PHI (PHIG) 10-Q7 May 152015 Q1 Quarterly reportFinancial data

Company Profile

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
Document and Entity Information	Mar. 31, 2015	1-May-15
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	FALSE
Document Period End Date	31-Mar-15
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Trading Symbol	PHII
Entity Registrant Name	PHI INC
Entity Central Index Key	350403
Current Fiscal Year End Date	-19
Entity Filer Category	Accelerated Filer
Voting Common Stock [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		2,905,757
Non-Voting Common Stock [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		12,674,653

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Current Assets:
Cash	$3,623	$6,270
Short-term investments	189,480	185,244
Accounts receivable - net
Trade	157,857	178,833
Other	2,370	1,928
Inventories of spare parts - net	71,452	73,793
Prepaid expenses	11,075	9,314
Deferred income taxes	9,914	9,915
Income taxes receivable	1,226	1,227
Total current assets	446,997	466,524
Property and equipment - net	917,342	877,818
Restricted investments	15,485	15,485
Other assets	15,095	16,253
Total assets	1,394,919	1,376,080
Current Liabilities:
Accounts payable	56,214	27,700
Accrued and other current liabilities	30,085	52,812
Total current liabilities	86,299	80,512
Long-term debt	539,640	543,000
Deferred income taxes	146,865	140,532
Other long-term liabilities	15,064	14,968
Commitments and contingencies (Note 9)
Shareholders' Equity:
Additional paid-in capital	301,170	301,533
Treasury stock	-135
Accumulated other comprehensive loss	-102	-211
Retained earnings	304,560	294,197
Total shareholders' equity	607,051	597,068
Total liabilities and shareholders' equity	1,394,919	1,376,080
Voting Common Stock [Member]
Shareholders' Equity:
Common stock	291	291
Total shareholders' equity	291	291
Non-Voting Common Stock [Member]
Shareholders' Equity:
Common stock	1,267	1,258
Total shareholders' equity	$1,267	$1,258

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Parenthetical) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Voting Common Stock [Member]
Common stock, par value	$0.10	$0.10
Common stock, shares authorized	12,500,000	12,500,000
Common stock, shares issued	2,905,757	2,905,757
Common stock, shares outstanding	2,905,757	2,905,757
Non-Voting Common Stock [Member]
Common stock, par value	$0.10	$0.10
Common stock, shares authorized	25,000,000	25,000,000
Common stock, shares issued	12,674,653	12,576,916
Common stock, shares outstanding	12,674,653	12,576,916

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Operations (Unaudited) (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Income Statement [Abstract]
Operating revenues, net	$204,197	$197,071
Expenses:
Direct expenses	169,207	158,653
Selling, general and administrative expenses	11,237	9,328
Total operating expenses	180,444	167,981
(Gain) loss on asset dispositions	-7	1,073
Equity in loss of unconsolidated affiliate	68	41
Operating income	23,692	27,976
Interest expense	7,170	7,364
Loss on debt extinguishment		29,216
Other income, net	-462	-91
Total expenses	6,708	36,489
Earnings (loss) before income taxes	16,984	-8,513
Income tax expense (benefit)	6,621	-3,192
Net earnings (loss)	$10,363	($5,321)
Weighted average shares outstanding:
Basic	15,579	15,480
Diluted	15,662	15,480
Net earnings (loss) per share:
Basic	$0.67	($0.34)
Diluted	$0.66	($0.34)

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Statement of Comprehensive Income [Abstract]
Net earnings (loss)	$10,363	($5,321)
Unrealized gain on short-term investments	139	14
Other unrealized gain	24
Changes in pension plan assets and benefit obligations		-1
Tax effect of preceding losses, gains or changes	-55	-5
Total comprehensive income (loss)	$10,471	($5,313)

Condensed_Consolidated_Stateme2

Condensed Consolidated Statements of Shareholders' Equity (Unaudited) (USD $)	Total	Non-Voting Common Stock [Member]	Voting Common Stock [Member]	Additional Paid-in Capital [Member]	Treasury Stock [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Retained Earnings [Member]
In Thousands	Total	Non-Voting Common Stock [Member]	Voting Common Stock [Member]	Additional Paid-in Capital [Member]	Treasury Stock [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Retained Earnings [Member]
Balance at Dec. 31, 2013	$559,965	$1,257	$291	$296,932		($24)	$261,509
Balance, Shares at Dec. 31, 2013		12,568	2,906
Net earnings (loss)	-5,321						-5,321
Unrealized gain on short-term investments	8					8
Amortization of unearned stock-based compensation	688			688
Issuance of non-voting common stock (upon vesting of restricted stock units)	1	1
Issuance of non-voting common stock (upon vesting of restricted stock units), shares		11
Cancellation of restricted non-voting stock units for tax withholdings on vested shares	-176			-176
Cancellation of restricted non-voting stock units for tax withholdings on vested shares, shares		-4
Balance at Mar. 31, 2014	555,165	1,258	291	297,444		-16	256,188
Balance, Shares at Mar. 31, 2014		12,575	2,906
Balance at Dec. 31, 2014	597,068	1,258	291	301,533		-211	294,197
Balance, Shares at Dec. 31, 2014		12,576	2,906
Net earnings (loss)	10,363						10,363
Unrealized gain on short-term investments	85					85
Amortization of unearned stock-based compensation	1,719			1,719
Issuance of non-voting common stock (upon vesting of restricted stock units)	16	16
Issuance of non-voting common stock (upon vesting of restricted stock units), shares		164
Cancellation of restricted non-voting stock units for tax withholdings on vested shares	-2,089	-7		-2,082
Cancellation of restricted non-voting stock units for tax withholdings on vested shares, shares		-66
Purchase of treasury stock	-135				-135
Other	24					24
Balance at Mar. 31, 2015	$607,051	$1,267	$291	$301,170	($135)	($102)	$304,560
Balance, Shares at Mar. 31, 2015		12,674	2,906

Condensed_Consolidated_Stateme3

Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Operating activities:
Net earnings (loss)	$10,363	($5,321)
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	18,151	11,363
Deferred income taxes	6,279	-4,559
(Gain) loss on asset dispositions	-7	1,073
Equity in loss of unconsolidated affiliate	68	41
Loss on debt extinguishment		29,216
Inventory valuation reserves	562
Changes in operating assets and liabilities	-5,498	-25,691
Net cash provided by operating activities	29,918	6,122
Investing activities:
Purchase of property and equipment	-22,115	-38,746
Proceeds from asset dispositions		2,994
Purchase of short-term investments	-190,243	-140,551
Proceeds from sale of short-term investments	185,426	84,692
Refund on deposits on aircraft		3,926
Payments of deposits on aircraft	-66	-6,499
Net cash used in investing activities	-26,998	-94,184
Financing activities:
Proceeds from issuance of Senior Notes due 2019		500,000
Repayment of Senior Notes due 2018		-292,571
Premium and costs to retire debt early		-26,132
Debt issuance costs		-5,657
Proceeds from line of credit	77,740	95,500
Payments on line of credit	-81,100	-174,500
Repurchase of common stock	-2,207	-176
Net cash (used in) provided by financing activities	-5,567	96,464
(Decrease) increase in cash	-2,647	8,402
Cash, beginning of period	6,270	934
Cash, end of period	3,623	9,336
Cash paid during the period for:
Interest	13,453	11,280
Income taxes	3,061	13
Noncash investing activities:
Other current liabilities and accrued payables related to purchase of property and equipment	$28,994	$24,717

Basis_of_Presentation

Basis of Presentation	3 Months Ended
Basis of Presentation	Mar. 31, 2015
Accounting Policies [Abstract]
Basis of Presentation	1. BASIS OF PRESENTATION

	The accompanying unaudited condensed consolidated financial statements include the accounts of PHI, Inc. and its subsidiaries (“PHI” or the “Company” or “we” or “our”). In the opinion of management, these condensed consolidated financial statements reflect all adjustments, consisting of only normal, recurring adjustments, necessary to present fairly the financial results for the interim periods presented. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014 and the accompanying notes.

	The Company’s financial results, particularly as they relate to the Company’s Oil and Gas segment, are influenced by seasonal fluctuations as discussed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014. For this and other reasons, the results of operations for interim periods are not necessarily indicative of the operating results that may be expected for a full fiscal year.

	Accounting Policies—In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers, which provides a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and will supersede most current revenue recognition guidance. The standard is effective for public entities for annual and interim periods beginning after December 15, 2016. However, the FASB has tentatively decided to defer the effective date of this new revenue standard to reporting periods beginning after December 31, 2017. The effects of this standard on our financial position, results of operations and cash flows are not yet known.

Investments

Investments	3 Months Ended
Investments	Mar. 31, 2015
Investments, Debt and Equity Securities [Abstract]
Investments	2. INVESTMENTS

	We classify all of our short-term investments as available-for-sale. We carry these at fair value and report unrealized gains and losses, net of taxes, in Accumulated other comprehensive loss (income), which is a separate component of shareholders’ equity in our Condensed Consolidated Balance Sheets. These unrealized gains and losses are also reflected in our Condensed Consolidated Statements of Comprehensive Income and Condensed Consolidated Statements of Shareholders’ Equity. Cost, gains, and losses are determined using the specific identification method.

	Investments consisted of the following as of March 31, 2015:



						Unrealized			Unrealized				Fair
			Cost Basis			Gains			Losses				Value
			(Thousands of dollars)
	Investments:
	Money market mutual funds		$	18,055		$	—		$	—			$	18,055
	U.S. Government agencies			8,007			6			(1	)			8,012
	Municipal bonds and notes			1,500			1			—				1,501
	Corporate bonds and notes			177,511			23			(137	)			177,397

	Subtotal			205,073			30			(138	)			204,965
	Deferred compensation plan assets included in other assets			2,475			—			—				2,475

	Total		$	207,548		$	30		$	(138	)		$	207,440




	Investments consisted of the following as of December 31, 2014:



						Unrealized			Unrealized				Fair
			Cost Basis			Gains			Losses				Value
			(Thousands of dollars)
	Investments:
	Money market mutual funds		$	68,612		$	—		$	—			$	68,612
	Municipal bonds and notes			1,500			2			—				1,502
	Corporate bonds and notes			130,864			19			(268	)			130,615

	Subtotal			200,976			21			(268	)			200,729
	Deferred compensation plan assets included in other assets			2,386			—			—				2,386

	Total		$	203,362		$	21		$	(268	)		$	203,115


	At March 31, 2015 and December 31, 2014, we classified $15.5 million of our aggregate investments as long-term investments and recorded them in our Condensed Consolidated Balance Sheets as Restricted investments, as they are securing outstanding letters of credit with maturities beyond one year.

	The following table presents the cost and fair value of our debt investments based on maturities as of:



			March 31, 2015						December 31, 2014
			Amortized			Fair			Amortized				Fair
			Costs			Value			Costs				Value
			(Thousands of dollars)
	Due in one year or less		$	95,682		$	95,667		$	70,180			$	70,169
	Due within two years			91,336			91,243			62,184				61,948

	Total		$	187,018		$	186,910		$	132,364			$	132,117


	The following table presents the average coupon rate percentage and the average days to maturity of our debt investments as of:



			March 31, 2015						December 31, 2014
		Average			Average			Average				Average
		Coupon			Days To			Coupon				Days To
		Rate (%)			Maturity			Rate (%)				Maturity
U.S. Government agencies			0.528			44			0				0
Municipal bonds and notes			0.869			700			0.528				134
Corporate bonds and notes			1.814			350			1.828				348



The following table presents the fair value and unrealized losses related to our investments that have been in a continuous unrealized loss position for less than twelve months as of March 31,



		2015						2014
					Unrealized							Unrealized
		Fair Value			Losses			Fair Value				Losses
		(Thousands of dollars)
U.S. Government agencies		$	1,999		$	(1	)	$	—			$	—
Corporate bonds and notes			130,231			(136	)		30,332				(30	)

Total		$	132,230		$	(137	)	$	30,332			$	(30	)


The following table presents the fair value and unrealized losses related to our investments that have been in a continuous unrealized loss position for more than twelve months as of March 31,



		2015						2014
					Unrealized							Unrealized
		Fair Value			Losses			Fair Value				Losses
		(Thousands of dollars)
Corporate bonds and notes		$	1,503		$	(1	)	$	—			$	—

Total		$	1,503		$	(1	)	$	—			$	—


From time to time over the periods covered in our financial statements included herein, our investments have experienced net unrealized losses. We consider these declines in market value to be due to market conditions, and we do not plan to sell these investments prior to maturity. For these reasons, we do not consider any of our investments to be other than temporarily impaired at March 31, 2015 or December 31, 2014. We have also determined that we did not have any other-than-temporary impairments relating to credit losses on debt securities for the three months ended March 31, 2015. For additional information regarding our criteria for making these assessments, see Note 2 to the financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2014.

