| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 |
|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||
Net loss | ||||||
207,784 | -15,704 | -23,240 | -40,598 | -28,631 | 2,918 | 25,279 |
Adjustments to reconcile net loss to net cash (used in) provided by operating activities: | ||||||
Equity in (earnings) losses of unconsolidated entities | ||||||
-2,375 | -1,008 | -1,601 | -5,992 | -6,956 | 6,093 | 10,325 |
Gain on sale of subsidiaries | ||||||
198,764 | 0 | 0 | - | - | - | - |
Gain on sale of assets, net | ||||||
81,954 | 3,911 | 18,281 | - | - | - | - |
Loss (gain) on sale of assets, net | ||||||
- | - | - | 5,941 | 3,419 | 7,576 | 2,415 |
Gain on sale of an unconsolidated entity | ||||||
- | - | - | - | - | - | 6,144 |
Security deposits and maintenance claims included in earnings | ||||||
20,385 | 6,323 | 60 | 300 | 439 | 0 | 0 |
Loss on extinguishment of debt | ||||||
0 | 0 | -2,456 | -1,579 | 0 | 0 | - |
Equity-based compensation | ||||||
8,404 | 901 | 1,343 | -3,672 | 4,662 | 1,265 | 0 |
Depreciation and amortization | ||||||
171,225 | 136,354 | 88,110 | 60,210 | 45,308 | 15,998 | 3,909 |
Gain on settlement of liabilities | ||||||
0 | 0 | 1,093 | 0 | 0 | - | - |
Asset impairment | ||||||
4,726 | 0 | 0 | 7,450 | 0 | 0 | - |
Change in current and deferred income taxes | ||||||
14,495 | 649 | 227 | -387 | 61 | 626 | 0 |
Change in fair value of non-hedge derivative | ||||||
-4,555 | 5,523 | 1,022 | -3 | -14 | -25 | 0 |
Amortization of lease intangibles and incentives | ||||||
30,162 | 26,659 | 8,306 | 5,447 | 7,016 | 2,694 | 0 |
Amortization of deferred financing costs | ||||||
8,333 | 5,430 | 4,202 | 2,576 | 1,469 | 576 | 125 |
Operating distributions from unconsolidated entities | ||||||
- | - | - | 30 | 209 | 8,207 | 8,713 |
Bad debt expense | ||||||
3,986 | 1,771 | 701 | 200 | 676 | 281 | 0 |
Other | ||||||
827 | -4 | 732 | 86 | -250 | -32 | 0 |
Change in: | ||||||
Accounts receivable | ||||||
22,622 | 23,340 | 12,001 | 7,980 | 5,940 | 7,212 | 2,609 |
Other assets | ||||||
17,890 | 26,212 | -6,475 | 8,584 | 5,057 | 2,654 | 6,481 |
Accounts payable and accrued liabilities | ||||||
31,543 | 30,471 | 10,266 | 7,726 | 3,180 | -45,900 | 892 |
Management fees payable to affiliate | ||||||
19,080 | 1,820 | 899 | 457 | -1,168 | 2,362 | 875 |
Other liabilities | ||||||
-14,837 | 9,651 | -1,124 | 6,651 | -1,119 | 2,964 | 94 |
Net cash (used in) provided by operating activities | ||||||
151,043 | 133,697 | 68,497 | 30,903 | 23,528 | -31,551 | 11,913 |
Cash flows from investing activities: | ||||||
Change in restricted cash | ||||||
- | - | - | - | 526 | 7,306 | 1,120 |
Construction deposit related to vessel | ||||||
- | - | - | - | - | 7,450 | 0 |
Investment in notes receivable | ||||||
0 | 912 | 0 | 3,066 | 14,869 | 0 | 0 |
Investment in unconsolidated entities | ||||||
13,500 | 1,115 | 30,309 | 28,784 | 0 | 0 | - |
Principal collections on finance leases | ||||||
13,398 | 1,981 | 473 | 2,513 | 20,292 | 11,931 | 8,263 |
Acquisition of leasing equipment | ||||||
568,569 | 497,988 | 425,769 | 200,640 | 165,090 | 387,118 | 88,045 |
Acquisition of property, plant and equipment | ||||||
331,171 | 229,963 | 116,031 | 57,371 | 96,028 | 49,441 | 0 |
Acquisition of lease intangibles | ||||||
