10-Q Filing

DORIAN LPG LTD. CIK: 1596993 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001596993-19-000013`
Period End Date	20190630
Filing Date	20190807
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	lpg-20190630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 88 Income Statement 40 Cash Flow Statement 59 Stockholders Equity 14

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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$21.72M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$30.84M	USD	Point-in-time
Trade receivables, net and accrued revenues	`AccountsReceivableNetCurrent`	$1.38M	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
Trade receivables, net and accrued revenues	`AccountsReceivableNetCurrent`	$1.66M	USD	Point-in-time
Due from related parties	`DueFromRelatedPartiesCurrent`	$44.46M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Due from related parties	`DueFromRelatedPartiesCurrent`	$63.90M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	450.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	450.00M	shares	Point-in-time
Inventories	`InventoryNet`	$2.14M	USD	Point-in-time
Inventories	`InventoryNet`	$2.11M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	58.88M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$3.80M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	58.89M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$3.46M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$82.59M	USD	Point-in-time
Common stock, shares outstanding (net of treasury stock)	`CommonStockSharesOutstanding`	55.17M	shares	Point-in-time
Common stock, shares outstanding (net of treasury stock)	`CommonStockSharesOutstanding`	55.06M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$92.87M	USD	Point-in-time
Treasury stock, shares at cost	`TreasuryStockCommonShares`	3.83M	shares	Point-in-time
Treasury stock, shares at cost	`TreasuryStockCommonShares`	3.71M	shares	Point-in-time
Vessels, net	`VesselsNet`	$1.46B	USD	Point-in-time
Vessels, net	`VesselsNet`	$1.48B	USD	Point-in-time
Other fixed assets, net	`PropertyPlantAndEquipmentOther`	$249.51K	USD	Point-in-time
Other fixed assets, net	`PropertyPlantAndEquipmentOther`	$160.28K	USD	Point-in-time
Total fixed assets	`PropertyPlantAndEquipmentNet`	$1.48B	USD	Point-in-time
Total fixed assets	`PropertyPlantAndEquipmentNet`	$1.46B	USD	Point-in-time
Deferred charges, net	`DeferredCosts`	$2.00M	USD	Point-in-time
Deferred charges, net	`DeferredCosts`	$2.27M	USD	Point-in-time
Derivative instruments	`DerivativeAssetsNoncurrent`	$1.69M	USD	Point-in-time
Derivative instruments	`DerivativeAssetsNoncurrent`	$6.45M	USD	Point-in-time
Due from related partiesnon-current	`DueFromRelatedPartiesNoncurrent`	$20.90M	USD	Point-in-time
Due from related partiesnon-current	`DueFromRelatedPartiesNoncurrent`	$19.80M	USD	Point-in-time
Restricted cash - non-current	`RestrictedCashAndCashEquivalentsNoncurrent`	$35.63M	USD	Point-in-time
Restricted cash - non-current	`RestrictedCashAndCashEquivalentsNoncurrent`	$35.63M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$217.10K	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$1.67M	USD	Point-in-time
Total assets	`Assets`	$1.62B	USD	Point-in-time
Total assets	`Assets`	$1.63B	USD	Point-in-time
Trade accounts payable	`AccountsPayableCurrent`	$8.11M	USD	Point-in-time
Trade accounts payable	`AccountsPayableCurrent`	$7.21M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$3.48M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$3.44M	USD	Point-in-time
Due to related parties	`DueToRelatedPartiesCurrent`	$489.64K	USD	Point-in-time
Due to related parties	`DueToRelatedPartiesCurrent`	$11.16K	USD	Point-in-time
Deferred income	`ContractWithCustomerLiabilityCurrent`	$4.26M	USD	Point-in-time
Deferred income	`ContractWithCustomerLiabilityCurrent`	$3.96M	USD	Point-in-time
Current portion of long-term operating leases	`OperatingLeaseLiabilityCurrent`	$309.81K	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$63.97M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$63.97M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$79.37M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$79.84M	USD	Point-in-time
Long-term debtnet of current portion and deferred financing fees	`LongTermDebtNoncurrent`	$632.12M	USD	Point-in-time
Long-term debtnet of current portion and deferred financing fees	`LongTermDebtNoncurrent`	$616.87M	USD	Point-in-time
Derivative instruments	`DerivativeLiabilitiesNoncurrent`	$1.31M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$2.00M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$1.20M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$633.32M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$620.18M	USD	Point-in-time
Total liabilities	`Liabilities`	$712.69M	USD	Point-in-time
