Quarterly report pursuant to Section 13 or 15(d)

GUARANTORS OF SECURITIES (Condensed Balance Sheet) (Details)

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GUARANTORS OF SECURITIES (Condensed Balance Sheet) (Details) - USD ($)
$ in Thousands
Sep. 30, 2016
Dec. 31, 2015
Sep. 30, 2015
Dec. 31, 2014
Current assets:        
Cash and cash equivalents $ 32,144 $ 14,370 [1] $ 13,808 $ 40,867
Receivables:        
Trade, net of allowance for doubtful accounts of $1,214 34,300 48,639 [1]    
Tax receivables 0 6,085 [1]    
Other 6,490 3,305 [1]    
Inventories, net 26,615 27,994 [1]    
Prepaid expenses 1,799 1,963 [1]    
Other current assets 190 191 [1]    
Total current assets 101,538 102,547 [1]    
Property and equipment 1,175,131 1,175,909 [1]    
Accumulated depreciation (347,113) (316,693) [1]    
Property and equipment, net 828,018 859,216 [1]    
Equity investments and advances 29,595 28,898 [1]    
Investments in consolidated subsidiaries 0 0    
Intangible assets 1,141 1,158 [1]    
Deferred taxes 0 0    
Intercompany receivables 0 0    
Other assets 11,177 12,532 [1]    
Total assets 971,469 1,004,351 [1]    
Current liabilities:        
Accounts payable and accrued expenses 9,132 12,000 [1]    
Accrued wages and benefits 9,077 9,012 [1]    
Accrued interest 3,363 562 [1]    
Accrued income taxes 550 0 [1]    
Accrued other taxes 2,311 2,520 [1]    
Accrued contingencies 1,543 2,410 [1]    
Current portion of long-term debt 1,539 3,278 [1]    
Other current liabilities 2,470 2,300 [1]    
Total current liabilities 29,985 32,082 [1]    
Long-term debt (including $0 and $5,259 from VIEs in 2016 and 2015, respectively) 232,655 263,698 [1]    
Deferred income taxes 227,417 229,848 [1]    
Intercompany payables 0 0    
Other liabilities 4,280 2,616 [1]    
Total liabilities 494,337 528,244 [1]    
Redeemable noncontrolling interest 4,331 4,804 [1]    
Era Group Inc. stockholders’ equity:        
Common stock, $0.01 par value, 60,000,000 shares authorized; 20,940,372 and 20,495,694 outstanding in 2016 and 2015, respectively, exclusive of treasury shares 211 207 [1]    
Additional paid-in capital 437,291 433,175 [1]    
Retained earnings 38,062 40,502 [1]    
Treasury shares, at cost, 171,614 and 154,549 shares in 2016 and 2015, respectively (2,855) (2,673) [1]    
Accumulated other comprehensive income, net of tax 92 92 [1]    
Total equity 472,801 471,303 [1]    
Total liabilities, redeemable noncontrolling interest and stockholders’ equity 971,469 1,004,351 [1]    
Parent        
Current assets:        
Cash and cash equivalents 28,692 7,565 10,877 16,481
Receivables:        
Trade, net of allowance for doubtful accounts of $1,214 39 39    
Tax receivables   6,013    
Other 0 0    
Inventories, net 0 0    
Prepaid expenses 439 458    
Other current assets 190 190    
Total current assets 29,360 14,265    
Property and equipment 0 0    
Accumulated depreciation 0 0    
Property and equipment, net 0 0    
Equity investments and advances 0 0    
Investments in consolidated subsidiaries 181,394 172,335    
Intangible assets 0 0    
Deferred taxes 5,771 3,823    
Intercompany receivables 469,301 515,255    
Other assets 1,659 2,166    
Total assets 687,485 707,844    
Current liabilities:        
Accounts payable and accrued expenses 139 386    
Accrued wages and benefits 0 0    
Accrued interest 3,363 549    
Accrued income taxes 0      
Accrued other taxes 30 30    
Accrued contingencies 0 0    
Current portion of long-term debt 0 0    
