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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Cash flows from operating activities:    
Net income $ 11,362 $ 3,423
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 49,235 52,390
Write-down of equipment 5,924 8,580
Stock-based compensation expenses 2,755 2,961
Amortization of deferred costs 3,231 3,254
Allowances and provisions (597) 181
Gain on sale of leased equipment (3,430) (7,666)
Loss (gain) on extinguishment of debt 137 (1,151)
Income from joint ventures (874) (1,127)
Deferred income taxes 7,332 2,429
Changes in assets and liabilities:    
Receivables 2,094 (8,049)
Spare parts inventory 1,116 1,843
Other assets (664) (1,221)
Accounts payable and accrued expenses (1,729) (7,740)
Restricted cash 3,409 10,238
Maintenance reserves (9,895) 3,315
Security deposits (479) 5,204
Unearned lease revenue (57) 773
Net cash provided by operating activities 68,870 67,637
Cash flows from investing activities:    
Proceeds from sale of equipment (net of selling expenses) 61,825 39,300
Restricted cash for investing activities 55 (11,222)
Capital contribution to joint ventures (5,545) (630)
Distributions received from joint ventures 1,167 1,304
Maintenance rights payments received   1,709
Purchase of equipment held for operating lease (113,249) (137,959)
Purchase of maintenance rights (4,634) 5,802
Purchase of property, equipment and furnishings (357) (3,734)
Net cash used in investing activities (60,738) (105,430)
Cash flows from financing activities:    
Proceeds from issuance of notes payable 87,000 140,700
Debt issuance cost (3,808) (13)
Restricted cash from financing activities 1,345 25,359
Proceeds from shares issued under stock compensation plans 155 519
Cancellation of restricted stock units in satisfaction of withholding tax (866) (1,101)
Excess tax benefit from stock-based compensation 189 75
Repurchase of common stock (25,022) (3,650)
Principal payments on notes payable (66,204) (128,344)
Net cash provided by (used in) financing activities (7,211) 33,545
Increase in cash and cash equivalents 921 (4,248)
Cash and cash equivalents at beginning of period 9,732 13,493
Cash and cash equivalents at end of period 10,653 9,245
Net cash paid for:    
Interest 27,855 26,637
Income Taxes 137 99
Supplemental disclosures of non-cash investing activities:    
Purchase of aircraft and engines, liability incurred but not paid 3,089 3,260
Engines and equipment, transferred from Held for Operating Lease to Held for Sale but not settled 9,266 $ 19,654
Transfer from property, equipment and furnishings to assets held for lease $ 2,925