Cool Co Ltd.
CIK:0001944057|SEC Filings
CONSOLIDATED AND COMBINED CARVE-OUT STATEMENTS OF OPERATIONS - USD ($) $ in Thousands |
6 Months Ended | 11 Months Ended | 12 Months Ended | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2022 |
Dec. 31, 2022 |
Dec. 31, 2024 |
Dec. 31, 2023 |
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| Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | ||||||||||||||
| Total operating revenues | [1] | $ 43,456 | $ 212,978 | $ 338,497 | $ 379,010 | |||||||||
| Vessel operating expenses | [1] | (7,706) | (40,459) | (71,070) | (72,783) | |||||||||
| Voyage, charter hire and commission expenses, net | [1] | (1,229) | (1,644) | (6,260) | (4,532) | |||||||||
| Administrative expenses | [1] | (5,422) | (14,004) | (21,936) | (24,173) | |||||||||
| Depreciation and amortization | [1],[2] | (5,745) | (45,935) | (76,282) | (76,629) | |||||||||
| Total operating expenses | [1] | (20,102) | (102,042) | (175,548) | (178,117) | |||||||||
| Other operating income | [1] | 4,374 | 0 | 0 | 0 | |||||||||
| Operating income | [1] | 27,728 | 110,936 | 162,949 | 200,893 | |||||||||
| Other non-operating income | [1] | 0 | 0 | 0 | 42,549 | |||||||||
| Interest income | [1] | 4 | 1,273 | 6,041 | 8,227 | |||||||||
| Interest expense | [1] | (4,725) | (30,664) | (78,661) | (80,190) | |||||||||
| Gains on derivative instruments | [1] | 0 | 8,592 | 13,918 | 7,278 | |||||||||
| Other financial items, net | [1] | 622 | (2,526) | (3,170) | (1,838) | |||||||||
| Net financial expense | [1] | (4,099) | (23,325) | (61,872) | (66,523) | |||||||||
| Income before income taxes and non-controlling interests | [1] | 23,629 | 87,611 | 101,077 | 176,919 | |||||||||
| Income taxes, net | [1] | (385) | (111) | (277) | (556) | |||||||||
| Net income | [1] | 23,244 | [3] | 87,500 | [3] | 100,800 | [2] | 176,363 | [3] | |||||
| Net income attributable to non-controlling interests | [1] | (8,206) | (1,758) | (2,658) | (1,634) | |||||||||
| Net income attributable to the Owners of Cool Company Ltd. / Predecessor's Parent | [1] | $ 15,038 | $ 85,742 | $ 98,142 | $ 174,729 | |||||||||
| Earnings/(loss) per share attributable to Golar LNG Ltd stockholders Per common share amounts: | ||||||||||||||
| Basic earnings per share (in dollars per share) | [1] | $ 14.89 | $ 2.12 | $ 1.83 | $ 3.25 | |||||||||
| Diluted earnings per share (in dollars per share) | [1] | $ 14.89 | $ 2.12 | $ 1.82 | $ 3.25 | |||||||||
| Time and voyage charter revenues | ||||||||||||||
| Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | ||||||||||||||
| Total operating revenues | [1] | $ 37,289 | $ 183,567 | $ 313,620 | $ 347,081 | |||||||||
| Vessel and other management fees revenues | ||||||||||||||
| Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | ||||||||||||||
| Total operating revenues | [1] | 6,167 | 7,125 | 8,890 | 14,301 | |||||||||
| Amortization of intangible assets and liabilities arising from charter agreements, net | ||||||||||||||
| Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | ||||||||||||||
| Total operating revenues | [1] | $ 0 | $ 22,286 | $ 15,987 | $ 17,628 | |||||||||
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CONSOLIDATED AND COMBINED CARVE-OUT STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands |
6 Months Ended | 11 Months Ended | 12 Months Ended | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2022 |
Dec. 31, 2022 |
Dec. 31, 2024 |
Dec. 31, 2023 |
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| Operating activities | ||||||||||||||||