Revenue_Recognition_and_Valuat

Revenue Recognition and Valuation Accounts	3 Months Ended
	Mar. 31, 2015
Text Block [Abstract]
Revenue Recognition and Valuation Accounts	3. REVENUE RECOGNITION AND VALUATION ACCOUNTS

	We have established an allowance for doubtful accounts based upon factors relating to the credit risk of specific customers, current market conditions, and other information. Our allowance for doubtful accounts was approximately $1.4 million at March 31, 2015 and December 31, 2014.

	Revenues related to flights generated by our Air Medical segment are recorded net of contractual allowances under agreements with third party payors and estimated uncompensated care when the services are provided. The allowance for contractual discounts was $98.3 million and $96.6 million as of March 31, 2015 and December 31, 2014, respectively. The allowance for uncompensated care was $36.3 million and $41.9 million as of as March 31, 2015 and December 31, 2014, respectively.

	Included in the allowance for uncompensated care listed above is the value of services to patients who are unable to pay when it is determined that they qualify for charity care. The value of these services was $2.7 million and $2.4 million for the quarters ended March 31, 2015 and 2014, respectively. The estimated cost of providing charity services was $0.6 million for the quarters ended March 31, 2015 and 2014. The estimated costs of providing charity services are based on a calculation that applies a ratio of costs to the charges for uncompensated charity care. The ratio of costs to charges is based on our Air Medical segment’s total expenses divided by gross patient service revenue.



	The allowance for contractual discounts and estimated uncompensated care (expressed as a percentage of gross segment accounts receivable) was as follows:



		Revenue
		Quarter Ended			Year Ended
		March 31,			December 31,
		2015			2014
	Allowance for Contractual Discounts		57	%		53	%
	Allowance for Uncompensated Care		21	%		23	%

	Our contract in the Middle East requires us to provide multiple services, including helicopter leasing, flight services for helicopter emergency medical service operations, aircraft maintenance, provision of spare parts, insurance coverage for the customer-owned aircraft, training services, and base construction. All services are delivered and earned monthly over a three-year contractual period which began on September 29, 2012. The customer may terminate the contract prior to the end of the contract term by giving ninety days advance notice and paying an early termination fee of $13.5 million. Each of the major services mentioned above qualify as separate units of accounting under the accounting guidance for such arrangements. The selling price for each specific service was determined based upon third-party evidence and estimates.

	We have also established valuation reserves related to obsolete and slow-moving spare parts inventory. The inventory valuation reserves were $13.7 million and $13.5 million at March 31, 2015 and December 31, 2014, respectively.

Fair_Value_Measurements

Fair Value Measurements	3 Months Ended
Fair Value Measurements	Mar. 31, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurements	4. FAIR VALUE MEASUREMENTS

	Accounting standards require that assets and liabilities carried at fair value will be classified and disclosed in one of the following three categories:

	Level 1: Quoted market prices in active markets for identical assets or liabilities.

	Level 2: Observable market based inputs or unobservable inputs that are corroborated by market data.

	Level 3: Unobservable inputs that are not corroborated by market data.

	The following table summarizes the valuation of our investments and financial instruments by the above pricing levels as of the valuation dates listed:



				March 31, 2015
		Total		(Level 1)		(Level 2)
		(Thousands of dollars)
	Investments:
	Money market mutual funds	$	18,055	$	18,055	$	—
	U.S. Government agencies		8,012		—		8,012
	Municipal bonds and notes		1,501		—		1,501
	Corporate bonds and notes		177,397		—		177,397

			204,965		18,055		186,910
	Deferred compensation plan assets		2,475		2,475		—

	Total	$	207,440	$	20,530	$	186,910




				December 31, 2014
		Total		(Level 1)		(Level 2)
		(Thousands of dollars)
	Investments:
	Money Market Mutual Funds	$	68,612	$	68,612	$	—
	Municipal bonds and notes		1,502		—		1,502
	Corporate bonds and notes		130,615		—		130,615

			200,729		68,612		132,117
	Deferred compensation plan assets		2,386		2,386		—

	Total	$	203,115	$	70,998	$	132,117


	We hold our short-term investments in an investment fund consisting of high quality money market instruments of governmental and private issuers, which is classified as a short-term investment. Level 1 inputs are quoted prices (unadjusted) for identical assets or liabilities in active markets. These items are traded with sufficient frequency and volume to provide pricing on an ongoing basis. The fair values of the shares of these funds are based on observable market prices, and therefore, have been categorized in Level 1 in the fair value hierarchy. Level 2 inputs reflect quoted prices for identical assets or liabilities that are not actively traded. These items may not be traded daily; examples include corporate bonds and U.S. government agencies debt. There have been no reclassifications of assets between Level 1 and Level 2 investments during the periods covered by the financial statements included in this report. We hold no Level 3 investments. Investments included in other assets, which relate to our liability under the Officers’ Deferred Compensation Plan, consist mainly of multiple investment funds that are highly liquid and diversified.

	Cash, accounts receivable, accounts payable and accrued liabilities, and our revolving credit facility debt all had fair values approximating their carrying amounts at March 31, 2015 and December 31, 2014. Our determination of the estimated fair value of our Senior Notes and our revolving credit facility debt is derived using Level 2 inputs, including quoted market indications of similar publicly-traded debt. The fair value of our Senior Notes, based on quoted market prices, was $464.7 million and $425.6 million at March 31, 2015 and December 31, 2014, respectively.

Long_Term_Debt

Long Term Debt	3 Months Ended
Long Term Debt	Mar. 31, 2015
Debt Disclosure [Abstract]
Long Term Debt	5. LONG-TERM DEBT

	The components of long-term debt as of the dates indicated below were as follows:



		March 31,		December 31,
		2015		2014
		(Thousands of dollars)
	Senior Notes dated March 17, 2014, interest only payable semi-annually at 5.25%, maturing March 15, 2019	$	500,000	$	500,000
	Revolving Credit Facility due October 1, 2016 with a group of commercial banks, interest payable at variable rates		39,640		43,000

	Total long-term debt	$	539,640	$	543,000


	Senior Notes - During the quarter ended March 31, 2014, we issued $500 million of 5.25% Senior Notes due March 2019. Proceeds were approximately $494 million, net of fees and expenses, and a portion of these proceeds were used to retire on March 17, 2014 $292.6 million of our $300 million previously outstanding 8.625% Senior Notes pursuant to a tender offer, at a total cost of $329.4 million including the tender premium and accrued interest. We redeemed the remaining $7.4 million of 8.625% Senior Notes on April 16, 2014, at a redemption price of 108.3% of the face amount plus accrued interest. As a result of our repurchase of 8.625% Senior Notes in March 2014, we recorded a pretax charge of $29.2 million in the quarter ended March 31, 2014, which consisted of a $26.1 million tender premium and $3.1 million of unamortized issuance costs. We recorded a pre-tax charge of $0.6 million in the second quarter of 2014 associated with our redemption on April 16, 2014 of the remaining 8.625% Senior Notes not previously tendered. Our repurchase of 8.625% Senior Notes in March 2014 and April 2014 resulted in deferred tax benefits of $11.6 million.

	Our 5.25% Senior Notes (the “2019 Notes”) will mature on March 15, 2019, are unconditionally guaranteed on a senior basis by the each of PHI’s domestic subsidiaries, and are the general, unsecured obligations of PHI and the guarantors. Interest is payable semi-annually on March 15 and September 15 of each year, beginning September 15, 2014. PHI has the option to redeem some or all of the 2019 Notes at any time on or after March 15, 2016 at specified redemption prices. Prior to that time, PHI has the option to redeem some or all of the 2019 Notes pursuant to certain “make-whole” provisions or to redeem a portion of the 2019 Notes with the net proceeds of certain specified equity offerings. The indenture governing the 2019 Notes (the “2019 Indenture”) contains, among other things, certain restrictive covenants, including limitations on incurring indebtedness, creating liens, selling assets and entering into certain transactions with affiliates. The covenants also limit PHI’s ability to, among other things, pay cash dividends on common stock, repurchase or redeem common or preferred equity, prepay subordinated debt and make certain investments. Upon the occurrence of a “Change in Control Repurchase Event” (as defined in the 2019 Indenture), PHI will be required, unless it has previously elected to redeem the 2019 Notes as described above, to make an offer to purchase the 2019 Notes for a cash price equal to 101% of their principal amount.

	Revolving Credit Facility – We have an amended and restated revolving credit facility that matures on October 1, 2016. Under this facility, we can borrow up to $150 million at floating interest rates based on either the London Interbank Offered Rate plus 225 basis points or the prime rate (each as defined in our amended and restated revolving credit facility), at our option. Our revolving credit facility includes usual and customary covenants and events of default for credit facilities of its type. Our ability to borrow under the credit facility is conditioned upon our continued compliance with such covenants, including, among others, (i) covenants that restrict our ability to engage in certain asset sales, mergers or other fundamental changes, to incur liens or to engage in certain other transactions or activities and (ii) financial covenants that stipulate that PHI will maintain a consolidated working capital ratio of at least 2 to 1, a funded debt to consolidated net worth ratio not greater than 1.5 to 1, a fixed charge coverage ratio of at least 1.1 to 1, and consolidated net worth of at least $450 million (with all such terms or amounts as defined in or determined under the amended and restated revolving credit facility).

	Other—We maintain a separate letter of credit facility that had $15.5 million in letters of credit outstanding at March 31, 2015 and December 31, 2014.



	Cash paid to fund interest expense was $13.5 million for the quarter ended March 31, 2015 and $11.3 million for the quarter ended March 31, 2014. Included in the 2014 interest expense was $10.7 million of accrued interest expense paid for the 8.625% Senior Notes that we purchased on March 17, 2014 and April 16, 2014 in the transactions described above.

Earnings_Per_Share

Earnings Per Share	3 Months Ended
Earnings Per Share	Mar. 31, 2015
Earnings Per Share [Abstract]
Earnings Per Share	6. EARNINGS PER SHARE

	The components of basic and diluted earnings per share for the quarter ended March 31, are as follows:



		2015		2014
		(Thousands of shares)
	Weighted average outstanding shares of common stock, basic		15,579		15,480
	Dilutive effect of restricted stock units		83		—

	Weighted average outstanding shares of common stock, diluted		15,662		15,480


	Restricted stock units were excluded from the “Weighted average outstanding shares of common stock, diluted” for the three months ended March 31, 2014 because the net loss with respect to such shares for such quarter is anti-dilutive.

StockBased_Compensation

Stock-Based Compensation	3 Months Ended
Stock-Based Compensation	Mar. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation	7. STOCK-BASED COMPENSATION

	We recognize the cost of employee compensation received in the form of equity instruments based on the grant date fair value of those awards. The table below sets forth the total amount of stock-based compensation expense for the three months ended March 31, 2015 and 2014.



		Three Months Ended
		March 31,
		2015		2014
		(Thousands of dollars)
	Stock-based compensation expense:
	Time-based restricted stock units	$	637	$	127
	Performance-based restricted stock units		1,082		561

	Total stock-based compensation expense	$	1,719	$	688


	During the quarter ended March 31, 2015, we awarded 18,930 time-based and 151,566 performance-based restricted stock units to managerial employees. During the quarter ended March 31, 2014, we awarded 20,364 time-based restricted stock units to managerial employees.

Asset_Disposals_and_Impairment

Asset Disposals and Impairments	3 Months Ended
Asset Disposals and Impairments	Mar. 31, 2015
Text Block [Abstract]
Asset Disposals and Impairments	8. ASSET DISPOSALS AND IMPAIRMENTS

	There were no sales or disposals of aircraft during the first quarter of 2015, but we did transact minor sales and disposals of various ancillary equipment.

	During the first quarter of 2014, we sold two light aircraft previously utilized in our Air Medical segment and two fixed wing aircraft utilized in our Oil and Gas segment. Cash proceeds totaled $3.0 million, resulting in a loss on the sale of these assets of $1.1 million. These aircraft no longer met our strategic needs.

Commitments_and_Contingencies

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	9. COMMITMENTS AND CONTINGENCIES

	Commitments – In 2014, we exercised our option to purchase six additional new heavy helicopters for our Oil and Gas segment with deliveries scheduled in 2015 and 2016. One aircraft was delivered in the first quarter of 2015.

	Total aircraft deposits of $7.4 million were included in Other Assets as of March 31, 2015. This amount represents deposits paid by us as required under aircraft purchase contracts.

	On January 2, 2015, we purchased one heavy aircraft off lease pursuant to a purchase option in the lease contract for an aggregate purchase price of $17.7 million.



	As of March 31, 2015, we had options to purchase various aircraft that we currently operate under lease agreements with the aircraft owners. These options will become exercisable at various dates in 2016 through 2019. The aggregate option purchase prices are $67.8 million in 2016, $55.7 million in 2017, $127.0 million in 2018, and $150.4 million in 2019. Subject to market conditions and available cash, we currently intend to exercise these options as they become exercisable.

