AIR LEASE CORPORATION AL Income Statement

Air lease corporation (AL)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Sep'10	Jun'10
Revenues
Rental of flight equipment
496,687	504,391	492,869	463,870	455,739	437,096	422,763	393,479	377,862	378,481	359,487	358,114	354,653	353,627	340,864	327,313	317,198	314,263	304,264	286,761	269,256	265,793	252,519	242,538	230,391	226,279	213,835	206,299	190,103	186,210	172,856	155,050	131,737	113,627	90,476	74,004	54,612	19,110	1,235
Aircraft sales, trading and other
14,700	44,165	38,033	7,525	10,312	12,885	27,935	4,335	3,347	-1,052,264	376,765	380,957	360,187	16,860	14,237	22,826	26,130	12,434	8,862	17,941	9,059	20,151	9,420	13,787	15,894	16,622	2,070	1,573	1,894	3,885	2,069	3,123	816	1,430	1,649	340	603	642	474
Total revenues
511,387	548,556	530,902	471,395	466,051	449,981	450,698	397,814	381,209	-	-	-	-	370,487	355,101	350,139	343,328	326,697	313,126	304,702	278,315	285,944	261,939	256,325	246,285	242,901	215,905	207,872	191,997	190,095	174,925	158,173	132,553	115,057	92,125	74,344	55,215	19,752	1,709
Expenses
Interest
107,541	106,639	104,637	96,824	89,220	77,420	82,189	73,452	76,965	41,938	70,473	69,451	76,055	74,701	72,801	70,578	68,121	69,708	67,522	65,829	63,085	59,413	56,005	54,324	50,848	50,155	47,958	48,817	45,440	44,552	39,843	38,237	24,781	17,228	13,301	15,775	11,388	5,806	38,511
Amortization of debt discounts and issuance costs
10,528	10,361	9,078	8,712	8,540	8,475	8,199	8,010	8,022	7,066	6,959	6,437	8,992	8,312	8,081	7,388	7,161	7,725	7,419	7,681	7,682	6,870	7,423	6,989	6,490	7,056	6,012	5,349	5,210	5,441	4,595	4,091	2,867	2,509	2,308	2,336	2,328	1,935	875
Interest expense
118,069	117,000	113,715	105,536	97,760	101,939	90,388	81,462	68,943	93,780	63,514	63,014	67,063	66,389	64,720	63,190	60,960	61,983	60,103	58,148	55,403	52,543	48,582	47,335	44,358	43,099	41,946	43,468	40,230	39,111	35,248	34,146	21,914	14,719	10,993	10,090	9,060	3,871	1,838
Extinguishment of debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-3,349	-	-	-
Amortization of convertible debt discounts
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	35,798
Depreciation of flight equipment
188,895	187,862	183,788	171,689	159,471	153,548	149,703	142,600	136,134	130,400	127,553	126,490	123,909	118,720	113,251	112,136	108,575	106,300	102,046	98,402	91,012	90,921	86,119	81,475	78,142	75,580	71,811	68,783	63,863	61,414	57,932	52,537	44,336	38,876	30,657	24,644	18,130	6,301	327
Settlement
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	72,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Selling, general, and administrative
28,322	31,465	34,715	27,771	29,702	26,175	26,377	21,458	23,359	25,646	19,262	23,843	22,572	23,064	19,874	20,653	19,402	20,811	19,323	17,729	19,098	23,674	19,656	19,906	19,186	22,820	17,497	16,648	14,247	15,703	12,833	14,308	13,609	11,898	11,512	11,284	9,865	7,941	5,759
Stock-based compensation
4,429	5,811	4,897	5,863	4,174	4,313	4,848	4,885	3,432	5,369	5,358	5,304	3,773	4,599	4,602	4,501	3,239	4,650	4,648	4,578	3,146	3,826	3,882	4,940	3,400	3,775	3,751	7,313	6,775	7,140	7,124	9,207	8,217	8,367	8,314	11,753	10,908	10,941	2,255
Total expenses
