Tidewater (TDW) 10-Q2 May 242024 Q1 Quarterly reportFinancial data

Company Profile

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
Document And Entity Information - shares	Mar. 31, 2024	Apr. 30, 2024
Document Information [Line Items]
Entity Central Index Key	0000098222
Entity Registrant Name	TIDEWATER INC
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2024
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
Document Transition Report	false
Entity File Number	1-6311
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	72-0487776
Entity Address, Address Line One	842 West Sam Houston Parkway North, Suite 400
Entity Address, City or Town	Houston
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77024
City Area Code	713
Local Phone Number	470-5300
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		52,762,223
Warrants to Purchase Shares of Common Stock [Member]
Document Information [Line Items]
Title of 12(b) Security	Warrants to purchase shares of common stock
Trading Symbol	TDW.WS
Security Exchange Name	NYSE
Common Stock [Member]
Document Information [Line Items]
Title of 12(b) Security	Common stock, $0.001 par value per share
Trading Symbol	TDW
Security Exchange Name	NYSE

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 280,853	$ 274,437
Restricted cash	6,474	1,241
Trade and other receivables, net of allowance for credit losses of $3,687 and $15,914 at March 31, 2024 and December 31, 2023, respectively	285,968	268,352
Marine operating supplies	24,767	31,933
Prepaid expenses and other current assets	17,447	15,172
Total current assets	615,509	591,135
Net properties and equipment	1,286,618	1,315,122
Deferred drydocking and survey costs	128,639	106,698
Other assets	30,408	32,449
Total assets	2,077,816	2,062,774
Current liabilities:
Accounts payable	51,774	44,931
Accrued expenses	132,190	125,590
Current portion of long-term debt	103,009	103,077
Other current liabilities	52,164	55,133
Total current liabilities	339,137	328,731
Long-term debt	620,329	631,361
Other liabilities	63,197	64,985
Commitments and contingencies
Equity:
Common stock of $0.001 par value, 125,000,000 shares authorized, 52,759,223 and 52,259,303 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively	53	52
Additional paid-in capital	1,646,061	1,671,759
Accumulated deficit	(594,347)	(637,838)
Accumulated other comprehensive income	5,209	5,266
Total stockholders’ equity	1,056,976	1,039,239
Noncontrolling interests	(1,823)	(1,542)
Total equity	1,055,153	1,037,697
Total liabilities and equity	2,077,816	2,062,774
Swire Pacific Offshore Holdings Ltd. [Member]
Current assets:
Indemnification assets	$ 16,642	$ 17,370

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($)	Mar. 31, 2024	Dec. 31, 2023
Allowance for credit losses	$ 3,687	$ 15,914
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	125,000,000	125,000,000
Common stock, shares issued (in shares)	52,759,223	52,259,303
Common stock, shares outstanding (in shares)	52,759,223	52,259,303

Condensed Consolidated Income S

Condensed Consolidated Income Statements (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Revenues:
Revenue	$ 321,164	$ 193,104
Costs and expenses:
Vessel operating costs	167,556	115,459
Costs of other operating revenues	1,150	1,151
General and administrative	25,329	23,545
Depreciation and amortization	56,270	30,666
Gain on asset dispositions, net	(11,039)	(2,216)
Total costs and expenses	239,266	168,605
Operating income	81,898	24,499
Other income (expense):
Foreign exchange gain (loss)	(4,085)	2,348
Equity in net losses of unconsolidated companies	(5)	0
Interest income and other, net	1,483	130
Interest and other debt costs, net	(19,476)	(4,190)
Total other expense	(22,083)	(1,712)
Income before income taxes	59,815	22,787
Income tax expense	13,070	11,971
Net income	46,745	10,816
Net income (loss) attributable to noncontrolling interests	(281)	78
Net income attributable to Tidewater Inc.	$ 47,026	$ 10,738
Basic income per common share (in dollars per share)	$ 0.9	$ 0.21
Diluted income per common share (in dollars per share)	$ 0.89	$ 0.21
Weighted average common shares outstanding (in shares)	52,320	50,604
Dilutive effect of warrants, restricted stock units and stock options (in shares)	580	1,368
Adjusted weighted average common shares (in shares)	52,900	51,972
Vessel [Member]
Revenues:
Revenue	$ 318,686	$ 191,180
Product and Service, Other [Member]
Revenues:
Revenue	$ 2,478	$ 1,924

Condensed Consolidated Statemen

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Net income	$ 46,745	$ 10,816
Other comprehensive income (loss):
Unrealized gain (loss) on note receivable	80	(132)
Change in liability of pension plans	(137)	(190)
Total comprehensive income	$ 46,688	$ 10,494

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Operating activities:
Net income	$ 46,745	$ 10,816
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	38,811	21,048
Amortization of deferred drydocking and survey costs	17,459	9,618
Amortization of debt premium and discounts	1,814	420
Amortization of below market contracts	(1,206)	0
Provision for deferred income taxes	73	35
Gain on asset dispositions, net	(11,039)	(2,216)
Stock-based compensation expense	2,766	2,103
Changes in assets and liabilities, net of effects of business acquisition:
Trade and other receivables	(17,616)	(25,733)
Accounts payable	6,843	25,829
Accrued expenses	6,600	1,830
Deferred drydocking and survey costs	(40,018)	(31,325)
Other, net	3,533	369
Net cash provided by operating activities	54,765	12,794
Cash flows from investing activities:
Proceeds from asset dispositions	12,463	5,716
Additions to properties and equipment	(10,942)	(8,651)
Net cash provided by (used in) investing activities	1,521	(2,935)
Cash flows from financing activities:
Principal payments on long-term debt	(12,500)	0
Purchase of common stock	(3,501)	0
Acquisition of non-controlling interest in a majority owned subsidiary	0	(1,427)
Debt issuance costs	(135)	0
Share based awards reacquired to pay taxes	(28,462)	(3,747)
Net cash used in financing activities	(44,598)	(5,174)
Net change in cash, cash equivalents and restricted cash	11,688	4,685
Cash, cash equivalents and restricted cash at beginning of period	277,965	167,977
Cash, cash equivalents and restricted cash at end of period	289,653	172,662
Restricted Cash	2,300
Supplemental disclosure of cash flow information:
Interest, net of amounts capitalized	15,621	98
Income taxes	$ 15,603	$ 17,057

