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INVESTMENTS (Tables)
12 Months Ended
Dec. 31, 2021
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
InvestmentOwnership PercentageDecember 31, 2021December 31, 2020
Advanced Engine Repair JVEquity method25%$21,317 $22,721 
Falcon MSN 177 LLC
Equity method50%1,600 — 
Long Ridge Terminal LLC (1)
Equity method50% 122,539 
FYX Trust Holdco LLCEquity14%1,255 1,255 
GM-FTAI Holdco LLCEquity methodSee below52,295 — 
Clean Planet Energy USA LLCEquity method50%858 — 
$77,325 $146,515 
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(1) The carrying value of $17.5 million as of December 31, 2021 is included in Other liabilities in the Consolidated Balance Sheets.
The following table presents our proportionate share of equity in (losses) earnings:
Year Ended December 31,
202120202019
Advanced Engine Repair JV$(1,403)$(1,931)$(1,829)
JGP Energy Partners LLC — (292)
Intermodal Finance I, Ltd.470 114 (62)
Long Ridge Terminal LLC(11,429)(3,222)(192)
GM-FTAI Holdco LLC(205)— — 
Clean Planet Energy USA LLC(167)— — 
Total$(12,734)$(5,039)$(2,375)
Equity Method Investments Financial Information
The tables below present summarized financial information for Long Ridge Terminal LLC:
December 31,
Balance Sheet20212020
Assets
Cash and cash equivalents$2,932 $3,057 
Restricted cash32,469 26,920 
Accounts receivable, net17,896 5,711 
Property, plant, and equipment, net764,607 612,234 
Intangible assets, net4,940 5,320 
Goodwill89,390 89,390 
Other assets14,441 9,384 
Total assets$926,675 $752,016 
Liabilities
Accounts payable and accrued liabilities$16,121 $25,173 
Debt, net604,261 445,733 
Other liabilities341,279 36,515 
Total liabilities961,661 507,421 
Equity
Shareholders’ equity(1,035)251,403 
Accumulated deficit(33,951)(6,808)
Total equity(34,986)244,595 
Total liabilities and equity$926,675 $752,016 

Year Ended December 31,
Income Statement20212020
Total revenue85,638 24,917 
Expenses
Operating expenses28,310 16,339 
Depreciation and amortization24,836 11,004 
Interest expense11,005 2,037 
Total expenses64,151 29,380 
Other expense(44,302)(1,967)
Net loss$(22,815)$(6,430)