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Investment in Variable Interest Entity
3 Months Ended
Mar. 31, 2019
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 March 31, 2019, 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 March 31, 2019, we recorded gain in equity of this unconsolidated affiliate of $1.4 million compared to loss in equity of less than $0.1 million for the quarter ended March 31, 2018 relative to our 49% equity ownership. We had $4.1 million and $4.8 million of trade receivables from PHIC as of March 31, 2019 and December 31, 2018, respectively. In 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 March 31, 2019. Our investment in the common stock of PHIC is included in Other Assets on our Condensed Consolidated Balance Sheets and was $1.9 million at March 31, 2019 and $0.5 million at December 31, 2018.