Fundamentals

As Reported Financials

Source Document Currency Code (in thousands) 2014 Y 12/31/2015 USD 2015 Y 12/31/2016 USD 2016 Y 12/31/2017 USD 2017 Y 9/30/2018 USD 2018 Q3 YTD 9/30/2018 USD
Source Document Currency Code 2014 Y 12/31/2015 USD 2015 Y 12/31/2016 USD 2016 Y 12/31/2017 USD 2017 Y 9/30/2018 USD 2018 Q3 YTD 9/30/2018 USD

ASSETS

Current Assets

Cash and cash equivalents 389,226 193,978 191,089 165,994 123,977
Restricted cash 53,085 0 8,572 58 59
Voyage receivables, including unbilled 101,513 6,662 23,456 24,209 14,364
Income tax receivable 55,856 1,200 877 1,122 879
Receivable from INSW NA 0 683 NA NA
Other receivables 8,293 3,195 2,696 2,556 1,123
Inventories 7,987 NA NA NA NA
Inventories, prepaid expenses and other current assets 16,303 11,615 12,243 13,356 15,493
Current assets of discontinued operations NA 396,698 NA NA NA
Total Current Assets 632,263 623,931 238,316 207,295 155,895
Vessels and other property, less accumulated depreciation 2,213,217 844,447 684,468 632,509 607,001
Deferred drydock expenditures, net 62,413 58,166 31,172 23,914 26,537
Total Vessels, Other Property and Deferred Drydock 2,275,630 902,613 715,640 656,423 633,538
Restricted cash - non current 70,093 NA NA 217 165
Investments in and advances to affiliated companies 334,863 3,827 3,694 3,785 38
Intangible assets, less accumulated amortization 54,817 50,217 45,617 41,017 37,567
Other assets 63,513 16,608 18,658 23,150 33,690
Non-current assets of discontinued operations NA 1,633,214 NA NA NA
Total Assets 3,431,179 3,230,410 1,030,497 931,887 860,893

LIABILITIES AND EQUITY

Current Liabilities

Accounts payable, accrued expenses and other current liabilities 96,066 60,450 57,222 34,371 38,510
Income taxes payable 906 50 306 NA NA
Current installments of long-term debt 12,314 56,755 0 28,160 376,897
Current liabilities of discontinued operations NA 37,030 NA NA NA
Total Current Liabilities 109,286 154,285 57,528 62,531 415,407
Reserve for uncertain tax positions 34,520 2,520 3,129 3,205 218
Long-term debt 1,656,353 634,286 525,082 420,776 686
Deferred income taxes, net 277,965 208,195 141,457 83,671 64,340
Other liabilities 66,968 52,889 48,969 48,466 46,857
Non-current liabilities of discontinued operations NA 597,747 NA NA NA
Total Liabilities 2,145,092 1,649,922 776,165 618,649 527,508

Equity

Common stock - Class A 3,108 3,646 702 783 846
Common stock - Class B 50 74 NA NA NA
Paid-in additional capital 1,507,334 1,651,511 583,526 584,675 586,877
Accumulated deficit (141,025) (1,282) (321,736) (265,758) (248,321)
Total 1,369,467 1,653,949 262,492 319,700 339,402
Accumulated other comprehensive loss (83,380) (73,461) (8,160) (6,462) (6,017)
Total Equity 1,286,087 1,580,488 254,332 313,238 333,385
Total Liabilities and Equity 3,431,179 3,230,410 1,030,497 931,887 860,893
Data shown on this page is extracted directly from the company’s documents. S&P makes every effort to line up fields, captions and headers that represent the same data over time, despite variations in how the company may report these items in different documents. In certain instances the variation in the company’s presentation over time may be too significant, potentially resulting in repeating and/or disordered items. Despite possible issues with the presentation, S&P, as always, stands by its commitment to the quality of the data.