Bristow Group Inc. Transition report pursuant to Rule 13a-10 or 15d-10

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

LEASES (Tables)

LEASES (Tables)

9 Months Ended

Dec. 31, 2022

Operating leases as of the periods reflected in the table below were as follows (in thousands):


	December 31, 2022		March 31, 2022
Operating lease right-of-use assets	$	240,977	$	193,505

Current portion of operating lease liabilities	76,261		69,866
Operating lease liabilities	165,955		125,441
Total operating lease liabilities	$	242,216	$	195,307

Lease Cost Terms and Rent Expense

Operating leases for the periods reflected in the table below were as follows (in thousands, except years and percentages):


	Nine Months Ended December 31, 2022			Twelve Months Ended March 31, 2022			Twelve Months Ended March 31, 2021
Cash paid for operating leases	$	69,669		$	100,339		$	112,590
ROU assets obtained in exchange for lease obligations	$	107,034		$	34,185		$	21,923
Weighted average remaining lease term	5 years			4 years			4 years
Weighted average discount rate	6.09		%	6.13		%	6.23		%

Rent expense for the periods reflected in the table below were as follows (in thousands):


	Nine Months Ended December 31, 2022		Twelve Months Ended March 31, 2022		Twelve Months Ended March 31, 2021
Rent expense under all operating leases	$	74,378	$	106,180	$	120,309
Rent expense under operating leases for aircraft	$	57,976	$	83,788	$	97,919

Lessee, Operating Lease, Liability, Maturity

As of December 31, 2022, aggregate future payments under all non-cancelable operating leases that have initial or remaining terms in excess of one year, including leases for aircraft, are as follows (in thousands):


	Aircraft		Other		Total
Twelve months ended December 31,
2023	$	74,976	$	12,790	$	87,766
2024	59,656		9,202		68,858
2025	35,869		7,717		43,586
2026	21,230		6,125		27,355
2027	16,452		4,023		20,475
Thereafter	19,245		12,015		31,260
	$	227,428	$	51,872	$	279,300