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Condensed Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
REVENUE        
Gain on sale of leased equipment $ 498 $ 0 $ 2,796 $ 0
Gain on sale of financial assets 3,116 0 3,116 0
Total revenue 78,075 66,472 146,892 127,597
EXPENSES        
Depreciation and amortization expense 21,612 23,340 43,421 47,481
Cost of spare parts and equipment sales 7,014 3,278 11,876 7,087
Write-down of equipment 78 2,246 21,195 4,113
General and administrative 20,427 19,499 44,032 35,650
Technical expense 3,436 2,296 9,082 3,606
Net finance costs:        
Interest expense 16,023 16,987 32,906 32,006
Total net finance costs 16,023 16,987 32,906 32,006
Total expenses 68,590 67,646 162,512 129,943
Income (loss) from operations 9,485 (1,174) (15,620) (2,346)
Income (loss) from joint ventures 1,469 (685) (1,147) (1,204)
Income (loss) before income taxes 10,954 (1,859) (16,767) (3,550)
Income tax expense (benefit) 5,046 (1,917) (1,474) (2,276)
Net income (loss) 5,908 58 (15,293) (1,274)
Preferred stock dividends 811 811 1,612 1,612
Accretion of preferred stock issuance costs 21 21 42 42
Net income (loss) attributable to common shareholders $ 5,076 $ (774) $ (16,947) $ (2,928)
Basic weighted average income (loss) per common share (in dollars per share) $ 0.83 $ (0.12) $ (2.81) $ (0.48)
Diluted weighted average income (loss) per common share (in dollars per share) $ 0.81 $ (0.12) $ (2.81) $ (0.48)
Basic weighted average common shares outstanding (in shares) 6,129 6,218 6,040 6,107
Diluted weighted average common shares outstanding (in shares) 6,246 6,218 6,040 6,107
Lease rent revenue        
REVENUE        
Lease rent and maintenance reserve revenue $ 36,704 $ 32,431 $ 74,829 $ 63,951
Maintenance reserve revenue        
REVENUE        
Lease rent and maintenance reserve revenue 24,245 17,278 39,079 37,090
Spare parts and equipment sales        
REVENUE        
Other sales and revenue 6,792 3,569 13,422 8,135
Asset transition fee        
REVENUE        
Other sales and revenue 0 6,256 0 6,256
Other revenue        
REVENUE        
Other sales and revenue $ 6,720 $ 6,938 $ 13,650 $ 12,165