AIRCASTLE LIMITED AYR Income Statement

Aircastle limited (AYR)

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:
Operating Leases, Income Statement, Lease Revenue
198,920	200,341	203,005	192,823	181,234	184,682	182,043	178,486	177,483	169,931	171,687	189,098	190,586	187,550	181,975	176,125	179,570	183,394	188,038	184,839	177,146	178,202	178,886	183,231	174,335	169,273	161,148	157,918	156,590	158,090	159,547	153,624	152,242	149,848	145,890	143,355	141,116	133,486	128,133
Direct financing and sales-type lease revenue
6,766	7,302	8,229	8,321	8,443	8,029	8,793	8,868	9,442	9,353	6,412	5,878	4,073	4,164	5,354	4,174	3,498	2,306	1,868	1,877	1,607	1,559	1,463	3,897	3,987	4,045	4,122	4,114	3,884	3,919	3,518	956	0	-	-	-	-	-	-
Amortization of lease premiums, discounts and incentives
5,696	5,685	5,895	5,345	5,711	4,563	4,044	3,534	3,128	2,934	2,388	3,280	3,112	4,934	521	3,828	1,070	376	2,113	4,351	3,824	-1,080	1,075	-414	6,591	6,884	9,737	8,709	7,081	6,452	6,838	-2,044	1,598	5,604	4,709	3,030	3,102	4,203	4,909
Total lease revenue
246,542	222,882	216,434	222,366	200,367	281,895	186,792	183,820	195,788	176,740	190,218	220,640	203,834	199,767	193,637	188,985	183,258	201,225	203,519	203,714	193,002	233,812	175,085	223,724	174,773	191,793	168,465	166,508	170,259	171,751	167,171	170,159	163,291	156,192	141,181	148,487	154,858	131,823	130,060
Total expenses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	158,083	129,467	-	126,485	134,616	121,271	123,024	109,063
Gain (Loss) on Disposition of Property Plant Equipment
27,049	20,101	13,083	346	12,002	8,180	2,954	19,864	5,768	19,241	21,642	13,525	759	24,194	-73	2,172	12,833	14,983	15,679	21,102	6,253	9,762	11,390	884	1,110	11,619	3,092	21,317	1,192	2,685	11	2,855	196	10,134	8,997	10,299	9,662	-	-1,291
Total revenues
282,498	243,730	236,865	223,416	213,927	292,566	190,829	204,276	202,680	196,643	213,053	237,059	205,032	243,779	194,652	189,988	183,665	208,267	212,074	204,565	194,296	238,257	177,596	226,146	176,603	191,988	170,090	170,378	176,189	176,610	172,866	172,181	164,915	156,938	141,507	148,838	157,914	132,247	130,184
Operating expenses:
Depreciation
89,705	90,711	90,997	89,578	84,735	81,608	78,059	76,181	75,002	71,218	70,018	78,254	79,174	77,298	76,201	75,070	76,647	81,245	85,324	77,368	74,846	74,135	75,519	75,784	73,927	72,476	70,469	72,079	69,900	69,896	68,413	67,097	64,514	63,804	60,132	58,576	59,591	55,703	54,424
Interest, net
-61,507	-62,969	-65,261	-66,377	-63,463	-62,867	-57,131	-57,398	-57,108	-55,855	-60,636	-61,672	-63,068	-67,170	-61,797	-62,452	-64,241	-59,514	-60,381	-61,551	-62,131	-56,827	-56,794	-60,494	-64,263	-60,106	-57,843	-66,656	-59,152	-281,809	-54,101	64,121	48,981	-354,534	48,872	55,893	45,619	47,453	40,166
Selling, general and administrative (including non-cash share-based payment expense of $38,727 and $2,726 for the three months ended March 31, 2020 and 2019, respectively)
62,382	22,761	17,956	18,317	18,000	21,301	18,306	18,583	17,835	18,113	17,137	22,187	16,167	14,989	15,985	15,406	15,492	13,535	14,032	14,699	13,932	13,955	13,817	14,057	13,944	14,139	12,830	13,182	13,285	11,754	11,907	11,511	13,198	9,644	12,200	11,578	12,531	11,334	11,036
Impairment of flight equipment
62,657	0	0	7,404	0	-	0	0	-	0	0	79,930	500	1,400	10,462	16,723	0	-	78,403	23,955	-	26,988	20,436	28,306	18,263	4,971	106,136	0	6,199	7,667	78,676	10,111	0	-	1,236	5,200	-	7,342	-
Maintenance and other costs
4,756	4,961	7,250	5,213	7,404	4,233	2,179	1,561	988	1,231	2,572	2,343	2,931	2,269	1,834	2,267	1,403	2,376	2,520	3,663	2,943	2,017	713	2,646	1,863	2,167	1,914	6,138	3,412	2,713	3,926	5,243	2,774	2,333	4,045	3,369	3,530	1,192	3,437
Total operating expenses
