Company: TDDWW
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0001437749-25-014565
Chunk: 34

Company: TIDEWATER INC
Filing Date: 2025-05-05
Form: 10-Q
Item: Part I, Item 1
Chunk 34
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 16,959

       $
       17,525

        Liability for uncertain tax positions 

       23,742

       24,582

        Other 

       21,562

       18,289

       $
       62,263

       $
       60,396

       17

       (12) 
       SEGMENT AND GEOGRAPHIC DISTRIBUTION OF OPERATIONS 

   Each of our five operating segments is led by senior management reporting to our Chief Executive Officer, the chief operating decision maker (CODM). Our operating segments comprise the structure used by our CODM to make key operating decisions and assess performance. Discrete financial information is available for each of the segments, and our CODM uses the results of each of the operating segments for resource allocation and performance evaluation. Our CODM evaluates the segments’ operating performance based on segment operating income. Segment operating income is defined as segment revenues less segment costs and expenses. The CODM primarily considers segment operating income for evaluating performance of each segment and making decisions about allocating capital and other resources to each segment.
    
   The following tables provide a comparison of revenues, vessel operating profit, depreciation and amortization, additions to properties and equipment and assets by segment and in total for the three months ended  March 31, 2025 and 2024. Vessel operating profit is calculated as vessel revenues less vessel operating costs, segment depreciation expenses, and segment general and administrative costs. Vessel revenues and operating costs relate to our owned and operated vessels while other operating revenues relate to the activities of our other miscellaneous marine-related businesses.

        (In Thousands) 
        
        Three Months Ended 

        March 31, 2025 

        March 31, 2024 

        Americas: 

        Vessel revenues 
        
       $
       54,852

       $
       63,941

        Vessel operating costs: 

        Crew costs 

       17,440

       24,062

        Repair and maintenance 

       4,266

       4,534

        Insurance 

       571

       494

        Fuel, lube and supplies 

       2,617

       4,522

        Other 

       10,129

       5,928

        Total vessel operating costs 

       35,023

       39,540

        General and administrative expense 

       3,542

       3,332