Tidewater (TDW) 10-Q6 Aug 142015 Q1 Quarterly reportFinancial data

Company Profile

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
Document and Entity Information	Jun. 30, 2014	Jul. 25, 2014
Document Information [Line Items]	'	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	30-Jun-14	'
Document Fiscal Year Focus	'2015	'
Document Fiscal Period Focus	'Q1	'
Trading Symbol	'TDW	'
Entity Registrant Name	'TIDEWATER INC	'
Entity Central Index Key	'0000098222	'
Current Fiscal Year End Date	'--03-31	'
Entity Filer Category	'Large Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	49,720,702

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (USD $)	Jun. 30, 2014		Mar. 31, 2014
In Thousands, unless otherwise specified	Jun. 30, 2014		Mar. 31, 2014
Current assets:	'		'
Cash and cash equivalents	$53,451		$60,359
Trade and other receivables, net	291,341		252,421
Due from affiliate	430,167		429,450
Marine operating supplies	63,214		57,392
Other current assets	33,121		20,587
Total current assets	871,294		820,209
Investments in, at equity, and advances to unconsolidated companies	67,926		63,928
Properties and equipment:	'		'
Vessels and related equipment	4,519,296		4,521,102
Other properties and equipment	97,867		97,714
Properties and equipment, gross	4,617,163		4,618,816
Less accumulated depreciation and amortization	1,001,989		997,208
Net properties and equipment	3,615,174		3,621,608
Goodwill	283,699	[1]	283,699	[1]
Other assets	92,751		96,385
Total assets	4,930,844		4,885,829
LIABILITIES AND EQUITY	'		'
Accrued property and liability losses	3,264		3,631
Current liabilities:	'		'
Accounts payable	74,814		74,515
Accrued expenses	131,355		157,302
Due to affiliate	118,456		86,154
Accrued property and liability losses	3,264		3,631
Current portion of long term debt	10,395		9,512
Other current liabilities	71,489		70,567
Total current liabilities	409,773		401,681
Long-term debt	1,500,960		1,505,358
Deferred income taxes	110,146		108,929
Other liabilities and deferred credits	184,756		179,204
Commitments and Contingencies (Note 7)	'		'
Equity:	'		'
Common stock of $0.10 par value, 125,000,000 shares authorized, issued 49,720,702 shares at June 30, 2014 and 49,730,442 shares at March 31, 2014	4,972		4,973
Additional paid-in capital	148,216		142,381
Retained earnings	2,575,339		2,544,255
Accumulated other comprehensive loss	-11,877		-12,225
Total stockholders' equity	2,716,650		2,679,384
Noncontrolling Interests	6,412		5,987
Total equity	2,723,062		2,685,371
Total liabilities and equity	4,930,844		4,885,829
Noncurrent Liabilities	'		'
LIABILITIES AND EQUITY	'		'
Accrued property and liability losses	2,147		5,286
Current liabilities:	'		'
Accrued property and liability losses	$2,147		$5,286

[1]	The total carrying amount of goodwill at June 30, 2014 is net of accumulated impairment charges $30.9 million and $56.3 million related to the Middle East/North Africa and Asia/Pacific segments, respectively.

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Parenthetical) (USD $)	Jun. 30, 2014	Mar. 31, 2014
Common stock, par value	$0.10	$0.10
Common stock, shares authorized	125,000,000	125,000,000
Common stock, issued	49,720,702	49,730,442

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Earnings (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013
Revenues:	'	'
Vessel revenues	$381,510	$331,630
Other operating revenues	4,167	2,455
Total revenues	385,677	334,085
Costs and expenses:	'	'
Vessel operating costs	217,244	196,161
Costs of other operating revenues	4,661	2,020
General and administrative	51,060	50,480
Vessel operating leases	6,540	4,031
Depreciation and amortization	43,111	40,108
Gain on asset dispositions, net	-2,943	-2,140
Total costs and expenses	319,673	290,660
Operating income	66,004	43,425
Other income (expenses):	'	'
Foreign exchange loss	-1,289	-89
Equity in net earnings of unconsolidated companies	5,283	4,420
Interest income and other, net	622	740
Interest and other debt costs, net	-13,129	-8,913
Total other income (expenses)	-8,513	-3,842
Earnings before income taxes	57,491	39,583
Income tax expense	13,792	9,500
Net earnings	43,699	30,083
Less: Net earnings attributable to noncontrolling interests	26	'
Net earnings	$43,673	$30,083
Basic earnings attributable to Tidewater Inc. per common share	$0.88	$0.61
Diluted earnings attributable to Tidewater Inc. per common share	$0.88	$0.61
Weighted average common shares outstanding	49,580,038	49,226,911
Dilutive effect of stock options and restricted stock	282,986	331,090
Adjusted weighted average common shares	49,863,024	49,558,001

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Comprehensive Income (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013
Net earnings	$43,699	$30,083
Other comprehensive income/(loss):	'	'
Unrealized gains on available for sale securities, net of tax of $55 and $60	101	111
Amortization of loss on derivative contract, net of tax of $63 and $63	116	117
Change in other benefit plan minimum liability, net of tax of $70 and $0	131	'
Total comprehensive income	$44,047	$30,311

Condensed_Consolidated_Stateme2

Condensed Consolidated Statements of Comprehensive Income (Parenthetical) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013
Unrealized gains on available for sale securities, tax	$55	$60
Amortization of loss on derivative contract, tax	63	63
Change in other benefit plan minimum liability, tax	$70	$0

Condensed_Consolidated_Stateme3

Condensed Consolidated Statements of Cash Flows (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013
Operating activities:	'	'
Net earnings	$43,699	$30,083
Adjustments to reconcile net earnings to net cash provided by operating activities:	'	'
Depreciation and amortization	43,111	40,108
Provision (benefit) for deferred income taxes	2,432	-12,151
Gain on asset dispositions, net	-2,943	-2,140
Equity in earnings of unconsolidated companies, less dividends	-3,998	-3,398
Compensation expense - stock-based	5,341	5,711
Excess tax benefit on stock options exercised	'	-12
Changes in assets and liabilities, net:	'	'
Trade and other receivables	-39,044	18,891
Changes in due to/from affiliate, net	31,552	-48,515
Marine operating supplies	-5,822	1,100
Other current assets	-12,534	-11,589
Accounts payable	-5,360	-11,459
Accrued expenses	-25,590	-8,421
Accrued property and liability losses	-367	158
Other current liabilities	-616	944
Other liabilities and deferred credits	817	876
Other, net	267	3,409
Net cash provided by operating activities	30,945	3,595
Cash flows from investing activities:	'	'
Proceeds from sales of assets	3,754	2,161
Proceeds from sale/leaseback of assets	13,400	'
Additions to properties and equipment	-39,874	-156,434
Payments for acquisition, net of cash acquired	'	-127,737
Other	3	-665
Net cash used in investing activities	-22,717	-282,675
Cash flows from financing activities:	'	'
Debt issuance costs	'	-2,699
Principal payment on long-term debt	-3,959	-97,490
Debt borrowings	'	414,262
Proceeds from exercise of stock options	994	1,675
Cash dividends	-12,520	-12,436
Excess tax benefit on stock options exercised	'	12
Other	349	'
Net cash (used in) provided by financing activities	-15,136	303,324
Net change in cash and cash equivalents	-6,908	24,244
Cash and cash equivalents at beginning of period	60,359	40,569
Cash and cash equivalents at end of period	53,451	64,813
Cash paid during the period for:	'	'
Interest, net of amounts capitalized	24,385	3,980
Income taxes	11,170	20,617
Supplemental disclosure of non-cash investing activities:	'	'
Additions to properties and equipment	5,236	130
Increase in receivables due to sale of shipyard	'	$9,500

Condensed_Consolidated_Stateme4

Condensed Consolidated Statements of Equity (USD $)	Total	Common stock	Additional paid-in capital	Retained earnings	Accumulated other comprehensive loss	Non controlling interest
In Thousands	Total	Common stock	Additional paid-in capital	Retained earnings	Accumulated other comprehensive loss	Non controlling interest
Balance at Mar. 31, 2013	$2,561,756	$4,949	$119,975	$2,453,973	($17,141)	'
Total comprehensive income	30,311	'	'	30,083	228	'
Exercise of stock options	1,693	5	1,688	'	'	'
Cash dividends declared ($.25 per share)	-12,499	'	'	-12,499	'	'
Amortization of restricted stock units	3,034	'	3,034	'	'	'
Amortization/cancellation of restricted stock	1,172	-3	1,175	'	'	'
Balance at Jun. 30, 2013	2,585,467	4,951	125,872	2,471,557	-16,913	'
Balance at Mar. 31, 2014	2,685,371	4,973	142,381	2,544,255	-12,225	5,987
Total comprehensive income	44,047	'	'	43,673	348	26
Exercise of stock options	1,000	3	997	'	'	'
Cash dividends declared ($.25 per share)	-12,589	'	'	-12,589	'	'
Amortization of restricted stock units	992	'	992	'	'	'
Amortization/cancellation of restricted stock	3,842	-4	3,846	'	'	'
Cash received from noncontrolling interests	449	'	'	'	'	449
Cash paid to noncontrolling interests	-50	'	'	'	'	-50
Balance at Jun. 30, 2014	$2,723,062	$4,972	$148,216	$2,575,339	($11,877)	$6,412

Condensed_Consolidated_Stateme5

Condensed Consolidated Statements of Equity (Parenthetical) (USD $)	3 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Cash dividends, per share declared	$0.25	$0.25

Interim_Financial_Statements

Interim Financial Statements	3 Months Ended
	Jun. 30, 2014
Interim Financial Statements	'
	-1	INTERIM FINANCIAL STATEMENTS
	The unaudited condensed consolidated financial statements for the interim periods presented herein have been prepared in conformity with United States generally accepted accounting principles and, in the opinion of management, include all adjustments (consisting only of normal recurring adjustments) necessary for a fair presentation of the unaudited condensed consolidated financial statements at the dates and for the periods indicated as required by Rule 10-01 of Regulation S-X of the Securities and Exchange Commission (SEC). Results of operations for interim periods are not necessarily indicative of results of operations for the respective full years. These unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto in the company’s Annual Report on Form 10-K for the year ended March 31, 2014, filed with the SEC on May 21, 2014.
	The unaudited condensed consolidated financial statements include the accounts of Tidewater Inc. and its subsidiaries. Intercompany balances and transactions are eliminated in consolidation. The company uses the equity method to account for equity investments over which the company exercises significant influence but does not exercise control and is not the primary beneficiary. Unless otherwise specified, all per share information included in this document is on a diluted earnings per share basis.
	The company made certain reclassifications to prior period amounts to conform to the current year presentation. These reclassifications did not have a material effect on the condensed consolidated statements of earnings, balance sheets or cash flows.

Stockholders_Equity

Stockholders' Equity	3 Months Ended
Stockholders' Equity	Jun. 30, 2014
Stockholders' Equity	'
	-2	STOCKHOLDERS’ EQUITY
	Common Stock Repurchase Program
	In May 2014, the company’s Board of Directors authorized the company to spend up to $200.0 million to repurchase shares of its common stock in open-market or privately-negotiated transactions. The effective period for this authorization is July 1, 2014 through June 30, 2015. The company uses its available cash and, when considered advantageous, borrowings under its revolving credit facility or other borrowings, to fund any share repurchases. The company evaluates share repurchase opportunities relative to other investment opportunities and in the context of current conditions in the credit and capital markets.
	In May 2013, the company’s Board of Directors authorized the company to spend up to $200 million to repurchase shares of its common stock in open-market or privately-negotiated transactions. The effective period for this authorization was July 1, 2013 through June 30, 2014. No shares were repurchased under the May 2013 program.
	Dividends
	The declaration of dividends is at the discretion of the company’s Board of Directors. The Board of Directors declared the following dividends for the quarters ended June 30:


						Quarter Ended
						June 30,
	(In thousands, except dividend per share)					2014		2013
	Dividends declared		$				12,589		12,499
	Dividend per share						0.25		0.25

	Accumulated Other Comprehensive Loss
	The changes in accumulated other comprehensive income by component, net of tax for the quarter ended June 30, 2014 and 2013 are as follows:


			For the quarter ended June 30, 2013												For the quarter ended June 30, 2014
	(in thousands)		Balance			Gains/(losses)		Reclasses		Net		Remaining			Balance			Gains/(losses)		Reclasses		Net		Remaining
			at			recognized		from OCI to		period		balance			at			recognized		from OCI to		period		balance
			3/31/13			in OCI		net income		OCI		6/30/13			3/31/14			in OCI		net income		OCI		6/30/14
	Available for sale securities			(121	)		31		80		111		(10	)		92			31		70		101		193
	Currency translation adjustment			(9,811	)		---		---		---		(9,811	)		(9,811	)		---		---		---		(9,811	)
	Pension/Post-retirement benefits			(4,353	)		---		---		---		(4,353	)		(116	)		131		---		131		15
	Interest rate swap			(2,856	)		---		117		117		(2,739	)		(2,390	)		---		116		116		(2,274	)
	Total			(17,141	)		31		197		228		(16,913	)		(12,225	)		162		186		348		(11,877	)

	The following table summarizes the reclassifications from accumulated other comprehensive loss to the condensed consolidated statement of income for the quarters ended June 30, 2014 and 2013:


						Quarter Ended				Affected line item in the condensed
						June 30,				Affected line item in the condensed
	(In thousands)					2014		2013		consolidated statements of income
	Realized gains on available for sale securities		$				108		123	Interest income and other, net
	Amortization of interest rate swap						178		180	Interest and other debt costs, net
	Total pre-tax amounts						286		303
	Tax effect						100		106
	Total gains for the period, net of tax		$				186		197

Income_Taxes

Income Taxes

3 Months Ended

Jun. 30, 2014

Income Taxes

-3

INCOME TAXES

Income tax expense for interim periods is based on estimates of the effective tax rate for the entire fiscal year. The effective tax rate applicable to pre-tax earnings, for the quarters ended June 30 is as follows:

Quarter Ended

June 30,

2014

2013

Effective tax rate applicable to pre-tax earnings

24.0%

The 24% effective tax rates for the quarters ended June 30, 2014 and 2013 is lower than the U.S. statutory income tax rate of 35% primarily because the company has not recognized a U.S. deferred tax liability associated with temporary differences related to investments in foreign subsidiaries that are essentially permanent in duration.

The company’s balance sheet at June 30, 2014 reflects the following in accordance with Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) 740, Income Taxes:

(In thousands)

June 30,

2014

Tax liabilities for uncertain tax positions

19,147

Income tax payable

38,353

The tax liabilities for uncertain tax positions are attributable to a foreign tax filing position and a permanent establishment issue related to a foreign joint venture. Penalties and interest related to income tax liabilities are included in income tax expense. Income tax payable is included in other current liabilities.

Unrecognized tax benefits, which would lower the effective tax rate if realized at June 30, 2014, are as follows:

(In thousands)

June 30,

2014

Unrecognized tax benefit related to state tax issues

11,230

Interest receivable on unrecognized tax benefit related to state tax issues

With limited exceptions, the company is no longer subject to tax audits by U.S. federal, state, local or foreign taxing authorities for years prior to 2007. The company has ongoing examinations by various U.S. federal, state and foreign tax authorities and does not believe that the results of these examinations will have a material adverse effect on the company’s financial position, results of operations, or cash flows.

