XML 41 R31.htm IDEA: XBRL DOCUMENT
v3.21.2

Reportable Segments (Tables) | 9 Months Ended
--- | ---
Sep. 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 September 30, 2021 |  | Leasing and Related Operations |  | Spare Parts Sales |  | Eliminations |  | Total
Revenue: |  |  |  |  |  |  |  |
Lease rent revenue |  | $ | 32,908 |  |  | $ | — |  |  | $ | — |  |  | $ | 32,908 |
Maintenance reserve revenue |  | 23,659 |  |  | — |  |  | — |  |  | 23,659 |
Spare parts and equipment sales |  | 85 |  |  | 4,980 |  |  | 26 |  |  | 5,091 |
Gain on sale of leased equipment |  | 2,440 |  |  | — |  |  | — |  |  | 2,440 |
Other revenue |  | 6,421 |  |  | 319 |  |  | (47) |  |  | 6,693 |
Total revenue |  | 65,513 |  |  | 5,299 |  |  | (21) |  |  | 70,791 |
Expenses: |  |  |  |  |  |  |  |
Depreciation and amortization expense |  | 21,246 |  |  | 28 |  |  | — |  |  | 21,274 |
Cost of spare parts and equipment sales |  | 10 |  |  | 3,911 |  |  | — |  |  | 3,921 |
General and administrative |  | 18,069 |  |  | 619 |  |  | (26) |  |  | 18,662 |
Technical expense |  | 2,524 |  |  | — |  |  | — |  |  | 2,524 |
Net finance costs: |  |  |  |  |  |  |  |
Interest expense |  | 18,325 |  |  | — |  |  | — |  |  | 18,325 |
Total finance costs |  | 18,325 |  |  | — |  |  | — |  |  | 18,325 |
Total expenses |  | 60,174 |  |  | 4,558 |  |  | (26) |  |  | 64,706 |
Earnings from operations |  | $ | 5,339 |  |  | $ | 741 |  |  | $ | 5 |  |  | $ | 6,085 |
Three Months Ended September 30, 2020 |  | Leasing and Related Operations |  | Spare Parts Sales |  | Eliminations |  | Total
Revenue: |  |  |  |  |  |  |  |
Lease rent revenue |  | $ | 30,025 |  |  | $ | — |  |  | $ | — |  |  | $ | 30,025 |
Maintenance reserve revenue |  | 32,302 |  |  | — |  |  | — |  |  | 32,302 |
Spare parts and equipment sales |  | 115 |  |  | 3,000 |  |  | (227) |  |  | 2,888 |
Other revenue |  | 5,397 |  |  | 35 |  |  | (34) |  |  | 5,398 |
Total revenue |  | 67,839 |  |  | 3,035 |  |  | (261) |  |  | 70,613 |
Expenses: |  |  |  |  |  |  |  |
Depreciation and amortization expense |  | 23,993 |  |  | 29 |  |  | — |  |  | 24,022 |
Cost of spare parts and equipment sales |  | 2 |  |  | 4,123 |  |  | — |  |  | 4,125 |
Write-down of equipment |  | 5,245 |  |  | — |  |  | — |  |  | 5,245 |
General and administrative |  | 15,578 |  |  | 656 |  |  | 227 |  |  | 16,461 |
Technical expense |  | 827 |  |  | — |  |  | — |  |  | 827 |
Net finance costs: |  |  |  |  |  |  |  |
Interest expense |  | 15,351 |  |  | — |  |  | — |  |  | 15,351 |
Total finance costs |  | 15,351 |  |  | — |  |  | — |  |  | 15,351 |
Total expenses |  | 60,996 |  |  | 4,808 |  |  | 227 |  |  | 66,031 |
Earnings (loss) from operations |  | $ | 6,843 |  |  | $ | (1,773) |  |  | $ | (488) |  |  | $ | 4,582 |
Nine Months Ended September 30, 2021 |  | Leasing and Related Operations |  | Spare Parts Sales |  | Eliminations |  | Total
Revenue: |  |  |  |  |  |  |  |
Lease rent revenue |  | $ | 96,859 |  |  | $ | — |  |  | $ | — |  |  | $ | 96,859 |
Maintenance reserve revenue |  | 60,749 |  |  | — |  |  | — |  |  | 60,749 |
Spare parts and equipment sales |  | 254 |  |  | 12,946 |  |  | 26 |  |  | 13,226 |
