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BANKRUPTCY AND RELATED MATTERS (Tables)
6 Months Ended
Sep. 30, 2019
Reorganizations [Abstract]  
Schedule Of Liabilities Subject To Compromise [Table Text Block]
Liabilities subject to compromise included in our condensed consolidated balance sheet includes the following as of September 30, 2019 (in thousands):
6¼% Senior Notes due 2022 principal and accrued interest (1)
$
415,894

4½% Convertible Senior Notes due 2023 principal and accrued interest (2)
146,627

Accrued lease termination costs (3)
35,000

Milestone Omnibus Agreement (4)
20,063

Corporate lease termination (5)
5,300

Deferred compensation plan
1,983

 
$
624,867

_____________ 
(1) 
Includes $401.5 million of principal and $14.4 million of interest accrued through May 11, 2019. See Note 5 for further details.
(2) 
Includes $143.8 million of principal and $2.9 million of interest accrued through May 11, 2019. See Note 5 for further details.
(3) 
Relates to ten aircraft leases rejected in June 2019, including nine S-76C+s and one S-76D. See Note 9 for further details.
(4) 
Includes costs related to the return of four leased H225s on May 6, 2019 and includes lease termination costs, deferred lease costs previously included as short-term debt on our condensed consolidated balance sheet and additional lease return costs. See Note 9 for further details.
(5) 
See Note 9 for further details.
Schedule Of Reorganization Items [Table Text Block]
Reorganization items, net included in our condensed consolidated statement of operations represent amounts incurred after May 11, 2019 or expected to be incurred directly resulting from the Chapter 11 Cases and consist of the following items for the three and six months ended September 30, 2019 (in thousands):
 
Three Months Ended September 30, 2019
 
Six Months Ended September 30, 2019
 
 
Professional fees
$
35,462

 
$
50,965

H175 settlement agreement (1)
31,830

 
31,830

Lease termination costs (2)
4,170

 
30,221

Write-off of discount on 4½% Convertible Senior Notes due 2023

 
30,158

Backstop Commitment Agreement (3)
19,250

 
19,250

Write-off of deferred financing fees (4)
4,114

 
8,758

Corporate lease termination cost
1,063

 
1,063

Milestone Omnibus Agreement allowed claim adjustment (5)
(1,946
)
 
(1,946
)
 
$
93,943

 
$
170,299

_____________ 
(1) 
During the three and six months ended September 30, 2019, we rejected our aircraft purchase agreement with Airbus Helicopters S.A.S. for the 22 H175 helicopters.
(2) 
Relates to ten aircraft leases rejected in June 2019, including nine S-76C+s and one S-76D.
(3) 
The three and six months ended September 30, 2019 includes $19.3 million of estimated fees related to the Backstop Commitment Agreement. See Note 5 for further details.
(4) 
The three months ended September 30, 2019 includes $4.1 million incurred for fees related to the DIP Credit Agreement. The six months ended September 30, 2019 includes $2.4 million related to the 6¼% Senior Notes due 2022 (“6¼% Senior Notes”), $2.3 million related to deferred financing fees related to the 4½% Convertible Senior Notes due 2023 (“4½% Convertible Senior Notes”) and $4.1 million incurred for fees related to the DIP Credit Agreement.
Condensed Income Statement [Table Text Block]
The financial statements below represent condensed combined financial statements of the Debtors, which excludes non-debtor entities. Intercompany transactions among the Debtors have been eliminated in the financial statements contained below. Intercompany transactions among the Debtors and the non-debtor subsidiaries have not been eliminated in the Debtors’ financial statements below.
BRISTOW GROUP INC. (DEBTOR-IN-POSSESSION)
Condensed Combined Statements of Operations
  
 
Three Months Ended
 September 30, 2019
 
Six Months Ended
 September 30, 2019
 
 
 
 
 
 
 
(Unaudited)
 
 
(In thousands)
Revenue
 
$
90,918

 
$
180,630

Operating expense:
 
 
 
