Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2015
Dec. 31, 2014
Current assets:    
Cash and cash equivalents $ 17,002 $ 40,867
Receivables:    
Trade, net of allowance for doubtful accounts of $1,982 and $1,955 in 2015 and 2014, respectively 39,866 33,390
Other, net of allowance for doubtful accounts of $0 and $437 in 2015 and 2014, respectively 2,110 2,062
Inventories, net 25,808 26,869
Deferred income taxes 2,507 1,996
Prepaid expenses and other 3,847 2,661
Escrow deposits 6,762 0
Total current assets 97,902 107,845
Property and equipment 1,192,445 1,171,267
Accumulated depreciation (314,484) (308,141)
Net property and equipment 877,961 863,126
Equity investments and advances 30,945 31,753
Goodwill 1,823 352
Intangible assets 1,410 0
Other assets 14,547 14,098
Total assets 1,024,588 1,017,174
Current liabilities:    
Accounts payable and accrued expenses 12,026 15,120
Accrued wages and benefits 7,293 7,521
Accrued interest 813 949
Current portion of long-term debt 26,130 27,426
Derivative instruments 192 1,109
Accrued income taxes 7,613 267
Other current liabilities 3,556 3,162
Total current liabilities 57,623 55,554
Long-term debt 267,671 282,118
Deferred income taxes 218,802 217,027
Other liabilities 1,994 2,111
Total liabilities $ 546,090 $ 556,810
Commitments and contingencies    
Redeemable noncontrolling interest $ 5,195 $ 0
Era Group Inc. stockholders’ equity:    
Common stock, $0.01 par value, 60,000,000 shares authorized; 20,582,391 and 20,371,672 outstanding in 2015 and 2014, respectively, exclusive of treasury shares 206 204
Additional paid-in capital 431,233 429,109
Retained earnings 43,088 31,797
Treasury shares, at cost, 19,209 and 18,609 shares in 2015 and 2014, respectively (563) (551)
Accumulated other comprehensive income (loss), net of tax (44) 95
Total Era Group Inc. stockholders’ equity 473,920 460,654
Noncontrolling interest (617) (290)
Total equity 473,303 460,364
Total liabilities, redeemable noncontrolling interest and stockholders’ equity $ 1,024,588 $ 1,017,174