← SFL Corp Ltd.
| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | ||||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||||
| Adjustment of derivatives to fair value recognized in net income | ($4.4m) | ($8.2m) | ($13.9m) | $3.4m | $20.4m | ($11.6m) | ($17.1m) | $8.4m | $4.7m | $4.6m | — | |
| Net Income (Loss) Attributable to Parent | $146.4m |
$101.2m
-30.87%
|
$73.6m
-27.26%
|
$89.2m
+21.13%
|
($224.4m)
-351.66%
|
$164.3m
+173.23%
|
$202.8m
+23.38%
|
$83.9m
-58.60%
|
$130.7m
+55.66%
|
($26.4m)
-120.23%
|
— | |
| Amortization of Debt Issuance Costs | $11.0m | $9.0m | $10.2m | $8.1m | $9.0m | $6.7m | $7.2m | $7.7m | $7.6m | $8.1m | — | |
| Amortization of Intangible Assets | — | — | $1.7m | — | — | — | — | — | — | — | — | |
| Depreciation | $94.3m | $88.2m | $104.1m | $116.4m | $111.3m | $138.3m | $187.8m | $214.1m | $239.2m | $235.0m | $228.5m | |
| Amortization of deferred charges | $11.0m | $9.0m | $10.2m | $8.1m | $9.0m | $6.7m | $7.2m | $7.7m | $7.6m | $8.1m | — | |
| Amortization of deferred charter revenue | — | $0 | $1.7m | $5.4m | $6.6m | $6.7m | $3.3m | ($1.4m) | ($1.1m) | $363k | — | |
| Marketable Securities, Gain (Loss), Excluding Other-than-temporary Impairment Loss | — | — | $0 | — | — | — | — | — | — | — | — | |
| Vessel impairment charge | $5.3m | $0 | $64.3m | $60.1m | $333.1m | $1.9m | $0 | $7.4m | $0 | $34.1m | — | |
| Asset Impairment Charge | — | — | — | — | — | — | $0 | $7.4m | $0 | $34.1m | $0 | |
| Equity Method Investment, Realized Gain (Loss) on Disposal | $0 | — | — | — | — | — | — | — | — | — | — | |
| Income (Loss) from Equity Method Investments | $27.8m | $23.8m | $14.6m | $17.1m | $4.3m | $4.2m | $2.8m | $2.8m | $2.8m | $2.4m | — | |
| Other Nonoperating Income (Expense) | ($2.1m) | ($2.7m) | $10.4m | ($12.8m) | ($25.9m) | $6.7m | $15.5m | ($1.2m) | $2.5m | $2.2m | — | |
| Earnings (Loss)es From Equity Investments | — | — | — | — | — | — | ($2.8m) | ($2.8m) | ($2.8m) | ($2.4m) | ($2.4m) | |
| Changes in operating assets and liabilities: | ||||||||||||
| Change In Working Capital | — | — | — | — | — | — | ($13.0m) | $26.2m | ($12.4m) | $13.1m | ($31.4m) | |
| Increase (Decrease) in Accounts Receivable | $1.5m | $9.0m | ($9.6m) | $1.6m | $2.4m | $4.1m | $9.0m | $20.9m | ($4.3m) | ($25.3m) | $25.3m | |
| Trade accounts receivable | ($1.5m) | ($9.0m) | $9.6m | ($1.6m) | ($2.4m) | ($4.1m) | ($9.0m) | ($20.9m) | $4.3m | $25.3m | — | |
| Change In Receivables | — | — | — | — | — | — | ($9.0m) | ($20.9m) | $4.3m | $25.3m | $25.3m | |
| Changes In Account Receivables | — | — | — | — | — | — | ($9.0m) | ($20.9m) | $4.3m | $25.3m | $25.3m | |
| Increase (Decrease) in Inventories | $27k | $42k | $3.4m | ($613k) | $873k | $1.3m | $6.3m | ($4.7m) | $5.7m | ($3.6m) | $3.6m | |
| Inventories | ($27k) | ($42k) | ($3.4m) | $613k | ($873k) | ($1.3m) | ($6.3m) | $4.7m | ($5.7m) | $3.6m | $3.6m | |
| Change In Inventory | — | — | — | — | — | — | ($6.3m) | $4.7m | ($5.7m) | $3.6m | $3.6m | |
| Trade accounts payable | $394k | ($742k) | $2.4m | $1.5m | ($2.2m) | $447k | $6.1m | $22.4m | $4.0m | ($27.0m) | — | |
| Change In Payables And Accrued Expense | — | — | — | — | — | — | $19.2m | $43.1m | $25.3m | ($16.6m) | ($27.0m) | |
