International Textile Group Inc (ITXN) Financial Statements (2023 and earlier)

Company Profile

Business Address 804 GREEN VALLEY ROAD
State of Incorp. DE
Fiscal Year End December 31
Industry (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 investments 12,3149,4663,7803,240
Cash and cash equivalents 12,3149,4663,7803,240
Receivables 69,61172,93881,16677,609
Inventory, net of allowances, customer advances and progress billings 99,15793,940102,515109,604
Inventory 99,15793,940102,515109,604
Prepaid expense 2,2243,1763,714
Prepaid expense and other current assets3,675
Assets held-for-sale 29
Other current assets 1,011708881
Other undisclosed current assets  2,9992,2402,040
Total current assets: 184,317183,227194,296196,197
Noncurrent Assets
Property, plant and equipment 106,646104,277105,451140,952
Long-term investments and receivables    18
Long-term investments    18
Intangible assets, net (including goodwill) 3,7924,3084,4164,852
Goodwill 2,7402,7402,7402,740
Intangible assets, net (excluding goodwill) 1,0521,5681,6762,112
Regulated entity, other noncurrent assets 281   
Other noncurrent assets 7,5993,9904,371
Prepaid expense and other noncurrent assets1,623
Other undisclosed noncurrent assets 6,7686,2798,7922,233
Total noncurrent assets: 125,086118,854123,030149,678
TOTAL ASSETS: 309,403302,081317,326345,875
Current Liabilities
Accounts payable and accrued liabilities 69,19278,70876,32290,980
Interest and dividends payable  1,285  
Taxes payable  7,1611,5517,571
Employee-related liabilities  7,7086,6954,748
Accounts payable 45,38940,31847,74846,051
Accrued liabilities 23,80322,23620,32832,610
Debt 39,21156,00157,06992,235
Liability for uncertainty in income taxes  2,2005007,800
Deferred tax liabilities    4,624
Other undisclosed current liabilities 1,010(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 debt 20,10427,99027,08829,531
Accounts payable and accrued liabilities 2,2483,114  
Accrued income taxes3,8231,806
Deferred tax liabilities, net 6953,2872,5842,534
Liability, pension and other postretirement and postemployment benefits  1,000
Other liabilities 17,16120,58920,68125,191
Other undisclosed noncurrent liabilities 229,951(1,000) 145,051
Total noncurrent liabilities: 250,055249,125278,167275,631
Total liabilities: 359,468368,412404,863458,722
Equity, attributable to parent, including: (50,065)(66,331)(87,537)(112,889)
Common stock 175175 175
Treasury stock, value (411)(411) (411)
Additional paid in capital 21,94421,944 33,710
Accumulated other comprehensive loss (7,557)(6,758)(5,628)(7,706)
Accumulated deficit (257,526)(274,591) (567,312)
Other undisclosed equity, attributable to parent 193,310193,310(81,909)428,655
Equity, attributable to noncontrolling interest    42
Total equity: (50,065)(66,331)(87,537)(112,847)
TOTAL LIABILITIES AND EQUITY: 309,403302,081317,326345,875

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

Revenues 610,407599,054624,212619,075
Revenue, net 610,407595,446624,212619,075
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 taxes 6,88110,72912,39818,886
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) before gain (loss) on sale of properties: 17,06589323,291(67,339)
Income (loss) from discontinued operations (66)(6,559)21,771(27,906)
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 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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