6-K Filing

FRONTLINE PLC CIK: 913290 Q2 2023

Filing Information

Form Type	6-K
Accession Number	`0000913290-23-000008`
Period End Date	20230630
Filing Date	20230914
Fiscal Year	2023
Fiscal Period	Q2
XBRL Instance	fro-20230630_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 80 Income Statement 42 Cash Flow Statement 32 Stockholders Equity 14 Comprehensive Income 8

Balance Sheet 80 line items

Line Item	Tag	Value	Unit	Period
Number of shares outstanding (in shares)	`NumberOfSharesOutstanding`	222.62M	shares	Point-in-time
Number of shares outstanding (in shares)	`NumberOfSharesOutstanding`	222.62M	shares	Point-in-time
Share capital, par value (in USD per share)	`ParValuePerShare`	$1.00	USD	Point-in-time
Share capital, par value (in USD per share)	`ParValuePerShare`	$1.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalents`	$113.07M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalents`	$254.53M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalents`	$306.82M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalents`	$119.81M	USD	Point-in-time
Marketable securities	`MarketableSecuritiesCurrent`	$2.44M	USD	Point-in-time
Marketable securities	`MarketableSecuritiesCurrent`	$212.31M	USD	Point-in-time
Marketable securities	`MarketableSecuritiesCurrent`	$236.28M	USD	Point-in-time
Trade and other receivables	`TradeAndOtherCurrentReceivables`	$139.47M	USD	Point-in-time
Trade and other receivables	`TradeAndOtherCurrentReceivables`	$133.41M	USD	Point-in-time
Related party receivables	`TradeAndOtherCurrentReceivablesDueFromRelatedParties`	$13.48M	USD	Point-in-time
Related party receivables	`TradeAndOtherCurrentReceivablesDueFromRelatedParties`	$18.41M	USD	Point-in-time
Inventories	`Inventories`	$98.55M	USD	Point-in-time
Inventories	`Inventories`	$107.11M	USD	Point-in-time
Voyages in progress	`VoyagesInProgress`	$110.64M	USD	Point-in-time
Voyages in progress	`VoyagesInProgress`	$112.87M	USD	Point-in-time
Prepaid expenses and accrued income	`PrepaymentsAndAccruedIncomeOtherThanContractAssets`	$14.26M	USD	Point-in-time
Prepaid expenses and accrued income	`PrepaymentsAndAccruedIncomeOtherThanContractAssets`	$9.53M	USD	Point-in-time
Other current assets	`OtherCurrentAssets`	$5.67M	USD	Point-in-time
Other current assets	`OtherCurrentAssets`	$5.29M	USD	Point-in-time
Total current assets	`CurrentAssets`	$881.05M	USD	Point-in-time
Total current assets	`CurrentAssets`	$897.58M	USD	Point-in-time
Newbuildings	`ConstructionInProgress`	-	USD	Point-in-time
Newbuildings	`ConstructionInProgress`	$47.99M	USD	Point-in-time
Vessels and equipment	`VesselsAndEquipmentNet`	$3.62B	USD	Point-in-time
Vessels and equipment	`VesselsAndEquipmentNet`	$3.65B	USD	Point-in-time
Right-of-use assets	`RightofuseAssets`	$3.11M	USD	Point-in-time
Right-of-use assets	`RightofuseAssets`	$2.68M	USD	Point-in-time
Goodwill	`Goodwill`	$112.45M	USD	Point-in-time
Goodwill	`Goodwill`	$112.45M	USD	Point-in-time
Derivative instruments receivable	`DerivativeFinancialAssets`	$53.99M	USD	Point-in-time
Derivative instruments receivable	`DerivativeFinancialAssets`	$52.70M	USD	Point-in-time
Investment in associated companies	`InvestmentsInAssociatesAccountedForUsingEquityMethod`	$13.96M	USD	Point-in-time
Investment in associated companies	`InvestmentsInAssociatesAccountedForUsingEquityMethod`	$16.30M	USD	Point-in-time
Loan notes receivable	`NoncurrentReceivablesDueFromRelatedParties`	$1.39M	USD	Point-in-time
