← NORDIC AMERICAN TANKERS Ltd

Annual Trend FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
Cash flows from operating activities:
Adjustments to reconcile net income to net cash provided by operating activities:
Net Income From Continuing Operations — — — — — — $15.1m $98.7m $46.6m $12.3m
Net Income (Loss) Attributable to Parent ($4.5m) ($205.0m) ($95.3m) ($10.4m) $50.0m ($171.3m) $15.1m $98.7m $46.6m $12.3m
Amortization of Debt Issuance Costs $1.4m $1.4m $15.3m $4.3m $4.4m $3.0m $3.6m $1.4m $850k $745k
Amortization of Debt Issuance Costs and Discounts — — — — — — — — — $745k
Depreciation $90.9m $100.7m $60.7m $64.0m $67.8m $68.4m $50.4m $51.4m $56.2m $57.7m
Depreciation Expense $90.9m $100.7m $60.7m $64.0m $67.8m $68.4m $50.4m $51.4m $56.2m $57.7m
Amortization of Deferred Finance Costs $1.4m $1.4m $15.3m $4.3m $4.4m $3.0m $3.6m $1.4m $850k $745k
Depreciation Amortization Depletion — — — — — — $50.4m $51.4m $56.2m $57.7m
Share-based Payment Arrangement, Noncash Expense $430k $522k $413k $156k $285k $339k $476k $2.2m $1.8m $0
Equity Method Investment, Other than Temporary Impairment $37.3m $0 $2.6m — — — — — — —
Goodwill, Impairment Loss — $19.0m $0 $0 — — — — — —
Impairment Loss on Vessels $0 $110.5m $2.2m $0 $0 $60.3m $314k $0 $0 $0
Share-based Compensation $430k $522k $413k $156k $285k $339k $476k $2.2m $1.8m $0
Asset Impairment Charge — — — — — — $314k $0 $0 $0
Gain (Loss) on Disposition of Property Plant Equipment — — $5.7m — — — $6.0m $0 $0 $16.6m
Gain (Loss) on Disposition of Assets — — ($6.6m) $0 $0 — — — — —
Income (Loss) from Equity Method Investments $0 — ($7.7m) $0 $0 — — — — —
Income Tax Expense (Benefit) $102k $83k $79k $71k $64k $59k $23k $120k ($10k) $48k
Interest Expense Nonoperating — — — — — — — — $30.7m $35.8m
Other Nonoperating Income (Expense) ($98k) ($644k) ($14.7m) ($4.2m) $255k ($429k) $312k $137k ($670k) $118k
Changes in operating assets and liabilities:
Additional Financial Items
Increase (Decrease) in Accounts Receivable ($10.1m) $4.3m $357k $2.0m ($18.1m) $3.0m $11.1m $5.8m ($10.1m) $2.9m
Increase (Decrease) in Inventories $6.0m $2.2m ($2.8m) $2.2m ($3.1m) $1.5m $4.6m $5.8m ($9.3m) ($2.0m)
Equity Securities, FV-NI, Unrealized Gain (Loss) — — — ($3.2m) — — — — — —
Gain (Loss) on Investments ($46.6m) ($8.4m) — — — — — — — —
Gain (Loss) Related to Litigation Settlement — $0 $0 — — — — — — —
General and Administrative Expense $12.3m $12.6m $12.7m $13.5m $17.6m $15.6m $18.8m $22.9m $28.8m $28.1m
Goodwill $19.0m $0 — — — — — — — —
Investment Income, Interest — — $334k $298k $96k $3k $0 $1.3m $731k $1.6m
Nonoperating Income (Expense) ($11.1m) ($20.8m) ($48.9m) ($42.3m) ($31.1m) ($26.8m) ($26.7m) ($29.1m) ($30.7m) ($34.0m)
Operating Costs and Expenses $80.3m $87.7m $80.4m $66.0m $66.9m $67.7m $63.4m $60.0m $62.8m $66.9m
Payments of Financing Costs $130k $13.1m $0 $6.9m $320k $1.1m $0 $669k $0 $2.5m
Provision for Loan, Lease, and Other Losses — — — — $25.0m $75.0m $130k $88k $195k $406.1m
Gain on Disposal of Vessels — — — — $0 $0 ($6.0m) $0 $0 ($16.6m)
Drydock Expenditure ($15.4m) ($18.8m) ($5.2m) ($4.2m) ($21.0m) ($7.3m) ($8.2m) ($9.5m) ($1.9m) ($17.3m)
Other, net $0 ($163k) $22k ($66k) ($739k) $502k $84k ($150k) ($590k) $273k
