Tidewater (TDW) 10-Q 8 Nov 16 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Sep. 30, 2016	Oct. 21, 2016
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2016
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
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		47,068,079

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2016	Mar. 31, 2016
Current assets:
Cash and cash equivalents	$ 674,923	$ 678,438
Trade and other receivables, net	209,850	228,113
Due from affiliate	300,757	338,595
Marine operating supplies	31,124	33,413
Other current assets	31,874	44,755
Total current assets	1,248,528	1,323,314
Investments in, at equity, and advances to unconsolidated companies	38,200	37,502
Properties and equipment:
Vessels and related equipment	4,486,959	4,666,749
Other properties and equipment	78,459	92,065
Properties and equipment, gross	4,565,418	4,758,814
Less accumulated depreciation and amortization	1,253,851	1,207,523
Net properties and equipment	3,311,567	3,551,291
Other assets	89,967	71,686
Total assets	4,688,262	4,983,793
Current liabilities:
Accounts payable	64,231	49,130
Accrued expenses	76,085	91,611
Due to affiliate	175,925	187,971
Accrued property and liability losses	3,602	3,321
Current portion of long-term debt	2,041,367	2,045,516
Other current liabilities	60,345	74,825
Total current liabilities	2,421,555	2,452,374
Deferred income taxes	48,204	34,841
Accrued property and liability losses	11,210	9,478
Other liabilities and deferred credits	164,530	181,546
Commitments and Contingencies (Note 8)
Equity:
Common stock of $0.10 par value, 125,000,000 shares authorized, issued 47,068,079 shares at September 30, 2016 and 47,067,715 shares at March 31, 2016	4,707	4,707
Additional paid-in capital	169,443	166,604
Retained earnings	1,867,701	2,135,075
Accumulated other comprehensive loss	(6,443)	(6,866)
Total stockholders’ equity	2,035,408	2,299,520
Noncontrolling Interests	7,355	6,034
Total equity	2,042,763	2,305,554
Total liabilities and equity	$ 4,688,262	$ 4,983,793

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Sep. 30, 2016	Mar. 31, 2016
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	47,068,079	47,067,715

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS (LOSS) (Unaudited) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Revenues:
Vessel revenues		$ 139,361	$ 264,131	$ 301,791	$ 562,444
Other operating revenues		4,361	7,792	9,856	14,253
Total revenues		143,722	271,923	311,647	576,697
Costs and expenses:
Vessel operating costs		87,094	158,612	195,968	337,893
Costs of other operating revenues		3,423	6,102	7,326	11,846
General and administrative		32,954	37,286	70,001	81,239
Vessel operating leases		8,441	8,441	16,882	16,884
Depreciation and amortization		43,845	45,979	88,397	91,636
Gain on asset dispositions, net		(6,253)	(6,111)	(11,896)	(13,462)
Asset impairments	[1]	129,562	31,672	166,448	46,630
Restructuring charge	[2]		7,586		7,586
Total costs and expenses		299,066	289,567	533,126	580,252
Operating loss		(155,344)	(17,644)	(221,479)	(3,555)
Other income (expenses):
Foreign exchange gain (loss)		(2,539)	844	(5,272)	(3,289)
Equity in net earnings (losses) of unconsolidated companies		1,313	(2,919)	1,312	(5,360)
Interest income and other, net		992	355	2,168	1,145
Interest and other debt costs, net		(18,477)	(13,247)	(35,431)	(26,429)
Total other income (expenses)		(18,711)	(14,967)	(37,223)	(33,933)
Loss before income taxes		(174,055)	(32,611)	(258,702)	(37,488)
Income tax expense		3,568	11,388	7,564	21,675
Net Loss		(177,623)	(43,999)	(266,266)	(59,163)
Less: Net income (loss) attributable to noncontrolling interests		867	(164)	1,321	(276)
Net loss attributable to Tidewater Inc.		$ (178,490)	$ (43,835)	$ (267,587)	$ (58,887)
Basic loss per common share	[3]	$ (3.79)	$ (0.93)	$ (5.69)	$ (1.25)
Diluted loss per common share	[4]	$ (3.79)	$ (0.93)	$ (5.69)	$ (1.25)
Weighted average common shares outstanding		47,067,864	46,942,950	47,067,790	46,962,242
Adjusted weighted average common shares		47,067,864	46,942,950	47,067,790	46,962,242
[1]	Refer to Note (15) for additional information regarding asset impairment charges.
[2]	Refer to Note (14) for additional information regarding the restructuring charge.
[3]	The company calculates “Loss per share, basic” by dividing “Net loss available to common shareholders” by “Weighted average outstanding shares of common stock, basic”.
[4]	The company calculates “Loss per share, diluted” by dividing “Net loss available to common shareholders” by “Weighted average common stock and equivalents”. As a result of the net losses incurred, the company has excluded the antidilutive effect of incremental share equivalents related to options, restricted stock awards and restricted stock units from the “Loss per share, diluted” calculation for the quarters and six month periods ended September 30, 2016 and 2015.

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Statement Of Income And Comprehensive Income [Abstract]
Net loss	$ (177,623)	$ (43,999)	$ (266,266)	$ (59,163)
Other comprehensive income (loss):
Unrealized gains (losses) on available for sale securities, net of tax of $0, $0, $0 and $0	119	(627)	280	(679)
Amortization of loss on derivative contract, net of tax of $0, $0, $0 and $0	72	180	143	359
Change in other benefit plan minimum liability, net of tax of $0, $0, $0 and $0				70
Total comprehensive loss	$ (177,432)	$ (44,446)	$ (265,843)	$ (59,413)

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Statement Of Income And Comprehensive Income [Abstract]
Unrealized gains (losses) on available-for-sale securities, tax	$ 0	$ 0	$ 0	$ 0
Amortization of loss on derivative contract, tax	0	0	0	0
Change in Other Benefit Plan minimum liability, tax	$ 0	$ 0	$ 0	$ 0

CONDENSED CONSOLIDATED STATEME7

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands		6 Months Ended
		Sep. 30, 2016	Sep. 30, 2015
Operating activities:
Net loss		$ (266,266)	$ (59,163)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization		88,397	91,636
Provision for deferred income taxes			128
Gain on asset dispositions, net		(11,896)	(13,462)
Asset impairments	[1]	166,448	46,630
Equity in earnings (losses) of unconsolidated companies, less dividends		(1,659)	6,424
Compensation expense - stock-based		2,628	6,614
Changes in assets and liabilities, net:
Trade and other receivables		18,263	30,891
Changes in due to/from affiliate, net		25,792	53,769
Marine operating supplies		2,289	11,370
Other current assets		(1,827)	(3,681)
Accounts payable		9,671	5,228
Accrued expenses		(16,386)	(13,512)
Accrued property and liability losses		281	(212)
Other current liabilities		(9,716)	(6,011)
Other liabilities and deferred credits		(5,173)	2,594
Other, net		(1,448)	4,648
Net cash provided by (used in) operating activities		(602)	163,891
Cash flows from investing activities:
Proceeds from sales of assets		1,839	6,133
Additions to properties and equipment		(9,509)	(138,990)
Refunds from cancelled vessel construction contracts		11,515	36,190
Net cash provided by (used in) investing activities		3,845	(96,667)
Cash flows from financing activities:
Principal payment on long-term debt		(5,036)	(64,374)
Debt borrowings			31,338
Cash dividends			(23,579)
Other		(1,722)	(961)
Net cash used in financing activities		(6,758)	(57,576)
Net change in cash and cash equivalents		(3,515)	9,648
Cash and cash equivalents at beginning of period		678,438	78,568
Cash and cash equivalents at end of period		674,923	88,216
Cash paid during the period for:
Interest, net of amounts capitalized		34,209	24,894
Income taxes		16,790	27,853
Supplemental disclosure of non-cash investing activities:
Additions to properties and equipment		$ 10,477	$ 1,471
[1]	Refer to Note (15) for additional information regarding asset impairment charges.

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, 2015	$ 2,480,715	$ 4,703	$ 159,940	$ 2,330,223	$ (20,378)	$ 6,227
Total comprehensive loss	(59,413)			(58,887)	(250)	(276)
Stock option activity	421		421
Cash dividends declared	(23,154)			(23,154)
Amortization of restricted stock units	5,187	1	5,186
Amortization/cancellation of restricted stock	236	(7)	243
Balance at Sep. 30, 2015	2,403,992	4,697	165,790	2,248,182	(20,628)	5,951
Balance at Mar. 31, 2016	2,305,554	4,707	166,604	2,135,075	(6,866)	6,034
Total comprehensive loss	(265,843)			(267,587)	423	1,321
Stock option activity	577		577
Cancellation of restricted stock awards	213			213
Amortization/cancellation of restricted stock	2,262		2,262
Balance at Sep. 30, 2016	$ 2,042,763	$ 4,707	$ 169,443	$ 1,867,701	$ (6,443)	$ 7,355

CONDENSED CONSOLIDATED STATEME9

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY (Unaudited) (Parenthetical) - $ / shares	3 Months Ended	6 Months Ended
	Sep. 30, 2015	Sep. 30, 2015
Statement Of Stockholders Equity [Abstract]
Cash dividends, per share declared	$ 0.25	$ 0.50

INTERIM FINANCIAL STATEMENTS

INTERIM FINANCIAL STATEMENTS	6 Months Ended
	Sep. 30, 2016
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, 2016, filed with the SEC on May 26, 2016. All subsequent references to “Notes” refer to Notes to Consolidated Financial Statements located in Item 1 of this Quarterly Report on Form 10-Q, unless otherwise stated. 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, a modification to the company’s reportable segments (refer to Note 12) and the adoption of ASU 2015-03, Interest-Imputation of Interest: Simplifying the Presentation of Debt Issue Costs

STATUS OF DISCUSSIONS WITH LEND

STATUS OF DISCUSSIONS WITH LENDERS AND NOTEHOLDERS / AUDIT OPINION	6 Months Ended
	Sep. 30, 2016
Status Of Discussions With Lenders And Noteholders Audit Opinion [Abstract]
STATUS OF DISCUSSIONS WITH LENDERS AND NOTEHOLDERS / AUDIT OPINION	(2) STATUS OF DISCUSSIONS WITH LENDERS AND NOTEHOLDERS Please refer to Note (6) of Notes to Consolidated Financial Statements included in Item 1 of this Quarterly Report on Form 10-Q and Note (5) of Notes to Consolidated Financial Statements included in Item 8 of the company’s Annual Report on Form 10-K for the year ended March 31, 2016 for additional information regarding the company’s outstanding debt. The decrease in oil and gas prices that began in the second half of fiscal 2015 and continued throughout fiscal 2016 has led to materially lower levels of spending for offshore exploration and development by the company’s customers globally. In addition, newly constructed vessels have been delivered over the last several years, exacerbating weak vessel utilization. With reduced demand for offshore support vessels along with a higher number of newer generation vessels, the company has experienced a significant decline in the utilization of its vessels, average day rates received and vessel revenue. The company has implemented a number of significant cost reduction measures to mitigate the effects of significantly lower vessel revenue and, given the currently challenging offshore support vessel market and business outlook, continues its efforts to reduce its operating costs and preserve its liquidity. At June 30, 2016 and September 30, 2016, the company did not meet the 3.0x minimum interest coverage ratio covenant (the “minimum interest coverage ratio requirement”) contained in its Revolving Credit and Term Loan Agreement (“Bank Loan Agreement”), the Troms Offshore Debt and the 2013 Senior Note Agreement (the “2013 Note Agreement”). Failure to meet the minimum interest coverage ratio requirement would have resulted in covenant noncompliance; however, as discussed in more detail below, limited waivers were received. Without these limited waivers, the respective lenders and/or the noteholders would have had the ability to declare the company to be in default of the Bank Loan Agreement, the Troms Offshore Debt and/or the 2013 Note Agreement, as applicable, and accelerate the indebtedness thereunder, the effect of which would be to likewise cause The company’s bank loans and its notes are linked together by cross-default provisions, such that if either the lenders or the noteholders declare the loans or notes to be in default, the other indebtedness likewise will be in default, and all of the debt at that time may be accelerated if the majority of lenders or noteholders under the respective debt agreements elect to accelerate. If the company is not in compliance with covenants set forth in the agreements evidencing these debt obligations, and such non-compliance is not waived, then the holders of a majority of loans may declare the bank loans to be in default, and the holders of a majority in principal amount of any of the three classes of the company’s notes may declare that class of notes to be in default. In such event, all of our indebtedness would be accelerated, and the company will not have sufficient liquidity to repay those accelerated amounts. The decision as to whether to accelerate the debt upon the company’s non-compliance with the debt covenants lies with the lenders and noteholders. While the company is continuing to work toward amendments to its various debt arrangements that will be acceptable to all parties, there is a possibility that the lenders, noteholders and the company will not be able to negotiate new debt terms that are acceptable to all parties, in which case the company will likely seek reorganization under Chapter 11 of the federal bankruptcy laws , which could include a restructuring of the company’s various debt obligations and could place equity holders at significant risk of losing some or all of their interests in the company. Given that the company expected it would not meet the minimum interest coverage ratio requirement set forth in the Bank Loan Agreement, the Troms Offshore Debt and the 2013 Note Agreement during fiscal 2017, which could result in the acceleration of the debt under these agreements and the company’s other Senior Notes, the report of the company's independent registered public accounting firm that accompanied the company’s audited consolidated financial statements for the fiscal year ended March 31, 2016 (the “audit opinion”) contained an explanatory paragraph regarding the company’s ability to continue as a going concern. Such going concern explanatory paragraph was required because the company’s internal forecast indicated that, within fiscal 2017, the company may no longer be in compliance with the minimum interest coverage ratio requirement In addition, the Bank Loan Agreement and the Troms Offshore Debt require that the company receive an unqualified audit opinion from an independent certified public accountant that is not subject to a going concern or similar modification. The inability of the company to obtain an audit opinion without any modification is an independent event of default under these agreements which would allow the lenders to accelerate the indebtedness thereunder, the effect of which would be to likewise cause all of the company’s Senior Notes to be in default. The explanatory paragraph in the audit opinion also references the audit opinion-related event of default under various borrowing arrangements as an uncertainty that raises substantial doubt about the company’s ability to continue as a going concern. As previously reported, the company obtained limited waivers from the necessary lenders which waived the unqualified audit opinion requirement and/or waived the minimum interest coverage ratio requirement until October 21, 2016. The company continues to engage in discussions with its principal lenders and noteholders to amend the company’s various debt arrangements in advance of the expiration of the waivers on November 11, 2016. In its October 21, 2016 press release announcing the most recent extension, the company reported that recent industry data, including data regarding projected levels of offshore drilling activity, a primary driver of activity within the offshore service vessel industry, had led the company to conclude that important debt terms will require further negotiation . Such negotiations, if successfully concluded, would require the company to make certain concessions under the existing agreements, such as providing collateral to secure the , repaying a portion of the indebtedness outstanding under the Bank Loan Agreement, accepting a reduction in total borrowing capacity under the revolving credit facility, paying a higher rate of interest, issuing some form of equity or equity linked compensation enhancement, paying down a portion of the Troms Offshore Debt and/or Senior Notes, or some combination of the above. In addition, such amendments will need to address the requirement of the been extended until November 11, 2016 Obtaining the covenant relief will require the company to reach an agreement that satisfies potentially divergent interests of its principal lenders and noteholders. The company’s unaudited condensed consolidated financial statements as of and for the quarter and six months ended September 30, 2016 were prepared assuming the company would continue as a going concern, which contemplates continuity of operations, realization of assets and the satisfaction of liabilities in the normal course of business for the twelve month period following the date of these consolidated financial statements.

