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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
May 31, 2023
May 31, 2022
Revenues:    
Lease rental revenue $ 146,735 $ 144,144
Direct financing and sales-type lease revenue 1,073 2,598
Amortization of lease premiums, discounts and incentives (7,207) (5,388)
Maintenance revenue 34,520 27,099
Total lease revenue 175,121 168,453
Gain on sale of flight equipment 42,594 3,687
Other revenue 776 3,424
Total revenues 218,491 175,564
Operating expenses:    
Depreciation 88,789 81,318
Interest, net 56,891 50,294
Selling, general and administrative 20,835 19,916
Provision for credit losses 6,959 580
Impairment of flight equipment 1,097 4,428
Maintenance and other costs 8,533 8,065
Total operating expenses 183,104 164,601
Other income (expense):    
Loss on extinguishment of debt 0 (463)
Other 1,337 0
Total other income (expense) 1,337 (463)
Income from continuing operations before income taxes and earnings of unconsolidated equity method investment 36,724 10,500
Income tax provision 14,360 3,329
Earnings of unconsolidated equity method investment, net of tax 406 511
Net income 22,770 7,682
Earnings available to common shareholders – Basic 22,770 7,682
Total comprehensive income available to common shareholders $ 22,770 $ 7,682