← FTAI Aviation Ltd.
| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | |||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
| Net Income (Loss) Attributable to Parent | ($20.1m) | $134k | $5.9m | $223.3m | ($105.0m) | ($130.7m) | ($212.0m) | $243.8m | $8.7m | $501.1m | |
| Net Income (Loss) Available to Common Stockholders, Basic | ($40.6m) | ($23.2m) | ($15.7m) | $207.8m | ($103.7m) | ($129.0m) | ($220.4m) | $212.0m | ($32.1m) | $477.5m | |
| Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | ($40.6m) | ($23.2m) | ($15.7m) | $207.8m | ($103.7m) | ($130.7m) | ($212.0m) | $243.8m | $8.7m | $501.1m | |
| Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent | — | — | — | $150.1m | ($106.4m) | ($129.0m) | ($137.8m) | $212.0m | ($32.1m) | — | |
| Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | — | — | — | $134.3m | ($105.0m) | ($130.7m) | ($110.6m) | $243.8m | $8.7m | $501.1m | |
| Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | — | — | — | $73.5m | $1.3m | $0 | ($101.4m) | $0 | $0 | — | |
| Net Income (Loss) Attributable to Noncontrolling Interest | ($20.5m) | ($23.4m) | ($21.6m) | — | — | — | $0 | $0 | — | — | |
| Depreciation, Depletion and Amortization | $60.2m | $88.1m | $136.4m | $169.0m | $172.4m | $201.8m | $152.9m | $169.9m | $218.1m | $225.8m | |
| Amortization | $2.6m | $4.2m | $5.4m | $8.1m | $7.3m | $21.7m | $17.0m | $8.9m | $11.5m | $11.8m | |
| Amortization of Debt Issuance Costs | $2.6m | $4.2m | $5.4m | $8.3m | $7.3m | $21.7m | $19.0m | $8.9m | $11.5m | $11.8m | |
| Depreciation | $12.7m | $15.2m | $22.7m | $30.7m | $26.6m | $47.9m | $193.2m | $169.9m | $218.1m | $225.8m | |
| Other Depreciation and Amortization | — | — | — | — | — | — | $190.0m | $213.6m | — | — | |
| Amortization of lease intangibles and incentives | $5.4m | $8.3m | $26.7m | $30.2m | $30.3m | $28.0m | $37.1m | $43.8m | $44.0m | $41.8m | |
| Amortization of deferred financing costs | $2.6m | $4.2m | $5.4m | $8.3m | $7.3m | $21.7m | $19.0m | $8.9m | $11.5m | $11.8m | |
| Deferred Income Tax Expense (Benefit) | ($23k) | $182k | $984k | $17.1m | ($6.6m) | ($2.3m) | $2.6m | ($63.6m) | $1.9m | $74.0m | |
| Deferred income taxes | ($387k) | $227k | $649k | $14.5m | ($5.9m) | ($2.1m) | $2.2m | ($63.6m) | ($1.9m) | $74.0m | |
| Share-based Payment Arrangement, Noncash Expense | — | — | — | — | — | — | — | — | $6.0m | $21.7m | |
| Share-based Payment Arrangement, Expense | ($3.7m) | $1.3m | $901k | $1.5m | $2.3m | $4.0m | $0 | $1.6m | $6.0m | $21.7m | |
| Goodwill, Impairment Loss | — | $0 | $0 | $0 | $0 | $0 | $0 | — | — | $0 | |
| Asset impairment | $7.5m | $0 | $0 | $4.7m | $34.0m | $10.5m | $137.2m | $2.1m | $962k | $0 | |
| Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property | $5.9m | $18.3m | $3.9m | $203.2m | ($308k) | $49.0m | $77.2m | $0 | $18.7m | ($27.7m) | |
| Gain (Loss) on Disposition of Assets | — | $7.2m | $3.9m | $82.0m | — | — | — | — | — | $0 | |
