Quarterly report pursuant to Section 13 or 15(d)

SEGMENT INFORMATION

v3.20.4
SEGMENT INFORMATION
 9 Months Ended
Dec. 31, 2020
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
The Company conducts business in one segment: aviation services. The aviation services global operations include four regions as follows: Europe Caspian, Africa, Americas and Asia Pacific. The Europe Caspian region comprises all of the Company’s operations and affiliates in Europe and Central Asia, including Norway, the U.K and prior to the quarter ended December 31, 2020 the Company had rotary wing operations in Turkmenistan. The Africa region comprises all of the Company’s operations and affiliates on the African continent, including Nigeria and Egypt. The Americas region comprises all of the Company’s operations and affiliates in North America and South America, including Brazil, Canada, Colombia, Guyana, Suriname, Trinidad and the U.S. Gulf of Mexico. The Asia Pacific region comprises all of the Company’s operations and affiliates in Australia and Southeast Asia. Prior to the sale of BHLL and Aviashelf in April and June 2019, respectively, the Company had operations in Sakhalin, Russia which is included in the Asia Pacific region. Prior to the sale of Eastern Airways in May 2019 (Predecessor), the Company had fixed wing operations in the Europe Caspian region.
The following tables show region information reconciled to consolidated totals, and prepared on the same basis as the Company’s condensed consolidated financial statements (in thousands):
Three Months Ended December 31, 2020 Two Months Ended
December 31, 2019		 One Month Ended
October 31, 2019
  Successor Predecessor
Region revenues
Europe Caspian $ 159,415  $ 115,930  $ 60,196 
Africa 25,325  30,625  15,215 
Americas 100,152  40,624  21,835 
Asia Pacific 21,350  13,600  8,462 
Corporate and other 3,655  145  119 
Total region revenues (1)
$ 309,897  $ 200,924  $ 105,827 
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(1)    The above table represents disaggregated revenue from contracts with customers except for the following (in thousands):
Three Months Ended December 31, 2020 Two Months Ended
December 31, 2019		 One Month Ended
October 31, 2019
Successor Predecessor
Region revenues not from contracts with customers:
Europe Caspian $ 118  $ 219  $ 104 
Americas 5,839  5,845  2,661 
Asia Pacific 21  52  — 
Corporate and other 83  —  31 
Total region revenues not from contracts with customers $ 6,061  $ 6,116  $ 2,796 
Nine Months Ended December 31, 2020 Two Months Ended
December 31, 2019		 Seven Months Ended
October 31, 2019
  Successor Predecessor
Region revenues from external customers:
Europe Caspian $ 491,328  $ 115,930  $ 428,660 
Africa 80,103  30,625  111,896 
Americas 254,627  40,624  140,551 
Asia Pacific 54,720  13,600  75,722 
Corporate and other 3,952  145  394 
Total region revenues (1)
$ 884,730  $ 200,924  $ 757,223 
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(1)    The above table represents disaggregated revenues from contracts with customers except for the following (in thousands):
Nine Months Ended December 31, 2020 Two Months Ended
December 31, 2019		 Seven Months Ended
October 31, 2019
Successor Predecessor
Revenues not from contracts with customers:
Europe Caspian $ 808  $ 219  $ 726 
Americas 23,865  5,845  18,627 
Asia Pacific 178  52  191 
Corporate and other 2,390  —  — 
Total region revenues not from contracts with customers $ 27,241  $ 6,116  $ 19,544 
Three Months Ended December 31, 2020 Two Months Ended
December 31, 2019		 One Month Ended
October 31, 2019
  Successor Predecessor
Earnings from unconsolidated affiliates, net of losses:
Europe Caspian $ —  120  $ — 
Americas 896  1,379  3,609 
Total earnings from unconsolidated affiliates, net of losses $ 896  1,499  $ 3,609 
Region operating income (loss):
Europe Caspian $ 11,916  $ 1,869  $ 3,112 
Africa (1,407) 2,910  2,982 
Americas (29,235) 8,596  6,296 
Asia Pacific 717  (2,885) (1,371)
Corporate and other (22,530) (12,221) (9,621)
Gain (loss) on disposal of assets 1,951  (154) 249 
Total consolidated operating income (loss) $ (38,588) $ (1,885) $ 1,647 
Region depreciation and amortization:
Europe Caspian $ 7,904  $ 6,019  $ 3,321 
Africa 1,214  1,342  831 
Americas 4,788  1,586  2,184 
Asia Pacific 1,948  1,792  772 
Corporate and other 2,077  1,187  1,114 
Total consolidated depreciation and amortization $ 17,931  $ 11,926  $ 8,222 
Nine Months Ended December 31, 2020 Two Months Ended
December 31, 2019		 Seven Months Ended
October 31, 2019
  Successor Predecessor
Earnings from unconsolidated affiliates, net of losses:
Europe Caspian $ (19) $ 120  $ 168 
Americas 841  1,379  6,100 
Corporate and other —  —  321 
Total earnings from unconsolidated affiliates, net of losses $ 822  $ 1,499  $ 6,589 
Consolidated operating income (loss):
Europe Caspian $ 58,842  $ 1,869  $ 26,143 
Africa (10,348) 2,910  17,255 
Americas (26,049) 8,596  13,391 
Asia Pacific 3,724  (2,885) (33,653)
Corporate and other (100,291) (12,221) (101,559)
Gain (loss) on disposal of assets (1,000) (154) (3,768)
Total consolidated operating income (loss) $ (75,122) $ (1,885) $ (82,191)
Depreciation and amortization:
Europe Caspian $ 24,196  $ 6,019  $ 28,155 
Africa 3,815  1,342  10,829 
Americas 12,841  1,586  16,654 
Asia Pacific 6,002  1,792  7,463 
Corporate and other 5,970  1,187  7,763 
Total depreciation and amortization $ 52,824  $ 11,926  $ 70,864 

Successor
December 31, 2020 March 31, 2020
Identifiable assets:
Europe Caspian $ 1,261,934  $ 1,096,022 
Africa 195,998  235,165 
Americas 455,392  319,015 
Asia Pacific 84,614  166,229 
Corporate and other (2)
137,844  128,830 
Total identifiable assets
 $ 2,135,782  $ 1,945,261 
Investments in unconsolidated affiliates:
Europe Caspian $ 668  $ 575 
Americas 4,700  76,483 
Total investments in unconsolidated affiliates $ 5,368  $ 77,058 
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(2)Includes $7.4 million and $7.8 million of construction in progress within property and equipment on the Company’s condensed consolidated balance sheets as of December 31 and March 31, 2020 (Successor), respectively, which primarily represents aircraft deposits, aircraft modifications and other miscellaneous equipment, tooling and building improvements currently in progress.