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, 2018

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, 2018, Anadarko Petroleum Corporation (“Anadarko”), Petrobras and the U.S. government accounted for 31%, 23% and 15%, respectively, of the Company’s operating revenues. For the year ended December 31, 2017, 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 years ended December 31, 2018, 2017 and 2016, approximately 29%, 34% and 31%, 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, 2018, 2017 and 2016 (in thousands):



	2018		2017		2016
Revenues:
United States	$	157,267	$	152,187	$	171,121
Latin America and the Caribbean	58,037		68,936		64,007
Europe	608		5,029		5,924
Asia	5,764		5,169		6,176
	$	221,676	$	231,321	$	247,228

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, 2018 and 2017 (in thousands):



	2018		2017
Property and equipment, net:
United States	$	472,838	$	533,800
Latin America and the Caribbean	105,519		120,152
Europe	8,049		6,697
Asia	12,788		13,265
	$	599,194	$	673,914

The Company’s Brazilian operations include 194 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.