Employee_Benefit_Plans

Employee Benefit Plans	3 Months Ended
Employee Benefit Plans	Jun. 30, 2014
Employee Benefit Plans	'
	-4	EMPLOYEE BENEFIT PLANS
	U.S. Defined Benefit Pension Plan
	The company has a defined benefit pension plan (pension plan) that covers certain U.S. citizen employees and other employees who are permanent residents of the United States. Effective April 1, 1996, the pension plan was closed to new participation. In December 2009, the Board of Directors amended the pension plan to discontinue the accrual of benefits once the plan was frozen on December 31, 2010. This change did not affect benefits earned by participants prior to January 1, 2011. The company did not contribute to the defined benefit pension plan during the quarters ended June 30, 2014 and 2013, and does not expect to contribute to the plan during the remaining quarters of fiscal 2015.
	Supplemental Executive Retirement Plan
	The company also maintains a non-contributory, defined benefit supplemental executive retirement plan (supplemental plan) that provides pension benefits to certain employees in excess of those allowed under the company’s tax-qualified pension plan. A Rabbi Trust has been established for the benefit of participants in the supplemental plan. The Rabbi Trust assets, which are invested in a variety of marketable securities (but not Tidewater stock), are recorded at fair value with unrealized gains or losses included in other comprehensive income. Effective March 4, 2010, the supplemental plan was closed to new participation. The supplemental plan is a non-qualified plan and, as such, the company is not required to make contributions to the supplemental plan. The company did not contribute to the supplemental plan during the quarters ended June 30, 2014 and 2013, and does not expect to contribute to the plan during the remaining quarters of fiscal 2015.
	Investments held in a Rabbi Trust for the benefit of participants in the supplemental plan are included in other assets at fair value. The following table summarizes the carrying value of the trust assets, including unrealized gains or losses at June 30, 2014 and March 31, 2014:


	(In thousands)		June 30,		March 31,
	(In thousands)		2014		2014
	Investments held in Rabbi Trust		$	10,344		10,285
	Unrealized gains (losses) in fair value of trust assets			193		92
	Unrealized gains (losses) in fair value of trust assets are net of income tax expense of			104		49
	Obligations under the supplemental plan			22,354		21,918
	The unrealized gains or losses in the fair value of the trust assets, net of income tax expense, are included in accumulated other comprehensive income. To the extent that trust assets are liquidated to fund benefit payments, gains or losses, if any, will be recognized at that time. The company’s obligations under the supplemental plan are included in ‘accrued expenses’ and ‘other liabilities and deferred credits’ on the consolidated balance sheet.
	Postretirement Benefit Plan
	Qualified retired employees currently are covered by a program which provides limited health care and life insurance benefits. Costs of the program are based on actuarially determined amounts and are accrued over the period from the date of hire to the full eligibility date of employees who are expected to qualify for these benefits. This plan is funded through payments as benefits are required.

	Net Periodic Benefit Costs
	The net periodic benefit cost for the company’s U.S. defined benefit pension plan and the supplemental plan (referred to collectively as “Pension Benefits”) and the postretirement health care and life insurance plan (referred to collectively as “Other Benefits”) is comprised of the following components:


			Quarter Ended
			June 30,
	(In thousands)		2014		2013
	Pension Benefits:
	Service cost		$	206		198
	Interest cost			968		895
	Expected return on plan assets			(685)		(718)
	Amortization of prior service cost			12		12
	Recognized actuarial loss			247		276
	Net periodic benefit cost		$	748		663

	Other Benefits:
	Service cost		$	68		101
	Interest cost			226		262
	Amortization of prior service cost			(508)		(508)
	Recognized actuarial benefit			(325)		(99)
	Net periodic benefit cost		$	(539)		(244)

Indebtedness

Indebtedness	3 Months Ended
Indebtedness	Jun. 30, 2014
Indebtedness	'
	-5	INDEBTEDNESS
	Senior Notes, Revolving Credit and Term Loan Agreement
	A summary of debt outstanding at June 30, 2014 and March 31, 2014, are as follows:


	(In thousands, except weighted average data)		June 30,			March 31,
	(In thousands, except weighted average data)		2014			2014
	Credit facility:
	Term loan agreement (A)		$	300,000			300,000
	Revolving line of credit (A) (B)			---			---
	September 2013 senior unsecured notes:
	Aggregate debt outstanding		$	500,000			500,000
	Weighted average remaining life in years			9.2			9.4
	Weighted average coupon rate on notes outstanding			4.86	%		4.86	%
	Fair value of debt outstanding (Level 2)		$	522,988			520,979
	August 2011 senior unsecured notes:
	Aggregate debt outstanding		$	165,000			165,000
	Weighted average remaining life in years			6.3			6.6
	Weighted average coupon rate on notes outstanding			4.42	%		4.42	%
	Fair value of debt outstanding (Level 2)		$	170,332			168,653
	September 2010 senior unsecured notes:
	Aggregate debt outstanding		$	425,000			425,000
	Weighted average remaining life in years			5.4			5.6
	Weighted average coupon rate on notes outstanding			4.25	%		4.25	%
	Fair value of debt outstanding (Level 2)		$	438,074			436,264
	July 2003 senior unsecured notes:
	Aggregate debt outstanding		$	35,000			35,000
	Weighted average remaining life in years			1.1			1.3
	Weighted average coupon rate on notes outstanding			4.61	%		4.61	%
	Fair value of debt outstanding (Level 2)		$	35,866			36,018
	(A) Fair values approximate carrying values because the borrowings bear interest at variable rates.
	(B) $600.0 million was available under the revolver at June 30, 2014 and March 31, 2014.

	Norwegian Kroner Denominated Debt
	A summary of the Norwegian Kroner (NOK) denominated borrowings outstanding at June 30, 2014 and March 31, 2014, and their U.S. dollar equivalents are as follows:


	(In thousands)		June 30,			March 31,
	(In thousands)		2014			2014
	3.81% January 2014 notes:
	NOK denominated			300,000			300,000
	U.S. dollar equivalent		$	50,265			50,028
	Fair value in U.S. dollar equivalent (Level 2)			50,302			50,044
	5.38% May 2012 notes:
	NOK denominated			170,400			178,920
	U.S. dollar equivalent		$	28,550			29,867
	Fair value in U.S. dollar equivalent (Level 2)			28,467			29,588
	Variable rate borrowings:
	June 2013 borrowing agreement (C)
	NOK denominated			25,000			25,000
	U.S. dollar equivalent		$	4,188			4,168
	May 2012 borrowing agreement (C)
	NOK denominated			20,000			35,000
	U.S. dollar equivalent		$	3,351			5,837
	(C) Fair values approximate carrying values because the borrowings bear interest at variable rates.
	Debt Costs
	The company capitalizes a portion of its interest costs incurred on borrowed funds used to construct vessels. Interest and debt costs incurred, net of interest capitalized, for the quarter periods ended June 30, are as follows:


						Quarter Ended
						June 30,
	(In thousands)					2014			2013
	Interest and debt costs incurred, net of interest capitalized		$				13,129			8,913
Interest costs capitalized						2,872			2,963
Total interest and debt costs		$				16,001			11,876

Earnings_per_Share

Earnings per Share	3 Months Ended
Earnings per Share	Jun. 30, 2014
Earnings per Share	'
	-6	EARNINGS PER SHARE
	The components of basic and diluted earnings per share for the quarters ended June 30, are as follows:


			Quarter Ended
			June 30,
	(In thousands, except share and per share data)		2014		2013
	Net Income available to common shareholders (A)		$	43,673		30,083
	Weighted average outstanding shares of common stock, basic (B)			49,580,038		49,226,911
	Dilutive effect of options and restricted stock awards and units			282,986		331,090
	Weighted average common stock and equivalents (C)			49,863,024		49,558,001

	Earnings per share, basic (A/B)		$	0.88		0.61
	Earnings per share, diluted (A/C)		$	0.88		0.61
	Additional information:
	Antidilutive incremental options and restricted stock awards and units			---		17,755

Commitments_and_Contingencies

Commitments and Contingencies

3 Months Ended

Jun. 30, 2014

Commitments and Contingencies

-7

COMMITMENTS AND CONTINGENCIES

Vessel and Other Commitments

The table below summarizes the company’s various vessel commitments to acquire and construct new vessels and ROVs, by vessel type, as of June 30, 2014:

(In thousands, except vessel count)

Number

Total

Invested

Remaining

Cost

Through

Balance

Vessels/ROVs

6/30/14

Vessels under construction:

Deepwater PSVs

843,784

230,331

613,453

Towing-supply vessels

116,143

55,909

60,234

Other

8,014

---

Total vessel commitments

967,941

294,254

673,687

Total ROV commitments

14,980

3,694

11,286

Total commitments

982,921

297,948

684,973

The total cost of the various vessel new-build commitments includes contract costs and other incidental costs. The company has vessels under construction at a number of different shipyards around the world. The deepwater PSVs under construction range between 3,000 and 6,360 deadweight tons (DWT) of cargo capacity while the towing-supply vessels under construction are AHTS vessels that have 7,145 brake horsepower (BHP). The new-build vessels are estimated to deliver starting in August 2014, with delivery of the final new-build vessel expected in June 2016. The company also has new-build commitments for two ROVs at June 30, 2014 with delivery dates in November of 2014.

With its commitment to modernizing its fleet through its vessel construction and acquisition program over the past decade, the company has successfully replaced a significant number of the older vessels of its fleet with fewer, larger and more efficient vessels that have a more extensive range of capabilities. These efforts are expected to continue, with the company anticipating that it will use some portion of its future operating cash flows and existing borrowing capacity as well as possible new borrowings or lease finance arrangements in order to fund current and future commitments in connection with the fleet renewal and modernization program. The company continues to evaluate its fleet renewal program, whether through new construction or acquisitions, relative to other investment opportunities and uses of cash, including the current share repurchase authorization, and in the context of current conditions in the credit and capital markets.

Currently the company is continuing to experience substantial delay with one fast supply boat under construction in Brazil that was originally scheduled to be delivered in September 2009. On April 5, 2011, pursuant to the vessel construction contract, the company sent the subject shipyard a letter initiating arbitration in order to resolve disputes of such matters as the shipyard’s failure to achieve payment milestones, its failure to follow the construction schedule, and its failure to timely deliver the vessel. The company has suspended construction on the vessel and both parties continue to pursue that arbitration. The company has third party credit support in the form of insurance coverage for 90% of the progress payments made on this vessel, or all but approximately $2.4 million of the carrying value of the accumulated costs through June 30, 2014. The company had committed and invested $8.0 million as of June 30, 2014.

In December 2013, the company took delivery of the second of two deepwater PSVs constructed in a U.S. shipyard. In connection with the delivery of those vessels, the company and the shipyard agreed to hold $11.7 million in escrow with a financial institution pending resolution of disputes over whether all or a portion of those funds are due to the shipyard as the shipyard has claimed. Some of the disputes may be resolved by high level management meetings between the parties or through a structured mediation. The balance of the claims will need to be resolved through litigation in New York state court. Although formal dispute resolution efforts are currently at an early stage, initial negotiations have thus far failed to resolve the parties’ disputes, and the company has retained New York counsel to represent the company in the mediation and litigation procedures. The escrowed amounts have been included in the cost of the acquired vessels.

The company generally requires shipyards to provide third party credit support in the event that vessels are not completed and delivered timely and in accordance with the terms of the shipbuilding contracts. That third party credit support typically guarantees the return of amounts paid by the company and generally takes the form of refundment guarantees or standby letters of credit issued by major financial institutions located in the country of the shipyard. While the company seeks to minimize its shipyard credit risk by requiring these instruments, the ultimate return of amounts paid by the company in the event of shipyard default is still subject to the creditworthiness of the shipyard and the provider of the credit support, as well as the company’s ability to successfully pursue legal action to compel payment of these instruments. When third party credit support that is acceptable to the company is not available or cost effective, the company endeavors to limit its credit risk by minimizing pre-delivery payments and through other contract terms with the shipyard.

Merchant Navy Officers Pension Fund

On July 15, 2013, a subsidiary of the company was placed into administration in the United Kingdom. Joint administrators were appointed to administer and distribute the subsidiary’s assets to the subsidiary’s creditors. The vessels owned by the subsidiary had become aged and were no longer economical to operate, which has caused the subsidiary’s main business to decline in recent years. Only one vessel generated revenue as of the date of the administration. As part of the administration, the company agreed to acquire seven vessels from the subsidiary (in exchange for cash) and to waive certain intercompany claims. The purchase price valuation for the vessels, all but one of which were stacked, was based on independent, third party appraisals of the vessels.

The company previously reported that a subsidiary of the company is a participating employer in an industry-wide multi-employer retirement fund in the United Kingdom, known as the Merchant Navy Officers Pension Fund (MNOPF). The subsidiary that participates in the MNOPF is the entity that was placed into administration in the U.K. MNOPF is that subsidiary’s largest creditor, and has claimed as an unsecured creditor in the administration. The Company believed that the administration was in the best interests of the subsidiary and its principal stakeholders, including the MNOPF. The MNOPF indicated that it did not object to the insolvency process and that, aside from asserting its claim in the subsidiary’s administration and based on the company’s representations of the financial status and other relevant aspects of the subsidiary, MNOPF will not pursue the subsidiary in connection with any amounts due or which may become due to the fund.

In December 2013, the administration was converted to a liquidation. That conversion allowed for an interim cash liquidation distribution to be made to MNOPF. The conversion is not expected to have any impact on the company. The liquidation is expected to be completed in calendar 2014. The company believes that the liquidation will resolve the subsidiary’s participation in the MNOPF. The company also believes that the ultimate resolution of this matter will not have a material effect on the consolidated financial statements.

Sonatide Joint Venture

As previously reported, in November 2013, a subsidiary of the company and its joint venture partner in Angola, Sonangol Holdings Lda. (“Sonangol”), executed a new joint venture agreement for their joint venture, Sonatide. The new joint venture agreement is currently effective and will expire, unless extended, two years after an Angolan entity, which is intended to be one of the Sonatide group of companies, has been incorporated. The Angolan entity is expected to be incorporated in late 2014 after certain Angolan regulatory approvals have been obtained.

The challenges for the company to successfully operate in Angola remain significant. As the company has previously reported, on July 1, 2013, elements of new legislation (the “forex law”) became effective that require oil companies participating in concessions that engage in exploration and production activities offshore Angola to pay for goods and services provided by foreign exchange residents in Angolan kwanzas that are initially deposited into an Angolan bank account. The forex law also imposes documentation and other requirements on service companies such as Sonatide in order to effect payments that are denominated currencies other than Angolan kwanzas. The forex law (and interpretations of the forex law by a number of market participants absent official guidance from the National Bank of Angola or the government of Angola) have resulted in, and will likely continue to result in, substantial customer payments to Sonatide being made in Angolan kwanzas. Such a result has been, and could continue to be, unfavorable because the conversion of Angolan kwanzas into U.S. dollars and the subsequent expatriation of the funds may result in payment delays, currency devaluation risk prior to conversion of kwanzas to dollars, additional costs to convert kwanzas into dollars and potentially additional taxes.

In response to the new forex law, Tidewater and Sonangol negotiated an agreement (the “consortium agreement”) that is intended to allow the Sonatide joint venture to enter into contracts with customers that allocate billings for services provided by Sonatide between (i) billings for local services that are provided by a foreign exchange resident (that must be paid in kwanzas), and (ii) billings for services provided offshore (that can be paid in dollars). We anticipate that Sonatide will soon execute the agreed form of consortium agreement (which the company understands is comparable to arrangements utilized, or intended to be utilized, by other service companies operating in Angola).

The company understands that the National Bank of Angola may issue a clarifying interpretation of the forex law by the end of calendar 2014. Any clarifying interpretation provided by the National Bank of Angola, and the resulting method and form of payment for goods and services that is utilized by the oil companies operating offshore Angola, should allow Sonatide, the company and other market participants to better assess the risk profile of the Angolan market over the longer term (i.e., this is an industry issue).

As of June 30, 2014, the company had approximately $430 million in amounts due from Sonatide, largely reflecting unpaid vessel revenue (billed and unbilled) related to services performed by the company through the Sonatide joint venture. These amounts began to accumulate in late calendar 2012, when the initial provisions of the forex law relating to payments for goods and services provided by foreign exchange residents took effect (and payments were required to be paid into local bank accounts). Beginning in June 2013, when the second provision of the forex law took effect (and the local payments had to be made in kwanza), Sonatide generally accrued for but did not deliver invoices to customers for vessel revenue related to Sonatide and the company’s collective Angolan operations in order to minimize the exposure that Sonatide would be paid for a substantial amount of charter hire in kwanzas and into an Angolan bank. In the interim, the company has been using its credit facility and other arrangements to fund the substantial working capital requirements related to its Angola operations.

In the first quarter of fiscal 2015, Sonatide began sending invoices to those customers who have insisted on paying U.S. dollar denominated invoices in kwanza. As invoices are paid in kwanza, Sonatide will seek to convert those kwanzas into U.S. dollars and utilize those U.S. dollars to pay the amounts that Sonatide owes the company. That conversion and expatriation process is subject to those risks and considerations set forth above. In addition, since February 2014, Sonatide has been entering into several customer agreements that contain split dollar/kwanza payments (typically 70% dollars and 30% kwanzas). While the company is confident, based on advice of counsel, that these split payment contracts comply with current Angolan law, it is not clear if this type of contracting will be available to Sonatide over the longer term. To the extent the National Bank of Angola issues the above referenced clarifying interpretation of the forex law or standard market practices develop in Angola in regards to split payment contracts without objection by the National Bank of Angola, the company expects that Sonatide will more broadly utilize split payment contracts.

