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 investments | 157,506 | 186,760 | 323,744 | 97,883 | 199,390 | 89,671 | |||
| Cash and cash equivalent | 157,506 | 126,760 | 243,744 | 97,883 | 199,390 | 89,671 | |||
| Short-term investments | 60,000 | 80,000 | |||||||
| Receivables | 199,292 | 261,468 | 302,358 | 112,747 | 47,841 | 87,783 | |||
| Inventory, net of allowances, customer advances and progress billings | 1,875 | 1,329 | 531 | 2,110 | 3,601 | 3,896 | |||
| Inventory | 1,875 | 1,329 | 531 | 2,110 | 3,601 | 3,896 | |||
| Derivative instruments and hedges, assets | 2,080 | 5,081 | 6,987 | ||||||
| Other undisclosed current assets | 15,570 | 10,342 | 8,995 | 11,759 | 6,002 | 5,994 | |||
| Total current assets: | 376,323 | 464,980 | 642,615 | 224,499 | 256,834 | 187,344 | |||
| Noncurrent Assets | |||||||||
| Finance lease, right-of-use asset, after accumulated amortization | 44,391 | ||||||||
| Operating lease, right-of-use asset | 21,229 | 20,391 | 8,471 | 23,168 | 21,588 | 33,718 | |||
| Property, plant and equipment | 2,050,211 | 1,914,426 | 1,680,010 | 1,802,850 | 1,108,214 | 1,292,516 | |||
| Long-term investments and receivables | 35,372 | 31,748 | 36,414 | 180,331 | 141,924 | 153,292 | |||
| Long-term investments | 35,372 | 31,748 | 36,414 | 180,331 | 141,924 | 153,292 | |||
| Intangible assets, net (including goodwill) | 842 | ||||||||
| Intangible assets, net (excluding goodwill) | 842 | ||||||||
| Derivative instruments and hedges | 801 | 1,153 | 4,662 | 1,296 | 2,129 | ||||
| Restricted cash and investments | 1,050 | 16,287 | 60,572 | ||||||
| Other noncurrent assets | 25,232 | 6,571 | 9,220 | 7,700 | 3,229 | 2,934 | |||
| Other undisclosed noncurrent assets | 127,229 | 82,550 | 189,551 | 105,044 | 36,334 | 23,125 | |||
| Total noncurrent assets: | 2,260,074 | 2,056,839 | 1,972,719 | 2,122,281 | 1,329,705 | 1,566,157 | |||
| TOTAL ASSETS: | 2,636,397 | 2,521,819 | 2,615,334 | 2,346,780 | 1,586,539 | 1,753,501 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 27,217 | 23,807 | 24,715 | 22,995 | 16,012 | 14,856 | |||
| Interest and dividends payable | ✕ | ✕ | ✕ | 7,723 | 543 | 370 | 594 | ||
| Taxes payable | ✕ | ✕ | ✕ | ✕ | 53 | ||||
| Employee-related liabilities | ✕ | ✕ | ✕ | 9,909 | 6,919 | 6,293 | 5,585 | ||
| Accounts payable | 5,828 | 6,570 | 1,826 | 1,607 | 2,609 | 4,988 | |||
| Accrued liabilities | 21,389 | 17,237 | 5,257 | 13,873 | 6,740 | 3,689 | |||
| Deferred revenue | 7,834 | 6,244 | 2,962 | 353 | 3,060 | 272 | |||
| Debt | 50,054 | 127,447 | 204,724 | 178,715 | 61,483 | 83,308 | |||
| Derivative instruments and hedges, liabilities | 2,539 | 4,121 | 3,614 | ||||||
| Other liabilities | 2,936 | 5,449 | 941 | 3,786 | 1,212 | 1,725 | |||
| Other undisclosed current liabilities | 42,894 | 32,627 | 24,047 | 26,223 | 23,008 | 10,701 | |||
| Total current liabilities: | 130,935 | 195,574 | 257,389 | 234,611 | 108,896 | 114,476 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 638,353 | 595,229 | 860,578 | 938,792 | 484,585 | 608,698 | |||
| Long-term debt, excluding current maturities | 638,353 | 595,229 | 860,578 | 926,270 | 474,332 | 590,745 | |||
| Liabilities, other than long-term debt | 11,061 | 14,259 | 9,615 | 3,045 | 21,016 | 8,034 | |||
