ASSET DISPOSALS AND IMPAIRMENTS

3 Months Ended

Mar. 31, 2014

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ASSET DISPOSALS AND IMPAIRMENTS

8. ASSET DISPOSALS AND IMPAIRMENTS

During the first quarter of 2014, we sold two light aircraft previously utilized in our Air Medical segment and two fixed wing aircraft utilized in our Oil and Gas segment. Cash proceeds totaled $3.0 million, resulting in a loss on the sale of these assets of $1.1 million. These aircraft no longer met our strategic needs.