Company: TDDWW
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001437749-25-005487
Chunk: 466

Company: TIDEWATER INC
Filing Date: 2025-02-27
Form: 10-K
Item: Item 1
Chunk 466
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18,289   18,663 
  $60,396  $64,985 

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   (14)     SEGMENT INFORMATION, GEOGRAPHICAL DATA AND MAJOR CUSTOMERS
    
   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 Chief Executive Officer 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 table provides a comparison of revenues, vessel operating profit, depreciation and amortization, additions to properties and equipment and assets by segment and in total. 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.

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     (In Thousands)   Year Ended December 31,  
   2024    2023    2022  
 Americas:             
 Vessel revenues  $261,929  $237,205  $146,871 
             
 Vessel operating costs:             
 Crew costs   87,545   86,328   56,767 
 Repair and maintenance   20,677   17,295   12,706 
 Insurance   2,034   1,891   1,439 
 Fuel, lube and supplies   13,635   13,175   9,655 
 Other   24,391   19,232   13,442 
 Total vessel operating costs   148,282   137,921   94,009 
 General and administrative expense   14,046   15,105   10,926 
 Depreciation and amortization   44,822   41,215   29,920 
 Vessel operating