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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Aug. 31, 2024
Aug. 31, 2023
Aug. 31, 2024
Aug. 31, 2023
Revenues:        
Lease rental revenue $ 162,379 $ 150,351 $ 324,949 $ 297,086
Direct financing and sales-type lease revenue 5,426 5,085 10,883 6,158
Amortization of lease premiums, discounts and incentives (6,068) (7,124) (12,717) (14,331)
Maintenance revenue 19,378 15,046 61,527 49,566
Total lease revenue 181,115 163,358 384,642 338,479
Gain on sale or disposition of flight equipment 35,416 4,453 36,426 47,047
Other revenue 137 145 773 921
Total revenues 216,668 167,956 421,841 386,447
Operating expenses:        
Depreciation 87,675 86,328 177,033 175,117
Interest, net 62,424 57,035 127,237 113,926
Selling, general and administrative 20,090 18,882 42,145 39,717
Provision for credit losses 426 (834) 281 6,125
Impairment of flight equipment 5,761 1,100 10,972 2,197
Maintenance and other costs 4,096 8,854 8,539 17,387
Total operating expenses 180,472 171,365 366,207 354,469
Other income:        
Gain on extinguishment of debt 285 0 285 0
Other 726 3,372 422 4,709
Total other income 1,011 3,372 707 4,709
Income (loss) from continuing operations before income taxes and earnings of unconsolidated equity method investment 37,207 (37) 56,341 36,687
Income tax provision (benefit) 9,028 (5,099) 12,600 9,261
Earnings of unconsolidated equity method investment, net of tax 480 456 999 862
Net income 28,659 5,518 44,740 28,288
Net income (loss) available to common shareholders 18,159 (4,982) 34,240 17,788
Preference share dividends (10,500) (10,500) (10,500) (10,500)
Total comprehensive income (loss) available to common shareholders $ 18,159 $ (4,982) $ 34,240 $ 17,788