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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash flows from operating activities:    
Net income $ 25,117 $ 19,449
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 55,600 48,786
Write-down of equipment 4,793 19,668
Stock-based compensation expenses 4,004 3,228
Amortization of deferred costs 4,143 3,639
Allowances and provisions 1,022 282
Gain on sale of leased equipment (2,142) (4,684)
Gain on insurance settlement   (1,288)
Income from joint ventures (1,569) (6,055)
Deferred income taxes 9,359 13,367
Changes in assets and liabilities:    
Receivables (6,951) (220)
Distributions received from joint ventures 5,540 1,880
Spare parts inventory (27,537) 7,021
Other assets (3,173) (1,692)
Accounts payable and accrued expenses 13,472 (687)
Maintenance reserves 16,431 1,706
Security deposits 3,519 6,651
Unearned revenue (838) 990
Net cash provided by operating activities 100,790 112,041
Cash flows from investing activities:    
Proceeds from sale of equipment (net of selling expenses) 51,600 53,849
Distributions received from joint ventures 190  
Purchase of equipment held for operating lease (320,186) (177,263)
Purchase of property, equipment and furnishings (1,574) (493)
Net cash used in investing activities (269,970) (123,907)
Cash flows from financing activities:    
Proceeds from issuance of debt obligations 616,439 485,700
Debt issuance cost (6,068) (7,473)
Principal payments on debt obligations (306,800) (448,237)
Interest bearing security deposits   (3,261)
Proceeds from shares issued under stock compensation plans 292 177
Cancellation of restricted stock units in satisfaction of withholding tax (1,252) (747)
Repurchase of common stock (14,459) (3,546)
Proceeds from the issuance of preferred stock   29,700
Preferred stock dividends (2,440) (891)
Net cash provided by financing activities 285,712 51,422
(Decrease)/Increase in cash, cash equivalents and restricted cash 116,532 39,556
Cash, cash equivalents and restricted cash at beginning of period 47,324 32,374
Cash, cash equivalents and restricted cash at end of period 163,856 71,930
Net cash paid for:    
Interest 44,990 31,932
Income Taxes 1,074 346
Supplemental disclosures of non-cash activities:    
Purchase of aircraft and engines 3,600 2,931
Transfers from Equipment held for operating lease to Equipment held for sale 6,995 36,285
Accrued preferred stock dividends $ 819 $ 988