v3.21.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Mar. 31, 2021
Cash flows from operating activities:          
Net income (loss) $ 2,710 $ (27,992) $ (11,501) $ 43,412  
Adjustments to reconcile net income (loss) to net cash used in operating activities:          
Depreciation and amortization     46,959 45,675  
Deferred income taxes     2,858 (1,345)  
Loss from extinguishment of debt     124 615  
Bad debt expense     309 0  
Amortization of deferred financing fees     636 0  
Discount amortization on long-term debt     3,963 7,957  
Loss (gain) on disposal of assets (162) 8,473 (661) 2,951  
Loss on impairment 2,901 17,596 24,835 36,829  
Loss on sale of subsidiaries 0 0 2,002 0  
Gain on bargain purchase 0 (5,660) 0 (81,093)  
Change in fair value of preferred stock derivative liability 0 0 0 (15,416)  
Stock-based compensation     4,987 7,192  
Equity in earnings from unconsolidated affiliates less than dividends received     553 2,935  
Increase (decrease) in cash resulting from changes in:          
Accounts receivable     17,801 21,556  
Inventory, prepaid expenses and other assets     1,448 (8,075)  
Accounts payable, accrued expenses and other liabilities     (21,119) (28,202)  
Net cash provided by operating activities     73,194 34,991  
Cash flows from investing activities:          
Capital expenditures     (17,306) (7,372)  
Proceeds from asset dispositions 3,188 40,475 13,809 52,140  
Deposits on assets held for sale 0 3,437 0 3,437  
Cash transferred in sale of subsidiaries, net of cash received     (851) 0  
Increase in cash from Era merger     0 120,236  
Net cash provided by (used in) investing activities     (4,348) 168,441  
Cash flows from financing activities:          
Debt issuance costs     (2,708) 0  
Repayment of debt and debt redemption premiums     (12,479) (85,369)  
Purchase of treasury shares     (40,582) (6,428)  
Old Bristow share repurchases     0 (4,807)  
Net cash used in financing activities     (55,769) (96,604)  
Effect of exchange rate changes on cash, cash equivalents and restricted cash     (4,676) (1,756)  
Net increase in cash, cash equivalents and restricted cash     8,401 105,072  
Cash, cash equivalents and restricted cash at beginning of period     231,079 199,121 $ 199,121
Cash, cash equivalents and restricted cash at end of period $ 239,480 $ 304,193 239,480 304,193 $ 231,079
Cash paid during the period for:          
Interest     16,369 14,467  
Income taxes     $ 8,539 $ 7,726  

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