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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating Activities:    
Net Income $ 81,511 $ 89,933
Adjustments to reconcile Net Income to net cash provided by operating activities:    
Depreciation and amortization 85,257 86,172
Provision for (reversal of) expected credit losses (15) (397)
Special charge 2,633 0
Unrealized loss on financial instruments 0 113
Loss (gain) on disposal of flight equipment (6,240) 16
Deferred taxes 23,682 27,839
Stock-based compensation 2,195 4,060
Changes in:    
Accounts receivable 9,960 (22,745)
Prepaid expenses, current assets and other assets (3,619) (7,500)
Accounts payable, accrued liabilities and other liabilities 12,475 (89,366)
Net cash provided by operating activities 207,839 88,125
Investing Activities:    
Capital expenditures (29,895) (26,662)
Purchase deposits and payments for flight equipment and modifications (154,420) (126,807)
Investment in joint ventures (783) (1,608)
Proceeds from disposal of flight equipment 13,500 1,850
Net cash used for investing activities (171,598) (153,227)
Financing Activities:    
Proceeds from debt issuance 0 16,161
Payment of debt issuance costs (81) (900)
Payments of debt and finance lease obligations (108,466) (77,953)
Prepayment of accelerated share repurchase (20,034) 0
Purchase of treasury stock (79,966) 0
Customer maintenance reserves and deposits received 4,245 5,152
Customer maintenance reserves paid 0 (12,265)
Treasury shares withheld for payment of taxes (12,053) (7,350)
Net cash used for financing activities (216,355) (77,155)
Net increase (decrease) in cash, cash equivalents and restricted cash (180,114) (142,257)
Cash, cash equivalents and restricted cash at the beginning of period 921,017 856,281
Cash, cash equivalents and restricted cash at the end of period 740,903 714,024
Noncash Investing and Financing Activities:    
Acquisition of property and equipment included in Accounts payable and accrued liabilities 3,146 24,938
Acquisition of property and equipment acquired under operating leases 104 4,015
Acquisition of flight equipment under finance leases 3,108 20,171
Issuance of shares related to settlement of warrant liability $ 0 $ 31,582