Seapeak LLC
For the period ended Sep 30, 2024. Filed Nov 14, 2024.
View on SEC.govAbout this filing
What a company based outside the US has published at home or sent to its shareholders. It is how many foreign companies share results and news between annual reports.
Sep 30, 2024 · Filed Nov 14, 2024
SEAL-PA$25.20+0.1%Stored close · as of Nov 6, 2026
Contents
Unaudited Consolidated Statements of Income for the three and nine months ended September 30, 2024 and 2023
ITEM 1 – FINANCIAL STATEMENTS
UNAUDITED CONSOLIDATED STATEMENTS OF INCOME
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| $ | $ | $ | $ | |
| Voyage revenues (notes 6 and 10a) | 176,333 | 175,871 | 530,952 | 545,023 |
| Voyage expenses | (2,842) | (5,192) | (8,329) | (16,609) |
| Vessel operating expenses | (57,618) | (57,161) | (170,612) | (173,792) |
| Time-charter hire expenses | (2,108) | (1,997) | (6,409) | (6,487) |
| Depreciation and amortization | (35,378) | (36,470) | (105,581) | (109,750) |
| General and administrative expenses | (7,007) | (6,932) | (22,459) | (23,131) |
| Gain (loss) on sales and (write-down) of vessels (notes 6 and 14) | 3,368 | — | 4,339 | 36,008 |
| Income from vessel operations | 74,748 | 68,119 | 221,901 | 251,262 |
| Equity income (notes 3b, 7 and 10a) | 31,362 | 38,990 | 95,864 | 115,613 |
| Interest expense | (44,620) | (47,927) | (133,824) | (141,348) |
| Interest income (note 7) | 3,724 | 3,089 | 10,590 | 8,458 |
| Realized and unrealized (loss) gain on non-designated derivative instruments (note 11) | (28,065) | 47,521 | 3,465 | 67,331 |
| Foreign currency exchange (loss) gain (notes 8 and 11) | (4,789) | 1,763 | (3,485) | (29) |
| Other income (expense) (notes 3b and 5a) | 5,599 | 7,675 | (3,943) | 21,412 |
| Net income before income tax expense | 37,959 | 119,230 | 190,568 | 322,699 |
| Income tax expense (note 9) | (681) | (2,072) | (2) | (7,658) |
| Net income | 37,278 | 117,158 | 190,566 | 315,041 |
| Non-controlling interest in net income | 2,494 | 3,579 | 4,880 | 12,204 |
| Preferred unitholders' interest in net income | 6,425 | 6,294 | 19,275 | 18,794 |
| Common unitholder's interest in net income | 28,359 | 107,285 | 166,411 | 284,043 |
Related party transactions (note 10)
Subsequent events (note 16)
UNAUDITED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| $ | $ | $ | $ | |
| Net income | 37,278 | 117,158 | 190,566 | 315,041 |
| Other comprehensive (loss) income: | ||||
| Other comprehensive (loss) income before reclassifications | ||||
| Unrealized (loss) gain on qualifying cash flow hedging instruments, net of tax | (14,620) | 15,219 | 3,214 | 23,767 |
| Amounts reclassified from accumulated other comprehensive income, net of tax | ||||
| To equity income: | ||||
| Realized gain on qualifying cash flow hedging instruments | (4,233) | (4,510) | (12,921) | (11,961) |
| To interest expense: | ||||
| Realized loss on qualifying cash flow hedging instruments (note 11) | 175 | 278 | 557 | 1,007 |
| Other comprehensive (loss) income | (18,678) | 10,987 | (9,150) | 12,813 |
| Comprehensive income | 18,600 | 128,145 | 181,416 | 327,854 |
| Non-controlling interest in comprehensive income | 2,546 | 3,662 | 5,047 | 12,506 |
| Preferred unitholders' interest in comprehensive income | 6,425 | 6,294 | 19,275 | 18,794 |
| Common unitholder's interest in comprehensive income | 9,629 | 118,189 | 157,094 | 296,554 |
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