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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Operating Activities    
Net income $ 110,651 $ 84,937
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of flight equipment 136,134 123,909
Stock-based compensation 3,432 3,773
Deferred taxes 30,668 48,941
Amortization of debt discounts and issuance costs 8,022 8,992
Amortization of prepaid lease costs 7,020 4,037
Gain on aircraft sales, trading and other activity (765) (7,264)
Changes in operating assets and liabilities:    
Other assets (25,605) (20,359)
Accrued interest and other payables (24,913) (30,549)
Rentals received in advance 2,023 3,247
Net cash provided by operating activities 246,667 219,664
Investing Activities    
Acquisition of flight equipment under operating lease (362,519) (597,254)
Payments for deposits on flight equipment purchases (63,751) (200,549)
Proceeds from aircraft sales, trading and other activity   96,840
Acquisition of aircraft furnishings, equipment and other assets (54,970) (51,464)
Net cash used in investing activities (481,240) (752,427)
Financing Activities    
Issuance of common stock upon exercise of options and warrants 2,628 864
Cash dividends paid (10,359) (7,714)
Tax withholdings on stock-based compensation (7,141) (5,252)
Net change in unsecured revolving facility (510,000) (60,000)
Proceeds from debt financings 1,230,765 487,955
Payments in reduction of debt financings (537,444) (46,598)
Debt issuance costs (2,623) (1,531)
Security deposits and maintenance reserve receipts 48,754 56,165
Security deposits and maintenance reserve disbursements (16,665) (7,840)
Net cash provided by financing activities 197,915 416,049
Net decrease in cash (36,658) (116,714)
Cash, cash equivalents and restricted cash at beginning of period 308,282 290,802
Cash, cash equivalents and restricted cash at end of period 271,624 174,088
Supplemental Disclosure of Cash Flow Information    
Cash paid during the period for interest, including capitalized interest of $12,816 and $11,402 at March 31, 2018 and 2017, respectively 95,466 90,059
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 79,677 220,610
Cash dividends declared, not yet paid $ 10,397 $ 7,736