Company: TDDWW
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001437749-25-005487
Chunk: 855

Company: TIDEWATER INC
Filing Date: 2025-02-27
Form: 10-K
Item: Item 5
Chunk 855
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, 2022 with early adoption permitted. We adopted this standard on  January 1, 2023 and it did not have any impact on our consolidated financial statements and related disclosures.
    
   In  September 2022, the FASB issued ASU 2022-04, Disclosures of Supplier Finance Program Obligations, which requires disclosures about supplier finance programs including the nature of the program, activity during the period, changes from period to period and potential magnitude. The guidance is effective for annual periods beginning after  December 15, 2022, with early adoption permitted. We adopted this standard on  January 1, 2023, and it did not have any impact on our consolidated financial statements and related disclosures.
    
   In  November 2023, the FASB issued ASU 2023-07, Segment Reporting, which requires disclosure of incremental segment information on an annual and interim basis including significant segment expenses that are regularly provided to the chief operating decision maker (CODM) and an explanation of how the CODM uses the reported measures of segment profit or loss in assessing segment performance and deciding how to allocate resources. This guidance is effective for annual periods beginning after  December 15, 2023 and interim periods beginning after  December 15, 2024. We adopted this standard on  December 31, 2024 and we have included the required disclosures in Note 14 for the three years ending  December 31, 2024.

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   Recently Issued Accounting Standards Not Yet Adopted
    
   In  December 2023, the FASB issued ASU 2023-09, Income Taxes, which requires a greater disaggregation of information in the income tax rate reconciliation and income taxes paid by jurisdiction to improve the transparency of the income tax disclosures. This guidance is effective for annual periods beginning after  December 15, 2024. We are currently evaluating the effect of the standard on our disclosures in our consolidated financial statements.
    
   In  November 2024, the FASB issued ASU 2024-03, Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures to improve disclosures about certain types of expenses including purchases of inventory, employee compensation and depreciation, depletion and amortization included in commonly presented captions in the Consolidation Statements of Operations. This guidance is effective for annual periods beginning after  December 15, 2026 and interim periods