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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating Activities    
Net income $ 314,783 $ 393,571
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of flight equipment 849,374 795,659
Stock-based compensation expense 25,031 23,330
Deferred taxes 77,324 91,410
Amortization of discounts and debt issuance costs 40,772 40,414
Amortization of prepaid lease costs 77,271 54,962
Gain on aircraft sales, trading and other activity (149,018) (147,174)
Changes in operating assets and liabilities:    
Other assets (3,509) 40,496
Accrued interest and other payables 29,494 (6,380)
Rentals received in advance (14,467) (3,982)
Net cash provided by operating activities 1,247,055 1,282,306
Investing Activities    
Acquisition of flight equipment under operating lease (2,816,375) (2,782,507)
Payments for deposits on flight equipment purchases (461,788) (249,231)
Proceeds from aircraft sales, trading and other activity 884,045 1,568,420
Acquisition of aircraft furnishings, equipment and other assets (284,050) (205,368)
Net cash used in investing activities (2,678,168) (1,668,686)
Financing Activities    
Net proceeds from preferred stock issuance 295,532 0
Cash dividends paid on Class A common stock (70,092) (66,587)
Cash dividends paid on preferred stock (35,258) (31,275)
Tax withholdings on stock-based compensation (9,384) (3,354)
Net change in unsecured revolving facility 186,000 758,000
Proceeds from debt financings 3,541,706 1,783,973
Payments in reduction of debt financings (2,781,604) (2,566,518)
Debt issuance costs (10,626) (10,590)
Security deposits and maintenance reserve receipts 328,351 269,171
Security deposits and maintenance reserve disbursements (12,654) (10,723)
Net cash provided by financing activities 1,431,971 122,097
Net increase/(decrease) in cash 858 (264,283)
Cash, cash equivalents and restricted cash at beginning of period 464,492 780,017
Cash, cash equivalents and restricted cash at end of period 465,350 515,734
Supplemental Disclosure of Cash Flow Information    
Cash paid during the period for interest, including capitalized interest of $32,859 and $31,708 at September 30, 2024 and 2023, respectively 590,697 532,922
Cash paid for income taxes 22,746 6,250
Supplemental Disclosure of Noncash Activities    
Buyer furnished equipment, capitalized interest and deposits on flight equipment purchases applied to acquisition of flight equipment and other assets 838,170 620,280
Flight equipment subject to operating leases reclassified to flight equipment held for sale 1,143,096 1,411,564
Flight equipment subject to operating leases reclassified to investment in sales-type lease 74,017 33,641
Cash dividends declared on Class A common stock, not yet paid $ 23,389 $ 22,205