Quarterly report pursuant to Section 13 or 15(d)

SEGMENT INFORMATION

v3.21.2
SEGMENT INFORMATION
 6 Months Ended
Sep. 30, 2021
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
The Company conducts business in one segment: aviation services. The aviation services operations include four regions as follows: Europe, Africa, the Americas and Asia Pacific. The Europe region comprises all of the Company’s operations and affiliates in Europe, including Norway and the U.K. The Africa region comprises all of the Company’s operations and affiliates on the African continent, including Nigeria. The Americas region comprises all of the Company’s operations and affiliates in North America and South America, including Brazil, Canada, 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.
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 September 30, Six Months Ended September 30,
  2021 2020 2021 2020
Region revenue from external customers:
Europe $ 167,099  $ 164,920  $ 341,413  $ 331,913 
Africa 18,601  23,056  35,874  54,778 
Americas 95,427  95,361  181,765  154,475 
Asia Pacific 20,100  21,112  42,181  33,370 
Corporate and other 357  191  953  297 
Total region revenue (1)
$ 301,584  $ 304,640  $ 602,186  $ 574,833 
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(1) The above table represents disaggregated revenue from contracts with customers except for the following (in thousands):
Three Months Ended September 30, Six Months Ended September 30,
2021 2020 2021 2020
Revenues not from contracts with customers:
Europe $ 1,162  $ 348  $ 1,539  $ 690 
Americas(1)
4,368  9,964  11,907  20,333 
Asia Pacific 86  83  174  157 
Total region revenue $ 5,616  $ 10,395  $ 13,620  $ 21,180 
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(1) Includes revenues of approximately $0.9 million and $2.3 million from our unconsolidated affiliate in Canada, Cougar Helicopters Inc. (“Cougar”), previously included in Corporate and other for the three and six months ended September 30, 2020, respectively.
Three Months Ended September 30, Six Months Ended September 30,
  2021 2020 2021 2020
Earnings (losses) from unconsolidated affiliates, net – equity method investments:
Americas 964  1,948  (553) (30)
Total losses from unconsolidated affiliates, net – equity method investments $ 964  $ 1,948  $ (553) $ (30)
Consolidated operating income (loss):
Europe $ 13,484  $ 19,614  $ 36,516  $ 46,926 
Africa (3,493) (13,790) (14,972) (8,941)
Americas 21,723  16,188  33,955  3,186 
Asia Pacific (1,539) 4,535  (1,757) 3,007 
Corporate and other (17,862) (40,729) (54,159) (77,761)
Gain on disposal of assets 162  (8,473) 661  (2,951)
Total consolidated operating loss $ 12,475  $ (22,655) $ 244  $ (36,534)
Depreciation and amortization:
Europe $ 8,225  $ 8,080  $ 18,169  $ 16,292 
Africa 1,300  1,284  3,976  2,601 
Americas 3,748  5,098  9,500  8,053 
Asia Pacific 1,881  2,048  3,829  4,054 
Corporate and other 2,490  2,027  5,365  3,893 
Total depreciation and amortization $ 17,644  $ 18,537  $ 40,839  $ 34,893 
September 30, 2021 March 31, 2021
Identifiable assets:
Europe $ 966,733  $ 1,026,042 
Africa 136,674  179,445 
Americas 544,706  579,169 
Asia Pacific 55,387  102,169 
Corporate and other 157,737  105,445 
Total identifiable assets
 $ 1,861,236  $ 1,992,270 
Investments in unconsolidated affiliates – equity method:
Europe $ 26  $ 679 
Americas 3,120  3,851 
Total investments in unconsolidated affiliates – equity method $ 3,146  $ 4,530