Summary of Consolidated Financial Statement by Segment | | | | | | | | | | | | | | | | | | | | | | | For the year ended April 30, 2014 | | Helicopter services | | Heli-One | | Corporate and other | | Inter-segment eliminations | | Consolidated | Revenue from external customers | $ | 1,617,708 |
| | $ | 147,271 |
| | $ | — |
| | $ | — |
| | $ | 1,764,979 |
| Add: Inter-segment revenues | — |
| | 159,906 |
| | — |
| | (159,906 | ) | | — |
| Total revenue | 1,617,708 |
| | 307,177 |
| | — |
| | (159,906 | ) | | 1,764,979 |
| Direct costs (i) | (1,110,957 | ) | | (277,959 | ) | | — |
| | 156,772 |
| | (1,232,144 | ) | Earnings from equity accounted investees | 7,240 |
| | — |
| | — |
| | — |
| | 7,240 |
| General and administration costs | — |
| | — |
| | (95,087 | ) | | — |
| | (95,087 | ) | Adjusted EBITDAR (ii) | 513,991 |
| | 29,218 |
| | (95,087 | ) | | (3,134 | ) | | 444,988 |
| Helicopter lease and associated costs | (227,893 | ) | | — |
| | — |
| | — |
| | (227,893 | ) | Depreciation | | | | | | | | | (144,573 | ) | Asset impairments (note 4) | | | | | | | | | (25,933 | ) | Loss on disposal of assets | | | | | | | | | (6,631 | ) | Operating income | | | | | | | | | 39,958 |
| Interest on long-term debt | | | | | | | | | (153,222 | ) | Foreign exchange loss | | | | | | | | | (6,028 | ) | Other financing charges | | | | | | | | | (23,253 | ) | Income tax expense | | | | | | | | | (28,374 | ) | Net loss | | | | | | | | | $ | (170,919 | ) |
| | (i) | Direct costs in the segment information presented excludes helicopter lease and associated costs. In the consolidated statements of operations these costs are combined. |
| | (ii) | Adjusted EBITDAR is defined as earnings before interest, taxes, depreciation, amortization, helicopter lease and associated costs, restructuring expense, asset impairments, gain (loss) on disposal of assets, foreign exchange gain (loss) and other financing income (charges) or total revenue plus earnings from equity accounted investees less direct costs, excluding helicopter lease and associated costs, and general and administration costs. |
| | | | | | | | | | | | | | | | | | | | | | For the year ended April 30, 2015 | | | | Helicopter services | | Heli-One | | Corporate and other | | Inter-segment eliminations | | Consolidated | Revenue from external customers | $ | 1,557,319 |
| | $ | 150,380 |
| | $ | — |
| | $ | — |
| | $ | 1,707,699 |
| Add: Inter-segment revenues | — |
| | 107,571 |
| | — |
| | (107,571 | ) | | — |
| Total revenue | 1,557,319 |
| | 257,951 |
| | — |
| | (107,571 | ) | | 1,707,699 |
| Direct costs (i) | (1,051,911 | ) | | (235,417 | ) | | — |
| | 105,544 |
| | (1,181,784 | ) | Earnings from equity accounted investees | 11,069 |
| | — |
| | — |
| | — |
| | 11,069 |
| General and administration costs | — |
| | — |
| | (83,857 | ) | | — |
| | (83,857 | ) | Adjusted EBITDAR (ii) | 516,477 |
| | 22,534 |
| | (83,857 | ) | | (2,027 | ) | | 453,127 |
| Helicopter lease and associated costs | (262,748 | ) | | — |
| | — |
| | — |
| | (262,748 | ) | Depreciation | | | | | | | | | (143,653 | ) | Restructuring expense (note 8) | | | | | | | | | (80,347 | ) | Asset impairments (note 4) | | | | | | | | | (553,650 | ) | Loss on disposal of assets | | | | | | | | | (13,407 | ) | Operating loss | | | | | | | | | (600,678 | ) | Interest on long-term debt | | | | | | | | | (126,481 | ) | Foreign exchange loss | | | | | | | | | (25,153 | ) | Other financing charges | | | | | | | | | (17,841 | ) | Income tax expense | | | | | | | | | (24,607 | ) | Net loss | | | | | | | | | $ | (794,760 | ) |
