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CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net (loss) income $ (93,766) $ 125,457
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:    
Equity in losses of unconsolidated entities 1,799 1,669
Gain on sale of assets (244,353) (110,511)
Security deposits and maintenance claims included in earnings (13,437) (34,458)
Loss on extinguishment of debt 13,920 0
Equity-based compensation 2,578 1,128
Non-cash termination fee to affiliate (issuance of ordinary shares) 150,000 0
Depreciation and amortization 163,386 123,399
Asset impairment 962 1,220
Change in deferred income taxes (2,470) 5,974
Change in fair value of guarantees 1,340 (1,677)
Amortization of lease intangibles and incentives 30,998 33,685
Amortization of deferred financing costs 7,996 6,429
Provision for credit losses 2,784 6,583
Other (158) (995)
Change in:    
Accounts receivable (31,234) (34,358)
Inventory (163,900) (4,845)
Other assets (16,769) (3,727)
Accounts payable and accrued liabilities 50,630 321
Management fees payable to affiliate (3,967) 824
Other liabilities (2,492) 648
Net cash (used in) provided by operating activities (146,153) 116,766
Cash flows from investing activities:    
Investment in unconsolidated entities 0 (19,500)
Principal collections on finance leases 1,872 3,624
Principal collections on notes receivable 3,874 2,438
Acquisition of business, net of cash acquired (143,634) 0
Acquisition of leasing equipment (622,366) (506,923)
Investments in financing receivables (63,857) 0
Acquisition of property, plant and equipment (2,968) (3,906)
Acquisition of lease intangibles 1,174 (10,474)
Investment in promissory notes 0 (11,500)
Deposits for acquisitions of aircraft and engines (162,708) (10,533)
Proceeds from sale of assets 542,938 366,065
Proceeds (refunds) from deposits on sale of aircraft and engines 2,414 (683)
Return of deposits for acquisition of aircraft and engines 530 300
Net cash used in investing activities (442,731) (191,092)
Cash flows from financing activities:    
Proceeds from debt 2,069,250 430,000
Repayment of debt (1,367,304) (330,000)
Payment of deferred financing costs (10,825) (1,805)
Receipt of security deposits under operating lease agreements 6,120 7,355
Return of security deposits under operating lease agreements 0 (2,385)
Receipt of maintenance deposits under operating lease agreements 35,583 22,747
Release of maintenance deposits under operating lease agreements (6,460) (275)
Capital contributions from non-controlling interests (534) 10
Proceeds from issuance of preferred shares, net of underwriter's discount and issuance costs 0 61,729
Cash dividends - ordinary shares (90,809) (89,776)
Cash dividends - preferred shares (25,005) (23,460)
Net cash provided by financing activities 610,016 74,140
Net increase (decrease) in cash and cash equivalents and restricted cash 21,132 (186)
Cash and cash equivalents and restricted cash, beginning of period 90,906 53,065
Cash and cash equivalents and restricted cash, end of period 112,038 52,879
Supplemental disclosure of non-cash investing and financing activities (see Note 2 for additional non-cash information):    
Issuance of notes receivable in connection with the sale of aircraft and engines 69,826 27,634
Acquisition of leasing equipment in accrued expenses (11,772) (8,825)
Purchase deposits reclassified to leasing equipment from other assets (19,608) (6,371)
Security deposits settled with accounts receivable (4,365) (2,851)
Maintenance deposits settled with accounts receivable $ (38,795) $ (38,754)