Company: TDDWW
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001437749-25-005487
Chunk: 1147

Company: TIDEWATER INC
Filing Date: 2025-02-27
Form: 10-K
Item: Item 6
Chunk 1147
---
 SPO closing date through the date of the SPO agreement amendment. 

Foreign exchange losses:

      o 
     In 2023 and 2022, our foreign exchange losses were primarily the result of the settlement and revaluation of various foreign currency balances due to a strengthening of the U.S. Dollar against the Norwegian Kroner, Brazilian Real, Angola Kwanza, British Pound and Euro.

Income tax expense:

      o 
     We are subject to taxes on our income in many jurisdictions worldwide and our actual tax expense can vary disproportionally to overall net income due to the mix of profits and losses in these foreign tax jurisdictions. Our tax expense for 2023 and 2022 is mainly attributable to taxes on our operations in foreign countries.

      53

Americas Segment Operations. 

      Year Ended December 31, 

      (In Thousands except for statistics) 
      
      2023 

      2022 

      Change 

      % Change 

      Vessel revenues 
      
     $
     237,205

     $
     146,871

     $
     90,334

     62
     %

      Vessel operating costs: 

      Crew costs 

     86,328

     56,767

     (29,561
     )

     (52
     )%

      Repair and maintenance 

     17,295

     12,706

     (4,589
     )

     (36
     )%

      Insurance 

     1,891

     1,439

     (452
     )

     (31
     )%

      Fuel, lube and supplies 

     13,175

     9,655

     (3,520
     )

     (36
     )%

      Other 

     19,232

     13,442

     (5,790
     )

     (43
     )%

      Total vessel operating costs 

     137,921

     94,009

     (43,912
     )

     (47
     )%

      General and administrative expense 

     15,105

     10,926

     (4,179
     )

     (38
     )%

      Depreciation and amortization 

     41,215

     29,920

     (11,295
     )

     (38
     )%

      Vessel operating profit (loss)