Loan notes receivable	`NoncurrentReceivablesDueFromRelatedParties`	-	USD	Point-in-time
Other non-current assets	`OtherNoncurrentAssets`	$4.00K	USD	Point-in-time
Other non-current assets	`OtherNoncurrentAssets`	$1.51M	USD	Point-in-time
Total assets	`Assets`	$4.77B	USD	Point-in-time
Total assets	`Assets`	$4.70B	USD	Point-in-time
Short-term debt and current portion of long-term debt	`CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings`	$277.85M	USD	Point-in-time
Short-term debt and current portion of long-term debt	`CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings`	$362.55M	USD	Point-in-time
Current portion of obligations under leases	`CurrentLeaseLiabilities`	$1.08M	USD	Point-in-time
Current portion of obligations under leases	`CurrentLeaseLiabilities`	$1.02M	USD	Point-in-time
Related party payables	`TradeAndOtherCurrentPayablesToRelatedParties`	$31.25M	USD	Point-in-time
Related party payables	`TradeAndOtherCurrentPayablesToRelatedParties`	$40.55M	USD	Point-in-time
Trade and other payables	`TradeAndOtherPayables`	$81.53M	USD	Point-in-time
Trade and other payables	`TradeAndOtherPayables`	$63.40M	USD	Point-in-time
Total current liabilities	`CurrentLiabilities`	$467.57M	USD	Point-in-time
Total current liabilities	`CurrentLiabilities`	$391.66M	USD	Point-in-time
Long-term debt	`LongtermBorrowings`	$1.93B	USD	Point-in-time
Long-term debt	`LongtermBorrowings`	$2.11B	USD	Point-in-time
Obligations under leases	`NoncurrentLeaseLiabilities`	$1.91M	USD	Point-in-time
Obligations under leases	`NoncurrentLeaseLiabilities`	$2.37M	USD	Point-in-time
Other non-current payables	`OtherNoncurrentPayables`	$2.05M	USD	Point-in-time
Other non-current payables	`OtherNoncurrentPayables`	$3.36M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.41B	USD	Point-in-time
Total liabilities	`Liabilities`	$2.51B	USD	Point-in-time
Share capital (222,622,889 shares. 2022: 222,622,889. Par value $1.00)	`IssuedCapitalOrdinaryShares`	$222.62M	USD	Point-in-time
Share capital (222,622,889 shares. 2022: 222,622,889. Par value $1.00)	`IssuedCapitalOrdinaryShares`	$222.62M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidinCapital`	$604.69M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidinCapital`	$604.69M	USD	Point-in-time
Contributed surplus	`RevaluationSurplus`	$1.00B	USD	Point-in-time
Contributed surplus	`RevaluationSurplus`	$1.00B	USD	Point-in-time
Accumulated other reserves	`OtherReserves`	$454.00K	USD	Point-in-time
Accumulated other reserves	`OtherReserves`	$585.00K	USD	Point-in-time
Retained earnings	`RetainedEarnings`	$464.77M	USD	Point-in-time
Retained earnings	`RetainedEarnings`	$428.51M	USD	Point-in-time
Total equity attributable to the shareholders of the Company	`EquityAttributableToOwnersOfParent`	$2.30B	USD	Point-in-time
Total equity attributable to the shareholders of the Company	`EquityAttributableToOwnersOfParent`	$2.26B	USD	Point-in-time
Non-controlling interest	`NoncontrollingInterests`	$-472.00K	USD	Point-in-time
Non-controlling interest	`NoncontrollingInterests`	$-472.00K	USD	Point-in-time
Total equity	`Equity`	$2.26B	USD	Point-in-time
Total equity	`Equity`	$1.90B	USD	Point-in-time
Total equity	`Equity`	$2.30B	USD	Point-in-time
Total liabilities and equity	`EquityAndLiabilities`	$4.77B	USD	Point-in-time
Total liabilities and equity	`EquityAndLiabilities`	$4.70B	USD	Point-in-time