339,715	342,138	337,115	310,859	291,107	277,953	271,316	250,405	239,890	232,807	222,646	225,088	226,309	221,084	210,528	207,868	199,337	201,469	193,539	186,538	248,341	177,834	165,662	160,645	151,576	152,330	141,017	141,561	130,325	128,809	117,732	114,289	90,943	76,369	63,784	63,456	50,291	30,989	46,852
Income before taxes
171,672	206,418	193,787	160,536	174,944	172,028	179,382	147,409	141,319	165,664	154,119	155,869	133,878	149,403	144,573	142,271	143,991	125,228	119,587	118,164	29,974	108,110	96,277	95,680	94,709	90,571	74,888	66,311	61,672	61,286	57,193	43,884	41,610	38,688	28,341	10,888	4,924	-11,237	-45,143
Income tax expense
34,521	41,483	38,000	32,231	36,850	33,629	32,808	32,198	30,668	-305,438	54,931	54,944	48,941	52,415	51,297	50,468	51,133	44,329	42,545	42,046	10,642	37,979	33,844	33,643	33,312	31,724	26,310	23,321	21,676	21,477	20,182	15,712	14,683	13,926	10,070	3,865	1,748	-3,490	-4,002
Net income
133,307	164,935	151,943	124,034	138,094	138,399	146,574	115,211	110,651	471,102	99,188	100,925	84,937	96,988	93,276	91,803	92,858	80,899	77,042	76,118	19,332	70,131	62,433	62,037	61,397	58,847	48,578	42,990	39,996	39,809	37,011	28,172	26,927	24,762	18,271	7,023	3,176	-7,747	-41,141
Preferred stock dividends
3,844	-	3,844	4,271	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other Comprehensive Loss:
Change in foreign currency translation adjustment
23,477	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change from current period hedged transaction
-25,386	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total tax benefit on other comprehensive loss
-431	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other Comprehensive (loss)/income available for common stockholders, net of tax
-1,478	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total comprehensive income available for common stockholders
131,829	-	-	-	138,094	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Earnings per share of Class A and Class B common stock:
Basic (in dollars per share)
1.17	1.43	1.36	1.11	1.24	1.29	1.41	1.11	1.07	4.56	0.96	0.98	0.83	0.95	0.91	0.89	0.90	0.79	0.75	0.74	0.19	0.69	0.61	0.61	0.60	0.59	0.48	0.42	0.39	0.39	0.37	0.28	0.27	0.28	0.18	0.08	0.05	-0.12	-2.37
Diluted (in dollars per share)
1.17	1.42	1.34	1.10	1.23	1.24	1.32	1.04	1.00	4.22	0.90	0.92	0.78	0.89	0.86	0.84	0.85	0.74	0.71	0.70	0.19	0.65	0.58	0.58	0.57	0.55	0.46	0.41	0.38	0.38	0.36	0.28	0.26	0.28	0.18	0.08	0.05	-0.12	-2.37
Weighted-average shares outstanding
Basic (in shares)
113,471	113,058	112,133	111,371	111,018	107,046	104,066	104,003	103,747	103,406	103,221	103,180	102,947	102,844	102,842	102,837	102,679	102,583	102,580	102,571	102,455	102,396	102,383	101,934	101,857	101,800	101,753	101,301	101,260	101,252	101,247	100,749	100,717	101,224	100,714	91,039	65,393	64,984	17,394
Diluted (in shares)
113,785	113,894	113,263	112,807	112,380	112,288	112,509	112,424	112,230	111,926	111,709	111,564	111,429	111,003	110,788	110,839	110,563	110,594	110,623	110,737	110,558	110,219	110,457	110,056	110,037	109,463	109,227	108,815	108,346	107,912	107,875	107,410	107,426	104,222	100,767	91,163	65,511	64,984	17,394
Dividends declared per share of Class A common stock (in dollars per share)
0.15	0.15	0.13	0.13	0.13	0.13	0.10	0.10	0.10	0.10	0.07	0.07	0.07	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-