Air Lease (AL) 10-Q 3 Nov 22 2022 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2022	Nov. 02, 2022
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
Document Transition Report	false
Entity File Number	001-35121
Entity Registrant Name	AIR LEASE CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	27-1840403
Entity Address, Address Line One	2000 Avenue of the Stars,
Entity Address, Address Line Two	Suite 1000N
Entity Address, City or Town	Los Angeles,
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	90067
City Area Code	310
Local Phone Number	553-0555
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		110,892,097
Entity Central Index Key	0001487712
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Class A Common Stock
Entity Information [Line Items]
Title of 12(b) Security	Class A Common Stock
Trading Symbol	AL
Security Exchange Name	NYSE
6.150% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series A
Entity Information [Line Items]
Title of 12(b) Security	6.150% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series A
Trading Symbol	AL PRA
Security Exchange Name	NYSE

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Assets
Cash and cash equivalents	$ 1,101,844	$ 1,086,500
Restricted cash	15,124	21,792
Flight equipment subject to operating leases	28,656,269	27,101,808
Less accumulated depreciation	(4,727,410)	(4,202,804)
Flight equipment subject to operating leases, net	23,928,859	22,899,004
Deposits on flight equipment purchases	1,493,041	1,508,892
Other assets	1,685,103	1,452,534
Total assets	28,223,971	26,968,722
Liabilities and Shareholders’ Equity
Accrued interest and other payables	604,327	611,757
Debt financing, net of discounts and issuance costs	18,769,057	17,022,480
Security deposits and maintenance reserves on flight equipment leases	1,235,704	1,173,831
Rentals received in advance	149,923	138,816
Deferred tax liability	936,526	1,013,270
Total liabilities	21,695,537	19,960,154
Shareholders’ Equity
Preferred Stock, $0.01 par value; 50,000,000 shares authorized; 10,600,000 (aggregate liquidation preference of $850,000) shares issued and outstanding at September 30, 2022 and December 31, 2021, respectively	106	106
Paid-in capital	3,250,169	3,399,245
Retained earnings	3,274,113	3,609,885
Accumulated other comprehensive loss	2,937	(1,808)
Total shareholders’ equity	6,528,434	7,008,568
Total liabilities and shareholders’ equity	28,223,971	26,968,722
Class A Common Stock
Shareholders’ Equity
Common stock	1,109	1,140
Class B Non‑Voting Common Stock
Shareholders’ Equity
Common stock	$ 0	$ 0

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Preferred stock, issued (in shares)	10,600,000
Preferred stock, outstanding (in shares)	10,600,000
Preferred stock, aggregate liquidation preference	$ 850,000
Flight Equipment, Accumulated Depreciation	$ (4,727,410)	$ (4,202,804)
Noncumulative Preferred Stock
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, authorized (in shares)	50,000,000	50,000,000
Preferred stock, issued (in shares)	10,600,000	10,600,000
Preferred stock, outstanding (in shares)	10,600,000	10,600,000
Preferred stock, aggregate liquidation preference	$ 850,000	$ 850,000
Class A Common Stock
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	500,000,000	500,000,000
Common stock, issued (in shares)	110,892,097	113,987,154
Common stock, outstanding (in shares)	110,892,097	113,987,154
Class B Non‑Voting Common Stock
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	10,000,000	10,000,000
Common stock, issued (in shares)	0	0
Common stock, outstanding (in shares)	0	0

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS AND OTHER COMPREHENSIVE INCOME/(LOSS) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenues [Abstract]
Rental of flight equipment	$ 541,397	$ 519,535	$ 1,653,223	$ 1,439,674
Revenue from Contract with Customer, Product and Service [Extensible Enumeration]	Aircraft Sales, Trading And Other [Member]	Aircraft Sales, Trading And Other [Member]	Aircraft Sales, Trading And Other [Member]	Aircraft Sales, Trading And Other [Member]
Aircraft sales, trading and other	$ 19,937	$ 4,974	$ 62,469	$ 51,539
Total revenues	561,334	524,509	1,715,692	1,491,213
Expenses
Interest	122,348	114,659	358,621	346,244
Amortization of debt discounts and issuance costs	13,162	12,571	39,772	37,109
Interest expense	135,510	127,230	398,393	383,353
Depreciation	242,503	224,960	713,095	651,742
Write-off of Russian fleet	0	0	802,352	0
Selling, general and administrative	39,718	31,082	110,993	84,682
Stock-based compensation expense	5,764	6,692	9,799	18,800
Total expenses	423,495	389,964	2,034,632	1,138,577
Income/(loss) before taxes	137,839	134,545	(318,940)	352,636
Income tax (expense)/benefit	(27,458)	(27,208)	76,606	(67,785)
Net income/(loss)	110,381	107,337	(242,334)	284,851
Preferred stock dividends	(10,425)	(7,331)	(31,275)	(19,010)
Net income/(loss) available to common stockholders, basic	99,956	100,006	(273,609)	265,841
Net income/(loss) available to common stockholders, diluted	99,956	100,006	(273,609)	265,841
Other comprehensive income/(loss):
Foreign currency translation adjustment	21,481	7,129	27,811	(943)
Change in fair value of hedged transactions	(17,063)	(7,874)	(21,774)	(1,677)
Total tax (expense)/benefit on other comprehensive income/loss	(946)	159	(1,292)	560
Other comprehensive income/(loss), net of tax	3,472	(586)	4,745	(2,060)
Total comprehensive income/(loss) attributable for common stockholders	$ 103,428	$ 99,420	$ (268,864)	$ 263,781
Earnings/(loss) per share of common stock:
Basic (in dollars per share)	$ 0.90	$ 0.88	$ (2.45)	$ 2.33
Diluted (in dollars per share)	$ 0.90	$ 0.87	$ (2.45)	$ 2.32
Weighted-average shares outstanding
Basic (in shares)	110,892,097	114,122,512	111,874,002	114,071,951
Diluted (in shares)	111,090,133	114,381,621	111,874,002	114,415,169
Dividends declared per share of common stock (in dollars per share)	$ 0.185	$ 0.16	$ 0.555	$ 0.48

