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)
3 Months Ended
Jun. 30, 2021
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 June 30,
  2021 2020
Income (loss):
Net income (loss) attributable to Bristow Group Inc.
$ (14,197) $ 71,477 
Less: PIK dividends (1)
—  (12,039)
Plus: Deemed contribution from conversion of preferred stock
—  144,986 
Income available to common stockholders – basic
$ (14,197) $ 204,424 
Add: PIK dividends —  12,039 
Less: Changes in fair value of preferred stock derivative liability —  (15,416)
Income (loss) available to common stockholders – diluted $ (14,197) $ 201,047 
Shares:
Weighted average number of common shares outstanding – basic
28,669,417  11,102,611 
Net effect of dilutive preferred stock —  27,885,917 
Weighted average number of common shares outstanding – diluted(2)(3)
28,669,417  38,988,528 
Earnings per common share - basic $ (0.50) $ 18.41 
Earnings per common share - diluted $ (0.50) $ 5.16 
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(1)See Note 6 and discussion below for further details on PIK dividends and changes in fair value of preferred stock derivative liability.
(2)Excludes weighted average common shares of 238,599 and 1,622,332 for the three months ended June 30, 2021 and 2020, respectively, for certain share awards as the effect of their inclusion would have been antidilutive.
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, 2021 $ 32,646  $ (37,965) $ (1,596) $ (6,915)
Other comprehensive income (loss) before reclassification
1,224  —  1,672  2,896 
Reclassified from accumulated other comprehensive loss —  —  (730) (730)
Net current period other comprehensive income (loss)
1,224  —  942  2,166 
Foreign exchange rate impact
48  (48) —  — 
Balance as of June 30, 2021 $ 33,918  $ (38,013) $ (654) $ (4,749)
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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.