PROPERTY AND EQUIPMENT (Tables)
|12 Months Ended|
Mar. 31, 2021
|Property, Plant and Equipment [Abstract]|
|Capital Expenditures And Aircraft Sold or Disposed of and Impairments on Assets Held-for-sale||
The Company made capital expenditures as follows (in thousands, except number of aircraft):
(1)U. K. SAR configured AW189s.
The following table presents details on the aircraft sold or disposed of (in thousands, except for number of aircraft):
(1)Includes $42.0 million impairment related to H225s for the seven months ended October 31, 2019 (Predecessor). Includes an $87.5 million impairment related to H225s and a $17.5 million impairment related to Eastern Airways assets for fiscal year 2019 (Predecessor), included in loss on impairment on the consolidated statements of operations.
(2)Includes $11.7 million of progress payments and $2.3 million of capitalized interest for an aircraft purchase contract that was terminated in fiscal year 2019 (Predecessor). Additionally, $0.5 million of progress payments and $0.2 million of capitalized interest for aircraft options were terminated in fiscal year 2019 (Predecessor).(3)In connection with Old Bristow’s emergence from bankruptcy and the application of ASC 852, Old Bristow adjusted property and equipment by $768.6 million to its respective fair value of $931.7 million at the Effective Date.
Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef