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GUARANTORS OF SECURITIES | 6 Months Ended
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Jun. 30, 2017
Guarantees [Abstract] |
GUARANTORS OF SECURITIES | GUARANTORS OF SECURITIES On December 7, 2012, Era Group issued the 7.750% Senior Notes. Era Group’s payment obligations under the 7.750% Senior Notes are jointly and severally guaranteed by all of its existing 100% owned U.S. subsidiaries that guarantee the Revolving Credit Facility and any future U.S. subsidiaries that guarantee the Revolving Credit Facility or other material indebtedness Era Group may incur in the future (the “Guarantors”). All the Guarantors currently guarantee the Revolving Credit Facility, and the guarantees of the Guarantors are full and unconditional and joint and several. As a result of the agreement by these subsidiaries to guarantee the 7.750% Senior Notes, the Company is presenting the following condensed consolidating balance sheets and statements of operations, comprehensive income and cash flows for Era Group (“Parent”), the Guarantors and the Company’s other subsidiaries (“Non-guarantors”). These statements should be read in conjunction with the unaudited condensed consolidated financial statements of the Company. The supplemental condensed consolidating financial information has been prepared pursuant to the rules and regulations for condensed financial information and does not include all disclosures included in annual financial statements. Supplemental Condensed Consolidating Balance Sheet as of June 30, 2017
| Parent |  | Guarantors |  | Non-guarantors |  | Eliminations |  | Consolidated
| (in thousands, except share data)
ASSETS |  |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 27,441 |  |  | $ | — |  |  | $ | 1,437 |  |  | $ | — |  |  | $ | 28,878 |
Receivables: |  |  |  |  |  |  |  |  |
Trade, net of allowance for doubtful accounts of $1,249 | — |  |  | 27,553 |  |  | 5,271 |  |  | — |  |  | 32,824 |
Tax receivable | 9 |  |  | 7 |  |  | 2,984 |  |  | — |  |  | 3,000 |
Other | — |  |  | 2,213 |  |  | 959 |  |  | — |  |  | 3,172 |
Inventories, net | — |  |  | 24,019 |  |  | 277 |  |  | — |  |  | 24,296 |
Prepaid expenses | 516 |  |  | 1,809 |  |  | 193 |  |  | — |  |  | 2,518 |
Escrow deposits | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total current assets | 27,966 |  |  | 55,601 |  |  | 11,121 |  |  | — |  |  | 94,688 |
Property and equipment | — |  |  | 1,147,968 |  |  | 16,080 |  |  | — |  |  | 1,164,048 |
Accumulated depreciation | — |  |  | (351,829 | ) |  | (2,001 | ) |  | — |  |  | (353,830 | )
Property and equipment, net | — |  |  | 796,139 |  |  | 14,079 |  |  | — |  |  | 810,218 |
Equity investments and advances | — |  |  | 29,852 |  |  | — |  |  | — |  |  | 29,852 |
Investments in consolidated subsidiaries | 172,974 |  |  | — |  |  | — |  |  | (172,974 | ) |  | — |
Intangible assets | — |  |  | — |  |  | 1,129 |  |  | — |  |  | 1,129 |
Deferred taxes | 15,445 |  |  | — |  |  | — |  |  | (15,445 | ) |  | — |
Intercompany receivables | 444,558 |  |  | — |  |  | — |  |  | (444,558 | ) |  | — |
Other assets | 1,415 |  |  | 4,116 |  |  | 62 |  |  | — |  |  | 5,593 |
Total assets | $ | 662,358 |  |  | $ | 885,708 |  |  | $ | 26,391 |  |  | $ | (632,977 | ) |  | $ | 941,480 |
LIABILITIES, REDEEMABLE NONCONTROLLING INTEREST AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |  |
Accounts payable and accrued expenses | $ | 174 |  |  | $ | 10,347 |  |  | $ | 2,363 |  |  | $ | — |  |  | $ | 12,884 |
Accrued wages and benefits | — |  |  | 6,905 |  |  | 1,803 |  |  | — |  |  | 8,708 |
Accrued interest | 527 |  |  | — |  |  | — |  |  | — |  |  | 527 |
Accrued income taxes | — |  |  | 259 |  |  | 32 |  |  | — |  |  | 291 |
Accrued other taxes | 9 |  |  | 631 |  |  | 505 |  |  | — |  |  | 1,145 |
Accrued contingencies | — |  |  | — |  |  | 1,334 |  |  | — |  |  | 1,334 |
Current portion of long-term debt | — |  |  | 1,523 |  |  | 638 |  |  | — |  |  | 2,161 |
Other current liabilities | 684 |  |  | 1,492 |  |  | 414 |  |  | — |  |  | 2,590 |
Total current liabilities | 1,394 |  |  | 21,157 |  |  | 7,089 |  |  | — |  |  | 29,640 |
Long-term debt | 198,005 |  |  | 20,811 |  |  | 2,538 |  |  | — |  |  | 221,354 |
Deferred income taxes | — |  |  | 237,289 |  |  | 880 |  |  | (15,445 | ) |  | 222,724 |
Intercompany payables | — |  |  | 404,139 |  |  | 40,419 |  |  | (444,558 | ) |  | — |
Other liabilities | — |  |  | 944 |  |  | — |  |  | — |  |  | 944 |
Total liabilities | 199,399 |  |  | 684,340 |  |  | 50,926 |  |  | (460,003 | ) |  | 474,662 |
Redeemable noncontrolling interest | — |  |  | 4 |  |  | 3,765 |  |  | — |  |  | 3,769 |
Equity: |  |  |  |  |  |  |  |  |
Common stock, $0.01 par value, 60,000,000 shares authorized; 21,270,272 outstanding, exclusive of treasury shares | 215 |  |  | — |  |  | — |  |  | — |  |  | 215 |
Additional paid-in capital | 441,595 |  |  | 100,306 |  |  | 4,562 |  |  | (104,868 | ) |  | 441,595 |
Retained earnings | 24,117 |  |  | 100,968 |  |  | (32,862 | ) |  | (68,106 | ) |  | 24,117 |
Treasury shares, at cost, 179,730 shares | (2,968 | ) |  | — |  |  | — |  |  | — |  |  | (2,968 | )
Accumulated other comprehensive income, net of tax | — |  |  | 90 |  |  | — |  |  | — |  |  | 90 |
Total equity | 462,959 |  |  | 201,364 |  |  | (28,300 | ) |  | (172,974 | ) |  | 463,049 |
Total liabilities, redeemable noncontrolling interest and stockholders’ equity | $ | 662,358 |  |  | $ | 885,708 |  |  | $ | 26,391 |  |  | $ | (632,977 | ) |  | $ | 941,480 |
Supplemental Condensed Consolidating Balance Sheet as of December 31, 2016
| Parent |  | Guarantors |  | Non-guarantors |  | Eliminations |  | Consolidated
| (in thousands, except share data)
ASSETS |  |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 25,474 |  |  | $ | — |  |  | $ | 1,476 |  |  | $ | — |  |  | $ | 26,950 |
Receivables: |  |  |  |  |  |  |  |  |
Trade, net of allowance for doubtful accounts of $1,219 | 39 |  |  | 26,118 |  |  | 6,313 |  |  | — |  |  | 32,470 |
Tax receivables | 9 |  |  | 4 |  |  | 3,448 |  |  | — |  |  | 3,461 |
Other | — |  |  | 1,658 |  |  | 1,058 |  |  | — |  |  | 2,716 |
Inventories, net | — |  |  | 25,156 |  |  | 261 |  |  | — |  |  | 25,417 |
Prepaid expenses | 359 |  |  | 976 |  |  | 244 |  |  | — |  |  | 1,579 |
Escrow deposits | — |  |  | 3,777 |  |  | — |  |  | — |  |  | 3,777 |
Total current assets | 25,881 |  |  | 57,689 |  |  | 12,800 |  |  | — |  |  | 96,370 |
Property and equipment | — |  |  | 1,138,020 |  |  | 16,008 |  |  | — |  |  | 1,154,028 |
Accumulated depreciation | — |  |  | (330,735 | ) |  | (1,484 | ) |  | — |  |  | (332,219 | )
Net property and equipment | — |  |  | 807,285 |  |  | 14,524 |  |  | — |  |  | 821,809 |
Equity investments and advances | — |  |  | 29,266 |  |  | — |  |  | — |  |  | 29,266 |
Investments in consolidated subsidiaries | 174,830 |  |  | — |  |  | — |  |  | (174,830 | ) |  | — |
