Company: TDDWW
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0001437749-25-014565
Chunk: 43

Company: TIDEWATER INC
Filing Date: 2025-05-05
Form: 10-Q
Item: Part I, Item 1
Chunk 43
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 a strengthening/weakening of the U.S. Dollar against the Central African CFA Franc, West African CFA Franc, Norwegian Kroner, Brazilian Real, Angola Kwanza, British Pound and Euro. 

Income tax expense:

      ● 
      We are subject to taxes on our income in many jurisdictions worldwide and our actual tax expense can vary disproportionally to overall net income due to the mix of profits and losses in these foreign tax jurisdictions. Our tax expense for the first quarter of 2025 includes the impact from Pillar Two and taxes on our operations in foreign countries. Tax expense for the fourth quarter of 2024 is mainly attributable to taxes on our operations in foreign countries. 

       28

Segment results for three months ended March 31, 2025 compared to December 31, 2024

Americas Segment Operations. 

      (In Thousands except for statistics) 
      
      Three Months Ended 

      March 31, 2025 

      December 31, 2024 

      Change 

      % Change 

      Total revenue 
      
     $
     54,852

     $
     60,240

     $
     (5,388
     )

     (9
     )%

      Costs and expenses: 

      Vessel operating costs: 

      Crew costs 

     17,440

     18,519

     1,079

     6
     %

      Repair and maintenance 

     4,266

     5,271

     1,005

     19
     %

      Insurance 

     571

     506

     (65
     )

     (13
     )%

      Fuel, lube and supplies 

     2,617

     2,954

     337

     11
     %

      Other 

     10,129

     6,795

     (3,334
     )

     (49
     )%

      Total vessel operating costs 

     35,023

     34,045

     (978
     )

     (3
     )%

      General and administrative 

     3,542

     3,605

     63

     2
     %

      Depreciation and amortization 

     11,392

     11,384

     (8
     )

     (0
     )%

      Vessel operating profit