SUPPLEMENTAL CONDENSED CONSOLIDATING FINANCIAL INFORMATION

6 Months Ended

Sep. 30, 2013

Supplemental Condensed Consolidating Financial Information [Abstract]

Additional Financial Information Disclosure [Text Block]

SUPPLEMENTAL CONDENSED CONSOLIDATING FINANCIAL INFORMATION

In connection with the issuance of the 7¹/2% Senior Notes due 2017 (which we redeemed during the fiscal year 2013), the 6¹/4% Senior Notes due 2022 and the 3% Convertible Senior Notes, 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 income, 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 Income

Three Months Ended September 30, 2013

	Parent Company Only			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
	(In thousands)
Revenue:
Gross revenue	$	—		$	78,518		$	338,810		$	—		$	417,328
Intercompany revenue	374			21,506			—			(21,880		)	—
	374			100,024			338,810			(21,880		)	417,328
Operating expense:
Direct cost and reimbursable expense	—			57,543			235,537			—			293,080
Intercompany expenses	—			—			21,880			(21,880		)	—
Depreciation and amortization	736			11,048			12,074			—			23,858
General and administrative	14,343			8,574			23,562			—			46,479
	15,079			77,165			293,053			(21,880		)	363,417
Loss on disposal of assets	—			(2,927		)	(137		)	—			(3,064		)
Earnings from unconsolidated affiliates, net of losses	138,158			—			3,088			(138,158		)	3,088
Operating income	123,453			19,932			48,708			(138,158		)	53,935
Interest income	31,502			—			762			(31,502		)	762
Interest expense	(9,598		)	(1,476		)	(29,506		)	31,502			(9,078		)
Gain on sale of unconsolidated affiliate	—			—			103,924			—			103,924
Other income (expense), net	(120		)	(174		)	1,781			—			1,487
Income before provision for income taxes	145,237			18,282			125,669			(138,158		)	151,030
Allocation of consolidated income taxes	(34,617		)	(1,843		)	(4,686		)	—			(41,146		)
Net income	110,620			16,439			120,983			(138,158		)	109,884
Net (income) loss attributable to noncontrolling interests	(14		)	—			736			—			722
Net income attributable to Bristow Group	$	110,606		$	16,439		$	121,719		$	(138,158	)	$	110,606

Supplemental Condensed Consolidating Statement of Income

Six Months Ended September 30, 2013

	Parent Company Only			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
	(In thousands)
Revenue:
Gross revenue	$	—		$	155,161		$	661,161		$	—		$	816,322
Intercompany revenue	748			41,872			—			(42,620		)	—
	748			197,033			661,161			(42,620		)	816,322
Operating expense:
Direct cost and reimbursable expense	—			114,987			470,092			—			585,079
Intercompany expenses	—			—			42,620			(42,620		)	—
Depreciation and amortization	1,453			21,731			23,493			—			46,677
General and administrative	26,133			16,159			44,495			—			86,787
	27,586			152,877			580,700			(42,620		)	718,543
Loss on disposal of assets	—			(1,539		)	(3,246		)	—			(4,785		)
Earnings from unconsolidated affiliates, net of losses	169,908			—			17,060			(169,908		)	17,060
Operating income	143,070			42,617			94,275			(169,908		)	110,054
Interest income	59,698			—			878			(59,695		)	881
Interest expense	(30,193		)	(1,507		)	(57,443		)	59,695			(29,448		)
Gain on sale of unconsolidated affiliate	—			—			103,924			—			103,924
Other income (expense), net	(118		)	(160		)	399			—			121
Income before provision for income taxes	172,457			40,950			142,033			(169,908		)	185,532
Allocation of consolidated income taxes	(34,934		)	(2,368		)	(11,434		)	—			(48,736		)
Net income	137,523			38,582			130,599			(169,908		)	136,796
Net (income) loss attributable to noncontrolling interests	(31		)	—			727			—			696
Net income attributable to Bristow Group	$	137,492		$	38,582		$	131,326		$	(169,908	)	$	137,492

