INVESTMENTS

9 Months Ended

Sep. 30, 2022

Equity Method Investments and Joint Ventures [Abstract]

6. INVESTMENTS

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


			Carrying Value
	Investment	Ownership Percentage	September 30, 2022		December 31, 2021
Advanced Engine Repair JV	Equity method	25%	$	20,439	$	21,317
Falcon MSN 177 LLC	Equity method	50%	1,841		1,600

			$	22,280	$	22,917

We did not recognize any other-than-temporary impairments for the three and nine months ended September 30, 2022 and 2021.

The following table presents our proportionate share of equity in income (losses):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Advanced Engine Repair JV	$	(314)	$	(369)	$	(879)	$	(1,050)
Falcon MSN 177 LLC	(44)		—		754		—

Total	$	(358)	$	(369)	$	(125)	$	(1,050)

Equity Method Investments

Advanced Engine Repair JV

In December 2016, we invested $15 million for a 25% interest in an advanced engine repair joint venture. We focus 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.

Falcon MSN 177 LLC

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.