Quarterly report pursuant to Section 13 or 15(d)

GUARANTORS OF SECURITIES (Tables)

v3.8.0.1
GUARANTORS OF SECURITIES (Tables)
 9 Months Ended
Sep. 30, 2017
Guarantees [Abstract]  
Condensed Balance Sheet
Supplemental Condensed Consolidating Balance Sheet as of September 30, 2017
 
Parent
 
Guarantors
 
Non-guarantors
 
Eliminations
 
Consolidated
 
(in thousands, except share data)
ASSETS
 
 
 
 
 
 
 
 
 
Current assets:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
25,234

 
$
—

 
$
1,662

 
$
—

 
$
26,896

Receivables:
 
 
 
 
 
 
 
 
 
Trade, net of allowance for doubtful accounts of $1,227
—

 
30,794

 
7,814

 
—

 
38,608

Tax receivable
9

 
7

 
2,795

 
—

 
2,811

Other
—

 
1,602

 
884

 
—

 
2,486

Inventories, net
—

 
21,676

 
309

 
—

 
21,985

Prepaid expenses
397

 
1,904

 
138

 
—

 
2,439

Escrow deposits
—

 
—

 
—

 
—

 
—

Total current assets
25,640

 
55,983

 
13,602

 
—

 
95,225

Property and equipment
—

 
967,801

 
15,997

 
—

 
983,798

Accumulated depreciation
—

 
(297,096
)
 
(2,198
)
 
—

 
(299,294
)
Property and equipment, net
—

 
670,705

 
13,799

 
—

 
684,504

Equity investments and advances
—

 
29,894

 
—

 
—

 
29,894

Investments in consolidated subsidiaries
95,442

 
—

 
—

 
(95,442
)
 
—

Intangible assets
—

 
—

 
1,126

 
—

 
1,126

Deferred taxes
17,558

 
—

 
—

 
(17,558
)
 
—

Intercompany receivables
439,952

 
—

 
—

 
(439,952
)
 
—

Other assets
1,213

 
3,740

 
68

 
—

 
5,021

Total assets
$
579,805

 
$
760,322

 
$
28,595

 
$
(552,952
)
 
$
815,770

LIABILITIES, REDEEMABLE NONCONTROLLING INTEREST AND STOCKHOLDERS’ EQUITY
 
 
 
 
 
 
 
 
 
Current liabilities:
 
 
 
 
 
 
 
 
 
Accounts payable and accrued expenses
$
562

 
$
12,034

 
$
2,730

 
$
—

 
$
15,326

Accrued wages and benefits
—

 
6,241

 
2,109

 
—

 
8,350

Accrued interest
3,325

 
—

 
—

 
—

 
3,325

Accrued income taxes
—

 
—

 
38

 
—

 
38

Accrued other taxes
214

 
1,356

 
528

 
—

 
2,098

Accrued contingencies
—

 
—

 
1,288

 
—

 
1,288

Current portion of long-term debt
—

 
1,524

 
667

 
—

 
2,191

Other current liabilities
699

 
1,665

 
42

 
—

 
2,406

Total current liabilities
4,800

 
22,820

 
7,402

 
—

 
35,022

Long-term debt
192,147

 
20,395

 
2,483

 
—

 
215,025

Deferred income taxes
—

 
194,012

 
1,250

 
(17,558
)
 
177,704

Intercompany payables
—

 
396,905

 
43,047

 
(439,952
)
 
—

Other liabilities
—

 
1,069

 
—

 
—

 
1,069

Total liabilities
196,947

 
635,201

 
54,182

 
(457,510
)
 
428,820

Redeemable noncontrolling interest
—

 
4

 
3,998

 
—

 
4,002

Equity:
 
 
 
 
 
 
 
 
 
Common stock, $0.01 par value, 60,000,000 shares authorized; 21,328,653 outstanding, exclusive of treasury shares
215

 
—

 
—

 
—

 
215

Additional paid-in capital
442,948

 
100,306

 
4,562

 
(104,868
)
 
