Tidewater (TDW) 10-Q 3 Feb 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Dec. 31, 2015	Jan. 22, 2016
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Dec. 31, 2015
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Trading Symbol	TDW
Entity Registrant Name	TIDEWATER INC
Entity Central Index Key	98,222
Current Fiscal Year End Date	--03-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		46,969,590

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Dec. 31, 2015	Mar. 31, 2015
Current assets:
Cash and cash equivalents	$ 47,980	$ 78,568
Trade and other receivables, net	261,209	303,096
Due from affiliate	336,474	420,365
Marine operating supplies	38,719	49,005
Other current assets	60,819	17,781
Total current assets	745,201	868,815
Investments in, at equity, and advances to unconsolidated companies	45,663	65,844
Properties and equipment:
Vessels and related equipment	4,681,306	4,717,132
Other properties and equipment	120,969	119,879
Properties and equipment, gross	4,802,275	4,837,011
Less accumulated depreciation and amortization	1,194,974	1,090,704
Net properties and equipment	3,607,301	3,746,307
Other assets	82,350	75,196
Total assets	4,480,515	4,756,162
Current liabilities:
Accounts payable	61,019	54,011
Accrued expenses	96,604	146,255
Due to affiliate	169,943	185,657
Accrued property and liability losses	3,443	3,669
Current portion of long-term debt	9,810	10,181
Other current liabilities	66,253	82,461
Total current liabilities	407,072	482,234
Long-term debt	1,441,924	1,524,295
Deferred income taxes	35,600	23,276
Accrued property and liability losses	9,748	10,534
Other liabilities and deferred credits	$ 210,239	$ 235,108
Commitments and Contingencies (Note 7)
Equity:
Common stock of $0.10 par value, 125,000,000 shares authorized, issued 46,969,590 shares at December 31, 2015 and 47,029,359 shares at March 31, 2015	$ 4,697	$ 4,703
Additional paid-in capital	168,753	159,940
Retained earnings	2,216,862	2,330,223
Accumulated other comprehensive loss	(20,237)	(20,378)
Total stockholders’ equity	2,370,075	2,474,488
Noncontrolling Interests	5,857	6,227
Total equity	2,375,932	2,480,715
Total liabilities and equity	$ 4,480,515	$ 4,756,162

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Dec. 31, 2015	Mar. 31, 2015
Statement Of Financial Position [Abstract]
Common stock, par value	$ 0.10	$ 0.10
Common stock, shares authorized	125,000,000	125,000,000
Common stock, issued	46,969,590	47,029,359

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS (Unaudited) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Revenues:
Vessel revenues		$ 212,908	$ 378,126	$ 775,352	$ 1,150,588
Other operating revenues		5,283	9,428	19,536	20,167
Total revenues		218,191	387,554	794,888	1,170,755
Costs and expenses:
Vessel operating costs		125,094	210,365	462,987	640,428
Costs of other operating revenues		3,778	8,395	15,624	19,616
General and administrative		35,598	46,642	116,837	144,464
Vessel operating leases		8,441	7,165	25,325	20,247
Depreciation and amortization		45,422	43,331	137,058	130,150
Gain on asset dispositions, net		(5,883)	(4,699)	(19,345)	(13,092)
Asset impairments	[1]	15,141	6,236	61,771	8,096
Goodwill impairment			283,699		283,699	[2]
Restructuring charge	[3]			7,586
Total costs and expenses		227,591	601,134	807,843	1,233,608
Operating loss		(9,400)	(213,580)	(12,955)	(62,853)
Other income (expenses):
Foreign exchange gain (loss)		(469)	4,334	(3,758)	8,453
Equity in net earnings (losses) of unconsolidated companies		(1,710)		(7,070)	9,104
Interest income and other, net		609	434	1,754	1,555
Interest and other debt costs, net		(13,312)	(12,239)	(39,741)	(37,927)
Total other income (expenses)		(14,882)	(7,471)	(48,815)	(18,815)
Loss before income taxes		(24,282)	(221,051)	(61,770)	(81,668)
Income tax expense (benefit)		(4,679)	(60,070)	16,996	(25,211)
Net Loss		(19,603)	(160,981)	(78,766)	(56,457)
Less: Net losses attributable to noncontrolling interests		(94)	(287)	(370)	(343)
Net loss attributable to Tidewater Inc.		$ (19,509)	$ (160,694)	$ (78,396)	$ (56,114)
Basic loss per common share	[4]	$ (0.42)	$ (3.31)	$ (1.67)	$ (1.14)
Diluted loss per common share	[5]	$ (0.42)	$ (3.31)	$ (1.67)	$ (1.14)
Weighted average common shares outstanding		46,943,705	48,481,722	46,956,041	49,213,712
Adjusted weighted average common shares		46,943,705	48,481,722	46,956,041	49,213,712
[1]	Refer to Note (15) for additional information regarding asset impairment charges.
[2]	The total carrying amount of goodwill at March 31, 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
[3]	Refer to Note (14) for additional information regarding the restructuring charge.
[4]	The company calculates “Loss per share, basic” by dividing “Net loss available to common shareholders” by “Weighted average outstanding share of common stock, basic”.
[5]	The company calculates “Loss per share, diluted” by dividing “Net loss available to common shareholders” by “Weighted average common stock and equivalents”.

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Statement Of Income And Comprehensive Income [Abstract]
Net loss	$ (19,603)	$ (160,981)	$ (78,766)	$ (56,457)
Other comprehensive income (loss):
Unrealized gains (losses) on available for sale securities, net of tax of $0, $(29), $0 and $43	212	(54)	(467)	79
Amortization of loss on derivative contract, net of tax of $0, $62, $0 and $188	180	116	538	349
Change in other benefit plan minimum liability, net of tax of $0, $0, $0 and $70			70	131
Total comprehensive loss	$ (19,211)	$ (160,919)	$ (78,625)	$ (55,898)

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Statement Of Income And Comprehensive Income [Abstract]
Unrealized gains(losses) on available-for-sale securities, tax	$ 0	$ (29)	$ 0	$ 43
Amortization of loss on derivative contract, tax	0	62	0	188
Change in Other Benefit Plan minimum liability, tax	$ 0	$ 0	$ 0	$ 70

CONDENSED CONSOLIDATED STATEME7

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands		9 Months Ended
		Dec. 31, 2015	Dec. 31, 2014
Operating activities:
Net loss		$ (78,766)	$ (56,457)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization		137,058	130,150
Provision (benefit) for deferred income taxes		192	(77,278)
Gain on asset dispositions, net		(19,345)	(13,092)
Asset impairments	[1]	61,771	8,096
Goodwill impairment	[2]		283,699
Equity in earnings (losses) of unconsolidated companies, less dividends		22,087	(1,550)
Compensation expense - stock-based		9,960	16,395
Changes in assets and liabilities, net:
Trade and other receivables		38,726	(48,876)
Changes in due to/from affiliate, net		68,177	78,881
Marine operating supplies		9,786	1,243
Other current assets		1,711	3,090
Accounts payable		6,862	(29,052)
Accrued expenses		(51,068)	(6,856)
Accrued property and liability losses		(226)	(366)
Other current liabilities		(17,239)	(437)
Other liabilities and deferred credits		2,406	(3,025)
Other, net		(699)	(9,006)
Net cash provided by operating activities		191,393	275,559
Cash flows from investing activities:
Proceeds from sales of assets		8,428	5,160
Proceeds from sale/leaseback of assets			110,694
Additions to properties and equipment		(152,225)	(231,685)
Refunds from cancelled vessel construction contracts		36,190
Other		(210)	127
Net cash used in investing activities		(107,817)	(115,704)
Cash flows from financing activities:
Principal payment on long-term debt		(109,163)	(27,206)
Debt borrowings		31,338	20,000
Proceeds from exercise of stock options			1,025
Cash dividends		(35,378)	(36,997)
Repurchases of common stock			(99,999)
Other		(961)	351
Net cash used in financing activities		(114,164)	(142,826)
Net change in cash and cash equivalents		(30,588)	17,029
Cash and cash equivalents at beginning of period		78,568	60,359
Cash and cash equivalents at end of period		47,980	77,388
Cash paid during the period for:
Interest, net of amounts capitalized		47,608	48,046
Income taxes		38,208	57,987
Supplemental disclosure of non-cash investing activities:
Additions to properties and equipment		$ 146	$ 3,386
[1]	Refer to Note (15) for additional information regarding asset impairment charges.
[2]	The total carrying amount of goodwill at March 31, 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 STATEME8

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY (Unaudited) - USD ($) $ in Thousands	Total	Common stock	Additional paid-in capital	Retained earnings	Accumulated other comprehensive loss	Non controlling interest
Balance at Mar. 31, 2014	$ 2,685,371	$ 4,973	$ 142,381	$ 2,544,255	$ (12,225)	$ 5,987
Total comprehensive loss	(55,898)			(56,114)	559	(343)
Cash dividends declared ($.75 per share)	(37,229)			(37,229)
Amortization of restricted stock units	12,496	1	12,495
Amortization/cancellation of restricted stock	2,599	(4)	2,603
Balance at Dec. 31, 2014	2,508,765	4,689	158,501	2,351,197	(11,666)	6,044
Exercise of stock options	1,025	3	1,022
Retirement of common stock	(99,999)	(284)		(99,715)
Cash received from noncontrolling interests	450					450
Cash paid to noncontrolling interests	(50)					(50)
Balance at Mar. 31, 2014	2,685,371	4,973	142,381	2,544,255	(12,225)	5,987
Balance at Mar. 31, 2015	2,480,715	4,703	159,940	2,330,223	(20,378)	6,227
Retirement of common stock	(99,999)
Total comprehensive loss	(78,625)			(78,396)	141	(370)
Stock option expense	609		609
Cash dividends declared ($.75 per share)	(34,965)			(34,965)
Amortization of restricted stock units	7,844	1	7,843
Amortization/cancellation of restricted stock	354	(7)	361
Balance at Dec. 31, 2015	$ 2,375,932	$ 4,697	$ 168,753	$ 2,216,862	$ (20,237)	$ 5,857

CONDENSED CONSOLIDATED STATEME9

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY (Unaudited) (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Statement Of Stockholders Equity [Abstract]
Cash dividends, per share declared	$ 0.25	$ 0.25	$ 0.75	$ 0.75

INTERIM FINANCIAL STATEMENTS

INTERIM FINANCIAL STATEMENTS	9 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
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, 2015, filed with the SEC on May 28, 2015. 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, specifically, the separate disclosure on the income statement and related schedules of asset impairments, which historically were included as part of gain on asset dispositions, net. These reclassifications did not have a material effect on the condensed consolidated statements of earnings, balance sheets or cash flows.

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	9 Months Ended
	Dec. 31, 2015
Equity [Abstract]
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 million to repurchase shares of its common stock in open-market or privately-negotiated transactions. In May 2015, the company’s Board of Directors authorized an extension of its May 2014 common stock repurchase program from its original expiration date of June 30, 2015 to June 30, 2016. In fiscal 2015, $100 million was used to repurchase common stock under the May 2014 share repurchase program. No shares were repurchased by the company during the period from March 31, 2015 to December 31, 2015, and as of the end of this period $100 million remained authorized and available to repurchase shares under the May 2014 share repurchase program. In January 2016, the company suspended its common stock repurchase program. The aggregate dollar outlay for common stock repurchased, along with the number of shares repurchased, and average price paid per share, for the quarters and nine-month periods ended December 31 is as follows: Quarter Ended Nine Months Ended December 31, December 31, (In thousands, except share and per share data) 2015 2014 2015 2014 Aggregate dollar outlay for common stock repurchased $ — 99,999 — 99,999 Shares of common stock repurchased — 2,841,976 — 2,841,976 Average price paid per common share $ — 35.19 — 35.19 Dividends The declaration of dividends is at the discretion of the company’s Board of Directors, and will depend on the company’s financial results, cash requirements, future prospects, and other factors deemed relevant by the Board of Directors. The Board of Directors declared the following dividends for the quarters and nine-month periods ended December 31: Quarter Ended Nine Months Ended December 31, December 31, (In thousands, except dividend per share) 2015 2014 2015 2014 Dividends declared $ 11,811 12,029 34,965 37,229 Dividend per share 0.25 0.25 0.75 0.75 In January 2016, the company suspended the quarterly dividend program. Accumulated Other Comprehensive Income (Loss) The changes in accumulated other comprehensive income (loss) by component, net of tax for the quarters and nine month periods ended December 31, 2015 and 2014 are as follows: For the quarter ended December 31, 2015 For the nine months ended December 31, 2015 Balance Gains/(losses) Reclasses Net Remaining Balance Gains/(losses) Reclasses Net Remaining at recognized from period balance at recognized from period balance (in thousands) 9/30/15 in OCI net income OCI 12/31/15 3/31/15 in OCI net income OCI 12/31/15 Available for sale securities (444 ) 235 (24 ) 211 (233 ) 235 (569 ) 101 (468 ) (233 ) Currency translation adjustment (9,811 ) — — — (9,811 ) (9,811 ) — — — (9,811 ) Pension/Post- retirement benefits (9,059 ) — — — (9,059 ) (9,129 ) 70 — 70 (9,059 ) Interest rate swaps (1,314 ) — 180 180 (1,134 ) (1,673 ) — 539 539 (1,134 ) Total (20,628 ) 235 156 391 (20,237 ) (20,378 ) (499 ) 640 141 (20,237 ) For the quarter ended December 31, 2014 For the nine months ended December 31, 2014 Balance Gains/(losses) Reclasses Net Remaining Balance Gains/(losses) Reclasses Net Remaining at recognized from period balance at recognized from period balance (in thousands) 9/30/14 in OCI net income OCI 12/31/14 3/31/14 in OCI net income OCI 12/31/14 Available for sale securities 225 (73 ) 19 (54 ) 171 92 (76 ) 155 79 171 Currency translation adjustment (9,811 ) — — — (9,811 ) (9,811 ) — — — (9,811 ) Pension/Post- retirement benefits 15 — — — 15 (116 ) 131 — 131 15 Interest rate swaps (2,157 ) — 116 116 (2,041 ) (2,390 ) — 349 349 (2,041 ) Total (11,728 ) (73 ) 135 62 (11,666 ) (12,225 ) 55 504 559 (11,666 ) The following table summarizes the reclassifications from accumulated other comprehensive income (loss) to the condensed consolidated statement of income for the quarters and nine month periods ended December 31, 2015 and 2014: Quarter Ended Nine Months Ended December 31, December 31 Affected line item in the (In thousands) 2015 2014 2015 2014 consolidated statements of income Realized gains on available for sale securities $ (37 ) 29 155 238 Interest income and other, net Amortization of interest rate swap 277 178 829 537 Interest and other debt costs Total pre-tax amounts 240 207 984 775 Tax effect 84 72 344 271 Total gains for the period, net of tax $ 156 135 640 504

INCOME TAXES

INCOME TAXES	9 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
INCOME TAXES	(3) INCOME TAXES We have historically calculated the provision for income taxes during interim reporting periods by applying an estimate of the annual effective tax rate for the full fiscal year to “ordinary” income or loss (pretax income or loss excluding unusual or infrequently occurring discrete items) for the reporting period. We have used a discrete effective tax rate method to calculate taxes for the three and nine-month periods ended December 31, 2015. We determined that since small changes in estimated “ordinary” income would result in significant changes in the estimated annual effective tax rate, the historical method would not provide a reliable estimate for the three and nine-month periods ended December 31, 2015. Income tax expense for the three and nine-month periods ended December 31, 2015 reflects tax liabilities in various jurisdictions that are based on revenue (deemed profit regimes) rather than pre-tax profits. The company’s balance sheet at December 31, 2015 reflects the following in accordance with Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) 740, Income Taxes December 31, (In thousands) 2015 Tax liabilities for uncertain tax positions $ 14,591 Income tax payable 27,581 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 December 31, 2015, are as follows: December 31, (In thousands) 2015 Unrecognized tax benefit related to state tax issues $ 11,732 Interest receivable on unrecognized tax benefit related to state tax issues 38 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 2008. 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	9 Months Ended
	Dec. 31, 2015
Compensation And Retirement Disclosure [Abstract]
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 pension plan is currently adequately funded and the company did not contribute to the pension plan during the quarters and nine months ended December 31, 2015 and 2014, and does not expect to contribute to the pension plan during the fourth quarter of fiscal 2016. 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 the company’s stock), are recorded at fair value with unrealized gains or losses included in accumulated other comprehensive income (loss). 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 and nine months ended December 31, 2015 and 2014, and does not expect to contribute to the supplemental plan during the fourth quarter of fiscal 2016. 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 December 31, 2015 and March 31, 2015: December 31, March 31, (In thousands) 2015 2015 Investments held in Rabbi Trust $ 9,072 9,915 Unrealized gains (losses) in fair value of trust assets 233 235 Obligations under the supplemental plan 27,143 25,510 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 plan which provides limited health care and life insurance benefits. Costs of the plan 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 by the company as benefits are required. Effective November 20, 2015, the company eliminated its post-65 medical coverage for all current and future retirees effective January 1, 2017. The plan amendment resulted in an additional estimated net periodic postretirement benefit of $0.6 million during the quarter and nine-month period ended December 31, 2015. The medical coverage remains unchanged for participants under age 65. Net Periodic Benefit Costs The net periodic benefit cost for the company’s U.S. defined benefit pension plan and 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 Nine Months Ended December 31, December 31, (In thousands) 2015 2014 2015 2014 Pension Benefits: Service cost $ 234 206 702 618 Interest cost 935 968 2,805 2,904 Expected return on plan assets (530 ) (685 ) (1,590 ) (2,055 ) Amortization of prior service cost 9 12 27 36 Recognized actuarial loss 567 247 1,701 741 Net periodic benefit cost $ 1,215 748 3,645 2,244 Other Benefits: Service cost $ 41 68 191 204 Interest cost 103 226 524 678 Amortization of prior service cost (899 ) (508 ) (1,920 ) (1,524 ) Recognized actuarial benefit (281 ) (325 ) (770 ) (975 ) Net periodic benefit cost $ (1,036 ) (539 ) (1,975 ) (1,617 ) Other Plans Effective December 1, 2015, the company amended its existing multinational savings plan to a self-directed multinational defined contribution retirement plan (multinational retirement plan). The company subsequently removed approximately

