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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Dec. 31, 2016
Cash flows from operating activities:          
Net income $ 5,292 $ 3,985 $ 19,449 $ 11,362  
Adjustments to reconcile net income to net cash provided by operating activities:          
Depreciation and amortization expense 16,142 16,628 48,786 49,235  
Write-down of equipment 6,958 1,995 22,243 5,924  
Stock-based compensation expenses     3,228 2,755  
Amortization of deferred costs     3,639 3,231  
Allowances and provisions     282 (597)  
Gain on sale of leased equipment (174) (180) (4,684) (3,430)  
Gain on debt extinguishment       (137)  
Gain on insurance settlement     (1,288)    
Income from joint ventures     (6,055) (874)  
Excess tax benefit from stock-based compensation       189  
Deferred income taxes     13,367 7,332  
Changes in assets and liabilities:          
Receivables     (220) 2,094  
Spare parts inventory     4,446 1,116  
Other assets     (1,692) (664)  
Accounts payable and accrued expenses     (687) (1,729)  
Maintenance reserves     1,706 (9,895)  
Security deposits     6,651 (479)  
Unearned lease revenue     990 (57)  
Net cash provided by operating activities     110,161 65,650  
Cash flows from investing activities:          
Proceeds from sale of equipment (net of selling expenses)     53,849 61,825  
Capital contribution to joint ventures       (5,545)  
Distributions received from joint ventures     1,880 1,167  
Purchase of equipment held for operating lease     (177,263) (113,249)  
Purchase of maintenance rights       (4,634)  
Purchase of property, equipment and furnishings     (493) (357)  
Net cash provided by ( used in) investing activities     (122,027) (60,793)  
Cash flows from financing activities:          
Proceeds from issuance of notes payable     485,700 87,000  
Debt issuance cost     (7,473) (3,808)  
Interest bearing security deposit     (3,261)    
Proceeds from shares issued under stock compensation plans     177 155  
Cancellation of restricted stock units in satisfaction of withholding tax     (747) (866)  
Repurchase of common stock     (3,546) (25,022)  
Proceeds from issuance of preferred stock     29,700    
Preferred stock dividends, net     (891)    
Principal payments on notes payable     (448,237) (66,204)  
Net cash used in financing activities     51,422 (8,745)  
Increase (decrease) in cash, cash equivalents and restricted cash     39,556 (3,888)  
Cash, cash equivalents and restricted cash at beginning of period     32,374 42,758 $ 42,758
Cash, cash equivalents and restricted cash at end of period $ 71,930 $ 38,870 71,930 38,870 32,374
Net cash paid for:          
Interest     31,932 27,855  
Income Taxes     346 137  
Supplemental disclosures of non-cash investing activities:          
Purchase of aircraft and engines, liability incurred but not paid     2,931   3,089
Engines and equipment, transferred from Held for Operating Lease to Held for Sale but not settled     $ 36,285   $ 9,266
Transfer from property, equipment and furnishings to assets held for lease       $ 2,925