Company: AYR
Filing Date: 2025-01-10
Form Type: 10-Q
Source: 0001628280-25-001098
Chunk: 65

Company: Aircastle LTD
Filing Date: 2025-01-10
Form: 10-Q
Item: Part I, Item 8
Chunk 65
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uation” below for further information.We account for our unconsolidated equity method investment under the equity method of accounting. Our investment is recorded at cost and is adjusted by undistributed earnings and losses and the distributions of dividends and capital. This investment is reviewed for impairment whenever events or changes in circumstances indicate the fair value is less than its carrying value and the decline is other-than-temporary.Financial InstrumentsOur financial instruments, other than cash, consist principally of cash equivalents, accounts receivable, investments in debt and equity securities, accounts payable and secured and unsecured financings. The fair value of cash and cash equivalents, accounts receivable and accounts payable approximates the carrying value of these financial instruments because of their short-term nature.The fair value of our investments, which consist of debt and equity securities, have been valued using either quoted market prices to the extent such securities are traded in an active market (Level 1), or using the income approach for those securities where there is no active market or there is limited market data (Level 3). The fair value of our senior notes is 

10

Aircastle Limited and SubsidiariesNotes to Unaudited Consolidated Financial Statements(Dollars in thousands, except per share amounts)November 30, 2024

estimated using quoted market prices (Level 1), whereas all our other financings are valued using a discounted cash flow analysis, based on our current incremental borrowing rates for similar types of borrowing arrangements (Level 2).The carrying amounts and fair values of our financial instruments at November 30, 2024, and February 29, 2024 were as follows:November 30, 2024February 29, 2024AssetsCarrying Amountof AssetFair Valueof AssetCarrying Amountof AssetFair Valueof AssetInvestments, at fair value(1)$10,362 $10,362 $10,160 $10,160 Other investments, net(2)5,063 5,063 5,079 5,079 LiabilitiesCarrying Amountof LiabilityFair Valueof LiabilityCarrying Amountof LiabilityFair Valueof LiabilityCredit Facilities$20,000 $20,000 $20,000 $20,000 Term Financings657,091 655,079 883,451 885,139 Senior Notes3,850,000 3,861,008 3,850,000 3,738,146 _______________(1)See Assets Me