Company: TDDWW
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0001437749-25-024640
Chunk: 44

Company: TIDEWATER INC
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 1
Chunk 44
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.4 million for the three and six months ended  June 30, 2025. We held no derivative instruments during 2024.

       19

    (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. Discrete financial information is available for each of the segments, and our CODM uses the results of each of the operating segments for resource allocation and performance evaluation. Our CODM evaluates the segments’ operating performance based on segment operating income. Segment operating income is defined as segment revenues less segment costs and expenses. The CODM primarily considers segment operating income for evaluating performance of each segment and making decisions about allocating capital and other resources to each segment.
    
   The following tables provide a comparison of revenues, vessel operating profit, depreciation and amortization, additions to properties and equipment and assets by segment and in total for the three and six months ended  June 30, 2025 and 2024. Vessel operating profit is calculated as vessel revenues less vessel operating costs, segment depreciation expenses, and segment general and administrative costs. Vessel revenues and operating costs relate to our owned and operated vessels while other operating revenues relate to the activities of our other miscellaneous marine-related businesses.

     (In Thousands)   Three Months Ended    Six Months Ended  
   June 30, 2025    June 30, 2024    June 30, 2025    June 30, 2024  
 Americas:                 
 Vessel revenues  $68,758  $73,142  $123,610  $137,083 
                 
 Vessel operating costs:                 
 Crew costs   19,652   23,318   37,092   47,380 
 Repair and maintenance   4,830   5,645   9,096   10,179 
 Insurance   351   463   922   957 
 Fuel, lube and supplies   2,215   2,994   4,832   7,516 
 Other   5,965   5,747   16,094   11,675 
 Total vessel operating