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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
REVENUE    
Gain on sale of leased equipment $ 5,975 $ 3,391
Gain on sale of financial assets 10,874 0
Total revenue 274,202 288,692
EXPENSES    
Depreciation and amortization expense 90,504 94,541
Cost of spare parts and equipment sales 14,927 16,762
Write-down of equipment 7,715 20,540
General and administrative 75,350 67,910
Technical expense 9,381 6,533
Net finance costs:    
Interest expense 67,985 63,024
Loss on debt extinguishment 0 4,688
Total net finance costs 67,985 67,712
Total expenses 265,862 273,998
Earnings from operations 8,340 14,694
Earnings from joint ventures 800 2,642
Income before income taxes 9,140 17,336
Income tax expense 5,788 7,588
Net income 3,352 9,748
Preferred stock dividends 3,251 3,259
Accretion of preferred stock issuance costs 83 84
Net income attributable to common shareholders $ 18 $ 6,405
Basic weighted average earnings per common share (in dollars per share) $ 0 $ 1.07
Diluted weighted average earnings per common share (in dollars per share) $ 0 $ 1.05
Basic weighted average common shares outstanding (in shares) 6,112 5,963
Diluted weighted average common shares outstanding (in shares) 6,346 6,128
Lease rent revenue    
REVENUE    
Leasing and maintenance reserve revenue $ 134,831 $ 142,895
Maintenance reserve revenue    
REVENUE    
Leasing and maintenance reserve revenue 73,961 105,365
Spare parts and equipment sales    
REVENUE    
Other sales and revenues 17,417 18,625
Asset transition fee    
REVENUE    
Other sales and revenues 6,256 0
Other revenue    
REVENUE    
Other sales and revenues $ 24,888 $ 18,416