XML 26 R4.htm IDEA: XBRL DOCUMENT v3.8.0.1
Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 12 Months Ended
Dec. 31, 2017
Sep. 30, 2017
Jun. 30, 2017
Mar. 31, 2017
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, 2017
Dec. 31, 2016
Dec. 31, 2015
REVENUE                              
Lease rent revenue                         $ 130,369 $ 119,895 $ 108,046
Maintenance reserve revenue                         80,189 57,091 53,396
Spare parts and equipment sales                         51,423 17,783 25,582
Gain on sale of leased equipment                         4,929 3,482 8,320
Other revenue                         7,930 9,023 2,718
Total revenue $ 63,189 $ 65,861 $ 67,844 $ 77,946 $ 55,476 $ 51,461 $ 49,618 $ 50,719 $ 55,186 $ 57,730 $ 43,810 $ 41,336 274,840 207,274 198,062
EXPENSES                              
Depreciation and amortization expense                         66,023 66,280 69,424
Cost of spare parts and equipment sales                         40,848 13,293 17,849
Write-down of equipment                         24,930 9,514 9,181
General and administrative                         55,737 47,780 42,744
Technical expense                         9,729 6,993 9,403
Net finance costs:                              
Interest expense                         48,720 41,144 39,012
Loss (gain) on debt extinguishment                           (137) 1,151
Total net finance costs                         48,720 41,281 37,861
Total expenses                         245,987 185,141 186,462
Earnings from operations                         28,853 22,133 11,600
Earnings from joint ventures                         7,158 1,813 1,175
Income before income taxes                         36,011 23,946 12,775
Income tax (benefit) expense                         (26,147) 9,877 6,315
Net income                         62,158 14,069 6,460
Preferred stock dividends                         1,813 281  
Accretion of preferred stock issuance costs                         46 8  
Net income attributable to common shareholders $ 41,864 $ 4,939 $ 5,657 $ 7,839 $ 2,418 $ 3,985 $ 3,366 $ 4,011 $ 3,037 $ 2,551 $ (486) $ 1,358 $ 60,299 $ 13,780 $ 6,460
Basic earnings per common share: (in dollars per share) $ 6.87 $ 0.82 $ 0.94 $ 1.28 $ 0.40 $ 0.63 $ 0.50 $ 0.57 $ 0.39 $ 0.33 $ (0.06) $ 0.17 $ 9.93 $ 2.10 $ 0.83
Diluted earnings per common share: (in dollars per share) $ 6.75 $ 0.80 $ 0.92 $ 1.25 $ 0.39 $ 0.62 $ 0.49 $ 0.55 $ 0.38 $ 0.32 $ (0.06) $ 0.17 $ 9.69 $ 2.05 $ 0.81
Basic weighted average common shares outstanding 6,090 6,055 6,036 6,114 6,149 6,307 6,685 7,149 7,739 7,839 7,841 7,848 6,074 6,570 7,817
Diluted average common shares outstanding (in shares) 6,201 6,173 6,142 6,240 6,275 6,448 6,819 7,272 7,872 7,963 7,841 8,044 6,220 6,714 7,987