Bristow Group Inc.VTOL

Bristow Group Inc. Fair Value Disclosure

10-KFiled Feb 26, 20262 min read
FAIR VALUE DISCLOSURES
Authoritative guidance on fair value measurements provides a framework for measuring fair value and establishes a fair value hierarchy that prioritizes the inputs used to measure fair value, giving the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 inputs) and the lowest priority to unobservable inputs (Level 3 inputs). The fair values of the Company’s cash and cash equivalents, accounts receivable and accounts payable approximate their carrying values due to the short-term nature of these items.
The Company’s debt was measured at fair value using Level 2 inputs based on estimated current rates for similar types of arrangements using discounted cash flow analysis. Considerable judgment was required in developing certain of the estimates of fair value, and, accordingly, the estimates presented herein are not necessarily indicative of the amounts that the Company could realize in a current market exchange.
The carrying and fair values of the Company’s debt were as follows (in thousands):
Carrying
Amount		Level 1Level 2Level 3
December 31, 2025
LIABILITIES
6.875% Senior Notes(1)
$397,031 $— $409,884 $— 
UKSAR Debt(2)
160,635 — 159,222 — 
IRCG Debt(3)
113,788 — 114,699 — 
$671,454 $— $683,805 $— 
December 31, 2024
LIABILITIES
6.875% Senior Notes(1)
$395,610 $— $397,872 $— 
UKSAR Debt(2)
200,273 — 205,545 — 
IRCG Debt(3)
93,900 — 95,912 — 
$689,783 $— $699,329 $— 
_________________ 
(1)As of December 31, 2025 and 2024, the carrying values of unamortized deferred financing fees related to the 6.875% Senior Notes were $3.0 million and $4.4 million, respectively.
(2)As of December 31, 2025 and 2024, the carrying values of unamortized deferred financing fees related to the UKAR Debt were $6.6 million and $9.1 million, respectively.
(3)As of December 31, 2025 and 2024, the carrying values of unamortized deferred financing fees related to the IRCG Debt were $2.5 million and $2.8 million, respectively.

Historical Timeline

Fiscal YearFiled
2025Feb 26, 2026Showing above
2024Feb 27, 2025
2023Mar 6, 2024
2022May 31, 2022
2021May 27, 2021
2019Mar 6, 2020
2018Mar 8, 2019
2017Mar 9, 2018
2016Mar 9, 2017
2015Feb 26, 2016

About Fair Value Disclosures

Fair value disclosures classify all assets and liabilities measured at fair value into a three-level hierarchy: Level 1 (quoted market prices), Level 2 (observable inputs like yield curves), and Level 3 (unobservable inputs requiring management estimates). The proportion of Level 3 assets directly reflects how much of the balance sheet depends on internal models rather than market evidence.

Key signals: a growing Level 3 balance relative to total fair-value assets increases valuation uncertainty and earnings volatility risk. Watch for transfers between levels — assets moving from Level 2 to Level 3 often signal deteriorating market liquidity. Unrealized gains and losses on Level 3 positions flow through earnings or other comprehensive income, so large swings deserve scrutiny. For financial institutions, examine the sensitivity disclosures that show how Level 3 valuations change under alternative assumptions. Compare the fair value of debt against its carrying amount to gauge hidden leverage.

Other Available Disclosures

Income TaxesRevenueEarnings Per SharePP&ELeasesSegmentsDebtCommitmentsStock CompensationNew Standards