Company: TDDWW
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001437749-25-005487
Chunk: 551

Company: TIDEWATER INC
Filing Date: 2025-02-27
Form: 10-K
Item: Item 2
Chunk 551
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831   (390)  453 
 Foreign taxes   52,842   36,339   27,945 
 Net GILTI Inclusion   22,249   2,705   — 
 Return to accrual   4,500   (8,079)  (12,162)
 Restructuring   —   13,896   — 
 Share based compensation   (13,177)  (1,470)  — 
 162(m) - Executive compensation   11,995   2,107   552 
 Subpart F income   3,700   6,664   3,495 
 Other, net   121   (559)  (1,084)
  $50,216  $43,308  $19,886 

    (A)  The above table reflects the net impact of changes to uncertain tax benefits and valuation allowance. Reductions in unrecognized tax benefits due to lapse of statute of limitations has been fully offset with an increase to valuation allowance. 

       93

   The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities are as follows:

     (In Thousands)   December 31,    December 31,  
   2024    2023  
 Deferred tax assets:         
 Accrued employee benefit plan costs  $7,673  $6,678 
 Stock based compensation   3,178   1,838 
 Net operating losses   134,280   183,004 
 Tax credit carryforwards   413,873   413,089 
 Disallowed business interest expense carryforward   15,556   14,764 
 Capital loss carryforward   5,261   5,607 
 Other   4,273   7,195 
 Gross deferred tax assets   584,094   632,175 
 Less valuation allowance   (532,994)  (591,720)
 Net deferred tax assets   51,100   40,455 
 Deferred tax liabilities:         
 Depreciation and amortization   (45,856)  (40,294)
 Outside basis difference deferred tax liability   (2,891)  (2,891)
 Foreign interest withholding tax   (1,512