$TDW
TIDEWATER INC

2014 Q1 Form 10-Q Financial Statement

#000119312514036969 Filed on February 05, 2014

View on sec.gov

Income Statement

Concept 2014 Q1 2013 Q4 2012 Q4
Revenue $367.8M $365.2M $309.5M
YoY Change 12.03% 18.03% 13.73%
Cost Of Revenue $212.3M $201.8M $181.1M
YoY Change 15.01% 11.43% 14.77%
Gross Profit $155.5M $80.71M $128.4M
YoY Change 8.21% -37.14% 12.34%
Gross Profit Margin 42.27% 22.1% 41.49%
Selling, General & Admin $53.90M $51.50M $50.30M
YoY Change 6.31% 2.39% 24.5%
% of Gross Profit 34.66% 63.81% 39.17%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $42.90M $42.40M $37.20M
YoY Change 12.01% 13.98% 5.68%
% of Gross Profit 27.59% 52.54% 28.97%
Operating Expenses $96.90M $93.90M $87.50M
YoY Change 8.88% 7.31% 15.74%
Operating Profit $61.06M $20.49M $40.97M
YoY Change 4.25% -50.0% -0.53%
Interest Expense -$9.800M $12.25M $7.183M
YoY Change -1188.89% 70.54% 19.18%
% of Operating Profit -16.05% 59.79% 17.53%
Other Income/Expense, Net -$8.101M -$3.556M
YoY Change 127.81% -9.65%
Pretax Income $51.20M $12.40M $37.40M
YoY Change -13.95% -66.84% 0.27%
Income Tax $7.800M -$196.0K $7.471M
% Of Pretax Income 15.23% -1.58% 19.98%
Net Earnings $43.42M $12.58M $29.95M
YoY Change -6.81% -57.98% -12.15%
Net Earnings / Revenue 11.8% 3.45% 9.68%
Basic Earnings Per Share $0.88 $0.25 $0.61
Diluted Earnings Per Share $0.88 $0.25 $0.61
COMMON SHARES
Basic Shares Outstanding 49.64M shares 49.35M shares 49.16M shares
Diluted Shares Outstanding 49.83M shares 49.38M shares

Balance Sheet

Concept 2014 Q1 2013 Q4 2012 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $60.40M $114.1M $54.20M
YoY Change 48.77% 110.52% -71.22%
Cash & Equivalents $60.36M $114.1M $54.19M
Short-Term Investments
Other Short-Term Assets $20.59M $18.99M $12.56M
YoY Change 75.43% 51.26% 19.59%
Inventory $57.40M $55.70M $61.30M
Prepaid Expenses
Receivables $252.4M $615.1M $362.0M
Other Receivables $429.5M $0.00 $0.00
Total Short-Term Assets $820.2M $803.9M $490.0M
YoY Change 61.43% 64.07% -8.99%
LONG-TERM ASSETS
Property, Plant & Equipment $3.622B $3.546B $3.099B
YoY Change 13.54% 14.45% 7.57%
Goodwill $283.7M $283.7M $297.8M
YoY Change -4.74% -4.74%
Intangibles
YoY Change
Long-Term Investments $63.93M $60.10M $55.36M
YoY Change 38.83% 8.55% 27.86%
Other Assets $96.39M $153.3M $113.8M
YoY Change -23.67% 34.63% -3.2%
Total Long-Term Assets $4.066B $4.044B $3.566B
YoY Change 11.08% 13.4% 6.77%
TOTAL ASSETS
Total Short-Term Assets $820.2M $803.9M $490.0M
Total Long-Term Assets $4.066B $4.044B $3.566B
Total Assets $4.886B $4.847B $4.056B
YoY Change 17.22% 19.52% 4.58%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $74.52M $95.25M $81.98M
YoY Change 25.51% 16.18% 61.7%
Accrued Expenses $157.3M $186.5M $147.5M
YoY Change 23.85% 26.42% 10.65%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $9.512M
YoY Change
Total Short-Term Liabilities $401.7M $339.2M $263.9M
YoY Change 50.65% 28.51% 27.62%
LONG-TERM LIABILITIES
Long-Term Debt $1.505B $1.464B $930.0M
YoY Change 50.54% 57.42% 12.73%
Other Long-Term Liabilities $179.2M $206.2M $120.6M
YoY Change 28.86% 71.03% -8.17%
Total Long-Term Liabilities $1.685B $1.670B $1.051B
YoY Change 47.89% 58.98% 9.86%
TOTAL LIABILITIES
Total Short-Term Liabilities $401.7M $339.2M $263.9M
Total Long-Term Liabilities $1.685B $1.670B $1.051B
Total Liabilities $2.086B $2.009B $1.314B
YoY Change 48.41% 52.86% -4.51%
SHAREHOLDERS EQUITY
Retained Earnings $2.544B $2.513B $2.420B
YoY Change 3.68% 3.88%
Common Stock $147.4M $143.1M $122.9M
YoY Change 17.95% 16.38%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.679B $2.640B $2.526B
YoY Change
Total Liabilities & Shareholders Equity $4.886B $4.847B $4.056B
YoY Change 17.22% 19.52% 4.58%

