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v3.6.0.2

Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended
--- | ---
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014
Cash flows from operating activities: |  |  |
Net income | $ 14,069 | $ 6,460 | $ 7,180
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |
Depreciation and amortization expense | 66,280 | 69,424 | 65,314
Write-down of equipment | 9,514 | 9,181 | 5,602
Stock-based compensation expenses | 3,717 | 4,150 | 3,509
Amortization of deferred costs | 4,271 | 4,307 | 4,319
Amortization of interest rate derivative cost |  |  | (499)
Allowances and provisions | (571) | 697 | (81)
Gain on sale of leased equipment | (3,482) | (8,320) | (5,882)
Income from joint ventures | (1,813) | (1,175) | (1,329)
Loss (gain) on extinguishment of debt | 137 | (1,151) |
Deferred income taxes | 9,100 | 6,027 | 4,110
Changes in assets and liabilities: |  |  |
Receivables | (2,287) | (5,769) | 4,812
Spare parts inventory | (5,093) | 3,828 | (5,964)
Intangibles | (1,511) |  |
Other assets | (1,707) | (2,635) | (590)
Accounts payable and accrued expenses | 2,329 | 1,677 | (1,998)
Restricted cash | 10,728 | 9,636 | (6,831)
Maintenance reserves | 548 | 4,580 | (10,861)
Security deposits | (4,048) | 5,747 | 1,158
Unearned lease revenue | 732 | 748 | 793
Net cash provided by operating activities | 100,913 | 107,412 | 62,762
Cash flows from investing activities: |  |  |
Proceeds from sale of equipment (net of selling expenses) | 62,525 | 41,608 | 43,632
Restricted cash for investing activities | (1,345) | (16,763) | 6,366
Capital contribution to joint ventures | (5,545) | (630) | (17,623)
Distributions received from joint ventures | 1,167 | 1,304 | 847
Maintenance rights payments received |  | 5,802 |
Purchase of equipment held for operating lease and for sale | (173,662) | (174,772) | (119,008)
Purchase of maintenance rights | (5,530) | (8,844) | (9,098)
Purchase of property, equipment and furnishings | (1,006) | (3,988) | (13,831)
Net cash used in investing activities | (123,396) | (156,283) | (108,715)
Cash flows from financing activities: |  |  |
Proceeds from issuance of notes payable | 149,000 | 192,700 | 154,395
Debt issuance cost | (3,808) | (13) | (5,074)
Interest bearing security deposit | 455 | (1,606) | 4,553
Proceeds from shares issued under stock compensation plans | 155 | 518 | 410
Cancellation of restricted stock units in satisfaction of withholding tax | (1,369) | (1,558) | (1,544)
Repurchase of common stock | (28,958) | (16,500) | (5,352)
Excess tax benefit from stock-based compensation | 236 | 26 | 311
Proceeds from issuance of preferred stock | 19,752 |  |
Principal payments on notes payable | (113,981) | (153,816) | (101,054)
Restricted cash from financing activities | 1,345 | 25,359 |
Net cash provided by (used in) financing activities | 22,827 | 45,110 | 46,645
Increase/(Decrease) in cash and cash equivalents | 344 | (3,761) | 692
Cash and cash equivalents at beginning of period | 9,732 | 13,493 | 12,801
Cash and cash equivalents at end of period | 10,076 | 9,732 | 13,493
Net cash paid for: |  |  |
Interest | 37,319 | 35,568 | 33,132
Income Taxes | 459 | 353 | 210
Supplemental disclosures of non-cash investing activities: |  |  |
Purchase of aircraft and engines, liability incurred but not paid | 5,337 | 4,662 | 8,188
Engines and equipment, transferred from Held for Operating Lease to Held for Sale but not settled | 28,560 | 22,079 | 3,071
Equipment held for sale, transferred to spare parts inventory | 0 | $ 6,061 | $ 9,649
Transfer from property, equipment and furnishings to assets held for lease | 2,925 |  |
Temporary Equity, Dividends, Adjustment | 281 |  |
Temporary Equity, Accretion to Redemption Value, Adjustment | $ 8 |  |

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- Definition The cash outflow to reacquire common stock during the period. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 15 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66902209&loc=d3e3291-108585 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Financing Activities -URI http://asc.fasb.org/extlink&oid=6513228 + Details
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- Definition The cash outflow paid to third parties in connection with debt origination, which will be amortized over the remaining maturity period of the associated long-term debt. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 15 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=66902209&loc=d3e3291-108585 + Details
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- Definition Amount of cash outflow to satisfy an employee's income tax withholding obligation as part of a net-share settlement of a share-based award. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 15 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66902209&loc=d3e3291-108585 + Details
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- Definition The cash outflow for payments to acquire rented equipment which is recorded as an asset. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 13 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=66902209&loc=d3e3213-108585 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Investing Activities -URI http://asc.fasb.org/extlink&oid=6516133 + Details
