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SEGMENT INFORMATION (Tables)

3 Months Ended

Mar. 31, 2025

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

I. For the Three Months Ended March 31, 2025

			Three Months Ended March 31, 2025
			Aviation Leasing						Aerospace Products						Corporate and Other						Eliminations						Total
Revenues
Aerospace products revenue (1)			$	—					$	365,063					$	—					$	—					$	365,063
Lease income			68,467						—						4						—						68,471
Maintenance revenue			49,607						—						—						—						49,607
Asset sales revenue			18,939						—						—						—						18,939
Total revenues			$	137,013					$	365,063					$	4					$	—					$	502,080
Expenses
Cost of sales			19,959						228,755						—						—						248,714
Operating expenses			7,426						5,687						19,325						—						32,438
General and administrative			—						—						3,116						—						3,116
Acquisition and transaction expenses			2,905						1,132						3,255						—						7,292
Depreciation and amortization			55,061						3,584						917						—						59,562
Total expenses			85,351						239,158						26,613						—						351,122
Other income (expense)
Interest expense			—						—						(62,040)						—						(62,040)
Equity in (losses) earnings of unconsolidated entities (2)			(777)						113						—						(6,950)						(7,614)
Other income (3)			43,489						—						452						—						43,941
Total other income (expense)			42,712						113						(61,588)						(6,950)						(25,713)
Income (loss) before income taxes			94,374						126,018						(88,197)						(6,950)						125,245
Provision for (benefit from) income taxes			17,348						19,375						(13,864)						—						22,859
Net income (loss)			77,026						106,643						(74,333)						(6,950)						102,386
Less: Dividends on preferred shares			—						—						6,115						—						6,115
Less: Loss on redemption of preferred shares			—						—						6,327						—						6,327
Net income (loss) attributable to shareholders			$	77,026					$	106,643					$	(86,775)					$	(6,950)					$	89,944

______________________________________________________

(1) Includes revenue of $100,638 for the three months ended March 31, 2025 for sales to the 2025 Partnership. See Note 11 for additional information.

(2) Includes the profit elimination of $(6,950) for the three months ended March 31, 2025 for sales to the 2025 Partnership within the Aerospace Products segment.

(3) Includes gain on sale of $10,870 for the three months ended March 31, 2025 for sales to the 2025 Partnership within the Aviation Leasing segment.

II. For the Three Months Ended March 31, 2024

			Three Months Ended March 31, 2024
			Aviation Leasing						Aerospace Products						Corporate and Other						Total
Revenues
Aerospace products revenue			$	—					$	189,057					$	—					$	189,057
Lease income			50,913						—						2,327						53,240
Maintenance revenue			45,790						—						—						45,790
Asset sales revenue			38,607						—						—						38,607
Total revenues			$	135,310					$	189,057					$	2,327					$	326,694
Expenses
Cost of sales			31,889						110,915						—						142,804
Operating expenses			8,207						7,470						9,640						25,317
General and administrative			—						—						3,683						3,683
Acquisition and transaction expenses			2,761						246						3,172						6,179
Management fees and incentive allocation to affiliate			—						—						4,895						4,895
Depreciation and amortization			46,084						933						2,903						49,920
Asset impairment			962						—						—						962
Total expenses			89,903						119,564						24,293						233,760
Other income (expense)
Interest expense			—						—						(47,707)						(47,707)
Equity in losses of unconsolidated entities			(146)						(521)						—						(667)
Other income			369						—						265						634
Total other income (expense)			223						(521)						(47,442)						(47,740)
Income (loss) before income taxes			45,630						68,972						(69,408)						45,194
Provision for income taxes			3,033						2,539						—						5,572
Net income (loss)			42,597						66,433						(69,408)						39,622
Less: Dividends on preferred shares			—						—						8,335						8,335
Net income (loss) attributable to shareholders			$	42,597					$	66,433					$	(77,743)					$	31,287

Revenue from External Customers by Geographic Areas

			Three Months Ended March 31, 2025
			Aviation Leasing						Aerospace Products																		Corporate and Other						Total
Revenues
Africa			$	2,199					$	9,482																	$	—					$	11,681
Asia			32,141						42,959																		4						75,104
Europe			74,044						96,872																		—						170,916
North America			18,263						207,432																		—						225,695
South America			10,366						8,318																		—						18,684
Total revenues (1)			$	137,013					$	365,063																	$	4					$	502,080

______________________________________________________

(1) The United States, included in North America, Ireland, included in Europe, and Bermuda, included in North America, represent 26%, 19% and 11% of total revenues, respectively, based on the location of our lessees. No other country represents more than 10% of total revenues.

Summary information with respect to our geographic sources of revenue, based on location of customer and lessee, is as follows:

			Three Months Ended March 31, 2024
			Aviation Leasing						Aerospace Products						Corporate and Other						Total
Revenues
Africa			$	868					$	5,686					$	—					$	6,554
Asia			25,119						28,500						2,327						55,946
Europe			71,044						67,716						—						138,760
North America			20,847						81,372						—						102,219
South America			17,432						5,783						—						23,215
Total revenues (1)			$	135,310					$	189,057					$	2,327					$	326,694

______________________________________________________

(1) The United States, included in North America, and Ireland, included in Europe, represent 30% and 13% of total revenues, respectively, based on the location of our lessees. No other country represents more than 10% of total revenues.

Summary of Contracted Minimum Future Annual Revenues

Presented below are the contracted minimum future annual revenues to be received under existing operating leases as of March 31, 2025:

			March 31, 2025
Remainder of 2025			$	130,220
2026			119,499
2027			99,075
2028			85,577
2029			54,851
Thereafter			62,270
Total			$	551,492

Long-lived Assets by Geographic Areas

The following tables sets forth the geographic location of property, plant and equipment and leasing equipment, net:

																					March 31, 2025 (unaudited)						December 31, 2024
Property, plant and equipment and leasing equipment, net
Africa																					$	23,571					$	37,369
Asia																					449,632						596,547
Europe																					860,284						1,038,176
North America																					544,316						592,675
South America																					219,618						216,414
Total property, plant and equipment and leasing equipment, net																					$	2,097,421					$	2,481,181

________________________________________________________

(1) The United States, included in North America represents 19% of property, plant and equipment and leasing equipment, net as of March 31, 2025. The United States, included in North America, and Italy, included in Europe, represent 17% and 12% of property, plant and equipment and leasing equipment, net as of December 31, 2024, respectively. No other country represents more than 10% of property, plant and equipment and leasing equipment, net.

X

- Definition

Tabular disclosure of maturity of undiscounted cash flows to be received by lessor on annual basis for operating lease.

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