Company: TDDWW
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001437749-25-005487
Chunk: 211

Company: TIDEWATER INC
Filing Date: 2025-02-27
Form: 10-K
Item: Item 1B
Chunk 211
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 utilization is calculated on active vessels (which excludes vessels held for sale and stacked vessels). Average day rates are calculated based on total vessel days worked. Vessel operating costs per active days is calculated based on total available days less stacked days. Total vessels in service also includes three vessels not owned by us, that are under bareboat charter agreements. These vessels are included in all of our vessel statistics but are not included in the owned vessel count.

This section of this Form 10-K generally discusses 2024, 2023 and 2022 items and year-to-year comparisons between 2024 and 2023 and between 2023 and 2022. 

The results of operations tables included below for the total company and the individual segments disclose financial results supplemented with vessel utilization and average day rates.

      44

Years Ended December 31, 2024 and 2023

      Year Ended December 31, 

      (In Thousands except for statistics) 
      
      2024 

      2023 

      Change 

      % Change 

      Total revenue 
      
     $
     1,345,835

     $
     1,009,985

     $
     335,850

     33
     %

      Costs and expenses: 

      Vessel operating costs: 

      Crew costs 

     416,276

     329,473

     (86,803
     )

     (26
     )%

      Repair and maintenance 

     98,376

     78,716

     (19,660
     )

     (25
     )%

      Insurance 

     11,027

     9,297

     (1,730
     )

     (19
     )%

      Fuel, lube and supplies 

     65,371

     60,548

     (4,823
     )

     (8
     )%

      Other 

     102,057

     78,481

     (23,576
     )

     (30
     )%

      Total vessel operating costs 

     693,107

     556,515

     (136,592
     )

     (25
     )%

      Costs of other operating revenues 

     3,555

     4,342

     787

     18
     %

      General and administrative 

     110,817

     95,283