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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash flows from operating activities:    
Net income $ 7,377 $ 872
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 32,607 35,288
Write-down of equipment 3,929 3,082
Stock-based compensation expenses 1,849 1,947
Amortization of deferred costs 2,157 2,127
Allowances and provisions (419) 50
Gain on sale of leased equipment (3,250) (3,862)
Loss (gain) on extinguishment of debt 137 (1,151)
Income from joint ventures (243) (569)
Deferred income taxes 4,990 441
Changes in assets and liabilities:    
Receivables (225) (5,062)
Spare parts inventory 1,799 (413)
Other assets 297 (2,722)
Accounts payable and accrued expenses (2,322) (3,473)
Restricted cash (5,790) 2,341
Maintenance reserves (1,782) 1,296
Security deposits (105) (464)
Unearned lease revenue (256) 676
Net cash provided by operating activities 40,750 30,404
Cash flows from investing activities:    
Proceeds from sale of equipment (net of selling expenses) 54,204 33,912
Restricted cash for investing activities (1,345) (15,906)
Capital contribution to joint ventures (4,610) (630)
Distributions received from joint ventures 1,167  
Maintenance rights payments received   1,709
Purchase of equipment held for operating lease (61,472) (80,566)
Purchase of maintenance rights (4,634) 5,802
Purchase of property, equipment and furnishings (183) (3,617)
Net cash provided by (used in) investing activities (16,873) (59,296)
Cash flows from financing activities:    
Proceeds from issuance of notes payable 55,000 118,700
Debt issuance cost (3,755) (13)
Interest bearing security deposit   (1,046)
Restricted cash from financing activities 1,345 14,137
Proceeds from shares issued under stock compensation plans 82 85
Cancellation of restricted stock units in satisfaction of withholding tax (581) (862)
Excess tax benefit from stock-based compensation 254 130
Repurchase of common stock (22,399) (2,039)
Principal payments on notes payable (42,501) (97,521)
Net cash provided by (used in) financing activities (12,555) 31,571
Increase in cash and cash equivalents 11,322 2,679
Cash and cash equivalents at beginning of period 9,732 13,493
Cash and cash equivalents at end of period 21,054 16,172
Net cash paid for:    
Interest 18,563 17,675
Income Taxes 72 79
Supplemental disclosures of non-cash investing activities:    
Purchase of aircraft and engines, liability incurred but not paid 2,565 822
Engines and equipment, transferred from Held for Operating Lease to Held for Sale but not settled 18,371 $ 15,377
Transfer from property, equipment and furnishings to assets held for lease $ 2,925