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SUPPLEMENTAL CONDENSED CONSOLIDATING FINANCIAL INFORMATION
 3 Months Ended
Jun. 30, 2017
Supplemental Condensed Consolidating Financial Information [Abstract]  
Additional Financial Information Disclosure [Text Block]
SUPPLEMENTAL CONDENSED CONSOLIDATING FINANCIAL INFORMATION
In connection with the issuance of the 61/4% Senior Notes due 2022 (the “61/4% Senior Notes”), certain of our U.S. subsidiaries (the “Guarantor Subsidiaries”) fully, unconditionally, jointly and severally guaranteed the payment obligations under these notes. The following supplemental financial information sets forth, on a consolidating basis, the balance sheet, statement of operations, comprehensive income and cash flow information for Bristow Group Inc. (“Parent Company Only”), for the Guarantor Subsidiaries and for our other subsidiaries (the “Non-Guarantor Subsidiaries”). We have not presented separate financial statements and other disclosures concerning the Guarantor Subsidiaries because management has determined that such information is not material to investors.
The supplemental condensed consolidating financial information has been prepared pursuant to the rules and regulations for condensed financial information and does not include all disclosures included in annual financial statements, although we believe that the disclosures made are adequate to make the information presented not misleading. The principal eliminating entries eliminate investments in subsidiaries, intercompany balances and intercompany revenue and expense.
The allocation of the consolidated income tax provision was made using the with and without allocation method.
Supplemental Condensed Consolidating Statement of Operations
Three Months Ended June 30, 2017
 
 
Parent
Company
Only
 
Guarantor
Subsidiaries
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
 
 
 
 
 
 
 
 
 
 
 
 
 
(In thousands)
Revenue:
 
 
 
 
 
 
 
 
 
 
Gross revenue
 
$
—

 
$
45,775

 
$
306,334

 
$
—

 
$
352,109

Intercompany revenue
 
—

 
32,191

 
—

 
(32,191
)
 
—

 
 
—

 
77,966

 
306,334

 
(32,191
)
 
352,109

Operating expense:
 
 
 
 
 
 
 
 
 
 
Direct cost and reimbursable expense
 
6

 
52,334

 
245,437

 
—

 
297,777

Intercompany expenses
 
—

 
—

 
32,191

 
(32,191
)
 
—

Depreciation and amortization
 
2,917

 
12,483

 
15,656

 
—

 
31,056

General and administrative
 
19,107

 
5,762

 
21,838

 
—

 
46,707

 
 
22,030

 
70,579

 
315,122

 
(32,191
)
 
375,540

 
 
 
 
 
 
 
 
 
 
 
Loss on impairment
 
—

 
(1,192
)
 
—

 
—

 
(1,192
)
Gain on disposal of assets
 
—

 
416

 
283

 
—

 
699

Earnings from unconsolidated affiliates, net of losses
 
(20,645
)
 
—

 
(665
)
 
20,645

 
(665
)
Operating income (loss)
 
(42,675
)
 
6,611

 
(9,170
)
 
20,645

 
(24,589
)
Interest expense, net
 
(9,058
)
 
(5,780
)
 
(1,183
)
 
—

 
(16,021
)
Other income (expense), net
 
(29
)
 
(357
)
 
(1,259
)
 
—

 
(1,645
)
 
 
 
 
 
 
 
 
 
 
 
Income (loss) before (provision) benefit for income taxes
 
(51,762
)
 
474

 
(11,612
)
 
20,645

 
(42,255
)
Allocation of consolidated income taxes
 
(3,502
)
 
(4,160
)
 
(5,829
)
 
—

 
(13,491
)
Net loss
 
(55,264
)
 
(3,686
)
 
(17,441
)
 
20,645

 
(55,746
)
Net (income) loss attributable to noncontrolling interests
 
(11
)
 
—

 
482

 
—

 
471

Net loss attributable to Bristow Group
 
$
(55,275
)
 
$
(3,686
)
 
$
(16,959
)
 
$
20,645

 
$
(55,275
)
Supplemental Condensed Consolidating Statement of Operations
Three Months Ended June 30, 2016
 
 
Parent
Company
Only
 
Guarantor
Subsidiaries
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
 
 
 
 
 
 
 
 
 
 
 
 
 
(In thousands)
Revenue:
 
 
 
 
 
 
 
 
 
 
Gross revenue
 
$
—

 
$
45,313

 
$
324,085

 
$
—

 
$
369,398

Intercompany revenue
 
—

 
24,291

 
—

 
(24,291
)
 
—

 
 
—

 
69,604

 
324,085

 
(24,291
)
 
369,398

Operating expense:
 
