International Seaways, Inc. (INSW) financial statements (2022 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)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments9819990586092
Cash and cash equivalents9819990586092
Receivables11348881006372
Inventory, net of allowances, customer advances and progress billings244331
Inventory244331
Derivative instruments and hedges, assets   0  
Other undisclosed current assets1266665
Total current assets:224257187168132171
Noncurrent Assets
Operating lease, right-of-use asset232234
Property, plant and equipment1,8031,1081,2931,3311,1051,100
Long-term investments and receivables180142153268379359
Long-term investments180142153268379359
Intangible assets, net (including goodwill)1     
Intangible assets, net (excluding goodwill)1     
Derivative instruments and hedges12 1  
Restricted cash and investments116615911 
Other noncurrent assets833532
Other undisclosed noncurrent assets1053623173631
Total noncurrent assets:2,1221,3301,5661,6811,5331,492
TOTAL ASSETS:2,3471,5871,7541,8491,6641,663
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities23161591217
Accounts payable235103
Accrued liabilities1474324
Employee-related liabilities766566
Taxes payable0     
Interest and dividends payable101134
Deferred revenue030
Debt179618352246
Derivative instruments and hedges, liabilities3441  
Customer advances and deposits017
Other liabilities412322
Other undisclosed current liabilities26231111814
Total current liabilities:235109114754745
Noncurrent Liabilities
Long-term debt and lease obligation939485609759529433
Long-term debt, excluding current maturities926474591759529433
Operating lease, liability131018
Liabilities, other than long-term debt3218434
Other liabilities2151234
Derivative instruments and hedges, liabilities1672  
Total noncurrent liabilities:942506617763532438
Total liabilities:1,176614731839579483
Stockholders' equity
Stockholders' equity attributable to parent1,1709721,0221,0101,0861,180
Common stock1,5911,2811,3131,3091,30730
Additional paid in capital     1,276
Accumulated other comprehensive loss(12)(33)(21)(30)(40)(52)
Accumulated deficit(409)(276)(270)(269)(181)(74)
Stockholders' equity attributable to noncontrolling interest1     
Total stockholders' equity:1,1709721,0221,0101,0861,180
TOTAL LIABILITIES AND EQUITY:2,3471,5871,7541,8491,6641,663

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

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Revenues273422366270290398
Revenue, net93113152
Cost of revenue(359)(252)(253)(248)(247)(281)
Gross profit:(86)1691132343117
Operating expenses(26)(129)(58)(77)(151)(111)
Operating income (loss):(112)4055(55)(108)6
Nonoperating income (expense)(6)(13)(1)(4)1(1)
Investment income, nonoperating   11 
Other nonoperating expense(6)(13)(1)(0) (1)
Interest and debt expense(37)(37)(66)(60)(40)(39)
Loss from continuing operations before equity method investments, income taxes:(155)(10)(12)(118)(148)(35)
Income from equity method investments22411294917
Other undisclosed loss from continuing operations before income taxes    (7) 
Loss from continuing operations before income taxes:(133)(6)(1)(89)(106)(18)
Income tax expense (benefit)(2)(0)(0)0(0)(0)
Net loss:(135)(6)(1)(89)(106)(18)
Net income attributable to noncontrolling interest1     
Other undisclosed net loss attributable to parent     (0)
Net loss available to common stockholders, diluted:(133)(6)(1)(89)(106)(18)

Comprehensive Income ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Net loss:(135)(6)(1)(89)(106)(18)
Other comprehensive income (loss)20(12)9101212
Comprehensive income (loss):(114)(18)9(78)(94)(6)
Comprehensive income, net of tax, attributable to noncontrolling interest1     
Other undisclosed comprehensive loss, net of tax, attributable to parent     (0)
Comprehensive income (loss), net of tax, attributable to parent:(113)(18)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.

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