SEGMENT INFORMATION

We conduct our business in one segment: industrial aviation services. The industrial aviation services global operations are conducted primarily through two hubs that include four regions as follows: Europe Caspian, Africa, Americas and Asia Pacific. The Europe Caspian region comprises all our operations and affiliates in Europe and Central Asia, including Norway, the U.K. and Turkmenistan. The Africa region comprises all our operations and affiliates on the African continent, including Nigeria and Egypt. The Americas region comprises all our operations and affiliates in North America and South America, including Brazil, Canada, Guyana, Trinidad and the U.S. Gulf of Mexico. The Asia Pacific region comprises all our operations and affiliates in Australia and Southeast Asia. Prior to the sale of BHLL and Aviashelf during the three months ended September 30, 2019, we had operations in Sakhalin, Russia which is included in our Asia Pacific region.

The following tables show region information for the three and six months ended September 30, 2019 and 2018 and as of September 30 and March 31, 2019, where applicable, reconciled to consolidated totals, and prepared on the same basis as our condensed consolidated financial statements (in thousands):



	Three Months Ended September 30,						Six Months Ended September 30,
	2019			2018			2019			2018
Region revenue from external customers:
Europe Caspian	$	179,870		$	201,547		$	368,464		$	420,047
Africa	47,165			39,392			96,681			75,808
Americas	61,726			56,068			118,716			107,435
Asia Pacific	29,449			51,628			67,260			111,824
Corporate and other	10			708			275			897
Total region revenue ⁽¹⁾	$	318,220		$	349,343		$	651,396		$	716,011
Intra-region revenue:
Europe Caspian	$	572		$	2,254		$	1,616		$	3,934
Africa	—			—			122			—
Americas	537			1,011			1,848			2,648
Asia Pacific	29			—			73			—
Corporate and other	—			—			—			1
Total intra-region revenue	$	1,138		$	3,265		$	3,659		$	6,583
Consolidated revenue:
Europe Caspian	$	180,442		$	203,801		$	370,080		$	423,981
Africa	47,165			39,392			96,803			75,808
Americas	62,263			57,079			120,564			110,083
Asia Pacific	29,478			51,628			67,333			111,824
Corporate and other	10			708			275			898
Intra-region eliminations	(1,138		)	(3,265		)	(3,659		)	(6,583		)
Total consolidated revenue ⁽¹⁾	$	318,220		$	349,343		$	651,396		$	716,011

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⁽¹⁾

The above table represents disaggregated revenue from contracts with customers except for $8.4 million of revenue included in totals ($0.3 million from Europe Caspian, $8.0 million from Americas and $0.1 million from Asia Pacific) for the three months ended September 30, 2019 and $12.2 million of revenue included in totals ($4.1 million from Europe Caspian, $8.0 million from Americas and $0.1 million from Asia Pacific) for the three months ended September 30, 2018. The above table represents disaggregated revenue from contracts with customers except for $16.8 million of revenue included in totals ($0.6 million from Europe Caspian, $16.0 million from Americas and $0.2 million from Asia Pacific) for the six months ended September 30, 2019 and $32.0 million of revenue included in totals ($17.1 million from Europe Caspian, $14.7 million from Americas and $0.2 million from Asia Pacific) for the six months ended September 30, 2018. For further details on revenue recognition, see Note 3.



	Three Months Ended September 30,						Six Months Ended September 30,
	2019			2018			2019			2018
Earnings from unconsolidated affiliates, net of losses – equity method investments:
Europe Caspian	$	(3	)	$	(6	)	$	168		$	19
Americas	315			1,573			2,491			136
Corporate and other	321			(106		)	321			(241		)
Total earnings from unconsolidated affiliates, net of losses – equity method investments	$	633		$	1,461		$	2,980		$	(86	)

Consolidated operating loss:
Europe Caspian	$	11,224		$	(11,414	)	$	23,031		$	10,514
Africa	6,528			1,465			14,273			2,606
Americas	3,527			2,056			7,095			(5,287		)
Asia Pacific	(19,848		)	(6,988		)	(32,282		)	(7,959		)
Corporate and other	(63,297		)	(113,274		)	(91,938		)	(129,905		)
Loss on disposal of assets	(230		)	(1,293		)	(4,017		)	(2,971		)
Total consolidated operating loss ⁽¹⁾	$	(62,096	)	$	(129,448	)	$	(83,838	)	$	(133,002	)

Depreciation and amortization:
Europe Caspian	$	12,395		$	12,189		$	24,834		$	24,944
Africa	5,007			3,665			9,998			7,079
Americas	7,590			7,310			14,470			14,191
Asia Pacific	2,970			4,054			6,691			8,409
Corporate and other	3,341			3,271			6,649			6,807
Total depreciation and amortization	$	31,303		$	30,489		$	62,642		$	61,430



	September 30, 2019		March 31, 2019
Identifiable assets:
Europe Caspian	$	1,281,386	$	1,070,863
Africa	351,345		325,502
Americas	690,547		661,266
Asia Pacific	171,809		255,136
Corporate and other ⁽²⁾	297,488		339,832
Total identifiable assets	$	2,792,575	$	2,652,599



Investments in unconsolidated affiliates – equity method investments:
Europe Caspian	$	329	$	375
Americas	103,371		108,831
Corporate and other	—		2,711
Total investments in unconsolidated affiliates – equity method investments	$	103,700	$	111,917

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⁽¹⁾

Results for the three months ended September 30, 2018 were positively impacted by a reduction to rent expense of $2.4 million (included in direct costs) impacting Europe Caspian and Asia Pacific regions by $1.7 million and $0.7 million, respectively, related to OEM cost recoveries for ongoing aircraft issues. Results for the six months ended September 30, 2019 were positively impacted by a reduction to rent expense of $6.0 million (included in direct costs) impacting Europe Caspian and Asia Pacific regions by $1.5 million and $4.5 million, respectively, related to OEM cost recoveries for ongoing aircraft issues. Results for the six months ended September 30, 2018 were positively impacted by a reduction to rent expense of $5.9 million (included in direct costs) impacting Europe Caspian and Asia Pacific regions by $4.4 million and $1.5 million, respectively, related to OEM cost recoveries for ongoing aircraft issues. For further details, see Note 1.

⁽²⁾

Includes $20.5 million and $51.7 million ofconstruction in progress within property and equipment on our condensed consolidated balance sheets as of September 30 and March 31, 2019, respectively, which primarily represents progress payments on aircraft to be delivered in future periods. During the three and six months ended September 30, 2019, we rejected our aircraft purchase agreement with Airbus Helicopters S.A.S. and wrote-off $30.6 million of construction in progress.