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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities:    
Net income $ 101,570 $ 87,551
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 81,236 68,303
Gain on sale of leased equipment (48,153) (33,148)
Gain on sale of business (42,950) 0
Stock-based compensation expense 34,939 18,351
Write-down of equipment 23,768 866
Income from joint ventures (9,625) (7,255)
Accretion of deferred costs and note discounts 8,010 7,723
Payments received on sales-type leases 5,709 28,910
Loss on derivative instruments 2,980 0
Loss on debt extinguishment (2,963) 0
Amortization of contract asset 1,497 1,504
Gain on sale of financial assets (378) 0
Allowances and provisions 247 (671)
Loss on disposal of property, equipment and furnishings 45 0
Gain on insurance proceeds 0 (73)
Deferred income taxes 40,766 32,881
Changes in assets and liabilities:    
Receivables (5,839) 22,219
Inventory 14,935 (37,189)
Other assets (4,049) (3,671)
Distributions received from joint ventures 0 3,002
Accounts payable and accrued expenses (12,472) 11,532
Maintenance reserves 16,156 16,205
Security deposits 1,779 3,413
Unearned revenue (4,061) (4,013)
Net cash provided by operating activities 209,073 216,440
Cash flows from investing activities:    
Purchase of equipment held for operating lease and for sale (310,637) (488,438)
Proceeds from sale of equipment (net of selling expenses) 194,263 117,852
Proceeds from sale of business 21,938 0
Purchase of property, equipment and furnishings (23,165) (2,753)
Payments received on notes receivable 12,932 6,780
Contributions to joint ventures (3,528) 0
Issuance of notes receivable 0 (89,635)
Insurance proceeds received on property, equipment and furnishings 0 1,235
Net cash used in investing activities (108,197) (454,959)
Cash flows from financing activities:    
Proceeds from debt obligations 1,005,051 518,894
Principal payments on debt obligations (1,029,826) (331,218)
Proceeds from issuance of preferred stock 0 13,050
Cancellation of restricted stock units in satisfaction of withholding tax (18,734) (7,240)
Debt issuance costs (9,149) (5,819)
Common stock cash dividends paid (5,661) (8,926)
Preferred stock dividends (4,342) (3,388)
Proceeds from shares issued under stock compensation plans 250 261
Net cash (used in) provided by financing activities (62,411) 175,614
Increase (decrease) in cash, cash equivalents and restricted cash 38,465 (62,905)
Cash, cash equivalents and restricted cash at beginning of period 132,502 168,029
Cash, cash equivalents and restricted cash at end of period 170,967 105,124
Net cash paid for:    
Interest 101,002 73,374
Income Taxes 3,469 5,827
Supplemental disclosures of non-cash activities:    
Transfers from Equipment held for operating lease to Equipment held for sale 38,199 17,524
Transfer from Notes receivable to Equipment held for operating lease 24,544 0
Contributions to joint ventures 22,500 0
Proceeds from sale of business 22,500 0
Additions to Equipment held for operating lease [1] 8,145 54,606
Transfers from Spare parts inventory to Equipment held for sale 3,975 0
Transfers from Equipment held for sale to Equipment held for operating lease 1,381 0
Transfers from Notes receivable to Equipment held for sale 1,374 0
Transfers from Equipment held for operating lease to Spare parts inventory 471 460
Accretion of preferred stock issuance costs 209 39
Transfers from Equipment held for operating lease to Investments in sales-type leases 0 43,370
Transfers from Spare parts inventory to Equipment held for operating lease $ 0 $ 4,514
[1] During the nine months ended September 30, 2025, the Company engaged in exchange transactions with a third party in which the Company sold aircraft engines in exchange for aircraft engines. The transactions were accounted for under Accounting Standards Codification (“ASC”) 805 and ASC 845 and resulted in $8.1 million in non-cash additions to equipment held for operating lease for the associated total gain. During the nine months ended September 30, 2024, the Company engaged in exchange transactions involving monetary consideration with third parties in which the Company sold aircraft engines in exchange for the purchase of aircraft engines. These transactions were accounted for under ASC 805 and ASC 845 and resulted in a total of $4.4 million in non-cash additions to equipment held for operating lease for the associated total gain. In addition, the Company had $50.3 million in non-cash additions to equipment held for operating lease related to purchases included in accrued expenses.