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These excerpts taken from the AYR 10-K filed Mar 2, 2009. Segments
Historically, we reported separate segment information for the
operations of our Aircraft Leasing and Debt Investments
segments. Beginning in the first quarter of 2008, in conjunction
with the sale of two of our debt investments as described below,
our chief operating decision maker, who is the Company’s
Chief Executive Officer, began reviewing and assessing the
operating performance of our business on a consolidated basis as
the sale caused the operational results and asset levels of our
remaining debt investments to be immaterial to our business and
operations. As a result, we now operate in a single segment.
In February 2008, we sold two of our debt investments for
$65.3 million, plus accrued interest. We repaid the
outstanding balance of $52.3 million, plus accrued
interest, under the related repurchase agreement. Additionally,
we terminated the related interest rate swap, with notional
amounts of $39.0 million at December 31, 2007 and
$33.0 million as of the termination date, related to the
repurchase agreement and paid breakage fees and accrued interest
of approximately $1.0 million,
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resulting in a loss of $0.9 million, which is included in
interest expense on the consolidated statement of income.
Our reduction in debt investments was done in order to deploy
our capital more effectively and to reduce short-term repurchase
agreement borrowings and interest rate exposure on our hedged
repurchase agreements related to these debt investments.
Segments Historically, we reported separate segment information for the operations of our Aircraft Leasing and Debt Investments segments. Beginning in the first quarter of 2008, in conjunction with the sale of two of our debt investments as described below, our chief operating decision maker, who is the Company’s Chief Executive Officer, began reviewing and assessing the operating performance of our business on a consolidated basis as the sale caused the operational results and asset levels of our remaining debt investments to be immaterial to our business and operations. As a result, we now operate in a single segment. In February 2008, we sold two of our debt investments for $65.3 million, plus accrued interest. We repaid the outstanding balance of $52.3 million, plus accrued interest, under the related repurchase agreement. Additionally, we terminated the related interest rate swap, with notional amounts of $39.0 million at December 31, 2007 and $33.0 million as of the termination date, related to the repurchase agreement and paid breakage fees and accrued interest of approximately $1.0 million,
Table of Contentsresulting in a loss of $0.9 million, which is included in interest expense on the consolidated statement of income. Our reduction in debt investments was done in order to deploy our capital more effectively and to reduce short-term repurchase agreement borrowings and interest rate exposure on our hedged repurchase agreements related to these debt investments. Segments
Historically, we reported separate segment information for the
operations of our Aircraft Leasing and Debt Investments
segments. Beginning in the first quarter of 2008, in conjunction
with the sale of two of our debt investments as described below,
our chief operating decision maker, who is the Company’s
Chief Executive Officer, began reviewing and assessing the
operating performance of our business on a consolidated basis as
the sale caused the operational results and asset levels of our
remaining debt investments to be immaterial to our business and
operations. As a result, we now operate in a single segment.
In February 2008, we sold two of our debt investments for
$65.3 million, plus accrued interest. We repaid the
outstanding balance of $52.3 million, plus accrued
interest, under the related repurchase agreement. Additionally,
we terminated the related interest rate swap, with notional
amounts of $39.0 million at December 31, 2007 and
$33.0 million as of the termination date, related to the
repurchase agreement and paid breakage fees and accrued interest
of approximately $1.0 million, resulting in a loss of
$0.9 million, which is included in interest expense on the
consolidated statement of income.
The reduction in debt investments was done in order to deploy
our capital more efficiently and to reduce short-term repurchase
agreement borrowings and interest rate exposure on our hedged
repurchase agreements related to these debt investments.
