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Condensed Financial Information of DHT Holdings, Inc. (Tables) | 12 Months Ended
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Dec. 31, 2018
Condensed Financial Information of DHT Holdings, Inc. (Tables) [Abstract] |
Financial Position | (Dollars in thousands)
ASSETS |  | December 31, |  |  | December 31, |
Current assets |  | 2018 |  |  | 2017 |
Cash and cash equivalents |  | $ | 17,783 |  |  | $ | 11,540 |
Accounts receivable and prepaid expenses |  |  | 374 |  |  |  | 249 |
Deposit for vessel acquisition |  |  | - |  |  |  | 114,759 |
Amounts due from related parties |  |  | 36,216 |  |  |  | 7,992 |
Total current assets |  | $ | 54,372 |  |  | $ | 134,540 |
Investments in subsidiaries |  | $ | 468,941 |  |  | $ | 521,801 |
Loan to subsidiaries |  |  | 563,349 |  |  |  | 481,012 |
Investment in associate company |  |  | 201 |  |  |  | 201 |
Total non-current assets |  | $ | 1,032,491 |  |  | $ | 1,003,014 |
Total assets |  | $ | 1,086,864 |  |  | $ | 1,137,555 |
LIABILITIES AND STOCKHOLDERS' EQUITY |  |  |  |  |  |  |  |
Current liabilities |  |  |  |  |  |  |  |
Accounts payable and accrued expenses |  | $ | 3,733 |  |  | $ | 1,454 |
Current portion long-term debt |  |  | 32,009 |  |  |  | - |
Total current liabilities |  | $ | 35,742 |  |  | $ | 1,454 |
Non-current liabilities |  |  |  |  |  |  |  |
Long-term debt |  |  | 111,968 |  |  |  | 98,262 |
Total non-current liabilities |  | $ | 111,968 |  |  | $ | 98,262 |
Total liabilities |  | $ | 147,710 |  |  | $ | 99,716 |
Stockholders' equity |  |  |  |  |  |  |  |
Stock |  | $ | 1,427 |  |  | $ | 1,424 |
Treasury shares |  |  | (1,364 | ) |  |  | - |
Paid-in additional capital |  |  | 1,097,099 |  |  |  | 1,096,793 |
Accumulated deficit |  |  | (158,009 | ) |  |  | (60,379 | )
Total stockholders equity |  | $ | 939,154 |  |  | $ | 1,037,838 |
Total liabilities and stockholders' equity |  | $ | 1,086,864 |  |  | $ | 1,137,555 |
INCOME STATEMENT | INCOME STATEMENT
(Dollars in thousands) |  | Jan. 1 - Dec. 31, |  |  | Jan. 1 - Dec. 31, |  |  | Jan. 1 - Dec. 31, |
|  | 2018 |  |  | 2017 |  |  | 2016 |
Revenues |  | $ | - |  |  | $ | - |  |  | $ | 6,770 |
Impairment charge |  |  | (93,452 | ) |  |  | (4,948 | ) |  |  | (18,132 | )
Dividend income |  |  | 9,909 |  |  |  | 25,415 |  |  |  | 16,900 |
General and administrative expense |  |  | (13,735 | ) |  |  | (13,764 | ) |  |  | (14,525 | )
Operating income/(loss) |  | $ | (97,279 | ) |  | $ | 6,703 |  |  | $ | (8,987 | )
Interest income |  | $ | 24,893 |  |  | $ | 21,798 |  |  | $ | 14,559 |
Interest expense |  |  | (10,341 | ) |  |  | (9,229 | ) |  |  | (11,494 | )
Other financial income/(expenses) |  |  | (3,416 | ) |  |  | 1,020 |  |  |  | 693 |
Profit/(loss) for the year |  | $ | (86,143 | ) |  | $ | 20,293 |  |  | $ | (5,228 | )
Statement of Comprehensive Income | Statement of Comprehensive Income
(Dollars in thousands) |  | Jan. 1 - Dec. 31, |  |  | Jan. 1 - Dec. 31, |  |  | Jan. 1 - Dec. 31, |
|  | 2018 |  |  | 2017 |  |  | 2016 |
Profit/(loss) for the year |  | $ | (86,143 | ) |  | $ | 20,293 |  |  | $ | (5,228 | )
Other comprehensive income/(loss): |  |  |  |  |  |  |  |  |  |  |  |
Items that will not be reclassified subsequently to profit or loss: |  |  | - |  |  |  | - |  |  |  | - |
Items that may be reclassified subsequently to profit or loss: |  |  | - |  |  |  | - |  |  |  | - |
Total comprehensive income/(loss) for the period |  | $ | (86,143 | ) |  | $ | 20,293 |  |  | $ | (5,228 | )
Attributable to the owners |  | $ | (86,143 | ) |  | $ | 20,293 |  |  | $ | (5,228 | )
CASH FLOW | CASH FLOW
