XML 17 R5.htm IDEA: XBRL DOCUMENT v3.25.4
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Nov. 30, 2025
Nov. 30, 2024
Cash flows from operating activities:    
Net income (loss) $ 137,212 $ 62,835
Adjustments to reconcile net income to net cash and cash equivalents provided by operating activities:    
Depreciation 288,633 264,637
Amortization of deferred financing costs 13,570 12,722
Amortization of lease premiums, discounts and incentives (202) 18,005
Deferred income taxes 18,926 10,480
Collections on net investment in leases 1,496 5,285
Security deposits, maintenance payments and insurance settlements included in earnings (103,868) (9,543)
Gain on sale or disposition of flight equipment (59,621) (56,909)
(Gain) loss on extinguishment of debt 2,973 (285)
Impairment of flight equipment 51,929 19,391
Provision for credit losses (40) 281
Other (2,273) (1,746)
Changes in certain assets and liabilities:    
Accounts receivable (763) (4,132)
Other assets 850 (3,661)
Accounts payable, accrued expenses and other liabilities 28,872 35,993
Lease rentals received in advance (10,451) 13,709
Net cash and cash equivalents provided by operating activities 367,243 367,062
Cash flows from investing activities:    
Acquisition and improvement of flight equipment (1,328,102) (583,541)
Proceeds from sale or disposition of flight equipment 368,813 474,053
Proceeds from Insurance Settlement, Investing Activities 62,324 0
Proceeds from Sale of Debt Securities, Available-for-Sale 10,128 0
Aircraft purchase deposits and progress payments, net of deposits returned and aircraft sales deposits 3,110 (2,269)
Other (990) (4,796)
Net cash and cash equivalents used in investing activities (884,717) (116,553)
Cash flows from financing activities:    
Proceeds from issuance of common shares 0 300,000
Proceeds from secured and unsecured debt financings 1,715,489 1,076,193
Repayments of secured and unsecured debt financings (1,349,093) (1,304,352)
Debt extinguishment costs 0 285
Deferred financing costs (12,234) (5,361)
Security deposits and maintenance payments received 123,425 109,668
Security deposits and maintenance payments returned (37,732) (12,166)
Dividends paid (62,784) (21,000)
Net cash and cash equivalents provided by financing activities 377,071 143,267
Net (decrease) increase in cash and cash equivalents: (140,403) 393,776
Cash and cash equivalents at beginning of period 279,052 129,977
Cash and cash equivalents at end of period 138,649 523,753
Supplemental disclosures of cash flow information:    
Cash paid for interest, net of amounts capitalized 167,177 140,296
Cash paid for income taxes 957 666
Supplemental disclosures of non-cash investing activities:    
Advance lease rentals, security deposits, maintenance payments, other liabilities and other assets assumed in asset acquisitions 52,185 40,318
Advance lease rentals, security deposits, maintenance payments, other liabilities and other assets settled in sale of flight equipment 39,868 65,357
Transfers from flight equipment held for lease to Net investment in leases and Other assets $ 64,836 $ 6,310