Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2015
Dec. 31, 2014
Current assets:    
Cash and cash equivalents $ 13,808 $ 40,867
Receivables:    
Trade, net of allowance for doubtful accounts of $1,999 and $1,955 in 2015 and 2014, respectively 39,498 33,390
Other, net of allowance for doubtful accounts of $0 and $437 in 2015 and 2014, respectively 2,513 2,062
Inventories, net 24,932 26,869
Deferred income taxes 2,276 1,996
Prepaid expenses and other 3,055 2,661
Escrow deposits 2,297 0
Total current assets 88,379 107,845
Property and equipment 1,175,693 1,171,267
Accumulated depreciation (311,070) (308,141)
Net property and equipment 864,623 863,126
Equity investments and advances 30,256 31,753
Goodwill 1,589 352
Intangible assets 1,411 0
Other assets 12,522 14,098
Total assets 998,780 1,017,174
Current liabilities:    
Accounts payable and accrued expenses 12,037 15,120
Accrued wages and benefits 7,861 7,521
Accrued interest 3,992 949
Current portion of long-term debt 25,335 27,426
Derivative instruments 71 1,109
Accrued income taxes 7,415 267
Other current liabilities 4,735 3,162
Total current liabilities 61,446 55,554
Long-term debt 242,873 282,118
Deferred income taxes 213,998 217,027
Other liabilities 1,956 2,111
Total liabilities $ 520,273 $ 556,810
Commitments and contingencies
Redeemable noncontrolling interest $ 4,783 $ 0
Era Group Inc. stockholders’ equity:    
Common stock, $0.01 par value, 60,000,000 shares authorized; 20,499,050 and 20,371,672 outstanding in 2015 and 2014, respectively, exclusive of treasury shares 207 204
Additional paid-in capital 432,774 429,109
Retained earnings 43,949 31,797
Treasury shares, at cost, 151,193 and 18,609 shares in 2015 and 2014, respectively (2,632) (551)
Accumulated other comprehensive income, net of tax 92 95
Total Era Group Inc. stockholders’ equity 474,390 460,654
Noncontrolling interest (666) (290)
Total equity 473,724 460,364
Total liabilities, redeemable noncontrolling interest and stockholders’ equity $ 998,780 $ 1,017,174