Tidewater (TDW) 10-Q 4 Aug 22 2022 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2022	Jul. 31, 2022
Document Information [Line Items]
Entity Central Index Key	0000098222
Entity Registrant Name	TIDEWATER INC
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2022
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
Document Transition Report	false
Entity File Number	1-6311
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	72-0487776
Entity Address, Address Line One	842 West Sam Houston Parkway North, Suite 400
Entity Address, City or Town	Houston
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77024
City Area Code	713
Local Phone Number	470-5300
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		42,065,813
Warrants to Purchase Shares of Common Stock [Member]
Document Information [Line Items]
Title of 12(b) Security	Warrants to purchase shares of common stock
Trading Symbol	TDW.WS
Security Exchange Name	NYSEAMER
Series B Warrants [Member]
Document Information [Line Items]
Title of 12(b) Security	Series B Warrants to purchase shares of common stock
Trading Symbol	TDW.WS.B
Security Exchange Name	NYSE
Series A Warrants [Member]
Document Information [Line Items]
Title of 12(b) Security	Series A Warrants to purchase shares of common stock
Trading Symbol	TDW.WS.A
Security Exchange Name	NYSE
Common Stock [Member]
Document Information [Line Items]
Title of 12(b) Security	Common stock, $0.001 par value per share
Trading Symbol	TDW
Security Exchange Name	NYSE

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 87,981	$ 149,037
Restricted cash	1,240	1,240
Trade and other receivables, less allowance for credit losses of $2,288 and $1,948 at June 30, 2022 and December 31, 2021, respectively	189,259	86,503
Due from affiliates, less allowance for credit losses of $12,215 and $72,456 at June 30, 2022 and December 31, 2021, respectively	0	(70,134)
Marine operating supplies	21,182	12,606
Assets held for sale	6,862	14,421
Prepaid expenses and other current assets	23,259	8,731
Total current assets	329,783	342,672
Net properties and equipment	838,612	688,040
Deferred drydocking and survey costs	53,661	40,734
Other assets	30,410	24,334
Total assets	1,282,735	1,095,780
Current liabilities:
Accounts payable	30,537	20,788
Accrued expenses	109,212	51,734
Due to affiliates	0	61,555
Other current liabilities	47,872	23,865
Total current liabilities	187,621	157,942
Long-term debt	168,279	167,885
Other liabilities	85,188	68,184
Commitments and contingencies
Equity:
Common stock of $0.001 par value, 125,000,000 shares authorized, 42,029,882 and 41,307,617 shares issued and outstanding at June 30, 2022 and December 31, 2021, respectively	42	41
Additional paid-in capital	1,554,561	1,376,494
Accumulated deficit	(715,649)	(677,900)
Accumulated other comprehensive loss	1,763	2,668
Total stockholders’ equity	840,717	701,303
Noncontrolling interests	930	466
Total equity	841,647	701,769
Total liabilities and equity	1,282,735	1,095,780
Swire Pacific Offshore Holdings Ltd. [Member]
Current assets:
Indemnification assets	$ 30,269	$ 0

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Allowance for credit losses	$ 12,215	$ 72,456
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	125,000,000	125,000,000
Common stock, shares issued (in shares)	42,029,882	41,307,617
Common stock, shares outstanding (in shares)	42,029,882	41,307,617
Trade Accounts Receivable [Member]
Allowance for credit losses	$ 2,288	$ 1,948

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Revenues:
Revenue	$ 163,447	$ 89,953	$ 269,176	$ 173,457
Costs and expenses:
Vessel operating costs	100,257	64,263	168,768	125,283
Costs of other operating revenues	483	581	844	1,648
General and administrative	27,804	16,787	46,021	32,830
Depreciation and amortization	31,766	28,549	58,423	58,276
Long-lived asset impairment credit	0	0	500	0
Affiliate credit loss impairment credit	0	(1,000)	0	(1,000)
Loss on asset dispositions, net	1,297	932	1,090	2,880
Total costs and expenses	161,607	110,112	274,646	219,917
Operating income (loss)	1,840	(20,159)	(5,470)	(46,460)
Other income (expense):
Foreign exchange gain (loss)	(1,881)	422	(935)	(428)
Equity in net earnings (losses) of unconsolidated companies	(244)	52	(244)	(1,797)
Interest income and other, net	349	8	3,835	31
Loss on warrants	(14,175)	0	(14,175)	0
Interest and other debt costs, net	(4,284)	(3,944)	(8,459)	(8,485)
Total other expense	(20,235)	(3,462)	(19,978)	(10,679)
Loss before income taxes	(18,395)	(23,621)	(25,448)	(57,139)
Income tax expense	6,619	6,026	11,837	8,035
Net loss	(25,014)	(29,647)	(37,285)	(65,174)
Net income (loss) attributable to noncontrolling interests	567	(185)	464	(397)
Net loss attributable to Tidewater Inc.	$ (25,581)	$ (29,462)	$ (37,749)	$ (64,777)
Basic loss per common share (in dollars per share)	$ (0.61)	$ (0.72)	$ (0.91)	$ (1.59)
Diluted loss per common share (in dollars per share)	$ (0.61)	$ (0.72)	$ (0.91)	$ (1.59)
Weighted average common shares outstanding (in shares)	41,814	40,899	41,614	40,808
Adjusted weighted average common shares (in shares)	41,814	40,899	41,614	40,808
Vessel [Member]
Revenues:
Revenue	$ 162,175	$ 88,514	$ 266,051	$ 169,507
Product and Service, Other [Member]
Revenues:
Revenue	$ 1,272	$ 1,439	$ 3,125	$ 3,950

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Net loss	$ (25,014)	$ (29,647)	$ (37,285)	$ (65,174)
Other comprehensive loss:
Unrealized loss on note receivable	(846)	0	(846)	0
Change in liability of pension plans	138	(207)	(59)	(278)
Total comprehensive loss	$ (25,722)	$ (29,854)	$ (38,190)	$ (65,452)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Operating activities:
Net loss	$ (37,285)	$ (65,174)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization	40,287	36,694
Amortization of deferred drydocking and survey costs	18,136	21,582
Amortization of debt premium and discounts	765	1,986
Provision for deferred income taxes	145	648
Loss on asset dispositions, net	1,090	2,880
Gain on bargain purchase	(1,300)	0
Loss on debt extinguishment	0	59
Affiliate credit loss impairment credit	0	(1,000)
Long-lived asset impairment credit	(500)	0
Loss on warrants	14,175	0
Stock-based compensation expense	3,421	2,676
Changes in assets and liabilities, net of effects of business acquisition:
Trade and other receivables	(35,085)	22,394
Changes in due to/from affiliates, net	(20)	4,693
Accounts payable	8,072	(792)
Accrued expenses	2,354	(2,074)
Deferred drydocking and survey costs	(31,063)	(6,771)
Other, net	(16,419)	(7,234)
Net cash provided by (used in) operating activities	(33,227)	10,567
Cash flows from investing activities:
Proceeds from asset dispositions	8,163	29,560
Acquisitions, net of cash acquired	(29,525)	0
Additions to properties and equipment	(5,380)	(1,861)
Net cash provided by (used in) investing activities	(26,742)	27,699
Cash flows from financing activities:
Principal payments on long-term debt	0	(37,901)
Debt issuance and modification costs	(371)	(855)
Debt extinguishment premium	0	(59)
Tax on share-based awards	(2,176)	(758)
Net cash used in financing activities	(2,547)	(39,573)
Net change in cash, cash equivalents and restricted cash	(62,516)	(1,307)
Cash, cash equivalents and restricted cash at beginning of period	154,276	155,225
Cash, cash equivalents and restricted cash at end of period	91,760	153,918
Supplemental disclosure of cash flow information:
Interest, net of amounts capitalized	7,626	7,028
Income taxes	9,330	6,609
Supplemental disclosure of noncash investing activities:
Acquisition of SPO	162,648	0
SPO Acquisition Warrants [Member]
Supplemental disclosure of noncash investing activities:
Warrants issued for SPO acquisition	$ 162,648	$ 0

