10-Q Filing

TIDEWATER INC CIK: 98222 Q3 2017

Filing Information

Form Type	10-Q
Accession Number	`0001564590-17-023130`
Period End Date	20170930
Filing Date	20171109
Fiscal Year	2017
Fiscal Period	Q3
XBRL Instance	tdw-20170930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 37 Income Statement 26 Cash Flow Statement 31 Stockholders Equity 9 Comprehensive Income 8

Balance Sheet 37 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$200.00K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$560.87M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	125.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$459.98M	USD	Point-in-time
Trade and other receivables, less allowance for doubtful accounts of $200 and $16,165 as of September 30, 2017 and March 31, 2017, respectively	`ReceivablesNetCurrent`	$120.27M	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	20.74M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	20.74M	shares	Point-in-time
Due from affiliate	`DueFromAffiliateCurrent`	$245.06M	USD	Point-in-time
Marine operating supplies	`Supplies`	$31.08M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$14.81M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$871.20M	USD	Point-in-time
Investments in, at equity, and advances to unconsolidated companies	`EquityMethodInvestments`	$25.73M	USD	Point-in-time
Net properties and equipment	`PropertyPlantAndEquipmentNet`	$868.69M	USD	Point-in-time
Deferred drydocking and survey costs	`DeferredDrydockingAndSurveyCostsNoncurrent`	$388.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$46.84M	USD	Point-in-time
Total assets	`Assets`	$1.81B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$39.44M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$61.12M	USD	Point-in-time
Due to affiliate	`DueToAffiliateCurrent`	$112.64M	USD	Point-in-time
Accrued property and liability losses	`LiabilityForClaimsAndClaimsExpenseCurrent`	$2.77M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$5.17M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$38.04M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$259.19M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$445.68M	USD	Point-in-time
Accrued property and liability losses	`LiabilityForClaimsAndClaimsExpenseNoncurrent`	$2.61M	USD	Point-in-time
Other liabilities and deferred credits	`OtherLiabilitiesNoncurrent`	$62.57M	USD	Point-in-time
Commitments and Contingencies (Note 10)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, value	`CommonStockValue`	$21.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.06B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$-15.69M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$82.00K	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$1.04B	USD	Point-in-time
Noncontrolling interests	`MinorityInterest`	$1.84M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.06B	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.04B	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$1.81B	USD	Point-in-time

Income Statement 26 line items

Line Item	Tag	Value	Unit	Period
Vessel revenues	`SalesRevenueServicesNet`	$70.57M	USD	1 Quarter
Other operating revenues	`OtherSalesRevenueNet`	$3.73M	USD	1 Quarter
Total revenues	`Revenues`	$74.30M	USD	1 Quarter
Vessel operating costs	`DirectOperatingCosts`	$52.30M	USD	1 Quarter
Costs of other operating revenues	`OtherCostOfOperatingRevenue`	$2.27M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$16.25M	USD	1 Quarter
Vessel operating leases	`OtherCostAndExpenseOperating`	$1.12M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$8.14M	USD	1 Quarter
Gain on asset dispositions, net	`GainLossOnDispositionOfAssets`	$4.00K	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$80.08M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-5.78M	USD	1 Quarter
Foreign exchange loss	`ForeignCurrencyTransactionGainLossBeforeTax`	$-58.00K	USD	1 Quarter
Equity in net earnings of unconsolidated companies	`IncomeLossFromEquityMethodInvestments`	$1.30M	USD	1 Quarter
Interest income and other	`InvestmentIncomeNonoperating`	$873.00K	USD	1 Quarter
Reorganization items	`ReorganizationItems`	$1.88M	USD	1 Quarter
Interest and other debt costs	`InterestAndDebtExpense`	$5.24M	USD	1 Quarter
Total other income (expenses)	`NonoperatingIncomeExpense`	$-5.00M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-10.78M	USD	1 Quarter
Income tax (benefit) expense	`IncomeTaxExpenseBenefit`	$4.75M	USD	1 Quarter
Net loss	`ProfitLoss`	$-15.53M	USD	1 Quarter
Less: Net income (loss) attributable to noncontrolling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$166.00K	USD	1 Quarter
Net loss attributable to Tidewater Inc.	`NetIncomeLoss`	$-15.69M	USD	1 Quarter
Basic loss per common share	`EarningsPerShareBasic`	$-0.81	USD	1 Quarter
Diluted loss per common share	`EarningsPerShareDiluted`	$-0.81	USD	1 Quarter
Weighted average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	19.39M	shares	1 Quarter
Adjusted weighted average common shares	`WeightedAverageNumberOfDilutedSharesOutstanding`	19.39M	shares	1 Quarter