INDEBTEDNESS

INDEBTEDNESS	9 Months Ended
	Dec. 31, 2015
Debt Disclosure [Abstract]
INDEBTEDNESS	(5) INDEBTEDNESS Senior Notes, Revolving Credit and Term Loan Agreement In May 2015, the company amended and extended its existing credit facility. The amended credit agreement matures in June 2019 and provides for a $900 million, five-year credit facility consisting of (i) a $600 million revolving credit facility and (ii) a $300 million term loan facility. At December 31, 2015 the company was in compliance with all covenants set forth in its debt facilities and note indentures, however, given the current trajectory of offshore energy market conditions, which has had a corresponding negative effect on our vessel revenue and other financial metrics, it is possible that in future quarters (and possibly as early as fiscal 2017) that the company may cease being in compliance with interest coverage ratios contained in certain of its debt facilities and senior note indentures. Failure to meet the required interest coverage ratios would be an event of default under certain of our debt facilities. The company is in dialogue with the principal lenders and noteholders to obtain amendments and/or waivers of these covenants in advance of any such default occurring, with the goal of finalizing any amendments and/or waivers prior to any possible covenant breach. Any such amendments and/or waivers would require successful negotiations with our bank group and certain noteholders, and would likely require the company to make certain concessions, such as potentially providing collateral or accepting a reduction in total borrowing capacity under the revolving credit facility. Obtaining the covenant relief that we are seeking will require the company to successfully harmonize the interests of the noteholders and the banks. U.S. Dollar Denominated Debt The following is a summary of debt outstanding at December 31, 2015 and March 31, 2015: December 31, March 31, (In thousands, except weighted average data) 2015 2015 Credit facility: Term loan agreement (A) $ 300,000 300,000 Revolving line of credit (A) (B) — 20,000 September 2013 senior unsecured notes: Aggregate debt outstanding $ 500,000 500,000 Weighted average remaining life in years 7.6 8.4 Weighted average coupon rate on notes outstanding 4.86 % 4.86 % Fair value of debt outstanding (Level 2) $ 425,950 516,879 August 2011 senior unsecured notes: Aggregate debt outstanding $ 165,000 165,000 Weighted average remaining life in years 4.8 5.6 Weighted average coupon rate on notes outstanding 4.42 % 4.42 % Fair value of debt outstanding (Level 2) $ 147,081 167,910 September 2010 senior unsecured notes (C): Aggregate debt outstanding $ 382,500 425,000 Weighted average remaining life in years 4.3 4.6 Weighted average coupon rate on notes outstanding 4.35 % 4.25 % Fair value of debt outstanding (Level 2) $ 344,634 431,296 July 2003 senior unsecured notes (D): Aggregate debt outstanding $ — 35,000 Weighted average remaining life in years — 0.3 Weighted average coupon rate on notes outstanding — 4.61 % Fair value of debt outstanding (Level 2) $ — 35,197 May 2015 notes (E) (F): Amount outstanding $ 30,033 — Fair value of debt outstanding (Level 2) 30,047 — March 2015 notes (F): Amount outstanding $ 28,259 29,488 Fair value of debt outstanding (Level 2) 28,265 29,501 (A) Fair values approximate carrying values because the borrowings bear interest at variable rates. (B) $600 million and $580 million was available under the revolver at December 31, 2015 and March 31, 2015, respectively. (C) Principal repayments of $42.5 million were paid during the quarter ended December 31, 2015. (D) Remaining $35 million of borrowings fully paid in July 2015. (E) In May 2015, a wholly owned subsidiary of the company entered into a $31.3 million, U.S. dollar denominated, 12 year borrowing agreement which matures in April 2027 and is secured by a guarantee by Tidewater Inc. The loan requires semi-annual principal payments of $1.3 million (plus accrued interest) and bears interest at a fixed rate of 2.92% plus a spread based on Tidewater Inc.’s consolidated funded indebtedness to total capitalization ratio (currently equal to 1.30% for a total rate of 4.22%). (F) Notes require semi-annual principal payments. Norwegian Kroner Denominated Debt The following is a summary of the Norwegian Kroner (NOK) denominated borrowings outstanding at December 31, 2015 and March 31, 2015, and their U.S. dollar equivalents: December 31, March 31, (In thousands) 2015 2015 3.81% January 2014 notes (A): NOK denominated 262,500 275,000 U.S. dollar equivalent $ 29,606 34,234 Fair value in U.S. dollar equivalent (Level 2) 29,612 34,226 5.38% May 2012 notes (A): NOK denominated 144,840 161,880 U.S. dollar equivalent $ 16,336 20,152 Fair value in U.S. dollar equivalent (Level 2) 16,329 19,924 Variable rate borrowings: June 2013 borrowing agreement (B) (C) NOK denominated — 25,000 U.S. dollar equivalent $ — 3,112 May 2012 borrowing agreement (B) (D) NOK denominated — 20,000 U.S. dollar equivalent $ — 2,490 (A) Notes require semi-annual principal payments. (B) Fair values approximate carrying values because the borrowings bear interest at variable rates. (C) Remaining note balance was repaid in September 2015. The company recognized a $0.1 million gain on early extinguishment. (D) Note was repaid in May 2015 upon maturity. Debt Costs The company capitalizes a portion of its interest costs incurred on borrowed funds used to construct vessels. The following is a summary of interest and debt costs incurred, net of interest capitalized, for the quarters and nine-month periods ended December 31: Quarter Ended Nine Months Ended December 31, December 31, (In thousands) 2015 2014 2015 2014 Interest and debt costs incurred, net of interest capitalized $ 13,312 12,239 39,741 37,927 Interest costs capitalized 2,513 3,638 8,280 9,920 Total interest and debt costs $ 15,825 15,877 48,021 47,847

LOSS PER SHARE

LOSS PER SHARE	9 Months Ended
	Dec. 31, 2015
Earnings Per Share [Abstract]
LOSS PER SHARE	(6) LOSS PER SHARE The components of basic and diluted loss per share for the quarters and the nine-month periods ended December 31, are as follows: Quarter Ended Nine Months Ended December 31, December 31, (In thousands, except share and per share data) 2015 2014 2015 2014 Net loss available to common shareholders $ (19,509 ) (160,694 ) (78,396 ) (56,114 ) Weighted average outstanding shares of common stock, basic 46,943,705 48,481,722 46,956,041 49,213,712 Dilutive effect of options and restricted stock awards and units — — — — Weighted average common stock and equivalents 46,943,705 48,481,722 46,956,041 49,213,712 Loss per share, basic (A) $ (0.42 ) (3.31 ) (1.67 ) (1.14 ) Loss per share, diluted (B) $ (0.42 ) (3.31 ) (1.67 ) (1.14 ) Additional information: Antidilutive incremental options and restricted stock awards and units 455,663 158,575 385,073 231,171 (A) The company calculates “Loss per share, basic” by dividing “Net loss available to common shareholders” by “Weighted average outstanding share of common stock, basic”. (B) The company calculates “Loss per share, diluted” by dividing “Net loss available to common shareholders” by “Weighted average common stock and equivalents ”.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Dec. 31, 2015
Commitments And Contingencies Disclosure [Abstract]
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, by vessel type, as of December 31, 2015: Number Invested Remaining of Total Through Balance (In thousands, except vessel count) Vessels Cost 12/31/15 12/31/15 Vessels under construction (A): Deepwater PSVs 8 $ 335,746 231,256 104,490 Towing-supply vessels 1 16,280 13,580 2,700 Total vessel commitments (B) 9 $ 352,026 244,836 107,190 (A) Six additional option vessels and a fast supply boat are not included in the table above. (B) The company is entitled to receive a refund of prior shipyard payments totaling approximately $43 million (of which $12 million was received in January 2016) which would offset the remaining balance of vessel commitments. See further discussion below. The total cost of the various vessel new-build commitments includes contract costs and other incidental costs. The company has vessels under construction at different shipyards around the world. The deepwater platform supply vessels (PSVs) under construction range between 4,200 and 6,000 deadweight tons (DWT) of cargo capacity and the towing-supply vessel under construction has 7,145 brake horsepower (BHP). Delivery of the new-build vessels began in January 2016, with delivery of the towing supply vessel and two of the deepwater PSVs. The delivery of the final new-build vessel is expected in May 2017. The company has approximately $107 million in unfunded capital commitments associated with the nine vessels under construction (approximately $64 million, net of $43 million of expected refunds from shipyards) at December 31, 2015. The company has successfully replaced the vast majority of the older vessels in 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 delivery of the remaining nine vessels currently under construction. The company anticipates that it will use some portion of its future operating cash flows and existing borrowing capacity in order to fund current and any future commitments in connection with the completion of the fleet renewal and modernization program. In June 2015, the company entered into settlement agreements with an international shipyard, which at the time was constructing six 7,145 BHP towing-supply-class vessels and six 261-foot, 4,700 DWT tons of cargo capacity, deepwater PSVs. Under the settlement agreements, contracts for three 7,145 BHP towing-supply-class vessels were terminated, and the shipyard agreed with respect to these three cancelled contracts to (i) return to the company approximately $36 million in aggregate installment payments, (ii) terminate the company’s obligation to make any additional payments, and (iii) apply $3.5 million of accrued interest due to the company on the returned installment amounts to offset future installment obligations on other vessels at this shipyard. Of the total $36 million in returned installments, the shipyard returned $24 million in June 2015 and the remaining $12 million in July 2015. The company recorded an impairment charge of $0.8 million in the first quarter of fiscal 2016 to write off the amounts not recoverable from the shipyard with respect to these three vessels. The company applied the $3.5 million shipyard credit in the December quarter as an offset to other payments made to the shipyard. In September 2015, the company entered into additional settlement agreements with the same shipyard to resolve the remaining nine vessels (three additional 7,145 BHP towing-supply-class vessels and six 261-foot, 4,700 deadweight tons of cargo capacity, deepwater PSVs) under construction. Under the settlement agreements, the company agreed to substantial discounts to the purchase price for each of these four vessels. The company took delivery of one towing-supply-class vessel in September of 2015, and another towing-supply-class vessel in January of 2016, and is expected to take delivery of two deepwater PSVs in fiscal 2017, if those vessels are completed and delivered in accordance with the underlying amended construction contracts, in the June quarter of 2016. Under the September 2015 settlement agreements, the company received separate options, but not obligations to acquire, each of the remaining five vessels, with option expiry dates ranging from November 2015 to October 2016. Under the terms of these options, if the company does not elect to take delivery of any of these vessels, (a) the company is entitled to receive the return of approximately $31 million in aggregate installment payments (representing installment payments made to date on these five vessels) together with interest on these installments of $3.7 million (which will be issued to the company as “shipyard credits” and applied to future installment payments on the two PSVs to be delivered) and (b) the company will be relieved of the obligation to pay the shipyard the approximately $75 million in remaining construction payments. The purchase prices for each of the five vessels that are subject to options are unchanged by the settlement. The company declined to exercise the first of these options, and in January 2016 received $12 million in refunded payments. The company has also taken the $3.7 million “shipyard credit” in the December quarter as an offset against other payments made to the shipyard. The remaining four option vessels are not included in the preceding table of vessel commitments as of December 31, 2015. Each settlement agreement (except for the agreement with respect to the towing-supply vessel delivered in September 2015) was entered into subject to the consent of the Bank of China, the issuer of the refundment guarantees on all nine vessels. The Bank of China has subsequently issued consents for all eight remaining settlement agreements. In April 2015, the company entered into negotiations with an international shipyard constructing two 275-foot, 3,800 deadweight tons of cargo capacity, deepwater PSVs to resolve issues associated with the late delivery of these vessels. In May 2015, the company settled these issues with the shipyard. Under the terms of the settlement, the company can elect to take delivery of one or both completed vessels at any time prior to June 30, 2016. That date is subject to two six month extension periods, each extension requiring the mutual consent of the company and shipyard. If the company does not elect to take delivery of one or both vessels prior to June 30, 2016 (as that date may be extended by mutual agreement), (a) the company is entitled to receive the return of $5.4 million in aggregate installment payments per vessel together with interest on these installments (which aggregates to approximately $12 million, or all but approximately $1 million of the company's carrying value of the accumulated costs per vessel through March 31, 2015) and (b) the company will be relieved of the obligation to pay to the shipyard the $21.7 million of remaining payments per vessel. The shipyard's obligation to return the $5.4 million (plus interest) per vessel if the company elects not to take delivery of one or both vessels is secured by Bank of China refundment guarantees. These two vessels are not included in the preceding table of vessel commitments as of December 31, 2015. The company has experienced 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, 2015. During the first quarter of fiscal 2016, the company recorded an impairment charge of $2.4 million (representing amounts not covered by insurance) and reclassified the remaining $5.6 million from construction in progress to other non-current assets. This vessel is not included in the preceding table of vessel commitments as of December 31, 2015. 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 generally 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 pursue successfully 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. The 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, the MNOPF will not pursue the subsidiary in connection with any amounts due or which may become due to the MNOPF. In December 2013, the administration was converted to a liquidation. That conversion allowed for an interim cash liquidation distribution to be made to the MNOPF. The conversion is not expected to have any impact on the company. The final meeting of creditors is scheduled for mid-February 2016, and the liquidation is expected to be completed in calendar 2016. 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 a new Angolan entity, which is intended to be one of the Sonatide group of companies, has been incorporated. Based on recent communications the Angolan entity is expected to be incorporated in 2016 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, additional elements of new legislation (the “forex law”) became effective that generally require oil companies that engage in exploration and production activities offshore Angola through governmental concessions 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 in currencies other than Angolan kwanzas. The forex law has resulted in substantial customer payments being made to Sonatide in Angolan kwanzas. A cumbersome payment process has burdened Tidewater’s management of its cash and liquidity, because the conversion of Angolan kwanzas into U.S. dollars and the subsequent expatriation of the funds causes payment delays, additional operating costs and, through the company’s 49% ownership of Sonatide, foreign exchange losses. The payment process exposes the company to further risk of currency devaluation prior to Sonatide’s conversion of Angolan kwanza-denominated bank deposits to U.S. dollars and potentially additional taxes. In response to the adoption of the new forex law, Tidewater and Sonangol negotiated and signed an agreement (the “consortium agreement”) that allowed 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 Angolan kwanzas), and (ii) billings for services provided offshore (that can be paid in U.S. dollars). Sonatide successfully converted select customer contracts to this split billing arrangement during the quarters ended March 31, 2015 and June 30, 2015. The consortium agreement expired in November 2015, and the parties have been discussing signing a new consortium agreement for a one year term. If the parties are unable to agree on a new consortium agreement, the parties would need to negotiate the terms of a new agreement that would continue to allow the company to receive U.S. dollar payments for services provided offshore. In addition, it is not clear if this type of contracting will be available to Sonatide over the longer term. If the company is unable to reach agreement on a new split payment arrangement, any contract entered into after the expiration of the consortium agreement may result in the receipt of 100% Angolan kwanzas, which would be subject to the challenges and risks described above. The company believes that the split payment contracts entered into with customers prior to the expiration of the consortium agreement will remain in force until their expirations. In November 2014, the National Bank of Angola issued new regulations controlling the sale of foreign currency. These regulations generally require oil companies to channel any U.S. dollar sales they choose to make through the National Bank of Angola to buy Angolan kwanzas that are required to be used to pay for goods and services provided by foreign exchange resident oilfield service companies. These foreign exchange resident oilfield services companies, in turn, generally have a need to source U.S. dollars in order to pay for goods and services provided offshore. The regulations continue to permit tripartite agreements among oil companies, commercial banks and service companies that provide for the sale of U.S. dollars by an oil company to a commercial bank in exchange for Angolan kwanzas. These same U.S. dollars are then sold onward by the commercial bank to the service company. The implementing regulations do, however, place constraints on those tripartite agreements that did not previously exist, and the period of time that the tripartite agreements will be allowed remains uncertain. If tripartite agreements or similar arrangements are not available to service companies in Angola that have a need for U.S. dollars, then such service companies will be required to source U.S. dollars exclusively through the National Bank of Angola. Sonatide has had some success to date in negotiating tripartite agreements and it continues to work with customers, commercial banks and the National Bank of Angola in regards to utilizing these arrangements. For the fiscal year ended March 31, 2015, the company collected (primarily through Sonatide) approximately $338 million from its Angola operations, which is slightly less than the approximately $351 million of revenue recognized for the same period. Of the $338 million collected approximately $159 million represented U.S. dollars received by Sonatide on behalf of the company or U.S. dollars directly received by the company from customers. The balance of $179 million that was collected in fiscal 2015 resulted from Sonatide’s converting Angolan kwanzas into U.S. dollars and subsequently expatriating the U.S. dollars to Tidewater. Additionally, the company received an approximate $10 million dividend payment from the Sonatide joint venture during the third quarter of fiscal 2015. For the nine months ended December 31, 2015, the company collected (primarily through Sonatide) approximately $182 million from its Angolan operations, which exceeds by $10 million the approximately $172 million of revenue recognized for the same period. Of the $182 million collected, approximately $93 million were U.S. dollars received by Sonatide on behalf of the company or U.S. dollars directly received by the company from customers. The balance of $89 million collected resulted from Sonatide’s converting Angolan kwanza into U.S. dollars and subsequently expatriating the dollars to Tidewater. Additionally, the company received an approximate $15 million dividend payment from the Sonatide joint venture during the third quarter of fiscal 2016 The company also reduced the due from affiliate and due to affiliate balances by approximately $65 million during the nine months ended December 31, 2015 through netting transactions based on agreement with the joint venture. The company believes that the process for converting Angolan kwanzas continues to function reasonably well, but the tight U.S. dollar liquidity situation continues in Angola. Sonatide continues to press its commercial banks with which it has relationships to increase the amount of U.S. dollars that are made available to Sonatide. As of December 31, 2015, the company had approximately $336 million in amounts due from Sonatide, with approximately half of the balance reflecting invoiced but unpaid vessel revenue related to services performed by the company through the Sonatide joint venture. Remaining amounts due to the company from Sonatide are generally supported by cash (primarily denominated in Angolan kwanzas) held by Sonatide that is pending conversion into U.S. dollars and the subsequent expatriation of such funds. For the nine months ended December 31, 2015, Tidewater’s Angolan operations generated vessel revenues of approximately $172 million, or 22%, of its consolidated vessel revenue, from an average of approximately 66 Tidewater-owned vessels that are marketed through the Sonatide joint venture (eight of which were stacked on average during the nine months ended December 31, 2015), and, for the nine months ended December 31, 2014, generated vessel revenues of approximately $271 million, or 23%, of consolidated vessel revenue, from an average of approximately 83 Tidewater-owned vessels (four of which were stacked on average during the nine months ended December 31, 2014). Sonatide owns eight vessels (three of which are currently stacked) and certain other assets, in addition to earning commission income from Tidewater-owned vessels marketed through the Sonatide joint venture (owned 49% by Tidewater). In addition, as of December 31, 2015, Sonatide maintained the equivalent of approximately $95 million of primarily Angolan kwanza-denominated deposits in Angolan banks, largely related to customer receipts that had not yet been converted to U.S. dollars, expatriated and then remitted to the company, and approximately $1 million of U.S. dollar-denominated deposits in banks outside of Angola. As of December 31, 2015 and March 31, 2015, 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 $43 million and $67 million, respectively. Due from affiliate at December 31, 2015 and March 31, 2015 of approximately $336 million and $420 million, respectively, represents cash received by Sonatide from customers and due to the company, and amounts due from customers that are expected to be remitted to the company through Sonatide. The collection of the amounts due to Sonatide from customers, and the subsequent conversion and expatriation process are subject to those risks and considerations set forth above. Due to affiliate at December 31, 2015 and March 31, 2015 of approximately $170 million and $186 million, respectively, represents amounts due to Sonatide for commissions payable (approximately $27 million and $66 million, respectively) and other costs paid by Sonatide on behalf of the company. A new presidential decree regulating maritime transportation activities was enacted in Angola in 2014. Following recent discussions with port state authorities and local counsel, the company remains uncertain whether the authorities will interpret the decree to require one hundred percent Angolan ownership of local vessel operators such as Sonatide. This interpretation may result in the need to work with Sonangol to further restructure our Sonatide joint venture and our operations in Angola. The company is seeking further clarification of the new decree. The company is exploring potential alternative structures in order to comply. The Angolan government enacted a new statute, which came into effect on June 30, 2015, for a new levy that could impose an additional 10% surcharge on certain foreign exchange transactions. The specific details of the levy have not yet been disclosed and it is not clear if this new statute will apply to Sonatide’s scope of operations. The additional surcharge has not been imposed on any Sonatide transactions to date. The company has undertaken efforts to mitigate the effects of the levy, in the event the levy does apply to Sonatide’s operations, including successfully negotiating rate adjustments and termination rights with some of its customers. The company will be unlikely to completely mitigate the effects of the levy, resulting in increased costs and lower margins, if the levy is interpreted to apply to Sonatide’s operations. Management continues to explore ways to profitably participate in the Angolan market while looking for opportunities to reduce the overall level of exposure 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 there is adequate demand for the company’s vessels. During the year ended March 31, 2015, 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 13 vessels transferred out of Angola. Redeployment of vessels to and from Angola during the nine months ended December 31, 2015 has resulted in a net 18 vessels transferred out of Angola. As the company considers the redeployment of additional vessels from Angola to other markets, there would likely be temporary negative financial effects associated with such redeployment, 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 Tidewater’s results of operations and cash flows for the periods when such costs would be incurred. The recent decline in crude oil and natural gas prices, the reduction in spending expectations among E&P companies, the number of new-build vessels which are expected to deliver within the next two years and the resulting potential overcapacity in the worldwide offshore support vessel market may exacerbate such negative financial effects, particularly if a large re-deployment were undertaken by the company in the near- to intermediate-term. 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 million Brazilian reais (approximately $39 million as of December 31, 2015). 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 has already obtained success in the majority of cases. This has reduced the initial fines from 155 million reais down to 33 million reais (approximately $8.3 million as of December 31, 2015). The company believes that it has a high probability of success with respect to overturning the remaining fines. The remaining fines are still subject to a secondary administrative appeals board hearing, but the company believes that its previous success will be helpful in that upcoming hearing. The company believes that the ultimate resolution of this matter will not have a material effect on the consolidated financial statements. Nigeria Marketing Agent Litigation In October 2012, Tidewater Inc. notified its Nigerian marketing agent, Phoenix Tide Offshore Nigeria Limited, that it was discontinuing its relationship with the marketing agent and two of its principals (H.H. The Otunba Ayora Dr. Bola Kuforiji-Olubi, OON and Olutokunbo Afolabi Kuforiji). The company entered into a new strategic relationship with a different Nigerian marketing agent 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. On March 1, 2013, Tidewater filed suit in the London Commercial Court against Phoenix Tide Offshore Nigeria Limited, its prior 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 $16 million (including U.S. dollar denominated invoices and Naira denominated invoices which have been adjusted for the devaluation of the Naira relative to the U.S. dollar) due to Tidewater 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. On or about December 30, 2014, the company received notice that the Nigerian marketing agent had filed an action in the Nigerian Federal High court seeking to prevent the continuation of the proceedings initiated by Tidewater in the London Commercial Court. The company intends to vigorously defend that action. 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. Repairs to U.S. Flagged Vessels Operating Abroad Near the end of fiscal 2015 the company became aware that it may have had compliance deficiencies in documenting and declaring upon re-entry to U.S. waters all repairs done on its U.S. flagged vessels while they were working outside the United States. When a U.S. flagged vessel operates abroad, any repairs made abroad must be declared to U.S. Customs. Duties must be paid for certain of those repairs upon return to U.S. waters. During our examination of our most recent filings with U.S. Customs, we determined that it was necessary to file amended forms with U.S. Customs. We continue to evaluate the return of other U.S. flagged vessels to the United States to determine whether it is necessary to adjust our responses in any of those instances. To the extent that further evaluation requires us to file amended entries, we do not yet know the magnitude of any duties, fines or interest associated with amending the entries for these vessels. We are committed to bolstering our processes, procedures and training to ensure that we correctly identify all repairs made abroad if and when U.S. flagged vessels return to the United States in the future. 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 Arbitral Award for the Taking of the Company’s Venezuelan Operations On March 13, 2015, the three member tribunal constituted under the rules of the World Bank’s International Centre for the Settlement of Investment Disputes (“ICSID”) awarded subsidiaries of the company compensation, including accrued interest and costs, for the Bolivarian Republic of Venezuela’s (“Venezuela”) expropriation of the investments of those subsidiaries in Venezuela. The award, issued in accordance with the provisions of the Venezuela-Barbados Bilateral Investment Treaty (“BIT”), represented $46.4 million for the fair market value of the company’s principal Venezuelan operating subsidiary, plus interest from May 8, 2009 to the date of payment of that amount accruing at an annual rate of 4.5% compounded quarterly ($16.1 million as of Dec

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
	Dec. 31, 2015
Fair Value Disclosures [Abstract]
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 the supplemental plan. The following table provides the fair value hierarchy for the supplemental plan assets measured at fair value as of December 31, 2015: Significant Significant Quoted prices in observable unobservable active markets inputs inputs (In thousands) Total (Level 1) (Level 2) (Level 3) Equity securities: Common stock $ 3,497 3,497 — — Preferred stock — — — — Foreign stock 258 258 — — American depository receipts 1,529 1,529 — — Preferred American depository receipts 15 15 — — Real estate investment trusts 74 74 — — Debt securities: Government debt securities 1,818 1,028 790 — Open ended mutual funds 1,770 1,770 — — Cash and cash equivalents 306 (34 ) 340 — Total $ 9,267 8,137 1,130 — Other pending transactions (195 ) (195 ) — — Total fair value of plan assets $ 9,072 7,942 1,130 — The following table provides the fair value hierarchy for the plan assets measured at fair value as of March 31, 2015: Significant Significant Quoted prices in observable unobservable active markets inputs inputs (In thousands) Total (Level 1) (Level 2) (Level 3) Equity securities: Common stock $ 3,859 3,859 — — Preferred stock — — — — Foreign stock 201 201 — — American depository receipts 1,685 1,685 — — Preferred American depository receipts 15 15 — — Real estate investment trusts 59 59 — — Debt securities: Government debt securities 1,926 1,377 549 — Open ended mutual funds 1,916 1,916 — — Cash and cash equivalents 377 72 305 — Total $ 10,038 9,184 854 — Other pending transactions (123 ) (123 ) — — Total fair value of plan assets $ 9,915 9,061 854 — 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 no outstanding spot contracts at December 31, 2015. The company had two foreign exchange spot contracts outstanding at March 31, 2015, which had a notional value of $2.3 million and settled by April 1, 2015. Forward Derivatives . Forward derivative financial instruments are usually 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. At December 31, 2015, the company had 14 Norwegian kroner (NOK) forward contracts outstanding, which are generally intended to hedge the company’s foreign exchange exposure relating to its NOK denominated notes payable as disclosed in Note (5). The forward contracts have expiration dates between January 2016 and November 2016. The combined change in fair value of the forward contracts was $1.8 million, all of which was recorded as a foreign exchange loss during the nine months ended December 31, 2015, because the forward contracts did not qualify as hedge instruments. All changes in fair value of the forward contracts were recorded in earnings. The company did not have any forward contracts outstanding at March 31, 2015. The following table provides the fair value hierarchy for the company’s other financial instruments measured as of December 31, 2015: Significant Significant Quoted prices in observable unobservable active markets inputs inputs (In thousands) Total (Level 1) (Level 2) (Level 3) Money market cash equivalents $ 1,507 1,507 — — Total fair value of assets $ 1,507 1,507 — — The following table provides the fair value hierarchy for the company’s other financial instruments measured as of March 31, 2015: Significant Significant Quoted prices in observable unobservable active markets inputs inputs (In thousands) Total (Level 1) (Level 2) (Level 3) Money market cash equivalents $ 3,007 3,007 — — Total fair value of assets $ 3,007 3,007 — — For disclosures related to assets and liabilities measured at fair value on a nonrecurring basis refer to Note (15).

OTHER CURRENT ASSETS, OTHER ASS

OTHER CURRENT ASSETS, OTHER ASSETS, ACCRUED EXPENSES, OTHER CURRENT LIABILITIES AND OTHER LIABILITIES AND DEFERRED CREDITS	9 Months Ended
	Dec. 31, 2015
Other Current Assets Other Assets Accrued Expenses Other Current Liabilities And Other Non Current Liabilities And Deferred Credits [Abstract]
OTHER CURRENT ASSETS, OTHER ASSETS, ACCRUED EXPENSES, OTHER CURRENT LIABILITIES AND OTHER LIABILITIES AND DEFERRED CREDITS	(9) OTHER CURRENT ASSETS, OTHER ASSETS, ACCRUED EXPENSES, OTHER CURRENT LIABILITIES AND OTHER LIABILITIES AND DEFERRED CREDITS A summary of other current assets at December 31, 2015 and March 31, 2015 is as follows: December 31, March 31, (In thousands) 2015 2015 Deposits on vessel construction options (A) $ 44,748 — Deposits - general 7,017 7,381 Prepaid expenses 9,054 10,400 $ 60,819 17,781 (A) Refer to Note (7) for additional discussion regarding the vessels under construction with option agreements. A summary of other assets at December 31, 2015 and March 31, 2015 is as follows: December 31, March 31, (In thousands) 2015 2015 Recoverable insurance losses $ 9,682 10,468 Deferred income tax assets 31,136 19,004 Deferred finance charges – revolver 7,125 7,396 Savings plans and supplemental plan 14,984 23,208 Other 19,423 15,120 $ 82,350 75,196 A summary of accrued expenses at December 31, 2015 and March 31, 2015 is as follows: December 31, March 31, (In thousands) 2015 2015 Payroll and related payables $ 22,405 32,041 Commissions payable (A) 7,197 8,282 Accrued vessel expenses 53,414 79,549 Accrued interest expense 4,791 14,514 Other accrued expenses 8,797 11,869 $ 96,604 146,255 (B) Excludes $27.3 million and $46.3 million of commissions due to Sonatide at December 31, 2015 and March 31, 2015, respectively. These amounts are included in amounts due to affiliate. A summary of other current liabilities at December 31, 2015 and March 31, 2015 is as follows: December 31, March 31, (In thousands) 2015 2015 Taxes payable $ 41,480 56,620 Deferred gain on vessel sales - current 24,403 25,057 Other 370 784 $ 66,253 82,461 A summary of other liabilities and deferred credits at December 31, 2015 and March 31, 2015 is as follows: December 31, March 31, (In thousands) 2015 2015 Postretirement benefits liability $ 20,651 23,018 Pension liabilities 42,773 41,279 Deferred gain on vessel sales 118,420 136,238 Other 28,395 34,573 $ 210,239 235,108

ACCOUNTING PRONOUNCEMENTS

ACCOUNTING PRONOUNCEMENTS	9 Months Ended
	Dec. 31, 2015
Accounting Changes And Error Corrections [Abstract]
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. In April 2015, the FASB issued ASU 2015-03, Interest-Imputation of Interest: Simplifying the Presentation of Debt Issue Costs In February 2015, the FASB issued ASU 2015-02, Consolidation – Amendments to the Consolidation Analysis,

