Company: TDDWW
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0001437749-25-014565
Chunk: 23

Company: TIDEWATER INC
Filing Date: 2025-05-05
Form: 10-Q
Item: Part I, Item 1
Chunk 23
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 assets. At  December 31, 2024, we had $1.1 million and $0.6 million of deferred mobilization costs included with Prepaid expenses and other current assets and Other assets.
    
   At  March 31, 2025, we had $5.4 million of deferred mobilization revenue included within Accrued expenses and $1.1 million of deferred mobilization revenue included in Other liabilities that will be recognized from 2025 through 2027. At  December 31, 2024, we have $9.4 million and $2.1 million of deferred mobilization revenue included within Accrued expenses and Other liabilities.
    
   During the three months ended  March 31, 2025, the amount of revenue recognized that was included in deferred mobilization revenue at the beginning of the period was $7.0 million. The amount of revenue recognized in prior year quarter was immaterial.

       9

       (5) 
       STOCKHOLDERS’ EQUITY AND DILUTIVE EQUITY INSTRUMENTS 

   Earnings per share
    
   For the three months ended  March 31, 2025 and 2024, we reported net income from operations. Our diluted earnings per share for these periods is based on our weighted average common shares outstanding and is computed using the treasury stock method for our outstanding “in-the-money” warrants and restricted stock units.
    
   Accumulated Other Comprehensive Income
    
   The following tables present the changes in accumulated other comprehensive income (OCI) by component, net of tax:

        (In Thousands) 
        
        Three Months Ended 

       March 31, 2025

       March 31, 2024

        Balance at December 31, 2024 and 2023 
        
       $
       6,060

       $
       5,266

        Unrealized gain on note receivable 

       —

       80

        Pension benefits recognized in OCI 

       547

       (137
       )

        Balance at March 31, 2025 and 2024 
        
       $
       6,607

       $
       5,209

   Dilutive Equity Instruments
    
   The following table presents the changes in the number of common shares, incremental “in-the-money” warrants and restricted stock units