Supplemental Condensed Consolidating Statement of Income

Three Months Ended September 30, 2012

	Parent Company Only			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
	(In thousands)
Revenue:
Gross revenue	$	—		$	76,217		$	289,537		$	—		$	365,754
Intercompany revenue	578			18,532			—			(19,110		)	—
	578			94,749			289,537			(19,110		)	365,754
Operating expense:
Direct cost and reimbursable expense	—			56,342			206,787			—			263,129
Intercompany expenses	—			—			19,110			(19,110		)	—
Depreciation and amortization	1,091			9,348			12,882			—			23,321
General and administrative	11,218			7,361			19,129			—			37,708
	12,309			73,051			257,908			(19,110		)	324,158
Gain (loss) on disposal of assets	—			421			(1,683		)	—			(1,262		)
Earnings from unconsolidated affiliates, net of losses	21,076			—			6,994			(21,076		)	6,994
Operating income	9,345			22,119			36,940			(21,076		)	47,328
Interest income	28,988			8			296			(29,029		)	263
Interest expense	(9,171		)	—			(28,455		)	29,029			(8,597		)
Other income (expense), net	(57		)	(36		)	(125		)	—			(218		)
Income before provision for income taxes	29,105			22,091			8,656			(21,076		)	38,776
Allocation of consolidated income taxes	579			(2,024		)	(6,897		)	—			(8,342		)
Net income	29,684			20,067			1,759			(21,076		)	30,434
Net income attributable to noncontrolling interests	(16		)	—			(750		)	—			(766		)
Net income attributable to Bristow Group	$	29,668		$	20,067		$	1,009		$	(21,076	)	$	29,668

Supplemental Condensed Consolidating Statement of Income

Six Months Ended September 30, 2012

	Parent Company Only			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
	(In thousands)
Revenue:
Gross revenue	$	—		$	145,729		$	582,633		$	—		$	728,362
Intercompany revenue	1,156			35,831			—			(36,987		)	—
	1,156			181,560			582,633			(36,987		)	728,362
Operating expense:
Direct cost and reimbursable expense	—			106,114			419,955			—			526,069
Intercompany expenses	—			—			36,987			(36,987		)	—
Depreciation and amortization	2,160			17,423			25,110			—			44,693
General and administrative	20,147			14,212			38,326			—			72,685
	22,307			137,749			520,378			(36,987		)	643,447
Loss on disposal of assets	—			(998		)	(5,579		)	—			(6,577		)
Earnings from unconsolidated affiliates, net of losses	38,815			—			8,983			(38,815		)	8,983
Operating income	17,664			42,813			65,659			(38,815		)	87,321
Interest income	56,928			17			296			(56,890		)	351
Interest expense	(18,021		)	—			(56,240		)	56,890			(17,371		)
Other income (expense), net	(6		)	21			(1,164		)	—			(1,149		)
Income before provision for income taxes	56,565			42,851			8,551			(38,815		)	69,152
Allocation of consolidated income taxes	(3,200		)	(3,782		)	(7,540		)	—			(14,522		)
Net income	53,365			39,069			1,011			(38,815		)	54,630
Net income attributable to noncontrolling interests	(35		)	—			(1,265		)	—			(1,300		)
Net income (loss) attributable to Bristow Group	$	53,330		$	39,069		$	(254	)	$	(38,815	)	$	53,330

Supplemental Condensed Consolidating Statement of Comprehensive Income

Three Months Ended September 30, 2013

	Parent Company Only			Guarantor Subsidiaries		Non- Guarantor Subsidiaries			Eliminations			Consolidated
	(In thousands)
Net income	$	110,620		$	16,439	$	120,983		$	(138,158	)	$	109,884
Other comprehensive income (loss):
Currency translation adjustments	3,105			—		(14,710		)	27,479			15,874
Total comprehensive income	113,725			16,439		106,273			(110,679		)	125,758
Net (income) loss attributable to noncontrolling interests	(14		)	—		736			—			722
Currency translation adjustments attributable to noncontrolling interests	—			—		(108		)	—			(108		)
Total comprehensive (income) loss attributable to noncontrolling interests	(14		)	—		628			—			614
Total comprehensive income attributable to Bristow Group	$	113,711		$	16,439	$	106,901		$	(110,679	)	$	126,372