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	6 Months Ended
	Sep. 30, 2016
Equity [Abstract]
STOCKHOLDERS' EQUITY	(3) STOCKHOLDERS' EQUITY 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 six-month periods ended September 30, 2016 and 2015: Quarter Ended Six Months Ended September 30, September 30, (In thousands, except dividend per share) 2016 2015 2016 2015 Dividends declared $ — 11,814 — 23,154 Dividend per share — 0.25 — 0.50 In January 2016, the company suspended the quarterly dividend program in order to preserve liquidity. Accumulated Other Comprehensive Loss The changes in accumulated other comprehensive income (loss) by component, net of tax for the quarters and six month periods ended September 30, 2016 and 2015 are as follows: For the quarter ended September 30, 2016 For the six months ended September 30, 2016 Balance Gains/(losses) Reclasses Net Remaining Balance Gains/(losses) Reclasses Net Remaining at recognized from period balance at recognized from period balance (in thousands) 6/30/16 in OCI net income OCI 9/30/16 3/31/16 in OCI net income OCI 9/30/16 Available for sale securities (47 ) 79 40 119 72 (208 ) 138 142 280 72 Currency translation adjustment (9,811 ) — — — (9,811 ) (9,811 ) — — — (9,811 ) Pension/Post- retirement benefits 4,683 — — — 4,683 4,683 — — — 4,683 Interest rate swaps (1,459 ) — 72 72 (1,387 ) (1,530 ) — 143 143 (1,387 ) Total (6,634 ) 79 112 191 (6,443 ) (6,866 ) 138 285 423 (6,443 ) For the quarter ended September 30, 2015 For the six months ended September 30, 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) 6/30/15 in OCI net income OCI 9/30/15 3/31/15 in OCI net income OCI 9/30/15 Available for sale securities 183 (690 ) 63 (627 ) (444 ) 235 (804 ) 125 (679 ) (444 ) 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 (1,494 ) — 180 180 (1,314 ) (1,673 ) — 359 359 (1,314 ) Total (20,181 ) (690 ) 243 (447 ) (20,628 ) (20,378 ) (734 ) 484 (250 ) (20,628 ) The following table summarizes the reclassifications from accumulated other comprehensive income (loss) to the condensed consolidated statement of income for the quarters and six month periods ended September 30, 2016 and 2015: Quarter Ended Six Months Ended September 30, September 30 Affected line item in the (In thousands) 2016 2015 2016 2015 consolidated statements of income Realized gains on available for sale securities $ 40 97 142 192 Interest income and other, net Amortization of interest rate swap 72 277 143 552 Interest and other debt costs Total pre-tax amounts 112 374 285 744 Tax effect — 131 — 260 Total gains for the period, net of tax $ 112 243 285 484

INCOME TAXES

INCOME TAXES	6 Months Ended
	Sep. 30, 2016
Income Tax Disclosure [Abstract]
INCOME TAXES	(4) INCOME TAXES For all periods prior to March 31, 2015, we 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. Beginning in the quarter ended June 30, 2015, we use a discrete effective tax rate method to calculate taxes for interim periods. 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 fiscal three and six-month periods ended September 30, 2016. Income tax expense for the three and six-month periods ended September 30, 2016 primarily 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 September 30, 2016 reflects the following in accordance with Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) 740, Income Taxes September 30, (In thousands) 2016 Tax liabilities for uncertain tax positions $ 14,189 Income tax payable 21,505 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 September 30, 2016, are as follows: September 30, (In thousands) 2016 Unrecognized tax benefit related to state tax issues $ 11,992 Interest receivable on unrecognized tax benefit related to state tax issues 44 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 2009. 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	6 Months Ended
	Sep. 30, 2016
Compensation And Retirement Disclosure [Abstract]
EMPLOYEE BENEFIT PLANS	(5) EMPLOYEE BENEFIT PLANS U.S. Defined Benefit Pension Plan The company has a defined benefit pension plan (pension plan) that covers certain U.S. citizen employees and other employees who are permanent residents of the United States. Effective April 1, 1996, the pension plan was closed to new participation. In December 2009, the Board of Directors amended the pension plan to discontinue the accrual of benefits once the plan was frozen on December 31, 2010. This change did not affect benefits earned by participants prior to January 1, 2011. The company contributed $3 million to the pension plan during the quarter and six-month period ended September 30, 2016. The company currently does not expect to contribute to the pension plan during the remaining quarters of fiscal 2017. The company did not contribute to the plan during the quarter and six months ended September 30, 2015. Supplemental Executive Retirement Plan The company also maintains a non-contributory, defined benefit supplemental executive retirement plan (supplemental plan) that provides pension benefits to certain employees in excess of those allowed under the company’s tax-qualified pension plan. A Rabbi Trust has been established to fund the obligations of 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 contributed approximately $0.1 million to the supplemental plan during the quarter and six-month period ended September 30, 2016, and expects to contribute less than $0.1 million to the supplemental plan during the remaining quarters of fiscal 2017. The company did not contribute to the supplemental plan during the six-month period ended September 30, 2015. Investments held in the Rabbi Trust 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 September 30, 2016 and March 31, 2016: September 30, March 31, (In thousands) 2016 2016 Investments held in Rabbi Trust $ 8,896 8,811 Unrealized losses in fair value of trust assets 72 (208 ) Unrealized losses in fair value of trust assets are net of income tax expense of — (168 ) Obligations under the supplemental plan 25,739 25,072 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. On 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 a $0.8 million and $1.7 million increase in net periodic postretirement benefit, which reduced pension expense during the quarter and six-month period ended September 30, 2016, respectively, as compared to the same periods during fiscal 2016. The medical coverage remains unchanged for participants under age 65. Net Periodic Benefit Costs The net periodic benefit cost for the company’s defined benefit pension plans 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 Six Months Ended September 30, September 30, (In thousands) 2016 2015 2016 2015 Pension Benefits: Service cost $ 254 234 506 468 Interest cost 941 935 1,882 1,870 Expected return on plan assets (548 ) (530 ) (1,097 ) (1,060 ) Administrative expenses 2 — 4 — Amortization of prior service cost — 9 — 18 Recognized actuarial loss 446 567 892 1,134 Net periodic benefit cost $ 1,095 1,215 2,187 2,430 Other Benefits: Service cost $ 20 75 40 150 Interest cost 50 211 100 421 Amortization of prior service cost (1,086 ) (510 ) (2,172 ) (1,021 ) Recognized actuarial benefit (285 ) (245 ) (570 ) (489 ) Net periodic benefit cost $ (1,301 ) (469 ) (2,602 ) (939 )

INDEBTEDNESS

INDEBTEDNESS	6 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
INDEBTEDNESS	(6) INDEBTEDNESS U.S. Dollar Denominated Debt The following is a summary of debt outstanding at September 30, 2016 and March 31, 2016: September 30, March 31, (In thousands, except weighted average data) 2016 2016 Bank loan agreement: Term loan (A) $ 300,000 300,000 Fair value term loan outstanding (Level 2) 195,000 300,000 Revolving line of credit (A) (B) 600,000 600,000 Fair value revolving line of credit outstanding (Level 2) 390,000 600,000 September 2013 senior unsecured notes: Aggregate debt outstanding $ 500,000 500,000 Weighted average remaining life in years (C) 6.9 7.4 Weighted average coupon rate on notes outstanding 4.86 % 4.86 % Fair value of debt outstanding (Level 2) $ 325,000 342,746 August 2011 senior unsecured notes: Aggregate debt outstanding $ 165,000 165,000 Weighted average remaining life in years (C) 4.1 4.6 Weighted average coupon rate on notes outstanding 4.42 % 4.42 % Fair value of debt outstanding (Level 2) $ 107,250 127,148 September 2010 senior unsecured notes: Aggregate debt outstanding $ 382,500 382,500 Weighted average remaining life in years (C) 3.6 4.1 Weighted average coupon rate on notes outstanding 4.35 % 4.35 % Fair value of debt outstanding (Level 2) $ 248,625 302,832 May 2015 4.22% notes (D): Amount outstanding $ 28,727 30,033 Fair value of debt outstanding (Level 2) 27,484 30,062 March 2015 4.21% notes (D): Amount outstanding $ 25,802 27,030 Fair value of debt outstanding (Level 2) 24,652 27,027 (A) The fair value of the term loan and the revolving line of credit approximated their carrying values at March 31, 2016. (B) The revolver was fully utilized at September 30, 2016 and March 31, 2016, respectively. (C) Weighted average remaining life in years is based on stated maturities; however, all of the company’s indebtedness has been reclassified as current since March 31, 2016. (D) Troms Offshore debt requires semi-annual principal payments and has a 12 year maturity. As of September 30, 2016 the company was in compliance with the debt to capital ratios set forth in its debt facilities and note indentures; however, the company was out of compliance with the 3.0x minimum interest coverage ratio requirement contained in its Revolving Line of Credit and Term Loan Agreement, 2013 Note Agreement and Troms Offshore Debt. Refer to further discussion of this matter in Note (2) in this Quarterly Report on Form 10-Q. Norwegian Kroner Denominated Debt The following is a summary of the Norwegian Kroner (NOK) denominated borrowings outstanding at September 30, 2016 and March 31, 2016, and their U.S. dollar equivalents: September 30, March 31, (In thousands) 2016 2016 January 2014 3.81% notes (A): NOK denominated 237,500 250,000 U.S. dollar equivalent $ 29,745 30,207 Fair value in U.S. dollar equivalent (Level 2) 28,460 30,199 May 2012 5.38% notes (A): NOK denominated 136,320 144,840 U.S. dollar equivalent $ 17,073 17,500 Fair value in U.S. dollar equivalent (Level 2) 16,408 17,479 (A) Troms Offshore debt requires semi-annual principal payments and has a 12 year 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 six-month periods ended September 30, 2016 and 2015: Quarter Ended Six Months Ended September 30, September 30, (In thousands) 2016 2015 2016 2015 Interest and debt costs incurred, net of interest capitalized $ 18,477 13,247 35,431 26,429 Interest costs capitalized 1,101 2,823 2,494 5,767 Total interest and debt costs $ 19,578 16,070 37,925 32,196 During the first quarter of fiscal 2017, the company adopted ASU 2015-03, Interest-Imputation of Interest: Simplifying the Presentation of Debt Issue Costs which requires that debt issuance costs related to a recognized debt liability are presented in the balance sheet as a deduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected by this guidance. Consistent with this guidance, $7.5 million and $6.8 million have been reclassified from other assets and are now presented as a reduction of debt as of September 30, 2016 and March 31, 2016, respectively.