For the quarter ended June 30, 2014, the company collected approximately $91 million from Angolan customers, which represents slightly more than the approximately $87 million in revenue generated for the same period. Of the $91 million collected, approximately $59 million represented dollars held by Sonatide or dollars collected from other customers that did not need to be converted to U.S. dollars prior to payment to Tidewater. The remaining $32 million of the total amount collected resulted from Sonatide’s conversion of kwanzas to dollars and subsequent payment to Tidewater. The company believes that the process for converting kwanzas is functioning reasonably well given that the conversion process is still developing.

For the quarter ended June 30, 2014, Tidewater’s Angolan operations generated vessel revenues of approximately $87 million, or 23%, of its consolidated vessel revenue, from an average of approximately 83 Tidewater-owned vessels that are marketed through the Sonatide joint venture (four of which were stacked on average during the quarter ended June 30, 2014), and, for the quarter ended June 30, 2013, generated vessel revenues of approximately $98 million, or 29%, of consolidated vessel revenue, from an average of approximately 88 Tidewater-owned vessels (five of which were stacked on average during the quarter ended June 30, 2013).

The Sonatide joint venture owns ten vessels and certain other assets, in addition to earning commission income from Tidewater-owned vessels marketed through the Sonatide joint venture (owned 49% by Tidewater). As of June 30, 2014 and March 31, 2014, the carrying value of Tidewater’s investment in the Sonatide joint venture, which is included in “Investments in, at equity, and advances to unconsolidated companies,” is approximately $66 million and $62 million, respectively.

Due from affiliate at June 30, 2014 and March 31, 2014 of approximately $430 million and $430 million, respectively, represents cash received by Sonatide from customers and due to the company, costs paid by Tidewater on behalf of Sonatide and, finally, amounts due from customers that are expected to be remitted to the company through Sonatide.

Due to affiliate at June 30, 2014 and March 31, 2014 of approximately $118 million and $86 million, respectively, represents amounts due to Sonatide for commissions payable (approximately $51 million and $43 million, respectively) and other costs paid by Sonatide on behalf of the company.

Management is exploring ways to continue to profitably participate in the Angolan market while reducing the overall level of exposure of the company to the increased risks that the company believes currently characterize the Angolan market. Included among mitigating measures taken by the company to address these risks is the redeployment of vessels from time to time to other markets where demand for the company’s vessels remains strong. During the year ended March 31, 2014, the company redeployed vessels from its Angolan operations to other markets and also transferred vessels into its Angolan operations from other markets resulting in a net increase of one vessel operating in the area. Redeployment of vessels to other markets in the period beginning April 1, 2014 through July 31, 2014 has been more significant (net 9 vessels transferred out of Angola) than in prior periods.

We believe the global market for offshore support vessels is currently well balanced, with offshore vessel supply approximately equal to offshore vessel demand; however, there would likely be negative financial impacts associated with the redeployment of vessels to other markets, including mobilization costs and costs to redeploy Tidewater shore-based employees to other areas, in addition to lost revenues associated with potential downtime between vessel contracts. These financial impacts could, individually or in the aggregate, be material to our results of operations and cash flows for the periods when such costs would be incurred. If there is a need to redeploy vessels which are currently deployed in Angola to other international markets, Tidewater believes that there is sufficient demand for a majority of these vessels at prevailing market day rates.

Brazilian Customs

In April 2011, two Brazilian subsidiaries of Tidewater were notified by the Customs Office in Macae, Brazil that they were jointly and severally being assessed fines of 155.0 million Brazilian reais (approximately $70.3 million as of June 30, 2014). The assessment of these fines is for the alleged failure of these subsidiaries to obtain import licenses with respect to 17 Tidewater vessels that provided Brazilian offshore vessel services to Petrobras, the Brazilian national oil company, over a three-year period ending December 2009. After consultation with its Brazilian tax advisors, Tidewater and its Brazilian subsidiaries believe that vessels that provide services under contract to the Brazilian offshore oil and gas industry are deemed, under applicable law and regulations, to be temporarily imported into Brazil, and thus exempt from the import license requirement. The Macae Customs Office has, without a change in the underlying applicable law or regulations, taken the position that the temporary importation exemption is only available to new, and not used, goods imported into Brazil and therefore it was improper for the company to deem its vessels as being temporarily imported. The fines have been assessed based on this new interpretation of Brazilian customs law taken by the Macae Customs Office.

After consultation with its Brazilian tax advisors, the company believes that the assessment is without legal justification and that the Macae Customs Office has misinterpreted applicable Brazilian law on duties and customs. The company is vigorously contesting these fines (which it has neither paid nor accrued) and, based on the advice of its Brazilian counsel, believes that it has a high probability of success with respect to the overturn of the entire amount of the fines, either at the administrative appeal level or, if necessary, in Brazilian courts. In December 2011, an administrative board issued a decision that disallowed 149.0 million Brazilian reais (approximately $67.6 million as of June 30, 2014) of the total fines sought by the Macae Customs Office. In two separate proceedings in 2013, a secondary administrative appeals board considered fines totaling 127.0 million Brazilian reais (approximately $57.6 million as of June 30, 2014) and rendered decisions that disallowed all of those fines. The remaining fines totaling 28.0 million Brazilian reais (approximately $12.7 million as of June 30, 2014) are still subject to a secondary administrative appeals board hearing, but the company believes that both decisions will be helpful in that upcoming hearing. The secondary board decisions disallowing the fines totaling 127.0 million Brazilian reais are, however, still subject to the possibility of further administrative appeal by the authorities that imposed the initial fines. The company believes that the ultimate resolution of this matter will not have a material effect on the consolidated financial statements.

Potential for Future Brazilian State Tax Assessment

The company is aware that a Brazilian state in which the company operates has notified two of the company’s competitors that they are liable for unpaid taxes (and penalties and interest thereon) for failure to pay state import taxes with respect to vessels that such competitors operate within the coastal waters of such state pursuant to charter agreements. The import tax being asserted is equal to a percentage (which could be as high as 16% for vessels entering that state’s waters prior to December 31, 2010 and 3% thereafter) of the affected vessels’ declared values. The company understands that the two companies involved are contesting the assessment through administrative proceedings before the taxing authority.

The company’s two Brazilian subsidiaries have not been similarly notified by the Brazilian state that they have an import tax liability related to their vessel activities imported through that state. Although the company has been advised by its Brazilian tax counsel that substantial defenses would be available if a similar tax claim were asserted against the company, if an import tax claim were to be asserted, it could be for a substantial amount given that the company has had substantial and continuing operations within the territory of the state (although the amount could fluctuate significantly depending on the administrative determination of the taxing authority as to the rate to apply, the vessels subject to the levy and the time periods covered). In addition, under certain circumstances, the company might be required to post a bond or other adequate security in the amount of the assessment (plus any interest and penalties) if it became necessary to challenge the assessment in a Brazilian court. The statute of limitations for the Brazilian state to levy an assessment of the import tax is five years from the date of a vessel’s entry into Brazil. The company has not yet determined the potential tax assessment, and according to the Brazilian tax counsel, chances of defeating a possible claim/notification from the State authorities in court are probable. To obtain legal certainty and predictability for future charter agreements and because the company has imported several vessels to start new charters in Brazil, the company filed several suits in 2011, 2012 and 2013, against the Brazilian state and has deposited (or, in recent cases, is in the process of depositing) the respective state tax for these newly imported vessels. As of June 30, 2014, no accrual has been recorded for any liability associated with any potential future assessment for previous periods based on management’s assessment, after consultation with Brazilian counsel, that a liability for such taxes was not probable.

Nigeria Marketing Agent Litigation

On March 1, 2013, Tidewater filed suit in the London Commercial Court against Tidewater’s Nigerian marketing agent for breach of the agent’s obligations under contractual agreements between the parties. The alleged breach involves actions of the Nigerian marketing agent to discourage various affiliates of TOTAL S.A. from paying approximately $19 million (including Naira and U.S. dollar denominated invoices) due to the company for vessel services performed in Nigeria. Shortly after the London Commercial Court filing, TOTAL commenced interpleader proceedings in Nigeria naming the Nigerian agent and the company as respondents and seeking an order which would allow TOTAL to deposit those monies with a Nigerian court for the respondents to resolve. On April 25, 2013, Tidewater filed motions in the Nigerian Federal High Court to stop the interpleader proceedings in Nigeria or alternatively stay them until the resolution of the suit filed in London. The company will continue to actively pursue the collection of those monies. On April 30, 2013, the Nigerian marketing agent filed a separate suit in the Nigerian Federal High Court naming Tidewater and certain TOTAL affiliates as defendants. The suit seeks various declarations and orders, including a claim for the monies that are subject to

the above interpleader proceedings, and other relief. The company is seeking dismissal of this suit and otherwise intends to vigorously defend against the claims made. The company has not reserved for this receivable and believes that the ultimate resolution of this matter will not have a material effect on the consolidated financial statements.

In October, 2012, Tidewater had notified the Nigerian marketing agent that it was discontinuing its relationship with the Nigerian marketing agent. The company has entered into a new strategic relationship with a different Nigerian counterparty that it believes will better serve the company’s long term interests in Nigeria. This new strategic relationship is currently functioning as the company intended.

Venezuelan Operations

On February 16, 2010, Tidewater and certain of its subsidiaries (collectively, the “Claimants”) filed with the International Centre for Settlement of Investment Disputes (“ICSID”) a Request for Arbitration against the Bolivarian Republic of Venezuela. As previously reported by Tidewater, in May 2009 Petróleos de Venezuela, S.A. (“PDVSA”), the national oil company of Venezuela, took possession and control of (a) eleven of the Claimants’ vessels that were then supporting PDVSA operations in Lake Maracaibo, (b) the Claimants’ shore-based headquarters adjacent to Lake Maracaibo, (c) the Claimants’ operations in Lake Maracaibo, and (d) certain other related assets. The company also previously reported that in July 2009 Petrosucre, S.A., a subsidiary of PDVSA, took possession and control of the Claimants’ four vessels, operations, and related assets in the Gulf of Paria. It is Tidewater’s position that, through those measures, the Republic of Venezuela directly or indirectly expropriated the Claimants’ investments, including the capital stock of the Claimants’ principal operating subsidiary in Venezuela.

The Claimants alleged in the Request for Arbitration that each of the measures taken by the Republic of Venezuela against the Claimants violates the Republic of Venezuela’s obligations under the bilateral investment treaty with Barbados and rules and principles of Venezuelan law and international law. An arbitral tribunal was constituted under the ICSID Convention to resolve the dispute. The tribunal first addressed the Republic of Venezuela’s objections to the tribunal’s jurisdiction over the dispute. A hearing on jurisdiction was held in Washington, D.C. on February 29 and March 1, 2012.

On February 8, 2013, the tribunal issued its decision on jurisdiction. The tribunal found that it has jurisdiction over the claims under the Venezuela-Barbados bilateral investment treaty, including the claim for compensation for the expropriation of Tidewater’s principal operating subsidiary, but that it does not have jurisdiction based on Venezuela’s investment law. The practical effect of the tribunal’s decision is to exclude from the case the claims for expropriation of the fifteen vessels described above.

While the tribunal determined that it does not have jurisdiction over the claim for the seizure of the fifteen vessels, Tidewater received during fiscal 2011 insurance proceeds for the insured value of those vessels (less an additional premium payment triggered by those proceeds). Tidewater believes that the claims remaining in the case, over which the tribunal upheld jurisdiction, represent the most substantial portion of the overall value lost as a result of the measures taken by the Republic of Venezuela. Tidewater has discussed the nature of the insurance proceeds received for the fifteen vessels in previous quarterly and annual filings.

The tribunal has concluded the briefing and hearings to determine the merits of the claims over which the tribunal has jurisdiction. The final hearings on the merits were held in Washington, D.C. on June 9 -12, 2014. The merits phase will determine whether the Republic of Venezuela violated the Venezuela-Barbados bilateral investment treaty and will value the property expropriated by Venezuela. At the time of the expropriation, the principal operating subsidiary had sizeable accounts receivable from PDVSA and Petrosucre, denominated in both U.S. Dollars and Venezuelan Bolivars.

The next step is for the tribunal to issue its written determination on the merits. The time frame for issuance of that written determination by the tribunal is uncertain.

Legal Proceedings

Various legal proceedings and claims are outstanding which arose in the ordinary course of business. In the opinion of management, the amount of ultimate liability, if any, with respect to these actions, will not have a material adverse effect on the company’s financial position, results of operations, or cash flows. For additional information on certain of our ongoing legal proceedings, see Part II, Item 1: Legal Proceedings.

Fair_Value_Measurements

Fair Value Measurements	3 Months Ended
Fair Value Measurements	Jun. 30, 2014
Fair Value Measurements	'
	-8	FAIR VALUE MEASUREMENTS
	Assets and Liabilities Measured at Fair Value on a Recurring Basis
	The company measures on a recurring basis and records at fair value investments held by participants in a supplemental executive retirement plan. The following table provides the fair value hierarchy for the plan assets measured at fair value as of June 30, 2014:


	(In thousands)		Total					Quoted prices in					Significant				Significant
								active markets					observable				unobservable
								(Level 1)					inputs				inputs
													(Level 2)				(Level 3)
	Equity securities:
	Common stock			$	4,277					4,277					---				---
	Preferred stock				---					---					---				---
	Foreign stock				190					190					---				---
	American depository receipts				1,807					1,807					---				---
	Preferred American depository receipts				15					15					---				---
	Real estate investment trusts				40					40					---				---
	Debt securities:
	Government debt securities				2,002					1,426					576				---
	Open ended mutual funds				1,827					1,827					---				---
	Cash and cash equivalents				305					21					284				---
	Total			$	10,463					9,603					860				---
	Other pending transactions				(119	)				(119	)				---				---
	Total fair value of plan assets			$	10,344					9,484					860				---


	The following table provides the fair value hierarchy for the plan assets measured at fair value as of March 31, 2014:

	(In thousands)		Total					Quoted prices in					Significant				Significant
								active markets					observable				unobservable
								(Level 1)					inputs				inputs
													(Level 2)				(Level 3)
	Equity securities:
	Common stock			$	4,141					4,141					---				---
	Preferred stock				---					---					---				---
	Foreign stock				231					231					---				---
	American depository receipts				1,809					1,809					---				---
	Preferred American depository receipts				15					15					---				---
	Real estate investment trusts				38					38					---				---
	Debt securities:
	Government debt securities				1,975					1,363					612				---
	Open ended mutual funds				1,797					1,797					---				---
	Cash and cash equivalents				369					57					312				---
	Total			$	10,375					9,451					924				---
	Other pending transactions				(90	)				(90	)				---				---
	Total fair value of plan assets			$	10,285					9,361					924				---

	Other Financial Instruments
	The company’s primary financial instruments consist of cash and cash equivalents, trade receivables and trade payables with book values that are considered to be representative of their respective fair values. The company periodically utilizes derivative financial instruments to hedge against foreign currency denominated assets and liabilities, currency commitments, or to lock in desired interest rates. These transactions are generally spot or forward currency contracts or interest rate swaps that are entered into with major financial institutions. Derivative financial instruments are intended to reduce the company’s exposure to foreign currency exchange risk and interest rate risk. The company enters into derivative instruments only to the extent considered necessary to address its risk management objectives and does not use derivative contracts for speculative purposes. The derivative instruments are recorded at fair value using quoted prices and quotes obtainable from the counterparties to the derivative instruments.
	Cash Equivalents. The company’s cash equivalents, which are securities with maturities less than 90 days, are held in money market funds or time deposit accounts with highly rated financial institutions. The carrying value for cash equivalents is considered to be representative of its fair value due to the short duration and conservative nature of the cash equivalent investment portfolio.
	Spot Derivatives. Spot derivative financial instruments are short-term in nature and generally settle within two business days. The fair value of spot derivatives approximates the carrying value due to the short-term nature of this instrument, and as a result, no gains or losses are recognized.
	The company had two spot contracts outstanding at June 30, 2014 which had a notional value of $6.7 million and settled by July 2, 2014. The company had four foreign exchange spot contracts outstanding at March 31, 2014, which had a notional value of $2.3 million and settled by April 2, 2014.
	Forward Derivatives. Forward derivative financial instruments are generally longer-term in nature but generally do not exceed one year. The accounting for gains or losses on forward contracts is dependent on the nature of the risk being hedged and the effectiveness of the hedge. Forward contracts are valued using counterparty quotations, and we validate the information obtained from the counterparties in calculating the ultimate fair values using the market approach and obtaining broker quotations. As such, these derivative contracts are classified as Level 2.
	The company did not have any forward contracts outstanding at June 30, 2014 and March 31, 2014.
	The following table provides the fair value hierarchy for the company’s other financial instruments measured as of June 30, 2014:


	(In thousands)		Total					Quoted prices in					Significant				Significant
								active markets					observable				unobservable
								(Level 1)					inputs				inputs
													(Level 2)				(Level 3)
	Money market cash equivalents			$	1,876					1,876					---				---
	Total fair value of assets			$	1,876					1,876					---				---


The following table provides the fair value hierarchy for the company’s other financial instruments measured as of March 31, 2014:

(In thousands)		Total					Quoted prices in					Significant				Significant
							active markets					observable				unobservable
							(Level 1)					inputs				inputs
												(Level 2)				(Level 3)
Money market cash equivalents			$	16,559					16,559					---				---
Total fair value of assets			$	16,559					16,559					---				---

Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis
Asset Impairments
The company accounts for long-lived assets in accordance with ASC 360-10-35, Impairment or Disposal of Long-Lived Assets. The company reviews the vessels in its active fleet for impairment whenever events occur or changes in circumstances indicate that the carrying amount of an asset group may not be recoverable. In such evaluation the estimated future undiscounted cash flows generated by an asset group are compared with the carrying amount of the asset group to determine if a write-down may be required. Active, non-stacked vessels are grouped together for impairment testing purposes with vessels of similar operating and marketing characteristics. Active vessel groupings are also subdivided between older vessels and newer vessels.