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Equity (Unaudited) - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Noncontrolling Interest [Member]	Total
Balance at December 31, 2023 and 2022 at Dec. 31, 2022	$ 51	$ 1,556,990	$ (699,649)	$ 8,576	$ 22	$ 865,990
Total comprehensive income (loss)	0	0	10,738	(322)	78	10,494
Amortization of share-based awards	0	(1,644)	0	0	0	(1,644)
Acquisition of non-controlling interest in a majority owned subsidiary	0	(1,427)	0	0	0	(1,427)
Balance at March 31, 2024 and 2023 at Mar. 31, 2023	51	1,553,919	(688,911)	8,254	100	873,413
Balance at December 31, 2023 and 2022 at Dec. 31, 2023	52	1,671,759	(637,838)	5,266	(1,542)	1,037,697
Total comprehensive income (loss)	0	0	47,026	(57)	(281)	46,688
Issuance of common stock	1	(1)	0	0	0	0
Repurchase and retirement of common stock	0	0	(3,535)	0	0	(3,535)
Amortization of share-based awards	0	(25,697)	0	0	0	(25,697)
Balance at March 31, 2024 and 2023 at Mar. 31, 2024	$ 53	$ 1,646,061	$ (594,347)	$ 5,209	$ (1,823)	$ 1,055,153

Note 1 - Interim Financial Stat

Note 1 - Interim Financial Statements	3 Months Ended
Note 1 - Interim Financial Statements	Mar. 31, 2024
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	1 INTERIM FINANCIAL STATEMENTS The accompanying unaudited condensed consolidated financial statements reflect the financial position, results of operations, comprehensive income, cash flows, and changes in stockholders’ equity of Tidewater Inc., a Delaware corporation, and its consolidated subsidiaries, collectively referred to as the “company”, “Tidewater”, “we”, “our”, or “us”. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with United States (U.S.) generally accepted accounting principles (GAAP) for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission (SEC) for interim financial information. Accordingly, certain information and disclosures normally included in our annual financial statements have been condensed or omitted. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in our Annual Report on Form 10 December 31, 2023 February 29, 2024 2023 not may Our quarterly results for the three March 31, 2024 December 31, 2023 10Q third 2023. July 5, 2023, July 2028. 8 We have determined that, under the provisions of FASB Accounting Standard Codification (ASC) 805, Our financial statements have been prepared on a consolidated basis. Under this basis of presentation, our financial statements consolidate all subsidiaries (entities in which we have a controlling financial interest), and all intercompany accounts and transactions have been eliminated. We use the equity method to account for equity investments over which we exercise significant influence but do not not Certain prior year amounts have been reclassified to conform to the current year presentation. Unless otherwise specified, all per share information included in this document is on a diluted basis.

Note 2 - Recently Issued or Ado

Note 2 - Recently Issued or Adopted Accounting Pronouncements	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Accounting Standards Update and Change in Accounting Principle [Text Block]	( 2 RECENTLY ISSUED OR ADOPTED ACCOUNTING PRONOUNCEMENTS In November 2023, 2023 07, December 15, 2023 December 15, 2024. In December 2023, 2023 09, December 15, 2024.

Note 3 - Allowance for Credit L

Note 3 - Allowance for Credit Losses	3 Months Ended
Note 3 - Allowance for Credit Losses	Mar. 31, 2024
Notes to Financial Statements
Allowance for Credit Losses [Text Block]	( 3 ALLOWANCE FOR CREDIT LOSSES 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 Activity in the allowance for credit losses for the three March 31, 2024 Trade (In Thousands) and Other Receivables Balance at January 1, 2024 $ 15,914 Current period credit for expected credit losses (987 ) Write offs (A) (10,908 ) Other (332 ) Balance at March 31, 2024 $ 3,687 (A) Write off of the remaining balance due from our Nigerian joint venture.

Note 4 - Revenue Recognition

Note 4 - Revenue Recognition	3 Months Ended
Note 4 - Revenue Recognition	Mar. 31, 2024
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	( 4 REVENUE RECOGNITION See “Note ( 12 Contract Balances At March 31, 2024 At March 31, 2024 2024 2026.

