XML 16 R4.htm IDEA: XBRL DOCUMENT v3.7.0.1
Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
REVENUE    
Lease rent revenue $ 30,233 $ 28,276
Maintenance reserve revenue 31,961 15,819
Spare parts and equipment sales 12,596 2,632
Gain on sale of leased equipment 983 2,992
Other revenue 2,173 1,000
Total revenue 77,946 50,719
EXPENSES    
Depreciation and amortization expense 16,628 16,419
Cost of spare parts and equipment sales 9,400 1,932
Write-down of equipment 13,009 2,036
General and administrative 13,201 11,752
Technical expense 2,292 1,696
Net finance costs 10,865 10,008
Total expenses 65,395 43,843
Earnings from operations 12,551 6,876
Earnings from joint ventures 1,854 187
Income before income taxes 14,405 7,063
Income tax expense 6,238 3,052
Net income 8,167 4,011
Preferred stock dividends 321  
Accretion of preferred stock issuance costs 7  
Net income attributable to common shareholders $ 7,839 $ 4,011
Basic earnings per common share: (in dollars per share) $ 1.28 $ 0.56
Diluted earnings per common share: (in dollars per share) $ 1.26 $ 0.55
Average common shares outstanding (in shares) 6,114 7,149
Diluted average common shares outstanding (in shares) 6,240 7,272