Tidewater (TDW) 10-Q 15 May 18 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2018	Apr. 27, 2018
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Trading Symbol	TDW
Entity Registrant Name	TIDEWATER INC
Entity Central Index Key	98,222
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		24,102,053

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 442,472	$ 432,035
Restricted cash	2,847	21,300
Trade and other receivables, net	115,754	114,184
Due from affiliate	207,919	230,315
Marine operating supplies	28,896	28,220
Other current assets	18,181	19,130
Total current assets	816,069	845,184
Investments in, at equity, and advances to unconsolidated companies	13,503	29,216
Net properties and equipment	814,263	837,520
Deferred drydocking and survey costs	11,430	3,208
Other assets	30,783	31,052
Total assets	1,686,048	1,746,180
Current liabilities:
Accounts payable	45,781	38,497
Accrued expenses	56,408	54,806
Due to affiliate	78,135	99,448
Accrued property and liability losses	2,852	2,585
Current portion of long-term debt	5,215	5,103
Other current liabilities	8,826	19,693
Total current liabilities	197,217	220,132
Long-term debt	442,729	443,057
Accrued property and liability losses	2,561	2,471
Other liabilities	58,060	58,576
Commitments and Contingencies (Note 9)
Equity:
Successor Common stock of $0.001 par value, 125,000,000 shares authorized, 23,988,075 and 22,115,916 shares issued and outstanding at March 31, 2018 and December 31, 2017, respectively	24	22
Additional paid-in capital	1,061,983	1,059,120
Retained deficit	(78,438)	(39,266)
Accumulated other comprehensive loss	(446)	(147)
Total stockholders’ equity	983,123	1,019,729
Noncontrolling interests	2,358	2,215
Total equity	985,481	1,021,944
Total liabilities and equity	$ 1,686,048	$ 1,746,180

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Mar. 31, 2018	Dec. 31, 2017
Statement Of Financial Position [Abstract]
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	125,000,000	125,000,000
Common stock, shares issued	23,988,075	22,115,916
Common stock, shares outstanding	23,988,075	22,115,916

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS (LOSS) (Unaudited) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2018	Mar. 31, 2017
Revenues:
Vessel revenues		$ 87,494
Other operating revenues	[1]	3,999
Total revenues		91,493
Costs and expenses:
Vessel operating costs		61,364
Costs of other operating revenues		2,474
General and administrative		23,565
Depreciation and amortization		12,017
Gain on asset dispositions, net		(1,919)
Asset impairments	[2]	6,186
Total costs and expenses		103,687
Operating loss		(12,194)
Other income (expenses):
Foreign exchange gain (loss)		(348)
Equity in net earnings (losses) of unconsolidated companies		(15,439)
Interest income and other, net		(128)
Interest and other debt costs, net		(7,599)
Total other income (expenses)		(23,514)
Loss before income taxes		(35,708)
Income tax expense		3,321
Net loss		(39,029)
Less: Net income attributable to noncontrolling interests		143
Net loss attributable to Tidewater Inc.		$ (39,172)
Basic loss per common share	[3]	$ (1.67)
Diluted loss per common share	[4]	$ (1.67)
Weighted average common shares outstanding	[3]	23,424,943
Adjusted weighted average common shares		23,424,943
Predecessor
Revenues:
Vessel revenues			$ 156,905
Other operating revenues	[1]		3,844
Total revenues			160,749
Costs and expenses:
Vessel operating costs			80,845
Costs of other operating revenues			2,689
General and administrative			41,727
Vessel operating leases			8,443
Depreciation and amortization			37,592
Gain on asset dispositions, net			(6,064)
Asset impairments	[2]		64,857
Total costs and expenses			230,089
Operating loss			(69,340)
Other income (expenses):
Foreign exchange gain (loss)			664
Equity in net earnings (losses) of unconsolidated companies			2,841
Interest income and other, net			1,588
Interest and other debt costs, net			(21,008)
Total other income (expenses)			(15,915)
Loss before income taxes			(85,255)
Income tax expense			1,717
Net loss			(86,972)
Less: Net income attributable to noncontrolling interests			7,883
Net loss attributable to Tidewater Inc.			$ (94,855)
Basic loss per common share	[3]		$ (2.01)
Diluted loss per common share	[4]		$ (2.01)
Weighted average common shares outstanding	[3]		47,080,783
Adjusted weighted average common shares			47,080,783
[1]	Included in other operating revenues for the quarter ended March 31, 2017, were $0.3 million of revenues related to the company’s subsea business. The eight ROVs representing substantially all of the company’s subsea assets were sold in December 2017.
[2]	Refer to Note (13) for additional information regarding asset impairment charges.
[3]	Basic weighted average shares outstanding includes 108,044 shares issuable upon the exercise of New Creditor Warrants held by U.S. citizens at March 31, 2018 (Successor). Common shares and new creditor warrants and the sum of common shares and New Creditor Warrants outstanding at March 31, 2018 were 23,988,075, 6,021,696 and 30,009,771, respectively.
[4]	The company calculates “Loss per share, basic” by dividing “Net loss available to common shareholders” by “Weighted average outstanding shares of common stock, basic”.

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Net loss	$ (39,029)
Other comprehensive income:
Unrealized gains (losses) on available for sale securities, net of tax of $0 and $61	(299)
Total comprehensive loss	$ (39,328)
Predecessor
Net loss		$ (86,972)
Other comprehensive income:
Unrealized gains (losses) on available for sale securities, net of tax of $0 and $61		(94)
Change in loss on derivative contract, net of tax of $0 and $823		1,317
Change in supplemental executive retirement plan liability, net of tax of $0 and ($927)		(1,721)
Change in pension plan minimum liability, net of tax of $0 and $215		399
Change in other benefit plan minimum liability, net of tax of $0 and ($2,046)		(3,799)
Total comprehensive loss		$ (90,870)

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Unrealized gains (losses) on available-for-sale securities, tax	$ 0
Change in loss on derivative contract, tax	0
Change in supplemental executive retirement plan liability, tax	0
Change in Pension Plan minimum liability, tax	0
Change in Other Benefit Plan minimum liability, tax	$ 0
Predecessor
Unrealized gains (losses) on available-for-sale securities, tax		$ 61
Change in loss on derivative contract, tax		823
Change in supplemental executive retirement plan liability, tax		(927)
Change in Pension Plan minimum liability, tax		215
Change in Other Benefit Plan minimum liability, tax		$ (2,046)

CONDENSED CONSOLIDATED STATEME7

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2018	Mar. 31, 2017
Operating activities:
Net loss		$ (39,029)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization		11,380
Amortization of deferred drydocking and survey costs		638
Amortization of debt premium and discounts		(443)
Gain on asset dispositions, net		(1,919)
Asset impairments	[1]	6,186
Changes in investments in, at equity, and advances to unconsolidated companies		15,713
Compensation expense - stock-based		2,956
Changes in assets and liabilities, net:
Trade and other receivables		(1,662)
Changes in due to/from affiliate, net		1,083
Marine operating supplies		(677)
Other current assets		949
Accounts payable		7,284
Accrued expenses		845
Accrued property and liability losses		267
Other current liabilities		(2,695)
Other liabilities		(58)
Cash paid for deferred drydocking and survey costs		(8,860)
Other, net		2,058
Net cash provided by (used in) operating activities		(5,984)
Cash flows from investing activities:
Proceeds from sales of assets		9,492
Additions to properties and equipment		(1,677)
Net cash provided by (used in) investing activities		7,815
Cash flows from financing activities:
Principal payment on long-term debt		(1,471)
Payments to General Unsecured Creditors		(8,377)
Other		1
Net cash used in financing activities		(9,847)
Net change in cash, cash equivalents and restricted cash		(8,016)
Cash, cash equivalents and restricted cash at beginning of period		453,335
Cash, cash equivalents and restricted cash at end of period		445,319
Cash paid during the period for:
Interest, net of amounts capitalized		8,152
Income taxes		$ 6,429
Predecessor
Operating activities:
Net loss			$ (86,972)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization			37,592
Provision for deferred income taxes			(2,200)
Gain on asset dispositions, net			(6,064)
Asset impairments	[1]		64,857
Changes in investments in, at equity, and advances to unconsolidated companies			(5,062)
Compensation expense - stock-based			(888)
Excess tax liability on stock option activity			4,927
Changes in assets and liabilities, net:
Trade and other receivables			51,051
Changes in due to/from affiliate, net			24,961
Marine operating supplies			(408)
Other current assets			(6,458)
Accounts payable			(18,872)
Accrued expenses			9,267
Accrued property and liability losses			9
Other current liabilities			(3,860)
Other liabilities			1,884
Other, net			6,386
Net cash provided by (used in) operating activities			70,150
Cash flows from investing activities:
Proceeds from sales of assets			2,464
Additions to properties and equipment			(8,355)
Net cash provided by (used in) investing activities			(5,891)
Cash flows from financing activities:
Principal payment on long-term debt			(2,732)
Other			(4,927)
Net cash used in financing activities			(7,659)
Net change in cash, cash equivalents and restricted cash			56,600
Cash, cash equivalents and restricted cash at beginning of period			649,804
Cash, cash equivalents and restricted cash at end of period			706,404
Cash paid during the period for:
Interest, net of amounts capitalized			8,218
Income taxes			2,167
Supplemental disclosure of non-cash investing activities:
Additions to properties and equipment			$ 282
[1]	Refer to Note (13) for additional information regarding asset impairment charges.

CONDENSED CONSOLIDATED STATEME8

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY (Unaudited) - USD ($) $ in Thousands	Total	Common stock	Additional paid-in capital	Retained earnings	Accumulated other comprehensive loss	Non controlling interest
Balance (Predecessor) at Dec. 31, 2016	$ 1,747,564	$ 4,707	$ 171,018	$ 1,570,027	$ (6,446)	$ 8,258
Total comprehensive loss | Predecessor	(90,870)			(94,855)	(3,898)	7,883
Stock option expense/activity | Predecessor	269		269
Cancellation of restricted stock awards | Predecessor	157			157
Amortization/cancellation of restricted stock units | Predecessor	(6,061)	5	(6,066)
Balance (Predecessor) at Mar. 31, 2017	1,651,059	4,712	165,221	1,475,329	(10,344)	16,141
Balance at Dec. 31, 2017	1,021,944	22	1,059,120	(39,266)	(147)	2,215
Total comprehensive loss	(39,328)			(39,172)	(299)	143
Stock option expense/activity	(98)		(98)
Issuance of common stock	2	2
Amortization of restricted stock units	2,961		2,961
Balance at Mar. 31, 2018	$ 985,481	$ 24	$ 1,061,983	$ (78,438)	$ (446)	$ 2,358

INTERIM FINANCIAL STATEMENTS

INTERIM FINANCIAL STATEMENTS	3 Months Ended
	Mar. 31, 2018
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 Transition Report on Form 10-K for the nine month period ended December 31, 2017, filed with the SEC on March 15, 2018. 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 related to a modification of the company’s reportable segments (refer to Note 12). This reclassification did not have a material effect on the condensed consolidated statements of earnings, balance sheets or cash flows. Reorganization and Fresh Start Accounting References to "Successor" or "Successor Company" relate to the financial position and results of operations of the reorganized company subsequent to July 31, 2017. References to "Predecessor" or "Predecessor Company" relate to the financial position and results of operations of the company through July 31, 2017. On Ju ly 31, 2017, the company and certain of its subsidiaries that had been named as additional debtors in the Chapter 11 proceedings emerged Upon the company's emergence from Chapter 11 bankruptcy, the company qualified for and adopted fresh-start accounting in accordance with the provisions set forth in ASC 852, which requires the company to present its assets, liabilities, and equity as if it were a new entity upon emergence from bankruptcy. The implementation of the Plan and the application of fresh-start accounting materially changed the carrying amounts and classifications reported in the company’s consolidated financial statements and resulted in the company becoming a new entity for financial reporting purposes. As a result of the application of fresh-start accounting and the effects of the implementation of the Plan, the financial statements after July 31, 2017 are not comparable with the financial statements prior to July 31, 2017. Therefore, "black-line" financial statements are presented to distinguish between the Predecessor and Successor companies.

ACCOUNTING PRONOUNCEMENTS

ACCOUNTING PRONOUNCEMENTS	3 Months Ended
	Mar. 31, 2018
Accounting Changes And Error Corrections [Abstract]
ACCOUNTING PRONOUNCEMENTS	(2) ACCOUNTING PRONOUNCEMENTS From time to time new accounting pronouncements are issued by the FASB that are adopted by the company as of the specified effective date. Unless otherwise discussed, management believes that the impact of recently issued standards, which are not yet effective, will not have a material impact on the company’s consolidated financial statements upon adoption. In March 2017, the FASB issued ASU 2017-7, Compensation – Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Costs and Net Periodic Postretirement Benefit Costs, This new guidance amends the requirements related to the income statement presentation of the components of net periodic benefit cost for an entity’s sponsored defined benefit pension and other postretirement plans. This new guidance was effective for the company in January 2018. The adoption of this guidance required a retrospective approach and did not have a material effect on the company’s consolidated financial statements. In October 2016, the FASB issued ASU 2016-16, Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory, which removes the prohibition in ASC 740 against the immediate recognition of the current and deferred income tax effects of intra-entity transfers of assets other than inventory. This new guidance was effective for the company in January 2018. The adoption of this guidance required a modified retrospective approach In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments, In February 2016, the FASB issued ASU 2016-02, Leases, which amended guidance for lease arrangements in order to increase transparency and comparability by providing additional information to users of financial statements regarding an entity's leasing activities. The revised guidance requires lessees to recognize lease assets and lease liabilities on the balance sheet for substantially all lease arrangements. Additionally, the company’s vessel contracts may contain a lease component. During the quarter ended March 2018, the FASB proposed targeted improvements to ASU 2016-02, which provided for an optional new transition method whereby entities may prospectively adopt the ASU with cumulative catch-up and provided lessors with a practical expedient that would allow lessors to account for the combined lease and non-lease components under ASU 2014-09 when the non-lease component is the predominant element of the combined component. The new guidance is effective for the company in January 2019. As a result of the recent updates to the standard, the company is currently evaluating the impact of adopting this guidance on its consolidated financial statements. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers. ASU 2014-09 supersedes prior revenue recognition guidance and provides a five step recognition framework that requires entities to recognize the amount of revenue to which it expects to be entitled for the transfer of goods and services. This new revenue standard was effective for the company in January 2018 and was adopted using the modified retrospective approach. The company has determined that in instances where mobilization revenue (fees paid by a customer for the relocation of a vessel prior to the start of a charter contract) and customer reimbursed vessel modifications are a component of vessel charter contracts, the company should defer that revenue as a liability and recognize it consistent with the pattern of revenue recognition (primarily on a straight-line basis) over the term of the vessel’s charter. The company adopted this standard on January 1, 2018, and did not adjust the beginning accumulated deficit for deferred mobilization and demobilization revenue. T he necessary changes to the company’s business processes, systems and controls to support recognition and disclosure of this ASU upon adoption on January 1, 2018 have been implemented.

REVENUE RECOGNITION

REVENUE RECOGNITION	3 Months Ended
	Mar. 31, 2018
Revenue From Contract With Customer [Abstract]
REVENUE RECOGNITION	(3) REVENUE RECOGNITION The company’s primary source of revenue is derived from time charter contracts for which the company provides a vessel and crew on a rate per day of service basis. Services provided under respective charter contracts represent a single performance obligation satisfied over time and are comprised of a series of time increments . ct. Customers are typically billed on a monthly basis for dayrate services and payment terms are generally 30 to 45 days. Occasionally, customers pay additional lump-sum fees to the company in order to either mobilize a vessel to a new location prior to the start of a charter contract or demobilize the vessel at the end of a charter contract. Mobilizations are not considered to be a separate performance obligation, thus, the company has determined that mobilization fees are a component of the vessel’s charter contract. As such, the company defers lump-sum mobilization fees as a liability and recognizes such fees as revenue consistent with the pattern of revenue recognition (primarily on a straight-line basis) over the term of the vessel’s respective charter. Lump-sum demobilization revenue expected to be received upon contract termination is deferred as an asset and recognized ratably as revenue but only in circumstances where the receipt of the demobilization fee at the end of the contract is estimable and there is a high degree of certainty that collection will occur. Costs associated with mobilizations and demobilizations are recognized in vessel operating expense. Customers also occasionally reimburse the company for modifications to vessels in order to meet contractual requirements. These vessel modifications are not considered to be a separate performance obligation of the vessel’s charter, thus, the company records a liability for lump-sum payments made by customers for vessel modification and recognizes it as revenue consistent with the pattern of revenue recognition (primarily on a straight-line basis) over the term of the vessel’s respective charter. Total revenue is determined for each individual contract by estimating both fixed (mobilization, demobilization and vessels modifications) and variable (dayrate services) consideration expected to be earned over the contract term. The company has applied the optional exemption under the revenue standard and has not disclosed the estimated transaction price related to the variable portion of the unsatisfied performance obligation at the end of the reporting period. Prior to the adoption of this ASU, the company recognized the entire mobilization fee as revenue in the period earned and customer reimbursed vessel modifications were not reflected in earnings. Costs associated with customer-directed mobilizations and reimbursed modifications to vessels are considered costs of fulfilling a charter contract and are expected to be recovered. Mobilization costs such as crew, travel, fuel, port fees, temporary importation fees and other costs are deferred as an asset and amortized as other vessel operating expenses consistent with the pattern of revenue recognition (primarily on a straight-line basis) over the term of such vessel’s charter. Costs incurred for modifications to vessels in order to meet contractual requirements are capitalized as a fixed asset and depreciated either over the term of the respective charter contract or over the remaining estimated useful life of the vessel in instances where the modification is a permanent upgrade to the vessel and enhances its usefulness. The following table discloses the amount of revenue by segment and in total for the worldwide fleet, for the quarters ended March 31, 2018 and 2017: Successor Predecessor Quarter Ended Quarter Ended March 31, March 31, (In thousands) 2018 2017 Vessel revenues: Americas $ 26,081 80,533 Middle East/Asia Pacific 18,388 26,678 Europe/Mediterranean Sea 9,623 10,166 West Africa 33,402 39,528 87,494 156,905 Contract Balances Trade accounts receivables are recognized when revenue is earned and collectible. Contract assets include pre-contract costs, primarily related to vessel mobilizations, which have been deferred and will be amortized as other vessel expenses consistent with the pattern of revenue recognition (primarily on a straight-line basis) over the term of such vessel’s charter. Contract liabilities include payments received for mobilizations or reimbursable vessel modifications to be recognized consistent with the pattern of revenue recognition (primarily on a straight-line basis) over the term of such vessel’s charter. At March 31, 2018, the company had $0.4 million of deferred mobilization costs included within other current assets and $1.9 million of deferred capital modification revenue included within other current liabilities. The table below summarizes the revenue expected to be recognized in future quarters related to unsatisfied performance obligations as of March 31, 2018: Successor For the quarter period ended (In thousands) June 30, 2018 September 30, 2018 December 31, 2018 Total Capital modification revenue $ 776 637 497 1,910 The impact of adopting the new revenue recognition guidance on the unaudited condensed consolidated balance sheets, statement of earnings (loss) and statement of cash flows as of and for the three months ended March 31, 2018 was immaterial.

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	3 Months Ended
	Mar. 31, 2018
Equity [Abstract]
STOCKHOLDERS' EQUITY	(4) STOCKHOLDERS' EQUITY Accumulated Other Comprehensive Loss The changes in accumulated other comprehensive income (loss) by component, net of tax for the quarters ended March 31, 2018 and 2017 are as follows: For the quarter ended March 31, 2018 (Successor) For the quarter ended March 31, 2017 (Predecessor) Balance Gains/(losses) Reclasses Net Remaining Balance Gains/(losses) Reclasses Net Remaining at recognized from period balance at recognized from period balance (in thousands) 12/31/17 in OCI net income OCI 3/31/18 12/31/16 in OCI net income OCI 3/31/17 Available for sale securities 256 (660 ) 361 (299 ) (43 ) (1 ) (215 ) 121 (94 ) (95 ) Currency translation adjustment — — — — — (9,811 ) — — — (9,811 ) Pension/Post- retirement benefits (403 ) — — — (403 ) 4,683 (5,121 ) — (5,121 ) (438 ) Interest rate swap — — — — — (1,317 ) — 1,317 1,317 — Total (147 ) (660 ) 361 (299 ) (446 ) (6,446 ) (5,336 ) 1,438 (3,898 ) (10,344 ) The following table summarizes the reclassifications from accumulated other comprehensive income (loss) to the condensed consolidated statement of income for the quarters ended March 31, 2018 and 2017: Successor Predecessor Quarter Ended Quarter Ended March 31, March 31, Affected line item in the (In thousands) 2018 2017 consolidated statements of income Realized gains on available for sale securities $ 361 325 Interest income and other, net Interest rate swap — 2,140 Interest and other debt costs Total pre-tax amounts 361 2,465 Tax effect — 1,027 Total gains for the period, net of tax $ 361 1,438

INCOME TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2018
Income Tax Disclosure [Abstract]
INCOME TAXES	(5) 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 due to the level of volatility and unpredictability of earnings in our industry, both overall and by jurisdiction, use of the discrete method would continue to be proper for the period ended March 31, 2018. Income tax expense for the quarter ended March 31, 2018 reflects tax liabilities in various jurisdictions that are either based on revenue (deemed profit regimes) or pre-tax profits. The company’s balance sheet at March 31, 2018 reflects the following in accordance with Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) 740, Income Taxes March 31, (In thousands) 2018 Tax liabilities for uncertain tax positions $ 18,606 Income tax payable 604 The tax liabilities for uncertain tax positions are primarily attributable to permanent establishment issues 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 March 31, 2018, are as follows: March 31, (In thousands) 2018 Unrecognized tax benefit related to state tax issues $ 12,425 Interest receivable on unrecognized tax benefit related to state tax issues 56 As of December 31, 2017, the company’s balance sheet reflected approximately $43.2 million of net deferred tax assets with a valuation allowance of $43.2 million. For the quarter ended March 31, 2018, the company has net deferred tax assets of approximately $45.3 million prior to a valuation allowance analysis. Management assesses all available positive and negative evidence to estimate the company’s ability to generate sufficient future taxable income of the appropriate character, and in the appropriate taxing jurisdictions, to permit use of existing deferred tax assets. A significant piece of objective negative evidence is a cumulative loss incurred over a three-year period in a taxing jurisdiction. Prevailing accounting practice is that such objective evidence would limit the ability to consider other subjective evidence, such as projections for future growth. On the basis of this evaluation, a valuation allowance of $45.3 million has been recorded against net deferred tax assets which are more likely than not to be unrealized. The amount of deferred tax assets considered realizable could be adjusted if future estimates of U.S. taxable income change, or if objective negative evidence in the form of cumulative losses is no longer present and subjective evidence, such as financial projections for future growth and tax planning strategies, are given additional weight. 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 2014. The Company has ongoing examinations by various 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. On December 22, 2017, the Tax Cuts and Jobs Act (“Tax Act”) was enacted. As of March 31, 2018, the company has not completed its accounting for the tax effects of enactment of the Tax Act. The Securities and Exchange Commission issued Staff Accounting Bulletin No. 118, or SAB 118, to address the accounting and reporting of the Tax Act. SAB 118 allows companies to take a reasonable period, which should not extend beyond one year from enactment of the Tax Act, to measure and recognize the effects of the new tax law. For various reasons discussed further below, we have not yet completed the accounting for the income tax effects of certain elements of the Tax Act. However, we were able to make reasonable estimates of certain effects and, therefore, recorded provisional adjustments as discussed below: Reduction of US federal corporate tax rate : The Tax Act reduces the corporate tax rate to 21 percent effective January 1, 2018. Therefore, the company made a reasonable estimate of the effects on existing deferred tax balances as of December 31, 2017. While we were able to make a reasonable estimate of the impact of the reduction in corporate rate, it may be affected by other analyses related to the Tax Act, including, but not limited to, our calculation of the one-time transition tax. During the three month period ended March 31, 2018, we recognized no adjustments to the provisional amounts recorded at December 31, 2017. One Time Transition Tax: The deemed repatriation transition tax is a tax on previously untaxed accumulated and current earnings and profits (E&P) of certain of our foreign subsidiaries. To determine the amount of the transition tax, we must determine, in addition to other factors, the amount of post-1986 E&P of the relevant subsidiaries. We were able to make a reasonable estimate of the one-time transition tax and recognized a provisional deemed dividend inclusion at December 31, 2017. During the three month period ended March 31, 2018, we recognized no adjustments to the provisional amounts recorded at December 31, 2017. Global Intangible Low-taxed Income (“GILTI”): The company continues to evaluate the impacts of the newly enacted GILTI provisions which subject the company’s foreign earnings to a minimum level of tax. Because of the complexities of the new legislation, the company has not elected an accounting policy for GILTI at this time. Recent FASB guidance indicates that accounting for GILTI either as part of deferred taxes or as a period cost are both acceptable methods. Once further information is gathered and interpretation and analysis of the tax legislation evolves, the company will make an appropriate accounting method election. For the three month period ended March 31, 2018, we were able to make a reasonable estimate of GILTI and do not expect that it will have a material impact on our 2018 financial statements. Base Erosion Anti-abuse Tax (“BEAT”) : the BEAT provisions in the Tax Act eliminate the deduction of certain base-erosion payments made to related foreign corporations beginning in 2018. For the three month period ended March 31, 2018, we are in the process of analyzing the impact of BEAT and have provisionally concluded that we are below the required thresholds defined in the Tax Act. Therefore, we do not expect BEAT to have a material impact on our 2018 financial statements. Foreign-Derived Intangible Income (“FDII ”): the FDII provisions in the Tax Act provide tax incentives to US companies to earn income from the sale, lease or license of goods and services abroad in the form of a deduction for foreign-derived intangible income. For the three month period ended March 31, 2018, we are in the process of analyzing the impact of FDII and have provisionally concluded FDII will be inapplicable in 2018 due to our net operating loss position. Therefore, we do not expect FDII to have a material impact on our 2018 financial statements. Executive Compensation: The Tax Act expanded the number of individuals whose compensation is subject to a $1 million cap on deductibility under Section 162(m) and repealed the exclusion for performance-based compensation. For the three month period ended March 31, 2018, we were able to make a reasonable estimate of the impact of the executive compensation changes and do not expect those changes to have a material impact on our 2018 financial statements. Interest Expense Limitation: The Tax Act limits the deduction for net interest expense that exceeds 30% of the adjusted taxable income for the year under IRC Section 163(j). For the three month period ended March 31, 2018, we were able to make a reasonable estimate of the interest expense limitation and have included the resulting limitation of approximately $2 million before consideration of the valuation allowance in the financial statements. We recorded this adjustment as of March 31, 2018; however because of the offsetting adjustment to our valuation allowance we estimate no impact to 2018 net income as a result of this provision.

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS	3 Months Ended
	Mar. 31, 2018
Compensation And Retirement Disclosure [Abstract]
EMPLOYEE BENEFIT PLANS	(6) EMPLOYEE BENEFIT PLANS U.S. Defined Benefit Pension Plan The company has a defined benefit pension plan (pension plan) that covers certain U.S. citizen employees and other employees who are permanent residents of the United States. Effective April 1, 1996, the pension plan was closed to new participation. In December 2009, the Board of Directors amended the pension plan to discontinue the accrual of benefits on December 31, 2010. This change did not affect benefits earned by participants prior to January 1, 2011. The company did not contribute to the pension plan during the quarters ended March 31, 2018 and 2017, and currently does not expect to contribute to the pension plan during the remaining quarters of calendar year 2018. Supplemental Executive Retirement Plan The company maintains a non-contributory, defined benefit supplemental executive retirement plan (supplemental plan) that provides pension benefits to certain employees in excess of those allowed under the company’s tax-qualified pension plan. A Rabbi Trust has been established for the benefit of participants in the supplemental plan. The Rabbi Trust assets, which are invested in a variety of marketable securities (but not the company’s stock), are recorded at fair value with unrealized gains or losses included in accumulated other comprehensive income (loss). Effective March 4, 2010, the supplemental plan was closed to new participation. The supplemental plan is a non-qualified plan and, as such, the company is not required to make contributions to the supplemental plan. The company contributed an immaterial amount to the supplemental plan during the quarters ended March 31, 2018 and 2017. $ Investments held in a 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 March 31, 2018 and December 31, 2017: Successor March 31, December 31, (In thousands) 2018 2017 Investments held in Rabbi Trust at fair value $ 8,809 8,908 Unrealized gains (losses) in fair value of trust assets (43 ) 256 Obligations under the supplemental plan 32,581 32,508 The company’s obligations under the supplemental plan are included in ‘accrued expenses’ and ‘other liabilities’ on the consolidated balance sheet. Jeffrey M. Platt retired from his position as the Company’s President and Chief Executive Officer and resigned as a member of the Company’s board of directors (the “Board”), effective October 15, 2017. As a result of Mr. Platt’s retirement, he received in May 2018 an $8.9 million lump sum distribution in settlement of his supplemental executive retirement plan obligation. A settlement loss of approximately $0.2 million was recorded at the time of distribution. The company elected to sell its equity investments held in the rabbi trust in February 2018 in order to preserve the value of such investment to be used in connection with the payment to the former CEO. 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. The company eliminated the life insurance portion of its post retirement benefit effective January 1, 2018. 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: Successor Predecessor Quarter Ended Quarter Ended March 31, March 31, (In thousands) 2018 2017 Pension Benefits: Service cost $ 30 419 Interest cost 902 991 Expected return on plan assets (483 ) (601 ) Administrative expenses 1 22 Payroll tax of net pension costs — 56 Amortization of net actuarial losses — 32 Recognized actuarial loss — 447 Net periodic pension cost $ 450 1,366 Other Benefits: Service cost $ 15 21 Interest cost 29 51 Amortization of prior service cost (75 ) (1,088 ) Recognized actuarial benefit 11 (283 ) Net periodic postretirement benefit $ (20 ) (1,299 ) The company also has a defined benefit pension plan that covers certain Norwegian citizen employees and other employees who are permanent residents of Norway. Benefits are based on years of service and employee compensation. The company did not contribute to the Norwegian defined benefit pension plan during the quarters ended March 31, 2018 and 2017, respectively. Management is working with its actuary to determine the contribution to the Norwegian pension plan during the remaining quarters of calendar year 2018. The preceding net periodic benefit cost table includes the Norwegian pension plan.

INDEBTEDNESS

INDEBTEDNESS	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
INDEBTEDNESS	(7) INDEBTEDNESS The following is a summary of all debt outstanding at March 31, 2018 and December 31, 2017: March 31, December 31, (In thousands) 2018 2017 New secured notes: 8.00% New secured notes due August 2022 (A) 349,954 350,000 Troms Offshore borrowings (B): NOK denominated notes due May 2024 14,669 14,054 NOK denominated notes due January 2026 26,303 25,965 USD denominated notes due January 2027 22,729 23,345 USD denominated notes due April 2027 25,463 25,463 $ 439,118 438,827 Debt premiums and discounts, net 8,826 9,333 Less: Current portion of long-term debt 5,215 5,103 Total long-term debt $ 442,729 443,057 (A) As of March 31, 2018 and December 31, 2017 the fair value (Level 2) of the New Secured Notes was $358.7 million and $359.8 million, respectively. (B) The company pays principal and interest on these notes semi-annually. As of March 31, 2018 and December 31, 2017, the aggregate fair value (Level 2) of the Troms Offshore borrowings was $89.2 million and $88.5 million, respectively. The weighted average interest rate of the Troms Offshore borrowings as of March 31, 2018 was 5.01%. New Secured Notes Tender Offer Pursuant to the New Secured Notes indenture dated July 31, 2017, among the company, each of the guarantors party thereto, and Wilmington Trust, National Association, as Trustee and Collateral Agent (the “Indenture”) governing the Notes, the company is required to make cash offers to the registered or beneficial holders (the “Holders” and each, a “Holder”) of the Notes within 60 days of the date that the net proceeds realized by the company from Asset Sales (as defined in the Indenture, but which generally equates to 65% of the proceeds from Asset Sales, net of any commission paid) exceed $10 million (the “Asset Sale Threshold”). Since the issuance of the Notes, the company executed certain Asset Sales and on December 19, 2017, the aggregate net proceeds realized from such Asset Sales exceeded the Asset Sale Threshold, which triggered the obligation under the Indenture for the company to commence the Offer. On February 2, 2018, the company commenced an offer to purchase (the “Offer”) up to $24.70 million aggregate principal amount (the “Offer Amount”) of its outstanding 8.00% senior secured notes due 2022 (the “Notes”) for cash. On March 7, 2018, we purchased $46,023 aggregate principal amount of the Notes that were validly tendered in accordance with the terms and conditions of the Offer. Holders who timely and validly tendered their Notes received consideration of $1.00 per $1.00 principal amount of Notes, plus accrued and unpaid interest on those Notes up to, but excluding the settlement date, in accordance with the terms of the Offer. The aggregate principal amount of tendered and accepted Notes was less than the Offer Amount. Cash in an amount equal to the difference between the Offer Amount and the principal amount of the Notes accepted for tender (or $24.65 million), is now available for use by the company in any manner not prohibited by the Indenture and is no longer shown as restricted cash on the balance sheet. 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 ended March 31 2018 and 2017. Successor Predecessor Quarter Ended Quarter Ended March 31, March 31, (In thousands) 2018 2017 Interest and debt costs incurred, net of interest capitalized $ 7,599 21,008 Interest costs capitalized 174 1,217 Total interest and debt costs $ 7,773 22,225

LOSS PER SHARE

LOSS PER SHARE	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
LOSS PER SHARE	(8) LOSS PER SHARE The components of basic and diluted loss per share for the quarters ended March 31, are as follows: Successor Predecessor Quarter Ended Quarter Ended March 31, March 31, (In thousands, except share and per share data) 2018 2017 Net loss available to common shareholders $ (39,172 ) (94,855 ) Weighted average outstanding shares of common stock, basic (A) 23,424,943 47,080,783 Dilutive effect of options, warrants and restricted stock awards and units — — Weighted average shares of common stock and equivalents 23,424,943 47,080,783 Loss per share, basic (A) $ (1.67 ) (2.01 ) Loss per share, diluted (B) $ (1.67 ) (2.01 ) Additional information: Incremental "in-the-money" options, warrants and restricted stock awards and units at the end of the period (D) 6,255,686 1,233 (A) Basic weighted average shares outstanding includes 108,044 shares issuable upon the exercise of New Creditor Warrants held by U.S. citizens at March 31, 2018 (Successor). Common shares and new creditor warrants and the sum of common shares and New Creditor Warrants outstanding at March 31, 2018 were 23,988,075, 6,021,696 and 30,009,771, respectively. (B) The company calculates “Loss per share, basic” by dividing “Net loss available to common shareholders” by “Weighted average outstanding shares of common stock, basic”. (C) The company calculates “Loss per share, diluted” by dividing “Net loss available to common shareholders” by “Weighted average common stock and equivalents ”. (D) For the three months ended March 31, 2018, the company also had 5,062,089 shares of “out-of- the-money” warrants outstanding at the end of the period.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2018
Commitments And Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	(9) COMMITMENTS AND CONTINGENCIES Vessel and Other Commitments The company has $4.2 million in unfunded capital commitments associated with one 5,400 deadweight ton (DWT) deepwater platform supply vessel (PSV) under construction at March 31, 2018. The total cost of the new-build vessel includes contract costs and other incidental costs. Sonatide Joint Venture The company has previously disclosed the significant financial and operational challenges that it confronts with respect to its 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: (i) reducing the net receivable balance due to the company from Sonatide, its Angolan joint venture with Sonangol, for vessel services; (ii) 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 (iii) optimizing opportunities, consistent with Angolan law, for services provided by the company to 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 March 31, 2018 and December 31, 2017 of approximately $208 million and $230 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 $26 million of the balance at March 31, 2018 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 approximately $103 million of cash held by Sonatide, of which the equivalent of $66 million is denominated in Angolan kwanzas, pending conversion into U.S. dollars and subsequent expatriation. In addition, the company owes Sonatide the aggregate sum of approximately $78 million, including $38 million in commissions payable by the company to Sonatide. The company monitors the aggregate amounts due from Sonatide relative to the amounts due to Sonatide. For the three months ended March 31, 2018, the company collected (primarily through Sonatide) approximately $8 million from its Angolan operations. Of the $8 million collected, approximately $6 million were U.S. dollars received by Sonatide on behalf of the company or U.S. dollars received directly by the company from customers. The balance of $2 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 $27 million during the three months ended March 31, 2018 through netting transactions based on an agreement with the joint venture. Amounts due to Sonatide (Due to affiliate in the consolidated balance sheets) at March 31, 2018 and December 31, 2017 of approximately $78 million and $99 million, respectively, represents amounts due to Sonatide for commissions payable and other costs paid by Sonatide on behalf of the company. The company believes that the process for converting Angolan kwanzas continues to function, but the relative scarcity of U.S. dollars in Angola continues to hinder the conversion process. 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 three month period ended March 31, 2018, the company’s Angolan operations generated vessel revenues of approximately $14 million, or 16%, of its consolidated vessel revenue, from an average of approximately 40 company-owned vessels that are marketed through the Sonatide joint venture (18 of which were stacked on average during the three months ended March 31, 2018). For the three months ended March 31, 2017, the company’s Angolan operations generated vessel revenues of approximately $26 million, or 17%, of consolidated vessel revenue, from an average of approximately 55 company-owned vessels (24 of which were stacked on average during the three months ended March 31, 2017). In addition to vessels that Sonatide charters from Tidewater, Sonatide owns seven vessels (four of which are currently stacked) and certain other assets, in addition to earning commission from company-owned vessels marketed through the Sonatide joint venture (owned 49% by the company). As of March 31, 2018 and December 31, 2017, 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 $12 million and $27 million, respectively. During the quarter ended March 31, 2018, the exchange rate of the Angolan kwanza versus the U.S. dollar was devalued from a ratio of approximately 168 to 1 to a ratio of approximately 214 to 1, or approximately 27%. As a result, the company recognized 49% of the total foreign exchange loss, or approximately $14.8 million through equity in net earnings (losses) of unconsolidated companies. Management continues to explore ways to profitably participate in the Angolan market while evaluating opportunities to reduce the overall level of exposure to the increased risks that the company believes 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 since March 31, 2017 Company-owned vessels operating in Angola decreased by 47 vessels, from March 31, 2014 to March 31, 2018 (from 85 vessels to 38 vessels). Company-owned active vessels decreased in the same period by 58 vessels (from 79 vessels to 21 vessels). Brazilian Customs In April 2011, two Brazilian subsidiaries of the company were March 31, 2018 company The company is vigorously contesting these fines (which it has neither paid nor accrued ). Based March 31, 2018 and deposited 6 million Brazilian reais (approximately $1.8 million as of March 31, 2018) with the court. The 6 million Brazilian reais deposit represents the amount of the award and the substantial interest that would be due if the company did not prevail in this court action. The court action is in its initial stages. March 31, 2018 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 filings made in or prior to fiscal 2015 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. In connection with two of our amended filings, CBP assessed penalties, which the company paid after CBP granted mitigation and reduced the amount of each civil penalty. The amount paid in civil penalties was not material. It is possible that CBP may seek to impose further civil penalties or fines in connection with some or all of the other amended filings that could be material. 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. For more information regarding the reduction in the company’s investment balance as a result of currency devaluation, please refer to the section of Note (9) entitled Sonatide Joint Venture. Legal Proceedings Arbitral Award for the Taking of the Company’s Venezuelan Operations Committees formed under the rules of the World Bank’s International Centre for Settlement of Investment Disputes (“ICSID”) have awarded two subsidiaries of the company compensation for the expropriation of the investments of the two subsidiaries by the Bolivarian Republic of Venezuela. The nature of the investments expropriated and the progress of the ICSID proceeding were previously reported by the company in prior filings. The final aggregate award is $56.7 million as of March 31, 2018 and accrues interest at approximately $0.6 million per quarter. The committees’ decisions are not subject to any further ICSID review, appeal or other substantive proceeding or any stay of enforcement. 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 had the award recognized and entered as a judgment by the United States District Court for the Southern District of New York. A recent federal court of appeals decision resulted in that judgment being vacated for reasons related to service of process. The company has initiated a separate court action in Washington, D.C. using a different service of process method and expects to be successful in having the award recognized in the Washington, D.C. court. In addition, the award has been recognized and entered in November 2016 as a final judgment of the High Court of Justice of England and Wales. Even with the likely eventual recognition of the award in the United States and the current recognition by the court in the United Kingdom, the company recognizes that collection of the award presents 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 . 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	3 Months Ended
	Mar. 31, 2018
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	(10) FAIR VALUE MEASUREMENTS Assets and Liabilities Measured at Fair Value on a Recurring Basis The company’s 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 March 31, 2018 (Successor): 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 $ — — — — — Debt securities 3,318 834 836 — 1,648 Cash and cash equivalents 5,491 47 121 — 5,323 Total $ 8,809 881 957 — 6,971 Other pending transactions — — — — — Total fair value of plan assets $ 8,809 881 957 — 6,971 The following table provides the fair value hierarchy for the supplemental plan assets measured at fair value as of December 31, 2017 (Successor): 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 $ 5,295 5,295 — — — Debt securities 3,368 851 841 — 1,676 Cash and cash equivalents 246 27 170 — 49 Total $ 8,909 6,173 1,011 — 1,725 Other pending transactions (1 ) (1 ) — — — Total fair value of plan assets $ 8,908 6,172 1,011 — 1,725 Other Financial Instruments The company’s primary financial instruments consist of cash, cash equivalents and restricted cash, 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 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 following table provides the fair value hierarchy for the company’s other financial instruments measured as of March 31, 2018 (Successor): Significant Significant Quoted prices in observable unobservable active markets inputs inputs (In thousands) Total (Level 1) (Level 2) (Level 3) Cash equivalents $ 407,302 407,302 — — Total fair value of assets $ 407,302 407,302 — — The following table provides the fair value hierarchy for the company’s other financial instruments measured as of December 31, 2017 (Successor): Significant Significant Quoted prices in observable unobservable active markets inputs inputs (In thousands) Total (Level 1) (Level 2) (Level 3) Cash equivalents $ 399,322 399,322 — — Total fair value of assets $ 399,322 399,322 — — For disclosures related to assets and liabilities measured at fair value on a nonrecurring basis refer to Note (13).

OTHER CURRENT ASSETS, PROPERTIE

OTHER CURRENT ASSETS, PROPERTIES AND EQUIPMENT, OTHER ASSETS, ACCRUED EXPENSES, OTHER CURRENT LIABILITIES AND OTHER LIABILITIES AND DEFERRED CREDITS	3 Months Ended
	Mar. 31, 2018
Other Current Assets Properties And Equipment Other Assets Accrued Expenses Other Current Liabilities And Other Non Current Liabilities And Deferred Credits [Abstract]
OTHER CURRENT ASSETS, PROPERTIES AND EQUIPMENT, OTHER ASSETS, ACCRUED EXPENSES, OTHER CURRENT LIABILITIES AND OTHER LIABILITIES AND DEFERRED CREDITS	(11) OTHER CURRENT ASSETS, PROPERTIES AND EQUIPMENT, OTHER ASSETS, ACCRUED EXPENSES, OTHER CURRENT LIABILITIES AND OTHER LIABILITIES A summary of other current assets at March 31, 2018 and December 31, 2017 is as follows: Successor March 31, December 31, (In thousands) 2018 2017 Deposits $ 1,634 1,780 Investments held in rabbi trust (A) 8,809 8,908 Prepaid expenses 7,738 8,442 $ 18,181 19,130 (A) The company converted all investments held in the rabbi trust to cash to fund a lump sum benefit to the former CEO in May 2018. Refer to Note (6) for more information regarding this payment. A summary of net properties and equipment at March 31, 2018 and December 31, 2017 is as follows: Successor March 31, December 31, (In thousands) 2018 2017 Properties and equipment: Vessels and related equipment $ 836,666 850,268 Other properties and equipment 5,536 5,710 842,202 855,978 Less accumulated depreciation and amortization 27,939 18,458 Net properties and equipment $ 814,263 837,520 A summary of other assets at March 31, 2018 and December 31, 2017 is as follows: Successor March 31, December 31, (In thousands) 2018 2017 Recoverable insurance losses $ 2,495 2,405 Investments held for supplemental savings plan accounts 6,554 6,583 Long-term deposits 16,035 16,217 Other 5,699 5,847 $ 30,783 31,052 A summary of accrued expenses at March 31, 2018 and December 31, 2017 is as follows: Successor March 31, December 31, (In thousands) 2018 2017 Payroll and related payables (B) $ 17,369 17,344 Commissions payable (C) 2,146 1,898 Accrued vessel expenses 28,876 27,222 Accrued interest expense 5,958 6,036 Other accrued expenses 2,059 2,306 $ 56,408 54,806 (B) Includes an $8.9 million payable to the former CEO which was paid in May 2018. (C) Excludes $37.6 million and $36.4 million of commissions due to Sonatide at March 31, 2018 and December 31, 2017, respectively. These amounts are included in amounts due to affiliate. A summary of other current liabilities at March 31, 2018 and December 31, 2017 is as follows: Successor March 31, December 31, (In thousands) 2018 2017 Taxes payable $ 6,341 10,326 Amounts payable to holders of General Unsecured Claims — 8,474 Other 2,485 893 $ 8,826 19,693 A summary of other liabilities at March 31, 2018 and December 31, 2017 is as follows: Successor March 31, December 31, (In thousands) 2018 2017 Postretirement benefits liability $ 2,524 2,642 Pension liabilities 36,420 36,614 Deferred supplemental savings plan liability 6,557 6,592 Other 12,559 12,728 $ 58,060 58,576

SEGMENT AND GEOGRAPHIC DISTRIBU

SEGMENT AND GEOGRAPHIC DISTRIBUTION OF OPERATIONS	3 Months Ended
	Mar. 31, 2018
Segment Reporting [Abstract]
SEGMENT AND GEOGRAPHIC DISTRIBUTION OF OPERATIONS	(12) SEGMENT AND GEOGRAPHIC DISTRIBUTION OF OPERATIONS During the quarter ended March 31, 2018 the company’s Africa/Europe segment was split as a result of management realignment such that the company’s operations in Europe and Mediterranean Sea regions and the company’s West African regions are now separately reported segments. As such, the company now discloses these new segments as Europe/Mediterranean Sea and West Africa, respectively. The company’s Americas and Middle East/Asia Pacific segments are not affected by this change. This new segment alignment is consistent with how the company’s chief operating decision maker reviews operating results for the purposes of allocating resources and assessing performance. Prior year 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 ended March 31, 2018 and 2017. Vessel revenues and operating costs relate to vessels owned and operated by the company while other operating revenues relate to brokered vessels and other miscellaneous marine-related businesses. Successor Predecessor Quarter Ended Quarter Ended March 31, March 31, (In thousands) 2018 2017 Revenues: Vessel revenues: Americas $ 26,081 80,533 Middle East/Asia Pacific 18,388 26,678 Europe/Mediterranean Sea 9,623 10,166 West Africa 33,402 39,528 87,494 156,905 Other operating revenues (A) 3,999 3,844 $ 91,493 160,749 Vessel operating profit (loss): Americas $ 4,911 30,618 Middle East/Asia Pacific (2,253 ) (6,164 ) Europe/Mediterranean Sea (3,554 ) (7,102 ) West Africa (1,753 ) (5,353 ) (2,649 ) 11,999 Other operating profit (loss) 1,506 (225 ) (1,143 ) 11,774 Corporate general and administrative expenses (6,684 ) (21,757 ) Corporate depreciation (100 ) (564 ) Corporate expenses (6,784 ) (22,321 ) Gain on asset dispositions, net 1,919 6,064 Asset impairments (B) (6,186 ) (64,857 ) Operating loss $ (12,194 ) (69,340 ) Foreign exchange gain (loss) (348 ) 664 Equity in net earnings (losses) of unconsolidated companies (15,439 ) 2,841 Interest income and other, net (128 ) 1,588 Interest and other debt costs, net (7,599 ) (21,008 ) Loss before income taxes $ (35,708 ) (85,255 ) Depreciation and amortization: Americas $ 3,313 11,297 Middle East/Asia Pacific 2,769 8,499 Europe/Mediterranean Sea 1,804 6,561 West Africa 4,026 9,816 11,912 36,173 Other 5 855 Corporate 100 564 $ 12,017 37,592 Additions to properties and equipment: Americas $ 1,037 — Middle East/Asia Pacific 423 1,025 Europe/Mediterranean Sea — — West Africa 1 94 1,461 1,119 Other — — Corporate (C) 217 6,954 $ 1,678 8,073 (A) Included in other operating revenues for the quarter ended March 31, 2017, were $0.3 million of revenues related to the company’s subsea business. The eight ROVs representing substantially all of the company’s subsea assets were sold in December 2017 . (B) Refer to Note (13) for additional information regarding asset impairment charges. (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 March 31, 2018 and December 31, 2017: March 31, December 31, (In thousands) 2018 2017 Total assets: Americas $ 172,536 164,958 Middle East/Asia Pacific 21,977 48,268 Europe/Mediterranean Sea 170,420 171,157 West Africa 858,776 864,299 1,223,709 1,248,682 Other 465 2,443 1,224,174 1,251,125 Investments in, at equity, and advances to unconsolidated companies 13,503 29,216 1,237,677 1,280,341 Corporate (A) 448,371 465,839 $ 1,686,048 1,746,180 (A) Included in Corporate are vessels currently under construction which have not yet been assigned to a non-corporate reporting segment. A vessel’s construction costs are reported in Corporate until the earlier of the date the vessel is assigned to a non-corporate reporting segment or the date it is delivered. At March 31, 2018 and December 31, 2017, $9.5 million and $9.3 million, respectively, of vessel construction costs are included in Corporate. The following table discloses the amount of revenue by segment, and in total for the worldwide fleet, along with the respective percentage of total vessel revenue for the quarters ended March 31, 2018 (Successor) and March 31, 2017 (Predecessor): Successor Predecessor Quarter Ended Quarter Ended March 31, 2018 March 31, 2017 Vessel revenue by vessel class (In thousands) % of Vessel Revenue % of Vessel Revenue Americas fleet: Deepwater $ 16,205 19 % 62,831 40 % Towing-supply 6,846 8 % 14,738 9 % Other 3,030 3 % 2,964 2 % Total $ 26,081 30 % 80,533 51 % Middle East/Asia Pacific fleet: Deepwater $ 9,564 11 % 9,433 6 % Towing-supply 8,824 10 % 17,245 11 % Other — — — — Total $ 18,388 21 % 26,678 17 % Europe/Mediterranean Sea fleet: Deepwater $ 9,020 10 % 9,853 7 % Towing-supply 603 1 % 322 <1 % Other — — (9 ) (<1 %) Total $ 9,623 11 % 10,166 7 % West Africa fleet: Deepwater $ 13,938 16 % 13,179 8 % Towing-supply 16,139 18 % 22,472 15 % Other 3,325 4 % 3,877 2 % Total $ 33,402 38 % 39,528 25 % Worldwide fleet: Deepwater $ 48,727 56 % 95,296 61 % Towing-supply 32,412 37 % 54,777 35 % Other 6,355 7 % 6,832 4 % Total $ 87,494 100 % 156,905 100 %

ASSET IMPAIRMENTS

ASSET IMPAIRMENTS	3 Months Ended
	Mar. 31, 2018
Asset Impairment Charges [Abstract]
ASSET IMPAIRMENTS	(13) 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 and 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. 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. The below table summarizes the combined fair value of the assets that incurred impairments during the quarters ended March 31, 2018 and 2017, along with the amount of impairment. Successor Predecessor Quarter Ended Quarter Ended March 31, March 31, (In thousands, except number of vessels impaired) 2018 2017 Number of vessels impaired in the period (A) 13 28 Amount of impairment incurred $ 6,186 64,857 Combined fair value of assets incurring impairment $ 28,322 206,450 (A) For the quarter ended March 31, 2018, there were 13 stacked vessels impaired, and for the quarter ended March 31, 2017, there were 25 stacked vessels and 3 active vessels impaired.

INTERIM FINANCIAL STATEMENTS (P

INTERIM FINANCIAL STATEMENTS (Policies)	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Reorganization and Fresh Start Accounting	Reorganization and Fresh Start Accounting References to "Successor" or "Successor Company" relate to the financial position and results of operations of the reorganized company subsequent to July 31, 2017. References to "Predecessor" or "Predecessor Company" relate to the financial position and results of operations of the company through July 31, 2017. On Ju ly 31, 2017, the company and certain of its subsidiaries that had been named as additional debtors in the Chapter 11 proceedings emerged Upon the company's emergence from Chapter 11 bankruptcy, the company qualified for and adopted fresh-start accounting in accordance with the provisions set forth in ASC 852, which requires the company to present its assets, liabilities, and equity as if it were a new entity upon emergence from bankruptcy. The implementation of the Plan and the application of fresh-start accounting materially changed the carrying amounts and classifications reported in the company’s consolidated financial statements and resulted in the company becoming a new entity for financial reporting purposes. As a result of the application of fresh-start accounting and the effects of the implementation of the Plan, the financial statements after July 31, 2017 are not comparable with the financial statements prior to July 31, 2017. Therefore, "black-line" financial statements are presented to distinguish between the Predecessor and Successor companies.

REVENUE RECOGNITION (Tables)

REVENUE RECOGNITION (Tables)	3 Months Ended
	Mar. 31, 2018
Revenue From Contract With Customer [Abstract]
Schedule of Segment Reporting Information, Revenue by Vessel	The following table discloses the amount of revenue by segment and in total for the worldwide fleet, for the quarters ended March 31, 2018 and 2017: Successor Predecessor Quarter Ended Quarter Ended March 31, March 31, (In thousands) 2018 2017 Vessel revenues: Americas $ 26,081 80,533 Middle East/Asia Pacific 18,388 26,678 Europe/Mediterranean Sea 9,623 10,166 West Africa 33,402 39,528 87,494 156,905
Summarizes The Revenue Expected to be Recognized in Future Related to Unsatisfied Performance Obligations	The table below summarizes the revenue expected to be recognized in future quarters related to unsatisfied performance obligations as of March 31, 2018: Successor For the quarter period ended (In thousands) June 30, 2018 September 30, 2018 December 31, 2018 Total Capital modification revenue $ 776 637 497 1,910

STOCKHOLDERS' EQUITY (Tables)

STOCKHOLDERS' EQUITY (Tables)	3 Months Ended
	Mar. 31, 2018
Equity [Abstract]
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 ended March 31, 2018 and 2017 are as follows: For the quarter ended March 31, 2018 (Successor) For the quarter ended March 31, 2017 (Predecessor) Balance Gains/(losses) Reclasses Net Remaining Balance Gains/(losses) Reclasses Net Remaining at recognized from period balance at recognized from period balance (in thousands) 12/31/17 in OCI net income OCI 3/31/18 12/31/16 in OCI net income OCI 3/31/17 Available for sale securities 256 (660 ) 361 (299 ) (43 ) (1 ) (215 ) 121 (94 ) (95 ) Currency translation adjustment — — — — — (9,811 ) — — — (9,811 ) Pension/Post- retirement benefits (403 ) — — — (403 ) 4,683 (5,121 ) — (5,121 ) (438 ) Interest rate swap — — — — — (1,317 ) — 1,317 1,317 — Total (147 ) (660 ) 361 (299 ) (446 ) (6,446 ) (5,336 ) 1,438 (3,898 ) (10,344 )
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 ended March 31, 2018 and 2017: Successor Predecessor Quarter Ended Quarter Ended March 31, March 31, Affected line item in the (In thousands) 2018 2017 consolidated statements of income Realized gains on available for sale securities $ 361 325 Interest income and other, net Interest rate swap — 2,140 Interest and other debt costs Total pre-tax amounts 361 2,465 Tax effect — 1,027 Total gains for the period, net of tax $ 361 1,438

INCOME TAXES (Tables)

INCOME TAXES (Tables)	3 Months Ended
	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Schedule of Uncertain Tax Positions and Income Tax Payable	The company’s balance sheet at March 31, 2018 reflects the following in accordance with Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) 740, Income Taxes March 31, (In thousands) 2018 Tax liabilities for uncertain tax positions $ 18,606 Income tax payable 604
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 March 31, 2018, are as follows: March 31, (In thousands) 2018 Unrecognized tax benefit related to state tax issues $ 12,425 Interest receivable on unrecognized tax benefit related to state tax issues 56

EMPLOYEE BENEFIT PLANS (Tables)

EMPLOYEE BENEFIT PLANS (Tables)	3 Months Ended
	Mar. 31, 2018
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 March 31, 2018 and December 31, 2017: Successor March 31, December 31, (In thousands) 2018 2017 Investments held in Rabbi Trust at fair value $ 8,809 8,908 Unrealized gains (losses) in fair value of trust assets (43 ) 256 Obligations under the supplemental plan 32,581 32,508
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: Successor Predecessor Quarter Ended Quarter Ended March 31, March 31, (In thousands) 2018 2017 Pension Benefits: Service cost $ 30 419 Interest cost 902 991 Expected return on plan assets (483 ) (601 ) Administrative expenses 1 22 Payroll tax of net pension costs — 56 Amortization of net actuarial losses — 32 Recognized actuarial loss — 447 Net periodic pension cost $ 450 1,366 Other Benefits: Service cost $ 15 21 Interest cost 29 51 Amortization of prior service cost (75 ) (1,088 ) Recognized actuarial benefit 11 (283 ) Net periodic postretirement benefit $ (20 ) (1,299 )

INDEBTEDNESS (Tables)

INDEBTEDNESS (Tables)	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Summary of Debt Outstanding	The following is a summary of all debt outstanding at March 31, 2018 and December 31, 2017: March 31, December 31, (In thousands) 2018 2017 New secured notes: 8.00% New secured notes due August 2022 (A) 349,954 350,000 Troms Offshore borrowings (B): NOK denominated notes due May 2024 14,669 14,054 NOK denominated notes due January 2026 26,303 25,965 USD denominated notes due January 2027 22,729 23,345 USD denominated notes due April 2027 25,463 25,463 $ 439,118 438,827 Debt premiums and discounts, net 8,826 9,333 Less: Current portion of long-term debt 5,215 5,103 Total long-term debt $ 442,729 443,057 (A) As of March 31, 2018 and December 31, 2017 the fair value (Level 2) of the New Secured Notes was $358.7 million and $359.8 million, respectively. (B) The company pays principal and interest on these notes semi-annually. As of March 31, 2018 and December 31, 2017, the aggregate fair value (Level 2) of the Troms Offshore borrowings was $89.2 million and $88.5 million, respectively. The weighted average interest rate of the Troms Offshore borrowings as of March 31, 2018 was 5.01%.
Debt Costs	The following is a summary of interest and debt costs incurred, net of interest capitalized, for the quarters ended March 31 2018 and 2017. Successor Predecessor Quarter Ended Quarter Ended March 31, March 31, (In thousands) 2018 2017 Interest and debt costs incurred, net of interest capitalized $ 7,599 21,008 Interest costs capitalized 174 1,217 Total interest and debt costs $ 7,773 22,225

LOSS PER SHARE (Tables)

LOSS PER SHARE (Tables)	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
Components of Basic and Diluted Loss Per Share	The components of basic and diluted loss per share for the quarters ended March 31, are as follows: Successor Predecessor Quarter Ended Quarter Ended March 31, March 31, (In thousands, except share and per share data) 2018 2017 Net loss available to common shareholders $ (39,172 ) (94,855 ) Weighted average outstanding shares of common stock, basic (A) 23,424,943 47,080,783 Dilutive effect of options, warrants and restricted stock awards and units — — Weighted average shares of common stock and equivalents 23,424,943 47,080,783 Loss per share, basic (A) $ (1.67 ) (2.01 ) Loss per share, diluted (B) $ (1.67 ) (2.01 ) Additional information: Incremental "in-the-money" options, warrants and restricted stock awards and units at the end of the period (D) 6,255,686 1,233 (A) Basic weighted average shares outstanding includes 108,044 shares issuable upon the exercise of New Creditor Warrants held by U.S. citizens at March 31, 2018 (Successor). Common shares and new creditor warrants and the sum of common shares and New Creditor Warrants outstanding at March 31, 2018 were 23,988,075, 6,021,696 and 30,009,771, respectively. (B) The company calculates “Loss per share, basic” by dividing “Net loss available to common shareholders” by “Weighted average outstanding shares of common stock, basic”. (C) The company calculates “Loss per share, diluted” by dividing “Net loss available to common shareholders” by “Weighted average common stock and equivalents ”. (D) For the three months ended March 31, 2018, the company also had 5,062,089 shares of “out-of- the-money” warrants outstanding at the end of the period.

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	3 Months Ended
	Mar. 31, 2018
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 March 31, 2018 (Successor): 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 $ — — — — — Debt securities 3,318 834 836 — 1,648 Cash and cash equivalents 5,491 47 121 — 5,323 Total $ 8,809 881 957 — 6,971 Other pending transactions — — — — — Total fair value of plan assets $ 8,809 881 957 — 6,971 The following table provides the fair value hierarchy for the supplemental plan assets measured at fair value as of December 31, 2017 (Successor): 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 $ 5,295 5,295 — — — Debt securities 3,368 851 841 — 1,676 Cash and cash equivalents 246 27 170 — 49 Total $ 8,909 6,173 1,011 — 1,725 Other pending transactions (1 ) (1 ) — — — Total fair value of plan assets $ 8,908 6,172 1,011 — 1,725
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 March 31, 2018 (Successor): Significant Significant Quoted prices in observable unobservable active markets inputs inputs (In thousands) Total (Level 1) (Level 2) (Level 3) Cash equivalents $ 407,302 407,302 — — Total fair value of assets $ 407,302 407,302 — — The following table provides the fair value hierarchy for the company’s other financial instruments measured as of December 31, 2017 (Successor): Significant Significant Quoted prices in observable unobservable active markets inputs inputs (In thousands) Total (Level 1) (Level 2) (Level 3) Cash equivalents $ 399,322 399,322 — — Total fair value of assets $ 399,322 399,322 — —

OTHER CURRENT ASSETS, PROPERT30

OTHER CURRENT ASSETS, PROPERTIES AND EQUIPMENT, OTHER ASSETS, ACCRUED EXPENSES, OTHER CURRENT LIABILITIES AND OTHER LIABILITIES AND DEFERRED CREDITS (Tables)	3 Months Ended
	Mar. 31, 2018
Other Current Assets Properties And Equipment 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 March 31, 2018 and December 31, 2017 is as follows: Successor March 31, December 31, (In thousands) 2018 2017 Deposits $ 1,634 1,780 Investments held in rabbi trust (A) 8,809 8,908 Prepaid expenses 7,738 8,442 $ 18,181 19,130 (A) The company converted all investments held in the rabbi trust to cash to fund a lump sum benefit to the former CEO in May 2018. Refer to Note (6) for more information regarding this payment.
Summary of Net Properties and Equipment	A summary of net properties and equipment at March 31, 2018 and December 31, 2017 is as follows: Successor March 31, December 31, (In thousands) 2018 2017 Properties and equipment: Vessels and related equipment $ 836,666 850,268 Other properties and equipment 5,536 5,710 842,202 855,978 Less accumulated depreciation and amortization 27,939 18,458 Net properties and equipment $ 814,263 837,520
Schedule Of Other Assets	A summary of other assets at March 31, 2018 and December 31, 2017 is as follows: Successor March 31, December 31, (In thousands) 2018 2017 Recoverable insurance losses $ 2,495 2,405 Investments held for supplemental savings plan accounts 6,554 6,583 Long-term deposits 16,035 16,217 Other 5,699 5,847 $ 30,783 31,052
Schedule of Accrued Expenses	A summary of accrued expenses at March 31, 2018 and December 31, 2017 is as follows: Successor March 31, December 31, (In thousands) 2018 2017 Payroll and related payables (B) $ 17,369 17,344 Commissions payable (C) 2,146 1,898 Accrued vessel expenses 28,876 27,222 Accrued interest expense 5,958 6,036 Other accrued expenses 2,059 2,306 $ 56,408 54,806 (A) Includes an $8.9 million payable to the former CEO which was paid in May 2018. (B) Excludes $37.6 million and $36.4 million of commissions due to Sonatide at March 31, 2018 and December 31, 2017, respectively. These amounts are included in amounts due to affiliate.
Schedule of Other Current Liabilities	A summary of other current liabilities at March 31, 2018 and December 31, 2017 is as follows: Successor March 31, December 31, (In thousands) 2018 2017 Taxes payable $ 6,341 10,326 Amounts payable to holders of General Unsecured Claims — 8,474 Other 2,485 893 $ 8,826 19,693
Schedule of Other Liabilities and Deferred Credits	A summary of other liabilities at March 31, 2018 and December 31, 2017 is as follows: Successor March 31, December 31, (In thousands) 2018 2017 Postretirement benefits liability $ 2,524 2,642 Pension liabilities 36,420 36,614 Deferred supplemental savings plan liability 6,557 6,592 Other 12,559 12,728 $ 58,060 58,576

SEGMENT AND GEOGRAPHIC DISTRI31

SEGMENT AND GEOGRAPHIC DISTRIBUTION OF OPERATIONS (Tables)	3 Months Ended
	Mar. 31, 2018
Segment Reporting [Abstract]
Segment Information, Geographical Data and Major Customers	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 ended March 31, 2018 and 2017. Vessel revenues and operating costs relate to vessels owned and operated by the company while other operating revenues relate to brokered vessels and other miscellaneous marine-related businesses. Successor Predecessor Quarter Ended Quarter Ended March 31, March 31, (In thousands) 2018 2017 Revenues: Vessel revenues: Americas $ 26,081 80,533 Middle East/Asia Pacific 18,388 26,678 Europe/Mediterranean Sea 9,623 10,166 West Africa 33,402 39,528 87,494 156,905 Other operating revenues (A) 3,999 3,844 $ 91,493 160,749 Vessel operating profit (loss): Americas $ 4,911 30,618 Middle East/Asia Pacific (2,253 ) (6,164 ) Europe/Mediterranean Sea (3,554 ) (7,102 ) West Africa (1,753 ) (5,353 ) (2,649 ) 11,999 Other operating profit (loss) 1,506 (225 ) (1,143 ) 11,774 Corporate general and administrative expenses (6,684 ) (21,757 ) Corporate depreciation (100 ) (564 ) Corporate expenses (6,784 ) (22,321 ) Gain on asset dispositions, net 1,919 6,064 Asset impairments (B) (6,186 ) (64,857 ) Operating loss $ (12,194 ) (69,340 ) Foreign exchange gain (loss) (348 ) 664 Equity in net earnings (losses) of unconsolidated companies (15,439 ) 2,841 Interest income and other, net (128 ) 1,588 Interest and other debt costs, net (7,599 ) (21,008 ) Loss before income taxes $ (35,708 ) (85,255 ) Depreciation and amortization: Americas $ 3,313 11,297 Middle East/Asia Pacific 2,769 8,499 Europe/Mediterranean Sea 1,804 6,561 West Africa 4,026 9,816 11,912 36,173 Other 5 855 Corporate 100 564 $ 12,017 37,592 Additions to properties and equipment: Americas $ 1,037 — Middle East/Asia Pacific 423 1,025 Europe/Mediterranean Sea — — West Africa 1 94 1,461 1,119 Other — — Corporate (C) 217 6,954 $ 1,678 8,073 (A) Included in other operating revenues for the quarter ended March 31, 2017, were $0.3 million of revenues related to the company’s subsea business. The eight ROVs representing substantially all of the company’s subsea assets were sold in December 2017 . (B) Refer to Note (13) for additional information regarding asset impairment charges. (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 March 31, 2018 and December 31, 2017: March 31, December 31, (In thousands) 2018 2017 Total assets: Americas $ 172,536 164,958 Middle East/Asia Pacific 21,977 48,268 Europe/Mediterranean Sea 170,420 171,157 West Africa 858,776 864,299 1,223,709 1,248,682 Other 465 2,443 1,224,174 1,251,125 Investments in, at equity, and advances to unconsolidated companies 13,503 29,216 1,237,677 1,280,341 Corporate (A) 448,371 465,839 $ 1,686,048 1,746,180 (A) Included in Corporate are vessels currently under construction which have not yet been assigned to a non-corporate reporting segment. A vessel’s construction costs are reported in Corporate until the earlier of the date the vessel is assigned to a non-corporate reporting segment or the date it is delivered. At March 31, 2018 and December 31, 2017, $9.5 million and $9.3 million, respectively, of vessel construction costs are included in Corporate.
Schedule of Segment Reporting Information, Revenue by Vessel Class	The following table discloses the amount of revenue by segment, and in total for the worldwide fleet, along with the respective percentage of total vessel revenue for the quarters ended March 31, 2018 (Successor) and March 31, 2017 (Predecessor): Successor Predecessor Quarter Ended Quarter Ended March 31, 2018 March 31, 2017 Vessel revenue by vessel class (In thousands) % of Vessel Revenue % of Vessel Revenue Americas fleet: Deepwater $ 16,205 19 % 62,831 40 % Towing-supply 6,846 8 % 14,738 9 % Other 3,030 3 % 2,964 2 % Total $ 26,081 30 % 80,533 51 % Middle East/Asia Pacific fleet: Deepwater $ 9,564 11 % 9,433 6 % Towing-supply 8,824 10 % 17,245 11 % Other — — — — Total $ 18,388 21 % 26,678 17 % Europe/Mediterranean Sea fleet: Deepwater $ 9,020 10 % 9,853 7 % Towing-supply 603 1 % 322 <1 % Other — — (9 ) (<1 %) Total $ 9,623 11 % 10,166 7 % West Africa fleet: Deepwater $ 13,938 16 % 13,179 8 % Towing-supply 16,139 18 % 22,472 15 % Other 3,325 4 % 3,877 2 % Total $ 33,402 38 % 39,528 25 % Worldwide fleet: Deepwater $ 48,727 56 % 95,296 61 % Towing-supply 32,412 37 % 54,777 35 % Other 6,355 7 % 6,832 4 % Total $ 87,494 100 % 156,905 100 %

