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Reportable Segments (Tables)

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Summary of the reportable segments

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

For the year ended December 31, 2022						Leasing and Related Operations						Spare Parts Sales						Eliminations						Total
Revenue:
Lease rent revenue						$	162,571					$	—					$	—					$	162,571
Maintenance reserve revenue						83,424						—						—						83,424
Spare parts and equipment sales						1,595						25,414						—						27,009
Interest income						7,579						—						—						7,579
Gain on sale of leased equipment						3,133						—						—						3,133
Gain on sale of financial assets						3,116						—						—						3,116
Other revenue						24,607						673						(185)						25,095
Total revenue						286,025						26,087						(185)						311,927
Expenses:
Depreciation and amortization expense						88,124						136						—						88,260
Cost of spare parts and equipment sales						96						20,737						—						20,833
Write-down of equipment						21,849						—						—						21,849
General and administrative						87,996						4,534						—						92,530
Technical expense						14,415						—						—						14,415
Net finance costs:
Interest expense						66,743						—						—						66,743
Gain on debt extinguishment						(2,558)						—						—						(2,558)
Total finance costs						64,185						—						—						64,185
Total expenses						276,665						25,407						—						302,072
Income from operations						$	9,360					$	680					$	(185)					$	9,855

For the Year ended December 31, 2021						Leasing and Related Operations						Spare Parts Sales						Eliminations						Total
Revenue:
Lease rent revenue						$	134,831					$	—					$	—					$	134,831
Maintenance reserve revenue						73,961						—						—						73,961
Spare parts and equipment sales						365						17,042						10						17,417
Interest income						12,938						—						—						12,938
Gain on sale of leased equipment						5,975						—						—						5,975
Gain on sale of financial assets						10,874						—						—						10,874
Asset transition fee (1)						6,256						—						—						6,256
Other revenue						11,584						523						(157)						11,950
Total revenue						256,784						17,565						(147)						274,202
Expenses:
Depreciation and amortization expense						90,391						113						—						90,504
Cost of spare parts and equipment sales						29						14,898						—						14,927
Write-down of equipment						7,715						—						—						7,715
General and administrative						72,333						3,027						(10)						75,350
Technical expense						9,381						—						—						9,381
Net finance costs:
Interest expense						67,985						—						—						67,985
Total finance costs						67,985						—						—						67,985
Total expenses						247,834						18,038						(10)						265,862
Income (loss) from operations						$	8,950					$	(473)					$	(137)					$	8,340

_____________________

(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 December 31, 2022						$	2,530,130					$	45,087					$	—					$	2,575,217
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
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-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
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-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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