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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash flows from operating activities:    
Net income $ 8,167 $ 4,011
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 16,628 16,419
Write-down of equipment 13,009 2,036
Stock-based compensation expenses 874 944
Amortization of deferred costs 1,198 1,071
Allowances and provisions 563 209
Gain on sale of leased equipment (983) (2,992)
Income from joint ventures (1,854) (187)
Excess tax benefit from stock-based compensation   55
Deferred income taxes 6,181 2,888
Changes in assets and liabilities:    
Receivables 4,150 (2,273)
Spare parts inventory 50 1,532
Other assets (791) (165)
Accounts payable and accrued expenses 3,834 (282)
Maintenance reserves (4,340) (5,500)
Security deposits (160) 64
Unearned lease revenue (580) (739)
Net cash provided by operating activities 45,946 17,091
Cash flows from investing activities:    
Proceeds from sale of equipment (net of selling expenses) 26,711 52,488
Capital contribution to joint ventures   (4,610)
Distributions received from joint ventures 1,880 1,167
Maintenance rights payments received   4,634
Purchase of equipment held for operating lease (35,304) (44,433)
Purchase of maintenance rights   (4,634)
Purchase of property, equipment and furnishings (199) (70)
Net cash provided by ( used in) investing activities (6,912) 4,542
Cash flows from financing activities:    
Proceeds from issuance of notes payable 18,000 20,000
Proceeds from shares issued under stock compensation plans 94 82
Cancellation of restricted stock units in satisfaction of withholding tax (270) (424)
Repurchase of common stock (884) (4,453)
Preferred stock dividends (305)  
Principal payments on notes payable (46,847) (36,889)
Net cash used in financing activities (30,212) (21,684)
Increase (Decrease) in cash and cash equivalents 8,822 (51)
Cash, cash equivalents and restricted cash at beginning of period 32,374 42,758
Cash, cash equivalents and restricted cash at end of period 41,196 42,707
Net cash paid for:    
Interest 9,485 8,753
Income Taxes 75 5
Supplemental disclosures of non-cash investing activities:    
Purchase of aircraft and engines, liability incurred but not paid 623 6,778
Engines and equipment, transferred from Held for Operating Lease to Held for Sale but not settled 37,883 $ 12,806
Transfer from property, equipment and furnishings to assets held for lease $ 2,925