XML 59 R4.htm IDEA: XBRL DOCUMENT v3.25.3
Condensed Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
REVENUE        
Interest revenue $ 3,360 $ 3,412 $ 10,943 $ 7,965
Gain on sale of leased equipment 16,134 9,519 48,153 33,148
Gain on sale of financial assets 0 0 378 0
Total revenue 183,389 146,223 536,623 416,426
EXPENSES        
Depreciation and amortization expense 28,662 23,650 81,236 68,303
Cost of spare parts and equipment sales 6,684 8,861 50,109 17,003
Cost of maintenance services 5,135 6,402 19,085 17,647
Write-down of equipment 10,201 605 23,768 866
General and administrative 49,190 40,037 147,339 104,305
Technical expense 8,352 5,151 22,090 17,924
Net finance costs:        
Interest expense 34,177 27,813 99,840 75,378
Loss on debt extinguishment 2,963 0 2,963 0
Total net finance costs 37,140 27,813 102,803 75,378
Total expenses 145,364 112,519 446,430 301,426
Income from operations 38,025 33,704 90,193 115,000
Gain on sale of business 0 0 42,950 0
Income from joint ventures 5,192 756 9,625 7,255
Income before income taxes 43,217 34,460 142,768 122,255
Income tax expense 18,893 10,364 41,198 34,704
Net income 24,324 24,096 101,570 87,551
Preferred stock dividends 1,369 948 4,045 2,758
Accretion of preferred stock issuance costs 70 15 209 39
Net income attributable to common shareholders 22,885 23,133 97,316 84,754
Net income attributable to common shareholders $ 22,885 $ 23,133 $ 97,316 $ 84,754
Basic weighted average income per common share (in dollars per share) $ 3.36 $ 3.51 $ 14.45 $ 13.01
Diluted weighted average income per common share (in dollars per share) $ 3.25 $ 3.37 $ 13.89 $ 12.57
Basic weighted average common shares outstanding (in shares) 6,813 6,582 6,736 6,513
Diluted weighted average common shares outstanding (in shares) 7,031 6,859 7,007 6,745
Lease rent revenue        
REVENUE        
Lease rent and maintenance reserve revenue $ 76,552 $ 64,905 $ 216,559 $ 173,652
Maintenance reserve revenue        
REVENUE        
Lease rent and maintenance reserve revenue 76,054 49,760 181,656 156,527
Spare parts and equipment sales        
REVENUE        
Other sales and revenue 5,394 10,863 53,988 20,337
Maintenance services revenue        
REVENUE        
Other sales and revenue 3,636 5,948 17,253 17,956
Other revenue        
REVENUE        
Other sales and revenue $ 2,259 $ 1,816 $ 7,693 $ 6,841