XML 30 R7.htm IDEA: XBRL DOCUMENT v3.23.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Operating Activities    
Net income/(loss) $ 261,121 $ (352,716)
Adjustments to reconcile net income/(loss) to net cash provided by operating activities:    
Depreciation of flight equipment 528,266 470,591
Write-off of Russian fleet 0 802,352
Stock-based compensation expense 14,611 4,035
Deferred taxes 59,114 (104,963)
Amortization of discounts and debt issuance costs 26,719 26,610
Amortization of prepaid lease costs 36,064 23,355
Gain on aircraft sales, trading and other activity (86,838) (71,753)
Changes in operating assets and liabilities:    
Other assets 7,028 (147,685)
Accrued interest and other payables 38,986 26,590
Rentals received in advance (4,172) 12,423
Net cash provided by operating activities 880,899 688,839
Investing Activities    
Acquisition of flight equipment under operating lease (2,416,609) (1,569,310)
Payments for deposits on flight equipment purchases (134,825) (345,643)
Proceeds from aircraft sales, trading and other activity 1,261,476 1,166
Acquisition of aircraft furnishings, equipment and other assets (125,541) (106,655)
Net cash used in investing activities (1,415,499) (2,020,442)
Financing Activities    
Cash dividends paid on Class A common stock (44,382) (42,223)
Common shares repurchased 0 (150,000)
Cash dividends paid on preferred stock (20,850) (20,850)
Tax withholdings on stock-based compensation (3,354) (9,027)
Net change in unsecured revolving facility (20,000) 520,000
Proceeds from debt financings 1,538,087 1,497,615
Payments in reduction of debt financings (1,287,880) (718,687)
Debt issuance costs (9,149) (5,613)
Security deposits and maintenance reserve receipts 188,471 198,763
Security deposits and maintenance reserve disbursements (5,925) (12,819)
Net cash provided by financing activities 335,018 1,257,159
Net decrease in cash (199,582) (74,444)
Cash, cash equivalents and restricted cash at beginning of period 780,017 1,108,292
Cash, cash equivalents and restricted cash at end of period 580,435 1,033,848
Supplemental Disclosure of Cash Flow Information    
Cash paid during the period for interest, including capitalized interest of $21,336 and $19,127 at June 30, 2023 and 2022, respectively 325,365 254,349
Cash paid for income taxes 5,573 3,557
Supplemental Disclosure of Noncash Activities    
Buyer furnished equipment, capitalized interest and deposits on flight equipment purchases applied to acquisition of flight equipment 552,058 343,794
Cash dividends declared on Class A common stock, not yet paid $ 22,205 $ 20,511