SEGMENT AND GEOGRAPHIC DISTRIBU

SEGMENT AND GEOGRAPHIC DISTRIBUTION OF OPERATIONS	9 Months Ended
	Dec. 31, 2015
Segment Reporting [Abstract]
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 and nine-month periods ended December 31, 2015 and 2014. Vessel revenues and operating costs relate to vessels owned and operated by the company while other operating revenues relate to the activities of the remotely operated vehicles (ROVs), brokered vessels and other miscellaneous marine-related businesses. Quarter Ended Nine Months Ended December 31, December 31, (In thousands) 2015 2014 2015 2014 Revenues: Vessel revenues: Americas $ 75,963 134,554 279,345 388,550 Asia/Pacific 19,144 35,046 79,254 121,284 Middle East/North Africa 40,184 55,925 132,786 160,301 Sub-Saharan Africa/Europe 77,617 152,601 283,967 480,453 212,908 378,126 775,352 1,150,588 Other operating revenues 5,283 9,428 19,536 20,167 $ 218,191 387,554 794,888 1,170,755 Vessel operating profit (loss): Americas $ 9,289 33,784 41,940 100,770 Asia/Pacific (3,796 ) 2,621 4,122 9,064 Middle East/North Africa 5,849 12,408 21,524 31,568 Sub-Saharan Africa/Europe (2,079 ) 34,120 2,459 113,168 9,263 82,933 70,045 254,570 Other operating loss (626 ) (1,032 ) (3,120 ) (5,548 ) 8,637 81,901 66,925 249,022 Corporate general and administrative expenses (7,150 ) (9,411 ) (25,096 ) (30,686 ) Corporate depreciation (1,629 ) (834 ) (4,772 ) (2,486 ) Corporate expenses (8,779 ) (10,245 ) (29,868 ) (33,172 ) Gain on asset dispositions, net 5,883 4,699 19,345 13,092 Asset impairments (A) (15,141 ) (6,236 ) (61,771 ) (8,096 ) Goodwill impairment — (283,699 ) — (283,699 ) Restructuring charge (B) — — (7,586 ) — Operating loss $ (9,400 ) (213,580 ) (12,955 ) (62,853 ) Foreign exchange gain (loss) (469 ) 4,334 (3,758 ) 8,453 Equity in net earnings (losses) of unconsolidated companies (1,710 ) — (7,070 ) 9,104 Interest income and other, net 609 434 1,754 1,555 Interest and other debt costs, net (13,312 ) (12,239 ) (39,741 ) (37,927 ) Loss before income taxes $ (24,282 ) (221,051 ) (61,770 ) (81,668 ) Depreciation and amortization: Americas $ 12,029 11,825 36,311 35,623 Asia/Pacific 5,803 4,731 16,503 13,538 Middle East/North Africa 6,992 7,016 21,103 20,383 Sub-Saharan Africa/Europe 17,600 18,067 54,084 55,494 42,424 41,639 128,001 125,038 Other 1,369 858 4,285 2,626 Corporate 1,629 834 4,772 2,486 $ 45,422 43,331 137,058 130,150 Additions to properties and equipment: Americas $ 2,064 32,421 44,118 64,057 Asia/Pacific 360 44,983 2,069 68,193 Middle East/North Africa 127 424 776 1,659 Sub-Saharan Africa/Europe 460 823 1,827 14,736 3,011 78,651 48,790 148,645 Other 26 10,206 113 18,931 Corporate (C) 8,872 14,198 103,467 67,678 $ 11,909 103,055 152,370 235,254 (A) Refer to Note (15) for additional information regarding asset impairment charges. (B) Refer to Note (14) for additional information regarding the restructuring charge. (C) 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 December 31, 2015 and March 31, 2015: December 31, March 31, (In thousands) 2015 2015 Total assets: Americas $ 1,132,305 1,016,133 Asia/Pacific 515,380 506,265 Middle East/North Africa 591,657 666,983 Sub-Saharan Africa/Europe 1,871,941 2,064,010 4,111,283 4,253,391 Other 45,789 49,554 4,157,072 4,302,945 Investments in, at equity, and advances to unconsolidated companies 45,663 65,844 4,202,735 4,368,789 Corporate (A) 277,780 387,373 $ 4,480,515 4,756,162 (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 December 31, 2015 and March 31, 2015, $150.1 million and $235.2 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 and nine-month periods ended December 31, 2015 and 2014: Quarter Ended Nine Months Ended Revenue by vessel class December 31, December 31, (In thousands) 2015 % 2014 % 2015 % 2014 % Americas fleet: Deepwater $ 49,792 23 % 94,298 25 % 191,720 25 % 267,983 23 % Towing-supply 22,254 11 % 33,607 9 % 75,890 10 % 97,511 9 % Other 3,917 2 % 6,649 2 % 11,735 1 % 23,056 2 % Total $ 75,963 36 % 134,554 36 % 279,345 36 % 388,550 34 % Asia/Pacific fleet: Deepwater $ 13,267 6 % 20,575 5 % 56,535 7 % 72,492 6 % Towing-supply 5,877 3 % 13,487 4 % 22,719 3 % 45,862 4 % Other — — 984 <1% — — 2,930 <1% Total $ 19,144 9 % 35,046 9 % 79,254 10 % 121,284 10 % Middle East/North Africa fleet: Deepwater $ 17,690 9 % 25,615 7 % 58,845 8 % 64,336 6 % Towing-supply 21,795 10 % 29,441 8 % 71,898 9 % 93,435 8 % Other 699 <1% 869 <1% 2,043 <1% 2,530 <1% Total $ 40,184 19 % 55,925 15 % 132,786 17 % 160,301 14 % Sub-Saharan Africa/Europe fleet: Deepwater $ 30,361 14 % 81,129 21 % 124,282 16 % 262,013 23 % Towing-supply 35,186 16 % 52,532 14 % 118,490 15 % 162,585 14 % Other 12,070 6 % 18,940 5 % 41,195 6 % 55,855 5 % Total $ 77,617 36 % 152,601 40 % 283,967 37 % 480,453 42 % Worldwide fleet: Deepwater $ 111,110 52 % 221,617 58 % 431,382 56 % 666,824 58 % Towing-supply 85,112 40 % 129,067 35 % 288,997 37 % 399,393 35 % Other 16,686 8 % 27,442 7 % 54,973 7 % 84,371 7 % Total $ 212,908 100 % 378,126 100 % 775,352 100 % 1,150,588 100 %

GOODWILL

GOODWILL	9 Months Ended
	Dec. 31, 2015
Goodwill And Intangible Assets Disclosure [Abstract]
GOODWILL	(12) GOODWILL The company historically performed its annual goodwill impairment test at the reporting unit level using carrying amounts as of December 31 or more frequently if events and circumstances indicated that goodwill might be impaired. During the quarter ended December, 31, 2014 the company performed its annual goodwill impairment assessment and determined that the rapid and significant decline in crude oil and natural gas prices (which occurred and accelerated throughout the latter part of the company’s third quarter of fiscal 2015), and the expected short to intermediate term effect that the downturn might have on levels of exploration and production activity would likely have a negative effect on average day rates and utilization levels of the company’s vessels. Expected future cash flow analyses using the projected average day rates and utilization levels in this new commodity pricing environment were included in the company’s valuation models and indicated that the fair values of the Americas and Sub-Saharan Africa/Europe reporting units were less than their respective carrying values. A goodwill impairment charge of $283.7 million, to write-off the company’s remaining goodwill, was recorded during the quarter ended December 31, 2014. Goodwill by reportable segment at December 31, 2015 and 2014 is as follows: March 31, December (In thousands) 2015 Goodwill acquired Impairments 2015 Americas $ — — — — Sub-Saharan Africa/Europe — — — — Total carrying amount (A) $ — — — — March 31, December (In thousands) 2014 Goodwill acquired Impairments 2014 Americas $ 114,237 — 114,237 — Sub-Saharan Africa/Europe 169,462 — 169,462 — Total carrying amount (B) $ 283,699 — 283,699 — (A) The total carrying amount of goodwill at March 31, 2015 and December 31, 2015 is net of accumulated impairment charges of $370.9 million. (B) The total carrying amount of goodwill at March 31, 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.

SALE_LEASEBACK ARRANGEMENTS

SALE/LEASEBACK ARRANGEMENTS	9 Months Ended
	Dec. 31, 2015
Leases [Abstract]
SALE/LEASEBACK ARRANGEMENTS	(13) SALE/LEASEBACK ARRANGEMENTS As of December 31, 2015, the future minimum lease payments for vessels under operating lease terms are as follows: Fiscal 2015 Fiscal 2014 Fiscal year ending (In thousands) Sale/Leaseback Sale/Leaseback Total Remaining three months of 2016 $ 2,371 5,220 7,591 2017 9,485 20,879 30,364 2018 9,604 23,485 33,089 2019 10,234 24,800 35,034 2020 11,497 25,519 37,016 Thereafter 30,866 39,744 70,610 Total future lease payments $ 74,057 139,647 213,704 Included in gain on asset dispositions, net for the quarter and nine months ended December 31, 2015, respectively, are $5.8 million and $17.5 million of deferred gains from sale leaseback transactions. During the quarter and nine months ended December 31, 2014, the company recognized $4.8 million and $17.5 million of deferred gains from sale leaseback transactions which are also included in gain on asset dispositions, net.

RESTRUCTURING CHARGE

RESTRUCTURING CHARGE	9 Months Ended
	Dec. 31, 2015
Restructuring And Related Activities [Abstract]
RESTRUCTURING CHARGE	(14) RESTRUCTURING CHARGE In the second quarter of fiscal 2016 the company’s management continued to restructure its operations worldwide to reduce operating and general and administrative costs as a result of the continuing decline in oil prices and the resulting softening demand for the company’s vessels, and several contract cancellations (particularly in regards to the company’s Brazil operations). This plan consists of select employee terminations and early retirements that are intended to eliminate redundant or unneeded positions, reduce costs, and better align our workforce with anticipated lower activity levels in the geographic areas in which the company presently operates. In connection with these efforts, the company recognized a $7.6 million restructuring charge during the quarter ended September 30, 2015. Although no payments were made related to this charge as of September 30, 2015, the company paid during the quarter ended December 31, 2015 Measures taken during the second quarter include the transfer and stacking of vessels from the company’s Australian and Brazilian operations. Such vessel stackings resulted in the termination of mariners who were entitled to severance payments under the terms of the enterprise bargaining agreements and in accordance with Australian and Brazilian labor laws. Restructuring charges incurred by segment and cost type for the quarter and nine month periods ended December 31, 2015: Quarter Ended Nine Months Ended (In thousands) December 31, 2015 December 31, 2015 Americas: Crew costs $ — 3,410 Other vessel costs — 203 Asia/Pacific: Crew costs — 3,973 Total restructuring charges $ — 7,586

ASSET IMPAIRMENTS

ASSET IMPAIRMENTS	9 Months Ended
	Dec. 31, 2015
Asset Impairment Charges [Abstract]
ASSET IMPAIRMENTS	(15) ASSET IMPAIRMENTS 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. With respect to vessels that are expected to remain in active service, we group together for impairment testing purposes vessels with similar operating and marketing characteristics. We also subdivide our groupings of assets with similar operating and marketing characteristics between our 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 estimates the fair value of each asset group and compares such estimated fair value, considered Level 3, as defined by ASC 820, Fair Value Measurements and Disclosures, to the carrying value of each asset group in order to determine if impairment exists. If an asset group fails the undiscounted cash flow test, management derives the fair value of the asset group through making estimates of fair value for each vessel in the group, considering items such as age, vessel class supply and demand, and recent sales of similar vessels among other factors and for more significant vessel carrying values we may obtain third-party appraisals for use by management in determining a vessel’s fair value. If impairment exists, the carrying value of the asset group is reduced to its estimated fair value. The primary estimates and assumptions used in reviewing active vessel groups for impairment and estimating undiscounted cash flows include utilization rates, average dayrates, and average daily operating expenses. These estimates are made based on recent actual trends in utilization, dayrates and operating costs and reflect management’s best estimate of expected market conditions during the period of future cash flows. These assumptions and estimates have changed considerably as market conditions have changed, and they are reasonably likely to continue to change as market conditions change in the future. Although the company believes its assumptions and estimates are reasonable, deviations from the assumptions and estimates could produce materially different results. Management estimates may vary considerably from actual outcomes due to future adverse market conditions or poor operating results that could result in the inability to recover the current carrying value of an asset group, thereby possibly requiring an impairment charge in the future. As the company’s fleet continues to age, management closely monitors the estimates and assumptions used in the impairment analysis in order to properly identify evolving trends and changes in market conditions that could impact the results of the impairment evaluation. 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 not expected to return to active service every six months or whenever changes in circumstances indicate that the carrying amount of a vessel may not be recoverable. Management estimates the fair value of each vessel not expected to return to active service (considered Level 3, as defined by ASC 820, Fair Value Measurements and Disclosures) 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, among others. For more significant vessel carrying values, we obtain an estimate of the fair value of the stacked vessel from third-party appraisers or brokers for use in our determination of fair value estimates. The company records an impairment charge when the carrying value of a stacked vessel not expected to return to active service 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. Asset impairments recognized for the quarter and nine months ended December 31, 2015 increased $8.9 million and $53.7 million, respectively, from the same periods of fiscal 2015, primarily due to a decline in offshore support vessel values as a result of the decrease in the volume of oil and gas exploration, field development and production spending by our customers. During the third quarter of fiscal 2016 the company recognized impairments to the stacked vessel fleet of $15.2 million. During the first nine months of fiscal 2016 the company recognized impairments to stacked vessels fleet of $55.5 million, a $3 million impairment to active vessels, a $2.4 million impairment related to a vessel under construction that is currently the subject of an arbitration proceeding in Brazil (so as to reduce the carrying value of this vessel to the amount that is covered by third party credit support) and, a $0.8 million impairment related to the cancellation of vessel construction contracts. The below table summarizes the combined fair value of the assets that incurred impairments during the quarters and nine-month periods ended December 31, 2015 and 2014, along with the amount of impairment. Quarter Ended Nine Months Ended December 31, December 31, (In thousands) 2015 2014 2015 2014 Amount of impairment incurred $ 15,141 6,236 61,771 8,096 Combined fair value of assets incurring impairment 90,010 3,914 244,310 4,634

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Dec. 31, 2015
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	16) SUBSEQUENT EVENTS In January 2016, the exchange rate of the Angolan kwanza versus the U.S. dollar was devalued from a ratio of approximately 135 to 1 to a ratio of approximately 158 to 1, or approximately 17%. Based on Angolan kwanza denominated balance sheet accounts at December 31, 2015, and an Angolan kwanza to U.S. dollar exchange ratio of 158 to 1, Sonatide will recognize a further exchange loss estimated to be approximately $17 million. The company will recognize 49% of the total foreign exchange loss, or approximately $8 million through equity in net earnings (losses) of unconsolidated companies.

STOCKHOLDERS' EQUITY (Tables)

STOCKHOLDERS' EQUITY (Tables)	9 Months Ended
	Dec. 31, 2015
Equity [Abstract]
Schedule of Common Stock Repurchased and Average Price Paid Per Share	The aggregate dollar outlay for common stock repurchased, along with the number of shares repurchased, and average price paid per share, for the quarters and nine-month periods ended December 31 is as follows: Quarter Ended Nine Months Ended December 31, December 31, (In thousands, except share and per share data) 2015 2014 2015 2014 Aggregate dollar outlay for common stock repurchased $ — 99,999 — 99,999 Shares of common stock repurchased — 2,841,976 — 2,841,976 Average price paid per common share $ — 35.19 — 35.19
Schedule of Dividends Declared	The Board of Directors declared the following dividends for the quarters and nine-month periods ended December 31: Quarter Ended Nine Months Ended December 31, December 31, (In thousands, except dividend per share) 2015 2014 2015 2014 Dividends declared $ 11,811 12,029 34,965 37,229 Dividend per share 0.25 0.25 0.75 0.75
Changes in Accumulated Other Comprehensive Income (Loss) by Component, Net of Tax	The changes in accumulated other comprehensive income (loss) by component, net of tax for the quarters and nine month periods ended December 31, 2015 and 2014 are as follows: For the quarter ended December 31, 2015 For the nine months ended December 31, 2015 Balance Gains/(losses) Reclasses Net Remaining Balance Gains/(losses) Reclasses Net Remaining at recognized from period balance at recognized from period balance (in thousands) 9/30/15 in OCI net income OCI 12/31/15 3/31/15 in OCI net income OCI 12/31/15 Available for sale securities (444 ) 235 (24 ) 211 (233 ) 235 (569 ) 101 (468 ) (233 ) Currency translation adjustment (9,811 ) — — — (9,811 ) (9,811 ) — — — (9,811 ) Pension/Post- retirement benefits (9,059 ) — — — (9,059 ) (9,129 ) 70 — 70 (9,059 ) Interest rate swaps (1,314 ) — 180 180 (1,134 ) (1,673 ) — 539 539 (1,134 ) Total (20,628 ) 235 156 391 (20,237 ) (20,378 ) (499 ) 640 141 (20,237 ) For the quarter ended December 31, 2014 For the nine months ended December 31, 2014 Balance Gains/(losses) Reclasses Net Remaining Balance Gains/(losses) Reclasses Net Remaining at recognized from period balance at recognized from period balance (in thousands) 9/30/14 in OCI net income OCI 12/31/14 3/31/14 in OCI net income OCI 12/31/14 Available for sale securities 225 (73 ) 19 (54 ) 171 92 (76 ) 155 79 171 Currency translation adjustment (9,811 ) — — — (9,811 ) (9,811 ) — — — (9,811 ) Pension/Post- retirement benefits 15 — — — 15 (116 ) 131 — 131 15 Interest rate swaps (2,157 ) — 116 116 (2,041 ) (2,390 ) — 349 349 (2,041 ) Total (11,728 ) (73 ) 135 62 (11,666 ) (12,225 ) 55 504 559 (11,666 )
Reclassifications from Accumulated Other Comprehensive Income (Loss) to Condensed Consolidated Statement of Income	The following table summarizes the reclassifications from accumulated other comprehensive income (loss) to the condensed consolidated statement of income for the quarters and nine month periods ended December 31, 2015 and 2014: Quarter Ended Nine Months Ended December 31, December 31 Affected line item in the (In thousands) 2015 2014 2015 2014 consolidated statements of income Realized gains on available for sale securities $ (37 ) 29 155 238 Interest income and other, net Amortization of interest rate swap 277 178 829 537 Interest and other debt costs Total pre-tax amounts 240 207 984 775 Tax effect 84 72 344 271 Total gains for the period, net of tax $ 156 135 640 504

INCOME TAXES (Tables)

INCOME TAXES (Tables)	9 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Schedule of Uncertain Tax Positions and Income Tax Payable	The company’s balance sheet at December 31, 2015 reflects the following in accordance with Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) 740, Income Taxes December 31, (In thousands) 2015 Tax liabilities for uncertain tax positions $ 14,591 Income tax payable 27,581
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 December 31, 2015, are as follows: December 31, (In thousands) 2015 Unrecognized tax benefit related to state tax issues $ 11,732 Interest receivable on unrecognized tax benefit related to state tax issues 38

EMPLOYEE BENEFIT PLANS (Tables)

EMPLOYEE BENEFIT PLANS (Tables)	9 Months Ended
	Dec. 31, 2015
Compensation And Retirement Disclosure [Abstract]
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 December 31, 2015 and March 31, 2015: December 31, March 31, (In thousands) 2015 2015 Investments held in Rabbi Trust $ 9,072 9,915 Unrealized gains (losses) in fair value of trust assets 233 235 Obligations under the supplemental plan 27,143 25,510
Schedule of Net Periodic Benefit Cost	The net periodic benefit cost for the company’s U.S. defined benefit pension plan and 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 Nine Months Ended December 31, December 31, (In thousands) 2015 2014 2015 2014 Pension Benefits: Service cost $ 234 206 702 618 Interest cost 935 968 2,805 2,904 Expected return on plan assets (530 ) (685 ) (1,590 ) (2,055 ) Amortization of prior service cost 9 12 27 36 Recognized actuarial loss 567 247 1,701 741 Net periodic benefit cost $ 1,215 748 3,645 2,244 Other Benefits: Service cost $ 41 68 191 204 Interest cost 103 226 524 678 Amortization of prior service cost (899 ) (508 ) (1,920 ) (1,524 ) Recognized actuarial benefit (281 ) (325 ) (770 ) (975 ) Net periodic benefit cost $ (1,036 ) (539 ) (1,975 ) (1,617 )

INDEBTEDNESS (Tables)

INDEBTEDNESS (Tables)	9 Months Ended
	Dec. 31, 2015
Summary of Debt Outstanding	The following is a summary of debt outstanding at December 31, 2015 and March 31, 2015: December 31, March 31, (In thousands, except weighted average data) 2015 2015 Credit facility: Term loan agreement (A) $ 300,000 300,000 Revolving line of credit (A) (B) — 20,000 September 2013 senior unsecured notes: Aggregate debt outstanding $ 500,000 500,000 Weighted average remaining life in years 7.6 8.4 Weighted average coupon rate on notes outstanding 4.86 % 4.86 % Fair value of debt outstanding (Level 2) $ 425,950 516,879 August 2011 senior unsecured notes: Aggregate debt outstanding $ 165,000 165,000 Weighted average remaining life in years 4.8 5.6 Weighted average coupon rate on notes outstanding 4.42 % 4.42 % Fair value of debt outstanding (Level 2) $ 147,081 167,910 September 2010 senior unsecured notes (C): Aggregate debt outstanding $ 382,500 425,000 Weighted average remaining life in years 4.3 4.6 Weighted average coupon rate on notes outstanding 4.35 % 4.25 % Fair value of debt outstanding (Level 2) $ 344,634 431,296 July 2003 senior unsecured notes (D): Aggregate debt outstanding $ — 35,000 Weighted average remaining life in years — 0.3 Weighted average coupon rate on notes outstanding — 4.61 % Fair value of debt outstanding (Level 2) $ — 35,197 May 2015 notes (E) (F): Amount outstanding $ 30,033 — Fair value of debt outstanding (Level 2) 30,047 — March 2015 notes (F): Amount outstanding $ 28,259 29,488 Fair value of debt outstanding (Level 2) 28,265 29,501 (A) Fair values approximate carrying values because the borrowings bear interest at variable rates. (B) $600 million and $580 million was available under the revolver at December 31, 2015 and March 31, 2015, respectively. (C) Principal repayments of $42.5 million were paid during the quarter ended December 31, 2015. (D) Remaining $35 million of borrowings fully paid in July 2015. (E) In May 2015, a wholly owned subsidiary of the company entered into a $31.3 million, U.S. dollar denominated, 12 year borrowing agreement which matures in April 2027 and is secured by a guarantee by Tidewater Inc. The loan requires semi-annual principal payments of $1.3 million (plus accrued interest) and bears interest at a fixed rate of 2.92% plus a spread based on Tidewater Inc.’s consolidated funded indebtedness to total capitalization ratio (currently equal to 1.30% for a total rate of 4.22%). (F) Notes require semi-annual principal payments.
Debt Costs	The following is a summary of the Norwegian Kroner (NOK) denominated borrowings outstanding at December 31, 2015 and March 31, 2015, and their U.S. dollar equivalents: December 31, March 31, (In thousands) 2015 2015 3.81% January 2014 notes (A): NOK denominated 262,500 275,000 U.S. dollar equivalent $ 29,606 34,234 Fair value in U.S. dollar equivalent (Level 2) 29,612 34,226 5.38% May 2012 notes (A): NOK denominated 144,840 161,880 U.S. dollar equivalent $ 16,336 20,152 Fair value in U.S. dollar equivalent (Level 2) 16,329 19,924 Variable rate borrowings: June 2013 borrowing agreement (B) (C) NOK denominated — 25,000 U.S. dollar equivalent $ — 3,112 May 2012 borrowing agreement (B) (D) NOK denominated — 20,000 U.S. dollar equivalent $ — 2,490 (A) Notes require semi-annual principal payments. (B) Fair values approximate carrying values because the borrowings bear interest at variable rates. (C) Remaining note balance was repaid in September 2015. The company recognized a $0.1 million gain on early extinguishment. (D) Note was repaid in May 2015 upon maturity.
Norwegian Kroner (NOK) denominated borrowing
Summary of Debt Outstanding	The following is a summary of interest and debt costs incurred, net of interest capitalized, for the quarters and nine-month periods ended December 31 Quarter Ended Nine Months Ended December 31, December 31, (In thousands) 2015 2014 2015 2014 Interest and debt costs incurred, net of interest capitalized $ 13,312 12,239 39,741 37,927 Interest costs capitalized 2,513 3,638 8,280 9,920 Total interest and debt costs $ 15,825 15,877 48,021 47,847

LOSS PER SHARE (Tables)

LOSS PER SHARE (Tables)	9 Months Ended
	Dec. 31, 2015
Earnings Per Share [Abstract]
Components of Basic and Diluted Loss Per Share	The components of basic and diluted loss per share for the quarters and the nine-month periods ended December 31, are as follows: Quarter Ended Nine Months Ended December 31, December 31, (In thousands, except share and per share data) 2015 2014 2015 2014 Net loss available to common shareholders $ (19,509 ) (160,694 ) (78,396 ) (56,114 ) Weighted average outstanding shares of common stock, basic 46,943,705 48,481,722 46,956,041 49,213,712 Dilutive effect of options and restricted stock awards and units — — — — Weighted average common stock and equivalents 46,943,705 48,481,722 46,956,041 49,213,712 Loss per share, basic (A) $ (0.42 ) (3.31 ) (1.67 ) (1.14 ) Loss per share, diluted (B) $ (0.42 ) (3.31 ) (1.67 ) (1.14 ) Additional information: Antidilutive incremental options and restricted stock awards and units 455,663 158,575 385,073 231,171 (A) The company calculates “Loss per share, basic” by dividing “Net loss available to common shareholders” by “Weighted average outstanding share of common stock, basic”. (B) The company calculates “Loss per share, diluted” by dividing “Net loss available to common shareholders” by “Weighted average common stock and equivalents ”.

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	9 Months Ended
	Dec. 31, 2015
Commitments And Contingencies Disclosure [Abstract]
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, by vessel type, as of December 31, 2015: Number Invested Remaining of Total Through Balance (In thousands, except vessel count) Vessels Cost 12/31/15 12/31/15 Vessels under construction (A): Deepwater PSVs 8 $ 335,746 231,256 104,490 Towing-supply vessels 1 16,280 13,580 2,700 Total vessel commitments (B) 9 $ 352,026 244,836 107,190 (A) Six additional option vessels and a fast supply boat are not included in the table above. (B) The company is entitled to receive a refund of prior shipyard payments totaling approximately $43 million (of which $12 million was received in January 2016) which would offset the remaining balance of vessel commitments. See further discussion below.

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Schedule of Fair Value Assets Measurement	The following table provides the fair value hierarchy for the supplemental plan assets measured at fair value as of December 31, 2015: Significant Significant Quoted prices in observable unobservable active markets inputs inputs (In thousands) Total (Level 1) (Level 2) (Level 3) Equity securities: Common stock $ 3,497 3,497 — — Preferred stock — — — — Foreign stock 258 258 — — American depository receipts 1,529 1,529 — — Preferred American depository receipts 15 15 — — Real estate investment trusts 74 74 — — Debt securities: Government debt securities 1,818 1,028 790 — Open ended mutual funds 1,770 1,770 — — Cash and cash equivalents 306 (34 ) 340 — Total $ 9,267 8,137 1,130 — Other pending transactions (195 ) (195 ) — — Total fair value of plan assets $ 9,072 7,942 1,130 — The following table provides the fair value hierarchy for the plan assets measured at fair value as of March 31, 2015: Significant Significant Quoted prices in observable unobservable active markets inputs inputs (In thousands) Total (Level 1) (Level 2) (Level 3) Equity securities: Common stock $ 3,859 3,859 — — Preferred stock — — — — Foreign stock 201 201 — — American depository receipts 1,685 1,685 — — Preferred American depository receipts 15 15 — — Real estate investment trusts 59 59 — — Debt securities: Government debt securities 1,926 1,377 549 — Open ended mutual funds 1,916 1,916 — — Cash and cash equivalents 377 72 305 — Total $ 10,038 9,184 854 — Other pending transactions (123 ) (123 ) — — Total fair value of plan assets $ 9,915 9,061 854 —
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 December 31, 2015: Significant Significant Quoted prices in observable unobservable active markets inputs inputs (In thousands) Total (Level 1) (Level 2) (Level 3) Money market cash equivalents $ 1,507 1,507 — — Total fair value of assets $ 1,507 1,507 — — The following table provides the fair value hierarchy for the company’s other financial instruments measured as of March 31, 2015: Significant Significant Quoted prices in observable unobservable active markets inputs inputs (In thousands) Total (Level 1) (Level 2) (Level 3) Money market cash equivalents $ 3,007 3,007 — — Total fair value of assets $ 3,007 3,007 — —

OTHER CURRENT ASSETS, OTHER A33

OTHER CURRENT ASSETS, OTHER ASSETS, ACCRUED EXPENSES, OTHER CURRENT LIABILITIES AND OTHER LIABILITIES AND DEFERRED CREDITS (Tables)	9 Months Ended
	Dec. 31, 2015
Other Current Assets Other Assets Accrued Expenses Other Current Liabilities And Other Non Current Liabilities And Deferred Credits [Abstract]
Schedule of Other Current Assets	A summary of other current assets at December 31, 2015 and March 31, 2015 is as follows: December 31, March 31, (In thousands) 2015 2015 Deposits on vessel construction options (A) $ 44,748 — Deposits - general 7,017 7,381 Prepaid expenses 9,054 10,400 $ 60,819 17,781 (A) Refer to Note (7) for additional discussion regarding the vessels under construction with option agreements.
Schedule Of Other Assets	A summary of other assets at December 31, 2015 and March 31, 2015 is as follows: December 31, March 31, (In thousands) 2015 2015 Recoverable insurance losses $ 9,682 10,468 Deferred income tax assets 31,136 19,004 Deferred finance charges – revolver 7,125 7,396 Savings plans and supplemental plan 14,984 23,208 Other 19,423 15,120 $ 82,350 75,196
Schedule of Accrued Expenses	A summary of accrued expenses at December 31, 2015 and March 31, 2015 is as follows: December 31, March 31, (In thousands) 2015 2015 Payroll and related payables $ 22,405 32,041 Commissions payable (A) 7,197 8,282 Accrued vessel expenses 53,414 79,549 Accrued interest expense 4,791 14,514 Other accrued expenses 8,797 11,869 $ 96,604 146,255 (B) Excludes $27.3 million and $46.3 million of commissions due to Sonatide at December 31, 2015 and March 31, 2015, respectively. These amounts are included in amounts due to affiliate.
Schedule of Other Current Liabilities	A summary of other current liabilities at December 31, 2015 and March 31, 2015 is as follows: December 31, March 31, (In thousands) 2015 2015 Taxes payable $ 41,480 56,620 Deferred gain on vessel sales - current 24,403 25,057 Other 370 784 $ 66,253 82,461
Schedule of Other Liabilities and Deferred Credits	A summary of other liabilities and deferred credits at December 31, 2015 and March 31, 2015 is as follows: December 31, March 31, (In thousands) 2015 2015 Postretirement benefits liability $ 20,651 23,018 Pension liabilities 42,773 41,279 Deferred gain on vessel sales 118,420 136,238 Other 28,395 34,573 $ 210,239 235,108

SEGMENT AND GEOGRAPHIC DISTRI34

SEGMENT AND GEOGRAPHIC DISTRIBUTION OF OPERATIONS (Tables)	9 Months Ended
	Dec. 31, 2015
Segment Reporting [Abstract]
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 and nine-month periods ended December 31, 2015 and 2014. Vessel revenues and operating costs relate to vessels owned and operated by the company while other operating revenues relate to the activities of the remotely operated vehicles (ROVs), brokered vessels and other miscellaneous marine-related businesses. Quarter Ended Nine Months Ended December 31, December 31, (In thousands) 2015 2014 2015 2014 Revenues: Vessel revenues: Americas $ 75,963 134,554 279,345 388,550 Asia/Pacific 19,144 35,046 79,254 121,284 Middle East/North Africa 40,184 55,925 132,786 160,301 Sub-Saharan Africa/Europe 77,617 152,601 283,967 480,453 212,908 378,126 775,352 1,150,588 Other operating revenues 5,283 9,428 19,536 20,167 $ 218,191 387,554 794,888 1,170,755 Vessel operating profit (loss): Americas $ 9,289 33,784 41,940 100,770 Asia/Pacific (3,796 ) 2,621 4,122 9,064 Middle East/North Africa 5,849 12,408 21,524 31,568 Sub-Saharan Africa/Europe (2,079 ) 34,120 2,459 113,168 9,263 82,933 70,045 254,570 Other operating loss (626 ) (1,032 ) (3,120 ) (5,548 ) 8,637 81,901 66,925 249,022 Corporate general and administrative expenses (7,150 ) (9,411 ) (25,096 ) (30,686 ) Corporate depreciation (1,629 ) (834 ) (4,772 ) (2,486 ) Corporate expenses (8,779 ) (10,245 ) (29,868 ) (33,172 ) Gain on asset dispositions, net 5,883 4,699 19,345 13,092 Asset impairments (A) (15,141 ) (6,236 ) (61,771 ) (8,096 ) Goodwill impairment — (283,699 ) — (283,699 ) Restructuring charge (B) — — (7,586 ) — Operating loss $ (9,400 ) (213,580 ) (12,955 ) (62,853 ) Foreign exchange gain (loss) (469 ) 4,334 (3,758 ) 8,453 Equity in net earnings (losses) of unconsolidated companies (1,710 ) — (7,070 ) 9,104 Interest income and other, net 609 434 1,754 1,555 Interest and other debt costs, net (13,312 ) (12,239 ) (39,741 ) (37,927 ) Loss before income taxes $ (24,282 ) (221,051 ) (61,770 ) (81,668 ) Depreciation and amortization: Americas $ 12,029 11,825 36,311 35,623 Asia/Pacific 5,803 4,731 16,503 13,538 Middle East/North Africa 6,992 7,016 21,103 20,383 Sub-Saharan Africa/Europe 17,600 18,067 54,084 55,494 42,424 41,639 128,001 125,038 Other 1,369 858 4,285 2,626 Corporate 1,629 834 4,772 2,486 $ 45,422 43,331 137,058 130,150 Additions to properties and equipment: Americas $ 2,064 32,421 44,118 64,057 Asia/Pacific 360 44,983 2,069 68,193 Middle East/North Africa 127 424 776 1,659 Sub-Saharan Africa/Europe 460 823 1,827 14,736 3,011 78,651 48,790 148,645 Other 26 10,206 113 18,931 Corporate (C) 8,872 14,198 103,467 67,678 $ 11,909 103,055 152,370 235,254 (A) Refer to Note (15) for additional information regarding asset impairment charges. (B) Refer to Note (14) for additional information regarding the restructuring charge. (C) 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 December 31, 2015 and March 31, 2015: December 31, March 31, (In thousands) 2015 2015 Total assets: Americas $ 1,132,305 1,016,133 Asia/Pacific 515,380 506,265 Middle East/North Africa 591,657 666,983 Sub-Saharan Africa/Europe 1,871,941 2,064,010 4,111,283 4,253,391 Other 45,789 49,554 4,157,072 4,302,945 Investments in, at equity, and advances to unconsolidated companies 45,663 65,844 4,202,735 4,368,789 Corporate (A) 277,780 387,373 $ 4,480,515 4,756,162 (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 December 31, 2015 and March 31, 2015, $150.1 million and $235.2 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 and nine-month periods ended December 31, 2015 and 2014: Quarter Ended Nine Months Ended Revenue by vessel class December 31, December 31, (In thousands) 2015 % 2014 % 2015 % 2014 % Americas fleet: Deepwater $ 49,792 23 % 94,298 25 % 191,720 25 % 267,983 23 % Towing-supply 22,254 11 % 33,607 9 % 75,890 10 % 97,511 9 % Other 3,917 2 % 6,649 2 % 11,735 1 % 23,056 2 % Total $ 75,963 36 % 134,554 36 % 279,345 36 % 388,550 34 % Asia/Pacific fleet: Deepwater $ 13,267 6 % 20,575 5 % 56,535 7 % 72,492 6 % Towing-supply 5,877 3 % 13,487 4 % 22,719 3 % 45,862 4 % Other — — 984 <1% — — 2,930 <1% Total $ 19,144 9 % 35,046 9 % 79,254 10 % 121,284 10 % Middle East/North Africa fleet: Deepwater $ 17,690 9 % 25,615 7 % 58,845 8 % 64,336 6 % Towing-supply 21,795 10 % 29,441 8 % 71,898 9 % 93,435 8 % Other 699 <1% 869 <1% 2,043 <1% 2,530 <1% Total $ 40,184 19 % 55,925 15 % 132,786 17 % 160,301 14 % Sub-Saharan Africa/Europe fleet: Deepwater $ 30,361 14 % 81,129 21 % 124,282 16 % 262,013 23 % Towing-supply 35,186 16 % 52,532 14 % 118,490 15 % 162,585 14 % Other 12,070 6 % 18,940 5 % 41,195 6 % 55,855 5 % Total $ 77,617 36 % 152,601 40 % 283,967 37 % 480,453 42 % Worldwide fleet: Deepwater $ 111,110 52 % 221,617 58 % 431,382 56 % 666,824 58 % Towing-supply 85,112 40 % 129,067 35 % 288,997 37 % 399,393 35 % Other 16,686 8 % 27,442 7 % 54,973 7 % 84,371 7 % Total $ 212,908 100 % 378,126 100 % 775,352 100 % 1,150,588 100 %

GOODWILL (Tables)

GOODWILL (Tables)	9 Months Ended
	Dec. 31, 2015
Goodwill And Intangible Assets Disclosure [Abstract]
Schedule of Goodwill by Reportable Segment	Goodwill by reportable segment at December 31, 2015 and 2014 is as follows: March 31, December (In thousands) 2015 Goodwill acquired Impairments 2015 Americas $ — — — — Sub-Saharan Africa/Europe — — — — Total carrying amount (A) $ — — — — March 31, December (In thousands) 2014 Goodwill acquired Impairments 2014 Americas $ 114,237 — 114,237 — Sub-Saharan Africa/Europe 169,462 — 169,462 — Total carrying amount (B) $ 283,699 — 283,699 — (A) The total carrying amount of goodwill at March 31, 2015 and December 31, 2015 is net of accumulated impairment charges of $370.9 million. (B) The total carrying amount of goodwill at March 31, 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.

