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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2022
Income Tax Disclosure [Abstract] |
Schedule of components of income from continuing operation before income taxes | The components of income before income taxes are as follows:
| Years ended December 31,
| 2022 |  | 2021
| (in thousands)
United States | $ | 11,864 |  |  | $ | 4,659 |
Foreign | (2,071) |  |  | 4,481 |
Income before income taxes | $ | 9,793 |  |  | $ | 9,140 |
Schedule of components of income tax expense | The components of income tax expense for the years ended December 31, 2022 and 2021 were as follows:
| Federal |  | State |  | Foreign |  | Total
| (in thousands)
2022 |  |  |  |  |  |  |
Current | $ | — |  |  | $ | 128 |  |  | $ | 2,161 |  |  | $ | 2,289 |
Deferred | 3,758 |  |  | (1,693) |  |  | — |  |  | 2,065 |
Total | $ | 3,758 |  |  | $ | (1,565) |  |  | $ | 2,161 |  |  | $ | 4,354 |
2021 |  |  |  |  |  |  |
Current | $ | — |  |  | $ | (2) |  |  | $ | 1,597 |  |  | $ | 1,595 |
Deferred | 4,072 |  |  | 121 |  |  | — |  |  | 4,193 |
Total | $ | 4,072 |  |  | $ | 119 |  |  | $ | 1,597 |  |  | $ | 5,788 |
Schedule of reconciliation of the federal income tax expense at the statutory rate to the effective income tax expense | The following is a reconciliation of the federal income tax expense at the statutory rate of 21% for the years ended December 31, 2022 and 2021 to the effective income tax expense:
| Years Ended December 31,
| 2022 |  | 2021
| (in thousands)
Statutory federal income tax expense | $ | 2,057 |  |  | $ | 1,844 |
State taxes, net of federal benefit | (1,593) |  |  | 119 |
Foreign tax paid | 1,509 |  |  | — |
Foreign jurisdiction rate differential | 666 |  |  | 705 |
Permanent differences-nondeductible executive compensation | 2,180 |  |  | 2,042 |
Permanent differences and other | (465) |  |  | 1,078 |
Effective income tax expense | $ | 4,354 |  |  | $ | 5,788 |
Schedule of activity related to the Company's unrecognized tax benefits | The following table summarizes the activity related to the Company’s unrecognized tax benefits:
| (in thousands)
Balance as of December 31, 2020 | $ | 330 |
Decreases related to current year tax positions | — |
Decreases due to tax positions expired | (317) |
Balance as of December 31, 2021 | 13 |
Decreases related to current year tax positions | 11 |
Decreases due to tax positions expired | (5) |
Balance as of December 31, 2022 | $ | 19 |
Schedule of tax effects of temporary differences of the deferred tax assets and liabilities | The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and liabilities are presented below:
| As of December 31,
| 2022 |  | 2021
| (in thousands)
Deferred tax assets: |  |  |
Unearned lease revenue | $ | 3,867 |  |  | $ | 2,217 |
State taxes | 2 |  |  | — |
Inventory | 2,123 |  |  | 1,486 |
Reserves and allowances | 4,425 |  |  | 6,781 |
Other accruals | 15,973 |  |  | 2,577 |
Lease liability | 1,366 |  |  | 146 |
Net operating loss carry forward | 67,595 |  |  | 68,168 |
California alternative minimum tax credit | 33 |  |  | 33 |
Charitable contributions | 2 |  |  | 2 |
Total deferred tax assets | 95,386 |  |  | 81,410 |
Less: valuation allowance | (536) |  |  | (518) |
Net deferred tax assets | 94,850 |  |  | 80,892 |
Deferred tax liabilities: |  |  |
Depreciation and impairment on aircraft engines and equipment | (208,389) |  |  | (183,131) |
Notes receivable | (5,479) |  |  | (15,911) |
Right of use liability | (1,360) |  |  | (139) |
Other deferred tax liabilities | (4,590) |  |  | (4,595) |
Net deferred tax liabilities | (219,818) |  |  | (203,776) |
Other comprehensive income deferred tax liability | (7,548) |  |  | (1,448) |
Net deferred tax liabilities | $ | (132,516) |  |  | $ | (124,332) |

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