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)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments19990586092
Cash and cash equivalents19990586092
Receivables48881006372
Inventory, net of allowances, customer advances and progress billings44331
Inventory44331
Derivative instruments and hedges, assets  0  
Other undisclosed current assets66665
Total current assets:257187168132171
Noncurrent Assets
Operating lease, right-of-use asset2234
Property, plant and equipment1,1081,2931,3311,1051,100
Long-term investments and receivables142153268379359
Long-term investments142153268379359
Derivative instruments and hedges2 1  
Restricted cash and investments16615911 
Other noncurrent assets33532
Other undisclosed noncurrent assets3623173631
Total noncurrent assets:1,3301,5661,6811,5331,492
TOTAL ASSETS:1,5871,7541,8491,6641,663
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities161591217
Accounts payable35103
Accrued liabilities74324
Employee-related liabilities66566
Interest and dividends payable01134
Deferred revenue30
Debt618352246
Derivative instruments and hedges, liabilities441  
Customer advances and deposits017
Other liabilities12322
Other undisclosed current liabilities231111814
Total current liabilities:109114754745
Noncurrent Liabilities
Long-term debt and lease obligation485609759529433
Long-term debt, excluding current maturities474591759529433
Operating lease, liability1018
Liabilities, other than long-term debt218434
Other liabilities151234
Derivative instruments and hedges, liabilities672  
Total noncurrent liabilities:506617763532438
Total liabilities:614731839579483
Stockholders' equity
Stockholders' equity attributable to parent9721,0221,0101,0861,180
Common stock1,2811,3131,3091,30730
Additional paid in capital    1,276
Accumulated other comprehensive loss(33)(21)(30)(40)(52)
Accumulated deficit(276)(270)(269)(181)(74)
Total stockholders' equity:9721,0221,0101,0861,180
TOTAL LIABILITIES AND EQUITY:1,5871,7541,8491,6641,663

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

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Revenues422366270290398
Revenue, net93113152
Cost of revenue(252)(253)(248)(247)(281)
Gross profit:1691132343117
Operating expenses(129)(58)(77)(151)(111)
Operating income (loss):4055(55)(108)6
Nonoperating income (expense)(13)(1)(4)1(1)
Investment income, nonoperating  11 
Other nonoperating expense(13)(1)(0) (1)
Interest and debt expense(37)(66)(60)(40)(39)
Loss from continuing operations before equity method investments, income taxes:(10)(12)(118)(148)(35)
Income from equity method investments411294917
Other undisclosed loss from continuing operations before income taxes   (7) 
Loss from continuing operations before income taxes:(6)(1)(89)(106)(18)
Income tax expense (benefit)(0)(0)0(0)(0)
Net loss:(6)(1)(89)(106)(18)
Other undisclosed net loss attributable to parent    (0)
Net loss available to common stockholders, diluted:(6)(1)(89)(106)(18)

Comprehensive Income ($ in millions)

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