Annual report pursuant to Section 13 and 15(d)

SEGMENT INFORMATION

v3.21.1
SEGMENT INFORMATION
 12 Months Ended
Mar. 31, 2021
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
The Company conducts business in one segment: aviation services. The aviation services global operations include four regions as follows: Europe Caspian, Africa, Americas and Asia Pacific. The Europe Caspian region comprises all of the Company’s operations and affiliates in Europe and Central Asia, including Norway and the U.K. The Africa region comprises all of the Company’s operations and affiliates on the African continent, including Nigeria. The Americas region comprises all of the Company’s operations and affiliates in North America and South America, including Brazil, Canada, Colombia, Guyana, Suriname, Trinidad and the U.S. Gulf of Mexico. The Asia Pacific region comprises all of the Company’s operations and affiliates in Australia and Southeast Asia. Prior to the sale of BHLL and Aviashelf in April and June 2019, respectively, the Company had operations in Sakhalin, Russia which is included in the Asia Pacific region. Prior to the sale of Eastern Airways in May 2019 (Predecessor), the Company had fixed wing operations in the Europe Caspian region.
The following tables show region information reconciled to consolidated totals, and prepared on the same basis as the Company’s consolidated financial statements (in thousands):
Fiscal Year Ended
March 31, 2021		 Five Months Ended
March 31, 2020		 Seven Months Ended
October 31, 2019		 Fiscal Year Ended
March 31, 2019
  Successor Predecessor
Region revenues from external customers:
Europe Caspian $ 656,769  $ 284,844  $ 428,660  $ 791,204 
Africa 101,649  70,305  111,896  164,835 
Americas 337,527  99,634  140,551  218,278 
Asia Pacific 76,644  30,605  75,722  193,510 
Corporate and other 5,473  375  394  1,835 
Total region revenues (1)
$ 1,178,062  $ 485,763  $ 757,223  $ 1,369,662 
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(1) The above table represents disaggregated revenues from contracts with customers except for the following (in thousands):
Fiscal Year Ended
March 31, 2021		 Five Months Ended
March 31, 2020		 Seven Months Ended
October 31, 2019		 Fiscal Year Ended
March 31, 2019
Successor Predecessor
Revenues not from contracts with customers:
Europe Caspian $ 1,224  $ 535  $ 726  $ 20,037 
Americas 33,919  14,971  18,627  25,380 
Asia Pacific 329  20  191  274 
Corporate and other 2,952  70  —  — 
Total region revenues not from contracts with customers $ 38,424  $ 15,596  $ 19,544  $ 45,691 
Fiscal Year Ended
March 31, 2021		 Five Months Ended
March 31, 2020		 Seven Months Ended
October 31, 2019		 Fiscal Year Ended
March 31, 2019
  Successor Predecessor
Earnings from unconsolidated affiliates, net of losses — equity method investments:
Europe Caspian $ (19) $ 248  $ 168  $ 161 
Americas 402  4,046  6,100  2,041 
Corporate and other —  —  321  (403)
Total earnings from unconsolidated affiliates, net of losses — equity method investments $ 383  $ 4,294  $ 6,589  $ 1,799 
Consolidated operating income (loss):
Europe Caspian $ 72,199  $ 19,334  $ 26,143  $ 12,874 
Africa (19,892) 10,154  17,255  13,499 
Americas (24,204) 9,762  13,391  3,530 
Asia Pacific (1,047) (6,921) (33,653) (23,645)
Corporate and other (121,753) (36,970) (101,559) (195,740)
Gain (loss) on disposal of assets (8,199) (451) (3,768) (27,843)
Total consolidated operating income (loss) $ (102,896) $ (5,092) $ (82,191) $ (217,325)
Depreciation and amortization:
Europe Caspian $ 32,241  $ 14,898  $ 28,155  $ 50,737 
Africa 4,994  2,274  10,829  16,113 
Americas 16,847  4,168  16,654  28,300 
Asia Pacific 7,831  3,836  7,463  16,735 
Corporate and other 8,165  3,062  7,763  13,014 
Total depreciation and amortization $ 70,078  $ 28,238  $ 70,864  $ 124,899 

Successor
March 31, 2021 March 31, 2020
Identifiable assets:
Europe Caspian $ 1,026,042  $ 1,096,022 
Africa 179,445  235,165 
Americas 579,169  319,015 
Asia Pacific 102,169  166,229 
Corporate and other (2)
105,445  128,830 
Total identifiable assets
 $ 1,992,270  $ 1,945,261 
Investments in unconsolidated affiliates - equity method investments:
Europe Caspian $ 679  $ 575 
Americas 3,851  76,483 
Total investments in unconsolidated affiliates - equity method investments $ 4,530  $ 77,058 
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(2)Includes $5.4 million and $7.8 million of construction in progress within property and equipment on the Company’s consolidated balance sheets as of March 31, 2021 (Successor) and March 31, 2020 (Successor), respectively, which primarily represents aircraft deposits, aircraft modifications and other miscellaneous equipment, tooling and building improvements currently in progress.