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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
2 Months Ended
Feb. 29, 2020
Feb. 28, 2019
Revenues:    
Lease rental revenue $ 131,119 $ 121,919
Direct financing and sales-type lease revenue 4,447 5,660
Amortization of lease premiums, discounts and incentives (3,669) (3,632)
Total lease revenue 173,111 125,824
Gain on sale of flight equipment 15,354 4,173
Total revenues 197,648 130,381
Operating expenses:    
Depreciation 59,853 56,064
Interest, net 41,038 42,163
Selling, general and administrative (including non-cash share-based payment expense of $10,678 and $1,602 for the two months ended February 29, 2020 and February 28, 2019, respectively) 23,189 11,646
Impairment of flight equipment 62,657 0
Maintenance and other costs 1,703 3,480
Total operating expenses 188,440 113,353
Gain (Loss) on Extinguishment of Debt (3,955) 0
Other expense:    
Other (415) (375)
Nonoperating Income (Expense) (4,370) (375)
Income from continuing operations before income taxes and earnings of unconsolidated equity method investments 4,838 16,653
Income tax provision 1,675 752
Earnings of unconsolidated equity method investments, net of tax 496 1,611
Net income $ 3,659 $ 17,512
Earnings per common share – Basic $ 0.05 $ 0.23
Earnings per common share – Diluted 0.05 0.23
Dividend per Common Share $ 0.32 $ 0.30
Net derivative loss reclassified into earnings $ 0 $ 184
Net current period other comprehensive income 0 184
Comprehensive Income (Loss), Net of Tax, Attributable to Parent 3,659 17,696
Earnings (loss) per common share — Diluted:    
Interest Rate Cash Flow Hedge Gain (Loss) Reclassified to Earnings, Net 0 184
Maintenance revenue    
Revenues:    
Revenues from contracts with customers 41,214 1,877
Other revenue    
Revenues:    
Revenues from contracts with customers $ 9,183 $ 384