Variable interest entities (Tables)

9 Months Ended

12 Months Ended

Jan. 31, 2013

Apr. 30, 2012

Financial Information of Local Ownership VIEs

As such, the financial information reflected on the consolidated balance sheets and statements of operations for all local ownership VIEs has been presented in the aggregate below, including intercompany amounts with other consolidated entities:

	January 31, 2013		April 30, 2012
Cash and cash equivalents	$	6,322	$	30,372
Receivables, net of allowance		103,998		86,623
Other current assets		35,702		28,423
Goodwill		72,080		72,269
Other long-term assets		91,844		84,127
Total assets	$	309,946	$	301,814
Payables and accruals	$	265,119	$	231,191
Other current liabilities		26,250		40,455
Accrued pension obligations		46,892		55,365
Other long-term liabilities		54,429		58,183
Total liabilities	$	392,690	$	385,194

	Three months ended						Nine months ended
	January 31, 2013			January 31, 2012			January 31, 2013		January 31, 2012
Revenue	$	263,602		$	245,048		$	799,139	$	779,350
Net income (loss)		(5,323	)		(6,834	)		694		6,461

As such, the financial information reflected on the consolidated balance sheets and statements of operations for all local ownership VIEs has been presented in the aggregate below, including intercompany amounts with other consolidated entities:

	2012			2011
Cash	$	30,372		$	57,652
Accounts receivable		86,623			40,256
Other current assets		28,423			38,116
Goodwill		72,269			72,619
Other long-term assets		84,127			44,727
Total assets	$	301,814		$	253,370
Accounts payable	$	231,191		$	155,882
Other current liabilities		40,455			50,170
Pension liability		55,365			49,024
Other long-term liabilities		58,183			48,972
Total liabilities	$	385,194		$	304,048
Revenue	$	993,959		$	1,038,216
Net earnings (loss)		(3,589	)		5,650

Assets and Associated Liabilities Related to Company's Secured Debt Arrangements

The following table shows the assets and the associated liabilities related to our secured debt arrangements that are included in the consolidated financial statements:

	January 31, 2013		April 30, 2012
Restricted cash	$	5,254	$	14,882
Transferred receivables		47,230		66,177
Current facility secured by accounts receivable		41,259		45,566

The following table shows the assets and the associated liabilities related to the Company’s secured debt arrangements that are included in the consolidated financial statements:

	2012		2011
Restricted cash	$	14,882	$	3,399
Transferred receivables		66,177		25,274
Current facility secured by accounts receivable		45,566		21,571

Estimated Fair Values of Assets Acquired, Liabilities Assumed and Non-Controlling Interest

The following table summarizes the estimated fair values of Atlantic Aviation’s assets acquired, liabilities assumed and non-controlling interest at the acquisition date. The provisional measurements of fair value are subject to change, as we are in the process of finalizing the opening balances.

Cash and cash equivalents	$	1,824
Property and equipment		97
Other current assets		422
Intangible assets – Indefinite life AOC		638
Shareholder’s loan		897
Other current liabilities		(378	)
Non-controlling interest		(105	)
Purchase consideration	$	3,395

Amount of Revenue and Net Loss included in Consolidated Income Statement

The amount of revenue and net loss included in our consolidated income statement from the date of acquisition to January 31, 2013 are as follows:

Revenue	$	—
Net loss		(933	)

Operating Lease [Member]

Summary of Amounts Recorded in Balance Sheet

The following table summarizes the amounts recorded in respect of the operating leases with VIE lessors:

	April 30, 2012				April 30, 2011
	Carrying amounts		Maximum exposure to loss		Carrying amounts		Maximum exposure to loss
Funded residual value guarantees and receivables (included in Other assets)	$	—	$	—	$	2,386	$	2,386
Embedded equity		—		—		1,752		1,752
Accrued liabilities		—		n/a		330		n/a

Capital Lease [Member]

Summary of Amounts Recorded in Balance Sheet

The following table summarizes the amounts recorded in respect of the capital leases with VIE lessors:

	April 30, 2012				April 30, 2011
	Carrying amounts		Maximum exposure to loss		Carrying amounts		Maximum exposure to loss
Assets under capital lease	$	—	$	—	$	20,776	$	20,776
Capital lease obligation		—		n/a		15,515		n/a

TAS

Summary of Amounts Recorded in Balance Sheet

The following table summarizes the amounts recorded for TAS in the consolidated balance sheet:

	January 31, 2013				April 30, 2012
	Carrying amounts		Maximum exposure to loss		Carrying amounts		Maximum exposure to loss
Receivables, net of allowances	$	2,531	$	2,531	$	2,408	$	2,408
Equity method investment		17,134		17,134		15,548		15,548

The following table summarizes the amounts recorded for TAS in the consolidated balance sheet:

	April 30, 2012				April 30, 2011
	Carrying amounts		Maximum exposure to loss		Carrying amounts		Maximum exposure to loss
Accounts receivable	$	2,408	$	2,408	$	2,107	$	2,107
Equity method investment		15,548		15,548		14,250		14,250