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Reportable Segments (Tables)

9 Months Ended

Sep. 30, 2022

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, 2022						Leasing and  Related Operations						Spare Parts Sales						Eliminations						Total
Revenue:
Lease rent revenue						$	39,515					$	—					$	—					$	39,515
Maintenance reserve revenue						20,438						—						—						20,438
Spare parts and equipment sales						520						6,446						—						6,966
Gain on sale of leased equipment						920						—						—						920
Other revenue						8,769						315						(32)						9,052
Total revenue						70,162						6,761						(32)						76,891
Expenses:
Depreciation and amortization expense						22,032						27						—						22,059
Cost of spare parts and equipment sales						43						4,161						—						4,204
Write-down of equipment						654						—						—						654
General and administrative						21,824						964						—						22,788
Technical expense						2,139						—						—						2,139
Net finance costs:
Interest expense						16,304						—						—						16,304
Total finance costs						16,304						—						—						16,304
Total expenses						62,996						5,152						—						68,148
Income from operations						$	7,166					$	1,609					$	(32)					$	8,743

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
Income from operations						$	5,339					$	741					$	5					$	6,085

Nine months ended September 30, 2022						Leasing and  Related Operations						Spare Parts Sales						Eliminations						Total
Revenue:
Lease rent revenue						$	114,344					$	—					$	—					$	114,344
Maintenance reserve revenue						59,517						—						—						59,517
Spare parts and equipment sales						771						19,617						—						20,388
Gain on sale of leased equipment						3,716						—						—						3,716
Gain on sale of financial assets						3,116						—						—						3,116
Other revenue						22,272						549						(119)						22,702
Total revenue						203,736						20,166						(119)						223,783
Expenses:
Depreciation and amortization expense						65,399						81						—						65,480
Cost of spare parts and equipment sales						53						16,027						—						16,080
Write-down of equipment						21,849						—						—						21,849
General and administrative						64,212						2,608						—						66,820
Technical expense						11,222						—						—						11,222
Net finance costs:
Interest expense						49,209						—						—						49,209
Total finance costs						49,209						—						—						49,209
Total expenses						211,944						18,716						—						230,660
(Loss) income from operations						$	(8,208)					$	1,450					$	(119)					$	(6,877)

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
Income from operations						$	3,071					$	703					$	(35)					$	3,739

_____________________________

(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, 2022						$	2,490,465					$	51,503					$	—					$	2,541,968
Total assets as of December 31, 2021						$	2,415,635					$	47,292					$	—					$	2,462,927

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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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://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 https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

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- References

No definition available.

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