Cashflow Statement

Concept 2014 Q1 2013 Q4 2012 Q4
OPERATING ACTIVITIES
Net Income $43.42M $12.58M $29.95M
YoY Change -6.81% -57.98% -12.15%
Depreciation, Depletion And Amortization $42.90M $42.40M $37.20M
YoY Change 12.01% 13.98% 5.68%
Cash From Operating Activities $34.80M $60.00M $36.40M
YoY Change 11.54% 64.84% -48.37%
INVESTING ACTIVITIES
Capital Expenditures -$197.2M -$177.2M -$136.8M
YoY Change 72.98% 29.53% -3.59%
Acquisitions
YoY Change
Other Investing Activities $67.80M $178.4M $9.200M
YoY Change 629.03% 1839.13% 64.29%
Cash From Investing Activities -$129.5M $1.300M -$127.6M
YoY Change 23.69% -101.02% -6.45%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 40.90M 7.300M 8.700M
YoY Change -31.61% -16.09% -118.16%
NET CHANGE
Cash From Operating Activities 34.80M 60.00M 36.40M
Cash From Investing Activities -129.5M 1.300M -127.6M
Cash From Financing Activities 40.90M 7.300M 8.700M
Net Change In Cash -53.80M 68.60M -82.50M
YoY Change 292.7% -183.15% -27.5%
FREE CASH FLOW
Cash From Operating Activities $34.80M $60.00M $36.40M
Capital Expenditures -$197.2M -$177.2M -$136.8M
Free Cash Flow $232.0M $237.2M $173.2M
YoY Change 59.78% 36.95% -18.46%

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dei Trading Symbol
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TDW
dei Entity Registrant Name
EntityRegistrantName
TIDEWATER INC
dei Amendment Flag
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false
dei Entity Filer Category
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Large Accelerated Filer
dei Document Fiscal Year Focus
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dei Document Type
DocumentType
10-Q
dei Document Period End Date
DocumentPeriodEndDate
2013-12-31
dei Entity Central Index Key
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dei Current Fiscal Year End Date
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dei Document Fiscal Period Focus
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12250000
CY2013Q4 us-gaap Interest Costs Incurred
InterestCostsIncurred
14893000
CY2013Q4 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
2643000
CY2013Q4 tdw Assets Fair Value Disclosure1
AssetsFairValueDisclosure1
4308000
CY2013Q4 tdw Income Loss From Continuing Operations Before Income Taxes
IncomeLossFromContinuingOperationsBeforeIncomeTaxes
12387000
CY2013Q4 tdw Other Comprehensive Income Amortization Of Loss On Derivative Contract
OtherComprehensiveIncomeAmortizationOfLossOnDerivativeContract
116000
CY2013Q4 tdw Sale Leaseback Transaction Number Of Vessels
SaleLeasebackTransactionNumberOfVessels
4 Vessel
CY2013Q4 tdw Operating Profit Of Other Marine Services
OperatingProfitOfOtherMarineServices
233000

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