Quarterly report pursuant to Section 13 or 15(d)

SEGMENT INFORMATION

v3.22.0.1
SEGMENT INFORMATION
 9 Months Ended
Dec. 31, 2021
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
The Company conducts business in one segment: aviation services. The aviation services operations include four regions as follows: Europe, Africa, the Americas and Asia Pacific. The Europe region comprises all of the Company’s operations and affiliates in Europe, including Norway and the U.K. The Africa region comprises all of the Company’s operations and affiliates on the African continent, including Nigeria. The Americas region comprises all of the Company’s operations and affiliates in North America and South America, including Brazil, Canada, Guyana, Suriname, Trinidad and the U.S. Gulf of Mexico. The Asia Pacific region comprises all of the Company’s operations and affiliates in Australia and Southeast Asia.
The following tables show region information reconciled to consolidated totals, and prepared on the same basis as the Company’s condensed consolidated financial statements (in thousands):
Three Months Ended December 31, Nine Months Ended December 31,
  2021 2020 2021 2020
Region revenue from external customers:
Europe $ 158,447  $ 159,415  $ 499,860  $ 491,328 
Americas 102,667  100,152  284,432  254,627 
Asia Pacific 16,768  21,350  58,949  54,720 
Africa 17,300  25,325  53,174  80,103 
Corporate and other 437  3,655  1,389  3,952 
Total region revenue (1)
$ 295,619  $ 309,897  $ 897,804  $ 884,730 
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(1) The above table represents disaggregated revenue from contracts with customers except for the following (in thousands):
Three Months Ended December 31, Nine Months Ended December 31,
2021 2020 2021 2020
Revenues not from contracts with customers:
Europe $ 587  $ 118  $ 2,126  $ 808 
Americas(1)
7,425  5,839  19,331  23,865 
Asia Pacific 142  21  316  178 
Corporate and other —  83  —  2,390 
Total region revenue $ 8,154  $ 6,061  $ 21,773  $ 27,241 
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(1) Includes revenues of approximately $0.1 million and $2.4 million from our unconsolidated affiliate in Canada, Cougar Helicopters Inc. (“Cougar”), previously included in Corporate and other for the three and nine months ended December 31, 2020, respectively.
Three Months Ended December 31, Nine Months Ended December 31,
  2021 2020 2021 2020
Earnings (losses) from unconsolidated affiliates, net – equity method investments:
Americas $ (860) $ 896  $ (1,413) $ 866 
Total earnings (losses) from unconsolidated affiliates, net – equity method investments $ (860) $ 896  $ (1,413) $ 866 
Consolidated operating income (loss):
Europe $ 11,109  $ 11,916  $ 47,625  $ 58,842 
Americas 19,829  (29,235) 53,784  (26,049)
Asia Pacific (4,093) 717  (5,851) 3,724 
Africa (4,435) (1,407) (19,407) (10,348)
Corporate and other (18,327) (22,530) (72,486) (100,291)
Gain on disposal of assets 727  1,951  1,388  (1,000)
Total consolidated operating income (loss) $ 4,810  $ (38,588) $ 5,053  $ (75,122)
Depreciation and amortization:
Europe $ 8,182  $ 7,904  $ 26,351  $ 24,196 
Americas 3,726  4,788  13,226  12,841 
Asia Pacific 1,719  1,948  5,548  6,002 
Africa 1,290  1,214  5,266  3,815 
Corporate and other 2,306  2,077  7,671  5,970 
Total depreciation and amortization $ 17,223  $ 17,931  $ 58,062  $ 52,824 
December 31, 2021 March 31, 2021
Identifiable assets:
Europe $ 988,579  $ 1,026,042 
Americas 548,015  579,169 
Asia Pacific 52,846  102,169 
Africa 132,614  179,445 
Corporate and other 142,735  105,445 
Total identifiable assets
 $ 1,864,789  $ 1,992,270 
Investments in unconsolidated affiliates – equity method:
Europe $ 25  $ 679 
Americas 1,571  3,851 
Total investments in unconsolidated affiliates – equity method $ 1,596  $ 4,530