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Equity (Unaudited) - USD ($) $ in Thousands	Warrans Issued to Acquire Swire Pacific Offshore Holdings Ltd. [Member] Common Stock [Member]	Warrans Issued to Acquire Swire Pacific Offshore Holdings Ltd. [Member] Additional Paid-in Capital [Member]	Warrans Issued to Acquire Swire Pacific Offshore Holdings Ltd. [Member] Retained Earnings [Member]	Warrans Issued to Acquire Swire Pacific Offshore Holdings Ltd. [Member] AOCI Attributable to Parent [Member]	Warrans Issued to Acquire Swire Pacific Offshore Holdings Ltd. [Member] Noncontrolling Interest [Member]	Warrans Issued to Acquire Swire Pacific Offshore Holdings Ltd. [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Noncontrolling Interest [Member]	Total
Balance at Dec. 31, 2020							$ 41	$ 1,371,809	$ (548,931)	$ (804)	$ 1,157	$ 823,272
Total comprehensive income (loss)							0	0	(64,777)	(278)	(397)	(65,452)
Amortization of share-based awards							0	1,918	0	0	0	1,918
Balance at Jun. 30, 2021							41	1,373,727	(613,708)	(1,082)	760	759,738
Balance at Mar. 31, 2021							41	1,372,846	(584,246)	(875)	945	788,711
Total comprehensive income (loss)							0	0	(29,462)	(207)	(185)	(29,854)
Amortization of share-based awards							0	881	0	0	0	881
Balance at Jun. 30, 2021							41	1,373,727	(613,708)	(1,082)	760	759,738
Balance at Dec. 31, 2021							41	1,376,494	(677,900)	2,668	466	701,769
Total comprehensive income (loss)							0	0	(37,749)	(905)	464	(38,190)
SPO acquisition warrants	$ 0	$ 176,823	$ 0	$ 0	$ 0	$ 176,823
Amortization of share-based awards							0	1,245	0	0	0	1,245
Issuance of common stock							1	(1)	0	0	0	0
Balance at Jun. 30, 2022							42	1,554,561	(715,649)	1,763	930	841,647
Balance at Mar. 31, 2022							42	1,376,934	(690,068)	2,471	363	689,742
Total comprehensive income (loss)							0	0	(25,581)	(708)	567	(25,722)
SPO acquisition warrants	$ 0	$ 176,823	$ 0	$ 0	$ 0	$ 176,823
Amortization of share-based awards							0	804	0	0	0	804
Balance at Jun. 30, 2022							$ 42	$ 1,554,561	$ (715,649)	$ 1,763	$ 930	$ 841,647

Note 1 - Interim Financial Stat

Note 1 - Interim Financial Statements	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	( 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 statement of the unaudited condensed consolidated financial statements at the dates and for the periods indicated as required by Rule 10 01 X not 10 December 31, 2021 March 9, 2022. The unaudited condensed consolidated financial statements include the accounts of Tidewater Inc. and its subsidiaries. Intercompany balances and transactions are eliminated in consolidation. We use the equity method to account for equity investments over which we exercise significant influence but do not not

Note 2 - Recently Issued or Ado

Note 2 - Recently Issued or Adopted Accounting Pronouncements	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Accounting Standards Update and Change in Accounting Principle [Text Block]	( 2 RECENTLY ISSUED OR ADOPTED ACCOUNTING PRONOUNCEMENTS In November 2021, 2021 10, December 15, 2021, December 31, 2022, In October 2021, 2021 08, 805, 606, December 15, 2022 In July 2021, 2021 05, 842, not 1 December 15, 2021, January 1, 2022 not In May 2021, 2021 04, December 15, 2021, January 1, 2022 not

Note 3 - Acquisition of Swire P

Note 3 - Acquisition of Swire Pacific Offshore Holdings Ltd	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Business Combination Disclosure [Text Block]	( 3 ACQUISITION OF SWIRE PACIFIC OFFSHORE HOLDINGS LTD On April 22, 2022 ( one June 30, 2022 Assets acquired and liabilities assumed in the business combination were recorded at their estimated fair values as of the Merger Date under the acquisition method of accounting. The fair value estimates below are subject to adjustment during the measurement period subsequent to the Merger Date, primarily consisting of the final valuation for various working capital items, tax and other liabilities existing on the Merger Date. The estimated fair values of certain assets and liabilities including long-lived assets and contingencies require judgments and assumptions. Adjustments might be made to these estimates during the measurement period and those adjustments could be material. The warrants issued in the acquisition were initially classified as liabilities subject to mark to market fair value adjustments but were reclassified to equity on June 24, 2022. 6 The provisional amounts for assets acquired and liabilities assumed are based on estimates of their fair values as of the Merger Date and were as follows: (In Thousands) Assets Cash $ 33,152 Trade and other receivables 64,621 Marine operating supplies 5,122 Assets held for sale 2,500 Prepaid expenses and other current assets 5,232 Net properties and equipment 179,707 Indemnification assets (A) 32,279 Other assets 1,153 Total assets 323,766 Liabilities Accounts payable 1,594 Accrued expenses 54,924 Other current liabilities 26,856 Other liabilities 16,886 Total liabilities 100,260 Net assets acquired 223,506 (A) Consists primarily of tax liabilities existing at the Merger Date that are recorded in other current liabilities and other liabilities. Business combination related costs were expensed as incurred in general and administrative expense and consisted of various advisory, legal, accounting, valuation and other professional fees totaling $7.2 million and $9.4 million for the three six June 30, 2022, . Property and equipment acquired in the business combination consisted primarily of offshore support vessels. We recorded property and equipment acquired at estimated fair value of approximately $179.7 million. The fair values of the offshore support vessels were estimated by applying both an income approach, using projected discounted cash flows, and a market approach. We estimate that the remaining useful lives for the vessels acquired fall in the range of one The unaudited supplemental pro forma results present consolidated information as if the business combination were completed on January 1, 2021. not may (In Thousands) Period from Year ended January 1, 2022 December 31, 2021 to June 30, 2022 Revenues $ 578,506 $ 336,275 Net loss (143,509 ) (38,808 )

Note 4 - Allowance for Credit L

Note 4 - Allowance for Credit Losses	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Allowance for Credit Losses [Text Block]	( 4 ALLOWANCE FOR CREDIT LOSSES Expected credit losses are recognized on the initial recognition of our trade accounts receivable and contract assets. In each subsequent reporting period, even if a loss has not Activity in the allowance for credit losses for the six June 30, 2022 Trade Due (In Thousands) and Other from Receivables Affiliates Balance at January 1, 2022 $ 1,948 $ 72,456 Current period provision for expected credit losses 340 — Acquisition of Sonatide joint venture (see Note 8) — (59,678 ) Other — (563 ) Balance at June 30, 2022 $ 2,288 $ 12,215

Note 5 - Revenue Recognition

Note 5 - Revenue Recognition	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	( 5 REVENUE RECOGNITION Refer to Note 14 Contract Balances At June 30, 2022 At June 30, 2022 2022 2023