| Prepaid expenses and accrued income | $2.2m | $1.3m | ($301k) | $958k | ($962k) | ($3.8m) | ($10.7m) | $638k | ($2.0m) | ($5.0m) | — | |
| Accrued expenses and other current liabilities | ($11.8m) | $460k | $2.6m | $475k | $3.3m | $275k | $13.1m | $20.7m | $21.2m | $10.4m | — | |
| Change In Accrued Expense | — | — | — | — | — | — | $13.1m | $20.7m | $21.2m | $10.4m | $10.4m | |
| Other current assets | $0 | $0 | ($157k) | $2k | ($2.6m) | $6.5m | ($11.0m) | ($3.1m) | ($31.2m) | $7.4m | $7.4m | |
| Net Cash Provided by (Used in) Operating Activities | $230.1m |
$177.8m
-22.72%
|
$201.0m
+13.04%
|
$249.7m
+24.25%
|
$276.5m
+10.72%
|
$293.6m
+6.19%
|
$355.1m
+20.96%
|
$343.1m
-3.39%
|
$369.9m
+7.80%
|
$267.1m
-27.77%
|
$222.6m
-16.67%
|
|
| Cash flows from investing activities: | ||||||||||||
| Gain (Loss) on Disposition of Property Plant Equipment | — | — | — | — | — | — | — | — | — | $15.8m | ($31.7m) | |
| Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property | ($167k) | ($1.7m) | ($2.6m) | $0 | $2.2m | $39.4m | $13.2m | $18.7m | $5.4m | — | ($31.7m) | |
| Capital Expenditure | — | — | — | — | — | — | ($602.5m) | ($264.4m) | ($644.9m) | ($70.5m) | ($57.8m) | |
| Debt Securities, Available-for-sale, Realized Gain (Loss) | — | — | — | — | — | — | $5.2m | $0 | — | — | — | |
| Payments to Acquire Investments | — | — | — | — | — | — | $0 | $0 | — | — | $0 | |
| Other investments and long-term assets, net | ($25.5m) | ($4.0m) | $32.7m | ($18.2m) | $15.7m | ($1.3m) | $0 | ($275k) | ($300k) | $0 | — | |
| Net Other Investing Changes | — | — | — | — | — | $10.0m | $2.2m | $1.7m | $2.1m | — | $2.1m | |
| Net Cash Provided by (Used in) Investing Activities | $39.4m | $48.4m | ($866.6m) | ($169.9m) | $176.3m | ($389.1m) | ($499.1m) | ($103.9m) | ($617.5m) | $188.1m | $249.1m | |
| Cash flows from financing activities: | ||||||||||||
| Gain (Loss) on Extinguishment of Debt | ($8.8m) | ($2.3m) | $1.1m | $1.8m | $67.5m | ($727k) | $0 | ($540k) | ($1.3m) | ($144k) | — | |
| Debt and Equity Securities, Gain (Loss) | — | — | — | $67.7m | ($22.5m) | $995k | $18.2m | ($1.9m) | ($854k) | ($39k) | — | |
| Debt and Equity Securities, Realized Gain (Loss) | — | — | $13.5m | — | — | — | — | — | — | — | — | |
| Capitalized lease debt financing interest | — | — | — | — | — | — | — | $2.9m | $6.7m | $8.1m | — | |
| Proceeds from issuance of short-term and long-term debt | $522.0m | $302.1m | $826.0m | $458.8m | $397.2m | $586.8m | $959.6m | $944.6m | $1.4b | $244.0m | — | |
| Repayments of short-term and long-term debt | ($329.3m) | ($179.4m) | ($778.7m) | ($208.5m) | ($624.6m) | ($301.5m) | ($611.3m) | ($781.1m) | ($556.7m) | ($527.3m) | — | |
| Debt fees paid | ($5.1m) | ($2.6m) | ($8.3m) | ($4.3m) | ($4.8m) | ($8.0m) | ($7.1m) | ($12.4m) | ($13.7m) | ($3.2m) | — | |
| Issuance Of Debt | — | — | — | — | — | — | $959.6m | $944.6m | $1.4b | $244.0m | $244.0m | |
| Long Term Debt Issuance | — | — | — | — | — | $0 | — | — | — | $244.0m | $244.0m | |
| Long Term Debt Payments | — | — | — | — | — | — | ($51.2m) | ($259.5m) | ($552.5m) | ($11.1m) | ($107.8m) | |
| Net Issuance Payments Of Debt | — | — | — | — | — | — | $297.1m | ($96.0m) | $289.2m | ($294.4m) | ($394.4m) | |