Other current liabilities 647 534    
Total current liabilities 4,179 1,499    
Long-term debt (including $0 and $5,259 from VIEs in 2016 and 2015, respectively) 210,597 235,134    
Deferred income taxes 0 0    
Intercompany payables 0 0    
Other liabilities 0 0    
Total liabilities 214,776 236,633    
Redeemable noncontrolling interest 0 0    
Era Group Inc. stockholders’ equity:        
Common stock, $0.01 par value, 60,000,000 shares authorized; 20,940,372 and 20,495,694 outstanding in 2016 and 2015, respectively, exclusive of treasury shares 211 207    
Additional paid-in capital 437,291 433,175    
Retained earnings 38,062 40,502    
Treasury shares, at cost, 171,614 and 154,549 shares in 2016 and 2015, respectively (2,855) (2,673)    
Accumulated other comprehensive income, net of tax 0 0    
Total equity 472,709 471,211    
Total liabilities, redeemable noncontrolling interest and stockholders’ equity 687,485 707,844    
Guarantors        
Current assets:        
Cash and cash equivalents 1,602 3,334 0 22,188
Receivables:        
Trade, net of allowance for doubtful accounts of $1,214 27,871 40,345    
Tax receivables   72    
Other 5,362 3,089    
Inventories, net 26,352 25,557    
Prepaid expenses 1,231 1,411    
Other current assets 0 1    
Total current assets 62,418 73,809    
Property and equipment 1,159,147 1,159,441    
Accumulated depreciation (345,877) (316,090)    
Property and equipment, net 813,270 843,351    
Equity investments and advances 29,595 28,898    
Investments in consolidated subsidiaries 0 0    
Intangible assets 0 0    
Deferred taxes 0 0    
Intercompany receivables 0 0    
Other assets 5,308 6,999    
Total assets 910,591 953,057    
Current liabilities:        
Accounts payable and accrued expenses 7,207 9,635    
Accrued wages and benefits 6,583 6,875    
Accrued interest 0 13    
Accrued income taxes 536      
Accrued other taxes 1,109 789    
Accrued contingencies 0 0    
Current portion of long-term debt 1,524 1,663    
Other current liabilities 1,789 1,311    
Total current liabilities 18,748 20,286    
Long-term debt (including $0 and $5,259 from VIEs in 2016 and 2015, respectively) 22,058 23,305    
Deferred income taxes 232,510 232,994    
Intercompany payables 436,996 501,512    
Other liabilities 1,246 1,887    
Total liabilities 711,558 779,984    
Redeemable noncontrolling interest 4 4    
Era Group Inc. stockholders’ equity:        
Common stock, $0.01 par value, 60,000,000 shares authorized; 20,940,372 and 20,495,694 outstanding in 2016 and 2015, respectively, exclusive of treasury shares 0 0    
Additional paid-in capital 100,306 95,543    
Retained earnings 98,631 77,434    
Treasury shares, at cost, 171,614 and 154,549 shares in 2016 and 2015, respectively 0 0    
Accumulated other comprehensive income, net of tax 92 92    
Total equity 199,029 173,069    
Total liabilities, redeemable noncontrolling interest and stockholders’ equity 910,591 953,057    
Non-guarantors        
Current assets:        
Cash and cash equivalents 1,850 3,471 2,931 2,198
Receivables:        
Trade, net of allowance for doubtful accounts of $1,214 6,390 8,255    
Tax receivables   0    
Other 1,128 216    
Inventories, net 263 2,437    
Prepaid expenses 129 94    
Other current assets 0 0    
Total current assets 9,760 14,473    
Property and equipment 15,984 16,468    
Accumulated depreciation (1,236) (603)    
Property and equipment, net 14,748 15,865    
Equity investments and advances 0 0    
Investments in consolidated subsidiaries 0 0    
