XML 14 R4.htm IDEA: XBRL DOCUMENT v3.20.2
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenues:        
Revenue $ 86,467 $ 119,765 $ 305,179 $ 367,772
Costs and expenses:        
Vessel operating costs 61,784 80,619 205,383 243,261
Costs of other operating revenues 219 534 3,063 1,884
General and administrative 17,438 30,474 56,455 81,310
Depreciation and amortization 30,777 25,735 86,028 73,705
Long-lived asset impairments 1,945 5,224 67,634 5,224
Affiliate credit loss impairment expense 0 0 53,581 0
Affiliate guarantee obligation 0 0 2,000 0
Gain on asset dispositions, net (520) (270) (7,511) (1,047)
Costs and Expenses, Total 111,643 142,316 466,633 404,337
Operating loss (25,176) (22,551) (161,454) (36,565)
Other income (expense):        
Foreign exchange gain (loss) (1,153) 173 (2,365) (324)
Equity in net earnings of unconsolidated companies 0 (468) 0 (435)
Dividend income from unconsolidated company 0 0 17,150 0
Interest income and other, net 272 1,579 1,084 5,908
Interest and other debt costs, net (6,071) (7,468) (18,172) (22,786)
Nonoperating Income (Expense), Total (6,952) (6,184) (2,303) (17,637)
Loss before income taxes (32,128) (28,735) (163,757) (54,202)
Income tax expense 5,953 15,071 3,512 26,443
Net loss (38,081) (43,806) (167,269) (80,645)
Net income (loss) attributable to noncontrolling interests (154) 394 (274) 1,245
Net loss attributable to Tidewater Inc. $ (37,927) $ (44,200) $ (166,995) $ (81,890)
Basic loss per common share (in dollars per share) $ (0.94) $ (1.15) $ (4.15) $ (2.17)
Diluted loss per common share (in dollars per share) $ (0.94) $ (1.15) $ (4.15) $ (2.17)
Weighted average common shares outstanding (in shares) 40,405 38,537 40,271 37,767
Adjusted weighted average common shares (in shares) 40,405 38,537 40,271 37,767
Vessel [Member]        
Revenues:        
Revenue $ 85,395 $ 117,173 $ 298,344 $ 360,476
Product and Service, Other [Member]        
Revenues:        
Revenue $ 1,072 $ 2,592 $ 6,835 $ 7,296