International Seaways, Inc. (INSW) financial statements (2021 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)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments90586092
Cash and cash equivalents90586092
Receivables881006372
Inventory, net of allowances, customer advances and progress billings4331
Inventory4331
Derivative instruments and hedges, assets 0  
Other undisclosed current assets6665
Total current assets:187168132171
Noncurrent Assets
Operating lease, right-of-use asset34
Property, plant and equipment1,2931,3311,1051,100
Long-term investments and receivables153268379359
Long-term investments153268379359
Derivative instruments and hedges 1  
Restricted cash and investments615911 
Other noncurrent assets3532
Other undisclosed noncurrent assets23173631
Total noncurrent assets:1,5661,6811,5331,492
TOTAL ASSETS:1,7541,8491,6641,663
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities1591217
Accounts payable5103
Accrued liabilities4324
Employee-related liabilities6566
Interest and dividends payable1134
Deferred revenue0
Debt8352246
Derivative instruments and hedges, liabilities41  
Customer advances and deposits017
Other liabilities2322
Other undisclosed current liabilities1111814
Total current liabilities:114754745
Noncurrent Liabilities
Long-term debt and lease obligation609759529433
Long-term debt, excluding current maturities591759529433
Operating lease, liability18
Liabilities, other than long-term debt8434
Other liabilities1234
Derivative instruments and hedges, liabilities72  
Total noncurrent liabilities:617763532438
Total liabilities:731839579483
Stockholders' equity
Stockholders' equity attributable to parent1,0221,0101,0861,180
Common stock1,3131,3091,30730
Additional paid in capital   1,276
Accumulated other comprehensive loss(21)(30)(40)(52)
Accumulated deficit(270)(269)(181)(74)
Total stockholders' equity:1,0221,0101,0861,180
TOTAL LIABILITIES AND EQUITY:1,7541,8491,6641,663

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

12/31/2019
12/31/2018
12/31/2017
12/31/2016
Revenues366270290398
Revenue, net93113152
Cost of revenue(253)(248)(247)(281)
Gross profit:1132343117
Operating expenses(58)(77)(151)(111)
Operating income (loss):55(55)(108)6
Nonoperating income (expense)(1)(4)1(1)
Investment income, nonoperating 11 
Other nonoperating expense(1)(0) (1)
Interest and debt expense(66)(60)(40)(39)
Loss from continuing operations before equity method investments, income taxes:(12)(118)(148)(35)
Income from equity method investments11294917
Other undisclosed loss from continuing operations before income taxes  (7) 
Loss from continuing operations before income taxes:(1)(89)(106)(18)
Income tax expense (benefit)(0)0(0)(0)
Net loss:(1)(89)(106)(18)
Other undisclosed net loss attributable to parent   (0)
Net loss available to common stockholders, diluted:(1)(89)(106)(18)

Comprehensive Income ($ in millions)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
Net loss:(1)(89)(106)(18)
Other comprehensive income9101212
Comprehensive income (loss):9(78)(94)(6)
Other undisclosed comprehensive loss, net of tax, attributable to parent   (0)
Comprehensive income (loss), net of tax, attributable to parent: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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