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Condensed Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
REVENUE    
Interest revenue $ 2,046 $ 2,114
(Loss) Gain on sale of leased equipment (133) 2,298
Total revenue 89,535 68,817
EXPENSES    
Depreciation and amortization expense 22,549 21,809
Cost of spare parts and equipment sales 4,499 4,862
Write-down of equipment 0 21,117
General and administrative 33,271 23,605
Technical expense 2,829 5,646
Net finance costs:    
Interest expense 18,389 16,883
Total net finance costs 18,389 16,883
Total expenses 81,537 93,922
Income (Loss) from operations 7,998 (25,105)
Loss from joint ventures (1,161) (2,616)
Income (Loss) before income taxes 6,837 (27,721)
Income tax expense (benefit) 2,443 (6,520)
Net income (loss) 4,394 (21,201)
Preferred stock dividends 801 801
Accretion of preferred stock issuance costs 21 21
Net income (loss) attributable to common shareholders $ 3,572 $ (22,023)
Basic weighted average income (loss) per common share (in dollars per share) $ 0.58 $ (3.70)
Diluted weighted average income (loss) per common share (in dollars per share) $ 0.55 $ (3.70)
Basic weighted average common shares outstanding (in shares) 6,123 5,951
Diluted weighted average common shares outstanding (in shares) 6,456 5,951
Lease rent revenue    
REVENUE    
Lease rent and maintenance reserve revenue $ 53,220 $ 38,125
Maintenance reserve revenue    
REVENUE    
Lease rent and maintenance reserve revenue 23,498 14,834
Spare parts and equipment sales    
REVENUE    
Other sales and revenue 5,052 6,630
Other revenue    
REVENUE    
Other sales and revenue $ 5,852 $ 4,816