RELATED PARTY TRANSACTIONS |
3 Months Ended |
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Mar. 31, 2018 | |
| Related Party Transactions [Abstract] | |
| RELATED PARTY TRANSACTIONS |
RELATED PARTY TRANSACTIONS
The Company leases office space from SEACOR Holdings Inc. (“SEACOR”) whose CEO is Chairman of our board. During each of the three months ended March 31, 2018 and 2017, the Company incurred $0.1 million in rent and utilities. Such costs are included in administrative and general expense in the condensed consolidated statements of operations.
The Company purchased products from its Dart Holding Company Ltd. (“Dart”) joint venture totaling $0.7 million and $0.1 million during the three months ended March 31, 2018 and 2017, respectively. The Company also has a note receivable from Dart which had balances of $2.7 million and $2.8 million as of March 31, 2018 and December 31, 2017, 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 three months ended March 31, 2018 and 2017, the Company incurred fees of $0.1 million and $0.2 million, respectively, for simulator services from its Era Training Center, LLC (“ETC”) joint venture, and during each of the three months ended March 31, 2018 and 2017, the Company provided helicopter, management and other services to ETC of less than $0.1 million. Revenues from ETC are recorded in operating revenues, and expenses incurred are recorded in operating expenses on the consolidated statements of operations. The Company also has a note receivable from ETC which had a balance of $3.8 million and $3.7 million as of March 31, 2018 and December 31, 2017, respectively, which is recorded in equity investments and advances on the consolidated balance sheets.
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