Note 6 - Stockholders' Equity a

Note 6 - Stockholders' Equity and Dilutive Equity Instruments	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	( 6 STOCKHOLDERS' EQUITY AND DILUTIVE EQUITY INSTRUMENTS Accumulated Other Comprehensive Income (Loss) The changes in accumulated other comprehensive income (loss) (OCI) by component, net of tax, for the three six June 30, 2022 2021 (In Thousands) Three Months Ended June 30, 2022 June 30, 2021 Balance at March 31, 2022 and 2021 $ 2,471 $ (875 ) Unrealized loss on note receivable (846 ) — Pension benefits recognized in OCI 138 (207 ) Balance at June 30, 2022 and 2021 $ 1,763 $ (1,082 ) (In Thousands) Six Months Ended June 30, 2022 June 30, 2021 Balance at December 31, 2021 and 2020 $ 2,668 $ (804 ) Unrealized loss on note receivable (846 ) — Pension benefits recognized in OCI (59 ) (278 ) Balance at June 30, 2022 and 2021 $ 1,763 $ (1,082 ) Dilutive Equity Instruments We had outstanding common shares, incremental "in-the-money" warrants, restricted stock units and stock options at June 30, 2022 2021 Total shares outstanding including warrants, restricted stock units and stock options June 30, 2022 June 30, 2021 Common shares outstanding 42,029,882 41,000,575 New creditor warrants (strike price $ 0.001 395,401 639,354 GulfMark creditor warrants (strike price $ 0.01 309,351 669,601 SPO acquisition warrants (strike price $ 0.001 8,100,000 — Restricted stock units and stock options 1,627,083 1,623,635 Total 52,461,717 43,933,165 We also had “out-of-the-money” warrants outstanding exercisable for 5,923,399 shares of common stock at both June 30, 2022 2021 $57.06 $62.28 $100.00 2023 2024. No (A) The Share Purchase Agreement for SPO included a provision under which the former parent of SPO agreed to indemnify us for certain liabilities and could settle these liabilities, at their option, with cash or SPO acquisition warrants. This provision caused the SPO acquisition warrants to be classified as liabilities which requires a mark to market valuation primarily based on the change in our share price at each reporting period. Absent this provision, the SPO acquisition warrants would have been classified as equity in our balance sheet with the value included in additional paid in capital. On June 24, 2022, June 24, 2022 June 24, 2022

Note 7 - Income Taxes

Note 7 - Income Taxes	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Income Tax Disclosure [Text Block]	( 7 INCOME TAXES We use a discrete effective tax rate method to calculate taxes for interim periods instead of applying the annual effective tax rate to an estimate of the full fiscal year due to the level of volatility and unpredictability of earnings in our industry, both overall and by jurisdiction. Income tax expense for the three six June 30, 2022, The tax liabilities for uncertain tax positions are primarily attributable to permanent establishment issues related to foreign jurisdictions, subpart F income inclusions and withholding taxes on foreign services. Penalties and interest related to income tax liabilities are included in income tax expense. Income tax payable is included in other current liabilities. As of December 31, 2021 June 30, 2022 June 30, 2022 Management assesses all available positive and negative evidence to permit use of existing deferred tax assets. The Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) was enacted on March 27, 2020 2017 five 2020, first 2021. With limited exceptions, we are no March 2015. not

Note 8 - Affiliates Balances

Note 8 - Affiliates Balances	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Equity Method Investments and Joint Ventures Disclosure [Text Block]	( 8 AFFILIATES BALANCES Sonatide (Angola) Prior to 2022, January 2022, The acquisition date was January 3, 2022 ( January 1, 2022 first 2022. three six June 30, 2022, three six June 30, 2022, The acquisition date fair value of the 49% equity interest in Sonatide held by us was zero not Assets acquired and liabilities assumed in the business combination have been recorded at their estimated fair values as of the Sonatide Merger Date under the acquisition method of accounting. We have not The provisional amounts for assets acquired and liabilities assumed are based on estimates of their fair values as of the Sonatide Merger Date and were as follows: (In Thousands) Assets Current assets $ 12,894 Net properties and equipment and other assets 2,908 Total assets 15,802 Liabilities Current liabilities 283 Other liabilities 2,996 Total liabilities 3,279 Net assets acquired 11,223 Bargain purchase gain $ 1,300 The bargain purchase gain of $1.3 million is included in our consolidated statement of operations for the six June 30, 2022 not six December 31, 2021 June 30, 2022, . The unaudited supplemental pro forma results present consolidated information as if the business combination were completed on January 1, 2021. not may January 1, 2021, twelve December 31, 2021 DTDW (Nigeria) In previous years, we had substantial activity in Nigeria and conducted our business through a joint venture (DTDW). In 2020, second 2022, June 30, 2022 zero

Note 9 - Employee Benefit Plans

Note 9 - Employee Benefit Plans	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Retirement Benefits [Text Block]	( 9 EMPLOYEE BENEFIT PLANS U.S. Defined Benefit Pension Plan We have a defined benefit pension plan (pension plan) that covers certain U.S. employees. The pension plan was frozen during 2010. not 2019. Supplemental Executive Retirement Plan We also support a non-contributory and non-qualified defined benefit supplemental executive retirement plan (supplemental plan) which was closed to new participants during 2010. six June 30, 2022 2021 2022. June 30, 2022 December 31, 2021, Net Periodic Benefit Costs The net periodic benefit cost for our defined benefit pension plans and supplemental plan (referred to collectively as “Pension Benefits”) is comprised of the following components: (In Thousands) Three Months Ended Six Months Ended June 30, 2022 June 30, 2021 June 30, 2022 June 30, 2021 Pension Benefits: Interest cost $ 579 $ 543 $ 1,157 $ 1,086 Expected return on plan assets (751 ) (544 ) (1,503 ) (1,087 ) Amortization of net actuarial losses 16 37 32 73 Net periodic pension cost (benefit) $ (156 ) $ 36 $ (314 ) $ 72 The components of the net periodic pension cost are included in the caption “Interest income and other, net.”

Note 10 - Debt

Note 10 - Debt	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Debt Disclosure [Text Block]	( 10 DEBT The following is a summary of all debt outstanding: (In Thousands) June 30, 2022 December 31, 2021 Senior secured bonds: 8.50% $ 175,000 $ 175,000 Debt discount and issuance costs (6,721 ) (7,115 ) Total long-term debt $ 168,279 $ 167,885 (A) As of June 30, 2022 December 31, 2021 2 (B) The $1.2 million restricted cash on the condensed consolidated balance sheet at June 30, 2022 We also have a Super Senior Revolving Credit Facility Agreement maturing on November 16, 2026

Note 11 - Commitments and Conti

Note 11 - Commitments and Contingencies	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	( 11 COMMITMENTS AND CONTINGENCIES Currency Devaluation and Fluctuation Risk Due to our international operations, we are exposed to foreign currency exchange rate fluctuations against the U.S. dollar. For some of our international contracts, a portion of the revenue and local expenses are incurred in local currencies with the result that we are at risk for changes in the exchange rates between the U.S. dollar and foreign currencies. We generally do not not 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

Note 12 - Fair Value Measuremen

Note 12 - Fair Value Measurements	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Fair Value Measurement and Measurement Inputs, Recurring and Nonrecurring [Text Block]	( 12 FAIR VALUE MEASUREMENTS Other Financial Instruments Our primary financial instruments consist of cash and cash equivalents, restricted cash, trade receivables and trade payables with book values that are considered to be representative of their respective fair values. 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. In the second 2022, seven not 90 June 30, 2022 10 15.

