Company: TEN-PE
Filing Date: 2025-04-11
Form Type: 20-F
Source: 0001193125-25-079101
Chunk: 0

Company: TSAKOS ENERGY NAVIGATION LTD
Filing Date: 2025-04-11
Form: 20-F
Item: Item 3
Chunk 0
---
Item 3. Key Information

Capitalization

The following table sets forth our (i) cash and cash equivalents, (ii) restricted cash and (iii) consolidated capitalization as of December 31, 2024. This table should be read in conjunction with our consolidated financial statements and the notes thereto, and “ Item 5. Operating and Financial Review and Prospects,” included elsewhere in this Annual Report.

  In thousands of U. S. Dollars                                                                                                                                            As of December 31, 2024  
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Cash                                                                                                                                                                                              
  Cash and cash equivalents                                                                                                                                                                343,373  
  Restricted cash                                                                                                                                                                            4,939  
  Total cash                                                                                                                                                                               348,312  
  Capitalization                                                                                                                                                                                    
  Debt:                                                                                                                                                                                             
  Long-term secured debt obligations and other financial liabilities (including current portion) 1                                                                                       1,747,094  
  Stockholders’ equity:                                                                                                                                                                             
  Preferred shares, $1.00 par value; 25,000,000 shares authorized, 4,745,947 Series E Preferred Shares and 6,747,147 Series F Preferred Shares issued and outstanding                       11,493  
  Common shares, $5.00 par value; 60,000,000 shares authorized; 30,805,776 shares issued, and 30,127,603 shares outstanding                                                                151,541  
  Additional paid-in capital                                                                                                                                                               919,718  
  Cost of treasury stock                                                                                                                                                                   (6,791)  
  Accumulated other comprehensive loss                                                                                                                                                       (904)  
  Retained earnings                                                                                                                                                                        652,651  
  Non-controlling interest                                                                                                                                                                  39,489  
  Total stockholders’ equity                                                                                                                                                             1,767,197  
  Total capitalization                                                                                                                                                                   3,514,291  
  1 Obligations under operating leases are not included.                                                                                                                                            

  Table of Contents       2  

Reasons for the Offer and Use of Proceeds

Not Applicable.

Risk Factors

Summary of Risk Factors

An investment in our common shares or preferred shares is subject to a number of risks, including risks related to our industry, business and corporate structure. The following summarizes some, but not all, of these risks. Please carefully consider all of the information discussed in “ Item 3. Key Information - Risk Factors” in this annual