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Consolidated Statements of Income (Unaudited) (USD $)
In Thousands, except Per Share data
3 Months Ended9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Sep. 30, 2011
Sep. 30, 2010
Revenues:    
Lease rental revenue$ 145,890$ 133,486$ 430,361$ 391,741
Amortization of net lease discounts and lease incentives(4,709)(4,203)(10,841)(13,957)
Maintenance revenue 2,54025,00614,630
Total lease rentals141,181131,823444,526392,414
Other revenue3264243,733578
Total revenues141,507132,247448,259392,992
Expenses:    
Depreciation60,13255,703178,299164,272
Interest, net48,87247,453150,384128,578
Selling, general and administrative (including non-cash share based payment expense of $1,532 and $1,619 for the three months ended, and $5,243 and $4,692 for the nine months ended, September 30, 2010 and 2011, respectively)12,20011,33436,30934,043
Impairment of aircraft1,2367,3426,4367,342
Maintenance and other costs4,0451,19210,9446,829
Total expenses126,485123,024382,372341,064
Other income (expense):    
Gain (loss) on sale of flight equipment8,997 28,958(1,291)
Other(117)(501)(153)(1,047)
Total other income (expense)8,880(501)28,805(2,338)
Income from continuing operations before income taxes23,9028,72294,69249,590
Income tax provision1,2371536,0414,003
Net income$ 22,665$ 8,569$ 88,651$ 45,587
Earnings per common share - Basic$ 0.31$ 0.11$ 1.15$ 0.57
Earnings per common share - Diluted$ 0.31$ 0.11$ 1.15$ 0.57
Dividends declared per share$ 0.125$ 0.10$ 0.35$ 0.30