Note 5 - Stockholders' Equity a

Note 5 - Stockholders' Equity and Dilutive Equity Instruments	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Equity [Text Block]	( 5 STOCKHOLDERS’ EQUITY AND DILUTIVE EQUITY INSTRUMENTS Earnings per share For the three March 31, 2024 2023, Accumulated Other Comprehensive Income The following tables present the changes in accumulated other comprehensive income (OCI) by component, net of tax: (In Thousands) Three Months Ended March 31, 2024 March 31, 2023 Balance at December 31, 2023 and 2022 $ 5,266 $ 8,576 Unrealized gain (loss) on note receivable 80 (132 ) Pension benefits recognized in OCI (137 ) (190 ) Balance at March 31, 2024 and 2023 $ 5,209 $ 8,254 Dilutive Equity Instruments The following table presents the changes in the number of common shares, incremental “in-the-money” warrants, restricted stock units and stock options outstanding: Total shares outstanding including warrants, restricted stock units and stock options March 31, 2024 March 31, 2023 Common shares outstanding 52,759,223 50,780,847 New creditor warrants (strike price $ 0.001 81,244 81,244 GulfMark creditor warrants (strike price $ 0.01 88,887 107,877 Restricted stock units and stock options 582,908 1,637,393 Total 53,512,262 52,607,361 We also have 783,009 “out-of-the-money” warrants outstanding and exercisable for 861,310 shares (based on a 1 1.1 March 31, 2024 November 24, 2024. August 1, 2023, July 31, 2023. July 2023, July 31, 2023. No Common Stock Repurchases In February 2024, March 31, 2024,

Note 6 - Income Taxes

Note 6 - Income Taxes	3 Months Ended
Note 6 - Income Taxes	Mar. 31, 2024
Notes to Financial Statements
Income Tax Disclosure [Text Block]	( 6 INCOME TAXES Income tax rates and taxation systems in the jurisdictions where we and our subsidiaries conduct business vary and our subsidiaries are frequently subjected to minimum taxation regimes. In some jurisdictions, tax liabilities are based on gross revenues, statutory deemed profits or other factors, rather than on net income. 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. For the three March 31, 2024 The tax liabilities for uncertain tax positions are primarily attributable to permanent establishment issues related to foreign jurisdictions, 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, 2023 March 31, 2024 March 31, 2024 2022 Management assesses all available positive and negative evidence to permit use of existing deferred tax assets. With limited exceptions, we are no March 2017. not

Note 7 - Employee Benefit Plans

Note 7 - Employee Benefit Plans	3 Months Ended
Note 7 - Employee Benefit Plans	Mar. 31, 2024
Notes to Financial Statements
Retirement Benefits [Text Block]	( 7 EMPLOYEE BENEFIT PLANS U.S. Defined Benefit Pension Plan We sponsor a defined benefit pension plan (pension plan) that was frozen in 2010 not 2019. Supplemental Executive Retirement Plan We support a non-contributory and non-qualified defined benefit supplemental executive retirement plan (supplemental plan) that was closed to new participants during 2010. three March 31, 2024 2023 2024. March 31, 2024 December 31, 2023 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: (In Thousands) Three Months Ended March 31, 2024 March 31, 2023 Pension Benefits: Interest cost $ 630 $ 846 Expected return on plan assets (445 ) (688 ) Amortization of net actuarial gains (30 ) (66 ) Net periodic pension cost $ 155 $ 92 The components of the net periodic pension cost are included in the caption “Interest income and other, net.”

Note 8 - Debt

Note 8 - Debt	3 Months Ended
Note 8 - Debt	Mar. 31, 2024
Notes to Financial Statements
Debt Disclosure [Text Block]	( 8 DEBT The following is a summary of all debt outstanding: (In Thousands) March 31, 2024 December 31, 2023 Senior bonds: Senior Secured Term Loan (A) $ 300,000 $ 312,500 10.375 250,000 250,000 8.50 175,000 175,000 Supplier Facility Agreements 13,836 14,151 $ 738,836 $ 751,651 Debt discount and issuance costs (15,498 ) (17,213 ) Less: Current portion of long-term debt (103,009 ) (103,077 ) Total long-term debt $ 620,329 $ 631,361 (A) As of March 31, 2024 December 31, 2023 3 (B) As of March 31, 2024 December 31, 2023 2 July 2028 (C) As of March 31, 2024 December 31, 2023 2 November 2026 (D) Approximately $5.0 million of the amount in restricted cash on the condensed consolidated balance sheet at March 31, 2024 Senior Secured Term Loan Tidewater entered into a Credit Agreement, by and among Tidewater, as parent guarantor, TDW International Vessels (Unrestricted), LLC, a Delaware limited liability company and a wholly-owned subsidiary of the Company (“TDW International”), as borrower, certain other unrestricted subsidiaries of Tidewater, as other security parties, the lenders party thereto, DNB Bank ASA, New York Branch (“DNB Bank”), as facility agent and DNB Markets, Inc. (“DNB Markets”), as bookrunner and mandated lead arranger (the “Credit Agreement”), which was fully drawn on July 5, 2023, The Senior Secured Term Loan is composed of a $100.0 million Tranche A loan and a $225.0 million Tranche B loan, each maturing on July 5, 2026. July 2024, three may 100% 66% 50% The Credit Agreement contains three not 2:1. 10.375% Senior Unsecured Notes due July 2028 On July 3, 2023, 99%, 1933, The Senior Unsecured Notes were issued pursuant to the Bond Terms, dated as of June 30, 2023 not The Senior Unsecured Notes matures on July 3, 2028. January 3 July 3 January 3, 2024. July 3, 2025 The Senior Unsecured Notes contain two November 16, 2023, 20 8.5% November 2026 The 2026 November 15, 2021 ( 2026 The 2026 The 2026 November 16, 2026. 2026 May November 2026 May 16, 2024 The 2026 two 2026 Supplier Facility Agreements We signed agreements for the construction of ten may March 31, 2024 EUR13.9 four ten first six three four fourth 2023 fourth second 2024. no Credit Facility Agreement We have entered into a Credit Facility Agreement providing for a Super Senior Secured Revolving Credit Facility maturing on November 16, 2026 2026 .

