XML 18 R4.htm IDEA: XBRL DOCUMENT v3.4.0.3
CONSOLIDATED STATEMENTS OF EARNINGS - USD ($)
$ in Thousands
12 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Mar. 31, 2014
Revenues:      
Vessel revenues $ 955,400 $ 1,468,358 $ 1,418,461
Other operating revenues 23,662 27,159 16,642
Total revenues 979,062 1,495,517 1,435,103
Costs and expenses:      
Vessel operating costs 561,133 834,368 795,890
Costs of other operating revenues 18,811 26,505 15,745
General and administrative 153,811 189,819 187,976
Vessel operating leases 33,662 28,322 21,910
Depreciation and amortization 182,309 175,204 167,480
Gain on asset dispositions, net (26,037) (23,796) (21,063)
Asset impairments 117,311 14,525 9,341
Goodwill impairment   283,699 [1] 56,283
Restructuring charge 7,586 4,052  
Total costs and expenses 1,048,586 1,532,698 1,233,562
Operating income (loss) (69,524) (37,181) 201,541
Other income (expenses):      
Foreign exchange gain (loss) (5,403) 8,678 1,541
Equity in net earnings (losses) of unconsolidated companies (13,581) 10,179 15,801
Interest income and other, net 2,703 1,927 2,123
Loss on early extinguishment of debt     (4,144)
Interest and other debt costs, net (53,752) (50,029) (43,814)
Total other income (expenses) (70,033) (29,245) (28,493)
Earnings (loss) before income taxes (139,557) (66,426) 173,048
Income tax (benefit) expense 20,819 (1,077) 32,793
Net earnings (loss) (160,376) (65,349) 140,255
Less: Net losses attributable to noncontrolling interests (193) (159)  
Net earnings (loss) attributable to Tidewater Inc. $ (160,183) $ (65,190) $ 140,255
Basic (loss) earnings per common share [2] $ (3.41) $ (1.34) $ 2.84
Diluted (loss) earnings per common share [3] $ (3.41) $ (1.34) $ 2.82
Weighted average common shares outstanding 46,981,102 48,658,840 49,392,749
Dilutive effect of stock options and restricted stock     287,365
Adjusted weighted average common shares 46,981,102 48,658,840 49,680,114
[1] The total carrying amount of goodwill at March 31, 2014 is net of accumulated impairment charges $30.9 million and $56.3 million related to the Middle East/North Africa and Asia/Pacific segments, respectively.
[2] The company calculates “Loss per share, basic” by dividing “Net loss available to common shareholders” by “Weighted average outstanding share of common stock, basic”.
[3] The company calculates “Loss per share, diluted” by dividing “Net loss available to common shareholders” by “Weighted average common stock and equivalents”.