(Dollars in thousands) |  | Jan. 1 - Dec. 31, |  |  | Jan. 1 - Dec. 31, |  |  | Jan. 1 - Dec. 31, |
|  | 2018 |  |  | 2017 |  |  | 2016 |
Cash Flows from Operating Activities: |  |  |  |  |  |  |  |  |
Profit/(loss) for the year |  | $ | (86,143 | ) |  | $ | 20,293 |  |  | $ | (5,228 | )
Items included in net income not affecting cash flows: |  |  |  |  |  |  |  |  |  |  |  |
Amortization |  |  | 4,733 |  |  |  | 4,170 |  |  |  | 4,982 |
Impairment charge |  |  | 93,452 |  |  |  | 4,948 |  |  |  | 18,132 |
Compensation related to options and restricted stock |  |  | 663 |  |  |  | 4,948 |  |  |  | 7,365 |
(Gain)/loss purchase convertible bond |  |  | 3,589 |  |  |  | (1,035 | ) |  |  | - |
Changes in operating assets and liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Accounts receivable and prepaid expenses |  |  | (125 | ) |  |  | 4,305 |  |  |  | (4,148 | )
Accounts payable and accrued expenses |  |  | 2,279 |  |  |  | (291 | ) |  |  | (148 | )
Amounts due to related parties |  |  | (72,365 | ) |  |  | 11,782 |  |  |  | 122,401 |
Net cash (used in)/provided by operating activities |  | $ | (53,917 | ) |  | $ | 49,119 |  |  | $ | 143,357 |
Cash flows from Investing Activities |  |  |  |  |  |  |  |  |  |  |  |
Investments in subsidiaries |  | $ | - |  |  | $ | - |  |  | $ | (1,022 | )
Loan to subsidiaries |  |  | 58,990 |  |  |  | 82,814 |  |  |  | (63,985 | )
Investment in vessels under construction |  |  | (21,263 | ) |  |  | (86,004 | ) |  |  | (32,219 | )
Net cash provided by/(used in) investing activities |  | $ | 37,727 |  |  | $ | (3,191 | ) |  | $ | (97,227 | )
Cash flows from Financing Activities |  |  |  |  |  |  |  |  |  |  |  |
Cash dividends paid |  |  | (11,487 | ) |  |  | (23,328 | ) |  |  | (66,365 | )
Purchase of treasury shares |  |  | (5,026 | ) |  |  | - |  |  |  | (2,031 | )
Issuance of convertible bonds |  |  | 38,945 |  |  |  | - |  |  |  | - |
Purchase of convertible bonds |  |  | - |  |  |  | (17,104 | ) |  |  | (25,334 | )
Net cash provided by/(used in) financing activities |  | $ | 22,432 |  |  | $ | (40,431 | ) |  | $ | (93,731 | )
Net increase/(decrease) in cash and cash equivalents |  | $ | 6,242 |  |  | $ | 5,497 |  |  | $ | (47,602 | )
Cash and cash equivalents at beginning of period |  |  | 11,540 |  |  |  | 6,043 |  |  |  | 53,645 |
Cash and cash equivalents at end of period |  | $ | 17,783 |  |  | $ | 11,540 |  |  | $ | 6,043 |
Profit/(Loss) Reconciliation | Profit/(Loss) Reconciliation
(Dollars in thousands) |  | Jan. 1 - Dec. 31, |  |  | Jan. 1 - Dec. 31, |  |  | Jan. 1 - Dec. 31, |
|  | 2018 |  |  | 2017 |  |  | 2016 |
Profit/(loss) of the parent company only under cost method off accounting |  | $ | (86,143 | ) |  | $ | 20,293 |  |  | $ | (5,228 | )
Additional profit/(loss) if subsidiaries had been accounted for using equity method of accounting as opposed to cost method of accounting |  |  | 39,014 |  |  |  | (13,664 | ) |  |  | 14,467 |
Profit/(loss) of the parent company only under equity method of accounting |  | $ | (47,128 | ) |  | $ | 6,628 |  |  | $ | 9,239 |
Equity Reconciliation | Equity Reconciliation
(Dollars in thousands) |  | December 31, |  |  | December 31, |
|  | 2018 |  |  | 2017 |
Equity of the parent company only under cost method of accounting |  | $ | 939,154 |  |  | $ | 1,037,838 |
Additional profit if subsidiaries had been accounted for using equity method of accounting as opposed to cost method of accounting |  |  | 22,762 |  |  |  | (16,253 | )
Equity of the parent company only under equity method of accounting |  | $ | 961,915 |  |  | $ | 1,021,586 |

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