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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:      
Net loss $ (212,027) $ (130,706) $ (103,692)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:      
Equity in losses of unconsolidated entities 46,971 12,734 5,039
Gain on sale of subsidiaries 0 0 (1,331)
(Gain) loss on sale of assets, net (141,677) (49,031) 308
Security deposits and maintenance claims included in earnings (41,845) (39,067) (6,362)
Loss on extinguishment of debt 19,859 3,254 11,667
Equity-based compensation 2,623 4,038 2,325
Depreciation and amortization 193,236 201,756 172,400
Asset impairment 137,219 10,463 33,978
Change in deferred income taxes 2,161 (2,057) (5,851)
Change in fair value of non-hedge derivatives (1,567) (2,220) 181
Amortization of lease intangibles and incentives 37,135 27,978 30,346
Amortization of deferred financing costs 19,018 21,723 7,315
Provision for credit losses 47,975 12,953 3,595
Other (1,010) (440) 1,502
Change in:      
Accounts receivable (65,969) (88,872) (59,734)
Inventory (23,267) 0 0
Other assets (23,037) (30,789) 3,660
Accounts payable and accrued liabilities (19,599) 25,079 (5,258)
Management fees payable to affiliate 804 1,042 (20,622)
Other liabilities 2,340 118 (6,360)
Net cash (used in) provided by operating activities (20,657) (22,044) 63,106
Cash flows from investing activities:      
Investment in unconsolidated entities (7,344) (54,655) (4,690)
Principal collections on finance leases 2,227 7,387 13,823
Acquisition of business, net of cash acquired (3,819) (627,090) 0
Acquisition of leasing equipment (638,329) (572,624) (321,606)
Acquisition of property, plant and equipment (144,196) (157,332) (264,829)
Acquisition of lease intangibles (31,127) (24,017) 1,997
Investment in convertible promissory notes 0 (10,000) 0
Purchase deposit for acquisitions (6,671) (13,658) (8,343)
Proceeds from sale of leasing equipment 408,937 158,927 72,175
Proceeds from sale of property, plant and equipment 5,289 4,494 0
Proceeds for deposit on sale of aircraft and engine 3,780 600 0
Return of purchase deposits 0 1,010 2,350
Net cash used in investing activities (411,253) (1,286,958) (509,123)
Cash flows from financing activities:      
Proceeds from debt 813,980 2,894,127 1,340,981
Repayment of debt (1,144,529) (1,553,231) (852,197)
Payment of deferred financing costs (18,607) (52,739) (28,243)
Receipt of security deposits 3,882 8,770 3,242
Return of security deposits (2,141) (1,201) (4,655)
Receipt of maintenance deposits 47,846 31,507 33,369
Release of maintenance deposits (1,471) (20,724) (15,712)
Proceeds from issuance of ordinary shares, net of underwriter's discount 0 323,124 0
Proceeds from issuance of preferred shares, net of underwriter's discount and issuance costs 0 101,200 19,694
Capital contributions from non-controlling interests 1,187 0 0
Dividend from spin-off of FTAI Infrastructure, net of cash transferred 500,562 0 0
Settlement of equity-based compensation (148) (421) (120)
Cash dividends - ordinary shares (128,483) (118,009) (113,572)
Cash dividends - preferred shares (27,164) (24,758) (17,869)
Net cash provided by financing activities 44,914 1,587,645 364,918
Net (decrease) increase in cash and cash equivalents and restricted cash (386,996) 278,643 (81,099)
Cash and cash equivalents and restricted cash, beginning of period 440,061 161,418 242,517
Cash and cash equivalents and restricted cash, end of period 53,065 440,061 161,418
Supplemental disclosure of cash flow information:      
Cash paid for interest, net of capitalized interest 185,144 142,200 71,637
Cash paid for taxes 3,279 402 0
Supplemental disclosure of non-cash investing and financing activities:      
Acquisition of leasing equipment 65,534 47,114 141,478
Acquisition of property, plant and equipment 0 (581) (13,237)
Settled and assumed security deposits (6,774) (4,041) (5,825)
Billed, assumed and settled maintenance deposits (47,993) (21,710) (58,906)
Non-cash change in equity method investment (182,963) (129,907) (26,609)
Conversion of interests in unconsolidated entities (21,302) 0 0
Issuance of ordinary shares $ 399 $ 455 $ 304