-606 | 11,396 | 10,149 | 4,527 | 2,446 | 20,435 | 0 |
Acquisition of remaining interest in JV investment | ||||||
28,828 | 0 | 0 | - | - | - | - |
Acquisition of finance leases | ||||||
- | - | - | - | - | - | 41,808 |
Proceeds from sale of investment in unconsolidated entity | ||||||
- | - | - | - | - | - | 22,000 |
Collection of notes receivable | ||||||
- | - | - | - | - | 4,500 | 0 |
Acquisition of CMQR | ||||||
- | - | - | - | - | 11,308 | 0 |
Acquisition of Jefferson Terminal | ||||||
- | - | - | - | - | 47,811 | 0 |
Acquisition of pre-existing debt relationships | ||||||
- | - | - | - | - | 97,616 | 0 |
Purchase deposits for acquisitions | ||||||
1,000 | 10,150 | 12,299 | 13,681 | 0 | 0 | - |
Proceeds from sale of subsidiaries | ||||||
183,819 | 0 | 0 | 71,000 | 0 | 0 | - |
Proceeds from sale of leasing equipment | ||||||
248,454 | 44,062 | 91,130 | 22,885 | 13,625 | 31,597 | 8,434 |
Proceeds from sale of available-for-sale securities | ||||||
0 | 0 | 30,238 | 0 | 0 | - | - |
Proceeds from sale of property, plant and equipment | ||||||
0 | 23 | 51 | 490 | 893 | 842 | 0 |
Proceeds from sale of equipment held for sale | ||||||
- | - | - | - | 0 | 135 | 0 |
Proceeds from deposit on sale of leasing equipment | ||||||
0 | 240 | 400 | 250 | 500 | 0 | - |
Return of deposit on sale of leasing equipment | ||||||
0 | 400 | 0 | 250 | 0 | 0 | - |
Proceeds from deposit on sale of engine | ||||||
- | - | - | - | - | - | 0 |
Escrow funding for the purchase of aircraft | ||||||
- | - | - | - | - | 1,000 | 0 |
Return of capital distributions from unconsolidated entities | ||||||
1,555 | 2,085 | 0 | 432 | 3,728 | 9,064 | 4,511 |
Net cash used in investing activities | ||||||
-495,236 | -703,533 | -472,265 | -210,749 | -239,921 | -571,416 | -87,765 |
Cash flows from financing activities: | ||||||
Purchase of interest rate cap | ||||||
- | - | - | - | - | - | 43 |
Proceeds from debt | ||||||
788,829 | 750,980 | 567,191 | 152,140 | 200 | 179,569 | 24,774 |
Repayment of debt | ||||||
405,131 | 218,819 | 125,223 | 160,166 | 23,761 | 31,131 | 7,377 |
Payment of deferred financing costs | ||||||
34,218 | 3,055 | 3,377 | 4,246 | 136 | 4,793 | 183 |
Receipt of security deposits | ||||||
7,887 | 9,264 | 7,290 | 3,815 | 2,060 | 2,389 | 3,466 |
Return of security deposits | ||||||
368 | 1,775 | 3,231 | 316 | 960 | 500 | 675 |
Receipt of maintenance deposits | ||||||
65,279 | 53,645 | 27,049 | 14,804 | 10,149 | 3,324 | 817 |
Release of maintenance deposits | ||||||
26,940 | 25,582 | 6,270 | 6,255 | 14,764 | 3,026 | 0 |
Proceeds from issuance of common shares, net of underwriter's discount | ||||||
0 | 148,318 | 0 | 0 | 354,057 | 0 | 0 |
Common shares issuance costs | ||||||
0 | 820 | 0 | 0 | 2,998 | 0 | 0 |
Issuance costs of preferred shares | ||||||
193,992 | 0 | 0 | - | - | - | - |
Capital contributions from shareholders | ||||||
- | - | - | - | 295,879 | 490,747 | 94,819 |
Capital distributions to shareholders | ||||||
- | - | - | - | 44,917 | 75,999 | 39,631 |
Capital contributions from non-controlling interests | ||||||
0 | 0 | 35 | 11,480 | 37,826 | 57,841 | 3,318 |
Capital distributions to non-controlling interests | ||||||
0 | 0 | 254 | 0 | 321 | 565 | 321 |
Settlement of equity-based compensation | ||||||
