SUPPLEMENTAL CONDENSED CONSOLIDATING FINANCIAL INFORMATION SUPPLEMENTAL CONDENSED CONSOLIDATING FINANCIAL INFORMATION (Tables)

3 Months Ended

Jun. 30, 2015

Supplemental Condensed Consolidating Financial Information [Abstract]

Condensed Income Statement [Table Text Block]

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, 2015

	Parent Company Only			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
	(In thousands)
Revenue:
Gross revenue	$	—		$	64,856		$	402,140		$	—		$	466,996
Intercompany revenue	—			24,811			—			(24,811		)	—
	—			89,667			402,140			(24,811		)	466,996
Operating expense:
Direct cost and reimbursable expense	144			56,734			305,407			—			362,285
Intercompany expenses	—			—			24,811			(24,811		)	—
Depreciation and amortization	1,609			14,585			20,952			—			37,146
General and administrative	20,551			6,831			33,950			—			61,332
	22,304			78,150			385,120			(24,811		)	460,763
Gain (loss) on disposal of assets	—			(7,737		)	42			—			(7,695		)
Earnings from unconsolidated affiliates, net of losses	(15,434		)	—			6,296			15,434			6,296
Operating income (loss)	(37,738		)	3,780			23,358			15,434			4,834
Interest expense, net	27,484			(1,265		)	(33,888		)	—			(7,669		)
Other income (expense), net	(316		)	(246		)	4,401			—			3,839
Income (loss) before provision for income taxes	(10,570		)	2,269			(6,129		)	15,434			1,004
Allocation of consolidated income taxes	7,327			(1,137		)	(8,823		)	—			(2,633		)
Net income (loss)	(3,243		)	1,132			(14,952		)	15,434			(1,629		)
Net income (loss) attributable to noncontrolling interests	(14		)	—			(1,614		)	—			(1,628		)
Net income (loss) attributable to Bristow Group	(3,257		)	1,132			(16,566		)	15,434			(3,257		)
Accretion of redeemable noncontrolling interests	—			—			(6,301		)	—			(6,301		)
Net income (loss) attributable to common stockholders	$	(3,257	)	$	1,132		$	(22,867	)	$	15,434		$	(9,558	)

Supplemental Condensed Consolidating Statement of Operations

Three Months Ended June 30, 2014

	Parent Company Only			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
	(In thousands)
Revenue:
Gross revenue	$	—		$	75,637		$	396,901		$	—		$	472,538
Intercompany revenue	553			24,826			—			(25,379		)	—
	553			100,463			396,901			(25,379		)	472,538
Operating expense:
Direct cost and reimbursable expense	—			53,065			273,406			—			326,471
Intercompany expenses	—			—			25,379			(25,379		)	—
Depreciation and amortization	(142		)	10,215			15,261			—			25,334
General and administrative	18,337			10,099			31,996			—			60,432
	18,195			73,379			346,042			(25,379		)	412,237
Gain (loss) on disposal of assets	—			1,338			(728		)	—			610
Earnings from unconsolidated affiliates, net of losses	36,992			—			4,281			(36,992		)	4,281
Operating income	19,350			28,422			54,412			(36,992		)	65,192
Interest expense, net	27,518			(1,006		)	(33,639		)	—			(7,127		)
Other income (expense), net	(928		)	(72		)	(239		)	—			(1,239		)
Income before provision for income taxes	45,940			27,344			20,534			(36,992		)	56,826
Allocation of consolidated income taxes	(1,813		)	233			(10,243		)	—			(11,823		)
Net income	44,127			27,577			10,291			(36,992		)	45,003
Net income attributable to noncontrolling interests	(18		)	—			(876		)	—			(894		)
Net income attributable to Bristow Group	$	44,109		$	27,577		$	9,415		$	(36,992	)	$	44,109

Condensed Statement of Comprehensive Income [Table Text Block]

