Annual report pursuant to Section 13 and 15(d)

SEGMENT INFORMATION, MAJOR CUSTOMERS AND GEOGRAPHICAL DATA

v3.7.0.1
SEGMENT INFORMATION, MAJOR CUSTOMERS AND GEOGRAPHICAL DATA
 12 Months Ended
Dec. 31, 2016
Segment Reporting [Abstract]  
SEGMENT INFORMATION, MAJOR CUSTOMERS AND GEOGRAPHICAL DATA
SEGMENT INFORMATION, MAJOR CUSTOMERS AND GEOGRAPHICAL DATA
The Company has determined that its operations comprise a single segment. Helicopters are highly mobile and may be utilized in any of the Company’s service lines as business needs dictate.
For the year ended December 31, 2016, Anadarko Petroleum Corporation (“Anadarko”), Petrobras and the U.S. government accounted for 24%, 20% and 16%, respectively, of the Company’s operating revenues. For the year ended December 31, 2015, Anadarko and the U.S. government accounted for 27% and 13%, respectively, of the Company’s operating revenues. For the year ended December 31, 2014, Anadarko and the U.S. government accounted for 26% and 10%, respectively, of the Company’s operating revenues. For the years ended December 31, 2016, 2015 and 2014, approximately 31%, 21% and 15%, respectively, of the Company’s operating revenues were derived from foreign operations. The Company’s foreign revenues are primarily derived from oil and gas operations in Brazil, Colombia and Suriname as well as leasing activities.
The following represents the Company’s operating revenues by geographical region in which services are provided for the years ended December 31, 2016, 2015 and 2014 (in thousands):
 
 
2016
 
2015
 
2014
Operating revenues:
 
 
 
 
 
 
United States
 
$
171,121

 
$
222,465

 
$
281,869

Latin America and the Caribbean
 
64,007

 
40,420

 
20,524

Europe
 
5,924

 
10,582

 
17,914

Asia
 
6,176

 
8,370

 
10,915

 
 
$
247,228

 
$
281,837

 
$
331,222

The Company’s long-lived assets are primarily its property and equipment employed in various geographical regions of the world. The following represents the Company’s property and equipment, net of accumulated depreciation, based upon the assets’ physical locations as of December 31, 2016 and 2015 (in thousands):
 
 
2016
 
2015
Property and equipment, net:
 
 
 
 
United States
 
$
578,900

 
$
643,492

Latin America and the Caribbean
 
147,828

 
139,293

Europe(1)
 
76,575

 
51,037

Asia
 
18,506

 
25,394

 
 
$
821,809

 
$
859,216


The Company’s Brazilian operations include 250 employees, representing approximately 30% of the Company’s total workforce, that are covered under collective bargaining agreements, none of which expire within the next year.  Any disputes with its employees over the terms of the collective bargaining agreements could result in strikes or other work stoppages, higher labor costs or other conditions that may have a material adverse effect on the Company’s financial condition or results of operations.