The company estimates cash flows based upon historical data adjusted for the company’s best estimate of expected future market performance, which, in turn, is based on industry trends. If an asset group fails the undiscounted cash flow test, the company uses the discounted cash flow method to determine the estimated fair value of each asset group and compares such estimated fair value (considered Level 3, as defined by ASC 360) to the carrying value of each asset group in order to determine if impairment exists. If impairment exists, the carrying value of the asset group is reduced to its estimated fair value.
In addition to the periodic review of its active long-lived assets for impairment when circumstances warrant, the company also performs a review of its stacked vessels and vessels withdrawn from service every six months or whenever changes in circumstances indicate that the carrying amount of a vessel may not be recoverable. Management estimates each stacked vessel’s fair value by considering items such as the vessel’s age, length of time stacked, likelihood of a return to active service, actual recent sales of similar vessels, which are unobservable inputs. In certain situations we obtain an estimate of the fair value of the stacked vessel from third-party appraisers or brokers. The company records an impairment charge when the carrying value of a vessel withdrawn from service or a stacked vessel exceeds its estimated fair value. The estimates of fair value of stacked vessels are also subject to significant variability, are sensitive to changes in market conditions, and are reasonably likely to change in the future.
The below table summarizes the combined fair value of the assets that incurred impairments during the quarters ended June 30, 2014 and 2013, along with the amount of impairment. The impairment charges were recorded in gain on asset dispositions, net.


(In thousands)		June 30,				June 30,
(In thousands)		2014				2013
Amount of impairment incurred		$	950				3,872
Combined fair value of assets incurring impairment			220				4,305

Other_Assets_Accrued_Expenses_

Other Assets, Accrued Expenses, Other Current Liabilities and Other Liabilities and Deferred Credits	3 Months Ended
	Jun. 30, 2014
Other Assets, Accrued Expenses, Other Current Liabilities and Other Liabilities and Deferred Credits	'
	-9	OTHER ASSETS, ACCRUED EXPENSES, OTHER CURRENT LIABILITIES AND OTHER LIABILITIES AND DEFERRED CREDITS
	A summary of other assets at June 30, 2014 and March 31, 2014 is as follows:


	(In thousands)		June 30,		March 31,
	(In thousands)		2014		2014
	Recoverable insurance losses		$	2,081		5,219
	Deferred income tax assets			33,099		34,376
	Deferred finance charges – revolver			8,335		8,728
	Savings plans and supplemental plan			23,687		23,212
	Noncurrent tax receivable			9,106		9,106
	Other			16,443		15,744
			$	92,751		96,385


	A summary of accrued expenses at June 30, 2014 and March 31, 2014 is as follows:

	(In thousands)		June 30,		March 31,
	(In thousands)		2014		2014
	Payroll and related payables		$	28,754		27,248
	Commissions payable			6,785		8,263
	Accrued vessel expenses			87,252		96,468
	Accrued interest expense			2,956		14,816
	Other accrued expenses			5,608		10,507
			$	131,355		157,302


	A summary of other current liabilities at June 30, 2014 and March 31, 2014 is as follows:

	(In thousands)		June 30,		March 31,
	(In thousands)		2014		2014
	Taxes payable		$	55,415		56,080
	Deferred gain on vessel sales - current			15,514		13,996
	Other			560		491
			$	71,489		70,567


	A summary of other liabilities and deferred credits at June 30, 2014 and March 31, 2014 is as follows:


	(In thousands)		June 30,		March 31,
	(In thousands)		2014		2014
	Postretirement benefits liability		$	22,330		23,185
	Pension liabilities			37,146		35,234
	Deferred gain on vessel sales			89,642		85,316
	Other			35,638		35,469
			$	184,756		179,204

Accounting_Pronouncements

Accounting Pronouncements	3 Months Ended
	Jun. 30, 2014
Accounting Pronouncements	'
	-10	ACCOUNTING PRONOUNCEMENTS
	From time to time new accounting pronouncements are issued by the FASB that are adopted by the company as of the specified effective date. Unless otherwise discussed, management believes that the impact of recently issued standards, which are not yet effective, will not have a material impact on the company’s consolidated financial statements upon adoption.
	In May 2014, the FASB issued ASU 2014-09 Revenue from Contracts with Customers. ASU 2014-09 supersedes prior revenue recognition guidance and provides a five step recognition framework that will require entities to recognize the amount of revenue to which it expects to be entitled for the transfer of goods and services. This new revenue recognition guidance is effective for the company in the first quarter of fiscal 2018 and may be implemented retrospectively to all years presented or in the period of adoption through a cumulative adjustment. The company believes that the impact of the implementation of this new guidance on its consolidated financial statements and disclosures will not be significant.

Segment_and_Geographic_Distrib

Segment and Geographic Distribution Of Operations	3 Months Ended
Segment and Geographic Distribution Of Operations	Jun. 30, 2014
Segment and Geographic Distribution Of Operations	'
	-11	SEGMENT AND GEOGRAPHIC DISTRIBUTION OF OPERATIONS
	The following table provides a comparison of segment revenues, vessel operating profit, depreciation and amortization, and additions to properties and equipment for the quarters ended June 30, 2014 and 2013. Vessel revenues and operating costs relate to vessels owned and operated by the company while other operating revenues relate to the activities of the company’s shipyards (the remainder of which the company disposed of in the quarter ended June 30, 2013), remotely operated vehicles (ROVs), brokered vessels and other miscellaneous marine-related businesses.


			Quarter Ended
			June 30,
	(In thousands)		2014				2013
	Revenues:
	Vessel revenues:
	Americas		$	119,983				90,244
	Asia/Pacific			40,249				42,956
	Middle East/North Africa			55,539				41,213
	Sub-Saharan Africa/Europe			165,739				157,217
				381,510				331,630
	Other operating revenues			4,167				2,455
			$	385,677				334,085

	Vessel operating profit:
	Americas		$	30,208				20,301
	Asia/Pacific			(971	)			10,289
	Middle East/North Africa			11,793				10,123
	Sub-Saharan Africa/Europe			37,602				17,519
				78,632				58,232
	Other operating profit			(2,423	)			(392	)
				76,209				57,840

	Corporate general and administrative expenses			(12,332	)			(15,845	)
	Corporate depreciation			(816	)			(710	)
	Corporate expenses			(13,148	)			(16,555	)

	Gain on asset dispositions, net			2,943				2,140
	Operating income		$	66,004				43,425
	Foreign exchange loss			(1,289	)			(89	)
	Equity in net earnings of unconsolidated companies			5,283				4,420
	Interest income and other, net			622				740
	Interest and other debt costs, net			(13,129	)			(8,913	)
	Earnings before income taxes		$	57,491				39,583

	Depreciation and amortization:
	Americas		$	11,408				10,110
	Asia/Pacific			4,386				4,525
	Middle East/North Africa			6,582				5,606
	Sub-Saharan Africa/Europe			19,049				19,155
				41,425				39,396
	Other			870				2
	Corporate			816				710
			$	43,111				40,108

	Additions to properties and equipment:
	Americas		$	16,238				3,194
	Asia/Pacific			73				515
	Middle East/North Africa			430				139
	Sub-Saharan Africa/Europe (A)			2,575				336,471
				19,316				340,319
	Other			4,036				---
	Corporate (B)			21,746				61,850
			$	45,098				402,169


	(A)	Included in Sub-Saharan Africa/Europe for the quarter ended June 30, 2013 is $245.6 million related to vessels acquired through the acquisition of Troms Offshore.

	(B)	Included in Corporate are additions to properties and equipment relating to vessels currently under construction which have not yet been assigned to a non-corporate reporting segment as of the dates presented.

The following table provides a comparison of total assets at June 30, 2014 and March 31, 2014:


(In thousands)		June 30,				March 31,
(In thousands)		2014				2014
Total assets:
Americas		$	1,101,797				1,017,736
Asia/Pacific			445,919				421,379
Middle East/North Africa			603,971				613,303
Sub-Saharan Africa/Europe			2,293,931				2,383,507
			4,445,618				4,435,925
Other			36,276				31,545
			4,481,894				4,467,470
Investments in, at equity, and advances to unconsolidated companies			67,926				63,928
			4,549,820				4,531,398
Corporate (A)			381,024				354,431
		$	4,930,844				4,885,829

Note A: Included in Corporate are vessels currently under construction which have not yet been assigned to a non-corporate reporting segment. A vessel’s construction costs are reported in Corporate until the earlier of the date the vessels is assigned to a non-corporate reporting segment or the date it is delivered. At June 30, 2014 and March 31, 2014, $250.1 million and $228.9 million, respectively, of vessel construction costs are included in Corporate.
The following table discloses the amount of revenue by segment, and in total for the worldwide fleet, along with the respective percentage of total vessel revenue for the quarters ended June 30, 2014 and 2013:


		Quarter Ended June 30,
Revenue by vessel class:		2014					% of Vessel			2013		% of Vessel
(In thousands):		2014					Revenue			2013		Revenue
Americas fleet:
Deepwater			$	82,282					21%		55,032		17%
Towing-supply				29,517					8%		27,670		8%
Other				8,184					2%		7,542		2%
Total			$	119,983					31%		90,244		27%
Asia/Pacific fleet:
Deepwater			$	24,242					7%		24,292		7%
Towing-supply				15,037					4%		17,722		6%
Other				970					<1%		942		<1%
Total			$	40,249					11%		42,956		13%
Middle East/North Africa fleet:
Deepwater			$	19,467					5%		15,852		5%
Towing-supply				35,279					9%		24,497		7%
Other				793					<1%		864		<1%
Total			$	55,539					15%		41,213		13%
Sub-Saharan Africa/Europe fleet:
Deepwater			$	91,691					24%		87,251		26%
Towing-supply				55,436					14%		54,860		17%
Other				18,612					5%		15,106		4%
Total			$	165,739					43%		157,217		47%
Worldwide fleet:
Deepwater			$	217,682					57%		182,427		55%
Towing-supply				135,269					35%		124,749		38%
Other				28,559					8%		24,454		7%
Total			$	381,510					100%		331,630		100%

Goodwill

Goodwill	3 Months Ended
Goodwill	Jun. 30, 2014
Goodwill	'
	-12	GOODWILL
	The company tests goodwill for impairment annually at the reporting unit level using carrying amounts as of December 31 or more frequently if events and circumstances indicate that goodwill might be impaired.
	The company performed its most recent annual goodwill impairment assessment during the quarter ended December 31, 2013 and determined that the carrying value of its Asia/Pacific unit exceeded its fair value as a result of the general decline in the level of business and, therefore, expected future cash flow for the company in this region. The Asia/Pacific region continues to be challenged with an excess capacity of vessels as a result of the significant number of vessels that have been built in this region over the past 10 years, without a commensurate increase in working rig count within the region. In recent years, the company has both disposed of older vessels that previously worked in the region and transferred vessels out of the region to other regions where market opportunities are currently more robust. In accordance with ASC 350 goodwill is not reallocated based on vessel movements. A goodwill impairment charge of $56.3 million was recorded during the quarter ended December 31, 2013.
	During the first quarter of fiscal 2014, $42.2 million of goodwill related to the acquisition of Troms Offshore was allocated to the Sub-Saharan Africa/Europe segment.
	Goodwill by reportable segment at June 30, 2014 and 2013 is as follows:


	(In thousands)		March 31,		Goodwill acquired		Impairments		June 30,
	(In thousands)		2014		Goodwill acquired		Impairments		2014
	Americas		$	114,237		---		---		114,237
	Sub-Saharan Africa/Europe			169,462		---		---		169,462
	Total carrying amount (A)		$	283,699		---		---		283,699


	(In thousands)		March 31,		Goodwill acquired		Impairments		June 30,
	(In thousands)		2013		Goodwill acquired		Impairments		2013
	Americas		$	114,237		---		---		114,237
	Asia/Pacific			56,283		---		---		56,283
	Sub-Saharan Africa/Europe			127,302		42,160		---		169,462
	Total carrying amount (B)		$	297,822		42,160		---		339,982


		(A)	The total carrying amount of goodwill at June 30, 2014 is net of accumulated impairment charges $30.9 million and $56.3 million related to the Middle East/North Africa and Asia/Pacific segments, respectively.

		(B)	The total carrying amount of goodwill at June 30, 2013 is net of accumulated impairment charges $30.9 million related to the Middle East/North Africa segment.

SaleLeaseback_Arrangements

Sale/Leaseback Arrangements	3 Months Ended
Sale/Leaseback Arrangements	Jun. 30, 2014
Sale/Leaseback Arrangements	'
	-13	SALE/LEASEBACK ARRANGEMENTS
	During the first quarter of fiscal 2015, the company sold one vessel to an unrelated third party, and simultaneously entered into bareboat charter agreements with the purchaser. The sale/leaseback transaction resulted in proceeds to the company of $13.4 million and a deferred gain of $9.4 million. The carrying value of the vessel was $4.0 million at the date of sale. The lease will expire in the quarter ending June 2021. Under the sale/leaseback agreement the company has the right to re-acquire the vessel at 61% of the original sales price at the end of the sixth year, deliver the vessel to the owner at the end of the lease term, purchase the vessel at its then fair market value at the end of the lease term or extend the lease for 24 months at mutually agreeable lease rates.
	The company is accounting for this transaction as a sale/leaseback with operating lease treatment and will expense lease payments over the lease term. The deferred gain will be amortized to gain on asset dispositions, net ratably over the respective lease term. Any deferred gain balance remaining upon the repurchase of the vessel would reduce the vessels’ stated cost if the company elected to exercise the purchase options.

