$INSW
International Seaways, Inc.

2023 Q4 Form 10-Q Financial Statement

#000155837023017873 Filed on November 07, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3 2022 Q3
Revenue $250.7M $241.7M $236.8M
YoY Change -25.85% 2.06% 179.23%
Cost Of Revenue $80.25M $79.50M $65.75M
YoY Change 11.71% 20.91% -10.6%
Gross Profit $170.5M $162.2M $171.1M
YoY Change -35.98% -5.19% 1418.52%
Gross Profit Margin 67.99% 67.11% 72.24%
Selling, General & Admin $14.79M $14.50M $14.73M
YoY Change -5.96% -1.57% 42.44%
% of Gross Profit 8.68% 8.94% 8.61%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $33.68M $33.36M $27.89M
YoY Change 18.58% 19.64% 8.06%
% of Gross Profit 19.76% 20.57% 16.3%
Operating Expenses $48.47M $47.80M $42.46M
YoY Change 9.83% 12.58% 17.66%
Operating Profit $122.0M $114.2M $128.6M
YoY Change -45.09% -11.24% -304.74%
Interest Expense -$13.86M $16.82M -$15.22M
YoY Change -16.86% -210.46% -243.1%
% of Operating Profit -11.36% 14.73% -11.84%
Other Income/Expense, Net $242.0K $646.0K $651.0K
YoY Change -87.44% -0.77% -676.11%
Pretax Income $135.6M $97.99M $113.4M
YoY Change -37.95% -13.62% -267.2%
Income Tax $3.446M $52.00K $7.000K
% Of Pretax Income 2.54% 0.05% 0.01%
Net Earnings $132.0M $97.94M $113.4M
YoY Change -39.55% -13.66% -268.41%
Net Earnings / Revenue 52.66% 40.52% 47.89%
Basic Earnings Per Share $2.00 $2.30
Diluted Earnings Per Share $2.67 $1.99 $2.280M
COMMON SHARES
Basic Shares Outstanding 48.91M 48.89M 49.70M
Diluted Shares Outstanding 49.28M 49.74M

Balance Sheet

Concept 2023 Q4 2023 Q3 2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $186.8M $214.0M $254.5M
YoY Change -42.31% -15.9% 133.67%
Cash & Equivalents $126.8M $139.0M $174.5M
Short-Term Investments $60.00M $75.00M $80.00M
Other Short-Term Assets $15.42M $27.70M $16.18M
YoY Change -3.5% 71.2% 0.32%
Inventory $1.329M $1.143M $873.0K
Prepaid Expenses
Receivables $247.2M $219.8M $230.1M
Other Receivables $14.30M $11.30M $7.891M
Total Short-Term Assets $465.0M $473.9M $509.6M
YoY Change -27.64% -7.0% 122.72%
LONG-TERM ASSETS
Property, Plant & Equipment $1.914B $1.948B $1.892B
YoY Change 13.95% 2.97% -0.91%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $31.75M $33.50M $38.11M
YoY Change -12.81% -12.09% -78.52%
Other Assets $6.571M $6.334M $20.69M
YoY Change -28.73% -69.38% 480.25%
Total Long-Term Assets $2.057B $2.087B $1.950B
YoY Change 4.26% 7.01% -11.87%
TOTAL ASSETS
Total Short-Term Assets $465.0M $473.9M $509.6M
Total Long-Term Assets $2.057B $2.087B $1.950B
Total Assets $2.522B $2.561B $2.460B
YoY Change -3.58% 4.11% 0.74%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.570M $42.90M $45.59M
YoY Change 259.8% -5.91% -7.12%
Accrued Expenses $10.22M $9.800M $8.323M
YoY Change 540.54% 17.75% 23.96%
Deferred Revenue $6.244M
YoY Change 110.8%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $127.4M $134.7M $167.0M
YoY Change -21.74% -19.32% -24.38%
Total Short-Term Liabilities $195.6M $187.3M $220.9M
YoY Change -24.02% -15.19% -21.38%
LONG-TERM LIABILITIES
Long-Term Debt $595.2M $707.0M $900.5M
YoY Change -30.83% -21.49% 1.45%
Other Long-Term Liabilities $2.628M $2.588M $9.681M
YoY Change 40.16% -73.27% -23.78%
Total Long-Term Liabilities $597.9M $709.6M $910.2M
YoY Change -30.68% -22.04% 1.09%
TOTAL LIABILITIES
Total Short-Term Liabilities $195.6M $187.3M $220.9M
Total Long-Term Liabilities $597.9M $709.6M $910.2M
Total Liabilities $805.1M $910.9M $1.131B
YoY Change -28.6% -19.46% -5.52%
SHAREHOLDERS EQUITY
Retained Earnings $226.8M $155.9M
YoY Change -1157.65%
Common Stock $1.491B $1.489B
YoY Change -0.75%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.717B $1.650B $1.329B
YoY Change
Total Liabilities & Shareholders Equity $2.522B $2.561B $2.460B
YoY Change -3.58% 4.11% 0.74%

Cashflow Statement

Concept 2023 Q4 2023 Q3 2022 Q3
OPERATING ACTIVITIES
Net Income $132.0M $97.94M $113.4M
YoY Change -39.55% -13.66% -268.41%
Depreciation, Depletion And Amortization $33.68M $33.36M $27.89M
YoY Change 18.58% 19.64% 8.06%
Cash From Operating Activities $125.5M $148.4M $91.36M
YoY Change -30.9% 62.44% -444.54%
INVESTING ACTIVITIES
Capital Expenditures $13.38M $4.600M -$33.97M
YoY Change -52.91% -113.54% 67.63%
Acquisitions
YoY Change
Other Investing Activities $58.66M $43.60M -$78.54M
YoY Change 205.83% -155.51% -149.88%
Cash From Investing Activities $45.28M $39.00M -$112.5M
YoY Change -590.72% -134.66% -182.0%
FINANCING ACTIVITIES
Cash Dividend Paid $61.16M $69.40M $6.000M
YoY Change 11.19% 1056.67% 100.0%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -183.0M -164.5M -35.04M
