| Business Segment Information |
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(7)
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Business Segment Information
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Summarized financial information for the Company’s operating segments is shown in the following table (amounts in thousands). Amounts in the “Corporate Activities” column represent corporate headquarters expenses, corporate income tax expense, and results of insignificant operations. The Company does not allocate assets between all operating segments for internal reporting and performance evaluation purposes. Operating segments and their principal products or services are as follows:
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Air Medical Services (AMS) - provides air medical transportation services to the general population as an independent service and to hospitals or other institutions under exclusive operating agreements. Services include aircraft operation and maintenance, medical care, dispatch and communications, and medical billing and collection.
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Tourism – provides helicopter tours and charter flights, primarily focusing on Grand Canyon and Hawaiian Island tours.
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United Rotorcraft (UR) Division - designs, manufactures, and installs aircraft medical interiors and other aerospace and medical transport products for domestic and international customers.
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For quarter ended March 31:
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AMS
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Tourism
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UR
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Corporate
Activities
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Intersegment
Eliminations
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Consolidated
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2014
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External revenue
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$ |
190,978 |
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24,338 |
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7,820 |
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-- |
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-- |
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223,136 |
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Intersegment revenue
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-- |
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-- |
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3,067 |
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-- |
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(3,067 |
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-- |
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Total revenue
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190,978 |
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24,338 |
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10,887 |
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-- |
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(3,067 |
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223,136 |
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Operating expenses, excluding depreciation & amortization
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(142,247 |
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(20,011 |
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(9,510 |
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(9,511 |
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2,576 |
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(178,703 |
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Depreciation & amortization
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(17,912 |
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(1,564 |
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(538 |
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(502 |
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-- |
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(20,516 |
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Interest expense
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(4,196 |
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(622 |
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-- |
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(711 |
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-- |
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(5,529 |
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Other income, net
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387 |
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-- |
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-- |
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(413 |
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-- |
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(26 |
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Income tax expense
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-- |
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-- |
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-- |
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(7,310 |
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-- |
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(7,310 |
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Segment net income (loss)
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27,010 |
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2,141 |
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839 |
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(18,447 |
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(491 |
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11,052 |
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Less net income (loss) attributable to non-controlling interests
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(48 |
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211 |
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-- |
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-- |
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-- |
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163 |
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Net income (loss) attributable to Air Methods Corporation and subsidiaries
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$ |
27,058 |
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1,930 |
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839 |
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(18,447 |
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(491 |
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10,889 |
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2013
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External revenue
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$ |
164,406 |
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10,391 |
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4,421 |
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11 |
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-- |
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179,229 |
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Intersegment revenue
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-- |
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-- |
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1,771 |
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-- |
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(1,771 |
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-- |
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Total revenue
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164,406 |
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10,391 |
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6,192 |
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11 |
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(1,771 |
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179,229 |
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Operating expenses, excluding depreciation & amortization
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(141,061 |
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(9,487 |
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(6,298 |
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(8,702 |
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1,583 |
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(163,965 |
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Depreciation & amortization
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(18,709 |
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(589 |
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(425 |
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(399 |
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-- |
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(20,122 |
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Interest expense
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(4,006 |
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(220 |
) |
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-- |
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(576 |
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-- |
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(4,802 |
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Other income, net
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254 |
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-- |
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-- |
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33 |
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-- |
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287 |
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Income tax benefit (expense)
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-- |
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-- |
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-- |
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3,684 |
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-- |
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3,684 |
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Segment net income (loss)
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$ |
884 |
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|
95 |
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(531 |
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(5,949 |
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(188 |
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(5,689 |
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