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SEGMENT AND GEOGRAPHIC AREA INFORMATION
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
SEGMENT AND GEOGRAPHIC AREA INFORMATION
The Company has three reportable segments: Offshore Energy Services, Government Services and Other Services. The Offshore Energy Services segment provides aviation services to, from and between offshore energy installations globally. The Government Services segment provides search and rescue (“SAR”) and support helicopter services to government agencies globally. The Other Services segment is primarily comprised of fixed wing services, dry-leasing of aircraft to third-party operators and part sales. Corporate includes unallocated overhead costs that are not directly associated with the Company’s reportable segments. The Company’s Chief Executive Officer, who is the Chief Operating Decision Maker (“CODM”), uses segment operating income, in addition to other measures, to assess segment performance and allocate resources.
Financial information by segment for the three months ended March 31, 2025 and 2024 is summarized below (in thousands):
Offshore Energy ServicesGovernment ServicesOther ServicesCorporateConsolidated
Three months ended March 31, 2025
Revenues$239,785 $85,943 $24,802 $— $350,530 
Less:
Personnel56,766 24,473 6,072 — 87,311 
Repairs and maintenance46,907 11,361 3,047 — 61,315 
Insurance4,029 2,437 368 — 6,834 
Fuel12,702 2,082 4,091 — 18,875 
Leased-in equipment14,933 9,693 1,423 — 26,049 
Other segment costs37,656 12,871 6,274 — 56,801 
Total operating expenses172,993 62,917 21,275 — 257,185 
General and administrative expenses23,259 9,729 1,595 8,517 43,100 
Depreciation and amortization expense6,870 7,286 2,554 131 16,841 
Total costs and expenses203,122 79,932 25,424 8,648 317,126 
Losses on disposal of assets— — — (558)(558)
Earnings from unconsolidated affiliates702 — — — 702 
Operating income (loss)$37,365 $6,011 $(622)$(9,206)$33,548 
Offshore Energy ServicesGovernment ServicesOther ServicesCorporateConsolidated
Three months ended March 31, 2024
Revenues$229,895 $82,172 $25,027 $— $337,094 
Less:
Personnel56,277 21,576 6,345 — 84,198 
Repairs and maintenance50,810 12,204 2,709 — 65,723 
Insurance4,389 1,981 281 — 6,651 
Fuel15,280 2,103 4,251 — 21,634 
Leased-in equipment15,554 9,505 1,180 — 26,239 
Other segment costs36,171 9,811 4,628 — 50,610 
Total operating expenses178,481 57,180 19,394 — 255,055 
General and administrative expenses24,412 8,884 1,890 8,161 43,347 
Depreciation and amortization expense7,222 6,818 2,865 264 17,169 
Total costs and expenses210,115 72,882 24,149 8,425 315,571 
Losses on disposal of assets— — — (113)(113)
Earnings from unconsolidated affiliates1,419 — — — 1,419 
Operating income (loss)$21,199 $9,290 $878 $(8,538)$22,829 
Reconciliation of consolidated income (loss) before taxes for the periods reflected below were as follows:
Three Months Ended
March 31, 2025March 31, 2024
Operating income (loss):
Offshore Energy Services$37,365 $21,199 
Government Services6,011 9,290 
Other Services(622)878 
Corporate(9,206)(8,538)
Total operating income33,548 22,829 
Interest income2,118 1,984 
Interest expense, net(9,490)(9,472)
Other, net11,388 (6,201)
Total other income (expense), net4,016 (13,689)
Income before income taxes$37,564 $9,140 

Total depreciation and amortization expense by segment for the periods reflected below were as follows:
Offshore Energy ServicesGovernment ServicesOther ServicesCorporateConsolidated
Three months ended March 31, 2025
Depreciation and amortization expense$6,870 $7,286 $2,554 $131 $16,841 
PBH amortization(1)
2,879 422 105 — 3,406 
Total depreciation and amortization expense$9,749 $7,708 $2,659 $131 $20,247 
Three months ended March 31, 2024
Depreciation and amortization expense$7,222 $6,818 $2,865 $264 $17,169 
PBH amortization(1)
3,060 498 168 — 3,726 
Total depreciation and amortization expense$10,282 $7,316 $3,033 $264 $20,895 
(1) Included within operating expenses on the condensed consolidated statements of operations.
Capital expenditures by segment for the periods reflected below were as follows:
Three Months Ended
March 31, 2025March 31, 2024
Offshore Energy Services$22,695$1,719 
Government Services28,48659,531 
Other Services8793,312 
Total capital expenditures$52,060$64,562 
Segment assets consisting of property and equipment (excluding construction in progress), net of accumulated depreciation and right of use (“ROU”) assets, are reflected below for the periods indicated:
March 31, 2025December 31, 2024
Offshore Energy Services$595,556$596,687 
Government Services452,380433,721 
Other Services61,34462,746 
Total segment assets$1,109,280$1,093,154 
Corporate2,9113,156 
Construction-in-progress266,214244,181 
Total long-lived assets$1,378,405$1,340,491