Company: TDDWW
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001437749-25-034124
Chunk: 39

Company: TIDEWATER INC
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 1
Chunk 39
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 $129,894 

   A summary of other current liabilities is as follows:

     (In Thousands)       
  September 30, 2025  December 31, 2024 
 Taxes payable  $64,725  $48,122 
 Finance lease liability   19,877   — 
 Other   12,560   16,826 
  $97,162  $64,948 

   A summary of other liabilities is as follows:

     (In Thousands)       
  September 30, 2025  December 31, 2024 
 Pension liabilities  $14,687  $17,525 
 Liability for uncertain tax positions   25,107   24,582 
 Other   23,800   18,289 
  $63,594  $60,396 

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    (12)  DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES 

   In the second and third quarter of 2025, we entered into foreign currency contracts to sell Euros at future defined dates and at fixed exchange rates, to limit our exposure to losses related to the revaluation of non-USD cash balances held in certain African currencies that are marked to the Euro. We did not designate these contracts as hedges for accounting purposes.
    
   Derivative instruments are classified as either assets or liabilities based on their individual fair values. The fair value of our derivative instruments was as follows:

     (In Thousands)         
   September 30, 2025    December 31, 2024  
 Euro forward exchange contracts         
 Other current liabilities  $2,621  $— 

   We recognized realized and unrealized (gains) losses on derivative instruments not designated as hedging instruments of ($0.4) million and $2.9 million for the three and nine months ended  September 30, 2025, respectively. We held no derivative instruments during 2024.

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    (13)  SEGMENT AND GEOGRAPHIC DISTRIBUTION OF OPERATIONS 

   Each of our five operating segments is led by senior management reporting to our Chief Executive Officer, the chief operating decision maker (CODM). Our operating segments comprise the structure used by our CODM to make key operating decisions and assess performance.