	Environmental Matters – We have recorded an aggregate estimated probable liability of $0.2 million as of March 31, 2015 for environmental response costs. We have conducted environmental surveys of our former Lafayette facility located at the Lafayette Regional Airport, which we vacated in 2001, and have determined that limited soil and groundwater contamination exists at two parcels of land at the former facility. We submitted an assessment report for both sites in 2003, updated it in 2006, and received approvals of our remediation plan from the Louisiana Department of Environmental Quality (“LDEQ”) and Louisiana Department of Natural Resources in 2010 and 2011, respectively. Since such time, we have installed groundwater monitoring wells at these sites and furnished periodic reports on contamination levels to the LDEQ. Pursuant to our agreement with the LDEQ, we are currently providing samples twice a year for both sites. Based upon our working relationship and agreements with the LDEQ and the results of our ongoing site monitoring, we believe, based on current circumstances, that our ultimate remediation costs for these sites will not be material to our consolidated financial position, results of operations, or cash flows.

	Legal Matters – We are named as a defendant in various legal actions that have arisen in the ordinary course of business and have not been finally adjudicated. In the opinion of management, after considering available defenses and any insurance coverage or indemnification rights, the amount of the liability with respect to these actions will not have a material effect on the Company’s consolidated financial position, results of operations, or cash flows.

	Operating Leases – We lease certain aircraft, facilities, and equipment used in our operations. The related lease agreements, which include both non-cancelable and month-to-month terms, generally provide for fixed monthly rentals, and certain real estate leases also include renewal options. We generally pay all insurance, taxes, and maintenance expenses associated with these leases. All aircraft leases contain purchase options exercisable by us at certain dates in the lease agreements.

	At March 31, 2015, we had approximately $305.6 million in aggregate commitments under operating leases of which approximately $38.3 million is payable through December 31, 2015. The total lease commitments include $290.8 million for aircraft and $14.8 million for facility lease commitments.

Segment_Information

Segment Information	3 Months Ended
Segment Information	Mar. 31, 2015
Segment Reporting [Abstract]
Segment Information	10. SEGMENT INFORMATION

	PHI is primarily a provider of helicopter transport services, including helicopter maintenance and repair services. We use a combination of factors to identify reportable segments as required by Accounting Standards Codification 280, “Segment Reporting.” The overriding determination of our segments is based on how the chief operating decision-maker, our Chairman of the Board and Chief Executive Officer, evaluates our results of operations. The underlying factors include customer bases, types of service, operational management, physical locations, and underlying economic characteristics of the types of work we perform.

	A segment’s operating profit is its operating revenues less its direct expenses and selling, general and administrative expenses. Each segment has a portion of our total selling, general and administrative expenses that is charged directly to the segment and a small portion that is allocated to that segment. Allocated selling, general and administrative expenses are based primarily on total segment direct expenses as a percentage of total direct expenses. Unallocated overhead consists primarily of corporate selling, general and administrative expenses that we do not allocate to the reportable segments.

	Oil and Gas Segment. Our Oil and Gas segment, headquartered in Lafayette, Louisiana, provides helicopter services primarily for the major integrated and independent oil and gas production companies transporting personnel and/or equipment to offshore platforms in the Gulf of Mexico. Our customers include Shell Oil Company, BP America Production Company, ExxonMobil Production Co., and ConocoPhillips Company, with whom we have worked for 30 or more years, and ENI Petroleum, with whom we have worked for more than 15 years. At March 31, 2015, we operated 168 aircraft in this segment.



	Operating revenue from our Oil and Gas segment is derived mainly from contracts that include a fixed monthly rate for a particular model of aircraft, plus a variable rate for flight time. A small portion of our Oil and Gas segment revenue is derived from providing services on an “ad hoc” basis. Operating costs for our Oil and Gas segment are primarily aircraft operations costs, including costs for pilots and maintenance personnel. Total fuel cost is included in direct expense and any reimbursement of a portion of these costs above a contracted per-gallon amount is included in revenue. For the quarters ended March 31, 2015 and 2014, approximately 59% and 64% of our total operating revenues were generated by our Oil and Gas operations, respectively.

	Air Medical Segment. Our Air Medical operations are headquartered in Phoenix, Arizona, where we maintain significant separate facilities and administrative staff dedicated to this segment. Those costs are charged directly to our Air Medical segment.

	As of March 31, 2015, 100 aircraft were assigned to our Air Medical segment. At such date, we operated approximately 91 aircraft domestically, providing air medical transportation services for hospitals and emergency service agencies in 18 states at 70 separate locations. We also provide air medical transportation services for a customer overseas. For this program, we have deployed nine aircraft at five locations, with eight aircraft generating revenues as of March 31, 2015. Our Air Medical segment operates primarily under the independent provider model and, to a lesser extent, under the traditional provider model. Under the independent provider model, we have no contracts and no fixed revenue stream and compete for transport referrals on a daily basis with other independent operators in the area. Under the traditional provider model, we contract directly with the customer to provide their transportation services, with the contracts typically awarded through competitive bidding. For the quarters ended March 31, 2015 and 2014, approximately 35% and 34% of our total operating revenues were generated by our Air Medical operations, respectively.

	As an independent provider, we bill for our services on the basis of a flat rate plus a variable charge per patient-loaded mile, regardless of aircraft model, and are typically compensated by private insurance, Medicaid, or Medicare or directly by the transported patient. As further described in Note 3, revenues are recorded net of contractual allowances under agreements with third party payors and estimated uncompensated care at the time the services are provided. Contractual allowances and uncompensated care are estimated based on historical collection experience by payor category (consisting mainly of insurance, Medicaid, Medicare, and self-pay). Estimates regarding the payor mix and changes in reimbursement rates are the factors most subject to sensitivity and variability in calculating our allowances. We compute a historical payment analysis of accounts fully closed, by category.

	Provisions for contractual discounts and estimated uncompensated care for Air Medical operations as a percentage of gross segment billings for the following periods were as follows:



			Revenue
			Quarter Ended
			March 31,
			2015				2014
	Gross Air Medical segment billings			100	%			100	%
	Provision for contractual discounts			74	%			69	%
	Provision for uncompensated care			0	%			3	%

	These percentages are affected by rate increases and changes in the number of transports by payor mix.

	Net reimbursement per transport from commercial payors generally increases when a rate increase is implemented. Net reimbursement from certain commercial payors, as well as Medicare and Medicaid, does not increase proportionately with rate increases.



	Net revenue attributable to Insurance, Medicare, Medicaid, and Self-Pay as a percentage of net Air Medical revenues are as follows:



			Quarter Ended
			March 31,
			2015				2014
	Insurance			75	%			70	%
	Medicare			17	%			20	%
	Medicaid			8	%			8	%
	Self-Pay			0	%			2	%

	We also have a limited number of contracts with hospitals under which we receive a fixed monthly rate for aircraft availability and an hourly rate for flight time. Those contracts generated approximately 42% of the segment’s revenues for the quarters ended March 31, 2015 and 2014.

	Technical Services Segment. Our Technical Services operations provide maintenance and repairs for our existing customers that own their aircraft. These services are generally labor intensive with higher operating margins as compared to other segments. Depending on when we commence and complete special projects for customers, our results for this segment can vary significantly from period to period, although these variances typically have a limited impact on our consolidated operating results. The Technical Services segment also conducts flight operations for the National Science Foundation in Antarctica, which are typically conducted in the first and fourth quarters each year.

	For the three months ended March 31, 2015 and 2014, approximately 6% and 2%, respectively, of our total operating revenues were generated by our Technical Services operations.



	Summarized financial information concerning our reportable operating segments for the quarters ended March 31, 2015 and 2014 is as follows:



			Quarter Ended
			March 31,
			2015				2014
			(Thousands of dollars)
Segment operating revenues
Oil and Gas		$	120,396			$	125,975
Air Medical			72,385				67,952
Technical Services			11,416				3,144

Total operating revenues			204,197				197,071

Segment direct expenses (1)
Oil and Gas (2)			100,331				97,374
Air Medical			60,039				59,379
Technical Services			8,905				1,941

Total segment direct expenses			169,275				158,694
Segment selling, general and administrative expenses
Oil and Gas			1,159				1,034
Air Medical			2,629				2,153
Technical Services			114				2

Total selling, general and administrative expenses			3,902				3,189

Total direct and selling, general and administrative expenses			173,177				161,883

Net segment profit
Oil and Gas			18,906				27,567
Air Medical			9,717				6,420
Technical Services			2,397				1,201

Total net segment profit			31,020				35,188
Other, net (3)			469				(982	)
Unallocated selling, general and administrative costs (1)			(7,335	)			(6,139	)
Interest expense			(7,170	)			(7,364	)
Loss on debt extinguishment			—				(29,216	)

Earnings (loss) before income taxes		$	16,984			$	(8,513	)



-1	Included in segment direct expenses and unallocated selling, general, and administrative costs are the depreciation and amortization expense amounts below:



		Depreciation and
		Amortization Expense
		Quarter Ended
		March 31,
		2015				2014
Segment Direct Expense:
Oil and Gas		$	11,280			$	6,853
Air Medical			4,097				3,076
Technical Services			128				87

Total		$	15,505			$	10,016

Unallocated SG&A		$	2,646			$	1,347



-2	Includes Equity in loss of unconsolidated affiliate.
-3	Consists of gains on disposition of property and equipment, and other income.

Investment_in_Variable_Interes

Investment in Variable Interest Entity	3 Months Ended
Investment in Variable Interest Entity	Mar. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Investment in Variable Interest Entity	11. INVESTMENT IN VARIABLE INTEREST ENTITY

	We account for our investment in our West African operations as a variable interest entity, which is defined as an entity that either (a) has insufficient equity to permit the entity to finance its operations without additional subordinated financial support or (b) has equity investors who lack the characteristics of a controlling financial interest. As of March 31, 2015, we had a 49% investment in the common stock of PHI Century Limited (“PHIC”), a Ghanaian entity. We acquired our 49% interest on May 26, 2011, PHIC’s date of incorporation. The purpose of PHIC is to provide oil and gas flight services in Ghana and the West African region. For the quarter ended March 31, 2015 and 2014, we recorded a loss in equity of unconsolidated affiliate less than $0.1 million, relative to our 49% equity ownership, respectively. In addition, we had $2.8 million of trade receivables and $1.0 million of accrued liabilities as of March 31, 2015 from PHIC. We had $2.8 million of trade receivables and a $0.9 million of accrued liabilities as of December 31, 2014. The trade receivables are included in Accounts receivable—trade on our Condensed Consolidated Balance Sheets. The accrued liabilities are included in Accrued and other current liabilities on our Condensed Consolidated Balance Sheets. Our investment in the common stock of PHIC is included in Other assets on our Condensed Consolidated Balance Sheets and was $-0- million at March 31, 2015 and December 31, 2014.

Other_Comprehensive_Income

Other Comprehensive Income	3 Months Ended
Other Comprehensive Income	Mar. 31, 2015
Equity [Abstract]
Other Comprehensive Income	12. OTHER COMPREHENSIVE INCOME

	Amounts reclassified from Accumulated other comprehensive income are not material and, therefore, not presented separately in the Condensed Consolidated Statements of Comprehensive Income.

Condensed_Consolidating_Financ

Condensed Consolidating Financial Information	3 Months Ended
Condensed Consolidating Financial Information	Mar. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Condensed Consolidating Financial Information	13. CONDENSED CONSOLIDATING FINANCIAL INFORMATION

	As discussed further in Note 5, on March 17, 2014, PHI, Inc. issued $500 million of 5.25% Senior Notes due 2019 that are fully and unconditionally guaranteed on a joint and several, senior basis by all of our domestic subsidiaries. All of our domestic subsidiaries are 100% owned.

	The following supplemental condensed financial information on the following pages sets forth, on a consolidated basis, the balance sheet, statement of operations, statement of comprehensive income, and statement of cash flows information for PHI, Inc. (“Parent Company Only”) and the guarantor subsidiaries. The eliminating entries eliminate investments in subsidiaries, intercompany balances, and intercompany revenues and expenses. The condensed consolidating financial statements have been prepared on the same basis as the consolidated financial statements of PHI, Inc. The equity method is followed by the parent company within the financial information presented below.



	PHI, INC. AND SUBSIDIARIES

	CONDENSED CONSOLIDATING BALANCE SHEETS

	(Thousands of dollars)

	(Unaudited)



			March 31, 2015
			Parent				Guarantor			Eliminations				Consolidated
			Company				Subsidiaries (1)
			Only (issuer)
	ASSETS
	Current Assets:
	Cash		$	51			$	3,572		$	—			$	3,623
	Short-term investments			189,480				—			—				189,480
	Accounts receivable—net			100,167				60,060			—				160,227
	Intercompany receivable			—				95,103			(95,103	)			—
	Inventories of spare parts—net			62,954				8,498			—				71,452
	Prepaid expenses			8,475				2,600			—				11,075
	Deferred income taxes			9,914				—			—				9,914
	Income taxes receivable			1,067				159			—				1,226

	Total current assets			372,108				169,992			(95,103	)			446,997
	Investment in subsidiaries			336,676				—			(336,676	)			—
	Property and equipment—net			680,419				236,923			—				917,342
	Restricted investments			15,485				—			—				15,485
	Other assets			14,891				204			—				15,095

	Total assets		$	1,419,579			$	407,119		$	(431,779	)		$	1,394,919

	LIABILITIES AND SHAREHOLDERS’ EQUITY
	Current Liabilities:
	Accounts payable		$	51,344			$	4,870		$	—			$	56,214
	Accrued and other current liabilities			21,233				8,852			—				30,085
	Intercompany payable			95,103				—			(95,103	)			—

	Total current liabilities			167,680				13,722			(95,103	)			86,299
	Long-term debt			539,640				—			—				539,640
	Deferred income taxes and other long-term liabilities			105,208				56,721			—				161,929
	Shareholders’ Equity:
	Common stock and paid-in capital			302,593				109,982			(109,982	)			302,593
	Accumulated other comprehensive loss			(102	)			—			—				(102	)
	Retained earnings			304,560				226,694			(226,694	)			304,560

	Total shareholders’ equity			607,051				336,676			(336,676	)			607,051

	Total liabilities and shareholders’ equity		$	1,419,579			$	407,119		$	(431,779	)		$	1,394,919



	-1	Foreign subsidiaries represent minor subsidiaries and are included in the guarantors subsidiaries’ amounts.



PHI, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING BALANCE SHEETS

(Thousands of dollars)



		December 31, 2014
		Parent				Guarantor			Eliminations				Consolidated
		Company				Subsidiaries (1)
		Only (issuer)
ASSETS
Current Assets:
Cash		$	51			$	6,219		$	—			$	6,270
Short-term investments			185,244				—			—				185,244
Accounts receivable—net			98,001				82,760			—				180,761
Intercompany receivable			—				95,399			(95,399	)			—
Inventories of spare parts—net			65,341				8,452			—				73,793
Prepaid expenses			7,610				1,704			—				9,314
Deferred income taxes			9,915				—			—				9,915
Income taxes receivable			1,068				159			—				1,227

Total current assets			367,230				194,693			(95,399	)			466,524
Investment in subsidiaries and others			358,080				—			(358,080	)			—
Property and equipment, net			638,437				239,381			—				877,818
Restricted investments			15,485				—			—				15,485
Other assets			16,055				198			—				16,253

Total assets		$	1,395,287			$	434,272		$	(453,479	)		$	1,376,080

LIABILITIES AND SHAREHOLDERS’ EQUITY
Current Liabilities:
Accounts payable		$	22,578			$	5,122		$	—			$	27,700
Accrued and other current liabilities			34,477				18,335			—				52,812
Intercompany payable			95,270				—			(95,270	)			—

Total current liabilities			152,325				23,457			(95,270	)			80,512
Long-term debt			543,000				—			—				543,000
Deferred income taxes and other long-term liabilities			102,894				52,606			—				155,500
Shareholders’ Equity:
Common stock and paid-in capital			303,082				137,647			(137,647	)			303,082
Accumulated other comprehensive loss			(211	)			—			—				(211	)
Retained earnings			294,197				220,562			(220,562	)			294,197

Total shareholders’ equity			597,068				358,209			(358,209	)			597,068

Total liabilities and shareholders’ equity		$	1,395,287			$	434,272		$	(453,479	)		$	1,376,080



-1	Foreign subsidiaries represent minor subsidiaries and are included in the guarantors subsidiaries’ amounts.



PHI, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS

(Thousands of dollars)

(Unaudited)



		For the quarter ended March 31, 2015
		Parent				Guarantor			Eliminations				Consolidated
		Company				Subsidiaries (1)
		Only (issuer)
Operating revenues, net		$	128,658			$	75,539		$	—			$	204,197
Expenses:
Direct expenses			106,481				62,730			(4	)			169,207
Selling, general and administrative expenses			8,508				2,729			—				11,237

Total operating expenses			114,989				65,459			(4	)			180,444
Gain on disposal of assets, net			(7	)			—			—				(7	)
Equity in loss of unconsolidated affiliate			68				—			—				68

Operating income			13,608				10,080			(4	)			23,692
Equity in net income of consolidated subsidiaries			(6,131	)			—			6,131				—
Interest expense			7,170				—			—				7,170
Other income, net			(462	)			(4	)		4				(462	)

			577				(4	)		6,135				6,708

Earnings before income taxes			13,031				10,084			(6,131	)			16,984
Income tax expense			2,668				3,953			—				6,621

Net earnings		$	10,363			$	6,131		$	(6,131	)		$	10,363


		For the quarter ended March 31, 2014
		Parent				Guarantor			Eliminations				Consolidated
		Company				Subsidiaries (1)
		Only (issuer)
Operating revenues, net		$	124,354			$	72,717		$	—			$	197,071
Expenses:
Direct expenses			96,426				62,227			—				158,653
Selling, general and administrative expenses			7,081				2,247			—				9,328
Management fees			(2,909	)			2,909			—				—

Total operating expenses			100,598				67,383			—				167,981
Loss on disposal of assets, net			115				958			—				1,073
Equity in loss of unconsolidated affiliate			41				—			—				41

Operating income			23,600				4,376			—				27,976
Equity in net income of consolidated subsidiaries			(2,735	)			—			2,735				—
Interest expense			7,364				—			—				7,364
Loss on debt extinguishment			29,216				—			—				29,216
Other income, net			(91	)			—			—				(91	)

			33,754				—			2,735				36,489

(Loss) earnings before income taxes			(10,154	)			4,376			(2,735	)			(8,513	)
Income tax (benefit) expense			(4,833	)			1,641			—				(3,192	)

Net (loss) earnings		$	(5,321	)		$	2,735		$	(2,735	)		$	(5,321	)



-1	Foreign subsidiaries represent minor subsidiaries and are included in the guarantors subsidiaries’ amounts.



PHI, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

(Thousands of dollars)

(Unaudited)



		For the quarter ended March 31, 2015
		Parent				Guarantor			Eliminations				Consolidated
		Company				Subsidiaries (1)
		Only (issuer)
Net earnings		$	10,363			$	6,131		$	(6,131	)		$	10,363
Unrealized gain on short-term investments			139				—			—				139
Other unrealized gain			24				—			—				24
Tax effect of preceding gains, losses or changes			(55	)			—			—				(55	)

		$	10,471			$	6,131		$	(6,131	)		$	10,471


		For the quarter ended March 31, 2014
		Parent				Guarantor			Eliminations				Consolidated
		Company				Subsidiaries (1)
		Only (issuer)
Net (loss) earnings		$	(5,321	)		$	2,735		$	(2,735	)		$	(5,321	)
Unrealized gain on short-term investments			14				—			—				14
Changes in pension plan assets and benefit obligations			(1	)			—			—				(1	)
Tax effect of preceding gains, losses or changes			(5	)			—			—				(5	)

		$	(5,313	)		$	2,735		$	(2,735	)		$	(5,313	)



-1	Foreign subsidiaries represent minor subsidiaries and are included in the guarantors subsidiaries’ amounts.



PHI, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

(Thousands of dollars)

(Unaudited)



		For the three months ended March 31, 2015
		Parent				Guarantor			Eliminations				Consolidated
		Company				Subsidiaries (1)
		Only (issuer)
Net cash provided by operating activities		$	4,637			$	25,281		$	—			$	29,918
Investing activities:
Purchase of property and equipment			(22,115	)			—			—				(22,115	)
Purchase of short-term investments			(190,243	)			—			—				(190,243	)
Proceeds from sale of short-term investments			185,426				—			—				185,426
Payments of deposits on aircraft			(66	)			—			—				(66	)

Net cash used in investing activities			(26,998	)			—			—				(26,998	)

Financing activities:
Proceeds from line of credit			77,740				—			—				77,740
Payments on line of credit			(81,100	)			—			—				(81,100	)
Repurchase of common stock			(2,207	)										(2,207	)
Due to/from affiliate, net			27,928				(27,928	)		—				—

Net cash provided by (used in) financing activities			22,361				(27,928	)		—				5,567

Decrease in cash			—				(2,647	)		—				(2,647	)
Cash, beginning of period			51				6,219			—				6,270

Cash, end of period		$	51			$	3,572		$	—			$	3,623



-1	Foreign subsidiaries represent minor subsidiaries and are included in the guarantors subsidiaries’ amounts.



PHI, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

(Thousands of dollars)

(Unaudited)



		For the three months ended March 31, 2014
		Parent				Guarantor			Eliminations				Consolidated
		Company				Subsidiaries (1)(2)
		Only (issuer)
Net cash provided by operating activities		$	(4,368	)		$	10,490		$	—			$	6,122
Investing activities:
Purchase of property and equipment			(38,746	)			—			—				(38,746	)
Proceeds from asset dispositions			2,994				—			—				2,994
Purchase of short-term investments			(140,551	)			—			—				(140,551	)
Proceeds from sale of short-term investments			84,692				—			—				84,692
Refund of deposits on aircraft			3,926				—			—				3,926
Payments of deposits on aircraft			(6,499	)			—			—				(6,499	)

Net cash used in investing activities			(94,184	)			—			—				(94,184	)

Financing activities:
Proceeds from issuance of Senior Notes due 2019			500,000				—			—				500,000
Premium and costs to retire debt early			(26,132	)			—			—				(26,132	)
Repayment of Senior Notes due 2018			(292,571	)			—			—				(292,571	)
Debt issuance costs			(5,657	)			—			—				(5,657	)
Proceeds from line of credit			95,500				—			—				95,500
Payments on line of credit			(174,500	)			—			—				(174,500	)
Repurchase of common stock for payroll tax withholding requirements			(176	)			—			—				(176	)
Due to/from affiliate			9,415				(9,415	)		—				—

Net cash provided by financing activities			105,879				(9,415	)		—				96,464

Increase in cash			7,327				1,075			—				8,402
Cash, beginning of period			52				882			—				934

Cash, end of period		$	7,379			$	1,957		$	—			$	9,336



-1	Foreign subsidiaries represent minor subsidiaries and are included in the guarantors subsidiaries’ amounts.
-2	Cash flows between the Parent Company and Guarantor Subsidiaries related to the Company’s centralized cash management activities in 2014 have been adjusted to show the effects on net cash provided by operating and financing activities.

Basis_of_Presentation_Policies

Basis of Presentation (Policies)	3 Months Ended
Basis of Presentation (Policies)	Mar. 31, 2015
Accounting Policies [Abstract]
Accounting Policies	Accounting Policies—In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers, which provides a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and will supersede most current revenue recognition guidance. The standard is effective for public entities for annual and interim periods beginning after December 15, 2016. However, the FASB has tentatively decided to defer the effective date of this new revenue standard to reporting periods beginning after December 31, 2017. The effects of this standard on our financial position, results of operations and cash flows are not yet known.

Investments_Tables

Investments (Tables)	3 Months Ended
Investments (Tables)	Mar. 31, 2015
Investments, Debt and Equity Securities [Abstract]
Components of Investments	Investments consisted of the following as of March 31, 2015:



				Unrealized			Unrealized			Fair
		Cost Basis		Gains			Losses			Value
		(Thousands of dollars)
	Investments:
	Money market mutual funds	$	18,055	$	—		$	—		$	18,055
	U.S. Government agencies		8,007		6			(1	)		8,012
	Municipal bonds and notes		1,500		1			—			1,501
	Corporate bonds and notes		177,511		23			(137	)		177,397

	Subtotal		205,073		30			(138	)		204,965
	Deferred compensation plan assets included in other assets		2,475		—			—			2,475

	Total	$	207,548	$	30		$	(138	)	$	207,440




	Investments consisted of the following as of December 31, 2014:



				Unrealized			Unrealized			Fair
		Cost Basis		Gains			Losses			Value
		(Thousands of dollars)
	Investments:
	Money market mutual funds	$	68,612	$	—		$	—		$	68,612
	Municipal bonds and notes		1,500		2			—			1,502
	Corporate bonds and notes		130,864		19			(268	)		130,615

	Subtotal		200,976		21			(268	)		200,729
	Deferred compensation plan assets included in other assets		2,386		—			—			2,386

	Total	$	203,362	$	21		$	(268	)	$	203,115

Cost and Fair Value of Debt Investments Based on Maturities	The following table presents the cost and fair value of our debt investments based on maturities as of:



		March 31, 2015					December 31, 2014
		Amortized		Fair			Amortized			Fair
		Costs		Value			Costs			Value
		(Thousands of dollars)
	Due in one year or less	$	95,682	$	95,667		$	70,180		$	70,169
	Due within two years		91,336		91,243			62,184			61,948

	Total	$	187,018	$	186,910		$	132,364		$	132,117

Average Coupon Rate Percentage and Average Days to Maturity of Debt	The following table presents the average coupon rate percentage and the average days to maturity of our debt investments as of:



