INVESTMENTS (Tables)

6 Months Ended

Jun. 30, 2022

Equity Method Investments and Joint Ventures [Abstract]

Equity Method Investments

The following table presents the ownership interests and carrying values of our investments:

			Carrying Value
	Investment	Ownership Percentage	June 30, 2022		December 31, 2021
Advanced Engine Repair JV	Equity method	25%	$	20,752	$	21,317
Falcon MSN 177 LLC	Equity method	50%	1,886		1,600
Intermodal Finance I, Ltd.	Equity method	51%	—		—
Long Ridge Terminal LLC (1)	Equity method	50%	—		—
FYX Trust Holdco LLC	Equity at December 31, 2021	65% and 14% as of June 30, 2022 and December 31, 2021, respectively (2)	—		1,255
GM-FTAI Holdco LLC	Equity method	See below	72,475		52,295
Clean Planet Energy USA LLC	Equity method	50%	4,430		858
			$	99,543	$	77,325

________________________________________________________

(1) The carrying value of $188.0 million and $17.5 million as of June 30, 2022 and December 31, 2021 is included in Other liabilities in the Consolidated Balance Sheets.

(2) See “Equity Investments - FYX Holdco LLC” below for additional information regarding the FYX Trust Holdco LLC acquisition in May 2022.

The following table presents our proportionate share of equity in (losses) income:

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Advanced Engine Repair JV	$	(212)	$	(341)	$	(566)	$	(681)
Falcon MSN 177 LLC	247		—		799		—
Intermodal Finance I, Ltd.	45		204		89		376
Long Ridge Terminal LLC	(12,971)		(7,015)		(36,520)		(5,473)
GM-FTAI Holdco LLC	(688)		—		(1,121)		—
Clean Planet Energy USA LLC	(244)		—		(517)		—
Total	$	(13,823)	$	(7,152)	$	(37,836)	$	(5,778)

Equity Method Investments Financial Information

The tables below present summarized financial information for Long Ridge Terminal LLC:

	June 30, 2022		December 31, 2021
Balance Sheet
Assets
Cash and cash equivalents	$	2,470	$	2,932
Restricted cash	25,096		32,469
Accounts receivable, net	24,876		17,896
Property, plant, and equipment, net	788,215		764,607
Intangible assets, net	4,750		4,940
Goodwill	89,390		89,390
Other assets	16,975		14,441
Total assets	$	951,772	$	926,675
Liabilities
Accounts payable and accrued liabilities	$	46,338	$	16,121
Debt, net	606,174		604,261
Derivative liabilities	671,577		339,033
Other liabilities	2,979		2,246
Total liabilities	1,327,068		961,661
Equity
Shareholders’ equity	(272,779)		(1,035)
Accumulated deficit	(102,517)		(33,951)
Total equity	(375,296)		(34,986)
Total liabilities and equity	$	951,772	$	926,675

	Three Months Ended June 30,				Six Months Ended June 30,
Income Statement	2022		2021		2022		2021
Total revenues	$	19,801	$	8,849	$	15,043	$	17,270
Expenses
Operating expenses	19,909		6,715		32,356		10,987
Depreciation and amortization	12,454		3,683		24,998		7,436
Interest expense	13,181		627		26,042		946
Total expenses	45,544		11,025		83,396		19,369
Total other expense	(149)		(11,825)		(213)		(8,826)
Net loss	$	(25,892)	$	(14,001)	$	(68,566)	$	(10,925)