	As of June 30, 2014, the future minimum lease payments for this sale/leaseback are as follows:


	Fiscal year ending		Amount
	Fiscal year ending		(In thousands)
	Remaining nine-months of 2015			$	804
	2016				1,072
	2017				1,072
	2018				1,191
	2019				1,310
	Thereafter				2,620
	Total future lease payments			$	8,069

Acquisition

Acquisition	3 Months Ended
Acquisition	Jun. 30, 2014
Acquisition	'
	-14	ACQUISITION
	Troms Offshore Supply AS
	On June 4, 2013, the company, through a subsidiary, acquired Troms Offshore Supply AS, a Norwegian company (Troms Offshore). At the time of the acquisition, Troms Offshore owned four deepwater PSVs, and had two additional deepwater PSVs under construction, one of which was delivered shortly after the acquisition and the other delivered in January 2014. The purchase price (not including transaction costs) consisted of a $150.0 million cash payment to the shareholders of Troms Offshore and the assumption of approximately $261.3 million of combined Troms Offshore obligations, comprised of net interest-bearing debt and the remaining installment payments due on vessels under construction. The company has performed a fair value analysis and the purchase price was allocated to the acquired assets and liabilities based on their fair values resulting in $42.2 million of goodwill, all of which was allocated to our Sub-Saharan Africa/Europe segment.
	The following table summarizes the allocation of the purchase price for the acquisition of Troms Offshore:


	(In thousands)
	Cash		$	22,263
	Trade receivables and other current assets			9,816
	Vessels			245,605
	Goodwill			42,160
	Payable and other liabilities			(13,020	)
	Notes payable			(156,824	)
	Total purchase price		$	150,000

Stockholders_Equity_Tables

Stockholders' Equity (Tables)	3 Months Ended
Stockholders' Equity (Tables)	Jun. 30, 2014
Schedule of Dividends Declared	'
	The Board of Directors declared the following dividends for the quarters ended June 30:


					Quarter Ended
					June 30,
	(In thousands, except dividend per share)				2014		2013
	Dividends declared	$				12,589		12,499
	Dividend per share					0.25		0.25
Changes in Accumulated Other Comprehensive Income by Component, Net of Tax	'
	The changes in accumulated other comprehensive income by component, net of tax for the quarter ended June 30, 2014 and 2013 are as follows:


		For the quarter ended June 30, 2013												For the quarter ended June 30, 2014
	(in thousands)	Balance			Gains/(losses)		Reclasses		Net		Remaining			Balance			Gains/(losses)		Reclasses		Net		Remaining
		at			recognized		from OCI to		period		balance			at			recognized		from OCI to		period		balance
		3/31/13			in OCI		net income		OCI		6/30/13			3/31/14			in OCI		net income		OCI		6/30/14
	Available for sale securities		(121	)		31		80		111		(10	)		92			31		70		101		193
	Currency translation adjustment		(9,811	)		---		---		---		(9,811	)		(9,811	)		---		---		---		(9,811	)
	Pension/Post-retirement benefits		(4,353	)		---		---		---		(4,353	)		(116	)		131		---		131		15
	Interest rate swap		(2,856	)		---		117		117		(2,739	)		(2,390	)		---		116		116		(2,274	)
	Total		(17,141	)		31		197		228		(16,913	)		(12,225	)		162		186		348		(11,877	)

Reclassifications from Accumulated Other Comprehensive Loss to Condensed Consolidated Statement of Income	'
	The following table summarizes the reclassifications from accumulated other comprehensive loss to the condensed consolidated statement of income for the quarters ended June 30, 2014 and 2013:


					Quarter Ended				Affected line item in the condensed
					June 30,				Affected line item in the condensed
	(In thousands)				2014		2013		consolidated statements of income
	Realized gains on available for sale securities	$				108		123	Interest income and other, net
	Amortization of interest rate swap					178		180	Interest and other debt costs, net
	Total pre-tax amounts					286		303
	Tax effect					100		106
	Total gains for the period, net of tax	$				186		197

Income_Taxes_Tables

Income Taxes (Tables)

3 Months Ended

Jun. 30, 2014

Schedule of Effective Tax Rate Applicable to Pre-Tax Earnings

The effective tax rate applicable to pre-tax earnings, for the quarters ended June 30 is as follows:

Quarter Ended

June 30,

2014

2013

Effective tax rate applicable to pre-tax earnings

24.0%

Schedule of Uncertain Tax Positions and Income Tax Payable

The company’s balance sheet at June 30, 2014 reflects the following in accordance with Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) 740, Income Taxes:

(In thousands)

June 30,

2014

Tax liabilities for uncertain tax positions

19,147

Income tax payable

38,353

Schedule of Unrecognized Tax Benefits Which Would Lower Effective Tax Rate if Realized

Unrecognized tax benefits, which would lower the effective tax rate if realized at June 30, 2014, are as follows:

(In thousands)

June 30,

2014

Unrecognized tax benefit related to state tax issues

11,230

Interest receivable on unrecognized tax benefit related to state tax issues

Employee_Benefit_Plans_Tables

Employee Benefit Plans (Tables)	3 Months Ended
Employee Benefit Plans (Tables)	Jun. 30, 2014
Schedule of Carrying Value of Trust Assets, Including Unrealized Gains or Losses	'
	The following table summarizes the carrying value of the trust assets, including unrealized gains or losses at June 30, 2014 and March 31, 2014:


	(In thousands)	June 30,		March 31,
	(In thousands)	2014		2014
	Investments held in Rabbi Trust	$	10,344		10,285
	Unrealized gains (losses) in fair value of trust assets		193		92
	Unrealized gains (losses) in fair value of trust assets are net of income tax expense of		104		49
	Obligations under the supplemental plan		22,354		21,918
Schedule of Net Periodic Benefit Cost	'
	The net periodic benefit cost for the company’s U.S. defined benefit pension plan and the supplemental plan (referred to collectively as “Pension Benefits”) and the postretirement health care and life insurance plan (referred to collectively as “Other Benefits”) is comprised of the following components:


		Quarter Ended
		June 30,
	(In thousands)	2014		2013
	Pension Benefits:
	Service cost	$	206		198
	Interest cost		968		895
	Expected return on plan assets		(685)		(718)
	Amortization of prior service cost		12		12
	Recognized actuarial loss		247		276
	Net periodic benefit cost	$	748		663

	Other Benefits:
	Service cost	$	68		101
	Interest cost		226		262
	Amortization of prior service cost		(508)		(508)
	Recognized actuarial benefit		(325)		(99)
	Net periodic benefit cost	$	(539)		(244)

Indebtedness_Tables

Indebtedness (Tables)	3 Months Ended
Indebtedness (Tables)	Jun. 30, 2014
Summary of Debt Outstanding	'
	A summary of debt outstanding at June 30, 2014 and March 31, 2014, are as follows:


	(In thousands, except weighted average data)	June 30,			March 31,
	(In thousands, except weighted average data)	2014			2014
	Credit facility:
	Term loan agreement (A)	$	300,000			300,000
	Revolving line of credit (A) (B)		---			---
	September 2013 senior unsecured notes:
	Aggregate debt outstanding	$	500,000			500,000
	Weighted average remaining life in years		9.2			9.4
	Weighted average coupon rate on notes outstanding		4.86	%		4.86	%
	Fair value of debt outstanding (Level 2)	$	522,988			520,979
	August 2011 senior unsecured notes:
	Aggregate debt outstanding	$	165,000			165,000
	Weighted average remaining life in years		6.3			6.6
	Weighted average coupon rate on notes outstanding		4.42	%		4.42	%
	Fair value of debt outstanding (Level 2)	$	170,332			168,653
	September 2010 senior unsecured notes:
	Aggregate debt outstanding	$	425,000			425,000
	Weighted average remaining life in years		5.4			5.6
	Weighted average coupon rate on notes outstanding		4.25	%		4.25	%
	Fair value of debt outstanding (Level 2)	$	438,074			436,264
	July 2003 senior unsecured notes:
	Aggregate debt outstanding	$	35,000			35,000
	Weighted average remaining life in years		1.1			1.3
	Weighted average coupon rate on notes outstanding		4.61	%		4.61	%
	Fair value of debt outstanding (Level 2)	$	35,866			36,018
	(A) Fair values approximate carrying values because the borrowings bear interest at variable rates.
	(B) $600.0 million was available under the revolver at June 30, 2014 and March 31, 2014.
Debt Costs	'
	Interest and debt costs incurred, net of interest capitalized, for the quarter periods ended June 30, are as follows:


					Quarter Ended
					June 30,
	(In thousands)				2014			2013
	Interest and debt costs incurred, net of interest capitalized	$				13,129			8,913
	Interest costs capitalized					2,872			2,963
	Total interest and debt costs	$				16,001			11,876

Norwegian Kroner (NOK) Denominated Borrowings	'
Summary of Debt Outstanding	'
	A summary of the Norwegian Kroner (NOK) denominated borrowings outstanding at June 30, 2014 and March 31, 2014, and their U.S. dollar equivalents are as follows:


	(In thousands)	June 30,			March 31,
	(In thousands)	2014			2014
	3.81% January 2014 notes:
	NOK denominated		300,000			300,000
	U.S. dollar equivalent	$	50,265			50,028
	Fair value in U.S. dollar equivalent (Level 2)		50,302			50,044
	5.38% May 2012 notes:
	NOK denominated		170,400			178,920
	U.S. dollar equivalent	$	28,550			29,867
	Fair value in U.S. dollar equivalent (Level 2)		28,467			29,588
	Variable rate borrowings:
	June 2013 borrowing agreement (C)
	NOK denominated		25,000			25,000
	U.S. dollar equivalent	$	4,188			4,168
	May 2012 borrowing agreement (C)
	NOK denominated		20,000			35,000
	U.S. dollar equivalent	$	3,351			5,837
	(C) Fair values approximate carrying values because the borrowings bear interest at variable rates.

Earnings_per_Share_Tables

Earnings per Share (Tables)	3 Months Ended
Earnings per Share (Tables)	Jun. 30, 2014
Components of Basic and Diluted Earnings Per Share	'
	The components of basic and diluted earnings per share for the quarters ended June 30, are as follows:


		Quarter Ended
		June 30,
	(In thousands, except share and per share data)	2014		2013
	Net Income available to common shareholders (A)	$	43,673		30,083
	Weighted average outstanding shares of common stock, basic (B)		49,580,038		49,226,911
	Dilutive effect of options and restricted stock awards and units		282,986		331,090
	Weighted average common stock and equivalents (C)		49,863,024		49,558,001

	Earnings per share, basic (A/B)	$	0.88		0.61
	Earnings per share, diluted (A/C)	$	0.88		0.61
	Additional information:
	Antidilutive incremental options and restricted stock awards and units		---		17,755

Commitments_and_Contingencies_

Commitments and Contingencies (Tables)	3 Months Ended
Commitments and Contingencies (Tables)	Jun. 30, 2014
Schedule of Vessel Commitments to Acquire and Construct New Vessels and ROVs, by Vessel Type	'
	The table below summarizes the company’s various vessel commitments to acquire and construct new vessels and ROVs, by vessel type, as of June 30, 2014:


	(In thousands, except vessel count)	Number	Total		Invested		Remaining
		of	Cost		Through		Balance
		Vessels/ROVs			6/30/14		6/30/14
	Vessels under construction:
	Deepwater PSVs	26	$	843,784		230,331		613,453
	Towing-supply vessels	6		116,143		55,909		60,234
	Other	1		8,014		8,014		---
	Total vessel commitments	33		967,941		294,254		673,687
	Total ROV commitments	2		14,980		3,694		11,286
	Total commitments	35	$	982,921		297,948		684,973

Fair_Value_Measurements_Tables

Fair Value Measurements (Tables)	3 Months Ended
Fair Value Measurements (Tables)	Jun. 30, 2014
Schedule of Fair Value Assets Measurement	'
	The following table provides the fair value hierarchy for the plan assets measured at fair value as of June 30, 2014:


	(In thousands)	Total					Quoted prices in			Significant		Significant
							active markets			observable		unobservable
							(Level 1)			inputs		inputs
										(Level 2)		(Level 3)
	Equity securities:
	Common stock		$	4,277				4,277			---		---
	Preferred stock			---				---			---		---
	Foreign stock			190				190			---		---
	American depository receipts			1,807				1,807			---		---
	Preferred American depository receipts			15				15			---		---
	Real estate investment trusts			40				40			---		---
	Debt securities:
	Government debt securities			2,002				1,426			576		---
	Open ended mutual funds			1,827				1,827			---		---
	Cash and cash equivalents			305				21			284		---
	Total		$	10,463				9,603			860		---
	Other pending transactions			(119	)			(119	)		---		---
	Total fair value of plan assets		$	10,344				9,484			860		---


	The following table provides the fair value hierarchy for the plan assets measured at fair value as of March 31, 2014:

	(In thousands)	Total					Quoted prices in			Significant		Significant
							active markets			observable		unobservable
							(Level 1)			inputs		inputs
										(Level 2)		(Level 3)
	Equity securities:
	Common stock		$	4,141				4,141			---		---
	Preferred stock			---				---			---		---
	Foreign stock			231				231			---		---
	American depository receipts			1,809				1,809			---		---
	Preferred American depository receipts			15				15			---		---
	Real estate investment trusts			38				38			---		---
	Debt securities:
	Government debt securities			1,975				1,363			612		---
	Open ended mutual funds			1,797				1,797			---		---
	Cash and cash equivalents			369				57			312		---
	Total		$	10,375				9,451			924		---
	Other pending transactions			(90	)			(90	)		---		---
	Total fair value of plan assets		$	10,285				9,361			924		---

Schedule of Fair Value Other Financial Instruments Measured	'
	The following table provides the fair value hierarchy for the company’s other financial instruments measured as of June 30, 2014:


	(In thousands)	Total					Quoted prices in			Significant		Significant
							active markets			observable		unobservable
							(Level 1)			inputs		inputs
										(Level 2)		(Level 3)
	Money market cash equivalents		$	1,876				1,876			---		---
	Total fair value of assets		$	1,876				1,876			---		---


	The following table provides the fair value hierarchy for the company’s other financial instruments measured as of March 31, 2014:

	(In thousands)	Total					Quoted prices in			Significant		Significant
							active markets			observable		unobservable
							(Level 1)			inputs		inputs
										(Level 2)		(Level 3)
	Money market cash equivalents		$	16,559				16,559			---		---
	Total fair value of assets		$	16,559				16,559			---		---

Summary of Gain on Assets Disposition	'
	The below table summarizes the combined fair value of the assets that incurred impairments during the quarters ended June 30, 2014 and 2013, along with the amount of impairment. The impairment charges were recorded in gain on asset dispositions, net.


	(In thousands)	June 30,				June 30,
	(In thousands)	2014				2013
	Amount of impairment incurred	$	950				3,872
	Combined fair value of assets incurring impairment		220				4,305

Other_Assets_Accrued_Expenses_1

Other Assets, Accrued Expenses, Other Current Liabilities and Other Liabilities and Deferred Credits (Tables)	3 Months Ended
	Jun. 30, 2014
Schedule Of Other Assets	'
	A summary of other assets at June 30, 2014 and March 31, 2014 is as follows:


	(In thousands)	June 30,		March 31,
	(In thousands)	2014		2014
	Recoverable insurance losses	$	2,081		5,219
	Deferred income tax assets		33,099		34,376
	Deferred finance charges – revolver		8,335		8,728
	Savings plans and supplemental plan		23,687		23,212
	Noncurrent tax receivable		9,106		9,106
	Other		16,443		15,744
		$	92,751		96,385

Schedule of Accrued Expenses	'
	A summary of accrued expenses at June 30, 2014 and March 31, 2014 is as follows:

	(In thousands)	June 30,		March 31,
	(In thousands)	2014		2014
	Payroll and related payables	$	28,754		27,248
	Commissions payable		6,785		8,263
	Accrued vessel expenses		87,252		96,468
	Accrued interest expense		2,956		14,816
	Other accrued expenses		5,608		10,507
		$	131,355		157,302
Schedule of Other Current Liabilities	'

	A summary of other current liabilities at June 30, 2014 and March 31, 2014 is as follows:

	(In thousands)	June 30,		March 31,
	(In thousands)	2014		2014
	Taxes payable	$	55,415		56,080
	Deferred gain on vessel sales - current		15,514		13,996
	Other		560		491
		$	71,489		70,567

Schedule of Other Liabilities and Deferred Credits	'
	A summary of other liabilities and deferred credits at June 30, 2014 and March 31, 2014 is as follows:


	(In thousands)	June 30,		March 31,
	(In thousands)	2014		2014
	Postretirement benefits liability	$	22,330		23,185
	Pension liabilities		37,146		35,234
	Deferred gain on vessel sales		89,642		85,316
	Other		35,638		35,469
		$	184,756		179,204

Segment_and_Geographic_Distrib1

Segment and Geographic Distribution Of Operations (Tables)	3 Months Ended
Segment and Geographic Distribution Of Operations (Tables)	Jun. 30, 2014
Segment Information, Geographical Data and Major Customers	'
	The following table provides a comparison of segment revenues, vessel operating profit, depreciation and amortization, and additions to properties and equipment for the quarters ended June 30, 2014 and 2013. Vessel revenues and operating costs relate to vessels owned and operated by the company while other operating revenues relate to the activities of the company’s shipyards (the remainder of which the company disposed of in the quarter ended June 30, 2013), remotely operated vehicles (ROVs), brokered vessels and other miscellaneous marine-related businesses.