 
Direct cost and reimbursable expense
 
62,397

 
134,741

Prepetition restructuring charges
 

 
12,449

Depreciation and amortization
 
31,319

 
62,608

General and administrative
 
19,999

 
33,760

 
 
113,715

 
243,558

 
 
 
 
 
Loss on impairment
 
(42,022
)
 
(42,022
)
Gain (loss) on disposal of assets
 
(375
)
 
4,200

Operating loss
 
(65,194
)
 
(100,750
)
Interest expense, net
 
(18,364
)
 
(39,817
)
Reorganization items, net
 
(83,392
)
 
(159,289
)
Other income, net
 
1,000

 
1,679

Loss before benefit for income taxes
 
(165,950
)
 
(298,177
)
Benefit for income taxes
 
25,291

 
44,350

Net loss
 
(140,659
)
 
(253,827
)
Net income attributable to noncontrolling interests
 
(10
)
 
(24
)
Net loss attributable to Bristow Group
 
$
(140,669
)
 
$
(253,851
)
Supplemental Condensed Consolidating Statement of Operations
Three Months Ended September 30, 2019
 
 
Parent
Company
Only
 
Guarantor
Subsidiaries
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
 
 
 
 
 
 
 
 
 
 
 
 
 
(In thousands)
Revenue:
 
 
 
 
 
 
 
 
 
 
Gross revenue
 
$

 
$
41,768

 
$
276,452

 
$

 
$
318,220

Intercompany revenue
 

 
22,416

 

 
(22,416
)
 

 
 

 
64,184

 
276,452

 
(22,416
)
 
318,220

Operating expense:
 
 
 
 
 
 
 
 
 
 
Direct cost and reimbursable expense
 
32

 
42,709

 
206,754

 

 
249,495

Intercompany expenses
 

 

 
22,416

 
(22,416
)
 

Depreciation and amortization
 
3,192

 
17,970

 
10,141

 

 
31,303

General and administrative
 
15,967

 
3,949

 
17,904

 

 
37,820

 
 
19,191

 
64,628

 
257,215

 
(22,416
)
 
318,618

 
 
 
 
 
 
 
 
 
 
 
Loss on impairment
 

 
(42,022
)
 
(20,079
)
 

 
(62,101
)
Gain (loss) on disposal of assets
 

 
(377
)
 
147

 

 
(230
)
Earnings from unconsolidated affiliates, net of losses
 
(103,132
)
 

 
633

 
103,132

 
633

Operating income (loss)
 
(122,323
)
 
(42,843
)
 
(62
)
 
103,132

 
(62,096
)
Interest expense, net
 
(11,100
)
 
(5,376
)
 
(5,969
)
 

 
(22,445
)
Reorganization items, net
 
(56,589
)
 
(28,552
)
 
(8,802
)
 

 
(93,943
)
Gain on sale of subsidiaries
 

 

 
420

 

 
420

Other income (expense), net
 
244

 
758

 
(7,639
)
 

 
(6,637
)
 
 
 
 
 
 
 
 
 
 
 
Loss before (provision) benefit for income taxes
 
(189,768
)
 
(76,013
)
 
(22,052
)
 
103,132

 
(184,701
)
Allocation of consolidated income taxes
 
26,805

 
(1,513
)
 
(3,510
)
 

 
21,782

Net loss
 
(162,963
)
 
(77,526
)
 
(25,562
)
 
103,132

 
(162,919
)
Net income attributable to noncontrolling interests
 
(11
)
 

 
(44
)
 

 
(55
)
Net loss attributable to Bristow Group
 
$
(162,974
)
 
$
(77,526
)
 
$
(25,606
)
 
$
103,132

 
$
(162,974
)
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

 
$
312,500

 
$

 
$
349,343

Intercompany revenue
 

 
27,496

 

 
(27,496
)
 

 
 
45

 
64,294

 
312,500

 
(27,496
)
 
349,343

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 from unconsolidated affiliates, net of losses
 
(123,744
)
 