Intangible assets | — |  |  | — |  |  | 1,137 |  |  | — |  |  | 1,137 |
Deferred income taxes | 12,262 |  |  | — |  |  | — |  |  | (12,262 | ) |  | — |
Intercompany receivables | 460,623 |  |  | — |  |  | — |  |  | (460,623 | ) |  | — |
Other assets | 1,820 |  |  | 4,723 |  |  | 48 |  |  | — |  |  | 6,591 |
Total assets | $ | 675,416 |  |  | $ | 898,963 |  |  | $ | 28,509 |  |  | $ | (647,715 | ) |  | $ | 955,173 |
LIABILITIES, REDEEMABLE NONCONTROLLING INTEREST AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |  |
Accounts payable and accrued expenses | $ | 322 |  |  | $ | 6,273 |  |  | $ | 2,281 |  |  | $ | — |  |  | $ | 8,876 |
Accrued wages and benefits | — |  |  | 6,446 |  |  | 2,061 |  |  | — |  |  | 8,507 |
Accrued interest | 529 |  |  | — |  |  | — |  |  | — |  |  | 529 |
Accrued income taxes | — |  |  | 653 |  |  | 13 |  |  | — |  |  | 666 |
Current portion of long-term debt | — |  |  | 1,524 |  |  | 615 |  |  | — |  |  | 2,139 |
Accrued other taxes | 29 |  |  | 645 |  |  | 773 |  |  | — |  |  | 1,447 |
Accrued contingencies | — |  |  | — |  |  | 1,237 |  |  | — |  |  | 1,237 |
Other current liabilities | 481 |  |  | 1,525 |  |  | 216 |  |  | — |  |  | 2,222 |
Total current liabilities | 1,361 |  |  | 17,066 |  |  | 7,196 |  |  | — |  |  | 25,623 |
Long-term debt | 205,730 |  |  | 21,642 |  |  | 2,767 |  |  | — |  |  | 230,139 |
Deferred income taxes | — |  |  | 237,067 |  |  | 667 |  |  | (12,262 | ) |  | 225,472 |
Intercompany payables | — |  |  | 426,410 |  |  | 34,213 |  |  | (460,623 | ) |  | — |
Other liabilities | — |  |  | 1,301 |  |  | — |  |  | — |  |  | 1,301 |
Total liabilities | 207,091 |  |  | 703,486 |  |  | 44,843 |  |  | (472,885 | ) |  | 482,535 |
Redeemable noncontrolling interest | — |  |  | 4 |  |  | 4,217 |  |  | — |  |  | 4,221 |
Equity: |  |  |  |  |  |  |  |  |
Common stock, $0.01 par value, 60,000,000 shares authorized; 20,936,636 shares outstanding, exclusive of treasury shares | 211 |  |  | — |  |  | — |  |  | — |  |  | 211 |
Additional paid-in capital | 438,489 |  |  | 100,306 |  |  | 4,562 |  |  | (104,868 | ) |  | 438,489 |
Retained earnings | 32,524 |  |  | 95,075 |  |  | (25,113 | ) |  | (69,962 | ) |  | 32,524 |
Treasury shares, at cost, 175,350 shares | (2,899 | ) |  | — |  |  | — |  |  | — |  |  | (2,899 | )
Accumulated other comprehensive income, net of tax | — |  |  | 92 |  |  | — |  |  | — |  |  | 92 |
Total equity | 468,325 |  |  | 195,473 |  |  | (20,551 | ) |  | (174,830 | ) |  | 468,417 |
Total liabilities, redeemable noncontrolling interest and stockholders’ equity | $ | 675,416 |  |  | $ | 898,963 |  |  | $ | 28,509 |  |  | $ | (647,715 | ) |  | $ | 955,173 |
Supplemental Condensed Consolidating Statements of Operations for the Three Months Ended June 30, 2017
| Parent |  | Guarantors |  | Non-guarantors |  | Eliminations |  | Consolidated
| (in thousands)
Operating revenues | $ | — |  |  | $ | 51,598 |  |  | $ | 14,003 |  |  | $ | (7,723 | ) |  | $ | 57,878 |
Costs and expenses: |  |  |  |  |  |  |  |  |
Operating | — |  |  | 33,178 |  |  | 15,880 |  |  | (7,723 | ) |  | 41,335 |
Administrative and general | 1,110 |  |  | 7,304 |  |  | 1,488 |  |  | — |  |  | 9,902 |
Depreciation | — |  |  | 11,727 |  |  | 251 |  |  | — |  |  | 11,978 |
Total costs and expenses | 1,110 |  |  | 52,209 |  |  | 17,619 |  |  | (7,723 | ) |  | 63,215 |
Gains on asset dispositions, net | — |  |  | 5,061 |  |  | — |  |  | — |  |  | 5,061 |
