XML 18 R4.htm IDEA: XBRL DOCUMENT v3.19.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Revenues:        
Total revenues $ 125,859,000 $ 105,601,000 $ 248,008,000 $ 197,094,000
Costs and expenses:        
Vessel operating costs 80,439,000 68,012,000 162,642,000 129,376,000
Costs of other operating revenues 586,000 642,000 1,350,000 3,116,000
General and administrative 23,696,000 24,425,000 50,836,000 47,990,000
Depreciation and amortization 25,038,000 12,785,000 47,970,000 24,802,000
Loss (gain) on asset dispositions, net 494,000 (1,338,000) (776,000) (3,257,000)
Asset impairments 0 1,215,000 [1] 0 7,401,000 [1]
Total operating costs and expenses 130,253,000 105,741,000 262,022,000 209,428,000
Operating loss (4,394,000) (140,000) (14,014,000) (12,334,000)
Other income (expense):        
Foreign exchange gain (loss) 11,000 (1,002,000) (497,000) (1,350,000)
Equity in net earnings (losses) of unconsolidated companies 95,000 390,000 33,000 (15,049,000)
Interest income and other, net 1,859,000 2,914,000 4,329,000 2,786,000
Interest and other debt costs, net (7,582,000) (7,547,000) (15,318,000) (15,146,000)
Total other expense (5,617,000) (5,245,000) (11,453,000) (28,759,000)
Loss before income taxes (10,011,000) (5,385,000) (25,467,000) (41,093,000)
Income tax expense 5,542,000 5,797,000 11,372,000 9,118,000
Net loss (15,553,000) (11,182,000) (36,839,000) (50,211,000)
Less: Net income attributable to noncontrolling interests 406,000 (242,000) 851,000 (99,000)
Net loss attributable to Tidewater Inc. $ (15,959,000) $ (10,940,000) $ (37,690,000) $ (50,112,000)
Basic loss per common share $ (0.42) $ (0.44) $ (1.01) $ (2.09)
Diluted loss per common share $ (0.42) $ (0.44) $ (1.01) $ (2.09)
Weighted average common shares outstanding 37,571 25,654 37,369 23,989
Adjusted weighted average common shares 37,571 25,654 37,369 23,989
Vessel Revenues        
Revenues:        
Total revenues $ 123,641,000 $ 104,174,000 $ 243,303,000 $ 191,668,000
Other Operating Revenues        
Revenues:        
Total revenues $ 2,218,000 $ 1,427,000 $ 4,705,000 $ 5,426,000
[1] Refer to Note (14) for additional information regarding asset impairment charges.