442,948

Retained earnings
(57,331
)
 
24,721

 
(34,147
)
 
9,426

 
(57,331
)
Treasury shares, at cost, 180,430 shares
(2,974
)
 
—

 
—

 
—

 
(2,974
)
Accumulated other comprehensive income, net of tax
—

 
90

 
—

 
—

 
90

Total equity
382,858

 
125,117

 
(29,585
)
 
(95,442
)
 
382,948

Total liabilities, redeemable noncontrolling interest and stockholders’ equity
$
579,805

 
$
760,322

 
$
28,595

 
$
(552,952
)
 
$
815,770

Supplemental Condensed Consolidating Balance Sheet as of December 31, 2016
 
Parent
 
Guarantors
 
Non-guarantors
 
Eliminations
 
Consolidated
 
(in thousands, except share data)
ASSETS
 
 
 
 
 
 
 
 
 
Current assets:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
25,474

 
$
—

 
$
1,476

 
$
—

 
$
26,950

Receivables:
 
 
 
 
 
 
 
 
 
Trade, net of allowance for doubtful accounts of $1,219
39

 
26,118

 
6,313

 
—

 
32,470

Tax receivables
9

 
4

 
3,448

 
—

 
3,461

Other
—

 
1,658

 
1,058

 
—

 
2,716

Inventories, net
—

 
25,156

 
261

 
—

 
25,417

Prepaid expenses
359

 
976

 
244

 
—

 
1,579

Escrow deposits
—

 
3,777

 
—

 
—

 
3,777

Total current assets
25,881

 
57,689

 
12,800

 
—

 
96,370

Property and equipment
—

 
1,138,020

 
16,008

 
—

 
1,154,028

Accumulated depreciation
—

 
(330,735
)
 
(1,484
)
 
—

 
(332,219
)
Net property and equipment
—

 
807,285

 
14,524

 
—

 
821,809

Equity investments and advances
—

 
29,266

 
—

 
—

 
29,266

Investments in consolidated subsidiaries
174,830

 
—

 
—

 
(174,830
)
 
—

Intangible assets
—

 
—

 
1,137

 
—

 
1,137

Deferred income taxes
12,262

 
—

 
—

 
(12,262
)
 
—

Intercompany receivables
460,623

 
—

 
—

 
(460,623
)
 
—

Other assets
1,820

 
4,723

 
48

 
—

 
6,591

Total assets
$
675,416

 
$
898,963

 
$
28,509

 
$
(647,715
)
 
$
955,173

LIABILITIES, REDEEMABLE NONCONTROLLING INTEREST AND STOCKHOLDERS’ EQUITY
 
 
 
 
 
 
 
 
 
Current liabilities:
 
 
 
 
 
 
 
 
 
Accounts payable and accrued expenses
$
322

 
$
6,273

 
$
2,281

 
$
—

 
$
8,876

Accrued wages and benefits
—

 
6,446

 
2,061

 
—

 
8,507

Accrued interest
529

 
—

 
—

 
—

 
529

Accrued income taxes
—

 
653

 
13

 
—

 
666

Current portion of long-term debt
—

 
1,524

 
615

 
—

 
2,139

Accrued other taxes
29

 
645

 
773

 
—

 
1,447

Accrued contingencies
—

 
—

 
1,237

 
—

 
1,237

Other current liabilities
481

 
1,525

 
216

 
—

 
2,222

Total current liabilities
1,361

 
17,066

 
7,196

 
—

 
25,623

Long-term debt
205,730

 
21,642

 
2,767

 
—

 
230,139

Deferred income taxes
—

 
237,067

 
667

 
(12,262
)
 
225,472

Intercompany payables
—

 
426,410

 
34,213

 
(460,623
)
 
—

Other liabilities
—

 
1,301

 
—

 
—

 
1,301

Total liabilities
207,091

 
703,486

 
44,843

 
(472,885
)
 
