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Condensed Financial Information of DHT Holdings, Inc. (parent company only) (Tables)
12 Months Ended
Dec. 31, 2020
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
 
2020
  
2019
Cash and cash equivalents
 
$
5,310
  
$
22,492
 
Accounts receivable and prepaid expenses
  
1,679
   
874
 
Amounts due from related parties
  
84,725
   
62,822
 
Total current assets
 
$
91,713
  
$
86,188
 
         
Investments in subsidiaries
 
$
434,172
  
$
468,817
 
Loan to subsidiaries
  
324,420
   
526,574
 
Investment in associate company
  
201
   
201
 
Total non-current assets
 
$
758,793
  
$
995,593
 
         
Total assets
 
$
850,506
  
$
1,081,780
 
         
LIABILITIES AND STOCKHOLDERS' EQUITY
        
Current liabilities
        
Accounts payable and accrued expenses
 
$
170
  
$
2,416
 
Total current liabilities
 
$
170
  
$
2,416
 
         
Non-current liabilities
        
Long-term debt
 
$
-
  
$
116,568
 
Total non-current liabilities
 
$
-
  
$
116,568
 
         
Total liabilities
 
$
170
  
$
118,984
 
         
Stockholders' equity
        
Stock
 
$
1,708
  
$
1,468
 
Paid-in additional capital
  
1,245,449
   
1,121,047
 
Accumulated deficit
  
(396,820
)
  
(159,719
)
Total stockholders' equity
 
$
850,336
  
$
962,796
 
         
Total liabilities and stockholders' equity
 
$
850,506
  
$
1,081,780
 
Income Statement
INCOME STATEMENT
 
(Dollars in thousands)
 
 
Jan. 1 - Dec. 31,
2020
  
Jan. 1 - Dec. 31,
2019
  
Jan. 1 - Dec. 31,
2018
Impairment charge
 
$
(35,278
)
 
$
455
  
$
(93,452
)
Dividend income
  
17,081
   
25,519
   
9,909
 
General and administrative expense
  
(19,148
)
  
(14,782
)
  
(13,735
)
Operating income/(loss)
 
$
(37,345
)
 
$
11,192
  
$
(97,279
)
             
Interest income
 
$
21,434
  
$
27,943
  
$
24,893
 
Interest expense
  
(6,766
)
  
(12,177
)
  
(10,341
)
Other financial income/(expenses)
  
245
   
17
   
(3,416
)
Profit/(loss) for the year
 
$
(22,433
)
 
$
26,975
  
$
(86,143
)
Statement of Comprehensive Income
Statement of Comprehensive Income

(Dollars in thousands)
 
 
Jan. 1 - Dec. 31,
2020
  
Jan. 1 - Dec. 31,
2019
  
Jan. 1 - Dec. 31,
2018
Profit/(loss) for the year
 
$
(22,433
)
 
$
26,975
  
$
(86,143
)
Total comprehensive income/(loss) for the period
 
$
(22,433
)
 
$
26,975
  
$
(86,143
)
Attributable to the owners
 
$
(22,433
)
 
$
26,975
  
$
(86,143
)
Cash Flow
CASH FLOW

(Dollars in thousands)
 
 
Jan. 1 - Dec. 31,
2020
  
Jan. 1 - Dec. 31,
2019
  
Jan. 1 - Dec. 31,
2018
          
Cash Flows from Operating Activities:
         
Profit/(loss) for the year
 
$
(22,433
)
 
$
26,975
  
$
(86,143
)
Items included in net income not affecting cash flows:
            
Amortization
  
3,250
   
5,459
   
4,733
 
Impairment charge
  
35,278
   
(455
)
  
93,452
 
Compensation related to options and restricted stock
  
4,204
   
693
   
663
 
(Gain)/loss purchase convertible bond
  
-
   
-
   
3,589
 
Changes in operating assets and liabilities:
            
Accounts receivable and prepaid expenses
  
(805
)
  
(500
)
  
(125
)
Accounts payable and accrued expenses
  
(2,246
)
  
(1,317
)
  
2,279
 
Amounts due to related parties
  
(43,313
)
  
(63,280
)
  
(72,365
)
Net cash used in operating activities
 
$
(26,063
)
 
$
(32,425
)
 
$
(53,917
)
             
Cash flows from Investing Activities
            
Loan to subsidiaries
 
$
223,550
  
$
75,500
  
$
58,990
 
Investment in vessels under construction
  
-
   
-
   
(21,263
)
Net cash provided by investing activities
 
$
223,550
  
$
75,500
  
$
37,727
 
             
Cash flows from Financing Activities
            
Cash dividends paid
 
$
(214,669
)
 
$
(28,685
)
 
$
(11,487
)
Purchase of treasury shares
  
-
   
(3,248
)
  
(5,026
)
Issuance of convertible bonds
  
-
   
(7
)
  
38,945
 
Repayment of convertible bonds
  
-
   
(6,426
)
  
-
 
Net cash (used in)/provided by financing activities
 
$
(214,669
)
 
$
(38,366
)
 
$
22,432
 
             
Net (decrease)increase in cash and cash equivalents
 
$
(17,182
)
 
$
4,709
  
$
6,242
 
Cash and cash equivalents at beginning of period
  
22,492
   
17,783
   
11,540
 
Cash and cash equivalents at end of period
 
$
5,310
  
$
22,492
  
$
17,783
 
Profit/(Loss) Reconciliation
Profit/(Loss) Reconciliation
 
 
(Dollars in thousands)
 
Jan. 1 - Dec. 31,
2020
  
Jan. 1 - Dec. 31,
2019
  
Jan. 1 - Dec. 31,
2018
          
Profit/(loss) of the parent company only under cost method of accounting
 
$
(22,433
)
 
$
26,975
  
$
(86,143
)
Additional profit/(loss) if subsidiaries had been accounted for using equity method of accounting as opposed to cost method of accounting
  
288,653
   
46,969
   
39,014
 
Profit/(loss) of the parent company only under equity method of accounting
 
$
266,221
  
$
73,944
  
$
(47,128
)
Equity Reconciliation
Equity Reconciliation

 
(Dollars in thousands)
 
December 31,
2020
  
December 31,
2019
       
Equity of the parent company only under cost method of accounting
 
$
850,336
  
$
962,796
 
Additional profit if subsidiaries had been accounted for using equity method of accounting as opposed to cost method of accounting
  
358,384
   
69,731
 
Equity of the parent company only under equity method of accounting
 
$
1,208,720
  
$
1,032,527