		March 31, 2015					December 31, 2014
		Average		Average			Average			Average
		Coupon		Days To			Coupon			Days To
		Rate (%)		Maturity			Rate (%)			Maturity
	U.S. Government agencies		0.528		44			0			0
	Municipal bonds and notes		0.869		700			0.528			134
	Corporate bonds and notes		1.814		350			1.828			348
Investments in Continuous Unrealized Loss Position for Less Than Twelve Months	The following table presents the fair value and unrealized losses related to our investments that have been in a continuous unrealized loss position for less than twelve months as of March 31,



		2015					2014
				Unrealized						Unrealized
		Fair Value		Losses			Fair Value			Losses
		(Thousands of dollars)
	U.S. Government agencies	$	1,999	$	(1	)	$	—		$	—
	Corporate bonds and notes		130,231		(136	)		30,332			(30	)

	Total	$	132,230	$	(137	)	$	30,332		$	(30	)

Investments in Continuous Unrealized Loss Position for More Than Twelve Months	The following table presents the fair value and unrealized losses related to our investments that have been in a continuous unrealized loss position for more than twelve months as of March 31,



		2015					2014
				Unrealized						Unrealized
		Fair Value		Losses			Fair Value			Losses
		(Thousands of dollars)
	Corporate bonds and notes	$	1,503	$	(1	)	$	—		$	—

	Total	$	1,503	$	(1	)	$	—		$	—

Revenue_Recognition_and_Valuat1

Revenue Recognition and Valuation Accounts (Tables)	3 Months Ended
	Mar. 31, 2015
Text Block [Abstract]
Schedule of Allowance for Contractual Discounts and Estimated Uncompensated Care as a Percentage of Gross Segment Accounts Receivable	The allowance for contractual discounts and estimated uncompensated care (expressed as a percentage of gross segment accounts receivable) was as follows:



		Revenue
		Quarter Ended			Year Ended
		March 31,			December 31,
		2015			2014
	Allowance for Contractual Discounts		57	%		53	%
	Allowance for Uncompensated Care		21	%		23	%

Fair_Value_Measurements_Tables

Fair Value Measurements (Tables)	3 Months Ended
Fair Value Measurements (Tables)	Mar. 31, 2015
Fair Value Disclosures [Abstract]
Summary of Valuation of Investments and Financial Instruments Pricing Levels	The following table summarizes the valuation of our investments and financial instruments by the above pricing levels as of the valuation dates listed:



				March 31, 2015
		Total		(Level 1)		(Level 2)
		(Thousands of dollars)
	Investments:
	Money market mutual funds	$	18,055	$	18,055	$	—
	U.S. Government agencies		8,012		—		8,012
	Municipal bonds and notes		1,501		—		1,501
	Corporate bonds and notes		177,397		—		177,397

			204,965		18,055		186,910
	Deferred compensation plan assets		2,475		2,475		—

	Total	$	207,440	$	20,530	$	186,910




				December 31, 2014
		Total		(Level 1)		(Level 2)
		(Thousands of dollars)
	Investments:
	Money Market Mutual Funds	$	68,612	$	68,612	$	—
	Municipal bonds and notes		1,502		—		1,502
	Corporate bonds and notes		130,615		—		130,615

			200,729		68,612		132,117
	Deferred compensation plan assets		2,386		2,386		—

	Total	$	203,115	$	70,998	$	132,117

Long_Term_Debt_Tables

Long Term Debt (Tables)	3 Months Ended
Long Term Debt (Tables)	Mar. 31, 2015
Debt Disclosure [Abstract]
Components of Long-term Debt	The components of long-term debt as of the dates indicated below were as follows:



		March 31,		December 31,
		2015		2014
		(Thousands of dollars)
	Senior Notes dated March 17, 2014, interest only payable semi-annually at 5.25%, maturing March 15, 2019	$	500,000	$	500,000
	Revolving Credit Facility due October 1, 2016 with a group of commercial banks, interest payable at variable rates		39,640		43,000

	Total long-term debt	$	539,640	$	543,000

Earnings_Per_Share_Tables

Earnings Per Share (Tables)	3 Months Ended
Earnings Per Share (Tables)	Mar. 31, 2015
Earnings Per Share [Abstract]
Components of Basic and Diluted Earnings Per Share	The components of basic and diluted earnings per share for the quarter ended March 31, are as follows:



		2015		2014
		(Thousands of shares)
	Weighted average outstanding shares of common stock, basic		15,579		15,480
	Dilutive effect of restricted stock units		83		—

	Weighted average outstanding shares of common stock, diluted		15,662		15,480

StockBased_Compensation_Tables

Stock-Based Compensation (Tables)	3 Months Ended
Stock-Based Compensation (Tables)	Mar. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of Share Based Compensation Expense	The table below sets forth the total amount of stock-based compensation expense for the three months ended March 31, 2015 and 2014.



		Three Months Ended
		March 31,
		2015		2014
		(Thousands of dollars)
	Stock-based compensation expense:
	Time-based restricted stock units	$	637	$	127
	Performance-based restricted stock units		1,082		561

	Total stock-based compensation expense	$	1,719	$	688

Segment_Information_Tables

Segment Information (Tables)	3 Months Ended
Segment Information (Tables)	Mar. 31, 2015
Segment Reporting [Abstract]
Schedule of Provisions for Contractual Discounts and Estimated Uncompensated Care as a Percentage of Gross Segment Billings	Provisions for contractual discounts and estimated uncompensated care for Air Medical operations as a percentage of gross segment billings for the following periods were as follows:



			Revenue
			Quarter Ended
			March 31,
			2015			2014
	Gross Air Medical segment billings			100	%		100	%
	Provision for contractual discounts			74	%		69	%
	Provision for uncompensated care			0	%		3	%
Schedule of Net Revenue Attributable to Medicaid, Medicare, Insurance, and Self-Pay as a Percentage of Net Air Medical Revenues	Net revenue attributable to Insurance, Medicare, Medicaid, and Self-Pay as a percentage of net Air Medical revenues are as follows:



			Quarter Ended
			March 31,
			2015			2014
	Insurance			75	%		70	%
	Medicare			17	%		20	%
	Medicaid			8	%		8	%
	Self-Pay			0	%		2	%
Schedule of Financial Information Concerning Reportable Operating Segments	Summarized financial information concerning our reportable operating segments for the quarters ended March 31, 2015 and 2014 is as follows:



			Quarter Ended
			March 31,
			2015			2014
			(Thousands of dollars)
	Segment operating revenues
	Oil and Gas		$	120,396		$	125,975
	Air Medical			72,385			67,952
	Technical Services			11,416			3,144

	Total operating revenues			204,197			197,071

	Segment direct expenses (1)
	Oil and Gas (2)			100,331			97,374
	Air Medical			60,039			59,379
	Technical Services			8,905			1,941

	Total segment direct expenses			169,275			158,694
	Segment selling, general and administrative expenses
	Oil and Gas			1,159			1,034
	Air Medical			2,629			2,153
	Technical Services			114			2

	Total selling, general and administrative expenses			3,902			3,189

	Total direct and selling, general and administrative expenses			173,177			161,883

	Net segment profit
	Oil and Gas			18,906			27,567
	Air Medical			9,717			6,420
	Technical Services			2,397			1,201

	Total net segment profit			31,020			35,188
	Other, net (3)			469			(982	)
	Unallocated selling, general and administrative costs (1)			(7,335	)		(6,139	)
	Interest expense			(7,170	)		(7,364	)
	Loss on debt extinguishment			—			(29,216	)

	Earnings (loss) before income taxes		$	16,984		$	(8,513	)



	-1	Included in segment direct expenses and unallocated selling, general, and administrative costs are the depreciation and amortization expense amounts below:
	-2	Includes Equity in loss of unconsolidated affiliate.
	-3	Consists of gains on disposition of property and equipment, and other income.
Depreciation and Amortization Expense Included in Direct Expenses and Unallocated Selling, General, and Administrative Costs
			Depreciation and
			Amortization Expense
			Quarter Ended
			March 31,
			2015			2014
	Segment Direct Expense:
	Oil and Gas		$	11,280		$	6,853
	Air Medical			4,097			3,076
	Technical Services			128			87

	Total		$	15,505		$	10,016

	Unallocated SG&A		$	2,646		$	1,347

Condensed_Consolidating_Financ1

Condensed Consolidating Financial Information (Tables)	3 Months Ended
Condensed Consolidating Financial Information (Tables)	Mar. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Condensed Consolidating Balance Sheets	PHI, INC. AND SUBSIDIARIES

	CONDENSED CONSOLIDATING BALANCE SHEETS

	(Thousands of dollars)

	(Unaudited)



			March 31, 2015
			Parent				Guarantor				Eliminations				Consolidated
			Company				Subsidiaries (1)
			Only (issuer)
	ASSETS
	Current Assets:
	Cash		$	51			$	3,572			$	—			$	3,623
	Short-term investments			189,480				—				—				189,480
	Accounts receivable—net			100,167				60,060				—				160,227
	Intercompany receivable			—				95,103				(95,103	)			—
	Inventories of spare parts—net			62,954				8,498				—				71,452
	Prepaid expenses			8,475				2,600				—				11,075
	Deferred income taxes			9,914				—				—				9,914
	Income taxes receivable			1,067				159				—				1,226

	Total current assets			372,108				169,992				(95,103	)			446,997
	Investment in subsidiaries			336,676				—				(336,676	)			—
	Property and equipment—net			680,419				236,923				—				917,342
	Restricted investments			15,485				—				—				15,485
	Other assets			14,891				204				—				15,095

	Total assets		$	1,419,579			$	407,119			$	(431,779	)		$	1,394,919

	LIABILITIES AND SHAREHOLDERS’ EQUITY
	Current Liabilities:
	Accounts payable		$	51,344			$	4,870			$	—			$	56,214
	Accrued and other current liabilities			21,233				8,852				—				30,085
	Intercompany payable			95,103				—				(95,103	)			—

	Total current liabilities			167,680				13,722				(95,103	)			86,299
	Long-term debt			539,640				—				—				539,640
	Deferred income taxes and other long-term liabilities			105,208				56,721				—				161,929
	Shareholders’ Equity:
	Common stock and paid-in capital			302,593				109,982				(109,982	)			302,593
	Accumulated other comprehensive loss			(102	)			—				—				(102	)
	Retained earnings			304,560				226,694				(226,694	)			304,560

	Total shareholders’ equity			607,051				336,676				(336,676	)			607,051

	Total liabilities and shareholders’ equity		$	1,419,579			$	407,119			$	(431,779	)		$	1,394,919



	-1	Foreign subsidiaries represent minor subsidiaries and are included in the guarantors subsidiaries’ amounts.



	PHI, INC. AND SUBSIDIARIES

	CONDENSED CONSOLIDATING BALANCE SHEETS

	(Thousands of dollars)



		December 31, 2014
		Parent				Guarantor				Eliminations				Consolidated
		Company				Subsidiaries (1)
		Only (issuer)
ASSETS
Current Assets:
Cash		$	51			$	6,219			$	—			$	6,270
Short-term investments			185,244				—				—				185,244
Accounts receivable—net			98,001				82,760				—				180,761
Intercompany receivable			—				95,399				(95,399	)			—
Inventories of spare parts—net			65,341				8,452				—				73,793
Prepaid expenses			7,610				1,704				—				9,314
Deferred income taxes			9,915				—				—				9,915
Income taxes receivable			1,068				159				—				1,227

Total current assets			367,230				194,693				(95,399	)			466,524
Investment in subsidiaries and others			358,080				—				(358,080	)			—
Property and equipment, net			638,437				239,381				—				877,818
Restricted investments			15,485				—				—				15,485
Other assets			16,055				198				—				16,253

Total assets		$	1,395,287			$	434,272			$	(453,479	)		$	1,376,080

LIABILITIES AND SHAREHOLDERS’ EQUITY
Current Liabilities:
Accounts payable		$	22,578			$	5,122			$	—			$	27,700
Accrued and other current liabilities			34,477				18,335				—				52,812
Intercompany payable			95,270				—				(95,270	)			—

Total current liabilities			152,325				23,457				(95,270	)			80,512
Long-term debt			543,000				—				—				543,000
Deferred income taxes and other long-term liabilities			102,894				52,606				—				155,500
Shareholders’ Equity:
Common stock and paid-in capital			303,082				137,647				(137,647	)			303,082
Accumulated other comprehensive loss			(211	)			—				—				(211	)
Retained earnings			294,197				220,562				(220,562	)			294,197

Total shareholders’ equity			597,068				358,209				(358,209	)			597,068

Total liabilities and shareholders’ equity		$	1,395,287			$	434,272			$	(453,479	)		$	1,376,080



-1	Foreign subsidiaries represent minor subsidiaries and are included in the guarantors subsidiaries’ amounts.
Condensed Consolidating Statements of Operations	PHI, INC. AND SUBSIDIARIES

	CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS

	(Thousands of dollars)

