Tidewater (TDW) 10-Q 8 Feb 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Dec. 31, 2016	Jan. 27, 2017
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Dec. 31, 2016
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Trading Symbol	TDW
Entity Registrant Name	TIDEWATER INC
Entity Central Index Key	98,222
Current Fiscal Year End Date	--03-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		47,068,450

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Dec. 31, 2016	Mar. 31, 2016
Current assets:
Cash and cash equivalents	$ 649,804	$ 678,438
Trade and other receivables, net	174,335	228,113
Due from affiliate	287,592	338,595
Marine operating supplies	30,720	33,413
Other current assets	22,053	44,755
Total current assets	1,164,504	1,323,314
Investments in, at equity, and advances to unconsolidated companies	42,516	37,502
Properties and equipment:
Vessels and related equipment	4,204,048	4,666,749
Other properties and equipment	77,880	92,065
Properties and equipment, gross	4,281,928	4,758,814
Less accumulated depreciation and amortization	1,272,521	1,207,523
Net properties and equipment	3,009,407	3,551,291
Other assets	98,772	71,686
Total assets	4,315,199	4,983,793
Current liabilities:
Accounts payable	50,754	49,130
Accrued expenses	67,412	91,611
Due to affiliate	132,836	187,971
Accrued property and liability losses	3,574	3,321
Current portion of long-term debt	2,036,060	2,045,516
Other current liabilities	50,274	74,825
Total current liabilities	2,340,910	2,452,374
Deferred income taxes	56,375	34,841
Accrued property and liability losses	11,113	9,478
Other liabilities and deferred credits	159,237	181,546
Commitments and Contingencies (Note 8)
Equity:
Common stock of $0.10 par value, 125,000,000 shares authorized, issued 47,068,450 shares at December 31, 2016 and 47,067,715 shares at March 31, 2016	4,707	4,707
Additional paid-in capital	171,018	166,604
Retained earnings	1,570,027	2,135,075
Accumulated other comprehensive loss	(6,446)	(6,866)
Total stockholders’ equity	1,739,306	2,299,520
Noncontrolling Interests	8,258	6,034
Total equity	1,747,564	2,305,554
Total liabilities and equity	$ 4,315,199	$ 4,983,793

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Dec. 31, 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	47,068,450	47,067,715

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS (LOSS) (Unaudited) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Revenues:
Vessel revenues		$ 125,120	$ 212,908	$ 426,911	$ 775,352
Other operating revenues		4,095	5,283	13,951	19,536
Total revenues		129,215	218,191	440,862	794,888
Costs and expenses:
Vessel operating costs		82,358	125,094	278,326	462,987
Costs of other operating revenues		2,714	3,778	10,040	15,624
General and administrative		34,151	35,598	104,152	116,837
Vessel operating leases		8,441	8,441	25,323	25,325
Depreciation and amortization		41,302	45,422	129,699	137,058
Gain on asset dispositions, net		(6,139)	(5,883)	(18,035)	(19,345)
Asset impairments	[1]	253,422	15,141	419,870	61,771
Restructuring charge	[2]				7,586
Total costs and expenses		416,249	227,591	949,375	807,843
Operating loss		(287,034)	(9,400)	(508,513)	(12,955)
Other income (expenses):
Foreign exchange gain (loss)		2,970	(469)	(2,302)	(3,758)
Equity in net earnings (losses) of unconsolidated companies		1,557	(1,710)	2,869	(7,070)
Interest income and other, net		1,437	609	3,605	1,754
Interest and other debt costs, net		(18,587)	(13,312)	(54,018)	(39,741)
Total other income (expenses)		(12,623)	(14,882)	(49,846)	(48,815)
Loss before income taxes		(299,657)	(24,282)	(558,359)	(61,770)
Income tax (benefit) expense		(2,884)	(4,679)	4,680	16,996
Net Loss		(296,773)	(19,603)	(563,039)	(78,766)
Less: Net income (loss) attributable to noncontrolling interests		903	(94)	2,224	(370)
Net loss attributable to Tidewater Inc.		$ (297,676)	$ (19,509)	$ (565,263)	$ (78,396)
Basic loss per common share	[3]	$ (6.32)	$ (0.42)	$ (12.01)	$ (1.67)
Diluted loss per common share	[4]	$ (6.32)	$ (0.42)	$ (12.01)	$ (1.67)
Weighted average common shares outstanding		47,068,079	46,943,705	47,067,887	46,956,041
Adjusted weighted average common shares		47,068,079	46,943,705	47,067,887	46,956,041
[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 nine month periods ended December 31, 2016 and 2015.

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Statement Of Income And Comprehensive Income [Abstract]
Net loss	$ (296,773)	$ (19,603)	$ (563,039)	$ (78,766)
Other comprehensive income (loss):
Unrealized gains (losses) on available for sale securities, net of tax of $0, $0, $0 and $0	(73)	212	207	(467)
Amortization of loss on derivative contract, net of tax of $0, $0, $0 and $0	70	180	213	538
Change in other benefit plan minimum liability, net of tax of $0, $0, $0 and $0				70
Total comprehensive loss	$ (296,776)	$ (19,211)	$ (562,619)	$ (78,625)

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 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		9 Months Ended
		Dec. 31, 2016	Dec. 31, 2015
Operating activities:
Net loss		$ (563,039)	$ (78,766)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization		129,699	137,058
Provision for deferred income taxes			192
Gain on asset dispositions, net		(18,035)	(19,345)
Asset impairments	[1]	419,870	61,771
Equity in earnings (losses) of unconsolidated companies, less dividends		(2,551)	22,087
Compensation expense - stock-based		4,166	9,960
Changes in assets and liabilities, net:
Trade and other receivables		53,778	38,726
Changes in due to/from affiliate, net		(4,132)	68,177
Marine operating supplies		2,693	9,786
Other current assets		(6,065)	1,711
Accounts payable		1,341	6,862
Accrued expenses		(27,954)	(51,068)
Accrued property and liability losses		253	(226)
Other current liabilities		(22,798)	(17,239)
Other liabilities and deferred credits		(4,541)	2,406
Other, net		(3,014)	(699)
Net cash provided by (used in) operating activities		(40,329)	191,393
Cash flows from investing activities:
Proceeds from sales of assets		12,333	8,218
Additions to properties and equipment		(17,144)	(152,225)
Refunds from cancelled vessel construction contracts		25,565	36,190
Net cash provided by (used in) investing activities		20,754	(107,817)
Cash flows from financing activities:
Principal payment on long-term debt		(7,337)	(109,163)
Debt borrowings			31,338
Cash dividends			(35,378)
Other		(1,722)	(961)
Net cash used in financing activities		(9,059)	(114,164)
Net change in cash and cash equivalents		(28,634)	(30,588)
Cash and cash equivalents at beginning of period		678,438	78,568
Cash and cash equivalents at end of period		649,804	47,980
Cash paid during the period for:
Interest, net of amounts capitalized		62,469	47,608
Income taxes		24,749	38,208
Supplemental disclosure of non-cash investing activities:
Additions to properties and equipment		$ 5,330	$ 146
[1]	Refer to Note (15) for additional information regarding asset impairment charges.

CONDENSED CONSOLIDATED STATEME8

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY (Unaudited) - USD ($)	Total	Common stock	Additional paid-in capital	Retained earnings	Accumulated other comprehensive loss	Non controlling interest
Balance at Mar. 31, 2015	$ 2,480,715,000	$ 4,703,000	$ 159,940,000	$ 2,330,223,000	$ (20,378,000)	$ 6,227,000
Total comprehensive loss	(78,625,000)			(78,396,000)	141,000	(370,000)
Stock option activity	609,000		609,000
Cash dividends declared	(34,965,000)			(34,965,000)
Amortization of restricted stock units	7,844,000	1,000	7,843,000
Amortization/cancellation of restricted stock awards/units	354,000	(7,000)	361,000
Balance at Dec. 31, 2015	2,375,932,000	4,697,000	168,753,000	2,216,862,000	(20,237,000)	5,857,000
Balance at Sep. 30, 2015					(20,628,000)
Total comprehensive loss	(19,211,000)
Cash dividends declared	(11,811,000)
Balance at Dec. 31, 2015	2,375,932,000	4,697,000	168,753,000	2,216,862,000	(20,237,000)	5,857,000
Balance at Mar. 31, 2016	2,305,554,000	4,707,000	166,604,000	2,135,075,000	(6,866,000)	6,034,000
Total comprehensive loss	(562,619,000)			(565,263,000)	420,000	2,224,000
Stock option activity	877,000		877,000
Cancellation of restricted stock awards	215,000			215,000
Cash dividends declared	0
Amortization/cancellation of restricted stock awards/units	3,537,000		3,537,000
Balance at Dec. 31, 2016	1,747,564,000	4,707,000	171,018,000	1,570,027,000	(6,446,000)	8,258,000
Balance at Sep. 30, 2016					(6,443,000)
Total comprehensive loss	(296,776,000)
Cash dividends declared	0
Balance at Dec. 31, 2016	$ 1,747,564,000	$ 4,707,000	$ 171,018,000	$ 1,570,027,000	$ (6,446,000)	$ 8,258,000

CONDENSED CONSOLIDATED STATEME9

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

INTERIM FINANCIAL STATEMENTS

INTERIM FINANCIAL STATEMENTS	9 Months Ended
	Dec. 31, 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	9 Months Ended
	Dec. 31, 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, September 30, 2016 and December 31, 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. The company continues to be actively engaged with its lenders and noteholders with respect to the potential restructuring of the company’s various debt arrangements. It is the goal of the company that any new debt arrangements would provide the company with both sufficient liquidity and a covenant package that will allow the company to operate its business under current market conditions and until those conditions improve without a material risk of a future default of its debt agreements. However, no assurance can be given that these restructuring negotiations will be successfully concluded. Moreover, under all three of the most likely scenarios - a restructuring of the company’s indebtedness outside of bankruptcy; a negotiated restructuring of the company’s indebtedness under the protection of Chapter 11 of the United States Bankruptcy Code; or a Chapter 11 reorganization in the absence of a negotiated restructuring - it is likely that the shareholders’ ownership interests will, at a minimum, be significantly diluted. In order for the company, its lenders and its noteholders to reach agreement on the terms of restructured debt arrangements, the company expects that it will have to provide collateral to secure some or all of the , reduce the overall level of its indebtedness to its lenders and noteholders, accept a reduction in total borrowing capacity, pay a higher rate of interest, and issue some form of equity or equity linked instruments to the lenders and noteholders that would substantially reduce the ownership interest of the shareholders. The company has previously reported that 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. The inability of the company to obtain a clean audit opinion was an independent event of default under the Bank Loan Agreement and the Troms Offshore Debt that, in the absence of a waiver, would have allowed the lenders to accelerate the indebtedness thereunder, the effect of which would have been to likewise cause all of the company’s Senior Notes to be in default. As previously reported, the company was able to obtain limited waivers from the necessary lenders which waived the unqualified audit opinion requirement and/or waived the minimum interest coverage ratio requirement until January 27, 2017. The most recent limited waiver, which took effect on January 27, 2017, The company’s unaudited condensed consolidated financial statements as of and for the quarter and nine months ended December 31, 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 issuance date of these consolidated financial statements.

