XML 15 R5.htm IDEA: XBRL DOCUMENT v3.23.4
Consolidated Statements of Cash Flows (Unaudited)
$ in Thousands
3 Months Ended 9 Months Ended
Nov. 30, 2023
USD ($)
Nov. 30, 2023
USD ($)
Nov. 30, 2022
USD ($)
Cash flows from operating activities:      
Net income (loss) $ 25,645 $ 53,933 $ 49,093
Adjustments to reconcile net income to net cash and cash equivalents provided by operating activities:      
Depreciation 86,647 261,764 246,296
Amortization of deferred financing costs   12,611 10,612
Amortization of lease premiums, discounts and incentives 2,641 16,972 14,669
Deferred income taxes   11,082 13,227
Collections on net investment in leases   1,565 5,444
Security deposits and maintenance payments included in earnings   (37,654) (35,437)
Gain on sale or disposition of flight equipment (20,193) (67,240) (67,209)
Loss on extinguishment of debt 0 0 463
Impairment of flight equipment 34,959 37,156 67,979
Provision for credit losses 5,280 11,405 1,543
Other   (1,769) (1,778)
Changes in certain assets and liabilities:      
Accounts receivable   504 11,368
Other assets   (16,164) 2,223
Accounts payable, accrued expenses and other liabilities   8,351 8,947
Lease rentals received in advance   16,551 16,091
Net cash and cash equivalents provided by operating activities   309,067 343,531
Cash flows from investing activities:      
Acquisition and improvement of flight equipment   (669,597) (688,722)
Proceeds from sale of flight equipment   198,816 334,164
Aircraft purchase deposits and progress payments, net of deposits returned and aircraft sales deposits   3,126 7,765
Payments for (Proceeds from) Other Investing Activities   (5,548) 1,500
Net cash and cash equivalents used in investing activities   (473,203) (345,293)
Cash flows from financing activities:      
Proceeds from issuance of common shares   200,000 0
Proceeds from secured and unsecured debt financings   1,383,709 139,800
Repayments of secured and unsecured debt financings   (1,632,983) (163,543)
Debt extinguishment costs   0 (291)
Deferred financing costs   (7,673) (8,674)
Security deposits and maintenance payments received   130,068 110,675
Security deposits and maintenance payments returned   (14,014) (17,679)
Dividends paid   (21,000) (21,000)
Net cash and cash equivalents provided by financing activities   38,107 39,288
Net (decrease) increase in cash and cash equivalents:   (126,029) 37,526
Cash and cash equivalents at beginning of period   231,861 170,682
Cash and cash equivalents at end of period 105,832 105,832 208,208
Cash and cash equivalents 105,832 105,832  
Unrestricted and restricted cash and cash equivalents $ 105,832 105,832 208,208
Supplemental disclosures of cash flow information:      
Cash paid for interest, net of amounts capitalized   158,730 138,999
Cash paid for income taxes   4,142 4,602
Supplemental disclosures of non-cash investing activities:      
Advance lease rentals, security deposits, maintenance payments, other liabilities and other assets assumed in asset acquisitions   13,414 4,005
Advance lease rentals, security deposits, maintenance payments, other liabilities and other assets settled in sale of flight equipment   54,335 18,672
Transfers from flight equipment held for lease to Net investment in leases and Other assets   $ 184,236 $ 1,695