	(Unaudited)



			For the quarter ended March 31, 2015
			Parent				Guarantor				Eliminations				Consolidated
			Company				Subsidiaries (1)
			Only (issuer)
	Operating revenues, net		$	128,658			$	75,539			$	—			$	204,197
	Expenses:
	Direct expenses			106,481				62,730				(4	)			169,207
	Selling, general and administrative expenses			8,508				2,729				—				11,237

	Total operating expenses			114,989				65,459				(4	)			180,444
	Gain on disposal of assets, net			(7	)			—				—				(7	)
	Equity in loss of unconsolidated affiliate			68				—				—				68

	Operating income			13,608				10,080				4				23,692
	Equity in net income of consolidated subsidiaries			(6,131	)			—				6,131				—
	Interest expense			7,170				—				—				7,170
	Other income, net			(462	)			(4	)			4				(462	)

				577				(4	)			6,135				6,708

	Earnings before income taxes			13,031				10,084				(6,131	)			16,984
	Income tax expense			2,668				3,953				—				6,621

	Net earnings		$	10,363			$	6,131			$	(6,131	)		$	10,363


			For the quarter ended March 31, 2014
			Parent				Guarantor				Eliminations				Consolidated
			Company				Subsidiaries (1)
			Only (issuer)
	Operating revenues, net		$	124,354			$	72,717			$	—			$	197,071
	Expenses:
	Direct expenses			96,426				62,227				—				158,653
	Selling, general and administrative expenses			7,081				2,247				—				9,328
	Management fees			(2,909	)			2,909				—				—

	Total operating expenses			100,598				67,383				—				167,981
	Loss on disposal of assets, net			115				958				—				1,073
	Equity in loss of unconsolidated affiliate			41				—				—				41

	Operating income			23,600				4,376				—				27,976
	Equity in net income of consolidated subsidiaries			(2,735	)			—				2,735				—
	Interest expense			7,364				—				—				7,364
	Loss on debt extinguishment			29,216				—				—				29,216
	Other income, net			(91	)			—				—				(91	)

				33,754				—				2,735				36,489

	(Loss) earnings before income taxes			(10,154	)			4,376				(2,735	)			(8,513	)
	Income tax (benefit) expense			(4,833	)			1,641				—				(3,192	)

	Net (loss) earnings		$	(5,321	)		$	2,735			$	(2,735	)		$	(5,321	)



-1	Foreign subsidiaries represent minor subsidiaries and are included in the guarantors subsidiaries’ amounts.
Condensed Consolidated Statements of Comprehensive Income (Loss)	PHI, INC. AND SUBSIDIARIES

	CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

	(Thousands of dollars)

	(Unaudited)



			For the quarter ended March 31, 2015
			Parent				Guarantor				Eliminations				Consolidated
			Company				Subsidiaries (1)
			Only (issuer)
	Net earnings		$	10,363			$	6,131			$	(6,131	)		$	10,363
	Unrealized gain on short-term investments			139				—				—				139
	Other unrealized gain			24				—				—				24
	Tax effect of preceding gains, losses or changes			(55	)			—				—				(55	)

			$	10,471			$	6,131			$	(6,131	)		$	10,471


			For the quarter ended March 31, 2014
			Parent				Guarantor				Eliminations				Consolidated
			Company				Subsidiaries (1)
			Only (issuer)
	Net (loss) earnings		$	(5,321	)		$	2,735			$	(2,735	)		$	(5,321	)
	Unrealized gain on short-term investments			14				—				—				14
	Changes in pension plan assets and benefit obligations			(1	)			—				—				(1	)
	Tax effect of preceding gains, losses or changes			(5	)			—				—				(5	)

			$	(5,313	)		$	2,735			$	(2,735	)		$	(5,313	)



	-1	Foreign subsidiaries represent minor subsidiaries and are included in the guarantors subsidiaries’ amounts.
Condensed Consolidating Statements of Cash Flows	PHI, INC. AND SUBSIDIARIES

	CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

	(Thousands of dollars)

	(Unaudited)



			For the three months ended March 31, 2015
			Parent				Guarantor				Eliminations				Consolidated
			Company				Subsidiaries (1)
			Only (issuer)
	Net cash provided by operating activities		$	4,637			$	25,281			$	—			$	29,918
	Investing activities:
	Purchase of property and equipment			(22,115	)			—				—				(22,115	)
	Purchase of short-term investments			(190,243	)			—				—				(190,243	)
	Proceeds from sale of short-term investments			185,426				—				—				185,426
	Payments of deposits on aircraft			(66	)			—				—				(66	)

	Net cash used in investing activities			(26,998	)			—				—				(26,998	)

	Financing activities:
	Proceeds from line of credit			77,740				—				—				77,740
	Payments on line of credit			(81,100	)			—				—				(81,100	)
	Repurchase of common stock			(2,207	)											(2,207	)
	Due to/from affiliate, net			27,928				(27,928	)			—				—

	Net cash provided by (used in) financing activities			22,361				(27,928	)			—				(5,567	)

	Decrease in cash			—				(2,647	)			—				(2,647	)
	Cash, beginning of period			51				6,219				—				6,270

	Cash, end of period		$	51			$	3,572			$	—			$	3,623



	-1	Foreign subsidiaries represent minor subsidiaries and are included in the guarantors subsidiaries’ amounts.



	PHI, INC. AND SUBSIDIARIES

	CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

	(Thousands of dollars)

	(Unaudited)



			For the three months ended March 31, 2014
			Parent				Guarantor				Eliminations				Consolidated
			Company				Subsidiaries (1)(2)
			Only (issuer)
	Net cash provided by operating activities		$	(4,368	)		$	10,490			$	—			$	6,122
	Investing activities:
	Purchase of property and equipment			(38,746	)			—				—				(38,746	)
	Proceeds from asset dispositions			2,994				—				—				2,994
	Purchase of short-term investments			(140,551	)			—				—				(140,551	)
	Proceeds from sale of short-term investments			84,692				—				—				84,692
	Refund of deposits on aircraft			3,926				—				—				3,926
	Payments of deposits on aircraft			(6,499	)			—				—				(6,499	)

Net cash used in investing activities			(94,184	)			—				—				(94,184	)

Financing activities:
Proceeds from issuance of Senior Notes due 2019			500,000				—				—				500,000
Premium and costs to retire debt early			(26,132	)			—				—				(26,132	)
Repayment of Senior Notes due 2018			(292,571	)			—				—				(292,571	)
Debt issuance costs			(5,657	)			—				—				(5,657	)
Proceeds from line of credit			95,500				—				—				95,500
Payments on line of credit			(174,500	)			—				—				(174,500	)
Repurchase of common stock for payroll tax withholding requirements			(176	)			—				—				(176	)
Due to/from affiliate			9,415				(9,415	)			—				—

Net cash provided by financing activities			105,879				(9,415	)			—				96,464

Increase in cash			7,327				1,075				—				8,402
Cash, beginning of period			52				882				—				934

Cash, end of period		$	7,379			$	1,957			$	—			$	9,336



-1	Foreign subsidiaries represent minor subsidiaries and are included in the guarantors subsidiaries’ amounts.
-2	Cash flows between the Parent Company and Guarantor Subsidiaries related to the Company’s centralized cash management activities in 2014 have been adjusted to show the effects on net cash provided by operating and financing activities.

Investments_Components_of_Inve

Investments - Components of Investments (Detail) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Cost Basis	$207,548	$203,362
Unrealized Gains	30	21
Unrealized Losses	-138	-268
Fair Value	207,440	203,115
Investments [Member]
Schedule of Available-for-sale Securities [Line Items]
Cost Basis	205,073	200,976
Unrealized Gains	30	21
Unrealized Losses	-138	-268
Fair Value	204,965	200,729
Investments [Member] \| Money Market Mutual Funds [Member]
Schedule of Available-for-sale Securities [Line Items]
Cost Basis	18,055	68,612
Fair Value	18,055	68,612
Investments [Member] \| Municipal bonds and notes [Member]
Schedule of Available-for-sale Securities [Line Items]
Cost Basis	1,500	1,500
Unrealized Gains	1	2
Fair Value	1,501	1,502
Investments [Member] \| Corporate bonds and notes [Member]
Schedule of Available-for-sale Securities [Line Items]
Cost Basis	177,511	130,864
Unrealized Gains	23	19
Unrealized Losses	-137	-268
Fair Value	177,397	130,615
Investments [Member] \| US Government Agencies [Member]
Schedule of Available-for-sale Securities [Line Items]
Cost Basis	8,007
Unrealized Gains	6
Unrealized Losses	-1
Fair Value	8,012
Deferred Compensation Plan Assets [Member]
Schedule of Available-for-sale Securities [Line Items]
Cost Basis	2,475	2,386
Fair Value	$2,475	$2,386

Investments_Additional_Informa

Investments - Additional Information (Detail) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Investments, Debt and Equity Securities [Abstract]
Restricted investments	$15,485	$15,485

Investments_Cost_and_Fair_Valu

Investments - Cost and Fair Value of Debt Investments Based on Maturities (Detail) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Available-for-sale Securities, Debt Maturities [Abstract]
Due in one year or less, Amortized Costs	$95,682	$70,180
Due within two years, Amortized Costs	91,336	62,184
Total, Amortized Costs	187,018	132,364
Due in one year or less, Fair Value	95,667	70,169
Due within two years, Fair Value	91,243	61,948
Total, Fair Value	$186,910	$132,117

Investments_Average_Coupon_Rat

Investments - Average Coupon Rate Percentage and the Average Days to Maturity of Debt (Detail)	3 Months Ended	12 Months Ended
	Mar. 31, 2015	Dec. 31, 2014
US Government Agencies [Member]
Schedule of Available-for-sale Securities [Line Items]
Average Coupon Rate	0.53%	0.00%
Average Days To Maturity	44 days	0 days
Municipal bonds and notes [Member]
Schedule of Available-for-sale Securities [Line Items]
Average Coupon Rate	0.87%	0.53%
Average Days To Maturity	700 days	134 days
Corporate bonds and notes [Member]
Schedule of Available-for-sale Securities [Line Items]
Average Coupon Rate	1.81%	1.83%
Average Days To Maturity	350 days	348 days

Investments_Investments_in_Con

Investments - Investments in Continuous Unrealized Loss Position for Less Than Twelve Months (Detail) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Fair Value	$132,230	$30,332
Unrealized Losses	-137	-30
US Government Agencies [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair Value	1,999
Unrealized Losses	-1
Corporate bonds and notes [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair Value	130,231	30,332
Unrealized Losses	($136)	($30)

Investments_Investments_in_Con1

Investments - Investments in Continuous Unrealized Loss Position for More Than Twelve Months (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015
Schedule of Available-for-sale Securities [Line Items]
Fair Value	$1,503
Unrealized Losses	-1
Corporate bonds and notes [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair Value	1,503
Unrealized Losses	($1)

Revenue_Recognition_and_Valuat2

Revenue Recognition and Valuation Accounts - Additional Information (Detail) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Valuation and Qualifying Accounts [Abstract]
Allowance for doubtful accounts	$1.40		$1.40
Allowance for contractual discounts	98.3		96.6
Allowance for uncompensated care	36.3		41.9
Value of uncompensated care to patients	2.7	2.4
Estimated cost of charity services	0.6	0.6
Contractual period of services	3 years
Contract termination period	90 days
Termination fee	13.5
Inventory valuation reserves	$13.70		$13.50

Revenue_Recognition_and_Valuat3

Revenue Recognition and Valuation Accounts - Schedule of Allowance for Contractual Discounts and Estimated Uncompensated Care as a Percentage of Gross Segment Accounts Receivable (Detail)	3 Months Ended	12 Months Ended
	Mar. 31, 2015	Dec. 31, 2014
Revenue Recognition And Valuation Accounts [Abstract]
Allowance for Contractual Discounts	57.00%	53.00%
Allowance for Uncompensated Care	21.00%	23.00%

Fair_Value_Measurements_Summar

Fair Value Measurements - Summary of Valuation of Investments and Financial Instruments Pricing Levels (Detail) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	$207,440	$203,115
Investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	204,965	200,729
Investments [Member] \| Money Market Mutual Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	18,055	68,612
Investments [Member] \| Municipal bonds and notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	1,501	1,502
Investments [Member] \| Corporate bonds and notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	177,397	130,615
Investments [Member] \| US Government Agencies [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	8,012
Deferred Compensation Plan Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	2,475	2,386
(Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	20,530	70,998
(Level 1) [Member] \| Investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	18,055	68,612
(Level 1) [Member] \| Investments [Member] \| Money Market Mutual Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	18,055	68,612
(Level 1) [Member] \| Deferred Compensation Plan Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	2,475	2,386
(Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	186,910	132,117
(Level 2) [Member] \| Investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	186,910	132,117
(Level 2) [Member] \| Investments [Member] \| Municipal bonds and notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	1,501	1,502
(Level 2) [Member] \| Investments [Member] \| Corporate bonds and notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	177,397	130,615
(Level 2) [Member] \| Investments [Member] \| US Government Agencies [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	$8,012

