Fortress Transportation and Infrastructure Investors LLC(NASDAQ:FTAI)
Fortress Transportation and Infrastructure Investors LLC owns and acquires infrastructure and related equipment for the transportation of goods and people in Africa, Asia, Europe, North America, and South America. It operates through three segments: Aviation Leasing, Jefferson Terminal, and Ports an...
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At a glance:
Bull Thesis:
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Quarterly
Annual
| Unit: USD | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 | 2019-06-30 | 2019-03-31 | 2018-12-31 | 2018-09-30 | 2018-06-30 | 2018-03-31 | 2017-12-31 | 2017-09-30 | 2017-06-30 | 2017-03-31 | 2016-12-31 | 2016-09-30 | 2016-06-30 | 2016-03-31 | 2015-12-31 | 2015-09-30 | 2015-06-30 | 2015-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
total revenues | 662,028,000 | 667,064,000 | 676,237,000 | 502,080,000 | 498,819,000 | 465,794,000 | 443,594,000 | 326,694,000 | 312,737,000 | 291,096,000 | 274,345,000 | 292,718,000 | 274,291,000 | 230,365,000 | 177,932,000 | 137,839,000 | 145,776,000 | 135,962,000 | 96,915,000 | 77,149,000 | 75,638,000 | 83,709,000 | 94,309,000 | 112,840,000 | 132,921,000 | 162,221,000 | 159,005,000 | 124,627,000 | 137,900,000 | 101,155,000 | 71,979,000 | 68,844,000 | 61,430,000 | 60,362,000 | 51,194,000 | 44,673,000 | 42,346,000 | 41,726,000 | 33,195,000 | 31,453,000 | 33,798,000 | 35,233,000 | 33,564,000 | 33,973,000 |
yoy | 32.72% | 43.21% | 52.45% | 53.69% | 59.50% | 60.01% | 61.69% | 11.61% | 14.02% | 26.36% | 54.19% | 112.36% | 88.16% | 69.43% | 83.60% | 78.67% | 92.73% | 62.42% | 2.76% | -31.63% | -43.10% | -48.40% | -40.69% | -9.46% | -3.61% | 60.37% | 120.90% | 81.03% | 124.48% | 67.58% | 40.60% | 54.11% | 45.07% | 44.66% | 54.22% | 42.03% | 25.29% | 18.43% | -1.10% | -7.42% | ||||
qoq | -0.75% | -1.36% | 34.69% | 0.65% | 7.09% | 5.00% | 35.78% | 4.46% | 7.43% | 6.11% | -6.28% | 6.72% | 19.07% | 29.47% | 29.09% | -5.44% | 7.22% | 40.29% | 25.62% | 2.00% | -9.64% | -11.24% | -16.42% | -15.11% | -18.06% | 2.02% | 27.58% | -9.63% | 36.33% | 40.53% | 4.55% | 12.07% | 1.77% | 17.91% | 14.60% | 5.50% | 1.49% | 25.70% | 5.54% | -6.94% | -4.07% | 4.97% | -1.20% | |
aerospace products revenue | 456,139,000 | 459,206,000 | 420,686,000 | 365,063,000 | 342,095,000 | 303,469,000 | 245,200,000 | 189,057,000 | 194,697,000 | 107,085,000 | 68,075,000 | 85,113,000 | ||||||||||||||||||||||||||||||||
mre contract revenue | 106,902,000 | 58,663,000 | 69,585,000 | |||||||||||||||||||||||||||||||||||||||||
lease income | 49,259,000 | 55,072,000 | 62,439,000 | 68,471,000 | 65,973,000 | 65,450,000 | 70,754,000 | 53,161,000 | 46,795,000 | 45,622,000 | 59,541,000 | 55,978,000 | ||||||||||||||||||||||||||||||||
maintenance revenue | 43,418,000 | 52,370,000 | 73,104,000 | 49,607,000 | 43,915,000 | 59,917,000 | 51,187,000 | 45,790,000 | 50,216,000 | 63,925,000 | 42,065,000 | 35,141,000 | ||||||||||||||||||||||||||||||||
asset sales revenue | 1,630,000 | 38,461,000 | 47,915,000 | 18,939,000 | 46,183,000 | 34,953,000 | 72,433,000 | 38,607,000 | 19,974,000 | 72,990,000 | 101,486,000 | 108,691,000 | ||||||||||||||||||||||||||||||||
other revenue | 4,680,000 | 3,292,000 | 2,508,000 | 653,000 | 2,005,000 | 4,020,000 | 79,000 | 1,055,000 | 1,474,000 | 3,178,000 | 7,795,000 | |||||||||||||||||||||||||||||||||
expenses | ||||||||||||||||||||||||||||||||||||||||||||
cost of sales | 368,825,000 | 362,922,000 | 369,258,000 | 248,714,000 | 257,727,000 | 219,496,000 | 205,857,000 | 142,804,000 | 135,223,000 | 116,707,000 | 104,532,000 | 145,670,000 | 128,246,000 | 95,948,000 | ||||||||||||||||||||||||||||||
gross profit | 293,203,000 | 304,142,000 | 306,979,000 | 253,366,000 | 241,092,000 | 246,298,000 | 237,737,000 | 183,890,000 | 177,514,000 | 174,389,000 | 169,813,000 | 147,048,000 | 146,045,000 | 134,417,000 | ||||||||||||||||||||||||||||||
yoy | 21.61% | 23.49% | 29.13% | 37.78% | 35.82% | 41.23% | 40.00% | 25.05% | 21.55% | 29.74% | ||||||||||||||||||||||||||||||||||
qoq | -3.60% | -0.92% | 21.16% | 5.09% | -2.11% | 3.60% | 29.28% | 3.59% | 1.79% | 2.69% | 15.48% | 0.69% | 8.65% | |||||||||||||||||||||||||||||||
gross margin % | 44.29% | 45.59% | 45.40% | 50.46% | 48.33% | 52.88% | 53.59% | 56.29% | 56.76% | 59.91% | 61.90% | 50.24% | 53.24% | 58.35% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
operating expenses | 46,683,000 | 39,092,000 | 34,328,000 | 32,438,000 | 34,587,000 | 26,858,000 | 29,099,000 | 25,317,000 | 28,945,000 | 33,887,000 | 24,797,000 | 22,534,000 | 24,067,000 | 27,393,000 | 84,004,000 | 108,916,000 | 63,491,000 | 52,793,000 | 31,183,000 | 24,997,000 | 28,368,000 | 23,128,000 | 24,572,000 | 33,444,000 | 43,987,000 | 89,368,000 | 92,763,000 | 61,918,000 | 70,675,000 | 41,667,000 | 27,593,000 | 27,579,000 | 26,360,000 | 23,688,000 | 21,324,000 | 21,013,000 | 17,232,000 | 17,028,000 | 17,551,000 | 14,358,000 | 18,595,000 | 17,879,000 | 17,600,000 | 14,719,000 |
general and administrative | 2,091,000 | 1,829,000 | 2,442,000 | 3,116,000 | 3,566,000 | 4,045,000 | 2,969,000 | 3,683,000 | 3,430,000 | 3,015,000 | 3,188,000 | 4,067,000 | 2,343,000 | 3,354,000 | 5,004,000 | 5,691,000 | 5,080,000 | 4,422,000 | 3,655,000 | 4,252,000 | 4,867,000 | 4,241,000 | 4,388,000 | 4,663,000 | 5,128,000 | 6,284,000 | 4,297,000 | 4,732,000 | 4,955,000 | 4,012,000 | 4,573,000 | 3,586,000 | 3,955,000 | 3,439,000 | 3,341,000 | 3,835,000 | 3,160,000 | 3,205,000 | 3,361,000 | 2,588,000 | 2,663,000 | 2,568,000 | 1,989,000 | 348,000 |
acquisition and transaction expenses | 9,740,000 | 7,066,000 | 4,489,000 | 7,292,000 | 8,757,000 | 9,341,000 | 8,019,000 | 6,179,000 | 4,999,000 | 4,261,000 | 2,672,000 | 3,262,000 | 4,867,000 | 2,848,000 | 9,626,000 | 6,024,000 | 8,769,000 | 7,130,000 | 4,399,000 | 1,643,000 | 571,000 | 2,442,000 | 3,661,000 | 3,194,000 | 8,223,000 | 5,618,000 | 2,308,000 | 1,474,000 | 2,234,000 | 1,460,000 | 1,508,000 | 1,766,000 | 2,242,000 | 1,732,000 | 1,880,000 | 1,452,000 | 1,694,000 | 1,688,000 | 1,875,000 | 1,059,000 | 1,511,000 | 2,206,000 | 1,598,000 | 368,000 |
management fees and incentive allocation to affiliate | 3,554,000 | 4,895,000 | 4,900,000 | 4,577,000 | 5,563,000 | 2,997,000 | 3,558,000 | 4,000 | 3,062,000 | 4,164,000 | 4,374,000 | 3,845,000 | 4,113,000 | 3,990,000 | 4,406,000 | 4,591,000 | 4,756,000 | 4,766,000 | 19,133,000 | 7,378,000 | 5,710,000 | 3,838,000 | 3,646,000 | 3,846,000 | 4,495,000 | 3,739,000 | 4,203,000 | 3,771,000 | 3,865,000 | 3,893,000 | 4,017,000 | 4,146,000 | 4,231,000 | 4,348,000 | 4,513,000 | 4,606,000 | 3,485,000 | |||||||
internalization fee to affiliate | 300,000,000 | |||||||||||||||||||||||||||||||||||||||||||
depreciation and amortization | 55,721,000 | 55,278,000 | 55,236,000 | 59,562,000 | 54,678,000 | 56,775,000 | 56,691,000 | 49,920,000 | 46,478,000 | 43,959,000 | 38,514,000 | 40,926,000 | 37,456,000 | 34,853,000 | 56,622,000 | 58,301,000 | 56,482,000 | 53,368,000 | 47,371,000 | 44,535,000 | 45,857,000 | 42,626,000 | 41,720,000 | 42,197,000 | 43,146,000 | 43,744,000 | 42,600,000 | 39,533,000 | 39,501,000 | 34,422,000 | 32,844,000 | 29,587,000 | 25,728,000 | 24,784,000 | 20,221,000 | 17,377,000 | 16,916,000 | 15,376,000 | 14,701,000 | 13,217,000 | 12,433,000 | 11,548,000 | 10,765,000 | 10,562,000 |
asset impairment | 962,000 | 901,000 | 1,220,000 | 9,048,000 | 4,495,000 | 886,000 | 122,790,000 | 7,415,000 | 859,000 | 89,000 | 2,100,000 | 19,587,000 | 3,915,000 | 10,476,000 | -7,450,000 | |||||||||||||||||||||||||||||
total expenses | 483,060,000 | 466,187,000 | 465,753,000 | 351,122,000 | 340,610,000 | 316,515,000 | 661,385,000 | 281,467,000 | 268,539,000 | 246,591,000 | 217,765,000 | 259,968,000 | 246,582,000 | 209,066,000 | 213,577,000 | 356,484,000 | 191,653,000 | 176,917,000 | 128,314,000 | 114,507,000 | 130,303,000 | 107,847,000 | 111,367,000 | 111,125,000 | 142,939,000 | 177,880,000 | 173,150,000 | 132,798,000 | 138,995,000 | 100,549,000 | 83,870,000 | 78,128,000 | 80,023,000 | 66,328,000 | 58,315,000 | 52,264,000 | 46,137,000 | 46,859,000 | 46,839,000 | 40,873,000 | 44,786,000 | 43,475,000 | 40,194,000 | 33,226,000 |
other income | 9,789,000 | 3,570,000 | 27,156,000 | 43,941,000 | 14,319,000 | 2,909,000 | -498,000 | 634,000 | 6,713,000 | 461,000 | 408,000 | 8,000 | -1,000 | -1,038,000 | -459,000 | -2,157,000 | -8,068,000 | -884,000 | 181,000 | 38,000 | -1,000 | 33,000 | -20,000 | 1,131,000 | 4,938,000 | -2,604,000 | 1,867,000 | 737,000 | 1,157,000 | 180,000 | 893,000 | 2,148,000 | 20,000 | 12,000 | 19,000 | 485,000 | 58,000 | 40,000 | 20,000 | 15,000 | -6,000 | |||
interest expense | -60,962,000 | -60,784,000 | -63,965,000 | -62,040,000 | -60,881,000 | -57,937,000 | 55,196,000 | 47,707,000 | 43,663,000 | 40,185,000 | 38,499,000 | 39,292,000 | 36,997,000 | 40,171,000 | 54,373,000 | 50,598,000 | 46,042,000 | 54,500,000 | 37,504,000 | 32,990,000 | 26,647,000 | 26,904,000 | 21,794,000 | 22,861,000 | 23,322,000 | 25,488,000 | 25,472,000 | 21,303,000 | 17,984,000 | 15,142,000 | 12,857,000 | 11,871,000 | 17,535,000 | 8,914,000 | 7,684,000 | 4,694,000 | 3,118,000 | 5,416,000 | 5,120,000 | 5,303,000 | 5,071,000 | 4,668,000 | 4,757,000 | 4,815,000 |
loss on extinguishment of debt | -3,181,000 | -13,920,000 | 2,000 | -19,861,000 | -3,254,000 | -6,943,000 | -4,724,000 | -2,456,000 | -1,579,000 | |||||||||||||||||||||||||||||||||||
equity in losses of unconsolidated entities | 10,023,000 | -4,224,000 | -5,003,000 | -7,614,000 | -694,000 | -667,000 | -244,000 | -358,000 | -13,823,000 | -2,874,000 | -4,082,000 | -7,152,000 | 406,000 | -2,501,000 | -3,209,000 | -848,000 | -974,000 | -169,000 | -251,000 | -333,750 | -1,161,000 | |||||||||||||||||||||||
gain on sale to the 2025 partnership | -3,703,000 | 4,609,000 | 34,604,000 | |||||||||||||||||||||||||||||||||||||||||
total other expense | -22,437,500 | -56,829,000 | -7,208,000 | -25,713,000 | -50,144,000 | -55,466,000 | -33,000 | -6,849,000 | -6,204,000 | |||||||||||||||||||||||||||||||||||
income before income taxes | 134,115,000 | 144,048,000 | 203,276,000 | 125,245,000 | -23,474,000 | 93,813,000 | -232,903,000 | 45,194,000 | 13,171,000 | -226,173,000 | 6,457,750 | 21,680,000 | 13,494,000 | -9,343,000 | -853,000 | 1,274,000 | -5,915,000 | -8,838,000 | -6,179,000 | -762,000 | -5,345,000 | -9,000,000 | -5,746,000 | -5,563,000 | -19,878,000 | -9,143,000 | -9,307,000 | -15,906,000 | -5,004,000 | 2,172,000 | ||||||||||||||
provision for income taxes | 18,553,000 | 26,330,000 | 37,878,000 | 22,859,000 | 5,617,000 | 7,331,000 | -13,033,000 | 5,572,000 | -67,386,000 | 3,705,000 | 1,855,000 | 2,026,000 | -2,057,000 | 4,189,000 | 3,411,000 | 3,486,000 | 169,000 | 429,000 | -2,486,000 | -98,000 | 18,652,000 | 1,004,000 | -2,299,000 | -208,000 | 551,000 | 534,000 | 495,000 | 464,000 | 212,000 | 178,000 | -60,000 | 150,000 | 266,000 | 230,000 | ||||||||||
