XML 42 R26.htm IDEA: XBRL DOCUMENT
v3.3.1.900

Operating Segments | 12 Months Ended
--- | ---
Dec. 31, 2015
Operating Segments |
Operating Segments | (18) Operating Segments The Company operates in two business segments: (i) Leasing and Related Operations which involves acquiring and leasing, primarily pursuant to operating leases, commercial aircraft, aircraft engines and other aircraft equipment and the selective purchase and resale of commercial aircraft engines and other aircraft equipment and (ii) Spare Parts Sales which involves the purchase and resale of after-market engine and airframe parts, whole engines, engine modules and portable aircraft components and leasing of engines destined for disassembly and sale of parts. The Company evaluates the performance of each of the segments based on profit or loss after general and administrative expenses and inter-company allocation of interest expense. While the Company believes there are synergies between the two business segments, the segments are managed separately because each requires different business strategies. The following tables present a summary of the operating segments (amounts in thousands):
|  | Leasing and |  |  |  |  |  |  |  |  |
For the year ended December 31, 2015 |  | Related Operations |  | Spare Parts Sales |  | Eliminations (1) |  | Total
Revenue: |  |  |  |  |  |  |  |  |  |  |  |
Lease rent revenue |  | $ | 107,866 |  | $ | — |  | $ | — |  | $ | 107,866
Maintenance reserve revenue |  |  | 55,064 |  |  | — |  |  | — |  |  | 55,064
Spare parts and equipment sales |  |  | 9,975 |  |  | 15,633 |  |  | — |  |  | 25,608
Gain on sale of leased equipment |  |  | 8,354 |  |  | — |  |  | — |  |  | 8,354
Other revenue |  |  | 2,517 |  |  | 659 |  |  | (458) |  |  | 2,718
Total revenue |  |  | 183,776 |  |  | 16,292 |  |  | (458) |  |  | 199,610
Expenses: |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization expense |  |  | 69,299 |  |  | 287 |  |  | — |  |  | 69,586
Cost of spare parts and equipment sales |  |  | 5,734 |  |  | 12,132 |  |  | — |  |  | 17,866
General and administrative |  |  | 39,974 |  |  | 2,770 |  |  | — |  |  | 42,744
Net finance costs |  |  | 37,474 |  |  | 387 |  |  | — |  |  | 37,861
Other expense |  |  | 18,584 |  |  | — |  |  | — |  |  | 18,584
Total expenses |  |  | 171,065 |  |  | 15,576 |  |  | — |  |  | 186,641
Earnings from operations |  | $ | 12,711 |  | $ | 716 |  | $ | (458) |  | $ | 12,969
|  | Leasing and |  |  |  |  |  |  |  |  |
For the year ended December 31, 2014 |  | Related Operations |  | Spare Parts Sales |  | Eliminations (1) |  | Total
Revenue: |  |  |  |  |  |  |  |  |  |  |  |
Lease rent revenue |  | $ | 101,748 |  | $ | — |  | $ | — |  | $ | 101,748
Maintenance reserve revenue |  |  | 53,363 |  |  | — |  |  | — |  |  | 53,363
Spare parts and equipment sales |  |  | — |  |  | 8,917 |  |  | — |  |  | 8,917
Gain on sale of leased equipment |  |  | 5,753 |  |  | — |  |  | — |  |  | 5,753
Other revenue |  |  | 3,581 |  |  | 1,661 |  |  | (736) |  |  | 4,506
Total revenue |  |  | 164,445 |  |  | 10,578 |  |  | (736) |  |  | 174,287
Expenses: |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization expense |  |  | 65,152 |  |  | 289 |  |  | — |  |  | 65,441
Cost of spare parts and equipment sales |  |  | — |  |  | 7,474 |  |  | — |  |  | 7,474
General and administrative |  |  | 33,211 |  |  | 2,648 |  |  | — |  |  | 35,859
Net finance costs |  |  | 36,779 |  |  | 283 |  |  | — |  |  | 37,062
Other expense |  |  | 17,830 |  |  | 108 |  |  | — |  |  | 17,938
Total expenses |  |  | 152,972 |  |  | 10,802 |  |  | — |  |  | 163,774
Earnings (loss) from operations |  | $ | 11,473 |  | $ | (224) |  | $ | (736) |  | $ | 10,513
(1) Represents revenue generated between our operating segments |  |  |  |  |  |  |  |  |  |  |  |
Total assets as of December 31, 2015 |  | $ | 1,281,991 |  | $ | 26,586 |  | $ | — |  | $ | 1,308,577
Total assets as of December 31, 2014 |  | $ | 1,239,227 |  | $ | 22,399 |  | $ | — |  | $ | 1,261,626

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8981-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9038-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8971-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8595-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8984-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9031-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8538-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8864-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8924-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8906-108599 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration