10-KT Filing

TIDEWATER INC CIK: 98222 FY 2017

Filing Information

Form Type	10-KT
Accession Number	`0001564590-18-005788`
Period End Date	20171231
Filing Date	20180315
Fiscal Year	2017
Fiscal Period	FY
XBRL Instance	tdw-20171231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 37 Income Statement 38 Cash Flow Statement 34 Stockholders Equity 9 Comprehensive Income 11

Balance Sheet 37 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.80M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	125.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$432.04M	USD	Point-in-time
Restricted cash	`RestrictedCashCurrent`	$21.30M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	22.12M	shares	Point-in-time
Trade and other receivables, less allowance for doubtful accounts of $1,800 and $16,165 as of December 31, 2017 and March 31, 2017, respectively	`ReceivablesNetCurrent`	$114.18M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	22.12M	shares	Point-in-time
Due from affiliate	`DueFromAffiliateCurrent`	$230.31M	USD	Point-in-time
Marine operating supplies	`Supplies`	$28.22M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$19.13M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$845.18M	USD	Point-in-time
Investments in, at equity, and advances to unconsolidated companies	`EquityMethodInvestments`	$29.22M	USD	Point-in-time
Net properties and equipment	`PropertyPlantAndEquipmentNet`	$837.52M	USD	Point-in-time
Deferred drydocking and survey costs	`DeferredDrydockingAndSurveyCostsNoncurrent`	$3.21M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$31.05M	USD	Point-in-time
Total assets	`Assets`	$1.75B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$38.50M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$54.81M	USD	Point-in-time
Due to affiliate	`DueToAffiliateCurrent`	$99.45M	USD	Point-in-time
Accrued property and liability losses	`LiabilityForClaimsAndClaimsExpenseCurrent`	$2.58M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$5.10M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$19.69M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$220.13M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$443.06M	USD	Point-in-time
Accrued property and liability losses	`LiabilityForClaimsAndClaimsExpenseNoncurrent`	$2.47M	USD	Point-in-time
Other liabilities and deferred credits	`OtherLiabilitiesNoncurrent`	$58.58M	USD	Point-in-time
Commitments and Contingencies (Note (14))	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, value	`CommonStockValue`	$22.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.06B	USD	Point-in-time
Retained (deficit) earnings	`RetainedEarningsAccumulatedDeficit`	$-39.27M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-147.00K	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$1.02B	USD	Point-in-time
Noncontrolling interests	`MinorityInterest`	$2.21M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.06B	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.02B	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$1.75B	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Vessel revenues	`SalesRevenueServicesNet`	$171.88M	USD	2 Qtrs
Other operating revenues	`OtherSalesRevenueNet`	$6.87M	USD	2 Qtrs
Total revenues	`Revenues`	$74.30M	USD	1 Quarter
Total revenues	`Revenues`	$104.45M	USD	1 Quarter
Total revenues	`Revenues`	$178.75M	USD	2 Qtrs
Vessel operating costs	`DirectOperatingCosts`	$120.50M	USD	2 Qtrs
Costs of other operating revenues	`OtherCostOfOperatingRevenue`	$3.79M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$46.62M	USD	2 Qtrs
Vessel operating leases	`OtherCostAndExpenseOperating`	$1.22M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$20.34M	USD	2 Qtrs
Gain on asset dispositions, net	`GainLossOnDispositionOfAssets`	$6.62M	USD	2 Qtrs
Asset impairments	`AssetImpairmentCharges`	$16.78M	USD	1 Quarter
Asset impairments	`AssetImpairmentCharges`	$16.78M	USD	2 Qtrs
Total costs and expenses	`CostsAndExpenses`	$202.63M	USD	2 Qtrs
Operating loss	`OperatingIncomeLoss`	$-5.78M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-18.09M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-23.87M	USD	2 Qtrs
Foreign exchange loss	`ForeignCurrencyTransactionGainLossBeforeTax`	$-407.00K	USD	2 Qtrs
Equity in net earnings of unconsolidated companies	`IncomeLossFromEquityMethodInvestments`	$2.13M	USD	2 Qtrs
Interest income and other, net	`InvestmentIncomeNonoperating`	$2.77M	USD	2 Qtrs
Reorganization items	`ReorganizationItems`	$4.30M	USD	2 Qtrs
Interest and other debt costs, net	`InterestAndDebtExpense`	$13.01M	USD	2 Qtrs
Total other income (expenses)	`NonoperatingIncomeExpense`	$-12.81M	USD	2 Qtrs
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-36.69M	USD	2 Qtrs
Income tax (benefit) expense	`IncomeTaxExpenseBenefit`	$2.04M	USD	2 Qtrs
Net loss	`ProfitLoss`	$-38.73M	USD	2 Qtrs
Less: Net income attributable to noncontrolling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$540.00K	USD	2 Qtrs
Net loss attributable to Tidewater Inc.	`NetIncomeLoss`	$-15.69M	USD	1 Quarter
Net loss attributable to Tidewater Inc.	`NetIncomeLoss`	$-39.27M	USD	2 Qtrs
Net loss attributable to Tidewater Inc.	`NetIncomeLoss`	$-23.57M	USD	1 Quarter
Basic loss per common share	`EarningsPerShareBasic`	$-0.81	USD	1 Quarter
Basic loss per common share	`EarningsPerShareBasic`	$-1.82	USD	2 Qtrs
Basic loss per common share	`EarningsPerShareBasic`	$-1.02	USD	1 Quarter
Diluted loss per common share	`EarningsPerShareDiluted`	$-1.82	USD	2 Qtrs
Diluted loss per common share	`EarningsPerShareDiluted`	$-0.81	USD	1 Quarter
Diluted loss per common share	`EarningsPerShareDiluted`	$-1.02	USD	1 Quarter
Weighted average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	21.54M	shares	2 Qtrs
Adjusted weighted average common shares	`WeightedAverageNumberOfDilutedSharesOutstanding`	21.54M	shares	2 Qtrs

Cash Flow Statement 34 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-38.73M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$20.13M	USD	2 Qtrs
Amortization of deferred drydocking and survey costs	`AmortizationOfDeferredDrydockingAndSurveyCosts`	$206.00K	USD	2 Qtrs
Amortization of debt premiums and discounts	`AmortizationOfDebtDiscountPremium`	$-715.00K	USD	2 Qtrs
Gain on asset dispositions, net	`GainLossOnDispositionOfAssets`	$6.62M	USD	2 Qtrs
Asset impairments	`AssetImpairmentCharges`	$16.78M	USD	1 Quarter
Asset impairments	`AssetImpairmentCharges`	$16.78M	USD	2 Qtrs
Changes in investments in, at equity, and advances to unconsolidated companies	`IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions`	$4.53M	USD	2 Qtrs
Compensation expense stock based	`ShareBasedCompensation`	$3.73M	USD	2 Qtrs
Trade and other receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$-2.31M	USD	2 Qtrs
Changes in due to/from affiliate, net	`IncreaseDecreaseInDueToAffiliates`	$-2.37M	USD	2 Qtrs
Marine operating supplies	`IncreaseDecreaseInInventories`	$-1.23M	USD	2 Qtrs
Other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-10.30M	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-1.26M	USD	2 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-24.90M	USD	2 Qtrs
Accrued property and liability losses	`IncreaseDecreaseInAccruedPropertyAndLiabilityLosses`	$-176.00K	USD	2 Qtrs
Other current liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$-4.03M	USD	2 Qtrs
Other liabilities and deferred credits	`IncreaseDecreaseInOtherOperatingLiabilities`	$-1.09M	USD	2 Qtrs
Other, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$5.83M	USD	2 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-35.55M	USD	2 Qtrs
Proceeds from sales of assets	`ProceedsFromSaleOfProductiveAssets`	$32.74M	USD	2 Qtrs
Additions to properties and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$9.83M	USD	2 Qtrs
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$22.91M	USD	2 Qtrs
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$1.18M	USD	2 Qtrs
Cash payments to General Unsecured Creditors	`RepaymentsOfUnsecuredDebt`	$93.72M	USD	2 Qtrs
Cash received for issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$2.00K	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-94.89M	USD	2 Qtrs
Net change in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-107.53M	USD	2 Qtrs
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$560.87M	USD	Point-in-time
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$453.33M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$560.87M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$453.33M	USD	Point-in-time
Interest, net of amounts capitalized	`InterestPaidNet`	$8.22M	USD	2 Qtrs
Income taxes	`IncomeTaxesPaid`	$4.65M	USD	2 Qtrs

Stockholders Equity 9 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.06B	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.02B	USD	Point-in-time
Issuance of Successor common stock and warrants	`StockAndWarrantsIssuedDuringPeriodValueNewIssues`	$1.06B	USD	2 Qtrs
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-38.87M	USD	2 Qtrs
Issuance of common stock	`StockIssuedDuringPeriodValueNewIssues`	$2.00K	USD	2 Qtrs
Amortization/cancellation of restricted stock units	`StockIssuedDuringPeriodValueAmortizationCancellationOfRestrictedStock`	$-3.73M	USD	2 Qtrs
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.06B	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.02B	USD	Point-in-time
Balance	`MinorityInterest`	$2.21M	USD	Point-in-time

Comprehensive Income 11 line items

Line Item	Tag	Value	Unit	Period
Unrealized gains (losses) on available-for-sale securities, tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax`	-	USD	2 Qtrs
Net loss	`ProfitLoss`	$-38.73M	USD	2 Qtrs
Change in loss on derivative contract, tax	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesTax`	-	USD	2 Qtrs
Unrealized gains (losses) on available for sale securities, net of tax of $0, 0 and $61, respectively	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$256.00K	USD	2 Qtrs
Change in supplemental executive retirement plan pension liability, tax	`OtherComprehensiveIncomeSupplementalExecutiveRetirementPlanMinimumLiabilityAdjustmentTaxPeriodIncreaseDecrease`	-	USD	2 Qtrs
Change in Pension Plan minimum liability, tax	`OtherComprehensiveIncomePensionPlanMinimumLiabilityAdjustmentTaxPeriodIncreaseDecrease`	-	USD	2 Qtrs
Change in supplemental executive retirement plan pension liability, net of tax of $0, $0 and ($927), respectively	`OtherComprehensiveIncomeSupplementalExecutiveRetirementPlanMinimumLiabilityAdjustmentNetOfTaxPeriodIncreaseDecrease`	$-1.58M	USD	2 Qtrs
Change in Other Benefit Plan minimum liability, tax	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax`	-	USD	2 Qtrs
Change in pension plan minimum liability, net of tax of $0, $0 and $215, respectively	`OtherComprehensiveIncomePensionPlanMinimumLiabilityAdjustmentNetOfTaxPeriodIncreaseDecrease`	$-357.00K	USD	2 Qtrs
Change in other benefit plan minimum liability, net of tax of $0, $0 and ($2,046), respectively	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-1.54M	USD	2 Qtrs
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-38.87M	USD	2 Qtrs

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