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Consolidated Statements of Cash Flows
$ in Thousands
3 Months Ended
Mar. 31, 2020
USD ($)
Mar. 31, 2019
USD ($)
Statement of Cash Flows [Abstract]    
Net income (loss) $ 77,036 $ 92,811
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 132,695 134,609
Amortization of deferred debt cost and other debt related amortization 3,595 3,601
Lease related amortization 7,054 12,254
Share-based compensation expense 1,605 1,818
Net (gain) loss on sale of leasing equipment (4,077) (8,469)
Unrealized (gain) loss on derivative instruments 297 986
Debt termination expense 31 0
Deferred income taxes 5,505 7,116
Changes in operating assets and liabilities:    
Accounts receivable (3,775) 41,421
Accounts payable and other accrued expenses (15,111) 3,019
Net equipment sold for resale activity 1,435 (8,803)
Cash collections on finance lease receivables, net of income earned 15,466 17,125
Other assets (23,796) (1,757)
Net cash provided by (used in) operating activities 197,960 295,731
Cash flows from investing activities:    
Purchases of leasing equipment and investments in finance leases (62,406) (43,981)
Proceeds from sale of equipment, net of selling costs 49,498 49,947
Other (216) 26
Net cash provided by (used in) investing activities (13,124) 5,992
Cash flows from financing activities:    
Issuance of preferred shares, net of underwriting discount 145,275 83,058
Purchases of treasury shares (34,357) (82,266)
Redemption of common shares for withholding taxes (2,156) (978)
Debt issuance costs 0 (1,962)
Borrowings under debt facilities 530,000 125,000
Payments under debt facilities and finance lease obligations (425,073) (293,290)
Dividends paid on preferred shares (9,395) 0
Dividends paid on common shares (37,110) (40,427)
Distributions to noncontrolling interests 0 2,078
Purchase of noncontrolling interests 0 (71,000)
Other (410) 0
Net cash provided by (used in) financing activities 166,774 (283,943)
Net increase (decrease) in cash, cash equivalents and restricted cash 351,610 17,780
Cash, cash equivalents and restricted cash, beginning of period 168,972 159,539
Cash, cash equivalents and restricted cash, end of period 520,582 177,319
Supplemental non-cash investing activities:    
Interest paid 53,795 66,106
Income taxes paid (refunded) 139 155
Right-of-use asset for leased property 0 8,289
Equipment purchases payable $ 29,109 $ 38,463