XML 18 R8.htm IDEA: XBRL DOCUMENT v3.21.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities:    
Net (loss) income $ (1,332) $ 4,286
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation and amortization expense 24,141 23,390
Write-down of equipment 1,867 2,129
Stock-based compensation expenses 2,762 2,117
Amortization of deferred costs 1,145 1,448
Allowances and provisions (226) 168
Gain on sale of leased equipment 0 (2,067)
Loss (income) from joint ventures 519 (207)
Loss on debt extinguishment 0 4,688
Loss on disposal of property, equipment and furnishings 40 0
Deferred income taxes (484) 4,129
Changes in assets and liabilities:    
Receivables (11,988) (7,232)
Inventory 980 894
Other assets (934) (624)
Accounts payable and accrued expenses (648) (12,630)
Maintenance reserves 6,299 5,537
Security deposits 135 3,734
Unearned revenue 351 (1,500)
Net cash provided by operating activities 22,627 28,260
Cash flows from investing activities:    
Proceeds from sale of equipment (net of selling expenses) 0 11,710
Issuance of notes receivable (39,801) (80,063)
Payments received on notes receivable 958 2,355
Purchase of equipment held for operating lease (26,510) (75,727)
Purchase of property, equipment and furnishings (121) (1,470)
Net cash used in investing activities (65,474) (143,195)
Cash flows from financing activities:    
Proceeds from debt obligations 54,000 643,200
Debt issuance costs 0 (5,779)
Principal payments on debt obligations (24,617) (265,574)
Debt prepayment costs 0 (2,374)
Proceeds from shares issued under stock compensation plans 169 200
Cancellation of restricted stock units in satisfaction of withholding tax (47) (348)
Preferred stock dividends (819) (819)
Net cash provided by financing activities 28,686 368,506
(Decrease) increase in cash, cash equivalents and restricted cash (14,161) 253,571
Cash, cash equivalents and restricted cash at beginning of period 78,925 63,668
Cash, cash equivalents and restricted cash at end of period 64,764 317,239
Net cash paid for:    
Interest 12,344 14,005
Income Taxes 170 (12)
Supplemental disclosures of non-cash activities:    
Purchase of equipment held for operating lease 0 5,680
Transfers from Equipment held for operating lease to Spare parts inventory 169 889
Transfers from Spare parts inventory to Equipment held for operating lease 585 0
Accrued preferred stock dividends $ 18 $ 9