LOSS PER SHARE

LOSS PER SHARE	6 Months Ended
	Sep. 30, 2016
Earnings Per Share [Abstract]
LOSS PER SHARE	(7) LOSS PER SHARE The components of basic and diluted loss per share for the quarters and the six-month periods ended September 30, 2016 and 2015 are as follows: Quarter Ended Six Months Ended September 30, September 30, (In thousands, except share and per share data) 2016 2015 2016 2015 Net loss available to common shareholders $ (178,490 ) (43,835 ) (267,587 ) (58,887 ) Weighted average outstanding shares of common stock, basic 47,067,864 46,942,950 47,067,790 46,962,242 Dilutive effect of options and restricted stock awards and units — — — — Weighted average common stock and equivalents 47,067,864 46,942,950 47,067,790 46,962,242 Loss per share, basic (A) $ (3.79 ) (0.93 ) (5.69 ) (1.25 ) Loss per share, diluted (B) $ (3.79 ) (0.93 ) (5.69 ) (1.25 ) Additional information: Antidilutive incremental options and restricted stock awards and units 525,161 317,518 508,989 306,727 (A) The company calculates “Loss per share, basic” by dividing “Net loss available to common shareholders” by “Weighted average outstanding shares 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	6 Months Ended
	Sep. 30, 2016
Commitments And Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	(8) 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 September 30, 2016: Number Invested Remaining of Total Through Balance (In thousands, except vessel count) Vessels Cost 9/30/16 9/30/16 Vessels under construction (A): Deepwater PSVs 3 $ 163,657 115,683 47,974 Total vessel commitments (B) 3 $ 163,657 115,683 47,974 (A) (B) The company is entitled to receive a refund of prior shipyard payments totaling $14.3 million which would reduce the remaining balance of vessel commitments. See further discussion below. The company has approximately $48 million in unfunded capital commitments associated with the three vessels under construction (approximately $33.7 million net of $14.3 million of expected refunds from shipyards) at September 30, 2016. The total cost of the three new-build vessels includes contract costs and other incidental costs. At September 30, 2016, three deepwater platform supply vessels (PSVs), each with between 4,700 and 5,400 deadweight tons (DWT) of cargo capacity, were under construction at different shipyards around the world. The deliveries of the remaining three new-build vessels are currently expected between February and June 2017. In June and September of 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, (a) the company took delivery of two towing-supply-class vessels and two PSVs at discounted purchase prices, (b) contracts for the four remaining towing-supply-class vessels were terminated and installment payments were returned to the company and (c) the company received options (but not obligations) to acquire the four remaining PSVs. As previously reported, the company owed $5.1 million in installments on two of the PSVs previously delivered by this shipyard as of March 31, 2016. The shipyard agreed to allow the company to offset the $5.1 million in obligations against the $19.1 million refund owed to the company. In October 2016, the company notified the shipyard that it would not be exercising the four remaining options and requested the return of the $14 million in installments on these four PSVs and the company anticipates receiving a net payment from the shipyard in November 2016 as a result of the company not exercising the four options. The four option vessels are not included in the preceding table of vessel commitments as of September 30, 2016. The return of the installments on the four PSVs is secured by Bank of China refundment guarantees. As a result of these settlements, in fiscal 2016, the company (a) received cash returned by the shipyard of $36 million, (b) terminated its obligation to make any additional payments of approximately $50 million, (c) used $3.5 million of accrued interest due to the company on returned installment payments to offset installment obligations on the four vessels ultimately delivered by this shipyard, and (d) recorded an impairment charge of $0.8 million to write off the amounts not recoverable from the shipyard. In fiscal 2017, the company (w) will receive cash from the shipyard of approximately $26 million, (x) terminated its obligation to make any additional payments of approximately $35 million and (y) used $3.8 million of accrued interest due to the company on returned installment payments to offset installment obligations on the four vessels ultimately delivered by this shipyard. The company anticipates that there will be no further payments, credits or charges under the settlement agreements after the $14 million net payment described above is made by the shipyard. In May 2015, the company entered into a settlement agreement 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. Under the terms of the settlement, the company could elect to take delivery of one or both completed vessels at any time prior to June 30, 2016. If the company did 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 was 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 $11.9 million) and (b) the company would be relieved of the obligation to pay to the shipyard the $21.7 million of remaining payments per vessel. The company recorded an impairment charge of $1.9 million in the fourth quarter of fiscal 2016 to write off the amount not recovered from the shipyard. In June 2016, the shipyard returned to the company approximately $11.5 million (or $11.7 million owed less foreign taxes on interest totaling approximately $0.2 million). The company and shipyard agreed to permit the shipyard to continue to hold the remaining $0.25 million of installments and extend the option period for both vessels until December 31, 2016. The shipyard's obligation to return the $0.25 million (plus interest) 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 September 30, 2016. 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 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 September 30, 2016. 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 successfully pursue legal action to compel payment of these instruments. When third party credit support that is acceptable to the company is not available or cost effective, the company endeavors to limit its credit risk by minimizing pre-delivery payments and through other contract terms with the shipyard. 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 joint venture agreement is currently effective and will expire, unless extended, two years after an Angolan entity, which is intended to be one of the Sonatide group of companies, has been incorporated. Based on recent communications with our partner and the appropriate ministry in Luanda, we remain hopeful that the Angolan entity will be incorporated in calendar 2016 after certain Angolan regulatory approvals have been obtained. The challenges for the company to successfully operate in Angola are significant. As the company has previously reported, beginning July 1, 2013, oil companies engaged in exploration and production activities offshore Angola through governmental concessions are required to pay for goods and services provided by foreign exchange residents in Angolan kwanzas that are initially deposited into an Angolan bank account. Angolan 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. As a result substantial customer payments are made to Sonatide in Angolan kwanzas. The conversion of Angolan kwanzas into U.S. dollars and the subsequent expatriation of the funds is a cumbersome process, causing payment delays and additional operating costs. In addition, through the company’s 49% ownership of Sonatide, the company had recognized foreign exchange losses. The payment process exposes Sonatide, and through the company’s 49% ownership of Sonatide, 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. These effects complicate the ability of the company to manage its cash and liquidity. The company and Sonangol responded to these laws by executing 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 are permitted to 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 . If the parties are unable to agree on a new consortium agreement, the parties would need to negotiate the terms of a new split billing arrangement 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 billing 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 split billing arrangements entered into with customers prior to the expiration of the consortium agreement remain in force by way of addenda or extensions to the previously executed contracts. The National Bank of Angola has also adopted regulations controlling the sale of foreign currency. These regulations generally require that in those situations where oil companies are required to use Angolan kwanza to pay for goods and services provided by foreign exchange resident oilfield service companies, they must purchase those Angolan kwanza from the National Bank of Angola. These foreign exchange resident oilfield services companies, in turn, generally need U.S. dollars 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. An equivalent amount of 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 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 six months ended September 30, 2016, the company collected (primarily through Sonatide) approximately $69 million from its Angolan operations. Of the $69 million collected, approximately $63 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 $6 million collected resulted from Sonatide’s converting Angolan kwanza into U.S. dollars and subsequently expatriating the dollars to facilitate payment to the company. The company also reduced the net due from affiliate and due to affiliate balances by approximately $37 million during the six months ended September 30, 2016 through netting transactions based on an agreement with the joint venture. For the fiscal year ended March 31, 2016, the company collected (primarily through Sonatide) approximately $215 million from its Angolan operations, which is slightly more than the approximate $213 million of revenue recognized for the same period. Of the $215 million collected, approximately $122 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 $93 million collected resulted from Sonatide’s converting Angolan kwanza into U.S. dollars and subsequently expatriating the dollars to facilitate payment to the company. 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 net due from affiliate and due to affiliate balances by approximately $84 million during the year ended March 31, 2016 through netting transactions based on an agreement with the joint venture. The company believes that the process for converting Angolan kwanzas continues to function, but the tight U.S. dollar liquidity situation continues in Angola. Sonatide continues to press the commercial banks with which it has relationships to increase the amount of U.S. dollars that are made available to Sonatide. As of September 30, 2016, the company had approximately $300 million in amounts due from Sonatide, with approximately $95 million 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, in part, supported by approximately $95 million of 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 six months ended September 30, 2016, the company’s Angolan operations generated vessel revenues of approximately $71.4 million, or 24%, of its consolidated vessel revenue, from an average of approximately 59 company-owned vessels that are marketed through the Sonatide joint venture (17 of which were stacked on average during the six months ended September 30, 2016), and, for the six months ended September 30, 2015, generated vessel revenues of approximately $124 million, or 22%, of consolidated vessel revenue, from an average of approximately 68 company-owned vessels (eleven of which were stacked on average during the six months ended September 30, 2015). Sonatide owns seven vessels (three of which are currently stacked) and certain other assets, in addition to earning commission income from company-owned vessels marketed through the Sonatide joint venture (owned 49% by the company). In addition, as of September 30, 2016, Sonatide maintained the equivalent of approximately $95 million of primarily 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 $8 million of U.S. dollar-denominated deposits in banks outside of Angola. As of September 30, 2016 and March 31, 2016, the carrying value of the company’s investment in the Sonatide joint venture, which is included in “Investments in, at equity, and advances to unconsolidated companies,” was approximately $38 million and $37 million, respectively. Due from affiliate at September 30, 2016 and March 31, 2016 of approximately $300 million and $339 million, respectively, represents cash received by Sonatide from customers and due to the company, amounts due from customers that are expected to be remitted to the company through Sonatide and costs incurred by the company on behalf of 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 September 30, 2016 and March 31, 2016 of approximately $176 million and $188 million, respectively, represents amounts due to Sonatide for commissions payable and other costs paid by Sonatide on behalf of the company. The Angolan government enacted a 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. It is unlikely that the company will have the ability to mitigate completely the effects of the levy, resulting in increased costs and lower margins, if the levy is interpreted to apply to Sonatide’s operations. The Angolan government enacted a new statute, which came into effect on July 1, 2016, for a new special contribution on certain banking transactions that imposes a 0.1% tax on the value of all debit transactions from customer’s accounts. The new tax has been imposed on Sonatide’s banking transactions. The relationship between this new tax and the 2015 surcharge is not yet clear. The new tax is not expected to materially impact the financial results of 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. Redeployment of vessels to and from Angola during the six months ended September 30, 2016 and year ended March 31, 2016 has resulted in a net 17 and 23 vessels transferred out of Angola, respectively. The redeployment of additional vessels from Angola to other markets often results in the company incurring mobilization costs and costs to redeploy the company’s shore-based employees to other areas, and experiencing lost revenues associated with potential downtime between vessel contracts. 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 the company were notified by the Customs Office in Macae, Brazil that they were jointly and severally being assessed fines of 155 million Brazilian reais (approximately $47.5 million as of September 30, 2016). The assessment of these fines is for the alleged failure of these subsidiaries to obtain import licenses with respect to 17 company vessels that provided Brazilian offshore vessel services to Petrobras, the Brazilian national oil company, over a three-year period ended December 2009. After consultation with its Brazilian tax advisors, the company 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). Based on the advice of its Brazilian counsel, the company believes that it has a high probability of success with respect to overturning the entire amount of the fines, either at the administrative appeal level or, if necessary, in Brazilian courts. In May 2016, a final administrative appeal allowed fines totaling 3 million Brazilian reais (approximately $1 million as of September 30, 2016). The company intends to appeal this 3 million Brazilian reais administrative award to the appropriate Brazilian court. If the Macae Customs Office were to prevail in the Brazil court action, the company would also be liable to pay substantial interest in the 3 million reais award. Fines totaling 30 million Brazilian reais (approximately $9.2 million as of September 30, 2016) are still subject to additional administrative appeals board hearings, but the company believes that previous administrative appeals board decisions will be helpful in those upcoming hearings for the vast majority of amounts still claimed by the Macae Customs Office. The remaining fines totaling 122 million (approximately $37.4 million as of September 30, 2016) of the original 155 million Brazilian reais of fines are now formally decided in favor of the company and are no longer at issue. The company believes that the ultimate resolution of this matter will not have a material effect on the company’s financial position, results of operations or cash flows. Repairs to U.S. Flagged Vessels Operating Abroad During fiscal 2015 the company became aware that it may have had compliance deficiencies in documenting and declaring upon re-entry to the U.S. certain foreign purchases for or repairs to U.S. flagged vessels while they were working outside of the U.S. When a U.S. flagged vessel operates abroad, certain foreign purchases for or repairs made to the U.S. flagged vessel while it is outside of the U.S. are subject to declaration with U.S. Customs and Border Protection (CBP) upon re-entry to the U.S. and are subject to 50% vessel repair duty. During our examination of our most recent filings with CBP, we determined that it was necessary to file amended forms with CBP to supplement previous filings. We have amended several vessel repair entries with CBP and have paid additional vessel repair duties and interest associated with these amended forms. We continue to review and evaluate the return of other U.S. flagged vessels to the U.S. 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 for additional vessels, we do not yet know the final magnitude of duties, civil penalties, fines and interest associated with amending the entries for these vessels. It is also possible that CBP may seek to impose civil penalties, fines or interest in connection with amended forms already submitted. Currency Devaluation and Fluctuation Risk Due to the company’s international operations, the company is exposed to foreign currency exchange rate fluctuations and exchange rate risks on all charter hire contracts denominated in foreign currencies. For some of our international contracts, a portion of the revenue and local expenses are incurred in local currencies with the result that the company is at risk of changes in the exchange rates between the U.S. dollar and foreign currencies. We generally do not hedge against any foreign currency rate fluctuations associated with foreign currency contracts that arise in the normal course of business, which exposes us to the risk of exchange rate losses. To minimize the financial impact of these items, the company attempts to contract a significant majority of its services in U.S. dollars. In addition, the company attempts to minimize the financial impact of these risks by matching the currency of the company’s operating costs with the currency of the revenue streams when considered appropriate. The company continually monitors the currency exchange risks associated with all contracts not denominated in U.S. dollars. Legal Proceedings 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 ($18.2 million as of September 30, 2016) and $2.5 million for reimbursement of legal and other costs expended by the company in connection with the arbitration. The aggregate award is therefore $67.1 million as of September 30, 2016. The nature of the investments expropriated and the progress of the ICSID proceeding were previously reported by the company in prior filings. The company is committed to taking appropriate steps to enforce and collect the award, which is enforceable in any of the 150 member states that are party to the ICSID Convention. As an initial step, the company was successful in having the award recognized and entered on March 16, 2015 as a final judgment by the United States District Court for the Southern District of New York. In July 2015, Venezuela applied to ICSID to annul the award and obtained a provisional stay of enforcement. In August 2015, ICSID formed an annulment committee and the first hearing of the committee took place on November 23, 2015. At that hearing, the committee heard arguments on the company’s motion to lift the provisional stay of enforcement with respect to all or a substantial portion of the award during the pendency of the annulment proceedings. On February 29, 2016, the committee ruled that the company is free to pursue the enforcement of a portion of the award amounting to $38.2 million as of September 30, 2016. Enforcement of the balance of the award ($28.9 million as of September 30, 2016) will remain stayed until the conclusion of the annulment proceeding, which the company anticipates will occur this calendar year. Even with the partial lifting of the stay of enforcement, the company recognizes that collection of the award may present significant practical challenges. Because the award has yet to be satisfied and post-award annulment proceedings are pending, the net impact of these matters on the company cannot be reasonably estimated at this time and the company has not recognized a gain related to these matters as of September 30, 2016. Nigeria Marketing Agent Litigation In October 2012, the company notified its Nigerian marketing agent, Phoenix Tide Offshore Nigeria Limited (“Phoenix Tide”), 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. The company is currently engaged in a number of legal disputes with Phoenix Tide and its two principals both in Nigeria and in the United Kingdom. These disputes involve three primary issues. First, the company believes that Phoenix Tide breached its contractual obligations to the company by discouraging various affiliates of TOTAL S.A. from paying approximately $12 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 the company for vessel services performed in Nigeria. The company will continue to actively pursue the collection of those monies. Second, the parties are disputing whether and to what extent the company owes further contractual obligations to Phoenix Tide, including any obligation to pay Phoenix Tide any further amounts for services previously performed. Third, the company is seeking to hold Phoenix Tide’s two principals personally liable to the company for interfering with the company’s business relationship with TOTAL S.A. In the United Kingdom, the company has been successful in obtaining favorable court orders against Phoenix Tide on a variety of issues, including the fact that Phoenix Tide wrongly interfered in stopping the approximate $12 million payment from TOTAL S.A. to the company, and is in the process of enforcing these orders. In April 2016, a United Kingdom court ruled that Phoenix Tide’s two principals were personally responsible for interfering with the company’s business relationship with TOTAL S.A. In June 2016, a United Kingdom court assessed $5.3 million, 1.9 million Nigerian naira and 0.3 million GBP (aggregating to $5.5 million as of September 30, 2016) in damages and legal costs against Phoenix Tide’s two principals for their tortious interference. The company is seeking to enforce that order against Phoenix Tide’s two principals. The disputes being litigated in Nigeria are proceeding slowly and all preliminary rulings by Nigerian courts are presently under appeal. The company has not reserved for this $12 million receivable and believes that the ultimate resolution of this matter will not have a material effect on the company’s financial position, results of operations or cash flows. 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.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended
	Sep. 30, 2016
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	(9) FAIR VALUE MEASUREMENTS Assets and Liabilities Measured at Fair Value on a Recurring Basis The company’s supplemental plan assets are accounted for at fair value and are classified within the fair value hierarchy based on the lowest level of input that is significant to the fair value measurement, with the exception of investments for which fair value is measured using the net asset value (NAV) per share expedient. The following table provides the fair value hierarchy for the supplemental plan assets measured at fair value as of September 30, 2016: Significant Significant Quoted prices in observable unobservable Measured at active markets inputs inputs Net Asset (In thousands) Total (Level 1) (Level 2) (Level 3) Value Equity securities: Common stock $ 3,631 3,631 — — — Foreign stock 133 133 — — — American depository receipts 1,345 1,345 — — — Preferred American depository receipts 18 18 — — — Real estate investment trusts 21 21 — — — Debt securities: Government debt securities 1,597 826 771 — — Open ended mutual funds 1,682 — — — 1,682 Cash and cash equivalents 394 53 326 — 15 Total $ 8,821 6,027 1,097 — 1,697 Other pending transactions 75 75 — — — Total fair value of plan assets $ 8,896 6,102 1,097 — 1,697 The following table provides the fair value hierarchy for the supplemental plan assets measured at fair value as of March 31, 2016: Significant Significant Quoted prices in observable unobservable Measured at active markets inputs inputs Net Asset (In thousands) Total (Level 1) (Level 2) (Level 3) Value Equity securities: Common stock $ 3,290 3,290 — — — Foreign stock 159 159 — — — American depository receipts 1,311 1,311 — — — Preferred American depository receipts 13 13 — — — Real estate investment trusts 61 61 — — — Debt securities: Government debt securities 1,711 972 739 — — Open ended mutual funds 1,663 — — — 1,663 Cash and cash equivalents 343 13 282 — 48 Total $ 8,551 5,819 1,021 — 1,711 Other pending transactions 260 291 (49 ) — 18 Total fair value of plan assets $ 8,811 6,110 972 — 1,729 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 one outstanding spot contract at September 30, 2016, which had a notional value of $0.8 million and settled October 3, 2016. The company had two foreign exchange spot contracts outstanding at March 31, 2016, which had a notional value of $1.4 million and settled April 1, 2016. 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 September 30, 2016, the company had one Norwegian kroner (NOK) forward contract outstanding, which is generally intended to hedge the company’s foreign exchange exposure relating to its NOK denominated notes payable as disclosed in Note (6). The forward contract has an expiration of November 2016. The combined change in fair value of the forward contracts active during the six months ended September 30, 2016 was $0.1 million, all of which was recorded as a foreign exchange gain because the forward contract did not qualify as hedge instruments. All changes in the fair value of the forward contract were recorded in earnings. At March 31, 2016, the company had 13 Norwegian kroner (NOK) forward contracts outstanding which had expiration dates between July 1, 2016 and November 10, 2016. The combined change in fair value of the outstanding forward contracts during the fiscal year ended March 31, 2016 was $0.1 million, all of which was recorded as a foreign exchange loss because the forward contracts did not qualify as hedge instruments. All changes in the fair value of the forward contracts were recorded in earnings. The following table provides the fair value hierarchy for the company’s other financial instruments measured as of September 30, 2016: Significant Significant Quoted prices in observable unobservable active markets inputs inputs (In thousands) Total (Level 1) (Level 2) (Level 3) Cash equivalents $ 631,138 631,138 — — Total fair value of assets $ 631,138 631,138 — — The following table provides the fair value hierarchy for the company’s other financial instruments measured as of March 31, 2016: Significant Significant Quoted prices in observable unobservable active markets inputs inputs (In thousands) Total (Level 1) (Level 2) (Level 3) Cash equivalents $ 643,770 643,770 — — Total fair value of assets $ 643,770 643,770 — — 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	6 Months Ended
	Sep. 30, 2016
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	(10) OTHER CURRENT ASSETS, OTHER ASSETS, ACCRUED EXPENSES, OTHER CURRENT LIABILITIES AND OTHER LIABILITIES AND DEFERRED CREDITS A summary of other current assets at September 30, 2016 and March 31, 2016 is as follows: September 30, March 31, (In thousands) 2016 2016 Deposits on vessel construction options (A) $ 13,474 30,285 Deposits - general 8,656 8,076 Prepaid expenses 9,744 6,394 Total other current assets $ 31,874 44,755 (A) Refer to Note (8) for additional discussion regarding the vessels under construction with option agreements. A summary of other assets at September 30, 2016 and March 31, 2016 is as follows: September 30, March 31, (In thousands) 2016 2016 Recoverable insurance losses $ 11,144 9,412 Deferred income tax assets 46,868 33,505 Savings plans and supplemental plan 14,546 14,472 Other 17,409 14,297 Total other assets $ 89,967 71,686 A summary of accrued expenses at September 30, 2016 and March 31, 2016 is as follows: September 30, March 31, (In thousands) 2016 2016 Payroll and related payables $ 12,248 12,864 Commissions payable 3,722 7,193 Accrued vessel expenses 37,639 45,838 Accrued interest expense 15,231 15,120 Other accrued expenses 7,245 10,596 Total accrued expenses $ 76,085 91,611 A summary of other current liabilities at September 30, 2016 and March 31, 2016 is as follows: September 30, March 31, (In thousands) 2016 2016 Taxes payable $ 35,299 45,854 Deferred gain on vessel sales - current 23,798 23,798 Other 1,248 5,173 Total other current liabilities $ 60,345 74,825 A summary of other liabilities and deferred credits at September 30, 2016 and March 31, 2016 is as follows: September 30, March 31, (In thousands) 2016 2016 Postretirement benefits liability $ 1,872 4,755 Pension liabilities 39,106 41,690 Deferred gain on vessel sales 100,822 112,721 Other 22,730 22,380 Total other liabilities and deferred credits $ 164,530 181,546

