International Textile Group Inc (ITXN) financial statements (2022 and earlier)

Company profile

Business Address 804 GREEN VALLEY ROAD
State of Incorp. DE
Fiscal Year End December 31
SIC 22 - Textile Mill Products (benchmarking)
More info Complete financial analysis Financial benchmarking

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

Current Assets
Cash, cash equivalents, and short-term investments12,3149,4663,7803,240
Cash and cash equivalents12,3149,4663,7803,240
Inventory, net of allowances, customer advances and progress billings99,15793,940102,515109,604
Prepaid expense2,2243,1763,714
Prepaid expense and other current assets3,675
Assets held-for-sale 29
Other current assets1,011708881
Other undisclosed current assets 2,9992,2402,040
Total current assets:184,317183,227194,296196,197
Noncurrent Assets
Property, plant and equipment106,646104,277105,451140,952
Long-term investments and receivables   18
Long-term investments   18
Intangible assets, net (including goodwill)3,7924,3084,4164,852
Intangible assets, net (excluding goodwill)1,0521,5681,6762,112
Regulated entity, other noncurrent assets281   
Other noncurrent assets7,5993,9904,371
Prepaid expense and other noncurrent assets1,623
Other undisclosed noncurrent assets6,7686,2798,7922,233
Total noncurrent assets:125,086118,854123,030149,678
TOTAL ASSETS:309,403302,081317,326345,875
Current Liabilities
Accounts payable and accrued liabilities69,19278,70876,32290,980
Accounts payable45,38940,31847,74846,051
Accrued liabilities23,80322,23620,32832,610
Employee-related liabilities 7,7086,6954,748
Taxes payable 7,1611,5517,571
Interest and dividends payable 1,285  
Liability for uncertainty in income taxes 2,2005007,800
Deferred tax liabilities   4,624
Other undisclosed current liabilities1,010(17,622)(7,195)(12,548)
Total current liabilities:109,413119,287126,696183,091
Noncurrent Liabilities
Long-term debt and lease obligation, including: 222,135251,079101,049
Long-term debt, excluding current maturities 222,135251,079246,100
Other undisclosed long-term debt and lease obligation   (145,051)
Liabilities, other than long-term debt20,10427,99027,08829,531
Accounts payable and accrued liabilities2,2483,114  
Accrued income taxes3,8231,806
Deferred tax liabilities, net6953,2872,5842,534
Liability, pension and other postretirement and postemployment benefits 1,000
Other liabilities17,16120,58920,68125,191
Other undisclosed noncurrent liabilities229,951(1,000) 145,051
Total noncurrent liabilities:250,055249,125278,167275,631
Total liabilities:359,468368,412404,863458,722
Stockholders' equity
Stockholders' equity attributable to parent, including:(50,065)(66,331)(87,537)(112,889)
Common stock175175 175
Treasury stock, value(411)(411) (411)
Additional paid in capital21,94421,944 33,710
Accumulated other comprehensive loss(7,557)(6,758)(5,628)(7,706)
Accumulated deficit(257,526)(274,591) (567,312)
Other undisclosed stockholders' equity attributable to parent193,310193,310(81,909)428,655
Stockholders' equity attributable to noncontrolling interest   42
Total stockholders' equity:(50,065)(66,331)(87,537)(112,847)
TOTAL LIABILITIES AND EQUITY:309,403302,081317,326345,875

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

Revenue, net610,407595,446624,212619,075
Cost of revenue
(Cost of Goods and Services Sold)
Other undisclosed gross profit (3,608)  
Gross profit:87,61471,35074,30154,760
Operating expenses(48,690)(50,935)(60,751)(60,107)
Other operating income (expense), net 14,016(9,487)(6,243)
Other undisclosed operating income (loss)3,976(8,611)27,31228,915
Operating income:42,90025,82031,37517,325
Nonoperating expense(24,575)(14,773)(40,354)(52,103)
Investment income, nonoperating 9,421996,000
Other nonoperating income (expense)2,54113,776(9,584)(6,327)
Interest and debt expense(6,881)(10,729)(12,398)(18,886)
Other undisclosed income from continuing operations before equity method investments, income taxes6,88110,72912,39818,886
Income (loss) from continuing operations before equity method investments, income taxes:18,32511,047(8,979)(34,778)
Income (loss) from equity method investments(105)(109)124(595)
Income (loss) from continuing operations before income taxes:18,22010,938(8,855)(35,373)
Income tax expense (benefit)(1,089)(3,486)10,375(4,060)
Income (loss) from continuing operations:17,1317,4521,520(39,433)
Income (loss) from discontinued operations(66)(6,559)21,771(27,906)
Income (loss) before gain (loss) on sale of properties:17,06589323,291(67,339)
Other undisclosed net loss (501)  
Net income (loss):17,06539223,291(67,339)
Net income attributable to noncontrolling interest   2,666
Net income (loss) attributable to parent:17,06539223,291(64,673)
Preferred stock dividends and other adjustments(17,079)(15,792)(34,202) 
Other undisclosed net loss available to common stockholders, basic   (26,778)
Net loss available to common stockholders, diluted:(14)(15,400)(10,911)(91,451)

Comprehensive Income ($ in thousands)

Net income (loss):17,06539223,291(67,339)
Other comprehensive income (loss)(799)(1,130)2,078 
Other undisclosed comprehensive loss   (481)
Comprehensive income (loss):16,266(738)25,369(67,820)
Comprehensive loss, net of tax, attributable to noncontrolling interest   (2,666)
Other undisclosed comprehensive income, net of tax, attributable to parent   5,332
Comprehensive income (loss), net of tax, attributable to parent:16,266(738)25,369(65,154)

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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