← TIDEWATER INC
| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net income | ($160.4m) |
($650.0m)
-305.30%
|
($171.8m)
+73.57%
|
($141.2m)
+17.79%
|
($196.7m)
-39.28%
|
($129.7m)
+34.08%
|
($22.2m)
+82.88%
|
$95.6m
+530.86%
|
$179.3m
+87.48%
|
$333.5m
+86.00%
|
$245.5m
-26.38%
|
|
| Depreciation | $182.3m | $167.3m | $51.3m | $77.0m | $73.0m | $73.2m | $83.5m | $128.8m | $156.2m | $151.1m | $151.8m | |
| Amortization of deferred drydocking and survey costs | — | — | $7.0m | $24.9m | $43.7m | $41.3m | $35.6m | $51.6m | $86.6m | $111.2m | — | |
| Amortization of debt premiums and discounts | — | — | ($1.9m) | ($4.9m) | $4.0m | $3.2m | $1.7m | $4.6m | $6.7m | $5.4m | — | |
| Amortization of below market contracts | — | — | — | — | — | $0 | $0 | ($3.8m) | ($5.0m) | ($1.2m) | — | |
| Deferred income taxes provision (benefit) | ($6.8m) | ($2.2m) | $572k | $672k | $1.2m | ($1.3m) | $36k | $92k | ($2.8m) | ($195.8m) | ($161.7m) | |
| Deferred Tax | — | — | — | — | — | — | $36k | $92k | ($2.8m) | ($195.8m) | ($161.7m) | |
| Stock-based compensation expense | $13.2m | $3.3m | $13.4m | $19.6m | $5.1m | $5.6m | $7.4m | $10.8m | $13.7m | $14.5m | $13.7m | |
| Asset Impairment Charge | — | — | — | — | — | $16.0m | $714k | $0 | $0 | — | $0 | |
| Change In Working Capital | — | — | — | — | — | — | ($79.2m) | ($173.4m) | ($150.7m) | ($29.6m) | ($73.8m) | |
| Trade and other receivables | $71.5m | $104.8m | $9.1m | $1.1m | ($2.6m) | $26.1m | ($4.1m) | ($109.8m) | ($55.5m) | $38.4m | — | |
| Change In Receivables | — | — | — | — | — | — | ($4.1m) | ($109.8m) | ($55.5m) | $38.4m | $9.9m | |
| Change In Inventory | — | — | — | — | — | — | ($14.6m) | $2.0m | ($2.9m) | ($4.6m) | ($4.6m) | |
| Accounts payable | ($4.9m) | ($17.5m) | ($15.2m) | ($4.4m) | ($10.5m) | $3.8m | $16.5m | $6.0m | $26.5m | ($5.0m) | $13.9m | |
| Change In Payables And Accrued Expense | — | — | — | — | — | — | $15.1m | $26.1m | $33.8m | $18.2m | $13.9m | |
| Accrued expenses | ($53.1m) | ($18.7m) | ($13.5m) | $8.2m | ($17.6m) | ($688k) | ($1.3m) | $20.1m | $7.4m | $23.3m | $4.0m | |
| Change In Accrued Expense | — | — | — | — | — | — | ($1.3m) | $20.1m | $7.4m | $23.3m | $4.0m | |
| Prepaid expenses and other current assets | — | — | $10.9m | ($4.1m) | $4.3m | $3.0m | ($4.9m) | $5.8m | $1.6m | $2.1m | — | |
| Other current liabilities | ($15.6m) | ($26.7m) | $1.3m | $3.0m | $8.7m | ($8.9m) | ($555k) | $809k | $13.9m | ($2.7m) | ($383k) | |
| Other liabilities | — | — | — | — | ($20.0m) | ($6.8m) | ($10.9m) | ($740k) | ($2.4m) | $2.3m | — | |
| Change In Other Current Liabilities | — | — | — | — | — | — | ($11.5m) | $69k | $11.5m | ($383k) | ($383k) | |
