XML 73 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Income (Loss) (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 12 Months Ended
Dec. 31, 2013
Sep. 30, 2013
Jun. 30, 2013
Mar. 31, 2013
Dec. 31, 2012
Sep. 30, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2011
Sep. 30, 2011
Jun. 30, 2011
Mar. 31, 2011
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
REVENUE                              
Lease rent revenue                         $ 101,737 $ 94,591 $ 104,663
Maintenance reserve revenue                         46,694 41,387 39,161
Gain on sale of leased equipment                         5,675 5,499 11,110
Other revenue                         4,306 6,613 1,719
Total revenue 47,203 37,952 37,953 35,304 39,692 37,506 35,153 35,739 37,669 39,480 38,692 40,812 158,412 148,090 156,653
EXPENSES                              
Depreciation and amortization expense                         58,727 52,591 51,250
Write-down of equipment                         6,461 5,874 3,341
General and administrative                         33,868 34,551 35,701
Technical expense                         12,863 7,006 8,394
Net finance costs:                              
Interest expense                         38,719 31,749 35,201
Interest income                           (80) (167)
Loss on debt extinguishment and derivatives termination                           15,462 343
Total net finance costs                         38,719 47,131 35,377
Total expenses                         150,638 147,153 134,063
Earnings from operations                         7,774 937 22,590
Earnings from joint ventures                         3,526 1,759 1,295
Income before income taxes                         11,300 2,696 23,885
Income tax benefit (expense)                         4,326 (1,161) (9,377)
Net income 6,553 (2,229) 9,692 1,610 2,211 (7,194) 3,229 3,289 3,648 2,316 3,481 5,063 15,626 1,535 14,508
Preferred stock dividends                           2,493 3,128
Preferred stock redemption costs                           2,835  
Net income (loss) attributable to common shareholders $ 6,553 $ (2,229) $ 9,692 $ 1,610 $ (771) $ (7,976) $ 2,447 $ 2,507 $ 2,866 $ 1,534 $ 2,699 $ 4,281 $ 15,626 $ (3,793) $ 11,380
Basic earnings (loss) per common share: (in dollars per share) $ 0.84 $ (0.29) $ 1.20 $ 0.20 $ (0.09) $ (0.94) $ 0.29 $ 0.30 $ 0.34 $ 0.18 $ 0.33 $ 0.5 $ 1.95 $ (0.45) $ 1.35
Diluted earnings (loss) per common share: (in dollars per share) $ 0.81 $ (0.28) $ 1.17 $ 0.19 $ (0.09) $ (0.91) $ 0.28 $ 0.29 $ 0.33 $ 0.17 $ 0.31 $ 0.47 $ 1.89 $ (0.43) $ 1.28
Average common shares outstanding (in shares) 7,846 8,126 8,106 8,033 8,277 8,667 8,585 8,404 8,425 8,397 8,322 8,552 8,029 8,490 8,423
Diluted average common shares outstanding (in shares) 8,084 8,329 8,303 8,273 8,525 8,889 8,848 8,756 8,758 8,811 8,796 9,048 8,289 8,791 8,876