| Schedule of earnings per share, basic and diluted |
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, |
|
Nine Months Ended December 31, |
|
|
2021 |
|
2020 |
|
2021 |
|
2020 |
|
Income (loss): |
|
|
|
|
|
|
|
|
Net loss attributable to Bristow Group Inc. |
$ |
(56) |
|
|
$ |
(57,121) |
|
|
$ |
(11,479) |
|
|
$ |
(13,506) |
|
|
Less: PIK dividends (1)
|
— |
|
|
— |
|
|
— |
|
|
(12,039) |
|
|
Plus: Deemed contribution from conversion of preferred stock |
— |
|
|
— |
|
|
— |
|
|
144,986 |
|
|
Income (loss) available to common stockholders – basic |
$ |
(56) |
|
|
$ |
(57,121) |
|
|
$ |
(11,479) |
|
|
$ |
119,441 |
|
|
Add: PIK dividends |
— |
|
|
— |
|
|
— |
|
|
12,039 |
|
|
Less: Changes in fair value of preferred stock derivative liability |
— |
|
|
— |
|
|
— |
|
|
(15,416) |
|
|
Income (loss) available to common stockholders – diluted |
$ |
(56) |
|
|
$ |
(57,121) |
|
|
$ |
(11,479) |
|
|
$ |
116,064 |
|
|
Shares: |
|
|
|
|
|
|
|
|
Weighted average number of common shares outstanding – basic |
28,214,650 |
|
|
28,944,908 |
|
|
28,633,875 |
|
|
23,178,914 |
|
|
Net effect of dilutive preferred stock |
— |
|
|
— |
|
|
— |
|
|
9,196,618 |
|
|
|
|
|
|
|
|
|
|
|
Weighted average number of common shares outstanding – diluted(2)
|
28,214,650 |
|
|
28,944,908 |
|
|
28,633,875 |
|
|
32,375,532 |
|
|
|
|
|
|
|
|
|
|
|
Earnings (losses) per common share - basic |
$ |
— |
|
|
$ |
(1.97) |
|
|
$ |
(0.40) |
|
|
$ |
5.15 |
|
|
Earnings (losses) per common share - diluted |
$ |
— |
|
|
$ |
(1.97) |
|
|
$ |
(0.40) |
|
|
$ |
3.58 |
|
___________________________
(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 1,628,275 and 1,633,094 for the three and nine months ended December 31, 2021, respectively, for certain share awards as the effect of their inclusion would have been antidilutive. Excludes weighted average common shares of 1,275,170 for each of the three and nine months ended December 31, 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):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
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): |
|
|
|
|
|
|
|
Other comprehensive income (loss) before reclassification |
(11,348) |
|
|
— |
|
|
2,121 |
|
|
(9,227) |
|
|
|
|
|
|
|
|
|
Net current period other comprehensive income (loss) |
(11,348) |
|
|
— |
|
|
2,121 |
|
|
(9,227) |
|
Foreign exchange rate impact |
(711) |
|
|
711 |
|
|
— |
|
|
— |
|
| Balance as of December 31, 2021 |
$ |
20,587 |
|
|
$ |
(37,254) |
|
|
$ |
525 |
|
|
$ |
(16,142) |
|
__________________________
(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.
|