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Investment in Variable Interest Entity
9 Months Ended
Sep. 30, 2018
Investment in Variable Interest Entity and Other Investments and Affiliates [Abstract]  
Investment in Variable Interest Entity
INVESTMENT IN VARIABLE INTEREST ENTITY
We account for our investment in PHI Century Limited ("PHIC") as a variable interest entity, which is defined as an entity that either (a) has insufficient equity to permit the entity to finance its operations without additional subordinated financial support or (b) has equity investors who lack the characteristics of a controlling financial interest. As of September 30, 2018, we had a 49% investment in the common stock of PHIC, a Ghanaian entity. We acquired our 49% interest on May 26, 2011, PHIC’s date of incorporation. The purpose of PHIC is to provide oil and gas flight services in Ghana and the West African region. For the quarter ended September 30, 2018, we recorded gain in equity of this unconsolidated affiliate of $0.1 million compared to loss in equity of $0.1 million for the quarter ended September 30, 2017 relative to our 49% equity ownership. For the nine months ended September 30, 2018 and 2017, we recorded a gain in equity of this unconsolidated affiliate of less than $0.2 million and a loss of $1.0 million relative to our 49% equity ownership, respectively. We had $4.4 million and $4.0 million of trade receivables from PHIC as of September 30, 2018 and December 31, 2017, respectively. During the nine months ended September 30, 2018, we loaned PHIC $0.4 million for operating purposes. This loan balance is included in Accounts receivable - other on our Condensed Consolidated Balance Sheets at September 30, 2018. Our investment in the common stock of PHIC is included in Other Assets on our Condensed Consolidated Balance Sheets and was $0.5 million at September 30, 2018 and $0.3 million at December 31, 2017.