			Quarter Ended
			June 30,
	(In thousands)		2014			2013
	Revenues:
	Vessel revenues:
	Americas		$	119,983			90,244
	Asia/Pacific			40,249			42,956
	Middle East/North Africa			55,539			41,213
	Sub-Saharan Africa/Europe			165,739			157,217
				381,510			331,630
	Other operating revenues			4,167			2,455
			$	385,677			334,085

	Vessel operating profit:
	Americas		$	30,208			20,301
	Asia/Pacific			(971	)		10,289
	Middle East/North Africa			11,793			10,123
	Sub-Saharan Africa/Europe			37,602			17,519
				78,632			58,232
	Other operating profit			(2,423	)		(392	)
				76,209			57,840

	Corporate general and administrative expenses			(12,332	)		(15,845	)
	Corporate depreciation			(816	)		(710	)
	Corporate expenses			(13,148	)		(16,555	)

	Gain on asset dispositions, net			2,943			2,140
	Operating income		$	66,004			43,425
	Foreign exchange loss			(1,289	)		(89	)
	Equity in net earnings of unconsolidated companies			5,283			4,420
	Interest income and other, net			622			740
	Interest and other debt costs, net			(13,129	)		(8,913	)
	Earnings before income taxes		$	57,491			39,583

	Depreciation and amortization:
	Americas		$	11,408			10,110
	Asia/Pacific			4,386			4,525
	Middle East/North Africa			6,582			5,606
	Sub-Saharan Africa/Europe			19,049			19,155
				41,425			39,396
	Other			870			2
	Corporate			816			710
			$	43,111			40,108

	Additions to properties and equipment:
	Americas		$	16,238			3,194
	Asia/Pacific			73			515
	Middle East/North Africa			430			139
	Sub-Saharan Africa/Europe (A)			2,575			336,471
				19,316			340,319
	Other			4,036			---
	Corporate (B)			21,746			61,850
			$	45,098			402,169


	(A)	Included in Sub-Saharan Africa/Europe for the quarter ended June 30, 2013 is $245.6 million related to vessels acquired through the acquisition of Troms Offshore.

	(B)	Included in Corporate are additions to properties and equipment relating to vessels currently under construction which have not yet been assigned to a non-corporate reporting segment as of the dates presented.
Comparison of Total Assets	'
	The following table provides a comparison of total assets at June 30, 2014 and March 31, 2014:


	(In thousands)		June 30,			March 31,
	(In thousands)		2014			2014
	Total assets:
	Americas		$	1,101,797			1,017,736
	Asia/Pacific			445,919			421,379
	Middle East/North Africa			603,971			613,303
	Sub-Saharan Africa/Europe			2,293,931			2,383,507
				4,445,618			4,435,925
	Other			36,276			31,545
				4,481,894			4,467,470
	Investments in, at equity, and advances to unconsolidated companies			67,926			63,928
				4,549,820			4,531,398
	Corporate (A)			381,024			354,431
			$	4,930,844			4,885,829

	Note A: Included in Corporate are vessels currently under construction which have not yet been assigned to a non-corporate reporting segment. A vessel’s construction costs are reported in Corporate until the earlier of the date the vessels is assigned to a non-corporate reporting segment or the date it is delivered. At June 30, 2014 and March 31, 2014, $250.1 million and $228.9 million, respectively, of vessel construction costs are included in Corporate.
Schedule of Segment Reporting Information, Revenue by Vessel Class	'
	The following table discloses the amount of revenue by segment, and in total for the worldwide fleet, along with the respective percentage of total vessel revenue for the quarters ended June 30, 2014 and 2013:


			Quarter Ended June 30,
	Revenue by vessel class:		2014				% of Vessel			2013		% of Vessel
	(In thousands):		2014				Revenue			2013		Revenue
	Americas fleet:
	Deepwater			$	82,282				21%		55,032		17%
	Towing-supply				29,517				8%		27,670		8%
	Other				8,184				2%		7,542		2%
	Total			$	119,983				31%		90,244		27%
	Asia/Pacific fleet:
	Deepwater			$	24,242				7%		24,292		7%
	Towing-supply				15,037				4%		17,722		6%
	Other				970				<1%		942		<1%
	Total			$	40,249				11%		42,956		13%
	Middle East/North Africa fleet:
	Deepwater			$	19,467				5%		15,852		5%
	Towing-supply				35,279				9%		24,497		7%
	Other				793				<1%		864		<1%
	Total			$	55,539				15%		41,213		13%
	Sub-Saharan Africa/Europe fleet:
	Deepwater			$	91,691				24%		87,251		26%
	Towing-supply				55,436				14%		54,860		17%
	Other				18,612				5%		15,106		4%
	Total			$	165,739				43%		157,217		47%
	Worldwide fleet:
	Deepwater			$	217,682				57%		182,427		55%
	Towing-supply				135,269				35%		124,749		38%
	Other				28,559				8%		24,454		7%
	Total			$	381,510				100%		331,630		100%

Goodwill_Tables

Goodwill (Tables)	3 Months Ended
Goodwill (Tables)	Jun. 30, 2014
Schedule of Goodwill by Reportable Segment	'
	Goodwill by reportable segment at June 30, 2014 and 2013 is as follows:


	(In thousands)		March 31,		Goodwill acquired		Impairments		June 30,
	(In thousands)		2014		Goodwill acquired		Impairments		2014
	Americas		$	114,237		---		---		114,237
	Sub-Saharan Africa/Europe			169,462		---		---		169,462
	Total carrying amount (A)		$	283,699		---		---		283,699


	(In thousands)		March 31,		Goodwill acquired		Impairments		June 30,
	(In thousands)		2013		Goodwill acquired		Impairments		2013
	Americas		$	114,237		---		---		114,237
	Asia/Pacific			56,283		---		---		56,283
	Sub-Saharan Africa/Europe			127,302		42,160		---		169,462
	Total carrying amount (B)		$	297,822		42,160		---		339,982


		(A)	The total carrying amount of goodwill at June 30, 2014 is net of accumulated impairment charges $30.9 million and $56.3 million related to the Middle East/North Africa and Asia/Pacific segments, respectively.

		(B)	The total carrying amount of goodwill at June 30, 2013 is net of accumulated impairment charges $30.9 million related to the Middle East/North Africa segment.

SaleLeaseback_Arrangements_Tab

Sale/Leaseback Arrangements (Tables)	3 Months Ended
Sale/Leaseback Arrangements (Tables)	Jun. 30, 2014
Schedule of Future Minimum Lease Payments	'
	As of June 30, 2014, the future minimum lease payments for this sale/leaseback are as follows:


	Fiscal year ending	Amount
	Fiscal year ending	(In thousands)
	Remaining nine-months of 2015		$	804
	2016			1,072
	2017			1,072
	2018			1,191
	2019			1,310
	Thereafter			2,620
	Total future lease payments		$	8,069

Acquisition_Tables

Acquisition (Tables)	3 Months Ended
Acquisition (Tables)	Jun. 30, 2014
Allocation of Purchase Price for Acquisition	'
	The following table summarizes the allocation of the purchase price for the acquisition of Troms Offshore:


	(In thousands)
	Cash	$	22,263
	Trade receivables and other current assets		9,816
	Vessels		245,605
	Goodwill		42,160
	Payable and other liabilities		(13,020	)
	Notes payable		(156,824	)
	Total purchase price	$	150,000

Stockholders_Equity_Additional

Stockholders' Equity - Additional Information (Detail) (USD $)	1 Months Ended		3 Months Ended
In Millions, unless otherwise specified	21-May-14	31-May-13	Jun. 30, 2014
	May 2014 Authorized Amount	May 2013 Authorized Amount	May 2013 Authorized Amount
Stockholders Equity Note [Line Items]	'	'	'
Amount authorized to repurchase shares	$200	$200	'
Number of shares repurchased	'	'	0

Schedule_of_Dividends_Declared

Schedule of Dividends Declared (Detail) (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013
Stockholders' Equity [Abstract]	'	'
Dividends declared	$12,589	$12,499
Dividend per share	$0.25	$0.25

Changes_in_Accumulated_Other_C

Changes in Accumulated Other Comprehensive Income by Component, Net of Tax (Detail) (USD $)

3 Months Ended

In Thousands, unless otherwise specified

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Mar. 31, 2014

Jun. 30, 2013

Mar. 31, 2013

Jun. 30, 2014

Jun. 30, 2013

Mar. 31, 2013

Jun. 30, 2014

Jun. 30, 2013

Available for Sale Securities

Currency Translation Adjustments

Pension/Post-retirement Benefits

Interest Rate Swaps

Accumulated Other Comprehensive Income (Loss) [Line Items]

Accumulated other comprehensive income, beginning balance

($12,225)

($17,141)

$92

($121)

($9,811)

($116)

($4,353)

($2,390)

($2,856)

Gains/(losses) recognized in OCI

162

131

Reclasses from OCI to net income

186

197

116

117

Net period OCI

348

228

101

111

131

116

117

Accumulated other comprehensive income, ending balance

($11,877)

($16,913)

$193

($10)

($9,811)

$15

($4,353)

($2,274)

($2,739)

Reclassifications_from_Accumul

Reclassifications from Accumulated Other Comprehensive Loss to Condensed Consolidated Statement of Income (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]	'	'
Interest income and other, net	$622	$740
Interest and other debt costs, net	-13,129	-8,913
Total pre-tax amounts	57,491	39,583
Tax effect	13,792	9,500
Net earnings	43,673	30,083
Reclassification out of Accumulated Other Comprehensive Income	'	'
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]	'	'
Total pre-tax amounts	286	303
Tax effect	100	106
Net earnings	186	197
Reclassification out of Accumulated Other Comprehensive Income \| Available for Sale Securities	'	'
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]	'	'
Interest income and other, net	108	123
Reclassification out of Accumulated Other Comprehensive Income \| Interest Rate Swaps	'	'
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]	'	'
Interest and other debt costs, net	$178	$180

Schedule_of_Effective_Tax_Rate

Schedule of Effective Tax Rate Applicable to Pre-Tax Earnings (Detail)	3 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Schedule of Effective Tax Rate Reconciliation [Line Items]	'	'
Effective tax rate applicable to pre-tax earnings	24.00%	24.00%

Income_Taxes_Additional_Inform

Income Taxes - Additional Information (Detail)	3 Months Ended
Income Taxes - Additional Information (Detail)	Jun. 30, 2014	Jun. 30, 2013
Income Tax [Line Items]	'	'
Federal statutory tax rate	35.00%	35.00%
Effective tax rate	24.00%	24.00%

Schedule_of_Uncertain_Tax_Posi

Schedule of Uncertain Tax Positions and Income Tax Payable (Detail) (USD $)	Jun. 30, 2014
In Thousands, unless otherwise specified	Jun. 30, 2014
Income Tax [Line Items]	'
Tax liabilities for uncertain tax positions	$19,147
Income tax payable	$38,353

Schedule_of_Unrecognized_Tax_B

Schedule of Unrecognized Tax Benefits Which Would Lower Effective Tax Rate if Realized (Detail) (State and Local Jurisdiction, USD $)	3 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014
State and Local Jurisdiction	'
Income Tax Contingency [Line Items]	'
Unrecognized tax benefit related to state tax issues	$11,230
Interest receivable on unrecognized tax benefit related to state tax issues	$26

Employee_Benefit_Plans_Additio

Employee Benefit Plans - Additional Information (Detail) (Supplemental Executive Retirement Plan, USD $)	3 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Supplemental Executive Retirement Plan	'	'
Defined Benefit Plan Disclosure [Line Items]	'	'
Defined benefit plan, employer contributions	$0	$0

Schedule_of_Carrying_Value_of_

Schedule of Carrying Value of Trust Assets, Including Unrealized Gains or Losses (Detail) (USD $)	Jun. 30, 2014	Mar. 31, 2014
In Thousands, unless otherwise specified	Jun. 30, 2014	Mar. 31, 2014
Defined Benefit Plan Disclosure [Line Items]	'	'
Investments held in Rabbi Trust	$10,344	$10,285
Unrealized gains (losses) in fair value of trust assets	193	92
Unrealized gains (losses) in fair value of trust assets are net of income tax expense of	104	49
Obligations under the supplemental plan	$22,354	$21,918

Schedule_of_Net_Periodic_Benef

Schedule of Net Periodic Benefit Cost (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013
Pension Plan and Supplemental Plan	'	'
Net Period Benefit Cost Assumptions [Line Items]	'	'
Service cost	$206	$198
Interest cost	968	895
Expected return on plan assets	-685	-718
Amortization of prior service cost	12	12
Recognized actuarial loss (benefit)	247	276
Net periodic benefit cost	748	663
Other Benefits	'	'
Net Period Benefit Cost Assumptions [Line Items]	'	'
Service cost	68	101
Interest cost	226	262
Amortization of prior service cost	-508	-508
Recognized actuarial loss (benefit)	-325	-99
Net periodic benefit cost	($539)	($244)

Summary_of_Debt_Outstanding_De

Summary of Debt Outstanding (Detail) (USD $)	3 Months Ended		12 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014		Mar. 31, 2014
Term Loan Facility	'		'
Debt [Line Items]	'		'
Term loan agreement	$300,000	[1]	$300,000	[1]
Revolving Credit Agreement	'		'
Debt [Line Items]	'		'
Revolving line of credit	'	[1],[2]	'	[1],[2]
September 2013 Senior Unsecured Notes	'		'
Debt [Line Items]	'		'
Aggregate debt outstanding	500,000		500,000
Weighted average remaining life in years	'9 years 2 months 12 days		'9 years 4 months 24 days
Weighted average coupon rate on notes outstanding	4.86%		4.86%
Fair value of debt outstanding (Level 2)	522,988		520,979
August 2011 Senior Unsecured Notes	'		'
Debt [Line Items]	'		'
Aggregate debt outstanding	165,000		165,000
Weighted average remaining life in years	'6 years 3 months 18 days		'6 years 7 months 6 days
Weighted average coupon rate on notes outstanding	4.42%		4.42%
Fair value of debt outstanding (Level 2)	170,332		168,653
September 2010 Senior Unsecured Notes	'		'
Debt [Line Items]	'		'
Aggregate debt outstanding	425,000		425,000
Weighted average remaining life in years	'5 years 4 months 24 days		'5 years 7 months 6 days
Weighted average coupon rate on notes outstanding	4.25%		4.25%
Fair value of debt outstanding (Level 2)	438,074		436,264
July 2003 Senior Unsecured Notes	'		'
Debt [Line Items]	'		'
Aggregate debt outstanding	35,000		35,000
Weighted average remaining life in years	'1 year 1 month 6 days		'1 year 3 months 18 days
Weighted average coupon rate on notes outstanding	4.61%		4.61%
Fair value of debt outstanding (Level 2)	$35,866		$36,018

[1]	Fair values approximate carrying values because the borrowings bear interest at variable rates.
[2]	$600.0 million was available under the revolver at June 30, 2014 and March 31, 2014.

Summary_of_Debt_Outstanding_Pa

Summary of Debt Outstanding (Parenthetical) (Detail) (Revolving Credit Agreement, USD $)	Jun. 30, 2014	Mar. 31, 2014
In Millions, unless otherwise specified	Jun. 30, 2014	Mar. 31, 2014
Revolving Credit Agreement	'	'
Debt [Line Items]	'	'
Revolving credit facility, remaining borrowing capacity	$600	$600

Summary_of_Norwegian_Kroner_NO

Summary of Norwegian Kroner (NOK) Denominated Borrowings Outstanding (Detail)

Jun. 30, 2014

Mar. 31, 2014

Jun. 30, 2014

Mar. 31, 2014

Jun. 30, 2014

Mar. 31, 2014

Jun. 30, 2014

Mar. 31, 2014

In Thousands, unless otherwise specified

3.81% January 2014 notes

5.38% May 2012 notes

Variable rate borrowings, June 2013 borrowing agreement

Variable rate borrowings, May 2012 borrowing agreement

USD ($)

NOK

USD ($)

NOK

USD ($)

NOK

USD ($)

NOK

USD ($)

NOK

USD ($)

NOK

USD ($)

NOK

USD ($)

NOK

Debt [Line Items]

Long-term debt outstanding

$50,265

300,000

$50,028

300,000

$28,550

170,400

$29,867

178,920

$4,188

[1]

25,000

[1]

$4,168

[1]

25,000

[1]

$3,351

[1]

20,000

[1]

$5,837

[1]

35,000

[1]

Fair value in U.S. dollar equivalent (Level 2)

$50,302

$50,044

$28,467

$29,588

[1]

Fair values approximate carrying values because the borrowings bear interest at variable rates.

