Annual report [Section 13 and 15(d), not S-K Item 405]

STOCKHOLDERS??? EQUITY AND ACCUMULATED OTHER COMPREHENSIVE INCOME

v3.25.0.1
STOCKHOLDERS’ EQUITY AND ACCUMULATED OTHER COMPREHENSIVE INCOME
 12 Months Ended
Dec. 31, 2024
Equity [Abstract]  
STOCKHOLDERS’ EQUITY AND ACCUMULATED OTHER COMPREHENSIVE INCOME STOCKHOLDERS’ EQUITY AND ACCUMULATED OTHER COMPREHENSIVE INCOME
Stock Repurchase Program
In August 2022, the Board authorized a stock repurchase program providing for the repurchase of up to $40.0 million. Purchases of the Company’s common stock under this stock repurchase program may be made in the open market, including pursuant to a Rule 10b5-1 program, by block repurchases, in private transactions (including with related parties) or otherwise, from time to time, depending on market conditions, has no expiration date and may be suspended or discontinued at any time without notice, subject to any changes in applicable law or regulations thereunder. As of December 31, 2024, $40.0 million remained available under this stock repurchase program.
In February 2025, the Board of Directors of Bristow approved a new $125.0 million stock repurchase program, and terminated the prior program, under which $40.0 million remained available of the original $40.0 million authorized. Purchases of the Company’s common stock under the stock repurchase program may be made in the open market, including pursuant to a Rule 10b5-1 program, by block repurchases, in private transactions (including with related parties) or otherwise, from time to time, depending on market conditions. The stock repurchase program has no expiration date and may be suspended or discontinued at any time without notice, subject to any changes in applicable law or regulations thereunder.
Accumulated Other Comprehensive Income (Loss)
The following table shows the changes in balances for accumulated other comprehensive income (loss) (in thousands):
  Currency Translation Adjustments
Pension Liability Adjustments(1)
Unrealized gain (loss) on cash flow hedges(2)
Total
Balance as of March 31, 2022 $ 5,643  $ (30,274) $ 1,181  $ (23,450)
Other comprehensive loss (48,368) —  (455) (48,823)
Reclassified from accumulated other comprehensive income —  (12,441) 657  (11,784)
Net current period other comprehensive income (loss) (48,368) (12,441) 202  (60,607)
Foreign exchange rate impact (2,625) 2,625  —  — 
Balance as of December 31, 2022 $ (45,350) $ (40,090) $ 1,383  $ (84,057)
Other comprehensive loss before reclassification 21,370  —  (84) 21,286 
Reclassified from accumulated other comprehensive income —  7,528  600  8,128 
Net current period other comprehensive income (loss) 21,370  7,528  516  29,414 
Foreign exchange rate impact 2,379  (2,379) —  — 
Balance as of December 31, 2023 $ (21,601) $ (34,941) $ 1,899  $ (54,643)
Other comprehensive income before reclassification (27,689) —  (3,640) (31,329)
Reclassified from accumulated other comprehensive income —  (12,150) 917  (11,233)
Income tax benefit —  3,111  425  3,536 
Net current period other comprehensive income (27,689) (9,039) (2,298) (39,026)
Foreign exchange rate impact (613) 613  —  — 
Balance as of December 31, 2024 $ (49,903) $ (43,367) $ (399) $ (93,669)
______________________
(1)Reclassification of amounts related to pension liability adjustments are included as a component of net periodic pension cost.
(2)Reclassification of amounts related to cash flow hedges were included as operating expenses