SALE_LEASEBACK ARRANGEMENTS (Ta

SALE/LEASEBACK ARRANGEMENTS (Tables)	9 Months Ended
	Dec. 31, 2015
Leases [Abstract]
Schedule of Future Minimum Lease Payments	As of December 31, 2015, the future minimum lease payments for vessels under operating lease terms are as follows: Fiscal 2015 Fiscal 2014 Fiscal year ending (In thousands) Sale/Leaseback Sale/Leaseback Total Remaining three months of 2016 $ 2,371 5,220 7,591 2017 9,485 20,879 30,364 2018 9,604 23,485 33,089 2019 10,234 24,800 35,034 2020 11,497 25,519 37,016 Thereafter 30,866 39,744 70,610 Total future lease payments $ 74,057 139,647 213,704

RESTRUCTURING CHARGE (Tables)

RESTRUCTURING CHARGE (Tables)	9 Months Ended
	Dec. 31, 2015
Restructuring And Related Activities [Abstract]
Restructuring Charges Incurred by Segment and Cost Type	Restructuring charges incurred by segment and cost type for the quarter and nine month periods ended December 31, 2015: Quarter Ended Nine Months Ended (In thousands) December 31, 2015 December 31, 2015 Americas: Crew costs $ — 3,410 Other vessel costs — 203 Asia/Pacific: Crew costs — 3,973 Total restructuring charges $ — 7,586

ASSET IMPAIRMENTS (Tables)

ASSET IMPAIRMENTS (Tables)	9 Months Ended
	Dec. 31, 2015
Asset Impairment Charges [Abstract]
Summary of Gain on Assets Disposition	The below table summarizes the combined fair value of the assets that incurred impairments during the quarters and nine-month periods ended December 31, 2015 and 2014, along with the amount of impairment. Quarter Ended Nine Months Ended December 31, December 31, (In thousands) 2015 2014 2015 2014 Amount of impairment incurred $ 15,141 6,236 61,771 8,096 Combined fair value of assets incurring impairment 90,010 3,914 244,310 4,634

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - USD ($)	3 Months Ended	9 Months Ended		12 Months Ended
	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Mar. 31, 2015	May. 31, 2014
Stockholders Equity Note [Line Items]
Amount remaining authorized to repurchase shares		$ 100,000,000
Number of Shares Repurchased	2,841,976	0	2,841,976
Shares repurchased, value	$ 99,999,000		$ 99,999,000	$ 99,999,000
Maximum
Stockholders Equity Note [Line Items]
Amount authorized to repurchase shares					$ 200,000,000

Schedule of Common Stock Repurc

Schedule of Common Stock Repurchased and Average Price Paid Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	9 Months Ended		12 Months Ended
	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Mar. 31, 2015
Stockholders Equity [Abstract]
Aggregate dollar outlay for common stock repurchased	$ 99,999		$ 99,999	$ 99,999
Number of Shares Repurchased	2,841,976	0	2,841,976
Average price paid per common share	$ 35.19		$ 35.19

Schedule of Dividends Declared

Schedule of Dividends Declared (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Stockholders' Equity [Abstract]
Dividends declared	$ 11,811	$ 12,029	$ 34,965	$ 37,229
Dividend per share	$ 0.25	$ 0.25	$ 0.75	$ 0.75

Changes in Accumulated Other Co

Changes in Accumulated Other Comprehensive Income (Loss) by Component, Net of Tax (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income, beginning balance	$ (20,628)	$ (11,728)	$ (20,378)	$ (12,225)
Gains/(losses) recognized in OCI	235	(73)	(499)	55
Reclasses from OCI to net income	156	135	640	504
Net period OCI	391	62	141	559
Accumulated other comprehensive income, ending balance	(20,237)	(11,666)	(20,237)	(11,666)
Available for Sale Securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income, beginning balance	(444)	225	235	92
Gains/(losses) recognized in OCI	235	(73)	(569)	(76)
Reclasses from OCI to net income	(24)	19	101	155
Net period OCI	211	(54)	(468)	79
Accumulated other comprehensive income, ending balance	(233)	171	(233)	171
Currency Translation Adjustment
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income, beginning balance	(9,811)	(9,811)	(9,811)	(9,811)
Accumulated other comprehensive income, ending balance	(9,811)	(9,811)	(9,811)	(9,811)
Pension/Post-retirement Benefits
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income, beginning balance	(9,059)	15	(9,129)	(116)
Gains/(losses) recognized in OCI			70	131
Net period OCI			70	131
Accumulated other comprehensive income, ending balance	(9,059)	15	(9,059)	15
Interest Rate Swaps
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income, beginning balance	(1,314)	(2,157)	(1,673)	(2,390)
Reclasses from OCI to net income	180	116	539	349
Net period OCI	180	116	539	349
Accumulated other comprehensive income, ending balance	$ (1,134)	$ (2,041)	$ (1,134)	$ (2,041)

Reclassifications from Accumula

Reclassifications from Accumulated Other Comprehensive Income (Loss) to Condensed Consolidated Statement of Income (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest income and other, net	$ 609	$ 434	$ 1,754	$ 1,555
Interest and other debt costs	13,312	12,239	39,741	37,927
Loss before income taxes	(24,282)	(221,051)	(61,770)	(81,668)
Tax effect	(4,679)	(60,070)	16,996	(25,211)
Net loss attributable to Tidewater Inc.	(19,509)	(160,694)	(78,396)	(56,114)
Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Loss before income taxes	240	207	984	775
Tax effect	84	72	344	271
Net loss attributable to Tidewater Inc.	156	135	640	504
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	(37)	29	155	238
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	$ 277	$ 178	$ 829	$ 537

Schedule of Uncertain Tax Posit

Schedule of Uncertain Tax Positions and Income Tax Payable (Detail) $ in Thousands	Dec. 31, 2015USD ($)
Income Tax Disclosure [Abstract]
Tax liabilities for uncertain tax positions	$ 14,591
Income tax payable	$ 27,581

Schedule of Unrecognized Tax Be

Schedule of Unrecognized Tax Benefits Which Would Lower Effective Tax Rate if Realized (Detail) - State and Local Jurisdiction $ in Thousands	9 Months Ended
	Dec. 31, 2015USD ($)
Income Tax Contingency [Line Items]
Unrecognized tax benefit related to state tax issues	$ 11,732
Interest receivable on unrecognized tax benefit related to state tax issues	$ 38

Employee Benefit Plans - Additi

Employee Benefit Plans - Additional Information (Detail) - USD ($)	3 Months Ended			9 Months Ended
	Mar. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
U.S. Defined Benefit Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, employer contributions		$ 0	$ 0	$ 0	$ 0
U.S. Defined Benefit Pension Plan | Scenario Forecast
Defined Benefit Plan Disclosure [Line Items]
Expected contribution to the plan during the fourth quarter of fiscal 2016	$ 0
Supplemental Executive Retirement Plan
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, employer contributions		0	$ 0	0	$ 0
Supplemental Executive Retirement Plan | Scenario Forecast
Defined Benefit Plan Disclosure [Line Items]
Expected contribution to the plan during the fourth quarter of fiscal 2016	$ 0
Postretirement Benefit Plan
Defined Benefit Plan Disclosure [Line Items]
Additional estimated net periodic benefit		$ 600,000		600,000
Multinational Retirement Plan
Defined Benefit Plan Disclosure [Line Items]
Reduction in defined plan assets and liabilities				$ 6,400,000
Percentage of defined plan, minimum employee contribution				1.00%
Percentage of defined plan, maximum employee contribution				50.00%
Percentage of defined plan, company contribution match, cash				50.00%
Percentage of defined plan, company contribution match, employee deferred compensation				6.00%
Defined contribution plan, company contribution, vesting period, years				5 years

Schedule of Carrying Value of T

Schedule of Carrying Value of Trust Assets, Including Unrealized Gains or Losses (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Mar. 31, 2015
Compensation And Retirement Disclosure [Abstract]
Investments held in Rabbi Trust	$ 9,072	$ 9,915
Unrealized gains (losses) in fair value of trust assets	233	235
Obligations under the supplemental plan	$ 27,143	$ 25,510

Schedule of Net Periodic Benefi

Schedule of Net Periodic Benefit Cost (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Pension Plan and Supplemental Plan
Net Period Benefit Cost Assumptions [Line Items]
Service cost	$ 234	$ 206	$ 702	$ 618
Interest cost	935	968	2,805	2,904
Expected return on plan assets	(530)	(685)	(1,590)	(2,055)
Amortization of prior service cost	9	12	27	36
Recognized actuarial (benefit) loss	567	247	1,701	741
Net periodic benefit cost	1,215	748	3,645	2,244
Other Benefits
Net Period Benefit Cost Assumptions [Line Items]
Service cost	41	68	191	204
Interest cost	103	226	524	678
Amortization of prior service cost	(899)	(508)	(1,920)	(1,524)
Recognized actuarial (benefit) loss	(281)	(325)	(770)	(975)
Net periodic benefit cost	$ (1,036)	$ (539)	$ (1,975)	$ (1,617)

Indebtedness - Senior Notes, Re

Indebtedness - Senior Notes, Revolving Credit and Term Loan Agreement - Additional Information (Detail) - Current Credit Facility	1 Months Ended
	May. 31, 2015USD ($)
Debt [Line Items]
Credit facility expiration date	2019-06
Revolving credit facility	$ 900,000,000
Credit facility term	5 years
Revolving line of credit	$ 600,000,000
Term loan	$ 300,000,000

Summary of Debt Outstanding (De

Summary of Debt Outstanding (Detail) - USD ($) $ in Thousands		9 Months Ended	12 Months Ended
		Dec. 31, 2015	Mar. 31, 2015
Term Loan Facility
Debt [Line Items]
Term loan agreement	[1]	$ 300,000	$ 300,000
Revolving Credit Agreement
Debt [Line Items]
Revolving line of credit	[1],[2]		20,000
September 2013 Senior Unsecured Notes
Debt [Line Items]
Aggregate debt outstanding		$ 500,000	$ 500,000
Weighted average remaining life in years		7 years 7 months 6 days	8 years 4 months 24 days
Weighted average coupon rate on notes outstanding		4.86%	4.86%
Fair value of debt outstanding (Level 2)		$ 425,950	$ 516,879
August 2011 Senior Unsecured Notes
Debt [Line Items]
Aggregate debt outstanding		$ 165,000	$ 165,000
Weighted average remaining life in years		4 years 9 months 18 days	5 years 7 months 6 days
Weighted average coupon rate on notes outstanding		4.42%	4.42%
Fair value of debt outstanding (Level 2)		$ 147,081	$ 167,910
September 2010 Senior Unsecured Notes
Debt [Line Items]
Aggregate debt outstanding	[3]	$ 382,500	$ 425,000
Weighted average remaining life in years	[3]	4 years 3 months 18 days	4 years 7 months 6 days
Weighted average coupon rate on notes outstanding	[3]	4.35%	4.25%
Fair value of debt outstanding (Level 2)	[3]	$ 344,634	$ 431,296
July 2003 Senior Unsecured Notes
Debt [Line Items]
Aggregate debt outstanding	[4]		$ 35,000
Weighted average remaining life in years	[4]	0 years	3 months 18 days
Weighted average coupon rate on notes outstanding	[4]		4.61%
Fair value of debt outstanding (Level 2)	[4]		$ 35,197
May 2015 United States Dollar Denominated Borrowing Agreement
Debt [Line Items]
Fair value of debt outstanding (Level 2)	[5],[6]	$ 30,047
Amount outstanding	[5],[6]	30,033
March 2015 United States Dollar Denominated Borrowing Agreement
Debt [Line Items]
Fair value of debt outstanding (Level 2)	[6]	28,265	29,501
Amount outstanding	[6]	$ 28,259	$ 29,488
[1]	Fair values approximate carrying values because the borrowings bear interest at variable rates.
[2]	$600 million and $580 million was available under the revolver at December 31, 2015 and March 31, 2015, respectively.
[3]	Principal repayments of $42.5 million were paid during the quarter ended December 31, 2015.
[4]	Remaining $35 million of borrowings fully paid in July 2015.
[5]	In May 2015, a wholly owned subsidiary of the company entered into a $31.3 million, U.S. dollar denominated, 12 year borrowing agreement which matures in April 2027 and is secured by a guarantee by Tidewater Inc. The loan requires semi-annual principal payments of $1.3 million (plus accrued interest) and bears interest at a fixed rate of 2.92% plus a spread based on Tidewater Inc.’s consolidated funded indebtedness to total capitalization ratio (currently equal to 1.30% for a total rate of 4.22%).
[6]	Notes require semi-annual principal payments.

Summary of Debt Outstanding (Pa

Summary of Debt Outstanding (Parenthetical) (Detail) - USD ($) $ in Millions	1 Months Ended
	Jul. 31, 2015	May. 31, 2015	Dec. 31, 2015	Mar. 31, 2015
Senior Notes due in April 2027 | Subsidiary of the company
Debt [Line Items]
Debt instruments face amount		$ 31.3
Debt instrument maturity, month and year		2027-04
Semi-annual principal payments		$ 1.3
Debt instrument bearing floating interest rate		2.92%
Indebtedness rate		1.30%
Total capitalization rate		4.22%
Revolving Credit Agreement
Debt [Line Items]
Revolving credit facility, remaining borrowing capacity			$ 600	$ 580
September 2010 Senior Unsecured Notes
Debt [Line Items]
Principal repayments due during the twelve months ending December 31, 2016			$ 42.5
July 2003 Senior Unsecured Notes
Debt [Line Items]
Repayments of debt	$ 35

Summary of Norwegian Kroner (NO

Summary of Norwegian Kroner (NOK) Denominated Borrowings Outstanding (Detail) NOK in Thousands, $ in Thousands		Dec. 31, 2015USD ($)	Dec. 31, 2015NOK	Mar. 31, 2015USD ($)	Mar. 31, 2015NOK
3.81% January 2014 notes
Debt [Line Items]
Long-term debt outstanding	[1]	$ 29,606	NOK 262,500	$ 34,234	NOK 275,000
Fair value in U.S. dollar equivalent (Level 2)	[1]	29,612		34,226
5.38% May 2012 notes
Debt [Line Items]
Long-term debt outstanding	[1]	16,336	NOK 144,840	20,152	161,880
Fair value in U.S. dollar equivalent (Level 2)	[1]	$ 16,329		19,924
Variable rate borrowings, June 2013 borrowing agreement
Debt [Line Items]
Long-term debt outstanding	[2],[3]			3,112	25,000
Variable rate borrowings, May 2012 borrowing agreement
Debt [Line Items]
Long-term debt outstanding	[2],[4]			$ 2,490	NOK 20,000
[1]	Notes require semi-annual principal payments.
[2]	Fair values approximate carrying values because the borrowings bear interest at variable rates.
[3]	Remaining note balance was repaid in September 2015. The company recognized a $0.1 million gain on early extinguishment
[4]	Note was repaid in May 2015 upon maturity.

Summary of Norwegian Kroner (53

Summary of Norwegian Kroner (NOK) Denominated Borrowings Outstanding (Parenthetical) (Detail) - USD ($) $ in Millions		9 Months Ended
		Dec. 31, 2015	Mar. 31, 2015
3.81% January 2014 notes
Debt [Line Items]
Debt instrument interest rate	[1]	3.81%	3.81%
Debt Instrument Maturity Period	[1]	January 2,014
5.38% May 2012 notes
Debt [Line Items]
Debt instrument interest rate	[1]	5.38%	5.38%
Debt Instrument Maturity Period	[1]	May 2,012
Variable rate borrowings, June 2013 borrowing agreement
Debt [Line Items]
Debt Instrument Maturity Period	[2],[3]	June 2,013
Debt instrument interest rate	[2],[3]	Variable rate
Gain (loss) on early extinguishment		$ 0.1
Variable rate borrowings, May 2012 borrowing agreement
Debt [Line Items]
Debt Instrument Maturity Period	[2],[4]	May 2,012
Debt instrument interest rate	[2],[4]	Variable rate
[1]	Notes require semi-annual principal payments.
[2]	Fair values approximate carrying values because the borrowings bear interest at variable rates.
[3]	Remaining note balance was repaid in September 2015. The company recognized a $0.1 million gain on early extinguishment
[4]	Note was repaid in May 2015 upon maturity.

