The following table presents the ownership interests and carrying values of our investments:


			Carrying Value
	Investment	Ownership Percentage	March 31, 2024		December 31, 2023
Advanced Engine Repair JV	Equity method	25%	$	20,519	$	21,040
Falcon MSN 177 LLC	Equity method	50%	1,536		1,682
Quick Turn Engine Center LLC	Equity method	50%*	—		—
			$	22,055	$	22,722

____________________________________

We did not recognize any other-than-temporary impairments for the three months ended March 31, 2024 and 2023.


	Three Months Ended March 31,
	2024		2023
Advanced Engine Repair JV	$	(521)	$	(408)
Falcon MSN 177 LLC	(146)		(99)
Quick Turn Engine Center LLC	—		(828)
Total	$	(667)	$	(1,335)

In December 2016, we invested $15 million for a 25% interest in an advanced engine repair joint venture. This joint venture is focused on developing new cost savings programs for engine repairs. We exercise significant influence over this investment and account for this investment as an equity method investment.

In August 2019, we expanded the scope of our joint venture and invested an additional $13.5 million and maintained a 25% interest.

In November 2021, we invested $1.6 million for a 50% interest in Falcon MSN 177 LLC, an entity that consists of one Dassault Falcon 2000 aircraft. Falcon MSN 177 LLC leases the aircraft to charter operators on aircraft, crew maintenance, and insurance contracts. We account for our investment in Falcon as an equity method investment as we have significant influence through our interest.

On January 4, 2023, we invested $19.5 million for a 50% interest (45% pro rata distribution of income until return of the JV partner’s initial investment) in Quick Turn Engine Center LLC or “QuickTurn” (previously iAero Thrust LLC), a hospital maintenance and testing facility dedicated to the CFM56 engine. We account for our investment in QuickTurn as an equity method investment as we have significant influence through our interest.

On December 1, 2023, we purchased the remaining interest in QuickTurn from the joint venture partner for total cash consideration of $30.3 million to obtain full ownership with a 100% equity interest. On the acquisition date, the Company accounted for QuickTurn on a consolidated basis and derecognized it as an equity method investment. See Note 3 for additional information.