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Equity Method Investments
 3 Months Ended
Mar. 31, 2014
Equity Method Investments and Joint Ventures [Abstract]  
Equity Method Investments
Equity Method Investments
The following table reflects the change in the Company’s equity method investments during the three months ended March 31, 2014 (in thousands):
 
INOVA Geophysical
 
OceanGeo
 
Total
Investments at December 31, 2013
$
51,065

 
$
2,800

 
$
53,865

Equity in earnings (losses) of investments
(2,426
)
 
738

 
(1,688
)
Advances to OceanGeo (prior to consolidation)
—

 
3,683

 
3,683

Acquisition of controlling interest (consolidation) of OceanGeo
—

 
(7,221
)
 
(7,221
)
Equity interest in investees' other comprehensive loss
(1,173
)
 
—

 
(1,173
)
Investment at March 31, 2014
$
47,466

 
$
—

 
$
47,466


INOVA Geophysical — The Company accounts for its 49% interest in INOVA Geophysical as an equity method investment and records its share of earnings and losses of INOVA Geophysical on a one fiscal quarter lag basis. For the three months ended March 31, 2014, the Company recorded its share of losses from INOVA Geophysical of $2.4 million, compared to its share of earnings for the corresponding period in 2013, of $1.9 million. The following table reflects the summarized financial information for INOVA Geophysical for the three months ended December 31, 2013 and 2012 (in thousands):
 
Three Months Ended December 31,
 
2013
 
2012
Net revenues
$
40,176

 
$
59,611

Gross profit
$
4,948

 
$
12,327

Loss from operations
$
(3,667
)
 
$
(250
)
Net income (loss)
$
(4,951
)
 
$
3,742


Related Party Transactions
For information regarding transactions between the Company and its equity method investees, see Note 14 “Related Party Transactions.”