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STOCKHOLDERS' EQUITY | 12 Months Ended
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Dec. 31, 2019
Equity [Abstract] |
STOCKHOLDERS' EQUITY |
(13) | STOCKHOLDERS’ EQUITY
Common Stock The number of authorized and issued common stock and preferred stock are as follows:
|  | December 31, |  |  | December 31, |
|  | 2019 |  |  | 2018 |
Common stock shares authorized |  |  | 125,000,000 |  |  |  | 125,000,000 |
Common stock par value |  | $ | 0.001 |  |  | $ | 0.001 |
Common stock shares issued |  |  | 39,941,327 |  |  |  | 36,978,280 |
Preferred stock shares authorized |  |  | 3,000,000 |  |  |  | 3,000,000 |
Preferred stock par value |  | No par |  |  | No par |
Preferred stock shares issued |  |  | — |  |  |  | — |
Common Stock Repurchases No shares were repurchased during the years ended December 31, 2019 and 2018, the period from August 1, 2017 through December 31, 2017 and the period from April 1, 2017 through July 31, 2017. Dividend Program There were no dividends declared during the years ended December 31, 2019 and 2018, the period from August 1, 2017 through December 31, 2017 and the period from April 1, 2017 through July 31, 2017. Warrants During 2017, we issued 11,543,814 New Creditor Warrants upon emergence from bankruptcy. In addition, 2,432,432 Series A Warrants and 2,629,657 Series B Warrants were issued to the holders of Predecessor common stock with exercise prices of $57.06 and $62.28, respectively. As of December 31, 2019, we had 821,308 shares of common stock issuable upon the exercise of the New Creditor Warrants. No Series A Warrants or Series B Warrants have been exercised. In conjunction with the merger with GulfMark, Tidewater assumed approximately 2.3 million $0.01 Creditor Warrants (“GLF Creditor Warrants”) and approximately 0.8 million $100.00 Equity Warrants (“GLF Equity Warrants”) with each warrant becoming exercisable for 1.10 shares of Tidewater common stock on substantially the same terms and conditions as provided in the warrant agreements governing the GLF Creditor Warrants and the GLF Equity Warrants. As of December 31, 2019, we had 1,281,573 shares of common stock issuable upon the exercise of the GLF Creditor Warrants. No GLF Equity Warrants have been exercised. Accumulated Other Comprehensive Loss The changes in accumulated other comprehensive income by component, net of tax, are as follows:
|  | Successor |
|  | For the year ended December 31, 2019 |
(in thousands) |  | Balance at 12/31/18 |  |  | Gains/(losses) recognized in OCI |  | Reclasses from OCI to net income |  |  | Net period OCI |  |  | Remaining balance 12/31/19 |
Pension benefits |  |  | 2,194 |  |  |  | (2,430 | ) |  |  |  | — |  |  |  | (2,430 | ) |  |  | (236 | )
|  | Successor |
|  | For the year ended December 31, 2018 |
(in thousands) |  | Balance at 12/31/17 |  |  | Gains/(losses) recognized in OCI |  | Reclasses from OCI to net income |  |  | Net period OCI |  |  | Remaining balance 12/31/18 |
Available for sale securities |  |  | 256 |  |  |  | (660 | ) |  |  |  | 404 |  |  |  | (256 | ) |  |  | — |
Pension/Post-retirement benefits |  |  | (403 | ) |  |  | 4,133 |  |  |  |  | (1,536 | ) |  |  | 2,597 |  |  |  | 2,194 |
Total |  |  | (147 | ) |  |  | 3,473 |  |  |  |  | (1,132 | ) |  |  | 2,341 |  |  |  | 2,194 |
|  | Successor |
|  | Period from August 1, 2017 through December 31, 2017 |
(in thousands) |  | Balance at 7/31/17 |  |  | Gains/(losses) recognized in OCI |  | Reclasses from OCI to net income |  |  | Net period OCI |  |  | Remaining balance 12/31/17 |
Available for sale securities |  |  | — |  |  |  | 87 |  |  |  |  | 169 |  |  |  | 256 |  |  |  | 256 |
Pension/Post-retirement benefits |  |  | — |  |  |  | (403 | ) |  |  |  | — |  |  |  | (403 | ) |  |  | (403 | )
Total |  |  | — |  |  |  | (316 | ) |  |  |  | 169 |  |  |  | (147 | ) |  |  | (147 | )
|  | Predecessor |
|  | Period from April 1, 2017 through July 31, 2017 |
(in thousands) |  | Balance at 3/31/17 |  |  | Gains/(losses) recognized in OCI |  | Reclasses from OCI to net income |  |  | Net period OCI |  |  | Remaining balance 7/31/17 |
Available for sale securities |  |  | (95 | ) |  |  | 57 |  |  |  |  | 106 |  |  |  | 163 |  |  |  | 68 |
Currency translation adjustment |  |  | (9,811 | ) |  |  | — |  |  |  |  | — |  |  |  | — |  |  |  | (9,811 | )
Pension/Post-retirement benefits |  |  | (438 | ) |  |  | (2,598 | ) |  |  |  | — |  |  |  | (2,598 | ) |  |  | (3,036 | )
Total |  |  | (10,344 | ) |  |  | (2,541 | ) |  |  |  | 106 |  |  |  | (2,435 | ) |  |  | (12,779 | )
The following table summarizes the reclassifications from accumulated other comprehensive loss to the consolidated statement of income:
|  | Successor |  |  |  | Predecessor |  |
|  |  |  |  |  |  | Period from |  |  |  | Period from |  |  |  |
|  |  | Year |  |  | August 1, 2017 |  |  |  | April 1, 2017 |  |  |  |
|  |  | Ended |  |  | through |  |  |  | through |  |  |  |
(In thousands) |  |  | December 31, 2018 |  |  | December 31, 2017 |  |  |  | July 31, 2017 |  |  |  | Affected line item in the consolidated statements of income
Retiree medical plan |  |  |  | (1,536 | ) |  |  | — |  |  |  |  | — |  |  |  | Interest income and other, net
Realized gains on available for sale securities |  |  |  | 404 |  |  |  | 169 |  |  |  |  | 106 |  |  |  | Interest and other debt costs
Total pre-tax and net of tax amounts |  |  |  | (1,132 | ) |  |  | 169 |  |  |  |  | 106 |  |  |  |

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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