SUPPLEMENTAL CONDENSED CONSOLIDATING FINANCIAL INFORMATION (Tables)

6 Months Ended

Sep. 30, 2018

Supplemental Condensed Consolidating Financial Information [Abstract]

Supplemental Condensed Consolidating Statement of Operations

Three Months Ended September 30, 2018



	Parent Company Only			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated

	(In thousands)
Revenue:
Gross revenue	$	45		$	36,798		$	313,814		$	—		$	350,657
Intercompany revenue	—			27,496			—			(27,496		)	—
	45			64,294			313,814			(27,496		)	350,657
Operating expense:
Direct cost and reimbursable expense	20			40,981			251,410			—			292,411
Intercompany expenses	15,307			—			12,189			(27,496		)	—
Depreciation and amortization	3,092			17,733			9,664			—			30,489
General and administrative	12,907			5,125			20,807			—			38,839
	31,326			63,839			294,070			(27,496		)	361,739

Loss on impairment	—			(87,474		)	(29,746		)	—			(117,220		)
Loss on disposal of assets	—			(318		)	(975		)	—			(1,293		)
Earnings (losses) from unconsolidated affiliates, net	(123,987		)	—			(96		)	123,987			(96		)
Operating loss	(155,268		)	(87,337		)	(11,073		)	123,987			(129,691		)
Interest expense, net	(15,564		)	(5,915		)	(4,954		)	—			(26,433		)
Other income (expense), net	50			242			(3,496		)	—			(3,204		)

Loss before (provision) benefit for income taxes	(170,782		)	(93,010		)	(19,523		)	123,987			(159,328		)
Allocation of consolidated income taxes	26,605			(1,176		)	(9,774		)	—			15,655
Net loss	(144,177		)	(94,186		)	(29,297		)	123,987			(143,673		)
Net income attributable to noncontrolling interests	(13		)	—			(504		)	—			(517		)
Net loss attributable to Bristow Group	$	(144,190	)	$	(94,186	)	$	(29,801	)	$	123,987		$	(144,190	)

Supplemental Condensed Consolidating Statement of Operations

Three Months Ended September 30, 2017



	Parent Company Only			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated

	(In thousands)
Revenue:
Gross revenue	$	—		$	46,952		$	326,724		$	—		$	373,676
Intercompany revenue	—			31,719			—			(31,719		)	—
	—			78,671			326,724			(31,719		)	373,676
Operating expense:
Direct cost and reimbursable expense	3,263			45,955			250,938			—			300,156
Intercompany expenses	—			—			31,719			(31,719		)	—
Depreciation and amortization	3,016			13,237			15,128			—			31,381
General and administrative	17,880			5,623			25,119			—			48,622
	24,159			64,815			322,904			(31,719		)	380,159

Gain (loss) on disposal of assets	—			10,597			(19,123		)	—			(8,526		)
Earnings (losses) from unconsolidated affiliates, net	9,642			—			2,063			(9,642		)	2,063
Operating income (loss)	(14,517		)	24,453			(13,240		)	(9,642		)	(12,946		)
Interest expense, net	(10,636		)	(6,023		)	(1,904		)	—			(18,563		)
Other income (expense), net	(97		)	(399		)	3,083			—			2,587

Income (loss) before (provision) benefit for income taxes	(25,250		)	18,031			(12,061		)	(9,642		)	(28,922		)
Allocation of consolidated income taxes	(5,946		)	(1,945		)	5,417			—			(2,474		)
Net income (loss)	(31,196		)	16,086			(6,644		)	(9,642		)	(31,396		)
Net (income) loss attributable to noncontrolling interests	(13		)	—			200			—			187
Net income (loss) attributable to Bristow Group	$	(31,209	)	$	16,086		$	(6,444	)	$	(9,642	)	$	(31,209	)

Supplemental Condensed Consolidating Statement of Operations

Six Months Ended September 30, 2018



	Parent Company Only			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated

	(In thousands)
Revenue:
Third party revenue	$	90		$	70,933		$	647,528		$	—		$	718,551
Intercompany revenue	—			54,013			—			(54,013		)	—
	90			124,946			647,528			(54,013		)	718,551
Operating expense:
Direct cost and reimbursable expense	36			82,857			505,473			—			588,366
Intercompany expenses	15,307			—			38,706			(54,013		)	—
Depreciation and amortization	6,158			35,955			19,317			—			61,430
General and administrative	25,695			8,923			44,322			—			78,940
	47,196			127,735			607,818			(54,013		)	728,736