ACCOUNTING PRONOUNCEMENTS

ACCOUNTING PRONOUNCEMENTS	6 Months Ended
	Sep. 30, 2016
Accounting Changes And Error Corrections [Abstract]
ACCOUNTING PRONOUNCEMENTS	(11) 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. In October 2016, the FASB issued ASU 2016-16, Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments, In March 2016, the FASB issues ASU 2016-09, Compensation—Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting In February 2016, the FASB issued ASU 2016-02, Leases In November 2015, the FASB issued ASU 2015-17, Balance Sheet Classification of Deferred Taxes In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers.

SEGMENT AND GEOGRAPHIC DISTRIBU

SEGMENT AND GEOGRAPHIC DISTRIBUTION OF OPERATIONS	6 Months Ended
	Sep. 30, 2016
Segment Reporting [Abstract]
SEGMENT AND GEOGRAPHIC DISTRIBUTION OF OPERATIONS	(12) SEGMENT AND GEOGRAPHIC DISTRIBUTION OF OPERATIONS At the beginning of fiscal 2017 the company’s operations in the Mediterranean Sea (based in Egypt) were transitioned from the company’s previously disclosed Middle East/North Africa operations and included with the company’s previously disclosed Sub-Saharan Africa/Europe operations as a result of management realignments. As such, the company now discloses these new segments as Middle East and Africa/Europe, respectively. The company’s Americas and Asia/Pacific segments are not affected by this change. This new segment alignment is consistent with how the company’s chief operating decision maker reviews operating results for the purposes of allocating resources and assessing performance. Fiscal 2016 amounts have been recast to conform to the new segment alignment. The following table provides a comparison of segment revenues, vessel operating profit (loss), depreciation and amortization, and additions to properties and equipment for the quarters and six-month periods ended September 30, 2016 and 2015. 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 Six Months Ended September 30, September 30, (In thousands) 2016 2015 2016 2015 Revenues: Vessel revenues: Americas $ 53,125 89,210 113,733 203,382 Asia/Pacific 6,110 32,173 14,031 60,110 Middle East 23,474 28,684 47,676 60,937 Africa/Europe 56,652 114,064 126,351 238,015 139,361 264,131 301,791 562,444 Other operating revenues 4,361 7,792 9,856 14,253 $ 143,722 271,923 311,647 576,697 Vessel operating profit (loss): Americas $ (1,177 ) 8,812 (5,503 ) 32,651 Asia/Pacific (6,096 ) 6,168 (11,670 ) 7,918 Middle East 925 244 892 4,248 Africa/Europe (14,072 ) 10,518 (27,381 ) 15,965 (20,420 ) 25,742 (43,662 ) 60,782 Other operating loss (1,012 ) (658 ) (1,439 ) (2,494 ) (21,432 ) 25,084 (45,101 ) 58,288 Corporate general and administrative expenses (10,006 ) (7,932 ) (20,499 ) (17,946 ) Corporate depreciation (597 ) (1,649 ) (1,327 ) (3,143 ) Corporate expenses (10,603 ) (9,581 ) (21,826 ) (21,089 ) Gain on asset dispositions, net 6,253 6,111 11,896 13,462 Asset impairments (A) (129,562 ) (31,672 ) (166,448 ) (46,630 ) Restructuring charge (B) — (7,586 ) — (7,586 ) Operating loss $ (155,344 ) (17,644 ) (221,479 ) (3,555 ) Foreign exchange gain (loss) (2,539 ) 844 (5,272 ) (3,289 ) Equity in net earnings (losses) of unconsolidated companies 1,313 (2,919 ) 1,312 (5,360 ) Interest income and other, net 992 355 2,168 1,145 Interest and other debt costs, net (18,477 ) (13,247 ) (35,431 ) (26,429 ) Loss before income taxes $ (174,055 ) (32,611 ) (258,702 ) (37,488 ) Depreciation and amortization: Americas $ 12,700 12,232 25,478 24,282 Asia/Pacific 5,538 5,311 11,320 10,700 Middle East 5,241 4,802 10,353 9,601 Africa/Europe 18,430 20,483 37,199 40,994 41,909 42,828 84,350 85,577 Other 1,339 1,502 2,720 2,916 Corporate 597 1,649 1,327 3,143 $ 43,845 45,979 88,397 91,636 Additions to properties and equipment: Americas $ — 20,000 75 42,054 Asia/Pacific — 1,075 — 1,710 Middle East 34 357 314 649 Africa/Europe 392 1,094 459 1,367 426 22,526 848 45,780 Other — 86 — 86 Corporate (C) 9,445 24,830 19,138 94,595 $ 9,871 47,442 19,986 140,461 (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 September 30, 2016 and March 31, 2016: September 30, March 31, (In thousands) 2016 2016 Total assets: Americas $ 1,060,391 1,101,699 Asia/Pacific 461,858 514,948 Middle East 436,583 405,420 Africa/Europe 1,797,674 1,999,543 3,756,506 4,021,610 Other 24,673 42,191 3,781,179 4,063,801 Investments in, at equity, and advances to unconsolidated companies 38,200 37,502 3,819,379 4,101,303 Corporate (A) (B) 868,883 882,490 $ 4,688,262 4,983,793 (A) At September 30, 2016 and March 31, 2016, $641.8 million and $651.2 million, respectively, of cash are included in Corporate. (B) 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 vessel is assigned to a non-corporate reporting segment or the date it is delivered. At September 30, 2016 and March 31, 2016, $115.7 million and $136.8 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 six-month periods ended September 30, 2016 and 2015: Quarter Ended Six Months Ended Revenue by vessel class September 30, September 30, (In thousands) 2016 % of Vessel Revenue 2015 % of Vessel Revenue 2016 % of Vessel Revenue 2015 % of Vessel Revenue Americas fleet: Deepwater $ 37,270 27 % 61,776 24 % 77,657 26 % 141,928 25 % Towing-supply 13,039 9 % 24,121 9 % 29,918 10 % 53,636 9 % Other 2,816 2 % 3,313 1 % 6,158 2 % 7,818 2 % Total $ 53,125 38 % 89,210 34 % 113,733 38 % 203,382 36 % Asia/Pacific fleet: Deepwater $ 1,872 1 % 23,435 9 % 4,462 2 % 43,268 8 % Towing-supply 4,238 3 % 8,738 3 % 9,569 3 % 16,842 3 % Other — — — — — — — — Total $ 6,110 4 % 32,173 12 % 14,031 5 % 60,110 11 % Middle East fleet: Deepwater $ 6,988 5 % 5,750 2 % 13,026 4 % 12,441 2 % Towing-supply 16,486 12 % 22,934 9 % 34,650 11 % 48,496 9 % Other — — — — — — — — Total $ 23,474 17 % 28,684 11 % 47,676 15 % 60,937 11 % Africa/Europe fleet: Deepwater $ 24,305 17 % 54,974 21 % 57,594 19 % 122,635 22 % Towing-supply 25,934 19 % 43,086 16 % 53,851 18 % 84,911 15 % Other 6,413 5 % 16,004 6 % 14,906 5 % 30,469 5 % Total $ 56,652 41 % 114,064 43 % 126,351 42 % 238,015 42 % Worldwide fleet: Deepwater $ 70,435 50 % 145,935 56 % 152,739 51 % 320,272 57 % Towing-supply 59,697 43 % 98,879 37 % 127,988 42 % 203,885 36 % Other 9,229 7 % 19,317 7 % 21,064 7 % 38,287 7 % Total $ 139,361 100 % 264,131 100 % 301,791 100 % 562,444 100 %

SALE_LEASEBACK ARRANGEMENTS

SALE/LEASEBACK ARRANGEMENTS	6 Months Ended
	Sep. 30, 2016
Leases [Abstract]
SALE/LEASEBACK ARRANGEMENTS	(13) SALE/LEASEBACK ARRANGEMENTS As of September 30, 2016 the company operated 16 vessels under sale/leaseback arrangements of which nine are stacked. As of September 30, 2016, 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 six months of 2017 $ 4,743 10,439 15,182 2018 9,604 23,486 33,090 2019 10,234 24,800 35,034 2020 11,497 25,519 37,016 2021 11,594 19,979 31,573 Thereafter 19,273 20,063 39,336 Total future lease payments $ 66,945 124,286 191,231 Included in gain on asset dispositions, net for the quarter and six months ended September 30, 2016, respectively, were $5.9 million and $11.7 million of deferred gains from sale leaseback transactions.

RESTRUCTURING CHARGE

RESTRUCTURING CHARGE	6 Months Ended
	Sep. 30, 2016
Restructuring And Related Activities [Abstract]
RESTRUCTURING CHARGE	(14) RESTRUCTURING CHARGE In the second quarter of fiscal 2016 the company’s management restructured its operations to reduce operating 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 consisted of select employee terminations and early retirements that 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. The company has since paid all amounts accrued related to this restructuring charge. Measures taken during the second quarter of fiscal 2016 included 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 quarters and six-month periods ended September 30, 2016 and 2015 are as follows: Quarter Ended Six Months Ended September 30, September 30, (In thousands) 2016 2015 2016 2015 Americas: Crew costs $ — 3,410 — 3,410 Other vessel costs — 203 — 203 Asia/Pacific: Crew costs — 3,973 — 3,973 Total restructuring charges $ — 7,586 — 7,586

ASSET IMPAIRMENTS

ASSET IMPAIRMENTS	6 Months Ended
	Sep. 30, 2016
Asset Impairment Charges [Abstract]
ASSET IMPAIRMENTS	(15) ASSET IMPAIRMENTS 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 vessels with more significant 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. Due in part to the modernization of the company’s fleet more vessels that are being stacked are newer vessels that are expected to return to active service. Stacked vessels expected to return to active service are generally newer vessels, have similar capabilities and likelihood of future active service as other currently operating vessels, are generally current with classification societies in regards to their regulatory certification status, and are being actively marketed. Stacked vessels expected to return to service are evaluated for impairment as part of their assigned active asset group and not individually. The below table summarizes the combined fair value of the assets that incurred impairments during the quarters and six-month periods ended September 30, 2016 and 2015, along with the amount of impairment. Quarter Ended Six Months Ended September 30, September 30, (In thousands) 2016 2015 2016 2015 Number of vessels impaired during the period 42 19 54 33 Number of ROVs impaired during the period 8 — 8 — Amount of impairment incurred $ 129,562 31,672 166,448 46,630 Combined fair value of assets incurring impairment 322,550 107,445 477,950 154,300

STOCKHOLDERS' EQUITY (Tables)

