v3.25.2
UNAUDITED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($)
$ in Thousands
Total
Share Capital
Additional Paid-in Capital
Contributed Surplus
 [1]
Accumulated Other Comprehensive Loss
 [2]
Accumulated Retained Earnings
Non-Controlling Interest
Beginning balance at Dec. 31, 2023 $ 2,602,443 $ 104,578 $ 1,691,128 $ 200,000 $ (5,072) $ 77,035 $ 534,774
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 101,725         81,127 20,598
Dividends (56,708)         (51,971) (4,737)
Exercise of share options 342 17 325        
Employee stock compensation 4,174   4,174        
Forfeiture of employee stock compensation (102)   (102)        
Restricted stock units 0 87 (87)        
Proceeds from subscription of equity interest in Gimi MS Corporation 27,278           27,278
Repurchase and cancellation of treasury shares (14,180) (679)       (13,501)  
Other comprehensive (loss) income (963)       (963)    
Ending balance at Jun. 30, 2024 2,664,009 104,003 1,695,438 200,000 (6,035) 92,690 577,913
Beginning balance at Dec. 31, 2024 2,369,404 104,535 1,705,093 200,000 (5,743) 10,266 355,253
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 43,718         23,836 19,882
Dividends (52,330)         (52,330)  
Exercise of share options 1,808 139 1,669        
Employee stock compensation 5,497   5,497        
Forfeiture of employee stock compensation (45)   (45)        
Restricted stock units 0 101 (101)        
Proceeds from subscription of equity interest in Gimi MS Corporation 21,020           21,020
Repurchase and cancellation of treasury shares (102,725) (2,500)       (100,225)  
Other comprehensive (loss) income 2,089       2,089    
Reacquisition of common units of Hilli LLC [3] (2,366)         (6,271) 3,905
Ending balance at Jun. 30, 2025 $ 2,286,070 $ 102,275 $ 1,712,113 $ 200,000 $ (3,654) $ (124,724) $ 400,060
[1] Contributed Surplus is “capital” that can be returned to stockholders without the need to reduce share capital, thereby giving us greater flexibility when it comes to declaring dividends.
[2] As at June 30, 2025 and 2024, our accumulated other comprehensive loss consisted of (i) $2.8 million and $5.0 million losses in relation to our pension and post-retirement benefit plan and (ii) $0.9 million and $1.0 million for our share of equity method investment’s comprehensive losses, respectively.
[3] This relates to the receipt of waived dividend distribution in relation to the repurchases of the minority interests in Hilli LLC.