Company: TDDWW
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001437749-25-034124
Chunk: 20

Company: TIDEWATER INC
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 1
Chunk 20
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      49,498

      53,083

      50,581

      53,154

The accompanying notes are an integral part of these Condensed Consolidated Financial Statements.

       3

TIDEWATER INC.

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

(Unaudited)

(In Thousands)

      Three Months Ended    Nine Months Ended  
   September 30, 2025    September 30, 2024    September 30, 2025    September 30, 2024  
 Net income (loss)  $(1,018) $45,991  $114,004  $142,653 
 Other comprehensive income (loss):                 
 Unrealized gain on note receivable   —   130   —   283 
 Change in liability of pension plans   621   (600)  1,834   (957)
 Total comprehensive income (loss)  $(397) $45,521  $115,838  $141,979 

The accompanying notes are an integral part of these Condensed Consolidated Financial Statements.

       4

TIDEWATER INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

(In Thousands)

       Nine Months 

       Nine Months 

       Ended 

       Ended 

       September 30, 2025 

       September 30, 2024 

       Cash flows from operating activities: 

       Net income 
       
      $
      114,004

      $
      142,653

       Adjustments to reconcile net income to net cash provided by operating activities: 

       Depreciation 

      113,257

      117,430

       Amortization of deferred drydocking and survey costs 

      82,893

      60,720

       Amortization of debt premium and discounts 

      3,931

      5,129

       Amortization of below market contracts 

      (981
      )

      (3,929
      )

       Unrealized foreign exchange (gain) loss 

      (21,076
      )

      2,186

       Deferred income taxes provision (benefit) 

      (11,569
      )

      56

       Gain on asset dispositions, net 

      (8,