Financial Statements for Knightsbridge Tankers Limited

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Knightsbridge Tankers Limited financials

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Income Statement

Balance Sheet

Cash Flow

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In Millions of USD (except for per share items)	12 months ending 2012-12-31	3 months ending 2012-09-30	3 months ending 2012-06-30	3 months ending 2012-03-31
Revenue	37.31	15.77	12.96	23.22
Other Revenue, Total	-	-	-	-
Total Revenue	37.31	15.77	12.96	23.22
Cost of Revenue, Total	11.93	10.40	8.04	7.94
Gross Profit	25.38	5.37	4.92	15.29
Selling/General/Admin. Expenses, Total	4.26	0.94	1.12	0.98
Research & Development	-	-	-	-
Depreciation/Amortization	11.12	5.65	5.67	5.68
Interest Expense(Income) - Net Operating	-	-	-	-
Unusual Expense (Income)	-	54.28	-	-
Other Operating Expenses, Total	-	-	-	-
Total Operating Expense	27.31	71.27	14.83	14.60
Operating Income	10.01	-55.50	-1.88	8.62
Interest Income(Expense), Net Non-Operating	-	-	-	-
Gain (Loss) on Sale of Assets	-	-	-	-
Other, Net	-0.47	-0.25	-0.14	-0.16
Income Before Tax	5.88	-57.01	-3.28	7.13
Income After Tax	5.88	-57.01	-3.28	7.13
Minority Interest	-	-	-	-
Equity In Affiliates	-	-	-	-
Net Income Before Extra. Items	5.88	-57.01	-3.28	7.13
Accounting Change	-	-	-	-
Discontinued Operations	-	-	-	-
Extraordinary Item	-	-	-	-
Net Income	-53.43	-57.01	-3.28	7.13
Preferred Dividends	-	-	-	-
Income Available to Common Excl. Extra Items	5.88	-57.01	-3.28	7.13
Income Available to Common Incl. Extra Items	-53.43	-57.01	-3.28	7.13
Basic Weighted Average Shares	-	-	-	-
Basic EPS Excluding Extraordinary Items	-	-	-	-
Basic EPS Including Extraordinary Items	-	-	-	-
Dilution Adjustment	0.00	0.00	0.00	-
Diluted Weighted Average Shares	24.57	24.44	24.43	24.43
Diluted EPS Excluding Extraordinary Items	0.24	-2.33	-0.13	0.29
Diluted EPS Including Extraordinary Items	-	-	-	-
Dividends per Share - Common Stock Primary Issue	1.20	0.17	0.17	0.35
Gross Dividends - Common Stock	-	-	-	-
Net Income after Stock Based Comp. Expense	-	-	-	-
Basic EPS after Stock Based Comp. Expense	-	-	-	-
Diluted EPS after Stock Based Comp. Expense	-	-	-	-
Depreciation, Supplemental	-	-	-	-
Total Special Items	-	-	-	-
Normalized Income Before Taxes	-	-	-	-
Effect of Special Items on Income Taxes	-	-	-	-
Income Taxes Ex. Impact of Special Items	-	-	-	-
Normalized Income After Taxes	-	-	-	-
Normalized Income Avail to Common	-	-	-	-
Basic Normalized EPS	-	-	-	-
Diluted Normalized EPS	0.24	-0.11	-0.13	0.29

In Millions of USD (except for per share items)	As of 2012-12-31	As of 2012-09-30	As of 2012-06-30	As of 2012-03-31
Cash & Equivalents	79.26	67.52	48.77	46.30
Short Term Investments	-	-	-	-
Cash and Short Term Investments	79.26	67.52	48.77	46.30
Accounts Receivable - Trade, Net	2.10	-	-	-
Receivables - Other	-	-	-	-
Total Receivables, Net	4.79	-	-	-
Total Inventory	1.18	-	-	-
Prepaid Expenses	0.62	-	-	-
Other Current Assets, Total	0.00	64.81	28.16	33.61
Total Current Assets	85.85	132.33	76.93	79.91
Property/Plant/Equipment, Total - Gross	305.58	-	-	-
Accumulated Depreciation, Total	-31.75	-	-	-
Goodwill, Net	-	-	-	-
Intangibles, Net	-	-	-	-
Long Term Investments	-	-	-	-
Other Long Term Assets, Total	37.74	1.54	1.80	3.19
Total Assets	397.42	432.71	503.64	513.70
Accounts Payable	1.28	-	-	-
Accrued Expenses	2.50	-	-	-
Notes Payable/Short Term Debt	0.00	0.00	0.00	0.00
Current Port. of LT Debt/Capital Leases	4.70	26.83	3.60	3.60
Other Current liabilities, Total	3.02	12.72	8.40	5.90
Total Current Liabilities	11.50	39.55	12.00	9.50
Long Term Debt	106.98	111.01	148.34	149.24
Capital Lease Obligations	-	-	-	-
Total Long Term Debt	106.98	111.01	148.34	149.24
Total Debt	111.68	137.84	151.94	152.84
Deferred Income Tax	-	-	-	-
Minority Interest	-	-	-	-
Other Liabilities, Total	1.25	-	-	-
Total Liabilities	119.73	150.56	160.34	158.74
Redeemable Preferred Stock, Total	-	-	-	-
Preferred Stock - Non Redeemable, Net	-	-	-	-
Common Stock, Total	0.24	0.24	0.24	0.24
Additional Paid-In Capital	281.47	310.68	310.56	310.38
Retained Earnings (Accumulated Deficit)	-4.02	-28.78	32.50	44.33
Treasury Stock - Common	-	-	-	-
Other Equity, Total	-	-	-	-
Total Equity	277.69	282.14	343.31	354.96
Total Liabilities & Shareholders' Equity	397.42	432.71	503.64	513.70
Shares Outs - Common Stock Primary Issue	-	-	-	-
Total Common Shares Outstanding	24.44	24.44	24.44	24.43

