Company: TDDWW
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001437749-25-034124
Chunk: 55

Company: TIDEWATER INC
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 1
Chunk 55
---
ing of the U.S. Dollar against the Central African CFA Franc, West African CFA Franc, Norwegian Kroner, Brazilian Real, Angola Kwanza, British Pound and Euro. 

Income tax expense:

      ● 
      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 2025 includes the impact from Pillar Two and taxes on our operations in foreign countries. Tax expense for 2024 is mainly attributable to taxes on our operations in foreign countries. During 2025, we released valuation allowance in the U.S. on net operating losses. 

       37

Segment results for nine months ended September 30, 2025 compared to September 30, 2024

Americas Segment Operations. 

      (In Thousands except for statistics) 
      
      Nine Months Ended 

      September 30, 2025 

      September 30, 2024 

      Change 

      % Change 

      Total revenue 
      
     $
     200,523

     $
     201,689

     $
     (1,166
     )

     (1
     )%

      Costs and expenses: 

      Vessel operating costs: 

      Crew costs 

     59,726

     69,026

     9,300

     13
     %

      Repair and maintenance 

     14,446

     15,406

     960

     6
     %

      Insurance 

     1,492

     1,528

     36

     2
     %

      Fuel, lube and supplies 

     7,296

     10,681

     3,385

     32
     %

      Other 

     20,692

     17,596

     (3,096
     )

     (18
     )%

      Total vessel operating costs 

     103,652

     114,237

     10,585

     9
     %

      General and administrative 

     11,047

     10,441

     (606
     )

     (6
     )%

      Depreciation and amortization 

     36,033

     33,438

     (2,595
     )

     (8