XML 20 R4.htm IDEA: XBRL DOCUMENT v3.22.4
Consolidated Statements of Operations - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Revenues:      
Revenue $ 647,684 $ 371,033 $ 397,038
Costs and expenses:      
Vessel operating costs 397,301 261,814 268,780
Costs of other operating revenues 2,130 2,231 3,405
General and administrative 101,921 68,516 73,447
Depreciation and amortization 119,160 114,544 116,709
(Gain) loss on asset dispositions, net (250) 2,901 (7,591)
Affiliate credit loss impairment expense 0 400 52,981
Affiliate guarantee obligation 0 0 2,000
Long-lived asset impairments and other 714 15,643 74,109
Total costs and expenses 620,976 466,049 583,840
Operating income (loss) 26,708 (95,016) (186,802)
Other income (expense):      
Foreign exchange loss (2,827) (369) (5,245)
Equity in net earnings (losses) of unconsolidated companies (221) (3,322) 164
Dividend income from unconsolidated company 0 0 17,150
Interest income and other, net 5,397 1,605 1,228
Loss on warrants (14,175) 0 0
Loss on early extinguishment of debt 0 (11,100) 0
Interest and other debt costs, net (17,189) (15,583) (24,156)
Total other expense (29,015) (28,769) (10,859)
Loss before income taxes (2,307) (123,785) (197,661)
Income tax (benefit) expense 19,886 5,875 (965)
Net loss (22,193) (129,660) (196,696)
Less: Net losses attributable to noncontrolling interests (444) (691) (454)
Net loss attributable to Tidewater Inc. $ (21,749) $ (128,969) $ (196,242)
Basic loss per common share (in dollars per share) $ (0.49) $ (3.14) $ (4.86)
Diluted loss per common share (in dollars per share) $ (0.49) $ (3.14) $ (4.86)
Weighted average common shares outstanding (in shares) 44,132 41,009 40,355
Dilutive effect of warrants, restricted stock units and stock options (in shares) 0 0 0
Adjusted weighted average common shares (in shares) 44,132 41,009 40,355
Vessel [Member]      
Revenues:      
Revenue $ 641,404 $ 361,569 $ 386,174
Product and Service, Other [Member]      
Revenues:      
Revenue $ 6,280 $ 9,464 $ 10,864