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	9 Months Ended
	Dec. 31, 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 no dividends for the quarter and nine month period ended December 31, 2016. The Board of Directors declared the following dividends for the quarter and nine month period ended December 2015: Quarter Ended Nine Months Ended December 31, December 31, (In thousands, except dividend per share) 2015 2015 Dividends declared $ 11,811 34,965 Dividend per share 0.25 0.75 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 nine month periods ended December 31, 2016 and 2015 are as follows: For the quarter ended December 31, 2016 For the nine months ended December 31, 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) 9/30/16 in OCI net income OCI 12/31/16 3/31/16 in OCI net income OCI 12/31/16 Available for sale securities 72 (188 ) 115 (73 ) (1 ) (208 ) (50 ) 257 207 (1 ) 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 (1,387 ) — 70 70 (1,317 ) (1,530 ) — 213 213 (1,317 ) Total (6,443 ) (188 ) 185 (3 ) (6,446 ) (6,866 ) (50 ) 470 420 (6,446 ) For the quarter ended December 31, 2015 For the nine months ended December 31, 2015 Balance Gains/(losses) Reclasses Net Remaining Balance Gains/(losses) Reclasses Net Remaining at recognized from period balance at recognized from period balance (in thousands) 9/30/15 in OCI net income OCI 12/31/15 3/31/15 in OCI net income OCI 12/31/15 Available for sale securities (444 ) 235 (24 ) 211 (233 ) 235 (569 ) 101 (468 ) (233 ) Currency translation adjustment (9,811 ) — — — (9,811 ) (9,811 ) — — — (9,811 ) Pension/Post- retirement benefits (9,059 ) — — — (9,059 ) (9,129 ) 70 — 70 (9,059 ) Interest rate swaps (1,314 ) — 180 180 (1,134 ) (1,673 ) — 539 539 (1,134 ) Total (20,628 ) 235 156 391 (20,237 ) (20,378 ) (499 ) 640 141 (20,237 ) The following table summarizes the reclassifications from accumulated other comprehensive income (loss) to the condensed consolidated statement of income for the quarters and nine month periods ended December 31, 2016 and 2015: Quarter Ended Nine Months Ended December 31, December 31, Affected line item in the (In thousands) 2016 2015 2016 2015 consolidated statements of income Realized gains on available for sale securities $ 115 (37 ) 257 155 Interest income and other, net Amortization of interest rate swap 70 277 213 829 Interest and other debt costs Total pre-tax amounts 185 240 470 984 Tax effect — 84 — 344 Total gains for the period, net of tax $ 185 156 470 640

INCOME TAXES

INCOME TAXES	9 Months Ended
	Dec. 31, 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 nine-month periods ended December 31, 2016. Income tax expense for the three and nine month period ended December 31, 2016 is based on tax laws and rates applicable in the jurisdictions in which we operate and earn income. The relationship between our provision for or benefit from income taxes and our income or loss before income taxes can vary significantly from period to period considering among other factors, (a) the overall level of income before income taxes, (b) changes in the blend of income that is taxed based on gross revenues, deemed profits, or other bases utilized under local tax laws rather than income before taxes, (c) vessel movements between taxing jurisdictions and (d) our vessel operating structures. Income tax expense for the three and nine-month periods ended December 31, 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 December 31, 2016 reflects the following in accordance with Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) 740, Income Taxes December 31, (In thousands) 2016 Tax liabilities for uncertain tax positions $ 11,438 Income tax payable 12,903 The tax liabilities for uncertain tax positions are attributable to a foreign tax filing position and a permanent establishment issue related to a foreign joint venture. Penalties and interest related to income tax liabilities are included in income tax expense. Income tax payable is included in other current liabilities. Unrecognized tax benefits, which would lower the effective tax rate if realized at December 31, 2016, are as follows: December 31, (In thousands) 2016 Unrecognized tax benefit related to state tax issues $ 12,367 Interest receivable on unrecognized tax benefit related to state tax issues 46 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	9 Months Ended
	Dec. 31, 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. The pension plan is frozen and closed to new participants. This change did not affect benefits earned by participants prior to January 1, 2011. The company did not contribute to the pension plan during the quarter ended December 31, 2016, but contributed $3 million to the pension plan during the nine-month period ended December 31, 2016. The company currently does not expect to contribute to the pension plan during the remaining quarter of fiscal 2017. The company did not contribute to the pension plan during the nine-month period ended December 31, 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. The supplemental plan is 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 ended December 31, 2016 and approximately $0.2 million to the supplemental plan during the nine-month period ended December 31, 2016, and does not expect to contribute to the supplemental plan during the remaining quarter of fiscal 2017. The company did not contribute to the supplemental plan during the nine-month period ended December 31, 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 December 31, 2016 and March 31, 2016: December 31, March 31, (In thousands) 2016 2016 Investments held in Rabbi trust $ 8,697 8,811 Unrealized losses in fair value of trust assets (1 ) (208 ) Unrealized losses in fair value of trust assets are net of income tax expense of — (168 ) Obligations under the supplemental plan 26,043 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 $0.3 million and $1.9 million increase in net periodic postretirement benefit, which reduced pension expense, during the quarter and nine-month period ended December 31, 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 Nine Months Ended December 31, December 31, (In thousands) 2016 2015 2016 2015 Pension Benefits: Service cost $ 257 234 763 702 Interest cost 941 935 2,823 2,805 Expected return on plan assets (548 ) (530 ) (1,645 ) (1,590 ) Administrative expenses 2 — 6 — Amortization of prior service cost — 9 — 27 Recognized actuarial loss 446 567 1,338 1,701 Net periodic benefit cost $ 1,098 1,215 3,285 3,645 Other Benefits: Service cost $ 20 41 60 191 Interest cost 50 103 150 524 Amortization of prior service cost (1,086 ) (899 ) (3,258 ) (1,920 ) Recognized actuarial benefit (285 ) (281 ) (855 ) (770 ) Net periodic benefit cost $ (1,301 ) (1,036 ) (3,903 ) (1,975 )

INDEBTEDNESS

INDEBTEDNESS	9 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
INDEBTEDNESS	(6) INDEBTEDNESS The following is a summary of debt outstanding at December 31, 2016 and March 31, 2016: December 31, March 31, (In thousands) 2016 2016 Term loan $ 300,000 300,000 Revolving line of credit 600,000 600,000 September 2013 senior unsecured notes 500,000 500,000 August 2011 senior unsecured notes 165,000 165,000 September 2010 senior unsecured notes: 382,500 382,500 May 2015 4.22% notes 27,421 30,033 March 2015 4.21% notes 25,802 27,030 January 2014 3.81% notes 27,487 30,207 May 2012 5.38% notes 14,791 17,500 $ 2,043,001 2,052,270 Less: Deferred debt issue costs 6,941 6,754 Total debt $ 2,036,060 2,045,516 U.S. Dollar Denominated Debt The following table contains additional detail for U.S. dollar denominated borrowings outstanding at December 31, 2016 and March 31, 2016: December 31, 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) 165,000 300,000 Revolving line of credit (A) (B) 600,000 600,000 Fair value revolving line of credit outstanding (Level 2) 330,000 600,000 September 2013 senior unsecured notes: Aggregate debt outstanding $ 500,000 500,000 Weighted average remaining life in years (C) 6.6 7.4 Weighted average coupon rate on notes outstanding 4.86 % 4.86 % Fair value of debt outstanding (Level 2) $ 275,000 342,746 August 2011 senior unsecured notes: Aggregate debt outstanding $ 165,000 165,000 Weighted average remaining life in years (C) 3.8 4.6 Weighted average coupon rate on notes outstanding 4.42 % 4.42 % Fair value of debt outstanding (Level 2) $ 90,750 127,148 September 2010 senior unsecured notes: Aggregate debt outstanding $ 382,500 382,500 Weighted average remaining life in years (C) 3.3 4.1 Weighted average coupon rate on notes outstanding 4.35 % 4.35 % Fair value of debt outstanding (Level 2) $ 210,375 302,832 May 2015 4.22% notes (D): Amount outstanding $ 27,421 30,033 Fair value of debt outstanding (Level 2) 27,409 30,062 March 2015 4.21% notes (D): Amount outstanding $ 25,802 27,030 Fair value of debt outstanding (Level 2) 25,765 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 December 31, 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 December 31, 2016 the company was in compliance with the maximum 55% debt to capital ratio 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 table contains additional detail for Norwegian Kroner (NOK) denominated borrowings outstanding at December 31, 2016 and March 31, 2016, and their U.S. dollar equivalents: December 31, March 31, (In thousands) 2016 2016 January 2014 3.81% notes (A): NOK denominated 237,500 250,000 U.S. dollar equivalent $ 27,487 30,207 Fair value in U.S. dollar equivalent (Level 2) 27,442 30,199 May 2012 5.38% notes (A): NOK denominated 127,800 144,840 U.S. dollar equivalent $ 14,791 17,500 Fair value in U.S. dollar equivalent (Level 2) 14,767 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 nine-month periods ended December 31, 2016 and 2015: Quarter Ended Nine Months Ended December 31, December 31, (In thousands) 2016 2015 2016 2015 Interest and debt costs incurred, net of interest capitalized $ 18,587 13,312 54,018 39,741 Interest costs capitalized 1,118 2,513 3,612 8,280 Total interest and debt costs $ 19,705 15,825 57,630 48,021 During the first quarter of fiscal 2017, the company adopted ASU 2015-03, Interest-Imputation of Interest: Simplifying the Presentation of Debt Issue Costs

