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)

Supplemental Condensed Consolidating Balance Sheet
As of June 30, 2017
 
 
Parent
Company
Only
 
Guarantor
Subsidiaries
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
 
 
 
 
 
 
 
 
 
 
 
 
 
(In thousands)
 
 
ASSETS
Current assets:
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
 
$
5,386

 
$
1,187

 
$
72,306

 
$

 
$
78,879

Accounts receivable
 
133,432

 
336,915

 
291,635

 
(530,267
)
 
231,715

Inventories
 

 
33,833

 
96,646

 

 
130,479

Assets held for sale
 

 
28,601

 
5,984

 

 
34,585

Prepaid expenses and other current assets
 
2,097

 
6,076

 
41,901

 
(6,929
)
 
43,145

Total current assets
 
140,915

 
406,612

 
508,472

 
(537,196
)
 
518,803

Intercompany investment
 
2,486,473

 
104,435

 
131,194

 
(2,722,102
)
 

Investment in unconsolidated affiliates
 

 

 
205,174

 

 
205,174

Intercompany notes receivable
 
271,499

 
36,358

 
26,265

 
(334,122
)
 

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

 
62,114

 
168,350

 

 
235,270

Aircraft and equipment
 
155,041

 
1,212,349

 
1,238,588

 

 
2,605,978

 
 
159,847

 
1,274,463

 
1,406,938

 

 
2,841,248

Less: Accumulated depreciation and amortization
 
(32,013
)
 
(270,749
)
 
(327,461
)
 

 
(630,223
)
 
 
127,834

 
1,003,714

 
1,079,477

 

 
2,211,025

Goodwill
 

 

 
19,907

 

 
19,907

Other assets
 
10,533

 
2,242

 
103,146

 

 
115,921

Total assets
 
$
3,037,254

 
$
1,553,361

 
$
2,073,635

 
$
(3,593,420
)
 
$
3,070,830

 
 
 
 
 
 
 
 
 
 
 
LIABILITIES, REDEEMABLE NONCONTROLLING INTEREST AND STOCKHOLDERS’ INVESTMENT
Current liabilities:
 
 
 
 
 
 
 
 
 
 
Accounts payable
 
$
292,663

 
$
136,609

 
$
178,101

 
$
(510,875
)
 
$
96,498

Accrued liabilities
 
53,816

 
11,141

 
139,230

 
(24,690
)
 
179,497

Current deferred taxes
 
457

 
1,585

 
(2,042
)
 

 

Short-term borrowings and current maturities of long-term debt
 
81,312

 
17,685

 
18,820

 

 
117,817

Total current liabilities
 
428,248

 
167,020

 
334,109

 
(535,565
)
 
393,812

Long-term debt, less current maturities
 
788,229

 
283,286

 
103,234

 

 
1,174,749

Intercompany notes payable
 
62,532

 
216,292

 
56,400

 
(335,224
)
 

Accrued pension liabilities
 

 

 
60,057

 

 
60,057

Other liabilities and deferred credits
 
7,771

 
6,679

 
11,184

 

 
25,634

Deferred taxes
 
107,289

 
42,512

 
9,638

 

 
159,439

Redeemable noncontrolling interest
 

 

 
6,349

 

 
6,349

Stockholders’ investment:
 
 
 
 
 
 
 
 
 
 
Common stock
 
380

 
20,028

 
131,317

 
(151,345
)
 
380

Additional paid-in-capital
 
813,857

 
29,387

 
284,048

 
(313,435
)
 
813,857

Retained earnings
 
934,166

 
787,431

 
803,028

 
(1,590,459
)
 
934,166

Accumulated other comprehensive loss
 
78,306

 
726

 
270,153

 
(667,392
)
 
(318,207
)
Treasury shares
 
(184,796
)
 

 

 

 
(184,796
)
Total Bristow Group stockholders’ investment
 
1,641,913

 
837,572

 
1,488,546

 
(2,722,631
)
 
1,245,400

Noncontrolling interests
 
1,272

 

 
4,118

 

 
5,390

Total stockholders’ investment
 
1,643,185

 
837,572

 
1,492,664

 
(2,722,631
)
 
1,250,790

Total liabilities, redeemable noncontrolling interest and stockholders’ investment
 
$
3,037,254

 
$
1,553,361

 
$
2,073,635

 
$
(3,593,420
)
 
$
3,070,830


32

 << Previous Page | Next Page >>