International Seaways, Inc. (INSW) Financial Statements (2025 and earlier)

Company Profile

Business Address 600 THIRD AVENUE
NEW YORK, NY 10016
State of Incorp.
Fiscal Year End December 31
Industry (SIC) 44 - Water Transportation (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

3/31/2025
MRQ
12/31/2024
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments157,506186,760323,74497,883199,39089,671
Cash and cash equivalent157,506126,760243,74497,883199,39089,671
Short-term investments  60,00080,000   
Receivables199,292261,468302,358112,74747,84187,783
Inventory, net of allowances, customer advances and progress billings1,8751,3295312,1103,6013,896
Inventory1,8751,3295312,1103,6013,896
Derivative instruments and hedges, assets2,0805,0816,987   
Other undisclosed current assets15,57010,3428,99511,7596,0025,994
Total current assets:376,323464,980642,615224,499256,834187,344
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization   44,391   
Operating lease, right-of-use asset21,22920,3918,47123,16821,58833,718
Property, plant and equipment2,050,2111,914,4261,680,0101,802,8501,108,2141,292,516
Long-term investments and receivables35,37231,74836,414180,331141,924153,292
Long-term investments35,37231,74836,414180,331141,924153,292
Intangible assets, net (including goodwill)    842  
Intangible assets, net (excluding goodwill)    842  
Derivative instruments and hedges8011,1534,6621,2962,129 
Restricted cash and investments    1,05016,28760,572
Other noncurrent assets25,2326,5719,2207,7003,2292,934
Other undisclosed noncurrent assets127,22982,550189,551105,04436,33423,125
Total noncurrent assets:2,260,0742,056,8391,972,7192,122,2811,329,7051,566,157
TOTAL ASSETS:2,636,3972,521,8192,615,3342,346,7801,586,5391,753,501
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities 27,21723,80724,71522,99516,01214,856
Interest and dividends payable7,723543370594
Taxes payable53  
Employee-related liabilities9,9096,9196,2935,585
Accounts payable 5,8286,5701,8261,6072,6094,988
Accrued liabilities 21,38917,2375,25713,8736,7403,689
Deferred revenue 7,8346,2442,9623533,060272
Debt50,054127,447204,724178,71561,48383,308
Derivative instruments and hedges, liabilities    2,5394,1213,614
Other liabilities 2,9365,4499413,7861,2121,725
Other undisclosed current liabilities42,89432,62724,04726,22323,00810,701
Total current liabilities:130,935195,574257,389234,611108,896114,476
Noncurrent Liabilities
Long-term debt and lease obligation638,353595,229860,578938,792484,585608,698
Long-term debt, excluding current maturities638,353595,229860,578926,270474,332590,745
Liabilities, other than long-term debt11,06114,2599,6153,04521,0168,034
Other liabilities2,3462,6281,8752,28814,8611,489
Operating lease, liability8,71511,6317,74012,52210,25317,953
Derivative instruments and hedges, liabilities    7576,1556,545
Total noncurrent liabilities:649,414609,488870,193941,837505,601616,732
Total liabilities:780,349805,0621,127,5821,176,448614,497731,208
Equity
Equity, attributable to parent1,856,0481,716,7571,487,7521,169,748972,0421,022,293
Common stock1,504,7671,490,9861,502,2351,591,4461,280,5011,313,178
Accumulated other comprehensive income (loss)(7,861)(1,063)6,964(12,360)(32,613)(20,570)
Retained earnings (accumulated deficit)359,142226,834(21,447)(409,338)(275,846)(270,315)
Equity, attributable to noncontrolling interest    584  
Total equity:1,856,0481,716,7571,487,7521,170,332972,0421,022,293
TOTAL LIABILITIES AND EQUITY:2,636,3972,521,8192,615,3342,346,7801,586,5391,753,501

Income Statement (P&L) ($ in thousands)

3/31/2025
TTM
12/31/2024
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
Revenues951,6131,071,775864,665272,546421,648366,184
Cost of revenue(462,949)(444,237)(393,537)(358,642)(252,344)(253,405)
Gross profit:488,664627,538471,128(86,096)169,304112,779
Operating expenses(33,439)(12,107)(28,474)(26,041)(129,424)(57,611)
Operating income (loss):455,225615,431442,654(112,137)39,88055,168
Nonoperating income (expense)
(Other Nonoperating Income (Expense))
10,11810,6522,332(5,947)(12,817)(943)
Interest and debt expense(49,703)(65,759)(57,721)(36,796)(36,712)(66,267)
Income (loss) from continuing operations before equity method investments, income taxes:415,640560,324387,265(154,880)(9,649)(12,042)
Income from equity method investments   71421,8384,11911,213
Income (loss) from continuing operations before income taxes:415,640560,324387,979(133,042)(5,530)(829)
Income tax expense (benefit)1,084(3,878)(88)(1,618)(1)(1)
Income (loss) from continuing operations:416,724556,446387,891(134,660)(5,531)(830)
Loss before gain (loss) on sale of properties:(134,660)(5,531)(830)
Net income (loss):416,724556,446387,891(134,660)(5,531)(830)
Net income attributable to noncontrolling interest    1,168  
Net income (loss) attributable to parent:416,724556,446387,891(133,492)(5,531)(830)
Other undisclosed net loss available to common stockholders, basic(178)(403)    
Net income (loss) available to common stockholders, diluted:416,546556,043387,891(133,492)(5,531)(830)

Comprehensive Income ($ in thousands)

3/31/2025
TTM
12/31/2024
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
Net income (loss):416,724556,446387,891(134,660)(5,531)(830)
Other comprehensive income (loss)(6,798)(8,027)19,32420,253(12,043)9,359
Comprehensive income (loss):409,926548,419407,215(114,407)(17,574)8,529
Comprehensive income, net of tax, attributable to noncontrolling interest    1,168  
Comprehensive income (loss), net of tax, attributable to parent:409,926548,419407,215(113,239)(17,574)8,529

Statements Sources

The financial statements are based on the Company's filings with 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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