YoY Change 75.69% 369.42% -68.62%
NET CHANGE
Cash From Operating Activities 125.5M 148.4M 91.36M
Cash From Investing Activities 45.28M 39.00M -112.5M
Cash From Financing Activities -183.0M -164.5M -35.04M
Net Change In Cash -12.22M 22.90M -56.19M
YoY Change -117.91% -140.75% 5675.44%
FREE CASH FLOW
Cash From Operating Activities $125.5M $148.4M $91.36M
Capital Expenditures $13.38M $4.600M -$33.97M
Free Cash Flow $112.1M $143.8M $125.3M
YoY Change -26.82% 14.74% -2104.53%

Facts In Submission

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CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
49312716
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
49008901
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
49493315
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
49275022
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
49743700
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
49442825
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
49758196
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.00
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.30
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
8.65
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
3.42
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.99
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.28
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
8.58
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
3.40
CY2023Q3 us-gaap Profit Loss
ProfitLoss
97937000
CY2022Q3 us-gaap Profit Loss
ProfitLoss
113427000
us-gaap Profit Loss
ProfitLoss
424332000
us-gaap Profit Loss
ProfitLoss
169462000
CY2023Q3 us-gaap Change In Unrealized Gain Loss On Fair Value Hedging Instruments1
ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1
-968000
CY2022Q3 us-gaap Change In Unrealized Gain Loss On Fair Value Hedging Instruments1
ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1
10112000
us-gaap Change In Unrealized Gain Loss On Fair Value Hedging Instruments1
ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1
-1725000
us-gaap Change In Unrealized Gain Loss On Fair Value Hedging Instruments1
ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1
21840000
CY2023Q3 us-gaap Other Comprehensive Income Defined Benefit Plan Net Prior Service Costs Credit Arising During Period Net Of Tax
OtherComprehensiveIncomeDefinedBenefitPlanNetPriorServiceCostsCreditArisingDuringPeriodNetOfTax
-49000
CY2022Q3 us-gaap Other Comprehensive Income Defined Benefit Plan Net Prior Service Costs Credit Arising During Period Net Of Tax
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us-gaap Other Comprehensive Income Defined Benefit Plan Net Prior Service Costs Credit Arising During Period Net Of Tax
OtherComprehensiveIncomeDefinedBenefitPlanNetPriorServiceCostsCreditArisingDuringPeriodNetOfTax
11000
us-gaap Other Comprehensive Income Defined Benefit Plan Net Prior Service Costs Credit Arising During Period Net Of Tax
OtherComprehensiveIncomeDefinedBenefitPlanNetPriorServiceCostsCreditArisingDuringPeriodNetOfTax
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CY2023Q3 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax
323000
CY2022Q3 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax
516000
us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax
-69000
us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax
1176000
CY2023Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-596000
CY2022Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
10706000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-1805000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
23193000
CY2023Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
97341000
CY2022Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
124133000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
422527000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
192655000
us-gaap Profit Loss
ProfitLoss
424332000
us-gaap Profit Loss
ProfitLoss
169462000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
95356000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
81984000
us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
1697000
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
4491000
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
3630000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
0
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
842000
insw Deferred Financing Costs Write Off
