CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2025	Jun. 30, 2024
Operating Activities
Net income	$ 761,000	$ 210,812
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation of flight equipment	603,307	559,242
Recoveries of Russian fleet write-off	(675,940)	0
Stock-based compensation expense	30,290	17,112
Deferred taxes	196,546	50,575
Amortization of prepaid lease costs	45,444	50,579
Amortization of discounts and debt issuance costs	27,212	26,401
Gain on aircraft sales, trading and other activity	(89,164)	(97,978)
Changes in operating assets and liabilities:
Other assets	15,897	(25,377)
Accrued interest and other payables	(50,026)	8,555
Rentals received in advance	(2,609)	(14,778)
Net cash provided by operating activities	861,957	785,143
Investing Activities
Acquisition of flight equipment	(1,203,893)	(1,466,104)
Payments for deposits on flight equipment purchases	(736,721)	(179,213)
Proceeds from aircraft sales, trading and other activity	475,937	430,476
Proceeds from settlement of insurance claims	611,728	0
Acquisition of aircraft furnishings, equipment and other assets	(119,419)	(191,952)
Net cash used in investing activities	(972,368)	(1,406,793)
Financing Activities
Cash dividends paid on Class A common stock	(49,090)	(46,703)
Cash dividends paid on preferred stock	(22,163)	(22,933)
Tax withholdings on stock-based compensation	(12,302)	(9,384)
Net change in unsecured revolving facilities	230,000	(1,010,000)
Net change in commercial paper balance	936,000	0
Proceeds from debt financings	433,074	3,024,408
Payments in reduction of debt financings	(1,633,343)	(1,503,849)
Debt issuance costs	(4,490)	(7,534)
Security deposits and maintenance reserve receipts	226,887	198,377
Security deposits and maintenance reserve disbursements	(11,264)	(9,568)
Net cash provided by financing activities	93,309	612,814
Net decrease in cash	(17,102)	(8,836)
Cash, cash equivalents and restricted cash at beginning of period	476,104	464,492
Cash, cash equivalents and restricted cash at end of period	459,002	455,656
Supplemental Disclosure of Cash Flow Information
Cash paid during the period for interest, including capitalized interest of $19,409 and $21,709 at June 30, 2025 and 2024, respectively	474,743	390,120
Cash paid for income taxes	2,209	21,313
Supplemental Disclosure of Noncash Activities
Buyer furnished equipment, capitalized interest and deposits on flight equipment purchases applied to acquisition of flight equipment and other assets	495,801	351,720
Flight equipment subject to operating leases reclassified to flight equipment held for sale	140,253	744,559
Transfer of flight equipment to investment in sales-type lease	33,778	33,629
Cash dividends declared on Class A common stock, not yet paid	$ 24,588	$ 23,389