Operating Segments (Tables)

3 Months Ended

Mar. 31, 2017

Operating Segments

Summary of the operating segments

	Leasing and
For the three months ended March 31, 2017	Related Operations		Spare Parts Sales		Eliminations (1)		Total
Revenue:
Lease rent revenue	$	30,233	$	—	$	—	$	30,233
Maintenance reserve revenue		31,961		—		—		31,961
Spare parts and equipment sales		6,425		6,171		—		12,596
Gain on sale of leased equipment		983		—		—		983
Other revenue		2,125		175		(127)		2,173
Total revenue		71,727		6,346		(127)		77,946
Expenses:
Depreciation and amortization expense		16,540		88		—		16,628
Cost of spare parts and equipment sales		4,705		4,695		—		9,400
Write-down of equipment		12,091		918		—		13,009
General and administrative		12,414		787		—		13,201
Technical expense		2,292		—		—		2,292
Net finance costs		10,865		—		—		10,865
Total expenses		58,907		6,488		—		65,395
Earnings (loss) from operations	$	12,820	$	(142)	$	(127)	$	12,551
	Leasing and
For the three months ended March 31, 2016	Related Operations		Spare Parts Sales		Eliminations (1)		Total
Revenue:
Lease rent revenue	$	28,276	$	—	$	—	$	28,276
Maintenance reserve revenue		15,819		—		—		15,819
Spare parts sales		—		2,632		—		2,632
Gain on sale of leased equipment		2,992		—		—		2,992
Other revenue		933		358		(291)		1,000
Total revenue		48,020		2,990		(291)		50,719
Expenses:
Depreciation and amortization expense		16,337		82		—		16,419
Cost of spare parts sales		—		1,932		—		1,932
Write-down of equipment		2,036		—		—		2,036
General and administrative		10,980		772		—		11,752
Technical expense		1,696		—		—		1,696
Net finance costs		9,913		95		—		10,008
Total expenses		40,962		2,881		—		43,843
Earnings from operations	$	7,058	$	109	$	(291)	$	6,876
(1) Represents revenue generated between our operating segments
Total assets as of March 31, 2017	$	1,293,122	$	29,867	$	—	$	1,322,989
Total assets as of December 31, 2016	$	1,307,460	$	30,427	$	—	$	1,337,887