net income | 115,562,000 | 117,718,000 | 165,398,000 | 102,386,000 | 102,448,000 | 86,482,000 | -219,870,000 | 39,622,000 | 118,360,000 | 41,307,000 | 54,753,000 | 29,397,000 | 26,801,000 | -18,929,000 | 9,760,000 | -229,659,000 | -19,779,000 | -39,443,000 | -36,608,000 | -34,876,000 | -59,695,000 | -25,209,000 | -15,728,000 | -3,060,000 | 181,111,000 | 20,676,000 | 15,793,000 | -9,796,000 | -645,000 | 723,000 | -6,449,000 | -9,333,000 | -6,548,000 | -1,671,000 | -5,809,000 | -9,212,000 | -5,819,000 | -5,646,000 | -20,056,000 | -9,077,000 | -9,247,000 | -16,056,000 | -5,270,000 | 1,942,000 |
yoy | 12.80% | 36.12% | -175.23% | 158.41% | -13.44% | 109.36% | -501.57% | 34.78% | 341.63% | -318.22% | 460.99% | -112.80% | -235.50% | -52.01% | -126.66% | 558.50% | -66.87% | 56.46% | 132.76% | 1039.74% | -132.96% | -221.92% | -199.59% | -68.76% | -28179.22% | 2759.75% | -344.89% | 4.96% | -90.15% | -143.27% | 11.02% | 1.31% | 12.53% | -70.40% | -71.04% | 1.49% | -37.07% | -64.84% | 280.57% | -567.40% | ||||
qoq | -1.83% | -28.83% | 61.54% | -0.06% | 18.46% | -139.33% | -654.92% | -66.52% | 186.54% | -24.56% | 86.25% | 9.69% | -241.59% | -293.94% | -104.25% | 1061.13% | -49.85% | 7.74% | 4.97% | -41.58% | 136.80% | 60.28% | 413.99% | -101.69% | 775.95% | 30.92% | -261.22% | 1418.76% | -189.21% | -111.21% | -30.90% | 42.53% | 291.86% | -71.23% | -36.94% | 58.31% | 3.06% | -71.85% | 120.95% | -1.84% | -42.41% | 204.67% | -371.37% | |
net income margin % | 17.46% | 17.65% | 24.46% | 20.39% | 20.54% | 18.57% | -49.57% | 12.13% | 37.85% | 14.19% | 19.96% | 10.04% | 9.77% | -8.22% | 5.49% | -166.61% | -13.57% | -29.01% | -37.77% | -45.21% | -78.92% | -30.12% | -16.68% | -2.71% | 136.25% | 12.75% | 9.93% | -7.86% | -0.47% | 0.71% | -8.96% | -13.56% | -10.66% | -2.77% | -11.35% | -20.62% | -13.74% | -13.53% | -60.42% | -28.86% | -27.36% | -45.57% | -15.70% | 5.72% |
less: dividends on preferred shares | 3,710,000 | 3,709,000 | 3,709,000 | 6,115,000 | 7,758,000 | 8,335,000 | 8,335,000 | 8,335,000 | 8,335,000 | 8,334,000 | 8,335,000 | 6,791,000 | 6,791,000 | 6,791,000 | 6,791,000 | 6,791,000 | 6,791,000 | 6,791,000 | 6,551,000 | 4,625,000 | ||||||||||||||||||||||||
less: loss on redemption of preferred shares | 6,327,000 | |||||||||||||||||||||||||||||||||||||||||||
net income attributable to shareholders | 111,852,000 | 114,009,000 | 161,689,000 | 89,944,000 | 86,692,000 | 78,147,000 | -228,205,000 | 31,287,000 | 110,025,000 | 32,973,000 | 46,418,000 | 22,606,000 | 11,449,000 | -60,523,000 | -25,958,000 | -15,695,000 | 183,647,000 | 25,671,000 | 20,332,000 | -6,380,000 | 1,037,000 | 4,578,000 | 839,000 | 3,010,000 | 2,998,000 | -1,813,000 | -1,276,000 | -11,193,000 | -5,782,000 | -4,699,000 | -11,738,000 | -837,000 | ||||||||||||
earnings per share: | ||||||||||||||||||||||||||||||||||||||||||||
basic | 0.893 | 1.11 | 1.58 | 0.88 | -0.293 | 0.76 | -2.26 | 0.31 | 0.24 | 0.01 | 0.05 | 0.01 | ||||||||||||||||||||||||||||||||
diluted | 0.88 | 1.1 | 1.57 | 0.87 | -0.293 | 0.76 | -2.26 | 0.31 | 0.24 | 0.01 | 0.05 | 0.01 | ||||||||||||||||||||||||||||||||
weighted-average shares outstanding: | ||||||||||||||||||||||||||||||||||||||||||||
basic | 102,563,486 | 102,569,415 | 102,558,777 | 102,552,436 | 101,538,835 | 102,380,659 | 100,958,524 | 100,245,905 | 99,908,214 | 99,927,594 | 99,732,179 | 99,728,245 | 99,421,008 | 99,378,771 | 99,370,301 | 99,366,877 | 89,922,088 | 88,277,897 | 86,030,652 | 86,027,944 | 86,015,702 | 86,022,302 | 86,009,959 | 86,008,099 | 85,992,019 | 85,996,067,000 | 85,987,769 | 85,986,453 | 83,654,068 | 84,708,071 | 83,160,037 | 81,534,454 | 75,766,811 | 75,770,529 | 75,762,283 | 75,738,698 | 75,746,200 | 67,039,439 | 75,718,183 | 62,879,023 | ||||
diluted | 103,846,914 | 103,966,650 | 103,147,860 | 103,159,051 | 101,538,835 | 103,395,348 | 100,958,524 | 100,960,065 | 100,425,777 | 100,482,309 | 100,462,277 | 100,974,100 | 99,421,008 | 99,378,771 | 99,805,455 | 99,366,877 | 89,922,088 | 88,277,897 | 86,030,652 | 86,027,944 | 86,015,702 | 86,022,302 | 86,009,959 | 86,008,099 | 86,029,363 | 86,005,604,000 | 85,989,029 | 85,986,453 | 83,664,833 | 84,709,656 | 83,160,047 | 81,534,454 | 75,766,811 | 75,770,665 | 75,762,283 | 75,738,698 | 75,746,200 | 67,039,439 | 75,718,183 | 62,879,023 | ||||
equity in earnings of unconsolidated entities | -449,750 | -438,000 | -417,250 | 46,000 | -380,000 | -1,335,000 | -24,013,000 | 1,374,000 | 265,000 | -149,500 | -442,000 | 95,000 | -1,266,000 | -259,000 | 85,000 | 162,000 | -9,584,000 | 1,225,000 | 1,241,000 | |||||||||||||||||||||||||
total other income | -15,112,000 | 6,776,000 | 507,000 | 28,000 | -1,327,000 | -2,965,000 | -21,257,000 | 48,816,000 | -7,528,000 | 27,006,000 | 1,018,000 | 2,651,000 | -4,601,000 | -3,557,000 | -2,420,000 | 136,319,000 | 37,339,000 | 27,639,000 | -1,172,000 | 242,000 | 668,000 | 5,976,000 | 446,000 | 12,414,000 | 5,204,000 | 1,776,000 | -1,409,000 | -1,955,000 | -430,000 | -6,234,000 | 277,000 | 1,681,000 | -7,664,000 | 1,626,000 | 1,425,000 | |||||||||
gain on sale of assets | -2,722,000 | 63,645,000 | 16,288,000 | 31,548,000 | 12,685,000 | 3,987,000 | 811,000 | 1,857,000 | -1,114,000 | 768,000 | -1,819,000 | |||||||||||||||||||||||||||||||||
income from continuing operations before income taxes | 50,974,000 | 45,012,000 | 56,608,000 | 31,423,000 | -32,513,750 | 42,000 | -59,266,000 | -27,695,000 | -19,478,000 | |||||||||||||||||||||||||||||||||||
net income from continuing operations | 118,360,000 | 41,307,000 | 54,753,000 | 29,397,000 | 26,801,000 | -4,147,000 | -19,779,000 | -39,443,000 | -36,608,000 | -34,876,000 | -59,695,000 | -25,209,000 | -15,728,000 | -4,391,000 | ||||||||||||||||||||||||||||||
net loss from discontinued operations, net of income taxes | -14,782,000 | |||||||||||||||||||||||||||||||||||||||||||
less: net loss attributable to non-controlling interests in consolidated subsidiaries: | ||||||||||||||||||||||||||||||||||||||||||||
continuing operations | -26,471,998.73 | -0.44 | -0.42 | -0.4 | -3,798,000 | -3,876,000 | -4,112,000 | -4,736,000 | ||||||||||||||||||||||||||||||||||||
discontinued operations | -2,871,000 | |||||||||||||||||||||||||||||||||||||||||||
earnings per share: | ||||||||||||||||||||||||||||||||||||||||||||
basic | 0.893 | 1.11 | 1.58 | 0.88 | -0.293 | 0.76 | -2.26 | 0.31 | 0.24 | 0.01 | 0.05 | 0.01 | ||||||||||||||||||||||||||||||||
diluted | ||||||||||||||||||||||||||||||||||||||||||||
net loss attributable to shareholders | 20,010,000 | -22,849,000 | -228,984,000 | -27,486,250 | -38,871,000 | -36,534,000 | -34,540,000 | -2,863,000 | -572,000 | -1,460,000 | -4,414,000 | |||||||||||||||||||||||||||||||||
loss per share: | ||||||||||||||||||||||||||||||||||||||||||||
basic | -2.3 | |||||||||||||||||||||||||||||||||||||||||||
diluted | ||||||||||||||||||||||||||||||||||||||||||||
equipment leasing revenues | 112,064,000 | 91,691,000 | 98,231,000 | 99,174,000 | 81,571,000 | 56,607,000 | 61,852,000 | 69,799,000 | 79,834,000 | 86,449,000 | 110,411,000 | 87,259,000 | 79,200,000 | 72,452,000 | 67,035,000 | 70,890,000 | 59,330,000 | 55,784,000 | 48,613,000 | 49,616,000 | 40,383,000 | 31,388,000 | 29,969,000 | 30,054,000 | 22,351,000 | 19,575,000 | 22,712,000 | 24,360,000 | 22,633,000 | 23,038,000 | ||||||||||||||
infrastructure revenues | 65,868,000 | 46,148,000 | 47,545,000 | 36,788,000 | 15,344,000 | 20,542,000 | 13,786,000 | 13,910,000 | 14,475,000 | 26,391,000 | 22,510,000 | 74,962,000 | 79,805,000 | 52,175,000 | 70,865,000 | 30,265,000 | 12,649,000 | 13,060,000 | 12,817,000 | 10,746,000 | 10,811,000 | 13,285,000 | 12,377,000 | 11,672,000 | 10,844,000 | 11,878,000 | 11,086,000 | 10,873,000 | 10,931,000 | 10,935,000 | ||||||||||||||
interest income | 590,000 | 656,000 | 489,000 | 483,000 | 454,000 | 285,000 | 41,000 | 58,000 | 22,000 | 41,000 | 79,000 | 121,000 | 240,000 | 91,000 | 127,000 | 111,000 | 74,000 | 176,000 | 106,000 | 215,000 | 84,000 | 283,000 | 49,000 | 206,000 | -128,000 | 9,000 | 117,000 | 159,000 | 116,000 | 187,000 | ||||||||||||||
other expense | -1,596,000 | -3,000 | ||||||||||||||||||||||||||||||||||||||||||
less: net loss attributable to non-controlling interests in consolidated subsidiaries | -8,480,000 | -7,466,000 | -4,737,250 | -7,363,000 | -6,625,000 | -4,961,000 | -3,237,500 | -4,995,000 | -4,539,000 | -1,682,000 | -3,855,000 | -7,288,000 | -8,761,000 | -4,349,000 | -4,798,000 | -8,863,000 | -3,064,250 | -4,318,000 | ||||||||||||||||||||||||||
income per share: | ||||||||||||||||||||||||||||||||||||||||||||
basic | 0.12 | |||||||||||||||||||||||||||||||||||||||||||
diluted | 0.11 | |||||||||||||||||||||||||||||||||||||||||||
loss per share: | ||||||||||||||||||||||||||||||||||||||||||||
basic | -2.3 | |||||||||||||||||||||||||||||||||||||||||||
diluted | -2.3 | |||||||||||||||||||||||||||||||||||||||||||
loss from continuing operations before income taxes | -28,223,000 | -39,937,000 | -38,248,000 | -34,707,000 | -4,489,000 | |||||||||||||||||||||||||||||||||||||||
benefit from income taxes | -491,250 | -494,000 | -1,640,000 | -3,750,000 | 453,000 | 396,250 | 909,000 | 73,000 | 83,000 | |||||||||||||||||||||||||||||||||||
net income from discontinued operations, net of income taxes | 1,331,000 | |||||||||||||||||||||||||||||||||||||||||||
earnings per share: | ||||||||||||||||||||||||||||||||||||||||||||
basic | 0.893 | 1.11 | 1.58 | 0.88 | -0.293 | 0.76 | -2.26 | 0.31 | 0.24 | 0.01 | 0.05 | 0.01 | ||||||||||||||||||||||||||||||||
discontinued operations | -2,871,000 | |||||||||||||||||||||||||||||||||||||||||||
diluted | ||||||||||||||||||||||||||||||||||||||||||||
less: net income attributable to non-controlling interests in consolidated subsidiaries: | ||||||||||||||||||||||||||||||||||||||||||||
dividends on preferred shares | 3,310,750 | 4,625,000 | 4,079,000 | 4,539,000 | ||||||||||||||||||||||||||||||||||||||||
gain on sale of equipment | 15,354,000 | 37,061,000 | 22,630,000 | 1,725,000 | 1,313,250 | 262,000 | 4,996,000 | -5,000 | 1,382,000 | 1,746,000 | 288,000 | 3,000 | ||||||||||||||||||||||||||||||||
earnings per common share | ||||||||||||||||||||||||||||||||||||||||||||
basic | 115 | 300 | ||||||||||||||||||||||||||||||||||||||||||
diluted | 115 | 300 | ||||||||||||||||||||||||||||||||||||||||||
weighted-average common shares outstanding: | ||||||||||||||||||||||||||||||||||||||||||||
basic | 102,563,486 | 102,569,415 | 102,558,777 | 102,552,436 | 101,538,835 | 102,380,659 | 100,958,524 | 100,245,905 | 99,908,214 | 99,927,594 | 99,732,179 | 99,728,245 | 99,421,008 | 99,378,771 | 99,370,301 | 99,366,877 | 89,922,088 | 88,277,897 | 86,030,652 | 86,027,944 | 86,015,702 | 86,022,302 | 86,009,959 | 86,008,099 | 85,992,019 | 85,996,067,000 | 85,987,769 | 85,986,453 | 83,654,068 | 84,708,071 | 83,160,037 | 81,534,454 | 75,766,811 | 75,770,529 | 75,762,283 | 75,738,698 | 75,746,200 | 67,039,439 | 75,718,183 | 62,879,023 | ||||
diluted | 103,846,914 | 103,966,650 | 103,147,860 | 103,159,051 | 101,538,835 | 103,395,348 | 100,958,524 | 100,960,065 | 100,425,777 | 100,482,309 | 100,462,277 | 100,974,100 | 99,421,008 | 99,378,771 | 99,805,455 | 99,366,877 | 89,922,088 | 88,277,897 | 86,030,652 | 86,027,944 | 86,015,702 | 86,022,302 | 86,009,959 | 86,008,099 | 86,029,363 | 86,005,604,000 | 85,989,029 | 85,986,453 | 83,664,833 | 84,709,656 | 83,160,047 | 81,534,454 | 75,766,811 | 75,770,665 | 75,762,283 | 75,738,698 | 75,746,200 | 67,039,439 | 75,718,183 | 62,879,023 | ||||