 
1,461

 
123,744

 
1,461

Operating loss
 
(155,025
)
 
(87,337
)
 
(10,830
)
 
123,744

 
(129,448
)
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
 
(170,539
)
 
(93,010
)
 
(19,280
)
 
123,744

 
(159,085
)
Allocation of consolidated income taxes
 
26,605

 
(1,176
)
 
(9,774
)
 

 
15,655

Net loss
 
(143,934
)
 
(94,186
)
 
(29,054
)
 
123,744

 
(143,430
)
Net income attributable to noncontrolling interests
 
(13
)
 

 
(504
)
 

 
(517
)
Net loss attributable to Bristow Group
 
$
(143,947
)
 
$
(94,186
)
 
$
(29,558
)
 
$
123,744

 
$
(143,947
)
Supplemental Condensed Consolidating Statement of Operations
Six Months Ended September 30, 2019
 
 
Parent
Company
Only
 
Guarantor
Subsidiaries
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
 
 
 
 
 
 
 
 
 
 
 
 
 
(In thousands)
Revenue:
 
 
 
 
 
 
 
 
 
 
Third party revenue
 
$

 
$
79,567

 
$
571,829

 
$

 
$
651,396

Intercompany revenue
 

 
47,093

 

 
(47,093
)
 

 
 

 
126,660

 
571,829

 
(47,093
)
 
651,396

Operating expense:
 
 
 
 
 
 
 
 
 
 
Direct cost and reimbursable expense
 
151

 
84,333

 
438,904

 

 
523,388

Intercompany expenses
 

 

 
47,093

 
(47,093
)
 

Prepetition restructuring charges
 
12,449

 

 
1,027

 

 
13,476

Depreciation and amortization
 
6,329

 
35,631

 
20,682

 

 
62,642

General and administrative
 
25,678

 
7,879

 
39,033

 

 
72,590

 
 
44,607

 
127,843

 
546,739

 
(47,093
)
 
672,096

 
 
 
 
 
 
 
 
 
 
 
Loss on impairment
 

 
(42,022
)
 
(20,079
)
 

 
(62,101
)
Loss on disposal of assets
 

 
(853
)
 
(3,164
)
 

 
(4,017
)
Earnings from unconsolidated affiliates, net of losses
 
(204,089
)
 

 
2,980

 
204,089

 
2,980

Operating income (loss)
 
(248,696
)
 
(44,058
)
 
4,827

 
204,089

 
(83,838
)
Interest expense, net
 
(24,467
)
 
(11,241
)
 
(13,058
)
 

 
(48,766
)
Reorganization items, net
 
(106,434
)
 
(54,603
)
 
(9,262
)
 

 
(170,299
)
Loss on sale of subsidiaries
 

 

 
(55,883
)
 

 
(55,883
)
Other income (expense), net
 
363

 
1,259

 
(12,132
)
 

 
(10,510
)
 
 
 
 
 
 
 
 
 
 
 
Loss before (provision) benefit for income taxes
 
(379,234
)
 
(108,643
)
 
(85,508
)
 
204,089

 
(369,296
)
Allocation of consolidated income taxes
 
47,040

 
(2,689
)
 
(7,062
)
 

 
37,289

Net loss
 
(332,194
)
 
(111,332
)
 
(92,570
)
 
204,089

 
(332,007
)
Net income attributable to noncontrolling interests
 
(26
)
 

 
(187
)
 

 
(213
)
Net loss attributable to Bristow Group
 
$
(332,220
)
 
$
(111,332
)
 
$
(92,757
)
 
$
204,089

 
$
(332,220
)
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

 
$
644,988

 
$

 
$
716,011

Intercompany revenue
 

 
54,013

 

 
(54,013
)
 

 
 
90

 
124,946

 
644,988

 
(54,013
)
 
716,011

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 from unconsolidated affiliates, net of losses
 
(130,809
)
 

 
(86
)
 
130,809

 
(86
)
Operating income (loss)
 
(178,721
)
 
(91,741
)
 