STOCKHOLDERS' EQUITY (Tables)	6 Months Ended
	Sep. 30, 2016
Equity [Abstract]
Schedule of Dividends Declared	The Board of Directors declared the following dividends for the quarters and six-month periods ended September 30, 2016 and 2015: Quarter Ended Six Months Ended September 30, September 30, (In thousands, except dividend per share) 2016 2015 2016 2015 Dividends declared $ — 11,814 — 23,154 Dividend per share — 0.25 — 0.50
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 six month periods ended September 30, 2016 and 2015 are as follows: For the quarter ended September 30, 2016 For the six months ended September 30, 2016 Balance Gains/(losses) Reclasses Net Remaining Balance Gains/(losses) Reclasses Net Remaining at recognized from period balance at recognized from period balance (in thousands) 6/30/16 in OCI net income OCI 9/30/16 3/31/16 in OCI net income OCI 9/30/16 Available for sale securities (47 ) 79 40 119 72 (208 ) 138 142 280 72 Currency translation adjustment (9,811 ) — — — (9,811 ) (9,811 ) — — — (9,811 ) Pension/Post- retirement benefits 4,683 — — — 4,683 4,683 — — — 4,683 Interest rate swaps (1,459 ) — 72 72 (1,387 ) (1,530 ) — 143 143 (1,387 ) Total (6,634 ) 79 112 191 (6,443 ) (6,866 ) 138 285 423 (6,443 ) For the quarter ended September 30, 2015 For the six months ended September 30, 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) 6/30/15 in OCI net income OCI 9/30/15 3/31/15 in OCI net income OCI 9/30/15 Available for sale securities 183 (690 ) 63 (627 ) (444 ) 235 (804 ) 125 (679 ) (444 ) 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 (1,494 ) — 180 180 (1,314 ) (1,673 ) — 359 359 (1,314 ) Total (20,181 ) (690 ) 243 (447 ) (20,628 ) (20,378 ) (734 ) 484 (250 ) (20,628 )
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 six month periods ended September 30, 2016 and 2015: Quarter Ended Six Months Ended September 30, September 30 Affected line item in the (In thousands) 2016 2015 2016 2015 consolidated statements of income Realized gains on available for sale securities $ 40 97 142 192 Interest income and other, net Amortization of interest rate swap 72 277 143 552 Interest and other debt costs Total pre-tax amounts 112 374 285 744 Tax effect — 131 — 260 Total gains for the period, net of tax $ 112 243 285 484

INCOME TAXES (Tables)

INCOME TAXES (Tables)	6 Months Ended
	Sep. 30, 2016
Income Tax Disclosure [Abstract]
Schedule of Uncertain Tax Positions and Income Tax Payable	The company’s balance sheet at September 30, 2016 reflects the following in accordance with Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) 740, Income Taxes September 30, (In thousands) 2016 Tax liabilities for uncertain tax positions $ 14,189 Income tax payable 21,505
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 September 30, 2016, are as follows: September 30, (In thousands) 2016 Unrecognized tax benefit related to state tax issues $ 11,992 Interest receivable on unrecognized tax benefit related to state tax issues 44

EMPLOYEE BENEFIT PLANS (Tables)

EMPLOYEE BENEFIT PLANS (Tables)	6 Months Ended
	Sep. 30, 2016
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 September 30, 2016 and March 31, 2016: September 30, March 31, (In thousands) 2016 2016 Investments held in Rabbi Trust $ 8,896 8,811 Unrealized losses in fair value of trust assets 72 (208 ) Unrealized losses in fair value of trust assets are net of income tax expense of — (168 ) Obligations under the supplemental plan 25,739 25,072
Schedule of Net Periodic Benefit Cost	The net periodic benefit cost for the company’s defined benefit pension plans 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 Six Months Ended September 30, September 30, (In thousands) 2016 2015 2016 2015 Pension Benefits: Service cost $ 254 234 506 468 Interest cost 941 935 1,882 1,870 Expected return on plan assets (548 ) (530 ) (1,097 ) (1,060 ) Administrative expenses 2 — 4 — Amortization of prior service cost — 9 — 18 Recognized actuarial loss 446 567 892 1,134 Net periodic benefit cost $ 1,095 1,215 2,187 2,430 Other Benefits: Service cost $ 20 75 40 150 Interest cost 50 211 100 421 Amortization of prior service cost (1,086 ) (510 ) (2,172 ) (1,021 ) Recognized actuarial benefit (285 ) (245 ) (570 ) (489 ) Net periodic benefit cost $ (1,301 ) (469 ) (2,602 ) (939 )

INDEBTEDNESS (Tables)

INDEBTEDNESS (Tables)	6 Months Ended
	Sep. 30, 2016
Summary of Debt Outstanding	The following is a summary of debt outstanding at September 30, 2016 and March 31, 2016: September 30, March 31, (In thousands, except weighted average data) 2016 2016 Bank loan agreement: Term loan (A) $ 300,000 300,000 Fair value term loan outstanding (Level 2) 195,000 300,000 Revolving line of credit (A) (B) 600,000 600,000 Fair value revolving line of credit outstanding (Level 2) 390,000 600,000 September 2013 senior unsecured notes: Aggregate debt outstanding $ 500,000 500,000 Weighted average remaining life in years (C) 6.9 7.4 Weighted average coupon rate on notes outstanding 4.86 % 4.86 % Fair value of debt outstanding (Level 2) $ 325,000 342,746 August 2011 senior unsecured notes: Aggregate debt outstanding $ 165,000 165,000 Weighted average remaining life in years (C) 4.1 4.6 Weighted average coupon rate on notes outstanding 4.42 % 4.42 % Fair value of debt outstanding (Level 2) $ 107,250 127,148 September 2010 senior unsecured notes: Aggregate debt outstanding $ 382,500 382,500 Weighted average remaining life in years (C) 3.6 4.1 Weighted average coupon rate on notes outstanding 4.35 % 4.35 % Fair value of debt outstanding (Level 2) $ 248,625 302,832 May 2015 4.22% notes (D): Amount outstanding $ 28,727 30,033 Fair value of debt outstanding (Level 2) 27,484 30,062 March 2015 4.21% notes (D): Amount outstanding $ 25,802 27,030 Fair value of debt outstanding (Level 2) 24,652 27,027 (A) The fair value of the term loan and the revolving line of credit approximated their carrying values at March 31, 2016. (B) The revolver was fully utilized at September 30, 2016 and March 31, 2016, respectively. (C) Weighted average remaining life in years is based on stated maturities; however, all of the company’s indebtedness has been reclassified as current since March 31, 2016. (D) Troms Offshore debt requires semi-annual principal payments and has a 12 year maturity.
Debt Costs	The following is a summary of interest and debt costs incurred, net of interest capitalized, for the quarters and six-month periods ended September 30, 2016 and 2015: Quarter Ended Six Months Ended September 30, September 30, (In thousands) 2016 2015 2016 2015 Interest and debt costs incurred, net of interest capitalized $ 18,477 13,247 35,431 26,429 Interest costs capitalized 1,101 2,823 2,494 5,767 Total interest and debt costs $ 19,578 16,070 37,925 32,196
Norwegian Kroner (NOK) denominated borrowing
Summary of Debt Outstanding	The following is a summary of the Norwegian Kroner (NOK) denominated borrowings outstanding at September 30, 2016 and March 31, 2016, and their U.S. dollar equivalents: September 30, March 31, (In thousands) 2016 2016 January 2014 3.81% notes (A): NOK denominated 237,500 250,000 U.S. dollar equivalent $ 29,745 30,207 Fair value in U.S. dollar equivalent (Level 2) 28,460 30,199 May 2012 5.38% notes (A): NOK denominated 136,320 144,840 U.S. dollar equivalent $ 17,073 17,500 Fair value in U.S. dollar equivalent (Level 2) 16,408 17,479 (A) Troms Offshore debt requires semi-annual principal payments and has a 12 year maturity.

LOSS PER SHARE (Tables)

LOSS PER SHARE (Tables)	6 Months Ended
	Sep. 30, 2016
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 six-month periods ended September 30, 2016 and 2015 are as follows: Quarter Ended Six Months Ended September 30, September 30, (In thousands, except share and per share data) 2016 2015 2016 2015 Net loss available to common shareholders $ (178,490 ) (43,835 ) (267,587 ) (58,887 ) Weighted average outstanding shares of common stock, basic 47,067,864 46,942,950 47,067,790 46,962,242 Dilutive effect of options and restricted stock awards and units — — — — Weighted average common stock and equivalents 47,067,864 46,942,950 47,067,790 46,962,242 Loss per share, basic (A) $ (3.79 ) (0.93 ) (5.69 ) (1.25 ) Loss per share, diluted (B) $ (3.79 ) (0.93 ) (5.69 ) (1.25 ) Additional information: Antidilutive incremental options and restricted stock awards and units 525,161 317,518 508,989 306,727 (A) The company calculates “Loss per share, basic” by dividing “Net loss available to common shareholders” by “Weighted average outstanding shares 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)	6 Months Ended
	Sep. 30, 2016
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 September 30, 2016: Number Invested Remaining of Total Through Balance (In thousands, except vessel count) Vessels Cost 9/30/16 9/30/16 Vessels under construction (A): Deepwater PSVs 3 $ 163,657 115,683 47,974 Total vessel commitments (B) 3 $ 163,657 115,683 47,974 (A) (B) The company is entitled to receive a refund of prior shipyard payments totaling $14.3 million which would reduce the remaining balance of vessel commitments. See further discussion below.

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
	Sep. 30, 2016
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 September 30, 2016: Significant Significant Quoted prices in observable unobservable Measured at active markets inputs inputs Net Asset (In thousands) Total (Level 1) (Level 2) (Level 3) Value Equity securities: Common stock $ 3,631 3,631 — — — Foreign stock 133 133 — — — American depository receipts 1,345 1,345 — — — Preferred American depository receipts 18 18 — — — Real estate investment trusts 21 21 — — — Debt securities: Government debt securities 1,597 826 771 — — Open ended mutual funds 1,682 — — — 1,682 Cash and cash equivalents 394 53 326 — 15 Total $ 8,821 6,027 1,097 — 1,697 Other pending transactions 75 75 — — — Total fair value of plan assets $ 8,896 6,102 1,097 — 1,697 The following table provides the fair value hierarchy for the supplemental plan assets measured at fair value as of March 31, 2016: Significant Significant Quoted prices in observable unobservable Measured at active markets inputs inputs Net Asset (In thousands) Total (Level 1) (Level 2) (Level 3) Value Equity securities: Common stock $ 3,290 3,290 — — — Foreign stock 159 159 — — — American depository receipts 1,311 1,311 — — — Preferred American depository receipts 13 13 — — — Real estate investment trusts 61 61 — — — Debt securities: Government debt securities 1,711 972 739 — — Open ended mutual funds 1,663 — — — 1,663 Cash and cash equivalents 343 13 282 — 48 Total $ 8,551 5,819 1,021 — 1,711 Other pending transactions 260 291 (49 ) — 18 Total fair value of plan assets $ 8,811 6,110 972 — 1,729
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 September 30, 2016: Significant Significant Quoted prices in observable unobservable active markets inputs inputs (In thousands) Total (Level 1) (Level 2) (Level 3) Cash equivalents $ 631,138 631,138 — — Total fair value of assets $ 631,138 631,138 — — The following table provides the fair value hierarchy for the company’s other financial instruments measured as of March 31, 2016: Significant Significant Quoted prices in observable unobservable active markets inputs inputs (In thousands) Total (Level 1) (Level 2) (Level 3) Cash equivalents $ 643,770 643,770 — — Total fair value of assets $ 643,770 643,770 — —

OTHER CURRENT ASSETS, OTHER A32

OTHER CURRENT ASSETS, OTHER ASSETS, ACCRUED EXPENSES, OTHER CURRENT LIABILITIES AND OTHER LIABILITIES AND DEFERRED CREDITS (Tables)	6 Months Ended
	Sep. 30, 2016
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 September 30, 2016 and March 31, 2016 is as follows: September 30, March 31, (In thousands) 2016 2016 Deposits on vessel construction options (A) $ 13,474 30,285 Deposits - general 8,656 8,076 Prepaid expenses 9,744 6,394 Total other current assets $ 31,874 44,755 (A) Refer to Note (8) for additional discussion regarding the vessels under construction with option agreements.
Schedule Of Other Assets	A summary of other assets at September 30, 2016 and March 31, 2016 is as follows: September 30, March 31, (In thousands) 2016 2016 Recoverable insurance losses $ 11,144 9,412 Deferred income tax assets 46,868 33,505 Savings plans and supplemental plan 14,546 14,472 Other 17,409 14,297 Total other assets $ 89,967 71,686
Schedule of Accrued Expenses	A summary of accrued expenses at September 30, 2016 and March 31, 2016 is as follows: September 30, March 31, (In thousands) 2016 2016 Payroll and related payables $ 12,248 12,864 Commissions payable 3,722 7,193 Accrued vessel expenses 37,639 45,838 Accrued interest expense 15,231 15,120 Other accrued expenses 7,245 10,596 Total accrued expenses $ 76,085 91,611
Schedule of Other Current Liabilities	A summary of other current liabilities at September 30, 2016 and March 31, 2016 is as follows: September 30, March 31, (In thousands) 2016 2016 Taxes payable $ 35,299 45,854 Deferred gain on vessel sales - current 23,798 23,798 Other 1,248 5,173 Total other current liabilities $ 60,345 74,825
Schedule of Other Liabilities and Deferred Credits	A summary of other liabilities and deferred credits at September 30, 2016 and March 31, 2016 is as follows: September 30, March 31, (In thousands) 2016 2016 Postretirement benefits liability $ 1,872 4,755 Pension liabilities 39,106 41,690 Deferred gain on vessel sales 100,822 112,721 Other 22,730 22,380 Total other liabilities and deferred credits $ 164,530 181,546