earnings per share | ||||||||||||||||||||||||||||||||||||||||||||
basic | 0.893 | 1.11 | 1.58 | 0.88 | -0.293 | 0.76 | -2.26 | 0.31 | 0.24 | 0.01 | 0.05 | 0.01 | ||||||||||||||||||||||||||||||||
diluted | 0.88 | 1.1 | 1.57 | 0.87 | -0.293 | 0.76 | -2.26 | 0.31 | 0.24 | 0.01 | 0.05 | 0.01 | ||||||||||||||||||||||||||||||||
equity in (losses) earnings of unconsolidated entities | -384,000 | |||||||||||||||||||||||||||||||||||||||||||
less: net income attributable to non-controlling interests in consolidated subsidiaries | -3,416,000 | -3,454,000 | -4,669,000 | -4,006,000 | -4,370,000 | -4,433,000 | ||||||||||||||||||||||||||||||||||||||
loss per share | ||||||||||||||||||||||||||||||||||||||||||||
basic | -0.07 | |||||||||||||||||||||||||||||||||||||||||||
diluted | -0.07 | |||||||||||||||||||||||||||||||||||||||||||
loss per share | ||||||||||||||||||||||||||||||||||||||||||||
basic and diluted | -0.01 | |||||||||||||||||||||||||||||||||||||||||||
equity in earnings (losses) of unconsolidated entities | -365,250 | 132,000 | ||||||||||||||||||||||||||||||||||||||||||
gain on sale of equipment and finance leases | 1,681,500 | 2,709,000 | 1,999,000 | 2,018,000 | 2,634,000 | 40,000 | 1,545,000 | 1,722,000 | ||||||||||||||||||||||||||||||||||||
earnings/(loss) per share | ||||||||||||||||||||||||||||||||||||||||||||
basic | -0.01 | 0.04 | ||||||||||||||||||||||||||||||||||||||||||
diluted | -0.01 | 0.04 | ||||||||||||||||||||||||||||||||||||||||||
equity in (losses) of unconsolidated entities | -327,000 | |||||||||||||||||||||||||||||||||||||||||||
basic and diluted loss per share | -0.02 | -0.06 | -0.06 | -0.02 | ||||||||||||||||||||||||||||||||||||||||
weighted-average shares outstanding: | ||||||||||||||||||||||||||||||||||||||||||||
basic and diluted | 75,762,674 | |||||||||||||||||||||||||||||||||||||||||||
basic and diluted earnings per share | -0.15 | -0.08 | 0.1 | |||||||||||||||||||||||||||||||||||||||||
weighted-average shares outstanding - basic | 75,730,165 | |||||||||||||||||||||||||||||||||||||||||||
weighted-average shares outstanding - diluted | 75,730,165 | |||||||||||||||||||||||||||||||||||||||||||
benefit for income taxes | -66,000 | |||||||||||||||||||||||||||||||||||||||||||
less: net income attributable to non-controllinginterests in consolidated subsidiaries | -3,295,000 | -3,506,000 | ||||||||||||||||||||||||||||||||||||||||||
weighted-average shares outstanding | 75,727,369 | 53,502,873 | ||||||||||||||||||||||||||||||||||||||||||
earnings per share: | ||||||||||||||||||||||||||||||||||||||||||||
basic and diluted | -0.07 | -0.16 | -0.01 | |||||||||||||||||||||||||||||||||||||||||
management fees to affiliate | 2,414,000 | |||||||||||||||||||||||||||||||||||||||||||
net income attributable to members | 5,448,000 |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-07-28 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 | 2019-06-30 | 2019-03-31 | 2018-12-31 | 2018-09-30 | 2018-06-30 | 2018-03-31 | 2017-12-31 | 2017-09-30 | 2017-06-30 | 2017-03-31 | 2016-12-31 | 2016-09-30 | 2016-06-30 | 2016-03-31 | 2015-12-31 | 2015-09-30 | 2015-06-30 | 2015-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
assets | |||||||||||||||||||||||||||||||||||||||||||||
current assets | |||||||||||||||||||||||||||||||||||||||||||||
cash and cash equivalents | 300,476,000 | 509,945,000 | 301,911,000 | 112,133,000 | 115,116,000 | 111,888,000 | 169,485,000 | 65,224,000 | 90,756,000 | 52,879,000 | 21,134,000 | 40,994,000 | 33,565,000 | 72,742,000 | 118,854,000 | 145,266,000 | 188,078,000 | 176,052,000 | 2 | 105,244,000 | 160,252,000 | 121,703,000 | 119,799,000 | 50,870,000 | 45,120,000 | 226,512,000 | 99,343,000 | 115,559,000 | 120,515,000 | 99,601,000 | 163,145,000 | 40,319,000 | 80,916,000 | 59,400,000 | 176,357,000 | 32,575,000 | 221,222,000 | 68,055,000 | 197,874,000 | 276,208,000 | 347,912,000 | 381,703,000 | 448,299,000 | 571,314,000 | 37,292,000 |
accounts receivable | 209,907,000 | 214,889,000 | 239,535,000 | 223,504,000 | 150,823,000 | 166,338,000 | 154,051,000 | 137,399,000 | 115,156,000 | 107,825,000 | 117,546,000 | 113,547,000 | 99,443,000 | 94,867,000 | 166,562,000 | 105,113,000 | 175,225,000 | 205,680,000 | 175,827,000 | 111,898,000 | 91,691,000 | 78,054,000 | 62,966,000 | 57,945,000 | 49,470,000 | 61,970,000 | 61,878,000 | 50,586,000 | 53,789,000 | 50,002,000 | 41,882,000 | 36,847,000 | 31,076,000 | 27,926,000 | 26,695,000 | 22,616,000 | 21,358,000 | 21,798,000 | 18,827,000 | 16,200,000 | 14,466,000 | 11,849,000 | 13,274,000 | 10,123,000 | |
inventory | 1,193,773,000 | 897,216,000 | 752,866,000 | 645,163,000 | 551,156,000 | 490,997,000 | 373,282,000 | 345,470,000 | 316,637,000 | 274,832,000 | 232,043,000 | 192,790,000 | 163,676,000 | 160,019,000 | |||||||||||||||||||||||||||||||
other current assets | 408,364,000 | 412,779,000 | 343,225,000 | 423,336,000 | 408,923,000 | ||||||||||||||||||||||||||||||||||||||||
total current assets | 2,112,520,000 | 2,034,829,000 | 1,759,385,000 | 1,869,861,000 | 1,226,018,000 | ||||||||||||||||||||||||||||||||||||||||
leasing equipment | 1,545,804,000 | 1,669,634,000 | 1,849,116,000 | 1,989,367,000 | 2,373,730,000 | 2,066,337,000 | 2,202,866,000 | 2,187,716,000 | 2,032,413,000 | 1,924,198,000 | 1,891,263,000 | 1,849,662,000 | 1,913,553,000 | 1,692,182,000 | 1,844,095,000 | 1,901,960,000 | 1,891,649,000 | 1,696,594,000 | 5 | 1,656,702,000 | 1,684,816,000 | 1,635,259,000 | 1,703,498,000 | 1,769,799,000 | 1,680,646,000 | 1,707,059,000 | 1,498,679,000 | 1,509,848,000 | 1,471,794,000 | 1,432,210,000 | 1,284,057,000 | 1,203,741,000 | 1,128,493,000 | 1,074,130,000 | 929,364,000 | 954,461,000 | 829,275,000 | 765,455,000 | 694,568,000 | 679,734,000 | 651,175,000 | 636,681,000 | 616,019,000 | 521,517,000 | 502,945,000 |
property, plant, and equipment | 120,068,000 | 113,951,000 | 110,484,000 | 108,054,000 | 107,451,000 | 103,605,000 | 33,078,000 | 44,114,000 | 45,175,000 | 13,454,000 | 12,123,000 | 11,438,000 | 10,014,000 | 47,669,000 | 1,642,536,000 | 1,587,291,000 | 1,555,857,000 | 1,527,770,000 | 7 | 1,014,390,000 | 1,000,988,000 | 964,363,000 | 917,872,000 | 849,129,000 | 789,300,000 | 732,109,000 | 945,052,000 | 855,013,000 | 788,668,000 | 708,853,000 | 659,460,000 | 599,723,000 | 512,052,000 | 489,949,000 | 464,399,000 | 426,919,000 | 363,775,000 | 352,181,000 | 345,146,000 | 302,571,000 | 301,822,000 | 299,678,000 | 294,352,000 | 282,026,000 | 264,421,000 |
investments | 314,156,000 | 164,346,000 | 125,713,000 | 31,400,000 | 19,048,000 | 19,448,000 | 19,886,000 | 22,055,000 | 22,722,000 | 39,868,000 | 39,822,000 | 40,202,000 | 22,037,000 | 22,280,000 | 99,543,000 | 78,498,000 | 77,325,000 | 110,963,000 | 8 | 114,493,000 | 161,767,000 | 146,515,000 | 158,215,000 | 175,872,000 | 194,352,000 | 180,550,000 | 51,109,000 | 38,727,000 | 39,778,000 | 40,560,000 | 42,183,000 | 43,404,000 | 43,702,000 | 42,538,000 | 67,792,000 | 58,191,000 | 58,181,000 | 39,978,000 | |||||||
intangible assets | 19,929,000 | 18,682,000 | 14,449,000 | 16,036,000 | 42,205,000 | 38,001,000 | 42,138,000 | 46,583,000 | 50,590,000 | 41,471,000 | 44,683,000 | 45,729,000 | 41,955,000 | 29,416,000 | 95,845,000 | 101,464,000 | 98,699,000 | 80,737,000 | 9 | 14,488,000 | 16,809,000 | 18,786,000 | 21,142,000 | 23,720,000 | 25,115,000 | 27,692,000 | 30,182,000 | 32,409,000 | 35,604,000 | 38,513,000 | 35,653,000 | 36,019,000 | 37,978,000 | 40,043,000 | 33,882,000 | 34,707,000 | 36,638,000 | 38,954,000 | 37,328,000 | 39,732,000 | 41,545,000 | 44,129,000 | 46,648,000 | 46,408,000 | 49,025,000 |
goodwill | 94,221,000 | 83,012,000 | 75,634,000 | 61,070,000 | 61,070,000 | 31,533,000 | 4,630,000 | 4,630,000 | 4,630,000 | 262,819,000 | 257,968,000 | 257,137,000 | 239,941,000 | 122,735,000 | 122,735,000 | 122,735,000 | 122,735,000 | 122,735,000 | 122,735,000 | 122,639,000 | 116,584,000 | 116,584,000 | 116,584,000 | 116,584,000 | 116,584,000 | 116,584,000 | 116,584,000 | 116,584,000 | 116,584,000 | 116,584,000 | 116,584,000 | 116,584,000 | 116,584,000 | 116,584,000 | 116,584,000 | 116,584,000 | 116,584,000 | 115,616,000 | 115,226,000 | ||||||
other non-current assets | 167,060,000 | 155,746,000 | 166,294,000 | 192,356,000 | 208,430,000 | ||||||||||||||||||||||||||||||||||||||||
total assets | 4,373,758,000 | 4,240,200,000 | 4,101,075,000 | 4,268,144,000 | 4,037,952,000 | 3,738,910,000 | 3,449,252,000 | 3,175,906,000 | 2,964,685,000 | 2,633,786,000 | 2,525,632,000 | 2,441,444,000 | 2,429,577,000 | 2,277,985,000 | 4,882,148,000 | 4,758,497,000 | 4,863,854,000 | 4,682,517,000 | 3,553,946,000 | 3,592,047,000 | 3,387,977,000 | 3,375,330,000 | 3,287,494,000 | 3,176,588,000 | 3,236,922,000 | 3,135,013,000 | 3,088,509,000 | 2,947,700,000 | 2,638,778,000 | 2,473,161,000 | 2,211,272,000 | 2,047,826,000 | 1,955,806,000 | 1,909,921,000 | 1,743,707,000 | 1,759,098,000 | 1,547,312,000 | 1,554,583,000 | 1,574,552,000 | 1,606,448,000 | 1,649,641,000 | 1,682,136,000 | 2,010,542,000 | 1,438,619,000 | |
liabilities | |||||||||||||||||||||||||||||||||||||||||||||
current liabilities | |||||||||||||||||||||||||||||||||||||||||||||
accounts payable | 208,224,000 | 147,350,000 | 83,391,000 | 110,802,000 | 69,119,000 | ||||||||||||||||||||||||||||||||||||||||
accrued liabilities | 90,009,000 | 128,936,000 | 131,166,000 | 142,098,000 | 96,910,000 | ||||||||||||||||||||||||||||||||||||||||
current maintenance deposits | 25,439,000 | 14,650,000 | 44,647,000 | 33,748,000 | 62,552,000 | ||||||||||||||||||||||||||||||||||||||||
current security deposits | 14,001,000 | 16,012,000 | 17,231,000 | 19,557,000 | 18,100,000 | ||||||||||||||||||||||||||||||||||||||||
other current liabilities | 62,202,000 | 41,285,000 | 43,622,000 | 91,061,000 | 100,565,000 | ||||||||||||||||||||||||||||||||||||||||
total current liabilities | 399,875,000 | 348,233,000 | 350,940,000 | 473,762,000 | 347,246,000 | ||||||||||||||||||||||||||||||||||||||||
long-term debt | 3,448,891,000 | 3,446,733,000 | 3,444,612,000 | 3,642,527,000 | 3,440,478,000 | ||||||||||||||||||||||||||||||||||||||||
non-current maintenance deposits | 46,237,000 | 49,982,000 | 27,772,000 | 25,510,000 | 44,179,000 | ||||||||||||||||||||||||||||||||||||||||
non-current security deposits | 15,211,000 | 15,991,000 | 14,693,000 | 13,429,000 | 26,830,000 | ||||||||||||||||||||||||||||||||||||||||
other non-current liabilities | 129,370,000 | 126,797,000 | 98,114,000 | 84,583,000 | 97,851,000 | ||||||||||||||||||||||||||||||||||||||||
total liabilities | 4,039,584,000 | 3,987,736,000 | 3,936,131,000 | 4,239,811,000 | 3,956,584,000 | 3,620,378,000 | 3,379,685,000 | 2,998,300,000 | 2,788,802,000 | 2,538,724,000 | 2,434,314,000 | 2,367,288,000 | 2,410,175,000 | 2,251,937,000 | 4,192,877,000 | 3,997,502,000 | 3,739,754,000 | 3,478,475,000 | 2,512,933,000 | 2,448,395,000 | 2,288,656,000 | 2,174,483,000 | 2,036,003,000 | 1,864,764,000 | 1,898,065,000 | 2,029,361,000 | 2,050,276,000 | 1,974,646,000 | 1,584,996,000 | 1,410,841,000 | 1,121,946,000 | 921,332,000 | 920,731,000 | 831,998,000 | 642,457,000 | 622,537,000 | 381,632,000 | 369,397,000 | 359,604,000 | 347,371,000 | 358,955,000 | 361,326,000 | 668,093,000 | 671,815,000 | |