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Class A Common Stock	Class B Non‑Voting Common Stock	Preferred Stock	Common Stock Class A Common Stock	Common Stock Class B Non‑Voting Common Stock	Paid‑in Capital	Retained Earnings	Retained Earnings Class A Common Stock	Accumulated Other Comprehensive Income/(Loss)
Beginning balance preferred stock (in share) at Dec. 31, 2020				10,000,000
Beginning balance at Dec. 31, 2020	$ 6,072,341			$ 100	$ 1,139	$ 0	$ 2,793,178	$ 3,277,599		$ 325
Beginning balance common stock (in shares) at Dec. 31, 2020					113,852,896	0
Increase (Decrease) in Shareholders' Equity
Issuance of preferred stock (in shares)				300,000
Issuance of preferred stock	295,449			$ 3			295,446
Issuance of common stock upon exercise of options and vesting of restricted stock units (in shares)					425,232
Issuance of common stock upon vesting of restricted stock units	1,441				$ 4		1,437
Stock-based compensation expense	5,408						5,408
Cash dividends		$ (18,259)							$ (18,259)
Preferred dividends	(3,844)							(3,844)
Change in foreign currency translation adjustment and in fair value of hedged transactions, net of tax	(1,247)									(1,247)
Tax withholdings on stock-based compensation (in shares)					(157,266)
Tax withholdings on stock-based compensation	(7,169)				$ (2)		(7,167)
Net income (loss)	84,092							84,092
Ending balance preferred stock (in share) at Mar. 31, 2021				10,300,000
Ending balance common stock (in shares) at Mar. 31, 2021					114,120,862	0
Ending balance at Mar. 31, 2021	6,428,212			$ 103	$ 1,141	$ 0	3,088,302	3,339,588		(922)
Beginning balance preferred stock (in share) at Dec. 31, 2020				10,000,000
Beginning balance at Dec. 31, 2020	6,072,341			$ 100	$ 1,139	$ 0	2,793,178	3,277,599		325
Beginning balance common stock (in shares) at Dec. 31, 2020					113,852,896	0
Increase (Decrease) in Shareholders' Equity
Change in foreign currency translation adjustment and in fair value of hedged transactions, net of tax	(2,060)
Net income (loss)	284,851
Ending balance preferred stock (in share) at Sep. 30, 2021				10,300,000
Ending balance common stock (in shares) at Sep. 30, 2021					113,987,154	0
Ending balance at Sep. 30, 2021	6,583,783			$ 103	$ 1,140	$ 0	3,095,620	3,488,655		(1,735)
Beginning balance preferred stock (in share) at Mar. 31, 2021				10,300,000
Beginning balance at Mar. 31, 2021	6,428,212			$ 103	$ 1,141	$ 0	3,088,302	3,339,588		(922)
Beginning balance common stock (in shares) at Mar. 31, 2021					114,120,862	0
Increase (Decrease) in Shareholders' Equity
Issuance of preferred stock (in shares)				0
Issuance of preferred stock	(19)			$ 0			(19)
Issuance of common stock upon exercise of options and vesting of restricted stock units (in shares)					25,956
Stock-based compensation expense	6,700						6,700
Cash dividends		(18,263)							(18,263)
Preferred dividends	(7,835)							(7,835)
Change in foreign currency translation adjustment and in fair value of hedged transactions, net of tax	(227)									(227)
Tax withholdings on stock-based compensation (in shares)					(5,715)
Tax withholdings on stock-based compensation	(275)						(275)
Net income (loss)	93,422							93,422
Ending balance preferred stock (in share) at Jun. 30, 2021				10,300,000
Ending balance common stock (in shares) at Jun. 30, 2021					114,141,103	0
Ending balance at Jun. 30, 2021	6,501,715			$ 103	$ 1,141	$ 0	3,094,708	3,406,912		(1,149)
Increase (Decrease) in Shareholders' Equity
Common stock repurchased (in shares)					(153,949)
Common stock repurchased	(5,781)				$ (1)		(5,780)
Stock-based compensation expense	6,692						6,692
Cash dividends		$ (18,263)							(18,263)
Preferred dividends	(7,331)							(7,331)
Change in foreign currency translation adjustment and in fair value of hedged transactions, net of tax	(586)									(586)
Net income (loss)	107,337							107,337
Ending balance preferred stock (in share) at Sep. 30, 2021				10,300,000
Ending balance common stock (in shares) at Sep. 30, 2021					113,987,154	0
Ending balance at Sep. 30, 2021	6,583,783			$ 103	$ 1,140	$ 0	3,095,620	3,488,655		(1,735)
Beginning balance preferred stock (in share) at Dec. 31, 2021				10,600,000
Beginning balance at Dec. 31, 2021	7,008,568			$ 106	$ 1,140	$ 0	3,399,245	3,609,885		(1,808)
Beginning balance common stock (in shares) at Dec. 31, 2021		113,987,154	0		113,987,154	0
Increase (Decrease) in Shareholders' Equity
Issuance of common stock upon exercise of options and vesting of restricted stock units (in shares)					477,656
Issuance of common stock upon vesting of restricted stock units	2				$ 5		(3)
Common stock repurchased (in shares)					(2,959,458)
Common stock repurchased	(129,549)				$ (30)		(129,519)
Stock-based compensation expense	(2,523)						(2,523)
Cash dividends		$ (21,136)							(21,136)
Preferred dividends	(10,425)							(10,425)
Change in foreign currency translation adjustment and in fair value of hedged transactions, net of tax	1,738									1,738
Tax withholdings on stock-based compensation (in shares)					(188,093)
Tax withholdings on stock-based compensation	(8,097)				$ (2)		(8,095)
Net income (loss)	(468,993)							(468,993)
Ending balance preferred stock (in share) at Mar. 31, 2022				10,600,000
Ending balance common stock (in shares) at Mar. 31, 2022					111,317,259	0
Ending balance at Mar. 31, 2022	6,369,585			$ 106	$ 1,113	$ 0	3,259,105	3,109,331		(70)
Beginning balance preferred stock (in share) at Dec. 31, 2021				10,600,000
Beginning balance at Dec. 31, 2021	7,008,568			$ 106	$ 1,140	$ 0	3,399,245	3,609,885		(1,808)
Beginning balance common stock (in shares) at Dec. 31, 2021		113,987,154	0		113,987,154	0
Increase (Decrease) in Shareholders' Equity
Common stock repurchased (in shares)		(3,420,874)
Change in foreign currency translation adjustment and in fair value of hedged transactions, net of tax	4,745
Net income (loss)	$ (242,334)
Ending balance preferred stock (in share) at Sep. 30, 2022	10,600,000			10,600,000
Ending balance common stock (in shares) at Sep. 30, 2022		110,892,097	0		110,892,097	0
Ending balance at Sep. 30, 2022	$ 6,528,434			$ 106	$ 1,109	$ 0	3,250,169	3,274,113		2,937
Beginning balance preferred stock (in share) at Mar. 31, 2022				10,600,000
Beginning balance at Mar. 31, 2022	6,369,585			$ 106	$ 1,113	$ 0	3,259,105	3,109,331		(70)
Beginning balance common stock (in shares) at Mar. 31, 2022					111,317,259	0
Increase (Decrease) in Shareholders' Equity
Issuance of common stock upon exercise of options and vesting of restricted stock units (in shares)					59,603
Common stock repurchased (in shares)					(461,416)
Common stock repurchased	(20,454)				$ (4)		(20,450)
Stock-based compensation expense	6,558						6,558
Cash dividends		$ (20,511)							(20,511)
Preferred dividends	(10,425)							(10,425)
Change in foreign currency translation adjustment and in fair value of hedged transactions, net of tax	(465)									(465)
Tax withholdings on stock-based compensation (in shares)					(23,349)
Tax withholdings on stock-based compensation	(931)						(931)
Net income (loss)	116,277							116,277
Ending balance preferred stock (in share) at Jun. 30, 2022				10,600,000
Ending balance common stock (in shares) at Jun. 30, 2022					110,892,097	0
Ending balance at Jun. 30, 2022	6,439,634			$ 106	$ 1,109	$ 0	3,244,282	3,194,672		(535)
Increase (Decrease) in Shareholders' Equity
Stock-based compensation expense	5,764						5,764
Cash dividends		$ (20,515)							$ (20,515)
Preferred dividends	(10,425)							(10,425)
Change in foreign currency translation adjustment and in fair value of hedged transactions, net of tax	3,472									3,472
Tax withholdings on stock-based compensation	123						123
Net income (loss)	$ 110,381							110,381
Ending balance preferred stock (in share) at Sep. 30, 2022	10,600,000			10,600,000
Ending balance common stock (in shares) at Sep. 30, 2022		110,892,097	0		110,892,097	0
Ending balance at Sep. 30, 2022	$ 6,528,434			$ 106	$ 1,109	$ 0	$ 3,250,169	$ 3,274,113		$ 2,937

CONSOLIDATED STATEMENTS OF ST_2

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended						9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement of Stockholders' Equity [Abstract]
Dividends declared per share of common stock (in dollars per share)	$ 0.185	$ 0.185	$ 0.185	$ 0.16	$ 0.16	$ 0.16	$ 0.555	$ 0.48

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net (loss)/income	$ (242,334)	$ 284,851
Adjustments to reconcile net (loss)/income to net cash provided by operating activities:
Depreciation	713,095	651,742
Write-off of Russian fleet	802,352	0
Stock-based compensation expense	9,799	18,800
Deferred taxes	(78,035)	64,931
Amortization of debt discounts and issuance costs	39,772	37,109
Amortization of prepaid lease costs	34,734	33,603
Gain on aircraft sales, trading and other activity	(85,616)	(1,184)
Changes in operating assets and liabilities:
Other assets	(243,109)	(148,982)
Accrued interest and other payables	(8,354)	(7,283)
Rentals received in advance	16,259	(4,199)
Net cash provided by operating activities	958,563	929,388
Investing Activities
Acquisition of flight equipment under operating lease	(2,166,317)	(1,670,203)
Payments for deposits on flight equipment purchases	(428,424)	(303,856)
Proceeds from aircraft sales, trading and other activity	42,043	2,042
Acquisition of aircraft furnishings, equipment and other assets	(162,897)	(178,359)
Net cash used in investing activities	(2,715,595)	(2,150,376)
Financing Activities
Issuance of common stock upon exercise of options	0	1,438
Cash dividends paid on Class A common stock	(62,738)	(54,737)
Common shares repurchased	(150,000)	(5,780)
Net proceeds from preferred stock issuance	0	295,428
Cash dividends paid on preferred stock	(31,275)	(19,010)
Tax withholdings on stock-based compensation	(8,903)	(7,441)
Net change in unsecured revolving facilities	1,570,000	0
Proceeds from debt financings	1,497,615	3,655,830
Payments in reduction of debt financings	(1,327,146)	(2,585,652)
Debt issuance costs	(5,855)	(9,688)
Security deposits and maintenance reserve receipts	308,637	112,155
Security deposits and maintenance reserve disbursements	(24,627)	(25,654)
Net cash provided by financing activities	1,765,708	1,356,889
Net decrease in cash	8,676	135,901
Cash, cash equivalents and restricted cash at beginning of period	1,108,292	1,757,767
Cash, cash equivalents and restricted cash at end of period	1,116,968	1,893,668
Supplemental Disclosure of Cash Flow Information
Cash paid during the period for interest, including capitalized interest of $29,335 and $38,265 at September 30, 2022 and 2021, respectively	442,461	428,349
Cash paid for income taxes	5,808	2,739
Supplemental Disclosure of Noncash Activities
Buyer furnished equipment, capitalized interest and deposits on flight equipment purchases applied to acquisition of flight equipment	596,021	663,072
Cash dividends declared on common stock, not yet paid	$ 20,515	$ 18,263

CONSOLIDATED STATEMENTS OF CA_2

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Supplemental Disclosure of Cash Flow Information
Cash paid for interest, capitalized interest	$ 29,335	$ 38,265

Company Background and Overview

Company Background and Overview	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Company Background and Overview	Company Background and OverviewAir Lease Corporation (the “Company”, “ALC”, “we”, “our” or “us”) is a leading aircraft leasing company that was founded by aircraft leasing industry pioneer, Steven F. Udvar-Házy. The Company is principally engaged in purchasing the most modern, fuel-efficient, new technology commercial jet aircraft directly from aircraft manufacturers, such as The Boeing Company (“Boeing”) and Airbus S.A.S. (“Airbus”). The Company leases these aircraft to airlines throughout the world with the intention to generate attractive returns on equity. As of September 30, 2022, the Company owned 405 aircraft, managed 87 aircraft and had 412 aircraft on order with aircraft manufacturers. In addition to its leasing activities, the Company sells aircraft from its fleet to third parties, including other leasing companies, financial services companies, airlines and other investors. The Company also provides fleet management services to investors and owners of aircraft portfolios for a management fee.

Basis of Preparation and Critic

Basis of Preparation and Critical Accounting Policies	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Preparation and Critical Accounting Policies	Basis of Preparation and Critical Accounting Policies The Company consolidates financial statements of all entities in which the Company has a controlling financial interest, including the accounts of any Variable Interest Entity in which the Company has a controlling financial interest and for which it is the primary beneficiary. All material intercompany balances are eliminated in consolidation. The accompanying Consolidated Financial Statements have been prepared in accordance with Generally Accepted Accounting Principles in the United States of America (“GAAP”) for interim financial information and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. The accompanying unaudited Consolidated Financial Statements include all adjustments, consisting only of normal, recurring adjustments, which are in the opinion of management necessary to present fairly the Company’s financial position, results of operations and cash flows at September 30, 2022, and for all periods presented. The results of operations for the three and nine months ended September 30, 2022 are not necessarily indicative of the operating results expected for the year ending December 31, 2022. These financial statements and related notes should be read in conjunction with the Consolidated Financial Statements and related notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021.

Debt Financing

Debt Financing	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Debt Financing	Debt Financing The Company’s consolidated debt as of September 30, 2022 and December 31, 2021 is summarized below: September 30, 2022 December 31, 2021 (in thousands) Unsecured Senior notes $ 17,064,248 $ 16,892,058 Term financings 186,775 167,000 Revolving credit facility 1,570,000 — Total unsecured debt financing 18,821,023 17,059,058 Secured Term financings 116,981 126,660 Export credit financing 13,309 18,301 Total secured debt financing 130,290 144,961 Total debt financing 18,951,313 17,204,019 Less: Debt discounts and issuance costs (182,256) (181,539) Debt financing, net of discounts and issuance costs $ 18,769,057 $ 17,022,480 Senior unsecured notes (including Medium-Term Note Program) As of September 30, 2022, the Company had $17.1 billion in senior unsecured notes outstanding. As of December 31, 2021, the Company had $16.9 billion in senior unsecured notes outstanding. During the nine months ended September 30, 2022, the Company issued $1.5 billion in aggregate principal amount of senior unsecured notes comprised of (i) $750.0 million in aggregate principal amount of 2.20% Medium-Term Notes due 2027, and (ii) $750.0 million in aggregate principal amount of 2.875% Medium-Term Notes due 2032. Unsecured revolving credit facility As of September 30, 2022, the Company had $1.6 billion outstanding under its unsecured revolving credit facility (the “Revolving Credit Facility”). As of December 31, 2021, the Company did not have any amounts outstanding under its Revolving Credit Facility. Borrowings under the Revolving Credit Facility are used to finance the Company’s working capital needs in the ordinary course of business and for other general corporate purposes. In April 2022, the Company amended and extended its Revolving Credit Facility through an amendment that, among other things, extended the final maturity date from May 5, 2025 to May 5, 2026, increased the total revolving commitments to approximately $7.0 billion as of May 5, 2022 and replaced LIBOR with Term SOFR as the benchmark interest rate and made certain conforming changes related thereto. As of September 30, 2022, borrowings under the Revolving Credit Facility accrued interest at Adjusted Term SOFR (as defined in the Revolving Credit Facility) plus a margin of 1.05% per year. The Company is required to pay a facility fee of 0.20% per year in respect of total commitments under the Revolving Credit Facility. Interest rate and facility fees are subject to increases or decreases based on declines or improvements in the credit ratings for the Company’s debt. In June 2022, the Company increased the aggregate facility capacity by an additional $122.5 million and also extended the maturity of $125.0 million in commitments to May 5, 2026. As of November 3, 2022, the Company had total revolving commitments of approximately $7.1 billion. Lenders held revolving commitments totaling approximately $6.7 billion that mature on May 5, 2026, commitments totaling $32.5 million that mature on May 5, 2025 and commitments totaling $375.0 million that mature on May 5, 2023. Other debt financings From time to time, the Company enters into other debt financings such as unsecured term financings and secured term financings, including export credit. As of September 30, 2022, the outstanding balance on other debt financings was $317.1 million and the Company had pledged three aircraft as collateral with a net book value of $214.6 million. As of December 31, 2021, the outstanding balance on other debt financings was $312.0 million and the Company had pledged three aircraft as collateral with a net book value of $222.2 million. Maturities Maturities of debt outstanding as of September 30, 2022 are as follows: (in thousands) Years ending December 31, 2022 $ 683,152 2023 2,621,611 2024 2,863,800 2025 2,409,553 2026 4,953,021 Thereafter 5,420,176 Total $ 18,951,313

Flight equipment subject to ope

Flight equipment subject to operating lease	9 Months Ended
	Sep. 30, 2022
Property, Plant and Equipment [Abstract]
Flight equipment subject to operating lease	Flight equipment subject to operating lease The following table summarizes the activities for the Company’s flight equipment subject to operating lease for the nine months ended September 30, 2022: (in thousands) Net book value as of December 31, 2021 $ 22,899,004 Purchase of aircraft 2,784,350 Depreciation (713,095) Sale of aircraft and transfers to net investments in sales-type leases (250,383) Write-off of Russian fleet (791,017) Net book value as of September 30, 2022 $ 23,928,859 Accumulated depreciation as of September 30, 2022 $ (4,727,410) Write-off of Russian fleet In response to the sanctions against certain industry sectors and parties in Russia, in March 2022, the Company terminated all of its leasing activities in Russia. While the Company maintains title to the aircraft, the Company determined that it is unlikely it will regain possession of the aircraft detained in Russia. As such, during the three months ended March 31, 2022, the Company recognized a loss from asset write-offs of its interests in owned aircraft detained in Russia, totaling approximately $791.0 million. In October 2022, one Boeing 737-8 MAX aircraft that was detained in Russia was returned to the Company. The returned 737-8 MAX was not operating and had been in storage in Russia since the 737 MAX grounding. In the fourth quarter of 2022, the Company will record the aircraft in its owned fleet at fair value with a corresponding offset to the write-off line item in the income statement. At this time, the Company does not anticipate the return of any other aircraft detained in Russia. As of November 3, 2022, 20 aircraft previously included in the Company’s owned fleet are still detained in Russia. The operators of these aircraft have continued to fly most of the aircraft notwithstanding the termination of leasing activities and the Company’s ongoing demands for the return of its assets. In June 2022, the Company submitted insurance claims to its insurers to recover its losses relating to the aircraft detained in Russia and is vigorously pursuing all available insurance claims. Collection, timing and amounts of any insurance recoveries remains uncertain at this time.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Aircraft Acquisition As of September 30, 2022, the Company had commitments to purchase 412 aircraft from Boeing and Airbus for delivery through 2028, with an estimated aggregate commitment of $26.2 billion. The table is subject to change based on Airbus and Boeing delivery delays. As noted below, the Company expects delivery delays for some aircraft in its orderbook. The Company remains in discussions with Boeing and Airbus to determine the extent and duration of delivery delays; however, the Company is not yet able to determine the full impact of these delays. Estimated Delivery Years Aircraft Type 2022 2023 2024 2025 2026 Thereafter Total Airbus A220-100/300 4 13 25 20 12 — 74 Airbus A320/321neo (1) 14 22 24 24 35 64 183 Airbus A330-900neo 3 6 4 — — — 13 Airbus A350-900/1000 1 3 3 — — — 7 Airbus A350F — — — — 2 5 7 Boeing 737-8/9 MAX 11 29 33 19 16 — 108 Boeing 787-9/10 1 5 4 10 — — 20 Total (2) 34 78 93 73 65 69 412 (1) The Company’s Airbus A320/321neo aircraft orders include 26 long-range variants and 49 extra long-range variants. (2) The table above reflects Airbus and Boeing aircraft delivery delays based on contractual documentation. Pursuant to the Company’s purchase agreements with Boeing and Airbus, the Company agrees to contractual delivery dates for each aircraft ordered. These dates can change for a variety of reasons, however for the last several years, manufacturing delays have significantly impacted the planned purchases of the Company’s aircraft on order with Boeing and Airbus. The Company is currently experiencing delivery delays with both Boeing and Airbus aircraft. The aircraft purchase commitments discussed above could also be impacted by cancellations. The Company’s purchase agreements with Boeing and Airbus generally provide each of the Company and the manufacturers with cancellation rights for delivery delays starting at one year after the original contractual delivery date, regardless of cause. In addition, the Company’s lease agreements generally provide each of the Company and the lessee with cancellation rights related to certain aircraft delivery delays that typically parallel the cancellation rights in the Company’s purchase agreements. Commitments for the acquisition of these aircraft, calculated at an estimated aggregate purchase price (including adjustments for anticipated inflation) of approximately $26.2 billion as of September 30, 2022, are as follows: Years ending December 31, 2022 $ 2,230,839 2023 5,385,941 2024 5,877,320 2025 4,606,225 2026 3,683,009 Thereafter 4,419,134 Total $ 26,202,468 The Company has made non-refundable deposits on flight equipment purchases of $1.5 billion as of September 30, 2022 and December 31, 2021, which are subject to manufacturer performance commitments. If the Company is unable to satisfy its purchase commitments, the Company may be forced to forfeit its deposits and may also be exposed to breach of contract claims by its lessees as well as the manufacturers.

