[Verse 1]
Yes, you're a big ship
Loaded down with a whole lot of baggage and freight
And life's a luxury liner
Cutting through each circumstance and wave
Now the cold icy waters
Have sent the captain with his bottle off to bed
And the temperature's dropping
Radio, radio is dead

[Chorus]
Taking on water
(Taking on water)
Going down fast
(Going down fast)
Yes, under the breakers
Send an S.O.S.
Tell all the passengers
(Tell each and every)
To spend what they wanna
Taking on water
(Taking on water)

[Verse 2]
C-c-c-call it catastrophe
Or the hand of the Good Lord reaching through
C-c-c-call it a tragedy
But there will be no last-minute interviews
Got to be a bit heavy-handed
When you're swimming in the shark-infested seas
Yeah, to get my attention
Off of my treason and mutiny
[Chorus]
Taking on water
(Taking on water)
Going down fast
(Going down fast)
Yes, under the breakers
(Under the breakers)
Send an S.O.S.
Tell all the passengers
(Tell each and every)
To spend what they wanna
Taking on water
(Taking on water)

[Guitar Solo]

[Verse 3]
Yeah, call me irresponsible
But baby, call me undeniably true
Well, at least for the moment
When I first set my eyes on you
Got a big hole in a small heart
I'm asking You--no, begging You to fill
Gonna take some radical surgery
But you know my, know my nasty will
[Chorus]
Taking on water
(Taking on water)
Going down fast
(Going down fast)
Yes, under the breakers
(Under the breakers)
Send an S.O.S.
Tell all the passengers
(Tell each and every)
To spend what they wanna
Taking on water
(Taking on water)

[Outro]
Taking on water
(Taking on water, oh)
Yes, taking on water