International Seaways, Inc. (INSW) financial statements (2021 and earlier)
Company profile
| Business Address |
600 THIRD AVENUE NEW YORK, NY 10016 |
| State of Incorp. | |
| Fiscal Year End | December 31 |
| SIC | 44 - Water Transportation (benchmarking) |
| More info | Complete financial analysis Financial benchmarking |
Balance sheet (Statement of financial position) ($ in millions)
| 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | |||
|---|---|---|---|---|---|---|
| ASSETS | ||||||
| Current Assets | ||||||
| Cash, cash equivalents, and short-term investments | 90 | 58 | 60 | 92 | ||
| Cash and cash equivalents | 90 | 58 | 60 | 92 | ||
| Receivables | 88 | 100 | 63 | 72 | ||
| Inventory, net of allowances, customer advances and progress billings | 4 | 3 | 3 | 1 | ||
| Inventory | 4 | 3 | 3 | 1 | ||
| Derivative instruments and hedges, assets | 0 | |||||
| Other undisclosed current assets | 6 | 6 | 6 | 5 | ||
| Total current assets: | 187 | 168 | 132 | 171 | ||
| Noncurrent Assets | ||||||
| Operating lease, right-of-use asset | 34 | ✕ | ✕ | ✕ | ||
| Property, plant and equipment | 1,293 | 1,331 | 1,105 | 1,100 | ||
| Long-term investments and receivables | 153 | 268 | 379 | 359 | ||
| Long-term investments | 153 | 268 | 379 | 359 | ||
| Derivative instruments and hedges | 1 | |||||
| Restricted cash and investments | 61 | 59 | 11 | |||
| Other noncurrent assets | 3 | 5 | 3 | 2 | ||
| Other undisclosed noncurrent assets | 23 | 17 | 36 | 31 | ||
| Total noncurrent assets: | 1,566 | 1,681 | 1,533 | 1,492 | ||
| TOTAL ASSETS: | 1,754 | 1,849 | 1,664 | 1,663 | ||
| LIABILITIES AND EQUITY | ||||||
| Liabilities | ||||||
| Current Liabilities | ||||||
| Accounts payable and accrued liabilities | 15 | 9 | 12 | 17 | ||
| Accounts payable | 5 | 1 | 0 | 3 | ||
| Accrued liabilities | 4 | 3 | 2 | 4 | ||
| Employee-related liabilities | 6 | 5 | 6 | 6 | ||
| Interest and dividends payable | 1 | 1 | 3 | 4 | ||
| Deferred revenue | 0 | ✕ | ✕ | ✕ | ||
| Debt | 83 | 52 | 24 | 6 | ||
| Derivative instruments and hedges, liabilities | 4 | 1 | ||||
| Customer advances and deposits | ✕ | 0 | 1 | 7 | ||
| Other liabilities | 2 | 3 | 2 | 2 | ||
| Other undisclosed current liabilities | 11 | 11 | 8 | 14 | ||
| Total current liabilities: | 114 | 75 | 47 | 45 | ||
| Noncurrent Liabilities | ||||||
| Long-term debt and lease obligation | 609 | 759 | 529 | 433 | ||
| Long-term debt, excluding current maturities | 591 | 759 | 529 | 433 | ||
| Operating lease, liability | 18 | ✕ | ✕ | ✕ | ||
| Liabilities, other than long-term debt | 8 | 4 | 3 | 4 | ||
| Other liabilities | 1 | 2 | 3 | 4 | ||
| Derivative instruments and hedges, liabilities | 7 | 2 | ||||
| Total noncurrent liabilities: | 617 | 763 | 532 | 438 | ||
| Total liabilities: | 731 | 839 | 579 | 483 | ||
| Stockholders' equity | ||||||
| Stockholders' equity attributable to parent | 1,022 | 1,010 | 1,086 | 1,180 | ||
| Common stock | 1,313 | 1,309 | 1,307 | 30 | ||
| Additional paid in capital | 1,276 | |||||
| Accumulated other comprehensive loss | (21) | (30) | (40) | (52) | ||
| Accumulated deficit | (270) | (269) | (181) | (74) | ||
| Total stockholders' equity: | 1,022 | 1,010 | 1,086 | 1,180 | ||
| TOTAL LIABILITIES AND EQUITY: | 1,754 | 1,849 | 1,664 | 1,663 | ||
Income statement (P&L) ($ in millions)
| 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | ||
|---|---|---|---|---|---|
| Revenues | 366 | 270 | 290 | 398 | |
| Revenue, net | ✕ | 93 | 113 | 152 | |
| Cost of revenue | (253) | (248) | (247) | (281) | |
| Gross profit: | 113 | 23 | 43 | 117 | |
| Operating expenses | (58) | (77) | (151) | (111) | |
| Operating income (loss): | 55 | (55) | (108) | 6 | |
| Nonoperating income (expense) | (1) | (4) | 1 | (1) | |
| Investment income, nonoperating | 1 | 1 | |||
| Other nonoperating expense | (1) | (0) | (1) | ||
| Interest and debt expense | (66) | (60) | (40) | (39) | |
| Loss from continuing operations before equity method investments, income taxes: | (12) | (118) | (148) | (35) | |
| Income from equity method investments | 11 | 29 | 49 | 17 | |
| Other undisclosed loss from continuing operations before income taxes | (7) | ||||
| Loss from continuing operations before income taxes: | (1) | (89) | (106) | (18) | |
| Income tax expense (benefit) | (0) | 0 | (0) | (0) | |
| Net loss: | (1) | (89) | (106) | (18) | |
| Other undisclosed net loss attributable to parent | (0) | ||||
| Net loss available to common stockholders, diluted: | (1) | (89) | (106) | (18) | |
Comprehensive Income ($ in millions)
| 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | ||
|---|---|---|---|---|---|
| Net loss: | (1) | (89) | (106) | (18) | |
| Other comprehensive income | 9 | 10 | 12 | 12 | |
| Comprehensive income (loss): | 9 | (78) | (94) | (6) | |
| Other undisclosed comprehensive loss, net of tax, attributable to parent | (0) | ||||
| Comprehensive income (loss), net of tax, attributable to parent: | 9 | (78) | (94) | (6) | |
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.