LOSS PER SHARE

LOSS PER SHARE	9 Months Ended
	Dec. 31, 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 nine-month periods ended December 31, 2016 and 2015 are as follows: Quarter Ended Nine Months Ended December 31, December 31, (In thousands, except share and per share data) 2016 2015 2016 2015 Net loss available to common shareholders $ (297,676 ) (19,509 ) (565,263 ) (78,396 ) Weighted average outstanding shares of common stock, basic 47,068,079 46,943,705 47,067,887 46,956,041 Dilutive effect of options and restricted stock awards and units — — — — Weighted average common stock and equivalents 47,068,079 46,943,705 47,067,887 46,956,041 Loss per share, basic (A) $ (6.32 ) (0.42 ) (12.01 ) (1.67 ) Loss per share, diluted (B) $ (6.32 ) (0.42 ) (12.01 ) (1.67 ) Additional information: Antidilutive incremental options and restricted stock awards and units 193,238 455,663 338,039 385,073 (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	9 Months Ended
	Dec. 31, 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 December 31, 2016: Number Invested Remaining of Total Through Balance (In thousands, except vessel count) Vessels Cost 12/31/16 12/31/16 Vessels under construction (A): Deepwater PSVs 3 $ 164,279 117,624 46,655 Total vessel commitments 3 $ 164,279 117,624 46,655 (A) The two remaining option vessels and a fast supply boat are not included in the table above. The company has approximately $46.7 million in unfunded capital commitments associated with the three vessels under construction at December 31, 2016. The total cost of the three new-build vessels includes contract costs and other incidental costs. At December 31, 2016, three deepwater platform supply vessels (PSVs), each with approximately 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 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 in November 2016 the shipyard returned to the company the remaining $14 million in installments on these four PSVs. 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) received cash from the shipyard of approximately $26 million, (x) terminated its obligation to make any additional payments of approximately $35 million, (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, and (z) recognized a gain of $0.8 million during the quarter ended December 31, 2016 related to the final refunds received from the shipyard. The company anticipates that there will be no further payments, credits or charges under the settlement agreements. In May 2015, the company entered into a settlement agreement with another 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. In December 2016, the shipyard returned to the company $0.2 million and the shipyard was permitted to hold the remaining $0.05 million of installments and extend the option period for both vessels until June 30, 2017. These two vessels are not included in the preceding table of vessel commitments as of December 31, 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 December 31, 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 The company has previously disclosed the significant financial and operational challenges that it confronts with respect to its substantial operations in Angola, as well as steps that the company has taken to address or mitigate those risks. Most of the company’s attention has been focused in three areas: reducing the net receivable balance due the company from Sonatide, its Angolan joint venture with Sonangol, for vessel services; reducing the foreign currency risk created by virtue of provisions of Angolan law that require that payment for a significant portion of the services provided by Sonatide be paid in Angolan kwanza; and optimizing opportunities, consistent with Angolan law, for services provided by the company be paid for directly in U.S. dollars. These challenges, and the company’s efforts to respond, continue. Amounts due from Sonatide (Due from affiliate in the consolidated balance sheets) at December 31, 2016 and March 31, 2016 of approximately $288 million and $339 million, respectively, represent 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. Approximately $112 million of the balance at December 31, 2016 represents 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 (i) approximately $86 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 and (ii) approximately $133 million of amounts due from the company to Sonatide. For the nine months ended December 31, 2016, the company collected (primarily through Sonatide) approximately $80 million from its Angolan operations. Of the $80 million collected, approximately $73 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 $7 million collected reflects Sonatide’s conversion of Angolan kwanza into U.S. dollars and the subsequent expatriation of the dollars and payment to the company. The company also reduced the net due from affiliate and due to affiliate balances by approximately $69 million during the nine months ended December 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. For the nine months ended December 31, 2016, the company’s Angolan operations generated vessel revenues of approximately $101 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 (19 of which were stacked on average during the nine months ended December 31, 2016), and, for the nine months ended December 31, 2015, generated vessel revenues of approximately $172 million, or 22%, of consolidated vessel revenue, from an average of approximately 66 company-owned vessels (eight of which were stacked on average during the nine months ended December 31, 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). As of December 31, 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 $43 million and $37 million, respectively. 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 imposed a 0.1% tax on the value of all debit transactions from customer’s accounts. The new tax was imposed on Sonatide’s banking transactions. The decree that imposed the 0.1% tax was revoked effective January 1, 2017, and is no longer imposed on Sonatide’s banking transactions. 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 nine months ended December 31 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 December 31, 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 December 31, 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. In addition, the company will likely have to deposit up to $3 million reais with the court in connection with the appeal. Fines totaling 30 million Brazilian reais (approximately $9.2 million as of December 31, 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 December 31, 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 December 27, 2016, the annulment committee formed under the rules of the World Bank’s International Centre for Settlement of Investment Disputes (“ICSID”) issued a decision on the Bolivarian Republic of Venezuela’s (“Venezuela”) application to annul the award rendered by an ICSID tribunal on March 13, 2015. As previously reported, the award granted two subsidiaries of the Company (the “Claimants”) compensation for Venezuela’s expropriation of their investments in that country. The nature of the investments expropriated and the progress of the ICSID proceeding were previously reported by the company in prior filings. The annulment committee’s decision reduced the total compensation awarded to the Claimants to $36.4 million. 4.5% compounded quarterly ($14.8 million as of December 31, 2016). $2.5 million $53.7 million as of December 31, 2016. 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 in March 2015 as a final judgment by the United States District Court for the Southern District of New York. In addition, the company was successful in having the award recognized and entered in November 2016 as a final judgment of the High Court of Justice of England and Wales. Even with the recognition of the award in the United States and United Kingdom courts, the company recognizes that collection of the award may present significant practical challenges. The company is accounting for this matter as a gain contingency, and will record any such gain in future periods if and when the contingency is resolved, in accordance with ASC 450 Contingencies 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 subsequently 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 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. The substance of these disputes have been disclosed in prior filings. 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. 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 damages and legal costs against Phoenix Tide’s two principals for their tortious interference. Subsequent to the close of quarter ending December 31, 2016, on January 26, 2017, the company, Phoenix Tide and its surviving principal, Olutokunbo Afolabi Kuforiji, filed a signed settlement agreement with the Nigerian Appeals Court that is intended to resolve all legal disputes and provides for payment by various affiliates of TOTAL to the company of approximately $12 million (inclusive of U.S. dollar and Naira denominations). The Nigerian Appeals Court has approved the settlement agreement and the TOTAL affiliates have consented to the payment terms provided therein. 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	9 Months Ended
	Dec. 31, 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 December 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: $ 5,164 5,164 — — — Debt securities: 3,207 860 725 — 1,622 Cash and cash equivalents 367 55 257 — 55 Total $ 8,738 6,079 982 — 1,677 Other pending transactions (40 ) (40 ) — — — Total fair value of plan assets $ 8,698 6,039 982 — 1,677 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: $ 4,834 4,834 — — — Debt securities: 3,374 972 739 — 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 no outstanding spot contracts at December 31, 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 counterparties in calculating the ultimate fair values using the market approach and obtaining broker quotations. As such, these derivative contracts are classified as Level 2. At December 31, 2016, the company had no remaining forward contracts outstanding. The combined change in fair value of the Norwegian kroner (NOK) forward contracts settled during the nine months ended December 31, 2016 was $0.7 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 settled forward contracts 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 December 31, 2016: Significant Significant Quoted prices in observable unobservable active markets inputs inputs (In thousands) Total (Level 1) (Level 2) (Level 3) Cash equivalents $ 612,768 612,768 — — Total fair value of assets $ 612,768 612,768 — — 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	9 Months Ended
	Dec. 31, 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 December 31, 2016 and March 31, 2016 is as follows: December 31, March 31, (In thousands) 2016 2016 Deposits on vessel construction options (A) $ 50 30,285 Deposits - general 12,670 8,076 Prepaid expenses 9,333 6,394 Total other current assets $ 22,053 44,755 (A) Refer to Note (8) for additional discussion regarding the vessels under construction with option agreements. A summary of other assets at December 31, 2016 and March 31, 2016 is as follows: December 31, March 31, (In thousands) 2016 2016 Recoverable insurance losses $ 11,047 9,412 Deferred income tax assets 55,039 33,505 Savings plans and supplemental plan 14,452 14,472 Other 18,234 14,297 Total other assets $ 98,772 71,686 A summary of accrued expenses at December 31, 2016 and March 31, 2016 is as follows: December 31, March 31, (In thousands) 2016 2016 Payroll and related payables $ 11,301 12,864 Commissions payable 4,140 7,193 Accrued vessel expenses 37,849 45,838 Accrued interest expense 4,902 15,120 Other accrued expenses 9,220 10,596 Total accrued expenses $ 67,412 91,611 A summary of other current liabilities at December 31, 2016 and March 31, 2016 is as follows: December 31, March 31, (In thousands) 2016 2016 Taxes payable $ 24,968 45,854 Deferred gain on vessel sales - current 23,798 23,798 Other 1,508 5,173 Total other current liabilities $ 50,274 74,825 A summary of other liabilities and deferred credits at December 31, 2016 and March 31, 2016 is as follows: December 31, March 31, (In thousands) 2016 2016 Postretirement benefits liability $ 311 4,755 Pension liabilities 40,289 41,690 Deferred gain on vessel sales 94,873 112,721 Other 23,764 22,380 Total other liabilities and deferred credits $ 159,237 181,546

ACCOUNTING PRONOUNCEMENTS

ACCOUNTING PRONOUNCEMENTS	9 Months Ended
	Dec. 31, 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	9 Months Ended
	Dec. 31, 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 the company’s chief operating decision maker’s review of 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 nine-month periods ended December 31, 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 Nine Months Ended December 31, December 31, (In thousands) 2016 2015 2016 2015 Revenues: Vessel revenues: Americas $ 45,577 75,963 159,310 279,345 Asia/Pacific 5,586 19,144 19,617 79,254 Middle East 20,647 26,256 68,323 87,193 Africa/Europe 53,310 91,545 179,661 329,560 125,120 212,908 426,911 775,352 Other operating revenues 4,095 5,283 13,951 19,536 $ 129,215 218,191 440,862 794,888 Vessel operating profit (loss): Americas $ (6,242 ) 9,289 (11,745 ) 41,940 Asia/Pacific (5,586 ) (3,796 ) (17,256 ) 4,122 Middle East (2,782 ) 650 (1,890 ) 4,898 Africa/Europe (11,559 ) 3,120 (38,940 ) 19,085 (26,169 ) 9,263 (69,831 ) 70,045 Other operating profit (loss) 116 (626 ) (1,323 ) (3,120 ) (26,053 ) 8,637 (71,154 ) 66,925 Corporate general and administrative expenses (13,133 ) (7,150 ) (33,632 ) (25,096 ) Corporate depreciation (565 ) (1,629 ) (1,892 ) (4,772 ) Corporate expenses (13,698 ) (8,779 ) (35,524 ) (29,868 ) Gain on asset dispositions, net 6,139 5,883 18,035 19,345 Asset impairments (A) (253,422 ) (15,141 ) (419,870 ) (61,771 ) Restructuring charge (B) — — — (7,586 ) Operating loss $ (287,034 ) (9,400 ) (508,513 ) (12,955 ) Foreign exchange gain (loss) 2,970 (469 ) (2,302 ) (3,758 ) Equity in net earnings (losses) of unconsolidated companies 1,557 (1,710 ) 2,869 (7,070 ) Interest income and other, net 1,437 609 3,605 1,754 Interest and other debt costs, net (18,587 ) (13,312 ) (54,018 ) (39,741 ) Loss before income taxes $ (299,657 ) (24,282 ) (558,359 ) (61,770 ) Depreciation and amortization: Americas $ 12,039 12,029 37,517 36,311 Asia/Pacific 5,266 5,803 16,586 16,503 Middle East 5,411 4,780 15,764 14,381 Africa/Europe 17,166 19,812 54,365 60,806 39,882 42,424 124,232 128,001 Other 855 1,369 3,575 4,285 Corporate 565 1,629 1,892 4,772 $ 41,302 45,422 129,699 137,058 Additions to properties and equipment: Americas $ 18 2,064 93 44,118 Asia/Pacific — 360 — 2,069 Middle East 273 127 587 776 Africa/Europe 190 460 649 1,827 481 3,011 1,329 48,790 Other — 26 — 113 Corporate (C) 2,008 8,872 21,145 103,467 $ 2,489 11,909 22,474 152,370 (A) Refer to Note (15) for additional information regarding asset impairment charges. (B) Refer to Note (14) for additional information regarding the restructuring charge. (C) Included in Corporate are additions to properties and equipment relating to vessels currently under construction which have not yet been assigned to a non-corporate reporting segment as of the dates presented . The following table provides a comparison of total assets at December 31, 2016 and March 31, 2016: December 31, March 31, (In thousands) 2016 2016 Total assets: Americas $ 832,628 1,101,699 Asia/Pacific 346,385 514,948 Middle East 284,767 405,420 Africa/Europe 1,965,423 1,999,543 3,429,203 4,021,610 Other 23,120 42,191 3,452,323 4,063,801 Investments in, at equity, and advances to unconsolidated companies 42,516 37,502 3,494,839 4,101,303 Corporate (A) (B) 820,360 882,490 $ 4,315,199 4,983,793 (A) At December 31, 2016 and March 31, 2016, $610.7 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 December 31, 2016 and March 31, 2016, $94.6 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 nine-month periods ended December 31, 2016 and 2015: Quarter Ended Nine Months Ended Revenue by vessel class December 31, December 31, (In thousands) 2016 % of Vessel Revenue 2015 % of Vessel Revenue 2016 % of Vessel Revenue 2015 % of Vessel Revenue Americas fleet: Deepwater $ 30,846 25 % 49,792 23 % 108,503 25 % 191,720 25 % Towing-supply 11,905 9 % 22,254 11 % 41,823 10 % 75,890 10 % Other 2,826 2 % 3,917 2 % 8,984 2 % 11,735 1 % Total $ 45,577 36 % 75,963 36 % 159,310 37 % 279,345 36 % Asia/Pacific fleet: Deepwater $ 1,652 1 % 13,267 6 % 6,114 2 % 56,535 7 % Towing-supply 3,934 3 % 5,877 3 % 13,503 3 % 22,719 3 % Other — — — — — — — — Total $ 5,586 4 % 19,144 9 % 19,617 5 % 79,254 10 % Middle East fleet: Deepwater $ 6,953 6 % 5,359 3 % 19,979 5 % 17,800 2 % Towing-supply 13,694 11 % 20,897 9 % 48,344 11 % 69,393 9 % Other — — — — — — — — Total $ 20,647 17 % 26,256 12 % 68,323 16 % 87,193 11 % Africa/Europe fleet: Deepwater $ 21,748 17 % 42,692 20 % 79,342 18 % 165,327 22 % Towing-supply 26,087 21 % 36,084 17 % 79,938 19 % 120,995 15 % Other 5,475 5 % 12,769 6 % 20,381 5 % 43,238 6 % Total $ 53,310 43 % 91,545 43 % 179,661 42 % 329,560 43 % Worldwide fleet: Deepwater $ 61,199 49 % 111,110 52 % 213,938 50 % 431,382 56 % Towing-supply 55,620 44 % 85,112 40 % 183,608 43 % 288,997 37 % Other 8,301 7 % 16,686 8 % 29,365 7 % 54,973 7 % Total $ 125,120 100 % 212,908 100 % 426,911 100 % 775,352 100 %

SALE_LEASEBACK ARRANGEMENTS

SALE/LEASEBACK ARRANGEMENTS	9 Months Ended
	Dec. 31, 2016
Leases [Abstract]
SALE/LEASEBACK ARRANGEMENTS	(13) SALE/LEASEBACK ARRANGEMENTS As of December 31, 2016 the company operated 16 vessels under sale/leaseback arrangements of which ten are stacked. As of December 31, 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 three months of 2017 $ 2,371 5,220 7,591 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 $ 64,573 119,067 183,640 Included in gain on asset dispositions, net for the quarter and nine months ended December 31, 2016, respectively, were $5.8 million and $17.5 million of deferred gain amortization from sale leaseback transactions.

