ACQUISITIONS AND DISPOSITIONS |
3 Months Ended |
|---|---|
Mar. 31, 2019 | |
| Property, Plant and Equipment [Abstract] | |
| ACQUISITIONS AND DISPOSITIONS |
ACQUISITIONS AND DISPOSITIONS
Capital Expenditures. During the three months ended March 31, 2019, capital expenditures were $1.3 million and consisted primarily of spare helicopter parts and leasehold improvements. During the three months ended March 31, 2019, the Company did not capitalize any interest. During the three months ended March 31, 2018, the Company capitalized interest of $0.1 million. As of March 31, 2019 and December 31, 2018, construction in progress, which is a component of property and equipment, included capitalized interest of $0.7 million. A summary of changes to the Company’s operating helicopter fleet is as follows:
Equipment Additions - During the three months ended March 31, 2019, the Company did not place any helicopters into service. During the three months ended March 31, 2018, the Company placed one S92 heavy helicopter into service. The Company places helicopters in service once completion work has been finalized and the helicopters are ready for use.
Equipment Dispositions - During the three months ended March 31, 2019, the Company did not sell or dispose of any material assets. During the three months ended March 31, 2018, the Company sold or otherwise disposed of twelve helicopters, two operating facilities, and related property and equipment for proceeds of $19.5 million.
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