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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 12 Months Ended
Dec. 31, 2019
Sep. 30, 2019
Jun. 30, 2019
Mar. 31, 2019
Dec. 31, 2018
Sep. 30, 2018
Jun. 30, 2018
Mar. 31, 2018
Dec. 31, 2019
Dec. 31, 2018
REVENUE                    
Lease rent revenue                 $ 190,690 $ 175,609
Maintenance reserve revenue                 108,998 87,009
Spare parts and equipment sales                 74,651 71,141
Gain on sale of leased equipment                 20,044 6,944
Other revenue                 14,777 7,644
Total revenue $ 89,228 $ 120,366 $ 95,797 $ 103,769 $ 118,190 $ 80,958 $ 78,702 $ 70,497 409,160 348,347
EXPENSES                    
Depreciation and amortization expense                 86,236 76,814
Cost of spare parts and equipment sales                 62,647 61,025
Write-down of equipment                 18,220 10,651
General and administrative                 86,523 72,021
Technical expense                 8,122 11,142
Net finance costs:                    
Interest expense                 66,889 64,220
Loss on debt extinguishment                 220 0
Total expenses                 67,109 64,220
Total expenses                 328,857 295,873
Earnings from operations                 80,303 52,474
Earnings from joint ventures                 8,578 3,800
Income before income taxes                 88,881 56,274
Income tax expense                 21,959 13,043
Net income                 66,922 43,231
Preferred stock dividends                 3,250 3,250
Accretion of preferred stock issuance costs                 84 83
Net income attributable to common shareholders $ 4,156 $ 23,232 $ 16,144 $ 20,056 $ 17,274 $ 8,834 $ 7,528 $ 6,261 $ 63,588 $ 39,898
Basic weighted average earnings per common share (in dollars per share) $ 0.71 $ 3.97 $ 2.75 $ 3.47 $ 2.99 $ 1.50 $ 1.28 $ 1.03 $ 10.90 $ 6.75
Diluted weighted average earnings per common share (in dollars per share) $ 0.68 $ 3.81 $ 2.66 $ 3.35 $ 2.91 $ 1.47 $ 1.26 $ 1.00 $ 10.50 $ 6.60
Basic weighted average common shares outstanding (in shares) 5,850 5,847 5,866 5,779 5,782 5,900 5,878 6,104 5,836 5,915
Diluted weighted average common shares outstanding (in shares) 6,099 6,094 6,061 5,978 5,939 6,004 5,991 6,256 6,058 6,046