Company: TDDWW
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001437749-25-005487
Chunk: 766

Company: TIDEWATER INC
Filing Date: 2025-02-27
Form: 10-K
Item: Item 4
Chunk 766
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31, 2024    December 31, 2023  
 Assets:          
 Operating  Other assets  $11,152  $7,212 
 Liabilities:          
 Current          
 Operating  Other current liabilities   4,904   1,793 
 Noncurrent          
 Operating  Other liabilities   5,914   5,302 
 Total lease liabilities  $10,818  $7,095 

   Future payments to be made on our operating lease liabilities at  December 31, 2024 will be as follows.

     Maturity of lease liabilities (In Thousands)   Operating leases  
 2025  $5,846 
 2026   1,898 
 2027   1,352 
 2028   987 
 2029   686 
 After 2029   1,606 
 Total lease payments   12,375 
 Less: Interest   (1,557)
 Present value of lease liabilities  $10,818 

   As most of our leases do not provide an implicit interest rate, we use our incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments.
    
   Lease costs included in general and administrative expense for the years ended  December 31, 2024, 2023 and 2022, respectively, are as follows.

     (In Thousands)   Year Ended  Year Ended  Year Ended 
 Lease costs  Classification   December 31, 2024    December 31, 2023    December 31, 2022  
 Operating lease costs  General and administrative  $1,699  $1,798  $1,485 
 Short-term leases  General and administrative   2,587   2,496   3,088 
 Variable lease costs  General and administrative   381   648   494 
 Net lease cost   $4,667  $4,942  $5,067 

       97

   Our weighted average remaining lease term and weighted average discount rate at  December 31, 2024 is as follows.

     Lease term and discount rate   December 31, 2024  
 Weighted average remaining lease term in years   2.0 
 Weighted average discount rate   7.69%

   The