Company: TDDWW
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001437749-25-005487
Chunk: 1183

Company: TIDEWATER INC
Filing Date: 2025-02-27
Form: 10-K
Item: Item 6
Chunk 1183
---
, training costs, agent fees, port fees, canal transit fees, temporary importation fees, vessel certification fees, and satellite communication fees. Repair and maintenance costs include both routine costs and major repairs carried out during drydockings, which occur during the economic useful life of the vessel. Vessel operating costs, excluding drydocking cost, are recognized as incurred.
    
   Foreign Currency Translation 
    
   The U.S. dollar is the functional currency for all our existing international operations, as transactions in these operations are predominately denominated in U.S. dollars. Foreign currency exchange gains and losses from the revaluation of our foreign currency denominated monetary assets and liabilities are included in the consolidated statements of operations.
    
   Earnings Per Share
    
   We report both basic earnings (loss) per share and diluted earnings (loss) per share. The calculation of basic earnings (loss) per share is computed based on the weighted average number of shares of common stock outstanding. Diluted earnings (loss) per share is computed based on the weighted average number of shares of common stock plus the effect of dilutive potential common shares outstanding during the period using the treasury stock method. Diluted earnings (loss) per share includes the dilutive effect of stock options and restricted stock grants (both time and performance based) awarded as part of our share-based compensation and incentive plans as well as our outstanding warrants. Per share amounts disclosed in these Notes to Consolidated Financial Statements, unless otherwise indicated, are on a diluted basis.
    
   The components of basic and diluted earnings (loss) per share, are as follows:

     (In Thousands, except per share data)   Year Ended December 31,  
  2024  2023  2022 
 Net income (loss) available to common stockholders  $180,656  $97,185  $(21,749)
 Weighted average outstanding shares of common stock, basic   52,452   51,591   44,132 
 Dilutive effect of options, warrants and stock awards   619   1,346   — 
 Weighted average common stock and equivalents   53,071   52,937   44,132 
             
 Income (loss) per share, basic  $3.44  $1.88  $(0.49)
 Income (loss) per share, diluted  $3.40  $1.84