Operating income (loss) | (1,110 | ) |  | 4,450 |  |  | (3,616 | ) |  | — |  |  | (276 | )
Other income (expense): |  |  |  |  |  |  |  |  |
Interest income | 28 |  |  | 107 |  |  | 50 |  |  | — |  |  | 185 |
Interest expense | (3,721 | ) |  | (159 | ) |  | (54 | ) |  | — |  |  | (3,934 | )
Foreign currency gains (losses), net | 129 |  |  | 160 |  |  | (425 | ) |  | — |  |  | (136 | )
Other, net | — |  |  | 1 |  |  | (9 | ) |  | — |  |  | (8 | )
Total other income (expense) | (3,564 | ) |  | 109 |  |  | (438 | ) |  | — |  |  | (3,893 | )
Income (loss) before income taxes and equity earnings | (4,674 | ) |  | 4,559 |  |  | (4,054 | ) |  | — |  |  | (4,169 | )
Income tax expense (benefit) | (1,307 | ) |  | 10 |  |  | 571 |  |  | — |  |  | (726 | )
Income (loss) before equity earnings | (3,367 | ) |  | 4,549 |  |  | (4,625 | ) |  | — |  |  | (3,443 | )
Equity earnings, net of tax | — |  |  | 371 |  |  | — |  |  | — |  |  | 371 |
Equity in earnings (losses) of subsidiaries | 580 |  |  | — |  |  | — |  |  | (580 | ) |  | — |
Net income (loss) | (2,787 | ) |  | 4,920 |  |  | (4,625 | ) |  | (580 | ) |  | (3,072 | )
Net loss attributable to noncontrolling interest in subsidiary | — |  |  | — |  |  | 285 |  |  | — |  |  | 285 |
Net income (loss) attributable to Era Group Inc. | $ | (2,787 | ) |  | $ | 4,920 |  |  | $ | (4,340 | ) |  | $ | (580 | ) |  | $ | (2,787 | )
Supplemental Condensed Consolidating Statements of Operations for the Three Months Ended June 30, 2016
| Parent |  | Guarantors |  | Non-guarantors |  | Eliminations |  | Consolidated
| (in thousands)
Operating revenues | $ | — |  |  | $ | 57,392 |  |  | $ | 17,788 |  |  | $ | (11,829 | ) |  | $ | 63,351 |
Costs and expenses: |  |  |  |  |  |  |  |  |
Operating | — |  |  | 38,760 |  |  | 20,465 |  |  | (11,829 | ) |  | 47,396 |
Administrative and general | 871 |  |  | 6,875 |  |  | 394 |  |  | — |  |  | 8,140 |
Depreciation | — |  |  | 12,414 |  |  | 277 |  |  | — |  |  | 12,691 |
Total costs and expenses | 871 |  |  | 58,049 |  |  | 21,136 |  |  | (11,829 | ) |  | 68,227 |
Gains on asset dispositions, net | — |  |  | 1,367 |  |  | — |  |  | — |  |  | 1,367 |
Operating income | (871 | ) |  | 710 |  |  | (3,348 | ) |  | — |  |  | (3,509 | )
Other income (expense): |  |  |  |  |  |  |  |  |
Interest income | 9 |  |  | 119 |  |  | 275 |  |  | — |  |  | 403 |
Interest expense | (3,841 | ) |  | (136 | ) |  | (153 | ) |  | — |  |  | (4,130 | )
Foreign currency gains (losses), net | (52 | ) |  | (110 | ) |  | 491 |  |  | — |  |  | 329 |
Gain on debt extinguishment | 518 |  |  | — |  |  | — |  |  | — |  |  | 518 |
Other, net | — |  |  | 1 |  |  | 45 |  |  | — |  |  | 46 |
Total other income (expense) | (3,366 | ) |  | (126 | ) |  | 658 |  |  | — |  |  | (2,834 | )
Income (loss) before income taxes and equity earnings | (4,237 | ) |  | 584 |  |  | (2,690 | ) |  | — |  |  | (6,343 | )
Income tax benefit | (490 | ) |  | (742 | ) |  | — |  |  | — |  |  | (1,232 | )
Income (loss) before equity earnings | (3,747 | ) |  | 1,326 |  |  | (2,690 | ) |  | — |  |  | (5,111 | )
Equity losses, net of tax | — |  |  | 601 |  |  | — |  |  | — |  |  | 601 |
Equity in earnings (losses) of subsidiaries | 5,685 |  |  | — |  |  | — |  |  | (5,685 | ) |  | — |
Net income (loss) | 1,938 |  |  | 1,927 |  |  | (2,690 | ) |  | (5,685 | ) |  | (4,510 | )
Net loss attributable to noncontrolling interest in subsidiary | — |  |  | 6,349 |  |  | 99 |  |  | — |  |  | 6,448 |
