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SUPPLEMENTAL INFORMATION | 12 Months Ended
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Dec. 31, 2019
Supplemental Cash Flow Information [Abstract] |
SUPPLEMENTAL INFORMATION |
30. | SUPPLEMENTAL INFORMATION
In the year ended December 31, 2017, the Company agreed with SFL to terminate the long-term charter for three vessels. The Company recognized a reduction in finance lease obligations of $53.2 million in the year ended December 31, 2017 in respect of these vessels. In the year ended December 31, 2018, the Company agreed with SFL to terminate the long-term charter for six vessels. The Company recognized a reduction in finance lease obligations of $167.9 million in the year ended December 31, 2018 in respect of these vessels. Further information on the termination of long-term charters with SFL can be found in Note 19. In the year ended December 31, 2019, the Company issued 16,035,856 shares as part of the consideration under the SPA to acquire 10 Suezmax tankers from Trafigura. The shares have been recorded at the grant date fair value of $7.92 per share, totaling $127.0 million. See Note 5. for full details of the accounting for this transaction.

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- Definition The entire disclosure for supplemental cash flow activities, including cash, noncash, and part noncash transactions, for the period. Noncash is defined as information about all investing and financing activities of an enterprise during a period that affect recognized assets or liabilities but that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -URI http://asc.fasb.org/topic&trid=2134446 + Details
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