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STOCKHOLDERS' INVESTMENT, EARNINGS PER SHARE AND ACCUMULATED OTHER COMPREHENSIVE INCOME (Tables) | 3 Months Ended
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Jun. 30, 2020
Equity [Abstract] |
Schedule of earnings per share, basic and diluted | Diluted earnings per common share excludes options to purchase common shares and restricted stock awards, which were outstanding during the period but were anti-dilutive, as follows (in thousands, except share and per shares amounts):
|  | Successor
|  | Three Months Ended June 30, 2020
Income (loss): |  |
Net income attributable to Bristow Group Inc. |  | $ | 71,477 |
Less: PIK dividends (1) |  | (12,039 | )
Plus: D eemed contribution from conversion of preferred stock |  | 144,986 |
Income available to common stockholders – basic |  | $ | 204,424 |
Less: Preferred stock adjustments |  | (3,377 | )
Income available to common stockholders – diluted |  | $ | 201,047 |
Shares: |  |
Weighted average number of common shares outstanding – basic |  | 11,102,611 |
Net effect of dilutive preferred stock |  | 27,885,917 |
Weighted average number of common shares outstanding – diluted(2) |  | 38,988,528 |
Earnings per common share - basic |  | $ | 18.41 |
Earnings per common share - diluted |  | $ | 5.16 |
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(1) | See “Stockholders’ Investment, Common Stock and Preferred Stock” above for further details on PIK dividends.
(2) | Excludes weighted average common shares of 1,676,354 for the three months ended June 30, 2020 (Successor), for certain share awards as the effect of their inclusion would have been antidilutive.
The following table shows the computation of basic and diluted earnings per share:
|  | Predecessor
|  | Three Months Ended June 30, 2019
Loss (in thousands): |  |
Loss available to common stockholders – basic |  | $ | (169,246 | )
Loss available to common stockholders – diluted |  | $ | (169,246 | )
Shares: |  |
Weighted average number of common shares outstanding – basic |  | 35,918,916 |
Net effect of dilutive stock options and restricted stock awards based on the treasury stock method |  | — |
Weighted average number of common shares outstanding – diluted (3)(4) |  | 35,918,916 |
Basic loss per common share |  | $ | (4.71 | )
Diluted loss per common share |  | $ | (4.71 | )
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(3) | Excludes weighted average common shares of 3,881,347 for the three months ended June 30, 2019 (Predecessor), for certain share awards as the effect of their inclusion would have been antidilutive. The Old Bristow Preferred Stock is not included on an if-converted basis under diluted earnings per common share because the conversion of the shares would be anti-dilutive.
(4) Potentially dilutive shares issuable pursuant to the warrant transactions entered into concurrently with the issuance of the Combined Company’s 4½% Convertible Senior Notes (the “Warrant Transactions”) were not included in the computation of diluted income per share for the three months ended June 30, 2019, because to do so would have been anti-dilutive. For further details on the Warrant Transactions, see Note 5 in the fiscal year 2019 condensed consolidated financial statements.
Schedule of accumulated other comprehensive income (loss) | The following table sets forth the changes in the balances of each component of accumulated other comprehensive loss (in thousands):
|  | Successor
|  | Currency Translation Adjustments |  | Pension Liability Adjustments (1) |  | Unrealized gain (loss) on cash flow hedges (2) |  | Total
Balance as of March 31, 2020 |  | $ | (16,440 | ) |  | $ | 6,389 |  |  | $ | 1,410 |  |  | $ | (8,641 | )
Other comprehensive income before reclassification |  | 3,159 |  |  | — |  |  | (427 | ) |  | 2,732 |
Reclassified from accumulated other comprehensive income |  | — |  |  | — |  |  | (454 | ) |  | (454 | )
Net current period other comprehensive income |  | 3,159 |  |  | — |  |  | (881 | ) |  | 2,278 |
Foreign exchange rate impact |  | 53 |  |  | (53 | ) |  | — |  |  | — |
Balance as of June 30, 2020 |  | $ | (13,228 | ) |  | $ | 6,336 |  |  | $ | 529 |  |  | $ | (6,363 | )
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(1) | Reclassification of amounts related to pension liability adjustments are included as a component of net periodic pension cost.
(2) Reclassification of amounts related to cash flow hedges were included as direct costs.

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