TIDEWATER INC (TDW) [Rocket]

In millions, except per share items	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18	Mar-31-17	Mar-31-16	Mar-31-15	Mar-31-14
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Revenues:
Americas						343.0	505.7	410.7
Other						636.1	989.8	1,024.4
Total revenues [+]	371.0	397.0	486.5	406.5	601.6	979.1	1,495.5	1,435.1
Services						955.4	1,468.4	1,418.5
Other						23.7	27.2	16.6
Revenue growth [+]	-6.5%	-18.4%	19.7%		-38.6%	-34.5%	4.2%	15.3%
Americas						-32.2%	23.1%	25.6%
Asia/Pacific						-41.0%	-2.5%	-16.0%
Cost of goods sold [+]	264.0	274.2	332.0	275.1	371.9	579.9	860.9	811.6
Other cost of sales	2.2	3.4	2.8	5.5	12.7	18.8	26.5	15.7
Direct costs	261.8	268.8	329.2	269.6	359.2	561.1	834.4	795.9
Gross profit	107.0	122.9	154.6	131.4	229.7	399.1	634.6	623.5
Gross margin	28.8%	30.9%	31.8%	32.3%	38.2%	40.8%	42.4%	43.4%
Selling, general and administrative [+]	68.5	73.4	103.7	110.0	145.9	153.8	189.8	188.0
General and administrative	68.5	73.4	103.7	110.0	145.9	153.8	189.8	188.0
Equity in earnings	-3.3	0.2	-3.2	-18.9	5.7	-13.6	10.2	15.8
Other operating expenses	0.4	53.0		20.1	33.8	33.7	28.3	21.9
EBITDA [+]	-6.6	-47.1	22.8	-24.5	55.8	198.1	426.7	429.4
EBITDA growth	-86.0%	-306.5%	-193.0%		-71.8%	-53.6%	-0.6%	19.6%
EBITDA margin	-1.8%	-11.9%	4.7%	-6.0%	9.3%	20.2%	28.5%	29.9%
Depreciation and amortization	73.2	73.0	77.0	51.3	167.3	182.3	175.2	167.5
EBIT [+]	-79.8	-120.1	-54.2	-75.9	-111.5	15.8	251.5	261.9
EBIT growth	-33.6%	121.4%	-28.5%		-807.8%	-93.7%	-4.0%	23.6%
EBIT margin	-21.5%	-30.3%	-11.1%	-18.7%	-18.5%	1.6%	16.8%	18.2%
Non-recurring items [+]	18.5	66.5	35.5	50.5	460.6	98.9	278.5	44.6
Asset impairment	15.6	74.1	37.8	61.1	484.7	117.3	298.2	65.6
Loss (gain) on sale of assets	2.9	-7.6	-2.3	-10.6	-24.1	-26.0	-23.8	-21.1
Interest expense, net [+]	15.6	24.2	29.1	30.4	75.0	51.0	48.1	41.7
Interest expense	15.6	24.2	29.1	30.4	75.0	53.8	50.0	43.8
Interest income						2.7	1.9	2.1
Other income (expense), net [+]	-9.8	13.1	5.3	3.3	3.6	-5.4	8.7	-2.6
Gain (loss) on debt retirement	-11.1			-8.1				-4.1
Gain (loss) on foreign currency transactions	-0.4	-5.2	-1.3	0.1	-1.6	-5.4	8.7	1.5
Pre-tax income	-123.8	-197.7	-113.5	-153.5	-643.6	-139.6	-66.4	173.0
Income taxes	5.9	-1.0	27.7	18.3	6.4	20.8	-1.1	32.8
Tax rate		0.5%					1.6%	19.0%
Minority interest	-0.7	-0.5	0.5	-0.3	10.1	-0.2	-0.2
Net income	-129.0	-196.2	-141.7	-171.5	-660.1	-160.2	-65.2	140.3
Net margin	-34.8%	-49.4%	-29.1%	-42.2%	-109.7%	-16.4%	-4.4%	9.8%

Basic EPS [+]	($3.14)	($4.86)	($3.71)	($6.45)	($14.02)	($3.41)	($1.34)	$2.84
Growth	-35.3%	31.1%	-42.5%		311.3%	154.5%	-147.2%	-6.7%
Diluted EPS [+]	($3.14)	($4.86)	($3.71)	($6.45)	($14.02)	($3.41)	($1.34)	$2.82
Growth	-35.3%	31.1%	-42.5%		311.3%	154.5%	-147.5%	-6.9%

Dividends per share [+]						$0.75	$1.00	$1.00
Growth					-100.0%	-25.0%	0.0%	0.0%

Shares outstanding (basic) [+]	41.0	40.4	38.2	26.6	47.1	47.0	48.7	49.4
Growth	1.6%	5.6%	43.7%		0.2%	-3.4%	-1.5%	-0.3%
Shares outstanding (diluted) [+]	41.0	40.4	38.2	26.6	47.1	47.0	48.7	49.7
Growth	1.6%	5.6%	43.7%		0.2%	-3.4%	-2.1%	-0.1%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.