Bristow Group Inc
For the period ended Dec 31, 2023. Filed Mar 6, 2024.
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FY2023 · Filed Mar 6, 2024
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Consolidated Statements of Operations
(In thousands, except per share amounts)
| Twelve Months Ended December 31, 2023 | Nine Months Ended December 31, 2022 | Twelve Months Ended March 31, 2022 | |
|---|---|---|---|
| Revenues: | |||
| Operating revenues | $1,264,298 | $897,880 | $1,139,063 |
| Reimbursable revenues | 33,131 | 24,689 | 46,141 |
| Total revenues | 1,297,429 | 922,569 | 1,185,204 |
| Costs and expenses: | |||
| Operating expenses | 957,593 | 690,691 | 872,857 |
| Reimbursable expenses | 32,810 | 24,179 | 45,557 |
| General and administrative expenses | 181,745 | 123,041 | 159,062 |
| Merger and integration costs | 2,201 | 994 | 3,240 |
| Restructuring costs | — | — | 3,098 |
| Depreciation and amortization expense | 70,606 | 49,587 | 74,981 |
| Total costs and expenses | 1,244,955 | 888,492 | 1,158,795 |
| Loss on impairment | — | (5,187) | (24,835) |
| Gains (losses) on disposal of assets | 1,112 | (480) | 1,347 |
| Earnings (losses) from unconsolidated affiliates | 7,165 | 1,461 | (1,738) |
| Operating income | 60,751 | 29,871 | 1,183 |
| Interest income | 8,646 | 1,651 | 161 |
| Interest expense, net | (41,417) | (30,707) | (41,521) |
| Loss on extinguishment of debt | — | — | (124) |
| Reorganization items, net | (86) | (99) | (621) |
| Loss on sale of subsidiaries | — | — | (2,002) |
| Other, net | (9,882) | 20,363 | 38,505 |
| Total other income (expense), net | (42,739) | (8,792) | (5,602) |
| Income (loss) before income taxes | 18,012 | 21,079 | (4,419) |
| Income tax expense | (24,932) | (7,494) | (11,294) |
| Net income (loss) | (6,920) | 13,585 | (15,713) |
| Net loss (income) attributable to noncontrolling interests | 140 | (57) | (78) |
| Net income (loss) attributable to Bristow Group Inc. | $(6,780) | $13,528 | $(15,791) |
| Earnings (losses) per common share: | |||
| Basic | $(0.24) | $0.48 | $(0.55) |
| Diluted | $(0.24) | $0.47 | $(0.55) |
| Weighted average shares of common stock outstanding: | |||
| Basic | 28,139 | 28,066 | 28,533 |
| Diluted | 28,139 | 28,574 | 28,533 |
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