SEGMENT INFORMATION

3 Months Ended

Jun. 30, 2013

Segments [Abstract]

SEGMENT INFORMATION

SEGMENT INFORMATION

We conduct our business in one segment: Helicopter Services. The Helicopter Services segment operations are conducted primarily through five business units: Europe, West Africa, North America, Australia, and Other International. Additionally, we operate a training business unit, Bristow Academy, and provide technical services to clients in the U.S. and U.K.

The following shows reportable segment information for the three months ended June 30, 2013 and 2012 and as of June 30 and March 31, 2013, where applicable, reconciled to consolidated totals, and prepared on the same basis as our condensed consolidated financial statements (in thousands):

	Three Months Ended   June 30,
	2013			2012
Business unit gross revenue from external clients:
Europe	$	166,709		$	153,957
West Africa	79,381			70,454
North America	58,582			52,710
Australia	43,998			44,502
Other International	32,975			33,475
Corporate and other	17,349			7,510
Total business unit gross revenue	$	398,994		$	362,608
Intra-business unit gross revenue:
Europe	$	—		$	63
West Africa	—			—
North America	(16		)	196
Australia	—			—
Other International	—			—
Corporate and other	863			120
Total intra-business unit gross revenue	$	847		$	379
Consolidated gross revenue reconciliation:
Europe	$	166,709		$	154,020
West Africa	79,381			70,454
North America	58,566			52,906
Australia	43,998			44,502
Other International	32,975			33,475
Corporate and other	18,212			7,630
Intra-business unit eliminations	(847		)	(379		)
Total consolidated gross revenue	$	398,994		$	362,608

	Three Months Ended   June 30,
	2013			2012
Earnings from unconsolidated affiliates, net of losses – equity method investments:
Europe	$	3,040		$	2,006
North America	(8		)	—
Other International	8,940			(17		)
Total earnings from unconsolidated affiliates, net of losses – equity method investments	$	11,972		$	1,989
Consolidated operating income (loss) reconciliation:
Europe	$	20,021		$	21,876
West Africa	19,253			16,131
North America	8,123			6,475
Australia	3,280			6,509
Other International	18,442			7,387
Corporate and other	(11,279		)	(13,070		)
Loss on disposal of assets	(1,721		)	(5,315		)
Total consolidated operating income	$	56,119		$	39,993
Depreciation and amortization:
Europe	$	7,248		$	7,564
West Africa	3,260			3,142
North America	6,139			3,266
Australia	1,889			2,483
Other International	3,630			4,033
Corporate and other	653			884
Total depreciation and amortization	$	22,819		$	21,372

	June 30,   2013		March 31,    2013
Identifiable assets:
Europe	$	865,295	$	808,568
West Africa	373,840		390,402
North America	540,480		527,710
Australia	223,168		245,757
Other International	580,349		589,361
Corporate and other	475,355		388,894
Total identifiable assets (1)	$	3,058,487	$	2,950,692

Investments in unconsolidated affiliates – equity method investments:
Europe (2)	$	7,942	$	8,569
North America	60,509		60,517
Other International	202,260		196,751
Total investments in unconsolidated affiliates – equity method investments	$	270,711	$	265,837

______ 

⁽¹⁾  Includes $311.4 million and $222.8 million, respectively, ofconstruction in progress within property and equipment on our condensed consolidated balance sheets as of June 30 and March 31, 2013, respectively, which primarily represents progress payments on aircraft to be delivered in future periods.

⁽²⁾  On July 14, 2013, we sold our 50% interest in the FB Entities for £74 million, or approximately $112.0 million. See Note 2 for further discussion.