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Condensed Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
REVENUE    
Lease rent revenue   $ 46,395
Gain on sale of leased equipment $ 0 2,067
Total revenue 61,125 81,609
EXPENSES    
Depreciation and amortization expense 24,141 23,390
Cost of spare parts and equipment sales 3,809 6,688
Write-down of equipment 1,867 2,129
General and administrative 16,151 19,567
Technical expense 1,310 1,127
Net finance costs:    
Interest expense 15,019 15,696
Loss on debt extinguishment 0 4,688
Total net finance costs 15,019 20,384
Total expenses 62,297 73,285
(Loss) earnings from operations (1,172) 8,324
(Loss) earnings from joint ventures (519) 207
(Loss) income before income taxes (1,691) 8,531
Income tax (benefit) expense (359) 4,245
Net (loss) income (1,332) 4,286
Preferred stock dividends 801 810
Accretion of preferred stock issuance costs 21 21
Net (loss) income attributable to common shareholders $ (2,154) $ 3,455
Basic weighted average (loss) earnings per common share (in dollars per share) $ (0.36) $ 0.59
Diluted weighted average (loss) earnings per common share (in dollars per share) $ (0.36) $ 0.56
Basic weighted average common shares outstanding (in shares) 5,995 5,860
Diluted weighted average common shares outstanding (in shares) 5,995 6,124
Lease rent revenue    
REVENUE    
Lease rent revenue $ 31,520 $ 46,395
Maintenance reserve revenue    
REVENUE    
Lease rent revenue 19,812 20,528
Spare parts and equipment sales    
REVENUE    
Maintenance reserve revenue 4,566 9,105
Other revenue    
REVENUE    
Maintenance reserve revenue $ 5,227 $ 3,514