Net income (loss) attributable to Era Group Inc. | $ | 1,938 |  |  | $ | 8,276 |  |  | $ | (2,591 | ) |  | $ | (5,685 | ) |  | $ | 1,938 |
Supplemental Condensed Consolidating Statements of Operations for the Six Months Ended June 30, 2017
| Parent |  | Guarantors |  | Non-guarantors |  | Eliminations |  | Consolidated
| (in thousands)
Operating revenues | $ | — |  |  | $ | 99,631 |  |  | $ | 29,403 |  |  | $ | (16,629 | ) |  | $ | 112,405 |
Costs and expenses: |  |  |  |  |  |  |  |  |
Operating | — |  |  | 62,291 |  |  | 33,430 |  |  | (16,629 | ) |  | 79,092 |
Administrative and general | 2,975 |  |  | 14,342 |  |  | 2,966 |  |  | — |  |  | 20,283 |
Depreciation | — |  |  | 23,047 |  |  | 485 |  |  | — |  |  | 23,532 |
Total costs and expenses | 2,975 |  |  | 99,680 |  |  | 36,881 |  |  | (16,629 | ) |  | 122,907 |
Gains on asset dispositions, net | — |  |  | 5,170 |  |  | — |  |  | — |  |  | 5,170 |
Operating income (loss) | (2,975 | ) |  | 5,121 |  |  | (7,478 | ) |  | — |  |  | (5,332 | )
Other income (expense): |  |  |  |  |  |  |  |  |
Interest income | 49 |  |  | 218 |  |  | 168 |  |  | — |  |  | 435 |
Interest expense | (6,962 | ) |  | (457 | ) |  | (104 | ) |  | — |  |  | (7,523 | )
Foreign currency gains (losses), net | 154 |  |  | 168 |  |  | (430 | ) |  | — |  |  | (108 | )
Other, net | — |  |  | 1 |  |  | 3 |  |  | — |  |  | 4 |
Total other income (expense) | (6,759 | ) |  | (70 | ) |  | (363 | ) |  | — |  |  | (7,192 | )
Income (loss) before income taxes and equity earnings | (9,734 | ) |  | 5,051 |  |  | (7,841 | ) |  | — |  |  | (12,524 | )
Income tax expense (benefit) | (3,183 | ) |  | (6 | ) |  | 360 |  |  | — |  |  | (2,829 | )
Income (loss) before equity earnings | (6,551 | ) |  | 5,057 |  |  | (8,201 | ) |  | — |  |  | (9,695 | )
Equity earnings, net of tax | — |  |  | 836 |  |  | — |  |  | — |  |  | 836 |
Equity in earnings (losses) of subsidiaries | (1,856 | ) |  | — |  |  | — |  |  | 1,856 |  |  | — |
Net income (loss) | (8,407 | ) |  | 5,893 |  |  | (8,201 | ) |  | 1,856 |  |  | (8,859 | )
Net loss attributable to noncontrolling interest in subsidiary | — |  |  | — |  |  | 452 |  |  | — |  |  | 452 |
Net income (loss) attributable to Era Group Inc. | $ | (8,407 | ) |  | $ | 5,893 |  |  | $ | (7,749 | ) |  | $ | 1,856 |  |  | $ | (8,407 | )
Supplemental Condensed Consolidating Statements of Operations for the Six Months Ended June 30, 2016
| Parent |  | Guarantors |  | Non-guarantors |  | Eliminations |  | Consolidated
| (in thousands)
Operating revenues | $ | — |  |  | $ | 116,477 |  |  | $ | 31,883 |  |  | $ | (22,427 | ) |  | $ | 125,933 |
Costs and expenses: |  |  |  |  |  |  |  |  |
Operating | — |  |  | 75,368 |  |  | 38,762 |  |  | (22,427 | ) |  | 91,703 |
Administrative and general | 1,919 |  |  | 13,959 |  |  | 1,489 |  |  | — |  |  | 17,367 |
Depreciation | — |  |  | 24,900 |  |  | 557 |  |  | — |  |  | 25,457 |
Total costs and expenses | 1,919 |  |  | 114,227 |  |  | 40,808 |  |  | (22,427 | ) |  | 134,527 |
Gains on asset dispositions, net | — |  |  | 4,280 |  |  | — |  |  | — |  |  | 4,280 |
Operating income | (1,919 | ) |  | 6,530 |  |  | (8,925 | ) |  | — |  |  | (4,314 | )
Other income (expense): |  |  |  |  |  |  |  |  |
Interest income | 13 |  |  | 242 |  |  | 449 |  |  | — |  |  | 704 |
Interest expense | (8,184 | ) |  | (284 | ) |  | (410 | ) |  | — |  |  | (8,878 | )
Foreign currency gains (losses), net | 17 |  |  | (224 | ) |  | 817 |  |  | — |  |  | 610 |
Gain on debt extinguishment | 518 |  |  | — |  |  | — |  |  | — |  |  | 518 |
