SUPPLEMENTAL CONDENSED CONSOLIDATING FINANCIAL INFORMATION (Tables)

9 Months Ended

Dec. 31, 2017

Supplemental Condensed Consolidating Financial Information [Abstract]

Supplemental Condensed Consolidating Statement of Operations

Three Months Ended December 31, 2017



	Parent Company Only			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated

	(In thousands)
Revenue:
Gross revenue	$	188		$	47,377		$	313,170		$	—		$	360,735
Intercompany revenue	—			28,608			—			(28,608		)	—
	188			75,985			313,170			(28,608		)	360,735
Operating expense:
Direct cost and reimbursable expense	81			49,540			236,968			—			286,589
Intercompany expenses	—			—			28,608			(28,608		)	—
Depreciation and amortization	3,048			12,489			16,145			—			31,682
General and administrative	13,937			6,514			22,915			—			43,366
	17,066			68,543			304,636			(28,608		)	361,637

Gain (loss) on disposal of assets	(1,757		)	(3,657		)	823			—			(4,591		)
Earnings from unconsolidated affiliates, net of losses	(11,503		)	—			1,996			11,503			1,996
Operating income (loss)	(30,138		)	3,785			11,353			11,503			(3,497		)
Interest expense, net	(9,480		)	(5,008		)	(4,605		)	—			(19,093		)
Other income (expense), net	(16		)	227			(977		)	—			(766		)

Income (loss) before (provision) benefit for income taxes	(39,634		)	(996		)	5,771			11,503			(23,356		)
Allocation of consolidated income taxes	31,373			(1,791		)	(16,163		)	—			13,419
Net loss	(8,261		)	(2,787		)	(10,392		)	11,503			(9,937		)
Net (income) loss attributable to noncontrolling interests	(12		)	—			1,676			—			1,664
Net loss attributable to Bristow Group	$	(8,273	)	$	(2,787	)	$	(8,716	)	$	11,503		$	(8,273	)

Supplemental Condensed Consolidating Statement of Operations

Three Months Ended December 31, 2016



	Parent Company Only			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated

	(In thousands)
Revenue:
Gross revenue	$	—		$	39,558		$	297,885		$	—		$	337,443
Intercompany revenue	—			29,799			—			(29,799		)	—
	—			69,357			297,885			(29,799		)	337,443
Operating expense:
Direct cost and reimbursable expense	703			45,794			226,052			—			272,549
Intercompany expenses	—			—			29,799			(29,799		)	—
Depreciation and amortization	2,233			10,942			16,593			—			29,768
General and administrative	13,897			5,841			25,671			—			45,409
	16,833			62,577			298,115			(29,799		)	347,726

Loss on impairment	—			—			(8,706		)	—			(8,706		)
Loss on disposal of assets	—			(361		)	(513		)	—			(874		)
Earnings from unconsolidated affiliates, net of losses	4,562			—			765			(4,561		)	766
Operating income (loss)	(12,271		)	6,419			(8,684		)	(4,561		)	(19,097		)
Interest expense, net	(11,525		)	(42		)	(612		)	—			(12,179		)
Other income (expense), net	497			1,666			(495		)	—			1,668

Income (loss) before (provision) benefit for income taxes	(23,299		)	8,043			(9,791		)	(4,561		)	(29,608		)
Allocation of consolidated income taxes	1,386			(1,138		)	3,312			—			3,560
Net income (loss)	(21,913		)	6,905			(6,479		)	(4,561		)	(26,048		)
Net (income) loss attributable to noncontrolling interests	(13		)	—			4,134			—			4,121
Net income (loss) attributable to Bristow Group	$	(21,926	)	$	6,905		$	(2,345	)	$	(4,561	)	$	(21,927	)

Supplemental Condensed Consolidating Statement of Operations

Nine Months Ended December 31, 2017



	Parent Company Only			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated

	(In thousands)
Revenue:
Gross revenue	$	188		$	140,104		$	946,228		$	—		$	1,086,520
Intercompany revenue	—			92,518			—			(92,518		)	—
	188			232,622			946,228			(92,518		)	1,086,520
Operating expense:
Direct cost and reimbursable expense	3,350			147,829			733,314			—			884,493
Intercompany expenses	—			—			92,518			(92,518		)	—
Depreciation and amortization	8,981			38,209			46,929			—			94,119
General and administrative	50,924			17,899			69,872			—			138,695
	63,255			203,937			942,633			(92,518		)	1,117,307