6,651

 
130,809

 
(133,002
)
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
 
(210,480
)
 
(103,169
)
 
(10,893
)
 
130,809

 
(193,733
)
Allocation of consolidated income taxes
 
34,697

 
(283
)
 
(15,908
)
 

 
18,506

Net loss
 
(175,783
)
 
(103,452
)
 
(26,801
)
 
130,809

 
(175,227
)
Net income attributable to noncontrolling interests
 
(28
)
 

 
(556
)
 

 
(584
)
Net loss attributable to Bristow Group
 
$
(175,811
)
 
$
(103,452
)
 
$
(27,357
)
 
$
130,809

 
$
(175,811
)
Condensed Balance Sheet [Table Text Block]
BRISTOW GROUP INC. (DEBTOR-IN-POSSESSION)
Condensed Combined Balance Sheet
 
 
September 30,
 2019
 
 
(Unaudited)
 
 
(In thousands)
ASSETS
 
 
Current assets:
 
 
Cash and cash equivalents
 
$
39,093

Restricted cash
 
34

Accounts receivable
 
43,395

Intercompany accounts receivable
 
458,008

Inventories
 
35,658

Prepaid expenses and other current assets
 
11,250

Total current assets
 
587,438

Intercompany investment
 
633,197

Intercompany notes receivable
 
377,069

Property and equipment, net
 
1,323,267

Right-of-use assets
 
298,860

Other assets
 
7,998

Total assets
 
$
3,227,829

 
 
 
LIABILITIES AND STOCKHOLDERS’ INVESTMENT
 
 
Current liabilities:
 
 
Accounts payable
 
$
37,586

Intercompany accounts payable
 
109,756

Accrued liabilities
 
56,618

Accrued interest
 
2,418

Intercompany accrued interest
 
4,365

Current portion of operating lease liabilities
 
84,927

Short-term borrowings and current maturities of long-term debt
 
831,778

Total current liabilities
 
1,127,448

Long-term debt, less current maturities
 
34,161

Intercompany notes payable
 
77,422

Other liabilities and deferred credits
 
4,599

Deferred taxes
 
40,287

Long-term operating lease liabilities
 
217,421

Total liabilities not subject to compromise
 
1,501,338

Liabilities subject to compromise
 
624,867

Total liabilities
 
2,126,205

Stockholders’ investment:
 
 
Total Bristow Group stockholders’ investment
 
1,100,351

Noncontrolling interests
 
1,273

Total stockholders’ investment
 
1,101,624

Total liabilities and stockholders’ investment
 
$
3,227,829

Supplemental Condensed Consolidating Balance Sheet
As of September 30, 2019
 
 
Parent
Company
Only
 
Guarantor
Subsidiaries
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
 
 
 
 
 
 
 
 
 
 
 
 
 
(In thousands)
 
 
ASSETS
Current assets:
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
 
$
31,268

 
$
7,516

 
$
115,101

 
$

 
$
153,885

Restricted cash
 
33

 

 
38,877

 

 
38,910

Accounts receivable
 
644,260

 
679,196

 
274,543

 
(1,369,206
)
 
228,793

Inventories
 

 
35,658

 
77,856

 

 
113,514

Assets held for sale
 

 

 

 

 

Prepaid expenses and other current assets
 
8,261

 
1,686

 
32,598

 

 
42,545

Total current assets
 
683,822

 
724,056

 
538,975

 
(1,369,206
)
 
577,647

Intercompany investment
 
1,625,547

 
97,435

 
124,463

 
(1,847,445
)
 

Investment in unconsolidated affiliates
 

 

 
109,986

 

 
109,986

Intercompany notes receivable
 
135,327

 
11,151

 
115,008

 
(261,486
)
 

Property and equipment—at cost:
 
 
 
 
 
 
 
 
 
 
Land and buildings
 
4,806

 
58,204

 
175,198

 

 
238,208

Aircraft and equipment
 
158,399

 
1,277,861

 
967,466

 

 
2,403,726

 
 
