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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Revenues        
Rental of flight equipment $ 359,487 $ 340,864 $ 1,072,254 $ 985,375
Aircraft sales, trading and other 17,278 14,237 45,655 63,193
Total revenues 376,765 355,101 1,117,909 1,048,568
Expenses        
Interest 63,514 64,720 193,591 188,870
Amortization of debt discounts and issuance costs 6,959 8,081 22,388 22,630
Interest expense 70,473 72,801 215,979 211,500
Depreciation of flight equipment 127,553 113,251 377,952 333,962
Selling, general and administrative 19,262 19,874 65,677 59,929
Stock-based compensation 5,358 4,602 14,435 12,342
Total expenses 222,646 210,528 674,043 617,733
Income before taxes 154,119 144,573 443,866 430,835
Income tax expense (54,931) (51,297) (158,816) (152,898)
Net income $ 99,188 $ 93,276 $ 285,050 $ 277,937
Net income per share of Class A and Class B common stock:        
Basic (in dollars per share) $ 0.96 $ 0.91 $ 2.76 $ 2.70
Diluted (in dollars per share) $ 0.90 $ 0.86 $ 2.59 $ 2.55
Weighted-average shares outstanding        
Basic (in shares) 103,221,692 102,842,996 103,117,695 102,786,822
Diluted (in shares) 111,709,545 110,788,913 111,558,125 110,737,889