| Other liabilities | 2,346 | 2,628 | 1,875 | 2,288 | 14,861 | 1,489 | |||
| Operating lease, liability | 8,715 | 11,631 | 7,740 | 12,522 | 10,253 | 17,953 | |||
| Derivative instruments and hedges, liabilities | 757 | 6,155 | 6,545 | ||||||
| Total noncurrent liabilities: | 649,414 | 609,488 | 870,193 | 941,837 | 505,601 | 616,732 | |||
| Total liabilities: | 780,349 | 805,062 | 1,127,582 | 1,176,448 | 614,497 | 731,208 | |||
| Equity | |||||||||
| Equity, attributable to parent | 1,856,048 | 1,716,757 | 1,487,752 | 1,169,748 | 972,042 | 1,022,293 | |||
| Common stock | 1,504,767 | 1,490,986 | 1,502,235 | 1,591,446 | 1,280,501 | 1,313,178 | |||
| Accumulated other comprehensive income (loss) | (7,861) | (1,063) | 6,964 | (12,360) | (32,613) | (20,570) | |||
| Retained earnings (accumulated deficit) | 359,142 | 226,834 | (21,447) | (409,338) | (275,846) | (270,315) | |||
| Equity, attributable to noncontrolling interest | 584 | ||||||||
| Total equity: | 1,856,048 | 1,716,757 | 1,487,752 | 1,170,332 | 972,042 | 1,022,293 | |||
| TOTAL LIABILITIES AND EQUITY: | 2,636,397 | 2,521,819 | 2,615,334 | 2,346,780 | 1,586,539 | 1,753,501 | |||
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 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 951,613 | 1,071,775 | 864,665 | 272,546 | 421,648 | 366,184 | ||
| Cost of revenue | (462,949) | (444,237) | (393,537) | (358,642) | (252,344) | (253,405) | ||
| Gross profit: | 488,664 | 627,538 | 471,128 | (86,096) | 169,304 | 112,779 | ||
| Operating expenses | (33,439) | (12,107) | (28,474) | (26,041) | (129,424) | (57,611) | ||
| Operating income (loss): | 455,225 | 615,431 | 442,654 | (112,137) | 39,880 | 55,168 | ||
| Nonoperating income (expense) (Other Nonoperating Income (Expense)) | 10,118 | 10,652 | 2,332 | (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: | 415,640 | 560,324 | 387,265 | (154,880) | (9,649) | (12,042) | ||
| Income from equity method investments | 714 | 21,838 | 4,119 | 11,213 | ||||
| Income (loss) from continuing operations before income taxes: | 415,640 | 560,324 | 387,979 | (133,042) | (5,530) | (829) | ||
| Income tax expense (benefit) | 1,084 | (3,878) | (88) | (1,618) | (1) | (1) | ||
| Income (loss) from continuing operations: | 416,724 | 556,446 | 387,891 | (134,660) | (5,531) | (830) | ||
| Loss before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | ✕ | (134,660) | (5,531) | (830) | |
| Net income (loss): | 416,724 | 556,446 | 387,891 | (134,660) | (5,531) | (830) | ||
| Net income attributable to noncontrolling interest | 1,168 | |||||||
| Net income (loss) attributable to parent: | 416,724 | 556,446 | 387,891 | (133,492) | (5,531) | (830) | ||
| Other undisclosed net loss available to common stockholders, basic | (178) | (403) | ||||||
| Net income (loss) available to common stockholders, diluted: | 416,546 | 556,043 | 387,891 | (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): | 416,724 | 556,446 | 387,891 | (134,660) | (5,531) | (830) | ||
| Other comprehensive income (loss) | (6,798) | (8,027) | 19,324 | 20,253 | (12,043) | 9,359 | ||
| Comprehensive income (loss): | 409,926 | 548,419 | 407,215 | (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: | 409,926 | 548,419 | 407,215 | (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.