Golden Ocean Group Ltd Cashflow Statement

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Financial Statements

Income Statement Balance Sheet Cashflow Statement

Consolidated Statements of Cash Flows

In millions of USD, except per-share amounts

	FY2024 12 months to Dec 31, 2024	FY2023 12 months to Dec 31, 2023	FY2022 12 months to Dec 31, 2022	FY2021 12 months to Dec 31, 2021	FY2020 12 months to Dec 31, 2020
Net income
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation
Amortization of debt issuance cost
Gain from sale of vessels
Impairment loss on vessels
Impairment loss on right of use assets
Share option expenses
Share of results of associated companies
Dividends received from associated companies
Gain from disposal of associated companies
Amortization of charter party-in contracts
Amortization of charter party-out contracts
Amortization of other fair value adjustments, net, arising on the Merger
Mark to market (gain) loss on derivatives
Mark to market (gain) loss on marketable securities
Provision for onerous contracts
Non-cash lease expense
Other
Changes in operating assets and liabilities, net:
Trade accounts receivable
Related party payables and receivables balances
Other receivables
Inventories
Voyages in progress
Prepaid expenses
Other intangible assets
Other long-term assets
Trade accounts payables
Accrued expenses
Other current liabilities

Net cash provided by operating activities
Investing activities
Dividends from associated companies
Dividends received from marketable equity securities
Payments received from seller credit receivable
Purchase of investment in associated companies
Proceeds from sale of shares in associated companies
Loan advance to related parties
Repayment of loans receivable from related parties
Additions to newbuildings
Additions to newbuildings (including related party amounts of $966, $1,387 and $455 for the years ended December 31, 2024, 2023 and 2022 respectively)
Purchase of vessels and equipment
Proceeds from sale of vessels
Proceeds from sale of marketable securities
Net cash provided by (used in) investing activities

Financing activities
Proceeds from long-term debt
Repayment of long-term debt
Repayment of finance leases
Repayment of finance leases (including related party amounts of $24,550, $24,744 and $29,059 for the years ended December 31, 2024, 2023 and 2022 respectively)
Debt fees paid
Net proceeds from share issuance
Share repurchases
Proceeds from exercise of share options
Lease incentives received
Distributions to shareholders
Net cash provided by (used in) financing activities

Net change in cash, cash equivalents and restricted cash
Cash, cash equivalents and restricted cash at beginning of year
Cash, cash equivalents and restricted cash at end of year
Supplemental disclosure of cash flow information:
Interest expenses paid, net of amounts capitalized
Income taxes paid

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