| Net Long Term Debt Issuance | — | — | — | — | — | — | ($51.2m) | ($259.5m) | ($552.5m) | ($11.1m) | ($111.2m) | |
| Net Short Term Debt Issuance | — | — | — | — | — | — | $348.3m | $163.5m | $841.7m | ($283.2m) | ($283.2m) | |
| Repayment Of Debt | — | — | — | — | — | — | ($662.5m) | ($1.0b) | ($1.1b) | ($538.4m) | ($107.8m) | |
| Short Term Debt Issuance | — | — | — | — | — | — | $959.6m | $944.6m | $1.4b | $244.0m | $244.0m | |
| Short Term Debt Payments | — | — | — | — | — | — | ($611.3m) | ($781.1m) | ($556.7m) | ($527.3m) | ($527.3m) | |
| Payments for Repurchase of Common Stock | — | — | — | — | — | — | — | $10.2m | — | $10.0m | — | |
| Payments of Ordinary Dividends, Common Stock | $168 | $153 | $149 | $151 | $109 | $78 | $112 | $123 | $138 | $125 | ($115.5m) | |
| Proceeds from Issuance of Common Stock | $323k | $88k | $0 | $0 | $61.5m | $89.3m | $0 | $0 | $96.2m | — | $96.2m | |
| Common Stock Dividend Paid | — | — | — | — | — | — | ($111.6m) | ($123.0m) | ($138.5m) | ($125.1m) | ($115.5m) | |
| Common Stock Issuance | — | — | — | — | — | $89.3m | $0 | $0 | — | — | $96.2m | |
| Common Stock Payments | — | — | — | — | — | $0 | $0 | ($10.2m) | — | ($10.0m) | ($10.0m) | |
| Issuance Of Capital Stock | — | — | — | — | — | $89.3m | $0 | $0 | — | — | $96.2m | |
| Net Common Stock Issuance | — | — | — | — | — | — | $0 | ($10.2m) | $96.2m | ($10.0m) | ($6.0m) | |
| Repurchase Of Capital Stock | — | — | — | — | — | $0 | $0 | ($10.2m) | — | ($10.0m) | ($10.0m) | |
| Other Interest and Dividend Income | $2.2m | $3.6m | $2.9m | $4.3m | $876k | $86k | $2.9m | $9.1m | $9.2m | $10.2m | — | |
| Cash dividends paid | ($168) | ($153) | ($149) | ($151) | ($109) | ($78) | ($112) | ($123) | ($138) | ($125) | ($115.5m) | |
| Net Other Financing Charges | — | — | — | — | — | — | ($7.1m) | ($32.9m) | ($30.3m) | ($9.4m) | ($2.2m) | |
| Net Cash Provided by (Used in) Financing Activities | ($277.3m) |
($135.5m)
+51.13%
|
$724.9m
+635.05%
|
($89.2m)
-112.31%
|
($431.4m)
-383.65%
|
$25.0m
+105.80%
|
$178.4m
+612.98%
|
($262.1m)
-246.93%
|
$216.7m
+182.69%
|
($439.0m)
-302.56%
|
($518.1m)
-18.02%
|
|
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | — | — | $59.3m | ($9.4m) | $21.4m | ($70.4m) | $34.4m | ($22.9m) | ($30.9m) | $16.3m | $127.6m | |
| Beginning Cash Position | — | — | — | — | — | — | $154.0m | $188.4m | $165.5m | $134.6m | $173.9m | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | — | $212.4m | $203.0m | $224.4m | $154.0m | $188.4m | $165.5m | $134.6m | $150.8m | $127.6m | |
| Additional Supplementary Disclosures | ||||||||||||
| Additional Supplementary Disclosures | ||||||||||||
| Supplemental disclosure of cash flow information: | ||||||||||||
| Interest Paid, Excluding Capitalized Interest, Operating Activities | $65.2m | $88.2m | $104.6m | $72.3m | $71.5m | $71.0m | $109.7m | $148.5m | $161.2m | $161.7m | — | |
| Income Taxes Paid, Net | — | — | — | — | — | — | $0 | $2.0m | $8.3m | $2.8m | — | |
| Additional Financial Items | ||||||||||||
| Equity Securities, FV-NI, Realized Gain (Loss) | — | — | — | $40.8m | $4.9m | $725k | $4.6m | $0 | — | — | — | |
