XML 38 R27.htm IDEA: XBRL DOCUMENT v3.4.0.3
Subsequent Events
3 Months Ended
Mar. 31, 2016
Subsequent Events [Abstract]  
Subsequent Events
Subsequent Events
In April 2016, Cowen Aviation Finance Holdings Inc. ("Cowen Aviation Finance") completed the financing for one aircraft that was acquired during the first quarter of 2016 with such financing completed based on a 75% loan to purchase price of the aircraft.  In addition, in April 2016, Cowen Aviation Finance received a contribution of four additional specialized aircraft currently on lease to government agencies in exchange for making an upfront payment and issuing a minority equity interest in Cowen Aviation Finance to the seller of the aircraft.  In connection with the contribution of the aircraft, Cowen Aviation Finance entered into services agreements with Tempus Applied Solutions, Inc., which has two of the Company's directors on its board of directors.
On April 27, 2016, the Company's Board of Directors approved a $3.6 million increase in the Company's share repurchase program (see Note 13) bringing the total value of remaining shares available for repurchase to $25.0 million.
The Company has evaluated events that have occurred after the balance sheet date but before the financial statements are issued and has determined that there were no additional subsequent events requiring adjustment or disclosure in the condensed consolidated financial statements.