ASSET IMPAIRMENTS (Tables)

ASSET IMPAIRMENTS (Tables)	3 Months Ended
	Mar. 31, 2018
Asset Impairment Charges [Abstract]
Summary of Combined Fair Value of Assets Incurred Impairments	The below table summarizes the combined fair value of the assets that incurred impairments during the quarters ended March 31, 2018 and 2017, along with the amount of impairment. Successor Predecessor Quarter Ended Quarter Ended March 31, March 31, (In thousands, except number of vessels impaired) 2018 2017 Number of vessels impaired in the period (A) 13 28 Amount of impairment incurred $ 6,186 64,857 Combined fair value of assets incurring impairment $ 28,322 206,450

Schedule of Segment Reporting I

Schedule of Segment Reporting Information, Revenue by Vessel (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Segment Reporting Information [Line Items]
Vessel revenues	$ 87,494
Predecessor
Segment Reporting Information [Line Items]
Vessel revenues		$ 156,905
Americas
Segment Reporting Information [Line Items]
Vessel revenues	26,081
Americas | Predecessor
Segment Reporting Information [Line Items]
Vessel revenues		80,533
Middle East/Asia Pacific
Segment Reporting Information [Line Items]
Vessel revenues	18,388
Middle East/Asia Pacific | Predecessor
Segment Reporting Information [Line Items]
Vessel revenues		26,678
Europe/Mediterranean Sea
Segment Reporting Information [Line Items]
Vessel revenues	9,623
Europe/Mediterranean Sea | Predecessor
Segment Reporting Information [Line Items]
Vessel revenues		10,166
West Africa
Segment Reporting Information [Line Items]
Vessel revenues	$ 33,402
West Africa | Predecessor
Segment Reporting Information [Line Items]
Vessel revenues		$ 39,528

Revenue Recognition - Additiona

Revenue Recognition - Additional Information (Detail) - Vessel Mobilization $ in Millions	Mar. 31, 2018USD ($)
Disaggregation Of Revenue [Line Items]
Deferred costs included within other current assets	$ 0.4
Deferred capital modification revenue included within other current liabilities	$ 1.9

Summarizes The Revenue Expected

Summarizes The Revenue Expected to be Recognized in Future Related to Unsatisfied Performance Obligations (Detail) - Unsatisfied Performance Obligations - USD ($) $ in Thousands	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018
Revenue expected to be recognized in future related to unsatisfied performance obligations [Line Items]
Capital modification revenue				$ 1,910
Scenario, Forecast
Revenue expected to be recognized in future related to unsatisfied performance obligations [Line Items]
Capital modification revenue	$ 497	$ 637	$ 776

Changes in Accumulated Other Co

Changes in Accumulated Other Comprehensive Income (Loss) by Component, Net of Tax (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	$ 1,021,944
Balance	985,481
Predecessor
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance		$ 1,747,564
Balance		1,651,059
Available for Sale Securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	256
Gains/(losses) recognized in OCI	(660)
Reclasses from OCI to net income	361
Net period OCI	(299)
Balance	(43)
Available for Sale Securities | Predecessor
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance		(1)
Gains/(losses) recognized in OCI		(215)
Reclasses from OCI to net income		121
Net period OCI		(94)
Balance		(95)
Currency Translation Adjustment | Predecessor
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance		(9,811)
Gains/(losses) recognized in OCI		0
Reclasses from OCI to net income		0
Net period OCI		0
Balance		(9,811)
Pension/Post-retirement Benefits
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	(403)
Gains/(losses) recognized in OCI	0
Reclasses from OCI to net income	0
Net period OCI	0
Balance	(403)
Pension/Post-retirement Benefits | Predecessor
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance		4,683
Gains/(losses) recognized in OCI		(5,121)
Net period OCI		(5,121)
Balance		(438)
Interest Rate Swaps | Predecessor
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance		(1,317)
Gains/(losses) recognized in OCI		0
Reclasses from OCI to net income		1,317
Net period OCI		1,317
Balance		0
Accumulated other comprehensive loss
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	(147)
Gains/(losses) recognized in OCI	(660)
Reclasses from OCI to net income	361
Net period OCI	(299)
Balance	$ (446)
Accumulated other comprehensive loss | Predecessor
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance		(6,446)
Gains/(losses) recognized in OCI		(5,336)
Reclasses from OCI to net income		1,438
Net period OCI		(3,898)
Balance		$ (10,344)

Reclassifications from Accumula

Reclassifications from Accumulated Other Comprehensive Income (Loss) to Condensed Consolidated Statement of Income (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest income and other, net	$ (128)
Interest and other debt costs	7,599
Loss before income taxes	(35,708)
Tax effect	3,321
Net loss attributable to Tidewater Inc.	(39,172)
Predecessor
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest income and other, net		$ 1,588
Interest and other debt costs		21,008
Loss before income taxes		(85,255)
Tax effect		1,717
Net loss attributable to Tidewater Inc.		(94,855)
Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Loss before income taxes	361
Net loss attributable to Tidewater Inc.	361
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	$ 361
Reclassification out of Accumulated Other Comprehensive Income | Predecessor
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Loss before income taxes		2,465
Tax effect		1,027
Net loss attributable to Tidewater Inc.		1,438
Reclassification out of Accumulated Other Comprehensive Income | Predecessor | Available for Sale Securities
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest income and other, net		325
Reclassification out of Accumulated Other Comprehensive Income | Predecessor | Interest Rate Swaps
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest and other debt costs		$ 2,140

Schedule of Uncertain Tax Posit

Schedule of Uncertain Tax Positions and Income Tax Payable (Detail) $ in Thousands	Mar. 31, 2018USD ($)
Income Tax Disclosure [Abstract]
Tax liabilities for uncertain tax positions	$ 18,606
Income tax payable	$ 604

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	3 Months Ended
	Mar. 31, 2018USD ($)
Income Tax Contingency [Line Items]
Unrecognized tax benefit related to state tax issues	$ 12,425
Interest receivable on unrecognized tax benefit related to state tax issues	$ 56

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Net deferred tax assets	$ 45,300,000	$ 43,200,000
Valuation allowance	$ 45,300,000	$ 43,200,000
Federal statutory tax rate	21.00%
Adjustments to provisional amounts recorded	$ 0
One-time transition tax, adjustments to provisional amounts recorded	0
Tax act, executive compensation, cap on deductibility, amount	$ 1,000,000
Tax act, interest expense limitation, minimum percentage of adjusted taxable income	30.00%
Estimate of interest expense limitation before consideration of valuation allowance	$ 2,000,000
Net impact in income loss	$ 0

Employee Benefit Plans - Additi

Employee Benefit Plans - Additional Information (Detail) - USD ($)	1 Months Ended	3 Months Ended
	May 31, 2018	Mar. 31, 2018	Mar. 31, 2017
President, and Chief Executive Officer [Member] | Scenario, Forecast | Supplemental Executive Retirement Plan
Defined Benefit Plan Disclosure [Line Items]
Settlement of distribution	$ 8,900,000
Settlement loss	$ 200,000
Pension Plans, Defined Benefit
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, employer contributions		$ 0	$ 0
Expected contribution to the plan during the remaining quarters of fiscal 2018		0
Supplemental Executive Retirement Plan
Defined Benefit Plan Disclosure [Line Items]
Expected contribution to the plan during the remaining quarters of fiscal 2018		100,000
Norway’s Defined Benefit Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Expected contribution to the plan during the remaining quarters of fiscal 2018		$ 0	$ 0

Schedule of Carrying Value of T

Schedule of Carrying Value of Trust Assets, Including Unrealized Gains or Losses (Detail) - USD ($) $ in Thousands		Mar. 31, 2018	Dec. 31, 2017
Compensation And Retirement Disclosure [Abstract]
Investments held in Rabbi Trust at fair value	[1]	$ 8,809	$ 8,908
Unrealized gains (losses) in fair value of trust assets		(43)	256
Obligations under the supplemental plan		$ 32,581	$ 32,508
[1]	The company converted all investments held in the rabbi trust to cash to fund a lump sum benefit to the former CEO in May 2018. Refer to Note (6) for more information regarding this payment.

Schedule of Net Periodic Benefi

Schedule of Net Periodic Benefit Cost (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Pension Benefits
Net Period Benefit Cost Assumptions [Line Items]
Service cost	$ 30
Interest cost	902
Expected return on plan assets	(483)
Administrative expenses	1
Net periodic pension cost	450
Pension Benefits | Predecessor
Net Period Benefit Cost Assumptions [Line Items]
Service cost		$ 419
Interest cost		991
Expected return on plan assets		(601)
Administrative expenses		22
Payroll tax of net pension costs		56
Amortization of net actuarial losses		32
Recognized actuarial (benefit) loss		447
Net periodic pension cost		1,366
Other Benefits
Net Period Benefit Cost Assumptions [Line Items]
Service cost	15
Interest cost	29
Amortization of prior service cost	(75)
Recognized actuarial (benefit) loss	11
Net periodic pension cost	$ (20)
Other Benefits | Predecessor
Net Period Benefit Cost Assumptions [Line Items]
Service cost		21
Interest cost		51
Amortization of prior service cost		(1,088)
Recognized actuarial (benefit) loss		(283)
Net periodic pension cost		$ (1,299)

Summary of Debt Outstanding (De

Summary of Debt Outstanding (Detail) - USD ($) $ in Thousands		Mar. 31, 2018	Dec. 31, 2017
Debt [Line Items]
Amount outstanding	[1]	$ 439,118	$ 438,827
Debt premiums and discounts, net		8,826	9,333
Less: Current portion of long-term debt		5,215	5,103
Total long-term debt		442,729	443,057
8.00% New Secured Notes Due August 2022
Debt [Line Items]
Secured notes	[2]	349,954	350,000
Norwegian Kroner Denominated Notes Due May 2024 | Troms Offshore Supply AS
Debt [Line Items]
Amount outstanding	[1]	14,669	14,054
Norwegian Kroner Denominated Notes Due January 2026 | Troms Offshore Supply AS
Debt [Line Items]
Amount outstanding	[1]	26,303	25,965
United States Dollar Denominated Notes Due January 2027 | Troms Offshore Supply AS
Debt [Line Items]
Amount outstanding	[1]	22,729	23,345
United States Dollar Denominated Notes Due April 2027 | Troms Offshore Supply AS
Debt [Line Items]
Amount outstanding	[1]	$ 25,463	$ 25,463
[1]	The company pays principal and interest on these notes semi-annually. As of March 31, 2018 and December 31, 2017, the aggregate fair value (Level 2) of the Troms Offshore borrowings was $89.2 million and $88.5 million, respectively. The weighted average interest rate of the Troms Offshore borrowings as of March 31, 2018 was 5.01%.
[2]	As of March 31, 2018 and December 31, 2017 the fair value (Level 2) of the New Secured Notes was $358.7 million and $359.8 million, respectively.

