Frontline Balance Sheet

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Cash & Equivalents	189.43	413.53	308.32	254.53	113.07	174.72
Short-Term Investments	2.22	4.03	7.43	236.28	2.44	2.64
Trading Asset Securities	-	2	-	-	-	-
Cash & Short-Term Investments	191.65	419.56	315.75	490.81	115.51	177.36
Cash Growth	-41.27%	32.87%	-35.67%	324.91%	-34.87%	-0.28%
Accounts Receivable	-	226.38	242.09	246.66	105.8	80.51
Other Receivables	-	11.32	11.91	16.94	16.64	31.37
Receivables	-	237.7	254	263.59	122.44	111.88
Inventory	-	137	135.16	107.11	80.79	57.86
Prepaid Expenses	-	14.46	15.75	14.26	8.9	7.73
Restricted Cash	-	-	-	-	-	14.93
Other Current Assets	408.26	17.3	7.26	5.29	5.11	8.56
Total Current Assets	599.91	826.01	727.93	881.05	332.75	378.32
Property, Plant & Equipment	4,978	5,248	4,635	3,702	3,647	3,418
Long-Term Investments	8.78	34.21	51.5	70.3	10.23	1.28
Goodwill	112.45	112.45	112.45	112.45	112.45	112.45
Other Long-Term Assets	10.84	-	355.48	1.51	3.06	7.2
Total Assets	5,710	6,221	5,883	4,768	4,107	3,918
Accounts Payable	-	5.99	7.8	7.99	2.33	7.86
Accrued Expenses	-	75.38	72.92	71.57	33.14	41.86
Current Portion of Long-Term Debt	293.56	460.32	262	277.85	198.67	167.08
Current Portion of Leases	-	1.15	1.1	1.02	8.72	12.36
Current Income Taxes Payable	-	-	-	-	-	0.67
Current Unearned Revenue	-	2.63	-	-	3.12	5.69
Other Current Liabilities	144.73	50.19	65.23	33.22	41.02	45.85
Total Current Liabilities	438.3	595.65	409.05	391.66	287	281.36
Long-Term Debt	2,946	2,772	2,765	2,112	2,133	1,969
Long-Term Leases	-	512.51	430.78	2.37	43.98	52.64
Other Long-Term Liabilities	0.76	0.45	0.47	2.05	0.99	3.74
Total Liabilities	3,385	3,881	3,605	2,509	2,465	2,307
Common Stock	222.62	222.62	222.62	222.62	203.53	197.69
Additional Paid-In Capital	1,609	1,609	1,609	1,609	1,452	1,406
Retained Earnings	493.88	507.47	446	428.51	-13.63	8.02
Comprehensive Income & Other	0.41	1.78	0.42	0.45	0.23	0.2
Total Common Equity	2,326	2,341	2,278	2,260	1,643	1,612
Minority Interest	-0.47	-0.47	-0.47	-0.47	-0.47	-0.47
Shareholders' Equity	2,325	2,340	2,277	2,260	1,642	1,612
Total Liabilities & Equity	5,710	6,221	5,883	4,768	4,107	3,918
Total Debt	3,240	3,746	3,459	2,394	2,384	2,201
Net Cash (Debt)	-3,048	-3,326	-3,143	-1,903	-2,268	-2,024
Net Cash Per Share	-13.67	-14.94	-14.12	-8.89	-11.40	-10.23
Filing Date Shares Outstanding	222.62	222.62	222.62	222.62	203.53	197.69
Total Common Shares Outstanding	222.62	222.62	222.62	222.62	203.53	197.69
Working Capital	161.61	230.36	318.87	489.39	45.74	96.96
Book Value Per Share	10.45	10.51	10.23	10.15	8.07	8.15
Tangible Book Value	2,213	2,228	2,165	2,148	1,530	1,500
Tangible Book Value Per Share	9.94	10.01	9.73	9.65	7.52	7.59
Buildings	-	-	-	47.99	130.63	48.5
Machinery	-	6,066	5,612	4,517	4,197	3,868

Source: S&P Global Market Intelligence. Standard template. Financial Sources.