commitments and contingencies | 21 | ||||||||||||||||||||||||||||||||||||||||||||
equity | |||||||||||||||||||||||||||||||||||||||||||||
ordinary shares | 1,026,000 | 1,026,000 | 1,026,000 | 1,026,000 | 1,026,000 | 1,025,000 | 1,022,000 | 1,002,000 | 1,002,000 | 1,002,000 | 997,000 | 997,000 | 997,000 | ||||||||||||||||||||||||||||||||
preferred shares | 68,000 | 68,000 | 68,000 | 68,000 | 117,000 | 159,000 | 159,000 | 159,000 | 159,000 | 159,000 | 159,000 | 159,000 | 133,000 | 133,000 | 133,000 | 133,000 | 133,000 | 133,000 | 133,000 | 133,000 | 91,000 | 91,000 | 81,000 | 81,000 | 81,000 | 35,000 | |||||||||||||||||||
additional paid in capital | 50,567,000 | -26,549,000 | -30,831,000 | -2,044,000 | 153,328,000 | 292,899,000 | 330,419,000 | 218,074,000 | 255,973,000 | 293,512,000 | 331,080,000 | 368,681,000 | 343,350,000 | 376,800,000 | 1,332,968,000 | 1,372,564,000 | 1,411,940,000 | 1,420,247,000 | 1,163,748,000 | 1,198,386,000 | 1,130,106,000 | 1,130,121,000 | 1,109,631,000 | 1,110,028,000 | 1,110,122,000 | 1,027,451,000 | 972,836,000 | 1,001,223,000 | 1,029,376,000 | 1,037,513,000 | 1,065,474,000 | 1,085,492,000 | 985,009,000 | 1,010,026,000 | 1,034,893,000 | 1,059,904,000 | 1,084,757,000 | 1,109,755,000 | 1,134,528,000 | 1,159,319,000 | 1,184,198,000 | 1,209,183,000 | 1,220,629,000 | 657,404,000 | |
retained earnings | 282,513,000 | 277,919,000 | 194,681,000 | 29,283,000 | 60,760,000 | 115,113,000 | 159,199,000 | 190,453,000 | 6,806,000 | ||||||||||||||||||||||||||||||||||||
shareholders' equity | 334,174,000 | 252,464,000 | 164,944,000 | 28,333,000 | 81,368,000 | 118,532,000 | 69,567,000 | 177,072,000 | 175,349,000 | 94,528,000 | 90,784,000 | 73,632,000 | 18,878,000 | 25,524,000 | 698,874,000 | 767,944,000 | 1,124,292,000 | 1,197,468,000 | 1,027,566,000 | 1,125,019,000 | 1,076,658,000 | 1,175,378,000 | 1,222,699,000 | 1,279,289,000 | 1,301,877,000 | 1,060,615,000 | 988,877,000 | 919,859,000 | 997,399,000 | 1,004,487,000 | 1,027,870,000 | 1,047,049,000 | 947,068,000 | 980,713,000 | 996,798,000 | 1,029,404,000 | 1,053,812,000 | 1,073,493,000 | 1,099,541,000 | 1,135,525,000 | 1,166,283,000 | 1,195,854,000 | 1,219,132,000 | ||
total liabilities and equity | 4,373,758,000 | 4,240,200,000 | 4,101,075,000 | 4,268,144,000 | 4,037,952,000 | 3,738,910,000 | 3,449,252,000 | 3,175,906,000 | 2,964,685,000 | 2,633,786,000 | 2,525,632,000 | 2,441,444,000 | 2,429,577,000 | 2,277,985,000 | 4,882,148,000 | 4,758,497,000 | 4,863,854,000 | 4,682,517,000 | 3,553,946,000 | 3,592,047,000 | 3,387,977,000 | 3,375,330,000 | 3,287,494,000 | 3,176,588,000 | 3,236,922,000 | 3,135,013,000 | 3,088,509,000 | 2,947,700,000 | 2,638,778,000 | 2,473,161,000 | 2,211,272,000 | 2,047,826,000 | 1,955,806,000 | 1,909,921,000 | 1,743,707,000 | 1,759,098,000 | 1,547,312,000 | 1,554,583,000 | 1,574,552,000 | 1,606,448,000 | 1,649,641,000 | 1,682,136,000 | 2,010,542,000 | ||
assets held for sale | 121,848,000 | 465,725,000 | 119,012,000 | ||||||||||||||||||||||||||||||||||||||||||
liabilities held for sale | 30,883,000 | 76,496,000 | |||||||||||||||||||||||||||||||||||||||||||
accumulated deficit | -73,103,000 | -175,551,000 | -262,033,000 | -42,163,000 | -81,785,000 | -200,145,000 | -241,452,000 | -296,205,000 | -325,602,000 | -352,403,000 | -336,345,000 | -354,585,000 | -132,392,000 | -120,136,000 | -88,056,000 | -58,073,000 | -18,865,000 | -39,197,000 | -32,817,000 | -33,854,000 | -38,432,000 | -39,271,000 | -38,699,000 | -41,709,000 | -44,707,000 | -43,247,000 | -38,833,000 | -37,020,000 | -35,744,000 | -24,551,000 | -18,769,000 | -14,070,000 | -2,332,000 | ||||||||||||
non-controlling interest in equity of consolidated subsidiaries | 534,000 | 534,000 | 534,000 | 534,000 | 524,000 | 524,000 | 524,000 | -9,603,000 | -6,949,000 | -192,000 | 6,574,000 | 13,447,000 | 18,633,000 | 22,663,000 | 25,469,000 | 28,792,000 | 32,535,000 | 36,980,000 | 45,037,000 | 49,356,000 | 53,195,000 | 56,383,000 | 57,833,000 | 61,456,000 | 79,445,000 | 88,007,000 | 97,210,000 | 104,452,000 | 107,157,000 | 111,868,000 | 111,693,000 | 115,407,000 | 123,552,000 | 124,403,000 | 124,956,000 | 123,317,000 | 108,790,000 | ||||||||
total equity | 81,368,000 | 118,532,000 | 69,567,000 | 177,606,000 | 175,883,000 | 95,062,000 | 91,318,000 | 74,156,000 | 19,402,000 | 26,048,000 | 689,271,000 | 760,995,000 | 1,124,100,000 | 1,204,042,000 | 1,041,013,000 | 1,143,652,000 | 1,099,321,000 | 1,200,847,000 | 1,251,491,000 | 1,311,824,000 | 1,338,857,000 | 1,105,652,000 | 1,038,233,000 | 973,054,000 | 1,053,782,000 | 1,062,320,000 | 1,089,326,000 | 1,126,494,000 | 1,035,075,000 | 1,077,923,000 | 1,101,250,000 | 1,136,561,000 | 1,165,680,000 | 1,185,186,000 | 1,214,948,000 | 1,259,077,000 | 1,290,686,000 | 1,320,810,000 | 1,342,449,000 | ||||||
restricted cash | 150,000 | 150,000 | 150,000 | 150,000 | 19,500,000 | 177,951,000 | 214,401,000 | 251,983,000 | 283,398,000 | 2 | 38,001,000 | 33,224,000 | 39,715,000 | 43,607,000 | 49,178,000 | 78,268,000 | 16,005,000 | 51,241,000 | 58,817,000 | 108,058,000 | 21,236,000 | 22,355,000 | 33,526,000 | 25,823,000 | 33,406,000 | 36,458,000 | 51,453,000 | 56,032,000 | 65,441,000 | 63,891,000 | 69,614,000 | 65,985,000 | 21,610,000 | 16,169,000 | 17,750,000 | 16,431,000 | |||||||||
other assets | 591,601,000 | 449,686,000 | 322,565,000 | 286,456,000 | 179,259,000 | 167,018,000 | 147,082,000 | 125,834,000 | 158,810,000 | 400,394,000 | 292,023,000 | 284,974,000 | 272,944,000 | 2 | 234,401,000 | 220,791,000 | 177,928,000 | 134,631,000 | 112,752,000 | 112,147,000 | 129,105,000 | 229,643,000 | 236,589,000 | 150,714,000 | 108,809,000 | 82,772,000 | 79,781,000 | 56,316,000 | 59,436,000 | 47,789,000 | 32,630,000 | 45,168,000 | 69,589,000 | 57,048,000 | 51,378,000 | 44,870,000 | 41,594,000 | 35,445,000 | 25,819,000 | 23,461,000 | |||||
accounts payable and accrued liabilities | 196,660,000 | 128,708,000 | 139,250,000 | 112,907,000 | 108,579,000 | 79,765,000 | 105,066,000 | 86,452,000 | 102,506,000 | 253,207,000 | 191,131,000 | 202,669,000 | 213,441,000 | 148,367,000 | 101,155,000 | 113,185,000 | 88,050,000 | 108,360,000 | 82,928,000 | 144,855,000 | 135,155,000 | 117,280,000 | 97,415,000 | 112,188,000 | 83,648,000 | 83,920,000 | 56,031,000 | 68,226,000 | 51,684,000 | 48,326,000 | 33,362,000 | 38,239,000 | 32,382,000 | 33,575,000 | 31,086,000 | 34,995,000 | 32,367,000 | 29,263,000 | 28,744,000 | ||||||
debt | 3,218,343,000 | 3,077,596,000 | 2,693,754,000 | 2,517,343,000 | 2,279,330,000 | 2,173,108,000 | 2,101,907,000 | 2,175,727,000 | 2,024,549,000 | 3,497,566,000 | 3,399,367,000 | 3,220,211,000 | 2,983,989,000 | 10 | 2,127,086,000 | 2,077,402,000 | 1,904,762,000 | 1,801,573,000 | 1,602,304,000 | 1,445,735,000 | 1,420,928,000 | 1,582,262,000 | 1,631,136,000 | 1,540,017,000 | 1,237,347,000 | 1,137,867,000 | 862,746,000 | 710,638,000 | 703,264,000 | 655,580,000 | 494,754,000 | 495,482,000 | 259,512,000 | 261,543,000 | 262,908,000 | 264,340,000 | 271,057,000 | 274,942,000 | 584,274,000 | 588,603,000 | |||||
maintenance deposits | 75,606,000 | 75,939,000 | 62,722,000 | 65,387,000 | 61,497,000 | 98,354,000 | 93,703,000 | 78,686,000 | 51,430,000 | 58,553,000 | 74,322,000 | 106,836,000 | 100,700,000 | 2 | 119,448,000 | 140,487,000 | 148,293,000 | 154,661,000 | 185,332,000 | 198,694,000 | 208,944,000 | 197,989,000 | 180,824,000 | 166,749,000 | 158,163,000 | 128,877,000 | 122,617,000 | 107,444,000 | 103,464,000 | 81,775,000 | 53,892,000 | 52,216,000 | 45,394,000 | 39,570,000 | 35,134,000 | 28,353,000 | 30,494,000 | 30,001,000 | 35,208,000 | 35,265,000 | |||||
security deposits | 42,863,000 | 41,536,000 | 42,431,000 | 41,065,000 | 39,901,000 | 37,192,000 | 33,768,000 | 32,842,000 | 27,409,000 | 27,761,000 | 31,003,000 | 40,149,000 | 35,167,000 | 2 | 35,663,000 | 35,117,000 | 37,064,000 | 35,836,000 | 38,795,000 | 42,182,000 | 45,252,000 | 42,761,000 | 41,103,000 | 38,638,000 | 38,539,000 | 33,921,000 | 30,850,000 | 28,921,000 | 27,257,000 | 24,752,000 | 24,347,000 | 21,636,000 | 19,947,000 | 18,442,000 | 17,249,000 | 16,145,000 | 15,990,000 | 15,950,000 | 13,065,000 | 12,790,000 | |||||
other liabilities | 86,906,000 | 55,906,000 | 60,143,000 | 52,100,000 | 49,417,000 | 45,895,000 | 32,844,000 | 36,468,000 | 46,043,000 | 283,650,000 | 228,674,000 | 96,295,000 | 71,044,000 | 18,249,000 | 30,003,000 | 23,351,000 | 32,154,000 | 38,776,000 | 32,701,000 | 41,118,000 | 28,158,000 | 36,474,000 | 87,108,000 | 38,759,000 | 26,528,000 | 21,813,000 | 18,298,000 | 18,520,000 | 18,207,000 | 21,138,000 | 19,841,000 | 18,540,000 | 17,460,000 | 10,738,000 | 7,447,000 | 6,419,000 | 8,066,000 | 6,283,000 | 6,413,000 | ||||||
assets of discontinued operations | |||||||||||||||||||||||||||||||||||||||||||||
liabilities of discontinued operations | |||||||||||||||||||||||||||||||||||||||||||||
accumulated other comprehensive loss | -298,874,000 | -251,160,000 | -156,381,000 | -103,755,000 | -49,115,000 | -16,283,000 | -43,012,000 | ||||||||||||||||||||||||||||||||||||||
common shares | 994,000 | 992,000 | 992,000 | 992,000 | 979,000 | 856,000 | 856,000 | 856,000 | 856,000 | 856,000 | 851,000 | 849,000 | 849,000 | 848,000 | 845,000 | 840,000 | 828,000 | 828,000 | 828,000 | 758,000 | 758,000 | 758,000 | 758,000 | 758,000 | 758,000 | 757,000 | 757,000 | 757,000 | 757,000 | 757,000 | 535,000 | ||||||||||||||
operating lease right-of-use assets | 73,549,000 | 74,513,000 | 75,344,000 | 74,643,000 | 14 | 64,541,000 | 64,801,000 | 62,355,000 | 62,588,000 | 62,816,000 | 62,965,000 | 37,466,000 | 42,590,000 | 42,993,000 | 44,241,000 | ||||||||||||||||||||||||||||||
operating lease liabilities | 72,140,000 | 73,005,000 | 73,594,000 | 74,134,000 | 14 | 64,120,000 | 64,231,000 | 62,001,000 | 62,209,000 | 62,436,000 | 62,524,000 | 36,968,000 | 43,036,000 | 43,459,000 | 44,719,000 | ||||||||||||||||||||||||||||||
finance leases | 7,583,000 | 13,795,000 | 6 | 13,124,000 | 13,966,000 | 6,927,000 | 13,189,000 | 7,657,000 | 7,995,000 | 8,315,000 | 8,620,000 | 20,092,000 | 21,158,000 | 18,623,000 | 16,950,000 | 16,293,000 | 9,115,000 | 9,244,000 | 9,370,000 | 9,492,000 | 9,607,000 | 9,717,000 | 9,824,000 | 9,928,000 | 10,026,000 | 82,521,000 | 85,401,000 | 96,671,000 | 99,872,000 | ||||||||||||||||
how we addressed the matter in our audit | |||||||||||||||||||||||||||||||||||||||||||||
(accumulated deficit) retained earnings | -28,158,000 | ||||||||||||||||||||||||||||||||||||||||||||
accumulated other comprehensive income | -26,237,000 | -16,450,000 | -2,982,000 | 9,130,000 | 372,000 | 25,474,000 | 34,058,000 | 11,638,000 | 5,854,000 | 11,989,000 | 7,130,000 | 97,000 | -16,000 | 78,000 | 75,000 | ||||||||||||||||||||||||||||||
investments in and advances to unconsolidated entities | 10,522,000 | 9,976,000 | 10,329,000 | 22,147,000 | 21,823,000 | ||||||||||||||||||||||||||||||||||||||||
investment in and advances to unconsolidated entity | 10,675,000 | 11,370,000 | |||||||||||||||||||||||||||||||||||||||||||
