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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Operating Activities    
Net income $ 277,937 $ 172,492
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of flight equipment 333,962 291,460
Stock-based compensation expense 12,342 12,372
Deferred taxes 152,898 95,233
Amortization of debt discounts and issuance costs 22,630 22,782
Gain on aircraft sales, trading and other activity (47,687) (29,061)
Changes in operating assets and liabilities:    
Other assets (24,305) 18,384
Accrued interest and other payables 23,769 (5,857)
Rentals received in advance 9,933 8,753
Net cash provided by operating activities 761,479 586,558
Investing Activities    
Acquisition of flight equipment under operating lease (1,436,679) (1,697,742)
Payments for deposits on flight equipment purchases (641,737) (482,798)
Proceeds from aircraft sales, trading and other activity 649,210 691,458
Acquisition of furnishings, equipment and other assets (165,378) (189,493)
Net cash used in investing activities (1,594,584) (1,678,575)
Financing Activities    
Issuance of common stock upon exercise of options   40
Cash dividends paid (15,413) (12,302)
Tax withholdings on stock-based compensation (5,890) (5,302)
Net change in unsecured revolving facilities 298,000 (75,000)
Proceeds from debt financings 1,526,001 1,217,384
Payments in reduction of debt financings (1,000,559) (293,736)
Net change in restricted cash (534) (3,231)
Debt issuance costs (4,362) (4,188)
Security deposits and maintenance reserve receipts 153,151 150,318
Security deposits and maintenance reserve disbursements (47,142) (45,063)
Net cash provided by financing activities 903,252 928,920
Net increase (decrease) in cash 70,147 (163,097)
Cash and cash equivalents at beginning of period 156,675 282,819
Cash and cash equivalents at end of period 226,822 119,722
Supplemental Disclosure of Cash Flow Information    
Cash paid during the period for interest, including capitalized interest of $30,137 and $30,449 at September 30, 2016 and 2015, respectively 224,420 199,745
Supplemental Disclosure of Noncash Activities    
Buyer furnished equipment, capitalized interest, deposits on flight equipment purchases and seller financing applied to acquisition of flight equipment and other assets applied to payments for deposits on flight equipment purchases 642,417 766,616
Cash dividends declared, not yet paid $ 5,142 $ 4,103