Company: TDDWW
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0001437749-25-014565
Chunk: 19

Company: TIDEWATER INC
Filing Date: 2025-05-05
Form: 10-Q
Item: Part I, Item 1
Chunk 19
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TIDEWATER INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited)

(In Thousands, except share and par value data)

     March 31, 2025    December 31, 2024  
 ASSETS        
 Current assets:        
 Cash and cash equivalents $341,799  $324,918 
 Restricted cash  5,234   2,032 
 Trade and other receivables, net of allowance for credit losses of $3,144 and $3,184 at March 31, 2025 and December 31, 2024, respectively  312,904   323,805 
 Marine operating supplies  23,101   34,319 
 Prepaid expenses and other current assets  15,160   13,588 
 Total current assets  698,198   698,662 
 Net properties and equipment  1,163,758   1,184,282 
 Deferred drydocking and survey costs  169,326   152,550 
 Indemnification assets  11,114   11,946 
 Other assets  23,770   27,464 
 Total assets $2,066,166  $2,074,904 
        
 LIABILITIES AND EQUITY        
 Current liabilities:        
 Accounts payable $50,203  $71,385 
 Accrued expenses  133,000   129,894 
 Current portion of long-term debt  80,042   65,386 
 Other current liabilities  74,299   64,948 
 Total current liabilities  337,544   331,613 
 Long-term debt  555,994   571,710 
 Other liabilities  62,263   60,396 
        
 Commitments and contingencies          
        
 Equity:        
 Common stock of $0.001 par value, 125,000,000 shares authorized, 50,852,297 and 51,461,472 shares issued and outstanding at March 31, 2025 and December 31, 2024, respectively  51   52 
 Additional paid-in capital  1,652,856   1,656,830 
 Accumulated deficit  (545,890)  (548,831)
 Accumulated other comprehensive