10-Q Filing

DORIAN LPG LTD. CIK: 1596993 Q1 2016

Filing Information

Form Type	10-Q
Accession Number	`0001596993-16-000030`
Period End Date	20160630
Filing Date	20160728
Fiscal Year	2016
Fiscal Period	Q1
XBRL Instance	lpg-20160630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 88 Income Statement 40 Cash Flow Statement 60 Stockholders Equity 13

Balance Sheet 88 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$204.82M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$134.72M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$47.32M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$46.41M	USD	Point-in-time
Trade receivables, net and accrued revenues	`AccountsReceivableNetCurrent`	$107.32K	USD	Point-in-time
Trade receivables, net and accrued revenues	`AccountsReceivableNetCurrent`	$88.83K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Prepaid expenses and other receivables	`PrepaidExpenseAndOtherAssetsCurrent`	$2.25M	USD	Point-in-time
Prepaid expenses and other receivables	`PrepaidExpenseAndOtherAssetsCurrent`	$2.28M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	450.00M	shares	Point-in-time
Due from related parties	`DueFromRelatedPartiesCurrent`	$54.50M	USD	Point-in-time
Due from related parties	`DueFromRelatedPartiesCurrent`	$44.57M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	450.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	58.31M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	58.06M	shares	Point-in-time
Inventories	`InventoryNet`	$2.13M	USD	Point-in-time
Inventories	`InventoryNet`	$2.29M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	55.10M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$96.40M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$105.56M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	56.13M	shares	Point-in-time
Treasury stock, shares at cost	`TreasuryStockShares`	3.21M	shares	Point-in-time
Treasury stock, shares at cost	`TreasuryStockShares`	1.93M	shares	Point-in-time
Vessels, net	`VesselsNet`	$1.65B	USD	Point-in-time
Vessels, net	`VesselsNet`	$1.67B	USD	Point-in-time
Other fixed assets, net	`PropertyPlantAndEquipmentOther`	$521.71K	USD	Point-in-time
Other fixed assets, net	`PropertyPlantAndEquipmentOther`	$591.29K	USD	Point-in-time
Total fixed assets	`PropertyPlantAndEquipmentNet`	$1.65B	USD	Point-in-time
Total fixed assets	`PropertyPlantAndEquipmentNet`	$1.67B	USD	Point-in-time
Deferred charges, net	`DeferredCosts`	$294.94K	USD	Point-in-time
Deferred charges, net	`DeferredCosts`	$265.01K	USD	Point-in-time
Due from related partiesnon-current	`DueFromRelatedPartiesNoncurrent`	$18.70M	USD	Point-in-time
Due from related partiesnon-current	`DueFromRelatedPartiesNoncurrent`	$17.60M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$50.81M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$50.81M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$95.27K	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$94.66K	USD	Point-in-time
Total assets	`Assets`	$1.82B	USD	Point-in-time
Total assets	`Assets`	$1.84B	USD	Point-in-time
Trade accounts payable	`AccountsPayableCurrent`	$6.02M	USD	Point-in-time
Trade accounts payable	`AccountsPayableCurrent`	$6.83M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$9.72M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$7.48M	USD	Point-in-time
Due to related parties	`DueToRelatedPartiesCurrent`	$708.21K	USD	Point-in-time
Due to related parties	`DueToRelatedPartiesCurrent`	$592.28K	USD	Point-in-time
Deferred income	`DeferredRevenueCurrent`	$5.98M	USD	Point-in-time
Deferred income	`DeferredRevenueCurrent`	$4.61M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$65.98M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$66.27M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$88.13M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$86.05M	USD	Point-in-time
Long-term debtnet of current portion and deferred financing fees	`LongTermDebtNoncurrent`	$746.35M	USD	Point-in-time
Long-term debtnet of current portion and deferred financing fees	`LongTermDebtNoncurrent`	$731.83M	USD	Point-in-time
Derivative instruments	`DerivativeLiabilitiesNoncurrent`	$26.02M	USD	Point-in-time
Derivative instruments	`DerivativeLiabilitiesNoncurrent`	$21.65M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$447.99K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$433.05K	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$758.28M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$768.45M	USD	Point-in-time
Total liabilities	`Liabilities`	$856.58M	USD	Point-in-time
