Company: TDDWW
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0001437749-25-024640
Chunk: 32

Company: TIDEWATER INC
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 1
Chunk 32
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 $0.5 million to the pension plan during the remainder of 2025.
    
   Supplemental Executive Retirement Plan
    
   We support a non-contributory and non-qualified defined benefit supplemental executive retirement plan (supplemental plan) that was closed to new participants in 2010. We contributed $0.6 million and $0.8 million to the supplemental plan for the six months ended  June 30, 2025 and 2024, respectively, and expect to contribute $0.6 million during the remainder of 2025. Our estimated obligations under the supplemental plan were $15.0 million and $16.3 million at  June 30, 2025 and  December 31, 2024, respectively, and are included in “accrued expenses” and “other liabilities” in the consolidated condensed balance sheet.
    
   Net Periodic Benefit Costs
    
   The net periodic benefit cost for our defined benefit pension plans and supplemental plan (collectively Pension Benefits) is comprised of the following components:

     (In Thousands)   Three Months Ended    Six Months Ended  
   June 30, 2025    June 30, 2024    June 30, 2025    June 30, 2024  
 Pension Benefits:                 
 Interest cost  $619  $630  $1,237  $1,260 
 Expected return on plan assets   (457)  (445)  (915)  (890)
 Amortization of net actuarial gains   (55)  (31)  (110)  (61)
 Net periodic pension cost  $107  $154  $212  $309 

   The components of the net periodic pension cost are included in the caption “Interest income and other, net.”

       12

    (8)  DEBT 

   The following is a summary of all debt outstanding:

     (In Thousands)         
   June 30, 2025    December 31, 2024  
 Senior bonds:         
 Senior Secured Term Loan (A)  $187,500  $212,500 
 10.375% Senior Unsecured Notes due July 2028 (B)   250,000   250,