| Net cash provided by operating activities | $253.4m |
$29.8m
-88.23%
|
$3.9m
-86.78%
|
($31.4m)
-897.34%
|
$4.0m
+112.68%
|
$15.0m
+276.47%
|
$40.2m
+168.07%
|
$104.7m
+160.29%
|
$273.8m
+161.54%
|
$379.1m
+38.44%
|
$311.3m
-17.90%
|
|
| Additions to properties and equipment | ($194.5m) | $5.0m | ($21.4m) | ($18.0m) | ($14.9m) | ($9.0m) | ($16.6m) | ($31.6m) | ($27.6m) | ($25.8m) | — | |
| Acquisitions, net of cash acquired | — | — | — | — | $0 | $0 | ($20.7m) | ($594.2m) | $0 | $0 | $0 | |
| Net Other Investing Changes | — | — | — | — | — | — | $13.6m | $15.5m | $27.4m | $18.3m | $21.4m | |
| Net cash used in investing activities | ($135.0m) | $14.9m | $68.5m | $10.8m | $23.4m | $25.1m | ($23.8m) | ($610.3m) | ($188k) | ($7.5m) | ($18.7m) | |
| Loss on early extinguishment of debt | — | — | $8.1m | $0 | $0 | $11.1m | $0 | $0 | $0 | $27.1m | — | |
| Issuance of long-term debt | — | — | — | $0 | $0 | $172.4m | $0 | $575.0m | $0 | $650.0m | — | |
| Principal payments on long-term debt | ($136.8m) | ($10.1m) | ($105.2m) | ($133.7m) | ($98.1m) | ($198.9m) | $0 | ($13.7m) | ($103.0m) | ($641.9m) | — | |
| Debt extinguishment premium | — | — | ($8.1m) | $0 | $0 | ($7.8m) | $0 | $0 | $0 | ($19.6m) | — | |
| Debt issuance costs | ($996k) | — | — | — | — | ($5.7m) | ($393k) | ($14.8m) | ($213k) | ($19.8m) | — | |
| Debt incurred for the purchase of four vessels | — | — | — | — | — | $0 | $0 | $15.2m | $0 | $11.5m | — | |
| Issuance Of Debt | — | — | — | — | — | — | $0 | $575.0m | $0 | $650.0m | $650.0m | |
| Long Term Debt Issuance | — | — | — | — | — | — | $0 | $575.0m | $0 | $650.0m | $650.0m | |
| Long Term Debt Payments | — | — | — | — | — | — | $0 | ($13.7m) | ($103.0m) | ($648.4m) | ($649.6m) | |
| Net Issuance Payments Of Debt | — | — | — | — | — | — | $0 | $561.3m | ($103.0m) | $1.6m | $360k | |
| Net Long Term Debt Issuance | — | — | — | — | — | — | $0 | $561.3m | ($103.0m) | $1.6m | $360k | |
| Repayment Of Debt | — | — | — | — | — | — | $0 | ($13.7m) | ($103.0m) | ($648.4m) | ($649.6m) | |
| Purchase of common stock | — | — | — | — | — | $0 | $0 | ($35.0m) | ($90.7m) | ($90.1m) | — | |
| Common Stock Issuance | — | — | — | — | — | $0 | $187.8m | $0 | $0 | — | ($2k) | |
| Common Stock Payments | — | — | — | — | — | — | $0 | ($35.0m) | ($90.7m) | ($90.1m) | $0 | |
| Issuance Of Capital Stock | — | — | — | — | — | $0 | $187.8m | $0 | $0 | — | ($2k) | |
| Net Common Stock Issuance | — | — | — | — | — | — | $187.8m | ($35.0m) | ($90.7m) | ($90.1m) | $0 | |
| Repurchase Of Capital Stock | — | — | — | — | — | — | $0 | ($35.0m) | ($90.7m) | ($90.1m) | $0 | |
| Net Other Financing Charges | — | — | — | — | — | — | ($2.7m) | ($22.2m) | ($28.8m) | ($47.5m) | ($46.4m) | |
