VARIABLE INTEREST ENTITIES (Tables)

9 Months Ended

Dec. 31, 2016

Variable Interest Entities [Abstract]

Schedule of variable interest entities financial statements

Bristow Aviation and its subsidiaries are exposed to similar operational risks and are therefore monitored and evaluated on a similar basis by management. Accordingly, the financial information reflected on our condensed consolidated balance sheets and statements of operations for Bristow Aviation and subsidiaries is presented in the aggregate, including intercompany amounts with other consolidated entities, as follows (in thousands):



	December 31, 2016		March 31, 2016
Assets
Cash and cash equivalents	$	70,406	$	62,773
Accounts receivable	549,783		565,223
Inventories	89,097		102,738
Prepaid expenses and other current assets	53,924		53,776
Total current assets	763,210		784,510
Investment in unconsolidated affiliates	3,575		4,676
Property and equipment, net	217,967		251,494
Goodwill	18,792		29,990
Other assets	73,857		82,443
Total assets	$	1,077,401	$	1,153,113
Liabilities
Accounts payable	$	363,665	$	521,563
Accrued liabilities	128,474		141,977
Accrued interest	1,840,368		1,698,360
Current maturities of long-term debt	14,063		10,322
Total current liabilities	2,346,570		2,372,222
Long-term debt, less current maturities	371,425		155,222
Accrued pension liabilities	49,291		70,107
Other liabilities and deferred credits	5,310		7,928
Deferred taxes	13,924		20,330
Redeemable noncontrolling interest	8,266		15,473
Total liabilities	$	2,794,786	$	2,641,282



	Three Months Ended December 31,						Nine Months Ended December 31,
	2016			2015			2016			2015
Revenue	$	291,808		$	355,036		$	920,587		$	1,119,169
Operating loss	(28,287		)	(4,906		)	(68,803		)	(32,479		)
Net loss	(44,999		)	(66,425		)	(214,336		)	(210,140		)

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

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