Fair Value Measurements and Fair Value Disclosures (Tables)

3 Months Ended

Mar. 31, 2021

Fair Value Disclosures [Abstract]

Schedule of Hierarchy Categorized on Fair Value

The estimated fair values of the Company’s financial instruments that are not measured at fair value on a recurring basis, categorized based upon the fair value hierarchy, are as follows:

	Carrying		Fair Value
	Value		Level 1		Level 2
March 31, 2021:
Assets
Cash and cash equivalents (1)	$	45,189	$	45,189	$	—
Total	$	45,189	$	45,189	$	—
Liabilities
Term loan, due 2023, net	$	245,994	$	—	$	250,988
Term loan, due 2024, net		22,603		—		22,868
Alaska tankers term loan, due 2025, net		49,242		—		47,688
OSG 204 LLC term loan, due 2025, net		30,647		—		30,562
Term loan, due 2026, net		47,924		—		50,346
OSG 205 LLC and OSG Courageous II LLC term loan, due 2027, net		22,083		—		20,555
Unsecured senior notes, net		390		—		407
Total	$	418,883	$	—	$	423,414

OVERSEAS SHIPHOLDING GROUP, INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

DOLLARS IN THOUSANDS, EXCEPT PER SHARE AMOUNTS

	Carrying		Fair Value
	Value		Level 1		Level 2
December 31, 2020:
Assets
Cash and cash equivalents (1)	$	69,819	$	69,819	$	—
Total	$	69,819	$	69,819	$	—
Liabilities
Term loan, due 2023, net	$	252,057	$	—		257,228
Term loan, due 2024, net		22,972		—		23,535
Alaska tankers term loan, due 2025, net		50,360		—		49,357
OSG 204 LLC term loan, due 2025, net		31,283		—		31,562
Term loan, due 2026, net		23,171		—		21,921
OSG 205 LLC and OSG Courageous II LLC term loan, due 2027, net		48,586		—		52,199
Unsecured senior notes, net		691		—		715
Total	$	429,120	$	—	$	436,517

(1) Includes current and non-current restricted cash aggregating $96 and $122 at March 31, 2021 and December 31, 2020, respectively. Restricted cash as of March 31, 2021 and December 31, 2020 was related to the Company’s Unsecured Senior Notes.