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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Operating Activities    
Net income $ 266,399 $ 225,862
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of flight equipment 331,160 278,734
Stock-based compensation 10,037 8,317
Deferred taxes 69,081 62,866
Amortization of debt discounts and issuance costs 17,252 16,032
Amortization of prepaid lease costs 14,851 14,610
Gain on aircraft sales, trading and other activity (14,924) (2,185)
Changes in operating assets and liabilities:    
Other assets (127,442) (47,313)
Accrued interest and other payables 85,218 23,737
Rentals received in advance 4,616 7,331
Net cash provided by operating activities 656,248 587,991
Investing Activities    
Acquisition of flight equipment under operating lease (1,962,211) (1,402,374)
Payments for deposits on flight equipment purchases (448,653) (360,440)
Proceeds from aircraft sales, trading and other activity 249,764 250
Acquisition of aircraft furnishings, equipment and other assets (175,926) (141,125)
Net cash used in investing activities (2,337,026) (1,903,689)
Financing Activities    
Issuance of common stock upon exercise of options 11,236 4,128
Cash dividends paid on Class A common stock (28,866) (20,757)
Preferred dividends paid (4,271)  
Tax withholdings on stock-based compensation (3,587) (7,141)
Net change in unsecured revolving facility 199,000 109,000
Proceeds from debt financings 2,032,137 1,738,665
Payments in reduction of debt financings (920,723) (594,706)
Net proceeds from preferred stock issuance 242,130  
Debt issuance costs (7,327) (5,301)
Security deposits and maintenance reserve receipts 142,685 109,007
Security deposits and maintenance reserve disbursements (16,532) (44,421)
Net cash provided by financing activities 1,645,882 1,288,474
Net decrease in cash (34,896) (27,224)
Cash, cash equivalents and restricted cash at beginning of period 322,998 308,282
Cash, cash equivalents and restricted cash at end of period 288,102 281,058
Supplemental Disclosure of Cash Flow Information    
Cash paid during the period for interest, including capitalized interest of $31,602 and $25,692 at June 30, 2019 and 2018, respectively 210,808 149,077
Cash paid for income taxes 3,291 555
Supplemental Disclosure of Noncash Activities    
Buyer furnished equipment, capitalized interest and deposits on flight equipment purchases applied to acquisition of flight equipment 711,432 451,048
Cash dividends declared on Class A common stock, not yet paid $ 14,516 $ 10,399