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CONSOLIDATED STATEMENTS OF CASH FLOWS
$ in Thousands
 12 Months Ended
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Operating Activities      
Net (loss)/income $ (97,024) $ 436,632 $ 516,264
Adjustments to reconcile net (loss)/income to net cash provided by operating activities:      
Depreciation of flight equipment 965,955 882,562 780,691
Write-off of Russian fleet, net of recoveries 771,476 0 0
Stock-based compensation expense 15,603 26,516 17,628
Deferred taxes (43,492) 97,446 166,467
Amortization of prepaid lease costs 47,849 46,547 43,224
Amortization of discounts and debt issuance costs 53,254 50,620 43,025
Gain on aircraft sales, trading and other activity (113,103) (46,109) (34,654)
Changes in operating assets and liabilities:      
Other assets (232,613) (176,391) (415,347)
Accrued interest and other payables 255 63,112 (22,810)
Rentals received in advance 13,990 (4,099) (4,302)
Net cash provided by operating activities 1,382,150 1,376,836 1,090,186
Investing Activities      
Acquisition of flight equipment under operating lease (2,904,723) (2,506,175) (1,631,551)
Payments for deposits on flight equipment purchases (518,270) (496,838) (885,679)
Proceeds from aircraft sales, trading and other activity 235,424 137,887 151,132
Acquisition of aircraft furnishings, equipment and other assets (216,635) (229,654) (160,993)
Net cash used in investing activities (3,404,204) (3,094,780) (2,527,091)
Financing Activities      
Issuance of common stock upon exercise of options 0 1,438 6,569
Net proceeds from preferred stock issuance 0 591,340 0
Cash dividends paid on Class A common stock (83,253) (73,001) (68,183)
Common shares repurchased (150,000) (5,780) 0
Cash dividends paid on preferred stock (41,700) (28,473) (15,375)
Tax withholdings on stock-based compensation (8,903) (7,441) (8,618)
Net change in unsecured revolving facilities 1,020,000 0 (20,000)
Proceeds from debt financings 2,659,996 3,655,830 4,659,762
Payments in reduction of debt financings (2,085,898) (3,194,482) (1,728,029)
Debt issuance costs (6,827) (10,245) (8,102)
Security deposits and maintenance reserve receipts 417,224 174,521 114,596
Security deposits and maintenance reserve disbursements (26,860) (35,238) (76,009)
Net cash provided by financing activities 1,693,779 1,068,469 2,856,611
Net decrease in cash (328,275) (649,475) 1,419,706
Cash, cash equivalents and restricted cash at beginning of period 1,108,292 1,757,767 338,061
Cash, cash equivalents and restricted cash at end of period 780,017 1,108,292 1,757,767
Supplemental Disclosure of Cash Flow Information      
Cash paid during the period for interest, including capitalized interest of $39,655, $49,070 and $53,163 at December 31, 2022, 2021 and 2020, respectively 533,897 508,616 449,662
Cash paid for income taxes 6,362 5,734 29,733
Supplemental Disclosure of Noncash Activities      
Buyer furnished equipment, capitalized interest and deposits on flight equipment purchases applied to acquisition of flight equipment 914,501 1,009,554 782,896
Cash dividends declared on common stock, not yet paid $ 22,178 $ 21,088 $ 18,216