Loss on impairment	—			(1,192		)	—			—			(1,192		)
Gain (loss) on disposal of assets	(1,757		)	7,356			(18,017		)	—			(12,418		)
Earnings from unconsolidated affiliates, net of losses	(22,506		)	—			3,394			22,506			3,394
Operating income (loss)	(87,330		)	34,849			(11,028		)	22,506			(41,003		)
Interest expense, net	(29,174		)	(16,811		)	(7,692		)	—			(53,677		)
Other income (expense), net	(142		)	(529		)	818			—			147

Income (loss) before (provision) benefit for income taxes	(116,646		)	17,509			(17,902		)	22,506			(94,533		)
Allocation of consolidated income taxes	21,925			(7,896		)	(16,575		)	—			(2,546		)
Net income (loss)	(94,721		)	9,613			(34,477		)	22,506			(97,079		)
Net (income) loss attributable to noncontrolling interests	(36		)	—			2,358			—			2,322
Net income (loss) attributable to Bristow Group	$	(94,757	)	$	9,613		$	(32,119	)	$	22,506		$	(94,757	)

Supplemental Condensed Consolidating Statement of Operations

Nine Months Ended December 31, 2016



	Parent Company Only			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated

	(In thousands)
Revenue:
Gross revenue	$	—		$	127,414		$	936,894		$	—		$	1,064,308
Intercompany revenue	—			78,413			—			(78,413		)	—
	—			205,827			936,894			(78,413		)	1,064,308
Operating expense:
Direct cost and reimbursable expense	72			142,270			727,270			—			869,612
Intercompany expenses	—			—			78,413			(78,413		)	—
Depreciation and amortization	6,549			38,728			47,777			—			93,054
General and administrative	51,643			18,921			78,714			—			149,278
	58,264			199,919			932,174			(78,413		)	1,111,944

Loss on impairment	—			(4,761		)	(11,517		)	—			(16,278		)
Loss on disposal of assets	—			(11,936		)	(1,141		)	—			(13,077		)
Earnings from unconsolidated affiliates, net of losses	(17,861		)	—			4,733			17,905			4,777
Operating income (loss)	(76,125		)	(10,789		)	(3,205		)	17,905			(72,214		)
Interest expense, net	(31,757		)	(1,070		)	(1,706		)	—			(34,533		)
Other income (expense), net	1,249			3,312			(6,079		)	—			(1,518		)

Loss before (provision) benefit for income taxes	(106,633		)	(8,547		)	(10,990		)	17,905			(108,265		)
Allocation of consolidated income taxes	14,178			(4,870		)	1,730			—			11,038
Net loss	(92,455		)	(13,417		)	(9,260		)	17,905			(97,227		)
Net (income) loss attributable to noncontrolling interests	(40		)	—			4,771			—			4,731
Net loss attributable to Bristow Group	$	(92,495	)	$	(13,417	)	$	(4,489	)	$	17,905		$	(92,496	)

Supplemental Condensed Consolidating Statement of Comprehensive Income (Loss)

Three Months Ended December 31, 2017



	Parent Company Only			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated

	(In thousands)
Net loss	$	(8,261	)	$	(2,787	)	$	(10,392	)	$	11,503		$	(9,937	)
Other comprehensive loss:
Currency translation adjustments	—			(18		)	1,116			(1,155		)	(57		)
Total comprehensive loss	(8,261		)	(2,805		)	(9,276		)	10,348			(9,994		)

Net (income) loss attributable to noncontrolling interests	(12		)	—			1,676			—			1,664
Currency translation adjustments attributable to noncontrolling interests	—			—			(17		)	—			(17		)
Total comprehensive (income) loss attributable to noncontrolling interests	(12		)	—			1,659			—			1,647
Total comprehensive loss attributable to Bristow Group	$	(8,273	)	$	(2,805	)	$	(7,617	)	$	10,348		$	(8,347	)

Supplemental Condensed Consolidating Statement of Comprehensive Income (Loss)

Three Months Ended December 31, 2016



	Parent Company Only			Guarantor Subsidiaries		Non- Guarantor Subsidiaries			Eliminations			Consolidated

	(In thousands)
Net income (loss)	$	(21,913	)	$	6,905	$	(6,479	)	$	(4,561	)	$	(26,048	)
Other comprehensive loss:
Currency translation adjustments	—			—		(11,792		)	(7,104		)	(18,896		)
Total comprehensive income (loss)	(21,913		)	6,905		(18,271		)	(11,665		)	(44,944		)

Net (income) loss attributable to noncontrolling interests	(13		)	—		4,134			—			4,121
Currency translation adjustments attributable to noncontrolling interests	—			—		(687		)	—			(687		)
Total comprehensive (income) loss attributable to noncontrolling interests	(13		)	—		3,447			—			3,434
Total comprehensive income (loss) attributable to Bristow Group	$	(21,926	)	$	6,905	$	(14,824	)	$	(11,665	)	$	(41,510	)

