Genco Shipping & Trading Limited (GNK) financial statements (2020 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)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments15619717413312183
Cash and cash equivalents15619717413312183
Restricted cash and investments65782010
Receivables162316111317
Inventory, net of allowances, customer advances and progress billings2730 101011
Inventory2730 101011
Prepaid expense331345
Capitalized contract cost2 
Assets held-for-sale, not part of disposal group106 5 
Other current assets122345
Other undisclosed current assets2416   
Total current assets:223270217173173130
Noncurrent Assets
Property, plant and equipment621111
Long-term investments and receivables    1226
Long-term investments    1226
Deposits noncurrent assets  1111
Restricted cash and investments002327020
Deferred costs    1310
Other undisclosed noncurrent assets1,2991,3541,2791,3671,5241,565
Total noncurrent assets:1,3061,3571,3041,3961,5521,623
TOTAL ASSETS:1,5291,6271,5211,5691,7241,753
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:502923232728
Accounts payable2615107810
Other undisclosed accounts payable and accrued liabilities241413161918
Debt706624558834
Deferred revenue and credits5111
Contract with customer, liability7 
Other undisclosed current liabilities26    
Total current liabilities:128102522961764
Noncurrent Liabilities
Long-term debt and lease obligation413469491508 396
Long-term debt, excluding current maturities413469491508 396
Liabilities, other than long-term debt 33210
Deferred revenue and credits33210
Other undisclosed noncurrent liabilities10     
Total noncurrent liabilities:4234724935101396
Total liabilities:550574546539618460
Stockholders' equity
Stockholders' equity attributable to parent9781,0539751,0301,1061,044
Preferred stock   121  
Common stock000011
Additional paid in capital1,7211,7401,6281,5041,4821,251
Accumulated other comprehensive loss    (0)(25)
Accumulated deficit(743)(687)(654)(595)(377)(182)
Stockholders' equity attributable to noncontrolling interest     249
Total stockholders' equity:9781,0539751,0301,1061,293
TOTAL LIABILITIES AND EQUITY:1,5291,6271,5211,5691,7241,753

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

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Revenues389368210136154 
Revenue, net210136154 
Cost of revenue(366)(291)(203)(211)(306) 
Cost of goods and services sold(96)(97)(98)(114)(122) 
Gross profit:24777(76)(152) 
Operating expenses(52)(76)(36)(111)(41) 
Operating income (loss):(28)1(30)(186)(193) 
Nonoperating expense(28)(33)(29)(30)(59) 
Interest and debt expense(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:(88)(37)(89)(217)(253) 
Other undisclosed income from continuing operations before income taxes 530   
Loss from continuing operations before income taxes:(88)(33)(59)(217)(253) 
Income tax expense   (1)(2) 
Loss before gain (loss) on sale of properties:(88)(33)(59)(218)(254) 
Other undisclosed net income32     
Net loss:(56)(33)(59)(218)(254) 
Net income attributable to noncontrolling interest    59 
Net loss available to common stockholders, diluted:(56)(33)(59)(218)(195) 

Comprehensive Income ($ in millions)

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