Loss on impairment	—			(87,474		)	(29,746		)	—			(117,220		)
Loss on disposal of assets	(806		)	(1,478		)	(687		)	—			(2,971		)
Earnings (losses) from unconsolidated affiliates, net	(131,296		)	—			(3,113		)	131,296			(3,113		)
Operating income (loss)	(179,208		)	(91,741		)	6,164			131,296			(133,489		)
Interest expense, net	(31,943		)	(12,745		)	(8,889		)	—			(53,577		)
Other income (expense), net	184			1,317			(8,655		)	—			(7,154		)

Loss before (provision) benefit for income taxes	(210,967		)	(103,169		)	(11,380		)	131,296			(194,220		)
Allocation of consolidated income taxes	34,697			(283		)	(15,908		)	—			18,506
Net loss	(176,270		)	(103,452		)	(27,288		)	131,296			(175,714		)
Net income attributable to noncontrolling interests	(28		)	—			(556		)	—			(584		)
Net loss attributable to Bristow Group	$	(176,298	)	$	(103,452	)	$	(27,844	)	$	131,296		$	(176,298	)

Supplemental Condensed Consolidating Statement of Operations

Six Months Ended September 30, 2017



	Parent Company Only			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated

	(In thousands)
Revenue:
Third party revenue	$	—		$	92,727		$	633,058		$	—		$	725,785
Intercompany revenue	—			63,910			—			(63,910		)	—
	—			156,637			633,058			(63,910		)	725,785
Operating expense:
Direct cost and reimbursable expense	3,269			98,289			496,404			—			597,962
Intercompany expenses	—			—			63,910			(63,910		)	—
Depreciation and amortization	5,933			25,720			30,784			—			62,437
General and administrative	36,987			11,385			46,957			—			95,329
	46,189			135,394			638,055			(63,910		)	755,728

Loss on impairment	—			(1,192		)	—			—			(1,192		)
Gain (loss) on disposal of assets	—			11,013			(18,840		)	—			(7,827		)
Earnings (losses) from unconsolidated affiliates, net	(11,003		)	—			1,398			11,003			1,398
Operating income (loss)	(57,192		)	31,064			(22,439		)	11,003			(37,564		)
Interest expense, net	(19,694		)	(11,803		)	(3,087		)	—			(34,584		)
Other income (expense), net	(126		)	(756		)	1,853			—			971

Income (loss) before provision for income taxes	(77,012		)	18,505			(23,673		)	11,003			(71,177		)
Allocation of consolidated income taxes	(9,448		)	(6,105		)	(412		)	—			(15,965		)
Net income (loss)	(86,460		)	12,400			(24,085		)	11,003			(87,142		)
Net (income) loss attributable to noncontrolling interests	(24		)	—			682			—			658
Net income (loss) attributable to Bristow Group	$	(86,484	)	$	12,400		$	(23,403	)	$	11,003		$	(86,484	)

Supplemental Condensed Consolidating Statement of Comprehensive Income (Loss)

Three Months Ended September 30, 2018



	Parent Company Only			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations		Consolidated

	(In thousands)
Net loss	$	(144,177	)	$	(94,186	)	$	(29,297	)	$	123,987	$	(143,673	)
Other comprehensive loss:
Currency translation adjustments	—			(159		)	(14,306		)	6,498		(7,967		)
Unrealized loss on cash flow hedges	—			—			(98		)	—		(98		)
Total comprehensive loss	(144,177		)	(94,345		)	(43,701		)	130,485		(151,738		)

Net income attributable to noncontrolling interests	(13		)	—			(504		)	—		(517		)
Currency translation adjustments attributable to noncontrolling interests	—			—			(32		)	—		(32		)
Total comprehensive income attributable to noncontrolling interests	(13		)	—			(536		)	—		(549		)
Total comprehensive loss attributable to Bristow Group	$	(144,190	)	$	(94,345	)	$	(44,237	)	$	130,485	$	(152,287	)

Supplemental Condensed Consolidating Statement of Comprehensive Income (Loss)

