Company: TDDWW
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001437749-25-005487
Chunk: 256

Company: TIDEWATER INC
Filing Date: 2025-02-27
Form: 10-K
Item: Item 1B
Chunk 256
---
 to have a material adverse impact on our financial position, results of operations, or cash flows. Expected credit losses are recognized on the initial recognition of our trade accounts receivable. In each subsequent reporting period, even if a loss has not yet been incurred, credit losses are recognized based on the history of credit losses and current conditions, as well as reasonable and supportable forecasts affecting collectability. We developed an expected credit loss model applicable to our trade accounts receivable and contract assets that considers our historical performance and the economic environment, as well as the credit risk and its expected development for each group of customers that share similar risk characteristics. It is our practice to write off receivables when all legal options for collection have been exhausted.
    
   Activity in the allowance for credit losses for the three years ended  December 31, 2024 is as follows:

       Trade  
 (In Thousands)   and  
   Other Receivables  
 Balance at January 1, 2022  $74,404 
 Current period provision for expected credit losses   414 
 Acquisition of Sonatide joint venture   (59,678)
 Other   (1,080)
 Balance at December 31, 2022  $14,060 
 Current period provision for expected credit losses   3,305 
 Write offs   (1,484)
 Recoveries   490 
 Other   (457)
 Balance at December 31, 2023  $15,914 
 Current period credit for expected credit losses   (1,430)
 Write offs (A)   (10,969)
 Other   (331)
 Balance at December 31, 2024  $3,184 

    (A)  Primarily the write off of the remaining balance due from our Nigerian joint venture. 

   Stock-Based Compensation
    
   Stock-based compensation transactions are accounted for using a fair-value-based method. We use the Black-Scholes option-pricing model to determine the fair-value of stock-based option awards. The fair value of time based stock awards is the stock price on the grant date of the award. We use a Monte Carlo simulation model to determine the fair value of stock-based performance awards that contain market conditions.
    
   Comprehensive Income (Loss)
    
   We report total comprehensive income (loss) and its components. Accumulated other comprehensive income (loss) is comprised of any minimum pension liability for our U.S. Defined