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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Operating Activities    
Net income $ 185,862 $ 184,661
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of flight equipment 250,399 220,711
Share-based Compensation 9,077 7,740
Deferred taxes 103,885 101,601
Amortization of debt discounts and issuance costs 15,429 14,549
Gain on aircraft sales, trading and other activity (17,160) (37,713)
Changes in operating assets and liabilities:    
Other assets (86,712) 2,367
Accrued interest and other payables 31,240 7,298
Rentals received in advance 5,943 3,556
Net cash provided by operating activities 497,963 504,770
Investing Activities    
Acquisition of flight equipment under operating lease (1,142,367) (1,138,130)
Payments for deposits on flight equipment purchases (385,628) (437,721)
Proceeds from aircraft sales, trading and other activity 433,284 507,202
Acquisition of aircraft furnishings, equipment and other assets (84,874) (117,132)
Net cash used in investing activities (1,179,585) (1,185,781)
Financing Activities    
Issuance of common stock upon exercise of options and warrants 1,664  
Cash dividends paid (15,450) (10,271)
Tax withholdings on stock-based compensation (5,600) (5,890)
Net change in unsecured revolving facilities 711,000 938,000
Proceeds from debt financings 1,096,673 690,754
Payments in reduction of debt financings (1,229,690) (962,403)
Net change in restricted cash (6,239) (7,862)
Debt issuance costs (3,964) (3,157)
Security deposits and maintenance reserve receipts 110,766 93,261
Security deposits and maintenance reserve disbursements (12,630) (35,362)
Net cash provided by financing activities 646,530 697,070
Net increase/(decrease) in cash (35,092) 16,059
Cash and cash equivalents at beginning of period 274,802 156,675
Cash and cash equivalents at end of period 239,710 172,734
Supplemental Disclosure of Cash Flow Information    
Cash paid during the period for interest, including capitalized interest of $21,931 and $19,521 at June 30, 2017 and 2016, respectively 159,269 151,165
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 312,837 525,991
Cash dividends declared, not yet paid $ 7,741 $ 5,142