281,007	181,402	181,464	186,889	173,602	170,009	155,675	153,723	150,933	146,417	150,363	244,386	161,840	163,126	166,279	171,918	157,783	174,147	240,660	181,236	153,852	173,922	167,279	181,287	172,260	153,859	249,192	158,055	151,948	-	217,023	-	-	-	-	-	-	-	-
Gain (Loss) on Extinguishment of Debt
-3,955	-	-7,577	-	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-36,570	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-
Merger Expenses
32,210	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other expense:
Other
-112	-7,635	-258	-1,910	-2,061	-2,807	368	901	3,174	593	-360	-1,560	-1,149	-	-210	147	-73	578	70	277	-6	449	1	0	757	1,116	855	2,946	1,215	-2	0	717	-113	-115	-117	323	-359	-501	-176
Nonoperating Income (Expense)
-36,277	-	-7,835	-	-2,061	-	368	-	-	-	-	-	-	-11,269	-283	2,319	12,760	15,561	15,749	21,379	6,247	10,211	11,391	-35,686	1,867	12,735	3,947	24,263	2,407	2,683	11	3,572	83	10,019	8,880	10,622	9,303	-501	-1,467
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest
-34,786	54,693	47,566	34,617	38,264	119,750	35,522	51,454	54,921	50,819	62,330	-8,887	42,043	69,384	28,090	20,389	38,642	49,681	-12,837	44,708	46,691	74,546	21,708	9,173	6,210	50,864	-75,155	36,586	26,648	31,658	-44,146	17,670	35,531	37,410	23,902	24,844	45,946	8,722	19,654
Income tax provision
149	8,072	5,505	5,992	3,098	2,118	1,236	3,132	-844	-2,494	6,195	495	1,846	3,525	2,458	2,385	3,939	734	2,709	4,465	4,863	2,938	3,484	6,558	883	2,496	-597	3,732	3,584	1,869	1,701	1,346	2,929	1,791	1,237	1,535	3,269	153	1,515
Earnings (loss) of unconsolidated equity method investments, net of tax
714	697	1,274	2,487	-356	-13,795	2,046	1,881	1,782	1,807	1,296	2,266	2,242	1,865	1,805	2,026	1,559	1,694	1,557	1,565	1,441	1,156	927	521	450	53	0	0	0	-	-	-	-	-	-	-	-	-	-
Net Income (Loss) Attributable to Parent
-34,221	47,318	43,335	31,112	34,810	103,837	36,332	50,203	57,547	55,120	57,431	-7,116	42,439	67,724	27,437	20,030	36,262	50,641	-13,989	41,808	43,269	72,764	19,151	3,136	5,777	48,421	-74,558	32,854	23,064	29,789	-45,847	16,324	32,602	35,619	22,665	23,309	42,677	8,569	18,139
Net derivative loss reclassified into earnings
0	-	-	-	-184	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other Comprehensive Income (Loss), Net of Tax
0	-	-	-	184	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Comprehensive Income (Loss), Net of Tax, Attributable to Parent
-34,221	-	-	-	34,994	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Earnings (loss) per common share — Basic:
Net income per share (in dollars per share)
-	-	0.58	0.41	-	1.34	0.47	0.64	0.73	0.70	0.73	-0.09	0.54	0.86	0.35	0.25	0.46	0.63	-0.17	0.51	0.53	0.90	0.24	0.04	0.07	0.53	-0.95	0.48	0.34	0.43	-0.65	0.23	0.45	0.49	0.31	0.30	0.54	0.11	0.23
Earnings (loss) per common share — Diluted:
Net income per share (in dollars per share)
-	-	0.57	0.41	-	1.34	0.46	0.64	0.73	0.69	0.73	-0.09	0.54	0.86	0.35	0.25	0.46	0.63	-0.17	0.51	0.53	0.90	0.24	0.04	0.07	0.53	-0.95	0.48	0.34	0.43	-0.65	0.23	0.45	0.49	0.31	0.30	0.54	0.11	0.23
Dividends declared per share (in dollars per share)
-	-	0.30	0.30	-	0.30	0.28	0.28	0.28	0.28	0.26	0.26	0.26	0.26	0.24	0.24	0.24	0.24	0.22	0.22	0.22	0.22	0.20	0.20	0.20	0.20	0.16	0.16	0.16	0.16	0.15	0.15	0.15	0.15	0.12	0.12	0.10	0.10	0.10
Maintenance revenue
Revenue from Contract with Customer, Excluding Assessed Tax
46,552	20,924	11,095	26,567	16,401	93,747	0	0	11,991	390	14,507	28,944	12,287	12,987	6,829	12,514	1,260	15,901	15,726	21,349	18,073	52,971	-4,189	36,182	3,042	25,359	12,932	13,185	16,866	16,194	10,944	13,535	12,647	11,948	0	8,162	16,844	2,540	6,836
Other revenue
Revenue from Contract with Customer, Excluding Assessed Tax
8,907	747	7,348	704	1,558	2,491	1,083	592	1,124	662	1,193	2,894	439	4,886	1,015	1,003	407	7,042	8,555	851	1,294	4,445	2,511	2,422	1,830	195	1,625	3,870	5,930	4,859	5,695	2,022	1,624	746	326	351	3,056	424	124