| Net income | [2] | $ 23,244 | [1] | $ 87,500 | [1] | $ 100,800 | [3] | $ 176,363 | [1] | |||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||||||||
| Depreciation and amortization expenses | [2],[3] | 5,745 | 45,935 | 76,282 | 76,629 | |||||||||||
| Amortization of intangible assets and liabilities arising from charter agreements, net | [3] | 0 | (22,286) | (15,987) | (17,628) | |||||||||||
| Amortization of deferred charges and fair value adjustments | [3] | 1,588 | 2,540 | 4,128 | 4,124 | |||||||||||
| Gain on sale of vessel | [3] | 0 | 0 | 0 | (42,549) | |||||||||||
| Drydocking expenditure | [3] | 0 | (294) | (23,931) | (4,547) | |||||||||||
| Compensation cost related to share-based payment | [3] | 238 | 320 | 2,013 | 2,447 | |||||||||||
| Change in fair value of derivative instruments | [3] | 0 | (8,351) | (2,631) | 3,306 | |||||||||||
| Share based payments | [3] | 0 | 0 | (536) | (232) | |||||||||||
| Changes in assets and liabilities: | ||||||||||||||||
| Trade accounts and other receivables | [3] | (117) | (427) | 7,672 | (7,044) | |||||||||||
| Inventories | [3] | 0 | 0 | (7) | (2,668) | |||||||||||
| Other current and other non-current assets | [3] | (7,226) | 4,426 | (2,695) | (3,864) | |||||||||||
| Amounts (due to) /from related parties | [3] | (238) | (463) | (1,254) | ||||||||||||
| Amounts (due to) /from related parties | [3] | 1,252 | ||||||||||||||
| Trade accounts payable | [3] | (400) | 640 | (940) | 18,486 | |||||||||||
| Accrued expenses | [3] | (180) | 7,073 | (2,928) | (6,367) | |||||||||||
| Other current and non-current liabilities | [3] | 2,957 | 1,396 | 5,333 | 3,724 | |||||||||||
| Net cash provided by operating activities | [3] | 27,101 | 118,234 | 146,110 | 198,926 | |||||||||||
| Investing activities | ||||||||||||||||
| Additions to vessels and equipment | [3] | 0 | 0 | (26,532) | (13,801) | |||||||||||
| Additions to newbuildings | [3] | 0 | 0 | (160,958) | (181,287) | |||||||||||
| Proceeds from sale of vessels | [3] | 0 | 0 | 0 | 184,300 | |||||||||||
| Additions to intangible assets | [3] | 0 | 0 | (132) | (1,344) | |||||||||||
| Consideration for acquisition of vessels and management entities | [3] | 0 | (353,506) | 0 | 0 | |||||||||||
| Net cash used in investing activities | [3] | 0 | (353,506) | (187,622) | (12,132) | |||||||||||
| Financing activities | ||||||||||||||||
| Proceeds from short-term and long-term debt | [3] | 0 | 570,000 | 411,347 | 110,000 | |||||||||||
| Repayments of short-term and long-term debt | [3],[4] | (498,832) | (96,724) | (257,384) | (203,130) | |||||||||||
| Repayments of Parent's funding | [3] | (136,351) | 0 | 0 | 0 | |||||||||||
| Financing arrangement fees and other costs | [3] | 0 | (7,382) | (9,960) | (1,892) | |||||||||||
| (Repayments to) / contributions from CoolCo in connection with acquisition, net of equity proceeds | [3] | 581,072 | (581,072) | 0 | 0 | |||||||||||
| Net proceeds from equity raise | [3] | 0 | 432,635 | 0 | 0 | |||||||||||
| Cash dividends paid | [3] | 0 | 0 | (74,109) | (87,511) | |||||||||||
| Net cash provided by / (used in) financing activities | [3] | (54,111) | 317,457 | 69,894 | (182,533) | |||||||||||
| Net increase / (decrease) in cash, cash equivalents and restricted cash | [3] | (27,010) | 82,185 | 28,382 | 4,261 | |||||||||||
| Cash, cash equivalents and restricted cash at beginning of year/ period | [3] | 77,902 | 50,892 | 137,338 | 133,077 | |||||||||||
| Cash, cash equivalents and restricted cash at end of year/ period | [3] | $ 50,892 | $ 133,077 | $ 165,720 | $ 137,338 | |||||||||||
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