| Gain (Loss) on Disposition of Business | — | — | — | $198.8m | $1.3m | $0 | $0 | — | — | — | |
| Gain (Loss) on Disposition of Other Assets | — | — | — | $82.0m | ($308k) | $49.0m | $141.7m | $160.7m | $377.9m | $377.5m | |
| Gain (Loss) on Disposition of Property Plant Equipment | $5.3m | $0 | $0 | ($47.5m) | ($13.2m) | ($581k) | $77.2m | ($699k) | ($18.7m) | ($27.7m) | |
| Gain (Loss) on Extinguishment of Debt | ($1.6m) | ($2.5m) | $0 | $0 | ($11.7m) | ($3.3m) | ($19.9m) | $0 | ($17.1m) | $0 | |
| Income (Loss) from Equity Method Investments | ($6.0m) | ($1.6m) | ($1.0m) | ($2.4m) | ($5.0m) | ($12.7m) | ($369k) | ($1.6m) | ($2.2m) | ($6.8m) | |
| Income Tax Expense (Benefit) | $268k | $2.0m | $1.4m | $17.8m | ($5.9m) | ($1.1m) | $5.3m | ($59.8m) | $5.5m | $105.6m | |
| Interest Expense Nonoperating | — | — | — | — | — | — | — | — | $221.7m | $247.8m | |
| Other Nonoperating Income (Expense) | $602k | $3.1m | $3.9m | $3.4m | $70k | ($10.9m) | $207k | $7.6m | $17.4m | $73.6m | |
| Loss on extinguishment of debt | $1.6m | $2.5m | $0 | $0 | $11.7m | $3.3m | $19.9m | $0 | $17.1m | $0 | |
| Receipt of security deposits under operating lease agreements | $3.8m | $7.3m | $9.3m | $7.9m | $3.2m | $8.8m | $3.9m | $9.9m | $8.1m | $5.2m | |
| Return of security deposits under operating lease agreements | ($316k) | ($3.2m) | ($1.8m) | ($368k) | ($4.7m) | ($1.2m) | ($2.1m) | ($2.4m) | ($421k) | ($4.3m) | |
| Receipt of maintenance deposits under operating lease agreements | $14.8m | $27.0m | $53.6m | $65.3m | $33.4m | $31.5m | $47.8m | $30.4m | $49.3m | $49.1m | |
| Release of maintenance deposits under operating lease agreements | ($6.3m) | ($6.3m) | ($25.6m) | ($26.9m) | ($15.7m) | ($20.7m) | ($1.5m) | ($275k) | ($7.1m) | ($5.5m) | |
| Income (Loss) from Equity Method Investments, Net of Dividends or Distributions | — | — | — | — | — | — | ($47) | ($2) | ($2) | — | |
| Changes in operating assets and liabilities: | |||||||||||
| Additional Financial Items | |||||||||||
| Increase (Decrease) in Accounts Receivable | $8.0m | $12.0m | $23.3m | $22.6m | $59.7m | $88.9m | $66.0m | $40.4m | $41.2m | $42.4m | |
| Increase (Decrease) in Inventories | — | — | — | — | — | — | $23.3m | $31.9m | $206.9m | $645.5m | |
| Gain (Loss) Related to Litigation Settlement | — | $1.1m | $0 | $0 | — | — | — | — | — | — | |
| General and Administrative Expense | $12.3m | $14.6m | $17.1m | $20.4m | $18.2m | $17.4m | $14.2m | $13.7m | $14.3m | $9.5m | |
| Goodwill | $116.6m | $116.6m | $116.6m | $122.6m | $122.7m | $257.1m | — | $4.6m | $61.1m | $94.2m | |
| Nonoperating Income (Expense) | ($8.3m) | $18.0m | $7.3m | $200.1m | ($16.8m) | $23.8m | $57.2m | $6.0m | ($223.7m) | ($134.6m) | |
| Operating Costs and Expenses | — | — | — | $288.0m | $109.5m | $172.5m | $132.3m | — | $115.9m | — | |
| Operating Expenses | $66.2m | $92.4m | $167.5m | $288.0m | $109.5m | $172.5m | — | — | — | — | |
| Payments of Financing Costs | $4.2m | $3.4m | $3.1m | $34.2m | $28.2m | $52.7m | $18.6m | $12.2m | $17.4m | $524k | |