Note 9 - Commitments and Contin

Note 9 - Commitments and Contingencies	3 Months Ended
Note 9 - Commitments and Contingencies	Mar. 31, 2024
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	( 9 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 not Legal Proceedings We are named defendants or parties in certain lawsuits, claims or proceedings incidental to our business and involved from time to time as parties to governmental investigations or proceedings arising in the ordinary course of business. Although the outcome of such lawsuits or other proceedings cannot be predicted with certainty and the amount of any liability that could arise with respect to such lawsuits or other proceedings cannot be predicted accurately, we do not

Note 10 - Fair Value Measuremen

Note 10 - Fair Value Measurements	3 Months Ended
Note 10 - Fair Value Measurements	Mar. 31, 2024
Notes to Financial Statements
Fair Value Measurement and Measurement Inputs, Recurring and Nonrecurring [Text Block]	( 10 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. 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. In the second 2022, seven three March 31, 2024 March 31, 2024 2.

Note 11 - Properties and Equipm

Note 11 - Properties and Equipment, Accrued Expenses, Other Current Liabilities, and Other Liabilities	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Other Assets Accrued Expenses Other Current Liabilities And Other Liabilities And Deferred Credits [Text Block]	( 11 PROPERTIES AND EQUIPMENT, ACCRUED EXPENSES, OTHER CURRENT LIABILITIES AND OTHER LIABILITIES As of March 31, 2024 December 31, 2023 EUR2.7 may 2024 2025 EUR10.7 A summary of properties and equipment is as follows: (In Thousands) March 31, 2024 December 31, 2023 Properties and equipment: Vessels and related equipment $ 1,712,643 $ 1,716,339 Other properties and equipment 41,625 32,447 1,754,268 1,748,786 Less accumulated depreciation and amortization 467,650 433,664 Properties and equipment, net $ 1,286,618 $ 1,315,122 A summary of accrued expenses is as follows: (In Thousands) March 31, 2024 December 31, 2023 Payroll and related payables $ 38,936 $ 34,989 Accrued vessel expenses 46,381 48,076 Accrued interest expense 19,202 17,128 Other accrued expenses 27,671 25,397 $ 132,190 $ 125,590 A summary of other current liabilities is as follows: (In Thousands) March 31, 2024 December 31, 2023 Taxes payable $ 43,164 $ 44,461 Other 9,000 10,672 $ 52,164 $ 55,133 A summary of other liabilities is as follows: (In Thousands) March 31, 2024 December 31, 2023 Pension liabilities $ 19,094 $ 19,003 Liability for uncertain tax positions 24,742 27,319 Other 19,361 18,663 $ 63,197 $ 64,985

Note 12 - Segment and Geographi

Note 12 - Segment and Geographic Distribution of Operations	3 Months Ended
Note 12 - Segment and Geographic Distribution of Operations	Mar. 31, 2024
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	( 12 SEGMENT AND GEOGRAPHIC DISTRIBUTION OF OPERATIONS Each of our five 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 March 31, 2024 2023 (In Thousands) Three Months Ended March 31, 2024 March 31, 2023 Revenues: Vessel revenues: Americas $ 63,941 $ 47,687 Asia Pacific 47,781 22,024 Middle East 37,932 30,762 Europe/Mediterranean 80,381 31,250 West Africa 88,651 59,457 Other operating revenues 2,478 1,924 Total $ 321,164 $ 193,104 Vessel operating profit (loss): Americas $ 10,126 $ 7,962 Asia Pacific 14,847 5,568 Middle East 1,529 (344 ) Europe/Mediterranean 14,757 2,036 West Africa 41,010 17,221 Other operating profit 1,328 773 83,597 33,216 Corporate expenses (12,738 ) (10,933 ) Gain on asset dispositions, net 11,039 2,216 Operating income $ 81,898 $ 24,499 Depreciation and amortization: Americas $ 10,943 $ 8,194 Asia Pacific 4,032 1,465 Middle East 7,273 5,735 Europe/Mediterranean 21,438 7,350 West Africa 11,838 7,521 Corporate 746 401 Total $ 56,270 $ 30,666 Additions to properties and equipment: Americas $ 3,495 $ 521 Asia Pacific 194 4,403 Middle East 834 1,550 Europe/Mediterranean 5,493 232 West Africa 211 589 Corporate 715 1,356 Total $ 10,942 $ 8,651 The following table provides a comparison of total assets at March 31, 2024 December 31, 2023 (In Thousands) March 31, 2024 December 31, 2023 Total assets: Americas $ 388,140 $ 418,151 Asia Pacific 193,734 167,085 Middle East 183,945 191,927 Europe/Mediterranean 669,886 671,626 West Africa 438,677 421,054 Corporate 203,434 192,931 $ 2,077,816 $ 2,062,774

Note 13 - Asset Dispositions, A

Note 13 - Asset Dispositions, Assets Held for Sale and Asset Impairments	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Asset Impairment Charges [Text Block]	( 13 ASSET DISPOSITIONS, ASSETS HELD FOR SALE AND ASSET IMPAIRMENTS During the three March 31, 2024 three March 31, 2023, three March 31, 2023 March 31, 2024 December 31, 2023

Note 3 - Allowance for Credit_2

Note 3 - Allowance for Credit Losses (Tables)	3 Months Ended
Note 3 - Allowance for Credit Losses (Tables)	Mar. 31, 2024
Notes Tables
Financing Receivable, Allowance for Credit Loss [Table Text Block]	Trade (In Thousands) and Other Receivables Balance at January 1, 2024 $ 15,914 Current period credit for expected credit losses (987 ) Write offs (A) (10,908 ) Other (332 ) Balance at March 31, 2024 $ 3,687

