Pangaea Logistics Solutions Ltd. (PANL) financial statements (2021 and earlier)

Company profile

Business Address 375 PHILLIPS BOULEVARD
EWING, NJ 08618
State of Incorp. PA
Fiscal Year End December 31
SIC 367 - Electronic Components And Accessories (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
12/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments730 515420328395
Cash and cash equivalents630 21113313998
Short-term investments100 304287189298
Receivables82 43522525
Inventory, net of allowances, customer advances and progress billings92 70361713
Inventory92 70361713
Deferred tax assets  912
Other current assets21 61062
Total current assets:925 635519385448
Noncurrent Assets
Operating lease, right-of-use asset9 
Property, plant and equipment102 70562722
Long-term investments and receivables5  15152
Long-term investments5  15152
Intangible assets, net (including goodwill)86 12614716872
Goodwill16 161616 
Intangible assets, net (excluding goodwill)70 11113215272
Deferred income tax assets38 
Other noncurrent assets103 65100
Deferred tax assets, net24271615
Other undisclosed noncurrent assets2 131516 
Total noncurrent assets:345 299261242112
TOTAL ASSETS:1,269 933780628559
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities55 47492824
Accounts payable14 111487
Accrued liabilities41 36352017
Deferred revenue105 
Deferred revenue and credits151010
Other liabilities5 6020
Other undisclosed current liabilities  81   
Total current liabilities:165 133644035
Noncurrent Liabilities
Liabilities, other than long-term debt192 68575958
Deferred revenue and credits243136
Deferred revenue57 
Liability, pension and other postretirement and postemployment benefits79 44332823
Other liabilities56 24   
Other undisclosed noncurrent liabilities  42   
Total noncurrent liabilities:192 110575958
Total liabilities:357 2431219993
Stockholders' equity
Stockholders' equity attributable to parent913 691659528467
Preferred stock0 0000
Common stock0 0000
Treasury stock, value(41) (41)(40)(40)(40)
Additional paid in capital636 617611604590
Accumulated other comprehensive loss(36) (16)(11)(11)(10)
Retained earnings (accumulated deficit)354 13099(26)(74)
Total stockholders' equity:913 691659528467
TOTAL LIABILITIES AND EQUITY:1,269 933780628559

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

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Revenues429 247336199191
Revenue, net336199191
Cost of revenue
(Cost of Goods and Services Sold)
(85) (54)(55)(26)(33)
Gross profit:343 194281173158
Operating expenses(186) (137)(135)(104)(159)
Other undisclosed operating income     33
Operating income:158 571466832
Nonoperating income6 8301
Investment income, nonoperating5 8321
Other nonoperating income (expense)1 (0)(0)(2) 
Interest and debt expense     (0)
Income from continuing operations before income taxes:164 641506933
Income tax expense(30) (5)(46)(21)(18)
Net income attributable to parent:133 591044815
Other undisclosed net loss available to common stockholders, basic(1) (1)(2)(1) 
Net income available to common stockholders, diluted:132 581024715

Comprehensive Income ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Net income:133 591044815
Other comprehensive loss(19) (5)(1)(1)(5)
Comprehensive income, net of tax, attributable to parent:114 54103479

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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