Genco Shipping & Trading Limited (GNK) financial statements (2022 and earlier)

Company profile

Business Address 299 PARK AVENUE
NEW YORK, NY 10171
State of Incorp.
Fiscal Year End December 31
SIC 4412 - Deep Sea Foreign Transportation of Freight (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments115144156197174133121
Cash and cash equivalents115144156197174133121
Restricted cash and investments635657820
Receivables22151623161113
Inventory, net of allowances, customer advances and progress billings25222730 1010
Inventory25222730 1010
Prepaid expense3333134
Capitalized contract cost222 
Assets held-for-sale, not part of disposal group 22106 5 
Other current assets1212234
Other undisclosed current assets122416  
Total current assets:175247223270217173173
Noncurrent Assets
Operating lease, right-of-use asset57 
Property, plant and equipment7662111
Long-term investments and receivables      12
Long-term investments      12
Derivative instruments and hedges1      
Deposits noncurrent assets19   111
Restricted cash and investments000023270
Deferred costs      13
Other undisclosed noncurrent assets9959721,2991,3541,2791,3671,524
Total noncurrent assets:1,0289861,3061,3571,3041,3961,552
TOTAL ASSETS:1,2031,2331,5291,6271,5211,5691,724
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:30235029232327
Accounts payable91226151078
Other undisclosed accounts payable and accrued liabilities21112414131619
Deferred revenue108 
Debt 827066245588
Deferred revenue and credits511
Contract with customer, liability7 
Other undisclosed current liabilities2 26   
Total current liabilities:421141281025229617
Noncurrent Liabilities
Long-term debt and lease obligation244367413469491508 
Long-term debt, excluding current maturities238359413469491508 
Operating lease, liability68 
Liabilities, other than long-term debt 7 3321
Deferred revenue and credits3321
Deferred revenue 7 
Other undisclosed noncurrent liabilities(6) 10    
Total noncurrent liabilities:2443744234724935101
Total liabilities:286488550574546539618
Stockholders' equity
Stockholders' equity attributable to parent9177459781,0539751,0301,106
Preferred stock     121 
Common stock0000001
Additional paid in capital1,7021,7131,7211,7401,6281,5041,482
Accumulated other comprehensive income (loss)1     (0)
Accumulated deficit(787)(969)(743)(687)(654)(595)(377)
Stockholders' equity attributable to noncontrolling interest0      
Total stockholders' equity:9177459781,0539751,0301,106
TOTAL LIABILITIES AND EQUITY:1,2031,2331,5291,6271,5211,5691,724

Income statement (P&L) ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Revenues547356389368210136154
Revenue, net210136154
Cost of revenue(326)(536)(366)(291)(203)(211)(306)
Cost of goods and services sold(82)(87)(96)(97)(98)(114)(122)
Gross profit:221(180)24777(76)(152)
Operating expenses(20)(23)(52)(76)(36)(111)(41)
Operating income (loss):201(203)(28)1(30)(186)(193)
Nonoperating expense(19)(22)(28)(33)(29)(30)(59)
Interest and debt expense(20)(22)(32)(5)(30)(28)(20)
Other undisclosed income from continuing operations before equity method investments, income taxes     2819
Income (loss) from continuing operations before equity method investments, income taxes:162(248)(88)(37)(89)(217)(253)
Other undisclosed income from continuing operations before income taxes   530  
Income (loss) from continuing operations before income taxes:162(248)(88)(33)(59)(217)(253)
Income tax expense     (1)(2)
Income (loss) before gain (loss) on sale of properties:162(248)(88)(33)(59)(218)(254)
Other undisclosed net income202232    
Net income (loss):182(226)(56)(33)(59)(218)(254)
Net income (loss) attributable to noncontrolling interest(0)     59
Net income (loss) available to common stockholders, diluted:182(226)(56)(33)(59)(218)(195)

Comprehensive Income ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Net income (loss):182(226)(56)(33)(59)(218)(254)
Other comprehensive income1    025
Comprehensive income (loss):183(226)(56)(33)(59)(218)(229)
Comprehensive income (loss), net of tax, attributable to noncontrolling interest(0)     59
Comprehensive income (loss), net of tax, attributable to parent:183(226)(56)(33)(59)(218)(170)

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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