Frontline Ltd.

(NYSE:FRO)
  Sep 30, 2008 Jun 30, 2008 Mar 31, 2008 Dec 31, 2007
Assets
Current Assets
Cash & Equivalents 240,451 126,223 128,711 168,432
Restricted Cash 601,913 649,859 638,221 651,377
Marketable Securities — — — 15,684
Accounts Receivable — — — 59,523
Loans Receivable — — — —
Other Receivable — — — 43,368
Receivables — — — 102,891
Raw Materials — — — —
Work in Progress — — — —
Purchased Components — — — —
Finished Goods — — — —
Other Inventories — — — 55,435
Inventories Adjustments and Allowances — — — —
Inventories — — — 55,435
Prepaid Expenses — — — 8,424
Current Deferred Income Taxes — — — —
Other Current Assets 274,275 375,307 288,549 60,543
Total Current Assets 1,116,639 1,151,389 1,055,481 1,062,786
Land and Improvements — — — —
Building and Improvements 413,700 366,046 198,796 160,298
Machinery Furniture and Equipment 3,484,239 250,675 206,146 3,427,001
Construction in Progress — — — —
Other Fixed Assets — 3,097,197 3,157,128 —
Total Fixed Assets 3,897,939 3,713,918 3,562,070 3,587,299
Gross Fixed Assets 3,897,939 3,713,918 3,562,070 3,587,299
Accumulated Depreciation and Depletion 893,696 893,696 893,696 893,696
Net Fixed Assets 3,004,243 2,820,222 2,668,374 2,693,603
Intangibles — — — —
Cost in Excess — — — —
Non Current Deferred Income Taxes — — — —
Other Non Current Assets 29,741 29,003 25,599 5,702
Total Non Current Assets 3,033,984 2,849,225 2,693,973 2,699,305
Total Assets 4,150,623 4,000,614 3,749,454 3,762,091
Liabilities
Current Liabilities
Accounts Payable — — — 16,043
Notes Payable — — — —
Short Term Debt 582,829 527,276 368,392 276,415
Accrued Expenses — — — 101,128
Accrued Liabilities — — — 708
Deferred Revenues — — — 13,342
Current Deferred Income Tax Liabilities — — — —
Other Current Liabilities 251,274 274,026 301,890 182,590
Total Current Liabilities 834,103 801,302 670,282 590,226
Non Current Liabilities
Long Term Debt 537,596 433,832 373,663 376,723
Capital Lease Obligations 2,063,874 2,131,821 2,179,785 2,318,794
Deferred Income Tax Liabilities — — — —
Other Non Current Liabilities 22,572 20,286 29,927 30,379
Minority Interest Liabilities 5,749 5,304 4,628 —
Preferred Securities of Subsidiary Trust Liabilities — — — —
Preferred Equity Outside Stock Equity — — — —
Total Non Current Liabilities 3,463,894 3,392,545 3,258,285 3,316,122
Total Liabilities 2,629,791 2,591,243 2,588,003 2,725,896
Shareholders' Equity
Preferred Stock Equity — — — —
Common Stock Equity 686,729 608,069 491,169 445,969
Common Par — — — 187,063
Additional Paid in Capital — — — 14,242
Cumulative Translation Adjustment — — — -3,372
Retained Earnings — — — 248,360
Treasury Stock — — — —
Other Equity Adjustments 686,729 608,069 491,169 -324
Total Capitalization 1,224,325 1,041,901 864,832 822,692
Cash Flow 1,087,791 995,046 859,759 792,474
Working Capital 282,536 350,087 385,199 472,560
Free Cash Flow -510,467 -318,464 -33,684 -409,664
Invested Capital 3,288,199 3,173,722 3,044,617 3,141,486
Total Equity 686,729 608,069 491,169 445,969
Total Liabilities and Stock Equity 4,150,623 4,000,614 3,749,454 3,762,091