Note 13 - Properties and Equipm

Note 13 - Properties and Equipment, Accrued Expenses, Other Current Liabilities, and Other Liabilities	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Other Assets Accrued Expenses Other Current Liabilities And Other Liabilities And Deferred Credits [Text Block]	( 13 PROPERTIES AND EQUIPMENT, ACCRUED EXPENSES, OTHER CURRENT LIABILITIES AND OTHER LIABILITIES As of June 30, 2022 December 31, 2021, A summary of properties and equipment is as follows: (In Thousands) June 30, 2022 December 31, 2021 Properties and equipment: Vessels and related equipment $ 1,078,120 $ 898,649 Other properties and equipment 30,239 19,625 1,108,359 918,274 Less accumulated depreciation and amortization 269,747 230,234 Properties and equipment, net $ 838,612 $ 688,040 A summary of accrued expenses is as follows: (In Thousands) June 30, 2022 December 31, 2021 Payroll and related payables $ 34,021 $ 18,627 Accrued vessel expenses 52,455 19,662 Accrued interest expense 1,859 1,859 Other accrued expenses 20,877 11,586 $ 109,212 $ 51,734 A summary of other current liabilities is as follows: (In Thousands) June 30, 2022 December 31, 2021 Taxes payable $ 43,144 $ 18,977 Other 4,728 4,888 $ 47,872 $ 23,865 A summary of other liabilities is as follows: (In Thousands) June 30, 2022 December 31, 2021 Pension liabilities $ 25,192 $ 26,872 Liability for uncertain tax positions 46,092 29,283 Other 13,904 12,029 $ 85,188 $ 68,184

Note 14 - Segment and Geographi

Note 14 - Segment and Geographic Distribution of Operations	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	( 14 SEGMENT AND GEOGRAPHIC DISTRIBUTION OF OPERATIONS Segment Changes In conjunction with the acquisition of SPO discussed in Note 3, Each of our five operating segments is managed by a senior executive reporting directly to our Chief Executive Officer, the chief operating decision maker. Discrete financial information is available for each of the segments, and our Chief Executive Officer uses the results of each of the operating segments for resource allocation and performance evaluation. The following table provides a comparison of segment revenues, vessel operating profit (loss), depreciation and amortization, and additions to properties and equipment for the three six June 30, 2022 2021 (In Thousands) Three Months Ended Six Months Ended June 30, 2022 June 30, 2021 June 30, 2022 June 30, 2021 Revenues: Vessel revenues: Americas $ 37,520 $ 23,481 $ 65,964 $ 49,705 Asia Pacific 16,362 4,870 21,259 8,442 Middle East 28,396 20,758 48,614 41,600 Europe/Mediterranean 32,475 22,467 56,394 37,216 West Africa 47,422 16,938 73,820 32,544 Other operating revenues 1,272 1,439 3,125 3,950 Total $ 163,447 $ 89,953 $ 269,176 $ 173,457 Vessel operating profit (loss): Americas $ 5,930 $ (4,940 ) $ 5,848 $ (6,591 ) Asia Pacific (899 ) 1,722 1,274 1,667 Middle East (307 ) (1,456 ) (2,190 ) (3,254 ) Europe/Mediterranean 4,262 (1,986 ) 1,833 (10,007 ) West Africa 9,270 (5,355 ) 12,485 (12,122 ) Other operating profit 790 858 2,282 2,302 19,046 (11,157 ) 21,532 (28,005 ) Corporate expenses (15,909 ) (9,070 ) (26,412 ) (16,575 ) Long-lived asset impairment credit — — 500 — Affiliate credit loss impairment credit — 1,000 — 1,000 Loss on asset dispositions, net (1,297 ) (932 ) (1,090 ) (2,880 ) Operating income (loss) $ 1,840 $ (20,159 ) $ (5,470 ) $ (46,460 ) Depreciation and amortization: Americas $ 7,503 $ 7,382 $ 14,619 $ 15,389 Asia Pacific 2,080 1,199 2,929 2,436 Middle East 6,421 5,322 11,827 10,965 Europe/Mediterranean 6,958 7,225 13,720 14,709 West Africa 8,002 6,580 13,743 13,150 Corporate 802 841 1,585 1,627 Total $ 31,766 $ 28,549 $ 58,423 $ 58,276 Additions to properties and equipment: Americas $ 538 $ — $ 538 $ — Asia Pacific 19 (50 ) 19 (42 ) Middle East 2,048 — 2,072 — Europe/Mediterranean 169 287 445 593 West Africa 340 59 690 554 Corporate 1,037 369 1,616 756 Total $ 4,151 $ 665 $ 5,380 $ 1,861 The following table provides a comparison of total assets at June 30, 2022 December 31, 2021 (In Thousands) June 30, 2022 December 31, 2021 Total assets: Americas $ 312,606 $ 278,394 Asia Pacific 141,841 28,564 Middle East 209,336 154,723 Europe/Mediterranean 285,910 293,760 West Africa 293,536 223,988 Corporate 39,506 116,351 $ 1,282,735 $ 1,095,780

Note 15 - Asset Dispositions, A

Note 15 - Asset Dispositions, Assets Held for Sale and Asset Impairments	6 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Asset Impairment Charges [Text Block]	( 15 ASSET DISPOSITIONS, ASSETS HELD FOR SALE AND ASSET IMPAIRMENTS During the six June 30, 2022, June 30, 2022 six June 30, 2022. six June 30, 2021. six June 30, 2022 six June 30, 2021 second 2021, third second 2021, We consider the valuation approach for our assets held for sale to be a Level 3 third no first 2022 not six June 30, 2022 2021, The following table presents the activity in our asset held for sale account for the periods indicated: (In Thousands, except number of vessels) Three Months Ended Number of Vessels June 30, 2022 Number of Vessels June 30, 2021 Beginning balance 12 $ 8,591 20 $ 31,214 Additions 1 2,500 — — Sales (4 ) (4,229 ) (5 ) (11,000 ) Transfers — — (1 ) (3,000 ) Ending balance 9 $ 6,862 14 $ 17,214 (In Thousands, except number of vessels) Six Months Ended Number of Vessels June 30, 2022 Number of Vessels June 30, 2021 Beginning balance 18 $ 14,421 23 $ 34,396 Additions 1 2,500 — — Sales (9 ) (8,559 ) (8 ) (14,182 ) Transfers (1 ) (1,500 ) (1 ) (3,000 ) Ending balance 9 $ 6,862 14 $ 17,214

Note 3 - Acquisition of Swire_2

Note 3 - Acquisition of Swire Pacific Offshore Holdings Ltd (Tables)	6 Months Ended
	Jun. 30, 2022
Notes Tables
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	(In Thousands) Assets Cash $ 33,152 Trade and other receivables 64,621 Marine operating supplies 5,122 Assets held for sale 2,500 Prepaid expenses and other current assets 5,232 Net properties and equipment 179,707 Indemnification assets (A) 32,279 Other assets 1,153 Total assets 323,766 Liabilities Accounts payable 1,594 Accrued expenses 54,924 Other current liabilities 26,856 Other liabilities 16,886 Total liabilities 100,260 Net assets acquired 223,506
Business Acquisition, Pro Forma Information [Table Text Block]	(In Thousands) Period from Year ended January 1, 2022 December 31, 2021 to June 30, 2022 Revenues $ 578,506 $ 336,275 Net loss (143,509 ) (38,808 )

Note 4 - Allowance for Credit_2

Note 4 - Allowance for Credit Losses (Tables)	6 Months Ended
	Jun. 30, 2022
Notes Tables
Financing Receivable, Allowance for Credit Loss [Table Text Block]	Trade Due (In Thousands) and Other from Receivables Affiliates Balance at January 1, 2022 $ 1,948 $ 72,456 Current period provision for expected credit losses 340 — Acquisition of Sonatide joint venture (see Note 8) — (59,678 ) Other — (563 ) Balance at June 30, 2022 $ 2,288 $ 12,215

Note 6 - Stockholders' Equity_2

Note 6 - Stockholders' Equity and Dilutive Equity Instruments (Tables)	6 Months Ended
	Jun. 30, 2022
Notes Tables
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	(In Thousands) Three Months Ended June 30, 2022 June 30, 2021 Balance at March 31, 2022 and 2021 $ 2,471 $ (875 ) Unrealized loss on note receivable (846 ) — Pension benefits recognized in OCI 138 (207 ) Balance at June 30, 2022 and 2021 $ 1,763 $ (1,082 ) (In Thousands) Six Months Ended June 30, 2022 June 30, 2021 Balance at December 31, 2021 and 2020 $ 2,668 $ (804 ) Unrealized loss on note receivable (846 ) — Pension benefits recognized in OCI (59 ) (278 ) Balance at June 30, 2022 and 2021 $ 1,763 $ (1,082 )
Schedule of Total Shares Outstanding Including Warrants and Restricted Stock Units [Table Text Block]	Total shares outstanding including warrants, restricted stock units and stock options June 30, 2022 June 30, 2021 Common shares outstanding 42,029,882 41,000,575 New creditor warrants (strike price $ 0.001 395,401 639,354 GulfMark creditor warrants (strike price $ 0.01 309,351 669,601 SPO acquisition warrants (strike price $ 0.001 8,100,000 — Restricted stock units and stock options 1,627,083 1,623,635 Total 52,461,717 43,933,165

Note 8 - Affiliates Balances (T

Note 8 - Affiliates Balances (Tables)	6 Months Ended
	Jun. 30, 2022
Notes Tables
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed [Table Text Block]	(In Thousands) Assets Current assets $ 12,894 Net properties and equipment and other assets 2,908 Total assets 15,802 Liabilities Current liabilities 283 Other liabilities 2,996 Total liabilities 3,279 Net assets acquired 11,223 Bargain purchase gain $ 1,300

Note 9 - Employee Benefit Pla_2

Note 9 - Employee Benefit Plans (Tables)	6 Months Ended
	Jun. 30, 2022
Notes Tables
Schedule of Net Benefit Costs [Table Text Block]	(In Thousands) Three Months Ended Six Months Ended June 30, 2022 June 30, 2021 June 30, 2022 June 30, 2021 Pension Benefits: Interest cost $ 579 $ 543 $ 1,157 $ 1,086 Expected return on plan assets (751 ) (544 ) (1,503 ) (1,087 ) Amortization of net actuarial losses 16 37 32 73 Net periodic pension cost (benefit) $ (156 ) $ 36 $ (314 ) $ 72

Note 10 - Debt (Tables)

Note 10 - Debt (Tables)	6 Months Ended
	Jun. 30, 2022
Notes Tables
Schedule of Long-Term Debt Instruments [Table Text Block]	(In Thousands) June 30, 2022 December 31, 2021 Senior secured bonds: 8.50% $ 175,000 $ 175,000 Debt discount and issuance costs (6,721 ) (7,115 ) Total long-term debt $ 168,279 $ 167,885

Note 13 - Properties and Equi_2

Note 13 - Properties and Equipment, Accrued Expenses, Other Current Liabilities, and Other Liabilities (Tables)	6 Months Ended
	Jun. 30, 2022
Notes Tables
Property, Plant and Equipment [Table Text Block]	(In Thousands) June 30, 2022 December 31, 2021 Properties and equipment: Vessels and related equipment $ 1,078,120 $ 898,649 Other properties and equipment 30,239 19,625 1,108,359 918,274 Less accumulated depreciation and amortization 269,747 230,234 Properties and equipment, net $ 838,612 $ 688,040
Schedule of Accrued Liabilities [Table Text Block]	(In Thousands) June 30, 2022 December 31, 2021 Payroll and related payables $ 34,021 $ 18,627 Accrued vessel expenses 52,455 19,662 Accrued interest expense 1,859 1,859 Other accrued expenses 20,877 11,586 $ 109,212 $ 51,734
Other Current Liabilities [Table Text Block]	(In Thousands) June 30, 2022 December 31, 2021 Taxes payable $ 43,144 $ 18,977 Other 4,728 4,888 $ 47,872 $ 23,865
Other Liabilities [Table Text Block]	(In Thousands) June 30, 2022 December 31, 2021 Pension liabilities $ 25,192 $ 26,872 Liability for uncertain tax positions 46,092 29,283 Other 13,904 12,029 $ 85,188 $ 68,184

Note 14 - Segment and Geograp_2

Note 14 - Segment and Geographic Distribution of Operations (Tables)	6 Months Ended
	Jun. 30, 2022
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	(In Thousands) Three Months Ended Six Months Ended June 30, 2022 June 30, 2021 June 30, 2022 June 30, 2021 Revenues: Vessel revenues: Americas $ 37,520 $ 23,481 $ 65,964 $ 49,705 Asia Pacific 16,362 4,870 21,259 8,442 Middle East 28,396 20,758 48,614 41,600 Europe/Mediterranean 32,475 22,467 56,394 37,216 West Africa 47,422 16,938 73,820 32,544 Other operating revenues 1,272 1,439 3,125 3,950 Total $ 163,447 $ 89,953 $ 269,176 $ 173,457 Vessel operating profit (loss): Americas $ 5,930 $ (4,940 ) $ 5,848 $ (6,591 ) Asia Pacific (899 ) 1,722 1,274 1,667 Middle East (307 ) (1,456 ) (2,190 ) (3,254 ) Europe/Mediterranean 4,262 (1,986 ) 1,833 (10,007 ) West Africa 9,270 (5,355 ) 12,485 (12,122 ) Other operating profit 790 858 2,282 2,302 19,046 (11,157 ) 21,532 (28,005 ) Corporate expenses (15,909 ) (9,070 ) (26,412 ) (16,575 ) Long-lived asset impairment credit — — 500 — Affiliate credit loss impairment credit — 1,000 — 1,000 Loss on asset dispositions, net (1,297 ) (932 ) (1,090 ) (2,880 ) Operating income (loss) $ 1,840 $ (20,159 ) $ (5,470 ) $ (46,460 ) Depreciation and amortization: Americas $ 7,503 $ 7,382 $ 14,619 $ 15,389 Asia Pacific 2,080 1,199 2,929 2,436 Middle East 6,421 5,322 11,827 10,965 Europe/Mediterranean 6,958 7,225 13,720 14,709 West Africa 8,002 6,580 13,743 13,150 Corporate 802 841 1,585 1,627 Total $ 31,766 $ 28,549 $ 58,423 $ 58,276 Additions to properties and equipment: Americas $ 538 $ — $ 538 $ — Asia Pacific 19 (50 ) 19 (42 ) Middle East 2,048 — 2,072 — Europe/Mediterranean 169 287 445 593 West Africa 340 59 690 554 Corporate 1,037 369 1,616 756 Total $ 4,151 $ 665 $ 5,380 $ 1,861 (In Thousands) June 30, 2022 December 31, 2021 Total assets: Americas $ 312,606 $ 278,394 Asia Pacific 141,841 28,564 Middle East 209,336 154,723 Europe/Mediterranean 285,910 293,760 West Africa 293,536 223,988 Corporate 39,506 116,351 $ 1,282,735 $ 1,095,780

