Bristow Group Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

SEGMENT INFORMATION, MAJOR CUSTOMERS AND GEOGRAPHICAL DATA

SEGMENT INFORMATION, MAJOR CUSTOMERS AND GEOGRAPHICAL DATA

12 Months Ended

Dec. 31, 2017

SEGMENT INFORMATION, MAJOR CUSTOMERS AND GEOGRAPHICAL DATA

The Company has determined that its operations comprise a single segment. Helicopters are highly mobile and may be utilized in any of the Company’s service lines as business needs dictate.

For the year ended December 31, 2017, Anadarko Petroleum Corporation (“Anadarko”), Petrobras and the U.S. government accounted for 28%, 22% and 16%, respectively, of the Company’s operating revenues. For the year ended December 31, 2016, Anadarko, Petrobras and the U.S. government accounted for 24%, 20% and 16%, respectively, of the Company’s operating revenues. For the year ended December 31, 2015, Anadarko and the U.S. government accounted for 27% and 13%, respectively, of the Company’s operating revenues. For the years ended December 31, 2017, 2016 and 2015, approximately 34%, 31% and 21%, respectively, of the Company’s operating revenues were derived from foreign operations. The Company’s foreign revenues are primarily derived from oil and gas operations in Brazil, Colombia and Suriname as well as leasing activities.

The following represents the Company’s operating revenues by geographical region in which services are provided for the years ended December 31, 2017, 2016 and 2015 (in thousands):



	2017		2016		2015
Operating revenues:
United States	$	152,187	$	171,121	$	222,465
Latin America and the Caribbean	68,936		64,007		40,420
Europe	5,029		5,924		10,582
Asia	5,169		6,176		8,370
	$	231,321	$	247,228	$	281,837

The Company’s long-lived assets are primarily its property and equipment employed in various geographical regions of the world. The following represents the Company’s property and equipment, net of accumulated depreciation, based upon the assets’ physical locations as of December 31, 2017 and 2016 (in thousands):



	2017		2016
Property and equipment, net:
United States	$	533,800	$	578,900
Latin America and the Caribbean	120,152		147,828
Europe	6,697		76,575
Asia	13,265		18,506
	$	673,914	$	821,809

The Company’s Brazilian operations include 211 employees, representing approximately 28% of the Company’s total workforce, that are covered under collective bargaining agreements, none of which expire within the next year. Any disputes with its employees over the terms of the collective bargaining agreements could result in strikes or other work stoppages, higher labor costs or other conditions that may have a material adverse effect on the Company’s financial condition or results of operations.