Other, net | — |  |  | 1 |  |  | 28 |  |  | — |  |  | 29 |
Total other income (expense) | (7,636 | ) |  | (265 | ) |  | 884 |  |  | — |  |  | (7,017 | )
Income (loss) before income taxes and equity earnings | (9,555 | ) |  | 6,265 |  |  | (8,041 | ) |  | — |  |  | (11,331 | )
Income tax benefit | (1,719 | ) |  | (527 | ) |  | — |  |  | — |  |  | (2,246 | )
Income (loss) before equity earnings | (7,836 | ) |  | 6,792 |  |  | (8,041 | ) |  | — |  |  | (9,085 | )
Equity losses, net of tax | — |  |  | 625 |  |  | — |  |  | — |  |  | 625 |
Equity in earnings (losses) of subsidiaries | 5,956 |  |  | — |  |  | — |  |  | (5,956 | ) |  | — |
Net income (loss) | (1,880 | ) |  | 7,417 |  |  | (8,041 | ) |  | (5,956 | ) |  | (8,460 | )
Net loss attributable to noncontrolling interest in subsidiary | — |  |  | 6,349 |  |  | 231 |  |  | — |  |  | 6,580 |
Net income (loss) attributable to Era Group Inc. | $ | (1,880 | ) |  | $ | 13,766 |  |  | $ | (7,810 | ) |  | $ | (5,956 | ) |  | $ | (1,880 | )
Supplemental Condensed Consolidating Statements of Comprehensive Income for the Three Months Ended June 30, 2017
| Parent |  | Guarantors |  | Non-guarantors |  | Eliminations |  | Consolidated
| (in thousands)
Net income (loss) | $ | (2,787 | ) |  | $ | 4,920 |  |  | $ | (4,625 | ) |  | $ | (580 | ) |  | $ | (3,072 | )
Other comprehensive income (loss): |  |  |  |  |  |  |  |  |
Foreign currency translation adjustments | — |  |  | — |  |  | — |  |  | — |  |  | — |
Income tax benefit | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total other comprehensive income (loss) | — |  |  | — |  |  | — |  |  | — |  |  | — |
Comprehensive income (loss) | (2,787 | ) |  | 4,920 |  |  | (4,625 | ) |  | (580 | ) |  | (3,072 | )
Comprehensive loss attributable to noncontrolling interest in subsidiary | — |  |  | — |  |  | 285 |  |  | — |  |  | 285 |
Comprehensive income (loss) attributable to Era Group Inc. | $ | (2,787 | ) |  | $ | 4,920 |  |  | $ | (4,340 | ) |  | $ | (580 | ) |  | $ | (2,787 | )
Supplemental Condensed Consolidating Statements of Comprehensive Income for the Three Months Ended June 30, 2016
| Parent |  | Guarantors |  | Non-guarantors |  | Eliminations |  | Consolidated
| (in thousands)
Net income (loss) | $ | 1,938 |  |  | $ | 1,927 |  |  | $ | (2,690 | ) |  | $ | (5,685 | ) |  | $ | (4,510 | )
Other comprehensive loss: |  |  |  |  |  |  |  |  |
Foreign currency translation adjustments | — |  |  | — |  |  | — |  |  | — |  |  | — |
Income tax benefit | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total other comprehensive loss | — |  |  | — |  |  | — |  |  | — |  |  | — |
Comprehensive income (loss) | 1,938 |  |  | 1,927 |  |  | (2,690 | ) |  | (5,685 | ) |  | (4,510 | )
Comprehensive income attributable to noncontrolling interest in subsidiary | — |  |  | 6,349 |  |  | 99 |  |  | — |  |  | 6,448 |
Comprehensive income (loss) attributable to Era Group Inc. | $ | 1,938 |  |  | $ | 8,276 |  |  | $ | (2,591 | ) |  | $ | (5,685 | ) |  | $ | 1,938 |
plemental Condensed Consolidating Statements of Comprehensive Income for the Six Months Ended June 30, 2017
| Parent |  | Guarantors |  | Non-guarantors |  | Eliminations |  | Consolidated
| (in thousands)
Net income (loss) | $ | (8,407 | ) |  | $ | 5,893 |  |  | $ | (8,201 | ) |  | $ | 1,856 |  |  | $ | (8,859 | )
Other comprehensive loss: |  |  |  |  |  |  |  |  |
Foreign currency translation adjustments | — |  |  | (2 | ) |  | — |  |  | — |  |  | (2 | )