Accounts Receivables $10.1m ($4.3m) ($357k) ($2.0m) $18.1m ($3.0m) ($11.1m) ($5.8m) $10.1m ($2.9m)
Inventory ($6.0m) ($2.2m) $2.8m ($2.2m) $3.1m ($1.5m) ($4.6m) ($5.8m) $9.3m $2.0m
Prepaid Expenses and Other Current Assets $415k ($904k) $1.8m ($1.1m) ($330k) $286k ($2.7m) $2.6m ($2.8m) ($2.8m)
Accounts Payable and Accrued Liabilities $668k $1.1m ($7.1m) $10.1m ($19.3m) $11.7m $230k ($8.5m) $4.0m ($2.6m)
Voyages in Progress $1.7m $20.3m ($5.1m) $2.0m $8.5m ($5.8m) ($13.5m) $12.8m $4.6m ($11.0m)
Investment in Vessels ($138.3m) ($37.6m) ($4.8m) ($2.5m) ($6.8m) ($3.9m) ($5.1m) ($73.5m) ($870k) ($134.4m)
Investment in other Fixed Assets ($87k) $0 ($60k) $0 ($233k) ($589k) $0 ($144k) ($1.8m) $0
Proceeds from Sale of Vessels $0 $0 $89.6m $0 $0 $14.3m $81.1m $0 $0 $46.8m
Proceeds from Borrowing activities — $0 $0 $300.0m $29.3m $0 $0 $0 $0 $190.7m
Repurchase of Equity Awards — — — — — — $0 $0 ($3.5m) $0
Proceeds from Vessel Financing $0 $0 $12.5m $0 $0 $0 $88.0m $54.0m $0 $0
Repayment of Vessel financing $0 $0 ($2.4m) ($7.3m) ($7.6m) ($8.0m) ($11.5m) ($14.7m) ($20.7m) ($26.2m)
Repayments on Borrowing Facility — $0 $0 ($14.3m) ($67.9m) ($30.8m) ($93.9m) ($44.5m) ($12.1m) ($8.2m)
Transaction Costs Borrowing Facilities ($130k) ($13.1m) $0 ($6.9m) ($320k) ($1.1m) $0 ($669k) $0 ($2.5m)
Beginning Cash Position — — — — — — $44.6m $63.3m $33.4m $44.4m
Cash Flow From Continuing Financing Activities — — — — — — $9.0m ($95.7m) ($115.1m) $69.0m
Cash Flow From Continuing Investing Activities — — — — — — ($14.3m) ($73.7m) ($2.6m) ($87.7m)
Change In Inventory — — — — — — ($4.6m) ($5.8m) $9.3m $2.0m
Change In Other Current Assets — — — — — — ($13.5m) $12.8m $4.6m ($11.0m)
Change In Payables And Accrued Expense — — — — — — $230k ($8.5m) $4.0m ($2.6m)
Change In Prepaid Assets — — — — — — ($2.7m) $2.6m ($2.8m) ($2.8m)
Change In Receivables — — — — — — ($11.1m) ($5.8m) $10.1m ($2.9m)
Change In Working Capital — — — — — — ($31.6m) ($4.7m) $25.1m ($17.3m)
Changes In Account Receivables — — — — — — ($11.1m) ($5.8m) $10.1m ($2.9m)
Changes In Cash — — — — — — $18.8m ($29.9m) $10.5m $1.1m
End Cash Position — — — — — — $63.3m $33.4m $44.4m $45.9m
Financing Cash Flow — — — — — — $9.0m ($95.7m) ($115.1m) $69.0m
Free Cash Flow — — — — — — ($71.3m) $65.8m $125.5m ($114.6m)
Gain Loss On Sale Of PPE — — — — — — ($6.0m) $0 $0 ($16.6m)
Investing Cash Flow — — — — — — ($14.3m) ($73.7m) ($2.6m) ($87.7m)
Issuance Of Capital Stock — — — — — — $49.1m $0 $8.9m $0
Net PPE Purchase And Sale — — — — — — ($14.3m) ($73.7m) ($2.6m) ($87.7m)
Operating Gains Losses — — — — — — ($6.0m) — — ($16.6m)
Other Non Cash Items — — — — — — ($4.5m) ($8.2m) ($1.6m) ($16.3m)
Purchase Of PPE — — — — — — ($95.4m) ($73.7m) ($2.6m) ($134.4m)
Repurchase Of Capital Stock — — — — — — $0 $0 ($3.5m) $0
Sale Of PPE — — — — — — $81.1m $0 $0 $46.8m
Stock Based Compensation — — — — — — $476k $2.2m $1.8m $0
Unrealized Gain Loss On Investment Securities — — — — — $0 $0 — — —
Net Cash Provided by (Used in) Operating Activities $127.8m $31.7m ($16.1m) $52.9m $110.9m ($44.5m) $24.1m $139.4m $128.2m $19.8m
Cash flows from investing activities:
Capital Expenditure — — — — — — ($95.4m) ($73.7m) ($2.6m) ($134.4m)