Supplemental Condensed Consolidating Statement of Comprehensive Income

Three Months Ended June 30, 2015

	Parent Company Only			Guarantor Subsidiaries		Non- Guarantor Subsidiaries			Eliminations		Consolidated
	(In thousands)
Net income	$	(3,243	)	$	1,132	$	(14,952	)	$	15,434	$	(1,629	)
Other comprehensive income (loss):
Currency translation adjustments	36,371			—		(86,867		)	63,104		12,608
Total comprehensive income (loss)	33,128			1,132		(101,819		)	78,538		10,979
Net income attributable to noncontrolling interests	(14		)	—		(1,614		)	—		(1,628		)
Currency translation adjustments attributable to noncontrolling interests	—			—		2,106			—		2,106
Total comprehensive income attributable to noncontrolling interests	(14		)	—		492			—		478
Total comprehensive income (loss) attributable to Bristow Group	33,114			1,132		(101,327		)	78,538		11,457
Accretion of redeemable noncontrolling interests	—			—		(6,301		)	—		(6,301		)
Total comprehensive (income) loss attributable to common stockholders	$	33,114		$	1,132	$	(107,628	)	$	78,538	$	5,156

Supplemental Condensed Consolidating Statement of Comprehensive Income

Three Months Ended June 30, 2014

	Parent Company Only			Guarantor Subsidiaries		Non- Guarantor Subsidiaries			Eliminations			Consolidated
	(In thousands)
Net income	$	44,127		$	27,577	$	10,291		$	(36,992	)	$	45,003
Other comprehensive income:
Currency translation adjustments	(7,036		)	—		(20,399		)	35,672			8,237
Total comprehensive income	37,091			27,577		(10,108		)	(1,320		)	53,240
Net income attributable to noncontrolling interests	(18		)	—		(876		)	—			(894		)
Currency translation adjustments attributable to noncontrolling interests	—			—		971			—			971
Total comprehensive income attributable to noncontrolling interests	(18		)	—		95			—			77
Total comprehensive income attributable to Bristow Group	$	37,073		$	27,577	$	(10,013	)	$	(1,320	)	$	53,317

Condensed Balance Sheet [Table Text Block]

Supplemental Condensed Consolidating Balance Sheet

As of June 30, 2015

	Parent Company Only			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
	(In thousands)
ASSETS
Current assets:
Cash and cash equivalents	$	8,467		$	—		$	112,059		$	(132	)	$	120,394
Accounts receivable	420,427			444,319			472,889			(1,079,358		)	258,277
Inventories	—			40,119			111,828			—			151,947
Assets held for sale	—			36,362			2,274			—			38,636
Prepaid expenses and other current assets	4,043			6,140			50,457			—			60,640
Total current assets	432,937			526,940			749,507			(1,079,490		)	629,894
Intercompany investment	1,366,976			111,379			158,843			(1,637,198		)	—
Investment in unconsolidated affiliates	—			—			223,233			—			223,233
Intercompany notes receivable	1,227,432			13,786			—			(1,241,218		)	—
Property and equipment—at cost:
Land and buildings	2,830			55,080			141,172			—			199,082
Aircraft and equipment	119,381			1,038,526			1,296,043			—			2,453,950
	122,211			1,093,606			1,437,215			—			2,653,032
Less: Accumulated depreciation and amortization	(18,037		)	(216,145		)	(272,678		)	—			(506,860		)
	104,174			877,461			1,164,537			—			2,146,172
Goodwill	—			4,756			73,242			—			77,998
Other assets	167,011			1,001			106,390			(109,008		)	165,394
Total assets	$	3,298,530		$	1,535,323		$	2,475,752		$	(4,066,914	)	$	3,242,691
LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND STOCKHOLDERS’ INVESTMENT
Current liabilities:
Accounts payable	$	302,985		$	460,061		$	329,636		$	(994,429	)	$	98,253
Accrued liabilities	16,116			39,276			1,248,960			(1,060,861		)	243,491
Current deferred taxes	2,572			1,917			(356		)	—			4,133
Short-term borrowings and current maturities of long-term debt	17,501			—			9,453			—			26,954
Deferred sale leaseback advance	—			—			—			—			—
Total current liabilities	339,174			501,254			1,587,693			(2,055,290		)	372,831
Long-term debt, less current maturities	886,988			—			31,259			—			918,247
Intercompany notes payable	100,000			122,897			152,849			(375,746		)	—
Accrued pension liabilities	—			—			101,911			—			101,911
Other liabilities and deferred credits	10,132			7,670			221,175			(207,753		)	31,224
Deferred taxes	143,708			6,140			19,532			—			169,380
Redeemable noncontrolling interests	—			—			35,342			—			35,342
Stockholders’ investment:
Common stock	376			4,996			22,876			(27,872		)	376
Additional paid-in-capital	782,620			9,291			284,048			(293,339		)	782,620
Retained earnings	1,263,013			883,075			110,692			(993,767		)	1,263,013
Accumulated other comprehensive loss	(44,233		)	—			(98,235		)	(113,147		)	(255,615		)
Treasury shares	(184,796		)	—			—			—			(184,796		)
Total Bristow Group stockholders’ investment	1,816,980			897,362			319,381			(1,428,125		)	1,605,598
Noncontrolling interests	1,548			—			6,610			—			8,158
Total stockholders’ investment	1,818,528			897,362			325,991			(1,428,125		)	1,613,756
Total liabilities, redeemable noncontrolling interests and stockholders’ investment	$	3,298,530		$	1,535,323		$	2,475,752		$	(4,066,914	)	$	3,242,691