SEGMENT AND GEOGRAPHIC DISTRI33

SEGMENT AND GEOGRAPHIC DISTRIBUTION OF OPERATIONS (Tables)	6 Months Ended
	Sep. 30, 2016
Segment Reporting [Abstract]
Segment Information, Geographical Data and Major Customers	At the beginning of fiscal 2017 the company’s operations in the Mediterranean Sea (based in Egypt) were transitioned from the company’s previously disclosed Middle East/North Africa operations and included with the company’s previously disclosed Sub-Saharan Africa/Europe operations as a result of management realignments. As such, the company now discloses these new segments as Middle East and Africa/Europe, respectively. The company’s Americas and Asia/Pacific segments are not affected by this change. This new segment alignment is consistent with how the company’s chief operating decision maker reviews operating results for the purposes of allocating resources and assessing performance. Fiscal 2016 amounts have been recast to conform to the new segment alignment. The following table provides a comparison of segment revenues, vessel operating profit (loss), depreciation and amortization, and additions to properties and equipment for the quarters and six-month periods ended September 30, 2016 and 2015. 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 Six Months Ended September 30, September 30, (In thousands) 2016 2015 2016 2015 Revenues: Vessel revenues: Americas $ 53,125 89,210 113,733 203,382 Asia/Pacific 6,110 32,173 14,031 60,110 Middle East 23,474 28,684 47,676 60,937 Africa/Europe 56,652 114,064 126,351 238,015 139,361 264,131 301,791 562,444 Other operating revenues 4,361 7,792 9,856 14,253 $ 143,722 271,923 311,647 576,697 Vessel operating profit (loss): Americas $ (1,177 ) 8,812 (5,503 ) 32,651 Asia/Pacific (6,096 ) 6,168 (11,670 ) 7,918 Middle East 925 244 892 4,248 Africa/Europe (14,072 ) 10,518 (27,381 ) 15,965 (20,420 ) 25,742 (43,662 ) 60,782 Other operating loss (1,012 ) (658 ) (1,439 ) (2,494 ) (21,432 ) 25,084 (45,101 ) 58,288 Corporate general and administrative expenses (10,006 ) (7,932 ) (20,499 ) (17,946 ) Corporate depreciation (597 ) (1,649 ) (1,327 ) (3,143 ) Corporate expenses (10,603 ) (9,581 ) (21,826 ) (21,089 ) Gain on asset dispositions, net 6,253 6,111 11,896 13,462 Asset impairments (A) (129,562 ) (31,672 ) (166,448 ) (46,630 ) Restructuring charge (B) — (7,586 ) — (7,586 ) Operating loss $ (155,344 ) (17,644 ) (221,479 ) (3,555 ) Foreign exchange gain (loss) (2,539 ) 844 (5,272 ) (3,289 ) Equity in net earnings (losses) of unconsolidated companies 1,313 (2,919 ) 1,312 (5,360 ) Interest income and other, net 992 355 2,168 1,145 Interest and other debt costs, net (18,477 ) (13,247 ) (35,431 ) (26,429 ) Loss before income taxes $ (174,055 ) (32,611 ) (258,702 ) (37,488 ) Depreciation and amortization: Americas $ 12,700 12,232 25,478 24,282 Asia/Pacific 5,538 5,311 11,320 10,700 Middle East 5,241 4,802 10,353 9,601 Africa/Europe 18,430 20,483 37,199 40,994 41,909 42,828 84,350 85,577 Other 1,339 1,502 2,720 2,916 Corporate 597 1,649 1,327 3,143 $ 43,845 45,979 88,397 91,636 Additions to properties and equipment: Americas $ — 20,000 75 42,054 Asia/Pacific — 1,075 — 1,710 Middle East 34 357 314 649 Africa/Europe 392 1,094 459 1,367 426 22,526 848 45,780 Other — 86 — 86 Corporate (C) 9,445 24,830 19,138 94,595 $ 9,871 47,442 19,986 140,461 (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 September 30, 2016 and March 31, 2016: September 30, March 31, (In thousands) 2016 2016 Total assets: Americas $ 1,060,391 1,101,699 Asia/Pacific 461,858 514,948 Middle East 436,583 405,420 Africa/Europe 1,797,674 1,999,543 3,756,506 4,021,610 Other 24,673 42,191 3,781,179 4,063,801 Investments in, at equity, and advances to unconsolidated companies 38,200 37,502 3,819,379 4,101,303 Corporate (A) (B) 868,883 882,490 $ 4,688,262 4,983,793 (A) At September 30, 2016 and March 31, 2016, $641.8 million and $651.2 million, respectively, of cash are included in Corporate. (B) 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 vessel is assigned to a non-corporate reporting segment or the date it is delivered. At September 30, 2016 and March 31, 2016, $115.7 million and $136.8 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 six-month periods ended September 30, 2016 and 2015: Quarter Ended Six Months Ended Revenue by vessel class September 30, September 30, (In thousands) 2016 % of Vessel Revenue 2015 % of Vessel Revenue 2016 % of Vessel Revenue 2015 % of Vessel Revenue Americas fleet: Deepwater $ 37,270 27 % 61,776 24 % 77,657 26 % 141,928 25 % Towing-supply 13,039 9 % 24,121 9 % 29,918 10 % 53,636 9 % Other 2,816 2 % 3,313 1 % 6,158 2 % 7,818 2 % Total $ 53,125 38 % 89,210 34 % 113,733 38 % 203,382 36 % Asia/Pacific fleet: Deepwater $ 1,872 1 % 23,435 9 % 4,462 2 % 43,268 8 % Towing-supply 4,238 3 % 8,738 3 % 9,569 3 % 16,842 3 % Other — — — — — — — — Total $ 6,110 4 % 32,173 12 % 14,031 5 % 60,110 11 % Middle East fleet: Deepwater $ 6,988 5 % 5,750 2 % 13,026 4 % 12,441 2 % Towing-supply 16,486 12 % 22,934 9 % 34,650 11 % 48,496 9 % Other — — — — — — — — Total $ 23,474 17 % 28,684 11 % 47,676 15 % 60,937 11 % Africa/Europe fleet: Deepwater $ 24,305 17 % 54,974 21 % 57,594 19 % 122,635 22 % Towing-supply 25,934 19 % 43,086 16 % 53,851 18 % 84,911 15 % Other 6,413 5 % 16,004 6 % 14,906 5 % 30,469 5 % Total $ 56,652 41 % 114,064 43 % 126,351 42 % 238,015 42 % Worldwide fleet: Deepwater $ 70,435 50 % 145,935 56 % 152,739 51 % 320,272 57 % Towing-supply 59,697 43 % 98,879 37 % 127,988 42 % 203,885 36 % Other 9,229 7 % 19,317 7 % 21,064 7 % 38,287 7 % Total $ 139,361 100 % 264,131 100 % 301,791 100 % 562,444 100 %

SALE_LEASEBACK ARRANGEMENTS (Ta

SALE/LEASEBACK ARRANGEMENTS (Tables)	6 Months Ended
	Sep. 30, 2016
Leases [Abstract]
Schedule of Future Minimum Lease Payments	As of September 30, 2016 the company operated 16 vessels under sale/leaseback arrangements of which nine are stacked. As of September 30, 2016, 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 six months of 2017 $ 4,743 10,439 15,182 2018 9,604 23,486 33,090 2019 10,234 24,800 35,034 2020 11,497 25,519 37,016 2021 11,594 19,979 31,573 Thereafter 19,273 20,063 39,336 Total future lease payments $ 66,945 124,286 191,231

RESTRUCTURING CHARGE (Tables)

RESTRUCTURING CHARGE (Tables)	6 Months Ended
	Sep. 30, 2016
Restructuring And Related Activities [Abstract]
Restructuring Charges Incurred by Segment and Cost Type	Restructuring charges incurred by segment and cost type for the quarters and six-month periods ended September 30, 2016 and 2015 are as follows: Quarter Ended Six Months Ended September 30, September 30, (In thousands) 2016 2015 2016 2015 Americas: Crew costs $ — 3,410 — 3,410 Other vessel costs — 203 — 203 Asia/Pacific: Crew costs — 3,973 — 3,973 Total restructuring charges $ — 7,586 — 7,586

ASSET IMPAIRMENTS (Tables)

ASSET IMPAIRMENTS (Tables)	6 Months Ended
	Sep. 30, 2016
Asset Impairment Charges [Abstract]
Summary of Combined Fair Value of Assets Incurred Impairments	The below table summarizes the combined fair value of the assets that incurred impairments during the quarters and six-month periods ended September 30, 2016 and 2015, along with the amount of impairment. Quarter Ended Six Months Ended September 30, September 30, (In thousands) 2016 2015 2016 2015 Number of vessels impaired during the period 42 19 54 33 Number of ROVs impaired during the period 8 — 8 — Amount of impairment incurred $ 129,562 31,672 166,448 46,630 Combined fair value of assets incurring impairment 322,550 107,445 477,950 154,300

Status of Discussions With Le37

Status of Discussions With Lenders and Noteholders / Audit Opinion - Additional Information (Detail)	Sep. 30, 2016	Jun. 30, 2016
Minimum
Status Of Discussions With Lenders And Noteholders Audit Opinion [Line Items]
Interest coverage ratio	300.00%	300.00%

Schedule of Dividends Declared

Schedule of Dividends Declared (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	6 Months Ended
	Sep. 30, 2015	Sep. 30, 2015
Stockholders Equity Note [Abstract]
Dividends declared	$ 11,814	$ 23,154
Dividend per share	$ 0.25	$ 0.50

Changes in Accumulated Other Co

Changes in Accumulated Other Comprehensive Income (Loss) by Component, Net of Tax (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income, beginning balance	$ (6,634)	$ (20,181)	$ (6,866)	$ (20,378)
Gains/(losses) recognized in OCI	79	(690)	138	(734)
Reclasses from OCI to net income	112	243	285	484
Net period OCI	191	(447)	423	(250)
Accumulated other comprehensive income, ending balance	(6,443)	(20,628)	(6,443)	(20,628)
Available for Sale Securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income, beginning balance	(47)	183	(208)	235
Gains/(losses) recognized in OCI	79	(690)	138	(804)
Reclasses from OCI to net income	40	63	142	125
Net period OCI	119	(627)	280	(679)
Accumulated other comprehensive income, ending balance	72	(444)	72	(444)
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	4,683	(9,059)	4,683	(9,129)
Gains/(losses) recognized in OCI				70
Net period OCI				70
Accumulated other comprehensive income, ending balance	4,683	(9,059)	4,683	(9,059)
Interest Rate Swaps
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income, beginning balance	(1,459)	(1,494)	(1,530)	(1,673)
Reclasses from OCI to net income	72	180	143	359
Net period OCI	72	180	143	359
Accumulated other comprehensive income, ending balance	$ (1,387)	$ (1,314)	$ (1,387)	$ (1,314)

Reclassifications from Accumula

Reclassifications from Accumulated Other Comprehensive Income (Loss) to Condensed Consolidated Statement of Income (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest income and other, net	$ 992	$ 355	$ 2,168	$ 1,145
Interest and other debt costs	18,477	13,247	35,431	26,429
Loss before income taxes	(174,055)	(32,611)	(258,702)	(37,488)
Tax effect	3,568	11,388	7,564	21,675
Net loss attributable to Tidewater Inc.	(178,490)	(43,835)	(267,587)	(58,887)
Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Loss before income taxes	112	374	285	744
Tax effect		131		260
Net loss attributable to Tidewater Inc.	112	243	285	484
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	40	97	142	192
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	$ 72	$ 277	$ 143	$ 552

Schedule of Uncertain Tax Posit

Schedule of Uncertain Tax Positions and Income Tax Payable (Detail) $ in Thousands	Sep. 30, 2016USD ($)
Income Tax Disclosure [Abstract]
Tax liabilities for uncertain tax positions	$ 14,189
Income tax payable	$ 21,505

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	6 Months Ended
	Sep. 30, 2016USD ($)
Income Tax Contingency [Line Items]
Unrecognized tax benefit related to state tax issues	$ 11,992
Interest receivable on unrecognized tax benefit related to state tax issues	$ 44

Employee Benefit Plans - Additi

Employee Benefit Plans - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Pension Plans, Defined Benefit
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, employer contributions	$ 3,000,000	$ 0	$ 3,000,000	$ 0
Expected contribution to the plan during the remaining quarters of fiscal 2017			0
Supplemental Executive Retirement Plan
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, employer contributions	100,000		100,000	$ 0
Supplemental Executive Retirement Plan | Maximum
Defined Benefit Plan Disclosure [Line Items]
Expected contribution to the plan during the remaining quarters of fiscal 2017			100,000
Postretirement Benefit Plan
Defined Benefit Plan Disclosure [Line Items]
Increase in net periodic benefit	$ 800,000		$ 1,700,000

Schedule of Carrying Value of T

Schedule of Carrying Value of Trust Assets, Including Unrealized Gains or Losses (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Mar. 31, 2016
Compensation And Retirement Disclosure [Abstract]
Investments held in Rabbi Trust	$ 8,896	$ 8,811
Unrealized losses in fair value of trust assets	72	(208)
Unrealized losses in fair value of trust assets are net of income tax expense of		(168)
Obligations under the supplemental plan	$ 25,739	$ 25,072

Schedule of Net Periodic Benefi

Schedule of Net Periodic Benefit Cost (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Pension Plan and Supplemental Plan
Net Period Benefit Cost Assumptions [Line Items]
Service cost	$ 254	$ 234	$ 506	$ 468
Interest cost	941	935	1,882	1,870
Expected return on plan assets	(548)	(530)	(1,097)	(1,060)
Administrative expenses	2		4
Amortization of prior service cost		9		18
Recognized actuarial (benefit) loss	446	567	892	1,134
Net periodic benefit cost	1,095	1,215	2,187	2,430
Other Benefits
Net Period Benefit Cost Assumptions [Line Items]
Service cost	20	75	40	150
Interest cost	50	211	100	421
Amortization of prior service cost	(1,086)	(510)	(2,172)	(1,021)
Recognized actuarial (benefit) loss	(285)	(245)	(570)	(489)
Net periodic benefit cost	$ (1,301)	$ (469)	$ (2,602)	$ (939)

Summary of Debt Outstanding (De

Summary of Debt Outstanding (Detail) - USD ($) $ in Thousands		6 Months Ended	12 Months Ended
		Sep. 30, 2016	Mar. 31, 2016
Revolving Line of Credit
Debt [Line Items]
Outstanding borrowing	[1],[2]	$ 600,000	$ 600,000
Fair value revolving line of credit outstanding (Level 2)		390,000	600,000
Term loan
Debt [Line Items]
Amount outstanding	[1]	300,000	300,000
Fair value term loan outstanding (Level 2)		195,000	300,000
September 2013 Senior Unsecured Notes
Debt [Line Items]
Fair value term loan outstanding (Level 2)		325,000	342,746
Aggregate debt outstanding		$ 500,000	$ 500,000
Weighted average remaining life in years	[3]	6 years 10 months 24 days	7 years 4 months 24 days
Weighted average coupon rate on notes outstanding		4.86%	4.86%
August 2011 Senior Unsecured Notes
Debt [Line Items]
Fair value term loan outstanding (Level 2)		$ 107,250	$ 127,148
Aggregate debt outstanding		$ 165,000	$ 165,000
Weighted average remaining life in years	[3]	4 years 1 month 6 days	4 years 7 months 6 days
Weighted average coupon rate on notes outstanding		4.42%	4.42%
September 2010 Senior Unsecured Notes
Debt [Line Items]
Fair value term loan outstanding (Level 2)		$ 248,625	$ 302,832
Aggregate debt outstanding		$ 382,500	$ 382,500
Weighted average remaining life in years	[3]	3 years 7 months 6 days	4 years 1 month 6 days
Weighted average coupon rate on notes outstanding		4.35%	4.35%
May 2015 4.22% Notes
Debt [Line Items]
Amount outstanding	[4]	$ 28,727	$ 30,033
Fair value term loan outstanding (Level 2)	[4]	27,484	30,062
March 2015 4.21% Notes
Debt [Line Items]
Amount outstanding	[4]	25,802	27,030
Fair value term loan outstanding (Level 2)	[4]	$ 24,652	$ 27,027
[1]	The fair value of the term loan and the revolving line of credit approximated their carrying values at March 31, 2016.
[2]	The revolver was fully utilized at September 30, 2016 and March 31, 2016, respectively.
[3]	Weighted average remaining life in years is based on stated maturities; however, all of the company’s indebtedness has been reclassified as current since March 31, 2016.
[4]	Troms Offshore debt requires semi-annual principal payments and has a 12 year maturity.