| Proceeds from Contributions from Affiliates | $11.5m | $35k | $0 | $0 | — | — | $1.2m | $10k | — | — | |
| Provision for Loan, Lease, and Other Losses | — | — | — | — | — | — | — | — | $2.8m | — | |
| Equity in losses of unconsolidated entities | $6.0m | $1.6m | $1.0m | $2.4m | $5.0m | $12.7m | $47.0m | $1.6m | $2.2m | $6.8m | |
| Gain on sale of assets | — | ($18.3m) | ($3.9m) | ($82.0m) | $308k | ($49.0m) | ($141.7m) | ($160.7m) | ($377.9m) | ($377.5m) | |
| Gain on sale of assets to the 2025 Partnership | — | — | — | — | — | — | — | $0 | $0 | ($46.4m) | |
| Gain on insurance recoveries | — | — | — | — | — | — | — | $0 | $0 | ($54.3m) | |
| Security deposits and maintenance claims included in earnings | ($300k) | ($60k) | ($6.3m) | ($20.4m) | ($6.4m) | ($39.1m) | ($41.8m) | ($40.5m) | ($16.8m) | ($20.9m) | |
| Equity-based compensation | ($3.7m) | $1.3m | $901k | $8.4m | $2.3m | $4.0m | $2.6m | $1.6m | $6.0m | $21.7m | |
| Non-cash termination fee to affiliate (issuance of ordinary shares) | — | — | — | — | — | — | $0 | $0 | $150.0m | $0 | |
| Change in fair value of guarantees | — | — | — | — | — | $0 | $0 | ($1.8m) | $2.1m | $3.1m | |
| Provision for credit losses | $158k | $701k | $1.8m | $4.0m | $3.6m | $13.0m | $48.0m | $6.6m | $2.8m | $574k | |
| Other | $86k | $732k | ($4k) | $827k | $1.5m | ($440k) | ($1.0m) | ($6.6m) | ($273k) | $4.2m | |
| Accounts receivable | ($8.0m) | ($12.0m) | ($23.3m) | ($22.6m) | ($59.7m) | ($88.9m) | ($66.0m) | ($40.4m) | ($41.2m) | ($42.4m) | |
| Inventory | — | — | — | — | $0 | $0 | ($23.3m) | ($31.9m) | ($206.9m) | ($645.5m) | |
| Other assets | ($8.6m) | $6.5m | ($26.2m) | ($17.9m) | $3.7m | ($30.8m) | ($23.0m) | ($5.6m) | ($14.4m) | ($136.8m) | |
| Accounts payable and accrued liabilities | $7.7m | $10.3m | $30.5m | $31.5m | ($5.3m) | $25.1m | ($19.6m) | $1.3m | $15.9m | $122.8m | |
| Management fees payable to affiliate | $457k | $899k | $1.8m | $19.1m | ($20.6m) | $1.0m | $804k | $1.7m | ($5.5m) | ($960k) | |
| Other liabilities | $6.7m | ($1.1m) | $9.7m | ($14.8m) | ($6.4m) | $118k | $2.3m | ($997k) | ($2.4m) | $356k | |
| Investment in unconsolidated entities | ($28.8m) | ($30.3m) | ($1.1m) | ($13.5m) | ($4.7m) | ($54.7m) | ($7.3m) | ($19.5m) | $0 | ($328.5m) | |
| Return of capital from unconsolidated entities | $432k | $0 | $2.1m | $1.6m | $0 | $0 | — | $0 | $0 | $27.1m | |
| Principal collections on finance leases | $2.5m | $473k | $2.0m | $13.4m | $13.8m | $7.4m | $2.2m | $3.6m | $2.2m | $1.6m | |
| Principal collections on notes receivable | $0 | — | — | — | — | $0 | $0 | $4.9m | $4.9m | $6.7m | |
| Acquisition of leasing equipment | ($200.6m) | ($425.8m) | ($498.0m) | ($568.6m) | ($321.6m) | ($572.6m) | ($638.3m) | ($749.8m) | ($1.1b) | ($658.8m) | |
| Investments in financing receivables | — | — | — | — | — | — | $0 | $0 | ($66.9m) | ($2.8m) | |
| Acquisition of lease intangibles | ($4.5m) | ($10.1m) | ($11.4m) | $606k | $2.0m | ($24.0m) | ($31.1m) | ($21.0m) | $3.2m | $2.5m | |