Gain on sale of leased equipment |  | 2,440 |  |  | — |  |  | — |  |  | 2,440 |
Asset transition fee (1) |  | 6,256 |  |  | — |  |  | — |  |  | 6,256 |
Other revenue |  | 18,543 |  |  | 416 |  |  | (101) |  |  | 18,858 |
Total revenue |  | 185,101 |  |  | 13,362 |  |  | (75) |  |  | 198,388 |
Expenses: |  |  |  |  |  |  |  |
Depreciation and amortization expense |  | 68,669 |  |  | 86 |  |  | — |  |  | 68,755 |
Cost of spare parts and equipment sales |  | 18 |  |  | 11,004 |  |  | (14) |  |  | 11,008 |
Write-down of equipment |  | 4,113 |  |  | — |  |  | — |  |  | 4,113 |
General and administrative |  | 52,769 |  |  | 1,569 |  |  | (26) |  |  | 54,312 |
Technical expense |  | 6,130 |  |  | — |  |  | — |  |  | 6,130 |
Net finance costs: |  |  |  |  |  |  |  |
Interest expense |  | 50,331 |  |  | — |  |  | — |  |  | 50,331 |
Total finance costs |  | 50,331 |  |  | — |  |  | — |  |  | 50,331 |
Total expenses |  | 182,030 |  |  | 12,659 |  |  | (40) |  |  | 194,649 |
Earnings (loss) from operations |  | $ | 3,071 |  |  | $ | 703 |  |  | $ | (35) |  |  | $ | 3,739 |
Nine Months Ended September 30, 2020 |  | Leasing and Related Operations |  | Spare Parts Sales |  | Eliminations |  | Total
Revenue: |  |  |  |  |  |  |  |
Lease rent revenue |  | $ | 114,874 |  |  | $ | — |  |  | $ | — |  |  | $ | 114,874 |
Maintenance reserve revenue |  | 82,816 |  |  | — |  |  | — |  |  | 82,816 |
Spare parts and equipment sales |  | 1,442 |  |  | 13,633 |  |  | (227) |  |  | 14,848 |
Gain on sale of leased equipment |  | 1,367 |  |  | — |  |  | — |  |  | 1,367 |
Other revenue |  | 13,293 |  |  | 302 |  |  | (295) |  |  | 13,300 |
Total revenue |  | 213,792 |  |  | 13,935 |  |  | (522) |  |  | 227,205 |
Expenses: |  |  |  |  |  |  |  |
Depreciation and amortization expense |  | 71,107 |  |  | 69 |  |  | — |  |  | 71,176 |
Cost of spare parts and equipment sales |  | 154 |  |  | 13,307 |  |  | — |  |  | 13,461 |
Write-down of equipment |  | 14,371 |  |  | — |  |  | — |  |  | 14,371 |
General and administrative |  | 48,928 |  |  | 2,101 |  |  | 227 |  |  | 51,256 |
Technical expense |  | 3,422 |  |  | — |  |  | — |  |  | 3,422 |
Net finance costs: |  |  |  |  |  |  |  |
Interest expense |  | 47,136 |  |  | — |  |  | — |  |  | 47,136 |
Loss on debt extinguishment |  | 4,688 |  |  | — |  |  | — |  |  | 4,688 |
Total finance costs |  | 51,824 |  |  | — |  |  | — |  |  | 51,824 |
Total expenses |  | 189,806 |  |  | 15,477 |  |  | 227 |  |  | 205,510 |
Earnings (loss) from operations |  | $ | 23,986 |  |  | $ | (1,542) |  |  | $ | (749) |  |  | $ | 21,695 |
_____________________________ (1)Asset transition fee reflects the settlement received from the close out of an engine transition program.
|  | Leasing and Related Operations |  | Spare Parts Sales |  | Eliminations |  | Total
Total assets as of September 30, 2021 |  | $ | 2,448,431 |  |  | $ | 52,457 |  |  | $ | — |  |  | $ | 2,500,888 |
Total assets as of December 31, 2020 |  | $ | 2,312,172 |  |  | $ | 52,776 |  |  | $ | — |  |  | $ | 2,364,948 |

X
- 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 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration