Tidewater (TDW) 10-Q 30 Jul 20 2020 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2020	Jul. 24, 2020
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Entity Registrant Name	Tidewater Inc.
Entity Central Index Key	0000098222
Entity Interactive Data Current	Yes
Entity Current Reporting Status	Yes
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		40,362,158
Entity File Number	1-6311
Entity Tax Identification Number	72-0487776
Entity Address, Address Line One	6002 Rogerdale Road
Entity Address, Address Line Two	Suite 600
Entity Address, City or Town	Houston
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77072
City Area Code	713
Local Phone Number	470-5300
Entity Incorporation, State or Country Code	DE
Document Quarterly Report	true
Document Transition Report	false
Common Stock
Document Information [Line Items]
Trading Symbol	TDW
Security Exchange Name	NYSE
Title of 12(b) Security	Common stock, $0.001 par value per share
Series A Warrants
Document Information [Line Items]
Trading Symbol	TDW.WS.A
Title of 12(b) Security	Series A Warrants to purchase shares of common stock
Series B Warrants
Document Information [Line Items]
Trading Symbol	TDW.WS.B
Security Exchange Name	NYSE
Title of 12(b) Security	Series B Warrants to purchase shares of common stock
Warrants to Purchase common stock
Document Information [Line Items]
Trading Symbol	TDW.WS
Security Exchange Name	NYSEAMER
Title of 12(b) Security	Warrants to purchase shares of common stock
Preferred stock purchase rights
Document Information [Line Items]
No Trading Symbol Flag	true
Security Exchange Name	NYSE
Title of 12(b) Security	Preferred stock purchase rights

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 203,119	$ 218,290
Restricted cash	19,880	5,755
Trade and other receivables, less allowance for credit losses of $556 as of June 30, 2020 and less allowance for doubtful accounts of $70 as of December 31, 2019.	115,008	110,180
Due from affiliate less allowance for credit losses of $71,959 as of June 30, 2020 and less due from affiliate allowance of $20,083 as of December 31, 2019	65,766	125,972
Marine operating supplies	20,580	21,856
Assets held for sale	29,064	39,287
Prepaid expenses and other current assets	20,350	15,956
Total current assets	473,767	537,296
Net properties and equipment	839,912	938,961
Net deferred drydocking and survey costs	74,585	66,936
Other assets	27,411	36,335
Total assets	1,415,675	1,579,528
Current liabilities:
Accounts payable	17,111	27,501
Accrued costs and expenses	60,993	74,000
Due to affiliates	48,803	50,186
Current portion of long-term debt	9,437	9,890
Other current liabilities	25,815	24,100
Total current liabilities	162,159	185,677
Long-term debt	273,215	279,044
Other liabilities	90,301	98,397
Contingencies (Note 10)
Equity:
Common stock of $0.001 par value, 125,000,000 shares authorized, 40,335,963 and 39,941,327 shares issued and outstanding at June 30, 2020 and December 31, 2019, respectively	40	40
Additional paid-in capital	1,369,645	1,367,521
Accumulated deficit	(481,757)	(352,526)
Accumulated other comprehensive income (loss)	581	(236)
Total stockholders’ equity	888,509	1,014,799
Noncontrolling interests	1,491	1,611
Total equity	890,000	1,016,410
Total liabilities and equity	$ 1,415,675	$ 1,579,528

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Statement Of Financial Position [Abstract]
Allowance for doubtful accounts		$ 70
Allowance for credit losses	$ 556
Accounts Receivable, Allowance for Credit Loss, Current	$ 71,959
Due From Affiliate Current		$ 20,083
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	125,000,000	125,000,000
Common stock, shares issued	40,335,963	39,941,327
Common stock, shares outstanding	40,335,963	39,941,327

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Revenues:
Total revenues	$ 102,344	$ 125,859	$ 218,712	$ 248,008
Costs and expenses:
Vessel operating costs	64,774	80,439	143,599	162,642
Costs of other operating revenues	171	586	2,844	1,350
General and administrative	17,597	23,696	39,017	50,836
Depreciation and amortization	28,144	25,038	55,251	47,970
Long-lived asset impairments	55,482	494	65,689	(776)
Affiliate credit loss impairment expense	53,581		53,581
Affiliate guarantee obligation	2,000		2,000
(Gain) loss on asset dispositions, net	(1,660)	494	(6,991)	(776)
Total costs and expenses	220,089	130,253	354,990	262,022
Operating loss	(117,745)	(4,394)	(136,278)	(14,014)
Other income (expense):
Foreign exchange gain (loss)	(2,076)	11	(1,212)	(497)
Equity in net earnings of unconsolidated companies		95		33
Dividend income from unconsolidated company	17,150		17,150
Interest income and other, net	696	1,859	812	4,329
Interest and other debt costs, net	(5,959)	(7,582)	(12,101)	(15,318)
Total other income (expenses)	9,811	(5,617)	4,649	(11,453)
Loss before income taxes	(107,934)	(10,011)	(131,629)	(25,467)
Income tax (benefit) expense	2,730	5,542	(2,441)	11,372
Net loss	(110,664)	(15,553)	(129,188)	(36,839)
Net income (loss) attributable to noncontrolling interests	(41)	406	(120)	851
Net loss attributable to Tidewater Inc.	$ (110,623)	$ (15,959)	$ (129,068)	$ (37,690)
Basic loss per common share	$ (2.74)	$ (0.42)	$ (3.21)	$ (1.01)
Diluted loss per common share	$ (2.74)	$ (0.42)	$ (3.21)	$ (1.01)
Weighted average common shares outstanding	40,306	37,571	40,203	37,369
Adjusted weighted average common shares	40,306	37,571	40,203	37,369
Vessel Revenues
Revenues:
Total revenues	$ 100,975	$ 123,641	$ 212,949	$ 243,303
Other Operating Revenues
Revenues:
Total revenues	$ 1,369	$ 2,218	$ 5,763	$ 4,705

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Unaudited) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2020
Statement Of Income And Comprehensive Income [Abstract]
Net loss	$ (110,664)	$ (129,188)
Other comprehensive income:
Change in pension plan and supplemental pension plan liability, net of tax of $0.2 million and $0.2 million, respectively	448	817
Total comprehensive loss	$ (110,216)	$ (128,371)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Unaudited) (Parenthetical) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Statement Of Income And Comprehensive Income [Abstract]
Change in pension plan and supplemental pension plan liability	$ 0.2	$ 0.2

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Operating activities:
Net loss	$ (129,188)	$ (36,839)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	34,271	38,582
Amortization of deferred drydocking and survey costs	20,980	9,388
Amortization of debt premium and discounts	1,357	(1,019)
Provision for deferred income taxes	206	6
(Gain) loss on asset dispositions, net	(6,991)	(776)
Affiliate credit loss impairment expense	53,581
Affiliate guarantee obligation	2,000
Long-lived asset impairments	65,689	(776)
Changes in investments in unconsolidated companies		381
Compensation expense - stock-based	2,736	9,215
Changes in assets and liabilities, net:
Trade and other receivables	(4,991)	(10,921)
Changes in due to/from affiliate, net	3,242	15,080
Accounts payable	(10,390)	(7,769)
Accrued costs and expenses	(13,007)	(4,977)
Cash paid for deferred drydocking and survey costs	(28,964)	(28,688)
Other, net	(3,354)	(2,386)
Net cash used in operating activities	(12,823)	(20,723)
Cash flows from investing activities:
Proceeds from sales of assets	20,906	20,566
Additions to properties and equipment	(4,075)	(8,873)
Net cash provided by investing activities	16,831	11,693
Cash flows from financing activities:
Principal payments on long-term debt	(4,742)	(3,792)
Taxes on share based awards	(612)	(1,760)
Other		1
Net cash used in financing activities	(5,354)	(5,551)
Net change in cash, cash equivalents and restricted cash	(1,346)	(14,581)
Cash, cash equivalents and restricted cash at beginning of period	227,608	397,744
Cash, cash equivalents and restricted cash at end of period	226,262	383,163
Cash paid during the period for:
Interest, net of amounts capitalized	10,734	16,293
Income taxes	$ 6,461	$ 7,754

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) $ in Millions	Jun. 30, 2020USD ($)
Statement Of Cash Flows [Abstract]
Long-term restricted cash included in cash, cash equivalents and restricted cash	$ 3.3

CONDENSED CONSOLIDATED STATEM_6

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY (Unaudited) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated other comprehensive income (loss)	Noncontrolling Interest
Balance at Dec. 31, 2018	$ 1,144,923	$ 37	$ 1,352,388	$ (210,783)	$ 2,194	$ 1,087
Total comprehensive loss	(36,839)			(37,690)		851
Issuance of common stock from exercise of warrants	2	1	1
Amortization/cancellation of restricted stock units	7,453		7,453
Balance at Jun. 30, 2019	1,115,539	38	1,359,842	(248,473)	2,194	1,938
Balance at Mar. 31, 2019	1,127,685	37	1,356,436	(232,514)	2,194	1,532
Total comprehensive loss	(15,553)			(15,959)		406
Issuance of common stock from exercise of warrants	1	1
Amortization/cancellation of restricted stock units	3,406		3,406
Balance at Jun. 30, 2019	1,115,539	38	1,359,842	(248,473)	2,194	1,938
Balance at Dec. 31, 2019	1,016,410	40	1,367,521	(352,526)	(236)	1,611
Total comprehensive loss	(128,371)			(129,068)	817	(120)
Adoption of credit loss accounting standard	(163)			(163)
Amortization/cancellation of restricted stock units	2,124		2,124
Balance at Jun. 30, 2020	890,000	40	1,369,645	(481,757)	581	1,491
Balance at Mar. 31, 2020	998,896	40	1,368,325	(371,134)	133	1,532
Total comprehensive loss	(110,216)			(110,623)	448	(41)
Amortization/cancellation of restricted stock units	1,320		1,320
Balance at Jun. 30, 2020	$ 890,000	$ 40	$ 1,369,645	$ (481,757)	$ 581	$ 1,491

INTERIM FINANCIAL STATEMENTS

INTERIM FINANCIAL STATEMENTS	6 Months Ended
	Jun. 30, 2020
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 our Annual Report on Form 10-K for the year ended December 31, 2019, filed with the SEC on March 2, 2020. The unaudited condensed consolidated financial statements include the accounts of Tidewater Inc. and its subsidiaries. Intercompany balances and transactions are eliminated in consolidation. We use the equity method to account for equity investments over which we exercise significant influence but do not exercise control and are not the primary beneficiary. Unless otherwise specified, all per share information included in this document is on a diluted earnings per share basis.

RECENTLY ISSUED ACCOUNTING PRON

RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS NOT YET ADOPTED	6 Months Ended
	Jun. 30, 2020
Accounting Changes And Error Corrections [Abstract]
RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS NOT YET ADOPTED	(2) RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS NOT YET ADOPTED In December 2019, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2019-12, Simplifying the Accounting for Income Taxes, which simplifies the accounting for income taxes by removing certain exceptions to the general principles in Topic 740 and clarifying and amending existing guidance to simplify the accounting for income taxes. The guidance is effective for annual and interim periods beginning after December 15, 2020 with early adoption permitted. We are currently evaluating the effect the standard may have in our consolidated financial statements. In August 2018 the FASB issued ASU 2018-14, Compensation – Retirement Benefits – Defined Benefit Plans – General, which modifies the disclosure requirements for employers that sponsor defined benefit plans or other postretirement plans. This ASU removes certain disclosures that no longer are considered cost beneficial, clarifies the specific requirements of certain other disclosures, and adds disclosure requirements identified as relevant. The guidance is effective for annual and interim periods beginning after December 15, 2020 with early adoption permitted. We are currently evaluating the effect the standard may have on our consolidated financial statement disclosures.

RECENTLY ADOPTED ACCOUNTING PRO

RECENTLY ADOPTED ACCOUNTING PRONOUNCEMENTS	6 Months Ended
	Jun. 30, 2020
Accounting Changes And Error Corrections [Abstract]
RECENTLY ADOPTED ACCOUNTING PRONOUNCEMENTS	(3) RECENTLY ADOPTED ACCOUNTING PRONOUNCEMENTS On August 28, 2018, the FASB issued ASU 2018-13, Fair Value Measurement: - Changes to The Disclosure Requirements for Fair Value Measurement (“ASU 2018-13”), which eliminates, adds and modifies certain disclosure requirements for fair value measurements as part of its disclosure framework project. Entities will no longer be required to disclose the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy, but public companies will be required to disclose the range and weighted average used to develop significant unobservable inputs for Level 3 fair value measurements. We adopted this standard on January 1, 2020 and it did not have any impact on our financial position, net earnings or cash flow. However, we have incorporated the modified disclosure requirements of ASU 2018-13 into note 15 of our financial statements. On June 16, 2016, the FASB issued ASU 2016-13, Financial Instruments–Credit Losses, which introduced a new model for recognizing credit losses on financial instruments based on an estimate of current expected credit losses. This model applies to: (i) loans, accounts receivable, trade receivables, and other financial assets measured at amortized cost, (ii) loan commitments and certain other off-balance sheet credit exposures, (iii) debt securities and other financial assets measured at fair value through other comprehensive income and (iv) beneficial interests in securitized financial assets. Expected credit losses are recognized on the initial recognition of our trade accounts receivable and contract assets. In each subsequent reporting period, even if a loss has not yet been incurred, credit losses are recognized based on the history of credit losses and current conditions, as well as reasonable and supportable forecasts affecting collectability. We developed an expected credit loss model applicable to our trade accounts receivable and contract assets that considers our historical performance and the economic environment, as well as the credit risk and its expected development for each group of customers that share similar risk characteristics. We segmented our trade accounts receivable and contract assets by type of client, except for individual account balances that have deteriorated in credit quality, which are evaluated individually. We then determined, for each of these client asset groups, the average expected credit loss utilizing our actual credit loss experience over the last five years, which was adjusted as discussed above, and was applied to the balance attributable to each segment in our trade accounts receivable and contract asset balances. This standard was adopted through a cumulative-effect adjustment to the accumulated deficit as of January 1, 2020, which is the beginning of the first period in which this guidance is effective. Periods prior to the adoption date that are presented for comparative purposes are not adjusted. Adopting this standard on January 1, 2020 increased the allowance for expected credit losses by approximately $ 0.2 million. Activity in the allowance for credit losses for the six months ended June 30, 2020 is as follows: Trade Due and from (In thousands) Other Receivables Affiliate Balance at January 1, 2020 $ 70 $ 20,083 Cumulative effect adjustment upon adoption of standard 163 — Current period provision for expected credit losses 323 53,581 Other — (1,705 ) Balance at June 30, 2020 $ 556 $ 71,959

REVENUE RECOGNITION

REVENUE RECOGNITION	6 Months Ended
	Jun. 30, 2020
Revenue From Contract With Customer [Abstract]
REVENUE RECOGNITION	(4) REVENUE RECOGNITION Refer to Note (13) for the amount of revenue by segment and in total for the worldwide fleet. Contract Balances At June 30, 2020, we had $5.7 million and $0.6 million of deferred mobilization costs included within other current assets and other assets, respectively. At June 30, 2020 we have $0.5 million of deferred mobilization revenue, included within other current liabilities, related to unsatisfied performance obligations of which $0.1 million will be recognized during the remainder of 2020, $0.2 million will be recognized during 2021 and the remainder recognized during 2022.

STOCKHOLDERS' EQUITY AND DILUTI

STOCKHOLDERS' EQUITY AND DILUTIVE EQUITY INSTRUMENTS	6 Months Ended
	Jun. 30, 2020
Equity [Abstract]
STOCKHOLDERS' EQUITY AND DILUTIVE EQUITY INSTRUMENTS	(5 ) STOCKHOLDERS' EQUITY AND DILUTIVE EQUITY INSTRUMENTS Accumulated Other Comprehensive Income (Loss) (OCI) The changes in accumulated other comprehensive income (loss) by component, net of tax, for the three and six months ended June 30, 2020 and 2019 are as follows: Three months ended June 30, 2020 Three months ended June 30, 2019 Balance Gains/(losses) Remaining Balance Gains/(losses) Remaining at recognized balance at recognized balance (In thousands) 3/31/20 in OCI 6/30/20 3/31/2019 in OCI 6/30/19 Pension benefits $ 133 448 581 $ 2,194 — 2,194 For the six months ended June 30, 2020 For the six months ended June 30, 2019 Balance Gains/(losses) Remaining Balance Gains/(losses) Remaining at recognized balance at recognized balance (In thousands) 12/31/19 in OCI 6/30/20 12/31/18 in OCI 6/30/19 Pension benefits (236 ) 817 581 2,194 — 2,194 Dilutive Equity Instruments We had 2,402,241 and 3,997,084 incremental "in-the-money" warrants and restricted stock units at June 30, 2020 and 2019, respectively, which are as follows: Total shares outstanding including warrants and restricted stock units June 30, 2020 June 30, 2019 Common shares outstanding 40,335,963 37,845,158 New creditor warrants (strike price $0.001 per common share) 817,742 2,034,235 GulfMark creditor warrants (strike price $0.01 per common share) 952,154 1,683,147 Restricted stock units 632,345 279,702 Total 42,738,204 41,842,242 We also had 5,923,399 shares of “out-of-the-money” warrants outstanding at June 30, 2020 and 2019, respectively. Included in these “out-of-the-money” warrants are Series A Warrants, Series B Warrants and GLF Equity Warrants which have exercise prices of $57.06, $62.28, and $100.00, respectively. Tax Benefits Preservation Plan On April 13, 2020, we adopted a Tax Benefits Preservation Plan (the “Plan”) as a measure to protect our existing net operating loss carryforwards and foreign tax credits (“Tax Attributes”) and to reduce our potential future tax liabilities. Use of our Tax Attributes will be substantially limited if we experience an “ownership change” as defined in Section 382 of the Internal Revenue Code (“Section 382”). While the Plan is in effect, any person or group that acquires beneficial ownership of 4.99% or more of our common stock then outstanding without approval from our Board of Directors (the Board) or without meeting certain customary exceptions would be subject to significant dilution in their ownership interest in our company. Stockholders who currently own 4.99% or more of our outstanding common stock will not trigger the Plan unless they acquire 0.5% or more additional shares of common stock. Pursuant to the Plan, one right will be distributed to our stockholders for each share of our common stock owned of record at the close of business on April 24, 2020. E ach right would initially represent the right to purchase from the Company one one-thousandth of a share of our Series A Junior Participating Preferred Stock, no The rights will expire on the earliest of (i) the close of business on April 13, 2023, (ii) the time at which the rights are redeemed or exchanged, or (iii) the time at which the Board determines that the Tax Attributes are fully utilized, expired, no longer necessary or become limited under Section 382.

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jun. 30, 2020
Income Tax Disclosure [Abstract]
INCOME TAXES	(6 ) INCOME TAXES We use a discrete effective tax rate method to calculate taxes for interim periods instead of applying the annual effective tax rate to an estimate of the full fiscal year due to the level of volatility and unpredictability of earnings in our industry, both overall and by jurisdiction. Income tax expense for the quarter and six months ended June 30, 2020, reflects tax liabilities in various jurisdictions that are either based on revenue (deemed profit regimes) or pre-tax profits. The tax liabilities for uncertain tax positions are primarily attributable to permanent establishment issues related to a foreign joint venture, subpart F income inclusions and withholding taxes on foreign services. Penalties and interest related to income tax liabilities are included in income tax expense. Income tax payable is included in other current liabilities. As of December 31, 2019, our balance sheet reflected approximately $101.3 million of net deferred tax assets with a valuation allowance of $103.5 million. As of June 30, 2020, we had net deferred tax assets of approximately $105.7 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 $108.1 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. The Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) was enacted on March 27, 2020 in the United States. The CARES Act includes several significant business tax provisions, that are available to the Company, that, among other things, would allow businesses to carry back net operating losses arising after 2017 to the five prior tax years. Considering the available carryback, we have recorded a tax benefit of $6.9 million related to the realization of net operating loss deferred tax assets on which a valuation allowance was previously recorded. With limited exceptions, we are no longer subject to tax audits by U.S. federal, state, local or foreign taxing authorities for years prior to 2014. We are subject to ongoing examinations by various foreign tax authorities and do not believe that the results of these examinations will have a material adverse effect on our financial position, results of operations, or cash flows.

AFFILIATES BALANCES

AFFILIATES BALANCES	6 Months Ended
	Jun. 30, 2020
Equity Method Investments And Joint Ventures [Abstract]
AFFILIATES BALANCES	(7 ) AFFILIATES BALANCES We maintained the following balances with our unconsolidated affiliates: (In thousands) June 30, 2020 December 31, 2019 Due from related parties: Sonatide (Angola) $ 47,353 $ 89,246 DTDW (Nigeria) 18,413 36,726 65,766 125,972 Due to related parties: Sonatide (Angola) $ 30,390 $ 31,475 DTDW (Nigeria) 18,413 18,711 48,803 50,186 Due from related parties, net of due to related parties $ 16,963 $ 75,786 Amounts due from Sonatide Amounts due from Sonatide represent cash received by Sonatide from customers and due to us, amounts due from customers that are expected to be remitted to us by Sonatide and costs incurred by us on behalf of Sonatide. Six Months Ended (In thousands) June 30, 2020 Due from Sonatide at December 31, 2019 $ 89,246 Revenue earned by the company through Sonatide 23,910 Less amounts received from Sonatide (16,501 ) Less amounts used to offset due to Sonatide obligations (A) (8,145 ) Affiliate credit loss impairment expense (41,500 ) Other 343 Total due from Sonatide at June 30, 2020 $ 47,353 (A) We reduced the respective due from affiliates and due to affiliates balances each period through netting transactions based on agreement with the joint venture. The amounts due from Sonatide are denominated in U.S. dollars; however, the underlying third-party customer payments to Sonatide were satisfied, in part, in Angolan kwanzas. In late 2019, we were informed that, as part of a broad privatization program, Sonangol, our partner in Sonatide, intends to seek to divest itself from the Sonatide joint venture. In the second quarter of 2020 Sonatide declared a $35.0 million dividend. On June 22, 2020, Sonangol received $17.9 million and we received $17.1 million. All of our share of the dividend is reflected as dividend income from unconsolidated company in the consolidated statement of operations because (i) our investment in the Sonatide joint venture had previously been written down to zero, (ii) the distributions are not refundable and (iii) we are not liable for the obligations of or committed to provide financial support to the Sonatide joint venture. In addition, as a result of the aforementioned dividend payment, the cash balances of the joint venture were significantly reduced and we determined that, as a result, a significant portion of our net due from Sonatide balance was compromised. After offsetting the amounts due to Sonatide, the net amount due from Sonatide at June 30, 2020 was approximately $17.0 million. Sonatide had approximately $6.9 million of cash on hand (approximately $1.2 million denominated in Angolan kwanzas) at June 30, 2020 plus approximately $18.6 million of net trade accounts receivable to satisfy the net due from Sonatide. Given prior discussions with our partner regarding how the net losses from the devaluation of certain Angolan kwanza denominated accounts should be shared, we continue to evaluate our net due from Sonatide balance for possible additional impairment in future periods based in part on available liquidity held by Sonatide. On June 30, 2020, we recorded a $41.5 million credit loss impairment expense. Amounts due to Sonatide Amounts due to Sonatide represent commissions payable and other costs paid by Sonatide on our behalf. Six Months Ended (In thousands) June 30, 2020 Due to Sonatide at December 31, 2019 $ 31,475 Plus additional commissions payable to Sonatide 2,265 Plus amounts paid by Sonatide on behalf of the company 4,843 Less amounts used to offset due from Sonatide obligations (A) (8,145 ) Other (48 ) Total due to Sonatide at June 30, 2020 $ 30,390 (A) We reduced the respective due from affiliates and due to affiliates balances each period through netting transactions based on agreement with the joint venture. Sonatide Operations Sonatide’s principal earnings are from the commissions paid by us to the joint venture for company vessels chartered in Angola. In addition, Sonatide owns two vessels that may generate operating income and cash flow. Company operations in Angola Vessel revenues generated by our Angolan operations, percent of consolidated vessel revenues, average number of company owned vessels and average number of stacked company owned vessels of our Angolan operations for the periods indicated were as follows: Three Months Ended Six Months Ended June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Revenues of Angolan operations (in thousands) $ 12,289 $ 14,272 $ 24,426 $ 29,670 Percent of consolidated vessel revenues 12 % 12 % 11 % 12 % Number of company owned vessels in Angola 26 32 27 34 Number of stacked company owned vessels in Angola 9 13 10 14 Amounts due from DTDW (Nigeria) We own 40% of the DTDW joint venture in Nigeria. Our partner, who owns 60%, is a Nigerian national. DTDW owns one offshore service vessel and has long term debt of $5.6 million which is secured by the vessel and guarantees from the DTDW partners. We also operate company owned vessels in Nigeria for which our partner receives a commission. As of June 30, 2020, we had only one company owned vessel operating in Nigeria and the DTDW owned vessel was not employed. At the beginning of 2020 we had expected th at we would be operating numerous vessels in Nigeria, but in the second quarter of 2020 the Covid pandemic and resulting oil price reduction caused our primary customer in Nigeria to eliminate all planned operations for 202 0. As a result, the near term cash flow projections indicate that DTDW does not have sufficient funds to meet its obligations to us or to the holder of its long term debt. In the June 2020 DTDW board meeting neither of the DTDW partners indicated willingness to contribute additional funds to DTDW to meet its obligations. Therefore, we have recorded affiliate credit loss impairment expense for the entire net due from DTDW balance as of June 30, 2020 totaling $ 12.1 million. In addition, based on our analysis we have determined that DTDW will be unable to pay its debt obligation and the debt will not be satisfied by liquidating the vessel and, as a result, we recorded additional impairment expense of $ 2.0 million for our expected share of the obligation guarantee.

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS	6 Months Ended
	Jun. 30, 2020
Compensation And Retirement Disclosure [Abstract]
EMPLOYEE BENEFIT PLANS	(8 ) EMPLOYEE BENEFIT PLANS U.S. Defined Benefit Pension Plan We have a defined benefit pension plan (pension plan) that covers certain U.S. citizen employees and other employees who are permanent residents of the United States. The pension plan was frozen during 2010. We did not contribute to the pension plan during the three and six months ended June 30, 2020 and 2019, and we are not required to contribute to the pension plan during the remaining quarters of calendar year 2020; however, we may, at our discretion, make contributions to the pension plan in order to manage our plan expenses. Actuarial valuations are performed annually and an assessment of the future pension obligations and market value of the assets will determine if contributions are made in the future. Supplemental Executive Retirement Plan We also support a non-contributory and non-qualified defined benefit supplemental executive retirement plan (supplemental plan) which was closed to new participants during 2010, that provided pension benefits to certain employees in excess of those allowed under our tax-qualified pension plan. We contributed $0.4 million and $0.8 million during the three and six months ended June 30, 2020 and the three and six months ended June 30, 2019, respectively. We Other Defined Benefit Pension Plans We also have defined benefit pension plans that cover certain Norwegian citizen employees and other employees who are permanent residents of Norway. Benefits are based on years of service and employee compensation. Our contributions to the Norwegian defined benefit pension plans during 2020 and 2019, were immaterial and we expect that any contributions for the remainder of calendar year 2020 will be immaterial. Substantially, all of our Norwegian employees were transferred from our defined benefit pension plans into a defined contribution plan during the first quarter of 2020. Net Periodic Benefit Costs The net periodic benefit cost for our defined benefit pension plans and supplemental plan (referred to collectively as “Pension Benefits”) is comprised of the following components: Three Months Ended Six Months Ended (In thousands) June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Pension Benefits: Service cost $ (26 ) $ (44 ) $ 14 $ 12 Interest cost 2,273 914 2,498 1,847 Expected return on plan assets (2,058 ) (513 ) (2,094 ) (1,076 ) Administrative expenses (11 ) (3 ) 12 7 Settlement loss 323 21 831 92 Amortization of net actuarial losses 35 — (9 ) — Net periodic pension cost $ 536 $ 375 $ 1,252 $ 882

