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Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Leasing revenues:        
Operating leases $ 358,997 $ 395,400 $ 1,089,349 $ 1,176,436
Finance leases 25,904 29,283 79,814 86,943
Total leasing revenues 384,901 424,683 1,169,163 1,263,379
Equipment trading revenues 34,996 44,786 80,524 127,014
Equipment trading expenses (30,488) (41,106) (73,033) (112,791)
Trading margin 4,508 3,680 7,491 14,223
Net gain on sale of leasing equipment 12,318 26,468 49,401 90,509
Operating expenses:        
Depreciation and amortization 141,438 158,538 436,753 480,176
Direct operating expenses 27,143 10,525 75,221 24,143
Administrative expenses 23,623 22,747 69,884 69,015
Transaction and other costs 68,741 0 71,320 0
Provision (reversal) for doubtful accounts (211) (123) (2,768) (104)
Total operating expenses 260,734 191,687 650,410 573,230
Operating income (loss) 140,993 263,144 575,645 794,881
Other expenses:        
Interest and debt expense 60,073 57,124 176,211 166,293
Unrealized (gain) loss on derivative instruments, net (4) 19 (8) (320)
Debt termination expense 0 190 0 1,853
Other (income) expense, net (169) (644) (482) (1,141)
Total other expenses 59,900 56,689 175,721 166,685
Income (loss) before income taxes 81,093 206,455 399,924 628,196
Income tax expense (benefit) 11,392 16,618 38,648 46,482
Net income (loss) 69,701 189,837 361,276 581,714
Less: dividend on preferred shares 13,028 13,028 39,084 39,084
Net income (loss) attributable to common shareholder $ 56,673 $ 176,809 $ 322,192 $ 542,630