Total liabilities	`Liabilities`	$700.03M	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, 58,890,265 and 58,882,515 shares issued, 55,063,602 and 55,167,708 shares outstanding (net of treasury stock), as of June 30, 2019 and March 31, 2019, respectively	`CommonStockValue`	$588.83K	USD	Point-in-time
Common stock, $0.01 par value, 450,000,000 shares authorized, 58,890,265 and 58,882,515 shares issued, 55,063,602 and 55,167,708 shares outstanding (net of treasury stock), as of June 30, 2019 and March 31, 2019, respectively	`CommonStockValue`	$588.90K	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$863.58M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$864.89M	USD	Point-in-time
Treasury stock, at cost; 3,826,663 and 3,714,807 shares as of June 30, 2019 and March 31, 2019, respectively	`TreasuryStockCommonValue`	$36.48M	USD	Point-in-time
Treasury stock, at cost; 3,826,663 and 3,714,807 shares as of June 30, 2019 and March 31, 2019, respectively	`TreasuryStockCommonValue`	$37.47M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$84.99M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$91.07M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$939.32M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$959.41M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$912.68M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$919.08M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$1.63B	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$1.62B	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$61.17M	USD	1 Quarter
Revenues	`Revenues`	$27.64M	USD	1 Quarter
Voyage expenses	`VoyageExpenses`	$339.11K	USD	1 Quarter
Voyage expenses	`VoyageExpenses`	$100.17K	USD	1 Quarter
Charter hire expenses	`CharterHireExpenses`	$2.06M	USD	1 Quarter
Vessel operating expenses	`VesselOperatingExpenses`	$16.69M	USD	1 Quarter
Vessel operating expenses	`VesselOperatingExpenses`	$16.12M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$16.27M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$16.27M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$6.74M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$7.92M	USD	1 Quarter
Professional and legal fees related to the BW Proposal	`BusinessCombinationAcquisitionRelatedCosts`	$483.00K	USD	1 Quarter
Total expenses	`CostsAndExpenses`	$41.45M	USD	1 Quarter
Total expenses	`CostsAndExpenses`	$41.52M	USD	1 Quarter
Other income-related party	`OtherOperatingIncomeRelatedParty`	$623.28K	USD	1 Quarter
Other income-related party	`OtherOperatingIncomeRelatedParty`	$644.52K	USD	1 Quarter
Operating income/(loss)	`OperatingIncomeLoss`	$-13.17M	USD	1 Quarter
Operating income/(loss)	`OperatingIncomeLoss`	$20.27M	USD	1 Quarter
Interest and finance costs	`InterestAndFinanceExpense`	$9.70M	USD	1 Quarter
Interest and finance costs	`InterestAndFinanceExpense`	$10.37M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$362.04K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$460.97K	USD	1 Quarter
Unrealized gain/(loss) on derivatives	`UnrealizedGainLossOnDerivatives`	$1.71M	USD	1 Quarter
Unrealized gain/(loss) on derivatives	`UnrealizedGainLossOnDerivatives`	$-6.07M	USD	1 Quarter
Realized gain on derivatives	`GainLossOnInterestRateDerivativeInstrumentsInterest`	$782.57K	USD	1 Quarter
Realized gain on derivatives	`GainLossOnInterestRateDerivativeInstrumentsInterest`	$1.03M	USD	1 Quarter
Other gain/(loss), net	`OtherNonoperatingIncomeExpense`	$-8.26K	USD	1 Quarter
Other gain/(loss), net	`OtherNonoperatingIncomeExpense`	$175.59K	USD	1 Quarter
Total other income/(expenses), net	`NonoperatingIncomeExpense`	$-14.20M	USD	1 Quarter
Total other income/(expenses), net	`NonoperatingIncomeExpense`	$-7.43M	USD	1 Quarter
Net income/(loss)	`NetIncomeLossAvailableToCommonStockholdersBasic`	$6.08M	USD	1 Quarter
Net income/(loss)	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-20.60M	USD	1 Quarter
Weighted average shares outstanding Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	54.55M	shares	1 Quarter
Weighted average shares outstanding Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	54.24M	shares	1 Quarter
Weighted average shares outstanding Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	54.24M	shares	1 Quarter
Weighted average shares outstanding Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	54.88M	shares	1 Quarter
Earnings/(loss) per common share basic (in dollars per share)	`EarningsPerShareBasic`	$-0.38	USD	1 Quarter
Earnings/(loss) per common share basic (in dollars per share)	`EarningsPerShareBasic`	$0.11	USD	1 Quarter
Earnings/(loss) per common share diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.11	USD	1 Quarter
Earnings/(loss) per common share diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.38	USD	1 Quarter