163,205

 
1,336,065

 
1,142,664

 

 
2,641,934

Less: Accumulated depreciation and amortization
 
(53,874
)
 
(497,745
)
 
(412,015
)
 

 
(963,634
)
 
 
109,331

 
838,320

 
730,649

 

 
1,678,300

Right-of-use assets
 
23

 
54,625

 
317,156

 
(40,061
)
 
331,743

Goodwill
 

 

 

 

 

Other assets
 
3,859

 
4,047

 
86,993

 

 
94,899

Total assets
 
$
2,557,909

 
$
1,729,634

 
$
2,023,230

 
$
(3,518,198
)
 
$
2,792,575

 
 
 
 
 
 
 
 
 
 
 
LIABILITIES AND STOCKHOLDERS’ INVESTMENT
Current liabilities:
 
 
 
 
 
 
 
 
 
 
Accounts payable
 
$
510,741

 
$
597,832

 
$
340,339

 
$
(1,355,479
)
 
$
93,433

Accrued liabilities
 
72,863

 
22,702

 
189,593

 
(52,569
)
 
232,589

Short-term borrowings and current maturities of long-term debt
 
380,902

 
253,294

 
312,845

 

 
947,041

Total current liabilities
 
964,506

 
873,828

 
842,777

 
(1,408,048
)
 
1,273,063

Long-term debt, less current maturities
 
34,161

 

 
41,450

 

 
75,611

Intercompany notes payable
 
88,573

 
143,233

 
29,680

 
(261,486
)
 

Accrued pension liabilities
 

 

 
18,706

 

 
18,706

Other liabilities and deferred credits
 
4,548

 

 
3,357

 

 
7,905

Deferred taxes
 
14,224

 
26,065

 
19,573

 

 
59,862

Long-term operating lease liabilities
 

 
32,060

 
220,366

 
(1,027
)
 
251,399

Liabilities subject to compromise
 
569,804

 
35,000

 
20,063

 

 
624,867

Stockholders’ investment:
 
 
 
 
 
 
 
 
 
 
Common stock
 
386

 
4,996

 
131,317

 
(136,313
)
 
386

Additional paid-in-capital
 
863,546

 
29,387

 
284,097

 
(313,484
)
 
863,546

Retained earnings
 
123,378

 
585,065

 
157,576

 
(742,641
)
 
123,378

Accumulated other comprehensive income (loss)
 
78,306

 

 
255,091

 
(655,199
)
 
(321,802
)
Treasury shares
 
(184,796
)
 

 

 

 
(184,796
)
Total Bristow Group stockholders’ investment
 
880,820

 
619,448

 
828,081

 
(1,847,637
)
 
480,712

Noncontrolling interests
 
1,273

 

 
(823
)
 

 
450

Total stockholders’ investment
 
882,093

 
619,448

 
827,258

 
(1,847,637
)
 
481,162

Total liabilities and stockholders’ investment
 
$
2,557,909

 
$
1,729,634

 
$
2,023,230

 
$
(3,518,198
)
 
$
2,792,575

Supplemental Condensed Consolidating Balance Sheet
As of March 31, 2019
 
 
Parent
Company
Only
 
Guarantor
Subsidiaries
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
 
 
 
 
 
 
 
 
 
 
 
 
 
(In thousands)
ASSETS
Current assets:
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
 
$
90,586

 
$
3,205

 
$
84,264

 
$

 
$
178,055

Accounts receivable
 
535,502

 
583,912

 
287,822

 
(1,190,445
)
 
216,791

Inventories
 

 
35,331

 
85,977

 

 
121,308

Assets held for sale
 

 
5,541

 
(191
)
 

 
5,350

Prepaid expenses and other current assets
 
3,734

 
1,001

 
39,274

 

 
44,009

Total current assets
 
629,822

 
628,990

 
497,146

 
(1,190,445
)
 
565,513

Intercompany investment
 
1,829,271

 
97,435

 
131,608

 
(2,058,314
)
 

Investment in unconsolidated affiliates
 

 