| Equity Securities, FV-NI, Unrealized Gain (Loss) | — | — | $12.3m | $29.1m | ($22.4m) | $1.1m | $8.4m | ($1.9m) | ($854k) | ($39k) | — | |
| Foreign Currency Transaction Gain (Loss), before Tax | $146k | $4.5m | $2.0m | $300k | $5.6m | ($400k) | ($700k) | ($100k) | — | — | — | |
| Gain (Loss) on Disposition of Assets | — | — | — | — | — | — | — | $18.7m | $5.4m | $15.8m | — | |
| Gain (Loss) on Sale of Financing Receivable | $0 | $0 | — | — | — | — | — | — | — | — | — | |
| Income Tax Expense (Benefit) | — | — | — | — | — | — | — | $3.3m | $10.6m | $1.9m | — | |
| Interest Expense Nonoperating | — | — | — | — | — | — | — | — | $183.0m | $180.5m | — | |
| Operating Expenses | $244.7m | $227.4m | $306.1m | $321.1m | $611.5m | $310.0m | $408.1m | $530.8m | $603.1m | $589.2m | — | |
| Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax | $0 | ($1.6m) | $3.1m | — | — | — | — | — | — | — | — | |
| Payments of Financing Costs | $5.1m | $2.6m | $8.3m | $4.3m | $4.8m | $8.0m | $7.1m | $12.4m | $13.7m | $3.2m | — | |
| Proceeds from Stock Options Exercised | — | $100k | $0 | — | — | — | — | — | — | — | — | |
| Provision for Loan, Lease, and Other Losses | — | — | — | — | — | — | — | — | — | ($464k) | — | |
| Financing Receivable, Credit Loss, Expense (Reversal) | — | — | — | — | $1.9m | — | — | — | — | — | — | |
| Unrealized Gain (Loss) on Derivatives | $4.4m | $8.2m | $13.9m | ($3.4m) | ($20.4m) | $11.6m | $17.1m | ($8.4m) | ($4.7m) | ($4.6m) | — | |
| Net (loss)/income | $146.4m | $101.2m | $73.6m | $89.2m | ($224.4m) | $164.3m | $202.8m | $83.9m | $130.7m | ($26.4m) | — | |
| Equity in earnings of associated companies | ($27.8m) | ($23.8m) | ($14.6m) | ($17.1m) | ($4.3m) | ($4.2m) | ($2.8m) | ($2.8m) | ($2.8m) | ($2.4m) | — | |
| Gain on sale of assets, net | — | — | — | — | — | ($39.4m) | ($13.2m) | ($18.7m) | ($5.4m) | ($15.8m) | — | |
| Repayments from investment in sales-type leases and leaseback assets | — | — | — | — | — | — | — | $13.9m | $8.6m | $4.0m | — | |
| Loss on repurchase of bonds | $8.8m | $2.3m | ($1.1m) | ($1.8m) | ($67.5m) | $727k | $0 | $540k | $1.3m | $144k | — | |
| Other, net | $365k | $4.0m | $1.1m | ($4.6m) | ($6.6m) | $1.1m | $1.4m | $2.0m | ($1.4m) | $4.2m | — | |
| Due to/ from related parties | $8.4m | $10.5m | ($1.3m) | $5.7m | $21.0m | ($4.3m) | $4.8m | $1.8m | ($3.2m) | ($1.7m) | — | |
| Purchase of vessels, capital improvements and other additions | — | — | ($1.1b) | ($39.3m) | ($55.0m) | ($520.3m) | ($602.5m) | ($264.4m) | ($644.9m) | ($70.5m) | — | |
| Proceeds from sale of assets | — | — | — | — | — | $183.9m | $83.3m | $156.2m | $22.7m | $258.6m | — | |
| Net amounts received from associated companies | — | — | — | $15.9m | $31.5m | $10.0m | $2.9m | $2.9m | $2.8m | $0 | — | |
| Collateral deposits received on swap agreements | — | — | — | — | — | ($10.0m) | $2.2m | $1.7m | $2.1m | $0 | — | |
| Repayments of lease obligation liability | ($97k) | ($5.3m) | ($11.7m) | ($63.7m) | ($68.6m) | ($48.9m) | ($51.2m) | ($53.7m) | ($419.3m) | $0 | — | |
| Repurchase of bonds | ($296.8m) | ($68.4m) | ($97.2m) | ($80.7m) | ($66.6m) | ($215.1m) | $0 | ($205.8m) | ($133.1m) | ($11.1m) | — | |