Note 5 - Stockholders' Equity_2

Note 5 - Stockholders' Equity and Dilutive Equity Instruments (Tables)	3 Months Ended
	Mar. 31, 2024
Notes Tables
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	(In Thousands) Three Months Ended March 31, 2024 March 31, 2023 Balance at December 31, 2023 and 2022 $ 5,266 $ 8,576 Unrealized gain (loss) on note receivable 80 (132 ) Pension benefits recognized in OCI (137 ) (190 ) Balance at March 31, 2024 and 2023 $ 5,209 $ 8,254
Schedule of Total Shares Outstanding Including Warrants and Restricted Stock Units [Table Text Block]	Total shares outstanding including warrants, restricted stock units and stock options March 31, 2024 March 31, 2023 Common shares outstanding 52,759,223 50,780,847 New creditor warrants (strike price $ 0.001 81,244 81,244 GulfMark creditor warrants (strike price $ 0.01 88,887 107,877 Restricted stock units and stock options 582,908 1,637,393 Total 53,512,262 52,607,361

Note 7 - Employee Benefit Pla_2

Note 7 - Employee Benefit Plans (Tables)	3 Months Ended
Note 7 - Employee Benefit Plans (Tables)	Mar. 31, 2024
Notes Tables
Schedule of Net Benefit Costs [Table Text Block]	(In Thousands) Three Months Ended March 31, 2024 March 31, 2023 Pension Benefits: Interest cost $ 630 $ 846 Expected return on plan assets (445 ) (688 ) Amortization of net actuarial gains (30 ) (66 ) Net periodic pension cost $ 155 $ 92

Note 8 - Debt (Tables)

Note 8 - Debt (Tables)	3 Months Ended
Note 8 - Debt (Tables)	Mar. 31, 2024
Notes Tables
Schedule of Long-Term Debt Instruments [Table Text Block]	(In Thousands) March 31, 2024 December 31, 2023 Senior bonds: Senior Secured Term Loan (A) $ 300,000 $ 312,500 10.375 250,000 250,000 8.50 175,000 175,000 Supplier Facility Agreements 13,836 14,151 $ 738,836 $ 751,651 Debt discount and issuance costs (15,498 ) (17,213 ) Less: Current portion of long-term debt (103,009 ) (103,077 ) Total long-term debt $ 620,329 $ 631,361

Note 11 - Properties and Equi_2

Note 11 - Properties and Equipment, Accrued Expenses, Other Current Liabilities, and Other Liabilities (Tables)	3 Months Ended
	Mar. 31, 2024
Notes Tables
Property, Plant and Equipment [Table Text Block]	(In Thousands) March 31, 2024 December 31, 2023 Properties and equipment: Vessels and related equipment $ 1,712,643 $ 1,716,339 Other properties and equipment 41,625 32,447 1,754,268 1,748,786 Less accumulated depreciation and amortization 467,650 433,664 Properties and equipment, net $ 1,286,618 $ 1,315,122
Schedule of Accrued Liabilities [Table Text Block]	(In Thousands) March 31, 2024 December 31, 2023 Payroll and related payables $ 38,936 $ 34,989 Accrued vessel expenses 46,381 48,076 Accrued interest expense 19,202 17,128 Other accrued expenses 27,671 25,397 $ 132,190 $ 125,590
Other Current Liabilities [Table Text Block]	(In Thousands) March 31, 2024 December 31, 2023 Taxes payable $ 43,164 $ 44,461 Other 9,000 10,672 $ 52,164 $ 55,133
Other Liabilities [Table Text Block]	(In Thousands) March 31, 2024 December 31, 2023 Pension liabilities $ 19,094 $ 19,003 Liability for uncertain tax positions 24,742 27,319 Other 19,361 18,663 $ 63,197 $ 64,985

Note 12 - Segment and Geograp_2

Note 12 - Segment and Geographic Distribution of Operations (Tables)	3 Months Ended
	Mar. 31, 2024
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	(In Thousands) Three Months Ended March 31, 2024 March 31, 2023 Revenues: Vessel revenues: Americas $ 63,941 $ 47,687 Asia Pacific 47,781 22,024 Middle East 37,932 30,762 Europe/Mediterranean 80,381 31,250 West Africa 88,651 59,457 Other operating revenues 2,478 1,924 Total $ 321,164 $ 193,104 Vessel operating profit (loss): Americas $ 10,126 $ 7,962 Asia Pacific 14,847 5,568 Middle East 1,529 (344 ) Europe/Mediterranean 14,757 2,036 West Africa 41,010 17,221 Other operating profit 1,328 773 83,597 33,216 Corporate expenses (12,738 ) (10,933 ) Gain on asset dispositions, net 11,039 2,216 Operating income $ 81,898 $ 24,499 Depreciation and amortization: Americas $ 10,943 $ 8,194 Asia Pacific 4,032 1,465 Middle East 7,273 5,735 Europe/Mediterranean 21,438 7,350 West Africa 11,838 7,521 Corporate 746 401 Total $ 56,270 $ 30,666 Additions to properties and equipment: Americas $ 3,495 $ 521 Asia Pacific 194 4,403 Middle East 834 1,550 Europe/Mediterranean 5,493 232 West Africa 211 589 Corporate 715 1,356 Total $ 10,942 $ 8,651 (In Thousands) March 31, 2024 December 31, 2023 Total assets: Americas $ 388,140 $ 418,151 Asia Pacific 193,734 167,085 Middle East 183,945 191,927 Europe/Mediterranean 669,886 671,626 West Africa 438,677 421,054 Corporate 203,434 192,931 $ 2,077,816 $ 2,062,774

