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CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS (LOSS) (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Revenues:    
Vessel revenues $ 162,430 $ 298,313
Other operating revenues 5,495 6,461
Total revenues 167,925 304,774
Costs and expenses:    
Vessel operating costs 108,874 179,281
Costs of other operating revenues 3,903 5,744
General and administrative 37,047 43,953
Vessel operating leases 8,441 8,443
Depreciation and amortization 44,552 45,657
Gain on asset dispositions, net (5,643) (7,351)
Asset impairments [1] 36,886 14,958
Total costs and expenses 234,060 290,685
Operating income (loss) (66,135) 14,089
Other income (expenses):    
Foreign exchange loss (2,733) (4,133)
Equity in net losses of unconsolidated companies (1) (2,441)
Interest income and other, net 1,176 790
Interest and other debt costs, net (16,954) (13,182)
Total other income (expenses) (18,512) (18,966)
Loss before income taxes (84,647) (4,877)
Income tax expense 3,996 10,287
Net Loss (88,643) (15,164)
Less: Net income (loss) attributable to noncontrolling interests 454 (112)
Net loss attributable to Tidewater Inc. $ (89,097) $ (15,052)
Basic loss per common share [2] $ (1.89) $ (0.32)
Diluted loss per common share [3] $ (1.89) $ (0.32)
Weighted average common shares outstanding 47,067,715 46,981,747
Adjusted weighted average common shares 47,067,715 46,981,747
[1] Refer to Note (14) for additional information regarding asset impairment charges.
[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”.