TIDEWATER INC Earnings Per Share Disclosure
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(14) |
EARNINGS PER SHARE |
The components of basic and diluted earnings per share, are as follows:
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Successor |
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Predecessor |
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Period from |
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Period from |
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Twelve Months |
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August 1, 2017 |
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April 1, 2017 |
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Twelve Months |
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Ended |
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through |
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through |
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Ended |
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(In thousands, except share and per share data) |
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December 31, 2018 |
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December 31, 2017 |
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July 31, 2017 |
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March 31, 2017 |
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Net loss available to common shareholders |
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$ |
(171,517 |
) |
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(39,266 |
) |
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(1,646,909 |
) |
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(660,118 |
) |
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Weighted average outstanding shares of common stock, basic (A) |
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26,589,883 |
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21,539,143 |
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47,121,330 |
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47,071,066 |
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Dilutive effect of options, warrants and restricted stock awards and units |
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— |
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— |
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— |
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— |
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Weighted average common stock and equivalents |
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26,589,883 |
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21,539,143 |
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47,121,330 |
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47,071,066 |
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Loss per share, basic (B) |
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$ |
(6.45 |
) |
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(1.82 |
) |
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(34.95 |
) |
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(14.02 |
) |
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Loss per share, diluted (C) |
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$ |
(6.45 |
) |
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(1.82 |
) |
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(34.95 |
) |
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(14.02 |
) |
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Additional information: |
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Incremental "in-the-money" options, warrants, and restricted stock awards and units outstanding at the end of the period (D) |
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5,282,574 |
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7,869,553 |
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— |
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1,233 |
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(A) |
Basic weighted average shares outstanding included 2,547 and 924,125 shares issuable upon the exercise of New Creditor Warrants held by U.S. citizens at December 31, 2018 (Successor) and December 31, 2017 (Successor). |
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(B) |
We calculate “Loss per share, basic” by dividing “Net loss available to common shareholders” by “Weighted average outstanding share of common stock, basic”. |
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(C) |
We calculate “Loss per share, diluted” by dividing “Net loss available to common shareholders” by “Weighted average common stock and equivalents”. |
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(D) |
For the twelve months ended December 31, 2018 and period from August 1, 2017 through December 31, 2017, we also had 5,923,399 and 5,062,089 shares of “out-of- the-money” warrants outstanding at the end of the periods, respectively. |
Historical Timeline
| Fiscal Year | Filed | |
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| 2018 | Feb 28, 2019 | Showing above |
| 2017 | Jun 13, 2017 | |
| 2016 | May 26, 2016 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.