Transition report pursuant to Rule 13a-10 or 15d-10

EARNINGS PER SHARE (Tables)

v3.22.4
EARNINGS PER SHARE (Tables)
 9 Months Ended
Dec. 31, 2022
Earnings Per Share [Abstract]  
Schedule of earnings per share, basic and diluted The following table shows the computation of basic and diluted earnings per share (in thousands, except share and per share amounts):
Nine Months Ended
December 31, 2022		 Twelve Months Ended
March 31, 2022
Twelve Months Ended
March 31, 2021(1)
Income (loss):
Net income (loss) attributable to Bristow Group Inc.
 $ 13,528  $ (15,791) $ (56,094)
Less: Paid-in-Kind (“PIK”) dividends(1)
—  —  (12,039)
Plus: Deemed contribution from conversion of preferred stock(1)
—  —  144,986 
Income (loss) available to common stockholders – basic 13,528  (15,791) 76,853 
Plus: PIK dividends —  —  12,039 
Less: Changes in fair value of preferred stock derivative liability —  —  (15,416)
Income (loss) available to common stockholders – diluted $ 13,528  $ (15,791) $ 73,476 
Shares:
Weighted average shares of common stock outstanding – basic 28,066  28,533  24,601 
Effect of dilutive stock options and restricted stock 508  —  180 
Preferred shares as converted basis —  —  6,895 
Weighted average shares of common stock outstanding – diluted (2)
28,574  28,533  31,676 
Earnings (loss) per common share - basic $ 0.48  $ (0.55) $ 3.12 
Earnings (loss) per common share - diluted $ 0.47  $ (0.55) $ 2.32 
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(1)See the Company’s Annual Report on Form 10-K, filed with the SEC on May 31, 2022 for further discussion on PIK dividends and conversion of Old Bristow stock during the twelve months ended March 31, 2021.
(2)Excludes weighted average common shares of 1,276,783 for the nine months ended December 31, 2022, 1,573,745 and 135,882 for the twelve months ended March 31, 2022 and twelve months ended March 31, 2021, respectively, for certain share awards as the effect of their inclusion would have been antidilutive.