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Reportable Segments (Tables)

6 Months Ended

Jun. 30, 2021

Segment Reporting [Abstract]

Summary of the reportable segments

The following tables present a summary of the reportable segments (in thousands):

Three Months Ended June 30, 2021						Leasing and  Related Operations						Spare Parts Sales						Eliminations						Total
Revenue:
Lease rent revenue						$	32,431					$	—					$	—					$	32,431
Maintenance reserve revenue						17,278						—						—						17,278
Spare parts and equipment sales						84						3,375						110						3,569
Asset transition fee (1)						6,256						—						—						6,256
Other revenue						6,916						41						(19)						6,938
Total revenue						62,965						3,416						91						66,472
Expenses:
Depreciation and amortization expense						23,311						29						—						23,340
Cost of spare parts and equipment sales						2						3,276						—						3,278
Write-down of equipment						2,246						—						—						2,246
General and administrative						19,143						466						(110)						19,499
Technical expense						2,296						—						—						2,296
Net finance costs:
Interest expense						16,987						—						—						16,987
Total finance costs						16,987						—						—						16,987
Total expenses						63,985						3,771						(110)						67,646
(Loss) earnings from operations						$	(1,020)					$	(355)					$	201					$	(1,174)

Three Months Ended June 30, 2020						Leasing and  Related Operations						Spare Parts Sales						Eliminations						Total
Revenue:
Lease rent revenue						$	38,454					$	—					$	—					$	38,454
Maintenance reserve revenue						29,986						—						—						29,986
Spare parts and equipment sales						102						2,753						—						2,855
Loss on sale of leased equipment						(700)						—						—						(700)
Other revenue						4,387						28						(27)						4,388
Total revenue						72,229						2,781						(27)						74,983
Expenses:
Depreciation and amortization expense						23,739						25						—						23,764
Cost of spare parts and equipment sales						4						2,644						—						2,648
Write-down of equipment						6,997						—						—						6,997
General and administrative						14,808						420						—						15,228
Technical expense						1,468						—						—						1,468
Net finance costs:
Interest expense						16,089						—						—						16,089
Total finance costs						16,089						—						—						16,089
Total expenses						63,105						3,089						—						66,194
Earnings (loss) from operations						$	9,124					$	(308)					$	(27)					$	8,789

Six Months Ended June 30, 2021						Leasing and  Related Operations						Spare Parts Sales						Eliminations						Total
Revenue:
Lease rent revenue						$	63,951					$	—					$	—					$	63,951
Maintenance reserve revenue						37,090						—						—						37,090
Spare parts and equipment sales						169						7,966						—						8,135
Asset transition fee (1)						6,256						—						—						6,256
Other revenue						12,122						97						(54)						12,165
Total revenue						119,588						8,063						(54)						127,597
Expenses:
Depreciation and amortization expense						47,423						58						—						47,481
Cost of spare parts and equipment sales						8						7,093						(14)						7,087
Write-down of equipment						4,113						—						—						4,113
General and administrative						34,700						950						—						35,650
Technical expense						3,606						—						—						3,606
Net finance costs:
Interest expense						32,006						—						—						32,006
Total finance costs						32,006						—						—						32,006
Total expenses						121,856						8,101						(14)						129,943
Loss from operations						$	(2,268)					$	(38)					$	(40)					$	(2,346)

Six Months Ended June 30, 2020						Leasing and  Related Operations						Spare Parts Sales						Eliminations						Total
Revenue:
Lease rent revenue						$	84,849					$	—					$	—					$	84,849
Maintenance reserve revenue						50,514						—						—						50,514
Spare parts and equipment sales						1,327						10,633						—						11,960
Gain on sale of leased equipment						1,367						—						—						1,367
Other revenue						7,896						267						(261)						7,902
Total revenue						145,953						10,900						(261)						156,592
Expenses:
Depreciation and amortization expense						47,114						40						—						47,154
Cost of spare parts and equipment sales						152						9,184						—						9,336
Write-down of equipment						9,126						—						—						9,126
General and administrative						33,350						1,445												34,795
Technical expense						2,595						—						—						2,595
Net finance costs:
Interest expense						31,785						—						—						31,785
Loss on debt extinguishment						4,688						—						—						4,688
Total finance costs						36,473						—						—						36,473
Total expenses						128,810						10,669						—						139,479
Earnings (loss) from operations						$	17,143					$	231					$	(261)					$	17,113

						Leasing and  Related Operations						Spare Parts Sales						Eliminations						Total
Total assets as of June 30, 2021						$	2,532,897					$	52,079					$	—					$	2,584,976
Total assets as of December 31, 2020						$	2,312,172					$	52,776					$	—					$	2,364,948

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- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8813-108599

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

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- References

No definition available.

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