Quarterly report pursuant to Section 13 or 15(d)

STOCKHOLDERS' INVESTMENT, EARNINGS PER SHARE AND ACCUMULATED OTHER COMPREHENSIVE INCOME (Tables)

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STOCKHOLDERS' INVESTMENT, EARNINGS PER SHARE AND ACCUMULATED OTHER COMPREHENSIVE INCOME (Tables)
9 Months Ended
Dec. 31, 2020
Equity [Abstract]  
Schedule of earnings per share, basic and diluted Diluted earnings per common share excludes options to purchase common shares and restricted stock units and awards which were outstanding during the period but were anti-dilutive. The following table shows the computation of basic and diluted earnings per share (in thousands, except share and per share amounts):
Three Months Ended December 31, 2020 Two Months Ended
December 31, 2019
One Month Ended
October 31, 2019
Successor Predecessor
Net loss:
Net loss attributable to Bristow Group Inc. $ (57,121) $ (152,512) $ (504,194)
Less: PIK dividends (1)
—  (10,313) — 
Loss available to common stockholders – basic and diluted $ (57,121) $ (162,825) $ (504,194)
Shares:
Weighted average number of common shares outstanding – basic
28,944,908  11,235,535  35,918,916 
Net effect of dilutive stock options and restricted stock
—  —  — 
Weighted average number of common shares outstanding – diluted(2)(3)
28,944,908  11,235,535  35,918,916 
Loss per common share - basic $ (1.97) $ (14.49) $ (14.04)
Loss per common share - diluted $ (1.97) $ (14.49) $ (14.04)
Nine Months Ended December 31, 2020 Two Months Ended
December 31, 2019
Seven Months Ended
October 31, 2019
Successor Predecessor
Income (loss):
Net income (loss) attributable to Bristow Group Inc.
$ (13,506) $ (152,512) $ (836,414)
Less: PIK dividends (1)
(12,039) (10,313) — 
Plus: Deemed contribution from conversion of preferred stock
144,986  —  — 
Income available to common stockholders – basic
119,441  (162,825) (836,414)
Less: Preferred stock adjustments
(3,377) —  — 
Income available to common stockholders – diluted
$ 116,064  $ (162,825) $ (836,414)
Shares:
Weighted average number of common shares outstanding – basic
23,178,914  11,235,535  35,918,916 
Net effect of dilutive stock options and restricted stock
9,196,618  —  — 
Weighted average number of common shares outstanding – diluted(2)(3)
32,375,532  11,235,535  35,918,916 
Earnings (loss) per common share - basic $ 5.15  $ (14.49) $ (23.29)
Earnings (loss) per common share - diluted $ 3.58  $ (14.49) $ (23.29)
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(1)See Note 7 for further discussion on PIK dividends.
(2)Excludes weighted average common shares of 1,275,170 for each of the three and nine months ended December 31, 2020 (Successor), and 3,929,274 and 3,822,563 for the one and seven months ended October 31, 2019 (Predecessor), respectively, for certain share awards as the effect of their inclusion would have been antidilutive. The Old Bristow Preferred Stock is not included on an if-converted basis under diluted earnings per common share as the conversion of the shares would have been anti-dilutive. Diluted loss per common share equals basic loss per common share for the two months ended December 31, 2019 (Successor), as diluted loss per common share cannot be higher than basic loss per common share
(3)Potentially dilutive shares issuable pursuant to the warrant transactions entered into concurrently with the issuance of the Old Bristow’s 4½% Convertible Senior Notes (the “Warrant Transactions”) were not included in the computation of diluted income per share for the 2019 periods reflected, because to do so would have been anti-dilutive.
Schedule of accumulated other comprehensive income (loss)
The following table shows the changes in balances for accumulated other comprehensive income (loss) (in thousands):
Successor
  Currency Translation Adjustments
Pension Liability Adjustments (1)
Unrealized gain (loss) on cash flow hedges (2)
Total
Balance as of March 31, 2020 $ (16,440) $ 6,389  $ 1,410  $ (8,641)
Other comprehensive income (loss) before reclassification
46,190  —  (5,226) 40,964 
Reclassified from accumulated other comprehensive income
—  —  1,830  1,830 
Net current period other comprehensive income (loss)
46,190  —  (3,396) 42,794 
Foreign exchange rate impact
(621) 621  —  — 
Balance as of December 31, 2020 $ 29,129  $ 7,010  $ (1,986) $ 34,153 
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(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 direct costs.