XML 89 R2.htm IDEA: XBRL DOCUMENT v3.20.1
Consolidated Statements of Operations - USD ($)
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Operating revenues      
Total operating revenues $ 957,322,000 $ 742,266,000 $ 646,326,000
Other operating gains (3,422,000) (10,206,000) (2,381,000)
Operating expenses      
Voyage expenses and commission 395,482,000 377,772,000 259,334,000
Contingent rental income (2,607,000) (19,738,000) (26,148,000)
Ship operating expenses 157,007,000 130,623,000 135,728,000
Charter hire expenses 8,471,000 21,244,000 19,705,000
Impairment loss on vessels and vessels held under finance lease 0 0 164,187,000
Impairment loss on goodwill 0 0 112,821,000
Administrative expenses 45,019,000 37,294,000 37,603,000
Depreciation 117,850,000 122,566,000 141,748,000
Total operating expenses 721,222,000 669,761,000 844,978,000
Net operating income (loss) 239,522,000 82,711,000 (196,271,000)
Other income (expenses)      
Interest income 1,506,000 843,000 588,000
Interest expense (94,461,000) (93,275,000) (69,815,000)
Unrealized gain (loss) on marketable securities 1,737,000 (3,526,000) 0
Gain on sale of shares 0 1,026,000 1,061,000
Share of results of associated company 1,681,000 246,000 0
Foreign currency exchange loss (26,000) (869,000) (55,000)
Gain (loss) on derivatives (10,069,000) 4,256,000 (753,000)
Other non-operating items, net 403,000 506,000 1,213,000
Net other expenses (99,229,000) (90,793,000) (67,761,000)
Net income (loss) before income taxes and non-controlling interest 140,293,000 (8,082,000) (264,032,000)
Income tax expense (307,000) (316,000) (290,000)
Net income (loss) 139,986,000 (8,398,000) (264,322,000)
Net income attributable to non-controlling interest (14,000) (482,000) (539,000)
Net income (loss) attributable to the Company $ 139,972,000 $ (8,880,000) $ (264,861,000)
(Loss) earnings per share attributable to Frontline Ltd. stockholders:      
Basic earnings (loss) per share attributable to the Company (in dollars per share) $ 0.81 $ (0.05) $ (1.56)
Diluted earnings (loss) per share attributable to the Company (in dollars per share) $ 0.78 $ (0.05) $ (1.56)
Voyage charter revenues      
Operating revenues      
Total operating revenues $ 887,495,000 $ 690,901,000 $ 518,156,000
Time charter revenues      
Operating revenues      
Total operating revenues 35,433,000 26,067,000 106,237,000
Finance lease interest income      
Operating revenues      
Total operating revenues 690,000 1,293,000 1,748,000
Other income      
Operating revenues      
Total operating revenues $ 33,704,000 $ 24,005,000 $ 20,185,000