Operating Segments (Tables)

9 Months Ended

Sep. 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 September 30, 2016	Related Operations		Spare Parts Sales		Eliminations (1)		Total
Revenue:
Lease rent revenue	$	31,270	$	—	$	—	$	31,270
Maintenance reserve revenue		14,229		—		—		14,229
Spare parts and equipment sales		900		3,260		—		4,160
Gain on sale of leased equipment		180		—		—		180
Other revenue		1,487		786		(651)		1,622
Total revenue		48,066		4,046		(651)		51,461
Expenses:
Depreciation and amortization expense		16,541		87		—		16,628
Cost of spare parts and equipment sales		640		2,426		—		3,066
General and administrative		11,500		757		—		12,257
Net finance costs		10,116		114		—		10,230
Other expense		2,934		475		—		3,409
Total expenses		41,731		3,859		—		45,590
Earnings from operations	$	6,335	$	187	$	(651)	$	5,871
	Leasing and
For the nine months ended September 30, 2016	Related Operations		Spare Parts Sales		Eliminations (1)		Total
Revenue:
Lease rent revenue	$	88,727	$	—	$	—	$	88,727
Maintenance reserve revenue		45,562		—		—		45,562
Spare parts and equipment sales		1,800		8,665		—		10,465
Gain on sale of leased equipment		3,430		—		—		3,430
Other revenue		3,392		1,734		(1,512)		3,614
Total revenue		142,911		10,399		(1,512)		151,798
Expenses:
Depreciation and amortization expense		48,981		254		—		49,235
Cost of spare parts and equipment sales		1,288		6,497		—		7,785
General and administrative		32,438		2,256		—		34,694
Net finance costs		30,443		329		—		30,772
Other expense		10,362		475		—		10,837
Total expenses		123,512		9,811		—		133,323
Earnings from operations	$	19,399	$	588	$	(1,512)	$	18,475
(1) Represents revenue generated between our  operating segments

	Leasing and
For the three months ended September 30, 2015	Related Operations		Spare Parts Sales		Eliminations (1)		Total
Revenue:
Lease rent revenue	$	28,055	$	—	$	—	$	28,055
Maintenance reserve revenue		16,119		—		—		16,119
Spare parts and equipment sales		4,600		4,533		—		9,133
Gain on sale of leased equipment		3,804		—		—		3,804
Other revenue		597		135		(113)		619
Total revenue		53,175		4,668		(113)		57,730
Expenses:
Depreciation and amortization expense		17,035		67		—		17,102
Cost of spare parts and equipment sales		2,461		3,458		—		5,919
General and administrative		10,948		794		—		11,742
Net finance costs		9,707		98		—		9,805
Other expense		9,068		—		—		9,068
Total expenses		49,219		4,417		—		53,636
Earnings from operations	$	3,956	$	251	$	(113)	$	4,094
	Leasing and
For the nine months ended September 30, 2015	Related Operations		Spare Parts Sales		Eliminations (1)		Total
Revenue:
Lease rent revenue	$	79,197	$	—	$	—	$	79,197
Maintenance reserve revenue		39,035		—		—		39,035
Spare parts and equipment sales		5,450		9,550		—		15,000
Gain on sale of leased equipment		7,666		—		—		7,666
Other revenue		1,796		531		(349)		1,978
Total revenue		133,144		10,081		(349)		142,876
Expenses:
Depreciation and amortization expense		52,179		211		—		52,390
Cost of spare parts and equipment sales		3,081		7,138		—		10,219
General and administrative		28,751		2,075		—		30,826
Net finance costs		27,789		292		—		28,081
Other expense		16,416		—		—		16,416
Total expenses		128,216		9,716		—		137,932
Earnings from operations	$	4,928	$	365	$	(349)	$	4,944
(1) Represents revenue generated between our  operating segments
Total assets as of September 30, 2016	$	1,266,245	$	25,083	$	—	$	1,291,328
Total assets as of December 31, 2015	$	1,267,414	$	26,871	$	—	$	1,294,285