tendered bonds | 298,000,000 | 298,000,000 | |||||||||||||||||||||||||||||||||||||||||||
members' equity | 658,014,000 | ||||||||||||||||||||||||||||||||||||||||||||
total members' equity | 766,804,000 | ||||||||||||||||||||||||||||||||||||||||||||
total liabilities and members' equity | 1,438,619,000 | ||||||||||||||||||||||||||||||||||||||||||||
notes | 2,015,000 | ||||||||||||||||||||||||||||||||||||||||||||
revenues | |||||||||||||||||||||||||||||||||||||||||||||
equipment leasing revenues | 23,038,000 | ||||||||||||||||||||||||||||||||||||||||||||
infrastructure revenues | 10,935,000 | ||||||||||||||||||||||||||||||||||||||||||||
total revenues | 33,973,000 | ||||||||||||||||||||||||||||||||||||||||||||
expenses | |||||||||||||||||||||||||||||||||||||||||||||
operating expenses | 14,719,000 | ||||||||||||||||||||||||||||||||||||||||||||
general and administrative | 348,000 | ||||||||||||||||||||||||||||||||||||||||||||
acquisition and transaction expenses | 368,000 | ||||||||||||||||||||||||||||||||||||||||||||
management fees to affiliate | 2,414,000 | ||||||||||||||||||||||||||||||||||||||||||||
depreciation and amortization | 10,562,000 | ||||||||||||||||||||||||||||||||||||||||||||
interest expense | 4,815,000 | ||||||||||||||||||||||||||||||||||||||||||||
total expenses | 33,226,000 | ||||||||||||||||||||||||||||||||||||||||||||
other income | -6,000 | ||||||||||||||||||||||||||||||||||||||||||||
equity in earnings of unconsolidated entities | 1,241,000 | ||||||||||||||||||||||||||||||||||||||||||||
gain on sale of equipment | 3,000 | ||||||||||||||||||||||||||||||||||||||||||||
interest income | 187,000 | ||||||||||||||||||||||||||||||||||||||||||||
total other income | 1,425,000 | ||||||||||||||||||||||||||||||||||||||||||||
income before income taxes | 2,172,000 | ||||||||||||||||||||||||||||||||||||||||||||
benefit from income taxes | 230,000 | ||||||||||||||||||||||||||||||||||||||||||||
net income | 1,942,000 | ||||||||||||||||||||||||||||||||||||||||||||
less: net income attributable to non-controllinginterests in consolidated subsidiaries | -3,506,000 | ||||||||||||||||||||||||||||||||||||||||||||
net income attributable to members | 5,448,000 | ||||||||||||||||||||||||||||||||||||||||||||
basic and diluted earnings per share | 100 | ||||||||||||||||||||||||||||||||||||||||||||
weighted-average shares outstanding | 53,502,873,000 |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 | 2019-06-30 | 2019-03-31 | 2018-12-31 | 2018-09-30 | 2018-06-30 | 2018-03-31 | 2017-12-31 | 2017-09-30 | 2017-06-30 | 2017-03-31 | 2016-12-31 | 2016-09-30 | 2016-06-30 | 2016-03-31 | 2015-12-31 | 2015-09-30 | 2015-06-30 | 2015-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
cash flows from operating activities: | ||||||||||||||||||||||||||||||||||||||||||||
net income | 115,562,000 | 117,718,000 | 165,398,000 | 102,386,000 | 102,448,000 | 86,482,000 | -219,870,000 | 39,622,000 | 118,360,000 | 41,307,000 | 54,753,000 | 29,397,000 | -59,695,000 | -25,209,000 | 181,111,000 | 20,676,000 | 15,793,000 | -9,796,000 | -9,212,000 | -5,819,000 | -9,077,000 | -9,247,000 | -16,056,000 | -5,270,000 | 1,942,000 | |||||||||||||||||||
adjustments to reconcile net income to net cash from operating activities: | ||||||||||||||||||||||||||||||||||||||||||||
equity in losses of unconsolidated entities | -10,023,000 | 4,224,000 | 5,003,000 | 7,614,000 | 401,000 | 438,000 | 694,000 | 667,000 | -63,000 | -46,000 | 380,000 | 1,335,000 | 244,000 | 8,891,000 | 13,823,000 | 24,013,000 | 2,874,000 | 4,082,000 | -406,000 | 2,501,000 | 3,209,000 | -265,000 | 848,000 | 974,000 | 410,000 | 442,000 | 251,000 | -95,000 | ||||||||||||||||
gain on sale of assets | -82,779,000 | -68,645,000 | -206,697,000 | -19,419,000 | -133,556,000 | -50,231,000 | -34,551,000 | -44,303,000 | -31,657,000 | -26,494,000 | -63,645,000 | -16,288,000 | ||||||||||||||||||||||||||||||||
gain on sale of assets to the 2025 partnership | 3,703,000 | -4,609,000 | ||||||||||||||||||||||||||||||||||||||||||
gain on insurance recoveries | 0 | 0 | -24,200,000 | -30,125,000 | ||||||||||||||||||||||||||||||||||||||||
security deposits and maintenance claims included in earnings | 4,038,000 | 6,248,000 | -27,608,000 | -3,559,000 | -3,346,000 | -8,139,000 | -2,861,000 | -2,437,000 | -6,077,000 | -22,243,000 | -2,373,000 | -9,842,000 | -10,287,000 | -1,350,000 | -18,616,000 | -11,592,000 | -8,201,000 | -15,453,000 | -12,577,000 | -2,836,000 | 5,913,000 | -15,226,000 | -5,893,000 | 8,844,000 | -16,522,000 | -994,000 | 84,000 | -2,953,000 | -1,998,000 | 0 | -3,942,000 | -383,000 | 0 | 0 | 0 | 0 | ||||||||
loss on extinguishment of debt | 3,181,000 | 0 | -2,000 | 0 | 0 | 6,943,000 | 0 | 0 | 4,724,000 | 0 | 0 | 0 | 2,456,000 | 0 | 0 | 0 | 1,579,000 | |||||||||||||||||||||||||||
equity-based compensation | 5,674,000 | 5,655,000 | 5,515,000 | 4,889,000 | 3,428,000 | 1,430,000 | 638,000 | 510,000 | 510,000 | 510,000 | 510,000 | 108,000 | 0 | 329,000 | 1,585,000 | 709,000 | 757,000 | 728,000 | 1,439,000 | 1,114,000 | 1,002,000 | 621,000 | 411,000 | 291,000 | 6,800,000 | 676,000 | 700,000 | 228,000 | 232,000 | 232,000 | 229,000 | 208,000 | 648,000 | 165,000 | 443,000 | 87,000 | 146,000 | 28,000 | 968,000 | 1,094,000 | ||||
non-cash termination fee to affiliate | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||
depreciation and amortization | 55,721,000 | 55,278,000 | 55,236,000 | 59,562,000 | 54,678,000 | 56,775,000 | 56,691,000 | 49,920,000 | 46,478,000 | 43,959,000 | 38,514,000 | 40,926,000 | 37,456,000 | 40,857,000 | 56,622,000 | 58,301,000 | 56,482,000 | 53,368,000 | 47,371,000 | 44,535,000 | 45,857,000 | 42,626,000 | 41,720,000 | 42,197,000 | 45,348,000 | 43,744,000 | 42,600,000 | 39,533,000 | 39,501,000 | 34,422,000 | 32,844,000 | 29,587,000 | 25,728,000 | 24,784,000 | 20,221,000 | 17,377,000 | 16,916,000 | 15,376,000 | 14,701,000 | 13,217,000 | 12,433,000 | 11,548,000 | 10,765,000 | 10,562,000 |
asset impairment | 0 | 0 | 0 | 962,000 | 901,000 | 0 | 0 | 1,220,000 | 9,048,000 | 4,495,000 | 886,000 | 122,790,000 | 7,415,000 | 859,000 | 89,000 | 2,100,000 | 19,587,000 | 3,915,000 | 0 | 0 | ||||||||||||||||||||||||
deferred income taxes | -3,603,000 | 29,760,000 | 27,116,000 | 20,683,000 | ||||||||||||||||||||||||||||||||||||||||
change in fair value of guarantees | 654,000 | 389,000 | 1,755,000 | 316,000 | 746,000 | 2,381,000 | -782,000 | -259,000 | -130,000 | 225,000 | -133,000 | -1,769,000 | ||||||||||||||||||||||||||||||||
amortization of lease intangibles and incentives | 9,999,000 | 12,577,000 | 10,441,000 | 8,825,000 | 12,969,000 | 12,678,000 | 9,118,000 | 9,202,000 | 10,079,000 | 15,421,000 | 10,420,000 | 7,844,000 | 6,820,000 | 6,497,000 | 11,805,000 | 12,013,000 | 6,630,000 | 6,443,000 | 6,797,000 | 8,108,000 | 6,952,000 | 9,906,000 | 6,621,000 | 6,867,000 | 6,154,000 | 6,720,000 | 8,954,000 | 8,334,000 | 9,030,000 | 4,686,000 | 5,717,000 | 7,226,000 | 3,113,000 | 1,902,000 | 1,342,000 | 1,949,000 | 664,000 | 1,504,000 | 1,642,000 | 1,637,000 | 1,636,000 | 1,467,000 | 1,757,000 | 2,156,000 |
amortization of deferred financing costs | 3,039,000 | 3,023,000 | 2,919,000 | 2,830,000 | 3,462,000 | 2,889,000 | 2,469,000 | 2,638,000 | 2,431,000 | 2,239,000 | 2,173,000 | 2,017,000 | 1,876,000 | 3,814,000 | 7,557,000 | 5,771,000 | 2,870,000 | 14,364,000 | 2,221,000 | 2,268,000 | 1,159,000 | 2,146,000 | 1,945,000 | 2,065,000 | 2,338,000 | 1,952,000 | 2,018,000 | 2,025,000 | 1,266,000 | 1,681,000 | 1,332,000 | 1,151,000 | 1,082,000 | 1,056,000 | 931,000 | 1,133,000 | 649,000 | 678,000 | 664,000 | 585,000 | 368,000 | 368,000 | 367,000 | 366,000 |
provision for credit losses | 298,000 | 0 | 5,551,000 | 557,000 | 475,000 | 749,000 | 8,000 | -696,000 | 47,914,000 | |||||||||||||||||||||||||||||||||||
other | 3,460,000 | 435,000 | 215,000 | 60,000 | -115,000 | -1,000 | 102,000 | -259,000 | -5,651,000 | -337,000 | -332,000 | -326,000 | -317,000 | -286,000 | -199,000 | -208,000 | -200,000 | -123,000 | 162,000 | -279,000 | 350,000 | 393,000 | 396,000 | 363,000 | 79,000 | 201,000 | 326,000 | 221,000 | -55,000 | 30,000 | 12,000 | 9,000 | 166,000 | 235,000 | 294,000 | 37,000 | -14,000 | -169,000 | 131,000 | 138,000 | 112,000 | -203,000 | 48,000 | -207,000 |
change in: | ||||||||||||||||||||||||||||||||||||||||||||
accounts receivable | -3,457,000 | -20,509,000 | 54,629,000 | -73,088,000 | -9,962,000 | 12,871,000 | -16,160,000 | -27,945,000 | -5,999,000 | -12,440,000 | -7,078,000 | -14,840,000 | -4,077,000 | -14,831,000 | -55,680,000 | 8,619,000 | 11,949,000 | -14,160,000 | -66,875,000 | -19,786,000 | -16,720,000 | -18,874,000 | -13,360,000 | -10,780,000 | -6,620,000 | -1,327,000 | -13,548,000 | -1,127,000 | -4,316,000 | -8,960,000 | -2,677,000 | -7,387,000 | -4,017,000 | -1,716,000 | -4,642,000 | -1,626,000 | -1,717,000 | -1,850,000 | -2,644,000 | -1,769,000 | -3,222,000 | 1,208,000 | -3,785,000 | -141,000 |
inventory | -253,556,000 | -123,137,000 | -141,560,000 | -127,211,000 | -42,980,000 | -104,903,000 | -52,120,000 | -6,877,000 | -27,039,000 | -4,856,000 | -6,973,000 | 6,984,000 | -9,897,000 | |||||||||||||||||||||||||||||||
other assets | -72,773,000 | -77,933,000 | 55,332,000 | -41,410,000 | 2,397,000 | -6,343,000 | -8,581,000 | -1,845,000 | -1,900,000 | -1,144,000 | -570,000 | -2,013,000 | 539,000 | 14,116,000 | -27,427,000 | -10,265,000 | 3,710,000 | 10,140,000 | -26,686,000 | -17,953,000 | 2,407,000 | -4,957,000 | -853,000 | 7,063,000 | -2,762,000 | -2,023,000 | -7,810,000 | -5,295,000 | -15,321,000 | -573,000 | -11,494,000 | 1,176,000 | -4,120,000 | 686,000 | -1,318,000 | 11,227,000 | -4,514,000 | 3,340,000 | -4,561,000 | -2,849,000 | -1,517,000 | -3,600,000 | -381,000 | 441,000 |
accounts payable and accrued liabilities | 22,040,000 | 83,121,000 | -47,633,000 | 65,251,000 | -34,744,000 | 70,289,000 | -9,407,000 | -10,252,000 | 933,000 | 15,671,000 | -21,438,000 | 6,088,000 | -23,928,000 | -716,000 | 21,642,000 | -16,597,000 | -46,206,000 | 23,965,000 | 67,027,000 | -19,707,000 | 27,157,000 | -13,521,000 | 27,422,000 | -46,316,000 | 29,442,000 | -6,560,000 | 23,009,000 | -14,348,000 | 15,273,000 | -6,893,000 | 31,859,000 | -9,768,000 | 9,404,000 | -1,009,000 | 6,863,000 | -4,992,000 | 5,330,000 | -2,207,000 | 5,887,000 | -1,284,000 | -929,000 | 5,871,000 | 5,625,000 | -7,387,000 |
management fees payable to affiliate | 0 | -200,000 | -500,000 | -260,000 | -1,540,000 | 2,250,000 | -6,455,000 | 238,000 | 859,000 | -1,068,000 | 2,278,000 | -386,000 | 3,334,000 | -701,000 | -1,671,000 | -158,000 | 1,886,000 | -213,000 | -29,000 | -602,000 | 343,000 | 22,000 | -122,000 | -20,865,000 | 10,119,000 | 8,090,000 | 2,029,000 | -1,158,000 | 2,594,000 | -106,000 | 632,000 | -1,300,000 | 1,453,000 | 24,000 | -231,000 | -347,000 | 456,000 | 153,000 | -71,000 | -81,000 | 39,000 | 931,000 | -926,000 | -1,212,000 |