Debt Costs (Detail)

Debt Costs (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Debt Disclosure [Abstract]
Interest and debt costs incurred, net of interest capitalized	$ 13,312	$ 12,239	$ 39,741	$ 37,927
Interest costs capitalized	2,513	3,638	8,280	9,920
Total interest and debt costs	$ 15,825	$ 15,877	$ 48,021	$ 47,847

Components of Basic and Diluted

Components of Basic and Diluted Loss Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		9 Months Ended
		Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Earnings Per Share [Abstract]
Net loss available to common shareholders		$ (19,509)	$ (160,694)	$ (78,396)	$ (56,114)
Weighted average outstanding shares of common stock, basic		46,943,705	48,481,722	46,956,041	49,213,712
Weighted average common stock and equivalents		46,943,705	48,481,722	46,956,041	49,213,712
Loss per share, basic	[1]	$ (0.42)	$ (3.31)	$ (1.67)	$ (1.14)
Loss per share, diluted	[2]	$ (0.42)	$ (3.31)	$ (1.67)	$ (1.14)
Antidilutive incremental options and restricted stock awards and units		455,663	158,575	385,073	231,171
[1]	The company calculates “Loss per share, basic” by dividing “Net loss available to common shareholders” by “Weighted average outstanding share of common stock, basic”.
[2]	The company calculates “Loss per share, diluted” by dividing “Net loss available to common shareholders” by “Weighted average common stock and equivalents”.

Schedule of Vessel Commitments

Schedule of Vessel Commitments (Detail) $ in Thousands		1 Months Ended	9 Months Ended
		May. 31, 2015USD ($)Vessel	Dec. 31, 2015USD ($)Vessel		Mar. 31, 2015USD ($)
Significant Purchase and Supply Commitment [Line Items]
Number of Vessels, commitments | Vessel			9
Vessel Commitments
Significant Purchase and Supply Commitment [Line Items]
Number of Vessels, commitments | Vessel	[1],[2]		9
Total cost, commitments	[1],[2]		$ 352,026
Invested, commitments	[1],[2]		244,836
Remaining Balance, commitments	[1],[2]		$ 107,190
Deepwater PSVs
Significant Purchase and Supply Commitment [Line Items]
Number of vessels under construction | Vessel		2	8	[1]
Total cost, under construction	[1]		$ 335,746
Invested, under construction		$ 5,400	231,256	[1]	$ 1,000
Remaining Balance, under construction	[1]		$ 104,490
Towing Supply Vessels
Significant Purchase and Supply Commitment [Line Items]
Number of vessels under construction | Vessel	[1]		1
Total cost, under construction	[1]		$ 16,280
Invested, under construction	[1]		13,580
Remaining Balance, under construction	[1]		$ 2,700
[1]	Six additional option vessels and a fast supply boat are not included in the table above.
[2]	The company is entitled to receive a refund of prior shipyard payments totaling approximately $43 million (of which $12 million was received in January 2016) which would offset the remaining balance of vessel commitments. See further discussion below.

Schedule of Vessel Commitment57

Schedule of Vessel Commitments (Parenthetical) (Detail) $ in Thousands	1 Months Ended	9 Months Ended
	Jan. 31, 2016USD ($)	Dec. 31, 2015USD ($)Vessel	Sep. 30, 2015USD ($)
Significant Purchase and Supply Commitment [Line Items]
Refunds from cancelled vessel construction contracts		$ 43,000	$ 31,000
Refunds from cancelled vessel construction contracts		$ 36,190
Option Agreement
Significant Purchase and Supply Commitment [Line Items]
Number of vessels under construction | Vessel		6
Subsequent Event
Significant Purchase and Supply Commitment [Line Items]
Refunds from cancelled vessel construction contracts	$ 12,000

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) $ in Thousands		1 Months Ended				3 Months Ended	9 Months Ended
		Jan. 31, 2016USD ($)	Jul. 31, 2015USD ($)	Jun. 30, 2015Vessel	May. 31, 2015USD ($)Vessel	Jun. 30, 2015USD ($)	Dec. 31, 2015USD ($)VesselhpT		Sep. 30, 2015USD ($)	Mar. 31, 2015USD ($)
Significant Purchase and Supply Commitment [Line Items]
Number of Vessels, commitments | Vessel							9
Refunds from cancelled vessel construction contracts							$ 36,190
Accrued interest owing on the returned installments									$ 3,700
Refunds from cancelled vessel construction contracts							$ 43,000		31,000
Relieved obligation									$ 75,000
Fast, Crew/Supply Boat
Significant Purchase and Supply Commitment [Line Items]
Number of vessels under construction | Vessel							1
Impairment charge on amounts not recoverable							$ 2,400
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							$ 2,400
Fast, Crew/Supply Boat | Reclassification of Construction in Progress to Other Non-Current Assets
Significant Purchase and Supply Commitment [Line Items]
Committed and invested amount, remaining							$ 5,600
Subsequent Event
Significant Purchase and Supply Commitment [Line Items]
Refunds from cancelled vessel construction contracts		$ 12,000
Deepwater PSVs
Significant Purchase and Supply Commitment [Line Items]
Significant commitment, new construction deadweight tons capacity range, low | T							4,200
Significant commitment, new construction deadweight tons capacity range, high | T							6,000
Significant commitment, new construction final delivery date							May 2,017
Number of vessels under construction | Vessel					2		8	[1]
Aggregate installment payment					$ 5,400		$ 231,256	[1]		$ 1,000
Significant commitment, new construction delivery date					Jun. 30, 2016
Obligation to be relieved					$ 21,700
Aggregate installment payment payment with interest					$ 12,000
Towing Supply Vessels
Significant Purchase and Supply Commitment [Line Items]
Significant commitment, new construction brake horsepower | hp							7,145
Number of vessels under construction | Vessel	[1]						1
Aggregate installment payment	[1]						$ 13,580
Vessel Commitments
Significant Purchase and Supply Commitment [Line Items]
Unfunded capital commitment	[1],[2]						$ 107,190
Number of Vessels, commitments | Vessel	[1],[2]						9
Unfunded capital commitment, net of expected refunds							$ 64,000
Expected refunds from shipyards							43,000
Vessels Under Construction
Significant Purchase and Supply Commitment [Line Items]
Number of vessels under construction | Vessel				6
Refunds from cancelled vessel construction contracts			$ 12,000			$ 24,000	36,000
Accrued interest owing on the returned installments							3,500
Impairment charge on amounts not recoverable						$ 800
Vessels Under Construction | Shipyard Credit
Significant Purchase and Supply Commitment [Line Items]
Offset against other payment							$ 3,500
[1]	Six additional option vessels and a fast supply boat are not included in the table above.
[2]	The company is entitled to receive a refund of prior shipyard payments totaling approximately $43 million (of which $12 million was received in January 2016) which would offset the remaining balance of vessel commitments. See further discussion below.

Commitments and Contingencies59

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

Commitments and Contingencies60

Commitments and Contingencies (Sonatide Joint Venture) - Additional Information (Detail) $ in Thousands		1 Months Ended	3 Months Ended		9 Months Ended		12 Months Ended
		Nov. 30, 2013	Dec. 31, 2015USD ($)Vessel	Dec. 31, 2014USD ($)Vessel	Dec. 31, 2015USD ($)Vessel	Dec. 31, 2014USD ($)Vessel	Mar. 31, 2015USD ($)Vessel
Commitments and Contingencies Disclosure [Line Items]
Vessel revenues			$ 212,908	$ 378,126	$ 775,352	$ 1,150,588
Other operating revenues			5,283	9,428	19,536	20,167
Due from affiliate			336,474		336,474		$ 420,365
Investments in, at equity, and advances to unconsolidated companies			45,663		45,663		65,844
Due to affiliate			169,943		169,943		185,657
Commissions payable	[1]		$ 7,197		$ 7,197		8,282
Sonatide joint venture
Commitments and Contingencies Disclosure [Line Items]
Definitive joint venture agreement term		2 years			1 year
Ownership Interest In Joint Venture			49.00%		49.00%
Foreign receipt, exposure to risk, description					If the company is unable to reach agreement on a new split payment arrangement, any contract entered into after the expiration of the consortium agreement may result in the receipt of 100% Angolan kwanzas, which would be subject to the challenges and risks described above. The company believes that the split payment contracts entered into with customers prior to the expiration of the consortium agreement will remain in force until their expirations.
Agreement expiration date					2015-11
Proceeds from dividends received			$ 15,000	$ 10,000
Other operating revenues					$ 10,000
Due from affiliate and due to affiliate					65,000
Due from affiliate			$ 336,000		$ 336,000		420,000
Number of vessels operating | Vessel			8		8
Number of vessels stacked | Vessel			3		3
Investments in, at equity, and advances to unconsolidated companies			$ 43,000		$ 43,000		67,000
Due to affiliate			170,000		170,000		186,000
Commissions payable			27,000		$ 27,000		66,000
Sonatide joint venture | Minimum
Commitments and Contingencies Disclosure [Line Items]
Additional percentage of surcharges on foreign exchange transactions					10.00%
Sonatide joint venture | Maximum
Commitments and Contingencies Disclosure [Line Items]
Expected time period to deliver the new build vessels					2 years
Sonatide joint venture | Angolan kwanza-denominated
Commitments and Contingencies Disclosure [Line Items]
Bank deposits maintained			95,000		$ 95,000
Sonatide joint venture | U.S Dollar Denominated
Commitments and Contingencies Disclosure [Line Items]
Bank deposits maintained			$ 1,000		1,000
Sonatide joint venture | Dollars held by Sonatide that did not need to be converted to U.S dollars prior to payment to Tidewater
Commitments and Contingencies Disclosure [Line Items]
Proceeds from related party					93,000		159,000
Sonatide joint venture | Sonatide's converting kwanzas into dollars and subsequent payment to Tidewater
Commitments and Contingencies Disclosure [Line Items]
Proceeds from related party					$ 89,000		179,000
Sonatide joint venture | ANGOLA
Commitments and Contingencies Disclosure [Line Items]
Ownership percentage requirement of local vessel operators					100.00%
Proceeds from related party					$ 182,000		338,000
Vessel revenues					$ 172,000	$ 271,000	$ 351,000
Percentage of Angolan operation revenue					22.00%	23.00%
Number of vessels operating | Vessel			66	83	66	83
Number of vessels stacked | Vessel			8	4	8	4
Number of vessels transferred out of Angola | Vessel							13
Number of vessels stacked transferred | Vessel			18		18
[1]	Excludes $27.3 million and $46.3 million of commissions due to Sonatide at December 31, 2015 and March 31, 2015, respectively. These amounts are included in amounts due to affiliate.

Commitments and Contingencies61

Commitments and Contingencies (Brazilian Customs) - Additional Information (Detail) BRL in Millions, $ in Millions	1 Months Ended
	Apr. 30, 2011BRLVessel	Dec. 31, 2015USD ($)	Dec. 31, 2015BRL
Commitments And Contingencies Disclosure [Abstract]
Fines assessed	BRL 155	$ 39
Number of Tidewater vessels that the subsidiaries failed to obtain import licenses from	17
Fines assessed		$ 8.3	BRL 33

Commitment and Contingencies (N

Commitment and Contingencies (Nigeria Marketing Agent Litigation) - Additional Information (Detail) $ in Millions	Mar. 01, 2013USD ($)
Federal Government of Nigeria
Commitments and Contingencies Disclosure [Line Items]
Due to affiliates	$ 16

Commitment and Contingencies (A

Commitment and Contingencies (Aribitral Award for the Taking of the Company's Venezuelan Operations) - Additional Information (Detail) - Compensatory Purposes - VENEZUELA - USD ($) $ in Millions	Mar. 13, 2015	Dec. 31, 2015
Commitments and Contingencies Disclosure [Line Items]
Compensation awarded to the subsidiaries		$ 65
Compensation awarded to the subsidiaries, annual compound interest rate	4.50%
Principal Investments
Commitments and Contingencies Disclosure [Line Items]
Compensation awarded to the subsidiaries	$ 46.4
Net Interest Settlements
Commitments and Contingencies Disclosure [Line Items]
Compensation awarded to the subsidiaries		$ 16.1
Legal And Other Settlements
Commitments and Contingencies Disclosure [Line Items]
Compensation awarded to the subsidiaries	$ 2.5

Schedule of Fair Value Assets a

Schedule of Fair Value Assets and Liabilities Measured on Recurring Basis (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Mar. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of plan assets	$ 9,072	$ 9,915
Supplemental Executive Retirement Plan
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	9,267	10,038
Other pending transactions	(195)	(123)
Total fair value of plan assets	9,072	9,915
Supplemental Executive Retirement Plan | Quoted Prices In Active Markets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	8,137	9,184
Other pending transactions	(195)	(123)
Total fair value of plan assets	7,942	9,061
Supplemental Executive Retirement Plan | Significant Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	1,130	854
Total fair value of plan assets	1,130	854
Supplemental Executive Retirement Plan | Common stock
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	3,497	3,859
Supplemental Executive Retirement Plan | Common stock | Quoted Prices In Active Markets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	3,497	3,859
Supplemental Executive Retirement Plan | Foreign Stock
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	258	201
Supplemental Executive Retirement Plan | Foreign Stock | Quoted Prices In Active Markets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	258	201
Supplemental Executive Retirement Plan | American Depository Receipts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	1,529	1,685
Supplemental Executive Retirement Plan | American Depository Receipts | Quoted Prices In Active Markets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	1,529	1,685
Supplemental Executive Retirement Plan | Preferred American Depository Receipts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	15	15
Supplemental Executive Retirement Plan | Preferred American Depository Receipts | Quoted Prices In Active Markets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	15	15
Supplemental Executive Retirement Plan | Real Estate Investment Trusts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	74	59
Supplemental Executive Retirement Plan | Real Estate Investment Trusts | Quoted Prices In Active Markets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	74	59
Supplemental Executive Retirement Plan | Government Debt Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	1,818	1,926
Supplemental Executive Retirement Plan | Government Debt Securities | Quoted Prices In Active Markets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	1,028	1,377
Supplemental Executive Retirement Plan | Government Debt Securities | Significant Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	790	549
Supplemental Executive Retirement Plan | Open Ended Mutual Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	1,770	1,916
Supplemental Executive Retirement Plan | Open Ended Mutual Funds | Quoted Prices In Active Markets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	1,770	1,916
Supplemental Executive Retirement Plan | Cash and Cash Equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	306	377
Supplemental Executive Retirement Plan | Cash and Cash Equivalents | Quoted Prices In Active Markets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	(34)	72
Supplemental Executive Retirement Plan | Cash and Cash Equivalents | Significant Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	$ 340	$ 305

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail)	9 Months Ended
	Dec. 31, 2015USD ($)Contract	Mar. 31, 2015USD ($)Contract
Derivatives, Fair Value [Line Items]
Cash equivalents maturity period, days	90 days
Number of contracts outstanding | Contract	0	2
Notional value of foreign exchange contract		$ 2,300,000
Forward Contracts
Derivatives, Fair Value [Line Items]
Gain (loss) on Derivatives	$ 1,800,000
Derivative assets		0
Derivative liabilities		$ 0

Schedule of Fair Value Other Fi

Schedule of Fair Value Other Financial Instruments Measured (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Mar. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets	$ 1,507	$ 3,007
Quoted Prices In Active Markets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets	1,507	3,007
Money Market Cash Equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets	1,507	3,007
Money Market Cash Equivalents | Quoted Prices In Active Markets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets	$ 1,507	$ 3,007

Schedule of Other Current Asset

Schedule of Other Current Assets (Detail) - USD ($) $ in Thousands		Dec. 31, 2015	Mar. 31, 2015
Other Current Assets, Other Assets Accrued Expenses Other Current Liabilities and other Non current liabilities and Deferred Credits [Abstract]
Deposits on vessel construction options	[1]	$ 44,748
Deposits - general		7,017	$ 7,381
Prepaid expenses		9,054	10,400
Total other current assets		$ 60,819	$ 17,781
[1]	Refer to Note (7) for additional discussion regarding the vessels under construction with option agreements.

Schedule of Other Assets (Detai

Schedule of Other Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Mar. 31, 2015
Other Current Assets, Other Assets Accrued Expenses Other Current Liabilities and other Non current liabilities and Deferred Credits [Abstract]
Recoverable insurance losses	$ 9,682	$ 10,468
Deferred income tax assets	31,136	19,004
Deferred finance charges – revolver	7,125	7,396
Savings plans and supplemental plan	14,984	23,208
Other	19,423	15,120
Total other assets	$ 82,350	$ 75,196

Schedule of Accrued Expenses (D

Schedule of Accrued Expenses (Detail) - USD ($) $ in Thousands		Dec. 31, 2015	Mar. 31, 2015
Other Current Assets, Other Assets Accrued Expenses Other Current Liabilities and other Non current liabilities and Deferred Credits [Abstract]
Payroll and related payables		$ 22,405	$ 32,041
Commissions payable	[1]	7,197	8,282
Accrued vessel expenses		53,414	79,549
Accrued interest expense		4,791	14,514
Other accrued expenses		8,797	11,869
Accrued expenses		$ 96,604	$ 146,255
[1]	Excludes $27.3 million and $46.3 million of commissions due to Sonatide at December 31, 2015 and March 31, 2015, respectively. These amounts are included in amounts due to affiliate.

