Bristow Group Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES (Tables)

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES (Tables)

3 Months Ended

Jun. 30, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Foreign Exchange Contracts, Statement of Financial Position

The following table presents the balance sheet location and fair value of the portions of the Company’s derivative instruments that were designated as hedging instruments as of June 30, 2020 (Successor) (in thousands):



	Derivatives designated as hedging instruments		Derivatives not designated as hedging instruments		Gross amounts of recognized assets and liabilities		Gross amounts offset in the Balance Sheet		Net amounts of assets and liabilities presented in the Balance Sheet

Prepaid expenses and other current assets	$	2,445	$	—	$	2,445	$	—	$	2,445
Net	$	2,445	$	—	$	2,445	$	—	$	2,445

The following table presents the balance sheet location and fair value of the portions of Old Bristow’s derivative instruments that were designated as hedging instruments as of March 31, 2020 (Successor) (in thousands):



	Derivatives designated as hedging instruments		Derivatives not designated as hedging instruments		Gross amounts of recognized assets and liabilities		Gross amounts offset in the Balance Sheet		Net amounts of assets and liabilities presented in the Balance Sheet

Prepaid expenses and other current assets	$	2,747	$	—	$	2,747	$	—	$	2,747
Net	$	2,747	$	—	$	2,747	$	—	$	2,747

Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)

The following table presents the impact that derivative instruments designated as cash flow hedges had on the Company’s accumulated other comprehensive loss (net of tax) and the Company’s condensed consolidated statements of operations (in thousands):



	Successor
	Three Months Ended June 30, 2020			Financial statement location

Amount of loss recognized in accumulated other comprehensive loss	$	(427	)	Accumulated other comprehensive loss
Amount of loss reclassified from accumulated other comprehensive loss into earnings	$	454		Statement of operations