Bristow Group Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

ACQUISITIONS AND DISPOSITIONS

ACQUISITIONS AND DISPOSITIONS

12 Months Ended

Dec. 31, 2013

Property, Plant and Equipment [Abstract]

The Company’s capital expenditures were $110.1 million, $113.0 million and $158.9 million in 2013, 2012 and 2011, respectively, and consisted primarily of helicopter acquisitions and deposits on future helicopter deliveries. The Company records helicopter acquisitions in Property and Equipment and places helicopters in service once all completion work has been finalized and the helicopters are ready for use. A summary of changes to our owned helicopter fleet during the years ended December 31 were as follows:

Equipment Additions.



	2013 ⁽¹⁾	2012 ⁽²⁾	2011
Light helicopters - single engine	—	3	1
Light helicopters - twin engine	2	4	3
Medium helicopters	4	8	4
Heavy helicopters	—	3	1
	6	18	9

Equipment Dispositions. The Company sold or otherwise disposed of property and equipment for $65.2 million, $5.2 million and $26.0 million in 2013, 2012 and 2011, respectively. Major equipment dispositions for the years ended December 31 were as follows:



	2013	2012 ⁽³⁾	2011 ⁽⁴⁾
Light helicopters - single engine	—	—	3
Light helicopters - twin engine	4	6	3
Medium helicopters	10	2	2
Heavy helicopters	1	—	3
	15	8	11

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(1)	Includes two light-twin helicopters and one medium helicopter that were previously leased-in.


(2)	Includes three light-single helicopters and one medium helicopter that were previously leased-in.


(3)	Excludes two light-twin helicopters that were removed from service and includes one light-single helicopter that had previously been removed from service.


(4)	Includes one light-single helicopter that had previously been removed from service and excludes one light-twin helicopter that was removed from service in 2011.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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