Summary_of_Norwegian_Kroner_NO1

Summary of Norwegian Kroner (NOK) Denominated Borrowings Outstanding (Parenthetical) (Detail)	3 Months Ended		12 Months Ended
	Jun. 30, 2014		Mar. 31, 2014
3.81% January 2014 notes	'		'
Debt [Line Items]	'		'
Debt instrument interest rate	3.81%		3.81%
Debt Instrument Maturity Period	'January 2014		'January 2014
5.38% May 2012 notes	'		'
Debt [Line Items]	'		'
Debt instrument interest rate	5.38%		5.38%
Debt Instrument Maturity Period	'May 2012		'May 2012
Variable rate borrowings, June 2013 borrowing agreement	'		'
Debt [Line Items]	'		'
Debt instrument interest rate	'Variable rate	[1]	'Variable rate	[1]
Debt Instrument Maturity Period	'June 2013	[1]	'June 2013	[1]
Variable rate borrowings, May 2012 borrowing agreement	'		'
Debt [Line Items]	'		'
Debt instrument interest rate	'Variable rate	[1]	'Variable rate	[1]
Debt Instrument Maturity Period	'May 2012	[1]	'May 2012	[1]

[1]	Fair values approximate carrying values because the borrowings bear interest at variable rates.

Debt_Costs_Detail

Debt Costs (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013
Debt [Line Items]	'	'
Interest and debt costs incurred, net of interest capitalized	$13,129	$8,913
Interest costs capitalized	2,872	2,963
Total interest and debt costs	$16,001	$11,876

Components_of_Basic_and_Dilute

Components of Basic and Diluted Earnings Per Share (Detail) (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013
Schedule Of Earnings Per Share Basic And Diluted [Line Items]	'	'
Net Income available to common shareholders (A)	$43,673	$30,083
Weighted average outstanding shares of common stock, basic (B)	49,580,038	49,226,911
Dilutive effect of options and restricted stock awards and units	282,986	331,090
Weighted average common stock and equivalents (C)	49,863,024	49,558,001
Earnings per share, basic (A/B)	$0.88	$0.61
Earnings per share, diluted (A/C)	$0.88	$0.61
Antidilutive incremental options and restricted stock awards and units	'	17,755

Schedule_of_Vessel_Commitments

Schedule of Vessel Commitments (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014
	Vessel
Significant Purchase and Supply Commitment [Line Items]	'
Number of Vessels, commitments	35
Total cost, commitments	$982,921
Invested, commitments	297,948
Remaining Balance, commitments	684,973
Deepwater PSVs	'
Significant Purchase and Supply Commitment [Line Items]	'
Number of vessels under construction	26
Total cost, under construction	843,784
Invested, under construction	230,331
Remaining Balance, under construction	613,453
Towing Supply Vessels	'
Significant Purchase and Supply Commitment [Line Items]	'
Number of vessels under construction	6
Total cost, under construction	116,143
Invested, under construction	55,909
Remaining Balance, under construction	60,234
Other	'
Significant Purchase and Supply Commitment [Line Items]	'
Number of vessels under construction	1
Total cost, under construction	8,014
Invested, under construction	8,014
Vessel Commitments	'
Significant Purchase and Supply Commitment [Line Items]	'
Number of Vessels, commitments	33
Total cost, commitments	967,941
Invested, commitments	294,254
Remaining Balance, commitments	673,687
Remotely Operated Vehicles Commitments	'
Significant Purchase and Supply Commitment [Line Items]	'
Number of Vessels, commitments	2
Total cost, commitments	14,980
Invested, commitments	3,694
Remaining Balance, commitments	$11,286

Commitments_and_Contingencies_1

Commitments and Contingencies - Additional Information (Detail) (USD $)	1 Months Ended	3 Months Ended
In Millions, unless otherwise specified	Dec. 31, 2013	Jun. 30, 2014
	Vessel	T
Deepwater PSVs	'	'
Significant Purchase and Supply Commitment [Line Items]	'	'
Significant commitment, new construction deadweight tons capacity range, low	'	3,000
Significant commitment, new construction deadweight tons capacity range, high	'	6,360
Significant commitment, new construction final delivery date	'	'June 2016
Number of vessels took for delivery	2	'
Amount held as escrow	$11.70	'
Towing Supply Vessels	'	'
Significant Purchase and Supply Commitment [Line Items]	'	'
Significant commitment, new construction brake horsepower	'	7,145
Remotely Operated Vehicles Commitments	'	'
Significant Purchase and Supply Commitment [Line Items]	'	'
Significant commitment, new construction final delivery date	'	'November of 2014
Number of vessels took for delivery	'	2
Fast, Crew/Supply Boat	'	'
Significant Purchase and Supply Commitment [Line Items]	'	'
Number of vessels under construction	'	1
Insurance coverage for the progress payments made on the vessel by the third party credit support	'	90.00%
Insurance coverage by the third party credit support for the carrying value of the accumulated costs	'	2.4
Committed and invested amount	'	8

Commitments_and_Contingencies_2

Commitments and Contingencies (Merchant Navy Officers Pension Fund) - Additional Information (Detail) (Merchant Navy Officers Pension Fund)	1 Months Ended
	Jul. 15, 2013
	Vessel
Merchant Navy Officers Pension Fund	'
Commitments and Contingencies Disclosure [Line Items]	'
Number of Vessels to be purchased	7

Commitments_and_Contingencies_3

Commitments and Contingencies (Sonatide Joint Venture) - Additional Information (Detail) (USD $)

3 Months Ended

1 Months Ended

3 Months Ended

1 Months Ended

3 Months Ended

Jun. 30, 2014

Jun. 30, 2013

Mar. 31, 2014

Nov. 30, 2013

Jun. 30, 2014

Mar. 31, 2014

Jun. 30, 2014

Feb. 28, 2014

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Mar. 31, 2014

Jun. 30, 2014

Mar. 31, 2014

Sonatide joint venture

Vessel

Dollars held by Sonatide that did not need to be converted to U.S dollars prior to payment to Tidewate

Sonatide's conversion of kwanzas to dollars and subsequent payment to Tidewater

United States of America, Dollars

Angola, Kwanza

ANGOLA

Increase

Trade and other receivables

Accrued expenses

Vessel

ANGOLA

Vessel

Commitments and Contingencies Disclosure [Line Items]

Definitive joint venture agreement term

'2 years

Due from related parties

$430,000,000

Customer agreements that contain split currency

70.00%

30.00%

Proceeds from related party

91,000,000

59,000,000

32,000,000

Vessel revenues

381,510,000

331,630,000

87,000,000

98,000,000

Percentage of Angolan operation revenue

23.00%

29.00%

Number of vessels operating

Number of vessels stacked

Ownership Interest In Joint Venture

49.00%

Investments in, at equity, and advances to unconsolidated companies

67,926,000

63,928,000

66,000,000

62,000,000

Due from related parties

430,000,000

Due to related parties

118,000,000

86,000,000

Commissions payable

$6,785,000

$8,263,000

$51,000,000

$43,000,000

Commitments_and_Contingencies_4

Commitments and Contingencies (Brazilian Customs) - Additional Information (Detail)	1 Months Ended	3 Months Ended
In Millions, unless otherwise specified	Apr. 30, 2011	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014
	BRL	USD ($)	BRL	Revised	Revised
	Vessel			USD ($)	BRL
Commitments and Contingencies Disclosure [Line Items]	'	'	'	'	'
Fines assessed	155	$70.30	'	$57.60	127
Number of Tidewater vessels that the subsidiaries failed to obtain import licenses from	17	'	'	'	'
Disallowed amount of total fines by the administrative appeals board	'	67.6	149	'	'
Remaining amount of fines contested	'	12.7	28	'	'
Decision disallowing the fines totaling	'	'	127	'	'

Commitments_and_Contingencies_5

Commitments and Contingencies (Potential for Future Brazilian State Tax Assessment) - Additional Information (Detail)	3 Months Ended
	Jun. 30, 2014
Commitments and Contingencies Disclosure [Line Items]	'
Number of competitors notified	2
Statute of limitations, years	'5 years
Maximum, Prior To December 31, 2010	'
Commitments and Contingencies Disclosure [Line Items]	'
Import tax, percentage	16.00%
Maximum, After December 31, 2010	'
Commitments and Contingencies Disclosure [Line Items]	'
Import tax, percentage	3.00%

Commitment_and_Contingencies_N

Commitment and Contingencies (Nigeria Marketing Agent Litigation) - Additional Information (Detail) (Federal Government of Nigeria, USD $)	Mar. 01, 2013
In Millions, unless otherwise specified	Mar. 01, 2013
Federal Government of Nigeria	'
Commitments and Contingencies Disclosure [Line Items]	'
Due to affiliates	$19

Commitments_and_Contingencies_6

Commitments and Contingencies (Venezuelan Operations) - Additional Information (Detail)	1 Months Ended
	31-May-09	Jul. 31, 2009
	Venezuelan National Oil Company	Petrosucre S
	Vessel	Vessel
Commitments and Contingencies Disclosure [Line Items]	'	'
Number of vessels seized	11	4

Schedule_of_Fair_Value_Assets_

Schedule of Fair Value Assets and Liabilities Measured on Recurring Basis (Detail) (USD $)	Jun. 30, 2014	Mar. 31, 2014
In Thousands, unless otherwise specified	Jun. 30, 2014	Mar. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]	'	'
Total fair value of plan assets	$10,344	$10,285
Supplemental Executive Retirement Plan	'	'
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]	'	'
Fair value of plan assets	10,463	10,375
Other pending transactions	-119	-90
Total fair value of plan assets	10,344	10,285
Common stock \| Supplemental Executive Retirement Plan	'	'
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]	'	'
Fair value of plan assets	4,277	4,141
Foreign Stock \| Supplemental Executive Retirement Plan	'	'
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]	'	'
Fair value of plan assets	190	231
American Depository Receipts \| Supplemental Executive Retirement Plan	'	'
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]	'	'
Fair value of plan assets	1,807	1,809
Preferred American Depository Receipts \| Supplemental Executive Retirement Plan	'	'
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]	'	'
Fair value of plan assets	15	15
Real Estate Investment Trusts \| Supplemental Executive Retirement Plan	'	'
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]	'	'
Fair value of plan assets	40	38
US Government Agencies Debt Securities \| Supplemental Executive Retirement Plan	'	'
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]	'	'
Fair value of plan assets	2,002	1,975
Open Ended Mutual Funds \| Supplemental Executive Retirement Plan	'	'
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]	'	'
Fair value of plan assets	1,827	1,797
Cash and Cash Equivalents \| Supplemental Executive Retirement Plan	'	'
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]	'	'
Fair value of plan assets	305	369
Quoted Prices In Active Markets (Level 1) \| Supplemental Executive Retirement Plan	'	'
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]	'	'
Fair value of plan assets	9,603	9,451
Other pending transactions	-119	-90
Total fair value of plan assets	9,484	9,361
Quoted Prices In Active Markets (Level 1) \| Common stock \| Supplemental Executive Retirement Plan	'	'
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]	'	'
Fair value of plan assets	4,277	4,141
Quoted Prices In Active Markets (Level 1) \| Foreign Stock \| Supplemental Executive Retirement Plan	'	'
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]	'	'
Fair value of plan assets	190	231
Quoted Prices In Active Markets (Level 1) \| American Depository Receipts \| Supplemental Executive Retirement Plan	'	'
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]	'	'
Fair value of plan assets	1,807	1,809
Quoted Prices In Active Markets (Level 1) \| Preferred American Depository Receipts \| Supplemental Executive Retirement Plan	'	'
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]	'	'
Fair value of plan assets	15	15
Quoted Prices In Active Markets (Level 1) \| Real Estate Investment Trusts \| Supplemental Executive Retirement Plan	'	'
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]	'	'
Fair value of plan assets	40	38
Quoted Prices In Active Markets (Level 1) \| US Government Agencies Debt Securities \| Supplemental Executive Retirement Plan	'	'
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]	'	'
Fair value of plan assets	1,426	1,363
Quoted Prices In Active Markets (Level 1) \| Open Ended Mutual Funds \| Supplemental Executive Retirement Plan	'	'
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]	'	'
Fair value of plan assets	1,827	1,797
Quoted Prices In Active Markets (Level 1) \| Cash and Cash Equivalents \| Supplemental Executive Retirement Plan	'	'
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]	'	'
Fair value of plan assets	21	57
Significant Observable Inputs (Level 2) \| Supplemental Executive Retirement Plan	'	'
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]	'	'
Fair value of plan assets	860	924
Total fair value of plan assets	860	924
Significant Observable Inputs (Level 2) \| US Government Agencies Debt Securities \| Supplemental Executive Retirement Plan	'	'
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]	'	'
Fair value of plan assets	576	612
Significant Observable Inputs (Level 2) \| Cash and Cash Equivalents \| Supplemental Executive Retirement Plan	'	'
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]	'	'
Fair value of plan assets	$284	$312

Fair_Value_Measurements_Additi

Fair Value Measurements - Additional Information (Detail) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014	Mar. 31, 2014
	Contract	Contract
Derivatives, Fair Value [Line Items]	'	'
Cash equivalents maturity period, days	'90 days	'
Number of contracts outstanding	2	4
Notional value of foreign exchange contract	$6.70	$2.30

Schedule_of_Fair_Value_Other_F

Schedule of Fair Value Other Financial Instruments Measured (Detail) (USD $)	Jun. 30, 2014	Mar. 31, 2014
In Thousands, unless otherwise specified	Jun. 30, 2014	Mar. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Money market cash equivalents	$1,876	$16,559
Total fair value of assets	1,876	16,559
Quoted Prices In Active Markets (Level 1)	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Money market cash equivalents	1,876	16,559
Total fair value of assets	$1,876	$16,559

Summary_of_Gain_on_Assets_Disp

Summary of Gain on Assets Disposition (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013
Fair Value Measurements [Line Items]	'	'
Amount of impairment incurred	$950	$3,872
Combined fair value of assets incurring impairment	$220	$4,305

Schedule_of_Other_Assets_Detai

Schedule of Other Assets (Detail) (USD $)	Jun. 30, 2014	Mar. 31, 2014
In Thousands, unless otherwise specified	Jun. 30, 2014	Mar. 31, 2014
Other Assets, Accrued Expenses, Other Current Liabilities, And Other Liabilities And Deferred Credits [Abstract]	'	'
Recoverable insurance losses	$2,081	$5,219
Deferred income tax assets	33,099	34,376
Deferred finance charges - revolver	8,335	8,728
Savings plans and supplemental plan	23,687	23,212
Noncurrent tax receivable	9,106	9,106
Other	16,443	15,744
Total other assets	$92,751	$96,385

Schedule_of_Accrued_Expenses_D

Schedule of Accrued Expenses (Detail) (USD $)	Jun. 30, 2014	Mar. 31, 2014
In Thousands, unless otherwise specified	Jun. 30, 2014	Mar. 31, 2014
Other Assets, Accrued Expenses, Other Current Liabilities, And Other Liabilities And Deferred Credits [Abstract]	'	'
Payroll and related payables	$28,754	$27,248
Commissions payable	6,785	8,263
Accrued vessel expenses	87,252	96,468
Accrued interest expense	2,956	14,816
Other accrued expenses	5,608	10,507
Accrued expenses	$131,355	$157,302

Schedule_of_Other_Current_Liab

Schedule of Other Current Liabilities (Detail) (USD $)	Jun. 30, 2014	Mar. 31, 2014
In Thousands, unless otherwise specified	Jun. 30, 2014	Mar. 31, 2014
Other Assets, Accrued Expenses, Other Current Liabilities, And Other Liabilities And Deferred Credits [Abstract]	'	'
Taxes payable	$55,415	$56,080
Deferred gain on vessel sales - current	15,514	13,996
Other	560	491
Other current liabilities	$71,489	$70,567

Schedule_of_Other_Liabilities_

Schedule of Other Liabilities and Deferred Credits (Detail) (USD $)	Jun. 30, 2014	Mar. 31, 2014
In Thousands, unless otherwise specified	Jun. 30, 2014	Mar. 31, 2014
Other Assets, Accrued Expenses, Other Current Liabilities, And Other Liabilities And Deferred Credits [Abstract]	'	'
Postretirement benefits liability	$22,330	$23,185
Pension liabilities	37,146	35,234
Deferred gain on vessel sales	89,642	85,316
Other	35,638	35,469
Other liabilities and deferred credits	$184,756	$179,204