| Investment in promissory notes | ($3.1m) | $0 | ($912k) | $0 | $0 | $0 | $0 | ($11.5m) | $0 | ($4.7m) | |
| Deposits for acquisitions of leasing equipment | ($13.7m) | ($12.3m) | ($10.2m) | ($1.0m) | ($8.3m) | ($13.7m) | ($6.7m) | ($23.9m) | ($158.3m) | ($65.9m) | |
| Proceeds from sale of assets | — | — | — | — | — | — | $408.9m | $477.9m | $969.3m | $1.7b | |
| Proceeds from settlement of insurance claims | — | — | — | — | — | — | — | $0 | $0 | $54.3m | |
| Proceeds from deposits on sale of leasing equipment | — | — | — | — | — | $600k | $3.8m | $1.4m | $79.8m | $7.3m | |
| Return of deposits for acquisition of leasing equipment | — | — | — | — | — | — | $0 | $300k | $530k | $48.9m | |
| Payment of deferred financing costs | ($4.2m) | ($3.4m) | ($3.1m) | ($34.2m) | ($28.2m) | ($52.7m) | ($18.6m) | ($12.2m) | ($17.4m) | ($524k) | |
| Proceeds from issuance of ordinary shares, net of underwriter's discount | $0 | $0 | $148.3m | $0 | $0 | $323.1m | $0 | $5k | $0 | $0 | |
| Proceeds from issuance of preferred shares, net of underwriter's discount and issuance costs | — | $0 | $0 | $194.0m | $19.7m | $101.2m | $0 | $61.7m | $0 | $0 | |
| Capital contributions from non-controlling interests | $11.5m | $35k | $0 | $0 | $0 | $0 | $1.2m | $10k | $0 | $0 | |
| Settlement of equity-based compensation | ($200k) | ($74k) | $0 | ($8.1m) | ($120k) | ($421k) | ($148k) | $0 | $0 | ($1.5m) | |
| Purchase of non-controlling interest shares | $0 | $0 | ($3.7m) | $0 | $0 | — | $0 | $0 | ($534k) | $0 | |
| Redemption of preferred shares | — | — | — | — | — | — | $0 | $0 | ($105.4m) | ($124.2m) | |
| Receipt of notes receivable in connection with the sale of leasing equipment | — | — | — | — | — | — | — | $46.7m | $88.3m | $88.0m | |
| Acquisition of leasing equipment in accrued liabilities | ($7.7m) | ($35.3m) | ($14.3m) | ($24.5m) | $141.5m | $47.1m | $65.5m | ($105.3m) | ($22.1m) | ($22.5m) | |
| Receipt of leasing equipment in settlement of accounts receivable | — | — | — | — | — | — | $0 | ($14.2m) | $0 | ($5.1m) | |
| Accounts receivable settled with security deposits | — | — | — | — | — | — | ($13.5m) | ($6.0m) | ($4.8m) | ($3.1m) | |
| Accounts receivable settled with maintenance deposits | — | — | — | — | — | — | ($9.4m) | ($1.9m) | ($45.7m) | ($27.0m) | |
| Net Cash Provided by (Used in) Operating Activities | $30.9m | $68.5m | $133.7m | $151.0m | $63.1m | ($22.0m) | ($20.7m) | $129.0m | ($188.0m) | ($310.7m) | |
| Cash flows from investing activities: | |||||||||||
| Payments to Acquire Property, Plant, and Equipment | $57.4m | $116.0m | $230.0m | $331.2m | $264.8m | $157.3m | $144.2m | $6.1m | $9.2m | $27.7m | |
| Payments to Acquire Businesses, Net of Cash Acquired | — | — | — | — | — | $627.1m | $3.8m | $29.6m | $147.6m | $49.1m | |
| Acquisition of business, net of cash acquired | — | — | — | $0 | $0 | $627.1m | ($3.8m) | ($29.6m) | ($147.6m) | ($49.1m) | |