DEBT

DEBT	6 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
DEBT	(9 ) DEBT The following is a summary of all debt outstanding: June 30, December 31, (In thousands) 2020 2019 Secured notes: 8.00% Senior secured notes due August 2022 (A) (B) $ 224,793 $ 224,793 Troms Offshore borrowings (C): NOK denominated notes due May 2024 8,410 10,260 NOK denominated notes due January 2026 17,533 20,788 USD denominated notes due January 2027 19,044 20,273 USD denominated notes due April 2027 20,239 21,545 $ 290,019 $ 297,659 Debt premiums and discounts, net (7,367 ) (8,725 ) Less: Current portion of long-term debt (9,437 ) (9,890 ) Total long-term debt $ 273,215 $ 279,044 (A) As of June 30, 2020 and December 31, 2019 the fair value (Level 2) of the Secured Notes was $202.3 million and $237.6 million, respectively. (B) The $19.9 million restricted cash on the balance sheet at June 30, 2020, represents approximately 65% of net proceeds from asset dispositions since the date of the last tender offer and is restricted by the terms of the Indenture. (C) We pay principal and interest on these notes semi-annually. As of June 30, 2020 and December 31, 2019, the aggregate fair value (Level 2) of the Troms Offshore borrowings was $65.2 million and $72.9 million, respectively. The weighted average interest rate of the Troms Offshore borrowings as of June 30, 2020 was 5.0%. We may from time to time seek to retire or purchase our outstanding debt through cash purchases and/or exchanges for equity securities, in open market purchases, privately negotiated transactions, tender offers, exchange offers, redemptions, one or more additional offers, or otherwise. Such repurchases or exchanges, if any, will depend on prevailing market conditions, our liquidity requirements, contractual restrictions and other factors. The amounts involved may be material.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2020
Commitments And Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	(10 ) COMMITMENTS AND CONTINGENCIES Currency Devaluation and Fluctuation Risk Due to our international operations, we are exposed to foreign currency exchange rate fluctuations against the U.S. dollar. For some of our international contracts, a portion of the revenue and local expenses are incurred in local currencies with the result that we are at risk for changes in the exchange rates between the U.S. dollar and foreign currencies. We generally do not 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, we attempt to contract a significant majority of our services in U.S. dollars. In addition, we attempt to minimize the financial impact of these risks by matching the currency of our operating costs with the currency of our revenue streams when considered appropriate. We continually monitor the currency exchange risks associated with all contracts not denominated in U.S. dollars. Legal Proceedings Various legal proceedings and claims are outstanding which arose in the ordinary course of business. In the opinion of management, the amount of ultimate liability, if any, with respect to these actions, will not have a material adverse effect on our financial position, results of operations, or cash flows.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended
	Jun. 30, 2020
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	(11 ) FAIR VALUE MEASUREMENTS Other Financial Instruments Our primary financial instruments consist of cash and cash equivalents, restricted cash, trade receivables and trade payables with book values that are considered to be representative of their respective fair values. Cash Equivalents . Our cash equivalents, which are securities with maturities less than 90 days , are held in money market funds, commercial paper or time deposit accounts with highly rated financial institutions. The carrying value for cash equivalents is considered to be representative of its fair value due to the short duration and conservative nature of the cash equivalent in vestment portfolio. As of June 30 , 2020 and December 31, 2019, we had $ 226.3 and $ 227.6 million of cash equivalents.

PROPERTIES AND EQUIPMENT, ACCRU

PROPERTIES AND EQUIPMENT, ACCRUED EXPENSES, OTHER CURRENT LIABILITIES AND OTHER LIABILITIES	6 Months Ended
	Jun. 30, 2020
Properties And Equipment Other Assets Accrued Expenses Other Current Liabilities And Other Liabilities [Abstract]
Properties and Equipment, Accrued Expenses, Other Current Liabilities and Other Liabilities	(12 ) PROPERTIES AND EQUIPMENT, ACCRUED COSTS AND EXPENSES, OTHER CURRENT LIABILITIES AND OTHER LIABILITIES Our property and equipment consist primarily of 146 active vessels, which excludes the 46 vessels we have classified as held for sale, located around the world. A summary of properties and equipment at June 30, 2020 and December 31, 2019 is as follows: June 30, December 31, (In thousands) 2020 2019 Properties and equipment: Vessels and related equipment $ 969,360 $ 1,051,558 Other properties and equipment 16,234 13,119 985,594 1,064,677 Less accumulated depreciation and amortization 145,682 125,716 Properties and equipment, net $ 839,912 $ 938,961 A summary of accrued cost and expenses is as follows: June 30, December 31, (In thousands) 2020 2019 Payroll and related payables $ 16,229 $ 16,351 Accrued vessel expenses 22,462 38,383 Accrued interest expense 4,485 4,570 Other accrued expenses 17,817 14,696 $ 60,993 $ 74,000 A summary of other current liabilities at June 30, 2020 and December 31, 2019 is as follows: June 30, December 31, (In thousands) 2020 2019 Taxes payable $ 19,498 $ 18,661 Other 6,317 5,439 $ 25,815 $ 24,100 A summary of other liabilities at June 30, 2020 and December 31, 2019 is as follows: June 30, December 31, (In thousands) 2020 2019 Pension liabilities $ 30,688 $ 32,545 Liability for uncertain tax positions 44,377 48,577 Deferred tax liability 2,791 2,571 Other 12,445 14,704 $ 90,301 $ 98,397

SEGMENT AND GEOGRAPHIC DISTRIBU

SEGMENT AND GEOGRAPHIC DISTRIBUTION OF OPERATIONS	6 Months Ended
	Jun. 30, 2020
Segment Reporting [Abstract]
SEGMENT AND GEOGRAPHIC DISTRIBUTION OF OPERATIONS	(1 3 ) SEGMENT AND GEOGRAPHIC DISTRIBUTION OF OPERATIONS The following table provides a comparison of segment revenues, vessel operating profit (loss), depreciation and amortization, and additions to properties and equipment for the three and six months ended June 30, 2020 and 2019. Vessel revenues and operating costs relate to vessels owned and operated by us while other operating revenues relate to other miscellaneous marine-related businesses. Three Months Ended Six Months Ended (In thousands) June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Revenues: Vessel revenues: Americas $ 34,044 $ 35,199 $ 65,903 $ 70,477 Middle East/Asia Pacific 23,983 20,449 48,811 40,905 Europe/Mediterranean 20,620 35,027 50,111 63,585 West Africa 22,328 32,966 48,124 68,336 Other operating revenues 1,369 2,218 5,763 4,705 $ 102,344 $ 125,859 $ 218,712 $ 248,008 Vessel operating profit (loss): Americas $ 4,505 $ 2,900 $ 3,341 $ 1,870 Middle East/Asia Pacific 599 (2,127 ) (257 ) (3,289 ) Europe/Mediterranean (1,750 ) 2,824 (203 ) (493 ) West Africa (3,984 ) 3,099 (8,847 ) 11,214 Other operating profit 1,198 1,625 2,919 3,330 $ 568 $ 8,321 $ (3,047 ) $ 12,632 Corporate expenses (8,910 ) (12,221 ) (18,952 ) (27,422 ) Long-lived asset impairments (55,482 ) (494 ) (65,689 ) 776 Affiliate credit loss impairment expense (53,581 ) — (53,581 ) — Affiliate guarantee obligation (2,000 ) — (2,000 ) — Gain on asset dispositions, net 1,660 — 6,991 — Operating loss $ (117,745 ) $ (4,394 ) $ (136,278 ) $ (14,014 ) Depreciation and amortization: Americas $ 8,073 $ 6,515 $ 15,569 $ 12,776 Middle East/Asia Pacific 5,645 5,319 11,172 9,769 Europe/Mediterranean 6,793 7,741 13,612 15,187 West Africa 6,750 5,100 13,154 9,543 Corporate 883 363 1,744 695 $ 28,144 $ 25,038 $ 55,251 $ 47,970 Additions to properties and equipment: Americas $ — $ 206 $ — $ 604 Middle East/Asia Pacific 503 2,180 1,183 3,639 Europe/Mediterranean 486 601 926 722 West Africa (73 ) 1,340 678 1,583 Corporate 710 1,430 1,288 2,325 $ 1,626 $ 5,757 $ 4,075 $ 8,873 The following table provides a comparison of total assets at June 30, 2020 and December 31, 2019: June 30, December 31, (In thousands) 2020 2019 Total assets: Americas $ 350,376 $ 375,297 Middle East/Asia Pacific 243,519 270,413 Europe/Mediterranean 327,827 358,943 West Africa 280,018 376,087 Corporate 213,935 198,788 $ 1,415,675 $ 1,579,528

RESTRUCTURING CHARGES

RESTRUCTURING CHARGES	6 Months Ended
	Jun. 30, 2020
Restructuring And Related Activities [Abstract]
RESTRUCTURING CHARGES	(14 ) RESTRUCTURING CHARGES In the fourth quarter of 2018, we finalized plans and made accruals of expected costs to abandon the duplicate office facilities in St. Rose and New Orleans, Louisiana, Houston, Texas and Aberdeen, Scotland with the final lease agreement ending in October 2026. Lease (In thousands) Exit Costs Severance Total Balance at December 31, 2019 $ 4,109 $ 272 $ 4,381 General and administrative charges 135 250 385 Cash payments (459 ) (416 ) (875 ) Balance at June 30, 2020 $ 3,785 $ 106 $ 3,891 Activity for the lease exit and severance liabilities for the six months ended June 30, 2019 was as follows: Lease (In thousands) Exit Costs Severance Total Balance at December 31, 2018 $ 6,468 $ 285 $ 6,753 General and administrative charges 109 3,836 3,945 Cash payments (1,426 ) (3,916 ) (5,342 ) Balance at June 30, 2019 $ 5,151 $ 205 $ 5,356

