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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
May 31, 2024
May 31, 2023
Revenues:    
Lease rental revenue $ 162,570 $ 146,735
Direct financing and sales-type lease revenue 5,457 1,073
Amortization of lease premiums, discounts and incentives (6,649) (7,207)
Maintenance revenue 42,149 34,520
Total lease revenue 203,527 175,121
Gain on sale or disposition of flight equipment 1,010 42,594
Other revenue 636 776
Total revenues 205,173 218,491
Operating expenses:    
Depreciation 89,358 88,789
Interest, net 64,813 56,891
Selling, general and administrative 22,055 20,835
Provision for credit losses (145) 6,959
Impairment of flight equipment 5,211 1,097
Maintenance and other costs 4,443 8,533
Total operating expenses 185,735 183,104
Other income (expense):    
Other (304) 1,337
Total other income (expense) (304) 1,337
Income from continuing operations before income taxes and earnings of unconsolidated equity method investment 19,134 36,724
Income tax provision 3,572 14,360
Earnings of unconsolidated equity method investment, net of tax 519 406
Net income 16,081 22,770
Net income available to common shareholders 16,081 22,770
Total comprehensive income available to common shareholders $ 16,081 $ 22,770