| Principal settlements of cross currency swaps, net | $0 | ($29.2m) | $0 | ($41.8m) | ($11.7m) | $0 | $0 | ($20.4m) | ($16.5m) | ($6.3m) | — | |
| Cash received/(paid) for shares issued or repurchased | — | — | — | — | — | $0 | $0 | ($10.2m) | $96.2m | ($10.0m) | — | |
| Net change in cash and cash equivalents | ($7.8m) | $90.7m | $59.3m | ($9.4m) | $21.4m | ($70.4m) | $34.4m | ($22.9m) | ($30.9m) | $16.3m | — | |
| Cash and cash equivalents at start of the year | $62.4m | $153.1m | $212.4m | $203.0m | $224.4m | $154.0m | $188.4m | $165.5m | $134.6m | $150.8m | — | |
| Cash and cash equivalents | $62.4m | $153.1m | — | $199.5m | $215.4m | $145.6m | $188.4m | $165.5m | $134.6m | $150.8m | $173.9m | |
| Cash Flow From Continuing Financing Activities | — | — | — | — | — | — | $178.4m | ($262.1m) | $216.7m | ($439.0m) | ($518.1m) | |
| Cash Flow From Continuing Investing Activities | — | — | — | — | — | — | ($499.1m) | ($103.9m) | ($617.5m) | $188.1m | $249.1m | |
| Change In Account Payable | — | — | — | — | — | — | $6.1m | $22.4m | $4.0m | ($27.0m) | ($27.0m) | |
| Change In Cash Supplemental As Reported | — | — | — | — | — | — | $34.4m | ($22.9m) | ($30.9m) | $16.3m | — | |
| Change In Other Working Capital | — | — | — | — | — | — | $4.8m | $1.8m | ($3.2m) | ($1.7m) | ($1.7m) | |
| Change In Payable | — | — | — | — | — | — | $6.1m | $22.4m | $4.0m | ($27.0m) | ($27.0m) | |
| Change In Prepaid Assets | — | — | — | — | — | — | ($10.7m) | $638k | ($2.0m) | ($5.0m) | ($5.0m) | |
| Changes In Cash | — | — | — | — | — | — | $34.4m | ($22.9m) | ($30.9m) | $16.3m | ($46.4m) | |
| End Cash Position | — | — | — | — | — | — | $188.4m | $165.5m | $134.6m | $150.8m | $127.6m | |
| Financing Cash Flow | — | — | — | — | — | — | $178.4m |
($262.1m)
-246.93%
|
$216.7m
+182.69%
|
($439.0m)
-302.56%
|
($518.1m)
-18.02%
|
|
| Free Cash Flow | — | — | — | — | — | — | ($247.4m) | $78.7m | ($275.0m) | $196.7m | $164.8m | |
| Gain Loss On Investment Securities | — | — | — | — | — | — | ($35.3m) | $8.4m | $4.7m | $4.6m | ($2.0m) | |
| Gain Loss On Sale Of Business | — | — | — | — | — | $0 | $0 | — | — | — | $0 | |
| Investing Cash Flow | — | — | — | — | — | — | ($499.1m) | ($103.9m) | ($617.5m) | $188.1m | $249.1m | |
| Net Business Purchase And Sale | — | — | — | — | — | — | $2.9m | $2.9m | $2.8m | $0 | $0 | |
| Net Investment Purchase And Sale | — | — | — | — | — | — | $15.0m | ($275k) | ($300k) | $0 | $0 | |
| Net PPE Purchase And Sale | — | — | — | — | — | — | ($519.2m) | ($108.2m) | ($622.1m) | $188.1m | $249.1m | |
| Operating Gains Losses | — | — | — | — | — | — | ($51.4m) | ($12.6m) | ($2.1m) | ($13.4m) | ($31.7m) | |
| Other Non Cash Items | — | — | — | — | — | — | $28.9m | $24.1m | $14.6m | $24.8m | — | |
| Purchase Of Investment | — | — | — | — | — | — | $0 | ($275k) | ($300k) | $0 | $0 | |
| Purchase Of PPE | — | — | — | — | — | — | ($602.5m) | ($264.4m) | ($644.9m) | ($70.5m) | ($57.8m) | |
| Sale Of Business | — | — | — | — | — | — | $2.9m | $2.9m | $2.8m | $0 | $0 | |
| Sale Of Investment | — | — | — | — | — | $10.0m | $15.0m | $1.7m | $0 | — | ($4.3m) | |
| Sale Of PPE | — | — | — | — | — | — | $83.3m | $156.2m | $22.7m | $258.6m | $306.9m |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.