482,535

Redeemable noncontrolling interest
—

 
4

 
4,217

 
—

 
4,221

Equity:
 
 
 
 
 
 
 
 
 
Common stock, $0.01 par value, 60,000,000 shares authorized; 20,936,636 shares outstanding, exclusive of treasury shares
211

 
—

 
—

 
—

 
211

Additional paid-in capital
438,489

 
100,306

 
4,562

 
(104,868
)
 
438,489

Retained earnings
32,524

 
95,075

 
(25,113
)
 
(69,962
)
 
32,524

Treasury shares, at cost, 175,350 shares
(2,899
)
 
—

 
—

 
—

 
(2,899
)
Accumulated other comprehensive income, net of tax
—

 
92

 
—

 
—

 
92

Total equity
468,325

 
195,473

 
(20,551
)
 
(174,830
)
 
468,417

Total liabilities, redeemable noncontrolling interest and stockholders’ equity
$
675,416

 
$
898,963

 
$
28,509

 
$
(647,715
)
 
$
955,173

Condensed Income Statement
Supplemental Condensed Consolidating Statements of Operations for the Three Months Ended September 30, 2017
 
Parent
 
Guarantors
 
Non-guarantors
 
Eliminations
 
Consolidated
 
(in thousands)
Operating revenues
$
—

 
$
51,919

 
$
16,729

 
$
(7,263
)
 
$
61,385

Costs and expenses:
 
 
 
 
 
 
 
 
 
Operating
—

 
35,826

 
15,424

 
(7,263
)
 
43,987

Administrative and general
2,305

 
7,306

 
1,317

 
—

 
10,928

Depreciation
—

 
11,851

 
252

 
—

 
12,103

Total costs and expenses
2,305

 
54,983

 
16,993

 
(7,263
)
 
67,018

Gains on asset dispositions, net
—

 
(122
)
 
—

 
—

 
(122
)
Loss on impairment
—

 
(116,586
)
 
(432
)
 
—

 
(117,018
)
Operating loss
(2,305
)
 
(119,772
)
 
(696
)
 
—

 
(122,773
)
Other income (expense):
 
 
 
 
 
 
 
 
 
Interest income
47

 
102

 
57

 
—

 
206

Interest expense
(3,838
)
 
(170
)
 
(89
)
 
—

 
(4,097
)
Foreign currency gains (losses), net
66

 
85

 
(139
)
 
—

 
12

Other, net
—

 
(1
)
 
(32
)
 
—

 
(33
)
Total other income (expense)
(3,725
)
 
16

 
(203
)
 
—

 
(3,912
)
Loss before income taxes and equity earnings
(6,030
)
 
(119,756
)
 
(899
)
 
—

 
(126,685
)
Income tax expense (benefit)
(2,114
)
 
(43,276
)
 
153

 
—

 
(45,237
)
Loss before equity earnings
(3,916
)
 
(76,480
)
 
(1,052
)
 
—

 
(81,448
)
Equity earnings, net of tax
—

 
233

 
—

 
—

 
233

Equity in earnings (losses) of subsidiaries
(77,532
)
 
—

 
—

 
77,532

 
—

Net income (loss)
(81,448
)
 
(76,247
)
 
(1,052
)
 
77,532

 
(81,215
)
Net loss attributable to noncontrolling interest in subsidiary
—

 
—

 
(233
)
 
—

 
(233
)
Net income (loss) attributable to Era Group Inc.
$
(81,448
)
 
$
(76,247
)
 
$
(1,285
)
 
$
77,532

 
$
(81,448
)
Supplemental Condensed Consolidating Statements of Operations for the Three Months Ended September 30, 2016
 
Parent
 
Guarantors
 
Non-guarantors
 
Eliminations
 
Consolidated
 
(in thousands)
Operating revenues
$
—

 
$
59,130

 
$
15,786

 
$
(9,910
)
 
$
65,006

Costs and expenses:
 
 
 
 
 
 
 
 
 