RESTRUCTURING CHARGE

RESTRUCTURING CHARGE	9 Months Ended
	Dec. 31, 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 nine-month periods ended December 31, 2016 and 2015 are as follows: Quarter Ended Nine Months Ended December 31, December 31, (In thousands) 2016 2015 2016 2015 Americas: Crew costs $ — — — 3,410 Other vessel costs — — — 203 Asia/Pacific: Crew costs — — — 3,973 Total restructuring charges $ — — — 7,586

ASSET IMPAIRMENTS

ASSET IMPAIRMENTS	9 Months Ended
	Dec. 31, 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 company reviews the vessels in its active fleet for impairment whenever events occur or changes in circumstances indicate that the carrying amount of an asset group may not be recoverable. In such evaluation, the estimated future undiscounted cash flows generated by an asset group are compared with the carrying amount of the asset group to determine if a write-down may be required. If an asset group fails the undiscounted cash flow test, the company estimates the fair value of each asset group and compares such estimated fair value, considered Level 3, as defined by ASC 820, Fair Value Measurements and Disclosures, to the carrying value of each asset group in order to determine if impairment exists. Similar to stacked vessels, management obtains estimates of the fair values of the active vessels from third party appraisers or brokers for use in determining fair value estimates. During the quarter ended December 31, 2016, the company recognized $84.1 million of impairments to the stacked vessel fleet . During the quarter ended December 31, 2016 the company completed a review of the carrying values of vessels in the active fleet and recognized of $169.3 million of impairments . The number of vessels in the active fleet that were impaired during the quarter ended December 31, 2016 was 48 vessels. The fair value of vessels in the active fleet incurring impairment during the quarter was $303.6 million at December 31, 2016 (after having recorded impairment charges). Excluding leased vessels, a total of 92 vessels in the active fleet, representing $1.6 billion of net book value at December 31, 2016, were not impaired during the quarter. The total carrying value of 246 vessels (excluding leased vessels) in the stacked and active fleets at December 31, 2016 of $2.9 billion does not necessarily reflect the realizable value of such vessels if such vessels were disposed of on any expedited basis. The table below summarizes the combined fair value of the assets that incurred impairments during the quarters and nine-month periods ended December 31, 2016 and 2015, along with the amount of impairment. Quarter Ended Nine Months Ended December 31, December 31, (In thousands) 2016 2015 2016 2015 Number of vessels impaired during the period 74 14 115 47 Number of ROVs impaired during the period — — 8 — Amount of impairment incurred $ 253,422 15,141 419,870 61,771 Combined fair value of assets incurring impairment 523,495 90,010 813,851 244,310

STOCKHOLDERS' EQUITY (Tables)

STOCKHOLDERS' EQUITY (Tables)	9 Months Ended
	Dec. 31, 2016
Equity [Abstract]
Schedule of Dividends Declared	The Board of Directors declared the following dividends for the quarter and nine month period ended December 2015: Quarter Ended Nine Months Ended December 31, December 31, (In thousands, except dividend per share) 2015 2015 Dividends declared $ 11,811 34,965 Dividend per share 0.25 0.75
Changes in Accumulated Other Comprehensive Income (Loss) by Component, Net of Tax	The changes in accumulated other comprehensive income (loss) by component, net of tax for the quarters and nine month periods ended December 31, 2016 and 2015 are as follows: For the quarter ended December 31, 2016 For the nine months ended December 31, 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) 9/30/16 in OCI net income OCI 12/31/16 3/31/16 in OCI net income OCI 12/31/16 Available for sale securities 72 (188 ) 115 (73 ) (1 ) (208 ) (50 ) 257 207 (1 ) 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 (1,387 ) — 70 70 (1,317 ) (1,530 ) — 213 213 (1,317 ) Total (6,443 ) (188 ) 185 (3 ) (6,446 ) (6,866 ) (50 ) 470 420 (6,446 ) For the quarter ended December 31, 2015 For the nine months ended December 31, 2015 Balance Gains/(losses) Reclasses Net Remaining Balance Gains/(losses) Reclasses Net Remaining at recognized from period balance at recognized from period balance (in thousands) 9/30/15 in OCI net income OCI 12/31/15 3/31/15 in OCI net income OCI 12/31/15 Available for sale securities (444 ) 235 (24 ) 211 (233 ) 235 (569 ) 101 (468 ) (233 ) Currency translation adjustment (9,811 ) — — — (9,811 ) (9,811 ) — — — (9,811 ) Pension/Post- retirement benefits (9,059 ) — — — (9,059 ) (9,129 ) 70 — 70 (9,059 ) Interest rate swaps (1,314 ) — 180 180 (1,134 ) (1,673 ) — 539 539 (1,134 ) Total (20,628 ) 235 156 391 (20,237 ) (20,378 ) (499 ) 640 141 (20,237 )
Reclassifications from Accumulated Other Comprehensive Income (Loss) to Condensed Consolidated Statement of Income	The following table summarizes the reclassifications from accumulated other comprehensive income (loss) to the condensed consolidated statement of income for the quarters and nine month periods ended December 31, 2016 and 2015: Quarter Ended Nine Months Ended December 31, December 31, Affected line item in the (In thousands) 2016 2015 2016 2015 consolidated statements of income Realized gains on available for sale securities $ 115 (37 ) 257 155 Interest income and other, net Amortization of interest rate swap 70 277 213 829 Interest and other debt costs Total pre-tax amounts 185 240 470 984 Tax effect — 84 — 344 Total gains for the period, net of tax $ 185 156 470 640

INCOME TAXES (Tables)

INCOME TAXES (Tables)	9 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Schedule of Uncertain Tax Positions and Income Tax Payable	The company’s balance sheet at December 31, 2016 reflects the following in accordance with Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) 740, Income Taxes December 31, (In thousands) 2016 Tax liabilities for uncertain tax positions $ 11,438 Income tax payable 12,903
Schedule of Unrecognized Tax Benefits Which Would Lower Effective Tax Rate if Realized	Unrecognized tax benefits, which would lower the effective tax rate if realized at December 31, 2016, are as follows: December 31, (In thousands) 2016 Unrecognized tax benefit related to state tax issues $ 12,367 Interest receivable on unrecognized tax benefit related to state tax issues 46

EMPLOYEE BENEFIT PLANS (Tables)

EMPLOYEE BENEFIT PLANS (Tables)	9 Months Ended
	Dec. 31, 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 December 31, 2016 and March 31, 2016: December 31, March 31, (In thousands) 2016 2016 Investments held in Rabbi trust $ 8,697 8,811 Unrealized losses in fair value of trust assets (1 ) (208 ) Unrealized losses in fair value of trust assets are net of income tax expense of — (168 ) Obligations under the supplemental plan 26,043 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 Nine Months Ended December 31, December 31, (In thousands) 2016 2015 2016 2015 Pension Benefits: Service cost $ 257 234 763 702 Interest cost 941 935 2,823 2,805 Expected return on plan assets (548 ) (530 ) (1,645 ) (1,590 ) Administrative expenses 2 — 6 — Amortization of prior service cost — 9 — 27 Recognized actuarial loss 446 567 1,338 1,701 Net periodic benefit cost $ 1,098 1,215 3,285 3,645 Other Benefits: Service cost $ 20 41 60 191 Interest cost 50 103 150 524 Amortization of prior service cost (1,086 ) (899 ) (3,258 ) (1,920 ) Recognized actuarial benefit (285 ) (281 ) (855 ) (770 ) Net periodic benefit cost $ (1,301 ) (1,036 ) (3,903 ) (1,975 )

INDEBTEDNESS (Tables)

INDEBTEDNESS (Tables)	9 Months Ended
	Dec. 31, 2016
Summary of Debt Outstanding	The following is a summary of debt outstanding at December 31, 2016 and March 31, 2016: December 31, March 31, (In thousands) 2016 2016 Term loan $ 300,000 300,000 Revolving line of credit 600,000 600,000 September 2013 senior unsecured notes 500,000 500,000 August 2011 senior unsecured notes 165,000 165,000 September 2010 senior unsecured notes: 382,500 382,500 May 2015 4.22% notes 27,421 30,033 March 2015 4.21% notes 25,802 27,030 January 2014 3.81% notes 27,487 30,207 May 2012 5.38% notes 14,791 17,500 $ 2,043,001 2,052,270 Less: Deferred debt issue costs 6,941 6,754 Total debt $ 2,036,060 2,045,516
Debt Costs	The following is a summary of interest and debt costs incurred, net of interest capitalized, for the quarters and nine-month periods ended December 31, 2016 and 2015: Quarter Ended Nine Months Ended December 31, December 31, (In thousands) 2016 2015 2016 2015 Interest and debt costs incurred, net of interest capitalized $ 18,587 13,312 54,018 39,741 Interest costs capitalized 1,118 2,513 3,612 8,280 Total interest and debt costs $ 19,705 15,825 57,630 48,021
Unites States Dollar Denominated Debt
Summary of Debt Outstanding	The following table contains additional detail for U.S. dollar denominated borrowings outstanding at December 31, 2016 and March 31, 2016: December 31, 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) 165,000 300,000 Revolving line of credit (A) (B) 600,000 600,000 Fair value revolving line of credit outstanding (Level 2) 330,000 600,000 September 2013 senior unsecured notes: Aggregate debt outstanding $ 500,000 500,000 Weighted average remaining life in years (C) 6.6 7.4 Weighted average coupon rate on notes outstanding 4.86 % 4.86 % Fair value of debt outstanding (Level 2) $ 275,000 342,746 August 2011 senior unsecured notes: Aggregate debt outstanding $ 165,000 165,000 Weighted average remaining life in years (C) 3.8 4.6 Weighted average coupon rate on notes outstanding 4.42 % 4.42 % Fair value of debt outstanding (Level 2) $ 90,750 127,148 September 2010 senior unsecured notes: Aggregate debt outstanding $ 382,500 382,500 Weighted average remaining life in years (C) 3.3 4.1 Weighted average coupon rate on notes outstanding 4.35 % 4.35 % Fair value of debt outstanding (Level 2) $ 210,375 302,832 May 2015 4.22% notes (D): Amount outstanding $ 27,421 30,033 Fair value of debt outstanding (Level 2) 27,409 30,062 March 2015 4.21% notes (D): Amount outstanding $ 25,802 27,030 Fair value of debt outstanding (Level 2) 25,765 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 December 31, 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.
Norwegian Kroner (NOK) denominated borrowing
Summary of Debt Outstanding	The following table contains additional detail for Norwegian Kroner (NOK) denominated borrowings outstanding at December 31, 2016 and March 31, 2016, and their U.S. dollar equivalents: December 31, March 31, (In thousands) 2016 2016 January 2014 3.81% notes (A): NOK denominated 237,500 250,000 U.S. dollar equivalent $ 27,487 30,207 Fair value in U.S. dollar equivalent (Level 2) 27,442 30,199 May 2012 5.38% notes (A): NOK denominated 127,800 144,840 U.S. dollar equivalent $ 14,791 17,500 Fair value in U.S. dollar equivalent (Level 2) 14,767 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)	9 Months Ended
	Dec. 31, 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 nine-month periods ended December 31, 2016 and 2015 are as follows: Quarter Ended Nine Months Ended December 31, December 31, (In thousands, except share and per share data) 2016 2015 2016 2015 Net loss available to common shareholders $ (297,676 ) (19,509 ) (565,263 ) (78,396 ) Weighted average outstanding shares of common stock, basic 47,068,079 46,943,705 47,067,887 46,956,041 Dilutive effect of options and restricted stock awards and units — — — — Weighted average common stock and equivalents 47,068,079 46,943,705 47,067,887 46,956,041 Loss per share, basic (A) $ (6.32 ) (0.42 ) (12.01 ) (1.67 ) Loss per share, diluted (B) $ (6.32 ) (0.42 ) (12.01 ) (1.67 ) Additional information: Antidilutive incremental options and restricted stock awards and units 193,238 455,663 338,039 385,073 (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)	9 Months Ended
	Dec. 31, 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 December 31, 2016: Number Invested Remaining of Total Through Balance (In thousands, except vessel count) Vessels Cost 12/31/16 12/31/16 Vessels under construction (A): Deepwater PSVs 3 $ 164,279 117,624 46,655 Total vessel commitments 3 $ 164,279 117,624 46,655 (A) The two remaining option vessels and a fast supply boat are not included in the table above.

