Company: TDDWW
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0001437749-25-014565
Chunk: 20

Company: TIDEWATER INC
Filing Date: 2025-05-05
Form: 10-Q
Item: Part I, Item 1
Chunk 20
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 income  6,607   6,060 
 Total stockholders’ equity  1,113,624   1,114,111 
 Noncontrolling interests  (3,259)  (2,926)
 Total equity  1,110,365   1,111,185 
 Total liabilities and equity $2,066,166  $2,074,904 

The accompanying notes are an integral part of these Condensed Consolidated Financial Statements.

       2

TIDEWATER INC.

CONDENSED CONSOLIDATED INCOME STATEMENTS

(Unaudited)

(In Thousands, except per share data)

       Three Months Ended 

       March 31, 2025 

       March 31, 2024 

       Revenues: 

       Vessel revenues 
       
      $
      330,699

      $
      318,686

       Other operating revenues 

      2,745

      2,478

       Total revenue 

      333,444

      321,164

       Costs and expenses: 

       Vessel operating costs 

      164,979

      167,556

       Costs of other operating revenues 

      1,430

      1,150

       General and administrative 

      29,094

      25,329

       Depreciation and amortization 

      65,432

      56,270

       Gain on asset dispositions, net 

      (2,538
      )

      (11,039
      )

       Total costs and expenses 

      258,397

      239,266

       Operating income 

      75,047

      81,898

       Other income (expense): 

       Foreign exchange gain (loss) 

      7,569

      (4,085
      )

       Equity in net losses of unconsolidated companies 

      —

      (5
      )

       Interest income and other, net 

      2,157

      1,483

       Interest and other debt costs, net 

      (16,344
      )

      (19,476
      )

       Total other expense 

      (6,618
      )

      (22,083
      )

       Income before income taxes 

      68,429

      59,815

       Income tax expense 

      26,109

      13,070

       Net income