Fair_Value_Measurements_Additi

Fair Value Measurements - Additional Information (Detail) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Fair Value Measurements Disclosure [Line Items]
The fair value investments reclassification of assets between level 1 and level 2	$0	$0
The fair value of Senior Notes, based on quoted market prices	464,700,000	425,600,000
Fair Value, Inputs, Level 3 [Member]
Fair Value Measurements Disclosure [Line Items]
Level 3 investments	$0	$0

Long_Term_Debt_Components_of_L

Long Term Debt - Components of Long-term Debt (Detail) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Long-term debt	$539,640	$543,000
5.25% Senior Notes due March 15, 2019 [Member]
Debt Instrument [Line Items]
Long-term debt	500,000	500,000
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Long-term debt	$39,640	$43,000

Long_Term_Debt_Components_of_L1

Long Term Debt - Components of Long-term Debt (Parenthetical) (Detail)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Debt Instrument [Line Items]
Interest rate on Senior Notes	5.25%
5.25% Senior Notes due March 15, 2019 [Member]
Debt Instrument [Line Items]
Interest rate on Senior Notes	5.25%	5.25%
Senior Notes payable periods	15-Mar-19

Long_Term_Debt_Additional_Info

Long Term Debt - Additional Information (Detail) (USD $)	3 Months Ended		0 Months Ended	3 Months Ended
Long Term Debt - Additional Information (Detail) (USD $)	Mar. 31, 2015	Mar. 31, 2014	Apr. 16, 2014	Jun. 30, 2014	Dec. 31, 2014	Sep. 18, 2013
Debt Instrument [Line Items]
Senior notes, amount issued	$500,000,000
Interest rate on Senior Notes	5.25%
Proceeds from issuance of senior notes		500,000,000
Repayment of Senior Notes		292,571,000
Total long-term debt	539,640,000				543,000,000
Pretax charge related to early redemption of senior notes		-29,216,000
Letters of credit outstanding under the facility	15,500,000				15,500,000
Periodic payment of debt interest	13,500,000	11,300,000
Accrued interest expense paid	13,453,000	11,280,000
5.25% Senior Notes due March 15, 2019 [Member]
Debt Instrument [Line Items]
Senior notes, amount issued		500,000,000
Interest rate on Senior Notes	5.25%	5.25%
5.25% Senior notes payable periods		2019-03
Proceeds from issuance of senior notes		494,000,000
Total long-term debt	500,000,000				500,000,000
5.25% Senior Notes payable periods	15-Mar-19
Debt instrument interest rate term	Interest is payable semi-annually on March 15 and September 15 of each year, beginning September 15, 2014.
Percentage of principal amount redeemed	101.00%
Debt instrument restrictive covenants	The indenture governing the 2019 Notes (the "2019 Indenture") contains, among other things, certain restrictive covenants, including limitations on incurring indebtedness, creating liens, selling assets and entering into certain transactions with affiliates. The covenants also limit PHI's ability to, among other things, pay cash dividends on common stock, repurchase or redeem common or preferred equity, prepay subordinated debt and make certain investments.
8.625% Senior Notes [Member]
Debt Instrument [Line Items]
Interest rate on Senior Notes		8.63%
Repayment of Senior Notes		292,600,000
Total long-term debt		300,000,000
Cost of debt repayment		329,400,000
Senior notes redemption date		17-Mar-14	16-Apr-14
Amount of senior notes redeemed			7,400,000
Senior notes, redemption price, percentage			108.30%
Pretax charge related to early redemption of senior notes		29,200,000		600,000
Premium on early redemption of senior notes		26,100,000
Write off of unamortized financing costs		3,100,000
Tax benefit related to redemption	11,600,000
Accrued interest expense paid	10,700,000
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Total long-term debt	39,640,000				43,000,000
Increased Borrowing capacity						150,000,000
Revolving credit facility, maturity date	1-Oct-16
Revolving Credit facility, Covenants, consolidated working capital ratio	200.00%
Revolving Credit facility, Covenants, consolidated net worth ratio	150.00%
Revolving Credit facility, Covenants, fixed coverage ratio	110.00%
Revolving Credit facility, Covenants, consolidated net worth	$450,000,000
Revolving Credit Facility [Member] \| LIBOR [Member]
Debt Instrument [Line Items]
LIBOR plus interest rate on borrowed funds	225.00%

Earnings_Per_Share_Components_

Earnings Per Share - Components of Basic and Diluted Earnings Per Share (Detail)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Weighted Average Number of Shares Outstanding Reconciliation [Abstract]
Weighted average outstanding shares of common stock, basic	15,579	15,480
Dilutive effect of restricted stock units	83
Weighted average outstanding shares of common stock, diluted	15,662	15,480

StockBased_Compensation_Summar

Stock-Based Compensation - Summary of Share Based Compensation Expense (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Stock-based compensation expense:
Total stock-based compensation expense	$1,719	$688
Time-based Restricted Stock Units [Member]
Stock-based compensation expense:
Total stock-based compensation expense	637	127
Performance-based Restricted Stock Units [Member]
Stock-based compensation expense:
Total stock-based compensation expense	$1,082	$561

StockBased_Compensation_Additi

Stock-Based Compensation - Additional Information (Detail)	3 Months Ended
Stock-Based Compensation - Additional Information (Detail)	Mar. 31, 2015	Mar. 31, 2014
Time-based Restricted Stock Units [Member]
Stock Based Compensation [Line Items]
Restricted stock units awarded to managers	18,930	20,364
Performance-based Restricted Stock Units [Member]
Stock Based Compensation [Line Items]
Restricted stock units awarded to managers	151,566

Asset_Disposals_and_Impairment1

Asset Disposals and Impairments - Additional Information (Detail) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Assets Held For Sale And Impairments [Line Items]
Cash realized from sale of assets	$0	$3,000,000
Loss on disposal of assets	$0	($1,100,000)
Air Medical [Member] \| Light Aircraft [Member]
Assets Held For Sale And Impairments [Line Items]
Number of aircraft sold		2
Oil and Gas [Member] \| Fixed Wing Aircraft [Member]
Assets Held For Sale And Impairments [Line Items]
Number of aircraft sold		2

Commitments_and_Contingencies_

Commitments and Contingencies - Additional Information (Detail) (USD $)	3 Months Ended	1 Months Ended	0 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Jan. 02, 2015
	Land_Parcel	Aircraft	Aircraft
Long-term Purchase Commitment [Line Items]
Total aircraft deposits	$7.40
Aggregate estimated probable liability environmental matters	0.2
Number of parcels of land exists	2
Aggregate commitments under operating leases	305.6
Operational lease payable	38.3
Lease commitment for aircraft	290.8
Facility lease commitments	14.8
2016 [Member]
Long-term Purchase Commitment [Line Items]
Aggregate purchase price for aircraft	67.8
2017 [Member]
Long-term Purchase Commitment [Line Items]
Aggregate purchase price for aircraft	55.7
2018 [Member]
Long-term Purchase Commitment [Line Items]
Aggregate purchase price for aircraft	127
2019 [Member]
Long-term Purchase Commitment [Line Items]
Aggregate purchase price for aircraft	150.4
Heavy Helicopters [Member]
Long-term Purchase Commitment [Line Items]
Number of aircraft purchased		6
Number of aircrafts delivered	1
Heavy Aircraft [Member]
Long-term Purchase Commitment [Line Items]
Number of aircraft purchased			1
Aggregate purchase price for aircraft			$17.70

Segment_Information_Additional

Segment Information - Additional Information (Detail)	3 Months Ended
Segment Information - Additional Information (Detail)	Mar. 31, 2015	Mar. 31, 2014
Segment Reporting Information [Line Items]
Number of aircraft operated	91
Number of contracts	0
Fixed revenue streams	0
Hospitals Contracts [Member]
Segment Reporting Information [Line Items]
Segment revenue	42.00%	42.00%
Oil and Gas [Member]
Segment Reporting Information [Line Items]
Number of aircraft operated	168
Segment revenue	59.00%	64.00%
Oil and Gas [Member] \| Minimum [Member] \| Major Customer [Member]
Segment Reporting Information [Line Items]
Working period with major customers	30 years
Oil and Gas [Member] \| Minimum [Member] \| ENI Petroleum [Member]
Segment Reporting Information [Line Items]
Working period with major customers	15 years
Air Medical [Member]
Segment Reporting Information [Line Items]
Segment revenue	35.00%	34.00%
Number of aircraft assigned	100
Number of states in which company operates aircrafts	18
Locations in which company operates Aircrafts	70
Air Medical [Member] \| Middle East [Member]
Segment Reporting Information [Line Items]
Number of aircraft operated	9
Locations in which company operates Aircrafts	5
Number of revenue generating aircrafts	8
Technical Services [Member]
Segment Reporting Information [Line Items]
Segment revenue	6.00%	2.00%

Segment_Information_Schedule_o

Segment Information - Schedule of Provisions for Contractual Discounts and Estimated Uncompensated Care as a Percentage of Total Segment Billings (Detail) (Air Medical [Member], Sales Revenue, Net [Member])	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Air Medical [Member] \| Sales Revenue, Net [Member]
Provisions For Contractual Discounts And Estimated Uncompensated Care [Line Items]
Gross Air Medical segment billings	100.00%	100.00%
Provision for contractual discounts	74.00%	69.00%
Provision for uncompensated care	0.00%	3.00%

Segment_Information_Schedule_o1

Segment Information - Schedule of Net Revenue Attributable to Medicaid, Medicare, Insurance, and Self-Pay as a Percentage of Net Air Medical Revenues (Detail) (Air Medical [Member])	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Insurance [Member]
Segment Reporting Information [Line Items]
Percentage of net Air Medical revenues	75.00%	70.00%
Medicare [Member]
Segment Reporting Information [Line Items]
Percentage of net Air Medical revenues	17.00%	20.00%
Medicaid [Member]
Segment Reporting Information [Line Items]
Percentage of net Air Medical revenues	8.00%	8.00%
Self Pay [Member]
Segment Reporting Information [Line Items]
Percentage of net Air Medical revenues	0.00%	2.00%

Segment_Information_Schedule_o2

Segment Information - Schedule of Financial Information Concerning Reportable Operating Segments (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015		Mar. 31, 2014
Segment Reporting Information [Line Items]
Total operating revenues	$204,197		$197,071
Total segment selling, general and administrative expenses	11,237		9,328
Total net segment profit	23,692		27,976
Interest expense	-7,170		-7,364
Loss on debt extinguishment			-29,216
Earnings (loss) before income taxes	16,984		-8,513
Reportable Operating Segments [Member]
Segment Reporting Information [Line Items]
Total operating revenues	204,197		197,071
Total segment direct expenses	169,275	[1]	158,694	[1]
Total segment selling, general and administrative expenses	3,902		3,189
Total direct and selling, general and administrative expenses	173,177		161,883
Total net segment profit	31,020		35,188
Reportable Operating Segments [Member] \| Oil and Gas [Member]
Segment Reporting Information [Line Items]
Total operating revenues	120,396		125,975
Total segment direct expenses	100,331	[1],[2]	97,374	[1],[2]
Total segment selling, general and administrative expenses	1,159		1,034
Total net segment profit	18,906		27,567
Reportable Operating Segments [Member] \| Air Medical [Member]
Segment Reporting Information [Line Items]
Total operating revenues	72,385		67,952
Total segment direct expenses	60,039	[1]	59,379	[1]
Total segment selling, general and administrative expenses	2,629		2,153
Total net segment profit	9,717		6,420
Reportable Operating Segments [Member] \| Technical Services [Member]
Segment Reporting Information [Line Items]
Total operating revenues	11,416		3,144
Total segment direct expenses	8,905	[1]	1,941	[1]
Total segment selling, general and administrative expenses	114		2
Total net segment profit	2,397		1,201
Other, net [Member]
Segment Reporting Information [Line Items]
Other, net	469	[3]	-982	[3]
Unallocated Selling, General and Administrative Expenses [Member]
Segment Reporting Information [Line Items]
Unallocated selling, general and administrative costs	($7,335)	[1]	($6,139)	[1]

[1]	Included in segment direct expenses and unallocated selling, general, and administrative costs are the depreciation and amortization expense amounts below:
[2]	Includes Equity in loss of unconsolidated affiliate.
[3]	Consists of gains on disposition of property and equipment, and other income.