Note 1 - Interim Financial St_2

Note 1 - Interim Financial Statements (Details Textual) $ in Millions	Jul. 05, 2023 USD ($)	Mar. 31, 2024	Jul. 03, 2023
Unsecured Debt [Member]
Debt Instrument, Interest Rate, Stated Percentage	10.375%	10.375%	10.375%
Vessels From Solstad Offshore ASA [Member]
Number of Platform Support Vessels	37
Payments to Acquire Productive Assets	$ 594.2

Note 3 - Allowance for Credit_3

Note 3 - Allowance for Credit Losses - Schedule for Allowance for Credit Losses on Financing Receivables (Details) - Trade Accounts Receivable [Member] $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($)
Balance	$ 15,914
Current period credit for expected credit losses	(987)
Write offs (A)	(10,908)	[1]
Other	(332)
Balance	$ 3,687

[1]Write off of the remaining balance due from our Nigerian joint venture.

Note 4 - Revenue Recognition (D

Note 4 - Revenue Recognition (Details Textual) - Vessel [Member] $ in Millions	Mar. 31, 2024 USD ($)
Prepaid Expenses and Other Current Assets [Member]
Contract with Customer, Asset, after Allowance for Credit Loss, Current	$ 5.5
Other Assets [Member]
Contract with Customer, Asset, after Allowance for Credit Loss, Current	1.8
Accounts Payable and Accrued Liabilities [Member]
Contract with Customer, Asset, after Allowance for Credit Loss, Current	5.7
Other Liabilities [Member]
Contract with Customer, Liability, Noncurrent	$ 2.6

Note 5 - Stockholders' Equity_3

Note 5 - Stockholders' Equity and Dilutive Equity Instruments (Details Textual) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended	3 Months Ended
	Jul. 31, 2023	Mar. 31, 2024	Feb. 29, 2024	Mar. 31, 2023
Share Repurchase Program [Member]
Share Repurchase Program, Authorized, Amount			$ 48.6
Stock Repurchased and Retired During Period, Shares (in shares)		38,831
Stock Repurchased and Retired During Period, Value		$ 3.5
Shares Acquired, Average Cost Per Share (in dollars per share)		$ 90.15
Out-of-the-money Warrants [Member]
Class of Warrant or Right, Outstanding (in shares)		783,009
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)		861,310
New Creditor Warrants [Member]
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares)		1
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)		$ 0.001		$ 0.001
GLF Equity Warrants [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)		$ 100
Series A Warrants [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)	$ 57.06
Series B Warrants [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)	$ 62.28
Series A and B Warrants [Member]
Class of Warrant or Right, Outstanding (in shares)	2,000,000
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)	1,900,000
Proceeds from Warrant Exercises	$ 111.5
Class of Warrant or Right, Expired (in shares)	3,100,000

Note 5 - Stockholders' Equity_4

Note 5 - Stockholders' Equity and Dilutive Equity Instruments - Changes in Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Balance at December 31, 2023 and 2022	$ 1,037,697	$ 865,990
Unrealized gain (loss) on note receivable	80	(132)
Balance at March 31, 2024 and 2023	1,055,153	873,413
AOCI Attributable to Parent [Member]
Balance at December 31, 2023 and 2022	5,266	8,576
Unrealized gain (loss) on note receivable	80	(132)
Balance at March 31, 2024 and 2023	5,209	8,254
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
Before reclassifications	$ (137)	$ (190)

Note 5 - Stockholders' Equity_5

Note 5 - Stockholders' Equity and Dilutive Equity Instruments - Dilutive Equity Instruments (Details) - shares	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023
Common stock, shares outstanding (in shares)	52,759,223	52,259,303	50,780,847
Total (in shares)	53,512,262		52,607,361
Restricted Stock Units and Stock Options [Member]
Common stock shares reserved (in shares)	582,908		1,637,393
New Creditor Warrants [Member]
Common stock shares reserved (in shares)	81,244		81,244
GulfMark Creditor Warrants [Member]
Common stock shares reserved (in shares)	88,887		107,877

Note 5 - Stockholders' Equity_6

Note 5 - Stockholders' Equity and Dilutive Equity Instruments - Dilutive Equity Instruments (Details) (Parentheticals) - $ / shares	Mar. 31, 2024	Mar. 31, 2023
New Creditor Warrants [Member]
Strike price per common share (in dollars per share)	$ 0.001	$ 0.001
GulfMark Creditor Warrants [Member]
Strike price per common share (in dollars per share)	$ 0.01	$ 0.01

Note 6 - Income Taxes (Details

Note 6 - Income Taxes (Details Textual) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Deferred Tax Assets, Net	$ 601	$ 589.5
Deferred Tax Assets, Valuation Allowance	603.3	$ 591.7
SPO [Member]
Deferred Tax Assets, Net	80.1
Deferred Tax Assets, Valuation Allowance	$ 80.1

Note 7 - Employee Benefit Pla_3

Note 7 - Employee Benefit Plans (Details Textual) - Supplemental Employee Retirement Plan [Member] - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Defined Benefit Plan, Plan Assets, Contributions by Employer	$ 0.4	$ 0.4
Defined Benefit Plan, Expected Future Employer Contributions, Remainder of Fiscal Year	1.2
Defined Benefit Plan, Benefit Obligation	$ 17.1		$ 17.3

