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Condensed Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
REVENUE    
Other sales and revenue   $ 4,659
Interest revenue $ 2,269 2,046
Gain (loss) on sale of leased equipment 9,201 (133)
Total revenue 119,083 89,535
EXPENSES    
Depreciation and amortization expense 22,486 22,549
Cost of spare parts and equipment sales 2,705 4,499
Cost of maintenance services 5,574 3,927
Write-down of equipment 261 0
General and administrative 29,581 27,831
Technical expense 8,255 4,342
Net finance costs:    
Interest expense 23,003 18,389
Total net finance costs 23,003 18,389
Total expenses 91,865 81,537
Income from operations 27,218 7,998
Income (loss) from joint ventures 2,674 (1,161)
Income before income taxes 29,892 6,837
Income tax expense 9,023 2,443
Net income 20,869 4,394
Preferred stock dividends 900 801
Accretion of preferred stock issuance costs 12 21
Net income attributable to common shareholders $ 19,957 $ 3,572
Basic weighted average income per common share (in dollars per share) $ 3.12 $ 0.58
Diluted weighted average income per common share (in dollars per share) $ 3.00 $ 0.55
Basic weighted average common shares outstanding (in shares) 6,387 6,123
Diluted weighted average common shares outstanding (in shares) 6,659 6,456
Lease rent revenue    
REVENUE    
Lease rent and maintenance reserve revenue $ 52,881 $ 53,220
Maintenance reserve revenue    
REVENUE    
Lease rent and maintenance reserve revenue 43,870 23,498
Spare parts and equipment sales    
REVENUE    
Other sales and revenue 3,288 5,052
Other revenue    
REVENUE    
Other sales and revenue 2,347 1,193
Maintenance Services    
REVENUE    
Other sales and revenue $ 5,227 $ 4,659