Transition report pursuant to Rule 13a-10 or 15d-10

SEGMENT AND GEOGRAPHIC AREA INFORMATION

v3.22.4
SEGMENT AND GEOGRAPHIC AREA INFORMATION
 9 Months Ended
Dec. 31, 2022
Segment Reporting [Abstract]  
SEGMENT AND GEOGRAPHIC AREA INFORMATION SEGMENT AND GEOGRAPHIC AREA INFORMATION
The Company conducts business in one segment: aviation services. The aviation services global 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 the Dutch Caribbean, the Falkland Islands, the Netherlands, Norway and the U.K. 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. The Africa region comprises all of the Company’s operations and affiliates on the African continent, including Nigeria.
The percentage of the Company’s operating revenues were derived from the following major customers for the periods reflected in the table below were as follows:
Nine Months Ended
December 31, 2022		 Twelve Months Ended
March 31, 2022		 Twelve Months Ended
March 31, 2021
Customer A 19.4  % 20.3  % 19.0  %
Customer B 9.0  % 11.1  % 10.0  %
Customer C 6.0  % 6.3  % 6.0  %
Total percentage of operating revenues 34.4  % 37.7  % 35.0  %
The following tables show region information reconciled to consolidated totals, and prepared on the same basis as the Company’s consolidated financial statements (in thousands):
Nine Months Ended
December 31, 2022		 Twelve Months Ended
March 31, 2022		 Twelve Months Ended
March 31, 2021
Region revenues from external customers:
Europe $ 492,981  $ 662,421  $ 656,769 
Americas 287,975  379,623  337,527 
Asia Pacific 64,217  72,035  76,644 
Africa 77,038  69,663  101,649 
Other 358  1,462  5,473 
Total region revenues $ 922,569  $ 1,185,204  $ 1,178,062 
Consolidated operating income (loss):
Europe $ 45,020  $ 62,082  $ 72,199 
Americas 46,208  71,571  (24,204)
Asia Pacific 2,809  (13,454) (1,047)
Africa (986) (27,848) (19,892)
Other (62,700) (92,515) (121,753)
Gain (loss) on disposal of assets (480) 1,347  (8,199)
Total consolidated operating income (loss) $ 29,871  $ 1,183  $ (102,896)
December 31, 2022 March 31, 2022
Identifiable assets:
Europe $ 1,012,291  $ 917,656 
Americas 484,410  500,219 
Asia Pacific 37,459  50,335 
Africa 84,528  92,582 
Other 193,313  263,487 
Total identifiable assets
 $ 1,812,001  $ 1,824,279 
The Company attributes revenue to various countries based on the location where services are actually performed. Long-lived assets consist primarily of helicopters and fixed wing aircraft and are attributed to various countries based on the physical location of the asset at the end of the periods reflected in the table below. Information by geographic area is as follows (in thousands):
Nine Months Ended
December 31, 2022		 Twelve Months Ended
March 31, 2022		 Twelve Months Ended
March 31, 2021
U.K. $ 305,862  $ 406,089  $ 406,850 
Norway 179,724  256,461  249,618 
U.S. 149,171  196,693  176,907 
Other 287,812  325,961  344,687 
Total revenues $ 922,569  $ 1,185,204  $ 1,178,062 
December 31, 2022 March 31, 2022
Long-lived assets:
U.K. $ 649,711  $ 493,310 
Norway 110,466  123,400 
U.S. 292,335  357,322 
Other 103,716  162,081 
Total long-lived assets $ 1,156,228  $ 1,136,113