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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Cash flows from operating activities:      
Net income $ 43,231 $ 62,158 $ 14,069
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization expense 76,814 66,023 66,280
Write-down of equipment 10,651 24,930 9,514
Stock-based compensation expenses 5,410 4,270 3,717
Excess tax benefit from stock-based compensation     236
Amortization of deferred costs 6,403 5,183 4,271
Allowances and provisions 1,503 162 (571)
Gain on sale of leased equipment (6,944) (4,929) (3,482)
Gain on insurance settlement   (1,288)  
Income from joint ventures (3,800) (7,158) (1,813)
Loss on disposal of property, equipment and furnishings (41)    
Loss on debt extinguishment     137
Deferred income taxes 12,057 (26,393) 9,099
Changes in assets and liabilities:      
Receivables (5,925) (2,525) (2,287)
Distributions received from joint ventures 5,730 1,880 1,167
Spare parts inventory 12,111 (1,855) (5,093)
Intangibles     (1,511)
Other assets (3,453) (970) (1,707)
Accounts payable and accrued expenses 12,543 1,129 2,330
Maintenance reserves 21,964 7,994 548
Security deposits 3,075 6,246 (4,048)
Unearned lease revenue (2,642) 2,279 732
Net cash provided by operating activities 188,687 137,136 91,588
Cash flows from investing activities:      
Proceeds from sale of equipment (net of selling expenses) 64,429 43,791 62,525
Proceeds from insurance settlement   14,886  
Capital contribution to joint ventures     (5,545)
Purchase of equipment held for operating lease (441,416) (373,483) (173,662)
Purchase of maintenance rights     (5,530)
Purchase of property, equipment and furnishings (3,487) (10,788) (1,006)
Net cash used in investing activities (380,474) (325,594) (123,218)
Cash flows from financing activities:      
Proceeds from issuance of debt obligations 759,439 686,200 149,000
Debt issuance cost (7,748) (8,262) (3,808)
Principal payments on debt obligations (504,753) (496,160) (113,981)
Interest bearing security deposits   (2,261) 455
Proceeds from shares issued under stock compensation plans 245 177 155
Cancellation of restricted stock units in satisfaction of withholding tax (1,288) (1,094) (1,369)
Repurchase of common stock (16,135) (3,546) (28,958)
Proceeds from the issuance of preferred stock   29,665 19,752
Preferred stock dividends (3,348) (1,311)  
Net cash provided by financing activities 226,412 203,408 21,246
Increase/(decrease) in cash, cash equivalents and restricted cash 34,625 14,950 (10,384)
Cash, cash equivalents and restricted cash at beginning of period 47,324 32,374 42,758
Cash, cash equivalents and restricted cash at end of period 81,949 47,324 32,374
Net cash paid for:      
Interest 59,122 42,817 37,319
Income Taxes 1,073 440 459
Supplemental disclosures of non-cash activities:      
Purchase of aircraft and engines 21,656 2,696 5,337
Transfers from Equipment held for operating lease to Equipment held for sale   45,018 28,560
Transfers from Equipment held for sale to Spare parts inventory 26,387 210  
Transfers from Equipment held for operating lease to Spare parts inventory 18,220    
Transfers from Property, equipment and furnishings to Equipment held for lease     2,925
Accrued preferred stock dividends 686 783 281
Accretion of preferred stock issuance costs $ 83 $ 46 $ 8