Note 15 - Asset Dispositions,_2

Note 15 - Asset Dispositions, Assets Held for Sale and Asset Impairments (Tables)	6 Months Ended
	Jun. 30, 2022
Notes Tables
Disclosure of Long-Lived Assets Held-for-sale [Table Text Block]	(In Thousands, except number of vessels) Three Months Ended Number of Vessels June 30, 2022 Number of Vessels June 30, 2021 Beginning balance 12 $ 8,591 20 $ 31,214 Additions 1 2,500 — — Sales (4 ) (4,229 ) (5 ) (11,000 ) Transfers — — (1 ) (3,000 ) Ending balance 9 $ 6,862 14 $ 17,214 (In Thousands, except number of vessels) Six Months Ended Number of Vessels June 30, 2022 Number of Vessels June 30, 2021 Beginning balance 18 $ 14,421 23 $ 34,396 Additions 1 2,500 — — Sales (9 ) (8,559 ) (8 ) (14,182 ) Transfers (1 ) (1,500 ) (1 ) (3,000 ) Ending balance 9 $ 6,862 14 $ 17,214

Note 3 - Acquisition of Swire_3

Note 3 - Acquisition of Swire Pacific Offshore Holdings Ltd (Details Textual) $ / shares in Units, $ in Thousands		2 Months Ended	3 Months Ended	6 Months Ended
	Apr. 22, 2022 USD ($) $ / shares shares	Jun. 30, 2022 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2022 USD ($)
Warrans Issued to Acquire Swire Pacific Offshore Holdings Ltd. [Member]
Class of Warrant or Right, Issued During Period, Exercise Price (in dollars per share) | $ / shares	$ 0.001
Swire Pacific Offshore Holdings Ltd. [Member]
Number of Vessels, Offshore Support	50
Payments to Acquire Businesses, Gross	$ 42,000
Payments to Acquire Businesses, Preclosing Working Capital Adjustments	19,600
Business Combination, Consideration Transferred, Total	223,500
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual		$ 43,200
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual		5,300
Business Combination, Acquisition Related Costs			$ 7,200	$ 9,400
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment, Total	$ 179,707	179,700	179,700	$ 179,700
Property, Plant and Equipment, Original Lie of Asset (Year)				20 years
Goodwill, Ending Balance		$ 0	$ 0	$ 0
Swire Pacific Offshore Holdings Ltd. [Member] | Minimum [Member]
Property, Plant and Equipment, Useful Life (Year)				1 year
Swire Pacific Offshore Holdings Ltd. [Member] | Maximum [Member]
Property, Plant and Equipment, Useful Life (Year)				16 years
Swire Pacific Offshore Holdings Ltd. [Member] | Warrans Issued to Acquire Swire Pacific Offshore Holdings Ltd. [Member]
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares) | shares	8,100,000

Note 3 - Acquisition of Swire_4

Note 3 - Acquisition of Swire Pacific Offshore Holdings Ltd - Provisional Amounts for Acquired Assets and Liabilities (Details) - Swire Pacific Offshore Holdings Ltd. [Member] - USD ($) $ in Thousands	Jun. 30, 2022	Apr. 22, 2022	Dec. 31, 2021
Assets
Cash		$ 33,152
Trade and other receivables		64,621
Marine operating supplies		5,122
Assets held for sale		2,500
Prepaid expenses and other current assets		5,232
Net properties and equipment	$ 179,700	179,707
Indemnification assets (A)	$ 30,269	32,279	$ 0
Other assets		1,153
Total assets		323,766
Accounts payable		1,594
Accrued expenses		54,924
Other current liabilities		26,856
Other liabilities		16,886
Total liabilities		100,260
Net assets acquired		$ 223,506

Note 3 - Acquisition of Swire_5

Note 3 - Acquisition of Swire Pacific Offshore Holdings Ltd - Proforma Results (Details) - Swire Pacific Offshore Holdings Ltd. [Member] - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Revenues	$ 336,275	$ 578,506
Net loss	$ (38,808)	$ (143,509)

Note 4 - Allowance for Credit_3

Note 4 - Allowance for Credit Losses - Schedule for Allowance for Credit Losses on Financing Receivables (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Affiliate credit loss impairment credit	$ 0	$ (1,000)	$ 0	$ (1,000)
Trade Accounts Receivable [Member]
Balance			1,948
Affiliate credit loss impairment credit			340
Acquisition of Sonatide joint venture (see Note 8)			0
Other			0
Balance	2,288		2,288
Due from Affiliate [Member]
Balance			72,456
Affiliate credit loss impairment credit			0
Acquisition of Sonatide joint venture (see Note 8)			(59,678)
Other			(563)
Balance	$ 12,215		$ 12,215

Note 5 - Revenue Recognition (D

Note 5 - Revenue Recognition (Details Textual) - Vessel [Member] $ in Millions	Jun. 30, 2022 USD ($)
Prepaid Expenses and Other Current Assets [Member]
Contract with Customer, Asset, after Allowance for Credit Loss, Current, Total	$ 2.7
Other Assets [Member]
Contract with Customer, Asset, after Allowance for Credit Loss, Current, Total	3.3
Other Current Liabilities [Member]
Contract with Customer, Liability, Current	$ 1.6

Note 6 - Stockholders' Equity_3

Note 6 - Stockholders' Equity and Dilutive Equity Instruments (Details Textual) - USD ($) $ / shares in Units, $ in Millions	Jun. 24, 2022	Jun. 30, 2022	Apr. 22, 2022	Jun. 30, 2021
Out-of-the-money Warrants [Member]
Class of Warrant or Right, Outstanding (in shares)		5,923,399		5,923,399
Series A Warrants [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)		$ 57.06		$ 57.06
Series B Warrants [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)		62.28		62.28
GLF Equity Warrants [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)		$ 100		$ 100
Warrans Issued to Acquire Swire Pacific Offshore Holdings Ltd. [Member]
Fair Value Adjustment of Warrants	$ 14.2
Share Price (in dollars per share)	$ 21.83		$ 20.08
Adjustments to Additional Paid in Capital, Warrant Issued	$ 176.8

Note 6 - Stockholders' Equity_4

Note 6 - Stockholders' Equity and Dilutive Equity Instruments - Changes in Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Balance	$ 689,742	$ 788,711	$ 701,769	$ 823,272
Unrealized loss on note receivable	(846)	0	(846)	0
Balance	841,647	759,738	841,647	759,738
AOCI Attributable to Parent [Member]
Balance	2,471	(875)	2,668	(804)
Unrealized loss on note receivable	(846)	0	(846)	0
Balance	1,763	(1,082)	1,763	(1,082)
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
Before reclassifications	$ 138	$ (207)	$ (59)	$ (278)

