Annual report pursuant to Section 13 and 15(d)

NATURE OF OPERATIONS AND ACCOUNTING POLICIES (Tables)

v3.19.3.a.u2
NATURE OF OPERATIONS AND ACCOUNTING POLICIES (Tables)
 12 Months Ended
Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Restrictions on Cash and Cash Equivalents
The following table sets forth the Company’s reconciliation of cash, cash equivalents and restricted cash reported within the Consolidated Statement of Cash Flows for the years ended December 31, 2019, 2018 and 2017, respectively, (in thousands):
 
2019
 
2018
 
2017
Cash and cash equivalents
$
117,366

 
$
50,753

 
$
13,583

Restricted cash (1)
—

 
—

 
3,250

Total cash, cash equivalents and restricted cash shown in the Consolidated Statement of Cash Flows
$
117,366

 
$
50,753

 
$
16,833

(1) Restricted cash represents amounts deposited in escrow accounts at the end of each period. Escrow deposits are shown as a separate line item in the consolidated balance sheet.
Schedule of Cash and Cash Equivalents
The following table sets forth the Company’s reconciliation of cash, cash equivalents and restricted cash reported within the Consolidated Statement of Cash Flows for the years ended December 31, 2019, 2018 and 2017, respectively, (in thousands):
 
2019
 
2018
 
2017
Cash and cash equivalents
$
117,366

 
$
50,753

 
$
13,583

Restricted cash (1)
—

 
—

 
3,250

Total cash, cash equivalents and restricted cash shown in the Consolidated Statement of Cash Flows
$
117,366

 
$
50,753

 
$
16,833

(1) Restricted cash represents amounts deposited in escrow accounts at the end of each period. Escrow deposits are shown as a separate line item in the consolidated balance sheet.
Schedule of Allowance for Doubtful Accounts
Allowance for doubtful accounts for the years ended December 31, 2019, 2018 and 2017 were as follows (in thousands):
 
 
2019
 
2018
 
2017
Balance at beginning of period
 
$
261

 
$
1,196

 
$
1,219

Additional allowances charged to expense
 
41

 
82

 
144

Recovery of previously reserved accounts
 
(100
)
 
(127
)
 
(82
)
Write-offs
 
(145
)
 
(760
)
 
(68
)
Foreign currency adjustments
 
(2
)
 
(130
)
 
(17
)
Balance at end of period
 
$
55

 
$
261

 
$
1,196

Schedule of Inventory Allowance
The following table is a roll forward of the allowance related to obsolete and excess inventory for the years ended December 31, 2019, 2018 and 2017 (in thousands):
 
 
2019
 
2018
 
2017
Balance at beginning of period
 
$
3,246

 
$
3,739

 
$
4,012

Increase (decrease) in allowances, net (1)
 
15

 
(493
)
 
(273
)
Balance at end of period
 
$
3,261

 
$
3,246

 
$
3,739


(1) Includes $0.1 million elimination of H225 inventory reserve for 2017.
Schedule of Estimated Useful Life for New Property and Equipment
As of December 31, 2019, the estimated useful life (in years) of the Company’s categories of new property and equipment was as follows:
Helicopters (estimated salvage value at 40% of cost)
 
15

Machinery, equipment and spares
 
5

Buildings and leasehold improvements
 
10-30

Furniture, fixtures, vehicles and other
 
3-5