Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS

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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Revenues $ 221,676 $ 231,321 $ 247,228
Costs and expenses      
Operating 151,523 167,446 169,863
Administrative and general 45,126 42,092 36,206
Depreciation and amortization 39,541 45,736 49,315
Total costs and expenses 236,190 255,274 255,384
Gains on asset dispositions 1,575 4,507 4,787
Litigation settlement proceeds 42,000 0 0
Loss on impairment 991 117,018 0
Operating income (loss) 28,070 (136,464) (3,369)
Other income (expense)      
Interest income 2,042 760 741
Interest expense (15,131) (16,763) (17,325)
Foreign currency gains (losses), net (1,018) (226) 7
Gain on debt extinguishment 175 0 518
Other, net 54 (12) 69
Total other income (expense) (13,878) (16,241) (15,990)
Income (loss) before income tax expense and equity earnings 14,192 (152,705) (19,359)
Income tax expense (benefit)      
Current 1,181 (3,523) 1,235
Deferred 1,759 (119,142) (4,592)
Total income tax expense (benefit) 2,940 (122,665) (3,357)
Income (loss) before equity earnings 11,252 (30,040) (16,002)
Equity earnings, net of tax 2,206 1,425 1,092
Net income (loss) 13,458 (28,615) (14,910)
Net loss attributable to noncontrolling interest in subsidiaries 464 454 6,932
Net income (loss) attributable to Era Group Inc. $ 13,922 $ (28,161) $ (7,978)
Earnings (loss) per common share      
Basic (in usd per share) $ 0.64 $ (1.36) $ (0.39)
Diluted (in usd per share) $ 0.64 $ (1.36) $ (0.39)
Weighted average common shares outstanding      
Basic (in shares) 21,167,550 20,760,530 20,350,066
Diluted (in shares) 21,180,490 20,760,530 20,350,066
Operating Revenues      
Revenues $ 210,194 $ 214,927 $ 233,527
Dry-Leasing      
Revenues $ 11,482 $ 16,394 $ 13,701