Operating
—

 
31,759

 
18,522

 
(9,910
)
 
40,371

Administrative and general
738

 
7,274

 
1,492

 
—

 
9,504

Depreciation
—

 
12,244

 
275

 
—

 
12,519

Total costs and expenses
738

 
51,277

 
20,289

 
(9,910
)
 
62,394

Gains on asset dispositions, net
—

 
2

 
(248
)
 
—

 
(246
)
Operating income (loss)
(738
)
 
7,855

 
(4,751
)
 
—

 
2,366

Other income (expense):
 
 
 
 
 
 
 
 
 
Interest income
24

 
116

 
326

 
—

 
466

Interest expense
(3,581
)
 
(387
)
 
(35
)
 
—

 
(4,003
)
Foreign currency gains (losses), net
28

 
82

 
(143
)
 
—

 
(33
)
Other, net
—

 
1

 
33

 
—

 
34

Total other income (expense)
(3,529
)
 
(188
)
 
181

 
—

 
(3,536
)
Income (loss) before income taxes and equity earnings
(4,267
)
 
7,667

 
(4,570
)
 
—

 
(1,170
)
Income tax expense (benefit)
(604
)
 
673

 
—

 
—

 
69

Income (loss) before equity earnings
(3,663
)
 
6,994

 
(4,570
)
 
—

 
(1,239
)
Equity earnings, net of tax
—

 
437

 
—

 
—

 
437

Equity in earnings (losses) of subsidiaries
3,103

 
—

 
—

 
(3,103
)
 
—

Net income (loss)
(560
)
 
7,431

 
(4,570
)
 
(3,103
)
 
(802
)
Net loss attributable to noncontrolling interest in subsidiary
—

 
—

 
242

 
—

 
242

Net income (loss) attributable to Era Group Inc.
$
(560
)
 
$
7,431

 
$
(4,328
)
 
$
(3,103
)
 
$
(560
)
Supplemental Condensed Consolidating Statements of Operations for the Nine Months Ended September 30, 2017
 
Parent
 
Guarantors
 
Non-guarantors
 
Eliminations
 
Consolidated
 
(in thousands)
Operating revenues
$
—

 
$
151,550

 
$
46,132

 
$
(23,892
)
 
$
173,790

Costs and expenses:
 
 
 
 
 
 
 
 
 
Operating
—

 
98,117

 
48,854

 
(23,892
)
 
123,079

Administrative and general
5,280

 
21,648

 
4,283

 
—

 
31,211

Depreciation
—

 
34,898

 
737

 
—

 
35,635

Total costs and expenses
5,280

 
154,663

 
53,874

 
(23,892
)
 
189,925

Gains on asset dispositions, net
—

 
5,048

 
—

 
—

 
5,048

Loss on impairment
—

 
(116,586
)
 
(432
)
 
—

 
(117,018
)
Operating income (loss)
(5,280
)
 
(114,651
)
 
(8,174
)
 
—

 
(128,105
)
Other income (expense):
 
 
 
 
 
 
 
 
 
Interest income
96

 
320

 
225

 
—

 
641

Interest expense
(10,800
)
 
(627
)
 
(193
)
 
—

 
(11,620
)
Foreign currency gains (losses), net
220

 
253

 
(569
)
 
—

 
(96
)
Other, net
—

 
—

 
(29
)
 
—

 
(29
)
Total other income (expense)
(10,484
)
 
(54
)
 
(566
)
 
—

 
(11,104
)
Income (loss) before income taxes and equity earnings
(15,764
)
 
(114,705
)
 
(8,740
)
 
—

 
(139,209
)
Income tax expense (benefit)
(5,297
)
 
(43,282
)
 
513

 
—

 
(48,066
)
Income (loss) before equity earnings
(10,467
)
 
(71,423
)
 
(9,253
)
 
—

 
(91,143
)
Equity earnings, net of tax
—

 
1,069

 
—

 
—

 
1,069

Equity in earnings (losses) of subsidiaries
(79,388
)
 
