RELATED PARTY TRANSACTIONS |
12 Months Ended |
|---|---|
Dec. 31, 2017 | |
| Related Party Transactions [Abstract] | |
| RELATED PARTY TRANSACTIONS |
RELATED PARTY TRANSACTIONS
Prior to January 31, 2013, the Company was wholly owned by SEACOR Holdings Inc. (along with its other majority-owned subsidiaries being collectively referred to as “SEACOR”) and represented SEACOR’s aviation services business segment. On January 31, 2013, SEACOR then completed a spin-off by means of a dividend to SEACOR’s stockholders of all of the Company’s issued and outstanding common stock (the “Spin-off”).
During the year ended December 31, 2015, the Company provided less than $0.1 million of aviation services to SEACOR under flight charter arrangements. Such amounts are recorded in operating revenues on the consolidated statements of operations. The Company did not provide any such services to SEACOR during the years ended December 31, 2017 and 2016.
Prior to the Spin-off, as part of a consolidated group, certain costs and expenses of the Company were borne by SEACOR and charged to the Company. In conjunction with the Spin-off, the Company entered into an Amended and Restated Transition Services Agreement with SEACOR. Subsequent to January 31, 2013 and through the termination of the Amended and Restated Transition Services Agreement on June 30, 2015, these costs were classified in administrative and general expenses in the consolidated statements of operations. Such costs totaled $0.6 million and $3.0 million during the years ended December 31, 2016 and 2015, respectively. Additionally, the Company leases office space from SEACOR. For each of the years ended December 31, 2017, 2016 and 2015, the Company paid $0.4 million to SEACOR for rent and utilities, which are included in administrative and general expenses on the consolidated statements of operations.
During the years ended December 31, 2017, 2016 and 2015, the Company purchased products and services from Dart totaling $2.0 million, $1.9 million and $2.1 million, respectively, and had a note receivable from Dart with a balance of $2.8 million and $3.2 million at December 31, 2017 and 2016, respectively. Purchases from Dart are included in operating expenses on the consolidated statements of income, and the note receivable is included in equity investments and advances on the consolidated balance sheets.
During the years ended December 31, 2017, 2016 and 2015, the Company provided helicopter, management and other services to Era Training Center totaling $0.2 million, $0.2 million and $0.4 million, respectively, and incurred $0.5 million, $0.6 million and $0.5 million, respectively, for flight training device fees. Revenues from Era Training Center are recorded in operating revenues, and expenses incurred are recorded in operating expenses on the consolidated statements of operations. At December 31, 2017 and 2016, the Company had a note receivable from Era Training Center with a balance of $3.7 million and $4.0 million, respectively, which is recorded in equity investments and advances on the consolidated balance sheets.
In June 2016, the Company and its partner in Aeróleo each contributed notes payable to them by Aeróleo as a contribution of additional capital into Aeróleo. See further discussion in Note 8.
|