Print Page  |  Close Window

SEC Filings

10-Q
BRISTOW GROUP INC filed this Form 10-Q on 08/03/2017
Entire Document
 << Previous Page | Next Page >>
BRISTOW GROUP INC. AND SUBSIDIARIES
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
(Unaudited)

 
 
Three Months Ended 
 June 30,
 
 
2017
 
2016
Earnings from unconsolidated affiliates, net of losses – equity method investments:
 
 
 
 
Europe Caspian
 
$
30

 
$
51

Americas
 
(535
)
 
3,863

Corporate and other
 
(160
)
 
(84
)
Total earnings from unconsolidated affiliates, net of losses – equity method investments
 
$
(665
)
 
$
3,830

 
 
 
 
 
Consolidated operating income (loss) reconciliation:
 
 
 
 
Europe Caspian
 
$
4,407

 
$
13,030

Africa
 
10,048

 
1,571

Americas
 
(1,256
)
 
921

Asia Pacific
 
(12,530
)
 
(5,893
)
Corporate and other
 
(25,957
)
 
(25,847
)
Gain (loss) on disposal of assets
 
699

 
(10,017
)
Total consolidated operating loss
 
$
(24,589
)
 
$
(26,235
)
 
 
 
 
 
Depreciation and amortization:
 
 
 
 
Europe Caspian
 
$
11,822

 
$
11,189

Africa
 
3,076

 
5,453

Americas
 
6,999

 
11,381

Asia Pacific
 
5,810

 
4,236

Corporate and other
 
3,349

 
2,435

Total depreciation and amortization (1)
 
$
31,056

 
$
34,694

 
 
June 30, 
 2017
 
March 31,  
 2017
Identifiable assets:
 
 
 
 
Europe Caspian
 
$
1,041,670

 
$
1,091,536

Africa
 
425,614

 
325,719

Americas
 
881,049

 
809,071

Asia Pacific
 
343,278

 
433,614

Corporate and other (2)
 
379,219

 
453,907

Total identifiable assets
 
$
3,070,830

 
$
3,113,847

Investments in unconsolidated affiliates – equity method investments:
 
 
 
 
Europe Caspian
 
$
315

 
$
257

Americas
 
195,357

 
200,362

Corporate and other
 
3,216

 
3,257

Total investments in unconsolidated affiliates – equity method investments
 
$
198,888

 
$
203,876

_____________ 
(1) 
Includes accelerated depreciation expense of $6.9 million during the three months ended June 30, 2016 related to aircraft where management made the decision to exit these model types earlier than originally anticipated in our Europe Caspian, Americas and Africa regions of $0.2 million, $3.9 million and $2.8 million, respectively. For further details, see Note 1.
(2) 
Includes $112.2 million and $199.3 million of construction in progress within property and equipment on our condensed consolidated balance sheets as of June 30 and March 31, 2017, respectively, which primarily represents progress payments on aircraft to be delivered in future periods.



26

 << Previous Page | Next Page >>