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v3.8.0.1

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 3 Months Ended
--- | ---
Mar. 31, 2018 | Mar. 31, 2017
Cash flows from operating activities: |  |
Net income | $ 7,082 | $ 8,167
Adjustments to reconcile net income to net cash provided by operating activities: |  |
Depreciation and amortization expense | 17,355 | 16,628
Write-down of equipment |  | 12,091
Stock-based compensation expenses | 925 | 874
Amortization of deferred costs | 1,433 | 1,198
Allowances and provisions | 242 | 563
Gain on sale of leased equipment | (640) | (983)
Income from joint ventures | (747) | (1,854)
Deferred income taxes | 2,300 | 6,181
Changes in assets and liabilities: |  |
Receivables | (6,026) | 4,150
Spare parts inventory | (2,944) | 968
Other assets | 284 | (791)
Accounts payable and accrued expenses | (484) | 3,834
Maintenance reserves | 9,389 | (4,340)
Security deposits | 1,038 | (160)
Unearned revenue | 1,166 | (580)
Net cash provided by operating activities | 30,373 | 45,946
Cash flows from investing activities: |  |
Proceeds from sale of equipment (net of selling expenses) | 23,309 | 26,711
Deposit received for proposed sale of equipment | 3,400 |
Distributions received from joint ventures |  | 1,880
Purchase of equipment held for operating lease and for sale | (138,626) | (35,304)
Purchase of property, equipment and furnishings | (290) | (199)
Net cash used in investing activities | (112,207) | (6,912)
Cash flows from financing activities: |  |
Proceeds from issuance of notes payable | 123,000 | 18,000
Principal payments on notes payable | (29,779) | (46,847)
Proceeds from shares issued under stock compensation plans | 118 | 94
Repurchase of common stock | (74) | (884)
Preferred stock dividends | (917) | (305)
Payments of tax withholdings for stock-based awards | (665) | (270)
Net cash provided by (used in) financing activities | 91,683 | (30,212)
Increase in cash, cash equivalents and restricted cash | 9,849 | 8,822
Cash, cash equivalents and restricted cash at beginning of period | 47,324 | 32,374
Cash, cash equivalents and restricted cash at end of period | 57,173 | 41,196
Net cash paid for: |  |
Interest | 12,187 | 9,485
Income Taxes | 71 | 75
Supplemental disclosures of non-cash investing activities: |  |
Purchase of aircraft and engines | 3,762 | 623
Transfers from Equipment held for operating lease to Equipment held for sale | 7,889 | 37,883
Transfers from Equipment held for sale to Spare parts inventory | 5,345 |
Transfers from Property, equipment and furnishings to Equipment held for lease |  | $ 2,925
Accrued preferred stock dividends | 667 |
Accrued share repurchases | $ 10,109 |

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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 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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- Definition Accrued Preferred Stock Dividends + References No definition available. + Details
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- Definition The amount of accrued share repurchases. + References No definition available. + Details
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- Definition Amount of cash and cash equivalents, and cash and cash equivalents restricted to withdrawal or usage. Excludes amount for disposal group and discontinued operations. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. + References No definition available. + Details
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- Definition Amount of increase (decrease) in cash, cash equivalents, and cash and cash equivalents restricted to withdrawal or usage; including effect from exchange rate change. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. + References No definition available. + Details
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- Definition Represents the value of inventory transferred from equipment held for sale to spare parts inventory. + References No definition available. + Details
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- Definition Amount of increase (decrease) in obligation to transfer good or service to customer for which consideration has been received or is receivable. + References No definition available. + Details
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- Definition A liability for future maintenance events that have a refundable aspect contingent on return conditions. + References No definition available. + Details
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- References No definition available. + Details
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- Definition The cash inflow from deposit received for proposed sale of equipment. + References No definition available. + Details
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- Definition Value of equipment transferred to assets held for sale. + References No definition available. + Details
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