Rental Income

Rental Income	9 Months Ended
	Sep. 30, 2022
Leases [Abstract]
Rental Income	Rental IncomeAs of September 30, 2022, minimum future rentals on non-cancellable operating leases of flight equipment in the Company’s owned fleet, which have been delivered as of September 30, 2022 are as follows: Years ending December 31, 2022 (excluding the nine months ended September 30, 2022) $ 552,722 2023 2,169,168 2024 2,050,201 2025 1,905,764 2026 1,704,843 Thereafter 6,713,920 Total $ 15,096,618

Earnings_(Loss) Per Share

Earnings/(Loss) Per Share	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Earnings/(Loss) Per Share	Earnings/(Loss) Per Share Basic earnings/(loss) per share is computed by dividing net income/(loss) by the weighted-average number of common shares outstanding for the period. Diluted earnings per share reflects the potential dilution that would occur if securities or other contracts to issue common stock were exercised or converted into common stock; however, potential common equivalent shares are excluded if the effect of including these shares would be anti-dilutive. The Company’s two classes of common stock, Class A and Class B non-voting, have equal rights to dividends and income, and therefore, basic and diluted earnings per share are the same for each class of common stock. As of September 30, 2022, the Company did not have any Class B non-voting common stock outstanding. Diluted earnings per share takes into account the potential conversion of stock options, restricted stock units, and warrants using the treasury stock method and convertible notes using the if-converted method. Since the Company was in a loss position for the nine months ended September 30, 2022, diluted net loss per share is the same as basic net loss per share for the period as the inclusion of all potential common shares outstanding would have been anti-dilutive. For the nine months ended September 30, 2022, the Company excluded 329,947 potentially dilutive securities, whose effect would have been anti-dilutive, from the computation of diluted earnings per share. For the three months ended September 30, 2022, the Company did not exclude any potentially dilutive securities, whose effect would have been anti-dilutive, from the computation of diluted earnings per share. For the three and nine months ended September 30, 2021, the Company did not exclude any potentially dilutive securities, whose effect would have been anti-dilutive, from the computation of diluted earnings per share. The Company excluded 976,509 and 1,083,635 shares related to restricted stock units for which the performance metric had yet to be achieved as of September 30, 2022 and 2021, respectively. The following table sets forth the reconciliation of basic and diluted earnings/(loss) per share: Three Months Ended Nine Months Ended 2022 2021 2022 2021 (in thousands, except share and per share) Basic earnings/(loss) per share: Numerator Net income/(loss) $ 110,381 $ 107,337 $ (242,334) $ 284,851 Preferred stock dividends (10,425) (7,331) (31,275) (19,010) Net income/(loss) attributable to common stockholders $ 99,956 $ 100,006 $ (273,609) $ 265,841 Denominator Weighted-average shares outstanding 110,892,097 114,122,512 111,874,002 114,071,951 Basic earnings/(loss) per share $ 0.90 $ 0.88 $ (2.45) $ 2.33 Diluted earnings/(loss) per share: Numerator Net income/(loss) $ 110,381 $ 107,337 $ (242,334) $ 284,851 Preferred stock dividends (10,425) (7,331) (31,275) (19,010) Net income/(loss) attributable to common stockholders $ 99,956 $ 100,006 $ (273,609) $ 265,841 Denominator Number of shares used in basic computation 110,892,097 114,122,512 111,874,002 114,071,951 Weighted-average effect of dilutive securities 198,036 259,109 — 343,218 Number of shares used in per share computation 111,090,133 114,381,621 111,874,002 114,415,169 Diluted earnings/(loss) per share $ 0.90 $ 0.87 $ (2.45) $ 2.32

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Assets and Liabilities Measured at Fair Value on a Recurring and Non-recurring Basis The Company has a cross-currency swap related to its Canadian dollar Medium-Term Notes which were issued in December 2019. The fair value of the swap as a foreign currency exchange derivative is categorized as a Level 2 measurement in the fair value hierarchy and is measured on a recurring basis. As of September 30, 2022, the estimated fair value of the foreign currency exchange derivative liability was $7.6 million. As of December 31, 2021, the estimated fair value of the foreign currency exchange derivative asset was $14.1 million. Financial Instruments Not Measured at Fair Values The fair value of debt financing is estimated based on the quoted market prices for the same or similar issues, or on the current rates offered to the Company for debt of the same remaining maturities, which would be categorized as a Level 2 measurement in the fair value hierarchy. The estimated fair value of debt financing as of September 30, 2022, was $17.2 billion compared to a book value of $19.0 billion. The estimated fair value of debt financing as of December 31, 2021 was $17.6 billion compared to a book value of $17.2 billion. The following financial instruments are not measured at fair value on the Company’s Consolidated Balance Sheets at September 30, 2022, but require disclosure of their fair values: cash and cash equivalents and restricted cash. The estimated fair value of such instruments at September 30, 2022 and December 31, 2021 approximates their carrying value as reported on the Consolidated Balance Sheets. The fair value of all these instruments would be categorized as Level 1 in the fair value hierarchy.

Shareholders' Equity

Shareholders' Equity	9 Months Ended
	Sep. 30, 2022
Equity [Abstract]
Shareholders' Equity	Shareholders’ Equity The Company was authorized to issue 500,000,000 shares of Class A common stock, $0.01 par value, at September 30, 2022 and December 31, 2021. As of September 30, 2022 and December 31, 2021, the Company had 110,892,097 and 113,987,154 Class A common shares issued and outstanding, respectively. The Company was authorized to issue 10,000,000 shares of Class B common stock, $0.01 par value at September 30, 2022 and December 31, 2021. The Company did not have any shares of Class B non-voting common stock, $0.01 par value, issued or outstanding as of September 30, 2022 or December 31, 2021. During the nine months ended September 30, 2022, the Company repurchased 3,420,874 shares of its Class A common stock under its previously announced stock repurchase program at an average purchase price of $43.85 per share. Such repurchases completed the repurchase of the entire $150.0 million of outstanding shares authorized under the Company’s stock repurchase program. The Company completed the share repurchase program in April 2022. The Company was authorized to issue 50,000,000 shares of preferred stock, $0.01 par value, at September 30, 2022 and December 31, 2021. As of September 30, 2022 and December 31, 2021, the Company had 10.0 million shares of 6.15% Fixed-to-Floating Non-Cumulative Perpetual Preferred Stock, Series A (the “Series A Preferred Stock”), $0.01 par value, issued and outstanding with an aggregate liquidation preference of $250.0 million ($25.00 per share), 300,000 shares of 4.65% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series B (the “Series B Preferred Stock”), $0.01 par value, issued and outstanding with an aggregate liquidation preference of $300.0 million ($1,000 per share) and 300,000 shares of 4.125% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series C (the “Series C Preferred Stock”), $0.01 par value, issued and outstanding with an aggregate liquidation preference of $300.0 million ($1,000 per share). The following table summarizes the Company’s preferred stock issued and outstanding as of September 30, 2022 (in thousands, except for share amounts and percentages): Shares Issued and Outstanding as of September 30, 2022 Carrying Value Issue Date Dividend Rate in Effect at September 30, 2022 Next dividend rate reset date Dividend rate after reset date Series A 10,000,000 $ 250,000 March 5, 2019 6.150 % March 15, 2024 3M LIBOR plus 3.65% Series B 300,000 300,000 March 2, 2021 4.650 % June 15, 2026 5 Yr U.S. Treasury plus 4.076% Series C 300,000 300,000 October 13, 2021 4.125 % December 15, 2026 5 Yr U.S. Treasury plus 3.149% Total 10,600,000 $ 850,000

