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Condensed Financial Information of DHT Holdings, Inc. (parent company only) (Tables) | 12 Months Ended
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Dec. 31, 2019
Condensed Financial Information of DHT Holdings, Inc. (parent company only) [Abstract] |
Financial Position | FINANCIAL POSITION (Dollars in thousands)
ASSETS |  | December 31, |  |  | December 31, |
Current assets |  | 2019 |  |  | 2018 |
Cash and cash equivalents |  | $ | 22,492 |  |  | $ | 17,783 |
Accounts receivable and prepaid expenses |  |  | 874 |  |  |  | 374 |
Amounts due from related parties |  |  | 62,822 |  |  |  | 36,216 |
Total current assets |  | $ | 86,188 |  |  | $ | 54,372 |
Investments in subsidiaries |  | $ | 468,817 |  |  | $ | 468,941 |
Loan to subsidiaries |  |  | 526,574 |  |  |  | 563,349 |
Investment in associate company |  |  | 201 |  |  |  | 201 |
Total non-current assets |  | $ | 995,593 |  |  | $ | 1,032,491 |
Total assets |  | $ | 1,081,780 |  |  | $ | 1,086,864 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |
Current liabilities |  |  |  |  |  |  |  |
Accounts payable and accrued expenses |  | $ | 2,416 |  |  | $ | 3,733 |
Current portion long term debt |  |  | - |  |  |  | 32,009 |
Total current liabilities |  | $ | 2,416 |  |  | $ | 35,742 |
Non-current liabilities |  |  |  |  |  |  |  |
Long term debt |  |  | 116,568 |  |  |  | 111,968 |
Total non-current liabilities |  | $ | 116,568 |  |  | $ | 111,968 |
Total liabilities |  | $ | 118,984 |  |  | $ | 147,710 |
Stockholders’ equity |  |  |  |  |  |  |  |
Stock |  | $ | 1,468 |  |  | $ | 1,427 |
Treasury shares |  |  | - |  |  |  | (1,364 | )
Paid-in additional capital |  |  | 1,121,047 |  |  |  | 1,097,099 |
Accumulated deficit |  |  | (159,719 | ) |  |  | (158,009 | )
Total stockholders equity |  | $ | 962,796 |  |  | $ | 939,154 |
Total liabilities and stockholders’ equity |  | $ | 1,081,780 |  |  | $ | 1,086,864 |
Income Statement | INCOME STATEMENT
(Dollars in thousands) |  | Jan. 1 - Dec. 31, 2019 |  |  | Jan. 1 - Dec. 31, 2018 |  |  | Jan. 1 - Dec. 31, 2017 |
Impairment charge |  | $ | 455 |  |  | $ | (93,452 | ) |  | $ | (4,948 | )
Dividend income |  |  | 25,519 |  |  |  | 9,909 |  |  |  | 25,415 |
General and administrative expense |  |  | (14,782 | ) |  |  | (13,735 | ) |  |  | (13,764 | )
Operating income/(loss) |  | $ | 11,192 |  |  | $ | (97,279 | ) |  | $ | 6,703 |
Interest income |  | $ | 27,943 |  |  | $ | 24,893 |  |  | $ | 21,798 |
Interest expense |  |  | (12,177 | ) |  |  | (10,341 | ) |  |  | (9,229 | )
Other financial income/(expenses) |  |  | 17 |  |  |  | (3,416 | ) |  |  | 1,020 |
Profit/(loss) for the year |  | $ | 26,975 |  |  | $ | (86,143 | ) |  | $ | 20,293 |
Statement of Comprehensive Income | Statement of Comprehensive Income
(Dollars in thousands) |  | Jan. 1 - Dec. 31, 2019 |  |  | Jan. 1 - Dec. 31, 2018 |  |  | Jan. 1 - Dec. 31, 2017 |
Profit/(loss) for the year |  | $ | 26,975 |  |  | $ | (86,143 | ) |  | $ | 20,293 |
Total comprehensive income/(loss) for the period |  | $ | 26,975 |  |  | $ | (86,143 | ) |  | $ | 20,293 |
Attributable to the owners |  | $ | 26,975 |  |  | $ | (86,143 | ) |  | $ | 20,293 |
Cash Flow | CASH FLOW
(Dollars in thousands) |  | Jan. 1 - Dec. 31, 2019 |  |  | Jan. 1 - Dec. 31, 2018 |  |  | Jan. 1 - Dec. 31, 2017 |
Cash Flows from Operating Activities: |  |  |  |  |  |  |  |  |
