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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
May 31, 2022
May 31, 2021
Revenues:    
Lease rental revenue $ 144,144 $ 132,125
Direct financing and sales-type lease revenue 2,598 2,877
Amortization of lease premiums, discounts and incentives (5,388) (5,325)
Maintenance revenue 27,099 26,477
Total lease revenue 168,453 156,154
Gain on sale of flight equipment 3,687 9,021
Other revenue 3,424 635
Total revenues 175,564 165,810
Operating expenses:    
Depreciation 81,318 82,391
Interest, net 50,294 58,037
Selling, general and administrative 19,916 15,583
Provision for credit losses 580 6
Impairment of flight equipment 4,428 20,583
Maintenance and other costs 8,065 7,528
Total operating expenses 164,601 184,128
Other income (expense):    
Loss on extinguishment of debt (463) (24)
Other 0 10
Total other income (expense) (463) (14)
Income (loss) from continuing operations before income taxes and earnings of unconsolidated equity method investments 10,500 (18,332)
Income tax provision (benefit) 3,329 (8,292)
Earnings of unconsolidated equity method investments, net of tax 511 287
Net income (loss) 7,682 (9,753)
Earnings available to common shareholders – Basic 7,682 (9,753)
Total comprehensive income (loss) available to common shareholders $ 7,682 $ (9,753)