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Condensed Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
REVENUE    
Lease rent revenue $ 46,395 $ 48,369
Maintenance reserve revenue 20,528 25,350
Spare parts and equipment sales 9,105 17,502
Gain on sale of leased equipment 2,067 9,570
Other revenue 3,514 2,978
Total revenue 81,609 103,769
EXPENSES    
Depreciation and amortization expense 23,390 20,258
Cost of spare parts and equipment sales 6,688 14,412
Write-down of equipment 2,129 1,105
General and administrative 19,567 21,440
Technical expense 1,127 1,788
Net finance costs:    
Interest expense 15,696 17,879
Loss on debt extinguishment 4,688 0
Total net finance costs 20,384 17,879
Total expenses 73,285 76,882
Earnings from operations 8,324 26,887
Earnings from joint ventures 207 946
Income before income taxes 8,531 27,833
Income tax expense 4,245 6,955
Net income 4,286 20,878
Preferred stock dividends 810 801
Accretion of preferred stock issuance costs 21 21
Net income attributable to common shareholders $ 3,455 $ 20,056
Basic weighted average earnings per common share (in dollars per share) $ 0.59 $ 3.47
Diluted weighted average earnings per common share (in dollars per share) $ 0.56 $ 3.35
Basic weighted average common shares outstanding (in shares) 5,860 5,779
Diluted weighted average common shares outstanding (in shares) 6,124 5,978