

	Fiscal Quarter Ended
	June 30⁽¹⁾⁽²⁾			September 30⁽³⁾⁽⁴⁾			December 31⁽⁵⁾⁽⁶⁾			March 31⁽⁷⁾⁽⁸⁾

	(In thousands, except per share amounts)
Fiscal year 2017
Gross revenue	$	369,398		$	357,467		$	337,443		$	336,194
Operating loss ⁽⁹⁾	(26,235		)	(26,882		)	(19,097		)	(19,528		)
Net loss attributable to Bristow Group ⁽⁹⁾	(40,772		)	(29,797		)	(21,927		)	(78,040		)
Loss per share:
Basic	$	(1.17	)	$	(0.85	)	$	(0.62	)	$	(2.22	)
Diluted	$	(1.17	)	$	(0.85	)	$	(0.62	)	$	(2.22	)
Fiscal year 2016
Gross revenue	$	466,996		$	446,911		$	419,887		$	381,719
Operating income (loss) ⁽⁹⁾	4,834			(29,833		)	22,077			(37,923		)
Net income (loss) attributable to Bristow Group ⁽⁹⁾	(3,257		)	(47,132		)	3,202			(25,255		)
Earnings (loss) per share:
Basic	$	(0.27	)	$	(1.21	)	$	0.09		$	(0.72	)
Diluted	$	(0.27	)	$	(1.21	)	$	0.09		$	(0.72	)

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⁽¹⁾

Operating loss, net loss and diluted loss per share for the fiscal quarter ended June 30, 2016 included: (a) a negative impact of $6.6 million, $4.3 million, and $0.12, respectively, from organizational restructuring costs to increase efficiency and reduced costs across the organization and (b) a negative impact of $6.9 million, $4.5 million and $0.13, respectively, due to fleet changes that resulted in additional depreciation expense. Net loss and diluted loss per share for the fiscal quarter ended June 30, 2016 included a negative impact of $13.2 million and $0.38, respectively, due to tax valuation allowances.

⁽²⁾

Operating income, net loss and diluted loss per share for the fiscal quarter ended June 30, 2015 included: (a) a negative impact of $8.0 million, $5.6 million and $0.16, respectively, from severance expense related to separation programs designed to increase efficiency and reduce costs across the organization, (b) a negative impact of $10.5 million, $7.9 million and $0.23 due to fleet changes that resulted in additional depreciation expense and (c) a negative impact of $5.4 million, $3.5 million and $0.10, respectively, due to impairment charges on inventory. Diluted loss per share for the fiscal quarter ended June 30, 2015 was impacted by a negative impact of $0.18 due to the accretion of redeemable noncontrolling interests.

⁽³⁾

Operating loss, net loss and diluted loss per share for the fiscal quarter ended September 30, 2016 included: (a) a negative impact of $10.7 million, $7.3 million, and $0.21, respectively, from organizational restructuring costs to increase efficiency and reduced costs across the organization, (b) a negative impact of $1.3 million, $0.9 million and $0.02, respectively, due to fleet changes that resulted in additional depreciation expense and (c) a negative impact of $7.6 million, $5.3 million and $0.15, respectively, due to impairment charges on inventory. Net loss and diluted loss per share for the fiscal quarter ended September 30, 2016 included a negative impact of $2.5 million and $0.07, respectively, due to tax valuation allowances.

⁽⁴⁾

Operating loss, net loss and diluted loss per share for the fiscal quarter ended September 30, 2015 included: (a) a negative impact of $5.7 million, $4.2 million and $0.12, respectively, from severance expense related to separation programs designed to increase efficiency and reduce costs across the organization, (b) a negative impact of $10.5 million, $7.9 million and $0.22 due to fleet changes that resulted in additional depreciation expense and (c) a negative impact of $22.3 million, $25.6 million and $0.73, respectively, due to impairment of goodwill related to our Bristow Norway and Bristow Academy reporting units. Diluted loss per share for the fiscal quarter ended September 30, 2015 was positively impacted by $0.14 due to the accretion of redeemable noncontrolling interests.

