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Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Leasing revenues:        
Operating leases $ 363,787 $ 358,997 $ 1,060,968 $ 1,089,349
Finance leases 27,532 25,904 80,625 79,814
Total leasing revenues 391,319 384,901 1,141,593 1,169,163
Equipment trading revenues 11,493 34,996 35,610 80,524
Equipment trading expenses (10,440) (30,488) (32,258) (73,033)
Trading margin 1,053 4,508 3,352 7,491
Net gain (loss) on sale of leasing equipment 17,435 12,318 (6,061) 49,401
Operating expenses:        
Depreciation and amortization 134,952 141,438 406,569 436,753
Direct operating expenses 13,527 27,143 53,306 75,221
Administrative expenses 22,862 23,623 68,683 69,884
Transaction and other costs 5,095 68,741 26,746 71,320
Provision (reversal) for doubtful accounts (53) (211) (1,543) (2,768)
Total operating expenses 176,383 260,734 553,761 650,410
Operating income (loss) 233,424 140,993 585,123 575,645
Other (income) expenses:        
Interest and debt expense 67,404 60,073 190,242 176,211
Other (income) expense, net (56) (173) (134) (490)
Total other (income) expenses 67,348 59,900 190,108 175,721
Income (loss) before income taxes 166,076 81,093 395,015 399,924
Income tax expense (benefit) 15,423 11,392 41,383 38,648
Net income (loss) 150,653 69,701 353,632 361,276
Less: dividends on preferred shares 13,028 13,028 39,084 39,084
Net income (loss) attributable to common shareholder $ 137,625 $ 56,673 $ 314,548 $ 322,192