| Net cash provided by (used in) financing activities | $481.5m |
($16.7m)
-103.47%
|
($128.1m)
-666.01%
|
($149.6m)
-16.79%
|
($99.8m)
+33.30%
|
($41.0m)
+58.89%
|
($2.7m)
+93.38%
|
$615.6m
+22764.06%
|
($222.6m)
-136.16%
|
($136.0m)
+38.92%
|
($46.0m)
+66.14%
|
|
| Cash, cash equivalents and restricted cash at beginning of period | — | $706.4m | $397.7m | $227.6m | $155.2m | $154.3m | $168.0m | $278.0m | $329.0m | $581.6m | — | |
| Beginning Cash Position | — | — | — | — | — | — | $154.3m | $168.0m | $278.0m | $329.0m | $372.3m | |
| Net change in cash, cash equivalents and restricted cash | — | $28.0m | ($55.6m) | ($170.1m) | ($72.4m) | ($949k) | $13.7m | $110.0m | $51.1m | $252.5m | — | |
| Effects of exchange rate changes on cash, cash equivalents and restricted cash | — | — | — | — | — | — | — | $511k | ($8.6m) | $16.9m | — | |
| Effect Of Exchange Rate Changes | — | — | — | — | — | — | — | $511k | ($8.6m) | $16.9m | ($2.8m) | |
| Additional Supplementary Disclosures | ||||||||||||
| Additional Supplementary Disclosures | ||||||||||||
| Unrealized foreign exchange loss (gain) | — | — | — | — | — | — | — | $945k | $14.3m | ($23.4m) | — | |
| Gain on asset dispositions, net | ($26.0m) | ($24.1m) | ($10.6m) | ($2.3m) | ($7.6m) | $2.9m | ($250k) | ($8.7m) | ($15.8m) | ($13.7m) | — | |
| Gain on pension settlement | — | — | — | — | — | $0 | $0 | ($2.3m) | $0 | $0 | — | |
| Marine operating supplies | $13.7m | $2.3m | ($2.0m) | $2.4m | $2.6m | $1.4m | ($14.6m) | $2.0m | ($2.9m) | ($4.6m) | — | |
| Deferred drydocking and survey costs | — | — | ($26.0m) | ($70.4m) | ($33.3m) | ($27.3m) | ($56.0m) | ($97.4m) | ($133.3m) | ($98.6m) | — | |
| Other, net | $1.9m | $3.4m | $6.9m | ($3.3m) | $8.6m | $2.2m | ($3.2m) | $1.3m | ($353k) | $15.3m | — | |
| Proceeds from asset dispositions | $10.7m | $14.8m | $46.1m | $28.8m | $38.3m | $34.0m | $13.6m | $15.5m | $19.3m | $17.6m | — | |
| Proceeds from sale of notes | — | — | — | — | — | — | $0 | $0 | $8.1m | $660k | — | |
| Exercise of warrants | — | — | — | — | — | $0 | $0 | $111.5m | $4k | $0 | — | |
| Payments on finance leases | — | — | — | — | — | — | — | $0 | $0 | ($6.4m) | — | |
| Acquisition of non-controlling interest in a majority owned subsidiary | — | — | — | — | — | $0 | $0 | ($1.4m) | $0 | $0 | — | |
| Share based awards reacquired to pay taxes | — | — | ($4.4m) | ($4.5m) | ($828k) | ($953k) | ($2.3m) | ($6.0m) | ($28.6m) | ($8.1m) | — | |
| Interest, net of amounts capitalized | $50.7m | $70.7m | $32.3m | $32.7m | $21.2m | $13.7m | $15.6m | $26.6m | $66.9m | $47.8m | — | |
| Income taxes | $51.6m | $26.9m | $16.8m | $14.4m | $13.0m | $19.0m | $22.3m | $43.9m | $56.9m | $60.3m | — | |
