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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Operating Activities:      
Net Income $ 355,880 $ 493,317 $ 360,286
Adjustments to reconcile Net Income (Loss) to net cash provided by operating activities:      
Depreciation and amortization 354,139 357,330 328,101
Accretion of debt securities discount 0 0 (2)
Provision for (reversal of) expected credit losses (595) (378) 463
Loss on early extinguishment of debt 689 6,042 81
Special charge 16,215 0 16,265
Unrealized loss on financial instruments 0 113 71,053
Loss (gain) on disposal of flight equipment 3,098 (794) (7,248)
Deferred taxes 104,747 152,399 133,598
Stock-based compensation 13,838 14,014 21,997
Changes in:      
Accounts receivable 49,885 (37,800) 26,132
Prepaid expenses, current assets and other assets (18,200) (49,763) (56,716)
Accounts payable, accrued liabilities and other liabilities (41,957) (11,496) 115,532
Net cash provided by operating activities 837,739 922,984 1,009,542
Investing Activities:      
Capital expenditures (103,198) (90,288) (78,933)
Purchase deposits and payments for flight equipment and modifications (743,079) (407,684) (184,273)
Investment in joint ventures (10,614) (4,893) (9,298)
Proceeds from investments 0 0 881
Proceeds from disposal of flight equipment 36,626 9,470 126,335
Net cash used for investing activities (820,265) (493,395) (145,288)
Financing Activities:      
Proceeds from debt issuance 652,929 212,717 417,733
Payment of debt issuance costs (14,701) (9,541) (6,100)
Payments of debt and finance lease obligations (693,723) (542,594) (429,749)
Proceeds from revolving credit facility 0 0 75,000
Payment of revolving credit facility 0 0 (175,000)
Purchase of treasury stock (100,000) 0 0
Customer maintenance reserves and deposits received 16,742 17,745 15,168
Customer maintenance reserves paid (12,178) (35,608) (14,437)
Treasury shares withheld for payment of taxes (13,649) (7,572) (4,018)
Net cash used for financing activities (164,580) (364,853) (121,403)
Net decrease in cash, cash equivalents and restricted cash (147,106) 64,736 742,851
Cash, cash equivalents and restricted cash at the beginning of period 921,017 856,281 113,430
Cash, cash equivalents and restricted cash at the end of period 773,911 921,017 856,281
Noncash Investing and Financing Activities:      
Acquisition of property and equipment included in Accounts payable and accrued liabilities 6,515 38,985 36,619
Acquisition of property and equipment acquired under operating leases 5,343 16,117 91,538
Acquisition of flight equipment under finance leases 24,808 191,994 18,476
Issuance of shares related to settlement of warrant liability 0 31,583 49,545
Issuance of shares related to settlement of convertible notes 7,902 0 0
Customer maintenance reserves settled with sale of aircraft $ 0 $ 0 $ 6,497