Three Months Ended September 30, 2017



	Parent Company Only			Guarantor Subsidiaries		Non- Guarantor Subsidiaries			Eliminations			Consolidated

	(In thousands)
Net income (loss)	$	(31,196	)	$	16,086	$	(6,644	)	$	(9,642	)	$	(31,396	)
Other comprehensive income (loss):
Currency translation adjustments	—			306		14,218			(3,833		)	10,691
Total comprehensive income (loss)	(31,196		)	16,392		7,574			(13,475		)	(20,705		)

Net (income) loss attributable to noncontrolling interests	(13		)	—		200			—			187
Currency translation adjustments attributable to noncontrolling interests	—			—		237			—			237
Total comprehensive (income) loss attributable to noncontrolling interests	(13		)	—		437			—			424
Total comprehensive income (loss) attributable to Bristow Group	$	(31,209	)	$	16,392	$	8,011		$	(13,475	)	$	(20,281	)

Supplemental Condensed Consolidating Statement of Comprehensive Income (Loss)

Six Months Ended September 30, 2018



	Parent Company Only			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations		Consolidated

	(In thousands)
Net loss	$	(176,270	)	$	(103,452	)	$	(27,288	)	$	131,296	$	(175,714	)
Other comprehensive loss:
Currency translation adjustments	—			(1,045		)	(96,108		)	60,153		(37,000		)
Unrealized gain on cash flow hedges	—			—			1,250			—		1,250
Total comprehensive loss	(176,270		)	(104,497		)	(122,146		)	191,449		(211,464		)

Net income attributable to noncontrolling interests	(28		)	—			(556		)	—		(584		)
Currency translation adjustments attributable to noncontrolling interests	—			—			(171		)	—		(171		)
Total comprehensive income attributable to noncontrolling interests	(28		)	—			(727		)	—		(755		)
Total comprehensive loss attributable to Bristow Group	$	(176,298	)	$	(104,497	)	$	(122,873	)	$	191,449	$	(212,219	)

Supplemental Condensed Consolidating Statement of Comprehensive Income (Loss)

Six Months Ended September 30, 2017



	Parent Company Only			Guarantor Subsidiaries		Non- Guarantor Subsidiaries			Eliminations			Consolidated

	(In thousands)
Net income (loss)	$	(86,460	)	$	12,400	$	(24,085	)	$	11,003		$	(87,142	)
Other comprehensive income (loss):
Currency translation adjustments	—			644		28,570			(8,763		)	20,451
Total comprehensive income (loss)	(86,460		)	13,044		4,485			2,240			(66,691		)

Net (income) loss attributable to noncontrolling interests	(24		)	—		682			—			658
Currency translation adjustments attributable to noncontrolling interests	—			—		547			—			547
Total comprehensive (income) loss attributable to noncontrolling interests	(24		)	—		1,229			—			1,205
Total comprehensive income (loss) attributable to Bristow Group	$	(86,484	)	$	13,044	$	5,714		$	2,240		$	(65,486	)

Supplemental Condensed Consolidating Balance Sheet

As of September 30, 2018



	Parent Company Only			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated

	(In thousands)
ASSETS
Current assets:
Cash and cash equivalents	$	236,075		$	1,131		$	70,585		$	—		$	307,791
Accounts receivable	438,878			508,873			291,308			(1,007,238		)	231,821
Inventories	—			36,637			81,069			—			117,706
Assets held for sale	—			19,856			4,320			—			24,176
Prepaid expenses and other current assets	2,608			2,802			41,193			—			46,603
Total current assets	677,561			569,299			488,475			(1,007,238		)	728,097
Intercompany investment	1,904,177			104,435			131,710			(2,140,322		)	—
Investment in unconsolidated affiliates	—			—			110,637			—			110,637
Intercompany notes receivable	124,389			9,229			159,725			(293,343		)	—
Property and equipment—at cost:
Land and buildings	4,806			58,089			180,350			—			243,245
Aircraft and equipment	157,378			1,317,739			1,016,174			—			2,491,291
	162,184			1,375,828			1,196,524			—			2,734,536
Less: Accumulated depreciation and amortization	(45,937		)	(384,448		)	(417,886		)	—			(848,271		)
	116,247			991,380			778,638			—			1,886,265
Goodwill	—			—			18,778			—			18,778
Other assets	4,303			2,026			110,698			—			117,027
Total assets	$	2,826,677		$	1,676,369		$	1,798,661		$	(3,440,903	)	$	2,860,804

