Annual report pursuant to Section 13 and 15(d)

INVESTMENTS, AT EQUITY, ADVANCES TO 50% OR LESS OWNED COMPANIES (Tables)

v2.4.0.8
INVESTMENTS, AT EQUITY, ADVANCES TO 50% OR LESS OWNED COMPANIES (Tables)
12 Months Ended
Dec. 31, 2013
Equity Method Investments and Joint Ventures [Abstract]  
Schedule of Equity Method Investments
Investments, at equity, and advances to 50% or less owned companies as of December 31 were as follows (in thousands):
 
 
Ownership
 
2013
 
2012
Dart
 
50.0%
 
$
25,264

 
$
25,212

Aeróleo (1)
 
50.0%
 

 

Era do Brazil (2)
 
50.0%
 

 

Era Training Center
 
50.0%
 
6,236

 
6,740

Lake Palma(3)
 
51.0%
 
3,411

 
2,512

Heli-Union Era Australia
 
45.0%
 
75

 
232

 
 
 
 
$
34,986

 
$
34,696

____________________
(1)
Investment impaired in March 2012.
(2)
Consolidated entity as of September 30, 2012.
(3)
The Company owns a 51% financial interest in this joint venture; however, it does not consolidate the venture as it only controls 50% of the venture’s voting rights.

Combined Condensed Financials. Summarized financial information for the Company’s investments, at equity, as of and for the years ended December 31 was as follows (in thousands) for Dart Holding Company Ltd.:
 
 
2013
 
2012
 
 
Current Assets
 
$
19,231

 
$
18,845

 
 
Noncurrent Assets
 
37,636

 
42,423

 
 
Current Liabilities
 
8,613

 
8,754

 
 
Noncurrent Liabilities
 
6,963

 
12,590

 
 
 
 
2013
 
2012
 
2011
Operating Revenues
 
$
39,185

 
$
42,870

 
$
43,198

Costs and Expenses:
 
 
 
 
 
 
Operating and administrative
 
31,538

 
33,706

 
34,431

Depreciation and amortization
 
5,213

 
5,375

 
2,746

 
 
36,751

 
39,081

 
37,177

Operating Income
 
$
2,434

 
$
3,789

 
$
6,021

Net Income
 
$
789

 
$
1,245

 
$
3,974



Combined Condensed Financials. Summarized financial information for the Company’s investments, at equity, as of and for the years ended December 31 was as follows (in thousands) for all other investments:
 
 
2013
 
2012
 
 
Current Assets
 
$
4,378

 
$
2,278

 
 
Noncurrent Assets
 
20,018

 
22,611

 
 
Current Liabilities
 
2,789

 
2,523

 
 
Noncurrent Liabilities
 
7,918

 
9,146

 
 
 
 
2013
 
2012
 
2011
Operating Revenues
 
$
4,682

 
$
20,009

 
$
53,827

Costs and Expenses:
 
 
 
 
 
 
Operating and administrative
 
1,035

 
16,221

 
51,726

Depreciation
 
3,450

 
3,165

 
3,081

 
 
4,485

 
19,386

 
54,807

Operating Income
 
$
197

 
$
623

 
$
(980
)
Net Income (Loss)
 
$
(476
)
 
$
540

 
$
(1,590
)