Current report of foreign issuer pursuant to Rules 13a-16 and 15d-16 Amendments

Unaudited Condensed Consolidated Statements of Cash Flows

v3.21.2
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Statement of Cash Flows [Abstract]    
Net income $ 477,905 $ 527,409
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 788,720 827,616
Asset impairment 73,386 87,368
Amortization of debt issuance costs, debt discount, debt premium and lease premium 33,932 31,242
Amortization of fair value adjustments on debt (8,254) (32,740)
Maintenance rights write-off (a) [1] 30,211 65,265
Maintenance liability release to income (140,047) (228,640)
Net gain on sale of assets (27,248) (68,368)
Deferred income taxes 82,388 84,658
Share-based compensation 41,986 32,508
Collections of finance and sales-type leases 42,344 26,991
Loss (gain) on investment at fair value 2,463 (13,942)
Loss on debt extinguishment 6,061 0
Transaction-related expenses 74,601 0
Other 2,863 101,368
Changes in operating assets and liabilities:    
Trade receivables 21,394 (157,410)
Other assets (198,019) (349,746)
Accounts payable, accrued expenses and other liabilities (133,183) 3,229
Net cash provided by operating activities 1,171,503 936,808
Purchase of flight equipment (470,584) (159,930)
Proceeds from sale or disposal of assets 267,779 322,241
Prepayments on flight equipment (30,537) (723,729)
Net cash used in investing activities (233,342) (561,418)
Issuance of debt 1,320,537 6,890,002
Repayment of debt (1,945,210) (5,652,418)
Debt issuance and extinguishment costs paid, net of debt premium received (221,037) (27,157)
Maintenance payments received 163,280 194,779
Maintenance payments returned (91,957) (208,630)
Security deposits received 108,057 43,791
Security deposits returned (156,314) (150,767)
Dividend paid to non-controlling interest holders and others (183) (2,746)
Repurchase of shares and tax withholdings on share-based compensation (16,503) (118,836)
Net cash (used in) provided by financing activities (839,330) 968,018
Net increase in cash, cash equivalents and restricted cash 98,831 1,343,408
Effect of exchange rate changes (756) (634)
Cash, cash equivalents and restricted cash at beginning of period 1,495,290 1,300,347
Cash, cash equivalents and restricted cash at end of period 1,593,365 2,643,121
Supplemental cash flow information:    
Interest paid, net of amounts capitalized 564,071 625,668
Income taxes refunded, net $ (201) $ (9,587)
[1] Maintenance rights write-off consisted of the following:
      End of Lease (EOL) and Maintenance Reserved (MR) contract maintenance rights expense
$ 6,170  $ 28,078 
      MR contract maintenance rights write-off due to maintenance liability release 7,340  1,841 
      EOL contract maintenance rights write-off due to cash receipt 16,701  35,346 
      Maintenance rights write-off $ 30,211  $ 65,265