 
118,203

 

 
118,203

Intercompany notes receivable
 
140,659

 
11,151

 
128,410

 
(280,220
)
 

Property and equipment—at cost:
 
 
 
 
 
 
 
 
 
 
Land and buildings
 
4,807

 
58,204

 
181,262

 

 
244,273

Aircraft and equipment
 
155,667

 
1,312,115

 
1,029,840

 

 
2,497,622

 
 
160,474

 
1,370,319

 
1,211,102

 

 
2,741,895

Less: Accumulated depreciation and amortization
 
(47,546
)
 
(419,983
)
 
(440,186
)
 

 
(907,715
)
 
 
112,928

 
950,336

 
770,916

 

 
1,834,180

Goodwill
 

 

 
18,436

 

 
18,436

Other assets
 
3,563

 
3,410

 
109,294

 

 
116,267

Total assets
 
$
2,716,243

 
$
1,691,322

 
$
1,774,013

 
$
(3,528,979
)
 
$
2,652,599

 
 
 
 
 
 
 
 
 
 
 
LIABILITIES AND STOCKHOLDERS’ INVESTMENT
Current liabilities:
 
 
 
 
 
 
 
 
 
 
Accounts payable
 
$
441,485

 
$
510,911

 
$
327,447

 
$
(1,180,270
)
 
$
99,573

Accrued liabilities
 
51,071

 
(9,807
)
 
119,433

 
(10,049
)
 
150,648

Short-term borrowings and current maturities of long-term debt
 
849,524

 
268,559

 
300,547

 

 
1,418,630

Total current liabilities
 
1,342,080

 
769,663

 
747,427

 
(1,190,319
)
 
1,668,851

Long-term debt, less current maturities
 

 

 
8,223

 

 
8,223

Intercompany notes payable
 
91,664

 
155,643

 
32,913

 
(280,220
)
 

Accrued pension liabilities
 

 

 
25,726

 

 
25,726

Other liabilities and deferred credits
 
10,430

 
8,613

 
7,186

 

 
26,229

Deferred taxes
 
59,302

 
26,268

 
25,633

 

 
111,203

Stockholders’ investment:
 
 
 
 
 
 
 
 
 
 
Common stock
 
386

 
4,996

 
131,317

 
(136,313
)
 
386

Additional paid-in-capital
 
862,020

 
29,387

 
284,048

 
(313,435
)
 
862,020

Retained earnings
 
455,598

 
696,397

 
250,333

 
(946,730
)
 
455,598

Accumulated other comprehensive income (loss)
 
78,306

 
355

 
255,312

 
(661,962
)
 
(327,989
)
Treasury shares
 
(184,796
)
 

 

 

 
(184,796
)
Total Bristow Group stockholders’ investment
 
1,211,514

 
731,135

 
921,010

 
(2,058,440
)
 
805,219

Noncontrolling interests
 
1,253

 

 
5,895

 

 
7,148

Total stockholders’ investment
 
1,212,767

 
731,135

 
926,905

 
(2,058,440
)
 
812,367

Total liabilities and stockholders’ investment
 
$
2,716,243

 
$
1,691,322

 
$
1,774,013

 
$
(3,528,979
)
 
$
2,652,599

Condensed Cash Flow Statement [Table Text Block]
BRISTOW GROUP INC. (DEBTOR-IN-POSSESSION)
Condensed Combined Statement of Cash Flows
  
 
Six Months Ended
 September 30, 2019
 
 
 
 
 
(Unaudited)
 
 
(In thousands)
Cash flows from operating activities:
 
 
Net loss
 
$
(253,827
)
Adjustments to reconcile net loss to net cash used in operating activities:
 
 
Depreciation and amortization
 
62,608

Deferred income taxes
 
(45,283
)
Loss on impairment
 
42,022

Discount amortization on long-term debt
 
1,520

Write-off of deferred financing fees
 
2,726

Reorganization items, net
 
109,259

Gain on disposal of assets
 
(4,200
)
Deferral of lease payments
 
285

Stock-based compensation
 
1,159

Increase (decrease) in cash resulting from changes in:
 