Supplemental Condensed Consolidating Statement of Comprehensive Income (Loss)

Nine Months Ended December 31, 2017



	Parent Company Only			Guarantor Subsidiaries		Non- Guarantor Subsidiaries			Eliminations			Consolidated

	(In thousands)
Net income (loss)	$	(94,721	)	$	9,613	$	(34,477	)	$	22,506		$	(97,079	)
Other comprehensive income (loss):
Currency translation adjustments	—			626		29,686			(9,918		)	20,394
Total comprehensive income (loss)	(94,721		)	10,239		(4,791		)	12,588			(76,685		)

Net (income) loss attributable to noncontrolling interests	(36		)	—		2,358			—			2,322
Currency translation adjustments attributable to noncontrolling interests	—			—		530			—			530
Total comprehensive (income) loss attributable to noncontrolling interests	(36		)	—		2,888			—			2,852
Total comprehensive income (loss) attributable to Bristow Group	$	(94,757	)	$	10,239	$	(1,903	)	$	12,588		$	(73,833	)

Supplemental Condensed Consolidating Statement of Comprehensive Income (Loss)

Nine Months Ended December 31, 2016



	Parent Company Only			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated

	(In thousands)
Net loss	$	(92,455	)	$	(13,417	)	$	(9,260	)	$	17,905		$	(97,227	)
Other comprehensive income (loss):
Currency translation adjustments	—			—			196,442			(227,912		)	(31,470		)
Total comprehensive income (loss)	(92,455		)	(13,417		)	187,182			(210,007		)	(128,697		)

Net (income) loss attributable to noncontrolling interests	(40		)	—			4,771			—			4,731
Currency translation adjustments attributable to noncontrolling interests	—			—			(5,652		)	—			(5,652		)
Total comprehensive income attributable to noncontrolling interests	(40		)	—			(881		)	—			(921		)
Total comprehensive income (loss) attributable to Bristow Group	$	(92,495	)	$	(13,417	)	$	186,301		$	(210,007	)	$	(129,618	)

Supplemental Condensed Consolidating Balance Sheet

As of December 31, 2017



	Parent Company Only			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated

	(In thousands)
ASSETS
Current assets:
Cash and cash equivalents	$	27,895		$	—		$	90,875		$	(922	)	$	117,848
Accounts receivable	148,115			419,838			320,897			(674,071		)	214,779
Inventories	—			31,623			102,370			—			133,993
Assets held for sale	—			25,265			5,773			—			31,038
Prepaid expenses and other current assets	2,427			5,234			36,007			—			43,668
Total current assets	178,437			481,960			555,922			(674,993		)	541,326
Intercompany investment	2,387,382			104,435			136,627			(2,628,444		)	—
Investment in unconsolidated affiliates	—			—			211,115			—			211,115
Intercompany notes receivable	166,341			36,358			157,575			(360,274		)	—
Property and equipment—at cost:
Land and buildings	4,806			58,252			178,734			—			241,792
Aircraft and equipment	157,421			1,135,071			1,218,830			—			2,511,322
	162,227			1,193,323			1,397,564			—			2,753,114
Less: Accumulated depreciation and amortization	(38,062		)	(257,033		)	(378,835		)	—			(673,930		)
	124,165			936,290			1,018,729			—			2,079,184
Goodwill	—			—			20,299			—			20,299
Other assets	9,471			1,961			103,822			(21		)	115,233
Total assets	$	2,865,796		$	1,561,004		$	2,204,089		$	(3,663,732	)	$	2,967,157

LIABILITIES, REDEEMABLE NONCONTROLLING INTEREST AND STOCKHOLDERS’ INVESTMENT
Current liabilities:
Accounts payable	$	348,871		$	203,517		$	190,827		$	(655,787	)	$	87,428
Accrued liabilities	48,284			4,391			157,341			(17,975		)	192,041
Short-term borrowings and current maturities of long-term debt	40,087			20,335			32,714			—			93,136
Total current liabilities	437,242			228,243			380,882			(673,762		)	372,605
Long-term debt, less current maturities	513,801			277,442			311,522			—			1,102,765
Intercompany notes payable	187,531			133,087			40,757			(361,375		)	—
Accrued pension liabilities	—			—			54,291			—			54,291
Other liabilities and deferred credits	13,570			7,660			16,538			—			37,768
Deferred taxes	78,937			47,494			15,494			(21		)	141,904
Redeemable noncontrolling interest	—			—			3,859			—			3,859
Stockholders’ investment:
Common stock	381			20,028			131,317			(151,345		)	381
Additional paid-in-capital	844,825			45,306			284,048			(329,354		)	844,825
Retained earnings	894,684			800,730			674,765			(1,475,495		)	894,684
Accumulated other comprehensive loss	78,306			1,014			285,707			(672,380		)	(307,353		)
Treasury shares	(184,796		)	—			—			—			(184,796		)
Total Bristow Group stockholders’ investment	1,633,400			867,078			1,375,837			(2,628,574		)	1,247,741
Noncontrolling interests	1,315			—			4,909			—			6,224
Total stockholders’ investment	1,634,715			867,078			1,380,746			(2,628,574		)	1,253,965
Total liabilities, redeemable noncontrolling interest and stockholders’ investment	$	2,865,796		$	1,561,004		$	2,204,089		$	(3,663,732	)	$	2,967,157