Stock-based Compensation

Stock-based Compensation	9 Months Ended
	Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]
Stock-based Compensation	Stock-based Compensation On May 7, 2014, the stockholders of the Company approved the Air Lease Corporation 2014 Equity Incentive Plan (the “2014 Plan”). Upon approval of the 2014 Plan, no new awards may be granted under the Amended and Restated 2010 Equity Incentive Plan (the “2010 Plan”). As of September 30, 2022, the number of stock options (“Stock Options”) and restricted stock units (“RSUs”) authorized under the 2014 Plan is approximately 4,220,763. The Company has issued RSUs with four different vesting criteria: those RSUs that vest based on the attainment of book-value goals, those RSUs that vest based on the attainment of Total Shareholder Return (“TSR”) goals, time based RSUs that vest ratably over a time period of three years and RSUs that cliff vest at the end of a one As of September 30, 2022, the Company had no outstanding Stock Options and no unrecognized compensation costs related to outstanding Stock Options. For the three and nine months ended September 30, 2022 and 2021, there were no stock-based compensation expenses related to Stock Options. The Company recorded $5.8 million and $6.7 million of stock-based compensation expense related to RSUs for the three months ended September 30, 2022 and 2021, respectively. The Company recorded $9.8 million and $18.8 million of stock-based compensation expense related to RSUs for the nine months ended September 30, 2022 and 2021, respectively. The decrease in stock-based compensation relates to reductions in the underlying vesting estimates of certain book value RSUs as the performance criteria are no longer considered probable of being achieved. Restricted Stock Units Compensation cost for RSUs is measured at the grant date based on fair value and recognized over the vesting period. The fair value of book value and time based RSUs is determined based on the closing market price of the Company’s Class A common stock on the date of grant, while the fair value of RSUs that vest based on the attainment of Total Shareholder Return (“TSR”) goals is determined at the grant date using a Monte Carlo simulation model. Included in the Monte Carlo simulation model were certain assumptions regarding a number of highly complex and subjective variables, such as expected volatility, risk-free interest rate and expected dividends. To appropriately value the award, the risk-free interest rate is estimated for the time period from the valuation date until the vesting date and the historical volatilities were estimated based on a historical timeframe equal to the time from the valuation date until the end date of the performance period. During the nine months ended September 30, 2022, the Company granted 652,016 RSUs of which 110,237 are TSR RSUs and 220,437 are book value RSUs. The following table summarizes the activities for the Company’s unvested RSUs for the nine months ended September 30, 2022: Unvested Restricted Stock Units Number of Weighted-Average Unvested at December 31, 2021 1,571,415 $ 43.88 Granted 652,016 $ 47.24 Vested (542,060) $ 42.50 Forfeited/canceled (166,233) $ 40.47 Unvested at September 30, 2022 1,515,138 $ 45.90 Expected to vest after September 30, 2022 1,314,519 $ 46.53 As of September 30, 2022, there was $34.4 million of unrecognized compensation expense related to unvested stock-based payments granted to employees. Total unrecognized compensation expense will be recognized over a weighted-average remaining period of 1.90 years.

Aircraft Under Management

Aircraft Under Management	9 Months Ended
	Sep. 30, 2022
Equity Method Investments and Joint Ventures [Abstract]
Aircraft Under Management	Aircraft Under Management As of September 30, 2022, the Company managed 87 aircraft across three aircraft management platforms. The Company managed 47 aircraft through its Thunderbolt platform, 35 aircraft through the Blackbird investment funds and five on behalf of a financial institution. As of September 30, 2022, the Company managed 35 aircraft on behalf of third-party investors through two investment funds, Blackbird I and Blackbird II. These funds invest in commercial jet aircraft and lease them to airlines throughout the world. The Company provides management services to these funds for a fee. As of September 30, 2022, the Company's non-controlling interests in each fund were 9.5% and are accounted for under the equity method of accounting. The Company’s investments in these funds aggregated $64.1 million and $73.2 million as of September 30, 2022 and December 31, 2021, respectively, and are included in Other assets on the Consolidated Balance Sheets. Additionally, the Company continues to manage aircraft that it sells through its Thunderbolt platform. The Thunderbolt platform facilitates the sale of mid-life aircraft to investors while allowing the Company to continue the management of these aircraft for a fee. As of September 30, 2022, the Company managed 47 aircraft across three separate transactions. The Company has non-controlling interests in two of these entities of approximately 5.0%, which are accounted for under the cost method of accounting. The Company’s total investment in aircraft sold through its Thunderbolt platform was $8.8 million and $9.3 million as of September 30, 2022 and December 31, 2021, respectively and is included in Other assets on the Consolidated Balance Sheets.

Net Investment in Sales-type Le

Net Investment in Sales-type Leases	9 Months Ended
	Sep. 30, 2022
Leases [Abstract]
Net Investment in Sales-type Leases	Net Investment in Sales-type Leases As of September 30, 2022, the Company had nine A320-200 aircraft on lease to an airline with terms that meet the criteria of being classified as a sales-type lease. Net investment in sales-type leases was included in Other assets in the Company’s Consolidated Balance Sheets based on the present value of fixed payments under the contract and the residual value of the underlying asset, discounted at the rate implicit in the lease. The Company’s investment in sales-type leases consisted of the following (in thousands): September 30, 2022 Future minimum lease payments to be received $ 217,300 Estimated residual values of leased flight equipment 82,520 Less: Unearned income (43,263) Net Investment in Sales-type Leases $ 256,557 As of September 30, 2022, future minimum lease payments to be received on sales-type leases were as follows: (in thousands) Years ending December 31, 2022 (excluding the nine months ended September 30, 2022) $ 5,125 2023 22,140 2024 22,140 2025 22,140 2026 22,140 Thereafter 123,615 Total $ 217,300

Flight Equipment Held for Sale

Flight Equipment Held for Sale	9 Months Ended
	Sep. 30, 2022
Discontinued Operations and Disposal Groups [Abstract]
Flight Equipment Held for Sale	Flight Equipment Held for SaleAs of September 30, 2022, the Company had four aircraft, with a carrying value of $146.3 million, which were held for sale and included in Flight equipment subject to operating leases on the Consolidated Balance Sheets. During the three months ended September 30, 2022, the Company completed the sale of one aircraft from its held for sale portfolio. The Company expects the sale of all four aircraft to be completed by the end of the first quarter of 2023. The Company ceases recognition of depreciation expense once an aircraft is classified as held for sale. As of December 31, 2021, the Company did not have any flight equipment classified as held for sale.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2022
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events In October 2022, one Boeing 737-8 MAX aircraft that was detained in Russia was returned to the Company. See Note 4 “Flight equipment subject to operating lease” for more information. On November 2, 2022, the Company’s board of directors approved quarterly dividends for the Company’s Class A common stock and Series A, B and C Preferred Stock. The following table summarizes the details of the dividends that were declared: Title of each class Cash dividend per share Record Date Payment Date Class A Common Stock $ 0.20 December 16, 2022 January 10, 2023 Series A Preferred Stock $ 0.384375 November 30, 2022 December 15, 2022 Series B Preferred Stock $ 11.625 November 30, 2022 December 15, 2022 Series C Preferred Stock $ 10.3125 November 30, 2022 December 15, 2022

Basis of Preparation and Crit_2

Basis of Preparation and Critical Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Consolidation	The Company consolidates financial statements of all entities in which the Company has a controlling financial interest, including the accounts of any Variable Interest Entity in which the Company has a controlling financial interest and for which it is the primary beneficiary. All material intercompany balances are eliminated in consolidation.
Basis of Accounting	The accompanying Consolidated Financial Statements have been prepared in accordance with Generally Accepted Accounting Principles in the United States of America (“GAAP”) for interim financial information and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements.

Debt Financing (Tables)

Debt Financing (Tables)	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Schedule of Consolidated Debt	The Company’s consolidated debt as of September 30, 2022 and December 31, 2021 is summarized below: September 30, 2022 December 31, 2021 (in thousands) Unsecured Senior notes $ 17,064,248 $ 16,892,058 Term financings 186,775 167,000 Revolving credit facility 1,570,000 — Total unsecured debt financing 18,821,023 17,059,058 Secured Term financings 116,981 126,660 Export credit financing 13,309 18,301 Total secured debt financing 130,290 144,961 Total debt financing 18,951,313 17,204,019 Less: Debt discounts and issuance costs (182,256) (181,539) Debt financing, net of discounts and issuance costs $ 18,769,057 $ 17,022,480
Schedule of Maturities of Debt Outstanding	Maturities of debt outstanding as of September 30, 2022 are as follows: (in thousands) Years ending December 31, 2022 $ 683,152 2023 2,621,611 2024 2,863,800 2025 2,409,553 2026 4,953,021 Thereafter 5,420,176 Total $ 18,951,313

Flight equipment subject to o_2

Flight equipment subject to operating lease (Tables)	9 Months Ended
	Sep. 30, 2022
Property, Plant and Equipment [Abstract]
Schedule of Flight Equipment Subject to Operating Lease	The following table summarizes the activities for the Company’s flight equipment subject to operating lease for the nine months ended September 30, 2022: (in thousands) Net book value as of December 31, 2021 $ 22,899,004 Purchase of aircraft 2,784,350 Depreciation (713,095) Sale of aircraft and transfers to net investments in sales-type leases (250,383) Write-off of Russian fleet (791,017) Net book value as of September 30, 2022 $ 23,928,859 Accumulated depreciation as of September 30, 2022 $ (4,727,410)

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Schedule of Contractual Commitments to Acquire Aircraft	Estimated Delivery Years Aircraft Type 2022 2023 2024 2025 2026 Thereafter Total Airbus A220-100/300 4 13 25 20 12 — 74 Airbus A320/321neo (1) 14 22 24 24 35 64 183 Airbus A330-900neo 3 6 4 — — — 13 Airbus A350-900/1000 1 3 3 — — — 7 Airbus A350F — — — — 2 5 7 Boeing 737-8/9 MAX 11 29 33 19 16 — 108 Boeing 787-9/10 1 5 4 10 — — 20 Total (2) 34 78 93 73 65 69 412 (1) The Company’s Airbus A320/321neo aircraft orders include 26 long-range variants and 49 extra long-range variants. (2) The table above reflects Airbus and Boeing aircraft delivery delays based on contractual documentation.
Schedule of Contractual Commitments for The Acquisition of Aircraft at an Estimated Aggregate Purchase Price	Commitments for the acquisition of these aircraft, calculated at an estimated aggregate purchase price (including adjustments for anticipated inflation) of approximately $26.2 billion as of September 30, 2022, are as follows: Years ending December 31, 2022 $ 2,230,839 2023 5,385,941 2024 5,877,320 2025 4,606,225 2026 3,683,009 Thereafter 4,419,134 Total $ 26,202,468

