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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Revenues        
Rental of flight equipment $ 463,870 $ 393,479 $ 919,609 $ 771,341
Aircraft sales, trading and other 7,525 4,335 17,837 7,682
Total revenues 471,395 397,814 937,446 779,023
Expenses        
Interest 96,824 73,452 186,044 142,395
Amortization of debt discounts and issuance costs 8,712 8,010 17,252 16,032
Interest expense 105,536 81,462 203,296 158,427
Depreciation of flight equipment 171,689 142,600 331,160 278,734
Selling, general and administrative 27,771 21,458 57,473 44,817
Stock-based compensation 5,863 4,885 10,037 8,317
Total expenses 310,859 250,405 601,966 490,295
Income before taxes 160,536 147,409 335,480 288,728
Income tax expense (32,231) (32,198) (69,081) (62,866)
Net income 128,305 115,211 266,399 225,862
Preferred stock dividends (4,271)   (4,271)  
Net income available to common stockholders $ 124,034 $ 115,211 $ 262,128 $ 225,862
Earnings per share of Class A and Class B common stock:        
Basic (in dollars per share) $ 1.11 $ 1.11 $ 2.36 $ 2.17
Diluted (in dollars per share) $ 1.10 $ 1.04 $ 2.33 $ 2.04
Weighted-average shares outstanding        
Basic (in shares) 111,371,790 104,003,960 111,196,011 103,876,647
Diluted (in shares) 112,807,023 112,424,582 112,598,623 112,326,506
Dividends declared per share of Class A common stock (in dollars per share) $ 0.13 $ 0.10 $ 0.26 $ 0.20