Total liabilities	`Liabilities`	$844.34M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.01 par value, 50,000,000 shares authorized, none issued nor outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.01 par value, 50,000,000 shares authorized, none issued nor outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.01 par value, 450,000,000 shares authorized, 58,314,443 and 58,057,493 shares issued, 55,101,413 and 56,125,028 shares outstanding (net of treasury stock), as of June 30, 2016 and March 31, 2016, respectively	`CommonStockValue`	$580.58K	USD	Point-in-time
Common stock, $0.01 par value, 450,000,000 shares authorized, 58,314,443 and 58,057,493 shares issued, 55,101,413 and 56,125,028 shares outstanding (net of treasury stock), as of June 30, 2016 and March 31, 2016, respectively	`CommonStockValue`	$583.14K	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$848.18M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$849.60M	USD	Point-in-time
Treasury stock, at cost; 3,213,030 and 1,932,465 shares as of June 30, 2016 and March 31, 2016, respectively	`TreasuryStockValue`	$32.80M	USD	Point-in-time
Treasury stock, at cost; 3,213,030 and 1,932,465 shares as of June 30, 2016 and March 31, 2016, respectively	`TreasuryStockValue`	$20.94M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$156.49M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$157.78M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$985.60M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$887.76M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$873.21M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$973.88M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$1.82B	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$1.84B	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Net pool revenuesrelated party	`PoolRevenue`	$15.31M	USD	1 Quarter
Net pool revenuesrelated party	`PoolRevenue`	$37.66M	USD	1 Quarter
Voyage charter revenues	`VoyageCharterRevenue`	$14.86M	USD	1 Quarter
Time charter revenues	`TimeCharterRevenue`	$5.37M	USD	1 Quarter
Time charter revenues	`TimeCharterRevenue`	$12.53M	USD	1 Quarter
Other revenues	`OtherSalesRevenueNet`	$324.04K	USD	1 Quarter
Other revenues	`OtherSalesRevenueNet`	$95.51K	USD	1 Quarter
Total revenues	`Revenues`	$35.64M	USD	1 Quarter
Total revenues	`Revenues`	$50.52M	USD	1 Quarter
Voyage expenses	`VoyageExpenses`	$755.80K	USD	1 Quarter
Voyage expenses	`VoyageExpenses`	$3.52M	USD	1 Quarter
Vessel operating expenses	`VesselOperatingExpenses`	$16.10M	USD	1 Quarter
Vessel operating expenses	`VesselOperatingExpenses`	$6.75M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$16.19M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$4.86M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$7.21M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$5.61M	USD	1 Quarter
Loss on disposal of assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-105.55K	USD	1 Quarter
Total expenses	`CostsAndExpenses`	$38.66M	USD	1 Quarter
Total expenses	`CostsAndExpenses`	$22.45M	USD	1 Quarter
Other incomerelated party	`OtherOperatingIncome`	$383.64K	USD	1 Quarter
Other incomerelated party	`OtherOperatingIncome`	$552.90K	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$12.41M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$13.57M	USD	1 Quarter
Interest and finance costs	`InterestAndDebtExpense`	$135.80K	USD	1 Quarter
Interest and finance costs	`InterestAndDebtExpense`	$7.04M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$65.58K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$23.18K	USD	1 Quarter
Unrealized gain/(loss) on derivatives	`UnrealizedGainLossOnDerivatives`	$1.39M	USD	1 Quarter
Unrealized gain/(loss) on derivatives	`UnrealizedGainLossOnDerivatives`	$-4.37M	USD	1 Quarter
Realized loss on derivatives	`GainLossOnInterestRateDerivativeInstrumentsInterest`	$-2.26M	USD	1 Quarter
Realized loss on derivatives	`GainLossOnInterestRateDerivativeInstrumentsInterest`	$-1.24M	USD	1 Quarter
Foreign currency gain/(loss), net	`ForeignCurrencyTransactionGainLossBeforeTax`	$-62.71K	USD	1 Quarter
Foreign currency gain/(loss), net	`ForeignCurrencyTransactionGainLossBeforeTax`	$9.02K	USD	1 Quarter
Total other income/(expenses), net	`NonoperatingIncomeExpense`	$81.20K	USD	1 Quarter
Total other income/(expenses), net	`NonoperatingIncomeExpense`	$-13.70M	USD	1 Quarter
Net income/(loss)	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-1.29M	USD	1 Quarter
Net income/(loss)	`NetIncomeLossAvailableToCommonStockholdersBasic`	$13.65M	USD	1 Quarter
Earnings/(loss) per common sharebasic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	1 Quarter
Earnings/(loss) per common sharebasic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.24	USD	1 Quarter

