Company: TDDWW
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001437749-25-005487
Chunk: 393

Company: TIDEWATER INC
Filing Date: 2025-02-27
Form: 10-K
Item: Item 1
Chunk 393
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     %

     1,065

     1
     %

     1,840

     2
     %

      Total vessel operations 

     56,131

     51
     %

     51,850

     54
     %

     51,114

     50
     %

      Corporate: 

      Continuing operations 

     54,609

     49
     %

     43,408

     46
     %

     50,622

     50
     %

      Restructuring charges (A) 

     77

     0
     %

     25

     0
     %

     185

     0
     %

      Total corporate 

     54,686

     49
     %

     43,433

     46
     %

     50,807

     50
     %

      Total 
      
     $
     110,817

     100
     %
      
     $
     95,283

     100
     %
      
     $
     101,921

     100
     %

      (A) 
      Restructuring charges for the years ended December 31, 2024, 2023 and 2022 include $0.7 million, $1.1 million and $2.0 million, respectively, of severance and termination benefits. 

General and administrative expenses for the year ended December 31, 2024 increased compared to the year ended December 31, 2023 primarily because of higher compensation costs and professional fees. General and administrative expenses for the year ended December 31, 2023 decreased compared to the year ended December 31, 2022 primarily due to lower office and property costs and one time transaction costs resulting from the SPO Acquisition.

Liquidity, Capital Resources and Other Matters

As of December 31, 2024, we had $329.0 million in cash and cash equivalents, which includes restricted cash and amounts held by foreign subsidiaries, the majority of which is available to us without adverse tax consequences. Included in foreign subsidiary cash are balances held in U.S. dollars and foreign currencies that await repatriation due to various currency conversion and repatriation constraints, partner and tax related matters. We currently expect earnings by our foreign subsidiaries will be indefinitely reinvested in foreign jurisdictions to fund strategic initiatives