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CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenues        
Rental of flight equipment $ 497,869 $ 463,870 $ 994,556 $ 919,609
Aircraft sales, trading and other 23,480 7,525 38,180 17,837
Total revenues 521,349 471,395 1,032,736 937,446
Expenses        
Interest 102,693 96,824 210,234 186,044
Amortization of debt discounts and issuance costs 10,233 8,712 20,761 17,252
Interest expense 112,926 105,536 230,995 203,296
Depreciation of flight equipment 194,020 171,689 382,915 331,160
Selling, general and administrative 26,581 27,771 54,903 57,473
Stock-based compensation 3,892 5,863 8,321 10,037
Total expenses 337,419 310,859 677,134 601,966
Income before taxes 183,930 160,536 355,602 335,480
Income tax expense (36,305) (32,231) (70,826) (69,081)
Net income 147,625 128,305 284,776 266,399
Preferred stock dividends (3,844) (4,271) (7,688) (4,271)
Net income available to common stockholders 143,781 124,034 277,088 262,128
Other Comprehensive Income/(Loss):        
Change in foreign currency translation adjustment (10,239)   13,238  
Change from current period hedged transaction 10,905   (14,481)  
Total tax benefit/(expense) on other comprehensive income/loss (142)   289  
Other Comprehensive income/(loss) available for common stockholders, net of tax 524   (954)  
Total comprehensive income available for common stockholders $ 144,305 $ 124,034 $ 276,134 $ 262,128
Earnings per share of common stock:        
Basic (in dollars per share) $ 1.26 $ 1.11 $ 2.44 $ 2.36
Diluted (in dollars per share) $ 1.26 $ 1.10 $ 2.43 $ 2.33
Weighted-average shares outstanding        
Basic (in shares) 113,690,839 111,371,790 113,581,392 111,196,011
Diluted (in shares) 113,773,127 112,807,023 113,840,929 112,598,623
Dividends declared per share of common stock $ 0.15 $ 0.13 $ 0.30 $ 0.26