XML 54 R82.htm IDEA: XBRL DOCUMENT v3.20.1
SCHEDULE I - Parent Company Information - Condensed Statements of Income (Details) - USD ($)
$ 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                    
Transfers from Equipment held for operating lease to Equipment held for sale                 10,131 0
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                 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 (benefit) 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
Parent Company                    
REVENUE                    
Lease rent revenue                 64,566 70,269
Maintenance reserve revenue                 48,500 27,407
Spare parts and equipment sales                 18,561 35,388
Gain on sale of leased equipment                 12,269 6,183
Other revenue                 29,644 13,624
Total revenue                 173,540 152,871
EXPENSES                    
Transfers from Equipment held for operating lease to Equipment held for sale                 6,681 0
Depreciation and amortization expense                 30,934 34,795
Cost of spare parts and equipment sales                 17,108 32,331
Write-down of equipment                 4,425 2,567
General and administrative                 71,522 52,896
Technical expense                 8,294 9,858
Net finance costs                 18,898 25,210
Total expenses                 151,181 157,657
Earnings from operations                 22,359 (4,786)
Earnings from joint ventures                 8,578 3,800
Income before income taxes                 30,937 (986)
Income tax (benefit) expense                 (9,456) 280
Equity in income of subsidiaries                 45,441 43,937
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                 $ 63,588 $ 39,898