Note 7 - Employee Benefit Pla_4

Note 7 - Employee Benefit Plans - Net Periodic Benefit Costs (Details) - Pension Plan And Supplemental Plan [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Interest cost	$ 630	$ 846
Expected return on plan assets	(445)	(688)
Amortization of net actuarial gains	(30)	(66)
Net periodic pension cost	$ 155	$ 92

Note 8 - Debt (Details Textual)

Note 8 - Debt (Details Textual) $ in Thousands, € in Millions	Jul. 05, 2023 USD ($)	Mar. 31, 2024 USD ($)	Mar. 31, 2024 EUR (€)	Dec. 31, 2023 USD ($)	Jul. 03, 2023 USD ($)	Nov. 16, 2021 USD ($)
Restricted Cash, Current		$ 6,474		$ 1,241
Long-Term Debt, Gross		738,836		751,651
Long-Term Debt, Current Maturities		103,009		103,077
Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity						$ 25,000
Long-Term Line of Credit		0
Nordic Bond [Member]
Long-Term Debt, Fair Value		$ 182,200		181,700
Debt Instrument, Interest Rate, Stated Percentage		8.50%	8.50%			8.50%
Restricted Cash, Current		$ 5,000
Debt Instrument, Covenant, Minimum Free Liquidity Amount						$ 20,000
Debt Instrument, Covenant, Minimum Free Liquidity, Percentage of Net Interest Bearing Debt						10%
Debt Instrument, Covenant, Percentage of Minimum Equity Ratio						30%
Nordic Bond [Member] \| GOLP and TMII [Member]
Debt Instrument, Collateral, Percentage of Equity Interests						66%
Supplier Facility Agreements [Member]
Debt Instrument, Face Amount		15,200	€ 13.9
Long-Term Debt, Gross		$ 13,836		14,151
Supplier Facility Agreements [Member] \| Maximum [Member]
Debt Instrument, Interest Rate, Stated Percentage		6.30%	6.30%
Supplier Facility Agreements [Member] \| Minimum [Member]
Debt Instrument, Interest Rate, Stated Percentage		2.70%	2.70%
Secured Debt [Member]
Long-Term Debt, Fair Value		$ 301,300		313,700
Debt Instrument, Face Amount	$ 325,000
Long-Term Debt, Gross	318,300	300,000		312,500
Debt Instrument, Covenant, Free Liquidity Test, Amount	$ 20,000
Debt Instrument, Covenant, Free Liquidity Test, Percentage	10%
Debt Instrument, Covenant, Minimum Equity Ratio	30%
Secured Debt [Member] \| Tranche A Term Loan [Member]
Debt Instrument, Face Amount	$ 100,000
Long-Term Debt, Current Maturities	50,000
Long-Term Line of Credit, Noncurrent	$ 50,000
Secured Debt [Member] \| Tranche A Term Loan [Member] \| Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]
Debt Instrument, Basis Spread on Variable Rate	5%
Secured Debt [Member] \| Tranche A Term Loan [Member] \| Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member] \| Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate	8%
Secured Debt [Member] \| Tranche B Term Loan [Member]
Debt Instrument, Face Amount	$ 225,000
Debt Instrument, Term (Year)	3 years
Secured Debt [Member] \| Tranche B Term Loan [Member] \| Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member]
Debt Instrument, Basis Spread on Variable Rate	3.75%
Unsecured Debt [Member]
Long-Term Debt, Fair Value		$ 267,600		260,200
Debt Instrument, Interest Rate, Stated Percentage	10.375%	10.375%	10.375%		10.375%
Debt Instrument, Face Amount					$ 250,000
Long-Term Debt, Gross		$ 250,000		$ 250,000	243,100
Debt Instrument, Covenant, Free Liquidity Test, Amount					$ 20,000
Debt Instrument, Covenant, Free Liquidity Test, Percentage					10%
Debt Instrument, Covenant, Minimum Equity Ratio					30%

Note 8 - Debt - Summary of Debt

Note 8 - Debt - Summary of Debt Outstanding (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023	Jul. 05, 2023	Jul. 03, 2023
Long-term debt, gross	$ 738,836	$ 751,651
Debt discount and issuance costs	(15,498)	(17,213)
Less: Current portion of long-term debt	(103,009)	(103,077)
Total long-term debt	620,329	631,361
Supplier Facility Agreements [Member]
Long-term debt, gross	13,836	14,151
Secured Debt [Member]
Long-term debt, gross	300,000	312,500	$ 318,300
Unsecured Debt [Member]
Long-term debt, gross	250,000	250,000		$ 243,100
Nordic Bond [Member]
Long-term debt, gross	$ 175,000	$ 175,000

Note 8 - Debt - Summary of De_2

Note 8 - Debt - Summary of Debt Outstanding (Details) (Parentheticals)	Mar. 31, 2024	Jul. 05, 2023	Jul. 03, 2023
Unsecured Debt [Member]
Interest rate	10.375%	10.375%	10.375%
Nordic Bond [Member]
Interest rate	8.50%

Note 10 - Fair Value Measurem_2

Note 10 - Fair Value Measurements (Details Textual) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Jun. 30, 2022
OCI, Debt Securities, Available-for-Sale, Transfer from Held-to-Maturity, Gain (Loss), before Adjustment and Tax	$ 0.1
Debt Security, Corporate, Non-US [Member]
Debt Instrument, Interest Rate, Stated Percentage		8.75%
PEMEX [Member]
Accounts Receivable, before Allowance for Credit Loss, Current	$ 8.4	$ 8.6