ASSET DISPOSITIONS, ASSETS HELD

ASSET DISPOSITIONS, ASSETS HELD FOR SALE AND ASSET IMPAIRMENTS	6 Months Ended
	Jun. 30, 2020
Asset Impairment Charges [Abstract]
ASSET DISPOSITIONS, ASSETS HELD FOR SALE AND ASSET IMPAIRMENTS	(15) ASSET DISPOSITIONS, ASSETS HELD FOR SALE AND ASSET IMPAIRMENTS In the fourth quarter of 2019, we evaluated our fleet for vessels to be considered for disposal and identified 46 vessels to be classified as held for sale. In the second quarter of 2020, we identified 22 additional vessels to be sold. The second quarter determination was largely a result of a worldwide downturn in the oil and gas industry precipitated by a global pandemic. In the first quarter of 2020, we sold 8 vessels that were held for sale and revalued the remaining 38 vessels to estimated net realizable value recording additional impairment expense of $10.2 million. In the second quarter of 2020, we sold 14 vessels that were held for sale and revalued the remaining 24 vessels to net realizable value recording additional impairment expense of $5.6 million. At June 30, 2020, when we identified the additional 22 vessels to be reclassified as assets held for sale, we recognized impairment expense of $49.9 million associated with those vessels. (in thousands, except for number of vessels data) Number of Vessels Three Months Ended March 31, 2020 Number of Vessels Three Months Ended June 30, 2020 Number of Vessels Six Months Ended June 30, 2020 Beginning balance 46 $ 39,287 38 $ 26,142 46 $ 39,287 Additions — 22 15,930 22 15,930 Sales (8 ) (2,938 ) (14 ) (7,407 ) (22 ) (10,345 ) Additional impairment — (10,207 ) — (5,601 ) — (15,808 ) Ending balance 38 $ 26,142 46 $ 29,064 46 $ 29,064 We consider the valuation approach for our assets held for sale to be a Level 3 fair value measurement due to the level of estimation involved in valuing assets to be scrapped or sold. We determined the fair value of the vessels held for sale using three methodologies depending on the vessel and on our planned method of disposition. We designated certain vessels to be scrapped and valued those vessels using scrap yard pricing schedules based on dollars per ton. Other vessels were valued based on sales agreements or using comparative sales in the marketplace reduced by 10% to factor in the effects of completing a quick sale within the next twelve months. We do not separate our asset impairment expense by segment because of the significant movement of our assets between segments. In 2020, we have sold 25 vessels, 22 of which were classified as assets held for sale and three of which were sold from the active fleet. We recognized gains on the asset sales of $5.3 million in the first quarter, $1.7 million in the second quarter and $7.0 million combined for the six months ended June 30, 2020. In early 2020, it became evident that a novel coronavirus originating in Asia (COVID-19) could become a pandemic with worldwide reach. By mid-March, when the World Health Organization declared the outbreak to be a pandemic (the “COVID-19 pandemic”), much of the industrialized world had initiated severe measures to lessen its impact. The ongoing COVID-19 pandemic has created significant volatility, uncertainty, and economic disruption during the first quarter of 2020. With respect to our particular sector, the COVID-19 pandemic has resulted in a much lower demand for oil as national, regional, and local governments impose travel restrictions, border closings, restrictions on public gatherings, stay at home orders, and limitations on business operations in order to contain its spread. During this same time period, oil-producing countries have struggled to reach consensus on worldwide production levels, resulting in both a market oversupply of oil and a precipitous fall in oil prices. Combined, these conditions have adversely affected our operations and business beginning in the latter part of the first quarter of 2020 and continuing throughout the second quarter of 2020. We expect our operations and business in the remainder of 2020 to continue to be negatively impacted. The reduction in demand for hydrocarbons together with an unprecedented decline in the price of oil has resulted in our primary customers, the oil and gas companies, making material reductions to their planned spending on offshore projects, compounding the effect of the virus on offshore operations. Further, these conditions, separately or together, are expected to continue to impact the demand for our services, the utilization and/or rates we can achieve for our assets and services, and the outlook for our industry in general. We consider these events to be indicators that the value of our active offshore vessel fleet may be impaired. As a result, as of March 31, 2020 and June 30, 2020, we performed Step 1 evaluations of our active offshore fleet under FASB Accounting Standards Codification 360, which governs the methodology for identifying and recording impairment of long-lived assets to determine if any of our asset groups have net book value in excess of undiscounted future net cash flows. Our evaluations did not indicate impairment of any of our asset groups. We will continue to monitor the expected future cash flows and the fair market value of our asset groups for impairment.

RECENTLY ADOPTED ACCOUNTING P_2

RECENTLY ADOPTED ACCOUNTING PRONOUNCEMENTS (Tables)	6 Months Ended
	Jun. 30, 2020
Accounting Changes And Error Corrections [Abstract]
Schedule of Activity in the Allowance for Credit Losses	Activity in the allowance for credit losses for the six months ended June 30, 2020 is as follows: Trade Due and from (In thousands) Other Receivables Affiliate Balance at January 1, 2020 $ 70 $ 20,083 Cumulative effect adjustment upon adoption of standard 163 — Current period provision for expected credit losses 323 53,581 Other — (1,705 ) Balance at June 30, 2020 $ 556 $ 71,959

STOCKHOLDERS' EQUITY AND DILU_2

STOCKHOLDERS' EQUITY AND DILUTIVE EQUITY INSTRUMENTS (Tables)	6 Months Ended
	Jun. 30, 2020
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 three and six months ended June 30, 2020 and 2019 are as follows: Three months ended June 30, 2020 Three months ended June 30, 2019 Balance Gains/(losses) Remaining Balance Gains/(losses) Remaining at recognized balance at recognized balance (In thousands) 3/31/20 in OCI 6/30/20 3/31/2019 in OCI 6/30/19 Pension benefits $ 133 448 581 $ 2,194 — 2,194 For the six months ended June 30, 2020 For the six months ended June 30, 2019 Balance Gains/(losses) Remaining Balance Gains/(losses) Remaining at recognized balance at recognized balance (In thousands) 12/31/19 in OCI 6/30/20 12/31/18 in OCI 6/30/19 Pension benefits (236 ) 817 581 2,194 — 2,194
Summary of Common Shares and Creditor Warrants and Sum of Common Shares and Creditor Warrants Outstanding	Total shares outstanding including warrants and restricted stock units June 30, 2020 June 30, 2019 Common shares outstanding 40,335,963 37,845,158 New creditor warrants (strike price $0.001 per common share) 817,742 2,034,235 GulfMark creditor warrants (strike price $0.01 per common share) 952,154 1,683,147 Restricted stock units 632,345 279,702 Total 42,738,204 41,842,242

AFFILIATES BALANCES (Tables)

AFFILIATES BALANCES (Tables)	6 Months Ended
	Jun. 30, 2020
Equity Method Investments And Joint Ventures [Abstract]
Schedule of Balances with Unconsolidated Affiliates	We maintained the following balances with our unconsolidated affiliates: (In thousands) June 30, 2020 December 31, 2019 Due from related parties: Sonatide (Angola) $ 47,353 $ 89,246 DTDW (Nigeria) 18,413 36,726 65,766 125,972 Due to related parties: Sonatide (Angola) $ 30,390 $ 31,475 DTDW (Nigeria) 18,413 18,711 48,803 50,186 Due from related parties, net of due to related parties $ 16,963 $ 75,786
Schedule of Amounts Due from Affiliate	Six Months Ended (In thousands) June 30, 2020 Due from Sonatide at December 31, 2019 $ 89,246 Revenue earned by the company through Sonatide 23,910 Less amounts received from Sonatide (16,501 ) Less amounts used to offset due to Sonatide obligations (A) (8,145 ) Affiliate credit loss impairment expense (41,500 ) Other 343 Total due from Sonatide at June 30, 2020 $ 47,353 (A) We reduced the respective due from affiliates and due to affiliates balances each period through netting transactions based on agreement with the joint venture.
Schedule of Amounts Due to Affiliate	Six Months Ended (In thousands) June 30, 2020 Due to Sonatide at December 31, 2019 $ 31,475 Plus additional commissions payable to Sonatide 2,265 Plus amounts paid by Sonatide on behalf of the company 4,843 Less amounts used to offset due from Sonatide obligations (A) (8,145 ) Other (48 ) Total due to Sonatide at June 30, 2020 $ 30,390 (A) We reduced the respective due from affiliates and due to affiliates balances each period through netting transactions based on agreement with the joint venture.
Summary of Operations in Angola	Vessel revenues generated by our Angolan operations, percent of consolidated vessel revenues, average number of company owned vessels and average number of stacked company owned vessels of our Angolan operations for the periods indicated were as follows: Three Months Ended Six Months Ended June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Revenues of Angolan operations (in thousands) $ 12,289 $ 14,272 $ 24,426 $ 29,670 Percent of consolidated vessel revenues 12 % 12 % 11 % 12 % Number of company owned vessels in Angola 26 32 27 34 Number of stacked company owned vessels in Angola 9 13 10 14

EMPLOYEE BENEFIT PLANS (Tables)

EMPLOYEE BENEFIT PLANS (Tables)	6 Months Ended
	Jun. 30, 2020
Compensation And Retirement Disclosure [Abstract]
Schedule of Net Periodic Benefit Costs	The net periodic benefit cost for our defined benefit pension plans and supplemental plan (referred to collectively as “Pension Benefits”) is comprised of the following components: Three Months Ended Six Months Ended (In thousands) June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Pension Benefits: Service cost $ (26 ) $ (44 ) $ 14 $ 12 Interest cost 2,273 914 2,498 1,847 Expected return on plan assets (2,058 ) (513 ) (2,094 ) (1,076 ) Administrative expenses (11 ) (3 ) 12 7 Settlement loss 323 21 831 92 Amortization of net actuarial losses 35 — (9 ) — Net periodic pension cost $ 536 $ 375 $ 1,252 $ 882

DEBT (Tables)

DEBT (Tables)	6 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Summary of Debt Outstanding	The following is a summary of all debt outstanding: June 30, December 31, (In thousands) 2020 2019 Secured notes: 8.00% Senior secured notes due August 2022 (A) (B) $ 224,793 $ 224,793 Troms Offshore borrowings (C): NOK denominated notes due May 2024 8,410 10,260 NOK denominated notes due January 2026 17,533 20,788 USD denominated notes due January 2027 19,044 20,273 USD denominated notes due April 2027 20,239 21,545 $ 290,019 $ 297,659 Debt premiums and discounts, net (7,367 ) (8,725 ) Less: Current portion of long-term debt (9,437 ) (9,890 ) Total long-term debt $ 273,215 $ 279,044 (A) As of June 30, 2020 and December 31, 2019 the fair value (Level 2) of the Secured Notes was $202.3 million and $237.6 million, respectively. (B) The $19.9 million restricted cash on the balance sheet at June 30, 2020, represents approximately 65% of net proceeds from asset dispositions since the date of the last tender offer and is restricted by the terms of the Indenture. (C) We pay principal and interest on these notes semi-annually. As of June 30, 2020 and December 31, 2019, the aggregate fair value (Level 2) of the Troms Offshore borrowings was $65.2 million and $72.9 million, respectively. The weighted average interest rate of the Troms Offshore borrowings as of June 30, 2020 was 5.0%.