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- Definition The cash outflow associated with the investment in or advances to an entity in which the reporting entity shares control of the entity with another party or group. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 13 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=66902209&loc=d3e3213-108585 + Details
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- Definition The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Investing Activities -URI http://asc.fasb.org/extlink&oid=6516133 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 13 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=66902209&loc=d3e3213-108585 + Details
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- Definition Cash dividends or other distributions received from unconsolidated subsidiaries, certain corporate joint ventures, and certain noncontrolled corporations that are returns of capital. Excludes dividends or distributions from equity method investments classified as operating activities. + References No definition available. + Details
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- Definition The cash inflow from a debt initially having maturity due after one year or beyond the operating cycle, if longer. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 14 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=66902209&loc=d3e3255-108585 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Financing Activities -URI http://asc.fasb.org/extlink&oid=6513228 + Details
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- Definition The cash inflow from issuance of callable preferred stock which is identified as being convertible to another type of financial security at the option of the issuer or the holder. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 14 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66902209&loc=d3e3255-108585 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Financing Activities -URI http://asc.fasb.org/extlink&oid=6513228 + Details
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- Definition The cash inflow associated with the amount received from holders to acquire the entity's shares under incentive and share awards other than stock option exercises. This item inherently excludes any excess tax benefit, which the entity may have realized and reported separately. + References No definition available. + Details
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- Definition The cash inflow from sale of machinery and equipment. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Investing Activities -URI http://asc.fasb.org/extlink&oid=6516133 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 12 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=66902209&loc=d3e3179-108585 + Details
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- Definition Nonrecurring impairment charges related to the write-off of production-related equipment and inventory. This tag is used when an Entity charges this cost to cost of goods sold. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.2(a)) -URI http://asc.fasb.org/extlink&oid=63488584&loc=d3e20235-122688 + Details
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- Definition Amount of expense related loan transactions, lease transactions, credit loss from transactions other than loan and lease transactions, and other loss based on assessment of uncollectability from the counterparty to reduce the account to their net realizable value. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 11B -Subparagraph (c)(2) -URI http://asc.fasb.org/extlink&oid=66008989&loc=SL6953423-111524 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 225 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04.11) -URI http://asc.fasb.org/extlink&oid=6879574&loc=d3e536633-122882 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66902209&loc=d3e3602-108585 + Details
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- Definition The cash outflow for debt initially having maturity due after one year or beyond the normal operating cycle, if longer. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 15 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=66902209&loc=d3e3291-108585 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Financing Activities -URI http://asc.fasb.org/extlink&oid=6513228 + Details
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- Definition The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66902209&loc=d3e3602-108585 + Details
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- Definition Amount of decrease to net income for accretion of temporary equity to its redemption value to derive net income apportioned to common stockholders. + References No definition available. + Details
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- Definition Value of loans and leases held in the entity's portfolio transferred to loans and leases held-for-sale in noncash transactions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6367179&loc=d3e4304-108586 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6367179&loc=d3e4332-108586 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6367179&loc=d3e4313-108586 + Details
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