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v3.8.0.1

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended
--- | --- | ---
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015
REVENUE |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Lease rent revenue |  |  |  |  |  |  |  |  |  |  |  |  | $ 130,369 | $ 119,895 | $ 108,046
Maintenance reserve revenue |  |  |  |  |  |  |  |  |  |  |  |  | 80,189 | 57,091 | 53,396
Spare parts and equipment sales |  |  |  |  |  |  |  |  |  |  |  |  | 51,423 | 17,783 | 25,582
Gain on sale of leased equipment |  |  |  |  |  |  |  |  |  |  |  |  | 4,929 | 3,482 | 8,320
Other revenue |  |  |  |  |  |  |  |  |  |  |  |  | 7,930 | 9,023 | 2,718
Total revenue | $ 63,189 | $ 65,861 | $ 67,844 | $ 77,946 | $ 55,476 | $ 51,461 | $ 49,618 | $ 50,719 | $ 55,186 | $ 57,730 | $ 43,810 | $ 41,336 | 274,840 | 207,274 | 198,062
EXPENSES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization expense |  |  |  |  |  |  |  |  |  |  |  |  | 66,023 | 66,280 | 69,424
Cost of spare parts and equipment sales |  |  |  |  |  |  |  |  |  |  |  |  | 40,848 | 13,293 | 17,849
Write-down of equipment |  |  |  |  |  |  |  |  |  |  |  |  | 24,930 | 9,514 | 9,181
General and administrative |  |  |  |  |  |  |  |  |  |  |  |  | 55,737 | 47,780 | 42,744
Technical expense |  |  |  |  |  |  |  |  |  |  |  |  | 9,729 | 6,993 | 9,403
Net finance costs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  | 48,720 | 41,144 | 39,012
Loss (gain) on debt extinguishment |  |  |  |  |  |  |  |  |  |  |  |  |  | (137) | 1,151
Total net finance costs |  |  |  |  |  |  |  |  |  |  |  |  | 48,720 | 41,281 | 37,861
Total expenses |  |  |  |  |  |  |  |  |  |  |  |  | 245,987 | 185,141 | 186,462
Earnings from operations |  |  |  |  |  |  |  |  |  |  |  |  | 28,853 | 22,133 | 11,600
Earnings from joint ventures |  |  |  |  |  |  |  |  |  |  |  |  | 7,158 | 1,813 | 1,175
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  | 36,011 | 23,946 | 12,775
Income tax (benefit) expense |  |  |  |  |  |  |  |  |  |  |  |  | (26,147) | 9,877 | 6,315
Net income |  |  |  |  |  |  |  |  |  |  |  |  | 62,158 | 14,069 | 6,460
Preferred stock dividends |  |  |  |  |  |  |  |  |  |  |  |  | 1,813 | 281 |
Accretion of preferred stock issuance costs |  |  |  |  |  |  |  |  |  |  |  |  | 46 | 8 |
Net income attributable to common shareholders | $ 41,864 | $ 4,939 | $ 5,657 | $ 7,839 | $ 2,418 | $ 3,985 | $ 3,366 | $ 4,011 | $ 3,037 | $ 2,551 | $ (486) | $ 1,358 | $ 60,299 | $ 13,780 | $ 6,460
Basic earnings per common share: (in dollars per share) | $ 6.87 | $ 0.82 | $ 0.94 | $ 1.28 | $ 0.40 | $ 0.63 | $ 0.50 | $ 0.57 | $ 0.39 | $ 0.33 | $ (0.06) | $ 0.17 | $ 9.93 | $ 2.10 | $ 0.83
Diluted earnings per common share: (in dollars per share) | $ 6.75 | $ 0.80 | $ 0.92 | $ 1.25 | $ 0.39 | $ 0.62 | $ 0.49 | $ 0.55 | $ 0.38 | $ 0.32 | $ (0.06) | $ 0.17 | $ 9.69 | $ 2.05 | $ 0.81
Basic weighted average common shares outstanding | 6,090 | 6,055 | 6,036 | 6,114 | 6,149 | 6,307 | 6,685 | 7,149 | 7,739 | 7,839 | 7,841 | 7,848 | 6,074 | 6,570 | 7,817
Diluted average common shares outstanding (in shares) | 6,201 | 6,173 | 6,142 | 6,240 | 6,275 | 6,448 | 6,819 | 7,272 | 7,872 | 7,963 | 7,841 | 8,044 | 6,220 | 6,714 | 7,987

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- Definition Accretion of temporary equity during the period due to cash, stock, and in-kind dividends. This item is an adjustment to net income necessary to derive net income apportioned to common stockholders and is to be distinguished from Temporary Equity, Accretion of Dividends (Temporary Equity, Accretion of Dividends). + References No definition available. + Details
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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 16 -URI http://asc.fasb.org/extlink&oid=64863997&loc=d3e1505-109256 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 + Details
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- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=64863997&loc=d3e1448-109256 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Weighted-Average Number of Common Shares Outstanding -URI http://asc.fasb.org/extlink&oid=6528421 + Details
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- Definition The aggregate cost of spare parts and Equipment sold during the reporting period. + References No definition available. + Details
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- Definition Interest expense, net of interest income and other expenses associated with net financing costs. + References No definition available. + Details
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- Definition Revenue during the period from the sale of spare parts in the normal course of business. + References No definition available. + Details
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