Supplemental Condensed Consolidating Balance Sheet

As of March 31, 2015

	Parent Company Only			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
	(In thousands)
ASSETS
Current assets:
Cash and cash equivalents	$	126		$	884		$	103,136		$	—		$	104,146
Accounts receivable	377,158			342,239			447,776			(908,555		)	258,618
Inventories	—			44,285			102,884			—			147,169
Assets held for sale	—			54,695			3,132			—			57,827
Prepaid expenses and other current assets	4,850			7,035			58,206			—			70,091
Total current assets	382,134			449,138			715,134			(908,555		)	637,851
Intercompany investment	1,410,347			111,380			—			(1,521,727		)	—
Investment in unconsolidated affiliates	—			—			216,376			—			216,376
Intercompany notes receivable	1,184,335			—			—			(1,184,335		)	—
Property and equipment—at cost:
Land and buildings	2,830			50,946			118,183			—			171,959
Aircraft and equipment	108,457			1,114,218			1,271,194			—			2,493,869
	111,287			1,165,164			1,389,377			—			2,665,828
Less: Accumulated depreciation and amortization	(16,431		)	(223,245		)	(269,051		)	—			(508,727		)
	94,856			941,919			1,120,326			—			2,157,101
Goodwill	—			4,756			70,872			—			75,628
Other assets	43,423			988			99,353			—			143,764
Total assets	$	3,115,095		$	1,508,181		$	2,222,061		$	(3,614,617	)	$	3,230,720
LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND STOCKHOLDERS’ INVESTMENT
Current liabilities:
Accounts payable	$	203,700		$	369,854		$	289,838		$	(779,199	)	$	84,193
Accrued liabilities	31,805			37,860			206,789			(18,009		)	258,445
Current deferred taxes	(3,661		)	2,503			18,862			—			17,704
Short-term borrowings and current maturities of long-term debt	9,088			—			9,642			—			18,730
Deferred sale leaseback	—			55,934			—			—			55,934
Total current liabilities	240,932			466,151			525,131			(797,208		)	435,006
Long-term debt, less current maturities	812,536			—			33,156			—			845,692
Intercompany notes payable	100,000			131,075			1,065,918			(1,296,993		)	—
Accrued pension liabilities	—			—			99,576			—			99,576
Other liabilities and deferred credits	17,144			8,379			21,711			(7,452		)	39,782
Deferred taxes	141,771			6,346			17,538			—			165,655
Redeemable noncontrolling interests	—			—			26,223			—			26,223
Stockholders’ investment:
Common stock	376			4,996			22,876			(27,872		)	376
Additional paid-in-capital	781,837			9,291			284,048			(293,339		)	781,837
Retained earnings	1,284,442			881,943			133,559			(1,015,502		)	1,284,442
Accumulated other comprehensive loss	(80,604		)	—			(13,474		)	(176,251		)	(270,329		)
Treasury shares	(184,796		)	—			—			—			(184,796		)
Total Bristow Group stockholders’ investment	1,801,255			896,230			427,009			(1,512,964		)	1,611,530
Noncontrolling interests	1,457			—			5,799			—			7,256
Total stockholders’ investment	1,802,712			896,230			432,808			(1,512,964		)	1,618,786
Total liabilities, redeemable noncontrolling interests and stockholders’ investment	$	3,115,095		$	1,508,181		$	2,222,061		$	(3,614,617	)	$	3,230,720

