Company: TDDWW
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0001437749-25-024640
Chunk: 43

Company: TIDEWATER INC
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 1
Chunk 43
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 follows:

     (In Thousands)         
   June 30, 2025    December 31, 2024  
 Payroll and related payables  $42,850  $43,256 
 Accrued vessel expenses   49,117   42,762 
 Accrued interest expense   16,974   16,727 
 Other accrued expenses   22,364   27,149 
  $131,305  $129,894 

   A summary of other current liabilities is as follows:

     (In Thousands)       
  June 30, 2025  December 31, 2024 
 Taxes payable  $55,906  $48,122 
 Other   13,782   16,826 
  $69,688  $64,948 

   A summary of other liabilities is as follows:

     (In Thousands)       
  June 30, 2025  December 31, 2024 
 Pension liabilities  $15,906  $17,525 
 Liability for uncertain tax positions   23,362   24,582 
 Other   23,929   18,289 
  $63,197  $60,396 

       18

    (12)  DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES 

   In the second quarter of 2025, we entered into several forward foreign currency contracts to sell Euros at future defined dates and at fixed exchange rates, to limit our exposure to losses related to cash balances held in certain African currencies that are marked to the Euro. We did not designate these contracts as hedges for accounting purposes.
    
   Derivative instruments are classified as either assets or liabilities based on their individual fair values. The fair value of our derivative instruments was as follows:

     (In Thousands)   Three Months Ended    Six Months Ended  
   June 30, 2025    June 30, 2024    June 30, 2025    June 30, 2024  
 Euro forward exchange contracts                 
 Other current liabilities  $3,358  $—  $3,358  $— 

   We recognized unrealized losses on derivative instruments not designated as hedging instruments of $3