LIABILITIES AND STOCKHOLDERS’ INVESTMENT
Current liabilities:
Accounts payable	$	397,602		$	428,348		$	276,016		$	(998,456	)	$	103,510
Accrued liabilities	53,851			(5,771		)	134,567			(7,738		)	174,909
Short-term borrowings and current maturities of long-term debt	(3,541		)	20,079			34,260			—			50,798
Total current liabilities	447,912			442,656			444,843			(1,006,194		)	329,217
Long-term debt, less current maturities	848,103			258,590			292,218			—			1,398,911
Intercompany notes payable	105,791			168,885			19,769			(294,445		)	—
Accrued pension liabilities	—			—			28,484			—			28,484
Other liabilities and deferred credits	12,177			7,253			12,209			—			31,639
Deferred taxes	42,991			27,343			27,038			—			97,372
Stockholders’ investment:
Common stock	385			4,996			131,317			(136,313		)	385
Additional paid-in-capital	858,809			29,387			284,048			(313,435		)	858,809
Retained earnings	615,739			736,924			284,481			(1,021,405		)	615,739
Accumulated other comprehensive income (loss)	78,306			335			268,455			(669,111		)	(322,015		)
Treasury shares	(184,796		)	—			—			—			(184,796		)
Total Bristow Group stockholders’ investment	1,368,443			771,642			968,301			(2,140,264		)	968,122
Noncontrolling interests	1,260			—			5,799			—			7,059
Total stockholders’ investment	1,369,703			771,642			974,100			(2,140,264		)	975,181
Total liabilities and stockholders’ investment	$	2,826,677		$	1,676,369		$	1,798,661		$	(3,440,903	)	$	2,860,804

Supplemental Condensed Consolidating Balance Sheet

As of March 31, 2018



	Parent Company Only			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated

	(In thousands)
ASSETS
Current assets:
Cash and cash equivalents	$	277,176		$	8,904		$	94,143		$	—		$	380,223
Accounts receivable	211,412			423,214			250,984			(638,630		)	246,980
Inventories	—			31,300			98,314			—			129,614
Assets held for sale	—			26,737			3,611			—			30,348
Prepaid expenses and other current assets	3,367			4,494			41,016			(1,643		)	47,234
Total current assets	491,955			494,649			488,068			(640,273		)	834,399
Intercompany investment	2,204,454			104,435			141,683			(2,450,572		)	—
Investment in unconsolidated affiliates	—			—			126,170			—			126,170
Intercompany notes receivable	183,634			36,358			368,575			(588,567		)	—
Property and equipment—at cost:
Land and buildings	4,806			58,191			187,043			—			250,040
Aircraft and equipment	156,651			1,326,922			1,027,558			—			2,511,131
	161,457			1,385,113			1,214,601			—			2,761,171
Less: Accumulated depreciation and amortization	(39,780		)	(263,412		)	(389,959		)	—			(693,151		)
	121,677			1,121,701			824,642			—			2,068,020
Goodwill	—			—			19,907			—			19,907
Other assets	4,966			2,122			109,418			—			116,506
Total assets	$	3,006,686		$	1,759,265		$	2,078,463		$	(3,679,412	)	$	3,165,002

LIABILITIES AND STOCKHOLDERS’ INVESTMENT
Current liabilities:
Accounts payable	$	341,342		$	175,133		$	201,704		$	(616,909	)	$	101,270
Accrued liabilities	59,070			6,735			161,077			(21,955		)	204,927
Short-term borrowings and current maturities of long-term debt	(3,334		)	20,596			39,438			—			56,700
Total current liabilities	397,078			202,464			402,219			(638,864		)	362,897
Long-term debt, less current maturities	843,819			276,186			309,829			—			1,429,834
Intercompany notes payable	132,740			370,407			41,001			(544,148		)	—
Accrued pension liabilities	—			—			37,034			—			37,034
Other liabilities and deferred credits	14,078			7,924			14,950			—			36,952
Deferred taxes	77,373			27,794			10,025			—			115,192
Stockholders’ investment:
Common stock	382			4,996			131,317			(136,313		)	382
Additional paid-in-capital	852,565			29,387			284,048			(313,435		)	852,565
Retained earnings	793,783			838,727			478,661			(1,317,388		)	793,783
Accumulated other comprehensive income (loss)	78,306			1,380			363,484			(729,264		)	(286,094		)
Treasury shares	(184,796		)	—			—			—			(184,796		)
Total Bristow Group stockholders’ investment	1,540,240			874,490			1,257,510			(2,496,400		)	1,175,840
Noncontrolling interests	1,358			—			5,895			—			7,253
Total stockholders’ investment	1,541,598			874,490			1,263,405			(2,496,400		)	1,183,093
Total liabilities and stockholders’ investment	$	3,006,686		$	1,759,265		$	2,078,463		$	(3,679,412	)	$	3,165,002