Supplemental Condensed Consolidating Statement of Comprehensive Income

Six Months Ended September 30, 2013

	Parent Company Only			Guarantor Subsidiaries		Non- Guarantor Subsidiaries			Eliminations			Consolidated
	(In thousands)
Net income	$	137,523		$	38,582	$	130,599		$	(169,908	)	$	136,796
Other comprehensive income (loss):
Currency translation adjustments	4,025			—		(21,657		)	29,077			11,445
Total comprehensive income	141,548			38,582		108,942			(140,831		)	148,241
Net (income) loss attributable to noncontrolling interests	(31		)	—		727			—			696
Currency translation adjustments attributable to noncontrolling interests	—			—		(238		)	—			(238		)
Total comprehensive (income) loss attributable to noncontrolling interests	(31		)	—		489			—			458
Total comprehensive income attributable to Bristow Group	$	141,517		$	38,582	$	109,431		$	(140,831	)	$	148,699

Supplemental Condensed Consolidating Statement of Comprehensive Income

Three Months Ended September 30, 2012

	Parent Company Only			Guarantor Subsidiaries		Non- Guarantor Subsidiaries			Eliminations			Consolidated
	(In thousands)
Net income	$	29,684		$	20,067	$	1,759		$	(21,076	)	$	30,434
Other comprehensive income (loss):
Currency translation adjustments	1,907			—		(35,328		)	37,643			4,222
Total comprehensive income	31,591			20,067		(33,569		)	16,567			34,656
Net income attributable to noncontrolling interests	(16		)	—		(750		)	—			(766		)
Currency translation adjustments attributable to noncontrolling interests	—			—		99			—			99
Total comprehensive income attributable to noncontrolling interests	(16		)	—		(651		)	—			(667		)
Total comprehensive income attributable to Bristow Group	$	31,575		$	20,067	$	(34,220	)	$	16,567		$	33,989

Supplemental Condensed Consolidating Statement of Comprehensive Income

Six Months Ended September 30, 2012

	Parent Company Only			Guarantor Subsidiaries		Non- Guarantor Subsidiaries			Eliminations			Consolidated
	(In thousands)
Net income	$	53,365		$	39,069	$	1,011		$	(38,815	)	$	54,630
Other comprehensive income (loss):
Currency translation adjustments	4,580			—		(40,372		)	40,520			4,728
Total comprehensive income	57,945			39,069		(39,361		)	1,705			59,358
Net income attributable to noncontrolling interests	(35		)	—		(1,265		)	—			(1,300		)
Currency translation adjustments attributable to noncontrolling interests	—			—		(102		)	—			(102		)
Total comprehensive income attributable to noncontrolling interests	(35		)	—		(1,367		)	—			(1,402		)
Total comprehensive income attributable to Bristow Group	$	57,910		$	39,069	$	(40,728	)	$	1,705		$	57,956

