Company: AYR
Filing Date: 2025-04-23
Form Type: 10-K
Source: 0001628280-25-019189
Chunk: 55

Company: Aircastle LTD
Filing Date: 2025-04-23
Form: 10-K
Item: Item 16
Chunk 55
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24AssetsCarrying Amountof AssetFair Valueof AssetCarrying Amountof AssetFair Valueof AssetInvestments, at fair value(1)$9,912 $9,912 $10,160 $10,160 Other investments, net(2)4,916 4,916 5,079 5,079 LiabilitiesCarrying Amountof LiabilityFair Valueof LiabilityCarrying Amountof LiabilityFair Valueof LiabilityCredit Facilities$150,000 $150,000 $20,000 $20,000 Term Financings509,104 513,161 883,451 885,139 Senior Notes4,350,000 4,387,341 3,850,000 3,738,146 _______________(1)See Assets Measured at Fair Value on a Recurring Basis.(2)We had a $4.1 million and $3.2 million allowance for credit losses on certain investments in debt securities that are carried at amortized cost as of February 28, 2025 and February 29, 2024, respectively – see Note 15.Aircraft ValuationImpairment of Flight EquipmentDuring the year ended February 28, 2025, the Company recorded impairment charges totaling $19.4 million, including $11.0 million of transactional impairments related to a scheduled lease expiration and an aircraft lease amendment. The Company recognized $24.0 million of maintenance revenue for these aircraft during the year ended February 28, 2025.  Total impairment charges also included $8.4 million related to flight equipment that was recorded as a component of other assets and subject to tear-down and parts sales programs.During the year ended February 29, 2024, the Company recorded impairments charges totaling $55.2 million.  Of the total impairments, $39.5 million were transactional impairments related to scheduled aircraft lease expirations and engine redeliveries during the year ended February 29, 2024.  The Company recognized $48.0 million of maintenance revenue for these aircraft and engines.Recoverability AssessmentWe perform a recoverability assessment of all aircraft and other flight equipment on a quarterly basis and annually during the third quarter of fiscal year 2024.We perform a recoverability test when events or changes in circumstances, or indicators, suggest that the carrying amount or net book value of an aircraft or other flight equipment may not be recoverable. For assets with indicators of