| | (i) | Direct costs in the segment information presented excludes helicopter lease and associated costs. In the consolidated statements of operations these costs are combined. |
| | (ii) | Adjusted EBITDAR is defined as earnings before interest, taxes, depreciation, amortization, helicopter lease and associated costs, restructuring expense, asset impairments, gain (loss) on disposal of assets, foreign exchange gain (loss) and other financing income (charges) or total revenue plus earnings from equity accounted investees less direct costs, excluding helicopter lease and associated costs, and general and administration costs. |
| | | | | | | | | | | | | | | | | | | | | | For the year ended April 30, 2016 | | Helicopter services | | Heli-One | | Corporate and other | | Inter-segment eliminations | | Consolidated | Revenue from external customers | $ | 1,233,125 |
| | $ | 149,364 |
| | $ | — |
| | $ | — |
| | $ | 1,382,489 |
| Add: Inter-segment revenues | — |
| | 88,809 |
| | — |
| | (88,809 | ) | | — |
| Total revenue | 1,233,125 |
| | 238,173 |
| | — |
| | (88,809 | ) | | 1,382,489 |
| Direct costs (i) | (759,936 | ) | | (210,653 | ) | | — |
| | 84,763 |
| | (885,826 | ) | Earnings from equity accounted investees | 6,375 |
| | — |
| | — |
| | — |
| | 6,375 |
| General and administration costs | — |
| | — |
| | (71,480 | ) | | — |
| | (71,480 | ) | Adjusted EBITDAR (ii) | 479,564 |
| | 27,520 |
| | (71,480 | ) | | (4,046 | ) | | 431,558 |
| Helicopter lease and associated costs | (249,750 | ) | | — |
| | — |
| | — |
| | (249,750 | ) | Depreciation | | | | | | | | | (162,150 | ) | Restructuring expense (note 8) | | | | | | | | | (94,691 | ) | Asset impairments (note 4) | | | | | | | | | (225,354 | ) | Loss on disposal of assets | | | | | | | | | (2,795 | ) | Operating loss | | | | | | | | | (303,182 | ) | Interest on long-term debt | | | | | | | | | (116,335 | ) | Foreign exchange loss | | | | | | | | | (12,402 | ) | Other financing income | | | | | | | | | 3,639 |
| Income tax expense | | | | | | | | | (9,506 | ) | Net loss | | | | | | | | | $ | (437,786 | ) |
| | (i) | Direct costs in the segment information presented excludes helicopter lease and associated costs. In the consolidated statements of operations these costs are combined. |
| | (ii) | Adjusted EBITDAR is defined as earnings before interest, taxes, depreciation, amortization, helicopter lease and associated costs, restructuring expense, asset impairments, gain (loss) on disposal of assets, foreign exchange gain (loss) and other financing income (charges) or total revenue plus earnings from equity accounted investees less direct costs, excluding helicopter lease and associated costs, and general and administration costs. |
|
Revenue by Geographic Area | The Company’s revenues by geographic location are as follows: | | | | | | | | | | | | | | Revenue | | For the year ended | | April 30, 2014 | | April 30, 2015 |
| April 30, 2016 | Norway | $ | 520,279 |
| | $ | 479,254 |
| | $ | 410,555 |
| United Kingdom | 282,919 |
| | 274,263 |
| | 208,591 |
| Australia | 249,996 |
| | 251,176 |
| | 201,815 |
| Brazil | 264,815 |
| | 275,806 |
| | 216,885 |
| Asia | 94,172 |
| | 75,122 |
| | 58,334 |
| Other European Countries | 213,475 |
| | 198,020 |
| | 181,358 |
| Other Countries | 139,323 |
| | 154,058 |
| | 104,951 |
| Total | $ | 1,764,979 |
| | $ | 1,707,699 |
| | $ | 1,382,489 |
|
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