PROPERTY AND EQUIPMENT	12 Months Ended
Mar. 31, 2013
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT	Note 4 — PROPERTY AND EQUIPMENT AND ASSETS HELD FOR SALE Property and Equipment Fiscal Year 2013. During fiscal year 2013, we made capital expenditures of $571.4 million for aircraft and other equipment, adding a total of 19 owned aircraft to our fleet. We also completed the following transactions during fiscal year 2013: The disposal of 15 aircraft and other equipment for proceeds of $59.0 million, which together resulted in a net gain of $1.0 million included in gain (loss) on disposal of assets on the consolidated statement of income. We received proceeds of $255.8 million for the sale of eleven aircraft and entered into eleven separate agreements to lease these aircraft back. We received proceeds from insurance recoveries of $4.7 million, recording a gain of $2.8 million in gain (loss) on disposal of assets on our consolidated statement of income. We recorded impairment charges in gain (loss) on disposal of assets on our consolidated statement of income of $4.4 million to reduce the carrying value of 10 aircraft held for sale. We reclassified four large aircraft previously classified as held for sale to aircraft and equipment as they were returned to operational status as a result of the issues associated with the Eurocopter EC225 Super Puma helicopters discussed in Note 8 and reversed previously recorded impairment charges of $8.7 million. Fiscal year 2012. During fiscal year 2012, we made capital expenditures of $326.4 million for aircraft and other equipment, adding a total of 11 owned aircraft to our consolidated fleet. We also completed the following transactions during fiscal year 2012: The disposal of 29 aircraft and other equipment for proceeds of $58.2 million, which resulted in a net loss of $3.3 million included in gain (loss) on disposal of assets on our consolidated statement of income. We received proceeds of $147.8 million for the sale of seven aircraft and entered into seven separate agreements to lease these aircraft back. We transferred our interest in two aircraft previously included in construction in progress within property and equipment on our consolidated balance sheet in return for $23.4 million in progress payments previously paid on these aircraft. We received proceeds from insurance recoveries of $10.4 million, recording a loss of $1.1 included in gain (loss) on disposal of assets on our consolidated statement of income. We recorded an impairment charge of $2.7 million related to two medium aircraft our management intends to sell prior to the previously estimated life of the aircraft. This impairment charge is included in depreciation and amortization expense on the consolidated statement of income. We recorded an impairment charge of $2.7 million resulting from the abandonment of certain assets located in Creole, Louisiana and used in our U.S. Gulf of Mexico operations as we ceased operations from that location. This impairment charge is included in depreciation and amortization expense on the consolidated statement of income. We recorded a $1.1 million loss on the disposal of a fixed wing aircraft previously operating in Nigeria that was damaged in an incident upon landing. The aircraft was insured, but subject to self-insured retention and loss sensitive factors. The $1.1 million loss is included as a reduction in gain (loss) on disposal of assets on our consolidated statement of income. We transferred 21 aircraft to held for sale, reducing property and equipment by $30.2 million. The disposal of aircraft in fiscal year 2012 included the disposal of nine AS332L large aircraft for $28.9 million, realizing a loss of $5.6 million. See discussion of impairment of held for sale AS332Ls under “Assets Held for Sale” below. Fiscal Year 2011. During fiscal year 2011, we made capital expenditures of $145.5 million for aircraft and other equipment, adding a total of 8 owned aircraft to our fleet. We also completed the following transactions during fiscal year 2011: The disposal of 16 aircraft and other equipment for proceeds of $20.1 million, which together resulted in a net gain of $10.2 million included in gain (loss) on disposal of assets on our consolidated statements of income. We received proceeds from insurance recoveries of $7.3 million, of which a gain of $4.2 million has been recorded in fiscal year 2010. We recorded an impairment charge of $5.3 million, included in depreciation and amortization expense on our consolidated statements of income, related to expenditures made primarily in fiscal years 2010 and 2009 to upgrade an internal software system, as it was no longer probable that this system upgrade would be completed. These expenditures had been included in construction in progress. We received $4.0 million in deposit for aircraft and inventory held for sale. We transferred 14 aircraft to held for sale, reducing property and equipment by $27.4 million. Assets Held for Sale As of March 31, 2013 and 2012, respectively, we had 7 and 19 aircraft, totaling $8.3 million and $18.7 million classified as held for sale. We recorded impairment charges of $4.4 million, $26.3 million and $1.5 million to reduce the carrying value of 10, 19 and 3 aircraft held for sale during fiscal years 2013, 2012 and 2011, respectively. These impairment charges are included as a reduction in gain (loss) on disposal of assets in the consolidated statements of income. The impairment charges recorded in fiscal year 2012 include a charge of $23.3 million related to two AS332Ls included as part of the sale of the AS332Ls discussed under “Property and Equipment” above, but where title did not transfer prior to March 31, 2012, and five other AS332Ls held for sale. This impairment was triggered as a result of losses realized on the sale of similar aircraft in fiscal year 2012.