| Purchase of vessels | — | — | — | — | — | $0 | $0 | $14.3m | $0 | $10.7m | — | |
| Recognition of finance leases | — | — | — | — | — | — | — | $0 | $0 | $28.7m | — | |
| Cash Flow From Continuing Financing Activities | — | — | — | — | — | — | ($2.7m) | $615.6m | ($222.6m) | ($136.0m) | ($46.0m) | |
| Cash Flow From Continuing Investing Activities | — | — | — | — | — | — | ($23.8m) | ($610.3m) | ($188k) | ($7.5m) | ($18.7m) | |
| Change In Account Payable | — | — | — | — | — | — | $16.5m | $6.0m | $26.5m | ($5.0m) | $13.9m | |
| Change In Cash Supplemental As Reported | — | — | — | — | — | — | $13.7m | $110.0m | $51.1m | $252.5m | — | |
| Change In Other Working Capital | — | — | — | — | — | — | ($59.2m) | ($97.5m) | ($139.3m) | ($83.3m) | ($98.7m) | |
| Change In Payable | — | — | — | — | — | — | $16.5m | $6.0m | $26.5m | ($5.0m) | $13.9m | |
| Change In Prepaid Assets | — | — | — | — | — | — | ($4.9m) | $5.8m | $1.6m | $2.1m | $2.1m | |
| Changes In Cash | — | — | — | — | — | — | $13.7m | $109.5m | $59.7m | $235.7m | $246.5m | |
| End Cash Position | — | — | — | — | — | — | $168.0m | $278.0m | $329.0m | $581.6m | $618.9m | |
| Financing Cash Flow | — | — | — | — | — | — | ($2.7m) |
$615.6m
+22764.06%
|
($222.6m)
-136.16%
|
($136.0m)
+38.92%
|
($46.0m)
+66.14%
|
|
| Free Cash Flow | — | — | — | — | — | — | $23.6m | $72.6m | $254.9m | $353.3m | $271.2m | |
| Interest Paid Supplemental Data | — | — | — | — | — | — | $15.6m | $26.6m | $66.9m | $47.8m | $50.4m | |
| Investing Cash Flow | — | — | — | — | — | — | ($23.8m) | ($610.3m) | ($188k) | ($7.5m) | ($18.7m) | |
| Net Business Purchase And Sale | — | — | — | — | — | — | ($20.7m) | ($594.2m) | $0 | $0 | $0 | |
| Net Foreign Currency Exchange Gain Loss | — | — | — | — | — | — | — | $945k | $14.3m | ($23.4m) | ($375k) | |
| Net PPE Purchase And Sale | — | — | — | — | — | — | ($16.6m) | ($31.6m) | ($27.6m) | ($25.8m) | ($40.1m) | |
| Operating Gains Losses | — | — | — | — | — | — | $13.9m | ($10.1m) | ($1.5m) | ($10.0m) | $17.9m | |
| Other Non Cash Items | — | — | — | — | — | — | $36.0m | $52.4m | $88.3m | $115.4m | — | |
| Pension And Employee Benefit Expense | — | — | — | — | — | — | $0 | ($2.3m) | $0 | $0 | $0 | |
| Proceeds From Stock Option Exercised | — | — | — | — | — | — | ($187.8m) | $111.5m | $4k | $0 | $0 | |
| Purchase Of Business | — | — | — | — | — | — | ($20.7m) | ($594.2m) | $0 | $0 | $0 | |
| Purchase Of PPE | $25.5m | $9.8m | $21.4m | $18.0m | $14.9m | $9.0m | ($16.6m) | ($31.6m) | ($27.6m) | ($25.8m) | ($40.1m) | |
| Stock Based Compensation | — | — | — | — | — | — | $7.4m | $10.8m | $13.7m | $14.5m | $13.7m |