Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Consolidated Statements Of Cash Flows

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Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Consolidated Statements Of Cash Flows [Abstract]      
Net income $ 1,177,172 $ 808,498 $ 295,402
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 1,843,003 1,282,228 337,730
Asset impairment 16,335 21,828 26,155
Amortization of debt issuance costs and debt discount 45,582 86,184 47,442
Amortization of lease premium intangibles 23,042 17,967 8,746
Amortization of fair value adjustments on debt (442,972) (330,924)  
Accretion of fair value adjustments on deposits and maintenance liabilities 76,246 71,806  
Maintenance rights write off [1] 628,643 130,806  
Maintenance liability release to income (243,809) (92,296) (13,479)
Net gain on sale of assets (183,328) (37,497) (41,873)
Deferred income taxes 110,353 115,859 21,186
Restructuring expenses 49,311    
Other 90,074 102,139 (1,921)
Changes in operating assets and liabilities:      
Trade receivables 48,468 102,547 2,854
Other assets 88,418 12,704 (32,760)
Accounts payable, accrued expenses and other liabilities 33,502 21,825 43,779
Net cash provided by operating activities 3,360,040 2,313,674 693,261
Purchase of flight equipment (2,772,110) (2,088,444) (1,782,839)
Proceeds from sale or disposal of assets 1,568,235 569,633 664,415
Prepayments on flight equipment (791,546) (458,174) (213,320)
Acquisition of ILFC, net of cash acquired   (195,311)  
Capital contributions to equity investments     (13,180)
Collections of finance and sales-type leases 54,975 40,983 1,617
Movement in restricted cash 297,941 282,523 7,866
Other [2] (73,400)    
Net cash used in investing activities (1,715,905) (1,848,790) (1,335,441)
Issuance of debt 3,913,840 5,411,602 2,299,706
Repayment of debt (4,043,743) (4,826,775) (1,889,194)
Debt issuance costs paid (49,417) (134,963) (45,213)
Maintenance payments received 776,488 561,558 100,708
Maintenance payments returned (558,477) (286,041) (56,909)
Security deposits received 171,408 107,332 23,364
Security deposits returned (144,445) (98,656) (15,032)
Repurchase of shares and tax withholdings on share-based compensation [3] (793,945)    
Net cash (used in) provided by financing activities (728,291) 734,057 417,430
Net increase (decrease) in cash and cash equivalents 915,844 1,198,941 (224,750)
Effect of exchange rate changes (3,115) (4,086) (137)
Cash and cash equivalents at beginning of period 1,490,369 295,514 520,401
Cash and cash equivalents at end of period 2,403,098 1,490,369 295,514
Supplemental cash flow information:      
Interest paid, net of amounts capitalized 1,409,860 1,103,512 211,075
Income taxes paid, net $ 20,178 $ 37,630 $ 4,966
[1] (a) Maintenance rights write off consisted of the following: EOL and MR contract maintenance rights expense$ 348,366$ 54,507$ - EOL contract maintenance rights write off due to cash receipt 118,438 27,570 - MR contract maintenance rights write off due to maintenance liability release 161,839 48,729 - Maintenance rights write off$ 628,643$ 130,806$ -
[2] Relates to the settlement of three asset value guarantees during the year ended December 31, 2015. Refer to Note 29-Commitments and contingencies.
[3] Includes the Share Repurchase of $750.0 million from AIG and $11.2 million of related expenses. Refer to Note 17-Equity and Note 28-Related party transactions for further details.