Cash Flow Statement 59 line items

Line Item	Tag	Value	Unit	Period
Net income/(loss)	`ProfitLoss`	$-20.60M	USD	1 Quarter
Net income/(loss)	`ProfitLoss`	$6.08M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$16.27M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$16.27M	USD	1 Quarter
Amortization of financing costs	`AmortizationOfFinancingCosts`	$744.27K	USD	1 Quarter
Amortization of financing costs	`AmortizationOfFinancingCosts`	$793.21K	USD	1 Quarter
Unrealized (gain)/loss on derivatives	`UnrealizedGainLossOnDerivatives`	$1.71M	USD	1 Quarter
Unrealized (gain)/loss on derivatives	`UnrealizedGainLossOnDerivatives`	$-6.07M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$1.63M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$1.31M	USD	1 Quarter
Unrealized foreign currency (gain)/loss, net	`ForeignCurrencyTransactionGainLossUnrealized`	$-133.58K	USD	1 Quarter
Unrealized foreign currency (gain)/loss, net	`ForeignCurrencyTransactionGainLossUnrealized`	$6.27K	USD	1 Quarter
Other non-cash items, net	`OtherNoncashIncomeExpense`	$-23.37K	USD	1 Quarter
Other non-cash items, net	`OtherNoncashIncomeExpense`	$202.68K	USD	1 Quarter
Trade receivables, net and accrued revenue	`IncreaseDecreaseInAccountsReceivable`	$272.91K	USD	1 Quarter
Trade receivables, net and accrued revenue	`IncreaseDecreaseInAccountsReceivable`	$-325.62K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$291.35K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-428.17K	USD	1 Quarter
Due from related parties	`IncreaseDecreaseInDueFromRelatedParties`	$7.03M	USD	1 Quarter
Due from related parties	`IncreaseDecreaseInDueFromRelatedParties`	$20.55M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$819.29K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$25.92K	USD	1 Quarter
Other non-current assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$383.57K	USD	1 Quarter
Other non-current assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-5.29K	USD	1 Quarter
Trade accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.43M	USD	1 Quarter
Trade accounts payable	`IncreaseDecreaseInAccountsPayable`	$800.98K	USD	1 Quarter
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-503.87K	USD	1 Quarter
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-412.06K	USD	1 Quarter
Due to related parties	`IncreaseDecreaseInDueToRelatedParties`	$-478.48K	USD	1 Quarter
Due to related parties	`IncreaseDecreaseInDueToRelatedParties`	$-315.80K	USD	1 Quarter
Payments for drydocking costs	`IncreaseDecreaseInPaymentsForDrydockingCosts`	$575.74K	USD	1 Quarter
Payments for drydocking costs	`IncreaseDecreaseInPaymentsForDrydockingCosts`	$1.41K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$8.69M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-10.56M	USD	1 Quarter
Vessel-related capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.45M	USD	1 Quarter
Vessel-related capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$60.32K	USD	1 Quarter
Payments to acquire other fixed assets	`PaymentsToAcquireOtherProductiveAssets`	$100.10K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.55M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-60.32K	USD	1 Quarter
Proceeds from long-term debt borrowings	`ProceedsFromIssuanceOfLongTermDebt`	$65.14M	USD	1 Quarter
Repayment of long-term debt borrowings	`RepaymentsOfLongTermDebt`	$15.99M	USD	1 Quarter
Repayment of long-term debt borrowings	`RepaymentsOfLongTermDebt`	$82.23M	USD	1 Quarter
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$269.39K	USD	1 Quarter
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$461.49K	USD	1 Quarter
Financing costs paid	`PaymentsOfFinancingCosts`	$160.61K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-17.71M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-16.26M	USD	1 Quarter
Effects of exchange rates on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-107.13K	USD	1 Quarter
Effects of exchange rates on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-7.09K	USD	1 Quarter
Net decrease in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-28.44M	USD	1 Quarter
Net decrease in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-9.12M	USD	1 Quarter
Cash, cash equivalents, and restricted cash at the beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$66.47M	USD	Point-in-time
Cash, cash equivalents, and restricted cash at the beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$100.93M	USD	Point-in-time
Cash, cash equivalents, and restricted cash at the beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$57.35M	USD	Point-in-time
Cash, cash equivalents, and restricted cash at the beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$129.37M	USD	Point-in-time
Cash, cash equivalents, and restricted cash at the end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$66.47M	USD	Point-in-time
Cash, cash equivalents, and restricted cash at the end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$100.93M	USD	Point-in-time
Cash, cash equivalents, and restricted cash at the end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$57.35M	USD	Point-in-time
Cash, cash equivalents, and restricted cash at the end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$129.37M	USD	Point-in-time

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$939.32M	USD	Point-in-time
Balance	`StockholdersEquity`	$959.41M	USD	Point-in-time
Balance	`StockholdersEquity`	$912.68M	USD	Point-in-time
Balance	`StockholdersEquity`	$919.08M	USD	Point-in-time
Net (loss)/income for the period	`NetIncomeLossAvailableToCommonStockholdersBasic`	$6.08M	USD	1 Quarter
Net (loss)/income for the period	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-20.60M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions`	$1.31M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions`	$1.63M	USD	1 Quarter
Purchase of treasury stock	`TreasuryStockValueAcquiredCostMethod`	$983.58K	USD	1 Quarter
Purchase of treasury stock	`TreasuryStockValueAcquiredCostMethod`	$1.13M	USD	1 Quarter
Balance	`StockholdersEquity`	$939.32M	USD	Point-in-time
Balance	`StockholdersEquity`	$959.41M	USD	Point-in-time
Balance	`StockholdersEquity`	$912.68M	USD	Point-in-time
Balance	`StockholdersEquity`	$919.08M	USD	Point-in-time

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