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INVESTMENTS | 9 Months Ended
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Sep. 30, 2022
Equity Method Investments and Joint Ventures [Abstract] |
INVESTMENTS | 5. 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 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 | )
Advanced Engine Repair JV In December 2016, we invested $15.0 million for a 25% interest in an advanced engine repair joint venture. We focus on developing new costs 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.

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- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -URI https://asc.fasb.org/topic&trid=2196965 + Details
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