Summary of Debt Outstanding (Pa

Summary of Debt Outstanding (Parenthetical) (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Troms Offshore Supply AS
Debt [Line Items]
Description of frequency of periodic payments on notes	semi-annually
Weighted average interest rate of debt borrowings	5.01%
Troms Offshore Supply AS | Level 2
Debt [Line Items]
Fair value of debt outstanding	$ 89.2	$ 88.5
8.00% New Secured Notes Due August 2022
Debt [Line Items]
Debt instrument interest rate	8.00%
Debt Instrument Maturity Period	August 2,022
8.00% New Secured Notes Due August 2022 | Level 2
Debt [Line Items]
Fair value of debt outstanding	$ 358.7	$ 359.8
Norwegian Kroner Denominated Notes Due May 2024 | Troms Offshore Supply AS
Debt [Line Items]
Debt Instrument Maturity Period	May 2,024
Norwegian Kroner Denominated Notes Due January 2026 | Troms Offshore Supply AS
Debt [Line Items]
Debt Instrument Maturity Period	January 2,026
United States Dollar Denominated Notes Due January 2027 | Troms Offshore Supply AS
Debt [Line Items]
Debt Instrument Maturity Period	January 2,027
United States Dollar Denominated Notes Due April 2027 | Troms Offshore Supply AS
Debt [Line Items]
Debt Instrument Maturity Period	April 2,027

Indebtedness - Additional Infor

Indebtedness - Additional Information (Detail) - USD ($)	Mar. 07, 2018	Feb. 02, 2018	Jul. 31, 2017
Tendered Notes
Debt [Line Items]
Debt Instrument Face Amount	$ 46,023
Consideration received by holders per principal amount of notes tendered, percentage	100.00%
Cash equal to difference between offer amount and principal amount	$ 24,650,000
Offer | Senior Secured Notes
Debt [Line Items]
Debt instrument fixed interest rate		8.00%
Debt instrument maturity year		2,022
Predecessor | Offer
Debt [Line Items]
Debt instrument repurchase period			60 days
Percentage of proceeds from Asset Sales, net of commission paid			65.00%
Minimum | Predecessor | Offer
Debt [Line Items]
Net proceeds realized from asset sales exceed amount			$ 10,000,000
Maximum | Offer | Senior Secured Notes
Debt [Line Items]
Debt Instrument Face Amount		$ 24,700,000

Debt Costs (Detail)

Debt Costs (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Debt [Line Items]
Interest and debt costs incurred, net of interest capitalized	$ 7,599
Interest costs capitalized	174
Total interest and debt costs	$ 7,773
Predecessor
Debt [Line Items]
Interest and debt costs incurred, net of interest capitalized		$ 21,008
Interest costs capitalized		1,217
Total interest and debt costs		$ 22,225

Components of Basic and Diluted

Components of Basic and Diluted Loss Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended
		Mar. 31, 2018	Mar. 31, 2017
Schedule Of Earnings Per Share Basic And Diluted [Line Items]
Net loss available to common shareholders		$ (39,172)
Weighted average outstanding shares of common stock, basic	[1]	23,424,943
Weighted average shares of common stock and equivalents		23,424,943
Loss per share, basic	[1]	$ (1.67)
Loss per share, diluted	[2]	$ (1.67)
In-the-money Options, Warrants and Restricted Stock Awards and Units
Schedule Of Earnings Per Share Basic And Diluted [Line Items]
Incremental "in-the-money" options, warrants, and restricted stock awards and units at the end of the period	[3]	6,255,686
Predecessor
Schedule Of Earnings Per Share Basic And Diluted [Line Items]
Net loss available to common shareholders			$ (94,855)
Weighted average outstanding shares of common stock, basic	[1]		47,080,783
Weighted average shares of common stock and equivalents			47,080,783
Loss per share, basic	[1]		$ (2.01)
Loss per share, diluted	[2]		$ (2.01)
Predecessor | In-the-money Options, Warrants and Restricted Stock Awards and Units
Schedule Of Earnings Per Share Basic And Diluted [Line Items]
Incremental "in-the-money" options, warrants, and restricted stock awards and units at the end of the period	[3]		1,233
[1]	Basic weighted average shares outstanding includes 108,044 shares issuable upon the exercise of New Creditor Warrants held by U.S. citizens at March 31, 2018 (Successor). Common shares and new creditor warrants and the sum of common shares and New Creditor Warrants outstanding at March 31, 2018 were 23,988,075, 6,021,696 and 30,009,771, respectively.
[2]	The company calculates “Loss per share, basic” by dividing “Net loss available to common shareholders” by “Weighted average outstanding shares of common stock, basic”.
[3]	For the three months ended March 31, 2018, the company also had 5,062,089 shares of “out-of- the-money” warrants outstanding at the end of the period.

Components of Basic and Dilut49

Components of Basic and Diluted Loss Per Share (Parenthetical) (Detail) - shares	Mar. 31, 2018	Dec. 31, 2017
Schedule Of Earnings Per Share Basic And Diluted [Line Items]
Shares issuable upon exercise of warrants	108,044
Common shares outstanding	23,988,075	22,115,916
Warrants outstanding	6,021,696
Common shares and new creditor warrants outstanding	30,009,771
Out-of-the-money Warrants
Schedule Of Earnings Per Share Basic And Diluted [Line Items]
Warrants outstanding	5,062,089

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - Vessel Commitments $ in Millions	Mar. 31, 2018USD ($)VesselT
Significant Purchase and Supply Commitment [Line Items]
Remaining Balance, commitments | $	$ 4.2
Number of Vessels, commitments | Vessel	1
Significant commitment, new construction deadweight tons capacity | T	5,400

Commitments and Contingencies (

Commitments and Contingencies (Sonatide Joint Venture) - Additional Information (Detail) $ in Thousands		3 Months Ended
		Mar. 31, 2018USD ($)VesselKz / $	Mar. 31, 2017USD ($)Vessel	Dec. 31, 2017USD ($)Kz / $	Mar. 31, 2014Vessel
Commitments and Contingencies Disclosure [Line Items]
Due from affiliate		$ 207,919		$ 230,315
Cash and cash equivalents		442,472		432,035
Due to affiliate		78,135		99,448
Commissions payable	[1]	2,146		1,898
Vessel revenues		87,494
Investments in, at equity, and advances to unconsolidated companies		$ 13,503		$ 29,216
Devaluation Of Angolan kwanza Versus US Dollar
Commitments and Contingencies Disclosure [Line Items]
Foreign currency exchange rate | Kz / $		214		168
Percentage of devaluation of currency		27.00%
Percentage of foreign exchange loss recognized		49.00%
Estimated exchange loss		$ 14,800
ANGOLA
Commitments and Contingencies Disclosure [Line Items]
Number of vessels operating | Vessel		38			85
Decrease in number of vessels operating | Vessel		47
Decrease in number of active vessels | Vessel		58
Number of active vessels | Vessel		21			79
Sonatide joint venture
Commitments and Contingencies Disclosure [Line Items]
Due from affiliate		$ 208,000		$ 230,000
Unpaid vessel revenue		26,000
Due to affiliate		78,000		99,000
Commissions payable		37,600		36,400
Due from affiliate and due to affiliate		$ 27,000
Number of vessels operating | Vessel		7
Number of vessels stacked | Vessel		4
Ownership Interest In Joint Venture		49.00%
Investments in, at equity, and advances to unconsolidated companies		$ 12,000		$ 27,000
Sonatide joint venture | ANGOLA
Commitments and Contingencies Disclosure [Line Items]
Proceeds from related party		8,000
Vessel revenues		$ 14,000	$ 26,000
Percentage of Angolan operation revenue		16.00%	17.00%
Number of vessels operating | Vessel		40	55
Number of vessels stacked | Vessel		18	24
Number of vessels transferred out of Angola | Vessel		12
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		$ 6,000
Sonatide joint venture | Sonatide's converting kwanzas into dollars and subsequent payment to company
Commitments and Contingencies Disclosure [Line Items]
Proceeds from related party		2,000
Sonatide joint venture | Angolan kwanza-denominated
Commitments and Contingencies Disclosure [Line Items]
Bank deposits maintained		103,000
Cash and cash equivalents		$ 66,000
[1]	Excludes $37.6 million and $36.4 million of commissions due to Sonatide at March 31, 2018 and December 31, 2017,

Commitments and Contingencies52

Commitments and Contingencies (Brazilian Customs) - Additional Information (Detail) R$ in Millions, $ in Millions	1 Months Ended	3 Months Ended
	May 31, 2016BRL (R$)	Mar. 31, 2018USD ($)	Mar. 31, 2018BRL (R$)	Apr. 30, 2011BRL (R$)
Commitments And Contingencies Disclosure [Abstract]
Fines assessed		$ 10		R$ 33
Fines assessed	R$ 3	0.9
Deposit Amount		1.8	R$ 6
Remaining amount of fines contested		$ 9.1	R$ 30

Commitment and Contingencies (R

Commitment and Contingencies (Repairs to U.S. Flagged Vessels Operating Abroad) - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2018
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	3 Months Ended
	Mar. 31, 2018USD ($)Subsidiary
Commitments and Contingencies Disclosure [Line Items]
Number of subsidiaries awarded grant | Subsidiary	2
Compensation awarded to the claimants	$ 56.7
Litigation settlement accrual interest	$ 0.6

Schedule of Fair Value Assets a

Schedule of Fair Value Assets and Liabilities Measured on Recurring Basis (Detail) - USD ($) $ in Thousands		Mar. 31, 2018	Dec. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of plan assets	[1]	$ 8,809	$ 8,908
Supplemental Executive Retirement Plan
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets		8,809	8,909
Other pending transactions			(1)
Total fair value of plan assets		8,809	8,908
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		6,971	1,725
Total fair value of plan assets		6,971	1,725
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		881	6,173
Other pending transactions			(1)
Total fair value of plan assets		881	6,172
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		957	1,011
Total fair value of plan assets		957	1,011
Supplemental Executive Retirement Plan | Equity Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets			5,295
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			5,295
Supplemental Executive Retirement Plan | Debt Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of plan assets		3,318	3,368
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		1,648	1,676
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		834	851
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		836	841
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		5,491	246
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		5,323	49
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		47	27
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		$ 121	$ 170
[1]	The company converted all investments held in the rabbi trust to cash to fund a lump sum benefit to the former CEO in May 2018. Refer to Note (6) for more information regarding this payment.

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2018
Fair Value Disclosures [Abstract]
Cash equivalents maturity period, days	90 days

Schedule of Fair Value Other Fi

Schedule of Fair Value Other Financial Instruments Measured (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets	$ 407,302	$ 399,322
Quoted Prices In Active Markets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets	407,302	399,322
Cash Equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets	407,302	399,322
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	$ 407,302	$ 399,322

Schedule of Other Current Asset

Schedule of Other Current Assets (Detail) - USD ($) $ in Thousands		Mar. 31, 2018	Dec. 31, 2017
Other Current Assets, Properties and Equipment, Other Assets Accrued Expenses Other Current Liabilities and other Non current liabilities and Deferred Credits [Abstract]
Deposits		$ 1,634	$ 1,780
Investments held in rabbi trust	[1]	8,809	8,908
Prepaid expenses		7,738	8,442
Total other current assets		$ 18,181	$ 19,130
[1]	The company converted all investments held in the rabbi trust to cash to fund a lump sum benefit to the former CEO in May 2018. Refer to Note (6) for more information regarding this payment.

Summary of Net Properties and E

Summary of Net Properties and Equipment (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Property Plant And Equipment [Abstract]
Vessels and related equipment	$ 836,666	$ 850,268
Other properties and equipment	5,536	5,710
Properties and equipment, gross	842,202	855,978
Less accumulated depreciation and amortization	27,939	18,458
Net properties and equipment	$ 814,263	$ 837,520

Schedule of Other Assets (Detai

Schedule of Other Assets (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Other Assets, Noncurrent [Abstract]
Recoverable insurance losses	$ 2,495	$ 2,405
Investments held for supplemental savings plan accounts	6,554	6,583
Long-term deposits	16,035	16,217
Other	5,699	5,847
Total other assets	$ 30,783	$ 31,052

Schedule of Accrued Expenses (D

Schedule of Accrued Expenses (Detail) - USD ($) $ in Thousands		Mar. 31, 2018	Dec. 31, 2017
Accounts Payable and Accrued Liabilities Current [Abstract]
Payroll and related payables	[1]	$ 17,369	$ 17,344
Commissions payable	[2]	2,146	1,898
Accrued vessel expenses		28,876	27,222
Accrued interest expense		5,958	6,036
Other accrued expenses		2,059	2,306
Accrued expenses		$ 56,408	$ 54,806
[1]	Includes an $8.9 million payable to the former CEO which was paid in May 2018.
[2]	Excludes $37.6 million and $36.4 million of commissions due to Sonatide at March 31, 2018 and December 31, 2017,

Schedule of Accrued Expenses (P

Schedule of Accrued Expenses (Parenthetical) (Detail) - USD ($) $ in Thousands		Mar. 31, 2018	Dec. 31, 2017
Schedule of Accrued Liabilities [Line Items]
Payroll and related payables	[1]	$ 17,369	$ 17,344
Commissions payable	[2]	2,146	1,898
Sonatide joint venture
Schedule of Accrued Liabilities [Line Items]
Commissions payable		37,600	$ 36,400
Former CEO
Schedule of Accrued Liabilities [Line Items]
Payroll and related payables		$ 8,900
[1]	Includes an $8.9 million payable to the former CEO which was paid in May 2018.
[2]	Excludes $37.6 million and $36.4 million of commissions due to Sonatide at March 31, 2018 and December 31, 2017,

Schedule of Other Current Liabi

Schedule of Other Current Liabilities (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Other Liabilities Current [Abstract]
Taxes payable	$ 6,341	$ 10,326
Amounts payable to holders of General Unsecured Claims		8,474
Other	2,485	893
Other current liabilities	$ 8,826	$ 19,693

Schedule of Other Liabilities a

Schedule of Other Liabilities and Deferred Credits (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Deferred Credits and Other Liabilities [Abstract]
Postretirement benefits liability	$ 2,524	$ 2,642
Pension liabilities	36,420	36,614
Deferred supplemental savings plan liability	6,557	6,592
Other	12,559	12,728
Other liabilities and deferred credits	$ 58,060	$ 58,576

