BW Offshore Balance Sheet

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Equivalents	395.2	305.8	361	230.3	274.2
Cash & Short-Term Investments	395.2	305.8	361	230.3	274.2
Cash Growth	29.23%	-15.29%	56.75%	-16.01%	96.42%
Accounts Receivable	97.4	152.9	111.4	258.6	250
Other Receivables	11.4	11.5	36.4	16.3	29
Receivables	108.8	164.4	147.8	274.9	279
Inventory	-	3.7	3.7	6.7	25.7
Prepaid Expenses	4.8	5.3	4.6	6.1	30.7
Other Current Assets	1.6	-	1.7	16.1	146.5
Total Current Assets	510.4	479.2	518.8	534.1	756.1
Property, Plant & Equipment	3,394	3,162	2,850	2,424	1,873
Long-Term Investments	210.8	226.4	384.8	337.9	210.3
Goodwill	30.1	26.5	28.2	27.4	28.7
Other Intangible Assets	50.1	47.5	54.1	56.5	66.5
Long-Term Deferred Tax Assets	61.5	64.1	61.6	61.8	62.9
Long-Term Deferred Charges	7.8	6.4	5.5	4.1	4.5
Other Long-Term Assets	16.3	33.2	50	52.9	8.2
Total Assets	4,281	4,045	3,953	3,499	3,010
Accounts Payable	17.1	13.9	79.5	81.2	108.9
Accrued Expenses	49.1	49.6	63.7	100.9	103.6
Current Portion of Long-Term Debt	56.8	57.5	242.5	206.3	120.2
Current Portion of Leases	46.1	4.2	2.6	5.9	6.2
Current Income Taxes Payable	9.4	13.8	18.4	11.7	21.8
Current Unearned Revenue	94	44.5	67.4	63.1	65.3
Other Current Liabilities	20	29.6	21	131.4	121.1
Total Current Liabilities	292.5	213.1	495.1	600.5	547.1
Long-Term Debt	126.6	173.9	290.7	522.4	807.4
Long-Term Leases	1,398	1,363	1,032	538.1	206.1
Long-Term Unearned Revenue	1,143	1,021	910.2	654	371.7
Pension & Post-Retirement Benefits	-	-	4.5	4.3	5.2
Long-Term Deferred Tax Liabilities	11.1	10.5	15.6	20.9	24.2
Other Long-Term Liabilities	16.7	17.8	10.2	7.3	26.6
Total Liabilities	2,988	2,799	2,758	2,348	1,988
Common Stock	92.5	92.5	92.5	92.5	92.5
Additional Paid-In Capital	1,096	1,096	1,096	1,096	1,096
Treasury Stock	-9.1	-10.1	-10.1	-10.1	-10.1
Comprehensive Income & Other	-32.5	-88.1	-172.3	-239.4	-404.4
Total Common Equity	1,146	1,090	1,006	938.5	773.5
Minority Interest	146.6	156.8	189.7	212.6	247.9
Shareholders' Equity	1,293	1,247	1,195	1,151	1,021
Total Liabilities & Equity	4,281	4,045	3,953	3,499	3,010
Total Debt	1,628	1,598	1,567	1,273	1,140
Net Cash (Debt)	-1,233	-1,292	-1,206	-1,042	-865.7
Net Cash Per Share	-6.80	-6.41	-5.82	-4.94	-4.02
Filing Date Shares Outstanding	181.22	180.81	180.81	180.81	180.8
Total Common Shares Outstanding	181.22	180.81	180.81	180.81	180.81
Working Capital	217.9	266.1	23.7	-66.4	209
Book Value Per Share	6.33	6.03	5.56	5.19	4.28
Tangible Book Value	1,066	1,016	923.3	854.6	678.3
Tangible Book Value Per Share	5.88	5.62	5.11	4.73	3.75
Machinery	1,691	2,483	2,640	3,888	3,975
Construction In Progress	2,710	2,300	1,823	1,097	374.7

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.