DeferredFinancingCostsWriteOff
1952000
insw Deferred Financing Costs Write Off
DeferredFinancingCostsWriteOff
610000
us-gaap Share Based Compensation
ShareBasedCompensation
5912000
us-gaap Share Based Compensation
ShareBasedCompensation
4447000
us-gaap Income Loss From Equity Method Investments Net Of Dividends Or Distributions
IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions
-20000
us-gaap Income Loss From Equity Method Investments Net Of Dividends Or Distributions
IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions
10017000
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
2140000
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
774000
us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
10648000
us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
11036000
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-1323000
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0
us-gaap Equity Method Investment Realized Gain Loss On Disposal
EquityMethodInvestmentRealizedGainLossOnDisposal
0
us-gaap Equity Method Investment Realized Gain Loss On Disposal
EquityMethodInvestmentRealizedGainLossOnDisposal
-9513000
insw Allocated General And Administrative Expenses Recorded As Capital Contributions
AllocatedGeneralAndAdministrativeExpensesRecordedAsCapitalContributions
0
insw Allocated General And Administrative Expenses Recorded As Capital Contributions
AllocatedGeneralAndAdministrativeExpensesRecordedAsCapitalContributions
2250000
insw Payments For Drydocking
PaymentsForDrydocking
27622000
insw Payments For Drydocking
PaymentsForDrydocking
36280000
us-gaap Proceeds From Insurance Settlement Operating Activities
ProceedsFromInsuranceSettlementOperatingActivities
2858000
us-gaap Proceeds From Insurance Settlement Operating Activities
ProceedsFromInsuranceSettlementOperatingActivities
4545000
us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
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us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
123045000
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
911000
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
1009000
us-gaap Increase Decrease In Operating Liabilities
IncreaseDecreaseInOperatingLiabilities
-3774000
us-gaap Increase Decrease In Operating Liabilities
IncreaseDecreaseInOperatingLiabilities
7364000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
562919000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
106201000
insw Payment To Acquire Vessels And Vessels Improvements
PaymentToAcquireVesselsAndVesselsImprovements
192218000
insw Payment To Acquire Vessels And Vessels Improvements
PaymentToAcquireVesselsAndVesselsImprovements
87603000
insw Proceeds From Costs Sale Of Property Plant And Equipment
ProceedsFromCostsSaleOfPropertyPlantAndEquipment
20036000
insw Proceeds From Costs Sale Of Property Plant And Equipment
ProceedsFromCostsSaleOfPropertyPlantAndEquipment
79476000
us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
1035000
us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
674000
us-gaap Payments To Acquire Restricted Certificates Of Deposit
PaymentsToAcquireRestrictedCertificatesOfDeposit
210000000
us-gaap Payments To Acquire Restricted Certificates Of Deposit
PaymentsToAcquireRestrictedCertificatesOfDeposit
80000000
us-gaap Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
215000000
us-gaap Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
0
insw Proceeds From Payments To Pool Working Capital Deposits
ProceedsFromPaymentsToPoolWorkingCapitalDeposits
-1334000
insw Proceeds From Payments To Pool Working Capital Deposits
ProceedsFromPaymentsToPoolWorkingCapitalDeposits
1862000
us-gaap Proceeds From Sale Of Equity Method Investments
ProceedsFromSaleOfEquityMethodInvestments
0
us-gaap Proceeds From Sale Of Equity Method Investments
ProceedsFromSaleOfEquityMethodInvestments
138966000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-169551000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
52027000
us-gaap Proceeds From Issuance Of Other Long Term Debt
ProceedsFromIssuanceOfOtherLongTermDebt
0
us-gaap Proceeds From Issuance Of Other Long Term Debt
ProceedsFromIssuanceOfOtherLongTermDebt
641050000
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
50000000
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
0
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
323685000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
744034000
insw Proceeds From Sale And Leaseback Financing Net Of Issuance And Deferred Financing Costs
