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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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Equity Method Investments Financial Information

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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

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