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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 12 Months Ended
Dec. 31, 2016
Sep. 30, 2016
Jun. 30, 2016
Mar. 31, 2016
Dec. 31, 2015
Sep. 30, 2015
Jun. 30, 2015
Mar. 31, 2015
Dec. 31, 2014
Sep. 30, 2014
Jun. 30, 2014
Mar. 31, 2014
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
REVENUE                              
Lease rent revenue                         $ 119,895 $ 108,046 $ 101,431
Maintenance reserve revenue                         57,091 53,396 53,322
Spare parts and equipment sales                         17,783 25,582 8,917
Gain on sale of leased equipment                         3,482 8,320 5,882
Other revenue                         9,023 2,718 4,506
Total revenue $ 55,476 $ 51,461 $ 49,618 $ 50,719 $ 55,186 $ 57,730 $ 43,810 $ 41,336 $ 41,205 $ 45,519 $ 43,994 $ 43,340 207,274 198,062 174,058
EXPENSES                              
Depreciation and amortization expense                         66,280 69,424 65,314
Cost of spare parts and equipment sales                         13,293 17,849 7,474
Write-down of equipment                         9,514 9,181 5,602
General and administrative                         47,780 42,744 35,859
Technical expense                         6,993 9,403 12,336
Net finance costs:                              
Interest expense                         41,144 39,012 37,062
Loss (gain) on debt extinguishment                         137 (1,151)  
Total net finance costs                         41,281 37,861 37,062
Total expenses                         185,141 186,462 163,647
Earnings from operations                         22,133 11,600 10,411
Earnings from joint ventures                         1,813 1,175 1,329
Income before income taxes                         23,946 12,775 11,740
Income tax expense                         9,877 6,315 4,560
Net income                         14,069 6,460 7,180
Preferred stock dividends                         281    
Accretion of preferred stock issuance costs                         8    
Net income attributable to common shareholders $ 2,418 $ 3,985 $ 3,366 $ 4,011 $ 3,037 $ 2,551 $ (486) $ 1,358 $ (491) $ 1,000 $ 2,319 $ 4,352 $ 13,780 $ 6,460 $ 7,180
Basic earnings per common share: (in dollars per share) $ 0.40 $ 0.63 $ 0.50 $ 0.57 $ 0.39 $ 0.33 $ (0.06) $ 0.17 $ (0.06) $ 0.13 $ 0.29 $ 0.55 $ 2.10 $ 0.83 $ 0.91
Diluted earnings per common share: (in dollars per share) $ 0.39 $ 0.62 $ 0.49 $ 0.55 $ 0.38 $ 0.32 $ (0.06) $ 0.17 $ (0.06) $ 0.12 $ 0.28 $ 0.54 $ 2.05 $ 0.81 $ 0.88
Average common shares outstanding (in shares) 6,149 6,307 6,685 7,149 7,739 7,839 7,841 7,848 7,839 7,938 7,976 7,914 6,570 7,817 7,917
Diluted average common shares outstanding (in shares) 6,275 6,448 6,819 7,272 7,872 7,963 7,841 8,044 8,037 8,123 8,179 8,129 6,714 7,987 8,141