Company: AYR
Filing Date: 2025-01-10
Form Type: 10-Q
Source: 0001628280-25-001098
Chunk: 2

Company: Aircastle LTD
Filing Date: 2025-01-10
Form: 10-Q
Item: Part I, Item 1
Chunk 2
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18,095 $25,645 $52,335 $43,433 Total comprehensive income available to common shareholders$18,095 $25,645 $52,335 $43,433 

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

4

Aircastle Limited and Subsidiaries

Consolidated Statements of Cash Flows

(Dollars in thousands)

(Unaudited)

Nine Months Ended November 30,20242023Cash flows from operating activities:Net income$62,835 $53,933 Adjustments to reconcile net income to net cash and cash equivalents provided by operating activities:Depreciation264,637 261,764 Amortization of deferred financing costs12,722 12,611 Amortization of lease premiums, discounts and incentives18,005 16,972 Deferred income taxes10,480 11,082 Collections on net investment in leases5,285 1,565 Security deposits and maintenance payments included in earnings(9,543)(37,654)Gain on sale or disposition of flight equipment(56,909)(67,240)Gain on extinguishment of debt(285)— Impairment of flight equipment19,391 37,156 Provision for credit losses281 11,405 Other(1,746)(1,769)Changes in certain assets and liabilities:Accounts receivable(4,132)504 Other assets(3,661)(16,164)Accounts payable, accrued expenses and other liabilities35,993 8,351 Lease rentals received in advance13,709 16,551 Net cash and cash equivalents provided by operating activities367,062 309,067 Cash flows from investing activities:Acquisition and improvement of flight equipment(583,541)(669,597)Proceeds from sale or disposition of flight equipment474,053 198,816 Aircraft purchase deposits and progress payments, net of deposits returned and aircraft sales deposits(2,269)3,126 Other(4,796)(5,548)Net cash and cash equivalents used in investing activities(116,553)(473,203)Cash flows from financing activities:Proceeds from issuance of common shares300,000 200,000 Proceeds from secured and unsecured debt financings1,076,193 1,383,709 Repayments of secured and unsecured debt financings(1,304,