Net Investment Purchase And Sale — — — — — $0 $0 — — —
Gain (Loss) on Sale of Investments $0 — — — — — — — — —
Sale Of Investment — — — — — $0 $0 — — —
Payments for (Proceeds from) Other Investing Activities $0 — — — — — — — — —
Net Cash Provided by (Used in) Investing Activities ($186.8m) ($46.5m) $85.1m ($2.3m) ($17.5m) ($3.5m) ($14.3m) ($73.7m) ($2.6m) ($87.7m)
Cash flows from financing activities:
Issuance Of Debt — — — — — — $88.0m $54.0m $0 $190.7m
Long Term Debt Issuance — — — — — — $88.0m $54.0m $0 $190.7m
Net Issuance Payments Of Debt — — — — — — ($17.4m) ($5.2m) ($32.7m) $156.2m
Net Long Term Debt Issuance — — — — — — ($17.4m) ($5.2m) ($32.7m) $156.2m
Long Term Debt Payments — — — — — — ($105.4m) ($59.2m) ($32.7m) ($34.5m)
Repayment Of Debt — — — — — — ($105.4m) ($59.2m) ($32.7m) ($34.5m)
Proceeds from Issuance of Common Stock $120.1m $103.7m $0 $17.9m $20.7m $80.1m $49.1m $0 $8.9m $0
Common Stock Issuance — — — — — — $49.1m $0 $8.9m $0
Net Common Stock Issuance — — — — — — $49.1m $0 $5.4m $0
Payments of Ordinary Dividends, Common Stock $125.7m $54.2m $9.9m $14.3m $67.2m $9.7m $22.7m $89.8m $87.7m $84.7m
Common Stock Payments — — — — — — $0 $0 ($3.5m) $0
Dividends Payable, Current — — — — — — — $12.5m $8.5m $0
Payments of Dividends $125.7m $59.1m $9.9m $14.3m $67.2m $9.7m — $89.8m $75.1m $76.2m
Dividends Distributed ($125.7m) ($54.2m) ($9.9m) ($14.3m) ($67.2m) ($9.7m) ($22.7m) ($89.8m) ($87.7m) ($84.7m)
Cash Dividends Paid — — — — — — ($22.7m) ($89.8m) ($87.7m) ($84.7m)
Common Stock Dividend Paid — — — — — ($9.7m) ($22.7m) — — —
Net Other Financing Charges — — — — — ($1.1m) — ($669k) — ($2.5m)
Net Cash Provided by (Used in) Financing Activities — ($19.0m) ($78.0m) ($38.3m) ($93.1m) $30.5m $9.0m ($95.7m) ($115.1m) $69.0m
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents $15k ($64k) $51k $23k $39k ($12k) ($142k) ($44k) $536k $361k
Effect of Exchange Rate Changes on Cash and Cash Equivalents $15k ($64k) $51k $23k $39k ($12k) ($142k) ($44k) $536k $361k
Effect Of Exchange Rate Changes — — — — — — ($142k) ($44k) $536k $361k
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect — ($33.7m) ($9.1m) $12.3m $393k ($17.4m) $18.8m ($29.9m) $10.5m $1.1m
Net Increase / (Decrease) in Cash, Cash Equivalents, and Restricted Cash — ($33.7m) ($9.1m) $12.3m $393k ($17.4m) $18.8m ($29.9m) $10.5m $1.1m
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents — ($33.7m) ($9.1m) $61.6m $62.1m $44.6m $63.3m $33.4m $44.4m $45.9m
Cash, Cash Equivalents, and Restricted Cash at Beginning of Year — $58.4m $49.3m $61.6m $62.1m $44.6m $63.3m $33.4m $44.4m $45.9m
Cash and Cash Equivalents $82.2m $58.4m $49.3m $48.8m $57.8m $34.7m $59.6m $31.1m $39.2m $45.9m
Restricted Cash $10.1m $0 $0 $12.8m $4.2m $9.9m $3.7m $2.3m $5.2m $0
Supplemental disclosure of cash flow information:
Change In Cash Supplemental As Reported — — — — — — $18.8m ($29.9m) $10.5m $1.1m
Interest Paid, Excluding Capitalized Interest, Operating Activities $9.8m $19.5m $32.3m $35.6m $27.1m $23.4m $23.5m $29.0m $29.9m $35.0m
Income Taxes Paid, Net $96k $102k $83k $79k $71k $64k $59k $23k $10k $33k

Data sourced from SEC EDGAR 10-K filings via EdgarTools. Amounts are shown in USD as reported in each fiscal year filing.