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
	Dec. 31, 2016
Fair Value Disclosures [Abstract]
Schedule of Fair Value Assets and Liabilities Measured on Recurring Basis	The following table provides the fair value hierarchy for the supplemental plan assets measured at fair value as of December 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: $ 5,164 5,164 — — — Debt securities: 3,207 860 725 — 1,622 Cash and cash equivalents 367 55 257 — 55 Total $ 8,738 6,079 982 — 1,677 Other pending transactions (40 ) (40 ) — — — Total fair value of plan assets $ 8,698 6,039 982 — 1,677 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: $ 4,834 4,834 — — — Debt securities: 3,374 972 739 — 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 December 31, 2016: Significant Significant Quoted prices in observable unobservable active markets inputs inputs (In thousands) Total (Level 1) (Level 2) (Level 3) Cash equivalents $ 612,768 612,768 — — Total fair value of assets $ 612,768 612,768 — — 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)	9 Months Ended
	Dec. 31, 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 December 31, 2016 and March 31, 2016 is as follows: December 31, March 31, (In thousands) 2016 2016 Deposits on vessel construction options (A) $ 50 30,285 Deposits - general 12,670 8,076 Prepaid expenses 9,333 6,394 Total other current assets $ 22,053 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 December 31, 2016 and March 31, 2016 is as follows: December 31, March 31, (In thousands) 2016 2016 Recoverable insurance losses $ 11,047 9,412 Deferred income tax assets 55,039 33,505 Savings plans and supplemental plan 14,452 14,472 Other 18,234 14,297 Total other assets $ 98,772 71,686
Schedule of Accrued Expenses	A summary of accrued expenses at December 31, 2016 and March 31, 2016 is as follows: December 31, March 31, (In thousands) 2016 2016 Payroll and related payables $ 11,301 12,864 Commissions payable 4,140 7,193 Accrued vessel expenses 37,849 45,838 Accrued interest expense 4,902 15,120 Other accrued expenses 9,220 10,596 Total accrued expenses $ 67,412 91,611
Schedule of Other Current Liabilities	A summary of other current liabilities at December 31, 2016 and March 31, 2016 is as follows: December 31, March 31, (In thousands) 2016 2016 Taxes payable $ 24,968 45,854 Deferred gain on vessel sales - current 23,798 23,798 Other 1,508 5,173 Total other current liabilities $ 50,274 74,825
Schedule of Other Liabilities and Deferred Credits	A summary of other liabilities and deferred credits at December 31, 2016 and March 31, 2016 is as follows: December 31, March 31, (In thousands) 2016 2016 Postretirement benefits liability $ 311 4,755 Pension liabilities 40,289 41,690 Deferred gain on vessel sales 94,873 112,721 Other 23,764 22,380 Total other liabilities and deferred credits $ 159,237 181,546

SEGMENT AND GEOGRAPHIC DISTRI33

SEGMENT AND GEOGRAPHIC DISTRIBUTION OF OPERATIONS (Tables)	9 Months Ended
	Dec. 31, 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 the company’s chief operating decision maker’s review of 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 nine-month periods ended December 31, 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 Nine Months Ended December 31, December 31, (In thousands) 2016 2015 2016 2015 Revenues: Vessel revenues: Americas $ 45,577 75,963 159,310 279,345 Asia/Pacific 5,586 19,144 19,617 79,254 Middle East 20,647 26,256 68,323 87,193 Africa/Europe 53,310 91,545 179,661 329,560 125,120 212,908 426,911 775,352 Other operating revenues 4,095 5,283 13,951 19,536 $ 129,215 218,191 440,862 794,888 Vessel operating profit (loss): Americas $ (6,242 ) 9,289 (11,745 ) 41,940 Asia/Pacific (5,586 ) (3,796 ) (17,256 ) 4,122 Middle East (2,782 ) 650 (1,890 ) 4,898 Africa/Europe (11,559 ) 3,120 (38,940 ) 19,085 (26,169 ) 9,263 (69,831 ) 70,045 Other operating profit (loss) 116 (626 ) (1,323 ) (3,120 ) (26,053 ) 8,637 (71,154 ) 66,925 Corporate general and administrative expenses (13,133 ) (7,150 ) (33,632 ) (25,096 ) Corporate depreciation (565 ) (1,629 ) (1,892 ) (4,772 ) Corporate expenses (13,698 ) (8,779 ) (35,524 ) (29,868 ) Gain on asset dispositions, net 6,139 5,883 18,035 19,345 Asset impairments (A) (253,422 ) (15,141 ) (419,870 ) (61,771 ) Restructuring charge (B) — — — (7,586 ) Operating loss $ (287,034 ) (9,400 ) (508,513 ) (12,955 ) Foreign exchange gain (loss) 2,970 (469 ) (2,302 ) (3,758 ) Equity in net earnings (losses) of unconsolidated companies 1,557 (1,710 ) 2,869 (7,070 ) Interest income and other, net 1,437 609 3,605 1,754 Interest and other debt costs, net (18,587 ) (13,312 ) (54,018 ) (39,741 ) Loss before income taxes $ (299,657 ) (24,282 ) (558,359 ) (61,770 ) Depreciation and amortization: Americas $ 12,039 12,029 37,517 36,311 Asia/Pacific 5,266 5,803 16,586 16,503 Middle East 5,411 4,780 15,764 14,381 Africa/Europe 17,166 19,812 54,365 60,806 39,882 42,424 124,232 128,001 Other 855 1,369 3,575 4,285 Corporate 565 1,629 1,892 4,772 $ 41,302 45,422 129,699 137,058 Additions to properties and equipment: Americas $ 18 2,064 93 44,118 Asia/Pacific — 360 — 2,069 Middle East 273 127 587 776 Africa/Europe 190 460 649 1,827 481 3,011 1,329 48,790 Other — 26 — 113 Corporate (C) 2,008 8,872 21,145 103,467 $ 2,489 11,909 22,474 152,370 (A) Refer to Note (15) for additional information regarding asset impairment charges. (B) Refer to Note (14) for additional information regarding the restructuring charge. (C) Included in Corporate are additions to properties and equipment relating to vessels currently under construction which have not yet been assigned to a non-corporate reporting segment as of the dates presented .
Comparison of Total Assets	The following table provides a comparison of total assets at December 31, 2016 and March 31, 2016: December 31, March 31, (In thousands) 2016 2016 Total assets: Americas $ 832,628 1,101,699 Asia/Pacific 346,385 514,948 Middle East 284,767 405,420 Africa/Europe 1,965,423 1,999,543 3,429,203 4,021,610 Other 23,120 42,191 3,452,323 4,063,801 Investments in, at equity, and advances to unconsolidated companies 42,516 37,502 3,494,839 4,101,303 Corporate (A) (B) 820,360 882,490 $ 4,315,199 4,983,793 (A) At December 31, 2016 and March 31, 2016, $610.7 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 December 31, 2016 and March 31, 2016, $94.6 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 nine-month periods ended December 31, 2016 and 2015: Quarter Ended Nine Months Ended Revenue by vessel class December 31, December 31, (In thousands) 2016 % of Vessel Revenue 2015 % of Vessel Revenue 2016 % of Vessel Revenue 2015 % of Vessel Revenue Americas fleet: Deepwater $ 30,846 25 % 49,792 23 % 108,503 25 % 191,720 25 % Towing-supply 11,905 9 % 22,254 11 % 41,823 10 % 75,890 10 % Other 2,826 2 % 3,917 2 % 8,984 2 % 11,735 1 % Total $ 45,577 36 % 75,963 36 % 159,310 37 % 279,345 36 % Asia/Pacific fleet: Deepwater $ 1,652 1 % 13,267 6 % 6,114 2 % 56,535 7 % Towing-supply 3,934 3 % 5,877 3 % 13,503 3 % 22,719 3 % Other — — — — — — — — Total $ 5,586 4 % 19,144 9 % 19,617 5 % 79,254 10 % Middle East fleet: Deepwater $ 6,953 6 % 5,359 3 % 19,979 5 % 17,800 2 % Towing-supply 13,694 11 % 20,897 9 % 48,344 11 % 69,393 9 % Other — — — — — — — — Total $ 20,647 17 % 26,256 12 % 68,323 16 % 87,193 11 % Africa/Europe fleet: Deepwater $ 21,748 17 % 42,692 20 % 79,342 18 % 165,327 22 % Towing-supply 26,087 21 % 36,084 17 % 79,938 19 % 120,995 15 % Other 5,475 5 % 12,769 6 % 20,381 5 % 43,238 6 % Total $ 53,310 43 % 91,545 43 % 179,661 42 % 329,560 43 % Worldwide fleet: Deepwater $ 61,199 49 % 111,110 52 % 213,938 50 % 431,382 56 % Towing-supply 55,620 44 % 85,112 40 % 183,608 43 % 288,997 37 % Other 8,301 7 % 16,686 8 % 29,365 7 % 54,973 7 % Total $ 125,120 100 % 212,908 100 % 426,911 100 % 775,352 100 %

SALE_LEASEBACK ARRANGEMENTS (Ta

SALE/LEASEBACK ARRANGEMENTS (Tables)	9 Months Ended
	Dec. 31, 2016
Leases [Abstract]
Schedule of Future Minimum Lease Payments	As of December 31, 2016 the company operated 16 vessels under sale/leaseback arrangements of which ten are stacked. As of December 31, 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 three months of 2017 $ 2,371 5,220 7,591 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 $ 64,573 119,067 183,640

RESTRUCTURING CHARGE (Tables)

RESTRUCTURING CHARGE (Tables)	9 Months Ended
	Dec. 31, 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 nine-month periods ended December 31, 2016 and 2015 are as follows: Quarter Ended Nine Months Ended December 31, December 31, (In thousands) 2016 2015 2016 2015 Americas: Crew costs $ — — — 3,410 Other vessel costs — — — 203 Asia/Pacific: Crew costs — — — 3,973 Total restructuring charges $ — — — 7,586

ASSET IMPAIRMENTS (Tables)

ASSET IMPAIRMENTS (Tables)	9 Months Ended
	Dec. 31, 2016
Asset Impairment Charges [Abstract]
Summary of Combined Fair Value of Assets Incurred Impairments	The table below summarizes the combined fair value of the assets that incurred impairments during the quarters and nine-month periods ended December 31, 2016 and 2015, along with the amount of impairment. Quarter Ended Nine Months Ended December 31, December 31, (In thousands) 2016 2015 2016 2015 Number of vessels impaired during the period 74 14 115 47 Number of ROVs impaired during the period — — 8 — Amount of impairment incurred $ 253,422 15,141 419,870 61,771 Combined fair value of assets incurring impairment 523,495 90,010 813,851 244,310

