INVESTMENTS (Tables)

12 Months Ended

Dec. 31, 2022

Equity Method Investments and Joint Ventures [Abstract]

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


	Investment	Ownership Percentage	December 31, 2022		December 31, 2021
Intermodal Finance I, Ltd.	Equity method	51%	$	—	$	—
Long Ridge Energy & Power LLC (1)	Equity method	50%	$	—	$	—
FYX Trust Holdco LLC (2)	Equity at December 31, 2021	66% and 14% as of December 31, 2022 and December 31, 2021, respectively	—		1,255
GM-FTAI Holdco LLC	Equity method	See below	68,025		52,295
Clean Planet Energy USA LLC	Equity method	50%	5,564		858
			$	73,589	$	54,408

______________________________________________________________________________________

(1) The carrying value of $187.2 million and $17.5 million as of December 31, 2022 and 2021, respectively, is included in Other Liabilities in the Consolidated and Combined Consolidated Balance Sheets.

(2) See “Equity Investments - FYX Trust 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) earnings:


	Year Ended December 31,
	2022		2021		2020
Intermodal Finance I, Ltd.	151		470		115
Long Ridge Energy & Power LLC	(60,538)		(13,597)		(3,222)
GM-FTAI Holdco LLC	(5,571)		(205)		—
Clean Planet Energy USA LLC	(1,441)		(167)		—
Total	$	(67,399)	$	(13,499)	$	(3,107)

Equity Method Investments Financial Information

The tables below present summarized financial information for Long Ridge Energy & Power LLC:


	December 31,
Balance Sheet	2022		2021
Assets
Current assets
Cash and cash equivalents	$	2,192	$	2,932
Restricted cash	20,732		32,469
Accounts receivable, net	31,727		17,896
Other current assets	5,732		8,857
Total current assets	60,383		62,154


Property, plant, and equipment, net	827,886		764,607

Intangible assets, net	4,560		4,940
Goodwill	86,460		89,390
Other assets	8,540		5,584
Total assets	$	987,829	$	926,675

Liabilities
Current liabilities
Accounts payable and accrued liabilities	$	87,498	$	16,121
Debt, net	38,526		—
Derivative liabilities	125,134		47,369
Other current liabilities	913		257
Total current liabilities	252,071		63,747
Debt, net	599,499		604,261
Derivative liabilities	557,708		291,664
Other liabilities	6,932		1,989
Total liabilities	1,416,210		961,661

Equity


Total equity	(428,381)		(34,986)
Total liabilities and equity	$	987,829	$	926,675


	Year Ended December 31,
Statement of Operations	2022		2021		2020
Revenue	$	50,230	$	85,638	$	24,917

Expenses

Operating expenses	61,835		28,310		16,339


Depreciation and amortization	51,243		24,836		11,004
Interest expense	53,409		11,005		2,037
Total expenses	166,487		64,151		29,380
Other expense	(4,577)		(44,302)		(1,967)
Loss before income taxes	(120,834)		(22,815)		(6,430)
Provision for income taxes	—		—		—
Net Loss	$	(120,834)	$	(22,815)	$	(6,430)