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Short-term Borrowings | 9 Months Ended
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Sep. 30, 2025
Short-Term Debt [Abstract] |
Short-term Borrowings | Short-term Borrowings The Company maintains lines of credit aggregating $148.0 million.
|  | (Millions) |  |  |  |
|  | As of September 30, 2025 |  |  |  | Line of Credit
|  | Outstanding | Available | Maximum | Credit Type |  | Expiration Date
Bank of America |  | $ | 10.0 |  |  | $ | 50.0 |  |  | $ | 60.0 |  |  | Uncommitted |  | July 31, 2026
PNC Bank |  | 28.2 |  |  | $ | 39.8 |  |  | 68.0 |  |  | Committed |  | January 31, 2027
CoBank, ACB |  | 16.8 |  |  | 3.2 |  |  | 20.0 |  |  | Committed |  | May 20, 2028
|  | $ | 55.0 |  |  | $ | 93.0 |  |  | $ | 148.0 |  |  |  |  |
In July 2025, Tidewater increased the maximum borrowing amount under its line of credit with CoBank, ACB (CoBank) to $20.0 million and extended the expiration date to May 2028. In September 2025, the Company amended its line of credit with Bank of America and extended the expiration date to July 2026. The maturity dates for the Notes Payable as of September 30, 2025 are all three months or less and are extendable at the discretion of the Company. The interest rates are set for borrowings under the Bank of America and PNC Bank lines of credit using the Secured Overnight Financing Rate (SOFR) and then adding a specific financial institution credit spread. The interest rate for borrowings under the CoBank line of credit are set weekly using CoBank’s internal cost of funds index that is similar to the SOFR and adding a credit spread. There is no requirement for a compensating balance under any of the established lines of credit. The weighted average interest rate on the outstanding borrowings at September 30, 2025 under these credit lines is 5.33%. The weighted average daily amounts of borrowings outstanding under these credit lines and the weighted average interest rates on those amounts were as follows:
|  | (In Thousands)
|  | Three Months Ended September 30, | Nine Months Ended September 30,
|  | 2025 |  | 2024 | 2025 | 2024
Average Daily Amounts Outstanding |  | $ | 61,664 |  |  | $ | 23,476 |  |  | $ | 46,205 |  |  | $ | 44,620 |  |
Weighted Average Interest Rates |  | 5.46 | % |  | 6.41 | % |  | 5.44 | % |  | 6.42 | % |

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- Definition The entire disclosure for short-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 470 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/470/tableOfContent + Details
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