Gulf Island Fabrication, Inc. (GIFI) financial statements (2022 and earlier)
Company profile
| Business Address |
16225 PARK TEN PLACE, SUITE 280 HOUSTON, TX 77084 |
| State of Incorp. | LA |
| Fiscal Year End | December 31 |
| SIC | 344 - Fabricated Structural Metal Products (benchmarking) |
| More info | Complete financial analysis Financial benchmarking |
Balance sheet (Statement of financial position) ($ in thousands)
| 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 investments, including: | 52,886 | 51,157 | 69,600 | 79,177 | 8,983 | 51,167 | 34,828 | ||
| Cash and cash equivalents | 52,886 | 43,159 | 49,703 | 70,457 | 8,983 | 51,167 | 34,828 | ||
| Short-term investments | 7,998 | 19,918 | 8,720 | ||||||
| Other undisclosed cash, cash equivalents, and short-term investments | (21) | ||||||||
| Restricted cash and investments | 1,297 | ||||||||
| Receivables | 15,986 | 15,393 | 26,095 | 22,505 | 28,466 | 20,169 | 47,008 | ||
| Inventory, net of allowances, customer advances and progress billings | 1,779 | 2,262 | 2,676 | 6,088 | 4,933 | 11,973 | 12,936 | ||
| Inventory | 1,779 | 2,262 | 2,676 | 6,088 | 4,933 | 11,973 | 12,936 | ||
| Prepaid expense | 6,971 | 2,815 | 3,948 | 3,268 | 3,833 | 3,222 | 3,418 | ||
| Contract with customer, asset | 4,759 | 67,521 | 52,128 | 29,982 | ✕ | ✕ | ✕ | ||
| Disposal group, including discontinued operation | 8,214 | 9,006 | |||||||
| Assets held-for-sale, not part of disposal group | 1,800 | 18,935 | 104,576 | 4,805 | |||||
| Costs in excess of billings | ✕ | ✕ | ✕ | ✕ | 28,373 | 26,829 | 12,822 | ||
| Other undisclosed current assets | 21 | 52 | |||||||
| Total current assets: | 85,478 | 147,362 | 163,474 | 159,955 | 179,164 | 113,360 | 115,869 | ||
| Noncurrent Assets | |||||||||
| Property, plant and equipment | 32,866 | 67,458 | 70,484 | 79,930 | 88,899 | 206,222 | 200,384 | ||
| Intangible assets, net (including goodwill) | 3,201 | ||||||||
| Goodwill | 2,217 | ||||||||
| Intangible assets, net (excluding goodwill) | 984 | ||||||||
| Restricted cash and investments | 406 | ||||||||
| Other noncurrent assets | 13,322 | 16,523 | 18,819 | 18,405 | 2,777 | 2,826 | 670 | ||
| Total noncurrent assets: | 49,795 | 83,981 | 89,303 | 98,335 | 91,676 | 209,048 | 201,054 | ||
| TOTAL ASSETS: | 135,273 | 231,343 | 252,777 | 258,290 | 270,840 | 322,408 | 316,923 | ||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 23,306 | 77,784 | 71,573 | 39,256 | 31,235 | 19,103 | 21,325 | ||
| Accounts payable | 9,280 | 70,114 | 61,542 | 28,969 | 18,375 | 9,021 | 13,604 | ||
| Accrued liabilities | 14,026 | 7,670 | 10,031 | 10,287 | 12,741 | 10,032 | 777 | ||
| Employee-related liabilities | 6,831 | ||||||||
| Taxes payable | 119 | 50 | 113 | ||||||
| Deferred revenue | 6,648 | 15,129 | 26,271 | ✕ | ✕ | ✕ | ✕ | ||
| Debt | 5,499 | ||||||||
| Provision for loss on contracts | 7,618 | 387 | 9,495 | ||||||
| Deferred revenue and credits | ✕ | ✕ | ✕ | ✕ | 4,676 | 11,881 | |||
| Billings in excess of cost | ✕ | ✕ | ✕ | ✕ | 5,136 | 3,977 | 7,081 | ||
| Contract with customer, liability | ✕ | ✕ | ✕ | 16,845 | ✕ | ✕ | ✕ | ||
| Total current liabilities: | 29,954 | 98,412 | 97,844 | 56,101 | 48,665 | 35,348 | 37,901 | ||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 4,501 | ||||||||
| Long-term debt, excluding current maturities | 4,501 | ||||||||
| Liabilities, other than long-term debt | 1,411 | 2,068 | 2,248 | 1,089 | 2,682 | 794 | 21,825 | ||
| Deferred revenue and credits | ✕ | ✕ | ✕ | ✕ | 769 | 489 | |||
| Deferred tax liabilities, net | ✕ | ✕ | ✕ | 21,825 | |||||