Income Statement 42 line items

Line Item	Tag	Value	Unit	Period
Revenues	`RevenueFromRenderingOfServices`	$517.88M	USD	2 Qtrs
Revenues	`RevenueFromRenderingOfServices`	$1.01B	USD	2 Qtrs
Other operating income	`OtherOperatingIncomeExpense`	$23.68M	USD	2 Qtrs
Other operating income	`OtherOperatingIncomeExpense`	$5.64M	USD	2 Qtrs
Total revenues and other operating income	`Revenue`	$523.53M	USD	2 Qtrs
Total revenues and other operating income	`Revenue`	$1.03B	USD	2 Qtrs
Voyage expenses and commission	`FeeAndCommissionExpense`	$315.44M	USD	2 Qtrs
Voyage expenses and commission	`FeeAndCommissionExpense`	$254.91M	USD	2 Qtrs
Ship operating expenses	`ShipOperatingExpenses`	$87.49M	USD	2 Qtrs
Ship operating expenses	`ShipOperatingExpenses`	$84.87M	USD	2 Qtrs
Administrative expenses	`AdministrativeExpense`	$24.34M	USD	2 Qtrs
Administrative expenses	`AdministrativeExpense`	$15.77M	USD	2 Qtrs
Depreciation	`DepreciationExpense`	$112.64M	USD	2 Qtrs
Depreciation	`DepreciationExpense`	$80.78M	USD	2 Qtrs
Contingent rental income	`ContingentRentalIncomeExpense`	-	USD	2 Qtrs
Contingent rental income	`ContingentRentalIncomeExpense`	$623.00K	USD	2 Qtrs
Total operating expenses	`OperatingExpense`	$539.91M	USD	2 Qtrs
Total operating expenses	`OperatingExpense`	$435.70M	USD	2 Qtrs
Net operating income	`ProfitLossFromOperatingActivities`	$493.87M	USD	2 Qtrs
Net operating income	`ProfitLossFromOperatingActivities`	$87.83M	USD	2 Qtrs
Finance income	`FinanceIncome`	$7.73M	USD	2 Qtrs
Finance income	`FinanceIncome`	$199.00K	USD	2 Qtrs
Finance expense	`FinanceCosts`	$77.81M	USD	2 Qtrs
Finance expense	`FinanceCosts`	$2.17M	USD	2 Qtrs
Loss on marketable securities	`GainsLossesOnNetMarketableSecurities`	$-23.97M	USD	2 Qtrs
Loss on marketable securities	`GainsLossesOnNetMarketableSecurities`	$-11.74M	USD	2 Qtrs
Share of results of associated companies	`ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod`	$5.96M	USD	2 Qtrs
Share of results of associated companies	`ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod`	$4.96M	USD	2 Qtrs
Dividends received	`RevenueFromDividends`	$171.00K	USD	2 Qtrs
Dividends received	`RevenueFromDividends`	$25.50M	USD	2 Qtrs
Net other expenses	`NonOperatingIncomeExpense`	$-63.59M	USD	2 Qtrs
Net other expenses	`NonOperatingIncomeExpense`	$-7.58M	USD	2 Qtrs
Profit before income taxes	`ProfitLossBeforeTax`	$80.25M	USD	2 Qtrs
Profit before income taxes	`ProfitLossBeforeTax`	$430.27M	USD	2 Qtrs
Income tax benefit (expense)	`IncomeTaxExpenseContinuingOperations`	$6.00K	USD	2 Qtrs
Income tax benefit (expense)	`IncomeTaxExpenseContinuingOperations`	$-25.00K	USD	2 Qtrs
Profit for the period	`ProfitLoss`	$430.30M	USD	2 Qtrs
Profit for the period	`ProfitLoss`	$80.24M	USD	2 Qtrs
Basic earnings per share (in USD per share)	`BasicEarningsLossPerShare`	$0.39	USD	2 Qtrs
Basic earnings per share (in USD per share)	`BasicEarningsLossPerShare`	$1.93	USD	2 Qtrs
Diluted earnings per share (in USD per share)	`DilutedEarningsLossPerShare`	$1.93	USD	2 Qtrs
Diluted earnings per share (in USD per share)	`DilutedEarningsLossPerShare`	$0.39	USD	2 Qtrs