PROPERTY AND EQUIPMENT

12 Months Ended

Mar. 31, 2013

Property, Plant and Equipment [Abstract]

Note 4 — PROPERTY AND EQUIPMENT AND ASSETS HELD FOR SALE

Property and Equipment

Fiscal Year 2013. During fiscal year 2013, we made capital expenditures of $571.4 million for aircraft and other equipment, adding a total of 19 owned aircraft to our fleet. We also completed the following transactions during fiscal year 2013:

The disposal of 15 aircraft and other equipment for proceeds of $59.0 million, which together resulted in a net gain of $1.0 million included in gain (loss) on disposal of assets on the consolidated statement of income.
We received proceeds of $255.8 million for the sale of eleven aircraft and entered into eleven separate agreements to lease these aircraft back.
We received proceeds from insurance recoveries of $4.7 million, recording a gain of $2.8 million in gain (loss) on disposal of assets on our consolidated statement of income.
We recorded impairment charges in gain (loss) on disposal of assets on our consolidated statement of income of $4.4 million to reduce the carrying value of 10 aircraft held for sale.
We reclassified four large aircraft previously classified as held for sale to aircraft and equipment as they were returned to operational status as a result of the issues associated with the Eurocopter EC225 Super Puma helicopters discussed in Note 8 and reversed previously recorded impairment charges of $8.7 million.

Fiscal year 2012. During fiscal year 2012, we made capital expenditures of $326.4 million for aircraft and other equipment, adding a total of 11 owned aircraft to our consolidated fleet. We also completed the following transactions during fiscal year 2012:

The disposal of 29 aircraft and other equipment for proceeds of $58.2 million, which resulted in a net loss of $3.3 million included in gain (loss) on disposal of assets on our consolidated statement of income.
We received proceeds of $147.8 million for the sale of seven aircraft and entered into seven separate agreements to lease these aircraft back.
We transferred our interest in two aircraft previously included in construction in progress within property and equipment on our consolidated balance sheet in return for $23.4 million in progress payments previously paid on these aircraft.
We received proceeds from insurance recoveries of $10.4 million, recording a loss of $1.1 included in gain (loss) on disposal of assets on our consolidated statement of income.
We recorded an impairment charge of $2.7 million related to two medium aircraft our management intends to sell prior to the previously estimated life of the aircraft. This impairment charge is included in depreciation and amortization expense on the consolidated statement of income.
We recorded an impairment charge of $2.7 million resulting from the abandonment of certain assets located in Creole, Louisiana and used in our U.S. Gulf of Mexico operations as we ceased operations from that location. This impairment charge is included in depreciation and amortization expense on the consolidated statement of income.
We recorded a $1.1 million loss on the disposal of a fixed wing aircraft previously operating in Nigeria that was damaged in an incident upon landing. The aircraft was insured, but subject to self-insured retention and loss sensitive factors. The $1.1 million loss is included as a reduction in gain (loss) on disposal of assets on our consolidated statement of income.

We transferred 21 aircraft to held for sale, reducing property and equipment by $30.2 million.

The disposal of aircraft in fiscal year 2012 included the disposal of nine AS332L large aircraft for $28.9 million, realizing a loss of $5.6 million. See discussion of impairment of held for sale AS332Ls under “Assets Held for Sale” below.

Fiscal Year 2011. During fiscal year 2011, we made capital expenditures of $145.5 million for aircraft and other equipment, adding a total of 8 owned aircraft to our fleet. We also completed the following transactions during fiscal year 2011:

The disposal of 16 aircraft and other equipment for proceeds of $20.1 million, which together resulted in a net gain of $10.2 million included in gain (loss) on disposal of assets on our consolidated statements of income.
We received proceeds from insurance recoveries of $7.3 million, of which a gain of $4.2 million has been recorded in fiscal year 2010.
We recorded an impairment charge of $5.3 million, included in depreciation and amortization expense on our consolidated statements of income, related to expenditures made primarily in fiscal years 2010 and 2009 to upgrade an internal software system, as it was no longer probable that this system upgrade would be completed. These expenditures had been included in construction in progress.
We received $4.0 million in deposit for aircraft and inventory held for sale.
We transferred 14 aircraft to held for sale, reducing property and equipment by $27.4 million.

Assets Held for Sale

As of March 31, 2013 and 2012, respectively, we had 7 and 19 aircraft, totaling $8.3 million and $18.7 million classified as held for sale. We recorded impairment charges of $4.4 million, $26.3 million and $1.5 million to reduce the carrying value of 10, 19 and 3 aircraft held for sale during fiscal years 2013, 2012 and 2011, respectively. These impairment charges are included as a reduction in gain (loss) on disposal of assets in the consolidated statements of income.

The impairment charges recorded in fiscal year 2012 include a charge of $23.3 million related to two AS332Ls included as part of the sale of the AS332Ls discussed under “Property and Equipment” above, but where title did not transfer prior to March 31, 2012, and five other AS332Ls held for sale. This impairment was triggered as a result of losses realized on the sale of similar aircraft in fiscal year 2012.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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