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INVESTMENTS (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2024
Equity Method Investments and Joint Ventures [Abstract] |
Equity Method Investments | The following table presents the ownership interests and carrying values of our investments:
|  |  |  |  | Carrying Value
| Investment |  | Ownership Percentage |  | March 31, 2024 |  | December 31, 2023
Intermodal Finance I, Ltd. | Equity method |  | 51.0% |  | $ | — |  |  | $ | — |
Long Ridge Energy & Power LLC (1) | Equity method |  | 50.1% |  | — |  |  | — |
Long Ridge West Virginia LLC | Equity method |  | 50.1% |  | 6,713 |  |  | 6,825 |
GM-FTAI Holdco LLC | Equity method |  | See below |  | 51,255 |  |  | 55,740 |
Clean Planet Energy USA LLC | Equity method |  | 50.0% |  | 10,117 |  |  | 10,136 |
|  |  |  |  | $ | 68,085 |  |  | $ | 72,701 |
________________________________________________________ (1) The carrying value of $(54.8) million and $(29.3) million as of March 31, 2024 and December 31, 2023, respectively, is included in Other liabilities in the Consolidated Balance Sheets. The following table presents our proportionate share of equity in (losses) earnings:
| Three Months Ended March 31, |  |
| 2024 |  | 2023 |  |  |  |
Intermodal Finance I, Ltd. | $ | 9 |  |  | $ | 21 |  |  |  |  |
Long Ridge Energy & Power LLC | (6,675) |  |  | 7,761 |  |  |  |  |
Long Ridge West Virginia LLC | (362) |  |  | — |  |  |  |  |
GM-FTAI Holdco LLC | (4,486) |  |  | (2,341) |  |  |  |  |
Clean Planet Energy USA LLC | (388) |  |  | (1,075) |  |  |  |  |
Total | $ | (11,902) |  |  | $ | 4,366 |  |  |  |  |
Equity Method Investments Financial Information | The tables below present summarized financial information for Long Ridge Energy & Power LLC:
| (Unaudited) |  |
| March 31, 2024 |  | December 31, 2023
Balance Sheet |  |  |
Assets |  |  |
Current assets: |  |  |
Cash and cash equivalents | $ | 3,185 |  |  | $ | 3,362 |
Restricted cash | 20,455 |  |  | 23,691 |
Accounts receivable, net | 7,052 |  |  | 5,633 |
Other current assets | 6,226 |  |  | 7,357 |
Total current assets | 36,918 |  |  | 40,043 |
Property, plant, and equipment, net | 825,901 |  |  | 828,232 |
Intangible assets, net | 4,085 |  |  | 4,180 |
Goodwill | 86,460 |  |  | 86,460 |
Other assets | 4,583 |  |  | 4,041 |
Total assets | $ | 957,947 |  |  | $ | 962,956 |
Liabilities |  |  |
Current liabilities: |  |  |
Accounts payable and accrued liabilities | $ | 42,333 |  |  | $ | 49,538 |
Debt, net | 4,450 |  |  | 4,450 |
Derivative liabilities | 47,002 |  |  | 39,891 |
Other current liabilities | 2,752 |  |  | 2,136 |
Total current liabilities | 96,537 |  |  | 96,015 |
Debt, net | 711,293 |  |  | 699,372 |
Derivative liabilities | 396,715 |  |  | 360,710 |
Other liabilities | 6,986 |  |  | 4,941 |
Total liabilities | 1,211,531 |  |  | 1,161,038 |
Equity |  |  |
Total equity | (253,584) |  |  | (198,082) |
Total liabilities and equity | $ | 957,947 |  |  | $ | 962,956 |
| Three Months Ended March 31, |  |
Income Statement | 2024 |  | 2023 |  |  |  |
Revenue | $ | 29,306 |  |  | $ | 56,405 |  |  |  |  |
Expenses |  |  |  |  |  |  |
Operating expenses | 13,860 |  |  | 13,214 |  |  |  |  |
Depreciation and amortization | 12,007 |  |  | 13,364 |  |  |  |  |
Interest expense | 16,782 |  |  | 14,440 |  |  |  |  |
Total expenses | 42,649 |  |  | 41,018 |  |  |  |  |
Total other (expense) income | (13) |  |  | 105 |  |  |  |  |
Net (loss) income | $ | (13,356) |  |  | $ | 15,492 |  |  |  |  |

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- Definition Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3 + Details
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