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net income/(loss)	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-1.29M	USD	1 Quarter
Net income/(loss)	`NetIncomeLossAvailableToCommonStockholdersBasic`	$13.65M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$16.19M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$4.86M	USD	1 Quarter
Amortization of financing costs	`AmortizationOfFinancingCosts`	$948.41K	USD	1 Quarter
Amortization of financing costs	`AmortizationOfFinancingCosts`	$223.74K	USD	1 Quarter
Unrealized loss/(gain) on derivatives	`UnrealizedGainLossOnDerivatives`	$1.39M	USD	1 Quarter
Unrealized loss/(gain) on derivatives	`UnrealizedGainLossOnDerivatives`	$-4.37M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$896.54K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$1.01M	USD	1 Quarter
Loss on disposal of assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-105.55K	USD	1 Quarter
Unrealized exchange differences	`ForeignCurrencyTransactionGainLossUnrealized`	$106.40K	USD	1 Quarter
Unrealized exchange differences	`ForeignCurrencyTransactionGainLossUnrealized`	$-88.07K	USD	1 Quarter
Other non-cash items	`OtherNoncashIncomeExpense`	$-20.95K	USD	1 Quarter
Other non-cash items	`OtherNoncashIncomeExpense`	$-21.18K	USD	1 Quarter
Trade receivables, net and accrued revenue	`IncreaseDecreaseInAccountsReceivable`	$-18.48K	USD	1 Quarter
Trade receivables, net and accrued revenue	`IncreaseDecreaseInAccountsReceivable`	$-15.55M	USD	1 Quarter
Prepaid expenses and other receivables	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$46.30K	USD	1 Quarter
Prepaid expenses and other receivables	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$35.83K	USD	1 Quarter
Due from related parties	`IncreaseDecreaseInDueFromRelatedParties`	$19.89M	USD	1 Quarter
Due from related parties	`IncreaseDecreaseInDueFromRelatedParties`	$-8.83M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-156.03K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-1.01M	USD	1 Quarter
Other non-current assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-608.00	USD	1 Quarter
Trade accounts payable	`IncreaseDecreaseInAccountsPayable`	$505.91K	USD	1 Quarter
Trade accounts payable	`IncreaseDecreaseInAccountsPayable`	$-212.47K	USD	1 Quarter
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-198.14K	USD	1 Quarter
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$1.41M	USD	1 Quarter
Due to related parties	`IncreaseDecreaseInDueToRelatedParties`	$93.75K	USD	1 Quarter
Due to related parties	`IncreaseDecreaseInDueToRelatedParties`	$-115.93K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$29.78M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$16.89M	USD	1 Quarter
Payments for vessels and vessels under construction	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.24M	USD	1 Quarter
Payments for vessels and vessels under construction	`PaymentsToAcquirePropertyPlantAndEquipment`	$204.08M	USD	1 Quarter
Restricted cash deposits	`IncreaseInRestrictedCash`	$3.30M	USD	1 Quarter
Proceeds from disposal of assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$136.66K	USD	1 Quarter
Payments to acquire other fixed assets	`PaymentsToAcquireOtherProductiveAssets`	$606.00	USD	1 Quarter
Payments to acquire other fixed assets	`PaymentsToAcquireOtherProductiveAssets`	$191.25K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-1.24M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-207.43M	USD	1 Quarter
Proceeds from long-term debt borrowings	`ProceedsFromIssuanceOfLongTermDebt`	$127.38M	USD	1 Quarter
Repayment of long-term debt borrowings	`RepaymentsOfLongTermDebt`	$2.82M	USD	1 Quarter
Repayment of long-term debt borrowings	`RepaymentsOfLongTermDebt`	$15.66M	USD	1 Quarter
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$11.85M	USD	1 Quarter
Financing costs paid	`PaymentsOfFinancingCosts`	$42.05K	USD	1 Quarter
Financing costs paid	`PaymentsOfFinancingCosts`	$4.22M	USD	1 Quarter
Net cash provided by/(used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-27.55M	USD	1 Quarter
Net cash provided by/(used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$120.34M	USD	1 Quarter
Effects of exchange rates on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$94.66K	USD	1 Quarter
Effects of exchange rates on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$-77.91K	USD	1 Quarter
Net increase/(decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$909.24K	USD	1 Quarter
Net increase/(decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-70.11M	USD	1 Quarter
Cash and cash equivalents at the beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$204.82M	USD	Point-in-time
Cash and cash equivalents at the beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$134.72M	USD	Point-in-time
Cash and cash equivalents at the beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$47.32M	USD	Point-in-time
Cash and cash equivalents at the beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$46.41M	USD	Point-in-time
Cash and cash equivalents at the end of the period	`CashAndCashEquivalentsAtCarryingValue`	$204.82M	USD	Point-in-time
Cash and cash equivalents at the end of the period	`CashAndCashEquivalentsAtCarryingValue`	$134.72M	USD	Point-in-time
Cash and cash equivalents at the end of the period	`CashAndCashEquivalentsAtCarryingValue`	$47.32M	USD	Point-in-time
Cash and cash equivalents at the end of the period	`CashAndCashEquivalentsAtCarryingValue`	$46.41M	USD	Point-in-time

Stockholders Equity 13 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$985.60M	USD	Point-in-time
Balance	`StockholdersEquity`	$887.76M	USD	Point-in-time
Balance	`StockholdersEquity`	$873.21M	USD	Point-in-time
Balance	`StockholdersEquity`	$973.88M	USD	Point-in-time
Net income/(loss)	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-1.29M	USD	1 Quarter
Net income/(loss)	`NetIncomeLossAvailableToCommonStockholdersBasic`	$13.65M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions`	$896.54K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions`	$1.42M	USD	1 Quarter
Purchase of treasury stock	`TreasuryStockValueAcquiredCostMethod`	$11.85M	USD	1 Quarter
Balance	`StockholdersEquity`	$985.60M	USD	Point-in-time
Balance	`StockholdersEquity`	$887.76M	USD	Point-in-time
Balance	`StockholdersEquity`	$873.21M	USD	Point-in-time
Balance	`StockholdersEquity`	$973.88M	USD	Point-in-time

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