Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2013
Dec. 31, 2012
Current Assets:    
Cash and cash equivalents $ 31,335 $ 11,505
Receivables:    
Trade, net of allowance for doubtful accounts of $3,101 and $2,668 in 2013 and 2012, respectively 38,137 48,810
Other, net of allowance for doubtful accounts of $437 and $nil in 2013 and 2012, respectively 4,374 4,430
Inventories, net 26,853 26,650
Prepaid expenses and other 2,167 1,803
Deferred income taxes 2,347 3,642
Total current assets 105,213 96,840
Property and Equipment:    
Helicopters 864,900 897,611
Construction in progress 85,289 22,644
Machinery, equipment and spares 75,170 72,161
Buildings and leasehold improvements 29,138 25,451
Furniture, fixtures, vehicles and other 12,461 12,409
Gross property and equipment 1,066,958 1,030,276
Accumulated depreciation (263,306) (242,471)
Net property and equipment 803,652 787,805
Investments, at Equity, and Advances to 50% or Less Owned Companies 34,986 34,696
Goodwill 352 352
Other Assets 14,380 17,871
Total Assets 958,583 937,564
Current Liabilities:    
Accounts payable and accrued expenses 13,293 15,703
Accrued wages and benefits 8,792 4,576
Accrued interest 772 1,401
Accrued income taxes 613 0
Derivatives 621 1,025
Current portion of long-term debt 2,787 2,787
Other current liabilities 3,267 4,207
Total current liabilities 30,145 29,699
Long-Term Debt 279,391 276,948
Deferred Income Taxes, Net 209,574 203,536
Deferred Gains and Other Liabilities 3,412 7,864
Total liabilities 522,522 518,047
Series A Preferred Stock, at redemption value; $0.01 par value; 10,000,000 shares authorized; none issued and outstanding in 2013; 1,400,000 shares issued and outstanding in 2012 0 144,232
Era Group Inc. Stockholders' Equity:    
Additional paid-in capital 421,310 278,838
Retained earnings (accumulated deficit) 14,680 (4,025)
Treasury shares, at cost (4,350 and nil in 2013 and 2012, respectively) (113) 0
Accumulated other comprehensive income, net of tax 176 20
Stockholders' equity attributable to parent, total 436,255 275,078
Noncontrolling interest in subsidiary (194) 207
Total equity 436,061 275,285
Total Liabilities and Stockholders’ Equity 958,583 937,564
Common Stock [Member]
    
Era Group Inc. Stockholders' Equity:    
Common stock 202 0
Common Class B [Member]
    
Era Group Inc. Stockholders' Equity:    
Common stock $ 0 $ 245