Operating Segments (Tables)

6 Months Ended

Jun. 30, 2016

Operating Segments

Summary of the operating segments

The following tables present a summary of the operating segments (amounts in thousands):

	Leasing and
For the three months ended June 30, 2016	Related Operations		Spare Parts Sales		Eliminations (1)		Total
Revenue:
Lease rent revenue	$	29,181	$	—	$	—	$	29,181
Maintenance reserve revenue		15,514		—		—		15,514
Spare parts and equipment sales		900		2,773		—		3,673
Gain on sale of leased equipment		258		—		—		258
Other revenue		972		590		(570)		992
Total revenue		46,825		3,363		(570)		49,618
Expenses:
Depreciation and amortization expense		16,103		85		—		16,188
Cost of spare parts and equipment sales		648		2,139		—		2,787
General and administrative		9,958		727		—		10,685
Net finance costs		10,414		120		—		10,534
Other expense		3,696		—		—		3,696
Total expenses		40,819		3,071		—		43,890
Earnings from operations	$	6,006	$	292	$	(570)	$	5,728
	Leasing and
For the six months ended June 30, 2016	Related Operations		Spare Parts Sales		Eliminations (1)		Total
Revenue:
Lease rent revenue	$	57,457	$	—	$	—	$	57,457
Maintenance reserve revenue		31,333		—		—		31,333
Spare parts and equipment sales		900		5,405		—		6,305
Gain on sale of leased equipment		3,250		—		—		3,250
Other revenue		1,905		948		(861)		1,992
Total revenue		94,845		6,353		(861)		100,337
Expenses:
Depreciation and amortization expense		32,440		167		—		32,607
Cost of spare parts and equipment sales		648		4,071		—		4,719
General and administrative		20,938		1,499		—		22,437
Net finance costs		20,327		215		—		20,542
Other expense		7,428		—		—		7,428
Total expenses		81,781		5,952		—		87,733
Earnings from operations	$	13,064	$	401	$	(861)	$	12,604
(1) Represents revenue generated between our        operating segments

	Leasing and
For the three months ended June 30, 2015	Related Operations		Spare Parts Sales		Eliminations (1)		Total
Revenue:
Lease rent revenue	$	25,882	$	—	$	—	$	25,882
Maintenance reserve revenue		10,477		—		—		10,477
Spare parts and equipment sales		850		2,866		—		3,716
Gain on sale of leased equipment		3,132		—		—		3,132
Other revenue		583		100		(80)		603
Total revenue		40,924		2,966		(80)		43,810
Expenses:
Depreciation and amortization expense		17,554		72		—		17,626
Cost of spare parts and equipment sales		620		2,200		—		2,820
General and administrative		8,390		722		—		9,112
Net finance costs		9,756		104		—		9,860
Other expense		5,492		—		—		5,492
Total expenses		41,812		3,098		—		44,910
Earnings from operations	$	(888)	$	(132)	$	(80)	$	(1,100)
	Leasing and
For the Six months ended June 30, 2015	Related Operations		Spare Parts Sales		Eliminations (1)		Total
Revenue:
Lease rent revenue	$	51,142	$	—	$	—	$	51,142
Maintenance reserve revenue		22,916		—		—		22,916
Spare parts and equipment sales		850		5,017		—		5,867
Gain on sale of leased equipment		3,862		—		—		3,862
Other revenue		1,199		396		(236)		1,359
Total revenue		79,969		5,413		(236)		85,146
Expenses:
Depreciation and amortization expense		35,144		144		—		35,288
Cost of spare parts and equipment sales		620		3,680		—		4,300
General and administrative		17,729		1,355		—		19,084
Net finance costs		18,082		194		—		18,276
Other expense		7,348		—		—		7,348
Total expenses		78,923		5,373		—		84,296
Earnings from operations	$	1,046	$	40	$	(236)	$	850
(1) Represents revenue generated between our operating segments
Total assets as of June 30, 2016	$	1,267,186	$	25,211	$	—	$	1,292,397
Total assets as of December 31, 2015	$	1,267,414	$	26,871	$	—	$	1,294,285