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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Nov. 30, 2024
Nov. 30, 2023
Cash flows from operating activities:    
Net income (loss) $ 62,835 $ 53,933
Adjustments to reconcile net income to net cash and cash equivalents provided by operating activities:    
Depreciation 264,637 261,764
Amortization of deferred financing costs 12,722 12,611
Amortization of lease premiums, discounts and incentives 18,005 16,972
Deferred income taxes 10,480 11,082
Collections on net investment in leases 5,285 1,565
Security deposits and maintenance payments included in earnings (9,543) (37,654)
Gain on sale or disposition of flight equipment (56,909) (67,240)
Gain on extinguishment of debt (285) 0
Impairment of flight equipment 19,391 37,156
Provision for credit losses 281 11,405
Other (1,746) (1,769)
Changes in certain assets and liabilities:    
Accounts receivable (4,132) 504
Other assets (3,661) (16,164)
Accounts payable, accrued expenses and other liabilities 35,993 8,351
Lease rentals received in advance 13,709 16,551
Net cash and cash equivalents provided by operating activities 367,062 309,067
Cash flows from investing activities:    
Acquisition and improvement of flight equipment (583,541) (669,597)
Proceeds from sale or disposition of flight equipment 474,053 198,816
Aircraft purchase deposits and progress payments, net of deposits returned and aircraft sales deposits (2,269) 3,126
Other (4,796) (5,548)
Net cash and cash equivalents used in investing activities (116,553) (473,203)
Cash flows from financing activities:    
Proceeds from issuance of common shares 300,000 200,000
Proceeds from secured and unsecured debt financings 1,076,193 1,383,709
Repayments of secured and unsecured debt financings (1,304,352) (1,632,983)
Debt extinguishment costs 285 0
Deferred financing costs (5,361) (7,673)
Security deposits and maintenance payments received 109,668 130,068
Security deposits and maintenance payments returned (12,166) (14,014)
Dividends paid (21,000) (21,000)
Net cash and cash equivalents provided by financing activities 143,267 38,107
Net increase (decrease) in cash and cash equivalents: 393,776 (126,029)
Cash and cash equivalents at beginning of period 129,977 231,861
Cash and cash equivalents at end of period 523,753 105,832
Supplemental disclosures of cash flow information:    
Cash paid for interest, net of amounts capitalized 140,296 158,730
Cash paid for income taxes 666 4,142
Supplemental disclosures of non-cash investing activities:    
Advance lease rentals, security deposits, maintenance payments, other liabilities and other assets assumed in asset acquisitions 40,318 13,414
Advance lease rentals, security deposits, maintenance payments, other liabilities and other assets settled in sale of flight equipment 65,357 54,335
Transfers from flight equipment held for lease to Net investment in leases and Other assets $ 6,310 $ 184,236