| Other liabilities | 1,411 | 2,068 | 2,248 | 1,089 | 1,913 | 305 | |||
| Other undisclosed noncurrent liabilities | 23,234 | ||||||||
| Total noncurrent liabilities: | 1,411 | 6,569 | 2,248 | 1,089 | 2,682 | 24,028 | 21,825 | ||
| Total liabilities: | 31,365 | 104,981 | 100,092 | 57,190 | 51,347 | 59,376 | 59,726 | ||
| Stockholders' equity | |||||||||
| Stockholders' equity attributable to parent | 103,908 | 126,362 | 152,685 | 201,100 | 219,493 | 263,032 | 257,197 | ||
| Common stock | 11,384 | 11,223 | 11,119 | 11,021 | 10,823 | 10,641 | 10,352 | ||
| Additional paid in capital | 105,511 | 104,072 | 103,124 | 102,243 | 100,456 | 98,813 | 96,194 | ||
| Retained earnings (accumulated deficit) | (12,987) | 11,067 | 38,442 | 87,836 | 108,214 | 153,578 | 150,651 | ||
| Total stockholders' equity: | 103,908 | 126,362 | 152,685 | 201,100 | 219,493 | 263,032 | 257,197 | ||
| TOTAL LIABILITIES AND EQUITY: | 135,273 | 231,343 | 252,777 | 258,290 | 270,840 | 322,408 | 316,923 | ||
Income statement (P&L) ($ in thousands)
| 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 93,452 | 250,959 | 303,308 | 221,247 | 171,022 | 286,326 | 306,120 | |
| Cost of revenue (Cost of Goods and Services Sold) | (91,788) | (268,710) | (320,307) | (228,443) | (213,947) | (261,473) | (321,276) | |
| Gross profit: | 1,664 | (17,751) | (16,999) | (7,196) | (42,925) | 24,853 | (15,156) | |
| Operating expenses | (11,848) | (13,858) | (15,628) | (19,319) | (17,800) | (19,670) | (16,256) | |
| Other operating income (expense), net | (3,300) | 8,580 | 134 | |||||
| Other undisclosed operating income (loss) | (4,130) | (17,528) | 6,850 | (7,672) | (7,202) | |||
| Operating income (loss): | (13,484) | (27,159) | (50,021) | (19,665) | (68,397) | 5,183 | (38,614) | |
| Nonoperating income (expense) | (562) | 373 | (119) | |||||
| Investment income, nonoperating | 24 | 26 | ||||||
| Other nonoperating income (expense) | (213) | 681 | 20 | |||||
| Interest and debt expense | 9,061 | (142) | (349) | (332) | (165) | |||
| Other undisclosed income (loss) from continuing operations before equity method investments, income taxes | (268) | 531 | 349 | 332 | 165 | |||
| Income (loss) from continuing operations before equity method investments, income taxes: | (4,423) | (27,427) | (49,490) | (19,807) | (68,959) | 5,556 | (38,733) | |
| Other undisclosed loss from continuing operations before income taxes | (397) | |||||||
| Income (loss) from continuing operations before income taxes: | (4,820) | (27,427) | (49,490) | (19,807) | (68,959) | 5,556 | (38,733) | |
| Income tax expense (benefit) | 24 | 52 | 96 | (571) | 24,193 | (2,041) | 13,369 | |
| Income (loss) from continuing operations: | (4,796) | (27,375) | (49,394) | (20,378) | (44,766) | 3,515 | (25,364) | |
| Loss from discontinued operations | (17,372) | |||||||
| Net income (loss) attributable to parent: | (22,168) | (27,375) | (49,394) | (20,378) | (44,766) | 3,515 | (25,364) | |
| Other undisclosed net loss available to common stockholders, basic | (3) | (30) | (84) | |||||
| Net income (loss) available to common stockholders, diluted: | (22,168) | (27,375) | (49,394) | (20,378) | (44,769) | 3,485 | (25,448) | |
Comprehensive Income ($ in thousands)
| 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | (22,168) | (27,375) | (49,394) | (20,378) | (44,766) | 3,515 | (25,364) | |
| Comprehensive income (loss), net of tax, attributable to parent: | (22,168) | (27,375) | (49,394) | (20,378) | (44,766) | 3,515 | (25,364) | |
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.