Status of Discussions With Le37

Status of Discussions With Lenders and Noteholders / Audit Opinion - Additional Information (Detail)	Dec. 31, 2016	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%	300.00%

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Equity [Abstract]
Dividends declared	$ 0	$ 11,811,000	$ 0	$ 34,965,000

Schedule of Dividends Declared

Schedule of Dividends Declared (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Stockholders Equity Note [Abstract]
Dividends declared	$ 0	$ 11,811,000	$ 0	$ 34,965,000
Dividend per share		$ 0.25		$ 0.75

Changes in Accumulated Other Co

Changes in Accumulated Other Comprehensive Income (Loss) by Component, Net of Tax (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance			$ 2,305,554	$ 2,480,715
Balance	$ 1,747,564	$ 2,375,932	1,747,564	2,375,932
Available for Sale Securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	72	(444)	(208)	235
Gains/(losses) recognized in OCI	(188)	235	(50)	(569)
Reclasses from OCI to net income	115	(24)	257	101
Net period OCI	(73)	211	207	(468)
Balance	(1)	(233)	(1)	(233)
Currency Translation Adjustment
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	(9,811)	(9,811)	(9,811)	(9,811)
Balance	(9,811)	(9,811)	(9,811)	(9,811)
Pension/Post-retirement Benefits
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	4,683	(9,059)	4,683	(9,129)
Gains/(losses) recognized in OCI				70
Net period OCI				70
Balance	4,683	(9,059)	4,683	(9,059)
Interest Rate Swaps
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	(1,387)	(1,314)	(1,530)	(1,673)
Reclasses from OCI to net income	70	180	213	539
Net period OCI	70	180	213	539
Balance	(1,317)	(1,134)	(1,317)	(1,134)
Accumulated other comprehensive loss
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	(6,443)	(20,628)	(6,866)	(20,378)
Gains/(losses) recognized in OCI	(188)	235	(50)	(499)
Reclasses from OCI to net income	185	156	470	640
Net period OCI	(3)	391	420	141
Balance	$ (6,446)	$ (20,237)	$ (6,446)	$ (20,237)

Reclassifications from Accumula

Reclassifications from Accumulated Other Comprehensive Income (Loss) to Condensed Consolidated Statement of Income (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest income and other, net	$ 1,437	$ 609	$ 3,605	$ 1,754
Interest and other debt costs	18,587	13,312	54,018	39,741
Loss before income taxes	(299,657)	(24,282)	(558,359)	(61,770)
Tax effect	(2,884)	(4,679)	4,680	16,996
Net loss attributable to Tidewater Inc.	(297,676)	(19,509)	(565,263)	(78,396)
Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Loss before income taxes	185	240	470	984
Tax effect		84		344
Net loss attributable to Tidewater Inc.	185	156	470	640
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	115	(37)	257	155
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	$ 70	$ 277	$ 213	$ 829

Schedule of Uncertain Tax Posit

Schedule of Uncertain Tax Positions and Income Tax Payable (Detail) $ in Thousands	Dec. 31, 2016USD ($)
Income Tax Disclosure [Abstract]
Tax liabilities for uncertain tax positions	$ 11,438
Income tax payable	$ 12,903

Schedule of Unrecognized Tax Be

Schedule of Unrecognized Tax Benefits Which Would Lower Effective Tax Rate if Realized (Detail) - State and Local Jurisdiction $ in Thousands	9 Months Ended
	Dec. 31, 2016USD ($)
Income Tax Contingency [Line Items]
Unrecognized tax benefit related to state tax issues	$ 12,367
Interest receivable on unrecognized tax benefit related to state tax issues	$ 46

Employee Benefit Plans - Additi

Employee Benefit Plans - Additional Information (Detail) - USD ($)	3 Months Ended	9 Months Ended
	Dec. 31, 2016	Dec. 31, 2016	Dec. 31, 2015
Pension Plans, Defined Benefit
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, employer contributions	$ 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	200,000	$ 0
Expected contribution to the plan during the remaining quarters of fiscal 2017		0
Postretirement Benefit Plan
Defined Benefit Plan Disclosure [Line Items]
Increase in net periodic benefit	$ 300,000	$ 1,900,000

Schedule of Carrying Value of T

Schedule of Carrying Value of Trust Assets, Including Unrealized Gains or Losses (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Mar. 31, 2016
Compensation And Retirement Disclosure [Abstract]
Investments held in Rabbi trust	$ 8,697	$ 8,811
Unrealized losses in fair value of trust assets	(1)	(208)
Unrealized losses in fair value of trust assets are net of income tax expense of		(168)
Obligations under the supplemental plan	$ 26,043	$ 25,072

Schedule of Net Periodic Benefi

Schedule of Net Periodic Benefit Cost (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Pension Benefits
Net Period Benefit Cost Assumptions [Line Items]
Service cost	$ 257	$ 234	$ 763	$ 702
Interest cost	941	935	2,823	2,805
Expected return on plan assets	(548)	(530)	(1,645)	(1,590)
Administrative expenses	2		6
Amortization of prior service cost		9		27
Recognized actuarial (benefit) loss	446	567	1,338	1,701
Net periodic benefit cost	1,098	1,215	3,285	3,645
Other Benefits
Net Period Benefit Cost Assumptions [Line Items]
Service cost	20	41	60	191
Interest cost	50	103	150	524
Amortization of prior service cost	(1,086)	(899)	(3,258)	(1,920)
Recognized actuarial (benefit) loss	(285)	(281)	(855)	(770)
Net periodic benefit cost	$ (1,301)	$ (1,036)	$ (3,903)	$ (1,975)

Summary of Debt Outstanding (De

Summary of Debt Outstanding (Detail) NOK in Thousands, $ in Thousands		Dec. 31, 2016USD ($)	Dec. 31, 2016NOK	Mar. 31, 2016USD ($)	Mar. 31, 2016NOK
Debt [Line Items]
Amount outstanding		$ 2,043,001		$ 2,052,270
Less: Deferred debt issue costs		6,941		6,754
Total debt		2,036,060		2,045,516
Revolving Line of Credit
Debt [Line Items]
Outstanding borrowing	[1],[2]	600,000		600,000
Term loan
Debt [Line Items]
Amount outstanding	[1]	300,000		300,000
September 2013 Senior Unsecured Notes
Debt [Line Items]
Aggregate debt outstanding		500,000		500,000
August 2011 Senior Unsecured Notes
Debt [Line Items]
Aggregate debt outstanding		165,000		165,000
September 2010 Senior Unsecured Notes
Debt [Line Items]
Aggregate debt outstanding		382,500		382,500
May 2015 4.22% Notes
Debt [Line Items]
Amount outstanding	[3]	27,421		30,033
March 2015 4.21% Notes
Debt [Line Items]
Amount outstanding	[3]	25,802		27,030
January 2014 3.81% notes
Debt [Line Items]
Amount outstanding	[3]	27,487	NOK 237,500	30,207	NOK 250,000
May 2012 5.38% notes
Debt [Line Items]
Amount outstanding	[3]	$ 14,791	NOK 127,800	$ 17,500	NOK 144,840
[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 December 31, 2016 and March 31, 2016, respectively.
[3]	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)		Dec. 31, 2016	Mar. 31, 2016
May 2015 4.22% Notes
Debt [Line Items]
Debt instrument interest rate	[1]	4.22%	4.22%
March 2015 4.21% Notes
Debt [Line Items]
Debt instrument interest rate	[1]	4.21%	4.21%
January 2014 3.81% notes
Debt [Line Items]
Debt instrument interest rate	[1]	3.81%	3.81%
May 2012 5.38% notes
Debt [Line Items]
Debt instrument interest rate	[1]	5.38%	5.38%
[1]	Troms Offshore debt requires semi-annual principal payments and has a 12 year maturity.

Additional Detail for U.S. Doll

Additional Detail for U.S. Dollar Denominated Borrowings Outstanding (Detail) - USD ($) $ in Thousands		9 Months Ended	12 Months Ended
		Dec. 31, 2016	Mar. 31, 2016
Debt [Line Items]
Amount outstanding		$ 2,043,001	$ 2,052,270
Revolving Line of Credit
Debt [Line Items]
Outstanding borrowing	[1],[2]	600,000	600,000
Fair value revolving line of credit outstanding (Level 2)		330,000	600,000
Term loan
Debt [Line Items]
Amount outstanding	[1]	300,000	300,000
Fair value term loan outstanding (Level 2)		165,000	300,000
September 2013 Senior Unsecured Notes
Debt [Line Items]
Fair value term loan outstanding (Level 2)		275,000	342,746
Aggregate debt outstanding		$ 500,000	$ 500,000
Weighted average remaining life in years	[3]	6 years 7 months 6 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)		$ 90,750	$ 127,148
Aggregate debt outstanding		$ 165,000	$ 165,000
Weighted average remaining life in years	[3]	3 years 9 months 18 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)		$ 210,375	$ 302,832
Aggregate debt outstanding		$ 382,500	$ 382,500
Weighted average remaining life in years	[3]	3 years 3 months 18 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]	$ 27,421	$ 30,033
Fair value term loan outstanding (Level 2)	[4]	27,409	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]	$ 25,765	$ 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 December 31, 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.

Additional Detail for U.S. Do50

Additional Detail for U.S. Dollar Denominated Borrowings Outstanding (Parenthetical) (Detail)		9 Months Ended
		Dec. 31, 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	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016
Debt [Line Items]
Reduction of debt	$ 6.9			$ 6.8
Minimum
Debt [Line Items]
Interest coverage ratio	300.00%	300.00%	300.00%
Maximum
Debt [Line Items]
Debt to capital ratio	0.55

Additional Detail for Norwegian

Additional Detail for Norwegian Kroner (NOK) Denominated Borrowings Outstanding (Detail) NOK in Thousands, $ in Thousands		Dec. 31, 2016USD ($)	Dec. 31, 2016NOK	Mar. 31, 2016USD ($)	Mar. 31, 2016NOK
Debt [Line Items]
Amount outstanding		$ 2,043,001		$ 2,052,270
January 2014 3.81% notes
Debt [Line Items]
Amount outstanding	[1]	27,487	NOK 237,500	30,207	NOK 250,000
Fair value of debt outstanding	[1]	27,442		30,199
May 2012 5.38% notes
Debt [Line Items]
Amount outstanding	[1]	14,791	NOK 127,800	17,500	NOK 144,840
Fair value of debt outstanding	[1]	$ 14,767		$ 17,479
[1]	Troms Offshore debt requires semi-annual principal payments and has a 12 year maturity.

Additional Detail for Norwegi53

Additional Detail for Norwegian Kroner (NOK) Denominated Borrowings Outstanding (Parenthetical) (Detail)		9 Months Ended
		Dec. 31, 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		9 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Debt Disclosure [Abstract]
Interest and debt costs incurred, net of interest capitalized	$ 18,587	$ 13,312	$ 54,018	$ 39,741
Interest costs capitalized	1,118	2,513	3,612	8,280
Total interest and debt costs	$ 19,705	$ 15,825	$ 57,630	$ 48,021

Components of Basic and Diluted

Components of Basic and Diluted Loss Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		9 Months Ended
		Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Earnings Per Share [Abstract]
Net loss available to common shareholders		$ (297,676)	$ (19,509)	$ (565,263)	$ (78,396)
Weighted average outstanding shares of common stock, basic		47,068,079	46,943,705	47,067,887	46,956,041
Weighted average common stock and equivalents		47,068,079	46,943,705	47,067,887	46,956,041
Loss per share, basic	[1]	$ (6.32)	$ (0.42)	$ (12.01)	$ (1.67)
Loss per share, diluted	[2]	$ (6.32)	$ (0.42)	$ (12.01)	$ (1.67)
Antidilutive incremental options and restricted stock awards and units		193,238	455,663	338,039	385,073
[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 nine month periods ended December 31, 2016 and 2015.