Note 6 - Stockholders' Equity_5

Note 6 - Stockholders' Equity and Dilutive Equity Instruments - Dilutive Equity Instruments (Details) - shares		Jun. 30, 2022	Dec. 31, 2021	Jun. 30, 2021
Common stock, shares outstanding (in shares)		42,029,882	41,307,617	41,000,575
Total (in shares)		52,461,717		43,933,165
Restricted Stock Units and Stock Options [Member]
Common stock shares reserved (in shares)		1,627,083		1,623,635
New Creditor Warrants [Member]
Common stock shares reserved (in shares)		395,401		639,354
GulfMark Creditor Warrants [Member]
Common stock shares reserved (in shares)		309,351		669,601
SPO Acquisition Warrants [Member]
Common stock shares reserved (in shares)	[1]	8,100,000		0
[1]The Share Purchase Agreement for SPO included a provision under which the former parent of SPO agreed to indemnify us for certain liabilities and could settle these liabilities, at their option, with cash or SPO acquisition warrants. This provision caused the SPO acquisition warrants to be classified as liabilities which requires a mark to market valuation primarily based on the change in our share price at each reporting period. Absent this provision, the SPO acquisition warrants would have been classified as equity in our balance sheet with the value included in additional paid in capital. On June 24, 2022, we amended the Share Purchase Agreement revising the provision to require our consent to use the warrants to satisfy any indemnity liabilities. We recognized a loss associated with the mark to market adjustment on June 24, 2022 totaling $14.2 million based on the share price of $21.83 per share on June 24, 2022 compared to the Merger Date share price of $20.08 per share. The SPO acquisition warrants were reclassified from liabilities to additional paid in capital at the adjusted amount of $176.8 million.

Note 6 - Stockholders' Equity_6

Note 6 - Stockholders' Equity and Dilutive Equity Instruments - Dilutive Equity Instruments (Details) (Parentheticals) - $ / shares	Jun. 30, 2022	Jun. 30, 2021
New Creditor Warrants [Member]
Strike price per common share (in dollars per share)	$ 0.001	$ 0.001
GulfMark Creditor Warrants [Member]
Strike price per common share (in dollars per share)	0.01	0.01
SPO Acquisition Warrants [Member]
Strike price per common share (in dollars per share)	$ 0.001	$ 0.001

Note 7 - Income Taxes (Details

Note 7 - Income Taxes (Details Textual) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2022	Dec. 31, 2021
Deferred Tax Assets, Net, Total		$ 258.6	$ 202.8
Deferred Tax Assets, Valuation Allowance, Total		260.9	$ 204.9
Income Tax Benefit, Cares Act	$ 6.9
SPO [Member]
Deferred Tax Assets, Net, Total		55
Deferred Tax Assets, Valuation Allowance, Total		$ 55

Note 8 - Affiliates Balances (D

Note 8 - Affiliates Balances (Details Textual) $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended		12 Months Ended
	Jan. 31, 2022 USD ($)	Jun. 30, 2022 USD ($)	Dec. 31, 2021	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)	Jan. 01, 2022
Business Combination, Bargain Purchase, Gain Recognized, Amount				$ 1,300	$ 0
Number of Vessels			135	187
DTDW [Member]
Equity Method Investment, Ownership Percentage by Other Owners		60%		60%
Equity Method Investment, Ownership Percentage		40%		40%
Number of Vessels				1
Sonatide [Member]
Equity Method Investment, Ownership Percentage by Other Owners			51%			51%
Sonatide [Member]
Business Combination, Step Acquisition, Equity Interest in Acquiree, Percentage			49%			49%
Business Acquisition, Percentage of Voting Interests Acquired							51%
Payments to Acquire Businesses, Gross	$ 11,200
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual		$ 1,000		$ 2,000
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual		$ 200		100
Business Combination, Bargain Purchase, Gain Recognized, Amount	$ 1,300
Business Acquisition, Pro Forma Revenue						$ 375,400
Business Acquisition, Pro Forma Net Income (Loss)						$ 129,200
Sonatide [Member] | Interest Income and Other, Net [Member]
Business Combination, Bargain Purchase, Gain Recognized, Amount				$ 1,300

Note 8 - Affiliates Balances -

Note 8 - Affiliates Balances - Recognized Identifiable Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	1 Months Ended	6 Months Ended
	Jan. 31, 2022	Jun. 30, 2022	Jun. 30, 2021
Liabilities
Bargain purchase gain		$ 1,300	$ 0
Sonatide [Member]
Assets
Current assets	$ 12,894
Net properties and equipment and other assets	2,908
Total assets	15,802
Liabilities
Current liabilities	283
Other liabilities	2,996
Total liabilities	3,279
Net assets acquired	11,223
Bargain purchase gain	$ 1,300

Note 9 - Employee Benefit Pla_3

Note 9 - Employee Benefit Plans (Details Textual) - Supplemental Employee Retirement Plan [Member] - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Defined Benefit Plan, Plan Assets, Contributions by Employer	$ 0.8	$ 0.8
Defined Benefit Plan, Expected Future Employer Contributions, Remainder of Fiscal Year	0.8
Defined Benefit Plan, Benefit Obligation, Ending Balance	$ 22.5		$ 22.7

Note 9 - Employee Benefit Pla_4

Note 9 - Employee Benefit Plans - Net Periodic Benefit Costs (Details) - Pension Plan And Supplemental Plan [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Interest cost	$ 579	$ 543	$ 1,157	$ 1,086
Expected return on plan assets	(751)	(544)	(1,503)	(1,087)
Amortization of net actuarial losses	16	37	32	73
Net periodic pension cost (benefit)	$ (156)	$ 36	$ (314)	$ 72

Note 10 - Debt (Details Textual

Note 10 - Debt (Details Textual) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Restricted Cash, Current	$ 1,240	$ 1,240
Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity	25,000
Long-Term Line of Credit, Total	0
Nordic Bond [Member]
Debt Instrument, Fair Value Disclosure, Total	$ 178,700	$ 177,600

Note 10 - Debt - Summary of Deb

Note 10 - Debt - Summary of Debt Outstanding (Details) - USD ($) $ in Thousands		Jun. 30, 2022	Dec. 31, 2021
Debt discount and issuance costs		$ (6,721)	$ (7,115)
Total long-term debt		168,279	167,885
The 8.00% Senior Secured Notes due August 2022 [Member]
Long-term debt, gross	[1],[2]	$ 175,000	$ 175,000
[1]As of March 31, 2022 and December 31, 2021 the fair value (Level 2) of the Senior Secured Notes was $184.3 million and $177.6 million, respectively.[2]The $5.0 million restricted cash on the balance sheet at March 31, 2022, represents the prorata amount due for our next semiannual interest payment obligation.

Note 10 - Debt - Summary of D_2

Note 10 - Debt - Summary of Debt Outstanding (Details) (Parentheticals)	Jun. 30, 2022	Dec. 31, 2021
The 8.00% Senior Secured Notes due August 2022 [Member]
Interest rate	8.50%	8.50%

Note 12 - Fair Value Measurem_2

Note 12 - Fair Value Measurements (Details Textual) $ in Millions	6 Months Ended
	Jun. 30, 2022 USD ($)
OCI, Debt Securities, Available-for-Sale, Transfer from Held-to-Maturity, Gain (Loss), before Adjustment and Tax	$ (0.8)
Debt Security, Corporate, Non-US [Member]
Debt Instrument, Interest Rate, Stated Percentage	8.75%
PEMEX [Member]
Accounts Receivable, before Allowance for Credit Loss, Current	$ 8.6

Note 13 - Properties and Equi_3

Note 13 - Properties and Equipment, Accrued Expenses, Other Current Liabilities, and Other Liabilities (Details Textual)	3 Months Ended	6 Months Ended
	Dec. 31, 2021	Jun. 30, 2022
Number of Vessels	135	187
Number of Vessels, Held for Sale	18	9

