CALPETRO TANKERS IOM LTD

CIK:0000923657|SEC Filings

Statements of Operations and Retained Earnings (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Operating revenues
Finance lease interest income	$ 514	$ 770	$ 1,027
Total operating revenues	514	770	1,027
Operating expenses
General and administrative expenses	(102)	(111)	(125)
Total operating expenses	(102)	(111)	(125)
Net operating income	412	659	902
Other income (expenses)
Interest income	0	1	1
Interest expense	(572)	(826)	(1,081)
Amortization of deferred charges	(24)	(24)	(24)
Total other expenses	(596)	(849)	(1,104)
Net loss	(184)	(190)	(202)
Retained earnings at the start of the year	476	666	868
Retained earnings at the end of the year	$ 292	$ 476	$ 666

Statements of Cash Flows (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Statement of Cash Flows [Abstract]
Net loss	$ (184)	$ (190)	$ (202)
Adjustments to reconcile net loss to net cash used in operating activities:
Amortization of deferred charges	24	24	24
Changes in assets and liabilities:
Interest receivable	64	64	64
Accrued interest payable	(64)	(63)	(64)
Other current assets	(2)	0	0
Other current liabilities	(11)	(45)	44
Net cash used in operating activities	(173)	(210)	(134)
Investing activities:
Finance lease payments received	3,106	3,104	3,102
Change in restricted cash and investments	51	90	16
Net cash provided by investing activities	3,157	3,194	3,118
Financing activities:
Repayment of debt	(2,984)	(2,984)	(2,984)
Net cash used in financing activities	(2,984)	(2,984)	(2,984)
Net change in cash and cash equivalents	0	0	0
Cash and cash equivalents at start of the year	0	0	0
Cash and cash equivalents at end of the year	0	0	0
Supplemental disclosure of cash flow information:
Interest paid	$ 636	$ 889	$ 1,145

Balance Sheets (USD $) In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012
Current assets :
Restricted cash and investments	$ 1,596	$ 1,647
Current portion of net investment in finance lease	3,108	3,106
Interest receivable	97	161
Other current assets	2	0
Total current assets	4,803	4,914
Net investment in finance lease, less current portion	1,587	4,695
Deferred charges	30	54
Total assets	6,420	9,663
Current liabilities:
Accrued interest	127	191
Current portion of long-term debt	2,984	2,984
Other current liabilities	30	41
Total current liabilities	3,141	3,216
Long-term debt	2,986	5,970
Total liabilities	6,127	9,186
Equity:
Unclassified stock: 2 shares of $500 par value	1	1
Retained earnings	292	476
Total equity	293	477
Total liabilities and equity	$ 6,420	$ 9,663