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CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenues        
Total revenues $ 465,794 $ 291,096 $ 1,236,082 $ 858,159
Expenses        
Cost of sales 219,496 116,707 568,157 366,909
Operating expenses 26,858 33,887 81,274 81,218
General and administrative 4,045 3,015 10,697 10,270
Acquisition and transaction expenses 9,341 4,261 23,539 10,195
Management fees and incentive allocation to affiliate 0 4,577 8,449 13,137
Internalization fee to affiliate 0 0 300,000 0
Depreciation and amortization 56,775 43,959 163,386 123,399
Asset impairment 0 0 962 1,220
Total expenses 316,515 206,406 1,156,464 606,348
Other (expense) income        
Equity in (losses) earnings of unconsolidated entities (438) 46 (1,799) (1,669)
Interest expense (57,937) (40,185) (160,840) (117,976)
Loss on extinguishment of debt 0 0 (13,920) 0
Other income 2,909 461 3,045 877
Total other income (expense) (55,466) (39,678) (173,514) (118,768)
Income (loss) before income taxes 93,813 45,012 (93,896) 133,043
Provision for (benefit from) income taxes 7,331 3,705 (130) 7,586
Net income (loss) 86,482 41,307 (93,766) 125,457
Less: Dividends on preferred shares 8,335 8,334 25,005 23,460
Net income (loss) attributable to shareholders $ 78,147 $ 32,973 $ (118,771) $ 101,997
Earnings (loss) per share:        
Basic (in dollars per share) $ 0.76 $ 0.33 $ (1.17) $ 1.02
Diluted (in dollars per share) $ 0.76 $ 0.33 $ (1.17) $ 1.02
Weighted average shares outstanding:        
Basic (in shares) 102,380,659 99,927,594 101,199,356 99,796,736
Diluted (in shares) 103,395,348 100,482,309 101,199,356 100,269,203
Lease income        
Revenues        
Total revenues $ 65,450 $ 45,622 $ 189,365 $ 161,141
Maintenance revenue        
Revenues        
Total revenues 59,917 63,925 156,894 141,131
Other (expense) income        
Net income (loss) attributable to shareholders     (118,771)  
Asset sales revenue        
Revenues        
Total revenues 34,953 61,400 145,993 246,927
Aerospace products revenue        
Revenues        
Total revenues 303,469 118,675 737,726 296,513
Other revenue        
Revenues        
Total revenues $ 2,005 $ 1,474 $ 6,104 $ 12,447