Company: TDDWW
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001437749-25-005487
Chunk: 638

Company: TIDEWATER INC
Filing Date: 2025-02-27
Form: 10-K
Item: Item 3
Chunk 638
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 (In Thousands)   and  
   Other Receivables  
 Balance at January 1, 2022  $74,404 
 Current period provision for expected credit losses   414 
 Acquisition of Sonatide joint venture   (59,678)
 Other   (1,080)
 Balance at December 31, 2022  $14,060 
 Current period provision for expected credit losses   3,305 
 Write offs   (1,484)
 Recoveries   490 
 Other   (457)
 Balance at December 31, 2023  $15,914 
 Current period credit for expected credit losses   (1,430)
 Write offs (A)   (10,969)
 Other   (331)
 Balance at December 31, 2024  $3,184 

    (A)  Primarily the write off of the remaining balance due from our Nigerian joint venture. 

   Stock-Based Compensation
    
   Stock-based compensation transactions are accounted for using a fair-value-based method. We use the Black-Scholes option-pricing model to determine the fair-value of stock-based option awards. The fair value of time based stock awards is the stock price on the grant date of the award. We use a Monte Carlo simulation model to determine the fair value of stock-based performance awards that contain market conditions.
    
   Comprehensive Income (Loss)
    
   We report total comprehensive income (loss) and its components. Accumulated other comprehensive income (loss) is comprised of any minimum pension liability for our U.S. Defined Benefits Pension Plans and an unrealized gain (loss) on a note receivable.
    
   Fair Value Measurements 
    
   We follow the provisions of ASC 820, for financial assets and liabilities that are measured and reported at fair value on a recurring basis. ASC 820 establishes a hierarchy for inputs used in measuring fair value. Fair value is calculated based on assumptions that market participants would use in pricing assets and liabilities and not on assumptions specific to the entity. The statement requires that each asset and liability carried at fair value be classified into one of the following categories:
    
   Level 1: Quoted market prices in active markets for identical assets or liabilities 
    
   Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data 
    
   Level 3: Unobservable inputs that are not corroborated by market data