Intangible assets 1,141 1,158    
Deferred taxes 0 0    
Intercompany receivables 0 0    
Other assets 4,210 3,367    
Total assets 29,859 34,863    
Current liabilities:        
Accounts payable and accrued expenses 1,786 1,979    
Accrued wages and benefits 2,494 2,137    
Accrued interest 0 0    
Accrued income taxes 14      
Accrued other taxes 1,172 1,701    
Accrued contingencies 1,543 2,410    
Current portion of long-term debt 15 1,615    
Other current liabilities 34 455    
Total current liabilities 7,058 10,297    
Long-term debt (including $0 and $5,259 from VIEs in 2016 and 2015, respectively) 0 5,259    
Deferred income taxes 678 677    
Intercompany payables 32,305 13,743    
Other liabilities 3,034 729    
Total liabilities 43,075 30,705    
Redeemable noncontrolling interest 4,327 4,800    
Era Group Inc. stockholders’ equity:        
Common stock, $0.01 par value, 60,000,000 shares authorized; 20,940,372 and 20,495,694 outstanding in 2016 and 2015, respectively, exclusive of treasury shares 0 0    
Additional paid-in capital 4,562 9,325    
Retained earnings (22,105) (9,967)    
Treasury shares, at cost, 171,614 and 154,549 shares in 2016 and 2015, respectively 0 0    
Accumulated other comprehensive income, net of tax 0 0    
Total equity (17,543) (642)    
Total liabilities, redeemable noncontrolling interest and stockholders’ equity 29,859 34,863    
Eliminations        
Current assets:        
Cash and cash equivalents 0 0 $ 0 $ 0
Receivables:        
Trade, net of allowance for doubtful accounts of $1,214 0 0    
Tax receivables   0    
Other 0 0    
Inventories, net 0 0    
Prepaid expenses 0 0    
Other current assets 0 0    
Total current assets 0 0    
Property and equipment 0 0    
Accumulated depreciation 0 0    
Property and equipment, net 0 0    
Equity investments and advances 0 0    
Investments in consolidated subsidiaries (181,394) (172,335)    
Intangible assets 0 0    
Deferred taxes (5,771) (3,823)    
Intercompany receivables (469,301) (515,255)    
Other assets 0 0    
Total assets (656,466) (691,413)    
Current liabilities:        
Accounts payable and accrued expenses 0 0    
Accrued wages and benefits 0 0    
Accrued interest 0 0    
Accrued income taxes 0      
Accrued other taxes 0 0    
Accrued contingencies 0 0    
Current portion of long-term debt 0 0    
Other current liabilities 0 0    
Total current liabilities 0 0    
Long-term debt (including $0 and $5,259 from VIEs in 2016 and 2015, respectively) 0 0    
Deferred income taxes (5,771) (3,823)    
Intercompany payables (469,301) (515,255)    
Other liabilities 0 0    
Total liabilities (475,072) (519,078)    
Redeemable noncontrolling interest 0 0    
Era Group Inc. stockholders’ equity:        
Common stock, $0.01 par value, 60,000,000 shares authorized; 20,940,372 and 20,495,694 outstanding in 2016 and 2015, respectively, exclusive of treasury shares 0 0    
Additional paid-in capital (104,868) (104,868)    
Retained earnings (76,526) (67,467)    
Treasury shares, at cost, 171,614 and 154,549 shares in 2016 and 2015, respectively 0 0    
Accumulated other comprehensive income, net of tax 0 0    
Total equity (181,394) (172,335)    
Total liabilities, redeemable noncontrolling interest and stockholders’ equity $ (656,466) $ (691,413)    
[1] Adjusted for the adoption of Accounting Standards Update (“ASU”) 2015-03 on January 1, 2016 whereby $2,740 of debt issuance costs previously included in other assets are now included in long-term debt.