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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
2 Months Ended 3 Months Ended 9 Months Ended
Aug. 31, 2020
Aug. 31, 2019
Nov. 30, 2020
Nov. 30, 2019
Nov. 30, 2020
Nov. 30, 2019
Revenues:            
Lease rental revenue $ 93,891 $ 136,156 $ 139,493 $ 199,847 $ 473,566 $ 588,141
Direct financing and sales-type lease revenue 3,208 5,543 4,839 7,760 14,903 24,407
Amortization of lease premiums, discounts and incentives (3,544) (3,835) (5,384) (5,819) (17,360) (17,077)
Total lease revenue 112,713 137,220 163,791 217,148 592,617 651,278
Gain (loss) on sale of flight equipment (185) 4,448 12,951 26,512 24,181 39,134
Total revenues 113,547 143,944 180,911 248,875 634,760 699,782
Operating expenses:            
Depreciation 57,993 60,703 86,845 90,737 262,806 269,689
Interest, net 37,355 44,071 59,945 63,204 173,996 194,952
Selling, general and administrative (including non-cash share-based payment expense of $0 and $2,283 for the two months ended August 31, 2020 and 2019, $0 and $3,209 for the three months ended November 30, 2020 and 2019, and $28,049 and $9,793 for the nine months ended November 30, 2020 and 2019, respectively) 8,249 11,999 15,145 18,389 76,152 55,060
Impairment of flight equipment 9,596 0 9,867 0 299,551 7,404
Maintenance and other costs 2,544 2,911 4,207 6,696 14,044 18,744
Total operating expenses 115,737 119,684 176,009 179,026 826,549 545,849
Gain (Loss) on Extinguishment of Debt 0 (7,577) (43) 0 (108) (7,577)
Merger Expenses 67 0 (450) (3,044) (32,492) (3,044)
Other expense:            
Other (173) (193) 0 (198) (191) (3,987)
Nonoperating Income (Expense) (106) (7,770) (493) (3,242) (32,791) (14,608)
Income (loss) from continuing operations before income taxes and earnings of unconsolidated equity method investments (2,296) 16,490 4,409 66,607 (224,580) 139,325
Income tax provision 9,325 1,283 2,269 7,659 14,738 17,280
Earnings of unconsolidated equity method investments, net of tax 426 1,160 572 601 1,978 2,281
Net income (loss) (11,195) 16,367 2,712 59,549 (237,340) 124,326
Comprehensive Income (Loss), Net of Tax, Attributable to Parent (11,195) 16,367 2,712 59,549 (237,340) 124,326
Maintenance revenue            
Revenues:            
Revenues from contracts with customers 19,158 (644) 24,843 15,360 121,508 55,807
Other revenue            
Revenues:            
Revenues from contracts with customers $ 1,019 $ 2,276 $ 4,169 $ 5,215 $ 17,962 $ 9,370