Company: TDDWW
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001437749-25-005487
Chunk: 825

Company: TIDEWATER INC
Filing Date: 2025-02-27
Form: 10-K
Item: Item 5
Chunk 825
---
 for upgrades to our existing fleet and continued enhancements to our current enterprise software system.

Net cash used in investing activities for the year ended December 31, 2023, was $610.3 million, reflecting proceeds of $15.5 million related to the disposal of 15 vessels. Acquisitions included $594.2 million for the purchase of 37 vessels from Solstad. Additions to property and equipment were comprised of $31.6 million, primarily for the down payment on six Alucat crew boats, upgrades to our existing fleet and continued enhancements to our current enterprise software system.

Financing Activities 

Net cash provided by (used in) financing activities is as follows:

      (In Thousands) 
      
      Year Ended 

      Year Ended 

      December 31, 2024 

      December 31, 2023 

      Exercise of warrants 
      
     $
     4

     $
     111,483

      Issuance of long-term debt 

     —

     575,000

      Principal payments on long-term debt 

     (103,030
     )

     (13,677
     )

      Purchase of common stock 

     (90,742
     )

     (35,025
     )

      Acquisition of non-controlling interest in a majority owned subsidiary 

     —

     (1,427
     )

      Debt issuance costs 

     (213
     )

     (14,758
     )

      Tax on share-based awards 

     (28,614
     )

     (6,040
     )

      Net cash provided by (used in) financing activities 
      
     $
     (222,595
     )
      
     $
     615,556

Financing activities for the year ended December 31, 2024, used $222.6 million of cash. We made $103.0 million in principal payments on long-term debt while incurring $0.2 million of debt issuance costs. In addition, we purchased 1,384,186 shares of our common stock for $90.7 million and paid $28.6 million in taxes on share-based awards.

      62

Financing activities for the year ended December 31, 2023, provided $615.6 million of cash. We issued $575.0 million in long-term debt related to our Senior Unsecured Notes and our Senior Secured Term Loan while in