In Millions of USD (except for per share items)	As of 2012-12-31	As of 2011-12-31	As of 2010-12-31	As of 2009-12-31
Cash & Equivalents	79.26	46.85	56.77	7.96
Short Term Investments	-	-	-	-
Cash and Short Term Investments	79.26	46.85	56.77	7.96
Accounts Receivable - Trade, Net	2.10	7.72	2.08	4.44
Receivables - Other	-	-	-	-
Total Receivables, Net	4.79	11.39	3.27	5.10
Total Inventory	1.18	3.79	1.49	3.17
Prepaid Expenses	0.62	3.41	1.40	0.42
Other Current Assets, Total	0.00	0.93	15.00	12.68
Total Current Assets	85.85	66.38	77.93	29.33
Property/Plant/Equipment, Total - Gross	305.58	657.89	657.89	523.69
Accumulated Depreciation, Total	-31.75	-221.62	-198.86	-179.29
Goodwill, Net	-	-	-	-
Intangibles, Net	-	-	-	-
Long Term Investments	-	-	-	-
Other Long Term Assets, Total	37.74	18.57	4.99	1.22
Total Assets	397.42	521.22	541.95	374.94
Accounts Payable	1.28	2.38	3.87	3.66
Accrued Expenses	2.50	4.51	3.51	6.84
Notes Payable/Short Term Debt	0.00	0.00	0.00	0.00
Current Port. of LT Debt/Capital Leases	4.70	3.60	3.60	13.96
Other Current liabilities, Total	3.02	0.66	1.33	4.25
Total Current Liabilities	11.50	11.15	12.31	28.72
Long Term Debt	106.98	150.14	153.74	106.52
Capital Lease Obligations	-	-	-	-
Total Long Term Debt	106.98	150.14	153.74	106.52
Total Debt	111.68	153.74	157.34	120.48
Deferred Income Tax	-	-	-	-
Minority Interest	-	-	-	-
Other Liabilities, Total	1.25	0.00	-	-
Total Liabilities	119.73	161.29	166.05	135.24
Redeemable Preferred Stock, Total	-	-	-	-
Preferred Stock - Non Redeemable, Net	-	-	-	-
Common Stock, Total	0.24	0.24	0.24	0.17
Additional Paid-In Capital	281.47	310.27	310.05	179.02
Retained Earnings (Accumulated Deficit)	-4.02	49.41	65.61	60.52
Treasury Stock - Common	-	-	-	-
Other Equity, Total	-	-	-	-
Total Equity	277.69	359.93	375.90	239.71
Total Liabilities & Shareholders' Equity	397.42	521.22	541.95	374.95
Shares Outs - Common Stock Primary Issue	-	-	-	-
Total Common Shares Outstanding	24.44	24.43	24.43	17.10

In Millions of USD (except for per share items)	12 months ending 2012-12-31	9 months ending 2012-09-30	6 months ending 2012-06-30	3 months ending 2012-03-31
Net Income/Starting Line	-53.43	-53.15	3.85	7.13
Depreciation/Depletion	20.48	17.56	11.66	5.83
Amortization	-	-	-	-
Deferred Taxes	-	-	-	-
Non-Cash Items	68.93	67.70	10.09	0.48
Changes in Working Capital	0.81	2.78	-1.11	-0.88
Cash from Operating Activities	36.80	34.90	24.49	12.57
Capital Expenditures	0.00	-	-	-
Other Investing Cash Flow Items, Total	66.99	26.71	-	-
Cash from Investing Activities	66.99	26.71	-	-
Financing Cash Flow Items	0.00	0.00	0.00	0.00
Total Cash Dividends Paid	-29.32	-25.04	-20.77	-12.21
Issuance (Retirement) of Stock, Net	0.00	-	-	-
Issuance (Retirement) of Debt, Net	-42.06	-15.90	-1.80	-0.90
Cash from Financing Activities	-71.38	-40.94	-22.57	-13.11
Foreign Exchange Effects	-	-	-	-
Net Change in Cash	32.41	20.67	1.92	-0.55
Cash Interest Paid, Supplemental	4.48	-	-	-
Cash Taxes Paid, Supplemental	-	-	-	-