Rental Income (Tables)

Rental Income (Tables)	9 Months Ended
	Sep. 30, 2022
Leases [Abstract]
Schedule of Minimum Future Rentals	As of September 30, 2022, minimum future rentals on non-cancellable operating leases of flight equipment in the Company’s owned fleet, which have been delivered as of September 30, 2022 are as follows: Years ending December 31, 2022 (excluding the nine months ended September 30, 2022) $ 552,722 2023 2,169,168 2024 2,050,201 2025 1,905,764 2026 1,704,843 Thereafter 6,713,920 Total $ 15,096,618

Earnings_(Loss) Per Share (Tabl

Earnings/(Loss) Per Share (Tables)	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Schedule of Reconciliation of Basic and Diluted Earnings/Loss Per Share	The following table sets forth the reconciliation of basic and diluted earnings/(loss) per share: Three Months Ended Nine Months Ended 2022 2021 2022 2021 (in thousands, except share and per share) Basic earnings/(loss) per share: Numerator Net income/(loss) $ 110,381 $ 107,337 $ (242,334) $ 284,851 Preferred stock dividends (10,425) (7,331) (31,275) (19,010) Net income/(loss) attributable to common stockholders $ 99,956 $ 100,006 $ (273,609) $ 265,841 Denominator Weighted-average shares outstanding 110,892,097 114,122,512 111,874,002 114,071,951 Basic earnings/(loss) per share $ 0.90 $ 0.88 $ (2.45) $ 2.33 Diluted earnings/(loss) per share: Numerator Net income/(loss) $ 110,381 $ 107,337 $ (242,334) $ 284,851 Preferred stock dividends (10,425) (7,331) (31,275) (19,010) Net income/(loss) attributable to common stockholders $ 99,956 $ 100,006 $ (273,609) $ 265,841 Denominator Number of shares used in basic computation 110,892,097 114,122,512 111,874,002 114,071,951 Weighted-average effect of dilutive securities 198,036 259,109 — 343,218 Number of shares used in per share computation 111,090,133 114,381,621 111,874,002 114,415,169 Diluted earnings/(loss) per share $ 0.90 $ 0.87 $ (2.45) $ 2.32

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2022
Equity [Abstract]
Schedule of Preferred Stock Issued and Outstanding	The following table summarizes the Company’s preferred stock issued and outstanding as of September 30, 2022 (in thousands, except for share amounts and percentages): Shares Issued and Outstanding as of September 30, 2022 Carrying Value Issue Date Dividend Rate in Effect at September 30, 2022 Next dividend rate reset date Dividend rate after reset date Series A 10,000,000 $ 250,000 March 5, 2019 6.150 % March 15, 2024 3M LIBOR plus 3.65% Series B 300,000 300,000 March 2, 2021 4.650 % June 15, 2026 5 Yr U.S. Treasury plus 4.076% Series C 300,000 300,000 October 13, 2021 4.125 % December 15, 2026 5 Yr U.S. Treasury plus 3.149% Total 10,600,000 $ 850,000

Stock-based Compensation (Table

Stock-based Compensation (Tables)	9 Months Ended
	Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]
Schedule of Activities for Unvested RSUs	The following table summarizes the activities for the Company’s unvested RSUs for the nine months ended September 30, 2022: Unvested Restricted Stock Units Number of Weighted-Average Unvested at December 31, 2021 1,571,415 $ 43.88 Granted 652,016 $ 47.24 Vested (542,060) $ 42.50 Forfeited/canceled (166,233) $ 40.47 Unvested at September 30, 2022 1,515,138 $ 45.90 Expected to vest after September 30, 2022 1,314,519 $ 46.53

Net Investment in Sales-type _2

Net Investment in Sales-type Leases (Tables)	9 Months Ended
	Sep. 30, 2022
Leases [Abstract]
Schedule of Components of Investment in Sales-Type Leases, Net	The Company’s investment in sales-type leases consisted of the following (in thousands): September 30, 2022 Future minimum lease payments to be received $ 217,300 Estimated residual values of leased flight equipment 82,520 Less: Unearned income (43,263) Net Investment in Sales-type Leases $ 256,557
Schedule of Future Minimum Lease Payments to be Received on Sales-Type Lease	As of September 30, 2022, future minimum lease payments to be received on sales-type leases were as follows: (in thousands) Years ending December 31, 2022 (excluding the nine months ended September 30, 2022) $ 5,125 2023 22,140 2024 22,140 2025 22,140 2026 22,140 Thereafter 123,615 Total $ 217,300

Subsequent Events (Tables)

Subsequent Events (Tables)	9 Months Ended
	Sep. 30, 2022
Subsequent Events [Abstract]
Schedule of Dividends Declared	The following table summarizes the details of the dividends that were declared: Title of each class Cash dividend per share Record Date Payment Date Class A Common Stock $ 0.20 December 16, 2022 January 10, 2023 Series A Preferred Stock $ 0.384375 November 30, 2022 December 15, 2022 Series B Preferred Stock $ 11.625 November 30, 2022 December 15, 2022 Series C Preferred Stock $ 10.3125 November 30, 2022 December 15, 2022

Company Background and Overvi_2

Company Background and Overview (Details)	9 Months Ended
	Sep. 30, 2022 aircraft
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of aircraft owned	405
Number of aircraft managed	87
Number of aircraft on order with manufacturers	412

Debt Financing - Consolidated D

Debt Financing - Consolidated Debt (Details) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Total debt financing	$ 18,951,313,000	$ 17,204,019,000
Less: Debt discounts and issuance costs	(182,256,000)	(181,539,000)
Debt financing, net of discounts and issuance costs	18,769,057,000	17,022,480,000
Total unsecured debt financing
Debt Instrument [Line Items]
Total debt financing	18,821,023,000	17,059,058,000
Senior notes
Debt Instrument [Line Items]
Total debt financing	17,064,248,000	16,892,058,000
Term financings
Debt Instrument [Line Items]
Total debt financing	186,775,000	167,000,000
Revolving credit facility
Debt Instrument [Line Items]
Total debt financing	1,570,000,000	0
Total secured debt financing
Debt Instrument [Line Items]
Total debt financing	130,290,000	144,961,000
Term financings
Debt Instrument [Line Items]
Total debt financing	116,981,000	126,660,000
Export credit financing
Debt Instrument [Line Items]
Total debt financing	$ 13,309,000	$ 18,301,000

Debt Financing - Narrative (Det

Debt Financing - Narrative (Details)	9 Months Ended
	Sep. 30, 2022 USD ($) aircraft	Nov. 03, 2022 USD ($)	Jun. 30, 2022 USD ($)	May 05, 2022 USD ($)	Dec. 31, 2021 USD ($) aircraft
Debt Instrument [Line Items]
Outstanding balance	$ 18,951,313,000				$ 17,204,019,000
Subsequent Event
Debt Instrument [Line Items]
Line of credit maturity amount		$ 7,100,000,000
Senior notes
Debt Instrument [Line Items]
Outstanding balance	17,064,248,000				16,892,058,000
Medium Term Note Program | Senior notes
Debt Instrument [Line Items]
Principal amount issued	1,500,000,000
Medium Term Note Program Due 2027 | Senior notes
Debt Instrument [Line Items]
Principal amount issued	$ 750,000,000
Interest rate	2.20%
Medium Term Note Program Due 2032 | Senior notes
Debt Instrument [Line Items]
Principal amount issued	$ 750,000,000
Interest rate	2.875%
Revolving credit facility
Debt Instrument [Line Items]
Outstanding balance	$ 1,570,000,000				0
Maximum borrowing capacity				$ 7,000,000,000
Facility fee	0.20%
Increase in borrowing capacity			$ 122,500,000
Commitments with extended maturity			$ 125,000,000
Revolving credit facility | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Interest margin	1.05%
Unsecured Revolving Credit Facility Mature May 5, 2026 | Debt Instrument, Redemption, Period One | Subsequent Event
Debt Instrument [Line Items]
Line of credit maturity amount		6,700,000,000
Unsecured Revolving Credit Facility Mature May 5, 2025 | Debt Instrument, Redemption, Period Two | Subsequent Event
Debt Instrument [Line Items]
Line of credit maturity amount		32,500,000
Unsecured Revolving Credit Facility Mature May 5, 2023 | Debt Instrument, Redemption, Period Three | Subsequent Event
Debt Instrument [Line Items]
Line of credit maturity amount		$ 375,000,000
Other Debt Financings
Debt Instrument [Line Items]
Outstanding balance	$ 317,100,000				$ 312,000,000
Number of aircraft pledged as collateral | aircraft	3				3
Net book value of aircraft pledged as collateral	$ 214,600,000				$ 222,200,000

Debt Financing - Maturities of

Debt Financing - Maturities of Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Debt Disclosure [Abstract]
2022	$ 683,152
2023	2,621,611
2024	2,863,800
2025	2,409,553
2026	4,953,021
Thereafter	5,420,176
Total	$ 18,951,313	$ 17,204,019

