Company: TDDWW
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001437749-25-005487
Chunk: 114

Company: TIDEWATER INC
Filing Date: 2025-02-27
Form: 10-K
Item: Item 1A
Chunk 114
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 tax. No shares were repurchased during the year ended December 31, 2022. Please refer to Item 5 of this Form 10-K - Market for Registrant’s Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities for additional information regarding repurchases of our common stock in the fourth quarter of 2024. Also refer to Note (11) - “Stockholders’ Equity” to the accompanying Consolidated Financial Statements.

Dividends 

There were no dividends declared during the years ended December 31, 2024, 2023 and 2022. Please refer to Note (11) - “Stockholders’ Equity” to the accompanying Consolidated Financial Statements.

Operating Activities 

Net cash provided by operating activities for any period will fluctuate according to the level of business activity for the applicable period. Net cash provided by operating activities is as follows:

      (In Thousands) 
      
      Year Ended 

      Year Ended 

      December 31, 2024 

      December 31, 2023 

      Net income 
      
     $
     179,272

     $
     95,621

      Depreciation and amortization 

     156,166

     128,777

      Amortization of deferred drydocking and survey costs 

     86,604

     51,554

      Amortization of debt premiums and discounts 

     6,741

     4,619

      Amortization of below market contracts 

     (5,000
     )

     (3,800
     )

      Deferred income taxes provision (benefit) 

     (2,807
     )

     92

      Gain on asset dispositions, net 

     (15,762
     )

     (8,701
     )

      Gain on pension settlement 

     —

     (2,313
     )

      Stock based compensation expense 

     13,681

     10,755

      Deferred drydocking and survey costs 

     (133,258
     )

     (97,378
     )

      Changes in operating assets and liabilities, net of effects of business acquisition 

     (11,788
     )

     (74,521
     )

      Net cash provided by operating activities 
      
     $
     273,849

     $
     104,705

      61

Net cash provided by operating