| 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 |
) |
|