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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:    
Net income $ 9,748 $ 66,922
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 94,541 86,236
Write-down of equipment 20,540 18,220
Stock-based compensation expenses 11,378 7,787
Amortization of deferred costs 5,140 6,364
Allowances and provisions 5 (272)
Gain on sale of leased equipment (3,391) (20,044)
Income from joint ventures (2,642) (8,578)
Loss on sale of note receivable 79 0
(Gain) Loss on disposal of property, equipment and furnishings (9) 42
Loss on debt extinguishment 4,688 220
Deferred income taxes 6,953 21,074
Changes in assets and liabilities:    
Receivables (4,215) (517)
Distributions received from joint ventures 7,200 3,300
Inventory 7,026 29,114
Other assets (16,252) (2,519)
Accounts payable and accrued expenses (18,441) 2,131
Maintenance reserves (24,386) 22,282
Security deposits (1,166) (2,108)
Unearned revenue (3,352) 661
Net cash provided by operating activities 93,444 230,315
Cash flows from investing activities:    
Proceeds from sale of equipment (net of selling expenses) 26,078 191,891
Proceeds from sale of note receivable (net of selling expenses) 8,431 0
Issuance of notes receivable (136,583) (42,857)
Payments received on notes receivable 7,630 4,950
Capital contributions to joint ventures 0 (5,713)
Purchase of equipment held for operating lease (409,250) (289,385)
Purchase of property, equipment and furnishings (2,976) (6,330)
Net cash used in investing activities (506,670) (147,444)
Cash flows from financing activities:    
Proceeds from issuance of debt obligations 973,200 340,120
Debt issuance costs (6,065) (3,142)
Principal payments on debt obligations (530,783) (428,081)
Interest bearing security deposits 0 (2,092)
Debt prepayment costs (2,373) 0
Proceeds from shares issued under stock compensation plans 428 335
Repurchase of common stock (1,510) (3,567)
Preferred stock dividends (3,259) (3,250)
Cancellation of restricted stock units in satisfaction of withholding tax (1,155) (1,475)
Net cash provided by (used in) financing activities 428,483 (101,152)
Increase/(Decrease) in cash, cash equivalents and restricted cash 15,257 (18,281)
Cash, cash equivalents and restricted cash at beginning of period 63,668 81,949
Cash, cash equivalents and restricted cash at end of period 78,925 63,668
Net cash paid for:    
Interest 54,339 63,585
Income Taxes 510 222
Supplemental disclosures of non-cash activities:    
Liabilities assumed in purchase of equipment held for operating lease 8,868 2,515
Transfers from Equipment held for operating lease to Equipment held for sale 2,800 10,131
Transfers from Equipment held for operating lease to Spare parts inventory 24,702 23,931
Transfers from Equipment held for sale to Spare parts inventory 0 422
Accretion of preferred stock issuance costs $ 84 $ 84