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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net income (loss) $ 84,150 $ (219,899)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Equity in losses of unconsolidated entities 1,715 37,836
Gain on sale of assets, net (75,960) (79,933)
Security deposits and maintenance claims included in earnings (12,215) (30,208)
Equity-based compensation 618 2,294
Depreciation and amortization 79,440 114,923
Asset impairment 1,220 123,676
Change in deferred income taxes 3,127 6,200
Change in fair value of non-hedge derivative 0 (748)
Change in fair value of guarantees (1,902) 0
Amortization of lease intangibles and incentives 18,264 23,818
Amortization of deferred financing costs 4,190 13,328
Provision for credit losses 1,032 47,218
Other (658) (407)
Change in:    
Accounts receivable (21,918) (47,061)
Inventory 11 (12,373)
Other assets (2,583) (25,319)
Accounts payable and accrued liabilities (15,350) 5,045
Management fees payable to affiliate 1,892 (1,829)
Other liabilities 2,168 (5,130)
Net cash provided by (used in) operating activities 67,241 (48,569)
Cash flows from investing activities:    
Investment in unconsolidated entities (19,500) (2,232)
Principal collections on notes receivable 1,624 0
Principal collections on finance leases 1,939 575
Acquisition of business, net of cash acquired 0 (3,819)
Acquisition of leasing equipment (325,462) (320,766)
Acquisition of property, plant and equipment (2,298) (118,729)
Acquisition of lease intangibles (10,795) (5,282)
Investment in promissory notes (11,500) 0
Purchase deposits for acquisitions (11,200) (7,100)
Proceeds from sale of leasing equipment 273,229 138,020
Proceeds from sale of property, plant and equipment 0 4,304
Proceeds for deposit on sale of aircraft and engine 1,817 8,245
Receipt of deposits for sale of aircraft and engine 300 0
Net cash used in investing activities (101,846) (306,784)
Cash flows from financing activities:    
Proceeds from debt 325,000 503,980
Repayment of debt (330,000) (224,724)
Payment of deferred financing costs (1,437) (14,405)
Receipt of security deposits 5,577 1,890
Return of security deposits (1,295) 0
Receipt of maintenance deposits 18,070 24,418
Release of maintenance deposits 0 (878)
Capital contributions from non-controlling interests 10 1,187
Proceeds from issuance of preferred shares, net of underwriter's discount and issuance costs 61,729 0
Cash dividends - common shares (59,854) (65,789)
Cash dividends - preferred shares (15,126) (13,582)
Net cash provided by financing activities 2,674 212,097
Net decrease in cash and cash equivalents and restricted cash (31,931) (143,256)
Cash and cash equivalents and restricted cash, beginning of period 53,065 440,061
Cash and cash equivalents and restricted cash, end of period 21,134 296,805
Supplemental disclosure of non-cash investing and financing activities:    
Acquisition of leasing equipment 50,100 105,635
Acquisition of property, plant and equipment (148) (1,346)
Security deposits, maintenance deposits, other assets and other liabilities settled in the sale of leasing equipment 20,062 0
Settled and assumed security deposits 167 (12,055)
Billed, assumed and settled maintenance deposits 7,374 (55,108)
Non-cash change in equity method investment 0 (142,493)
Conversion of interests in unconsolidated entities 0 (21,302)
Issuance of ordinary shares $ 389 $ 399