Flight equipment subject to o_3

Flight equipment subject to operating lease- Schedule of Flight Equipment Subject to Operating Lease (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Movement in Property, Plant and Equipment [Roll Forward]
Depreciation	$ (242,503)		$ (224,960)	$ (713,095)	$ (651,742)
Flight Equipment
Movement in Property, Plant and Equipment [Roll Forward]
Net book value, beginning balance		$ 22,899,004		22,899,004
Purchase of aircraft				2,784,350
Depreciation				(713,095)
Sale of aircraft and transfers to net investments in sales-type leases				(250,383)
Write-off of Russian fleet		$ (791,000)		(791,017)
Net book value, ending balance	23,928,859			23,928,859
Accumulated depreciation as of September 30, 2022	$ (4,727,410)			$ (4,727,410)

Flight equipment subject to o_4

Flight equipment subject to operating lease - Narrative (Details) $ in Thousands	3 Months Ended	9 Months Ended
	Mar. 31, 2022 USD ($)	Sep. 30, 2022 USD ($)	Nov. 03, 2022 aircraft	Oct. 31, 2022 aircraft
Subsequent Event
Property, Plant, and Equipment, Lessor Asset under Operating Lease [Line Items]
Aircrafts returned from Russia				1
Number of aircraft under operating lease terminated remaining in Russia			20
Flight Equipment
Property, Plant, and Equipment, Lessor Asset under Operating Lease [Line Items]
Write-off of Russian fleet | $	$ 791,000	$ 791,017

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2022 USD ($) aircraft	Dec. 31, 2021 USD ($)
Long-term Purchase Commitment [Line Items]
Number of aircraft on order with manufacturers | aircraft	412
Purchase obligation	$ 26,202,468
Minimum aircraft delivery delays that could trigger lessee cancellation clauses	1 year
Purchase agreements, termination commencement period	1 year
Non-refundable deposits on aircraft	$ 1,493,041	$ 1,508,892
Aircrafts
Long-term Purchase Commitment [Line Items]
Non-refundable deposits on aircraft	$ 1,500,000	$ 1,500,000

Commitments and Contingencies_2

Commitments and Contingencies - Aircraft Acquisition (Details)	9 Months Ended
	Sep. 30, 2022 aircraft
Aircrafts
Long-term Purchase Commitment [Line Items]
2022	34
2023	78
2024	93
2025	73
2026	65
Thereafter	69
Total	412
Airbus A220-100/300
Long-term Purchase Commitment [Line Items]
2022	4
2023	13
2024	25
2025	20
2026	12
Thereafter	0
Total	74
Airbus A320/321neo
Long-term Purchase Commitment [Line Items]
2022	14
2023	22
2024	24
2025	24
2026	35
Thereafter	64
Total	183
Number of long-range variant aircraft	26
Number of extra long-range variant aircrafts	49
Airbus A330-900neo
Long-term Purchase Commitment [Line Items]
2022	3
2023	6
2024	4
2025	0
2026	0
Thereafter	0
Total	13
Airbus A350-900/1000
Long-term Purchase Commitment [Line Items]
2022	1
2023	3
2024	3
2025	0
2026	0
Thereafter	0
Total	7
Airbus A350F
Long-term Purchase Commitment [Line Items]
2022	0
2023	0
2024	0
2025	0
2026	2
Thereafter	5
Total	7
Boeing 737-8/9 MAX
Long-term Purchase Commitment [Line Items]
2022	11
2023	29
2024	33
2025	19
2026	16
Thereafter	0
Total	108
Boeing 787-9/10
Long-term Purchase Commitment [Line Items]
2022	1
2023	5
2024	4
2025	10
2026	0
Thereafter	0
Total	20

Commitments and Contingencies_3

Commitments and Contingencies -Aircraft Acquisition at Aggregate Purchase Price (Details) $ in Thousands	Sep. 30, 2022 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2022	$ 2,230,839
2023	5,385,941
2024	5,877,320
2025	4,606,225
2026	3,683,009
Thereafter	4,419,134
Total	$ 26,202,468

Rental Income (Details)

Rental Income (Details) $ in Thousands	Sep. 30, 2022 USD ($)
Leases [Abstract]
2022 (excluding the nine months ended September 30, 2022)	$ 552,722
2023	2,169,168
2024	2,050,201
2025	1,905,764
2026	1,704,843
Thereafter	6,713,920
Total	$ 15,096,618

Earnings_(Loss) Per Share - Nar

Earnings/(Loss) Per Share - Narrative (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2022 shares	Sep. 30, 2021 shares	Sep. 30, 2022 class_of_stock shares	Sep. 30, 2021 shares	Dec. 31, 2021 shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Number of classes of common stock | class_of_stock			2
Common Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Number of shares excluded related to restricted stock units	0	0	329,947	0
Restricted Stock Units (RSUs)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Number of shares excluded related to restricted stock units			976,509	1,083,635
Class B Non‑Voting Common Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Common stock, outstanding (in shares)	0		0		0

Earnings_(Loss) Per Share - Rec

Earnings/(Loss) Per Share - Reconciliation of Basic and Diluted Earnings/Loss per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2022	Sep. 30, 2021
Numerator
Net (loss)/income	$ 110,381	$ 116,277	$ (468,993)	$ 107,337	$ 93,422	$ 84,092	$ (242,334)	$ 284,851
Preferred stock dividends	(10,425)			(7,331)			(31,275)	(19,010)
Net income/(loss) available to common stockholders, basic	$ 99,956			$ 100,006			$ (273,609)	$ 265,841
Weighted Average Number of Shares Outstanding, Basic [Abstract]
Weighted-average shares outstanding (in shares)	110,892,097			114,122,512			111,874,002	114,071,951
Basic earnings/(loss) per share (in dollars per share)	$ 0.90			$ 0.88			$ (2.45)	$ 2.33
Numerator
Net (loss)/income	$ 110,381	$ 116,277	$ (468,993)	$ 107,337	$ 93,422	$ 84,092	$ (242,334)	$ 284,851
Preferred stock dividends	(10,425)			(7,331)			(31,275)	(19,010)
Net income/(loss) available to common stockholders, diluted	$ 99,956			$ 100,006			$ (273,609)	$ 265,841
Incremental Weighted Average Shares Attributable to Dilutive Effect [Abstract]
Basic (in shares)	110,892,097			114,122,512			111,874,002	114,071,951
Weighted-average effect of dilutive securities (in shares)	198,036			259,109			0	343,218
Number of shares used in per share computation	111,090,133			114,381,621			111,874,002	114,415,169
Diluted earnings/(loss) per share (in dollars per share)	$ 0.90			$ 0.87			$ (2.45)	$ 2.32

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Reported Value Measurement
Fair Value Measurements
Debt financing	$ 19,000	$ 17,200
Level 2
Fair Value Measurements
Debt financing	17,200	17,600
Recurring basis | Foreign Exchange Contract | Level 2
Fair Value Measurements
Derivative liability	$ 7.6
Derivative asset, fair value		$ 14.1

Shareholders' Equity - Narrativ

Shareholders' Equity - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	9 Months Ended	10 Months Ended	12 Months Ended
	Dec. 31, 2021	Sep. 30, 2022	Dec. 31, 2021	Dec. 31, 2021	Apr. 30, 2022
Class of Stock [Line Items]
Stock repurchase program, authorized amount					$ 150,000
Preferred stock, issued (in shares)		10,600,000
Preferred stock, outstanding (in shares)		10,600,000
Preferred stock, aggregate liquidation preference		$ 850,000
Class A Common Stock
Class of Stock [Line Items]
Common stock, authorized (in shares)	500,000,000	500,000,000	500,000,000	500,000,000
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01	$ 0.01	$ 0.01
Common stock, issued (in shares)	113,987,154	110,892,097	113,987,154	113,987,154
Common stock, outstanding (in shares)	113,987,154	110,892,097	113,987,154	113,987,154
Number of shares repurchased		3,420,874
Shares repurchased, average cost (in dollars per share)		$ 43.85
Class B Non‑Voting Common Stock
Class of Stock [Line Items]
Common stock, authorized (in shares)	10,000,000	10,000,000	10,000,000	10,000,000
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01	$ 0.01	$ 0.01
Common stock, issued (in shares)	0	0	0	0
Common stock, outstanding (in shares)	0	0	0	0
Series A Preferred Stock
Class of Stock [Line Items]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01	$ 0.01	$ 0.01
Preferred stock, issued (in shares)	10,000,000	10,000,000	10,000,000	10,000,000
Preferred stock, outstanding (in shares)	10,000,000	10,000,000	10,000,000	10,000,000
Preferred stock, dividend rate		6.15%		6.15%
Preferred stock, aggregate liquidation preference	$ 250,000	$ 250,000	$ 250,000	$ 250,000
Preferred stock, liquidation preference (in dollars per share)	$ 25	$ 25	$ 25	$ 25
Series B Preferred Stock
Class of Stock [Line Items]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01	$ 0.01	$ 0.01
Preferred stock, issued (in shares)	300,000	300,000	300,000	300,000
Preferred stock, outstanding (in shares)	300,000	300,000	300,000	300,000
Preferred stock, dividend rate		4.65%	4.65%
Preferred stock, aggregate liquidation preference	$ 300,000	$ 300,000	$ 300,000	$ 300,000
Preferred stock, liquidation preference (in dollars per share)	$ 1,000	$ 1,000	$ 1,000	$ 1,000
Series C Preferred Stock
Class of Stock [Line Items]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01	$ 0.01	$ 0.01
Preferred stock, issued (in shares)	300,000	300,000	300,000	300,000
Preferred stock, outstanding (in shares)	300,000	300,000	300,000	300,000
Preferred stock, dividend rate	4.125%	4.125%
Preferred stock, aggregate liquidation preference	$ 300,000	$ 300,000	$ 300,000	$ 300,000
Preferred stock, liquidation preference (in dollars per share)	$ 1,000	$ 1,000	$ 1,000	$ 1,000

