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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2015
Income Taxes |
Schedule of components of income (loss) from continuing operation before income taxes |
|  | Years ended December 31, |
|  | 2015 |  | 2014 |  | 2013 |
|  | (in thousands) |
U.S. |  | $ | 12,688 |  | $ | 10,535 |  | $ | 10,408 |
Non U.S. |  |  | 1,456 |  |  | 1,307 |  |  | 892 |
Income from continuing operations before income taxes |  | $ | 14,144 |  | $ | 11,842 |  | $ | 11,300 |
Schedule of components of income tax expense |
|  | Federal |  | State |  | Foreign |  | Total |
|  | (in thousands) |
December 31, 2015 |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | $ | (208) |  | $ | 13 |  | $ | 476 |  | $ | 281 |
Deferred |  |  | 5,332 |  |  | 1,175 |  |  | — |  |  | 6,507 |
Total 2015 |  | $ | 5,124 |  | $ | 1,188 |  | $ | 476 |  | $ | 6,788 |
December 31, 2014 |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | $ | 109 |  | $ | 179 |  | $ | 311 |  | $ | 599 |
Deferred |  |  | 3,832 |  |  | 164 |  |  | — |  |  | 3,996 |
Total 2014 |  | $ | 3,941 |  | $ | 343 |  | $ | 311 |  | $ | 4,595 |
December 31, 2013 |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | $ | (155) |  | $ | 123 |  | $ | 95 |  | $ | 63 |
Deferred |  |  | (3,755) |  |  | (634) |  |  | — |  |  | (4,389) |
Total 2013 |  | $ | (3,910) |  | $ | (511) |  | $ | 95 |  | $ | (4,326) |
Schedule of reconciliation of the federal income tax expense at the statutory rate to the effective income tax expense |
|  | Years Ended December 31, |
|  | 2015 |  | 2014 |  | 2013 |
|  | (in thousands and % of pre-tax income) |
|  | $ |  | % |  | $ |  | % |  | $ |  | % |
Statutory federal income tax expense |  |  | 4,809 |  | 34.0 |  |  | 4,027 |  | 34.0 |  |  | 3,842 |  | 34.0 |
State taxes, net of federal benefit |  |  | 784 |  | 5.5 |  |  | 117 |  | 1.0 |  |  | (338) |  | (3.0) |
Foreign tax paid |  |  | 476 |  | 3.4 |  |  | 101 |  | 0.9 |  |  | 95 |  | 0.8 |
Tax consequences of the sale of engines to WMES |  |  | (306) |  | (2.1) |  |  | (36) |  | (0.3) |  |  | (36) |  | (0.3) |
Uncertain tax positions |  |  | (195) |  | (1.4) |  |  | (101) |  | (0.9) |  |  | 160 |  | 1.4 |
Permanent differences-nondeductible executive compensation |  |  | 1,117 |  | 7.9 |  |  | 768 |  | 6.5 |  |  | 732 |  | 6.5 |
ETI basis restoration |  |  | — |  | — |  |  | — |  | — |  |  | (8,728) |  | (77.2) |
Permanent differences and other |  |  | 103 |  | 0.7 |  |  | (281) |  | (2.4) |  |  | (53) |  | (0.5) |
Effective income tax expense (benefit) |  |  | 6,788 |  | 48.0 |  |  | 4,595 |  | 38.8 |  |  | (4,326) |  | (38.3) |
Summary of activity related to the Company's unrecognized tax benefits |
|  | (in thousands) |
Balance as of December 31, 2013 |  | $ | 566 |
Increases related to current year tax positions |  |  | 109 |
Decreases due to tax positions released |  |  | (211) |
Balance as of December 31, 2014 |  |  | 464 |
Increases related to current year tax positions |  |  | 5 |
Decreases due to tax positions expired |  |  | (195) |
Balance as of December 31, 2015 |  | $ | 274 |
Schedule of tax effects of temporary differences of the deferred tax assets and liabilities |
|  | As of December 31, |
|  | 2015 |  | 2014 |
|  | (in thousands) |
Deferred tax assets: |  |  |  |  |  |  |
Unearned lease revenue |  | $ | 1,511 |  | $ | 1,368 |
State taxes |  |  | 944 |  |  | 564 |
Reserves and allowances |  |  | 898 |  |  | 938 |
Other accruals |  |  | 1,767 |  |  | 582 |
Alternative minimum tax credit |  |  | 377 |  |  | 377 |
Net operating loss carry forward |  |  | 35,827 |  |  | 37,173 |
Charitable contributions |  |  | 42 |  |  | 28 |
Total deferred tax assets |  |  | 41,366 |  |  | 41,030 |
Less: valuation allowance |  |  | (1,280) |  |  | (1,310) |
Net deferred tax assets |  |  | 40,086 |  |  | 39,720 |
Deferred tax liabilities: |  |  |  |  |  |  |
Depreciation and impairment on aircraft engines and equipment |  |  | (138,084) |  |  | (129,332) |
Other deferred tax assets (liabilities) |  |  | 981 |  |  | (898) |
Net deferred tax liabilities |  |  | (137,103) |  |  | (130,230) |
Other comprehensive loss deferred tax asset |  |  | 275 |  |  | — |
Net deferred tax liabilities |  | $ | (96,742) |  | $ | (90,510) |

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