 
Accounts receivable
 
2,156

Inventories
 
(328
)
Prepaid expenses and other assets
 
(4,507
)
Accounts payable
 
24,130

Accrued liabilities
 
39,415

Other liabilities and deferred credits, including intercompany activity
 
(80,800
)
Net cash used in operating activities
 
(103,665
)
Cash flows from investing activities:
 
 
Capital expenditures
 
(4,472
)
Proceeds from asset dispositions
 
4,935

Net cash provided by investing activities
 
463

Cash flows from financing activities:
 
 
Proceeds from borrowings
 
150,000

Debt issuance costs
 
(6,696
)
Repayment of debt
 
(94,573
)
Partial prepayment of put/call obligation
 
(37
)
Net cash provided by financing activities
 
48,694

Effect of exchange rate changes on cash, cash equivalents and restricted cash
 
(549
)
Net decrease in cash, cash equivalents and restricted cash
 
(55,057
)
Cash and cash equivalents at beginning of period
 
94,184

Cash, cash equivalents and restricted cash at end of period
 
$
39,127

Supplemental Condensed Consolidating Statement of Cash Flows
Six Months Ended September 30, 2019
 
 
Parent
Company
Only
 
Guarantor
Subsidiaries
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
 
 
 
 
 
 
 
 
 
 
 
 
 
(In thousands)
Net cash provided by (used in) operating activities
 
$
(66,491
)
 
$
17,907

 
$
(8,581
)
 
$

 
$
(57,165
)
Cash flows from investing activities:
 
 
 
 
 
 
 
 
 
 
Capital expenditures
 
(2,732
)
 
(2,844
)
 
(20,374
)
 

 
(25,950
)
Proceeds from asset dispositions
 

 
4,935

 
68

 

 
5,003

Cash transferred in sale of subsidiaries, net of cash received
 

 

 
(22,458
)
 

 
(22,458
)
Net cash provided by (used in) investing activities
 
(2,732
)
 
2,091

 
(42,764
)
 

 
(43,405
)
Cash flows from financing activities:
 
 
 
 
 
 
 
 
 
 
Proceeds from borrowings
 
150,000

 

 
75,585

 

 
225,585

Debt issuance costs
 
(6,695
)
 

 
(7,435
)
 

 
(14,130
)
Repayment of debt
 
(74,818
)
 
(10,347
)
 
(14,063
)
 

 
(99,228
)
Increases (decreases) in cash related to intercompany advances and debt
 
(58,549
)
 
(5,340
)
 
63,889

 

 

Partial prepayment of put/call obligation
 

 

 
(1,323
)
 

 
(1,323
)
Net cash provided by (used in) financing activities
 
9,938

 
(15,687
)
 
116,653

 

 
110,904

Effect of exchange rate changes on cash, cash equivalents and restricted cash
 

 

 
4,406

 

 
4,406

Net increase (decrease) in cash, cash equivalents and restricted cash
 
(59,285
)
 
4,311

 
69,714

 

 
14,740

Cash, cash equivalents and restricted cash
 at beginning of period
 
90,586

 
3,205

 
84,264

 

 
178,055

Cash, cash equivalents and restricted cash
 at end of period
 
$
31,301

 
$
7,516

 
$
153,978

 
$

 
$
192,795

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 received (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
)
Repurchases for tax withholdings on vesting of equity awards
 
(1,504
)
 

 

 

 
(1,504
)
Issuance of Common Stock
 
2,830

 

 

 

 
2,830

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, cash equivalents and restricted cash
 
(41,101
)
 
(7,773
)
 
(23,558
)
 

 
(72,432
)
Cash, cash equivalents and restricted cash
 at beginning of period
 
277,176

 
8,904

 
94,143

 

 
380,223

Cash, cash equivalents and restricted cash
 at end of period
 
$
236,075

 
$
1,131

 
$
70,585

 
$

 
$
307,791