Segment_Information_Depreciati

Segment Information - Depreciation and Amortization Expense Included in Direct Expenses and Unallocated Selling, General, and Administrative Costs (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Reportable Operating Segments [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Depreciation and Amortization Expenses	$15,505	$10,016
Reportable Operating Segments [Member] \| Oil and Gas [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Depreciation and Amortization Expenses	11,280	6,853
Reportable Operating Segments [Member] \| Air Medical [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Depreciation and Amortization Expenses	4,097	3,076
Reportable Operating Segments [Member] \| Technical Services [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Depreciation and Amortization Expenses	128	87
Unallocated Selling, General and Administrative Expenses [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Depreciation and Amortization Expenses	$2,646	$1,347

Investment_in_Variable_Interes1

Investment in Variable Interest Entity - Additional Information (Detail) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Variable Interest Entity [Line Items]
Earnings (loss) in equity of unconsolidated affiliate	($100,000)	($100,000)
Trade receivables	2,800,000		2,800,000
Accrued and other current liabilities	30,085,000		52,812,000
Other assets	0		0
PHIC's date of incorporation	26-May-11
PHI Century Limited [Member]
Variable Interest Entity [Line Items]
Investment in the common stock	49.00%
Accrued and other current liabilities	$1,000,000		$900,000

Condensed_Consolidating_Financ2

Condensed Consolidating Financial Information - Additional Information (Detail) (USD $)	Mar. 31, 2015
Guarantor Information [Abstract]
Senior notes, amount issued	$500,000,000
Interest rate on Senior Notes	5.25%
Ownership percentage in domestic subsidiaries	100.00%

Condensed_Consolidating_Financ3

Condensed Consolidating Financial Information - Condensed Consolidating Balance Sheets (Detail) (USD $)	Mar. 31, 2015		Dec. 31, 2014		Mar. 31, 2014		Dec. 31, 2013
In Thousands, unless otherwise specified	Mar. 31, 2015		Dec. 31, 2014		Mar. 31, 2014		Dec. 31, 2013
Current Assets:
Cash	$3,623		$6,270		$9,336		$934
Short-term investments	189,480		185,244
Accounts receivable - net	160,227		180,761
Inventories of spare parts - net	71,452		73,793
Prepaid expenses	11,075		9,314
Deferred income taxes	9,914		9,915
Income taxes receivable	1,226		1,227
Total current assets	446,997		466,524
Property and equipment - net	917,342		877,818
Restricted investments	15,485		15,485
Other assets	15,095		16,253
Total assets	1,394,919		1,376,080
Current Liabilities:
Accounts payable	56,214		27,700
Accrued and other current liabilities	30,085		52,812
Total current liabilities	86,299		80,512
Long-term debt	539,640		543,000
Deferred income taxes and other long-term liabilities	161,929		155,500
Shareholders' Equity:
Common stock and paid-in capital	302,593		303,082
Accumulated other comprehensive loss	-102		-211
Retained earnings	304,560		294,197
Total shareholders' equity	607,051		597,068		555,165		559,965
Total liabilities and shareholders' equity	1,394,919		1,376,080
Parent Company Only (issuer) [Member]
Current Assets:
Cash	51		51		7,379		52
Short-term investments	189,480		185,244
Accounts receivable - net	100,167		98,001
Inventories of spare parts - net	62,954		65,341
Prepaid expenses	8,475		7,610
Deferred income taxes	9,914		9,915
Income taxes receivable	1,067		1,068
Total current assets	372,108		367,230
Investment in subsidiaries	336,676		358,080
Property and equipment - net	680,419		638,437
Restricted investments	15,485		15,485
Other assets	14,891		16,055
Total assets	1,419,579		1,395,287
Current Liabilities:
Accounts payable	51,344		22,578
Accrued and other current liabilities	21,233		34,477
Intercompany payable	95,103		95,270
Total current liabilities	167,680		152,325
Long-term debt	539,640		543,000
Deferred income taxes and other long-term liabilities	105,208		102,894
Shareholders' Equity:
Common stock and paid-in capital	302,593		303,082
Accumulated other comprehensive loss	-102		-211
Retained earnings	304,560		294,197
Total shareholders' equity	607,051		597,068
Total liabilities and shareholders' equity	1,419,579		1,395,287
Guarantor Subsidiaries [Member]
Current Assets:
Cash	3,572	[1]	6,219	[1]	1,957	[1],[2]	882	[1],[2]
Accounts receivable - net	60,060	[1]	82,760	[1]
Intercompany receivable	95,103	[1]	95,399	[1]
Inventories of spare parts - net	8,498	[1]	8,452	[1]
Prepaid expenses	2,600	[1]	1,704	[1]
Income taxes receivable	159	[1]	159	[1]
Total current assets	169,992	[1]	194,693	[1]
Property and equipment - net	236,923	[1]	239,381	[1]
Other assets	204	[1]	198	[1]
Total assets	407,119	[1]	434,272	[1]
Current Liabilities:
Accounts payable	4,870	[1]	5,122	[1]
Accrued and other current liabilities	8,852	[1]	18,335	[1]
Total current liabilities	13,722	[1]	23,457	[1]
Deferred income taxes and other long-term liabilities	56,721	[1]	52,606	[1]
Shareholders' Equity:
Common stock and paid-in capital	109,982	[1]	137,647	[1]
Retained earnings	226,694	[1]	220,562	[1]
Total shareholders' equity	336,676	[1]	358,209	[1]
Total liabilities and shareholders' equity	407,119	[1]	434,272	[1]
Eliminations [Member]
Current Assets:
Intercompany receivable	-95,103		-95,399
Total current assets	-95,103		-95,399
Investment in subsidiaries	-336,676		-358,080
Total assets	-431,779		-453,479
Current Liabilities:
Intercompany payable	-95,103		-95,270
Total current liabilities	-95,103		-95,270
Shareholders' Equity:
Common stock and paid-in capital	-109,982		-137,647
Retained earnings	-226,694		-220,562
Total shareholders' equity	-336,676		-358,209
Total liabilities and shareholders' equity	($431,779)		($453,479)

[1]	Foreign subsidiaries represent minor subsidiaries and are included in the guarantors subsidiaries' amounts.
[2]	Cash flows between the Parent Company and Guarantor Subsidiaries related to the Company's centralized cash management activities in 2014 have been adjusted to show the effects on net cash provided by operating and financing activities.

Condensed_Consolidating_Financ4

Condensed Consolidating Financial Information - Condensed Consolidating Statements of Operations (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015		Mar. 31, 2014
Condensed Income Statements, Captions [Line Items]
Operating revenues, net	$204,197		$197,071
Expenses:
Direct expenses	169,207		158,653
Selling, general and administrative expenses	11,237		9,328
Total operating expenses	180,444		167,981
Gain on disposal of assets, net	-7		1,073
Equity in loss of unconsolidated affiliate	68		41
Operating income	23,692		27,976
Interest expense	7,170		7,364
Loss on debt extinguishment			29,216
Other income, net	-462		-91
Total expenses	6,708		36,489
Earnings (loss) before income taxes	16,984		-8,513
Income tax expense (benefit)	6,621		-3,192
Net earnings (loss)	10,363		-5,321
Parent Company Only (issuer) [Member]
Condensed Income Statements, Captions [Line Items]
Operating revenues, net	128,658		124,354
Expenses:
Direct expenses	106,481		96,426
Selling, general and administrative expenses	8,508		7,081
Management fees			-2,909
Total operating expenses	114,989		100,598
Gain on disposal of assets, net	-7		115
Equity in loss of unconsolidated affiliate	68		41
Operating income	13,608		23,600
Equity in net income of consolidated subsidiaries	-6,131		-2,735
Interest expense	7,170		7,364
Loss on debt extinguishment			29,216
Other income, net	-462		-91
Total expenses	577		33,754
Earnings (loss) before income taxes	13,031		-10,154
Income tax expense (benefit)	2,668		-4,833
Net earnings (loss)	10,363		-5,321
Guarantor Subsidiaries [Member]
Condensed Income Statements, Captions [Line Items]
Operating revenues, net	75,539	[1]	72,717	[1]
Expenses:
Direct expenses	62,730	[1]	62,227	[1]
Selling, general and administrative expenses	2,729	[1]	2,247	[1]
Management fees			2,909	[1]
Total operating expenses	65,459	[1]	67,383	[1]
Gain on disposal of assets, net			958	[1]
Operating income	10,080	[1]	4,376	[1]
Other income, net	-4	[1]
Total expenses	-4	[1]
Earnings (loss) before income taxes	10,084	[1]	4,376	[1]
Income tax expense (benefit)	3,953	[1]	1,641	[1]
Net earnings (loss)	6,131	[1]	2,735	[1]
Eliminations [Member]
Expenses:
Direct expenses	-4
Total operating expenses	-4
Operating income	4
Equity in net income of consolidated subsidiaries	6,131		2,735
Other income, net	4
Total expenses	6,135		2,735
Earnings (loss) before income taxes	-6,131		-2,735
Net earnings (loss)	($6,131)		($2,735)

[1]	Foreign subsidiaries represent minor subsidiaries and are included in the guarantors subsidiaries' amounts.

Condensed_Consolidating_Financ5

Condensed Consolidating Financial Information - Condensed Consolidating Statements of Comprehensive Income (Loss) (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015		Mar. 31, 2014
Condensed Financial Statements, Captions [Line Items]
Net earning (loss)	$10,363		($5,321)
Unrealized gain on short-term investments	139		14
Other unrealized gain	24
Changes in pension plan assets and benefit obligations			-1
Tax effect of preceding gains, losses or changes	-55		-5
Total comprehensive income	10,471		-5,313
Parent Company Only (issuer) [Member]
Condensed Financial Statements, Captions [Line Items]
Net earning (loss)	10,363		-5,321
Unrealized gain on short-term investments	139		14
Other unrealized gain	24
Changes in pension plan assets and benefit obligations			-1
Tax effect of preceding gains, losses or changes	-55		-5
Total comprehensive income	10,471		-5,313
Guarantor Subsidiaries [Member]
Condensed Financial Statements, Captions [Line Items]
Net earning (loss)	6,131	[1]	2,735	[1]
Total comprehensive income	6,131	[1]	2,735	[1]
Eliminations [Member]
Condensed Financial Statements, Captions [Line Items]
Net earning (loss)	-6,131		-2,735
Total comprehensive income	($6,131)		($2,735)

[1]	Foreign subsidiaries represent minor subsidiaries and are included in the guarantors subsidiaries' amounts.

Condensed_Consolidating_Financ6

Condensed Consolidating Financial Information - Condensed Consolidating Statements of Cash Flows (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015		Mar. 31, 2014
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by operating activities	$29,918		$6,122
Investing activities:
Purchase of property and equipment	-22,115		-38,746
Proceeds from asset dispositions			2,994
Purchase of short-term investments	-190,243		-140,551
Proceeds from sale of short-term investments	185,426		84,692
Refund of deposits on aircraft			3,926
Payments of deposits on aircraft	-66		-6,499
Net cash used in investing activities	-26,998		-94,184
Financing activities:
Proceeds from issuance of Senior Notes due 2019			500,000
Premium and costs to retire debt early			-26,132
Repayment of Senior Notes due 2018			-292,571
Debt issuance costs			-5,657
Proceeds from line of credit	77,740		95,500
Payments on line of credit	-81,100		-174,500
Repurchase of common stock	-2,207		-176
Net cash (used in) provided by financing activities	-5,567		96,464
Increase (decrease) in cash	-2,647		8,402
Cash, beginning of period	6,270		934
Cash, end of period	3,623		9,336
Parent Company Only (issuer) [Member]
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by operating activities	4,637		-4,368
Investing activities:
Purchase of property and equipment	-22,115		-38,746
Proceeds from asset dispositions			2,994
Purchase of short-term investments	-190,243		-140,551
Proceeds from sale of short-term investments	185,426		84,692
Refund of deposits on aircraft			3,926
Payments of deposits on aircraft	-66		-6,499
Net cash used in investing activities	-26,998		-94,184
Financing activities:
Proceeds from issuance of Senior Notes due 2019			500,000
Premium and costs to retire debt early			-26,132
Repayment of Senior Notes due 2018			-292,571
Debt issuance costs			-5,657
Proceeds from line of credit	77,740		95,500
Payments on line of credit	-81,100		-174,500
Repurchase of common stock	-2,207		-176
Due to/from affiliate	27,928		9,415
Net cash (used in) provided by financing activities	22,361		105,879
Increase (decrease) in cash			7,327
Cash, beginning of period	51		52
Cash, end of period	51		7,379
Guarantor Subsidiaries [Member]
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided by operating activities	25,281	[1]	10,490	[1],[2]
Financing activities:
Due to/from affiliate	-27,928	[1]	-9,415	[1],[2]
Net cash (used in) provided by financing activities	-27,928	[1]	-9,415	[1],[2]
Increase (decrease) in cash	-2,647	[1]	1,075	[1],[2]
Cash, beginning of period	6,219	[1]	882	[1],[2]
Cash, end of period	$3,572	[1]	$1,957	[1],[2]

[1]	Foreign subsidiaries represent minor subsidiaries and are included in the guarantors subsidiaries' amounts.
[2]	Cash flows between the Parent Company and Guarantor Subsidiaries related to the Company's centralized cash management activities in 2014 have been adjusted to show the effects on net cash provided by operating and financing activities.