other liabilities | 22,924,000 | -19,053,000 | -55,000 | -3,460,000 | 138,000 | 737,000 | -2,512,000 | -717,000 | -1,645,000 | -1,520,000 | 724,000 | 1,444,000 | 10,295,000 | -2,825,000 | -8,536,000 | 3,406,000 | -2,124,000 | 5,879,000 | -3,315,000 | -322,000 | -7,400,000 | 916,000 | 8,181,000 | -8,057,000 | -1,102,000 | -5,673,000 | -7,501,000 | -561,000 | 5,895,000 | 921,000 | 3,782,000 | -947,000 | 232,000 | -729,000 | -730,000 | 103,000 | 1,085,000 | 2,356,000 | 3,011,000 | 199,000 | -2,843,000 | 1,294,000 | -118,000 | 548,000 |
net cash from operating activities | -179,079,000 | 4,618,000 | -110,318,000 | -25,966,000 | -41,803,000 | 41,483,000 | -187,291,000 | -345,000 | 12,216,000 | 49,525,000 | 28,544,000 | 38,697,000 | 642,000 | 27,270,000 | -50,492,000 | 1,923,000 | -1,336,000 | 43,216,000 | -14,992,000 | -48,932,000 | 34,713,000 | -16,259,000 | 56,458,000 | -11,806,000 | 58,330,000 | 34,601,000 | 37,842,000 | 20,270,000 | 47,282,000 | 27,263,000 | 47,682,000 | 11,470,000 | 16,054,000 | 19,168,000 | 15,595,000 | 17,680,000 | 15,241,000 | 14,672,000 | 4,789,000 | -3,799,000 | -3,342,000 | 12,239,000 | 8,409,000 | 6,222,000 |
capital expenditures | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
free cash flows | -179,079,000 | 4,618,000 | -110,318,000 | -25,966,000 | -41,803,000 | 41,483,000 | -187,291,000 | -345,000 | 12,216,000 | 49,525,000 | 28,544,000 | 38,697,000 | 642,000 | 27,270,000 | -50,492,000 | 1,923,000 | -1,336,000 | 43,216,000 | -14,992,000 | -48,932,000 | 34,713,000 | -16,259,000 | 56,458,000 | -11,806,000 | 58,330,000 | 34,601,000 | 37,842,000 | 20,270,000 | 47,282,000 | 27,263,000 | 47,682,000 | 11,470,000 | 16,054,000 | 19,168,000 | 15,595,000 | 17,680,000 | 15,241,000 | 14,672,000 | 4,789,000 | -3,799,000 | -3,342,000 | 12,239,000 | 8,409,000 | 6,222,000 |
cash flows from investing activities: | ||||||||||||||||||||||||||||||||||||||||||||
investment in unconsolidated entities | -139,848,000 | -69,971,000 | -98,760,000 | -19,967,000 | 0 | 0 | 0 | -19,500,000 | 0 | -5,112,000 | -595,000 | -1,637,000 | -156,000 | -53,394,000 | 173,000 | -1,278,000 | -1,893,000 | -62,000 | -2,452,000 | |||||||||||||||||||||||||
return of capital from unconsolidated entities | 0 | |||||||||||||||||||||||||||||||||||||||||||
principal collections on finance leases | 0 | 630,000 | 285,000 | 1,006,000 | 80,000 | 786,000 | 14,000 | 1,685,000 | 62,000 | 1,590,000 | 508,000 | 67,000 | 5,680,000 | 438,000 | 874,000 | 395,000 | 6,822,000 | 3,681,000 | 3,000,000 | 320,000 | 304,000 | 10,098,000 | 1,707,000 | 1,289,000 | 1,323,000 | 119,000 | 410,000 | 129,000 | 126,000 | 122,000 | 115,000 | 110,000 | 107,000 | 104,000 | 98,000 | 2,204,000 | 2,880,000 | 11,270,000 | 3,201,000 | 2,941,000 | ||||
principal collections on notes receivable | 2,352,000 | 2,318,000 | 1,021,000 | 989,000 | 1,056,000 | 1,012,000 | 898,000 | 1,964,000 | 2,437,000 | 814,000 | ||||||||||||||||||||||||||||||||||
acquisition of business, net of cash acquired | -11,952,000 | -3,990,000 | 0 | 0 | 309,000 | |||||||||||||||||||||||||||||||||||||||
acquisition of leasing equipment | -169,018,000 | -77,645,000 | -144,719,000 | -267,417,000 | -524,975,000 | -186,186,000 | -159,190,000 | -276,990,000 | -242,857,000 | -181,461,000 | -197,949,000 | -127,513,000 | -277,687,000 | -39,876,000 | -101,326,000 | -219,440,000 | -273,060,000 | -129,432,000 | -55,351,000 | -114,781,000 | -68,747,000 | -46,560,000 | -148,729,000 | -57,570,000 | -281,061,000 | -78,337,000 | -100,252,000 | -108,919,000 | -167,496,000 | -124,673,000 | -119,776,000 | -86,043,000 | -158,318,000 | -43,381,000 | -156,375,000 | -67,695,000 | -86,628,000 | -30,298,000 | -56,397,000 | -27,317,000 | -28,418,000 | -110,438,000 | -26,201,000 | -33,000 |
investments in financing receivables | 0 | 0 | -3,001,000 | |||||||||||||||||||||||||||||||||||||||||
acquisition of property, plant and equipment | -10,201,000 | -6,426,000 | -6,929,000 | -4,156,000 | -6,252,000 | -497,000 | -1,159,000 | -1,312,000 | -2,242,000 | -1,608,000 | -847,000 | -1,451,000 | -5,446,000 | -20,021,000 | -64,068,000 | -54,661,000 | -47,927,000 | -25,271,000 | -44,832,000 | -39,302,000 | -55,167,000 | -79,589,000 | -69,671,000 | -60,402,000 | -87,464,000 | -84,455,000 | -78,011,000 | -81,241,000 | 160,968,000 | -54,516,000 | -118,190,000 | -5,849,000 | -511,000 | -5,855,000 | -30,612,000 | -303,000 | -665,000 | -11,472,000 | 306,000 | -353,000 | -144,000 | 0 | ||
acquisition of lease intangibles | -248,000 | 0 | 1,475,000 | 1,282,000 | 1,994,000 | 0 | 312,000 | 862,000 | -10,490,000 | 321,000 | -2,155,000 | -8,640,000 | -24,585,000 | -1,260,000 | 0 | -5,282,000 | -16,614,000 | -6,886,000 | -131,000 | -386,000 | 0 | 0 | 836,000 | 1,161,000 | 707,000 | -724,000 | 1,212,000 | -589,000 | -6,357,000 | -2,814,000 | -1,196,000 | -1,029,000 | -8,566,000 | -1,386,000 | -3,715,000 | -9,000 | 1,000 | |||||||
investment in promissory notes | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||
deposits for acquisitions of leasing equipment | ||||||||||||||||||||||||||||||||||||||||||||
proceeds from sale of assets | 292,061,000 | 301,097,000 | 356,391,000 | 232,946,000 | 426,342,000 | |||||||||||||||||||||||||||||||||||||||
proceeds from sale of assets to the 2025 partnership | 44,862,000 | 87,960,000 | ||||||||||||||||||||||||||||||||||||||||||
proceeds from settlement of insurance claims | 0 | 0 | 24,200,000 | 30,125,000 | ||||||||||||||||||||||||||||||||||||||||
proceeds from deposits on sale of leasing equipment | 880,000 | 6,154,000 | -3,125,000 | 3,376,000 | ||||||||||||||||||||||||||||||||||||||||
return of deposits for acquisition of leasing equipment | 3,752,000 | 848,000 | 0 | 44,303,000 | ||||||||||||||||||||||||||||||||||||||||
net cash from investing activities | 646,000 | 226,520,000 | 523,775,000 | -27,627,000 | -26,767,000 | -223,348,000 | -50,170,000 | -169,213,000 | -182,257,000 | -89,246,000 | -89,523,000 | -12,323,000 | -142,886,000 | 38,417,000 | -78,657,000 | -228,127,000 | -256,678,000 | -826,071,000 | -49,791,000 | -154,418,000 | -101,930,000 | -109,071,000 | -206,997,000 | -91,125,000 | -85,383,000 | -84,196,000 | -159,269,000 | -166,388,000 | -201,927,000 | -176,515,000 | -211,608,000 | -113,483,000 | -164,527,000 | -20,861,000 | -176,042,000 | -78,800,000 | -125,094,000 | -70,626,000 | -52,872,000 | 35,494,000 | -36,209,000 | -114,486,000 | -53,545,000 | -35,681,000 |
cash flows from financing activities: | ||||||||||||||||||||||||||||||||||||||||||||
proceeds from debt | 50,000,000 | 0 | 140,000,000 | 290,000,000 | 512,569,000 | 230,000,000 | 1,629,250,000 | 210,000,000 | 521,665,000 | 105,000,000 | 180,000,000 | 145,000,000 | 310,000,000 | 0 | 95,000,000 | 408,980,000 | 340,527,000 | 1,777,500,000 | 604,500,000 | 171,600,000 | 457,000,000 | 425,000,000 | 155,001,000 | 303,980,000 | 220,125,000 | 39,227,000 | 176,797,000 | 352,680,000 | 135,741,000 | 410,889,000 | 185,750,000 | 18,600,000 | 150,000,000 | 173,280,000 | 8,500,000 | 235,411,000 | 0 | 2,000,000 | 5,500,000 | 103,158,000 | 0 | 0 | 0 | 200,000 |
repayment of debt | -50,000,000 | 0 | -340,000,000 | -90,000,000 | -305,000,000 | -79,931,000 | -1,252,373,000 | -35,000,000 | -275,000,000 | 0 | -110,000,000 | -220,000,000 | -160,000,000 | -759,805,000 | -251,000 | -224,473,000 | -100,527,000 | -900,000,000 | -356,206,000 | -220,000,000 | 0 | -275,991,000 | -186,197,000 | -90,099,000 | -81,613,000 | -47,222,000 | -36,963,000 | -135,982,000 | -33,262,000 | -12,612,000 | -102,600,000 | -10,748,000 | -10,313,000 | -1,562,000 | -2,563,000 | -3,882,000 | -7,311,000 | -146,410,000 | -3,997,000 | -11,131,000 | -4,378,000 | -4,255,000 | ||
payment of deferred financing costs | 0 | -7,000 | -478,000 | -39,000 | -6,531,000 | -580,000 | -9,953,000 | -292,000 | -10,375,000 | -368,000 | -456,000 | -3,746,000 | -3,587,000 | -10,818,000 | -7,616,000 | -34,470,000 | -10,090,000 | -563,000 | -7,827,000 | -7,787,000 | -862,000 | -11,767,000 | -2,633,000 | 858,000 | -3,832,000 | -28,611,000 | -369,000 | -867,000 | -1,748,000 | -71,000 | -145,000 | -510,000 | -2,356,000 | -366,000 | -311,000 | 0 | -1,441,000 | -2,494,000 | ||||||
receipt of security deposits under operating lease agreements | 664,000 | 1,884,000 | 1,373,000 | 1,233,000 | 1,984,000 | |||||||||||||||||||||||||||||||||||||||
return of security deposits under operating lease agreements | -796,000 | -1,035,000 | -2,134,000 | -300,000 | ||||||||||||||||||||||||||||||||||||||||
receipt of maintenance deposits under operating lease agreements | 8,791,000 | 12,122,000 | 13,151,000 | 15,011,000 | 13,750,000 | |||||||||||||||||||||||||||||||||||||||
release of maintenance deposits under operating lease agreements | -85,000 | -91,000 | -1,115,000 | -4,246,000 | -674,000 | |||||||||||||||||||||||||||||||||||||||
proceeds from issuance of ordinary shares, net of underwriter's discount | ||||||||||||||||||||||||||||||||||||||||||||
proceeds from issuance of preferred shares, net of underwriter's discount and issuance costs | 0 | 0 | 0 | 61,729,000 | -1,000 | 0 | 21,000 | 101,180,000 | -529,000 | 111,104,000 | ||||||||||||||||||||||||||||||||||
capital contributions from non-controlling interests | 0 | 0 | 0 | 0 | 0 | 4,047,000 | 0 | 1,013,000 | 6,420,000 | 3,039,000 | 4,918,000 | 17,947,000 | 11,922,000 | |||||||||||||||||||||||||||||||
settlement of equity-based compensation | 0 | 0 | 0 | -238,000 | 0 | -183,000 | 0 | 0 | ||||||||||||||||||||||||||||||||||||
purchase of non-controlling interest shares | 0 | -5,000 | ||||||||||||||||||||||||||||||||||||||||||
redemption of preferred shares | 0 | 0 | 0 | -124,167,000 | ||||||||||||||||||||||||||||||||||||||||
cash dividends - ordinary shares | -35,900,000 | -30,771,000 | -30,767,000 | -30,767,000 | -30,768,000 | -30,661,000 | -30,074,000 | -30,074,000 | -30,071,000 | -29,919,000 | ||||||||||||||||||||||||||||||||||
cash dividends - preferred shares | -3,710,000 | -3,709,000 | -3,709,000 | -6,115,000 | -7,758,000 | -8,336,000 | -8,334,000 | -8,335,000 | -8,335,000 | -8,334,000 | -8,335,000 | -6,791,000 | -6,791,000 | -6,791,000 | -6,791,000 | -6,791,000 | -6,791,000 | -6,791,000 | -6,551,000 | -4,625,000 | -4,626,000 | -4,625,000 | -4,079,000 | -4,539,000 | ||||||||||||||||||||
net cash from financing activities | -31,036,000 | -23,104,000 | -223,679,000 | 50,610,000 | 71,798,000 | 124,268,000 | 341,722,000 | 144,026,000 | 208,068,000 | 71,466,000 | 41,119,000 | -38,445,000 | 122,567,000 | -289,750,000 | 66,287,000 | 145,810,000 | 238,625,000 | 1,099,060,000 | 14,552,000 | 235,408,000 | 65,229,000 | 188,688,000 | 127,199,000 | -16,198,000 | 118,986,000 | 25,803,000 | 67,230,000 | 253,854,000 | 89,982,000 | 260,907,000 | 131,032,000 | 115,946,000 | 31,516,000 | 145,475,000 | -28,200,000 | 214,287,000 | -19,966,000 | -22,380,000 | -23,621,000 | -65,486,000 | -27,045,000 | -20,768,000 | 579,158,000 | 44,626,000 |
net increase in cash and cash equivalents and restricted cash | -209,469,000 | 208,034,000 | 3,228,000 | -57,597,000 | -19,677,000 | -80,394,000 | -19,389,000 | 32,058,000 | -1,988,000 | 63,358,000 | -23,340,000 | -119,129,000 | 91,933,000 | -23,792,000 | -54,197,000 | 107,736,000 | -64,663,000 | 111,655,000 | -32,894,000 | 13,933,000 | ||||||||||||||||||||||||
cash and cash equivalents and restricted cash, beginning of period | 0 | 0 | 0 | 115,266,000 | 0 | 0 | 0 | 90,906,000 | 0 | 0 | 0 | 53,065,000 | 0 | 0 | 0 | 440,061,000 | 0 | 0 | 0 | 161,418,000 | 0 | 0 | 0 | 242,517,000 | 0 | 0 | 0 | 120,837,000 | 0 | 0 | 0 | 92,806,000 | ||||||||||||
cash and cash equivalents and restricted cash, end of period | -209,469,000 | 208,034,000 | 189,778,000 | 112,283,000 | 3,228,000 | -57,597,000 | 104,261,000 | 65,374,000 | 38,027,000 | 31,745,000 | -19,860,000 | 40,994,000 | -19,677,000 | -224,063,000 | -62,862,000 | 359,667,000 | -19,389,000 | 316,205,000 | -50,231,000 | 193,476,000 | -1,988,000 | 63,358,000 | -23,340,000 | 123,388,000 | 91,933,000 | -23,792,000 | -54,197,000 | 228,573,000 | -64,663,000 | 111,655,000 | -32,894,000 | 106,739,000 | ||||||||||||
supplemental disclosure of cash flow information: | ||||||||||||||||||||||||||||||||||||||||||||
cash paid for interest, net of capitalized interest | ||||||||||||||||||||||||||||||||||||||||||||
cash paid for taxes | 197,000 | |||||||||||||||||||||||||||||||||||||||||||
supplemental disclosure of non-cash investing and financing activities | ||||||||||||||||||||||||||||||||||||||||||||
receipt of notes receivable in connection with the sale of leasing equipment | 55,008,000 | 20,894,000 | -22,500,000 | 34,602,000 | ||||||||||||||||||||||||||||||||||||||||
acquisition of leasing equipment in accrued liabilities | 113,000 | -4,047,000 | -10,246,000 | -8,341,000 | ||||||||||||||||||||||||||||||||||||||||
receipt of leasing equipment in settlement of accounts receivable | 43,000 | -1,761,000 | -723,000 | -2,634,000 | ||||||||||||||||||||||||||||||||||||||||
purchase deposits reclassified to leasing equipment from other assets upon acquisition | 0 | -5,800,000 | -29,990,000 | -17,027,000 | ||||||||||||||||||||||||||||||||||||||||
decrease in leasing equipment for engines provided to aircraft lessees in lieu of cash reimbursements of maintenance deposits | 2,928,000 | -1,647,000 | -1,910,000 | 5,756,000 | ||||||||||||||||||||||||||||||||||||||||
accounts receivable settled with security deposits | -957,000 | -395,000 | -1,114,000 | -601,000 | ||||||||||||||||||||||||||||||||||||||||
accounts receivable settled with maintenance deposits | -3,131,000 | -14,635,000 | -3,461,000 | -5,787,000 | ||||||||||||||||||||||||||||||||||||||||
deposits for acquisition of leasing equipment | -8,425,000 | -3,877,000 | -46,344,000 | |||||||||||||||||||||||||||||||||||||||||
bad debt expense | 150,000 | 12,136,000 | 1,550,000 | -186,000 | -547,000 | 1,598,000 | 236,000 | 1,129,000 | 632,000 | 847,000 | 77,000 | 112,000 | 2,950,000 | 185,000 | 65,000 | 80,000 | 1,441,000 | 638,000 | 0 | 32,000 | 31,000 | 24,000 | 79,000 | 23,000 | 32,000 | 421,000 | 96,000 | 155,000 | 4,000 | |||||||||||||||
investment in financing receivables | -2,764,000 | |||||||||||||||||||||||||||||||||||||||||||
net decrease in cash and cash equivalents and restricted cash | -2,983,000 | -25,532,000 | 31,745,000 | -19,860,000 | -12,071,000 | |||||||||||||||||||||||||||||||||||||||
change in fair value of non-hedge derivatives | ||||||||||||||||||||||||||||||||||||||||||||
proceeds from sale of property, plant and equipment | 0 | 985,000 | 1,394,000 | 2,910,000 | 0 | 0 | 7,000 | -55,000 | 47,000 | -7,000 | 38,000 | 0 | 0 | -1,000 | 52,000 | 365,000 | 47,000 | 42,000 | 36,000 | 640,000 | 128,000 | 4,000 | 121,000 | |||||||||||||||||||||
dividend from spin-off of ftai infrastructure, net of cash transferred | 0 | |||||||||||||||||||||||||||||||||||||||||||
non-cash change in equity method investment | 0 | -40,470,000 | -47,714,000 | -94,779,000 | -52,389,000 | -54,640,000 | -32,832,000 | 9,954,000 | -9,787,000 | -13,468,000 | -12,112,000 | 8,758,000 | ||||||||||||||||||||||||||||||||
conversion of interests in unconsolidated entities | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||
change in deferred income taxes | 7,254,000 | -14,272,000 | 4,548,000 | -69,600,000 | 2,847,000 | 1,435,000 | 1,692,000 | -12,762,000 | 8,723,000 | 3,812,000 | 2,388,000 | |||||||||||||||||||||||||||||||||
deposits for acquisitions of aircraft and engines | ||||||||||||||||||||||||||||||||||||||||||||
proceeds (refunds) from deposits on sale of aircraft and engines | ||||||||||||||||||||||||||||||||||||||||||||
return of deposits for acquisition of aircraft and engines | ||||||||||||||||||||||||||||||||||||||||||||
issuance of notes receivable in connection with the sale of aircraft and engines | ||||||||||||||||||||||||||||||||||||||||||||
acquisition of leasing equipment in accrued expenses | 6,203,000 | |||||||||||||||||||||||||||||||||||||||||||
purchase deposits reclassified to leasing equipment from other assets | ||||||||||||||||||||||||||||||||||||||||||||
security deposits settled with accounts receivable | ||||||||||||||||||||||||||||||||||||||||||||
maintenance deposits settled with accounts receivable | ||||||||||||||||||||||||||||||||||||||||||||
gain on sale of net assets | ||||||||||||||||||||||||||||||||||||||||||||
benefit from credit losses | ||||||||||||||||||||||||||||||||||||||||||||
investments in notes and financing receivable | ||||||||||||||||||||||||||||||||||||||||||||
purchase deposits for acquisitions | -79,119,000 | -25,535,000 | 667,000 | -1,260,000 | -9,940,000 | -21,521,000 | -3,750,000 | -3,350,000 | -4,610,000 | 70,000 | -9,250,000 | -730,000 | -1,490,000 | -3,100,000 | -12,215,000 | -29,012,000 | -4,625,000 | 540,000 | -11,004,000 | -6,886,000 | ||||||||||||||||||||||||
proceeds from sale of net assets | ||||||||||||||||||||||||||||||||||||||||||||
proceeds for deposit on sale of aircraft and engine | 2,482,000 | 2,098,000 | 775,000 | 1,042,000 | -4,021,000 | -444,000 | 6,470,000 | 1,775,000 | ||||||||||||||||||||||||||||||||||||
receipt of deposits for sale of aircraft and engine | ||||||||||||||||||||||||||||||||||||||||||||
return of purchase deposits | 0 | 530,000 | 0 | |||||||||||||||||||||||||||||||||||||||||
receipt of security deposits | 2,120,000 | 1,856,000 | 2,572,000 | 1,778,000 | 4,118,000 | 1,459,000 | 1,246,000 | 746,000 | 815,000 | 1,075,000 | 7,380,000 | 370,000 | 950,000 | 70,000 | 1,678,000 | 711,000 | 723,000 | 130,000 | 2,085,000 | 2,327,000 | 1,540,000 | 1,935,000 | 2,180,000 | 3,336,000 | 1,884,000 | 1,864,000 | 1,464,000 | 1,236,000 | 3,165,000 | 1,425,000 | 475,000 | 1,343,000 | 1,542,000 | 455,000 | 365,000 | 670,000 | 525,000 | 500,000 | ||||||
return of security deposits | 0 | -1,090,000 | -1,230,000 | -65,000 | -1,200,000 | -167,000 | 0 | -59,000 | -975,000 | -840,000 | 0 | 0 | -3,815,000 | 0 | -135,000 | 0 | -233,000 | -255,000 | -715,000 | -105,000 | -700,000 | 1,000 | -1,575,000 | -1,625,000 | -32,000 | 0 | 0 | -192,000 | -124,000 | -250,000 | -491,000 | -150,000 | -69,000 | |||||||||||
receipt of maintenance deposits | 12,502,000 | 8,927,000 | 7,607,000 | 4,677,000 | 7,928,000 | 10,142,000 | 10,260,000 | 13,168,000 | 13,582,000 | 10,836,000 | 8,432,000 | 6,820,000 | 7,485,000 | 8,770,000 | 8,267,000 | 6,603,000 | 4,873,000 | 13,626,000 | 15,923,000 | 20,453,000 | 15,408,000 | 13,495,000 | 11,837,000 | 19,453,000 | 12,635,000 | 9,720,000 | 8,265,000 | 8,809,000 | 5,551,000 | 4,424,000 | 3,998,000 | 4,169,000 | 3,566,000 | 3,071,000 | 3,022,000 | 2,797,000 | 2,778,000 | 1,552,000 | ||||||
release of maintenance deposits | -882,000 | -3,056,000 | 0 | -593,000 | 0 | -628,000 | -250,000 | -1,109,000 | -7,544,000 | -588,000 | -11,483,000 | -3,283,000 | -3,244,000 | 0 | -9,185,000 | -3,118,000 | -1,329,000 | -12,686,000 | -9,807,000 | -14,064,000 | -7,242,000 | -2,436,000 | -1,840,000 | -159,000 | 0 | -602,000 | 0 | -268,000 | -5,385,000 | -4,091,000 | -4,831,000 | -2,456,000 | -3,386,000 | |||||||||||
supplemental disclosure of non-cash investing and financing activities: | ||||||||||||||||||||||||||||||||||||||||||||
transfers from leasing equipment to inventory | ||||||||||||||||||||||||||||||||||||||||||||
transfers from inventory to leasing equipment | ||||||||||||||||||||||||||||||||||||||||||||
sale on and issuance of promissory notes | ||||||||||||||||||||||||||||||||||||||||||||
purchase deposits reclassified to leasing equipment | ||||||||||||||||||||||||||||||||||||||||||||
settled security deposits | -2,635,000 | -1,442,000 | ||||||||||||||||||||||||||||||||||||||||||
settled maintenance deposits | -5,572,000 | -18,964,000 | ||||||||||||||||||||||||||||||||||||||||||
gain on sale of leasing equipment | -58,061,000 | |||||||||||||||||||||||||||||||||||||||||||
proceeds from sale of leasing equipment | 128,384,000 | 111,821,000 | 92,836,000 | 119,550,000 | 153,679,000 | 146,841,000 | 124,076,000 | 86,529,000 | 51,491,000 | 80,464,000 | 21,308,000 | 52,581,000 | 4,574,000 | 18,468,000 | 16,020,000 | 9,119,000 | 28,568,000 | 82,164,000 | 94,793,000 | 44,205,000 | 27,292,000 | 13,653,000 | 3,910,000 | 20,363,000 | 6,136,000 | 4,037,000 | 56,852,000 | 20,407,000 | 9,834,000 | 6,980,000 | 0 | 11,513,000 | 4,392,000 | 4,625,000 | 7,500,000 | |||||||||
acquisition of and transfers to leasing equipment | -59,850,000 | |||||||||||||||||||||||||||||||||||||||||||
transfers from leasing equipment | 73,297,000 | |||||||||||||||||||||||||||||||||||||||||||
issuance of ordinary shares | 357,000 | 178,000 | 159,000 | 230,000 | ||||||||||||||||||||||||||||||||||||||||
investment in convertible promissory notes | ||||||||||||||||||||||||||||||||||||||||||||
purchase deposit for acquisitions | ||||||||||||||||||||||||||||||||||||||||||||
security deposits, maintenance deposits, other assets and other liabilities settled in the sale of leasing equipment | 3,989,000 | 65,000 | 9,769,000 | 10,293,000 | ||||||||||||||||||||||||||||||||||||||||
settled and assumed security deposits | -1,447,000 | 2,103,000 | 635,000 | -468,000 | 5,387,000 | -106,000 | -1,857,000 | -10,198,000 | -2,132,000 | -867,000 | -345,000 | -697,000 | 390,000 | -3,670,000 | -3,595,000 | 1,050,000 | 768,000 | -328,000 | 925,000 | -1,604,000 | 2,693,000 | 450,000 | 150,000 | 500,000 | 1,040,000 | 805,000 | 1,171,000 | 296,000 | 1,030,000 | -150,000 | 54,000 | -176,000 | -75,000 | 2,706,000 | -100,000 | -143,000 | ||||||||
billed, assumed and settled maintenance deposits | -3,053,000 | -23,228,000 | 600,000 | 6,774,000 | 25,815,000 | -18,700,000 | -23,514,000 | -31,594,000 | 8,592,000 | -8,179,000 | -17,582,000 | -4,541,000 | -24,653,000 | -14,140,000 | -6,253,000 | -13,860,000 | 2,646,000 | -2,092,000 | 9,158,000 | 5,405,000 | 31,276,000 | -5,331,000 | 2,090,000 | -3,517,000 | 14,066,000 | 18,592,000 | 2,236,000 | 2,398,000 | 2,427,000 | 1,564,000 | ||||||||||||||
change in fair value of non-hedge derivative | -819,000 | -1,514,000 | 766,000 | 4,594,000 | 1,391,000 | -7,964,000 | 0 | 0 | 181,000 | 4,380,000 | -3,470,000 | 3,220,000 | -6,090,000 | 749,000 | 442,000 | -624,000 | 14,000 | 0 | 0 | 0 | 3,000 | 0 | 5,000 | 1,000 | 8,000 | |||||||||||||||||||
(refunds) proceeds for deposit on sale of aircraft and engine | ||||||||||||||||||||||||||||||||||||||||||||
cash dividends - common shares | -32,795,000 | -33,040,000 | -32,749,000 | -32,805,000 | -28,409,000 | -28,412,000 | -28,383,000 | -28,395,000 | -28,395,000 | -28,391,000 | -28,391,000 | -28,387,000 | ||||||||||||||||||||||||||||||||
net loss | 26,801,000 | -18,929,000 | 9,760,000 | -229,659,000 | -39,443,000 | -36,608,000 | -34,876,000 | -3,060,000 | 723,000 | -6,449,000 | -9,333,000 | |||||||||||||||||||||||||||||||||
adjustments to reconcile net loss to net cash from operating activities: | ||||||||||||||||||||||||||||||||||||||||||||
gain on sale of subsidiaries | 0 | 0 | 0 | -1,331,000 | ||||||||||||||||||||||||||||||||||||||||
loss on sale of assets | -31,548,000 | -12,685,000 | -3,987,000 | -811,000 | -1,857,000 | 1,819,000 | ||||||||||||||||||||||||||||||||||||||
proceeds from issuance of common shares, net of underwriter's discount | 31,302,000 | 19,867,000 | 1,000 | 0 | 128,450,000 | 0 | 0 | |||||||||||||||||||||||||||||||||||||
issuance of common shares | 0 | 235,000 | 164,000 | 0 | 0 | 305,000 | 150,000 | 0 | 0 | 150,000 | 154,000 | 0 | 143,000 | 7,000 | 235,000 | 0 | 0 | 151,000 | 150,000 | |||||||||||||||||||||||||
adjustments to reconcile net income to cash from operating activities: | ||||||||||||||||||||||||||||||||||||||||||||
acquisition of remaining interest in jv investment | ||||||||||||||||||||||||||||||||||||||||||||
purchase deposit for aircraft and aircraft engines | -514,000 | -6,060,000 | -4,605,000 | -1,120,000 | -3,456,000 | -9,725,000 | 2,775,000 | -3,275,000 | 4,506,000 | |||||||||||||||||||||||||||||||||||
proceeds from sale of subsidiaries | ||||||||||||||||||||||||||||||||||||||||||||
return of capital distributions from unconsolidated entities | 131,000 | 144,000 | 882,000 | 398,000 | 1,213,000 | 0 | 0 | 31,000 | 401,000 | 807,000 | 1,637,000 | 351,000 | 933,000 | |||||||||||||||||||||||||||||||
repayment and settlement of debt | 0 | |||||||||||||||||||||||||||||||||||||||||||
investment in long ridge jv | ||||||||||||||||||||||||||||||||||||||||||||
settlement of equity based compensation | ||||||||||||||||||||||||||||||||||||||||||||
deferred financing costs | 0 | -935,000 | -30,000 | 1,280,000 | -9,117,000 | 0 | 0 | 188,000 | -3,072,000 | |||||||||||||||||||||||||||||||||||
change in fair value of pension and other retirement benefit liabilities | ||||||||||||||||||||||||||||||||||||||||||||
change in fair value of cash flow hedge | -25,102,000 | -8,584,000 | 77,070,000 | -43,012,000 | 113,000 | -94,000 | 3,000 | -139,000 | ||||||||||||||||||||||||||||||||||||
deferred taxes | ||||||||||||||||||||||||||||||||||||||||||||
proceeds from deposit on sale of aircraft and engine | -825,000 | |||||||||||||||||||||||||||||||||||||||||||
return of deposit on sale of engine | 0 | 0 | 1,010,000 | 0 | 0 | 2,350,000 | 0 | 0 | -400,000 | |||||||||||||||||||||||||||||||||||
purchase of non-controlling interest | -65,000 | |||||||||||||||||||||||||||||||||||||||||||
deferred tax provision | ||||||||||||||||||||||||||||||||||||||||||||
equity in earnings of unconsolidated entities | -1,374,000 | 259,000 | -85,000 | -1,225,000 | -1,241,000 | |||||||||||||||||||||||||||||||||||||||
return of purchase deposit for aircraft and aircraft engines | 4,600,000 | |||||||||||||||||||||||||||||||||||||||||||
investment in notes receivable | 0 | 0 | 0 | -912,000 | 0 | -947,000 | -1,711,000 | -408,000 | -4,093,000 | |||||||||||||||||||||||||||||||||||
investment in unconsolidated entities and available for sale securities | 0 | 0 | 0 | 0 | -1,115,000 | -5,407,000 | -3,731,000 | -6,518,000 | -14,654,000 | |||||||||||||||||||||||||||||||||||
proceeds from deposit on sale of leasing equipment | 0 | 240,000 | 2,445,000 | 60,000 | ||||||||||||||||||||||||||||||||||||||||
return of deposit on sale of leasing equipment | ||||||||||||||||||||||||||||||||||||||||||||
common shares issuance costs | -31,000 | 0 | -657,000 | -132,000 | 0 | -1,287,000 | ||||||||||||||||||||||||||||||||||||||
proceeds from borrowings of debt | 0 | 0 | 0 | 511,000 | 250,000 | 0 | 0 | 108,089,000 | ||||||||||||||||||||||||||||||||||||
equity compensation to non-controlling interest | ||||||||||||||||||||||||||||||||||||||||||||
transfer of non-controlling interest | 0 | |||||||||||||||||||||||||||||||||||||||||||
change in current and deferred income taxes | -2,868,000 | -8,328,000 | 3,822,000 | 16,401,000 | 749,000 | -2,993,000 | 338,000 | -21,000 | 106,000 | 60,000 | 504,000 | -324,000 | 471,000 | -129,000 | 209,000 | 12,000 | -91,000 | 81,000 | -389,000 | -66,000 | 141,000 | -46,000 | 32,000 | |||||||||||||||||||||
issuance costs of preferred shares | -21,000 | -246,000 | ||||||||||||||||||||||||||||||||||||||||||
gain on settlement of liabilities | 0 | |||||||||||||||||||||||||||||||||||||||||||
proceeds from sale of available-for-sale securities | ||||||||||||||||||||||||||||||||||||||||||||
capital distributions to non-controlling interests | -12,000 | -55,000 | -143,000 | -111,000 | ||||||||||||||||||||||||||||||||||||||||
non-cash contribution of non-controlling interest | ||||||||||||||||||||||||||||||||||||||||||||
gain on sale of equipment | -37,061,000 | -262,000 | -40,000 | -1,545,000 | -1,722,000 | -1,382,000 | -1,746,000 | |||||||||||||||||||||||||||||||||||||
cash dividends | -28,384,000 | -28,383,000 | -27,961,000 | -27,961,000 | -27,329,000 | -27,333,000 | -25,017,000 | -25,017,000 | -25,011,000 | -25,013,000 | -25,010,000 | -25,010,000 | ||||||||||||||||||||||||||||||||
equity in losses (earnings) of unconsolidated entities | 384,000 | 1,266,000 | ||||||||||||||||||||||||||||||||||||||||||
(gain) loss on sale of equipment | -1,725,000 | |||||||||||||||||||||||||||||||||||||||||||
common share issuance costs | -591,000 | 0 | 160,000 | 0 | 1,199,000 | |||||||||||||||||||||||||||||||||||||||
operating distributions from unconsolidated entities | 0 | 0 | 0 | 30,000 | 49,000 | -444,000 | 550,000 | 54,000 | ||||||||||||||||||||||||||||||||||||
acquisition of property plant and equipment | -23,641,000 | -29,576,000 | -35,767,000 | -35,892,000 | -14,796,000 | -9,917,000 | -34,173,000 | -4,659,000 | -8,622,000 | -7,960,000 | -17,447,000 | -26,325,000 | -44,296,000 | |||||||||||||||||||||||||||||||
proceeds from sale of finance leases | 0 | 0 | 0 | 71,000,000 | ||||||||||||||||||||||||||||||||||||||||
payment of other liabilities to non-controlling interest holder | 0 | |||||||||||||||||||||||||||||||||||||||||||
financing of property, plant and equipment | 0 | |||||||||||||||||||||||||||||||||||||||||||
non-cash contribution from non-controlling interest | 60,000 | |||||||||||||||||||||||||||||||||||||||||||
loss on sale of equipment | 5,000 | -3,000 | ||||||||||||||||||||||||||||||||||||||||||
change in restricted cash | 3,053,000 | 14,995,000 | 4,579,000 | 9,409,000 | -5,441,000 | 1,581,000 | -1,319,000 | 4,653,000 | ||||||||||||||||||||||||||||||||||||
proceeds from sale of equipment held for sale | ||||||||||||||||||||||||||||||||||||||||||||
capital contributions from shareholders | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||
capital distributions to shareholders | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||
net increase in cash and cash equivalents | -116,957,000 | 153,167,000 | -129,819,000 | -78,334,000 | -71,704,000 | -33,791,000 | -66,596,000 | -123,015,000 | 534,022,000 | 15,167,000 | ||||||||||||||||||||||||||||||||||
cash and cash equivalents, beginning of period | 0 | 0 | 0 | 68,055,000 | 0 | 0 | 0 | 381,703,000 | 0 | 0 | 0 | 22,125,000 | ||||||||||||||||||||||||||||||||
cash and cash equivalents, end of period | -116,957,000 | 143,782,000 | -188,647,000 | 221,222,000 | -129,819,000 | -78,334,000 | -71,704,000 | 347,912,000 | -66,596,000 | -123,015,000 | 534,022,000 | 37,292,000 | ||||||||||||||||||||||||||||||||
restricted cash proceeds from borrowings of debt | 0 | 0 | 0 | 44,342,000 | ||||||||||||||||||||||||||||||||||||||||
equity losses of unconsolidated entities | -132,000 | |||||||||||||||||||||||||||||||||||||||||||
gain on sale of equipment and finance leases | -2,709,000 | -1,999,000 | -2,018,000 | |||||||||||||||||||||||||||||||||||||||||
net decrease in cash and cash equivalents | ||||||||||||||||||||||||||||||||||||||||||||
dividends payable | -827,000 | |||||||||||||||||||||||||||||||||||||||||||
construction deposit related to vessel | ||||||||||||||||||||||||||||||||||||||||||||
collection of notes receivable | ||||||||||||||||||||||||||||||||||||||||||||
acquisition of cmqr | ||||||||||||||||||||||||||||||||||||||||||||
acquisition of jefferson terminal | ||||||||||||||||||||||||||||||||||||||||||||
acquisition of pre-existing debt relationships | ||||||||||||||||||||||||||||||||||||||||||||
proceeds from deposit on sale of engine | 0 | |||||||||||||||||||||||||||||||||||||||||||
escrow funding for the purchase of aircraft | ||||||||||||||||||||||||||||||||||||||||||||
acquisition of jefferson | ||||||||||||||||||||||||||||||||||||||||||||
distribution payable | ||||||||||||||||||||||||||||||||||||||||||||
loan receivable from non-controlling interest | ||||||||||||||||||||||||||||||||||||||||||||
release of restricted cash | 7,529,000 | 997,000 | 14,207,000 | |||||||||||||||||||||||||||||||||||||||||
payments to restricted cash | -1,650,000 | -4,758,000 | -17,124,000 | |||||||||||||||||||||||||||||||||||||||||
investment in and advances to unconsolidated entity | ||||||||||||||||||||||||||||||||||||||||||||
billed and assumed maintenance deposits | 3,483,000 | 173,000 | -379,000 | 1,523,000 | ||||||||||||||||||||||||||||||||||||||||
issuance of common stock | 0 | 112,000 | ||||||||||||||||||||||||||||||||||||||||||
equity based compensation | -3,963,000 | 1,420,000 | ||||||||||||||||||||||||||||||||||||||||||
cash dividends paid | -24,177,000 | -24,985,000 | ||||||||||||||||||||||||||||||||||||||||||
equity in loss (earnings) of unconsolidated entities | -162,000 | |||||||||||||||||||||||||||||||||||||||||||
gain on sale of an unconsolidated entity | ||||||||||||||||||||||||||||||||||||||||||||
acquisition of finance leases | ||||||||||||||||||||||||||||||||||||||||||||
proceeds from sale of investment in unconsolidated entity | ||||||||||||||||||||||||||||||||||||||||||||
purchase of interest rate cap | ||||||||||||||||||||||||||||||||||||||||||||
cash paid for interest | 5,504,000 | |||||||||||||||||||||||||||||||||||||||||||
note receivable from sale of unconsolidated entity | ||||||||||||||||||||||||||||||||||||||||||||
deemed distribution and contribution of capital | ||||||||||||||||||||||||||||||||||||||||||||
partnership's share of change in fair value of cash flow hedge of equity method investee | ||||||||||||||||||||||||||||||||||||||||||||
income from forfeiture of security deposit | 0 | -1,120,000 | ||||||||||||||||||||||||||||||||||||||||||
acquisition of other investment | ||||||||||||||||||||||||||||||||||||||||||||
in-kind redemption of other investment | ||||||||||||||||||||||||||||||||||||||||||||
adjustments to reconcile net income to net cash from | ||||||||||||||||||||||||||||||||||||||||||||
operating activities: | ||||||||||||||||||||||||||||||||||||||||||||
capital contributions from members | 61,991,000 | |||||||||||||||||||||||||||||||||||||||||||
capital distributions to members | -23,718,000 |