PROPERTIES AND EQUIPMENT, ACC_2

PROPERTIES AND EQUIPMENT, ACCRUED EXPENSES, OTHER CURRENT LIABILITIES AND OTHER LIABILITIES (Tables)	6 Months Ended
	Jun. 30, 2020
Properties And Equipment Other Assets Accrued Expenses Other Current Liabilities And Other Liabilities [Abstract]
Summary of Properties and Equipment	A summary of properties and equipment at June 30, 2020 and December 31, 2019 is as follows: June 30, December 31, (In thousands) 2020 2019 Properties and equipment: Vessels and related equipment $ 969,360 $ 1,051,558 Other properties and equipment 16,234 13,119 985,594 1,064,677 Less accumulated depreciation and amortization 145,682 125,716 Properties and equipment, net $ 839,912 $ 938,961
Schedule of Accrued Cost and Expenses	A summary of accrued cost and expenses is as follows: June 30, December 31, (In thousands) 2020 2019 Payroll and related payables $ 16,229 $ 16,351 Accrued vessel expenses 22,462 38,383 Accrued interest expense 4,485 4,570 Other accrued expenses 17,817 14,696 $ 60,993 $ 74,000
Schedule of Other Current Liabilities	A summary of other current liabilities at June 30, 2020 and December 31, 2019 is as follows: June 30, December 31, (In thousands) 2020 2019 Taxes payable $ 19,498 $ 18,661 Other 6,317 5,439 $ 25,815 $ 24,100
Schedule of Other Liabilities and Deferred Credits	A summary of other liabilities at June 30, 2020 and December 31, 2019 is as follows: June 30, December 31, (In thousands) 2020 2019 Pension liabilities $ 30,688 $ 32,545 Liability for uncertain tax positions 44,377 48,577 Deferred tax liability 2,791 2,571 Other 12,445 14,704 $ 90,301 $ 98,397

SEGMENT AND GEOGRAPHIC DISTRI_2

SEGMENT AND GEOGRAPHIC DISTRIBUTION OF OPERATIONS (Tables)	6 Months Ended
	Jun. 30, 2020
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 three and six months ended June 30, 2020 and 2019. Vessel revenues and operating costs relate to vessels owned and operated by us while other operating revenues relate to other miscellaneous marine-related businesses. Three Months Ended Six Months Ended (In thousands) June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Revenues: Vessel revenues: Americas $ 34,044 $ 35,199 $ 65,903 $ 70,477 Middle East/Asia Pacific 23,983 20,449 48,811 40,905 Europe/Mediterranean 20,620 35,027 50,111 63,585 West Africa 22,328 32,966 48,124 68,336 Other operating revenues 1,369 2,218 5,763 4,705 $ 102,344 $ 125,859 $ 218,712 $ 248,008 Vessel operating profit (loss): Americas $ 4,505 $ 2,900 $ 3,341 $ 1,870 Middle East/Asia Pacific 599 (2,127 ) (257 ) (3,289 ) Europe/Mediterranean (1,750 ) 2,824 (203 ) (493 ) West Africa (3,984 ) 3,099 (8,847 ) 11,214 Other operating profit 1,198 1,625 2,919 3,330 $ 568 $ 8,321 $ (3,047 ) $ 12,632 Corporate expenses (8,910 ) (12,221 ) (18,952 ) (27,422 ) Long-lived asset impairments (55,482 ) (494 ) (65,689 ) 776 Affiliate credit loss impairment expense (53,581 ) — (53,581 ) — Affiliate guarantee obligation (2,000 ) — (2,000 ) — Gain on asset dispositions, net 1,660 — 6,991 — Operating loss $ (117,745 ) $ (4,394 ) $ (136,278 ) $ (14,014 ) Depreciation and amortization: Americas $ 8,073 $ 6,515 $ 15,569 $ 12,776 Middle East/Asia Pacific 5,645 5,319 11,172 9,769 Europe/Mediterranean 6,793 7,741 13,612 15,187 West Africa 6,750 5,100 13,154 9,543 Corporate 883 363 1,744 695 $ 28,144 $ 25,038 $ 55,251 $ 47,970 Additions to properties and equipment: Americas $ — $ 206 $ — $ 604 Middle East/Asia Pacific 503 2,180 1,183 3,639 Europe/Mediterranean 486 601 926 722 West Africa (73 ) 1,340 678 1,583 Corporate 710 1,430 1,288 2,325 $ 1,626 $ 5,757 $ 4,075 $ 8,873
Comparison of Total Assets	The following table provides a comparison of total assets at June 30, 2020 and December 31, 2019: June 30, December 31, (In thousands) 2020 2019 Total assets: Americas $ 350,376 $ 375,297 Middle East/Asia Pacific 243,519 270,413 Europe/Mediterranean 327,827 358,943 West Africa 280,018 376,087 Corporate 213,935 198,788 $ 1,415,675 $ 1,579,528

RESTRUCTURING CHARGES (Tables)

RESTRUCTURING CHARGES (Tables)	6 Months Ended
	Jun. 30, 2020
Restructuring And Related Activities [Abstract]
Summary of Lease Exit and Severance Liabilities	Lease (In thousands) Exit Costs Severance Total Balance at December 31, 2019 $ 4,109 $ 272 $ 4,381 General and administrative charges 135 250 385 Cash payments (459 ) (416 ) (875 ) Balance at June 30, 2020 $ 3,785 $ 106 $ 3,891 Activity for the lease exit and severance liabilities for the six months ended June 30, 2019 was as follows: Lease (In thousands) Exit Costs Severance Total Balance at December 31, 2018 $ 6,468 $ 285 $ 6,753 General and administrative charges 109 3,836 3,945 Cash payments (1,426 ) (3,916 ) (5,342 ) Balance at June 30, 2019 $ 5,151 $ 205 $ 5,356

ASSET IMPAIRMENTS (Tables)

ASSET IMPAIRMENTS (Tables)	6 Months Ended
	Jun. 30, 2020
Asset Impairment Charges [Abstract]
Summary of Impairments	(in thousands, except for number of vessels data) Number of Vessels Three Months Ended March 31, 2020 Number of Vessels Three Months Ended June 30, 2020 Number of Vessels Six Months Ended June 30, 2020 Beginning balance 46 $ 39,287 38 $ 26,142 46 $ 39,287 Additions — 22 15,930 22 15,930 Sales (8 ) (2,938 ) (14 ) (7,407 ) (22 ) (10,345 ) Additional impairment — (10,207 ) — (5,601 ) — (15,808 ) Ending balance 38 $ 26,142 46 $ 29,064 46 $ 29,064

Recently Adopted Accounting P_3

Recently Adopted Accounting Pronouncements - Additional Information (Detail) $ in Millions	6 Months Ended
	Jun. 30, 2020USD ($)
Accounting Changes And Error Corrections [Abstract]
Reduction in trade and other receivables,net	$ 0.2

Recently Adopted Accounting P_4

Recently Adopted Accounting Pronouncements - Schedule of Activity in the Allowance for Credit Losses (Detail) $ in Thousands	6 Months Ended
	Jun. 30, 2020USD ($)
Financing Receivable Allowance For Credit Losses [Line Items]
Balance at June 30, 2020	$ 556
Trade And Others Receivables [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Balance at January 1, 2020	70
Cumulative effect adjustment upon adoption of standard	163
Current period provision for expected credit losses	323
Balance at June 30, 2020	556
Due from Affiliates [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Balance at January 1, 2020	20,083
Current period provision for expected credit losses	53,581
Other	(1,705)
Balance at June 30, 2020	$ 71,959

Revenue Recognition - Additiona

Revenue Recognition - Additional Information (Detail) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Jun. 30, 2020
Unsatisfied Performance Obligations
Disaggregation Of Revenue [Line Items]
Deferred mobilization revenue included within other current liabilities				$ 0.5
Unsatisfied Performance Obligations | Scenario, Forecast
Disaggregation Of Revenue [Line Items]
Deferred mobilization revenue included within other current liabilities	$ 0.2	$ 0.2	$ 0.1
Vessel Mobilization
Disaggregation Of Revenue [Line Items]
Deferred costs included within other current assets and other assets				5.7
Vessel Mobilization | Other Assets
Disaggregation Of Revenue [Line Items]
Deferred costs included within other current assets and other assets				$ 0.6

Changes in Accumulated Other Co

Changes in Accumulated Other Comprehensive Income (Loss) by Component, Net of Tax (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	$ 998,896	$ 1,127,685	$ 1,016,410	$ 1,144,923
Balance	890,000	1,115,539	890,000	1,115,539
Pension Benefits
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	133	2,194	(236)	2,194
Gains/(losses) recognized in OCI	448	0	817	0
Balance	$ 581	$ 2,194	$ 581	$ 2,194

Stockholders' Equity and Dilu_3

Stockholders' Equity and Dilutive Equity Instruments - Additional Information (Detail)	Apr. 24, 2020shares$ / shares	Apr. 13, 2020	Jun. 30, 2020$ / sharesshares	Jun. 30, 2019$ / sharesshares
Stockholders Equity Note [Line Items]
Rights expiration description		The rights will expire on the earliest of (i) the close of business on April 13, 2023, (ii) the time at which the rights are redeemed or exchanged, or (iii) the time at which the Board determines that the Tax Attributes are fully utilized, expired, no longer necessary or become limited under Section 382
Series A Junior Participating Preferred Stock
Stockholders Equity Note [Line Items]
Number of shares allowed to purchase for each right | shares	0.001
Par value of shares allowed to purchase under right
Purchase price of each right	38
Price of redemption of each right	$ 0.001
Beneficial Owner
Stockholders Equity Note [Line Items]
Percentage of ownership interest subject to dilution		4.99%
Equity method ownership percentage		4.99%
Percentage of additional ownership interest to be acquired by existing shareholders subject to dilution		0.50%
In-the-money Warrants and Restricted Stock Awards and Units
Stockholders Equity Note [Line Items]
Incremental "in-the-money" warrants, and restricted stock awards and units | shares			2,402,241	3,997,084
Out-of-the-money Warrants
Stockholders Equity Note [Line Items]
Warrants outstanding | shares			5,923,399	5,923,399
Out-of-the-money Warrants | Series A Warrants
Stockholders Equity Note [Line Items]
Warrants exercise prices			$ 57.06	$ 57.06
Out-of-the-money Warrants | Series B Warrants
Stockholders Equity Note [Line Items]
Warrants exercise prices			62.28	62.28
Out-of-the-money Warrants | GLF Equity Warrants
Stockholders Equity Note [Line Items]
Warrants exercise prices			$ 100	$ 100

