Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2021
Dec. 31, 2020
Mar. 31, 2021
Cash flows from operating activities:          
Net loss $ 164 $ (57,260) $ (11,338) $ (13,849)  
Adjustments to reconcile net loss to net cash provided by operating activities:          
Depreciation and amortization     67,249 68,325  
Deferred income taxes     (1,672) 8,312  
Loss from extinguishment of debt     124 844  
Bad debt expense     309 0  
Amortization of deferred financing fees     978 0  
Discount amortization on long-term debt     5,858 12,823  
Reorganization items, net     578 (1,984)  
Loss (gain) on disposal of assets (727) (1,951) (1,388) 1,000  
Loss on impairment 0 53,249 24,835 90,078  
Loss on sale of subsidiaries 0 0 2,002 0  
Gain on bargain purchase 0 0 0 (81,093)  
Change in fair value of preferred stock derivative liability 0 0 0 (15,416)  
Stock-based compensation     8,377 9,377  
Equity in earnings from unconsolidated affiliates less than dividends received     1,413 2,700  
Increase (decrease) in cash resulting from changes in:          
Accounts receivable     37,226 24,942  
Inventory, prepaid expenses and other assets     3,515 (3,060)  
Accounts payable, accrued expenses and other liabilities     (19,789) (42,930)  
Net cash provided by operating activities     118,277 60,069  
Cash flows from investing activities:          
Capital expenditures     (23,226) (11,232)  
Proceeds from asset dispositions 740 14,361 14,549 66,501  
Cash transferred in sale of subsidiaries, net of cash received     (851) 0  
Increase in cash from Era merger     0 120,236  
Net cash provided by (used in) investing activities     (9,528) 175,505  
Cash flows from financing activities:          
Debt issuance costs     (2,988) 0  
Repayment of debt and debt redemption premiums     (16,022) (126,231)  
Purchase of treasury shares     (40,582) (10,007)  
Old Bristow share repurchases     0 (4,807)  
Net cash used in financing activities     (59,592) (141,045)  
Effect of exchange rate changes on cash, cash equivalents and restricted cash     (2,774) 4,183  
Net increase in cash, cash equivalents and restricted cash     46,383 98,712  
Cash, cash equivalents and restricted cash at beginning of period     231,079 199,121 $ 199,121
Cash, cash equivalents and restricted cash at end of period $ 277,462 $ 297,833 277,462 297,833 $ 231,079
Cash paid during the period for:          
Interest     17,296 25,641  
Income taxes     $ 10,451 $ 13,029