Cash Flow Statement 32 line items

Line Item	Tag	Value	Unit	Period
Net cash provided by operating activities	`CashFlowsFromUsedInOperatingActivities`	$91.74M	USD	2 Qtrs
Net cash provided by operating activities	`CashFlowsFromUsedInOperatingActivities`	$553.15M	USD	2 Qtrs
Additions to newbuildings, vessels and equipment	`PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities`	$169.60M	USD	2 Qtrs
Additions to newbuildings, vessels and equipment	`PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities`	$153.28M	USD	2 Qtrs
Proceeds from sale of vessels	`ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities`	$142.74M	USD	2 Qtrs
Proceeds from sale of vessels	`ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities`	$80.00M	USD	2 Qtrs
Cash inflow on repayment of loan to associated company	`CashReceiptsFromRepaymentOfAdvancesAndLoansMadeToRelatedParties`	-	USD	2 Qtrs
Cash inflow on repayment of loan to associated company	`CashReceiptsFromRepaymentOfAdvancesAndLoansMadeToRelatedParties`	$1.39M	USD	2 Qtrs
Net cash used in investing activities	`CashFlowsFromUsedInInvestingActivities`	$-89.60M	USD	2 Qtrs
Net cash used in investing activities	`CashFlowsFromUsedInInvestingActivities`	$-9.15M	USD	2 Qtrs
Proceeds from issuance of debt	`ProceedsFromBorrowingsClassifiedAsFinancingActivities`	$234.00M	USD	2 Qtrs
Proceeds from issuance of debt	`ProceedsFromBorrowingsClassifiedAsFinancingActivities`	$259.38M	USD	2 Qtrs
Repayment of debt	`RepaymentsOfBorrowingsClassifiedAsFinancingActivities`	$223.27M	USD	2 Qtrs
Repayment of debt	`RepaymentsOfBorrowingsClassifiedAsFinancingActivities`	$356.62M	USD	2 Qtrs
Repayment of obligations under leases	`PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities`	$1.67M	USD	2 Qtrs
Repayment of obligations under leases	`PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities`	$411.00K	USD	2 Qtrs
Lease termination payments	`PaymentsOfLeaseTerminationsClassifiedAsFinancingActivities`	-	USD	2 Qtrs
Lease termination payments	`PaymentsOfLeaseTerminationsClassifiedAsFinancingActivities`	$4.46M	USD	2 Qtrs
Cash dividends paid	`DividendsPaidClassifiedAsFinancingActivities`	-	USD	2 Qtrs
Cash dividends paid	`DividendsPaidClassifiedAsFinancingActivities`	$394.04M	USD	2 Qtrs
Net cash provided by (used in) financing activities	`CashFlowsFromUsedInFinancingActivities`	$-491.70M	USD	2 Qtrs
Net cash provided by (used in) financing activities	`CashFlowsFromUsedInFinancingActivities`	$4.61M	USD	2 Qtrs
Net change in cash and cash equivalents	`IncreaseDecreaseInCashAndCashEquivalents`	$6.74M	USD	2 Qtrs
Net change in cash and cash equivalents	`IncreaseDecreaseInCashAndCashEquivalents`	$52.30M	USD	2 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalents`	$113.07M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalents`	$254.53M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalents`	$306.82M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalents`	$119.81M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalents`	$113.07M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalents`	$254.53M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalents`	$306.82M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalents`	$119.81M	USD	Point-in-time

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Balance at beginning of period (in shares)	`NumberOfSharesOutstanding`	222.62M	shares	Point-in-time
Balance at beginning of period (in shares)	`NumberOfSharesOutstanding`	222.62M	shares	Point-in-time
Balance at end of period (in shares)	`NumberOfSharesOutstanding`	222.62M	shares	Point-in-time
Balance at end of period (in shares)	`NumberOfSharesOutstanding`	222.62M	shares	Point-in-time
Balance at the beginning of the year	`Equity`	$2.26B	USD	Point-in-time
Balance at the beginning of the year	`Equity`	$1.90B	USD	Point-in-time
Balance at the beginning of the year	`Equity`	$2.30B	USD	Point-in-time
Other comprehensive income	`OtherComprehensiveIncome`	$196.00K	USD	2 Qtrs
Other comprehensive income	`OtherComprehensiveIncome`	$131.00K	USD	2 Qtrs
Profit for the period	`ProfitLoss`	$430.30M	USD	2 Qtrs
Profit for the period	`ProfitLoss`	$80.24M	USD	2 Qtrs
Balance at the end of the year	`Equity`	$2.26B	USD	Point-in-time
Balance at the end of the year	`Equity`	$1.90B	USD	Point-in-time
Balance at the end of the year	`Equity`	$2.30B	USD	Point-in-time

Comprehensive Income 8 line items

Line Item	Tag	Value	Unit	Period
Profit for the period	`ProfitLoss`	$430.30M	USD	2 Qtrs
Profit for the period	`ProfitLoss`	$80.24M	USD	2 Qtrs
Foreign currency translation gain	`GainsLossesOnExchangeDifferencesOnTranslationNetOfTax`	$131.00K	USD	2 Qtrs
Foreign currency translation gain	`GainsLossesOnExchangeDifferencesOnTranslationNetOfTax`	$196.00K	USD	2 Qtrs
Other comprehensive income	`OtherComprehensiveIncome`	$196.00K	USD	2 Qtrs
Other comprehensive income	`OtherComprehensiveIncome`	$131.00K	USD	2 Qtrs
Comprehensive income	`ComprehensiveIncome`	$80.44M	USD	2 Qtrs
Comprehensive income	`ComprehensiveIncome`	$430.43M	USD	2 Qtrs

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.