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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2017
Income Taxes |
Schedule of components of income (loss) from continuing operation before income taxes |
|  | Years ended December 31, |
|  | 2017 |  | 2016 |  | 2015 |
|  | (in thousands) |
United States |  | $ | 35,050 |  | $ | 21,634 |  | $ | 11,319 |
Foreign |  |  | 961 |  |  | 2,312 |  |  | 1,456 |
Income before income taxes |  | $ | 36,011 |  | $ | 23,946 |  | $ | 12,775 |
Schedule of components of income tax expense |
|  | Federal |  | State |  | Foreign |  | Total |
|  | (in thousands) |
2017 |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | $ | (58) |  | $ | 284 |  | $ | 20 |  | $ | 246 |
Deferred |  |  | (31,198) |  |  | 4,805 |  |  | — |  |  | (26,393) |
Total |  | $ | (31,256) |  | $ | 5,089 |  | $ | 20 |  | $ | (26,147) |
2016 |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | $ | 324 |  | $ | 14 |  | $ | 440 |  | $ | 778 |
Deferred |  |  | 8,807 |  |  | 292 |  |  | — |  |  | 9,099 |
Total |  | $ | 9,131 |  | $ | 306 |  | $ | 440 |  | $ | 9,877 |
2015 |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | $ | (208) |  | $ | 13 |  | $ | 476 |  | $ | 281 |
Deferred |  |  | 4,871 |  |  | 1,163 |  |  | — |  |  | 6,034 |
Total |  | $ | 4,663 |  | $ | 1,176 |  | $ | 476 |  | $ | 6,315 |
Schedule of reconciliation of the federal income tax expense at the statutory rate to the effective income tax expense |
|  | Years Ended December 31, |
|  | 2017 |  | 2016 |  | 2015 |
|  | (in thousands) |
Statutory federal income tax expense |  | $ | 12,244 |  | $ | 8,142 |  | $ | 4,343 |
State taxes, net of federal benefit |  |  | 3,360 |  |  | 202 |  |  | 776 |
Foreign tax paid |  |  | 20 |  |  | 440 |  |  | 476 |
Change in federal tax rate |  |  | (43,643) |  |  | — |  |  | — |
Tax consequences of the sale of engines to WMES |  |  | 164 |  |  | — |  |  | (306) |
Uncertain tax positions |  |  | — |  |  | (40) |  |  | (195) |
Permanent differences-nondeductible executive compensation |  |  | 1,238 |  |  | 1,201 |  |  | 1,117 |
Permanent differences and other |  |  | 470 |  |  | (68) |  |  | 104 |
Effective income tax (benefit) expense |  | $ | (26,147) |  | $ | 9,877 |  | $ | 6,315 |
Summary of activity related to the Company's unrecognized tax benefits |
|  | (in thousands) |
Balance as of December 31, 2014 |  | $ | 464 |
Increases related to current year tax positions |  |  | 5 |
Decreases due to tax positions released |  |  | (195) |
Balance as of December 31, 2015 |  |  | 274 |
Increases related to current year tax positions |  |  | 4 |
Decreases due to tax positions released |  |  | (72) |
Balance as of December 31, 2016 |  |  | 206 |
Increases related to current year tax positions |  |  | 4 |
Decreases due to tax positions expired |  |  | (19) |
Balance as of December 31, 2017 |  | $ | 191 |
Schedule of tax effects of temporary differences of the deferred tax assets and liabilities |
|  | As of December 31, |
|  | 2017 |  | 2016 |
|  | (in thousands) |
Deferred tax assets: |  |  |  |  |  |  |
Unearned lease revenue |  | $ | 1,754 |  | $ | 1,839 |
State taxes |  |  | 1,653 |  |  | 1,035 |
Reserves and allowances |  |  | 2,531 |  |  | 1,659 |
Other accruals |  |  | 643 |  |  | 2,501 |
Alternative minimum tax credit |  |  | — |  |  | 335 |
Foreign tax credit |  |  | 42 |  |  | 42 |
Net operating loss carry forward |  |  | 29,874 |  |  | 35,693 |
Charitable contributions |  |  | 22 |  |  | 52 |
Total deferred tax assets |  |  | 36,519 |  |  | 43,156 |
Less: valuation allowance |  |  | (806) |  |  | (1,280) |
Net deferred tax assets |  |  | 35,713 |  |  | 41,876 |
Deferred tax liabilities: |  |  |  |  |  |  |
Depreciation and impairment on aircraft engines and equipment |  |  | (114,347) |  |  | (147,827) |
Other deferred tax assets (liabilities) |  |  | 437 |  |  | 422 |
Net deferred tax liabilities |  |  | (113,910) |  |  | (147,405) |
Other comprehensive loss deferred tax asset |  |  | (83) |  |  | 551 |
Net deferred tax liabilities |  | $ | (78,280) |  | $ | (104,978) |

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