Supplemental Condensed Consolidating Balance Sheet

As of September 30, 2013

	Parent Company Only			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
	(In thousands)
ASSETS
Current assets:
Cash and cash equivalents	$	3,982		$	4,368		$	305,171		$	—		$	313,521
Accounts receivable	9,631			85,951			221,222			(75,928		)	240,876
Inventories	—			51,925			106,697			—			158,622
Assets held for sale	—			19,867			6,852			—			26,719
Prepaid expenses and other current assets	2,899			6,331			21,721			(1		)	30,950
Total current assets	16,512			168,442			661,663			(75,929		)	770,688
Intercompany investment	1,278,799			111,435			—			(1,390,234		)	—
Investment in unconsolidated affiliates	—			150			272,195			—			272,345
Intercompany notes receivable	1,361,139			—			—			(1,361,139		)	—
Property and equipment—at cost:
Land and buildings	982			49,411			61,013			—			111,406
Aircraft and equipment	42,474			1,248,490			1,150,435			—			2,441,399
	43,456			1,297,901			1,211,448			—			2,552,805
Less: Accumulated depreciation and amortization	(12,038		)	(206,507		)	(299,597		)	—			(518,142		)
	31,418			1,091,394			911,851			—			2,034,663
Goodwill	—			4,755			25,049			—			29,804
Other assets	220,258			1,219			39,964			(202,949		)	58,492
Total assets	$	2,908,126		$	1,377,395		$	1,910,722		$	(3,030,251	)	$	3,165,992
LIABILITIES AND STOCKHOLDERS’ INVESTMENT
Current liabilities:
Accounts payable	$	4,066		$	50,257		$	86,996		$	(71,162	)	$	70,157
Accrued liabilities	51,636			24,977			96,608			(3,470		)	169,751
Current deferred taxes	(6,000		)	(542		)	8,936			—			2,394
Short-term borrowings and current maturities of long-term debt	6,919			—			70			—			6,989
Total current liabilities	56,621			74,692			192,610			(74,632		)	249,291
Long-term debt, less current maturities	824,094			—			—			—			824,094
Intercompany notes payable	—			510,861			1,054,227			(1,565,088		)	—
Accrued pension liabilities	—			—			127,296			—			127,296
Other liabilities and deferred credits	9,203			8,083			32,501			(258		)	49,529
Deferred taxes	134,639			8,743			11,921			—			155,303
Stockholders’ investment:
Common stock	372			4,996			22,876			(27,872		)	372
Additional paid-in-capital	752,614			9,291			270,905			(280,196		)	752,614
Retained earnings	1,214,157			760,729			193,928			(954,657		)	1,214,157
Accumulated other comprehensive income (loss)	(58,867		)	—			(2,061		)	(127,548		)	(188,476		)
Treasury shares	(26,304		)	—			—			—			(26,304		)
Total Bristow Group stockholders’ investment	1,881,972			775,016			485,648			(1,390,273		)	1,752,363
Noncontrolling interests	1,597			—			6,519			—			8,116
Total stockholders’ investment	1,883,569			775,016			492,167			(1,390,273		)	1,760,479
Total liabilities and stockholders’ investment	$	2,908,126		$	1,377,395		$	1,910,722		$	(3,030,251	)	$	3,165,992

Supplemental Condensed Consolidating Balance Sheet

As of March 31, 2013

	Parent Company Only			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
	(In thousands)
ASSETS
Current assets:
Cash and cash equivalents	$	31,853		$	5,370		$	178,400		$	—		$	215,623
Accounts receivable	18,498			80,615			246,612			(82,944		)	262,781
Inventories	—			51,970			101,999			—			153,969
Assets held for sale	—			1,268			7,022			—			8,290
Prepaid expenses and other current assets	16,071			12,415			23,263			(16,654		)	35,095
Total current assets	66,422			151,638			557,296			(99,598		)	675,758
Intercompany investment	1,163,935			111,435			—			(1,275,370		)	—
Investment in unconsolidated affiliates	—			150			271,973			—			272,123
Intercompany notes receivable	1,401,680			—			—			(1,401,680		)	—
Property and equipment—at cost:
Land and buildings	939			48,907			58,747			—			108,593
Aircraft and equipment	31,310			1,170,531			1,104,213			—			2,306,054
	32,249			1,219,438			1,162,960			—			2,414,647
Less: Accumulated depreciation and amortization	(10,680		)	(205,746		)	(277,149		)	—			(493,575		)
	21,569			1,013,692			885,811			—			1,921,072
Goodwill	—			4,756			24,141			—			28,897
Other assets	40,877			1,341			149,544			(138,920		)	52,842
Total assets	$	2,694,483		$	1,283,012		$	1,888,765		$	(2,915,568	)	$	2,950,692
LIABILITIES AND STOCKHOLDERS’ INVESTMENT
Current liabilities:
Accounts payable	$	4,049		$	44,017		$	101,021		$	(79,266	)	$	69,821
Accrued liabilities	29,534			22,404			115,112			(19,369		)	147,681
Current deferred taxes	(4,184		)	115			4,069			—			—
Short-term borrowings and current maturities of long-term debt	21,875			—			448			—			22,323
Total current liabilities	51,274			66,536			220,650			(98,635		)	239,825
Long-term debt, less current maturities	764,946			—			—			—			764,946
Intercompany notes payable	—			463,184			963,687			(1,426,871		)	—
Accrued pension liabilities	—			—			126,647			—			126,647
Other liabilities and deferred credits	10,761			8,530			178,525			(140,620		)	57,196
Deferred taxes	128,153			8,328			14,640			—			151,121
Stockholders’ investment:
Common stock	367			4,996			22,876			(27,872		)	367
Additional paid-in-capital	731,883			9,291			270,905			(280,196		)	731,883
Retained earnings	1,094,803			722,147			62,602			(784,749		)	1,094,803
Accumulated other comprehensive income (loss)	(62,892		)	—			19,834			(156,625		)	(199,683		)
Treasury shares	(26,304		)	—			—			—			(26,304		)
Total Bristow Group stockholders’ investment	1,737,857			736,434			376,217			(1,249,442		)	1,601,066
Noncontrolling interests	1,492			—			8,399			—			9,891
Total stockholders’ investment	1,739,349			736,434			384,616			(1,249,442		)	1,610,957
Total liabilities and stockholders’ investment	$	2,694,483		$	1,283,012		$	1,888,765		$	(2,915,568	)	$	2,950,692