—

 
—

 
79,388

 
—

Net income (loss)
(89,855
)
 
(70,354
)
 
(9,253
)
 
79,388

 
(90,074
)
Net loss attributable to noncontrolling interest in subsidiary
—

 
—

 
219

 
—

 
219

Net income (loss) attributable to Era Group Inc.
$
(89,855
)
 
$
(70,354
)
 
$
(9,034
)
 
$
79,388

 
$
(89,855
)
Supplemental Condensed Consolidating Statements of Operations for the Nine Months Ended September 30, 2016
 
Parent
 
Guarantors
 
Non-guarantors
 
Eliminations
 
Consolidated
 
(in thousands)
Operating revenues
$
—

 
$
175,607

 
$
47,669

 
$
(32,337
)
 
$
190,939

Costs and expenses:
 
 
 
 
 
 
 
 
 
Operating
—

 
107,127

 
57,284

 
(32,337
)
 
132,074

Administrative and general
2,657

 
21,233

 
2,981

 
—

 
26,871

Depreciation
—

 
37,144

 
832

 
—

 
37,976

Total costs and expenses
2,657

 
165,504

 
61,097

 
(32,337
)
 
196,921

Gains on asset dispositions, net
—

 
4,282

 
(248
)
 
—

 
4,034

Operating income (loss)
(2,657
)
 
14,385

 
(13,676
)
 
—

 
(1,948
)
Other income (expense):
 
 
 
 
 
 
 
 
 
Interest income
37

 
358

 
775

 
—

 
1,170

Interest expense
(11,765
)
 
(671
)
 
(445
)
 
—

 
(12,881
)
Foreign currency gains (losses), net
45

 
(142
)
 
674

 
—

 
577

Gain on debt extinguishment
518

 
—

 
—

 
—

 
518

Other, net
—

 
2

 
61

 
—

 
63

Total other income (expense)
(11,165
)
 
(453
)
 
1,065

 
—

 
(10,553
)
Income (loss) before income taxes and equity earnings
(13,822
)
 
13,932

 
(12,611
)
 
—

 
(12,501
)
Income tax benefit
(2,323
)
 
146

 
—

 
—

 
(2,177
)
Income (loss) before equity earnings
(11,499
)
 
13,786

 
(12,611
)
 
—

 
(10,324
)
Equity earnings, net of tax
—

 
1,062

 
—

 
—

 
1,062

Equity in earnings (losses) of subsidiaries
9,059

 
—

 
—

 
(9,059
)
 
—

Net income (loss)
(2,440
)
 
14,848

 
(12,611
)
 
(9,059
)
 
(9,262
)
Net loss attributable to noncontrolling interest in subsidiary
—

 
6,349

 
473

 
—

 
6,822

Net income (loss) attributable to Era Group Inc.
$
(2,440
)
 
$
21,197

 
$
(12,138
)
 
$
(9,059
)
 
$
(2,440
)
Condensed Statement of Comprehensive Income
Supplemental Condensed Consolidating Statements of Comprehensive Income for the Three Months Ended September 30, 2017
 
Parent
 
Guarantors
 
Non-guarantors
 
Eliminations
 
Consolidated
 
(in thousands)
Net income (loss)
$
(81,448
)
 
$
(76,247
)
 
$
(1,052
)
 
$
77,532

 
$
(81,215
)
Other comprehensive income (loss):
 
 
 
 
 
 
 
 
 
Foreign currency translation adjustments
—

 
—

 
—

 
—

 
—

Income tax benefit
—

 
—

 
—

 
—

 
—

Total other comprehensive income (loss)
—

 
—

 
—

 
—

 
—

Comprehensive income (loss)
(81,448
)
 
(76,247
)
 
(1,052
)
 
77,532

 
(81,215
)
Comprehensive income attributable to noncontrolling interest in subsidiary
—

 
—

 
(233
)
 
—

 
(233
)
Comprehensive income (loss) attributable to Era Group Inc.
$
(81,448
)
 
