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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Revenues        
Rental of flight equipment $ 492,869 $ 422,763 $ 1,412,478 $ 1,194,104
Aircraft sales, trading and other 38,033 27,935 55,870 35,617
Total revenues 530,902 450,698 1,468,348 1,229,721
Expenses        
Interest 104,637 82,189 290,681 224,584
Amortization of debt discounts and issuance costs 9,078 8,199 26,330 24,231
Interest expense 113,715 90,388 317,011 248,815
Depreciation of flight equipment 183,788 149,703 514,948 428,437
Selling, general and administrative 34,715 26,377 92,188 71,194
Stock-based compensation 4,897 4,848 14,934 13,165
Total expenses 337,115 271,316 939,081 761,611
Income before taxes 193,787 179,382 529,267 468,110
Income tax expense (38,000) (32,808) (107,081) (95,674)
Net income 155,787 146,574 422,186 372,436
Preferred stock dividends (3,844)   (8,115)  
Net income available to common stockholders $ 151,943 $ 146,574 $ 414,071 $ 372,436
Earnings per share of Class A and Class B common stock:        
Basic (in dollars per share) $ 1.36 $ 1.41 $ 3.71 $ 3.58
Diluted (in dollars per share) $ 1.34 $ 1.32 $ 3.67 $ 3.36
Weighted-average shares outstanding        
Basic (in shares) 112,133,556 104,066,785 111,511,960 103,940,723
Diluted (in shares) 113,263,396 112,509,612 112,837,526 112,377,870
Dividends declared per share of Class A common stock (in dollars per share) $ 0.13 $ 0.10 $ 0.39 $ 0.30