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Segments Historically, we reported separate segment information for the operations of our Aircraft Leasing and Debt Investments segments. Beginning in the first quarter of 2008, in conjunction with the sale of two of our debt investments as described below, our chief operating decision maker, who is the Company’s Chief Executive Officer, began reviewing and assessing the operating performance of our business on a consolidated basis as the sale caused the operational results and asset levels of our remaining debt investments to be immaterial to our business and operations. As a result, we now operate in a single segment. In February 2008, we sold two of our debt investments for $65.3 million, plus accrued interest. We repaid the outstanding balance of $52.3 million, plus accrued interest, under the related repurchase agreement. Additionally, we terminated the related interest rate swap, with notional amounts of $39.0 million at December 31, 2007 and $33.0 million as of the termination date, related to the repurchase agreement and paid breakage fees and accrued interest of approximately $1.0 million, resulting in a loss of $0.9 million, which is included in interest expense on the consolidated statement of income. The reduction in debt investments was done in order to deploy our capital more efficiently and to reduce short-term repurchase agreement borrowings and interest rate exposure on our hedged repurchase agreements related to these debt investments.
Table of ContentsThis excerpt taken from the AYR 10-Q filed Nov 17, 2008. Segments
Historically, we reported separate segment information for the
operations of our Aircraft Leasing and Debt Investments
segments. Beginning in the first quarter of 2008, in conjunction
with the sale of two of our debt investments as described below,
our Chief Operating Decision Maker, who is the Company’s
Chief Executive Officer, began reviewing and assessing the
operating performance of our business on a consolidated basis as
the sale caused the operational results and asset levels of our
remaining debt investments to be immaterial to our business and
operations. As a result, we now operate in a single segment.
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In February 2008, we sold two of our debt investments for
$65.3 million, plus accrued interest. We repaid the
outstanding balance of $52.3 million, plus accrued
interest, under the related repurchase agreement. Additionally,
we terminated the related interest rate swap, with notional
amounts of $39.0 million at December 31, 2007 and
$33.0 million as of the termination date, related to the
repurchase agreement and paid breakage fees and accrued interest
of approximately $1.0 million, resulting in a loss of
$0.9 million, which is included in interest expense on the
consolidated statement of income.
Our reduction in debt investments was done in order to deploy
our capital more efficiently and to reduce short-term repurchase
agreement borrowings and interest rate exposure on our hedged
repurchase agreements related to these debt investments.
This excerpt taken from the AYR 10-Q filed Aug 8, 2008. Segments
Historically we reported separate segment information for the
operations of our Aircraft Leasing and Debt Investments
segments. Beginning in the first quarter of 2008, in conjunction
with the sale of two of our debt investments as described below,
our Chief Operating Decision Maker, who is the Company’s
Chief Executive Officer, began reviewing and assessing the
operating performance of our business on a consolidated basis as
the sale caused the operational results and asset levels of our
remaining debt investments to be immaterial to our business and
operations. As a result, we now operate in a single segment.
In February 2008, we sold two of our debt investments for
$65.3 million, plus accrued interest. We repaid the
outstanding balance of $52.3 million, plus accrued
interest, under the related repurchase agreement. Additionally,
we terminated the related interest rate swap, with notional
amounts of $39.0 million at December 31, 2007 and
$33.0 million as of the termination date, related to the
repurchase agreement and paid breakage fees and accrued interest
of approximately $1.0 million, resulting in a loss of
$0.9 million, which is included in interest expense on the
consolidated statement of income.
Our reduction in debt investments was done in order to deploy
our capital more efficiently and to reduce short-term repurchase
agreement borrowings and interest rate exposure on our hedged
repurchase agreements related to these debt investments.
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This excerpt taken from the AYR 8-K filed Sep 26, 2007. Segments We manage our business and analyze and report our results of operations on the basis of the following two business segments: Aircraft Leasing and Debt Investments. We present our segment information on a contribution margin basis consistent with the information that our Chief Executive Officer (the chief operating decision maker) reviews in assessing segment performance and allocating resources. Contribution margin includes revenue, depreciation, interest expense and other expenses that are directly connected to our business segments. We believe contribution margin is an appropriate measure of performance because it reflects the marginal profitability of our business segments excluding overhead. | EXCERPTS ON THIS PAGE:
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