Impairment losses are taken when events or changes in circumstances occur that cause the company to believe that future cash flows for an individual vessel will be less than the carrying value and not fully recordable. In such instances, an impairment charge is recognized if the estimate of the undiscounted cash flow is expected to result from the use of the vessel and its eventual disposition is less than the vessel's carrying amount.The net loss, including the vessel impairment loss, was $24.3 million, equivalent to loss per share of $0.31. Frontline announces a net loss, excluding vessel impairment loss, of $4 million for the 6 months ended June 30, equivalent to loss per share of $0.05. The net loss, including vessel impairment loss, was $17 million -- $17.3 million for the 6-month period ended June 30, equivalent to loss per share of $0.22. Frontline will not pay dividends for the second quarter.
Frontline Management Discusses Q2 2012 Results - Earnings Call Transcript
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