Nature of Operations and Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2025

Nature Of Operation And Accounting Policies [Abstract]

Revenue that does not meet these criteria is deferred until the criteria is met and is considered a contract liability and is recognized as such. Contract liabilities, which are included in unearned revenue in the accompanying consolidated balance sheets, for the years ended December 31 were as follows (in thousands):


	2025			2024			2023
Balance at beginning of year	$	2,534		$	687		$	2,333
Unearned revenues during the year		6,935			6,689			6,501
Revenues recognized during the year		(8,373	)		(4,842	)		(8,147	)
Balance at end of year	$	1,096		$	2,534		$	687

Schedule Of Cash Cash Equivalents And Restricted Cash From Continuing Operations

For the years ended December 31, cash, cash equivalents and restricted cash consists of (in thousands):


	2025		2024
Cash	$	68,934	$	59,491
Restricted cash		24,182		16,649
Total	$	93,116	$	76,140

Schedule of Allowance for Credit Loss Reserves

Allowance for credit loss reserves for the years ended December 31 were as follows (in thousands):


Description	Balance Beginning of Year		Reserves Acquired		Charges (Recoveries) to Cost and Expenses			Deductions			Recoveries Collected		Balance End of Year
Year Ended December 31, 2025
Allowance for credit loss reserves (deducted from trade and notes receivable)	$	4,745	$	—	$	(613	)	$	—		$	3	$	4,135
Year Ended December 31, 2024
Allowance for credit loss reserves (deducted from trade and notes receivable)	$	4,543	$	—	$	202		$	—		$	—	$	4,745
Year Ended December 31, 2023
Allowance for credit loss reserves (deducted from trade and notes receivable)	$	1,650	$	—	$	3,519		$	(626	)	$	—	$	4,543

Summary of Property and Equipment from Continuing Operations

The Company’s property and equipment as of December 31 was as follows (in thousands):


	Historical Cost (1)		Accumulated Depreciation			Net Book Value
2025
Offshore support vessels:
AHTS(2)	$	948	$	(841	)	$	107
FSV(3)		340,358		(177,608	)		162,750
PSV (4)		274,726		(75,606	)		199,120
Liftboats		141,841		(76,114	)		65,727
General machinery and spares		7,712		(7,712	)		—
Other (5)		11,248		(10,931	)		317
	$	776,833	$	(348,812	)	$	428,021
2024
Offshore support vessels:
AHTS(2)	$	948	$	(825	)	$	123
FSV(3)		344,833		(160,823	)		184,010
PSV (4)		290,416		(66,478	)		223,938
Liftboats		243,295		(118,923	)		124,372
General machinery and spares		9,394		(9,248	)		146
Other (5)		11,528		(11,151	)		377
	$	900,414	$	(367,448	)	$	532,966

(1)

Includes property and equipment acquired in business acquisitions at acquisition date fair value and net of the impact of recognized impairment charges. Most of the Company’s vessels are pledged as collateral under the 2024 SMFH Credit Facility.

(2)

Anchor handling towing supply vessels (“AHTS”).

(3)

Fast support vessels (“FSVs”).

(4)

Platform support vessels (“PSVs”).

(5)

Includes buildings, leasehold improvements, vehicles and other property and equipment.

Schedule of Accumulated Other Comprehensive (Loss) Income

Accumulated Other Comprehensive (Loss) Income. The components of accumulated other comprehensive (loss) income were as follows (in thousands):


	SEACOR Marine Holdings Inc. Stockholders’ Equity									Noncontrolling Interests
	Foreign Currency Translation Adjustments			Derivative (Losses) Gains on Cash Flow Hedges, net			Total			Foreign Currency Translation Adjustments			Derivative Losses on Cash Flow Hedges, net			Other Comprehensive Income (Loss)
Year Ended December 31, 2022	$	6,332		$	515		$	6,847		$	(1,445	)	$	(11	)	$	(1,208	)
Other comprehensive income		1,245			(515	)		730			—			—			730
Income tax (expense)		—			—			—			—			—			—
Year Ended December 31, 2023		7,577			—			7,577			(1,445	)		(11	)	$	730
Other comprehensive loss		(436	)		—			(436	)		—			—		$	(436	)
Income tax benefit (expense)		—			—			—			—			—			—
Year Ended December 31, 2024		7,141			—			7,141			(1,445	)		(11	)	$	(436	)
Other comprehensive income		3,203			—			3,203			—			—			3,203
Income tax benefit (expense)		—			—			—			—			—			—
Year Ended December 31, 2025	$	10,344		$	—		$	10,344		$	(1,445	)	$	(11	)	$	3,203

SEACOR Marine Holdings Inc. 10-K