Company: AYR
Filing Date: 2025-04-23
Form Type: 10-K
Source: 0001628280-25-019189
Chunk: 41

Company: Aircastle LTD
Filing Date: 2025-04-23
Form: 10-K
Item: Item 16
Chunk 41
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,092 Total other income56,532 5,571 13,456 Income from continuing operations before income taxes and earnings of unconsolidated equity method investment142,458 104,376 86,037 Income tax provision21,948 23,265 25,466 Earnings of unconsolidated equity method investment, net of tax3,103 2,205 2,188 Net income$123,613 $83,316 $62,759 Preference share dividends(21,000)(21,000)(21,000)Net income available to common shareholders$102,613 $62,316 $41,759 Total comprehensive income available to common shareholders$102,613 $62,316 $41,759 

The accompanying notes are an integral part of these consolidated financial statements.

F - 5

Aircastle Limited and Subsidiaries

Consolidated Statements of Cash Flows

(Dollars in thousands)

 Year Ended February 28/29, 202520242023Cash flows from operating activities:Net income$123,613 $83,316 $62,759 Adjustments to reconcile net income to net cash provided by operating activities:Depreciation355,666 348,229 332,663 Amortization of deferred financing costs17,033 17,090 14,338 Amortization of lease premiums, discounts and incentives21,682 20,420 20,574 Deferred income taxes17,550 20,053 13,690 Collections on net investments in leases7,628 3,557 6,505 Security deposits, maintenance payments and insurance settlements included in earnings(59,959)(54,373)(66,194)Gain on sale or disposition of flight equipment(77,191)(121,646)(70,860)(Gain) loss on extinguishment of debt(285)— 636 Impairment of aircraft19,391 55,240 85,623 Provision for credit losses8,715 12,081 1,507 Other(3,188)(2,512)(2,211)Changes on certain assets and liabilities:Accounts receivable(6,984)(443)17,338 Other assets13,532 (9,317)(12,510)Accounts payable, accrued expenses and other liabilities7,475 (15,907)4,278