Company: TDDWW
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001437749-25-005487
Chunk: 295

Company: TIDEWATER INC
Filing Date: 2025-02-27
Form: 10-K
Item: Item 1B
Chunk 295
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086 SPO Acquisition Warrants that we subsequently cancelled. No SPO Acquisition Warrants are outstanding.
    
   Accumulated Other Comprehensive Income (Loss)
    
   The changes in accumulated other comprehensive income (loss) by component, net of tax, are as follows:

     (In Thousands)  Year Ended December 31, 
  2024  2023  2022 
 Balance at December 31  $5,266  $8,576  $2,668 
 Unrealized gain (loss) on note receivable   283   213   (496)
 Pension benefits recognized in OCI   511   (3,523)  6,404 
 Balance at December 31  $6,060  $5,266  $8,576 

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   (12)     COMMITMENTS AND CONTINGENCIES 
    
   Currency Devaluation and Fluctuation Risk 
    
   Due to our international operations, we are exposed to foreign currency exchange rate fluctuations and exchange rate risks on all charter hire contracts denominated in foreign currencies. For some of our international contracts, a portion of the revenue and local expenses are incurred in local currencies with the result that we are at risk of changes in the exchange rates between the U.S. dollar and foreign currencies. We generally do not hedge against any foreign currency rate fluctuations associated with foreign currency contracts that arise in the normal course of business, which exposes us to the risk of exchange rate losses. To minimize the financial impact of these items, we attempt to contract a significant majority of our services in U.S. dollars. In addition, we attempt to minimize the financial impact of these risks by matching the currency of the company’s operating costs with the currency of the revenue streams when considered appropriate. We continually monitor the currency exchange risks associated with all contracts not denominated in U.S. dollars.
    
   Legal Proceedings 
    
   We are named defendants or parties in certain lawsuits, claims or proceedings incidental to or arising in the ordinary course of business. Although the outcome of such lawsuits or other proceedings cannot be predicted with certainty and the amount of any liability that could arise with respect to such lawsuits or other proceedings cannot be predicted accurately, we do not expect these matters to have a material adverse effect on our financial position, operating results and cash flows.

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    (13)  ACCRUED EXPENSES, OTHER CURRENT LIABILITIES, AND OTHER