Stockholders' Equity and Dilu_4

Stockholders' Equity and Dilutive Equity Instruments - Summary of Common Shares and Creditor Warrants and Sum of Common Shares and Creditor Warrants Outstanding (Details) - shares	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Stockholders Equity Note [Line Items]
Common stock, shares outstanding	40,335,963	37,845,158	39,941,327
Restricted stock units	632,345	279,702
Total	42,738,204	41,842,242
New Creditor Warrants (Strike Price $0.001 Per Common Share)
Stockholders Equity Note [Line Items]
Creditor warrants	817,742	2,034,235
GulfMark Creditor Warrants (Strike Price $0.01 Per Common Share)
Stockholders Equity Note [Line Items]
Creditor warrants	952,154	1,683,147

Stockholders' Equity and Dilu_5

Stockholders' Equity and Dilutive Equity Instruments - Summary of Common Shares and Creditor Warrants and Sum of Common Shares and Creditor Warrants Outstanding (Parenthetical) (Details) - $ / shares	Jun. 30, 2020	Jun. 30, 2019
New Creditor Warrants (Strike Price $0.001 Per Common Share)
Stockholders Equity Note [Line Items]
Strike price per common share	$ 0.001	$ 0.001
GulfMark Creditor Warrants (Strike Price $0.01 Per Common Share)
Stockholders Equity Note [Line Items]
Strike price per common share	$ 0.01	$ 0.01

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	Jun. 30, 2020	Mar. 27, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Net deferred tax assets	$ 105.7		$ 101.3
Valuation allowance	$ 108.1		$ 103.5
Tax benefit		$ 6.9

Schedule of Balances with Uncon

Schedule of Balances with Unconsolidated Affiliates (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Due from related parties:
Total due from related parties	$ 65,766	$ 125,972
Total due from related parties	65,766	125,972
Due to related parties:
Total due to related parties	48,803	50,186
Due from related parties, net of due to related parties	16,963	75,786
Total due to related parties	48,803	50,186
Sonatide Marine, Ltd. | ANGOLA
Due from related parties:
Total due from related parties	47,353	89,246
Total due from related parties	47,353	89,246
Due to related parties:
Total due to related parties	30,390	31,475
Total due to related parties	30,390	31,475
DTDW Holdings, Ltd. | NIGERIA
Due from related parties:
Total due from related parties	18,413	36,726
Total due from related parties	18,413	36,726
Due to related parties:
Total due to related parties	18,413	18,711
Total due to related parties	$ 18,413	$ 18,711

Schedule of Amounts Due from Af

Schedule of Amounts Due from Affiliate (Detail) - USD ($) $ in Thousands		3 Months Ended	6 Months Ended
		Jun. 30, 2020	Jun. 30, 2020
Schedule of Equity Method Investments [Line Items]
Beginning balance			$ 125,972
Affiliate credit loss impairment expense		$ (53,581)	(53,581)
Ending balance		65,766	65,766
Sonatide Marine, Ltd.
Schedule of Equity Method Investments [Line Items]
Beginning balance			89,246
Revenue earned by the company through Sonatide			23,910
Less amounts received from Sonatide			(16,501)
Less amounts used to offset Due to Sonatide obligations	[1]		(8,145)
Affiliate credit loss impairment expense			(41,500)
Other			343
Ending balance		$ 47,353	$ 47,353
[1]	We reduced the respective due from affiliates and due to affiliates balances each period through netting transactions based on agreement with the joint venture.

Affiliates Balances - Additiona

Affiliates Balances - Additional Information (Detail) $ in Thousands	Jun. 30, 2020USD ($)	Jun. 22, 2020USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2020USD ($)Vessel
Schedule of Equity Method Investments [Line Items]
Dividend received by Sonangol company		$ 17,100
Affiliate credit loss impairment expense			$ 53,581	$ 53,581
Sonatide Marine, Ltd.
Schedule of Equity Method Investments [Line Items]
Due from affiliate current net after offsetting due to affiliate	$ 17,000		17,000	17,000
Cash	6,900		6,900	$ 6,900
Credit loss impairment expense	41,500
Number of vessels operating | Vessel				2
Affiliate credit loss impairment expense				$ 41,500
Sonatide Marine, Ltd. | Angola, Kwanza
Schedule of Equity Method Investments [Line Items]
Cash	1,200		1,200	1,200
Sonatide Marine, Ltd. | Trade And Others Receivables [Member]
Schedule of Equity Method Investments [Line Items]
Net trade accounts receivable	$ 18,600		$ 18,600	$ 18,600
DTDW (Neigeria)
Schedule of Equity Method Investments [Line Items]
Number of vessels operating | Vessel				1
Equity method ownership percentage	40.00%		40.00%	40.00%
Partners ownership Percentage	60.00%		60.00%	60.00%
Secured long-term debt	$ 5,600		$ 5,600	$ 5,600
Affiliate credit loss impairment expense				12,100
Guarantor obligations, maximum exposure	$ 2,000		$ 2,000	2,000
Sonatide Marine, Ltd.
Schedule of Equity Method Investments [Line Items]
Dividend declared				35,000
Written down of investments from joint venture				$ 0
Sonatide Marine, Ltd.
Schedule of Equity Method Investments [Line Items]
Dividend received by Sonangol company		$ 17,900

Schedule of Amounts Due to Affi

Schedule of Amounts Due to Affiliate (Detail) $ in Thousands	6 Months Ended
	Jun. 30, 2020USD ($)
Schedule of Equity Method Investments [Line Items]
Beginning balance	$ 50,186
Ending balance	48,803
Sonatide Marine, Ltd.
Schedule of Equity Method Investments [Line Items]
Beginning balance	31,475
Plus additional commissions payable to Sonatide	2,265
Plus amounts paid by Sonatide on behalf of the company	4,843
Less amounts used to offset Due from Sonatide obligations	(8,145)	[1]
Other	(48)
Ending balance	$ 30,390
[1]	We reduced the respective due from affiliates and due to affiliates balances each period through netting transactions based on agreement with the joint venture.

Summary of Operations in Angola

Summary of Operations in Angola (Detail) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020USD ($)Vessel	Jun. 30, 2019USD ($)Vessel	Jun. 30, 2020USD ($)Vessel	Jun. 30, 2019USD ($)Vessel
Schedule of Equity Method Investments [Line Items]
Revenues of Angolan operations (in thousands) | $	$ 102,344	$ 125,859	$ 218,712	$ 248,008
ANGOLA
Schedule of Equity Method Investments [Line Items]
Revenues of Angolan operations (in thousands) | $	$ 12,289	$ 14,272	$ 24,426	$ 29,670
Percent of consolidated vessel revenues	12.00%	12.00%	11.00%	12.00%
Number of company owned vessels in Angola | Vessel	26	32	27	34
Number of stacked company owned vessels in Angola | Vessel	9	13	10	14

Employee Benefit Plans - Additi

Employee Benefit Plans - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2020	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Pension Plans, Defined Benefit
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, employer contributions	$ 0	$ 0		$ 0	$ 0
Supplemental Executive Retirement Plan
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, employer contributions	0.4	$ 0.4		0.8	$ 0.8
Obligations under the supplemental plan	$ 21.2			$ 21.2		$ 21.4
Supplemental Executive Retirement Plan | Scenario, Forecast
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, employer contributions			$ 0.8

Schedule of Net Periodic Benefi

Schedule of Net Periodic Benefit Costs (Detail) - Pension Benefits - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Net Period Benefit Cost Assumptions [Line Items]
Service cost	$ (26)	$ (44)	$ 14	$ 12
Interest cost	2,273	914	2,498	1,847
Expected return on plan assets	(2,058)	(513)	(2,094)	(1,076)
Administrative expenses	(11)	(3)	12	7
Settlement loss	323	21	831	92
Amortization of net actuarial losses	35		(9)
Net periodic pension cost	$ 536	$ 375	$ 1,252	$ 882

Summary of Debt Outstanding (De

Summary of Debt Outstanding (Detail) - USD ($) $ in Thousands		Jun. 30, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Amount outstanding	[1]	$ 290,019	$ 297,659
Debt premiums and discounts, net		(7,367)	(8,725)
Less: Current portion of long-term debt		(9,437)	(9,890)
Total long-term debt		273,215	279,044
8.00% Senior Secured Notes Due August 2022
Debt Instrument [Line Items]
Secured notes	[2],[3]	224,793	224,793
Norwegian Kroner Denominated Notes Due May 2024 | Troms Offshore Supply AS
Debt Instrument [Line Items]
Amount outstanding	[1]	8,410	10,260
Norwegian Kroner Denominated Notes Due January 2026 | Troms Offshore Supply AS
Debt Instrument [Line Items]
Amount outstanding	[1]	17,533	20,788
United States Dollar Denominated Notes Due January 2027 | Troms Offshore Supply AS
Debt Instrument [Line Items]
Amount outstanding	[1]	19,044	20,273
United States Dollar Denominated Notes Due April 2027 | Troms Offshore Supply AS
Debt Instrument [Line Items]
Amount outstanding	[1]	$ 20,239	$ 21,545
[1]	We pay principal and interest on these notes semi-annually.  As of June 30, 2020 and December 31, 2019, the aggregate fair value (Level 2) of the Troms Offshore borrowings was $65.2 million and $72.9 million, respectively. The weighted average interest rate of the Troms Offshore borrowings as of June 30, 2020 was 5.0%.
[2]	As of June 30, 2020 and December 31, 2019 the fair value (Level 2) of the Secured Notes was $202.3 million and $237.6 million, respectively.
[3]	The $19.9 million restricted cash on the balance sheet at June 30, 2020, represents approximately 65% of net proceeds from asset dispositions since the date of the last tender offer and is restricted by the terms of the Indenture.

