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Condensed Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
REVENUE    
Lease rent revenue $ 48,369 $ 39,644
Maintenance reserve revenue 25,350 15,440
Spare parts and equipment sales 17,502 12,986
Gain on sale of leased equipment 9,570 545
Other revenue 2,978 1,882
Total revenue 103,769 70,497
EXPENSES    
Depreciation and amortization expense 20,258 17,355
Cost of spare parts and equipment sales 14,412 11,388
Write-down of equipment 1,105 0
General and administrative 21,440 15,611
Technical expense 1,788 3,677
Interest expense 17,879 13,595
Total expenses 76,882 61,626
Earnings from operations 26,887 8,871
Earnings from joint ventures 946 747
Income before income taxes 27,833 9,618
Income tax expense 6,955 2,536
Net income 20,878 7,082
Preferred stock dividends 801 801
Accretion of preferred stock issuance costs 21 20
Net income attributable to common shareholders $ 20,056 $ 6,261
Basic weighted average earnings per common share (in dollars per share) $ 3.47 $ 1.03
Diluted weighted average earnings per common share (in dollars per share) $ 3.35 $ 1.00
Basic weighted average common shares outstanding (in shares) 5,779 6,104
Diluted weighted average common shares outstanding (in shares) 5,978 6,256