Company: AYR
Filing Date: 2025-10-09
Form Type: 10-Q
Source: 0001628280-25-044676
Chunk: 68

Company: Aircastle LTD
Filing Date: 2025-10-09
Form: 10-Q
Item: Part I, Item 8
Chunk 68
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 The Company has appropriately considered the impact of the Bermuda CIT and its impact on current and deferred income taxes.

18

Aircastle Limited and SubsidiariesNotes to Unaudited Consolidated Financial Statements(Dollars in thousands, except per share amounts)August 31, 2025

On July 4, 2025, the One Big Beautiful Bill Act (the “OBBBA”) was enacted into law in the United States.  The OBBBA introduces an increased tax deduction for interest expense and a 100% bonus depreciation on U.S. leased assets.  The Company does not anticipate these changes will have a material impact on its consolidated financial statements.

Note 12. Interest, Net

The following table shows the components of interest, net: Three Months EndedAugust 31,Six Months Ended August 31, 2025202420252024Interest on borrowings and other liabilities$68,624 $61,762 $134,901 $123,629 Amortization of deferred financing fees and debt discount4,659 4,247 9,129 8,590 Interest expense73,283 66,009 144,030 132,219 Less: Interest income(2,754)(3,585)(4,660)(4,320)Less: Capitalized interest— — — (662)Interest, net$70,529 $62,424 $139,370 $127,237 

Note 13. Commitments and Contingencies

Rent expense, for office space leased in Stamford, Connecticut, Dublin, Ireland and Singapore was $0.4 million and $0.5 million for the three months ended August 31, 2025 and 2024, respectively, and $0.9 million and $1.0 million for the six months ended August 31, 2025 and 2024, respectively.As of August 31, 2025, future minimum lease payments relating to our non-cancelable office leases were as follows:Year Ending February 28/29,Amount2026 (Remainder of fiscal year)$1,592 20273,201 20283,232 20292,438 20301,629 Thereafter15,795 Total$27,887 At August 31, 2025, we had commitments to purchase 20 aircraft for $1.0 billion.At August 31, 2025, commitments,