Bristow Group Inc
For the period ended Mar 31, 2024. Filed May 8, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 8, 2024
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Condensed Consolidated Statements of Cash Flows
| Three Months EndedMarch 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from operating activities: | ||
| Net income (loss) | $6,632 | $(1,525) |
| Adjustments to reconcile net income (loss) to net cash from operating activities: | ||
| Depreciation and amortization expense | 20,893 | 21,248 |
| Losses (gains) on disposal of assets | 113 | (3,256) |
| Earnings from unconsolidated affiliates | (1,419) | (1,037) |
| Deferred income taxes | (1,174) | (9,213) |
| Stock-based compensation expense | 3,519 | 3,311 |
| Amortization of deferred financing fees | 718 | 635 |
| Amortization of deferred contract costs | 836 | — |
| Discount amortization on long-term debt | — | 473 |
| Increase (decrease) in cash resulting from changes in: | ||
| Accounts receivable | (5,026) | 7,071 |
| Inventory, prepaid expenses and other assets | (13,093) | (4,718) |
| Accounts payable, accrued expenses and other liabilities | 14,680 | (6,374) |
| Net cash provided by operating activities | 26,679 | 6,615 |
| Cash flows from investing activities: | ||
| Capital expenditures | (64,562) | (31,537) |
| Proceeds from asset dispositions | 5 | 23,433 |
| Net cash used in investing activities | (64,557) | (8,104) |
| Cash flows from financing activities: | ||
| Proceeds from borrowings | — | 169,508 |
| Debt issuance costs | (810) | (2,714) |
| Repayments of debt | (3,282) | (132,261) |
| Purchase of treasury stock | (1,016) | (385) |
| Net cash provided by (used in) financing activities | (5,108) | 34,148 |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | 2,242 | 4,201 |
| Net increase (decrease) in cash, cash equivalents and restricted cash | (40,744) | 36,860 |
| Cash, cash equivalents and restricted cash at beginning of period | 183,662 | 163,683 |
| Cash, cash equivalents and restricted cash at end of period | $142,918 | $200,543 |
| Cash paid during the period for: | ||
| Interest | $16,910 | $16,315 |
| Income taxes, net | $6,052 | $537 |
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