$
(76,247
)
 
$
(1,285
)
 
$
77,532

 
$
(81,448
)

Supplemental Condensed Consolidating Statements of Comprehensive Income for the Three Months Ended September 30, 2016
 
Parent
 
Guarantors
 
Non-guarantors
 
Eliminations
 
Consolidated
 
(in thousands)
Net income (loss)
$
(560
)
 
$
7,431

 
$
(4,570
)
 
$
(3,103
)
 
$
(802
)
Other comprehensive loss:
 
 
 
 
 
 
 
 
 
Foreign currency translation adjustments
—

 
—

 
—

 
—

 
—

Income tax benefit
—

 
—

 
—

 
—

 
—

Total other comprehensive loss
—

 
—

 
—

 
—

 
—

Comprehensive income (loss)
(560
)
 
7,431

 
(4,570
)
 
(3,103
)
 
(802
)
Comprehensive loss attributable to noncontrolling interest in subsidiary
—

 
—

 
242

 
—

 
242

Comprehensive income (loss) attributable to Era Group Inc.
$
(560
)
 
$
7,431

 
$
(4,328
)
 
$
(3,103
)
 
$
(560
)
Supplemental Condensed Consolidating Statements of Comprehensive Income for the Nine Months Ended September 30, 2017
 
Parent
 
Guarantors
 
Non-guarantors
 
Eliminations
 
Consolidated
 
(in thousands)
Net income (loss)
$
(89,855
)
 
$
(70,354
)
 
$
(9,253
)
 
$
79,388

 
$
(90,074
)
Other comprehensive loss:
 
 
 
 
 
 
 
 
 
Foreign currency translation adjustments
—

 
(2
)
 
—

 
—

 
(2
)
Income tax benefit
—

 
—

 
—

 
—

 
—

Total other comprehensive loss
—

 
(2
)
 
—

 
—

 
(2
)
Comprehensive income (loss)
(89,855
)
 
(70,356
)
 
(9,253
)
 
79,388

 
(90,076
)
Comprehensive loss attributable to noncontrolling interest in subsidiary
—

 
—

 
219

 
—

 
219

Comprehensive income (loss) attributable to Era Group Inc.
$
(89,855
)
 
$
(70,356
)
 
$
(9,034
)
 
$
79,388

 
$
(89,857
)

Supplemental Condensed Consolidating Statements of Comprehensive Income for the Nine Months Ended September 30, 2016
 
Parent
 
Guarantors
 
Non-guarantors
 
Eliminations
 
Consolidated
 
(in thousands)
Net income (loss)
$
(2,440
)
 
$
14,848

 
$
(12,611
)
 
$
(9,059
)
 
$
(9,262
)
Other comprehensive loss:
 
 
 
 
 
 
 
 
 
Foreign currency translation adjustments
—

 
—

 
—

 
—

 
—

Income tax benefit
—

 
—

 
—

 
—

 
—

Total other comprehensive loss
—

 
—

 
—

 
—

 
—

Comprehensive income (loss)
(2,440
)
 
14,848

 
(12,611
)
 
(9,059
)
 
(9,262
)
Comprehensive loss attributable to noncontrolling interest in subsidiary
—

 
6,349

 
473

 
—

 
6,822

Comprehensive income (loss) attributable to Era Group Inc.
$
(2,440
)
 
$
21,197

 
$
(12,138
)
 
$
(9,059
)
 
$
(2,440
)
Condensed Cash Flow Statement
Supplemental Condensed Consolidating Statements of Cash Flows for the Nine Months Ended September 30, 2017
 
Parent
 
Guarantors
 
Non-guarantors
 
Eliminations
 
Consolidated
 
(in thousands)
Net cash provided by (used in) operating activities
$
(267
)
 
$
17,477

 
$
718

 
$
—

 
$
17,928

Cash flows from investing activities:
 
 
 
 
 
 
 
 
 
Purchases of property and equipment
—

 
(13,013
)
 
