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QUARTERLY FINANCIAL DATA | 9 Months Ended
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Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract] |
QUARTERLY FINANCIAL DATA |
(18) | QUARTERLY FINANCIAL DATA (UNAUDITED)
Selected financial information for interim periods, is as follows:
|  | Successor |  |  |  | Predecessor |
|  |  |  |  |  | Period from |  |  |  | Period from |  |  |  |  |
|  | Quarter Ended |  |  | August 1, 2017 |  |  |  | July 1, 2017 |  |  | Quarter Ended |
|  | December 31, |  |  | through |  |  |  | through |  |  | June 30, |
(In thousands except per share data) |  | 2017 |  |  | September 30, 2017 |  |  |  | July 31, 2017 |  |  | 2017 |
Nine Month Transition Period Ended December 31, 2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  | $ | 104,453 |  |  |  | 74,300 |  |  |  |  | 36,263 |  |  |  | 115,106 |
Operating income (loss) (B) |  |  | (18,091 | ) |  |  | (5,782 | ) |  |  |  | (38,674 | ) |  |  | (205,374 | )
Net loss attributable to Tidewater Inc. |  |  | (23,573 | ) |  |  | (15,693 | ) |  |  |  | (1,122,475 | ) |  |  | (524,434 | )
Basic loss per share attributable to Tidewater Inc. |  | $ | (1.02 | ) |  |  | (.81 | ) |  |  |  | (23.82 | ) |  |  | (11.13 | )
Diluted loss per share attributable to Tidewater Inc. |  | $ | (1.02 | ) |  |  | (.81 | ) |  |  |  | (23.82 | ) |  |  | (11.13 | )
|  | Predecessor |
|  | Quarter Ended |  |  | Quarter Ended |  |  |  | Quarter Ended |  |  | Quarter Ended |
|  | June 30, |  |  | September 30, |  |  |  | December 31, |  |  | March 31, |
(In thousands except per share data) |  | 2016 |  |  | 2016 |  |  |  | 2016 |  |  | 2017 |
Year Ended March 31, 2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues (A) |  | $ | 167,925 |  |  |  | 143,722 |  |  |  |  | 129,215 |  |  |  | 160,749 |
Operating income (loss) (B) |  |  | (66,135 | ) |  |  | (155,344 | ) |  |  |  | (287,034 | ) |  |  | (69,340 | )
Net loss attributable to Tidewater Inc. |  |  | (89,097 | ) |  |  | (178,490 | ) |  |  |  | (297,676 | ) |  |  | (94,855 | )
Basic loss per share attributable to Tidewater Inc. |  | $ | (1.89 | ) |  |  | (3.79 | ) |  |  |  | (6.32 | ) |  |  | (2.01 | )
Diluted loss per share attributable to Tidewater Inc. |  | $ | (1.89 | ) |  |  | (3.79 | ) |  |  |  | (6.32 | ) |  |  | (2.01 | )
| (A) | Included in revenues for the quarter ended March 31, 2017 is $39.1 million of revenue related to early cancellation of a long-term vessel charter contract.
| (B) | Operating income consists of revenues less operating costs and expenses, depreciation, vessel operating leases, goodwill impairment, restructuring charges, asset impairments, general and administrative expenses and gain on asset dispositions, net, of the company’s operations. Asset impairments, net, are as follows:
|  | Successor |  |  |  | Predecessor |
|  |  |  |  |  | Period from |  |  |  | Period from |  |  |  |  |
|  | Quarter Ended |  |  | August 1, 2017 |  |  |  | July 1, 2017 |  |  | Quarter Ended |
|  | December 31, |  |  | through |  |  |  | through |  |  | June 30, |
(In thousands) |  | 2017 |  |  | September 30, 2017 |  |  |  | July 31, 2017 |  |  | 2017 |
Nine Month Transition Period Ended December 31, 2017: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Asset impairments |  | $ | 16,777 |  |  |  | — |  |  |  |  | 21,325 |  |  |  | 163,423 |
|  | Predecessor |
|  | Quarter Ended |  |  | Quarter Ended |  |  |  | Quarter Ended |  |  | Quarter Ended |
|  | June 30, |  |  | September 30, |  |  |  | December 31, |  |  | March 31, |
(In thousands except per share data) |  | 2016 |  |  | 2016 |  |  |  | 2016 |  |  | 2017 |
Year Ended March 31, 2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Asset impairments |  | $ | 36,886 |  |  |  | 129,562 |  |  |  |  | 253,422 |  |  |  | 64,857 |

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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
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