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 6/30/2018 USD 2018 Q2 YTD 6/30/2018 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 6/30/2018 USD 2018 Q2 YTD 6/30/2018 USD

ASSETS

Current Assets

Cash and cash equivalents 389,226 193,978 191,089 165,994 130,974
Restricted cash 53,085 0 8,572 58 59
Voyage receivables, including unbilled 101,513 6,662 23,456 24,209 18,257
Income tax receivable 55,856 1,200 877 1,122 835
Receivable from INSW NA 0 683 372 34
Other receivables 8,293 3,195 2,696 2,184 1,471
Inventories 7,987 NA NA NA NA
Inventories, prepaid expenses and other current assets 16,303 11,615 12,243 13,356 14,854
Current assets of discontinued operations NA 396,698 NA NA NA
Total Current Assets 632,263 623,931 238,316 207,295 166,484
Vessels and other property, less accumulated depreciation 2,213,217 844,447 684,468 632,509 615,530
Deferred drydock expenditures, net 62,413 58,166 31,172 23,914 24,062
Total Vessels, Other Property and Deferred Drydock 2,275,630 902,613 715,640 656,423 639,592
Restricted cash - non current 70,093 NA NA 217 191
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 38,717
Other assets 63,513 16,608 18,658 23,150 22,539
Non-current assets of discontinued operations NA 1,633,214 NA NA NA
Total Assets 3,431,179 3,230,410 1,030,497 931,887 867,561

LIABILITIES AND EQUITY

Current Liabilities

Accounts payable, accrued expenses and other current liabilities 96,066 60,450 57,222 34,371 34,643
Income taxes payable 906 50 306 NA NA
Current installments of long-term debt 12,314 56,755 0 28,160 0
Current liabilities of discontinued operations NA 37,030 NA NA NA
Total Current Liabilities 109,286 154,285 57,528 62,531 34,643
Reserve for uncertain tax positions 34,520 2,520 3,129 3,205 3,254
Long-term debt 1,656,353 634,286 525,082 420,776 376,660
Deferred income taxes, net 277,965 208,195 141,457 83,671 84,757
Other liabilities 66,968 52,889 48,969 48,466 47,415
Non-current liabilities of discontinued operations NA 597,747 NA NA NA
Total Liabilities 2,145,092 1,649,922 776,165 618,649 546,729

Equity

Common stock - Class A 3,108 3,646 702 783 807
Common stock - Class B 50 74 NA NA NA
Paid-in additional capital 1,507,334 1,651,511 583,526 584,675 586,414
Accumulated deficit (141,025) (1,282) (321,736) (265,758) (260,269)
Total 1,369,467 1,653,949 262,492 319,700 326,952
Accumulated other comprehensive loss (83,380) (73,461) (8,160) (6,462) (6,120)
Total Equity 1,286,087 1,580,488 254,332 313,238 320,832
Total Liabilities and Equity 3,431,179 3,230,410 1,030,497 931,887 867,561
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.