Current report filing

FRESH-START ACCOUNTING, Consolidated Balance Sheet (Details)

v3.20.1
FRESH-START ACCOUNTING, Consolidated Balance Sheet (Details) - USD ($)
$ / shares in Units, $ in Thousands
Mar. 31, 2020
Oct. 31, 2019
Current assets:    
Cash and cash equivalents   $ 139,278
Restricted cash   23,761
Accounts receivable from non-affiliates   201,950
Accounts receivable from affiliates   15,926
Inventories   116,926
Prepaid expenses and other current assets   47,283
Total current assets   545,124
Investment in unconsolidated affiliates   112,932
Property and equipment - at cost:    
Land and buildings   238,967
Aircraft and equipment   2,432,045
Total property and equipment, at cost   2,671,012
Less - Accumulated depreciation and amortization   (970,731)
Total property and equipment, net   1,700,281
Right-of-use assets   325,764
Other assets   91,179
Total assets   2,775,280
Current liabilities:    
Accounts payable   74,170
Accrued wages, benefits and related taxes   40,657
Income taxes payable   2,988
Other accrued taxes   8,223
Deferred revenue   9,187
Accrued maintenance and repairs   31,303
Accrued interest   21,213
Current portion of operating lease liabilities   83,008
Other accrued liabilities   50,070
Short-term borrowings and current maturities of long-term debt   955,009
Total current liabilities   1,275,828
Long-term debt, less current maturities   75,167
Accrued pension liabilities   18,623
Preferred stock embedded derivative   0
Other liabilities and deferred credits   7,701
Deferred taxes   54,009
Long-term operating lease liabilities   244,566
Total liabilities not subject to compromise   1,675,894
Liabilities subject to compromise   624,867
Total liabilities   2,300,761
Commitments and contingencies (Note 11)  
Mezzanine equity:    
Preferred stock   0
Stockholders' investment:    
Predecessor common stock, $.01 par value   386
Predecessor additional paid-in capital   920,761
Predecessor retained earnings   52,136
Predecessor accumulated other comprehensive loss   (314,439)
Predecessor Treasury shares   (184,796)
Successor Common stock   1
Successor Additional paid-in capital   294,670
Total Bristow Group stockholders' investment   474,048
Noncontrolling interests   471
Total stockholders' investment   474,519
Total liabilities, mezzanine equity and stockholders' investment   $ 2,775,280
Common stock, par value (in dollars per share)   $ 0.01
Current assets:    
Cash and cash equivalents   $ 0
Restricted cash   0
Accounts receivable from non-affiliates   0
Accounts receivable from affiliates   (1,298)
Inventories   (35,766)
Prepaid expenses and other current assets   (13,415)
Total current assets   (50,479)
Investment in unconsolidated affiliates   7,039
Property and equipment - at cost:    
Land and buildings   (74,225)
Aircraft and equipment   (1,665,136)
Total property and equipment, at cost   (1,739,361)
Less - Accumulated depreciation and amortization   970,731
Total property and equipment, net   (768,630)
Right-of-use assets   3,263
Other assets   70,897
Total assets   (737,910)
Current liabilities:    
Accounts payable   (2,377)
Accrued wages, benefits and related taxes   0
Income taxes payable   0
Other accrued taxes   0
Deferred revenue   (321)
Accrued maintenance and repairs   0
Accrued interest   0
Current portion of operating lease liabilities   (8,497)
Other accrued liabilities   (718)
Short-term borrowings and current maturities of long-term debt   8,627
Total current liabilities   (3,286)
Long-term debt, less current maturities $ (57,700) (51,186)
Accrued pension liabilities   14,891
Preferred stock embedded derivative   0
Other liabilities and deferred credits   (3,110)
Deferred taxes   (104,025)
Long-term operating lease liabilities   9,139
Total liabilities not subject to compromise   (137,577)
Liabilities subject to compromise   0
Total liabilities   (137,577)
Commitments and contingencies (Note 11)  
Mezzanine equity:    
Preferred stock   0
Stockholders' investment:    
Predecessor common stock, $.01 par value   0
Predecessor additional paid-in capital   0
Predecessor retained earnings   (576,823)
Predecessor accumulated other comprehensive loss   (22,934)
Predecessor Treasury shares   0
Total Bristow Group stockholders' investment   (599,757)
