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CONSOLIDATED STATEMENTS OF CASH FLOWS
$ in Thousands
12 Months Ended
Dec. 31, 2016
USD ($)
Dec. 31, 2015
USD ($)
Dec. 31, 2014
USD ($)
Operating Activities      
Net income $ 374,925 $ 253,391 $ 255,998
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation of flight equipment 452,682 397,760 336,657
Share-based Compensation 16,941 17,022 16,048
Deferred taxes 205,313 138,608 137,107
Tax benefits from stock-based compensation arrangements     (7,011)
Amortization of discounts and debt issuance costs 30,942 30,507 27,772
Gain on aircraft sales, trading and other activity (61,494) (33,898) (56,457)
Changes in operating assets and liabilities:      
Other assets (53,114) 4,162 (1,191)
Accrued interest and other payables 45,983 16,635 45,738
Rentals received in advance 7,900 15,608 14,357
Net cash provided by operating activities 1,020,078 839,795 769,018
Investing Activities      
Acquisition of flight equipment under operating lease (1,914,093) (2,088,646) (1,568,748)
Payments for deposits on flight equipment purchases (868,091) (597,170) (601,307)
Proceeds from aircraft sales, trading and other activity 988,040 752,747 603,849
Acquisition of furnishings, equipment and other assets (211,372) (219,732) (239,451)
Net cash used in investing activities (2,005,516) (2,152,801) (1,805,657)
Financing Activities      
Issuance of common stock upon exercise of options 20 60 944
Cash dividends paid (20,555) (16,405) (12,243)
Tax withholdings on stock-based compensation (5,890) (5,302) (18,089)
Tax benefits from stock-based compensation arrangements     7,011
Net change in unsecured revolving facilities 46,000 151,000 (239,000)
Proceeds from debt financings 2,021,966 1,232,384 1,663,120
Payments in reduction of debt financings (1,093,910) (328,248) (577,212)
Net change in restricted cash 528 (9,059) 79,839
Debt issuance costs (5,042) (4,518) (7,975)
Security deposits and maintenance reserve receipts 218,754 218,380 185,639
Security deposits and maintenance reserve disbursements (58,306) (51,430) (32,749)
Net cash provided by financing activities 1,103,565 1,186,862 1,049,285
Net increase (decrease) in cash 118,127 (126,144) 12,646
Cash and cash equivalents at beginning of period 156,675 282,819 270,173
Cash and cash equivalents at end of period 274,802 156,675 282,819
Supplemental Disclosure of Cash Flow Information      
Cash paid during the period for interest, including capitalized interest of $40,883, $40,118 and $42,775 at December 31, 2016, 2015 and 2014, respectively 293,969 259,968 211,345
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 873,828 944,469 756,286
Cash dividends declared, not yet paid $ 7,714 $ 5,129 $ 4,096