Company: TDDWW
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0001437749-25-014565
Chunk: 27

Company: TIDEWATER INC
Filing Date: 2025-05-05
Form: 10-Q
Item: Part I, Item 1
Chunk 27
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 (In Thousands)   Three Months Ended  
   March 31, 2025    March 31, 2024  
 Pension Benefits:         
 Interest cost  $618  $630 
 Expected return on plan assets   (458)  (445)
 Amortization of net actuarial gains   (55)  (30)
 Net periodic pension cost  $105  $155 

   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)         
   March 31, 2025    December 31, 2024  
 Senior bonds:         
 Senior Secured Term Loan (A)  $200,000  $212,500 
 10.375% Senior Unsecured Notes due July 2028 (B)   250,000   250,000 
 8.50% Senior Secured Notes due November 2026 (C) (D)   175,000   175,000 
 Vessel Facility Agreements   20,985   10,387 
  $645,985  $647,887 
 Debt discount and issuance costs   (9,949)  (10,791)
 Less: Current portion of long-term debt   (80,042)  (65,386)
 Total long-term debt  $555,994  $571,710 

       (A)  As of  March 31, 2025 and  December 31, 2024, the fair value (Level 3) of the Senior Secured Term Loan was $205.4 million and $218.2 million, respectively. The Level 3 fair value is derived from discounted present value calculations. 
    (B)  As of  March 31, 2025 and  December 31, 2024, the fair value (Level 1) of the 10.375% Senior Unsecured Notes due  July 2028 was $267.5 million and $266.1 million, respectively. The fair value is obtained from public transaction activity on the Nordic ABM exchange (XOAM).  
 (C)As of