Note 11 - Properties and Equi_3

Note 11 - Properties and Equipment, Accrued Expenses, Other Current Liabilities, and Other Liabilities (Details Textual) € in Millions, $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2024 USD ($)	Mar. 31, 2024 EUR (€)	Dec. 31, 2023
Number of Vessels	214	214	217
Alucat Crew Boats [Member]
Number of Vessels	6	6
Down Payment To Start Construction On Crew Boats	$ 2.9	€ 2.7
Expected Cost of Boats	$ 11.6	€ 10.7

Note 11 - Properties and Equi_4

Note 11 - Properties and Equipment, Accrued Expenses, Other Current Liabilities and Other Liabilities - Summary of Property and Equipment (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Vessels and related equipment	$ 1,712,643	$ 1,716,339
Other properties and equipment	41,625	32,447
Property, Plant and Equipment, Gross	1,754,268	1,748,786
Less accumulated depreciation and amortization	467,650	433,664
Properties and equipment, net	$ 1,286,618	$ 1,315,122

Note 11 - Properties and Equi_5

Note 11 - Properties and Equipment, Accrued Expenses, Other Current Liabilities and Other Liabilities - Summary of Accrued Expenses (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Payroll and related payables	$ 38,936	$ 34,989
Accrued vessel expenses	46,381	48,076
Accrued interest expense	19,202	17,128
Other accrued expenses	27,671	25,397
Accrued Liabilities, Current	$ 132,190	$ 125,590

Note 11 - Properties and Equi_6

Note 11 - Properties and Equipment, Accrued Expenses, Other Current Liabilities and Other Liabilities - Summary of Other Current Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Taxes payable	$ 43,164	$ 44,461
Other	9,000	10,672
Other Liabilities, Current	$ 52,164	$ 55,133

Note 11 - Properties and Equi_7

Note 11 - Properties and Equipment, Accrued Expenses, Other Current Liabilities and Other Liabilities - Other liabilities and Deferred Credits (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Pension liabilities	$ 19,094	$ 19,003
Liability for uncertain tax positions	24,742	27,319
Other	19,361	18,663
Other Liabilities, Noncurrent	$ 63,197	$ 64,985

Note 12 - Segment and Geograp_3

Note 12 - Segment and Geographic Distribution of Operations (Details Textual)	3 Months Ended
	Mar. 31, 2024
Number of Operating Segments	5

Note 12 - Segment and Geograp_4

Note 12 - Segment and Geographic Distribution of Operations - Segment Reporting Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Revenue	$ 321,164	$ 193,104
Corporate expenses	239,266	168,605
Gain on asset dispositions, net	11,039	2,216
Operating income	81,898	24,499
Depreciation and amortization	56,270	30,666
Property Plant And Equipment Additions	10,942	8,651
Total assets	2,077,816		$ 2,062,774
Vessel [Member]
Revenue	318,686	191,180
Product and Service, Other [Member]
Revenue	2,478	1,924
Operating Segments [Member]
Gross Profit	83,597	33,216
Operating Segments [Member] \| Product and Service, Other [Member]
Revenue	2,478	1,924
Gross Profit	1,328	773
Operating Segments [Member] \| Americas [Member]
Depreciation and amortization	10,943	8,194
Property Plant And Equipment Additions	3,495	521
Total assets	388,140		418,151
Operating Segments [Member] \| Americas [Member] \| Vessel [Member]
Revenue	63,941	47,687
Gross Profit	10,126	7,962
Operating Segments [Member] \| Asia Pacific [Member]
Depreciation and amortization	4,032	1,465
Property Plant And Equipment Additions	194	4,403
Total assets	193,734		167,085
Operating Segments [Member] \| Asia Pacific [Member] \| Vessel [Member]
Revenue	47,781	22,024
Gross Profit	14,847	5,568
Operating Segments [Member] \| Middle East [Member]
Depreciation and amortization	7,273	5,735
Property Plant And Equipment Additions	834	1,550
Total assets	183,945		191,927
Operating Segments [Member] \| Middle East [Member] \| Vessel [Member]
Revenue	37,932	30,762
Gross Profit	1,529	(344)
Operating Segments [Member] \| Europe and Mediterranean [Member]
Depreciation and amortization	21,438	7,350
Property Plant And Equipment Additions	5,493	232
Total assets	669,886		671,626
Operating Segments [Member] \| Europe and Mediterranean [Member] \| Vessel [Member]
Revenue	80,381	31,250
Gross Profit	14,757	2,036
Operating Segments [Member] \| West Africa [Member]
Depreciation and amortization	11,838	7,521
Property Plant And Equipment Additions	211	589
Total assets	438,677		421,054
Operating Segments [Member] \| West Africa [Member] \| Vessel [Member]
Revenue	88,651	59,457
Gross Profit	41,010	17,221
Segment Reporting, Reconciling Item, Corporate Nonsegment [Member]
Corporate expenses	(12,738)	(10,933)
Depreciation and amortization	746	401
Property Plant And Equipment Additions	715	$ 1,356
Total assets	$ 203,434		$ 192,931

Note 13 - Asset Dispositions,_2

Note 13 - Asset Dispositions, Assets Held for Sale and Asset Impairments (Details Textual) $ in Millions	3 Months Ended
	Mar. 31, 2024 USD ($)	Mar. 31, 2023 USD ($)	Dec. 31, 2023
Number Of Vessels Sold Or Scrapped	3	5
Proceeds from Sale of Vessels	$ 12.5	$ 5.7
Gain (Loss) on Sale of Assets and Asset Impairment Charges	$ 11	$ 2.2
Number of Vessels, Held for Sale	0	3	0
Asset Held For Sale, Net Book Value		$ 0.7