Income tax benefit | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total other comprehensive loss | — |  |  | (2 | ) |  | — |  |  | — |  |  | (2 | )
Comprehensive income (loss) | (8,407 | ) |  | 5,891 |  |  | (8,201 | ) |  | 1,856 |  |  | (8,861 | )
Comprehensive loss attributable to noncontrolling interest in subsidiary | — |  |  | — |  |  | 452 |  |  | — |  |  | 452 |
Comprehensive income (loss) attributable to Era Group Inc. | $ | (8,407 | ) |  | $ | 5,891 |  |  | $ | (7,749 | ) |  | $ | 1,856 |  |  | $ | (8,409 | )
Supplemental Condensed Consolidating Statements of Comprehensive Income for the Six Months Ended June 30, 2016
| Parent |  | Guarantors |  | Non-guarantors |  | Eliminations |  | Consolidated
| (in thousands)
Net income (loss) | $ | (1,880 | ) |  | $ | 7,417 |  |  | $ | (8,041 | ) |  | $ | (5,956 | ) |  | $ | (8,460 | )
Other comprehensive loss: |  |  |  |  |  |  |  |  |
Foreign currency translation adjustments | — |  |  | — |  |  | — |  |  | — |  |  | — |
Income tax benefit | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total other comprehensive loss | — |  |  | — |  |  | — |  |  | — |  |  | — |
Comprehensive income (loss) | (1,880 | ) |  | 7,417 |  |  | (8,041 | ) |  | (5,956 | ) |  | (8,460 | )
Comprehensive loss attributable to noncontrolling interest in subsidiary | — |  |  | 6,349 |  |  | 231 |  |  | — |  |  | 6,580 |
Comprehensive income (loss) attributable to Era Group Inc. | $ | (1,880 | ) |  | $ | 13,766 |  |  | $ | (7,810 | ) |  | $ | (5,956 | ) |  | $ | (1,880 | )
Supplemental Condensed Consolidating Statements of Cash Flows for the Six Months Ended June 30, 2017
| Parent |  | Guarantors |  | Non-guarantors |  | Eliminations |  | Consolidated
| (in thousands)
Net cash provided by (used in) operating activities | $ | 1,967 |  |  | $ | 11,086 |  |  | $ | 321 |  |  | $ | — |  |  | $ | 13,374 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Purchases of property and equipment | — |  |  | (12,490 | ) |  | (34 | ) |  | — |  |  | (12,524 | )
Proceeds from disposition of property and equipment | — |  |  | 5,689 |  |  | — |  |  | — |  |  | 5,689 |
Investments in and advances to equity method investees | — |  |  | (126 | ) |  | — |  |  | — |  |  | (126 | )
Principal payments on notes due from equity investees | — |  |  | 375 |  |  | — |  |  | — |  |  | 375 |
Principal payments on third party notes receivable | — |  |  | 94 |  |  | — |  |  | — |  |  | 94 |
Escrow deposits on like-kind exchanges, net | — |  |  | 3,777 |  |  | — |  |  | — |  |  | 3,777 |
Net cash provided by (used in) investing activities | — |  |  | (2,681 | ) |  | (34 | ) |  | — |  |  | (2,715 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Payments on long-term debt | — |  |  | (832 | ) |  | (330 | ) |  | (17,000 | ) |  | (18,162 | )
Proceeds from Revolving Credit Facility | — |  |  | — |  |  | — |  |  | 9,000 |  |  | 9,000 |
Proceeds from share award plans | — |  |  | — |  |  | — |  |  | 463 |  |  | 463 |
Purchase of treasury shares | — |  |  | — |  |  | — |  |  | (51 | ) |  | (51 | )
Borrowings and repayments of intercompany debt | — |  |  | (7,588 | ) |  | — |  |  | 7,588 |  |  | — |
Net cash used in financing activities | — |  |  | (8,420 | ) |  | (330 | ) |  | — |  |  | (8,750 | )
Effects of exchange rate changes on cash and cash equivalents | — |  |  | 15 |  |  | 4 |  |  | — |  |  | 19 |
Net increase (decrease) in cash and cash equivalents | 1,967 |  |  | — |  |  | (39 | ) |  | — |  |  | 1,928 |
