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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Dec. 31, 2016
Cash flows from operating activities:          
Net income $ 5,990 $ 3,366 $ 14,158 $ 7,377  
Adjustments to reconcile net income to net cash provided by operating activities:          
Depreciation and amortization expense 16,015 16,188 32,644 32,607  
Write-down of equipment 2,277 1,893 15,285 3,929  
Stock-based compensation expenses     2,074 1,849  
Amortization of deferred costs     2,361 2,157  
Allowances and provisions     272 (419)  
Gain on sale of leased equipment (3,527) (258) (4,509) (3,250)  
Gain on debt extinguishment   (137)   (137)  
Income from joint ventures     (3,015) (243)  
Excess tax benefit from stock-based compensation       254  
Deferred income taxes     10,406 4,990  
Changes in assets and liabilities:          
Receivables     3,345 (225)  
Spare parts inventory     645 1,799  
Other assets     (3,315) 297  
Accounts payable and accrued expenses     8,139 (2,322)  
Maintenance reserves     (342) (1,782)  
Security deposits     1,757 (105)  
Unearned lease revenue     (628) (256)  
Net cash provided by operating activities     79,277 46,794  
Cash flows from investing activities:          
Proceeds from sale of equipment (net of selling expenses)     37,754 54,204  
Capital contribution to joint ventures       (4,610)  
Distributions received from joint ventures     1,880 1,167  
Purchase of equipment held for operating lease     (112,233) (61,472)  
Purchase of maintenance rights       (4,634)  
Purchase of property, equipment and furnishings     (326) (183)  
Net cash provided by ( used in) investing activities     (72,925) (15,528)  
Cash flows from financing activities:          
Proceeds from issuance of notes payable     93,000 55,000  
Debt issuance cost       (3,755)  
Proceeds from shares issued under stock compensation plans     93 82  
Cancellation of restricted stock units in satisfaction of withholding tax     (622) (581)  
Repurchase of common stock     (3,348) (22,399)  
Preferred stock dividends, net     (596)    
Principal payments on notes payable     (72,752) (42,501)  
Net cash used in financing activities     15,775 (14,154)  
Increase (decrease) in cash, cash equivalents and restricted cash     22,127 17,112  
Cash, cash equivalents and restricted cash at beginning of period     32,373 42,758 $ 42,758
Cash, cash equivalents and restricted cash at end of period $ 54,500 $ 59,870 54,500 59,870 32,373
Net cash paid for:          
Interest     19,426 18,653  
Income Taxes     332 72  
Supplemental disclosures of non-cash investing activities:          
Purchase of aircraft and engines, liability incurred but not paid     1,624   2,565
Engines and equipment, transferred from Held for Operating Lease to Held for Sale but not settled     $ 27,408   $ 18,371
Transfer from property, equipment and furnishings to assets held for lease       $ 2,925