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REVENUES REVENUES | 12 Months Ended
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Dec. 31, 2019
Revenue from Contract with Customer [Abstract] |
REVENUES | REVENUES The Company derives its revenues primarily from oil and gas flight services, emergency response services and dry-leasing activities. The adoption of ASC 606 pertains to the Company’s operating revenues. Dry-leasing revenues are recognized in accordance with ASC 842. Revenue is recognized when control of the promised goods or services is transferred to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The following table presents the Company’s operating revenues disaggregated by geographical region in which services are provided:
| 2019 |  | 2018 |  | 2017
Operating revenues: |  |  |  |  |
United States | $ | 146,952 |  |  | $ | 153,394 |  |  | $ | 150,583 |
Foreign | 63,083 |  |  | 56,800 |  |  | 64,344 |
Total operating revenues | $ | 210,035 |  |  | $ | 210,194 |  |  | $ | 214,927 |
The following table presents the Company’s revenues earned by service line:
| 2019 |  | 2018 |  | 2017
Revenues: |  |  |  |  |
Oil and gas flight services: |  |  |  |  |
U.S. | $ | 139,312 |  |  | $ | 143,654 |  |  | $ | 134,010 |
International | 56,510 |  |  | 56,800 |  |  | 64,344 |
Total oil and gas | 195,822 |  |  | 200,454 |  |  | 198,354 |
Emergency response services | 14,213 |  |  | 9,740 |  |  | 11,502 |
Flightseeing | — |  |  | — |  |  | 5,071 |
Total operating revenues | $ | 210,035 |  |  | $ | 210,194 |  |  | $ | 214,927 |
Dry-leasing revenues: |  |  |  |  |
U.S. | 2,562 |  |  | 3,873 |  |  | 1,604 |
International | 13,462 |  |  | 7,609 |  |  | 14,790 |
Total revenues | $ | 226,059 |  |  | $ | 221,676 |  |  | $ | 231,321 |
The Company determines revenue recognition by applying the following steps:
1. | Identify the contract with a customer;
2. | Identify the performance obligations in the contract;
3. | Determine the transaction price;
4. | Allocate the transaction price to the performance obligations; and
5. | Recognize revenue as the performance obligations are satisfied.
The Company earns the majority of its revenue through master service agreements or subscription agreements, which typically include a fixed monthly or daily fee, incremental fees based on hours flown and fees for ancillary items such as fuel, security, charter services, etc. The Company’s arrangements to serve its customers represent a promise to stand-ready to provide services at the customer’s discretion. The Company recognizes revenue for flight services and emergency response services with the passing of each day as the Company has the right to consideration from its customers in an amount that corresponds directly with the value to the customer of performance completed to date. Therefore, the Company has elected to exercise the right to invoice practical expedient in its adoption of ASC 606. The right to invoice represents a method for recognizing revenue over time using the output measure of “value to the customer” which is an objective measure of an entity’s performance in a contract. The Company typically invoices customers on a monthly basis for revenues earned during the prior month, with payment terms of 30 days. The Company’s customer arrangements do not contain any significant financing component for customers. Amounts for taxes collected from customers and remitted to governmental authorities are reported on a net basis. Practical Expedients and Exemptions The Company does not incur any material incremental costs to obtain or fulfill customer contracts that require capitalization under the new revenue standard and has elected the practical expedient afforded by the new revenue standard to expense such costs as incurred upon adoption. These costs are included as operating expenses in the consolidated statements of operations. The Company does not disclose the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less and (ii) contracts for which it recognizes revenue at the amount to which it has the right to invoice for services performed.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI http://asc.fasb.org/topic&trid=49130388 + Details
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