CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2025	Dec. 31, 2024
Assets
Cash and cash equivalents	$ 454,801	$ 472,554
Restricted cash	4,201	3,550
Flight equipment subject to operating leases	35,667,581	34,168,919
Less accumulated depreciation	(6,535,795)	(5,998,453)
Flight equipment subject to operating leases, net	29,131,786	28,170,466
Net investment in sales-type leases	478,396	433,048
Deposits on flight equipment purchases	1,116,672	761,438
Flight equipment held for sale	524,141	951,181
Other assets	1,585,413	1,485,659
Total assets	33,295,410	32,277,896
Liabilities and Shareholders’ Equity
Accrued interest and other payables	1,094,754	1,272,984
Debt financing, net of discounts and issuance costs	20,320,406	20,209,985
Security deposits on flight equipment leases	634,115	624,597
Maintenance reserves on flight equipment leases	1,375,525	1,180,741
Rentals received in advance	133,804	136,566
Deferred tax liability	1,512,575	1,320,397
Total liabilities	25,071,179	24,745,270
Shareholders’ Equity
Preferred Stock, $0.01 par value; 50,000,000 shares authorized; 900,000 (aggregate liquidation preference of $900,000) shares issued and outstanding at June 30, 2025 and December 31, 2024	9	9
Paid-in capital	3,382,695	3,364,712
Retained earnings	4,836,880	4,147,218
Accumulated other comprehensive income	3,529	19,573
Total shareholders’ equity	8,224,231	7,532,626
Total liabilities and shareholders’ equity	33,295,410	32,277,896
Class A Common Stock
Shareholders’ Equity
Common stock	1,118	1,114
Class B Non‑Voting Common Stock
Shareholders’ Equity
Common stock	$ 0	$ 0