ProceedsFromSaleAndLeasebackFinancingNetOfIssuanceAndDeferredFinancingCosts
169717000
insw Proceeds From Sale And Leaseback Financing Net Of Issuance And Deferred Financing Costs
ProceedsFromSaleAndLeasebackFinancingNetOfIssuanceAndDeferredFinancingCosts
88791000
insw Payments Of Sale And Leaseback Financing
PaymentsOfSaleAndLeasebackFinancing
123732000
insw Payments Of Sale And Leaseback Financing
PaymentsOfSaleAndLeasebackFinancing
28640000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
3006000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
782000
insw Payment Of Premiums For Debt Extinguishment
PaymentOfPremiumsForDebtExtinguishment
1323000
insw Payment Of Premiums For Debt Extinguishment
PaymentOfPremiumsForDebtExtinguishment
0
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
13948000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
20017000
us-gaap Payments Of Dividends
PaymentsOfDividends
247001000
us-gaap Payments Of Dividends
PaymentsOfDividends
14830000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
5158000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
3174000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-498136000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-81636000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-104768000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
76592000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
243744000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
98933000
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
138976000
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
175525000
CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1487752000
us-gaap Profit Loss
ProfitLoss
424332000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-1805000
us-gaap Adjustments To Additional Paid In Capital Dividends In Excess Of Retained Earnings
AdjustmentsToAdditionalPaidInCapitalDividendsInExcessOfRetainedEarnings
247008000
us-gaap Stock Issued During Period Value Restricted Stock Award Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardForfeitures
5158000
us-gaap Stock Granted During Period Value Sharebased Compensation
StockGrantedDuringPeriodValueSharebasedCompensation
456000
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
13948000
CY2023Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1650077000
CY2021Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1170332000
us-gaap Profit Loss
ProfitLoss
169462000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
23193000
us-gaap Adjustments To Additional Paid In Capital Dividends In Excess Of Retained Earnings
AdjustmentsToAdditionalPaidInCapitalDividendsInExcessOfRetainedEarnings
14827000
us-gaap Minority Interest Decrease From Redemptions
MinorityInterestDecreaseFromRedemptions
584000
us-gaap Stock Issued During Period Value Restricted Stock Award Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardForfeitures
3174000
us-gaap Stock Granted During Period Value Sharebased Compensation
StockGrantedDuringPeriodValueSharebasedCompensation
763000
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
20017000
CY2022Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1328832000
CY2023Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1620274000
CY2023Q3 us-gaap Profit Loss
ProfitLoss
97937000
CY2023Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-596000
CY2023Q3 us-gaap Adjustments To Additional Paid In Capital Dividends In Excess Of Retained Earnings
AdjustmentsToAdditionalPaidInCapitalDividendsInExcessOfRetainedEarnings
69428000
CY2023Q3 us-gaap Stock Issued During Period Value Restricted Stock Award Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardForfeitures
149000
CY2023Q3 us-gaap Stock Granted During Period Value Sharebased Compensation
StockGrantedDuringPeriodValueSharebasedCompensation
117000
CY2023Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1650077000
CY2022Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1231148000
CY2022Q3 us-gaap Profit Loss
ProfitLoss
113427000
CY2022Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
10706000
CY2022Q3 us-gaap Adjustments To Additional Paid In Capital Dividends In Excess Of Retained Earnings
AdjustmentsToAdditionalPaidInCapitalDividendsInExcessOfRetainedEarnings
5886000
CY2023Q3 us-gaap Minority Interest Decrease From Redemptions
MinorityInterestDecreaseFromRedemptions
584000
CY2022Q3 us-gaap Stock Issued During Period Value Restricted Stock Award Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardForfeitures
1681000
CY2022Q3 us-gaap Stock Granted During Period Value Sharebased Compensation
StockGrantedDuringPeriodValueSharebasedCompensation
225000
CY2022Q3 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
20017000
CY2022Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1328832000
CY2023Q3 insw Number Of Vessels In Fleet
NumberOfVesselsInFleet
77
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-style:italic;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-style:italic;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-style:italic;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-style:italic;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-style:italic;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><i style="font-style:italic;">Concentration of Credit Risk</i> <b style="font-weight:bold;">— </b>The allowance for credit losses is recognized as an allowance or contra-asset and reflects our best estimate of probable losses inherent in the voyage receivables balance. Activity for allowance for credit losses is summarized as follows:</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:77.87%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:middle;width:1.89%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:middle;white-space:nowrap;width:1.89%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:middle;width:18.32%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td></tr><tr><td style="vertical-align:bottom;width:77.87%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><i style="font-style:italic;">(Dollars in thousands)</i></p></td><td style="vertical-align:middle;width:1.89%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="vertical-align:middle;white-space:nowrap;width:1.89%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="vertical-align:middle;width:18.32%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;">Allowance for Credit Losses - <br/>Voyage Receivables</p></td></tr><tr><td style="vertical-align:middle;width:77.87%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Balance at December 31, 2022</p></td><td style="vertical-align:middle;width:1.89%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="vertical-align:middle;white-space:nowrap;width:1.89%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">$</p></td><td style="vertical-align:bottom;white-space:nowrap;width:18.32%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0pt 0pt;"> 261</p></td></tr><tr><td style="vertical-align:middle;width:77.87%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0pt 6pt;">Reversal of expected credit losses</p></td><td style="vertical-align:middle;width:1.89%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="vertical-align:middle;white-space:nowrap;width:1.89%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:18.32%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"> (132)</p></td></tr><tr><td style="vertical-align:middle;width:77.87%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Balance at September 30, 2023</p></td><td style="vertical-align:middle;white-space:nowrap;width:1.89%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="vertical-align:middle;white-space:nowrap;width:1.89%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">$</p></td><td style="vertical-align:middle;white-space:nowrap;width:18.32%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0pt 0pt;"> 129</p></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">During the three and nine months ended September 30, 2023 and 2022, the Company did not have any individual customers who accounted for 10% or more of its revenues apart from the pools in which it participates. The pools in which the Company participates accounted in aggregate for 96% of consolidated voyage receivables at both September 30, 2023 and December 31, 2022.</p>
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
261000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
132000
CY2023Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
129000
CY2023Q3 us-gaap Amortization Of Financing Costs
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Assets
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Assets
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us-gaap Debt Instrument Covenant Compliance
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CY2023Q3 ecd Rule10b51 Arr Trmntd Flag
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