XML 15 R4.htm IDEA: XBRL DOCUMENT v3.4.0.3
Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
REVENUE    
Lease rent revenue $ 28,139 $ 25,097
Maintenance reserve revenue 15,819 14,148
Spare parts and equipment sales 2,609 2,151
Gain on sale of leased equipment 2,989 662
Other revenue 1,000 756
Total revenue 50,556 42,814
EXPENSES    
Depreciation and amortization expense 16,644 17,705
Cost of Spare Parts and Equipment Sales 1,915 1,480
Write-down of equipment 2,036 24
General and administrative 11,752 9,972
Technical expense 1,696 1,832
Net finance costs:    
Interest expense 10,008 9,567
Gain on debt extinguishment   (1,151)
Total net finance costs 10,008 8,416
Total expenses 44,051 39,429
Earnings from operations 6,505 3,385
Earnings from joint ventures 187 354
Income before income taxes 6,692 3,739
Income tax expense 2,924 1,441
Net income $ 3,768 $ 2,298
Basic earnings per common share: (in dollars per share) $ 0.53 $ 0.29
Diluted earnings per common share: (in dollars per share) $ 0.52 $ 0.29
Average common shares outstanding (in shares) 7,149 7,848
Diluted average common shares outstanding (in shares) 7,272 8,044