Company: TDDWW
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001437749-25-005487
Chunk: 1066

Company: TIDEWATER INC
Filing Date: 2025-02-27
Form: 10-K
Item: Item 7
Chunk 1066
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   Plan Assets and Obligations 
    
   Changes in combined plan assets and obligations and the funded status of the U.S. defined benefit pension plan and the supplemental plan (Pension Benefits), are as follows:

     (In Thousands)   Year Ended December 31,  
  2024  2023  2022 
 Change in benefit obligation:             
 Benefit obligation at beginning of the period  $50,097  $64,273  $84,308 
 Interest cost   2,572   2,873   2,313 
 Benefits paid   (4,371)  (5,104)  (5,667)
 Actuarial (gain) loss (A)   (250)  1,916   (16,681)
 Settlement   —   (13,861)  — 
 Benefit obligation at end of the period  $48,048  $50,097  $64,273 
 Change in plan assets:             
 Fair value of plan assets at beginning of the period  $30,843  $45,378  $56,779 
 Actual return   2,184   2,827   (7,337)
 Employer contributions   1,599   1,603   1,603 
 Benefits paid   (4,371)  (5,104)  (5,667)
 Settlement   —   (13,861)  — 
 Fair value of plan assets at end of the period   30,255   30,843   45,378 
 Unfunded status at end of the period  $(17,793) $(19,254) $(18,895)
 Net amount recognized in the balance sheet consists of:             
 Current liabilities  $(1,567) $(1,572) $(1,575)
 Noncurrent liabilities   (16,226)  (17,682)  (17,320)
 Net amount recognized  $(17,793) $(19,254) $(18,895)

         (A) The change in the actuarial (gain) loss for the three years ended  December 31, 2024 was primarily attributable to changes in the discount rate. 

   The following table provides combined information