Summary of Debt Outstanding (Pa

Summary of Debt Outstanding (Parenthetical) (Detail) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Dec. 31, 2019	Jun. 30, 2020
Debt Instrument [Line Items]
Restricted cash	$ 5,755	$ 19,880
Percentage of net proceeds from asset dispositions		65.00%
Troms Offshore Supply AS
Debt Instrument [Line Items]
Description of frequency of periodic payments on notes		semi-annually
Weighted average interest rate of debt borrowings		5.00%
Troms Offshore Supply AS | Level 2
Debt Instrument [Line Items]
Fair value of debt outstanding	$ 72,900	$ 65,200
8.00% Senior Secured Notes Due August 2022
Debt Instrument [Line Items]
Debt instrument interest rate	8.00%	8.00%
Debt Instrument Maturity Period	August 2022	August 2022
8.00% Senior Secured Notes Due August 2022 | Level 2
Debt Instrument [Line Items]
Fair value of debt outstanding	$ 237,600	$ 202,300
Norwegian Kroner Denominated Notes Due May 2024 | Troms Offshore Supply AS
Debt Instrument [Line Items]
Debt Instrument Maturity Period	May 2024	May 2024
Norwegian Kroner Denominated Notes Due January 2026 | Troms Offshore Supply AS
Debt Instrument [Line Items]
Debt Instrument Maturity Period	January 2026	January 2026
United States Dollar Denominated Notes Due January 2027 | Troms Offshore Supply AS
Debt Instrument [Line Items]
Debt Instrument Maturity Period	January 2027	January 2027
United States Dollar Denominated Notes Due April 2027 | Troms Offshore Supply AS
Debt Instrument [Line Items]
Debt Instrument Maturity Period	April 2027	April 2027

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Fair Value Disclosures [Abstract]
Cash equivalents maturity period, days	90 days
Cash equivalents	$ 226.3	$ 227.6

Properties and Equipment, Acc_3

Properties and Equipment, Accrued Expenses, Other Current Liabilities and Other Liabilities - Additional Information (Details)	6 Months Ended
	Jun. 30, 2020Vessel
Properties And Equipment Other Assets Accrued Expenses Other Current Liabilities And Other Liabilities [Abstract]
Number of vessels	146
Number Of vessels held for sale	46

Summary of Properties and Equip

Summary of Properties and Equipment (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Property Plant And Equipment [Abstract]
Vessels and related equipment	$ 969,360	$ 1,051,558
Other properties and equipment	16,234	13,119
Properties and equipment, gross	985,594	1,064,677
Less accumulated depreciation and amortization	145,682	125,716
Properties and equipment, net	$ 839,912	$ 938,961

Schedule of Accrued Cost and Ex

Schedule of Accrued Cost and Expenses (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Accounts Payable and Accrued Liabilities Current [Abstract]
Payroll and related payables	$ 16,229	$ 16,351
Accrued vessel expenses	22,462	38,383
Accrued interest expense	4,485	4,570
Other accrued expenses	17,817	14,696
Accrued cost and expenses	$ 60,993	$ 74,000

Schedule of Other Current Liabi

Schedule of Other Current Liabilities (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Other Liabilities Current [Abstract]
Taxes payable	$ 19,498	$ 18,661
Other	6,317	5,439
Other current liabilities	$ 25,815	$ 24,100

Schedule of Other Liabilities a

Schedule of Other Liabilities and Deferred Credits (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Deferred Credits and Other Liabilities [Abstract]
Pension liabilities	$ 30,688	$ 32,545
Liability for uncertain tax positions	44,377	48,577
Deferred tax liability	2,791	2,571
Other	12,445	14,704
Other liabilities and deferred credits	$ 90,301	$ 98,397

Segment Information, Geographic

Segment Information, Geographical Data and Major Customers (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Segment Reporting Information [Line Items]
Total revenues	$ 102,344	$ 125,859	$ 218,712	$ 248,008
Operating profit (loss)	568	8,321	(3,047)	12,632
Corporate expenses	(8,910)	(12,221)	(18,952)	(27,422)
Long-lived asset impairments	(55,482)	(494)	(65,689)	776
Affiliate credit loss impairment expense	(53,581)		(53,581)
Affiliate guarantee obligation	(2,000)		(2,000)
Gain on asset dispositions, net	1,660	(494)	6,991	776
Operating loss	(117,745)	(4,394)	(136,278)	(14,014)
Depreciation and amortization	28,144	25,038	55,251	47,970
Additions to properties and equipment	1,626	5,757	4,075	8,873
All Other Segments
Segment Reporting Information [Line Items]
Operating profit (loss)	1,198	1,625	2,919	3,330
Operating Segments | Americas
Segment Reporting Information [Line Items]
Operating profit (loss)	4,505	2,900	3,341	1,870
Depreciation and amortization	8,073	6,515	15,569	12,776
Additions to properties and equipment		206		604
Operating Segments | Middle East/Asia Pacific
Segment Reporting Information [Line Items]
Operating profit (loss)	599	(2,127)	(257)	(3,289)
Depreciation and amortization	5,645	5,319	11,172	9,769
Additions to properties and equipment	503	2,180	1,183	3,639
Operating Segments | Europe/Mediterranean
Segment Reporting Information [Line Items]
Operating profit (loss)	(1,750)	2,824	(203)	(493)
Depreciation and amortization	6,793	7,741	13,612	15,187
Additions to properties and equipment	486	601	926	722
Operating Segments | West Africa Segment
Segment Reporting Information [Line Items]
Operating profit (loss)	(3,984)	3,099	(8,847)	11,214
Depreciation and amortization	6,750	5,100	13,154	9,543
Additions to properties and equipment	(73)	1,340	678	1,583
Corporate
Segment Reporting Information [Line Items]
Depreciation and amortization	883	363	1,744	695
Additions to properties and equipment	710	1,430	1,288	2,325
Service | Operating Segments | Americas
Segment Reporting Information [Line Items]
Total revenues	34,044	35,199	65,903	70,477
Service | Operating Segments | Middle East/Asia Pacific
Segment Reporting Information [Line Items]
Total revenues	23,983	20,449	48,811	40,905
Service | Operating Segments | Europe/Mediterranean
Segment Reporting Information [Line Items]
Total revenues	20,620	35,027	50,111	63,585
Service | Operating Segments | West Africa Segment
Segment Reporting Information [Line Items]
Total revenues	22,328	32,966	48,124	68,336
Other Operating Revenues
Segment Reporting Information [Line Items]
Total revenues	$ 1,369	$ 2,218	$ 5,763	$ 4,705

Comparison of Total Assets (Det

Comparison of Total Assets (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Segment and Geographic Distribution of Operations [Line Items]
Assets	$ 1,415,675	$ 1,579,528
Operating Segments | Americas
Segment and Geographic Distribution of Operations [Line Items]
Assets	350,376	375,297
Operating Segments | Middle East/Asia Pacific
Segment and Geographic Distribution of Operations [Line Items]
Assets	243,519	270,413
Operating Segments | Europe/Mediterranean
Segment and Geographic Distribution of Operations [Line Items]
Assets	327,827	358,943
Operating Segments | West Africa
Segment and Geographic Distribution of Operations [Line Items]
Assets	280,018	376,087
Corporate
Segment and Geographic Distribution of Operations [Line Items]
Assets	$ 213,935	$ 198,788

Summary of Lease Exit and Sever

Summary of Lease Exit and Severance Liabilities (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Restructuring Cost And Reserve [Line Items]
Beginning balance	$ 4,381	$ 6,753
General and administrative charges	385	3,945
Cash payments	(875)	(5,342)
Ending balance	3,891	5,356
Lease Exit Costs
Restructuring Cost And Reserve [Line Items]
Beginning balance	4,109	6,468
General and administrative charges	135	109
Cash payments	(459)	(1,426)
Ending balance	3,785	5,151
Severance
Restructuring Cost And Reserve [Line Items]
Beginning balance	272	285
General and administrative charges	250	3,836
Cash payments	(416)	(3,916)
Ending balance	$ 106	$ 205

Asset Dispositions, Asset Held

Asset Dispositions, Asset Held for Sale and Asset Impairments - Additional Information (Detail) $ in Thousands	3 Months Ended					6 Months Ended
	Jun. 30, 2020USD ($)Vessel	Mar. 31, 2020USD ($)Vessel	Dec. 31, 2019Vessel	Jun. 30, 2019USD ($)	Mar. 31, 2019USD ($)	Jun. 30, 2020USD ($)Vessel	Jun. 30, 2019USD ($)
Long Term Purchase Commitment [Line Items]
Number Of vessels held for sale						46
Number of vessels sold	14	8				22
Long-lived asset impairments | $	$ 55,482			$ 494		$ 65,689	$ (776)
Percentage reduction in the value of vessels						10.00%
Active Vessels
Long Term Purchase Commitment [Line Items]
Number Of vessels held for sale			46			22
Number of additional vessels sold						22
Number of vessels sold		8				14
Number of revalued vessels sold					38	24
Long-lived asset impairments | $					$ 10,200	$ 5,600
Impairment expense | $						$ 49,900
Stacked and Active Vessels
Long Term Purchase Commitment [Line Items]
Number Of vessels held for sale						22
Number of vessels sold						25
Number Of Vessels Active	3					3
Gains on the asset sales | $	$ 1,700	$ 5,300				$ 7,000

Summary of Impairments (Detail)

Summary of Impairments (Detail) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020USD ($)Vessel	Mar. 31, 2020USD ($)Vessel	Jun. 30, 2020USD ($)Vessel
Asset Impairment Charges [Abstract]
Beginning balance | Vessel	38	46	46
Additions | Vessel	22		22
Sales | Vessel	(14)	(8)	(22)
Ending balance | Vessel	46	38	46
Beginning balance	$ 26,142	$ 39,287	$ 39,287
Additions	15,930		15,930
Sales	(7,407)	(2,938)	(10,345)
Additional impairment	(5,601)	(10,207)	(15,808)
Ending balance	$ 29,064	$ 26,142	$ 29,064