Condensed Cash Flow Statement [Table Text Block]

Supplemental Condensed Consolidating Statement of Cash Flows

Three Months Ended June 30, 2015

	Parent Company Only			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
	(In thousands)
Net cash provided by (used in) operating activities	$	(61,581	)	$	54,056		$	23,594		$	(132	)	$	15,937
Cash flows from investing activities:
Capital expenditures	(8,034		)	(24,091		)	(35,652		)	—			(67,777		)
Proceeds from asset dispositions	—			8,932			369			—			9,301
Net cash used in investing activities	(8,034		)	(15,159		)	(35,283		)	—			(58,476		)
Cash flows from financing activities:
Proceeds from borrowings	364,774			—			—			—			364,774
Debt issuance costs	—			—			—			—			—
Repayment of debt	(282,831		)	—			(2,758		)	—			(285,589		)
Dividends paid	(11,871		)	—			—			—			(11,871		)
Increases (decreases) in cash related to intercompany advances and debt	7,561			(39,781		)	32,220			—			—
Partial prepayment of put/call obligation	(14		)	—			—			—			(14		)
Acquisition of noncontrolling interest	—			—			(2,000		)	—			(2,000		)
Payment of contingent consideration	—			—			(8,000		)	—			(8,000		)
Repurchase of Common Stock	—			—			—			—			—
Issuance of Common Stock	—			—			—			—			—
Tax benefit related to stock-based compensation	337			—			—			—			337
Net cash provided by (used in) financing activities	77,956			(39,781		)	19,462			—			57,637
Effect of exchange rate changes on cash and cash equivalents	—			—			1,150			—			1,150
Net increase (decrease) in cash and cash equivalents	8,341			(884		)	8,923			(132		)	16,248
Cash and cash equivalents at beginning of period	126			884			103,136			—			104,146
Cash and cash equivalents at end of period	$	8,467		$	—		$	112,059		$	(132	)	$	120,394

Supplemental Condensed Consolidating Statement of Cash Flows

Three Months Ended June 30, 2014

	Parent Company Only			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
	(In thousands)
Net cash provided by (used in) operating activities	$	(22,755	)	$	54,360		$	7,158		$	(1,418	)	$	37,345
Cash flows from investing activities:
Capital expenditures	(11,219		)	(98,694		)	(90,534		)	—			(200,447		)
Proceeds from asset dispositions	—			6,423			220			—			6,643
Net cash used in investing activities	(11,219		)	(92,271		)	(90,314		)	—			(193,804		)
Cash flows from financing activities:
Proceeds from borrowings	147,500			—			544			—			148,044
Repayment of debt	(31,891		)	—			(3,957		)	—			(35,848		)
Dividends paid	(11,353		)	—			—			—			(11,353		)
Increases (decreases) in cash related to intercompany advances and debt	(49,231		)	37,911			11,320			—			—
Partial prepayment of put/call obligation	(15		)	—			—			—			(15		)
Repurchase of Common Stock	(20,157		)	—			—			—			(20,157		)
Issuance of Common Stock	975			—			—			—			975
Tax benefit related to stock-based compensation	166			—			—			—			166
Net cash provided by financing activities	35,994			37,911			7,907			—			81,812
Effect of exchange rate changes on cash and cash equivalents	—			—			4,110			—			4,110
Net increase (decrease) in cash and cash equivalents	2,020			—			(71,139		)	(1,418		)	(70,537		)
Cash and cash equivalents at beginning of period	4,640			—			200,147			(446		)	204,341
Cash and cash equivalents at end of period	$	6,660		$	—		$	129,008		$	(1,864	)	$	133,804