Schedule of Accrued Expenses (P

Schedule of Accrued Expenses (Parenthetical) (Detail) - USD ($) $ in Thousands		Dec. 31, 2015	Mar. 31, 2015
Schedule of Accrued Liabilities [Line Items]
Commissions due	[1]	$ 7,197	$ 8,282
Sonatide joint venture
Schedule of Accrued Liabilities [Line Items]
Commissions due		27,000	66,000
Commissioner | Sonatide joint venture
Schedule of Accrued Liabilities [Line Items]
Commissions due		$ 27,300	$ 46,300
[1]	Excludes $27.3 million and $46.3 million of commissions due to Sonatide at December 31, 2015 and March 31, 2015, respectively. These amounts are included in amounts due to affiliate.

Schedule of Other Current Liabi

Schedule of Other Current Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Mar. 31, 2015
Other Current Assets, Other Assets Accrued Expenses Other Current Liabilities and other Non current liabilities and Deferred Credits [Abstract]
Taxes payable	$ 41,480	$ 56,620
Deferred gain on vessel sales - current	24,403	25,057
Other	370	784
Other current liabilities	$ 66,253	$ 82,461

Schedule of Other Liabilities a

Schedule of Other Liabilities and Deferred Credits (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Mar. 31, 2015
Other Current Assets, Other Assets Accrued Expenses Other Current Liabilities and other Non current liabilities and Deferred Credits [Abstract]
Postretirement benefits liability	$ 20,651	$ 23,018
Pension liabilities	42,773	41,279
Deferred gain on vessel sales	118,420	136,238
Other	28,395	34,573
Other liabilities and deferred credits	$ 210,239	$ 235,108

Segment Information, Geographic

Segment Information, Geographical Data and Major Customers (Detail) - USD ($) $ in Thousands		3 Months Ended			9 Months Ended
		Dec. 31, 2015	Sep. 30, 2015	Dec. 31, 2014	Dec. 31, 2015		Dec. 31, 2014
Segment Reporting Information [Line Items]
Vessel revenues		$ 212,908		$ 378,126	$ 775,352		$ 1,150,588
Other operating revenues		5,283		9,428	19,536		20,167
Total revenues		218,191		387,554	794,888		1,170,755
Operating profit (loss)		8,637		81,901	66,925		249,022
General and administrative expenses		(35,598)		(46,642)	(116,837)		(144,464)
Depreciation and amortization		45,422		43,331	137,058		130,150
Corporate expenses		(8,779)		(10,245)	(29,868)		(33,172)
Gain on asset dispositions, net		5,883		4,699	19,345		13,092
Asset impairments	[1]	(15,141)		(6,236)	(61,771)		(8,096)
Goodwill impairment				(283,699)			(283,699)	[2]
Restructuring charge			$ (7,586)		(7,586)	[3]
Operating loss		(9,400)		(213,580)	(12,955)		(62,853)
Foreign exchange gain (loss)		(469)		4,334	(3,758)		8,453
Equity in net earnings (losses) of unconsolidated companies		(1,710)			(7,070)		9,104
Interest income and other, net		609		434	1,754		1,555
Interest and other debt costs, net		(13,312)		(12,239)	(39,741)		(37,927)
Loss before income taxes		(24,282)		(221,051)	(61,770)		(81,668)
Additions to properties and equipment		11,909		103,055	152,370		235,254
Americas
Segment Reporting Information [Line Items]
Goodwill impairment							(114,237)
Sub-Saharan Africa/Europe
Segment Reporting Information [Line Items]
Goodwill impairment							(169,462)
All Other Segments
Segment Reporting Information [Line Items]
Operating profit (loss)		(626)		(1,032)	(3,120)		(5,548)
Depreciation and amortization		1,369		858	4,285		2,626
Additions to properties and equipment		26		10,206	113		18,931
Operating Segments
Segment Reporting Information [Line Items]
Operating profit (loss)		9,263		82,933	70,045		254,570
Depreciation and amortization		42,424		41,639	128,001		125,038
Additions to properties and equipment		3,011		78,651	48,790		148,645
Operating Segments | Americas
Segment Reporting Information [Line Items]
Vessel revenues		75,963		134,554	279,345		388,550
Operating profit (loss)		9,289		33,784	41,940		100,770
Depreciation and amortization		12,029		11,825	36,311		35,623
Additions to properties and equipment		2,064		32,421	44,118		64,057
Operating Segments | Asia/Pacific
Segment Reporting Information [Line Items]
Vessel revenues		19,144		35,046	79,254		121,284
Operating profit (loss)		(3,796)		2,621	4,122		9,064
Depreciation and amortization		5,803		4,731	16,503		13,538
Additions to properties and equipment		360		44,983	2,069		68,193
Operating Segments | Middle East/North Africa
Segment Reporting Information [Line Items]
Vessel revenues		40,184		55,925	132,786		160,301
Operating profit (loss)		5,849		12,408	21,524		31,568
Depreciation and amortization		6,992		7,016	21,103		20,383
Additions to properties and equipment		127		424	776		1,659
Operating Segments | Sub-Saharan Africa/Europe
Segment Reporting Information [Line Items]
Vessel revenues		77,617		152,601	283,967		480,453
Operating profit (loss)		(2,079)		34,120	2,459		113,168
Depreciation and amortization		17,600		18,067	54,084		55,494
Additions to properties and equipment		460		823	1,827		14,736
Corporate
Segment Reporting Information [Line Items]
General and administrative expenses		(7,150)		(9,411)	(25,096)		(30,686)
Depreciation and amortization		1,629		834	4,772		2,486
Additions to properties and equipment	[4]	$ 8,872		$ 14,198	$ 103,467		$ 67,678
[1]	Refer to Note (15) for additional information regarding asset impairment charges.
[2]	The total carrying amount of goodwill at March 31, 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
[3]	Refer to Note (14) for additional information regarding the restructuring charge.
[4]	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 (Det

Comparison of Total Assets (Detail) - USD ($) $ in Thousands		Dec. 31, 2015	Mar. 31, 2015
Segment and Geographic Distribution of Operations [Line Items]
Assets		$ 4,480,515	$ 4,756,162
Investments in, at equity, and advances to unconsolidated companies		45,663	65,844
All Other Segments
Segment and Geographic Distribution of Operations [Line Items]
Assets		45,789	49,554
Assets Before Equity Method Investments
Segment and Geographic Distribution of Operations [Line Items]
Assets		4,157,072	4,302,945
Assets Before Corporate Assets
Segment and Geographic Distribution of Operations [Line Items]
Assets		4,202,735	4,368,789
Operating Segments
Segment and Geographic Distribution of Operations [Line Items]
Assets		4,111,283	4,253,391
Operating Segments | Americas
Segment and Geographic Distribution of Operations [Line Items]
Assets		1,132,305	1,016,133
Operating Segments | Asia/Pacific
Segment and Geographic Distribution of Operations [Line Items]
Assets		515,380	506,265
Operating Segments | Middle East/North Africa
Segment and Geographic Distribution of Operations [Line Items]
Assets		591,657	666,983
Operating Segments | Sub-Saharan Africa/Europe
Segment and Geographic Distribution of Operations [Line Items]
Assets		1,871,941	2,064,010
Corporate
Segment and Geographic Distribution of Operations [Line Items]
Assets	[1]	$ 277,780	$ 387,373
[1]	(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 December 31, 2015 and March 31, 2015, $150.1 million and $235.2 million, respectively, of vessel construction costs are included in Corporate.

Comparison of Total Assets (Par

Comparison of Total Assets (Parenthetical) (Detail) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Dec. 31, 2015	Mar. 31, 2015
Corporate Vessels
Segment and Geographic Distribution of Operations [Line Items]
Construction costs	$ 150.1	$ 235.2

Schedule of Segment Reporting I

Schedule of Segment Reporting Information, Revenue by Vessel Class (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues	$ 212,908	$ 378,126	$ 775,352	$ 1,150,588
Americas Fleet Deepwater vessels
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues	$ 49,792	$ 94,298	$ 191,720	$ 267,983
Percentage of revenue	23.00%	25.00%	25.00%	23.00%
Americas Fleet Towing-Supply/supply
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues	$ 22,254	$ 33,607	$ 75,890	$ 97,511
Percentage of revenue	11.00%	9.00%	10.00%	9.00%
Americas Fleet Other
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues	$ 3,917	$ 6,649	$ 11,735	$ 23,056
Percentage of revenue	2.00%	2.00%	1.00%	2.00%
Americas Fleet
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues	$ 75,963	$ 134,554	$ 279,345	$ 388,550
Percentage of revenue	36.00%	36.00%	36.00%	34.00%
Asia and Pacific Fleet Deepwater vessels
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues	$ 13,267	$ 20,575	$ 56,535	$ 72,492
Percentage of revenue	6.00%	5.00%	7.00%	6.00%
Asia/Pacific Fleet Towing-Supply/supply
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues	$ 5,877	$ 13,487	$ 22,719	$ 45,862
Percentage of revenue	3.00%	4.00%	3.00%	4.00%
Asia and Pacific Fleet Other
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues		$ 984		$ 2,930
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	$ 19,144	$ 35,046	$ 79,254	$ 121,284
Percentage of revenue	9.00%	9.00%	10.00%	10.00%
Middle East/North Africa Fleet Deepwater vessels
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues	$ 17,690	$ 25,615	$ 58,845	$ 64,336
Percentage of revenue	9.00%	7.00%	8.00%	6.00%
Middle East/North Africa Fleet Towing-Supply/supply
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues	$ 21,795	$ 29,441	$ 71,898	$ 93,435
Percentage of revenue	10.00%	8.00%	9.00%	8.00%
Middle East and North Africa Fleet Other
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues	$ 699	$ 869	$ 2,043	$ 2,530
Middle East and North Africa Fleet Other | Maximum
Segment and Geographic Distribution of Operations [Line Items]
Percentage of revenue	1.00%	1.00%	1.00%	1.00%
Middle East/North Africa fleet
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues	$ 40,184	$ 55,925	$ 132,786	$ 160,301
Percentage of revenue	19.00%	15.00%	17.00%	14.00%
Sub-Saharan Africa/Europe Fleet Deepwater vessels
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues	$ 30,361	$ 81,129	$ 124,282	$ 262,013
Percentage of revenue	14.00%	21.00%	16.00%	23.00%
Sub-Saharan Africa/Europe Fleet Towing-Supply/supply
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues	$ 35,186	$ 52,532	$ 118,490	$ 162,585
Percentage of revenue	16.00%	14.00%	15.00%	14.00%
Sub Saharan Africa And Europe Fleet Other
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues	$ 12,070	$ 18,940	$ 41,195	$ 55,855
Percentage of revenue	6.00%	5.00%	6.00%	5.00%
Sub-Saharan Africa/Europe Fleet
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues	$ 77,617	$ 152,601	$ 283,967	$ 480,453
Percentage of revenue	36.00%	40.00%	37.00%	42.00%
Worldwide Fleet Deepwater vessels
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues	$ 111,110	$ 221,617	$ 431,382	$ 666,824
Percentage of revenue	52.00%	58.00%	56.00%	58.00%
Worldwide Fleet Towing-Supply/supply
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues	$ 85,112	$ 129,067	$ 288,997	$ 399,393
Percentage of revenue	40.00%	35.00%	37.00%	35.00%
Worldwide Fleet Other
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues	$ 16,686	$ 27,442	$ 54,973	$ 84,371
Percentage of revenue	8.00%	7.00%	7.00%	7.00%
Worldwide Fleet
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues	$ 212,908	$ 378,126	$ 775,352	$ 1,150,588
Percentage of revenue	100.00%	100.00%	100.00%	100.00%

Goodwill - Additional Informati

Goodwill - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Dec. 31, 2014	Dec. 31, 2014
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill impairment charge	$ 283,699	$ 283,699	[1]
[1]	The total carrying amount of goodwill at March 31, 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

Schedule of Goodwill and Change

Schedule of Goodwill and Changes to Goodwill by Reportable Segment (Detail) - USD ($) $ in Thousands		3 Months Ended	9 Months Ended
		Dec. 31, 2014	Dec. 31, 2014
Goodwill [Line Items]
Goodwill, Beginning Balance	[1]		$ 283,699
Impairments		$ 283,699	283,699	[1]
Americas
Goodwill [Line Items]
Goodwill, Beginning Balance			114,237
Impairments			114,237
Sub-Saharan Africa/Europe
Goodwill [Line Items]
Goodwill, Beginning Balance			169,462
Impairments			$ 169,462
[1]	The total carrying amount of goodwill at March 31, 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

Schedule of Goodwill and Chan79

Schedule of Goodwill and Changes to Goodwill by Reportable Segment (Parenthetical) (Detail) - USD ($) $ in Millions	Dec. 31, 2015	Mar. 31, 2015	Mar. 31, 2014
Goodwill [Line Items]
Accumulated impairment charges	$ 370.9	$ 370.9
Middle East/North Africa
Goodwill [Line Items]
Accumulated impairment charges			$ 30.9
Asia/Pacific
Goodwill [Line Items]
Accumulated impairment charges			$ 56.3

Schedule of Future Minimum Leas

Schedule of Future Minimum Lease Payments (Detail) $ in Thousands	Dec. 31, 2015USD ($)
Sale Leaseback Transaction [Line Items]
Remaining three months of 2016	$ 7,591
2,017	30,364
2,018	33,089
2,019	35,034
2,020	37,016
Thereafter	70,610
Total future lease payments	213,704
Fiscal 2015 Sale/Leasebacks
Sale Leaseback Transaction [Line Items]
Remaining three months of 2016	2,371
2,017	9,485
2,018	9,604
2,019	10,234
2,020	11,497
Thereafter	30,866
Total future lease payments	74,057
Fiscal 2014 Sale/Leasebacks
Sale Leaseback Transaction [Line Items]
Remaining three months of 2016	5,220
2,017	20,879
2,018	23,485
2,019	24,800
2,020	25,519
Thereafter	39,744
Total future lease payments	$ 139,647

Sale Leaseback Arrangements - A

Sale Leaseback Arrangements - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Leases [Abstract]
Deferred gains on sale/leaseback transactions	$ 5.8	$ 4.8	$ 17.5	$ 17.5

Restructuring Charge - Addition

Restructuring Charge - Additional Information (Detail) - USD ($)	Sep. 30, 2015	Dec. 31, 2015	Sep. 30, 2015	Dec. 31, 2015	[1]
Restructuring And Related Activities [Abstract]
Restructuring charge			$ 7,586,000	$ 7,586,000
Payments related to restructuring charges	$ 0	$ 5,800,000
[1]	Refer to Note (14) for additional information regarding the restructuring charge.

Restructuring Charges Incurred

Restructuring Charges Incurred by Segment and Cost Type (Detail) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2015	Dec. 31, 2015
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 7,586	$ 7,586	[1]
Americas | Crew Costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges		3,410
Americas | Other Vessel Costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges		203
Asia/Pacific | Crew Costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges		$ 3,973
[1]	Refer to Note (14) for additional information regarding the restructuring charge.

Asset Impairments - Additional

Asset Impairments - Additional Information (Detail) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Derivatives, Fair Value [Line Items]
Increase in asset impairment charges		$ 8,900		$ 53,700
Asset impairment charges	[1]	15,141	$ 6,236	61,771	$ 8,096
Stacked Vessels and Other Assets
Derivatives, Fair Value [Line Items]
Asset impairment charges		$ 15,200		55,500
Active Vessels
Derivatives, Fair Value [Line Items]
Asset impairment charges				3,000
Vessels Under Construction
Derivatives, Fair Value [Line Items]
Asset impairment charges				2,400
Cancellation of Vessel Construction Contracts
Derivatives, Fair Value [Line Items]
Asset impairment charges				$ 800
[1]	Refer to Note (15) for additional information regarding asset impairment charges.

Summary of Gain on Assets Dispo

Summary of Gain on Assets Disposition (Detail) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Fair Value Disclosures [Abstract]
Amount of impairment incurred	[1]	$ 15,141	$ 6,236	$ 61,771	$ 8,096
Combined fair value of assets incurring impairment		$ 90,010	$ 3,914	$ 244,310	$ 4,634
[1]	Refer to Note (15) for additional information regarding asset impairment charges.

Subsequent Events (Details)

Subsequent Events (Details) $ in Thousands	1 Months Ended	3 Months Ended	9 Months Ended
	Jan. 31, 2016USD ($)AOA / $	Dec. 31, 2015USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Subsequent Event [Line Items]
Equity in net earnings (losses) of unconsolidated companies		$ (1,710)	$ (7,070)	$ 9,104
Subsequent Event
Subsequent Event [Line Items]
Percentage Loss on devaluation of exchange rates	17.00%
Percentage of Foreign Currency Income Loss	49.00%
Equity in net earnings (losses) of unconsolidated companies	$ 8,000
Subsequent Event | Sonatide joint venture
Subsequent Event [Line Items]
Foreign currency transaction exchange loss	$ 17,000
Subsequent Event | Minimum
Subsequent Event [Line Items]
Devaluation of exchange rate | AOA / $	135
Subsequent Event | Maximum
Subsequent Event [Line Items]
Devaluation of exchange rate | AOA / $	158