Annual report pursuant to Section 13 and 15(d)

ACQUISITIONS AND DISPOSITIONS

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ACQUISITIONS AND DISPOSITIONS
 12 Months Ended
Dec. 31, 2014
Property, Plant and Equipment [Abstract]  
ACQUISITIONS AND DISPOSITIONS
ACQUISITIONS AND DISPOSITIONS
The Company’s capital expenditures were $106.7 million, $110.1 million and $113.0 million in 2014, 2013 and 2012, respectively, and consisted primarily of helicopter acquisitions and deposits on future helicopter deliveries. The Company records helicopter acquisitions in Property and Equipment and places helicopters in service once all completion work has been finalized and the helicopters are ready for use. The company sold or otherwise disposed of property and equipment for $7.1 million, $65.2 million and $5.2 million in 2014, 2013 and 2012, respectively. A summary of changes to our owned helicopter fleet during the years ended December 31, 2014, 2013 and 2012 were as follows:
Additions.
 
2014
 
2013
 
2012
 
 
 
 
(1) 
 
(2) 
Light helicopters - single engine
 
—

 
—

 
3

Light helicopters - twin engine
 
—

 
2

 
4

Medium helicopters
 
4

 
4

 
8

Heavy helicopters
 
—

 
—

 
3

 
 
4

 
6

 
18

Dispositions.
 
2014
 
2013
 
2012
 
 
 
 
 
 
(3) 
Light helicopters - single engine
 
—

 
—

 
—

Light helicopters - twin engine
 
—

 
4

 
6

Medium helicopters
 
3

 
10

 
2

Heavy helicopters
 
—

 
1

 
—

 
 
3

 
15

 
8

_______________
(1)
Includes two light-twin helicopters and one medium helicopter that were previously leased-in.
(2)
Includes three light-single helicopters and one medium helicopter that were previously leased-in.
(3)
Excludes two light-twin helicopters that were removed from service and includes one light-single helicopter that had previously been removed from service.