| Net Cash Provided by (Used in) Investing Activities | ($213.1m) | ($440.2m) | ($703.5m) | ($495.2m) | ($509.1m) | ($1.3b) | ($411.3m) | ($373.3m) | ($469.5m) | $723.3m | |
| Cash flows from financing activities: | |||||||||||
| Proceeds from Issuance of Long-term Debt | $110.7m | $567.2m | $751.0m | $788.8m | $1.3b | $2.9b | $814.0m | $951.7m | $2.6b | $480.0m | |
| Proceeds from debt | $110.7m | $567.2m | $751.0m | $788.8m | $1.3b | $2.9b | $814.0m | $951.7m | $2.6b | $480.0m | |
| Repayments of Long-term Debt | $160.2m | $125.2m | $218.8m | $405.1m | $852.2m | $1.6b | $1.1b | $605.0m | $1.7b | $480.0m | |
| Repayment of debt | ($160.2m) | ($125.2m) | ($218.8m) | ($405.1m) | ($852.2m) | ($1.6b) | ($1.1b) | ($605.0m) | ($1.7b) | ($480.0m) | |
| Proceeds from Issuance of Common Stock | $0 | $0 | $148.3m | $0 | $0 | $323.1m | $0 | $5k | $0 | $0 | |
| Payments of Ordinary Dividends, Common Stock | $100 | $100 | $111 | $114 | $114 | $118 | $128 | $120 | $122 | $128 | |
| Proceeds from Noncontrolling Interests | — | — | — | — | — | — | — | — | $0 | — | |
| Proceeds from (Payments to) Noncontrolling Interests | — | — | — | — | — | — | — | — | — | $0 | |
| Cash dividends - ordinary shares | — | ($100) | ($111) | ($114) | ($114) | ($118) | ($128) | ($120) | ($122) | ($128) | |
| Cash dividends - preferred shares | — | $0 | $0 | ($1.8m) | ($17.9m) | ($24.8m) | ($27.2m) | ($31.8m) | ($32.8m) | ($17.2m) | |
| Net cash (used in) provided by financing activities | ($131.5m) | $363.1m | $597.9m | $465.9m | $364.9m | $1.6b | $44.9m | $282.2m | $681.8m | ($227.2m) | |
| Net Cash Provided by (Used in) Financing Activities | ($131.5m) | $363.1m | $597.9m | $465.9m | $364.9m | $1.6b | $44.9m | $282.2m | $681.8m | ($227.2m) | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | — | ($40.7m) | $28.0m | $121.7m | ($81.1m) | $278.6m | ($387.0m) | $37.8m | $24.4m | $185.4m | |
| Net increase (decrease) in cash and cash equivalents and restricted cash | ($269.8m) | ($40.7m) | $28.0m | $121.7m | ($81.1m) | $278.6m | ($387.0m) | $37.8m | $24.4m | $185.4m | |
| Decrease in leasing equipment for engines provided to aircraft lessees in lieu of cash reimbursements of maintenance deposits | — | — | — | — | — | — | $6.1m | $11.0m | $0 | $5.1m | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | ($269.8m) | ($40.7m) | $120.8m | $242.5m | $161.4m | $440.1m | $53.1m | $90.9m | $115.3m | $300.6m | |
| Cash and cash equivalents and restricted cash, beginning of period | $133.5m | $92.8m | $120.8m | $242.5m | $161.4m | $440.1m | $53.1m | $90.9m | $115.3m | $300.6m | |
| Supplemental disclosure of cash flow information: | |||||||||||
| Interest Paid, Excluding Capitalized Interest, Operating Activities | $13.2m | $25.1m | $43.6m | $83.2m | $71.6m | $142.2m | $185.1m | $150.6m | $222.1m | $235.2m | |
| Income Taxes Paid, Net | $654k | $1.7m | $721k | $1.1m | $0 | $402k | $3.3m | $1.4m | $5.7m | $15.7m |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.