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Consolidated Statements of Income (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
REVENUE        
Lease rent revenue $ 24,750 $ 23,810 $ 49,237 $ 47,895
Maintenance reserve revenue 11,788 9,437 21,017 18,015
Gain on sale of leased equipment 848 1,388 1,534 3,996
Other revenue 567 518 1,469 986
Total revenue 37,953 35,153 73,257 70,892
EXPENSES        
Depreciation expense 14,191 12,490 27,801 24,996
Write-down of equipment 1,985   1,985 282
General and administrative 9,204 9,304 17,473 18,041
Technical expense 4,216 1,435 5,890 2,754
Net finance costs:        
Interest expense 9,852 7,119 19,079 15,066
Interest income   (30)   (60)
Total net finance costs 9,852 7,089 19,079 15,006
Total expenses 39,448 30,318 72,228 61,079
Earnings (loss) from operations (1,495) 4,835 1,029 9,813
Earnings from joint ventures 3,382 199 3,475 596
Income before income taxes 1,887 5,034 4,504 10,409
Income tax benefit (expense) 7,805 (1,805) 6,798 (3,891)
Net income 9,692 3,229 11,302 6,518
Preferred stock dividends   782   1,564
Net income attributable to common shareholders $ 9,692 $ 2,447 $ 11,302 $ 4,954
Basic earnings per common share: (in dollars per share) $ 1.20 $ 0.29 $ 1.40 $ 0.58
Diluted earnings per common share: (in dollars per share) $ 1.17 $ 0.28 $ 1.36 $ 0.56
Average common shares outstanding (in shares) 8,106 8,585 8,073 8,495
Diluted average common shares outstanding (in shares) 8,303 8,848 8,307 8,804