F-7 See accompanying Notes to Consolidated Financial Statements. TIDEWATER INC.  CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY AND OTHER COMPREHENSIVE INCOME  Grantor Deferred Accumulated Trust Stock Additional compensation- other Ownership Common paid-in Retained restricted comprehensive Program stock capital earnings stock loss (GSOP)  Total Balance at March 31, 2007  $  5,748  205,425  1,740,568  (19,172)  (20,607)  (25,952)  1,886,010  Adoption of FIN 48  ---  ---  (23,637)  ---  ---  ---  (23,637)  Net earnings --- --- 348,763 --- --- --- 348,763 Other Comprehensive Income:  Unrealized gain/(losses) on available-for-sale securities --- --- --- --- (144) --- (144) Changes in Supplemental Executive Retirement Plan minimum liability --- --- --- --- 597 --- 597 Changes in Pension Plan  minimum liability --- --- --- --- 943 --- 943 Changes in Other Benefit Plan  minimum liability --- --- --- --- 443 --- 443 Changes in fair value of  derivative instruments --- --- --- --- 494 --- 494 Total Comprehensive income 351,096 Issuance of restricted stock 10  5,860  ---  (5,870)  ---  ---  ---  Stock option activity  9  28,665  ---  ---  ---  25,780  54,454  Cash dividends declared  ---  ---  (32,687)  ---  ---  ---  (32,687)  Issuance of common shares  ---  338  ---  172  510  Retirement of common stock  (528)  (169,519)  (140,000)  ---  ---  ---  (310,047)  Amortization/cancellation of  restricted stock (7) (3,708) --- 8,100 --- --- 4,385 Balance at March 31, 2008  $  5,232  67,061  1,893,007  (16,942)  (18,274)  ---  1,930,084  Net earnings --- --- 406,898 --- --- --- 406,898 Other Comprehensive Income:  Unrealized gain/(losses) on available-for-sale securities --- --- --- --- (3,758) --- (3,758) Changes in Supplemental Executive Retirement Plan minimum liability --- --- --- --- 686 --- 686 Changes in Pension Plan  minimum liability --- --- --- --- (1,342) --- (1,342) Changes in Other Benefit Plan  minimum liability --- --- --- --- 2,975 --- 2,975 Total Comprehensive income 405,459 Issuance of restricted stock 17  6,287  ---  (6,304)  ---  ---  ---  Stock option activity  17  9,110  ---  ---  ---  9,127  Cash dividends declared  ---  ---  (51,521)  ---  ---  ---  (51,521)  Retirement of common stock  (92)  ---  (53,542)  ---  ---  ---  (53,634)  Amortization/cancellation of  restricted stock (5) (3,125) --- 8,293 --- --- 5,163 Balance at March 31, 2009  $  5,169  79,333  2,194,842  (14,953)  (19,713)  ---  2,244,678  Net earnings --- --- 259,476 --- --- --- 259,476 Other Comprehensive Income:  Currency translation adjustment --- --- --- --- 767 --- 767 Unrealized gain/(losses) on available-for-sale securities --- --- --- --- 2,622 --- 2,622 Changes in Supplemental Executive Retirement Plan minimum liability --- --- --- --- 414 --- 414 Changes in Pension Plan  minimum liability --- --- --- --- (1,244) --- (1,244) Changes in Other Benefit Plan  minimum liability --- --- --- --- 223 --- 223 Total Comprehensive income 262,258 Issuance of restricted stock 11  5,185  ---  (5,196)  ---  ---  ---  Stock option activity 7 5,554 --- --- --- --- 5,561 Cash dividends declared  ---  ---  (51,743)  ---  ---  ---  (51,743)  Amortization/cancellation of  restricted stock (4) (1,899) --- 5,179 --- --- 3,276 Balance at March 31, 2010  $  5,183  88,173  2,402,575  (14,970)  (16,931)  ---  2,464,030  Years Ended March 31, 2010, 2009 and 2008 (In thousands)