Segment_Information_Geographic

Segment Information, Geographical Data and Major Customers (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014		Jun. 30, 2013
Segment Reporting Information [Line Items]	'		'
Vessel revenues	$381,510		$331,630
Other operating revenues	4,167		2,455
Operating profit	76,209		57,840
Total revenues	385,677		334,085
Depreciation and amortization	43,111		40,108
General and administrative expenses	-51,060		-50,480
Additions to properties and equipment	39,874		156,434
Corporate expenses	-13,148		-16,555
Gain on asset dispositions, net	2,943		2,140
Operating income	66,004		43,425
Foreign exchange loss	-1,289		-89
Equity in net earnings of unconsolidated companies	5,283		4,420
Interest income and other, net	622		740
Interest and other debt costs, net	-13,129		-8,913
Earnings before income taxes	57,491		39,583
Additions to properties and equipment	45,098		402,169
Operating Segments	'		'
Segment Reporting Information [Line Items]	'		'
Operating profit	78,632		58,232
Depreciation and amortization	41,425		39,396
Additions to properties and equipment	19,316		340,319
Operating Segments \| Americas	'		'
Segment Reporting Information [Line Items]	'		'
Vessel revenues	119,983		90,244
Operating profit	30,208		20,301
Depreciation and amortization	11,408		10,110
Additions to properties and equipment	16,238		3,194
Operating Segments \| Asia/Pacific	'		'
Segment Reporting Information [Line Items]	'		'
Vessel revenues	40,249		42,956
Operating profit	-971		10,289
Depreciation and amortization	4,386		4,525
Additions to properties and equipment	73		515
Operating Segments \| Middle East/North Africa	'		'
Segment Reporting Information [Line Items]	'		'
Vessel revenues	55,539		41,213
Operating profit	11,793		10,123
Depreciation and amortization	6,582		5,606
Additions to properties and equipment	430		139
Operating Segments \| Sub-Saharan Africa/Europe	'		'
Segment Reporting Information [Line Items]	'		'
Vessel revenues	165,739		157,217
Operating profit	37,602		17,519
Depreciation and amortization	19,049		19,155
Additions to properties and equipment	2,575	[1]	336,471	[1]
Other	'		'
Segment Reporting Information [Line Items]	'		'
Operating profit	-2,423		-392
Depreciation and amortization	870		2
Additions to properties and equipment	4,036		'
Corporate	'		'
Segment Reporting Information [Line Items]	'		'
Depreciation and amortization	816		710
General and administrative expenses	-12,332		-15,845
Additions to properties and equipment	$21,746	[2]	$61,850	[2]

[1]	Included in Sub-Saharan Africa/Europe for the quarter ended June 30, 2013 is $245.6 million related to vessels acquired through the acquisition of Troms Offshore.
[2]	Included in Corporate are additions to properties and equipment relating to vessels currently under construction which have not yet been assigned to a non-corporate reporting segment as of the dates presented.

Segment_Information_Geographic1

Segment Information, Geographical Data and Major Customers (Parenthetical) (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013
Segment Reporting Information [Line Items]	'	'
Additions to properties and equipment	$39,874	$156,434
Sub-Saharan Africa/Europe \| Troms Offshore Supply AS	'	'
Segment Reporting Information [Line Items]	'	'
Additions to properties and equipment	'	$245,600

Comparison_of_Total_Assets_Det

Comparison of Total Assets (Detail) (USD $)	Jun. 30, 2014		Mar. 31, 2014
In Thousands, unless otherwise specified	Jun. 30, 2014		Mar. 31, 2014
Segment and Geographic Distribution of Operations [Line Items]	'		'
Assets	$4,930,844		$4,885,829
Investments in, at equity, and advances to unconsolidated companies	67,926		63,928
Operating Segments	'		'
Segment and Geographic Distribution of Operations [Line Items]	'		'
Assets	4,445,618		4,435,925
Operating Segments \| Americas	'		'
Segment and Geographic Distribution of Operations [Line Items]	'		'
Assets	1,101,797		1,017,736
Operating Segments \| Asia/Pacific	'		'
Segment and Geographic Distribution of Operations [Line Items]	'		'
Assets	445,919		421,379
Operating Segments \| Middle East/North Africa	'		'
Segment and Geographic Distribution of Operations [Line Items]	'		'
Assets	603,971		613,303
Operating Segments \| Sub-Saharan Africa/Europe	'		'
Segment and Geographic Distribution of Operations [Line Items]	'		'
Assets	2,293,931		2,383,507
Other	'		'
Segment and Geographic Distribution of Operations [Line Items]	'		'
Assets	36,276		31,545
Assets Before Equity Method Investments	'		'
Segment and Geographic Distribution of Operations [Line Items]	'		'
Assets	4,481,894		4,467,470
Assets Before Corporate Assets	'		'
Segment and Geographic Distribution of Operations [Line Items]	'		'
Assets	4,549,820		4,531,398
Corporate	'		'
Segment and Geographic Distribution of Operations [Line Items]	'		'
Assets	$381,024	[1]	$354,431	[1]

[1]	Included in Corporate are vessels currently under construction which have not yet been assigned to a non-corporate reporting segment. A vessel's construction costs are reported in Corporate until the earlier of the date the vessels is assigned to a non-corporate reporting segment or the date it is delivered. At June 30, 2014 and March 31, 2014, $250.1 million and $228.9 million, respectively, of vessel construction costs are included in Corporate.

Comparison_of_Total_Assets_Par

Comparison of Total Assets (Parenthetical) (Detail) (Corporate Vessels, USD $)	3 Months Ended	12 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014	Mar. 31, 2014
Corporate Vessels	'	'
Segment and Geographic Distribution of Operations [Line Items]	'	'
Construction costs	$250.10	$228.90

Schedule_of_Segment_Reporting_

Schedule of Segment Reporting Information, Revenue by Vessel Class (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013
Segment and Geographic Distribution of Operations [Line Items]	'	'
Vessel revenues	$381,510	$331,630
Americas Fleet Deepwater vessels	'	'
Segment and Geographic Distribution of Operations [Line Items]	'	'
Vessel revenues	82,282	55,032
Percentage of revenue	21.00%	17.00%
Americas Fleet Towing-Supply/supply	'	'
Segment and Geographic Distribution of Operations [Line Items]	'	'
Vessel revenues	29,517	27,670
Percentage of revenue	8.00%	8.00%
Americas Fleet Other	'	'
Segment and Geographic Distribution of Operations [Line Items]	'	'
Vessel revenues	8,184	7,542
Percentage of revenue	2.00%	2.00%
Americas Fleet	'	'
Segment and Geographic Distribution of Operations [Line Items]	'	'
Vessel revenues	119,983	90,244
Percentage of revenue	31.00%	27.00%
Asia and Pacific Fleet Deepwater vessels	'	'
Segment and Geographic Distribution of Operations [Line Items]	'	'
Vessel revenues	24,242	24,292
Percentage of revenue	7.00%	7.00%
Asia/Pacific Fleet Towing-Supply/supply	'	'
Segment and Geographic Distribution of Operations [Line Items]	'	'
Vessel revenues	15,037	17,722
Percentage of revenue	4.00%	6.00%
Asia and Pacific Fleet Other	'	'
Segment and Geographic Distribution of Operations [Line Items]	'	'
Vessel revenues	970	942
Asia and Pacific Fleet Other \| Maximum	'	'
Segment and Geographic Distribution of Operations [Line Items]	'	'
Percentage of revenue	1.00%	1.00%
Asia/Pacific Fleet	'	'
Segment and Geographic Distribution of Operations [Line Items]	'	'
Vessel revenues	40,249	42,956
Percentage of revenue	11.00%	13.00%
Middle East/North Africa Fleet Deepwater vessels	'	'
Segment and Geographic Distribution of Operations [Line Items]	'	'
Vessel revenues	19,467	15,852
Percentage of revenue	5.00%	5.00%
Middle East/North Africa Fleet Towing-Supply/supply	'	'
Segment and Geographic Distribution of Operations [Line Items]	'	'
Vessel revenues	35,279	24,497
Percentage of revenue	9.00%	7.00%
Middle East and North Africa Fleet Other	'	'
Segment and Geographic Distribution of Operations [Line Items]	'	'
Vessel revenues	793	864
Middle East and North Africa Fleet Other \| Maximum	'	'
Segment and Geographic Distribution of Operations [Line Items]	'	'
Percentage of revenue	1.00%	1.00%
Middle East/North Africa	'	'
Segment and Geographic Distribution of Operations [Line Items]	'	'
Vessel revenues	55,539	41,213
Percentage of revenue	15.00%	13.00%
Sub-Saharan Africa/Europe Fleet Deepwater vessels	'	'
Segment and Geographic Distribution of Operations [Line Items]	'	'
Vessel revenues	91,691	87,251
Percentage of revenue	24.00%	26.00%
Sub-Saharan Africa/Europe Fleet Towing-Supply/supply	'	'
Segment and Geographic Distribution of Operations [Line Items]	'	'
Vessel revenues	55,436	54,860
Percentage of revenue	14.00%	17.00%
Sub Saharan Africa And Europe Fleet Other	'	'
Segment and Geographic Distribution of Operations [Line Items]	'	'
Vessel revenues	18,612	15,106
Percentage of revenue	5.00%	4.00%
Sub-Saharan Africa/Europe Fleet	'	'
Segment and Geographic Distribution of Operations [Line Items]	'	'
Vessel revenues	165,739	157,217
Percentage of revenue	43.00%	47.00%
Worldwide Fleet Deepwater vessels	'	'
Segment and Geographic Distribution of Operations [Line Items]	'	'
Vessel revenues	217,682	182,427
Percentage of revenue	57.00%	55.00%
Worldwide Fleet Towing-Supply/supply	'	'
Segment and Geographic Distribution of Operations [Line Items]	'	'
Vessel revenues	135,269	124,749
Percentage of revenue	35.00%	38.00%
Worldwide Fleet Other	'	'
Segment and Geographic Distribution of Operations [Line Items]	'	'
Vessel revenues	28,559	24,454
Percentage of revenue	8.00%	7.00%
Worldwide Fleet	'	'
Segment and Geographic Distribution of Operations [Line Items]	'	'
Vessel revenues	$381,510	$331,630
Percentage of revenue	100.00%	100.00%

Goodwill_Additional_Informatio

Goodwill - Additional Information (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014		Jun. 30, 2013		Dec. 31, 2013	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
	Jun. 30, 2014		Jun. 30, 2013		Asia/Pacific	Asia/Pacific	Sub-Saharan Africa/Europe	Sub-Saharan Africa/Europe
Goodwill [Line Items]	'		'		'	'	'	'
Goodwill impairment test period	'		'		'10 years	'	'	'
Goodwill impairment charge	'	[1]	'	[2]	$56,300	'	'	'
Goodwill	'		$42,160	[2]	'	'	'	$42,160

[1]	The total carrying amount of goodwill at June 30, 2014 is net of accumulated impairment charges $30.9 million and $56.3 million related to the Middle East/North Africa and Asia/Pacific segments, respectively.
[2]	The total carrying amount of goodwill at June 30, 2013 is net of accumulated impairment charges $30.9 million related to the Middle East/North Africa segment.

Schedule_of_Goodwill_by_Report

Schedule of Goodwill by Reportable Segment (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014		Jun. 30, 2013		Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013	Jun. 30, 2013
	Jun. 30, 2014		Jun. 30, 2013		Americas	Americas	Sub-Saharan Africa/Europe	Sub-Saharan Africa/Europe	Asia/Pacific	Asia/Pacific
Goodwill [Line Items]	'		'		'	'	'	'	'	'
Goodwill, Beginning Balance	$283,699	[1]	$297,822	[2]	$114,237	$114,237	$169,462	$127,302	'	$56,283
Goodwill acquired	'		42,160	[2]	'	'	'	42,160	'	'
Impairments	'	[1]	'	[2]	'	'	'	'	56,300	'
Goodwill, Ending Balance	$283,699	[1]	$339,982	[2]	$114,237	$114,237	$169,462	$169,462	'	$56,283

[1]	The total carrying amount of goodwill at June 30, 2014 is net of accumulated impairment charges $30.9 million and $56.3 million related to the Middle East/North Africa and Asia/Pacific segments, respectively.
[2]	The total carrying amount of goodwill at June 30, 2013 is net of accumulated impairment charges $30.9 million related to the Middle East/North Africa segment.

Schedule_of_Goodwill_by_Report1

Schedule of Goodwill by Reportable Segment (Parenthetical) (Detail) (USD $)	Jun. 30, 2014	Jun. 30, 2013
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013
Middle East/North Africa	'	'
Goodwill [Line Items]	'	'
Accumulated impairment charges	$30,900	$30,900
Asia/Pacific	'	'
Goodwill [Line Items]	'	'
Accumulated impairment charges	$56,300	'

Sale_Leaseback_Arrangements_Ad

Sale/ Leaseback Arrangements - Additional Information (Detail) (USD $)	3 Months Ended
	Jun. 30, 2014
	Vessel
Sale Leaseback Transaction [Line Items]	'
Number of vessels sold	1
Proceeds from sale	$13,400,000
Deferred gain	9,400,000
Carrying value	$4,000,000
Lease expiration date	'Quarter ending June 2021
Reacquisition percentage of original sales price	61.00%
Length of extension period, months	'24 months

Schedule_of_Future_Minimum_Lea

Schedule of Future Minimum Lease Payments (Detail) (USD $)	Jun. 30, 2014
In Thousands, unless otherwise specified	Jun. 30, 2014
Sale Leaseback Transaction [Line Items]	'
Remaining nine-months of 2015	$804
2016	1,072
2017	1,072
2018	1,191
2019	1,310
Thereafter	2,620
Total future lease payments	$8,069

Acquisition_Additional_Informa

Acquisition - Additional Information (Detail) (USD $)	Jun. 30, 2014		Mar. 31, 2014		Jun. 30, 2013		Mar. 31, 2013		Jun. 04, 2013	Jun. 04, 2013
Acquisition - Additional Information (Detail) (USD $)	Jun. 30, 2014		Mar. 31, 2014		Jun. 30, 2013		Mar. 31, 2013		Troms Offshore Supply AS	Troms Offshore Supply AS
Business Acquisition [Line Items]	'		'		'		'		'	'
Business acquisition, description of acquired entity	'		'		'		'		'Troms Offshore owned four deepwater PSVs, and had two additional deepwater PSVs under construction, one of which was delivered shortly after the acquisition and the other delivered in January 2014.	'
Business acquisition, cash paid	'		'		'		'		$150,000,000	'
Business acquisition, debt assumed	'		'		'		'		'	261,300,000
Business acquisition, Goodwill	$283,699,000	[1]	$283,699,000	[1]	$339,982,000	[2]	$297,822,000	[2]	'	$42,160,000

[1]	The total carrying amount of goodwill at June 30, 2014 is net of accumulated impairment charges $30.9 million and $56.3 million related to the Middle East/North Africa and Asia/Pacific segments, respectively.
[2]	The total carrying amount of goodwill at June 30, 2013 is net of accumulated impairment charges $30.9 million related to the Middle East/North Africa segment.

Allocation_of_Purchase_Price_f

Allocation of Purchase Price for Acquisition (Detail) (USD $)	Jun. 30, 2014		Mar. 31, 2014		Jun. 30, 2013		Mar. 31, 2013		Jun. 04, 2013
In Thousands, unless otherwise specified	Jun. 30, 2014		Mar. 31, 2014		Jun. 30, 2013		Mar. 31, 2013		Troms Offshore Supply AS
Business Combination Allocation of Purchase Price [Line Items]	'		'		'		'		'
Cash	'		'		'		'		$22,263
Trade receivables and other current assets	'		'		'		'		9,816
Vessels	'		'		'		'		245,605
Goodwill	283,699	[1]	283,699	[1]	339,982	[2]	297,822	[2]	42,160
Payable and other liabilities	'		'		'		'		-13,020
Notes payable	'		'		'		'		-156,824
Total purchase price	'		'		'		'		$150,000

[1]	The total carrying amount of goodwill at June 30, 2014 is net of accumulated impairment charges $30.9 million and $56.3 million related to the Middle East/North Africa and Asia/Pacific segments, respectively.
[2]	The total carrying amount of goodwill at June 30, 2013 is net of accumulated impairment charges $30.9 million related to the Middle East/North Africa segment.