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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Operating Activities    
Net income $ 225,862 $ 185,862
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of flight equipment 278,734 250,399
Stock-based compensation 8,317 9,077
Deferred taxes 62,866 103,885
Amortization of debt discounts and issuance costs 16,032 15,429
Amortization of prepaid lease costs 14,610 11,473
Gain on aircraft sales, trading and other activity (2,185) (25,048)
Changes in operating assets and liabilities:    
Other assets (47,313) (90,297)
Accrued interest and other payables 23,737 31,240
Rentals received in advance 7,331 5,943
Net cash provided by operating activities 587,991 497,963
Investing Activities    
Acquisition of flight equipment under operating lease (1,402,374) (1,142,367)
Payments for deposits on flight equipment purchases (360,440) (385,628)
Proceeds from aircraft sales, trading and other activity 250 433,284
Acquisition of aircraft furnishings, equipment and other assets (141,125) (84,874)
Net cash used in investing activities (1,903,689) (1,179,585)
Financing Activities    
Issuance of common stock upon exercise of options and warrants 4,128 1,664
Cash dividends paid (20,757) (15,450)
Tax withholdings on stock-based compensation (7,141) (5,600)
Net change in unsecured revolving facility 109,000 711,000
Proceeds from debt financings 1,738,665 1,096,673
Payments in reduction of debt financings (594,706) (1,229,690)
Debt issuance costs (5,301) (3,964)
Security deposits and maintenance reserve receipts 109,007 110,766
Security deposits and maintenance reserve disbursements (44,421) (12,630)
Net cash provided by financing activities 1,288,474 652,769
Net decrease in cash (27,224) (28,853)
Cash, cash equivalents and restricted cash at beginning of period 308,282 290,802
Cash, cash equivalents and restricted cash at end of period 281,058 261,949
Supplemental Disclosure of Cash Flow Information    
Cash paid during the period for interest, including capitalized interest of $25,692 and $21,931 at June 30, 2018 and 2017, respectively 149,077 159,269
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 451,048 312,837
Cash dividends declared, not yet paid $ 10,399 $ 7,741