Cash Flow Statement 31 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-15.53M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$8.14M	USD	1 Quarter
Amortization of deferred drydocking and survey costs	`AmortizationOfDeferredDrydockingAndSurveyCosts`	$4.00K	USD	1 Quarter
Amortization of debt premiums and discounts	`AmortizationOfDebtDiscountPremium`	$-281.00K	USD	1 Quarter
Gain on asset dispositions, net	`GainLossOnDispositionOfAssets`	$4.00K	USD	1 Quarter
Equity in earnings of unconsolidated companies, less dividends	`IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions`	$1.04M	USD	1 Quarter
Compensation expense - stock-based	`ShareBasedCompensation`	$1.17M	USD	1 Quarter
Trade and other receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$3.77M	USD	1 Quarter
Changes in due to/from affiliate, net	`IncreaseDecreaseInDueToAffiliates`	$-3.92M	USD	1 Quarter
Marine operating supplies	`IncreaseDecreaseInInventories`	$-1.00M	USD	1 Quarter
Other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-5.71M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-317.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-10.55M	USD	1 Quarter
Accrued property and liability losses	`IncreaseDecreaseInAccruedPropertyAndLiabilityLosses`	$13.00K	USD	1 Quarter
Other current liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$3.75M	USD	1 Quarter
Other liabilities and deferred credits	`IncreaseDecreaseInOtherOperatingLiabilities`	$-847.00K	USD	1 Quarter
Other, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$1.34M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-17.81M	USD	1 Quarter
Proceeds from sales of assets	`ProceedsFromSaleOfProductiveAssets`	$4.88M	USD	1 Quarter
Additions to properties and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$589.00K	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$4.29M	USD	1 Quarter
Cash payments to General Unsecured Creditors	`RepaymentsOfUnsecuredDebt`	$87.37M	USD	1 Quarter
Cash received for issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$1.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-87.36M	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-100.89M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$560.87M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$459.98M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$560.87M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$459.98M	USD	Point-in-time
Interest, net of amounts capitalized	`InterestPaidNet`	$59.00K	USD	1 Quarter
Income taxes	`IncomeTaxesPaid`	$1.39M	USD	1 Quarter

Stockholders Equity 9 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.06B	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.04B	USD	Point-in-time
Issuance of Successor common stock and warrants	`StockAndWarrantsIssuedDuringPeriodValueNewIssues`	$1.06B	USD	1 Quarter
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-15.45M	USD	1 Quarter
Issuance of common stock	`StockIssuedDuringPeriodValueNewIssues`	$2.00K	USD	1 Quarter
Amortization of restricted stock units	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition`	$1.17M	USD	1 Quarter
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.06B	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.04B	USD	Point-in-time
Balance	`MinorityInterest`	$1.84M	USD	Point-in-time

Comprehensive Income 8 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-15.53M	USD	1 Quarter
Unrealized gains (losses) on available-for-sale securities, tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax`	-	USD	1 Quarter
Change in loss on derivative contract, tax	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesTax`	-	USD	1 Quarter
Changes in supplemental executive retirement plan liability, tax	`OtherComprehensiveIncomeSupplementalExecutiveRetirementPlanMinimumLiabilityAdjustmentTaxPeriodIncreaseDecrease`	-	USD	1 Quarter
Unrealized gains on available for sale securities, net of tax of $0, $0 and $0	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$82.00K	USD	1 Quarter
Changes in minimum pension liability, tax	`OtherComprehensiveIncomePensionPlanMinimumLiabilityAdjustmentTaxPeriodIncreaseDecrease`	-	USD	1 Quarter
Change in other benefit plan minimum liability, tax	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax`	-	USD	1 Quarter
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-15.45M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.