⁽⁵⁾

Operating loss, net loss and diluted loss per share for the fiscal quarter ended December 31, 2016 included: (a) a negative impact of $0.8 million, $0.6 million, and $0.02, respectively, from organizational restructuring costs to increase efficiency and reduced costs across the organization, (b) a negative impact of $1.1 million, $0.8 million and $0.02, respectively, due to fleet changes that resulted in additional depreciation expense and (c) a negative impact of $8.7 million, $7.9 million and $0.22, respectively, due to impairment of goodwill related to Eastern Airways. Net loss and diluted loss per share for the fiscal quarter ended December 31, 2016 included a negative impact of $3.7 million and $0.10, respectively, due to tax valuation allowances.

⁽⁶⁾

Operating income, net income and diluted earnings per share for the fiscal quarter ended December 31, 2015 included: (a) a decrease of $7.3 million, $5.4 million and $0.15, respectively, from severance expense related to separation programs designed to increase efficiency and reduce costs across the organization and (b) a decrease of $5.0 million, $3.8 million and $0.11 due to fleet changes that resulted in additional depreciation expense. Net income and diluted earnings per share for the fiscal quarter ended December 31, 2015 included a decrease of $9.5 million and $0.27, respectively, due to tax valuation allowance.

⁽⁷⁾

Operating loss, net loss and diluted loss per share for the fiscal quarter ended March 31, 2017 included: (a) a negative impact of $2.8 million, $2.1 million, and $0.06, respectively, from organizational restructuring costs to increase efficiency and reduced costs across the organization, (b) a negative impact of $1.1 million, $0.7 million and $0.02, respectively, due to fleet changes that resulted in additional depreciation expense and (c) a positive impact of $5.9 million, $5.9 million and $0.17, respectively, from the reversal of Airnorth contingent consideration. Net loss and diluted loss per share for the fiscal quarter ended March 31, 2017 included a negative impact of $40.0 million and $1.14, respectively, due to tax items that include a one-time non-cash tax effect from repositioning of certain aircraft from one tax jurisdiction to another related to recent financing transactions and the valuation of deferred tax assets.

⁽⁸⁾

Operating loss, net loss and diluted loss per share for the fiscal quarter ended March 31, 2016 included: (a) a negative impact of $5.9 million, $2.3 million and $0.07, respectively, from organizational restructuring costs to increase efficiency and reduced costs across the organization and (b) a negative impact of $3.6 million, $3.2 million and $0.09 due to fleet changes that resulted in additional depreciation expense and (c) a negative impact of $27.4 million, $15.7 million and $0.44, respectively, due to impairment of goodwill related to our Africa region and impairment of goodwill and intangibles for Eastern Airways. Net loss and diluted loss per share for the fiscal quarter ended March 31, 2016 included a negative impact of $5.1 million and $0.14, respectively, due to tax valuation allowances.

⁽⁹⁾

The fiscal quarters ended June 30, September 30 and December 31, 2016, and March 31, 2017 included $10.0 million, $2.2 million, $0.9 million and $1.4 million, respectively, in loss on disposal of assets included in operating loss which also increased (decreased) net loss by $(6.8) million, $(1.5) million, $1.1 million and $(0.8) million, respectively, and diluted loss per share by $(0.19), $(0.04), $0.03 and $(0.02), respectively. The fiscal quarters ended June 30, September 30 and December 31, 2015, and March 31, 2016 included $7.7 million, $14.0 million, $2.2 million and $6.8 million, respectively in loss on disposal of assets included in operating income (loss) which also decreased net income (loss) by $5.9 million, $10.8 million, $1.7 million and $3.7 million, respectively, and diluted earnings (loss) per share by $0.17, $0.31, $0.05 and $0.10, respectively.