Summary of Debt Outstanding (Pa

Summary of Debt Outstanding (Parenthetical) (Detail)		6 Months Ended
		Sep. 30, 2016	Mar. 31, 2016
May 2015 4.22% Notes
Debt [Line Items]
Debt instrument interest rate	[1]	4.22%	4.22%
May 2015 4.22% Notes | Troms Offshore Supply AS
Debt [Line Items]
Debt instrument maturity, in years		12 years
March 2015 4.21% Notes
Debt [Line Items]
Debt instrument interest rate	[1]	4.21%	4.21%
March 2015 4.21% Notes | Troms Offshore Supply AS
Debt [Line Items]
Debt instrument maturity, in years		12 years
[1]	Troms Offshore debt requires semi-annual principal payments and has a 12 year maturity.

Indebtedness - Debt Costs - Add

Indebtedness - Debt Costs - Additional Information (Detail) - USD ($) $ in Millions	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016
Debt [Line Items]
Reduction of debt	$ 7.5		$ 6.8
Minimum
Debt [Line Items]
Interest coverage ratio	300.00%	300.00%

Summary of Norwegian Kroner (NO

Summary of Norwegian Kroner (NOK) Denominated Borrowings Outstanding (Detail) NOK in Thousands, $ in Thousands		Sep. 30, 2016USD ($)	Sep. 30, 2016NOK	Mar. 31, 2016USD ($)	Mar. 31, 2016NOK
January 2014 3.81% notes
Debt [Line Items]
Long-Term Debt Outstanding	[1]	$ 29,745	NOK 237,500	$ 30,207	NOK 250,000
Fair value of debt outstanding	[1]	28,460		30,199
May 2012 5.38% notes
Debt [Line Items]
Long-Term Debt Outstanding	[1]	17,073	NOK 136,320	17,500	NOK 144,840
Fair value of debt outstanding	[1]	$ 16,408		$ 17,479
[1]	Troms Offshore debt requires semi-annual principal payments and has a 12 year maturity.

Summary of Norwegian Kroner (50

Summary of Norwegian Kroner (NOK) Denominated Borrowings Outstanding (Parenthetical) (Detail)		6 Months Ended
		Sep. 30, 2016	Mar. 31, 2016
January 2014 3.81% notes
Debt [Line Items]
Debt Instrument Maturity Period	[1]	January 2,014
Debt instrument interest rate	[1]	3.81%	3.81%
January 2014 3.81% notes | Troms Offshore Supply AS
Debt [Line Items]
Debt instrument maturity, in years		12 years
May 2012 5.38% notes
Debt [Line Items]
Debt Instrument Maturity Period	[1]	May 2,012
Debt instrument interest rate	[1]	5.38%	5.38%
May 2012 5.38% notes | Troms Offshore Supply AS
Debt [Line Items]
Debt instrument maturity, in years		12 years
[1]	Troms Offshore debt requires semi-annual principal payments and has a 12 year maturity.

Debt Costs (Detail)

Debt Costs (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Debt Disclosure [Abstract]
Interest and debt costs incurred, net of interest capitalized	$ 18,477	$ 13,247	$ 35,431	$ 26,429
Interest costs capitalized	1,101	2,823	2,494	5,767
Total interest and debt costs	$ 19,578	$ 16,070	$ 37,925	$ 32,196

Components of Basic and Diluted

Components of Basic and Diluted Loss Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		6 Months Ended
		Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Earnings Per Share [Abstract]
Net loss available to common shareholders		$ (178,490)	$ (43,835)	$ (267,587)	$ (58,887)
Weighted average outstanding shares of common stock, basic		47,067,864	46,942,950	47,067,790	46,962,242
Weighted average common stock and equivalents		47,067,864	46,942,950	47,067,790	46,962,242
Loss per share, basic	[1]	$ (3.79)	$ (0.93)	$ (5.69)	$ (1.25)
Loss per share, diluted	[2]	$ (3.79)	$ (0.93)	$ (5.69)	$ (1.25)
Antidilutive incremental options and restricted stock awards and units		525,161	317,518	508,989	306,727
[1]	The company calculates “Loss per share, basic” by dividing “Net loss available to common shareholders” by “Weighted average outstanding shares 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”. As a result of the net losses incurred, the company has excluded the antidilutive effect of incremental share equivalents related to options, restricted stock awards and restricted stock units from the “Loss per share, diluted” calculation for the quarters and six month periods ended September 30, 2016 and 2015.

Schedule of Vessel Commitments

Schedule of Vessel Commitments (Detail) $ in Thousands		1 Months Ended	6 Months Ended
		May 31, 2015USD ($)Vessel	Sep. 30, 2016USD ($)Vessel
Vessel Commitments
Significant Purchase and Supply Commitment [Line Items]
Number of Vessels, commitments | Vessel	[1]		3
Total cost, commitments	[1]		$ 163,657
Invested, commitments	[1]		115,683
Remaining Balance, commitments	[1]		$ 47,974
Deepwater PSVs
Significant Purchase and Supply Commitment [Line Items]
Number of vessels under construction | Vessel		2	3	[2]
Total cost, under construction	[2]		$ 163,657
Invested, under construction		$ 5,400	115,683	[2]
Remaining Balance, under construction	[2]		$ 47,974
[1]	The company is entitled to receive a refund of prior shipyard payments totaling $14.3 million which would reduce the remaining balance of vessel commitments. See further discussion below.
[2]	Six additional option vessels and a fast supply boat are not included in the table above.

Schedule of Vessel Commitment54

Schedule of Vessel Commitments (Parenthetical) (Detail) $ in Millions	6 Months Ended
	Sep. 30, 2016USD ($)Vessel
Significant Purchase and Supply Commitment [Line Items]
Refunds from cancelled vessel construction contracts | $	$ 14.3
Option Agreement
Significant Purchase and Supply Commitment [Line Items]
Number of vessels under construction | Vessel	6

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) $ in Thousands		Mar. 31, 2016USD ($)	Oct. 31, 2016USD ($)	Jun. 30, 2015VesselThp	May 31, 2015USD ($)VesselT	Jun. 30, 2016USD ($)	Sep. 30, 2016USD ($)VesselThp		Sep. 30, 2015USD ($)	Mar. 31, 2017USD ($)	Mar. 31, 2016USD ($)
Significant Purchase and Supply Commitment [Line Items]
Refunds from cancelled vessel construction contracts							$ 11,515		$ 36,190
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
Vessel Commitments
Significant Purchase and Supply Commitment [Line Items]
Remaining Balance, commitments	[1]						$ 47,974
Number of Vessels, commitments | Vessel	[1]						3
Unfunded capital commitment, net of expected refunds							$ 33,700
Expected refunds from shipyards							$ 14,300
Deepwater PSVs
Significant Purchase and Supply Commitment [Line Items]
Significant commitment, new construction deadweight tons capacity range, low | T							4,700
Significant commitment, new construction deadweight tons capacity range, high | T							5,400
Number of vessels under construction | Vessel					2		3	[2]
Significant commitment, new construction deadweight tons capacity | T					3,800
Refunds from cancelled vessel construction contracts							$ 19,100
Impairment charge on amounts not recoverable						$ 1,900
Aggregate installment payment					$ 5,400		$ 115,683	[2]
Obligation to be relieved					21,700
Aggregate installment payment payment with interest					$ 11,900
Shipyard returned to the company						11,500
Shipyard owed amount						11,700
Foreign taxes on interest						200
Remaining installment obligation held						$ 250
Extended option period for vessels							Dec. 31, 2016
Deepwater PSVs | Subsequent Event
Significant Purchase and Supply Commitment [Line Items]
Net payment to company on vessel construction			$ 14,000
Vessels Under Construction
Significant Purchase and Supply Commitment [Line Items]
Number of vessels under construction | Vessel				6			6
Significant commitment, new construction brake horsepower | hp				7,145			7,145
Significant commitment, new construction deadweight tons capacity | T				4,700			4,700
Deferred final installment of vessel construction contracts		$ 5,100
Refunds from cancelled vessel construction contracts											$ 36,000
Obligation to pay additional amount due to termination											50,000
Accrued interest owing on the returned installments		$ 3,500									3,500
Impairment charge on amounts not recoverable											$ 800
Vessels Under Construction | Scenario Forecast
Significant Purchase and Supply Commitment [Line Items]
Refunds from cancelled vessel construction contracts										$ 26,000
Obligation to pay additional amount due to termination										35,000
Accrued interest owing on the returned installments										$ 3,800
Minimum | Deepwater PSVs
Significant Purchase and Supply Commitment [Line Items]
Significant commitment, new construction final delivery date							2017-02
Maximum | Deepwater PSVs
Significant Purchase and Supply Commitment [Line Items]
Significant commitment, new construction final delivery date							2017-06
[1]	The company is entitled to receive a refund of prior shipyard payments totaling $14.3 million which would reduce the remaining balance of vessel commitments. See further discussion below.
[2]	Six additional option vessels and a fast supply boat are not included in the table above.

Commitments and Contingencies56

Commitments and Contingencies (Sonatide Joint Venture) - Additional Information (Detail) $ in Thousands	1 Months Ended	3 Months Ended			6 Months Ended		12 Months Ended
	Nov. 30, 2013	Sep. 30, 2016USD ($)Vessel	Dec. 31, 2015USD ($)	Sep. 30, 2015USD ($)Vessel	Sep. 30, 2016USD ($)Vessel	Sep. 30, 2015USD ($)Vessel	Mar. 31, 2016USD ($)Vessel
Commitments and Contingencies Disclosure [Line Items]
Vessel revenues		$ 139,361		$ 264,131	$ 301,791	$ 562,444
Due from affiliate		300,757			300,757		$ 338,595
Investments in, at equity, and advances to unconsolidated companies		38,200			38,200		37,502
Due to affiliate		$ 175,925			$ 175,925		187,971
Sonatide joint venture
Commitments and Contingencies Disclosure [Line Items]
Definitive joint venture agreement term	2 years
Ownership Interest In Joint Venture		49.00%			49.00%
Agreement expiration date					2015-11
Foreign receipt, exposure to risk, description					If the company is unable to reach agreement on a new split billing 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 split billing arrangements entered into with customers prior to the expiration of the consortium agreement remain in force by way of addenda or extensions to the previously executed contracts.
Due from affiliate and due to affiliate					$ 37,000		84,000
Proceeds from dividends received			$ 15,000
Due from affiliate		$ 300,000			300,000		339,000
Unpaid vessel revenue		$ 95,000			$ 95,000
Number of vessels operating | Vessel		7			7
Number of vessels stacked | Vessel		3			3
Investments in, at equity, and advances to unconsolidated companies		$ 38,000			$ 38,000		37,000
Due to affiliate		176,000			$ 176,000		188,000
Additional percentage of surcharges on foreign exchange transactions					10.00%
Percentage of tax valued on all debit transactions					0.10%
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		$ 8,000			8,000
Sonatide joint venture | U.S. dollars initially received by Sonatide on behalf of the company or dollars collected from other customers
Commitments and Contingencies Disclosure [Line Items]
Proceeds from related party					63,000		122,000
Sonatide joint venture | Sonatide's converting kwanzas into dollars and subsequent payment to company
Commitments and Contingencies Disclosure [Line Items]
Proceeds from related party					$ 6,000		93,000
Sonatide joint venture | ANGOLA
Commitments and Contingencies Disclosure [Line Items]
Ownership percentage requirement of local vessel operators					100.00%
Proceeds from related party					$ 69,000		215,000
Vessel revenues					$ 71,400	$ 124,000	$ 213,000
Percentage of Angolan operation revenue					24.00%	22.00%
Number of vessels operating | Vessel		59		68	59	68
Number of vessels stacked | Vessel		17		11	17	11
Number of vessels transferred out of Angola | Vessel					17		23

Commitments and Contingencies57

Commitments and Contingencies (Brazilian Customs) - Additional Information (Detail) BRL in Millions, $ in Millions	1 Months Ended		6 Months Ended
	May 31, 2015BRL	Apr. 30, 2011BRLVessel	Sep. 30, 2016USD ($)	Sep. 30, 2016BRL
Commitments And Contingencies Disclosure [Abstract]
Fines assessed		BRL 155	$ 47.5
Number of Tidewater vessels that the subsidiaries failed to obtain import licenses from | Vessel		17
Fines assessed	BRL 3		1
Amount of fines contested			9.2	BRL 30
Remaining amount of fine resolved in entity favor			$ 37.4	122
Original fine amount | BRL				BRL 155

Commitment and Contingencies (R

Commitment and Contingencies (Repairs to U.S. Flagged Vessels Operating Abroad) - Additional Information (Detail)	6 Months Ended
	Sep. 30, 2016
Commitments And Contingencies Disclosure [Abstract]
Percentage of vessel repair duty	50.00%

Commitment and Contingencies (A

Commitment and Contingencies (Arbitral Award for the Taking of the Company's Venezuelan Operations) - Additional Information (Detail) - Compensatory Purposes - VENEZUELA - USD ($) $ in Millions	Mar. 13, 2015	Sep. 30, 2016
Commitments and Contingencies Disclosure [Line Items]
Compensation awarded to the subsidiaries		$ 67.1
Compensation awarded to the subsidiaries, annual compound interest rate	4.50%
Portion of compensation awarded to the subsidiaries		38.2
Remaining balance of compensation awarded to the subsidiaries		28.9
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		$ 18.2
Legal And Other Settlements
Commitments and Contingencies Disclosure [Line Items]
Compensation awarded to the subsidiaries	$ 2.5

Commitment and Contingencies (N

Commitment and Contingencies (Nigeria Marketing Agent Litigation) - Additional Information (Detail) - Federal Government of Nigeria £ in Millions, NGN in Millions, $ in Millions	1 Months Ended			4 Months Ended
	Jun. 30, 2016USD ($)	Jun. 30, 2016NGN	Jun. 30, 2016GBP (£)	Sep. 30, 2016USD ($)
Commitments and Contingencies Disclosure [Line Items]
Due to affiliates				$ 12
Loss contingency, damages awarded, value	$ 5.3	NGN 1.9	£ 0.3
Loss contingency damages awarded, aggregate value				$ 5.5

Schedule of Fair Value Assets a

Schedule of Fair Value Assets and Liabilities Measured on Recurring Basis (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Mar. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of plan assets	$ 8,896	$ 8,811
Supplemental Executive Retirement Plan
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	8,821	8,551
Other pending transactions	75	260
Total fair value of plan assets	8,896	8,811
Supplemental Executive Retirement Plan | Measured At Net Asset Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	1,697	1,711
Other pending transactions		18
Total fair value of plan assets	1,697	1,729
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	6,027	5,819
Other pending transactions	75	291
Total fair value of plan assets	6,102	6,110
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	1,097	1,021
Other pending transactions		(49)
Total fair value of plan assets	1,097	972
Supplemental Executive Retirement Plan | Common stock
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	3,631	3,290
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	3,631	3,290
Supplemental Executive Retirement Plan | Foreign Stock
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	133	159
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	133	159
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	1,345	1,311
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	1,345	1,311
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	18	13
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	18	13
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	21	61
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	21	61
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	1,597	1,711
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	826	972
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	771	739
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	1,682	1,663
Supplemental Executive Retirement Plan | Open Ended Mutual Funds | Measured At Net Asset Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	1,682	1,663
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	394	343
Supplemental Executive Retirement Plan | Cash and Cash Equivalents | Measured At Net Asset Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	15	48
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	53	13
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	$ 326	$ 282

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail)	6 Months Ended	12 Months Ended
	Sep. 30, 2016USD ($)Contract	Mar. 31, 2016USD ($)Contract
Derivatives, Fair Value [Line Items]
Cash equivalents maturity period, days	90 days
Number of contracts outstanding | Contract	1	2
Notional value of foreign exchange contract	$ 800,000	$ 1,400,000
Forward Contracts
Derivatives, Fair Value [Line Items]
Gain (loss) on Derivatives	100,000	100,000
Derivative assets	$ 0	$ 0

Schedule of Fair Value Other Fi

Schedule of Fair Value Other Financial Instruments Measured (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Mar. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets	$ 631,138	$ 643,770
Quoted Prices In Active Markets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets	631,138	643,770
Cash Equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets	631,138	643,770
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	$ 631,138	$ 643,770

Schedule of Other Current Asset

Schedule of Other Current Assets (Detail) - USD ($) $ in Thousands		Sep. 30, 2016	Mar. 31, 2016
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]	$ 13,474	$ 30,285
Deposits - general		8,656	8,076
Prepaid expenses		9,744	6,394
Total other current assets		$ 31,874	$ 44,755
[1]	Refer to Note (8) for additional discussion regarding the vessels under construction with option agreements.

