Company: TDDWW
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001437749-25-005487
Chunk: 870

Company: TIDEWATER INC
Filing Date: 2025-02-27
Form: 10-K
Item: Item 5
Chunk 870
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 rate of 21% to pre-tax loss as a result of the following:

     (In Thousands)   Year Ended December 31,  
  2024  2023  2022 
 Computed “expected” tax expense (benefit)  $48,192  $29,175  $(484)
 Increase (reduction) resulting from:             
 Foreign income taxed at different rates   (50,669)  (35,088)  (7,240)
 Uncertain tax positions (A)   (787)  (1,401)  (7,885)
 Nondeductible transaction costs   (710)  (898)  5,410 
 Valuation allowance - deferred tax assets (A)   (28,040)  (83)  11,339 
 Valuation allowance - deferred tax true-up   (1,831)  390   (453)
 Deferred tax true-up   1,831   (390)  453 
 Foreign taxes   52,842   36,339   27,945 
 Net GILTI Inclusion   22,249   2,705   — 
 Return to accrual   4,500   (8,079)  (12,162)
 Restructuring   —   13,896   — 
 Share based compensation   (13,177)  (1,470)  — 
 162(m) - Executive compensation   11,995   2,107   552 
 Subpart F income   3,700   6,664   3,495 
 Other, net   121   (559)  (1,084)
  $50,216  $43,308  $19,886 

    (A)  The above table reflects the net impact of changes to uncertain tax benefits and valuation allowance. Reductions in unrecognized tax benefits due to lapse of statute of limitations has been fully offset with an increase to valuation allowance. 

       93

   The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities are as follows:

     (In Thousands)   December 31,    December 31,  
   2024    2023  
 Deferred tax assets