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ACQUISITION OF LOCKHEED MARTIN COMMERCIAL ENGINE SOLUTIONS (Tables)
 6 Months Ended
Jun. 30, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Schedule of Business Combination, Recognized Asset Acquired and Liability Assumed
The following table summarizes the allocation of the net assets acquired:
September 9, 2024
Fair value of assets acquired:
Current Assets
Accounts receivable$10,758 
Inventory25,498 
Other current assets6,795 
Total current assets43,051 
Property, plant, and equipment72,151 
Leasing equipment5,675 
Other non-current assets10,633 
Total assets131,510 
Fair value of liabilities assumed:
Current Liabilities
Accounts payable7,669 
Accrued liabilities1,692 
Other current liabilities5,130 
Total current liabilities14,491 
Other non-current liabilities 14,347 
Total liabilities28,838 
Goodwill (1)
71,040 
Net assets acquired (2)
$173,712 
________________________________________________________
(1) Goodwill is primarily attributable to the assembled workforce of FTAIC and the synergies expected to be achieved. This goodwill is assigned to the Aerospace Products segment and is deductible for income tax purposes.
(2) Total consideration is calculated as cash paid, adjusted for the settlement of pre-existing relationships.
Schedule of Property Plant And Equipment Acquired as Part of Business Combination
The following table presents fair values of the components of property, plant and equipment acquired and their estimated useful lives:
Estimated useful life in yearsEstimated Fair value
Buildings and improvements
25
$40,953 
Machinery and equipment
2 - 21
30,397 
Other N/A801 
Total$72,151 
Schedule of Business Combination, Pro Forma Information
The following unaudited pro forma financial information is presented for informational purposes only and is not indicative of the results of operations that would have been achieved if the acquisition had taken place as of January 1, 2024.
Three Months Ended Six Months Ended
June 30, 2024June 30, 2024
Total revenue$466,007 $804,283 
Net income attributable to shareholders$(225,945)$(193,843)