XML 246 R4.htm IDEA: XBRL DOCUMENT v3.25.2
Condensed Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
REVENUE        
Interest revenue $ 3,649 $ 2,284 $ 7,583 $ 4,553
Gain on sale of leased equipment 27,582 14,428 32,019 23,629
Gain on sale of financial assets 0 0 378 0
Total revenue 195,502 151,120 353,234 270,203
EXPENSES        
Depreciation and amortization expense 27,550 22,167 52,574 44,653
Cost of spare parts and equipment sales 28,102 5,437 43,425 8,142
Cost of maintenance services 8,621 5,671 13,950 11,245
Write-down of equipment 11,458 0 13,567 261
General and administrative 50,429 34,687 98,149 64,268
Technical expense 7,508 4,518 13,738 12,773
Net finance costs:        
Interest expense 33,569 24,562 65,663 47,565
Total net finance costs 33,569 24,562 65,663 47,565
Total expenses 167,237 97,042 301,066 188,907
Income from operations 28,265 54,078 52,168 81,296
Gain on sale of business 42,950 0 42,950 0
Income from joint ventures 3,082 3,825 4,433 6,499
Income before income taxes 74,297 57,903 99,551 87,795
Income tax expense 13,920 15,317 22,305 24,340
Net income 60,377 42,586 77,246 63,455
Preferred stock dividends 1,353 910 2,676 1,810
Accretion of preferred stock issuance costs 69 12 139 24
Net income attributable to common shareholders 58,955 41,664 74,431 61,621
Net income attributable to common shareholders $ 58,955 $ 41,664 $ 74,431 $ 61,621
Basic weighted average income per common share (in dollars per share) $ 8.68 $ 6.34 $ 11.11 $ 9.51
Diluted weighted average income per common share (in dollars per share) $ 8.43 $ 6.21 $ 10.64 $ 9.22
Basic weighted average common shares outstanding (in shares) 6,789 6,570 6,698 6,479
Diluted weighted average common shares outstanding (in shares) 6,990 6,714 6,995 6,687
Lease rent revenue        
REVENUE        
Lease rent and maintenance reserve revenue $ 72,268 $ 55,866 $ 140,007 $ 108,747
Maintenance reserve revenue        
REVENUE        
Lease rent and maintenance reserve revenue 50,743 62,897 105,602 106,767
Spare parts and equipment sales        
REVENUE        
Other sales and revenue 30,354 6,186 48,594 9,474
Maintenance services revenue        
REVENUE        
Other sales and revenue 8,031 6,781 13,617 12,008
Other revenue        
REVENUE        
Other sales and revenue $ 2,875 $ 2,678 $ 5,434 $ 5,025