Company: TDDWW
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001437749-25-034124
Chunk: 40

Company: TIDEWATER INC
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 1
Chunk 40
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 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 and nine months ended  September 30, 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    Nine Months Ended  
   September 30, 2025    September 30, 2024    September 30, 2025    September 30, 2024  
 Americas:                 
 Vessel revenues  $76,913  $64,606  $200,523  $201,689 
                 
 Vessel operating costs:                 
 Crew costs   22,634   21,646   59,726   69,026 
 Repair and maintenance   5,350   5,227   14,446   15,406 
 Insurance   570   571   1,492   1,528 
 Fuel, lube and supplies   2,464   3,165   7,296   10,681 
 Other   4,598   5,921   20,692   17,596 
 Total vessel operating costs   35,616   36,530   103,652   114,237 
 General and administrative expense   3,720   3,695   11,047   10,441 
 Depreciation and amortization   12,923   11,082   36,033   33,438 
 Vessel operating profit   24,654   13,299   49,791   43,573