In Millions of USD (except for per share items)	12 months ending 2012-12-31	12 months ending 2011-12-31	12 months ending 2010-12-31	12 months ending 2009-12-31
Net Income/Starting Line	-53.43	32.65	38.56	21.68
Depreciation/Depletion	20.48	22.76	19.57	14.34
Amortization	-	-	-	-
Deferred Taxes	-	-	-	-
Non-Cash Items	68.93	3.37	0.80	0.19
Changes in Working Capital	0.81	-16.18	3.54	-1.65
Cash from Operating Activities	36.80	42.61	62.47	34.56
Capital Expenditures	0.00	0.00	-97.60	-116.47
Other Investing Cash Flow Items, Total	66.99	0.00	-5.00	0.00
Cash from Investing Activities	66.99	0.00	-102.60	-116.47
Financing Cash Flow Items	0.00	-0.08	-2.06	-1.29
Total Cash Dividends Paid	-29.32	-48.85	-33.47	-4.28
Issuance (Retirement) of Stock, Net	0.00	0.00	87.60	0.00
Issuance (Retirement) of Debt, Net	-42.06	-3.60	36.86	17.44
Cash from Financing Activities	-71.38	-52.53	88.94	11.88
Foreign Exchange Effects	-	-	-	-
Net Change in Cash	32.41	-9.92	48.81	-70.03
Cash Interest Paid, Supplemental	4.48	4.29	3.60	1.36
Cash Taxes Paid, Supplemental	-	-	-	-

In Millions of USD (except for per share items)	12 months ending 2012-12-31	12 months ending 2011-12-31	12 months ending 2010-12-31	12 months ending 2009-12-31
Revenue	37.31	55.50	40.83	67.34
Other Revenue, Total	-	-	-	-
Total Revenue	37.31	55.50	40.83	67.34
Cost of Revenue, Total	11.93	9.85	6.36	27.42
Gross Profit	25.38	45.65	34.46	39.92
Selling/General/Admin. Expenses, Total	4.26	3.53	3.02	1.82
Research & Development	-	-	-	-
Depreciation/Amortization	11.12	11.08	7.89	14.34
Interest Expense(Income) - Net Operating	-	-	-	-
Unusual Expense (Income)	-	-	-	0.00
Other Operating Expenses, Total	-	-	-	-
Total Operating Expense	27.31	24.46	17.27	43.58
Operating Income	10.01	31.04	23.56	23.76
Interest Income(Expense), Net Non-Operating	-	-	-	-
Gain (Loss) on Sale of Assets	-	-	-	-
Other, Net	-0.47	-0.49	-0.58	-0.30
Income Before Tax	5.88	27.06	20.14	21.68
Income After Tax	5.88	27.06	20.14	21.68
Minority Interest	-	-	-	-
Equity In Affiliates	-	-	-	-
Net Income Before Extra. Items	5.88	27.06	20.14	21.68
Accounting Change	-	-	-	-
Discontinued Operations	-	-	-	-
Extraordinary Item	-	-	-	-
Net Income	-53.43	32.65	38.56	21.68
Preferred Dividends	-	-	-	-
Income Available to Common Excl. Extra Items	5.88	27.06	20.14	21.68
Income Available to Common Incl. Extra Items	-53.43	32.65	38.56	21.68
Basic Weighted Average Shares	-	-	-	-
Basic EPS Excluding Extraordinary Items	-	-	-	-
Basic EPS Including Extraordinary Items	-	-	-	-
Dilution Adjustment	0.00	0.00	0.00	0.00
Diluted Weighted Average Shares	24.57	24.58	19.12	17.10
Diluted EPS Excluding Extraordinary Items	0.24	1.10	1.05	1.27
Diluted EPS Including Extraordinary Items	-	-	-	-
Dividends per Share - Common Stock Primary Issue	1.20	2.00	1.70	0.25
Gross Dividends - Common Stock	-	-	-	-
Net Income after Stock Based Comp. Expense	-	-	-	-
Basic EPS after Stock Based Comp. Expense	-	-	-	-
Diluted EPS after Stock Based Comp. Expense	-	-	-	-
Depreciation, Supplemental	-	-	-	-
Total Special Items	-	-	-	-
Normalized Income Before Taxes	-	-	-	-
Effect of Special Items on Income Taxes	-	-	-	-
Income Taxes Ex. Impact of Special Items	-	-	-	-
Normalized Income After Taxes	-	-	-	-
Normalized Income Avail to Common	-	-	-	-
Basic Normalized EPS	-	-	-	-
Diluted Normalized EPS	0.24	1.10	1.05	1.27