Schedule of Vessel Commitments

Schedule of Vessel Commitments (Detail) $ in Thousands		1 Months Ended	9 Months Ended
		May 31, 2015USD ($)Vessel	Dec. 31, 2016USD ($)Vessel
Vessel Commitments
Significant Purchase and Supply Commitment [Line Items]
Number of Vessels, commitments | Vessel			3
Total cost, commitments			$ 164,279
Invested, commitments			117,624
Remaining Balance, commitments			$ 46,655
Deepwater PSVs
Significant Purchase and Supply Commitment [Line Items]
Number of vessels under construction | Vessel		2	3	[1]
Total cost, under construction	[1]		$ 164,279
Invested, under construction		$ 5,400	117,624	[1]
Remaining Balance, under construction	[1]		$ 46,655
[1]	two remaining option vessels and a fast supply boat are not included in the table above.

Schedule of Vessel Commitment57

Schedule of Vessel Commitments (Parenthetical) (Detail)	9 Months Ended
	Dec. 31, 2016Vessel
Option Agreement
Significant Purchase and Supply Commitment [Line Items]
Number of vessels under construction	2

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) $ in Thousands	Mar. 31, 2016USD ($)	Dec. 31, 2016USD ($)VesselT		Nov. 30, 2016USD ($)	Jun. 30, 2016USD ($)	Sep. 30, 2015VesselThp	Jun. 30, 2015VesselThp	May 31, 2015USD ($)VesselT	Dec. 31, 2016USD ($)VesselT		Mar. 31, 2016USD ($)	Mar. 31, 2016USD ($)	Dec. 31, 2016USD ($)VesselT		Dec. 31, 2015USD ($)	Mar. 31, 2017USD ($)	Mar. 31, 2016USD ($)
Significant Purchase and Supply Commitment [Line Items]
Refunds from cancelled vessel construction contracts													$ 25,565		$ 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							$ 5,600				5,600
Vessel Commitments
Significant Purchase and Supply Commitment [Line Items]
Remaining Balance, commitments		$ 46,655							$ 46,655				$ 46,655
Number of Vessels, commitments | Vessel		3							3				3
Deepwater PSVs
Significant Purchase and Supply Commitment [Line Items]
Significant commitment, new construction deadweight tons capacity | T		5,400						3,800	5,400				5,400
Number of vessels under construction | Vessel								2					3	[1]
Shipyard returned to the company		$ 200		$ 14,000	$ 11,500
Refunds from cancelled vessel construction contracts													$ 19,100
Impairment charge on amounts not recoverable											$ 1,900
Aggregate installment payment		117,624	[1]					$ 5,400	$ 117,624	[1]			117,624	[1]
Obligation to be relieved								21,700
Aggregate installment payment payment with interest								$ 11,900
Shipyard owed amount					11,700
Foreign taxes on interest					$ 200
Remaining installment obligation held		$ 50											$ 250
Extended option period for vessels													Jun. 30, 2017
Vessels Under Construction
Significant Purchase and Supply Commitment [Line Items]
Significant commitment, new construction deadweight tons capacity | T						4,700	4,700
Number of vessels under construction | Vessel						6	6
Significant commitment, new construction brake horsepower | hp						7,145	7,145
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	$ 3,500					$ 3,500
Impairment charge on amounts not recoverable												$ 800
Gain recognized on final refunds received from shipyard									$ 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]	two remaining option vessels and a fast supply boat are not included in the table above.

Commitments and Contingencies59

Commitments and Contingencies (Sonatide Joint Venture) - Additional Information (Detail) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Dec. 31, 2016USD ($)Vessel	Dec. 31, 2015USD ($)Vessel	Dec. 31, 2016USD ($)Vessel	Dec. 31, 2015USD ($)Vessel	Mar. 31, 2016USD ($)Vessel
Commitments and Contingencies Disclosure [Line Items]
Due from affiliate	$ 287,592		$ 287,592		$ 338,595
Due to affiliate	132,836		132,836		187,971
Vessel revenues	125,120	$ 212,908	426,911	$ 775,352
Investments in, at equity, and advances to unconsolidated companies	42,516		42,516		37,502
Sonatide joint venture
Commitments and Contingencies Disclosure [Line Items]
Due from affiliate	288,000		288,000		339,000
Unpaid vessel revenue	112,000		112,000
Due from affiliate and due to affiliate			69,000
Due to affiliate	$ 133,000		$ 133,000		188,000
Number of vessels operating | Vessel	7		7
Number of vessels stacked | Vessel	3		3
Ownership Interest In Joint Venture	49.00%		49.00%
Investments in, at equity, and advances to unconsolidated companies	$ 43,000		$ 43,000		$ 37,000
Percentage of tax valued on all debit transactions			0.10%
Debit transactions tax revoked effective date			Jan. 1, 2017
Sonatide joint venture | ANGOLA
Commitments and Contingencies Disclosure [Line Items]
Proceeds from related party			$ 80,000
Vessel revenues			$ 101,000	$ 172,000
Percentage of Angolan operation revenue			24.00%	22.00%
Number of vessels operating | Vessel	59	66	59	66
Number of vessels stacked | Vessel	19	8	19	8
Number of vessels transferred out of Angola | Vessel			18		23
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			$ 73,000
Sonatide joint venture | Sonatide's converting kwanzas into dollars and subsequent payment to company
Commitments and Contingencies Disclosure [Line Items]
Proceeds from related party			7,000
Sonatide joint venture | Angolan kwanza-denominated
Commitments and Contingencies Disclosure [Line Items]
Bank deposits maintained	$ 86,000		$ 86,000

Commitments and Contingencies60

Commitments and Contingencies (Brazilian Customs) - Additional Information (Detail) BRL in Millions, $ in Millions	1 Months Ended			9 Months Ended
	May 31, 2016USD ($)	May 31, 2015BRL	Apr. 30, 2011BRLVessel	Dec. 31, 2016USD ($)	Dec. 31, 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
Deposit amount | $	$ 3
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)	9 Months Ended
	Dec. 31, 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 $ in Millions	Dec. 31, 2016USD ($)Subsidiary	Dec. 27, 2016USD ($)	Mar. 13, 2015USD ($)
Commitments and Contingencies Disclosure [Line Items]
Number of subsidiaries awarded grant | Subsidiary	2
Compensation awarded to the claimants	$ 53.7	$ 36.4	$ 46.4
Litigation settlement reduction amount		$ 10
Compensation awarded to the claimants, annual compound interest rate		4.50%
Net Interest Settlements
Commitments and Contingencies Disclosure [Line Items]
Compensation awarded to the claimants	$ 14.8
Legal And Other Settlements
Commitments and Contingencies Disclosure [Line Items]
Compensation awarded to the claimants		$ 2.5

Commitment and Contingencies (N

Commitment and Contingencies (Nigeria Marketing Agent Litigation) - Additional Information (Detail) $ in Millions	Dec. 31, 2016USD ($)
Federal Government of Nigeria
Commitments and Contingencies Disclosure [Line Items]
Due to affiliates	$ 12

Schedule of Fair Value Assets a

Schedule of Fair Value Assets and Liabilities Measured on Recurring Basis (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Mar. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of plan assets	$ 8,697	$ 8,811
Supplemental Executive Retirement Plan
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	8,738	8,551
Other pending transactions	(40)	260
Total fair value of plan assets	8,698	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	1,677	1,711
Other pending transactions		18
Total fair value of plan assets	1,677	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	6,079	5,819
Other pending transactions	(40)	291
Total fair value of plan assets	6,039	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	982	1,021
Other pending transactions		(49)
Total fair value of plan assets	982	972
Supplemental Executive Retirement Plan | Equity Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	5,164	4,834
Supplemental Executive Retirement Plan | Equity 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	5,164	4,834
Supplemental Executive Retirement Plan | Debt Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	3,207	3,374
Supplemental Executive Retirement Plan | Debt Securities | Measured At Net Asset Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets	1,622	1,663
Supplemental Executive Retirement Plan | 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	860	972
Supplemental Executive Retirement Plan | 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	725	739
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	367	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	55	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	55	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	$ 257	$ 282

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail)	9 Months Ended	12 Months Ended
	Dec. 31, 2016USD ($)Contract	Mar. 31, 2016USD ($)Contract
Derivatives, Fair Value [Line Items]
Cash equivalents maturity period, days	90 days
Number of contracts outstanding | Contract	0	2
Notional value of foreign exchange contract		$ 1,400,000
Forward Contracts
Derivatives, Fair Value [Line Items]
Gain (loss) on Derivatives	$ 700,000	100,000
Derivative assets	$ 0	$ 0

Schedule of Fair Value Other Fi

Schedule of Fair Value Other Financial Instruments Measured (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Mar. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets	$ 612,768	$ 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	612,768	643,770
Cash Equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets	612,768	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	$ 612,768	$ 643,770

Schedule of Other Current Asset

Schedule of Other Current Assets (Detail) - USD ($) $ in Thousands		Dec. 31, 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]	$ 50	$ 30,285
Deposits - general		12,670	8,076
Prepaid expenses		9,333	6,394
Total other current assets		$ 22,053	$ 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	Dec. 31, 2016	Mar. 31, 2016
Other Assets, Noncurrent [Abstract]
Recoverable insurance losses	$ 11,047	$ 9,412
Deferred income tax assets	55,039	33,505
Savings plans and supplemental plan	14,452	14,472
Other	18,234	14,297
Total other assets	$ 98,772	$ 71,686

Schedule of Accrued Expenses (D

Schedule of Accrued Expenses (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Mar. 31, 2016
Accounts Payable and Accrued Liabilities Current [Abstract]
Payroll and related payables	$ 11,301	$ 12,864
Commissions payable	4,140	7,193
Accrued vessel expenses	37,849	45,838
Accrued interest expense	4,902	15,120
Other accrued expenses	9,220	10,596
Total accrued expenses	$ 67,412	$ 91,611

Schedule of Other Current Liabi

Schedule of Other Current Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Mar. 31, 2016
Other Liabilities Current [Abstract]
Taxes payable	$ 24,968	$ 45,854
Deferred gain on vessel sales - current	23,798	23,798
Other	1,508	5,173
Total other current liabilities	$ 50,274	$ 74,825

Schedule of Other Liabilities a

Schedule of Other Liabilities and Deferred Credits (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Mar. 31, 2016
Deferred Credits and Other Liabilities [Abstract]
Postretirement benefits liability	$ 311	$ 4,755
Pension liabilities	40,289	41,690
Deferred gain on vessel sales	94,873	112,721
Other	23,764	22,380
Total other liabilities and deferred credits	$ 159,237	$ 181,546

