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Consolidated Statements of Cash Flows
$ in Thousands
 12 Months Ended
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Cash flows from operating activities:      
Net income (loss) $ 518,195 $ 474,089 $ 746,922
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization 541,468 575,551 634,837
Amortization of deferred debt cost and other debt related amortization 10,495 8,572 11,112
Lease related amortization 2,031 4,979 11,285
Other non-cash compensation costs 3,840 7,305 12,512
Net (gain) loss on sale of leasing equipment (12,369) (58,615) (115,665)
Net (gain) loss on sale of building 40 (15) (343)
Debt termination expense 87 0 1,933
Deferred income taxes (2,363) 8,024 26,018
Changes in operating assets and liabilities:      
Accounts receivable, net 16,485 (19,459) 44,119
Deferred revenue (74,263) (74,237) 287,328
Accounts payable and other accrued expenses (29,654) 25,056 4,620
Equipment sold (purchased) for resale activity 7,486 26,428 (93)
Cash received (paid) for settlement of interest rate swaps 0 0 19,026
Cash collections on finance lease receivables, net of income earned 122,202 172,717 180,075
Other assets 9,688 (187) 21,182
Net cash provided by (used in) operating activities 1,113,368 1,150,208 1,884,868
Cash flows from investing activities:      
Purchases of leasing equipment and investments in finance leases (929,449) (208,242) (943,062)
Proceeds from sale of equipment, net of selling costs 374,632 352,549 296,737
Other (291) (16) (638)
Net cash (used in) investing activities (555,108) 144,291 (646,963)
Cash flows from financing activities:      
Debt issuance costs (19,239) (3,008) (10,162)
Borrowings under debt facilities 2,780,483 1,610,000 1,952,600
Payments under debt facilities and finance lease obligations (2,641,360) (2,227,139) (2,449,367)
Dividends paid on preferred shares (52,112) (52,112) (52,112)
Repayment Of Capital To Parent (605,542) (408,190) 0
Common stock dividends paid 0 (115,554) (162,174)
Purchases of Treasury Shares 0 (129,776) (554,095)
Dividends paid on common shares to Parent 0 (5,803) (6,824)
Net Cash Provided by (Used in) Financing Activities (537,770) (1,331,582) (1,282,134)
Net increase (decrease) in cash, cash equivalents and restricted cash 20,490 (37,083) (44,229)
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Beginning Balance 149,226 186,309 230,538
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Ending Balance 169,716 149,226 186,309
Supplemental disclosures:      
Interest paid 249,754 234,945 208,714
Income taxes (refunded) paid 51,139 46,407 47,010
Right-of-use assets obtained in exchange for new operating lease liabilities 2,525 9,564 907
Supplemental non-cash investing activities:      
Equipment purchases payable $ 4,855 $ 31,597 $ 11,817