Schedule of Other Assets (Detai

Schedule of Other Assets (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Mar. 31, 2016
Other Assets, Noncurrent [Abstract]
Recoverable insurance losses	$ 11,144	$ 9,412
Deferred income tax assets	46,868	33,505
Savings plans and supplemental plan	14,546	14,472
Other	17,409	14,297
Total other assets	$ 89,967	$ 71,686

Schedule of Accrued Expenses (D

Schedule of Accrued Expenses (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Mar. 31, 2016
Accounts Payable and Accrued Liabilities Current [Abstract]
Payroll and related payables	$ 12,248	$ 12,864
Commissions payable	3,722	7,193
Accrued vessel expenses	37,639	45,838
Accrued interest expense	15,231	15,120
Other accrued expenses	7,245	10,596
Total accrued expenses	$ 76,085	$ 91,611

Schedule of Other Current Liabi

Schedule of Other Current Liabilities (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Mar. 31, 2016
Other Liabilities Current [Abstract]
Taxes payable	$ 35,299	$ 45,854
Deferred gain on vessel sales - current	23,798	23,798
Other	1,248	5,173
Total other current liabilities	$ 60,345	$ 74,825

Schedule of Other Liabilities a

Schedule of Other Liabilities and Deferred Credits (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Mar. 31, 2016
Deferred Credits and Other Liabilities [Abstract]
Postretirement benefits liability	$ 1,872	$ 4,755
Pension liabilities	39,106	41,690
Deferred gain on vessel sales	100,822	112,721
Other	22,730	22,380
Total other liabilities and deferred credits	$ 164,530	$ 181,546

Segment Information, Geographic

Segment Information, Geographical Data and Major Customers (Detail) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Segment Reporting Information [Line Items]
Vessel revenues		$ 139,361	$ 264,131	$ 301,791	$ 562,444
Other operating revenues		4,361	7,792	9,856	14,253
Total revenues		143,722	271,923	311,647	576,697
Operating profit (loss)		(21,432)	25,084	(45,101)	58,288
General and administrative expenses		(32,954)	(37,286)	(70,001)	(81,239)
Depreciation and amortization		43,845	45,979	88,397	91,636
Corporate expenses		(10,603)	(9,581)	(21,826)	(21,089)
Gain on asset dispositions, net		6,253	6,111	11,896	13,462
Asset impairments	[1]	(129,562)	(31,672)	(166,448)	(46,630)
Restructuring charge	[2]		(7,586)		(7,586)
Operating loss		(155,344)	(17,644)	(221,479)	(3,555)
Foreign exchange gain (loss)		(2,539)	844	(5,272)	(3,289)
Equity in net earnings (losses) of unconsolidated companies		1,313	(2,919)	1,312	(5,360)
Interest income and other, net		992	355	2,168	1,145
Interest and other debt costs, net		(18,477)	(13,247)	(35,431)	(26,429)
Loss before income taxes		(174,055)	(32,611)	(258,702)	(37,488)
Additions to properties and equipment		9,871	47,442	19,986	140,461
All Other Segments
Segment Reporting Information [Line Items]
Operating profit (loss)		(1,012)	(658)	(1,439)	(2,494)
Depreciation and amortization		1,339	1,502	2,720	2,916
Additions to properties and equipment			86		86
Operating Segments
Segment Reporting Information [Line Items]
Operating profit (loss)		(20,420)	25,742	(43,662)	60,782
Depreciation and amortization		41,909	42,828	84,350	85,577
Additions to properties and equipment		426	22,526	848	45,780
Operating Segments | Americas
Segment Reporting Information [Line Items]
Vessel revenues		53,125	89,210	113,733	203,382
Operating profit (loss)		(1,177)	8,812	(5,503)	32,651
Depreciation and amortization		12,700	12,232	25,478	24,282
Additions to properties and equipment			20,000	75	42,054
Operating Segments | Asia/Pacific
Segment Reporting Information [Line Items]
Vessel revenues		6,110	32,173	14,031	60,110
Operating profit (loss)		(6,096)	6,168	(11,670)	7,918
Depreciation and amortization		5,538	5,311	11,320	10,700
Additions to properties and equipment			1,075		1,710
Operating Segments | Middle East
Segment Reporting Information [Line Items]
Vessel revenues		23,474	28,684	47,676	60,937
Operating profit (loss)		925	244	892	4,248
Depreciation and amortization		5,241	4,802	10,353	9,601
Additions to properties and equipment		34	357	314	649
Operating Segments | Africa/Europe
Segment Reporting Information [Line Items]
Vessel revenues		56,652	114,064	126,351	238,015
Operating profit (loss)		(14,072)	10,518	(27,381)	15,965
Depreciation and amortization		18,430	20,483	37,199	40,994
Additions to properties and equipment		392	1,094	459	1,367
Corporate
Segment Reporting Information [Line Items]
General and administrative expenses		(10,006)	(7,932)	(20,499)	(17,946)
Depreciation and amortization		597	1,649	1,327	3,143
Additions to properties and equipment	[3]	$ 9,445	$ 24,830	$ 19,138	$ 94,595
[1]	Refer to Note (15) for additional information regarding asset impairment charges.
[2]	Refer to Note (14) for additional information regarding the restructuring charge.
[3]	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		Sep. 30, 2016	Mar. 31, 2016
Segment and Geographic Distribution of Operations [Line Items]
Assets		$ 4,688,262	$ 4,983,793
Assets excluding equity investments		3,781,179	4,063,801
Investments in, at equity, and advances to unconsolidated companies		38,200	37,502
Assets except corporate portion		3,819,379	4,101,303
All Other Segments
Segment and Geographic Distribution of Operations [Line Items]
Assets		24,673	42,191
Operating Segments
Segment and Geographic Distribution of Operations [Line Items]
Assets		3,756,506	4,021,610
Operating Segments | Americas
Segment and Geographic Distribution of Operations [Line Items]
Assets		1,060,391	1,101,699
Operating Segments | Asia/Pacific
Segment and Geographic Distribution of Operations [Line Items]
Assets		461,858	514,948
Operating Segments | Middle East
Segment and Geographic Distribution of Operations [Line Items]
Assets		436,583	405,420
Operating Segments | Africa/Europe
Segment and Geographic Distribution of Operations [Line Items]
Assets		1,797,674	1,999,543
Corporate
Segment and Geographic Distribution of Operations [Line Items]
Assets	[1],[2]	$ 868,883	$ 882,490
[1]	At September 30, 2016 and March 31, 2016, $641.8 million and $651.2 million, respectively, of cash are included in Corporate.
[2]	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 vessel is assigned to a non-corporate reporting segment or the date it is delivered. At September 30, 2016 and March 31, 2016, $115.7 million and $136.8 million, respectively, of vessel construction costs are included in Corporate.

Comparison of Total Assets (Par

Comparison of Total Assets (Parenthetical) (Detail) - Corporate Vessels - USD ($) $ in Millions	6 Months Ended
	Sep. 30, 2016	Mar. 31, 2016
Segment and Geographic Distribution of Operations [Line Items]
Cash	$ 641.8	$ 651.2
Construction costs	$ 115.7	$ 136.8

Schedule of Segment Reporting I

Schedule of Segment Reporting Information, Revenue by Vessel Class (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues	$ 139,361	$ 264,131	$ 301,791	$ 562,444
Americas Fleet Deepwater vessels
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues	$ 37,270	$ 61,776	$ 77,657	$ 141,928
Percentage of revenue	27.00%	24.00%	26.00%	25.00%
Americas Fleet Towing-Supply/supply
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues	$ 13,039	$ 24,121	$ 29,918	$ 53,636
Percentage of revenue	9.00%	9.00%	10.00%	9.00%
Americas Fleet Other
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues	$ 2,816	$ 3,313	$ 6,158	$ 7,818
Percentage of revenue	2.00%	1.00%	2.00%	2.00%
Americas Fleet
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues	$ 53,125	$ 89,210	$ 113,733	$ 203,382
Percentage of revenue	38.00%	34.00%	38.00%	36.00%
Asia and Pacific Fleet Deepwater vessels
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues	$ 1,872	$ 23,435	$ 4,462	$ 43,268
Percentage of revenue	1.00%	9.00%	2.00%	8.00%
Asia/Pacific Fleet Towing-Supply/supply
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues	$ 4,238	$ 8,738	$ 9,569	$ 16,842
Percentage of revenue	3.00%	3.00%	3.00%	3.00%
Asia/Pacific Fleet
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues	$ 6,110	$ 32,173	$ 14,031	$ 60,110
Percentage of revenue	4.00%	12.00%	5.00%	11.00%
Middle East Fleet Deepwater vessels
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues	$ 6,988	$ 5,750	$ 13,026	$ 12,441
Percentage of revenue	5.00%	2.00%	4.00%	2.00%
Middle East Fleet Towing-Supply/supply
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues	$ 16,486	$ 22,934	$ 34,650	$ 48,496
Percentage of revenue	12.00%	9.00%	11.00%	9.00%
Middle East fleet
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues	$ 23,474	$ 28,684	$ 47,676	$ 60,937
Percentage of revenue	17.00%	11.00%	15.00%	11.00%
Africa/Europe Fleet Deepwater vessels
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues	$ 24,305	$ 54,974	$ 57,594	$ 122,635
Percentage of revenue	17.00%	21.00%	19.00%	22.00%
Africa/Europe Fleet Towing-Supply/supply
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues	$ 25,934	$ 43,086	$ 53,851	$ 84,911
Percentage of revenue	19.00%	16.00%	18.00%	15.00%
Africa And Europe Fleet Other
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues	$ 6,413	$ 16,004	$ 14,906	$ 30,469
Percentage of revenue	5.00%	6.00%	5.00%	5.00%
Africa/Europe Fleet
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues	$ 56,652	$ 114,064	$ 126,351	$ 238,015
Percentage of revenue	41.00%	43.00%	42.00%	42.00%
Worldwide Fleet Deepwater vessels
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues	$ 70,435	$ 145,935	$ 152,739	$ 320,272
Percentage of revenue	50.00%	56.00%	51.00%	57.00%
Worldwide Fleet Towing-Supply/supply
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues	$ 59,697	$ 98,879	$ 127,988	$ 203,885
Percentage of revenue	43.00%	37.00%	42.00%	36.00%
Worldwide Fleet Other
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues	$ 9,229	$ 19,317	$ 21,064	$ 38,287
Percentage of revenue	7.00%	7.00%	7.00%	7.00%
Worldwide Fleet
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues	$ 139,361	$ 264,131	$ 301,791	$ 562,444
Percentage of revenue	100.00%	100.00%	100.00%	100.00%

Sale_ Leaseback Arrangements -

Sale/ Leaseback Arrangements - Additional Information (Detail) $ in Millions	3 Months Ended	6 Months Ended
	Sep. 30, 2016USD ($)Vessel	Sep. 30, 2016USD ($)Vessel
Sale Leaseback Transaction [Line Items]
Deferred gains on sale/leaseback transactions | $	$ 5.9	$ 11.7
Sale/Leaseback Arrangement
Sale Leaseback Transaction [Line Items]
Number of vessels operating	16	16
Number of vessels stacked	9	9

Schedule of Future Minimum Leas

Schedule of Future Minimum Lease Payments (Detail) $ in Thousands	Sep. 30, 2016USD ($)
Sale Leaseback Transaction [Line Items]
Remaining six months of 2017	$ 15,182
2,018	33,090
2,019	35,034
2,020	37,016
2,021	31,573
Thereafter	39,336
Total future lease payments	191,231
Fiscal 2015 Sale/Leasebacks
Sale Leaseback Transaction [Line Items]
Remaining six months of 2017	4,743
2,018	9,604
2,019	10,234
2,020	11,497
2,021	11,594
Thereafter	19,273
Total future lease payments	66,945
Fiscal 2014 Sale/Leasebacks
Sale Leaseback Transaction [Line Items]
Remaining six months of 2017	10,439
2,018	23,486
2,019	24,800
2,020	25,519
2,021	19,979
Thereafter	20,063
Total future lease payments	$ 124,286

Restructuring Charge - Addition

Restructuring Charge - Additional Information (Detail) - USD ($) $ in Thousands		3 Months Ended	6 Months Ended
		Sep. 30, 2015	Sep. 30, 2015
Restructuring And Related Activities [Abstract]
Restructuring charge	[1]	$ 7,586	$ 7,586
[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	6 Months Ended
		Sep. 30, 2015	Sep. 30, 2015
Restructuring Cost And Reserve [Line Items]
Restructuring charges	[1]	$ 7,586	$ 7,586
Americas | Crew Costs
Restructuring Cost And Reserve [Line Items]
Restructuring charges		3,410	3,410
Americas | Other Vessel Costs
Restructuring Cost And Reserve [Line Items]
Restructuring charges		203	203
Asia/Pacific | Crew Costs
Restructuring Cost And Reserve [Line Items]
Restructuring charges		$ 3,973	$ 3,973
[1]	Refer to Note (14) for additional information regarding the restructuring charge.

Summary of Combined Fair Value

Summary of Combined Fair Value of Assets Incurred Impairments (Detail) $ in Thousands		3 Months Ended		6 Months Ended
		Sep. 30, 2016USD ($)VesselVehicle	Sep. 30, 2015USD ($)Vessel	Sep. 30, 2016USD ($)VesselVehicle	Sep. 30, 2015USD ($)Vessel
Asset Impairment Charges [Abstract]
Number of vessels impaired during the period | Vessel		42	19	54	33
Number of ROVs impaired during the period | Vehicle		8		8
Amount of impairment incurred	[1]	$ 129,562	$ 31,672	$ 166,448	$ 46,630
Combined fair value of assets incurring impairment		$ 322,550	$ 107,445	$ 477,950	$ 154,300
[1]	Refer to Note (15) for additional information regarding asset impairment charges.