Supplemental Condensed Consolidating Statement of Cash Flows

Six Months Ended September 30, 2013

	Parent Company Only			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
	(In thousands)
Net cash provided by (used in) operating activities	$	(20,277	)	$	46,258		$	106,495		$	—		$	132,476
Cash flows from investing activities:
Capital expenditures	(11,206		)	(275,801		)	(158,415		)	105,863			(339,559		)
Proceeds from asset dispositions	—			154,689			106,777			(105,863		)	155,603
Proceeds from sale of unconsolidated affiliate	—			—			112,210			—			112,210
Net cash provided by (used in) investing activities	(11,206		)	(121,112		)	60,572			—			(71,746		)
Cash flows from financing activities:
Proceeds from borrowings	157,500			—			2,646			—			160,146
Debt issuance costs	(15,152		)	—			—			—			(15,152		)
Repayment of debt	(114,806		)	—			(2,942		)	—			(117,748		)
Dividends paid	(15,072		)	34			(3,100		)	—			(18,138		)
Increases (decreases) in cash related to intercompany advances and debt	(24,615		)	73,818			(49,203		)	—			—
Partial prepayment of put/call obligation	(27		)	—			—			—			(27		)
Issuance of Common Stock	11,550			—			—			—			11,550
Tax benefit related to stock-based compensation	4,234			—			—			—			4,234
Net cash provided by (used in) financing activities	3,612			73,852			(52,599		)	—			24,865
Effect of exchange rate changes on cash and cash equivalents	—			—			12,303			—			12,303
Net increase (decrease) in cash and cash equivalents	(27,871		)	(1,002		)	126,771			—			97,898
Cash and cash equivalents at beginning of period	31,853			5,370			178,400			—			215,623
Cash and cash equivalents at end of period	$	3,982		$	4,368		$	305,171		$	—		$	313,521

Supplemental Condensed Consolidating Statement of Cash Flows

Six Months Ended September 30, 2012

	Parent Company Only			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
	(In thousands)
Net cash provided by (used in) operating activities	$	(20,075	)	$	62,030		$	92,943		$	—		$	134,898
Cash flows from investing activities:
Capital expenditures	(8,353		)	(46,389		)	(83,252		)	24,589			(113,405		)
Proceeds from asset dispositions	—			35,185			85,780			(24,589		)	96,376
Investment in unconsolidated affiliate	(7,153		)	—			—			—			(7,153		)
Net cash provided by (used in) investing activities	(15,506		)	(11,204		)	2,528			—			(24,182		)
Cash flows from financing activities:
Repayment of debt	(24,300		)	—			—			—			(24,300		)
Dividends paid	(2,742		)	(9,755		)	(1,800		)	—			(14,297		)
Increases (decreases) in cash related to intercompany advances and debt	112,427			(40,697		)	(71,730		)	—			—
Partial prepayment of put/call obligation	(33		)	—			—			—			(33		)
Issuance of Common Stock	7,869			—			—			—			7,869
Tax benefit related to stock-based compensation	433			—			—			—			433
Net cash provided by (used in) financing activities	93,654			(50,452		)	(73,530		)	—			(30,328		)
Effect of exchange rate changes on cash and cash equivalents	—			—			6,411			—			6,411
Net increase in cash and cash equivalents	58,073			374			28,352			—			86,799
Cash and cash equivalents at beginning of period	76,609			3,155			181,786			—			261,550
Cash and cash equivalents at end of period	$	134,682		$	3,529		$	210,138		$	—		$	348,349