Segment Information, Geographic

Segment Information, Geographical Data and Major Customers (Detail) - USD ($) $ in Thousands		3 Months Ended			9 Months Ended
		Dec. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Dec. 31, 2016	Dec. 31, 2015
Segment Reporting Information [Line Items]
Vessel revenues		$ 125,120	$ 212,908		$ 426,911	$ 775,352
Other operating revenues		4,095	5,283		13,951	19,536
Total revenues		129,215	218,191		440,862	794,888
Operating profit (loss)		(26,053)	8,637		(71,154)	66,925
General and administrative expenses		(34,151)	(35,598)		(104,152)	(116,837)
Depreciation and amortization		41,302	45,422		129,699	137,058
Corporate expenses		(13,698)	(8,779)		(35,524)	(29,868)
Gain on asset dispositions, net		6,139	5,883		18,035	19,345
Asset impairments	[1]	(253,422)	(15,141)		(419,870)	(61,771)
Restructuring charge				$ (7,600)		(7,586)	[2]
Operating loss		(287,034)	(9,400)		(508,513)	(12,955)
Foreign exchange gain (loss)		2,970	(469)		(2,302)	(3,758)
Equity in net earnings (losses) of unconsolidated companies		1,557	(1,710)		2,869	(7,070)
Interest income and other, net		1,437	609		3,605	1,754
Interest and other debt costs, net		(18,587)	(13,312)		(54,018)	(39,741)
Loss before income taxes		(299,657)	(24,282)		(558,359)	(61,770)
Additions to properties and equipment		2,489	11,909		22,474	152,370
All Other Segments
Segment Reporting Information [Line Items]
Operating profit (loss)		116	(626)		(1,323)	(3,120)
Depreciation and amortization		855	1,369		3,575	4,285
Additions to properties and equipment			26			113
Operating Segments
Segment Reporting Information [Line Items]
Operating profit (loss)		(26,169)	9,263		(69,831)	70,045
Depreciation and amortization		39,882	42,424		124,232	128,001
Additions to properties and equipment		481	3,011		1,329	48,790
Operating Segments | Americas
Segment Reporting Information [Line Items]
Vessel revenues		45,577	75,963		159,310	279,345
Operating profit (loss)		(6,242)	9,289		(11,745)	41,940
Depreciation and amortization		12,039	12,029		37,517	36,311
Additions to properties and equipment		18	2,064		93	44,118
Operating Segments | Asia/Pacific
Segment Reporting Information [Line Items]
Vessel revenues		5,586	19,144		19,617	79,254
Operating profit (loss)		(5,586)	(3,796)		(17,256)	4,122
Depreciation and amortization		5,266	5,803		16,586	16,503
Additions to properties and equipment			360			2,069
Operating Segments | Middle East
Segment Reporting Information [Line Items]
Vessel revenues		20,647	26,256		68,323	87,193
Operating profit (loss)		(2,782)	650		(1,890)	4,898
Depreciation and amortization		5,411	4,780		15,764	14,381
Additions to properties and equipment		273	127		587	776
Operating Segments | Africa/Europe
Segment Reporting Information [Line Items]
Vessel revenues		53,310	91,545		179,661	329,560
Operating profit (loss)		(11,559)	3,120		(38,940)	19,085
Depreciation and amortization		17,166	19,812		54,365	60,806
Additions to properties and equipment		190	460		649	1,827
Corporate
Segment Reporting Information [Line Items]
General and administrative expenses		(13,133)	(7,150)		(33,632)	(25,096)
Depreciation and amortization		565	1,629		1,892	4,772
Additions to properties and equipment	[3]	$ 2,008	$ 8,872		$ 21,145	$ 103,467
[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		Dec. 31, 2016	Mar. 31, 2016
Segment and Geographic Distribution of Operations [Line Items]
Assets		$ 4,315,199	$ 4,983,793
Assets excluding equity investments		3,452,323	4,063,801
Investments in, at equity, and advances to unconsolidated companies		42,516	37,502
Assets except corporate portion		3,494,839	4,101,303
All Other Segments
Segment and Geographic Distribution of Operations [Line Items]
Assets		23,120	42,191
Operating Segments
Segment and Geographic Distribution of Operations [Line Items]
Assets		3,429,203	4,021,610
Operating Segments | Americas
Segment and Geographic Distribution of Operations [Line Items]
Assets		832,628	1,101,699
Operating Segments | Asia/Pacific
Segment and Geographic Distribution of Operations [Line Items]
Assets		346,385	514,948
Operating Segments | Middle East
Segment and Geographic Distribution of Operations [Line Items]
Assets		284,767	405,420
Operating Segments | Africa/Europe
Segment and Geographic Distribution of Operations [Line Items]
Assets		1,965,423	1,999,543
Corporate
Segment and Geographic Distribution of Operations [Line Items]
Assets	[1],[2]	$ 820,360	$ 882,490
[1]	At December 31, 2016 and March 31, 2016, $610.7 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 December 31, 2016 and March 31, 2016, $94.6 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	9 Months Ended	12 Months Ended
	Dec. 31, 2016	Mar. 31, 2016
Segment and Geographic Distribution of Operations [Line Items]
Cash	$ 610.7	$ 651.2
Construction costs	$ 94.6	$ 136.8

Schedule of Segment Reporting I

Schedule of Segment Reporting Information, Revenue by Vessel Class (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues	$ 125,120	$ 212,908	$ 426,911	$ 775,352
Americas Fleet Deepwater vessels
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues	$ 30,846	$ 49,792	$ 108,503	$ 191,720
Percentage of revenue	25.00%	23.00%	25.00%	25.00%
Americas Fleet Towing-Supply/supply
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues	$ 11,905	$ 22,254	$ 41,823	$ 75,890
Percentage of revenue	9.00%	11.00%	10.00%	10.00%
Americas Fleet Other
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues	$ 2,826	$ 3,917	$ 8,984	$ 11,735
Percentage of revenue	2.00%	2.00%	2.00%	1.00%
Americas Fleet
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues	$ 45,577	$ 75,963	$ 159,310	$ 279,345
Percentage of revenue	36.00%	36.00%	37.00%	36.00%
Asia and Pacific Fleet Deepwater vessels
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues	$ 1,652	$ 13,267	$ 6,114	$ 56,535
Percentage of revenue	1.00%	6.00%	2.00%	7.00%
Asia/Pacific Fleet Towing-Supply/supply
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues	$ 3,934	$ 5,877	$ 13,503	$ 22,719
Percentage of revenue	3.00%	3.00%	3.00%	3.00%
Asia/Pacific Fleet
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues	$ 5,586	$ 19,144	$ 19,617	$ 79,254
Percentage of revenue	4.00%	9.00%	5.00%	10.00%
Middle East Fleet Deepwater vessels
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues	$ 6,953	$ 5,359	$ 19,979	$ 17,800
Percentage of revenue	6.00%	3.00%	5.00%	2.00%
Middle East Fleet Towing-Supply/supply
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues	$ 13,694	$ 20,897	$ 48,344	$ 69,393
Percentage of revenue	11.00%	9.00%	11.00%	9.00%
Middle East fleet
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues	$ 20,647	$ 26,256	$ 68,323	$ 87,193
Percentage of revenue	17.00%	12.00%	16.00%	11.00%
Africa/Europe Fleet Deepwater vessels
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues	$ 21,748	$ 42,692	$ 79,342	$ 165,327
Percentage of revenue	17.00%	20.00%	18.00%	22.00%
Africa/Europe Fleet Towing-Supply/supply
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues	$ 26,087	$ 36,084	$ 79,938	$ 120,995
Percentage of revenue	21.00%	17.00%	19.00%	15.00%
Africa And Europe Fleet Other
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues	$ 5,475	$ 12,769	$ 20,381	$ 43,238
Percentage of revenue	5.00%	6.00%	5.00%	6.00%
Africa/Europe Fleet
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues	$ 53,310	$ 91,545	$ 179,661	$ 329,560
Percentage of revenue	43.00%	43.00%	42.00%	43.00%
Worldwide Fleet Deepwater vessels
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues	$ 61,199	$ 111,110	$ 213,938	$ 431,382
Percentage of revenue	49.00%	52.00%	50.00%	56.00%
Worldwide Fleet Towing-Supply/supply
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues	$ 55,620	$ 85,112	$ 183,608	$ 288,997
Percentage of revenue	44.00%	40.00%	43.00%	37.00%
Worldwide Fleet Other
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues	$ 8,301	$ 16,686	$ 29,365	$ 54,973
Percentage of revenue	7.00%	8.00%	7.00%	7.00%
Worldwide Fleet
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues	$ 125,120	$ 212,908	$ 426,911	$ 775,352
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	9 Months Ended
	Dec. 31, 2016USD ($)Vessel	Dec. 31, 2016USD ($)Vessel
Sale Leaseback Transaction [Line Items]
Deferred gain amortization from sale leaseback transactions | $	$ 5.8	$ 17.5
Sale/Leaseback Arrangement
Sale Leaseback Transaction [Line Items]
Number of vessels operating	16	16
Number of vessels stacked	10	10

Schedule of Future Minimum Leas

Schedule of Future Minimum Lease Payments (Detail) $ in Thousands	Dec. 31, 2016USD ($)
Sale Leaseback Transaction [Line Items]
Remaining three months of 2017	$ 7,591
2,018	33,090
2,019	35,034
2,020	37,016
2,021	31,573
Thereafter	39,336
Total future lease payments	183,640
Fiscal 2015 Sale/Leasebacks
Sale Leaseback Transaction [Line Items]
Remaining three months of 2017	2,371
2,018	9,604
2,019	10,234
2,020	11,497
2,021	11,594
Thereafter	19,273
Total future lease payments	64,573
Fiscal 2014 Sale/Leasebacks
Sale Leaseback Transaction [Line Items]
Remaining three months of 2017	5,220
2,018	23,486
2,019	24,800
2,020	25,519
2,021	19,979
Thereafter	20,063
Total future lease payments	$ 119,067

Restructuring Charge - Addition

Restructuring Charge - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2015	Dec. 31, 2015
Restructuring And Related Activities [Abstract]
Restructuring charge	$ 7,600	$ 7,586	[1]
[1]	Refer to Note (14) for additional information regarding the restructuring charge.

Restructuring Charges Incurred

Restructuring Charges Incurred by Segment and Cost Type (Detail) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2015	Dec. 31, 2015
Restructuring Cost And Reserve [Line Items]
Restructuring charges	$ 7,600	$ 7,586	[1]
Americas | Crew Costs
Restructuring Cost And Reserve [Line Items]
Restructuring charges		3,410
Americas | Other Vessel Costs
Restructuring Cost And Reserve [Line Items]
Restructuring charges		203
Asia/Pacific | Crew Costs
Restructuring Cost And Reserve [Line Items]
Restructuring charges		$ 3,973
[1]	Refer to Note (14) for additional information regarding the restructuring charge.

Asset Impairments - Additional

Asset Impairments - Additional Information (Detail) $ in Thousands		3 Months Ended		9 Months Ended
		Dec. 31, 2016USD ($)Vessel	Dec. 31, 2015USD ($)Vessel	Dec. 31, 2016USD ($)Vessel	Dec. 31, 2015USD ($)Vessel	Mar. 31, 2016USD ($)
Derivatives, Fair Value [Line Items]
Asset impairments	[1]	$ 253,422	$ 15,141	$ 419,870	$ 61,771
Number of vessels impaired during the period | Vessel		74	14	115	47
Fair value of assets incurring impairment		$ 523,495	$ 90,010	$ 813,851	$ 244,310
Net book value of assets		3,009,407		3,009,407		$ 3,551,291
Total carrying value of vessels		4,204,048		$ 4,204,048		$ 4,666,749
Stacked Vessels and Other Assets
Derivatives, Fair Value [Line Items]
Asset impairments		$ 84,100
Number of vessels impaired during the period | Vessel		26
Fair value of assets incurring impairment		$ 219,900
Number of vessels stacked | Vessel		80		80
Net book value of assets		$ 752,300		$ 752,300
Active Vessels
Derivatives, Fair Value [Line Items]
Asset impairments		$ 169,300
Number of vessels impaired during the period | Vessel		48
Fair value of assets incurring impairment		$ 303,600
Net book value of assets		$ 1,600,000		$ 1,600,000
Number of vessels active | Vessel		92		92
Stacked and Active Vessels
Derivatives, Fair Value [Line Items]
Number of vessels operating | Vessel		246		246
Total carrying value of vessels		$ 2,900,000		$ 2,900,000
[1]	Refer to Note (15) for additional information regarding asset impairment charges.

Summary of Combined Fair Value

Summary of Combined Fair Value of Assets Incurred Impairments (Detail) $ in Thousands		3 Months Ended		9 Months Ended
		Dec. 31, 2016USD ($)Vessel	Dec. 31, 2015USD ($)Vessel	Dec. 31, 2016USD ($)VesselVehicle	Dec. 31, 2015USD ($)Vessel
Asset Impairment Charges [Abstract]
Number of vessels impaired during the period | Vessel		74	14	115	47
Number of ROVs impaired during the period | Vehicle				8
Amount of impairment incurred	[1]	$ 253,422	$ 15,141	$ 419,870	$ 61,771
Combined fair value of assets incurring impairment		$ 523,495	$ 90,010	$ 813,851	$ 244,310
[1]	Refer to Note (15) for additional information regarding asset impairment charges.