(108
)
 
—

 
(13,121
)
Proceeds from disposition of property and equipment
—

 
5,690

 
—

 
—

 
5,690

Investments in and advances to equity method investees
—

 
(126
)
 
—

 
—

 
(126
)
Principal payments on notes due from equity investees
—

 
564

 
—

 
—

 
564

Principal payments on third party notes receivable
—

 
94

 
—

 
—

 
94

Escrow deposits on like-kind exchanges, net
—

 
3,777

 
—

 
—

 
3,777

Net cash used in investing activities
—

 
(3,014
)
 
(108
)
 
—

 
(3,122
)
Cash flows from financing activities:
 
 
 
 
 
 
 
 
 
Payments on long-term debt
—

 
(1,247
)
 
(498
)
 
(23,000
)
 
(24,745
)
Proceeds from Revolving Credit Facility
—

 
—

 
—

 
9,000

 
9,000

Proceeds from share award plans
—

 
—

 
—

 
836

 
836

Purchase of treasury shares
—

 
—

 
—

 
(52
)
 
(52
)
Borrowings and repayments of intercompany debt
—

 
(13,216
)
 
—

 
13,216

 
—

Net cash used in financing activities
—

 
(14,463
)
 
(498
)
 
—

 
(14,961
)
Effects of exchange rate changes on cash and cash equivalents
27

 
—

 
74

 
—

 
101

Net increase (decrease) in cash and cash equivalents
(240
)
 
—

 
186

 
—

 
(54
)
Cash and cash equivalents, beginning of period
25,474

 
—

 
1,476

 
—

 
26,950

Cash and cash equivalents, end of period
$
25,234

 
$
—

 
$
1,662

 
$
—

 
$
26,896


Supplemental Condensed Consolidating Statements of Cash Flows for the Nine Months Ended September 30, 2016
 
Parent
 
Guarantors
 
Non-guarantors
 
Eliminations
 
Consolidated
 
(in thousands)
Net cash provided by (used in) operating activities
$
21,127

 
$
26,296

 
$
(940
)
 
$
—

 
$
46,483

Cash flows from investing activities:
 
 
 
 
 
 
 
 
 
Purchases of property and equipment
—

 
(10,537
)
 
(175
)
 
—

 
(10,712
)
Proceeds from disposition of property and equipment
—

 
5,910

 
228

 
—

 
6,138

Return of helicopter deposit
—

 
544

 
—

 
—

 
544

Principal payments on notes due from equity investees
—

 
539

 
—

 
—

 
539

Principal payments on third party notes receivable
—

 
212

 
—

 
—

 
212

Net cash provided by (used in) investing activities
—

 
(3,332
)
 
53

 
—

 
(3,279
)
Cash flows from financing activities:
 
 
 
 
 
 
 
 
 
Payments on long-term debt
—

 
(1,386
)
 
(1,152
)
 
(27,000
)
 
(29,538
)
Proceeds from Revolving Credit Facility
—

 
—

 
—

 
7,000

 
7,000

Extinguishment of long-term debt
—

 
—

 
—

 
(4,331
)
 
(4,331
)
Proceeds from share award plans
—

 
—

 
—

 
836

 
836

Purchase of treasury shares
—

 
—

 
—

 
(161
)
 
(161
)
Borrowings and repayments of intercompany debt
—

 
(23,656
)
 
—

 
23,656

 
—

Net cash used in financing activities
—

 
(25,042
)
 
(1,152
)
 
—

 
(26,194
)
Effects of exchange rate changes on cash and cash equivalents
—

 
346

 
418

 
—

 
764

Net increase (decrease) in cash and cash equivalents
21,127

 
(1,732
)
 
(1,621
)
 
—

 
17,774

Cash and cash equivalents, beginning of period
7,565

 
3,334

 
3,471

 
—

 
14,370

Cash and cash equivalents, end of period
$
28,692

 
$
1,602

 
$
1,850

 
$
—

 
$
32,144