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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenues:        
Lease rental revenue $ 172,380 $ 192,823 $ 371,300 $ 374,057
Direct financing and sales-type lease revenue 4,537 8,321 11,303 16,764
Amortization of lease premiums, discounts and incentives (6,404) (5,345) (12,100) (11,056)
Total lease revenue 242,681 222,366 489,223 422,733
Gain (loss) on sale of flight equipment (279) 346 26,770 12,348
Total revenues 255,452 223,416 537,950 437,343
Operating expenses:        
Depreciation 88,117 89,578 177,822 174,313
Interest, net 56,226 66,377 117,733 129,840
Selling, general and administrative (including non-cash share-based payment expense of $0 and $3,177 for the three months ended, and $38,727 and $5,903 for the six months ended June 30, 2020 and 2019, respectively) 13,564 18,317 75,946 36,317
Impairment of flight equipment 280,088 7,404 342,745 7,404
Maintenance and other costs 4,241 5,213 8,997 12,617
Total operating expenses 442,236 186,889 723,243 360,491
Gain (Loss) on Extinguishment of Debt (65) 0 (4,020) 0
Merger Expenses (220) 0 (32,430) 0
Other expense:        
Other 1 (1,910) (111) (3,971)
Nonoperating Income (Expense) (284) (1,910) (36,561) (3,971)
Income (loss) from continuing operations before income taxes and earnings of unconsolidated equity method investments (187,068) 34,617 (221,854) 72,881
Income tax provision 4,671 5,992 4,820 9,090
Earnings of unconsolidated equity method investments, net of tax 762 2,487 1,476 2,131
Net income (loss) (190,977) 31,112 (225,198) 65,922
Net derivative loss reclassified into earnings 0 0 0 184
Net current period other comprehensive income 0 0 0 184
Comprehensive Income (Loss), Net of Tax, Attributable to Parent (190,977) 31,112 (225,198) 66,106
Maintenance revenue        
Revenues:        
Revenues from contracts with customers 72,168 26,567 118,720 42,968
Other revenue        
Revenues:        
Revenues from contracts with customers $ 13,050 $ 704 $ 21,957 $ 2,262