Company: AYR
Filing Date: 2025-04-23
Form Type: 10-K
Source: 0001628280-25-019189
Chunk: 68

Company: Aircastle LTD
Filing Date: 2025-04-23
Form: 10-K
Item: Item 16
Chunk 68
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 shows the components of interest, net. Year Ended February 28/29, 202520242023Interest on borrowings and other liabilities$244,044 $228,539 $196,502 Amortization of deferred financing fees and debt discount17,033 17,090 14,338 Interest expense261,077 245,629 210,840 Less: Interest income(12,492)(13,710)(3,954)Less: Capitalized interest(662)(2,869)(2,280)Interest, net$247,923 $229,050 $204,606 

Note 13.  Commitments and Contingencies

Rent expense, primarily for the corporate office and sales and marketing facilities, was $1.9 million, $2.3 million and $2.1 million for the years ended February 28, 2025, February 29, 2024 and February 28, 2023, respectively.As of February 28, 2025, Aircastle is obligated under non-cancelable operating leases relating principally to office facilities in the United States, Ireland and Singapore for future minimum lease payments as follows:Year Ending February 28/29,Amount2026$2,742 20272,680 20282,712 20291,918 20301,109 Thereafter13,956 Total$25,117 At February 28, 2025, we had commitments to acquire 20 aircraft for $771.7 million.Commitments under signed purchase agreements, including $34.4 million of remaining progress payments, contractual price escalations and other adjustments for these aircraft at February 28, 2025, net of amounts already paid, were as follows:Year Ending February 28/29,Amount2026$524,734 202783,951 2028162,991 2029— 2030— Thereafter— Total$771,676 

F - 25

Aircastle Limited and SubsidiariesNotes to Consolidated Financial Statements(Dollars in thousands, except per share amounts)

Note 14.  Other Assets

Other assets consisted of the following as of February 28, 2025 and February 29, 2024: February 28/29, 20252024Deferred income tax asset$78 $48 Lease incentives and premiums, net of accumulated amortization of $73,915 and