Profit/(loss) for the year |  | $ | 26,975 |  |  | $ | (86,143 | ) |  | $ | 20,293 |
Items included in net income not affecting cash flows: |  |  |  |  |  |  |  |  |  |  |  |
Amortization |  |  | 5,459 |  |  |  | 4,733 |  |  |  | 4,170 |
Impairment charge |  |  | (455 | ) |  |  | 93,452 |  |  |  | 4,948 |
Compensation related to options and restricted stock |  |  | 693 |  |  |  | 663 |  |  |  | 4,948 |
(Gain)/loss purchase convertible bond |  |  | - |  |  |  | 3,589 |  |  |  | (1,035 | )
Changes in operating assets and liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Accounts receivable and prepaid expenses |  |  | (500 | ) |  |  | (125 | ) |  |  | 4,305 |
Accounts payable and accrued expenses |  |  | (1,317 | ) |  |  | 2,279 |  |  |  | (291 | )
Amounts due to related parties |  |  | (63,280 | ) |  |  | (72,365 | ) |  |  | 11,782 |
Net cash provided by/(used in) operating activities |  | $ | (32,425 | ) |  | $ | (53,917 | ) |  | $ | 49,119 |
Cash flows from Investing Activities |  |  |  |  |  |  |  |  |  |  |  |
Loan to subsidiaries |  | $ | 75,500 |  |  | $ | 58,990 |  |  | $ | 82,814 |
Investment in vessels under construction |  |  | - |  |  |  | (21,263 | ) |  |  | (86,004 | )
Net cash provided by/(used in) investing activities |  | $ | 75,500 |  |  | $ | 37,727 |  |  | $ | (3,191 | )
Cash flows from Financing Activities |  |  |  |  |  |  |  |  |  |  |  |
Cash dividends paid |  |  | (28,685 | ) |  |  | (11,487 | ) |  |  | (23,328 | )
Purchase of treasury shares |  |  | (3,248 | ) |  |  | (5,026 | ) |  |  | - |
Issuance of convertible bonds |  |  | (7 | ) |  |  | 38,945 |  |  |  | - |
Repayment of convertible bonds |  |  | (6,426 | ) |  |  | - |  |  |  | - |
Purchase of convertible bonds |  |  | - |  |  |  | - |  |  |  | (17,104 | )
Net cash (used in)/provided by financing activities |  | $ | (38,366 | ) |  | $ | 22,432 |  |  | $ | (40,431 | )
Net increase/(decrease) in cash and cash equivalents |  | $ | 4,709 |  |  | $ | 6,242 |  |  | $ | 5,497 |
Cash and cash equivalents at beginning of period |  |  | 17,783 |  |  |  | 11,540 |  |  |  | 6,043 |
Cash and cash equivalents at end of period |  | $ | 22,492 |  |  | $ | 17,783 |  |  | $ | 11,540 |
Profit/(Loss) Reconciliation | Profit/(Loss) Reconciliation
(Dollars in thousands) |  | Jan. 1 - Dec. 31, 2019 |  |  | Jan. 1 - Dec. 31, 2018 |  |  | Jan. 1 - Dec. 31, 2017 |
Profit/(loss) of the parent company only under cost method of accounting |  | $ | 26,975 |  |  | $ | (86,143 | ) |  | $ | 20,293 |
Additional profit/(loss) if subsidiaries had been accounted for using equity method of accounting as opposed to cost method of accounting |  |  | 46,969 |  |  |  | 39,014 |  |  |  | (13,664 | )
Profit/(loss) of the parent company only under equity method of accounting |  | $ | 73,944 |  |  | $ | (47,128 | ) |  | $ | 6,628 |
Equity Reconciliation | Equity Reconciliation
(Dollars in thousands) |  | December 31, 2019 |  |  | December 31, 2018 |
Equity of the parent company only under cost method of accounting |  | $ | 962,796 |  |  | $ | 939,154 |
Additional profit if subsidiaries had been accounted for using equity method of accounting as opposed to cost method of accounting |  |  | 69,731 |  |  |  | 22,762 |
Equity of the parent company only under equity method of accounting |  | $ | 1,032,527 |  |  | $ | 961,915 |

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