Segment Information, Geographic

Segment Information, Geographical Data and Major Customers (Detail) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2018	Mar. 31, 2017
Segment Reporting Information [Line Items]
Vessel revenues		$ 87,494
Other operating revenues	[1]	3,999
Total revenues		91,493
Operating profit (loss)		(1,143)
General and administrative expenses		(23,565)
Depreciation and amortization		12,017
Corporate expenses		(6,784)
Gain on asset dispositions, net		1,919
Asset impairments	[2]	(6,186)
Operating loss		(12,194)
Foreign exchange gain (loss)		(348)
Equity in net earnings (losses) of unconsolidated companies		(15,439)
Interest income and other, net		(128)
Interest and other debt costs, net		(7,599)
Loss before income taxes		(35,708)
Additions to properties and equipment		1,678
Americas
Segment Reporting Information [Line Items]
Vessel revenues		26,081
Middle East/Asia Pacific
Segment Reporting Information [Line Items]
Vessel revenues		18,388
Europe/Mediterranean Sea
Segment Reporting Information [Line Items]
Vessel revenues		9,623
West Africa
Segment Reporting Information [Line Items]
Vessel revenues		33,402
All Other Segments
Segment Reporting Information [Line Items]
Operating profit (loss)		1,506
Depreciation and amortization		5
Predecessor
Segment Reporting Information [Line Items]
Vessel revenues			$ 156,905
Other operating revenues	[1]		3,844
Total revenues			160,749
Operating profit (loss)			11,774
General and administrative expenses			(41,727)
Depreciation and amortization			37,592
Corporate expenses			(22,321)
Gain on asset dispositions, net			6,064
Asset impairments	[2]		(64,857)
Operating loss			(69,340)
Foreign exchange gain (loss)			664
Equity in net earnings (losses) of unconsolidated companies			2,841
Interest income and other, net			1,588
Interest and other debt costs, net			(21,008)
Loss before income taxes			(85,255)
Additions to properties and equipment			8,073
Predecessor | Americas
Segment Reporting Information [Line Items]
Vessel revenues			80,533
Predecessor | Middle East/Asia Pacific
Segment Reporting Information [Line Items]
Vessel revenues			26,678
Predecessor | Europe/Mediterranean Sea
Segment Reporting Information [Line Items]
Vessel revenues			10,166
Predecessor | West Africa
Segment Reporting Information [Line Items]
Vessel revenues			39,528
Predecessor | All Other Segments
Segment Reporting Information [Line Items]
Operating profit (loss)			(225)
Depreciation and amortization			855
Operating Segments
Segment Reporting Information [Line Items]
Operating profit (loss)		(2,649)
Depreciation and amortization		11,912
Additions to properties and equipment		1,461
Operating Segments | Americas
Segment Reporting Information [Line Items]
Vessel revenues		26,081
Operating profit (loss)		4,911
Depreciation and amortization		3,313
Additions to properties and equipment		1,037
Operating Segments | Middle East/Asia Pacific
Segment Reporting Information [Line Items]
Vessel revenues		18,388
Operating profit (loss)		(2,253)
Depreciation and amortization		2,769
Additions to properties and equipment		423
Operating Segments | Europe/Mediterranean Sea
Segment Reporting Information [Line Items]
Vessel revenues		9,623
Operating profit (loss)		(3,554)
Depreciation and amortization		1,804
Operating Segments | West Africa
Segment Reporting Information [Line Items]
Vessel revenues		33,402
Operating profit (loss)		(1,753)
Depreciation and amortization		4,026
Additions to properties and equipment		1
Operating Segments | Predecessor
Segment Reporting Information [Line Items]
Operating profit (loss)			11,999
Depreciation and amortization			36,173
Additions to properties and equipment			1,119
Operating Segments | Predecessor | Americas
Segment Reporting Information [Line Items]
Vessel revenues			80,533
Operating profit (loss)			30,618
Depreciation and amortization			11,297
Operating Segments | Predecessor | Middle East/Asia Pacific
Segment Reporting Information [Line Items]
Vessel revenues			26,678
Operating profit (loss)			(6,164)
Depreciation and amortization			8,499
Additions to properties and equipment			1,025
Operating Segments | Predecessor | Europe/Mediterranean Sea
Segment Reporting Information [Line Items]
Vessel revenues			10,166
Operating profit (loss)			(7,102)
Depreciation and amortization			6,561
Operating Segments | Predecessor | West Africa
Segment Reporting Information [Line Items]
Vessel revenues			39,528
Operating profit (loss)			(5,353)
Depreciation and amortization			9,816
Additions to properties and equipment			94
Corporate
Segment Reporting Information [Line Items]
General and administrative expenses		(6,684)
Depreciation and amortization		100
Additions to properties and equipment	[3]	$ 217
Corporate | Predecessor
Segment Reporting Information [Line Items]
General and administrative expenses			(21,757)
Depreciation and amortization			564
Additions to properties and equipment	[3]		$ 6,954
[1]	Included in other operating revenues for the quarter ended March 31, 2017, were $0.3 million of revenues related to the company’s subsea business. The eight ROVs representing substantially all of the company’s subsea assets were sold in December 2017.
[2]	Refer to Note (13) for additional information regarding asset impairment charges.
[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.

Segment Information, Geograph66

Segment Information, Geographical Data and Major Customers (Parenthetical) (Detail) $ in Thousands		3 Months Ended		12 Months Ended
		Mar. 31, 2018USD ($)	Mar. 31, 2017USD ($)	Dec. 31, 2017Vessel
Segment Reporting Information [Line Items]
Other operating revenues	[1]	$ 3,999
Number of ROVs disposed | Vessel				8
Subsea Business
Segment Reporting Information [Line Items]
Other operating revenues			$ 300
[1]	Included in other operating revenues for the quarter ended March 31, 2017, were $0.3 million of revenues related to the company’s subsea business. The eight ROVs representing substantially all of the company’s subsea assets were sold in December 2017.

Comparison of Total Assets (Det

Comparison of Total Assets (Detail) - USD ($) $ in Thousands		Mar. 31, 2018	Dec. 31, 2017
Segment and Geographic Distribution of Operations [Line Items]
Assets		$ 1,686,048	$ 1,746,180
Assets excluding equity investments		1,224,174	1,251,125
Investments in, at equity, and advances to unconsolidated companies		13,503	29,216
Assets except corporate portion		1,237,677	1,280,341
All Other Segments
Segment and Geographic Distribution of Operations [Line Items]
Assets		465	2,443
Operating Segments
Segment and Geographic Distribution of Operations [Line Items]
Assets		1,223,709	1,248,682
Operating Segments | Americas
Segment and Geographic Distribution of Operations [Line Items]
Assets		172,536	164,958
Operating Segments | Middle East/Asia Pacific
Segment and Geographic Distribution of Operations [Line Items]
Assets		21,977	48,268
Operating Segments | Europe/Mediterranean Sea
Segment and Geographic Distribution of Operations [Line Items]
Assets		170,420	171,157
Operating Segments | West Africa
Segment and Geographic Distribution of Operations [Line Items]
Assets		858,776	864,299
Corporate
Segment and Geographic Distribution of Operations [Line Items]
Assets	[1]	$ 448,371	$ 465,839
[1]	(A)Included in Corporate are vessels currently under construction which have not yet been assigned to a non-corporate reporting segment. A vessel’s construction costs are reported in Corporate until the earlier of the date the vessel is assigned to a non-corporate reporting segment or the date it is delivered. At March 31, 2018 and December 31, 2017, $9.5 million and $9.3 million, respectively, of vessel construction costs are included in Corporate

Comparison of Total Assets (Par

Comparison of Total Assets (Parenthetical) (Detail) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Corporate Vessels
Segment and Geographic Distribution of Operations [Line Items]
Construction costs	$ 9.5	$ 9.3

Schedule of Segment Reporting69

Schedule of Segment Reporting Information, Revenue by Vessel Class (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues	$ 87,494
Predecessor
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues		$ 156,905
Americas Fleet Deepwater vessels
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues	$ 16,205
Percentage of Angolan operation revenue	19.00%
Americas Fleet Deepwater vessels | Predecessor
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues		$ 62,831
Percentage of Angolan operation revenue		40.00%
Americas Fleet Towing-Supply/supply
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues	$ 6,846
Percentage of Angolan operation revenue	8.00%
Americas Fleet Towing-Supply/supply | Predecessor
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues		$ 14,738
Percentage of Angolan operation revenue		9.00%
Americas Fleet Other
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues	$ 3,030
Percentage of Angolan operation revenue	3.00%
Americas Fleet Other | Predecessor
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues		$ 2,964
Percentage of Angolan operation revenue		2.00%
Americas Fleet
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues	$ 26,081
Percentage of Angolan operation revenue	30.00%
Americas Fleet | Predecessor
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues		$ 80,533
Percentage of Angolan operation revenue		51.00%
Middle East/Asia Pacific Fleet Deepwater vessels
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues	$ 9,564
Percentage of Angolan operation revenue	11.00%
Middle East/Asia Pacific Fleet Deepwater vessels | Predecessor
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues		$ 9,433
Percentage of Angolan operation revenue		6.00%
Middle East/Asia Pacific Fleet Towing-Supply/supply
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues	$ 8,824
Percentage of Angolan operation revenue	10.00%
Middle East/Asia Pacific Fleet Towing-Supply/supply | Predecessor
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues		$ 17,245
Percentage of Angolan operation revenue		11.00%
Middle East/Asia Pacific Fleet
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues	$ 18,388
Percentage of Angolan operation revenue	21.00%
Middle East/Asia Pacific Fleet | Predecessor
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues		$ 26,678
Percentage of Angolan operation revenue		17.00%
Europe/Mediterranean Sea fleet Deepwater vessels
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues	$ 9,020
Percentage of Angolan operation revenue	10.00%
Europe/Mediterranean Sea fleet Deepwater vessels | Predecessor
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues		$ 9,853
Percentage of Angolan operation revenue		7.00%
Europe/Mediterranean Sea fleet Towing-Supply/supply
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues	$ 603
Percentage of Angolan operation revenue	1.00%
Europe/Mediterranean Sea fleet Towing-Supply/supply | Predecessor
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues		$ 322
Europe/Mediterranean Sea fleet Towing-Supply/supply | Predecessor | Maximum
Segment and Geographic Distribution of Operations [Line Items]
Percentage of Angolan operation revenue		1.00%
Europe/Mediterranean Sea fleet Other | Predecessor
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues		$ (9)
Europe/Mediterranean Sea fleet Other | Predecessor | Maximum
Segment and Geographic Distribution of Operations [Line Items]
Percentage of Angolan operation revenue		1.00%
Europe/Mediterranean Sea fleet
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues	$ 9,623
Percentage of Angolan operation revenue	11.00%
Europe/Mediterranean Sea fleet | Predecessor
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues		$ 10,166
Percentage of Angolan operation revenue		7.00%
West Africa fleet Deepwater vessels
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues	$ 13,938
Percentage of Angolan operation revenue	16.00%
West Africa fleet Deepwater vessels | Predecessor
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues		$ 13,179
Percentage of Angolan operation revenue		8.00%
West Africa fleet Towing-Supply/supply
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues	$ 16,139
Percentage of Angolan operation revenue	18.00%
West Africa fleet Towing-Supply/supply | Predecessor
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues		$ 22,472
Percentage of Angolan operation revenue		15.00%
West Africa fleet Other
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues	$ 3,325
Percentage of Angolan operation revenue	4.00%
West Africa fleet Other | Predecessor
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues		$ 3,877
Percentage of Angolan operation revenue		2.00%
West Africa fleet
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues	$ 33,402
Percentage of Angolan operation revenue	38.00%
West Africa fleet | Predecessor
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues		$ 39,528
Percentage of Angolan operation revenue		25.00%
Worldwide Fleet Deepwater vessels
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues	$ 48,727
Percentage of Angolan operation revenue	56.00%
Worldwide Fleet Deepwater vessels | Predecessor
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues		$ 95,296
Percentage of Angolan operation revenue		61.00%
Worldwide Fleet Towing-Supply/supply
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues	$ 32,412
Percentage of Angolan operation revenue	37.00%
Worldwide Fleet Towing-Supply/supply | Predecessor
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues		$ 54,777
Percentage of Angolan operation revenue		35.00%
Worldwide Fleet Other
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues	$ 6,355
Percentage of Angolan operation revenue	7.00%
Worldwide Fleet Other | Predecessor
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues		$ 6,832
Percentage of Angolan operation revenue		4.00%
Worldwide Fleet
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues	$ 87,494
Percentage of Angolan operation revenue	100.00%
Worldwide Fleet | Predecessor
Segment and Geographic Distribution of Operations [Line Items]
Vessel revenues		$ 156,905
Percentage of Angolan operation revenue		100.00%

Summary of Combined Fair Value

Summary of Combined Fair Value of Assets Incurred Impairments (Detail) $ in Thousands		3 Months Ended
		Mar. 31, 2018USD ($)Vessel	Mar. 31, 2017USD ($)Vessel
Schedule of Combined Fair Value of Assets that Incurred Impairments [Line Items]
Number of vessels impaired in the period | Vessel	[1]	13
Amount of impairment incurred	[2]	$ 6,186
Combined fair value of assets incurring impairment		$ 28,322
Predecessor
Schedule of Combined Fair Value of Assets that Incurred Impairments [Line Items]
Number of vessels impaired in the period | Vessel	[1]		28
Amount of impairment incurred	[2]		$ 64,857
Combined fair value of assets incurring impairment			$ 206,450
[1]	For the quarter ended March 31, 2018, there were 13 stacked vessels impaired, and for the quarter ended March 31, 2017, there were 25 stacked vessels and 3 active vessels impaired.
[2]	Refer to Note (13) for additional information regarding asset impairment charges.

Summary of Combined Fair Valu71

Summary of Combined Fair Value of Assets Incurred Impairments (Parenthetical) (Detail) - Vessel		3 Months Ended
		Mar. 31, 2018	Mar. 31, 2017
Schedule of Combined Fair Value of Assets that Incurred Impairments [Line Items]
Number of vessels impaired in the period	[1]	13
Stacked Vessels
Schedule of Combined Fair Value of Assets that Incurred Impairments [Line Items]
Number of vessels impaired in the period		13
Predecessor
Schedule of Combined Fair Value of Assets that Incurred Impairments [Line Items]
Number of vessels impaired in the period	[1]		28
Predecessor | Stacked Vessels
Schedule of Combined Fair Value of Assets that Incurred Impairments [Line Items]
Number of vessels impaired in the period			25
Predecessor | Active Vessels
Schedule of Combined Fair Value of Assets that Incurred Impairments [Line Items]
Number of vessels impaired in the period			3
[1]	For the quarter ended March 31, 2018, there were 13 stacked vessels impaired, and for the quarter ended March 31, 2017, there were 25 stacked vessels and 3 active vessels impaired.