Genco Shipping & Trading Limited (GNK) financial statements (2021 and earlier)

Company profile

Business Address 299 PARK AVENUE
NEW YORK, NY 10171
State of Incorp.
Fiscal Year End December 31
SIC 4412 - Deep Sea Foreign Transportation of Freight (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments14415619717413312183
Cash and cash equivalents14415619717413312183
Restricted cash and investments3565782010
Receivables15162316111317
Inventory, net of allowances, customer advances and progress billings222730 101011
Inventory222730 101011
Prepaid expense3331345
Capitalized contract cost22 
Assets held-for-sale, not part of disposal group22106 5 
Other current assets2122345
Other undisclosed current assets22416   
Total current assets:247223270217173173130
Noncurrent Assets
Operating lease, right-of-use asset7 
Property, plant and equipment6621111
Long-term investments and receivables     1226
Long-term investments     1226
Deposits noncurrent assets   1111
Restricted cash and investments0002327020
Deferred costs     1310
Other undisclosed noncurrent assets9721,2991,3541,2791,3671,5241,565
Total noncurrent assets:9861,3061,3571,3041,3961,5521,623
TOTAL ASSETS:1,2331,5291,6271,5211,5691,7241,753
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:23502923232728
Accounts payable122615107810
Other undisclosed accounts payable and accrued liabilities11241413161918
Deferred revenue8 
Debt82706624558834
Deferred revenue and credits5111
Contract with customer, liability7 
Other undisclosed current liabilities 26    
Total current liabilities:114128102522961764
Noncurrent Liabilities
Long-term debt and lease obligation367413469491508 396
Long-term debt, excluding current maturities359413469491508 396
Operating lease, liability8 
Liabilities, other than long-term debt7 33210
Deferred revenue and credits33210
Deferred revenue7 
Other undisclosed noncurrent liabilities 10     
Total noncurrent liabilities:3744234724935101396
Total liabilities:488550574546539618460
Stockholders' equity
Stockholders' equity attributable to parent7459781,0539751,0301,1061,022
Preferred stock    121  
Common stock0000011
Additional paid in capital1,7131,7211,7401,6281,5041,4821,251
Accumulated other comprehensive loss     (0)(25)
Accumulated deficit(969)(743)(687)(654)(595)(377)(204)
Stockholders' equity attributable to noncontrolling interest      270
Total stockholders' equity:7459781,0539751,0301,1061,293
TOTAL LIABILITIES AND EQUITY:1,2331,5291,6271,5211,5691,7241,753

Income statement (P&L) ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Revenues356389368210136154 
Revenue, net210136154 
Cost of revenue(536)(366)(291)(203)(211)(306) 
Cost of goods and services sold(87)(96)(97)(98)(114)(122) 
Gross profit:(180)24777(76)(152) 
Operating expenses(23)(52)(76)(36)(111)(41) 
Operating income (loss):(203)(28)1(30)(186)(193) 
Nonoperating expense(22)(28)(33)(29)(30)(59) 
Interest and debt expense(22)(32)(5)(30)(28)(20) 
Other undisclosed income from continuing operations before equity method investments, income taxes    2819 
Loss from continuing operations before equity method investments, income taxes:(248)(88)(37)(89)(217)(253) 
Other undisclosed income from continuing operations before income taxes  530   
Loss from continuing operations before income taxes:(248)(88)(33)(59)(217)(253) 
Income tax expense    (1)(2) 
Loss before gain (loss) on sale of properties:(248)(88)(33)(59)(218)(254) 
Other undisclosed net income2232     
Net loss:(226)(56)(33)(59)(218)(254) 
Net income attributable to noncontrolling interest     59 
Net loss available to common stockholders, diluted:(226)(56)(33)(59)(218)(195) 

Comprehensive Income ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Net loss:(226)(56)(33)(59)(218)(254) 
Other comprehensive income    025 
Comprehensive loss:(226)(56)(33)(59)(218)(229) 
Comprehensive income, net of tax, attributable to noncontrolling interest     59 
Comprehensive loss, net of tax, attributable to parent:(226)(56)(33)(59)(218)(170) 

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.

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