Supplemental Condensed Consolidating Statement of Cash Flows

Six Months Ended September 30, 2018



	Parent Company Only			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations		Consolidated

	(In thousands)
Net cash provided by (used in) operating activities	$	(35,375	)	$	14,041		$	(5,568	)	$	—	$	(26,902	)
Cash flows from investing activities:
Capital expenditures	(1,536		)	(2,499		)	(13,267		)	—		(17,302		)
Proceeds from asset dispositions	—			7,528			934			—		8,462
Net cash provided by (used in) investing activities	(1,536		)	5,029			(12,333		)	—		(8,840		)
Cash flows from financing activities:
Proceeds from borrowings	—			—			387			—		387
Debt issuance costs	(597		)	(32		)	(1,925		)	—		(2,554		)
Repayment of debt	(8,841		)	(10,505		)	(10,624		)	—		(29,970		)
Dividends paid	162,941			1,649			(164,590		)	—		—
Increases (decreases) in cash related to intercompany advances and debt	(158,992		)	(17,955		)	176,947			—		—
Partial prepayment of put/call obligation	(27		)	—			—			—		(27		)
Dividends paid to noncontrolling interest	—			—			(580		)	—		(580		)
Issuance of common stock	2,830			—			—			—		2,830
Repurchases for tax withholdings on vesting of equity awards	(1,504		)	—			—			—		(1,504		)
Net cash provided by (used in) financing activities	(4,190		)	(26,843		)	(385		)	—		(31,418		)
Effect of exchange rate changes on cash and cash equivalents	—			—			(5,272		)	—		(5,272		)
Net decrease in cash and cash equivalents	(41,101		)	(7,773		)	(23,558		)	—		(72,432		)
Cash and cash equivalents at beginning of period	277,176			8,904			94,143			—		380,223
Cash and cash equivalents at end of period	$	236,075		$	1,131		$	70,585		$	—	$	307,791

Supplemental Condensed Consolidating Statement of Cash Flows

Six Months Ended September 30, 2017



	Parent Company Only			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated

	(In thousands)
Net cash provided by (used in) operating activities	$	(78,756	)	$	32,581		$	10,841		$	—		$	(35,334	)
Cash flows from investing activities:
Capital expenditures	(6,306		)	(5,814		)	(89,677		)	77,480			(24,317		)
Proceeds from asset dispositions	—			80,210			39,514			(77,480		)	42,244
Net cash provided by (used in) investing activities	(6,306		)	74,396			(50,163		)	—			17,927
Cash flows from financing activities:
Proceeds from borrowings	107,800			—			230,218			—			338,018
Debt issuance costs	—			(552		)	(6,143		)	—			(6,695		)
Repayment of debt	(285,946		)	(9,073		)	(23,111		)	—			(318,130		)
Dividends paid	110,637			—			(113,102		)	—			(2,465		)
Increases (decreases) in cash related to intercompany advances and debt	150,351			(96,880		)	(53,471		)	—			—
Partial prepayment of put/call obligation	(23		)	—			—			—			(23		)
Repurchases for tax withholdings on vesting of equity awards	(548		)	—			—			—			(548		)
Net cash provided by (used in) financing activities	82,271			(106,505		)	34,391			—			10,157
Effect of exchange rate changes on cash and cash equivalents	—			—			7,937			—			7,937
Net increase (decrease) in cash and cash equivalents	(2,791		)	472			3,006			—			687
Cash and cash equivalents at beginning of period	3,382			299			92,975			—			96,656
Cash and cash equivalents at end of period	$	591		$	771		$	95,981		$	—		$	97,343