Noncontrolling interests   (576)
Total stockholders' investment   (600,333)
Total liabilities, mezzanine equity and stockholders' investment   (737,910)
Current assets:    
Cash and cash equivalents   202,079
Restricted cash   48,447
Accounts receivable from non-affiliates   198,916
Accounts receivable from affiliates   14,628
Inventories   81,160
Prepaid expenses and other current assets   30,546
Total current assets   575,776
Investment in unconsolidated affiliates   119,971
Property and equipment - at cost:    
Land and buildings   164,742
Aircraft and equipment   766,909
Total property and equipment, at cost   931,651
Less - Accumulated depreciation and amortization   0
Total property and equipment, net   931,651
Right-of-use assets   329,027
Other assets   162,289
Total assets   2,118,714
Current liabilities:    
Accounts payable   82,241
Accrued wages, benefits and related taxes   40,657
Income taxes payable   2,988
Other accrued taxes   8,223
Deferred revenue   8,866
Accrued maintenance and repairs   31,303
Accrued interest   1,102
Current portion of operating lease liabilities   74,511
Other accrued liabilities   33,935
Short-term borrowings and current maturities of long-term debt   37,080
Total current liabilities   320,906
Long-term debt, less current maturities   549,282
Accrued pension liabilities   33,514
Preferred stock embedded derivative   470,322
Other liabilities and deferred credits   4,591
Deferred taxes   43,229
Long-term operating lease liabilities   253,705
Total liabilities not subject to compromise   1,675,549
Liabilities subject to compromise   0
Total liabilities   1,675,549
Commitments and contingencies (Note 11)  
Mezzanine equity:    
Preferred stock   148,599
Stockholders' investment:    
Successor Common stock   1
Successor Additional paid-in capital   294,670
Total Bristow Group stockholders' investment   294,671
Noncontrolling interests   (105)
Total stockholders' investment   294,566
Total liabilities, mezzanine equity and stockholders' investment   2,118,714
Reorganization Adjustments    
Current assets:    
Cash and cash equivalents   62,801
Restricted cash   24,686
Accounts receivable from non-affiliates   (3,034)
Accounts receivable from affiliates   0
Inventories   0
Prepaid expenses and other current assets   (3,322)
Total current assets   81,131
Investment in unconsolidated affiliates   0
Property and equipment - at cost:    
Land and buildings   0
Aircraft and equipment   0
Total property and equipment, at cost   0
Less - Accumulated depreciation and amortization   0
Total property and equipment, net   0
Right-of-use assets   0
Other assets   213
Total assets   81,344
Current liabilities:    
Accounts payable   10,448
Accrued wages, benefits and related taxes   0
Income taxes payable   0
Other accrued taxes   0
Deferred revenue   0
Accrued maintenance and repairs   0
Accrued interest   (20,111)
Current portion of operating lease liabilities   0
Other accrued liabilities   (15,417)
Short-term borrowings and current maturities of long-term debt   (926,556)
Total current liabilities   (951,636)
Long-term debt, less current maturities   525,301
Accrued pension liabilities   0
Preferred stock embedded derivative   470,322
Other liabilities and deferred credits   0
Deferred taxes   93,245
Long-term operating lease liabilities   0
Total liabilities not subject to compromise   137,232
Liabilities subject to compromise   (624,867)
Total liabilities   (487,635)
Commitments and contingencies (Note 11)  
Mezzanine equity:    
Preferred stock   148,599
Stockholders' investment:    
Predecessor common stock, $.01 par value   (386)
Predecessor additional paid-in capital   (920,761)
Predecessor retained earnings   524,687
Predecessor accumulated other comprehensive loss   337,373
Predecessor Treasury shares   184,796
Successor Common stock   1
Successor Additional paid-in capital   294,670
Total Bristow Group stockholders' investment   420,380
Noncontrolling interests   0
Total stockholders' investment   420,380
Total liabilities, mezzanine equity and stockholders' investment   $ 81,344
Common stock, par value (in dollars per share)   $ 0.01
Stockholders' investment:    
Successor Common stock   $ 1
Successor Additional paid-in capital   $ 294,670