Company: TDDWW
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001437749-25-005487
Chunk: 447

Company: TIDEWATER INC
Filing Date: 2025-02-27
Form: 10-K
Item: Item 1
Chunk 447
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 the largest amount of tax benefit that is more than 50 percent likely to be realized upon ultimate settlement with the related tax authority. The recognition and measurement of tax liabilities for uncertain tax positions in any tax jurisdiction requires the interpretation of the related tax laws and regulations as well as the use of estimates and assumptions regarding significant future events. Changes in tax laws, regulations, agreements and treaties, foreign currency exchange restrictions or our level of operations or profitability in each taxing jurisdiction could have an impact on the amount of income taxes during any given year.
    
   Our balance sheet reflects the following in accordance with ASC 740:

     (In Thousands)   December 31,    December 31,  
   2024    2023  
 Tax liabilities for uncertain tax positions  $24,582  $27,319 
 Income tax payable   30,069   30,909 
 Income tax receivable   5,396   3,354 

   Included in the liability balances for uncertain tax positions above for the periods ending  December 31, 2024 and 2023, are $9.4 million and $13.6 million of penalties and interest, respectively. Penalties and interest related to income tax liabilities are included in income tax expense. Income tax payable is included in other current liabilities.

       95

   A reconciliation of the beginning and ending amount of all unrecognized tax benefits, and the liability for uncertain tax positions (but excluding related penalties and interest) are as follows:

     (In Thousands)     
     
 Balance at December 31, 2021  $333,653 
 Additions based on tax positions related to the current year   744 
 Additions based on tax positions related to a prior year   10,155 
 Settlement and lapse of statute of limitations   (167,170)
 Balance at December 31, 2022 (A)  $177,382 
 Additions based on tax positions related to the current year   212 
 Additions based on tax positions related to a prior year   1,869 
 Settlement and lapse of statute of limitations   (165,065)
 Reductions based on tax positions related to a prior year   (712)
 Balance at December 31, 2023  $13,686 
 Additions based on tax positions related to the current year   5,909 
 Additions based on tax positions related to a prior year