Cash and cash equivalents, beginning of period | 25,474 |  |  | — |  |  | 1,476 |  |  | — |  |  | 26,950 |
Cash and cash equivalents, end of period | $ | 27,441 |  |  | $ | — |  |  | $ | 1,437 |  |  | $ | — |  |  | $ | 28,878 |
Supplemental Condensed Consolidating Statements of Cash Flows for the Six Months Ended June 30, 2016
| Parent |  | Guarantors |  | Non-guarantors |  | Eliminations |  | Consolidated
| (in thousands)
Net cash provided by (used in) operating activities | $ | 28,465 |  |  | $ | 1,126 |  |  | $ | (1,030 | ) |  | $ | — |  |  | $ | 28,561 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Purchases of property and equipment | — |  |  | (4,974 | ) |  | (132 | ) |  | — |  |  | (5,106 | )
Proceeds from disposition of property and equipment | — |  |  | 5,910 |  |  | — |  |  | — |  |  | 5,910 |
Return of helicopter deposit | — |  |  | 544 |  |  | — |  |  | — |  |  | 544 |
Principal payments on notes due from equity investees | — |  |  | 357 |  |  | — |  |  | — |  |  | 357 |
Principal payments on third party notes receivable | — |  |  | 136 |  |  | — |  |  | — |  |  | 136 |
Net cash used in investing activities | — |  |  | 1,973 |  |  | (132 | ) |  | — |  |  | 1,841 |
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Payments on long-term debt | — |  |  | (970 | ) |  | (1,123 | ) |  | (7,000 | ) |  | (9,093 | )
Proceeds from Revolving Credit Facility | — |  |  | — |  |  | — |  |  | 7,000 |  |  | 7,000 |
Extinguishment of long-term debt | — |  |  | — |  |  | — |  |  | (4,331 | ) |  | (4,331 | )
Proceeds from share award plans | — |  |  | — |  |  | — |  |  | 477 |  |  | 477 |
Purchase of treasury shares | — |  |  | — |  |  | — |  |  | (161 | ) |  | (161 | )
Borrowings and repayments of intercompany debt | — |  |  | (4,015 | ) |  | — |  |  | 4,015 |  |  | — |
Net cash used in financing activities | — |  |  | (4,985 | ) |  | (1,123 | ) |  | — |  |  | (6,108 | )
Effects of exchange rate changes on cash and cash equivalents | — |  |  | 320 |  |  | 176 |  |  | — |  |  | 496 |
Net increase (decrease) in cash and cash equivalents | 28,465 |  |  | (1,566 | ) |  | (2,109 | ) |  | — |  |  | 24,790 |
Cash and cash equivalents, beginning of period | 7,565 |  |  | 3,334 |  |  | 3,471 |  |  | — |  |  | 14,370 |
Cash and cash equivalents, end of period | $ | 36,030 |  |  | $ | 1,768 |  |  | $ | 1,362 |  |  | $ | — |  |  | $ | 39,160 |

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- References No definition available. + Details
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- Definition The entire disclosure for each guarantee obligation, or each group of similar guarantee obligations, including (a) the nature of the guarantee, including its term, how it arose, and the events or circumstances that would require the guarantor to perform under the guarantee; (b) the maximum potential amount of future payments (undiscounted) the guarantor could be required to make under the guarantee; (c) the current carrying amount of the liability, if any, for the guarantor's obligations under the guarantee; and (d) the nature of any recourse provisions under the guarantee, and any assets held either as collateral or by third parties, and any relevant related party disclosure. Excludes disclosures about product warranties. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 460 -URI http://asc.fasb.org/topic&trid=2155896 + Details
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