 
 
 
 
 
 
 
 
 
Direct cost and reimbursable expense
 
(257
)
 
48,618

 
253,796

 
—

 
302,157

Intercompany expenses
 
—

 
—

 
24,291

 
(24,291
)
 
—

Depreciation and amortization
 
2,093

 
16,981

 
15,620

 
—

 
34,694

General and administrative
 
20,259

 
6,590

 
25,746

 
—

 
52,595

 
 
22,095

 
72,189

 
319,453

 
(24,291
)
 
389,446

 
 
 
 
 
 
 
 
 
 
 
Gain (loss) on disposal of assets
 
—

 
(10,227
)
 
210

 
—

 
(10,017
)
Earnings from unconsolidated affiliates, net of losses
 
(12,776
)
 
—

 
3,830

 
12,776

 
3,830

Operating income (loss)
 
(34,871
)
 
(12,812
)
 
8,672

 
12,776

 
(26,235
)
Interest expense, net
 
(9,885
)
 
(657
)
 
(344
)
 
—

 
(10,886
)
Other income (expense), net
 
546

 
1,235

 
(7,970
)
 
—

 
(6,189
)
 
 
 
 
 
 
 
 
 
 
 
Income (loss) before (provision) benefit for income taxes
 
(44,210
)
 
(12,234
)
 
358

 
12,776

 
(43,310
)
Allocation of consolidated income taxes
 
3,453

 
(2,222
)
 
1,007

 
—

 
2,238

Net income (loss)
 
(40,757
)
 
(14,456
)
 
1,365

 
12,776

 
(41,072
)
Net (income) loss attributable to noncontrolling interests
 
(15
)
 
—

 
315

 
—

 
300

Net income (loss) attributable to Bristow Group
 
$
(40,772
)
 
$
(14,456
)
 
$
1,680

 
$
12,776

 
$
(40,772
)
Supplemental Condensed Consolidating Statement of Comprehensive Income (Loss)
Three Months Ended June 30, 2017
 
 
Parent
Company
Only
 
Guarantor
Subsidiaries
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
 
 
 
 
 
 
 
 
 
 
 
 
 
(In thousands)
Net loss
 
$
(55,264
)
 
$
(3,686
)
 
$
(17,441
)
 
$
20,645

 
$
(55,746
)
Other comprehensive loss:
 
 
 
 
 
 
 
 
 
 
Currency translation adjustments
 
—

 
338

 
14,352

 
(4,930
)
 
9,760

Total comprehensive loss
 
(55,264
)
 
(3,348
)
 
(3,089
)
 
15,715

 
(45,986
)
 
 
 
 
 
 
 
 
 
 
 
Net (income) loss attributable to noncontrolling interests
 
(11
)
 
—

 
482

 
—

 
471

Currency translation adjustments attributable to noncontrolling interests
 
—

 
—

 
310

 
—

 
310

Total comprehensive (income) loss attributable to noncontrolling interests
 
(11
)
 
—

 
792

 
—

 
781

Total comprehensive loss attributable to Bristow Group
 
$
(55,275
)
 
$
(3,348
)
 
$
(2,297
)
 
$
15,715

 
$
(45,205
)
Supplemental Condensed Consolidating Statement of Comprehensive Income
Three Months Ended June 30, 2016
 
 
Parent
Company
Only
 
Guarantor
Subsidiaries
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
 
 
 
 
 
 
 
 
 
 
 
 
 
(In thousands)
Net income (loss)
 
$
(40,757
)
 
$
(14,456
)
 
$
1,365

 
$
12,776

 
$
(41,072
)
Other comprehensive income (loss):
 
 
 
 
 
 
 
 
 
 
Currency translation adjustments
 
—

 
—

 
217,792

 
(224,927
)
 
(7,135
)
Total comprehensive income (loss)
 
(40,757
)
 
(14,456
)
 
219,157

 
(212,151
)
 
(48,207
)
 
 
 
 
 
 
 
 
 
 
 
Net (income) loss attributable to noncontrolling interests
 
(15
)
 
—

 
315

 
—

 
300

Currency translation adjustments attributable to noncontrolling interests
 
—

 
—

 
(4,442
)
 
—

 
(4,442
)
Total comprehensive income attributable to noncontrolling interests
 
(15
)
 
—

 
(4,127
)
 
—

 
(4,142
)
Total comprehensive income (loss) attributable to Bristow Group
 
$
(40,772
)
 
$
(14,456
)
 
$
215,030

 
$
(212,151
)
 
$
(52,349
)
Supplemental Condensed Consolidating Balance Sheet
As of June 30, 2017
 
 
Parent
Company
Only
 
Guarantor
Subsidiaries
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
 
 
 
 
 
 
 
 
 
 
 
 
 
(In thousands)
 
 
ASSETS
Current assets:
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
 
$
5,386

 
$
1,187

 
$
72,306

 
$
—

 
$
78,879

Accounts receivable
 
133,432

 
336,915

 
291,635

 
(530,267
)
 
231,715

Inventories
 
—

 
33,833

 
96,646

 
—

 
130,479

Assets held for sale
 
—

 
28,601

 
5,984

 
—

 
34,585

Prepaid expenses and other current assets
 
2,097

 
6,076

 
41,901

 
(6,929
)
 
43,145

Total current assets
 
140,915

 
406,612

 
508,472

 
(537,196
)
 
518,803

Intercompany investment
 
2,486,473

 
104,435

 
131,194

 
(2,722,102
)
 
—

Investment in unconsolidated affiliates
 
—

 
—

 
205,174

 
—

 
205,174

Intercompany notes receivable
 
271,499

 
36,358

 
26,265

 
(334,122
)
 
—

Property and equipment—at cost:
 
 
 
 
 
 
 
 
 
 
Land and buildings
 
4,806

 
62,114

 
168,350

 
—

 
235,270

Aircraft and equipment
 
155,041

 
1,212,349

 
1,238,588

 
—

 
2,605,978

 
 
159,847

 
1,274,463

 
1,406,938

 
—

 
2,841,248

Less: Accumulated depreciation and amortization
 
(32,013
)
 
(270,749
)
 
(327,461
)
 
—

 
(630,223
)
 
 
127,834

 
1,003,714

 
1,079,477

 
—

 
2,211,025

Goodwill
 
—

 
—

 
19,907

 
—

 
19,907

Other assets
 
10,533

 
2,242

 
103,146

 
—

 
115,921

Total assets
 
$
3,037,254

 
$
1,553,361

 
$
2,073,635

 
$
(3,593,420
)
 
$
3,070,830

 
 
 
 
 
 
 
 
 
 
 
LIABILITIES, REDEEMABLE NONCONTROLLING INTEREST AND STOCKHOLDERS’ INVESTMENT
Current liabilities:
 
 
 
 
 
 
 
 
 
 
Accounts payable
 
$
292,663

 
$
136,609

 
$
178,101

 
$
(510,875
)
 
$
96,498

Accrued liabilities
 
53,816

 
11,141

 
139,230

 
(24,690
)
 
179,497

Current deferred taxes
 
457

 
1,585

 
(2,042
)
 
—

 
—

Short-term borrowings and current maturities of long-term debt
 
81,312

 
17,685

 
18,820

 
—

 
117,817

Total current liabilities
 
428,248

 
167,020

 
334,109

 
(535,565
)
 
393,812

Long-term debt, less current maturities
 
788,229

 
283,286

 
103,234

 
—

 
1,174,749

Intercompany notes payable
 
62,532

 
216,292

 
56,400

 
(335,224
)
 
—

Accrued pension liabilities
 
—

 
—

 
60,057

 
—

 
60,057

Other liabilities and deferred credits
 
7,771

 
6,679

 
11,184

 
—

 
25,634

Deferred taxes
 
107,289

 
42,512

 
9,638

 
—

 
159,439

Redeemable noncontrolling interest
 
—

 
—

 
6,349

 
—

 
6,349

Stockholders’ investment:
 
 
 
 
 
 
 
 
 
 
Common stock
 
380

 
20,028

 
131,317

 
(151,345
)
 
380

Additional paid-in-capital
 
813,857

 
29,387

 
284,048

 
(313,435
)
 
813,857

Retained earnings
 
934,166

 
787,431

 
803,028

 
(1,590,459
)
 
934,166

Accumulated other comprehensive loss
 
78,306

 
726

 
270,153

 
(667,392
)
 
(318,207
)
Treasury shares
 
(184,796
)
 
—

 
—

 
—

 
(184,796
)
Total Bristow Group stockholders’ investment
 
1,641,913

 
837,572

 
1,488,546

 
(2,722,631
)
 
1,245,400

Noncontrolling interests
 
1,272

 
—

 
4,118

 
—

 
5,390

Total stockholders’ investment
 
1,643,185

 
837,572

 
1,492,664

 
(2,722,631
)
 
1,250,790

Total liabilities, redeemable noncontrolling interest and stockholders’ investment
 
$
3,037,254

 
$
1,553,361

 
$
2,073,635

 
$
(3,593,420
)
 
$
3,070,830

Supplemental Condensed Consolidating Balance Sheet
As of March 31, 2017
 
 
Parent
Company
Only
 
Guarantor
Subsidiaries
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
 
 
 
 
 
 
 
 
 
 
 
 
 
(In thousands)
ASSETS
Current assets:
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
 
$
3,382

 
$
299

 
$
92,975

 
$
—

 
$
96,656

Accounts receivable
 
76,383

 
288,235

 
212,900

 
(370,603
)
 
206,915

Inventories
 
—

 
34,721

 
90,190

 
—

 
124,911

Assets held for sale
 
—

 
30,716

 
7,530

 
—

 
38,246

Prepaid expenses and other current assets
 
3,237

 
4,501

 
43,856

 
(10,451
)
 
41,143

Total current assets
 
83,002

 
358,472

 
447,451

 
(381,054
)
 
507,871

Intercompany investment
 
2,491,631

 
104,435

 
126,296

 
(2,722,362
)
 
—

Investment in unconsolidated affiliates
 
—

 
—

 
210,162

 
—

 
210,162

Intercompany notes receivable
 
306,641

 
37,633

 
39,706

 
(383,980
)
 
—

Property and equipment—at cost:
 
 
 
 
 
 
 
 
 
 
Land and buildings
 
4,806

 
62,114

 
164,528

 
—

 
231,448

Aircraft and equipment
 
151,005

 
1,199,073

 
1,272,623

 
—

 
2,622,701

 
 
155,811

 
1,261,187

 
1,437,151

 
—

 
2,854,149

Less: Accumulated depreciation and amortization
 
(29,099
)
 
(258,225
)
 
(312,461
)
 
—

 
(599,785
)
 
 
126,712

 
1,002,962

 
1,124,690

 
—

 
2,254,364

Goodwill
 
—

 
—

 
19,798

 
—

 
19,798

Other assets
 
18,770

 
2,139

 
100,743

 
—

 
121,652

Total assets
 
$
3,026,756

 
$
1,505,641

 
$
2,068,846

 
$
(3,487,396
)
 
$
3,113,847

 
 
 
 
 
 
 
 
 
 
 
LIABILITIES, REDEEMABLE NONCONTROLLING INTEREST AND STOCKHOLDERS’ INVESTMENT
Current liabilities:
 
 
 
 
 
 
 
 
 
 
Accounts payable
 
$
231,841

 
$
70,434

 
$
151,382

 
$
(355,442
)
 
$
98,215

Accrued liabilities
 
61,791

 
17,379

 
132,704

 
(25,628
)
 
186,246

Current deferred taxes
 
(1,272
)
 
2,102

 
—

 
—

 
830

Short-term borrowings and current maturities of long-term debt
 
79,053

 
17,432

 
34,578

 
—

 
131,063

Total current liabilities
 
371,413

 
107,347

 
318,664

 
(381,070
)
 
416,354

Long-term debt, less current maturities
 
763,325

 
284,710

 
102,921

 
—

 
1,150,956

Intercompany notes payable
 
70,689

 
226,091

 
87,200

 
(383,980
)
 
—

Accrued pension liabilities
 
—

 
—

 
61,647

 
—

 
61,647

Other liabilities and deferred credits
 
11,597

 
6,229

 
11,073

 
—

 
28,899

Deferred taxes
 
112,716

 
40,344

 
1,813

 
—

 
154,873

Redeemable noncontrolling interest
 
—

 
—

 
6,886

 
—

 
6,886

Stockholders’ investment:
 
 
 
 
 
 
 
 
 
 
Common stock
 
379

 
20,028

 
115,317

 
(135,345
)
 
379

Additional paid-in-capital
 
809,995

 
29,387

 
284,048

 
(313,435
)
 
809,995

Retained earnings
 
991,906

 
791,117

 
819,987

 
(1,611,104
)
 
991,906

Accumulated other comprehensive loss
 
78,306

 
388

 
255,491

 
(662,462
)
 
(328,277
)
Treasury shares
 
(184,796
)
 
—

 
—

 
—

 
(184,796
)
Total Bristow Group stockholders’ investment
 
1,695,790

 
840,920

 
1,474,843

 
(2,722,346
)
 
1,289,207

Noncontrolling interests
 
1,226

 
—

 
3,799

 
—

 
5,025

Total stockholders’ investment
 
1,697,016

 
840,920

 
1,478,642

 
(2,722,346
)
 
1,294,232

Total liabilities, redeemable noncontrolling interest and stockholders’ investment
 
$
3,026,756

 
$
1,505,641

 
$
2,068,846

 
$
(3,487,396
)
 
$
3,113,847

Supplemental Condensed Consolidating Statement of Cash Flows
Three Months Ended June 30, 2017
 
 
 
Parent
Company
Only
 
Guarantor
Subsidiaries
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
 
 
 
 
 
 
 
 
 
 
 
 
 
(In thousands)
Net cash used in operating activities
 
$
(37,229
)
 
$
(7,228
)
 
$
(6,722
)
 
$
—

 
$
(51,179
)
Cash flows from investing activities:
 
 
 
 
 
 
 
 
 
 
Capital expenditures
 
(4,036
)
 
(3,070
)
 
(5,447
)
 
—

 
(12,553
)
Proceeds from asset dispositions
 
—

 
2,473

 
39,502

 
—

 
41,975

Net cash provided by (used in) investing activities
 
(4,036
)
 
(597
)
 
34,055

 
—

 
29,422

Cash flows from financing activities:
 
 
 
 
 
 
 
 
 
 
Proceeds from borrowings
 
68,800

 
—

 
218

 
—

 
69,018

Debt issuance costs
 
—

 
(466
)
 
(27
)
 
—

 
(493
)
Repayment of debt
 
(42,150
)
 
(5,013
)
 
(19,784
)
 
—

 
(66,947
)
Dividends paid
 
(2,465
)
 
—

 
—

 
—

 
(2,465
)
Increases (decreases) in cash related to intercompany advances and debt
 
19,370

 
14,192

 
(33,562
)
 
—

 
—

Partial prepayment of put/call obligation
 
(12
)
 
—

 
—

 
—

 
(12
)
Repurchases for tax withholdings on vesting of equity awards
 
(274
)
 
—

 
—

 
—

 
(274
)
Net cash provided by (used in) financing activities
 
43,269

 
8,713

 
(53,155
)
 
—

 
(1,173
)
Effect of exchange rate changes on cash and cash equivalents
 
—

 
—

 
5,153

 
—

 
5,153

Net increase (decrease) in cash and cash equivalents
 
2,004

 
888

 
(20,669
)
 
—

 
(17,777
)
Cash and cash equivalents at beginning of period
 
3,382

 
299

 
92,975

 
—

 
96,656

Cash and cash equivalents at end of period
 
$
5,386

 
$
1,187

 
$
72,306

 
$
—

 
$
78,879

Supplemental Condensed Consolidating Statement of Cash Flows
Three Months Ended June 30, 2016
 
 
 
Parent
Company
Only
 
Guarantor
Subsidiaries
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
 
 
 
 
 
 
 
 
 
 
 
 
 
(In thousands)
Net cash provided by (used in) operating activities
 
$
(47,632
)
 
$
17,142

 
$
15,678

 
$
(16
)
 
$
(14,828
)
Cash flows from investing activities:
 
 
 
 
 
 
 
 
 
 
Capital expenditures
 
(7,238
)
 
(6,380
)
 
(7,445
)
 
—

 
(21,063
)
Proceeds from asset dispositions
 
—

 
9,486

 
2,014

 
—

 
11,500

Net cash provided by (used in) investing activities
 
(7,238
)
 
3,106

 
(5,431
)
 
—

 
(9,563
)
Cash flows from financing activities:
 
 
 
 
 
 
 
 
 
 
Proceeds from borrowings
 
71,950

 
—

 
2,458

 
—

 
74,408

Debt issuance costs
 
(2,925
)
 
—

 
—

 
—

 
(2,925
)
Repayment of debt
 
(16,000
)
 
—

 
(2,035
)
 
—

 
(18,035
)
Dividends paid
 
(2,453
)
 
—

 
—

 
—

 
(2,453
)
Increases (decreases) in cash related to intercompany advances and debt
 
(30,342
)
 
(23,641
)
 
53,983

 
—

 
—

Partial prepayment of put/call obligation
 
(13
)
 
—

 
—

 
—

 
(13
)
Payment of contingent consideration
 
—

 
—

 
(10,000
)
 
—

 
(10,000
)
Repurchases for tax withholdings on vesting of equity awards
 
(570
)
 
—

 
—

 
—

 
(570
)
Net cash provided by (used in) financing activities
 
19,647

 
(23,641
)
 
44,406

 
—

 
40,412

Effect of exchange rate changes on cash and cash equivalents
 
—

 
—

 
2,380

 
—

 
2,380

Net increase (decrease) in cash and cash equivalents
 
(35,223
)
 
(3,393
)
 
57,033

 
(16
)
 
18,401

Cash and cash equivalents at beginning of period
 
35,241

 
3,393

 
65,676

 
—

 
104,310

Cash and cash equivalents at end of period
 
$
18

 
$
—

 
$
122,709

 
$
(16
)
 
$
122,711