Note 13 - Properties and Equi_4

Note 13 - Properties and Equipment, Accrued Expenses, Other Current Liabilities and Other Liabilities - Summary of Property and Equipment (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Vessels and related equipment	$ 1,078,120	$ 898,649
Other properties and equipment	30,239	19,625
Property, Plant and Equipment, Gross, Ending Balance	1,108,359	918,274
Less accumulated depreciation and amortization	269,747	230,234
Properties and equipment, net	$ 838,612	$ 688,040

Note 13 - Properties and Equi_5

Note 13 - Properties and Equipment, Accrued Expenses, Other Current Liabilities, and Other Liabilities - Summary of Accrued Expenses (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Payroll and related payables	$ 34,021	$ 18,627
Accrued vessel expenses	52,455	19,662
Accrued interest expense	1,859	1,859
Other accrued expenses	20,877	11,586
Accrued Liabilities, Current, Total	$ 109,212	$ 51,734

Note 13 - Properties and Equi_6

Note 13 - Properties and Equipment, Accrued Expenses, Other Current Liabilities, and Other Liabilities - Summary of Other Current Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Taxes payable	$ 43,144	$ 18,977
Other	4,728	4,888
Other Liabilities, Current	$ 47,872	$ 23,865

Note 13 - Properties and Equi_7

Note 13 - Properties and Equipment, Accrued Expenses, Other Current Liabilities, and Other Liabilities - Other liabilities and Deferred Credits (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Pension liabilities	$ 25,192	$ 26,872
Liability for uncertain tax positions	46,092	29,283
Other	13,904	12,029
Other Liabilities, Noncurrent	$ 85,188	$ 68,184

Note 14 - Segment and Geograp_3

Note 14 - Segment and Geographic Distribution of Operations (Details Textual)	6 Months Ended
	Jun. 30, 2022
Number of Operating Segments	5

Note 14 - Segment and Geograp_4

Note 14 - Segment and Geographic Distribution of Operations - Segment Reporting Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Revenue	$ 163,447	$ 89,953	$ 269,176	$ 173,457
Corporate expenses	161,607	110,112	274,646	219,917
Long-lived asset impairment credit	0	0	500	0
Affiliate credit loss impairment credit	0	1,000	0	1,000
Loss on asset dispositions, net	(1,297)	(932)	(1,090)	(2,880)
Operating income (loss)	1,840	(20,159)	(5,470)	(46,460)
Depreciation and amortization	31,766	28,549	58,423	58,276
Property Plant And Equipment Additions	4,151	665	5,380	1,861
Total Assets	1,282,735		1,282,735		$ 1,095,780
Vessel [Member]
Revenue	162,175	88,514	266,051	169,507
Product and Service, Other [Member]
Revenue	1,272	1,439	3,125	3,950
Operating Segments [Member]
Revenue	163,447	89,953	269,176	173,457
Gross Profit	19,046	(11,157)	21,532	(28,005)
Operating Segments [Member] | Product and Service, Other [Member]
Revenue	1,272	1,439	3,125	3,950
Gross Profit	790	858	2,282	2,302
Operating Segments [Member] | Americas [Member]
Depreciation and amortization	7,503	7,382	14,619	15,389
Property Plant And Equipment Additions	538	0	538	0
Total Assets	312,606		312,606		278,394
Operating Segments [Member] | Americas [Member] | Vessel [Member]
Revenue	37,520	23,481	65,964	49,705
Gross Profit	5,930	(4,940)	5,848	(6,591)
Operating Segments [Member] | Asia Pacific [Member]
Depreciation and amortization	2,080	1,199	2,929	2,436
Property Plant And Equipment Additions	19	(50)	19	(42)
Total Assets	141,841		141,841		28,564
Operating Segments [Member] | Asia Pacific [Member] | Vessel [Member]
Revenue	16,362	4,870	21,259	8,442
Gross Profit	(899)	1,722	1,274	1,667
Operating Segments [Member] | Middle East [Member]
Depreciation and amortization	6,421	5,322	11,827	10,965
Property Plant And Equipment Additions	2,048	0	2,072	0
Total Assets	209,336		209,336		154,723
Operating Segments [Member] | Middle East [Member] | Vessel [Member]
Revenue	28,396	20,758	48,614	41,600
Gross Profit	(307)	(1,456)	(2,190)	(3,254)
Operating Segments [Member] | Europe and Mediterranean [Member]
Depreciation and amortization	6,958	7,225	13,720	14,709
Property Plant And Equipment Additions	169	287	445	593
Total Assets	285,910		285,910		293,760
Operating Segments [Member] | Europe and Mediterranean [Member] | Vessel [Member]
Revenue	32,475	22,467	56,394	37,216
Gross Profit	4,262	(1,986)	1,833	(10,007)
Operating Segments [Member] | West Africa [Member]
Depreciation and amortization	8,002	6,580	13,743	13,150
Property Plant And Equipment Additions	340	59	690	554
Total Assets	293,536		293,536		223,988
Operating Segments [Member] | West Africa [Member] | Vessel [Member]
Revenue	47,422	16,938	73,820	32,544
Gross Profit	9,270	(5,355)	12,485	(12,122)
Corporate, Non-Segment [Member]
Corporate expenses	(15,909)	(9,070)	(26,412)	(16,575)
Depreciation and amortization	802	841	1,585	1,627
Property Plant And Equipment Additions	1,037	$ 369	1,616	$ 756
Total Assets	$ 39,506		$ 39,506		$ 116,351

Note 15 - Asset Dispositions,_3

Note 15 - Asset Dispositions, Assets Held for Sale and Asset Impairments (Details Textual) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2022 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Dec. 31, 2021
Number of Vessels, Held for Sale, Addition			1
Number Of Vessels Sold Or Scrapped			9
Number of Vessels, Held for Sale, Reactivation			1
Number of Vessels, Held for Sale			9		18
Asset Held For Sale, Net Book Value			$ 6,900
Number of Active Vessels Sold			0	5
Number of Vessels, Held for Sale, Sold				8
Proceeds from Sale of Vessels			$ 8,200	$ 29,400
Gain (Loss) on Sale of Assets and Asset Impairment Charges			(1,100)	(2,900)
Proceeds from Sale of Productive Assets, Total			8,163	29,560
Impairment Charge Recaptured	$ 500
Impairment of Long-Lived Assets to be Disposed of			$ 0	$ 0
Third-party Operator, Family Member of Director [Member]
Gain (Loss) on Sale of Assets and Asset Impairment Charges		$ 4,300
Proceeds from Sale of Productive Assets, Total		$ 11,400

Note 15 - Asset Dispositions,_4

Note 15 - Asset Dispositions, Assets Held for Sale and Asset Impairments - Activity in Assets Held for Sale (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)
Beginning balance			18
Additions			1
Sales				(8)
Transfers	0	(1)	(1)	(1)
Transfers	$ 0	$ (3,000)	$ (1,500)	$ (3,000)
Ending balance	9		9
Vessels Held for Sale [Member]
Beginning balance	12	20	18	23
Beginning balance	$ 8,591	$ 31,214	$ 14,421	$ 34,396
Additions	1	0	1	0
Additions	$ 2,500	$ 0	$ 2,500	$ 0
Sales	(4)	(5)	(9)	(8)
Sales	$ (4,229)	$ (11,000)	$ (8,559)	$ (14,182)
Ending balance	9	14	9	14
Ending balance	$ 6,862	$ 17,214	$ 6,862	$ 17,214