Bristow Group Inc
For the period ended Dec 31, 2024. Filed Feb 27, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Feb 27, 2025
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Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
| Twelve Months Ended December 31, 2024 | Twelve Months Ended December 31, 2023 | Nine Months Ended December 31, 2022 | |
|---|---|---|---|
| Cash flows from operating activities: | |||
| Net income (loss) | $94,870 | $(6,920) | $13,585 |
| Adjustments to reconcile net income (loss) to net cash from operating activities: | |||
| Depreciation and amortization expense | 83,188 | 85,586 | 59,817 |
| Loss on impairment | — | — | 5,187 |
| Losses (gains) on disposal of assets | 1,045 | (1,112) | 480 |
| Earnings from unconsolidated affiliates, net of dividends received | (3,742) | (6,828) | (1,461) |
| Deferred income taxes | (19,960) | 669 | (5,322) |
| Stock-based compensation expense | 15,792 | 16,459 | 9,921 |
| Amortization of deferred financing fees | 3,318 | 2,847 | 1,172 |
| Amortization of deferred contract costs | 3,611 | — | — |
| Discount amortization on long-term debt | — | 473 | 4,972 |
| Increase (decrease) in cash resulting from changes in: | |||
| Accounts receivable | 9,288 | (27,024) | (15,348) |
| Inventory, prepaid expenses, and other assets | (44,724) | (39,848) | (61,604) |
| Accounts payable, accrued expenses and other liabilities | 34,734 | 7,735 | (24,703) |
| Net cash provided by operating activities | 177,420 | 32,037 | (13,304) |
| Cash flows from investing activities: | |||
| Capital expenditures | (255,393) | (81,507) | (49,574) |
| Proceeds from asset dispositions | 9,439 | 34,188 | 18,032 |
| Acquisition, net of cash received | — | — | (12,600) |
| Net cash used in investing activities | (245,954) | (47,319) | (44,142) |
| Cash flows from financing activities: | |||
| Proceeds from borrowings | 164,576 | 169,508 | — |
| Debt issuance costs | (4,524) | (2,714) | (822) |
| Repayment of debt | (15,401) | (142,046) | (8,560) |
| Exercise of stock options | 507 | — | — |
| Purchase of treasury shares | (4,054) | (2,713) | (11,350) |
| Net cash provided by financing activities | 141,104 | 22,035 | (20,732) |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | (4,951) | 13,226 | (24,153) |
| Net increase in cash, cash equivalents and restricted cash | 67,619 | 19,979 | (102,331) |
| Cash, cash equivalents and restricted cash at beginning of period | 183,662 | 163,683 | 266,014 |
| Cash, cash equivalents and restricted cash at end of period | $251,281 | $183,662 | $163,683 |
| Cash paid during the period for: | |||
| Interest | $43,269 | $39,475 | $17,586 |
| Income taxes, net | $20,781 | $19,279 | $16,841 |
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