8,078 | 0 | 74 | 200 | 0 | 0 | - |
Purchase of non-controlling interest shares | ||||||
0 | 3,705 | 0 | 0 | - | - | - |
Purchase of non-controlling interest | ||||||
- | - | - | 1,000 | 0 | 0 | - |
Cash dividends - common shares | ||||||
113,541 | 110,584 | 100,058 | - | - | - | - |
Cash dividends - preferred shares | ||||||
1,838 | 0 | 0 | - | - | - | - |
Cash dividends | ||||||
- | - | - | 100,027 | 36,343 | 0 | - |
Payments of Ordinary Dividends | ||||||
- | - | - | - | - | - | 0 |
Net cash (used in) provided by financing activities | ||||||
465,873 | 597,867 | 363,078 | -89,971 | 575,971 | 617,856 | 78,964 |
Net (decrease) increase in cash and cash equivalents and restricted cash | ||||||
121,680 | 28,031 | -40,690 | -269,817 | 359,578 | 14,889 | 3,112 |
Supplemental disclosure of cash flow information: | ||||||
Cash paid for interest, net of capitalized interest | ||||||
83,164 | 43,636 | 25,068 | 13,150 | 18,566 | 3,627 | 2,700 |
Cash paid for taxes | ||||||
1,072 | 721 | 1,726 | 654 | 507 | 274 | 0 |
Supplemental disclosure of non-cash investing and financing activities: | ||||||
Proceeds from borrowings of debt | ||||||
0 | 511 | 108,339 | 2,860 | 0 | - | - |
Repayment and settlement of debt | ||||||
24,250 | 0 | 102,352 | 0 | 0 | - | - |
Restricted cash proceeds from borrowings of debt | ||||||
- | - | - | - | 0 | 0 | - |
Acquisition of finance leases | ||||||
- | - | - | - | - | - | 894 |
Acquisition of leasing equipment | ||||||
24,530 | 14,263 | 35,332 | 7,724 | 5,408 | 52,556 | 503 |
Acquisition of CMQR | ||||||
- | - | - | - | - | 2,991 | - |
Acquisition of Jefferson | ||||||
- | - | - | - | - | -38,207 | - |
Acquisition of property, plant and equipment | ||||||
47,520 | 17,587 | 37,281 | 12,184 | 203 | 22,454 | 0 |
Investment in Long Ridge JV | ||||||
155,589 | 0 | 0 | - | - | - | - |
Financing of property, plant and equipment | ||||||
- | - | - | 5,321 | 0 | 0 | - |
Settled and assumed security deposits | ||||||
-239 | 3,793 | 3,312 | 758 | 2,388 | 8,317 | 0 |
Settlement of equity based compensation | ||||||
-2,405 | 0 | 0 | - | - | - | - |
Billed, assumed and settled maintenance deposits | ||||||
15,117 | 24,518 | 37,292 | 6,350 | -1,146 | 34,461 | 0 |
Deferred financing costs | ||||||
1,161 | 4,500 | 8,802 | 2,884 | 0 | 0 | - |
Change in fair value of cash flow hedge | ||||||
372 | 0 | 0 | -97 | -117 | -114 | 328 |
Issuance of common shares | ||||||
- | - | - | - | 1,908 | 0 | 0 |
Non-cash contribution of non-controlling interest | ||||||
0 | 0 | 1,261 | 641 | 0 | 38,207 | 0 |
Equity compensation to non-controlling interest | ||||||
0 | 892 | 1,343 | -3,872 | 4,638 | 1,265 | 0 |
Partnership's share of change in fair value of cash flow hedge of equity method investee | ||||||
- | - | - | - | - | - | 77 |
Noncash Transfer of Noncontrolling Interest | ||||||
0 | 7,225 | -2,798 | 0 | 0 | - | - |
Issuance of common shares | ||||||
385 | 301 | 0 | 0 | - | - | - |
Note receivable from sale of unconsolidated entity | ||||||
- | - | - | - | - | - | 4,500 |
Deemed distribution and contribution of capital | ||||||
- | - | - | - | - | - | 2,267 |
Dividends payable | ||||||
- | - | - | - | - | 411 | 0 |
Loan Receivable from Non-Controlling Interest | ||||||
- | - | - | - | - | 3,725 | 0 |