Overseas Shipholding Group, Inc. (OSG) Financial Statements (2024 and earlier)

Company Profile

Business Address TWO HARBOUR PLACE
TAMPA, FL 33602
State of Incorp. FL
Fiscal Year End December 31
Industry (SIC) 4412 - Deep Sea Foreign Transportation of Freight (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

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

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments78,73283,17269,69741,50380,417165,994
Cash and cash equivalents78,73283,17269,69741,50380,417165,994
Short-term investments      
Restricted cash and investments  3749605958
Receivables26,94622,28415,32713,47619,12326,765
Prepaid expense 3855431,3101,2929,886 
Other undisclosed current assets2,2832,8952,2931,1782,89514,478
Total current assets:108,346108,93188,67657,509112,380207,295
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization    28,993
Operating lease, right-of-use asset206,797152,027215,817286,469
Property, plant and equipment 697,580720,796790,738644,312597,659632,509
Long-term investments and receivables    3,5993,5853,785
Long-term investments    3,5993,5853,785
Intangible assets, net (including goodwill)18,01722,61727,21731,81736,41741,017
Intangible assets, net (excluding goodwill)18,01722,61727,21731,81736,41741,017
Regulated entity, other noncurrent assets    1,086  
Restricted cash and investments  4473114165217
Other noncurrent assets25,94526,99124,64635,01351,42523,150
Other undisclosed noncurrent assets82,37884,32384,57086,55526,09923,914
Total noncurrent assets:1,030,7171,006,7981,143,0611,117,958715,350724,592
TOTAL ASSETS:1,139,0631,115,7291,231,7371,175,467827,730931,887
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities 19,31624,40925,69317,10517,46318,395
Interest and dividends payable2,5651,7521,8281,0104,129
Taxes payable    151
Employee-related liabilities12,01314,1848,66012,4549,194
Accounts payable 5,9629,4968,7175,9443,3603,825
Accrued liabilities 13,3543351,0406736391,096
Debt27,73326,22542,922125,66823,24028,160
Customer advances and deposits5,217
Other liabilities 6126196741,9841,3853,001
Other undisclosed current liabilities98,266124,883112,33516,78715,8307,758
Total current liabilities:145,927176,136181,624161,54457,91862,531
Noncurrent Liabilities
Long-term debt and lease obligation416,086514,663558,712579,584322,295420,776
Long-term debt, excluding current maturities399,630422,515390,198336,535322,295420,776
Finance lease, liability 16,45618,99821,36023,548
Liabilities, other than long-term debt237,36586,316111,59092,794118,049135,342
Deferred tax liabilities, net73,36583,671
Deferred income tax liabilities70,23363,74480,99272,833
Liability for uncertainty in income taxes1751791898642203,205
Other liabilities16,99722,39330,40919,09744,46448,466
Operating lease, liability149,96073,150147,154219,501
Total noncurrent liabilities:653,451600,979670,302672,378440,344556,118
Total liabilities:799,378777,115851,926833,922498,262618,649
Equity
Equity, attributable to parent339,685338,614379,811341,545329,468313,238
Common stock883872864857848783
Treasury stock, value(29,040)     
Additional paid in capital597,455594,386592,564590,436587,826584,675
Accumulated other comprehensive income (loss)3,4102,943(282)(6,409)(7,192)(6,462)
Accumulated deficit(233,023)(259,587)(213,335)(243,339)(252,014)(265,758)
Total equity:339,685338,614379,811341,545329,468313,238
TOTAL LIABILITIES AND EQUITY:1,139,0631,115,7291,231,7371,175,467827,730931,887

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

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues466,800359,062418,692355,547366,163390,426
Operating leases, income statement, lease revenue213,923
Revenue, net390,426
Sublease income 166,53075,516197,546188,163
Cost of revenue     (311,674)(305,163)
Gross profit:466,800359,062418,692355,54754,48985,263
Operating expenses(403,609)(388,162)(379,251)(325,695)(30,603)(51,187)
Other undisclosed operating income   19,172   
Operating income (loss):63,191(29,100)58,61329,85223,88634,076
Nonoperating income3,3271,9851,6211,4401,9731,221
Investment income, nonoperating     1,9731,221
Other nonoperating income3,3271,9851,6211,440  
Interest and debt expense(32,739)(28,682)(25,779)(27,808)(31,032)(35,978)
Income (loss) from continuing operations before equity method investments, income taxes:33,779(55,797)34,4553,484(5,173)(681)
Income from equity method investments    3,5523,5383,747
Other undisclosed income (loss) from continuing operations before income taxes(321)(8,552)1,7342,175(2,590)(4,525)
Income (loss) from continuing operations before income taxes:33,458(64,349)36,1899,211(4,225)(1,459)
Income tax expense (benefit)(6,894)18,097(6,185)(536)17,71457,627
Income (loss) from continuing operations:26,564(46,252)30,0048,67513,48956,168
Income (loss) before gain (loss) on sale of properties:(46,252)30,0048,67513,48956,168
Net income (loss):26,564(46,252)30,0048,67513,48956,168
Other undisclosed net loss attributable to parent      (190)
Net income (loss) available to common stockholders, diluted:26,564(46,252)30,0048,67513,48955,978

Comprehensive Income ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income (loss):26,564(46,252)30,0048,67513,48956,168
Other comprehensive income4673,2256,1277837531,698
Comprehensive income (loss):27,031(43,027)36,1319,45814,24257,866
Other undisclosed comprehensive loss, net of tax, attributable to parent      (190)
Comprehensive income (loss), net of tax, attributable to parent:27,031(43,027)36,1319,45814,24257,676

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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