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

Nine Months Ended December 31, 2017



	Parent Company Only			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated

	(In thousands)
Net cash provided by (used in) operating activities	$	(105,817	)	$	34,995		$	62,437		$	(922	)	$	(9,307	)
Cash flows from investing activities:
Capital expenditures	(8,182		)	(7,755		)	(97,984		)	77,480			(36,441		)
Proceeds from asset dispositions	—			85,760			40,267			(77,480		)	48,547
Proceeds from OEM cost recoveries	—			—			94,463			—			94,463
Net cash provided by (used in) investing activities	(8,182		)	78,005			36,746			—			106,569
Cash flows from financing activities:
Proceeds from borrowings	318,550			—			230,218			—			548,768
Debt issuance costs	(2,558		)	(552		)	(8,543		)	—			(11,653		)
Repayment of debt	(569,325		)	(13,137		)	(27,205		)	—			(609,667		)
Purchase of 4½% Convertible Senior Notes call option	(40,393		)	—			—			—			(40,393		)
Proceeds from issuance of warrants	30,259			—			—			—			30,259
Dividends paid	110,637			—			(113,102		)	—			(2,465		)
Increases (decreases) in cash related to intercompany advances and debt	291,969			(99,610		)	(192,359		)	—			—
Partial prepayment of put/call obligation	(36		)	—			—			—			(36		)
Repurchases for tax withholdings on vesting of equity awards	(591		)	—			—			—			(591		)
Net cash provided by (used in) financing activities	138,512			(113,299		)	(110,991		)	—			(85,778		)
Effect of exchange rate changes on cash and cash equivalents	—			—			9,708			—			9,708
Net increase (decrease) in cash and cash equivalents	24,513			(299		)	(2,100		)	(922		)	21,192
Cash and cash equivalents at beginning of period	3,382			299			92,975			—			96,656
Cash and cash equivalents at end of period	$	27,895		$	—		$	90,875		$	(922	)	$	117,848

Supplemental Condensed Consolidating Statement of Cash Flows

Nine Months Ended December 31, 2016



	Parent Company Only			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated

	(In thousands)
Net cash provided by (used in) operating activities	$	(87,634	)	$	39,771		$	36,712		$	(2,947	)	$	(14,098	)
Cash flows from investing activities:
Capital expenditures	(15,385		)	(21,093		)	(83,248		)	—			(119,726		)
Proceeds from asset dispositions	—			12,894			1,450			—			14,344
Investment in unconsolidated affiliate	—			290			—			—			290
Net cash used in investing activities	(15,385		)	(7,909		)	(81,798		)	—			(105,092		)
Cash flows from financing activities:
Proceeds from borrowings	243,900			109,890			6,450			—			360,240
Debt issuance costs	(2,925		)	—			(958		)	—			(3,883		)
Repayment of debt	(218,900		)	(4,494		)	(20,283		)	—			(243,677		)
Dividends paid	(7,010		)	4			(360		)	—			(7,366		)
Increases (decreases) in cash related to intercompany advances and debt	55,910			(140,655		)	84,745			—			—
Partial prepayment of put/call obligation	(38		)	—			—			—			(38		)
Dividends paid to noncontrolling interest	—			—			(2,533		)	—			(2,533		)
Payment of contingent consideration	—			—			(10,000		)	—			(10,000		)
Repurchases for tax withholdings on vesting of equity awards	(762		)	—			—			—			(762		)
Net cash provided by (used in) financing activities	70,175			(35,255		)	57,061			—			91,981
Effect of exchange rate changes on cash and cash equivalents	—			—			(5,942		)	—			(5,942		)
Net increase (decrease) in cash and cash equivalents	(32,844		)	(3,393		)	6,033			(2,947		)	(33,151		)
Cash and cash equivalents at beginning of period	35,241			3,393			65,676			—			104,310
Cash and cash equivalents at end of period	$	2,397		$	—		$	71,709		$	(2,947	)	$	71,159