Company: TDDWW
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001437749-25-005487
Chunk: 952

Company: TIDEWATER INC
Filing Date: 2025-02-27
Form: 10-K
Item: Item 7A
Chunk 952
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2024    2023  
 Tax liabilities for uncertain tax positions  $24,582  $27,319 
 Income tax payable   30,069   30,909 
 Income tax receivable   5,396   3,354 

   Included in the liability balances for uncertain tax positions above for the periods ending  December 31, 2024 and 2023, are $9.4 million and $13.6 million of penalties and interest, respectively. Penalties and interest related to income tax liabilities are included in income tax expense. Income tax payable is included in other current liabilities.

       95

   A reconciliation of the beginning and ending amount of all unrecognized tax benefits, and the liability for uncertain tax positions (but excluding related penalties and interest) are as follows:

     (In Thousands)     
     
 Balance at December 31, 2021  $333,653 
 Additions based on tax positions related to the current year   744 
 Additions based on tax positions related to a prior year   10,155 
 Settlement and lapse of statute of limitations   (167,170)
 Balance at December 31, 2022 (A)  $177,382 
 Additions based on tax positions related to the current year   212 
 Additions based on tax positions related to a prior year   1,869 
 Settlement and lapse of statute of limitations   (165,065)
 Reductions based on tax positions related to a prior year   (712)
 Balance at December 31, 2023  $13,686 
 Additions based on tax positions related to the current year   5,909 
 Additions based on tax positions related to a prior year   53 
 Settlement and lapse of statute of limitations   (3,551)
 Reductions based on tax positions related to a prior year   (889)
 Balance at December 31, 2024  $15,208 

     (A)  The gross balance reported as uncertain tax positions is largely offset by $157.7 million of foreign tax credits and other tax attributes. 

   It is reasonably possible that a decrease of $5.8 million in unrecognized tax benefits  may be necessary within the coming year due to the lapse of statutes of limitations or audit settlements.
    
   The amount of unrecognized tax benefits that, if recognized for tax purposes, would affect the