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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 6 Months Ended
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Jun. 30, 2025
Accounting Policies [Abstract] |
Schedule of Other Current Assets | Other current assets are summarized as follows:
| June 30, 2025 (unaudited) |  | December 31, 2024
Notes receivable | $ | 182,720 |  |  | $ | 165,338 |
Financing receivable resulting from failed sale-leaseback transactions | 39,606 |  |  | 32,486 |
Prepaid expenses including prepayments for maintenance that has not yet been incurred | 30,605 |  |  | 87,323 |
Purchase deposits | 22,120 |  |  | 83,229 |
Maintenance right assets | 20,844 |  |  | — |
Tax assets | 19,776 |  |  | 31,622 |
Contract asset from the 2025 Partnership | 15,184 |  |  | — |
Other | 12,370 |  |  | 8,925 |
Other current assets | $ | 343,225 |  |  | $ | 408,923 |
Schedule of Other Non-current Assets | Other non-current assets are summarized as follows:
| June 30, 2025 (unaudited) |  | December 31, 2024
Lease incentives | $ | 47,695 |  |  | $ | 56,812 |
Deferred tax assets | 34,681 |  |  | 42,893 |
Operating lease assets | 27,592 |  |  | 28,729 |
Financing receivable resulting from failed sale-leaseback transactions | 21,215 |  |  | 28,412 |
Maintenance right assets | 16,658 |  |  | 25,907 |
Engine management contract assets | 9,550 |  |  | 7,162 |
Other | 8,903 |  |  | 18,515 |
Other non-current assets | $ | 166,294 |  |  | $ | 208,430 |
Schedule of Other Current Liabilities | Other current liabilities are summarized as follows:
| June 30, 2025 (unaudited) |  | December 31, 2024
Deposits on sales of leasing equipment | 34,216 |  |  | $ | 87,296 |
Other | 9,406 |  |  | 13,269 |
Other current liabilities | $ | 43,622 |  |  | $ | 100,565 |
Schedule of Assets and Liabilities Held for Sale | Assets and liabilities held for sale are summarized as follows (unaudited):
| June 30, 2025
Leasing equipment, net | $ | 120,773 |
Intangible assets, net | 158 |
Other non-current assets | 917 |
Assets held for sale | $ | 121,848 |
Current maintenance deposits | $ | 19,322 |
Current security deposits | — |
Non-current maintenance deposits | 3,456 |
Non-current security deposits | 2,738 |
Other non-current liabilities | 5,367 |
Liabilities held for sale | $ | 30,883 |
Schedule of Cash and Noncash Related Activities | The cash and noncash related activities described above during the six months ended June 30, 2025 and 2024 are detailed below (unaudited):
| Six Months Ended June 30,
(in thousands) | 2025 |  | 2024
Cost of modules and parts sold sourced from engines originally within leasing equipment | $ | 3,369 |  |  | $ | 21,861 |
Transfers of engines from leasing equipment to inventory for manufacturing and sale | 128,752 |  |  | 70,897 |
Transfers of inventory to leasing equipment for rebuilding and sale of engines | (159,997) |  |  | (98,192) |
Total outflows related to manufacturing modules and parts - included in net cash used in operating activities | (313,998) |  |  | (128,988) |
Cash received for assets sold sourced from leasing equipment - inflow included in net cash provided by operating activities | 43,011 |  |  | 38,649 |
Cash received for sales of leasing equipment that include components sourced from inventory - inflow included in net cash provided by investing activities | 415,416 |  |  | 134,204 |
Cash paid for engine and aircraft inventory - outflow included in net cash used in operating activities | (25,715) |  |  | — |

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