Shareholders' Equity - Preferre

Shareholders' Equity - Preferred Stock Issued and Outstanding (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	10 Months Ended	12 Months Ended
	Dec. 31, 2021	Sep. 30, 2022	Dec. 31, 2021	Dec. 31, 2021
Class of Stock [Line Items]
Preferred stock, issued (in shares)		10,600,000
Preferred stock, outstanding (in shares)		10,600,000
Preferred stock, aggregate liquidation preference		$ 850,000
Series A Preferred Stock
Class of Stock [Line Items]
Preferred stock, issued (in shares)	10,000,000	10,000,000	10,000,000	10,000,000
Preferred stock, outstanding (in shares)	10,000,000	10,000,000	10,000,000	10,000,000
Preferred stock, aggregate liquidation preference	$ 250,000	$ 250,000	$ 250,000	$ 250,000
Preferred stock, dividend rate		6.15%		6.15%
Series A Preferred Stock | LIBOR
Class of Stock [Line Items]
Preferred stock, dividend rate, basis spread		3.65%
Series B Preferred Stock
Class of Stock [Line Items]
Preferred stock, issued (in shares)	300,000	300,000	300,000	300,000
Preferred stock, outstanding (in shares)	300,000	300,000	300,000	300,000
Preferred stock, aggregate liquidation preference	$ 300,000	$ 300,000	$ 300,000	$ 300,000
Preferred stock, dividend rate		4.65%	4.65%
Series B Preferred Stock | US Treasury (UST) Interest Rate
Class of Stock [Line Items]
Preferred stock, dividend rate, basis spread		4.076%
Series C Preferred Stock
Class of Stock [Line Items]
Preferred stock, issued (in shares)	300,000	300,000	300,000	300,000
Preferred stock, outstanding (in shares)	300,000	300,000	300,000	300,000
Preferred stock, aggregate liquidation preference	$ 300,000	$ 300,000	$ 300,000	$ 300,000
Preferred stock, dividend rate	4.125%	4.125%
Series C Preferred Stock | US Treasury (UST) Interest Rate
Class of Stock [Line Items]
Preferred stock, dividend rate, basis spread		3.149%

Stock-based Compensation - Narr

Stock-based Compensation - Narrative (Details)		3 Months Ended		9 Months Ended
	May 07, 2014 shares	Sep. 30, 2022 USD ($) shares	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($) criteria shares	Sep. 30, 2021 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding (in shares)		0		0
Unrecognized compensation expense | $		$ 34,400,000		$ 34,400,000
Stock-based compensation expense | $		5,764,000	$ 6,692,000	$ 9,799,000	$ 18,800,000
Weighted-average period of recognition of unrecognized stock-based compensation cost				1 year 10 months 24 days
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of different vesting criteria | criteria				4
Number of shares other than options granted				652,016
Restricted Stock Units (RSUs) | Vesting Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period				3 years
Restricted Stock Units (RSUs) | Vesting Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period				1 year
Restricted Stock Units (RSUs) | Vesting Tranche Three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period				2 years
Restricted Stock With Total Shareholder Return Conditions
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares other than options granted				110,237
Share-based Payment Arrangement, Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense | $		0		$ 0
Stock-based compensation | $		$ 0	$ 0	$ 0	$ 0
Restricted Stock Units (RSUs), Book Value
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares other than options granted				220,437
Equity Incentive Plan 2010
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted	0
Number of shares authorized		4,220,763		4,220,763

Stock-based Compensation - Unve

Stock-based Compensation - Unvested Restricted Stock Units Activity (Details) - Restricted Stock Units (RSUs)	9 Months Ended
	Sep. 30, 2022 $ / shares shares
Unvested Restricted Stock Units, Number of Shares
Unvested at the beginning of the period (in shares) | shares	1,571,415
Granted (in shares) | shares	652,016
Vested (in shares) | shares	(542,060)
Forfeited/canceled (in shares) | shares	(166,233)
Unvested at the end of the period (in shares) | shares	1,515,138
Expected to vest after the end of the period (in shares) | shares	1,314,519
Unvested Restricted Stock Units, Weighted-Average Grant-Date Fair Value
Unvested at the beginning of the period (in dollars per share) | $ / shares	$ 43.88
Granted (in dollars per share) | $ / shares	47.24
Vested (in dollars per share) | $ / shares	42.50
Forfeited/canceled (in dollars per share) | $ / shares	40.47
Unvested at the end of the period (in dollars per share) | $ / shares	45.90
Expected to vest after the end of the period (in dollars per share) | $ / shares	$ 46.53

Aircraft Under Management (Deta

Aircraft Under Management (Details)	3 Months Ended				9 Months Ended
	Sep. 30, 2022 USD ($) aircraft entity aircraft_management_platform	Jun. 30, 2022 USD ($)	Mar. 31, 2022 USD ($) aircraft	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($) aircraft entity joint_venture aircraft_management_platform	Sep. 30, 2021 USD ($)	Nov. 03, 2022 aircraft	Dec. 31, 2021 USD ($)
Schedule of Equity Method Investments [Line Items]
Number of aircraft managed	87				87
Number of aircraft management platforms | aircraft_management_platform	3				3
Percentage of non-controlling interest ownership, number of entities | entity					2
Number of managed aircraft terminating lease			8
Asset write offs | $	$ 0			$ 0	$ 802,352,000	$ 0
Number of previously managed aircraft remaining in Russia, removed from managed fleet			6
Investments in Managed Platforms
Schedule of Equity Method Investments [Line Items]
Asset write offs | $	$ 0	$ 0	$ 11,400,000
Subsequent Event
Schedule of Equity Method Investments [Line Items]
Number of managed aircraft terminating lease remaining in Russia							6
Financial Institutions Borrower
Schedule of Equity Method Investments [Line Items]
Number of aircraft					5
Blackbird Capital I and Blackbird Capital II
Schedule of Equity Method Investments [Line Items]
Number of aircraft					35
Number of joint ventures participated | joint_venture					2
Percentage of equity ownership	9.50%				9.50%
Equity method investment | $	$ 64,100,000				$ 64,100,000			$ 73,200,000
Thunderbolt Platform
Schedule of Equity Method Investments [Line Items]
Number of aircraft					47
Investment in aircraft sold | $	$ 8,800,000				$ 8,800,000			$ 9,300,000
Thunderbolt Platform | Aircraft Held For Sale
Schedule of Equity Method Investments [Line Items]
Number of entities which aircraft is managed | entity	3				3
Thunderbolt II And Thunderbolt III
Schedule of Equity Method Investments [Line Items]
Percentage of noncontrolling interest	5%				5%

Net Investment in Sales-type _3

Net Investment in Sales-type Leases - Narrative (Details)	Sep. 30, 2022 aircraft
Leases [Abstract]
Sales-type lease, number of aircrafts	9

Net Investment in Sales-type _4

Net Investment in Sales-type Leases - Components of Investment in Sales-Type Leases, Net (Details) $ in Thousands	Sep. 30, 2022 USD ($)
Leases [Abstract]
Future minimum lease payments to be received	$ 217,300
Estimated residual values of leased flight equipment	82,520
Less: Unearned income	(43,263)
Net Investment in Sales-type Leases	$ 256,557

Net Investment in Sales-type _5

Net Investment in Sales-type Leases - Future Minimum Lease Payments to be Received on Sales-type Lease (Details) $ in Thousands	Sep. 30, 2022 USD ($)
Leases [Abstract]
2022 (excluding the nine months ended September 30, 2022)	$ 5,125
2023	22,140
2024	22,140
2025	22,140
2026	22,140
Thereafter	123,615
Total	$ 217,300

Flight Equipment Held for Sale

Flight Equipment Held for Sale (Details) $ in Millions	Sep. 30, 2022 USD ($) aircraft	Dec. 31, 2021 aircraft
Disposal Group, Held-for-sale, Not Discontinued Operations | Four Aircrafts
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of aircrafts	4
Carrying value of assets held for sale | $	$ 146.3
Disposal Group, Held-for-sale, Not Discontinued Operations | Aircraft
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of aircrafts		0
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Four Aircrafts
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of aircrafts	1

Subsequent Events (Details)

Subsequent Events (Details)		3 Months Ended						9 Months Ended
	Nov. 02, 2022 $ / shares	Sep. 30, 2022 $ / shares	Jun. 30, 2022 $ / shares	Mar. 31, 2022 $ / shares	Sep. 30, 2021 $ / shares	Jun. 30, 2021 $ / shares	Mar. 31, 2021 $ / shares	Sep. 30, 2022 $ / shares	Sep. 30, 2021 $ / shares	Oct. 31, 2022 aircraft
Subsequent Events
Cash dividends declared per share (in dollars per share)		$ 0.185	$ 0.185	$ 0.185	$ 0.16	$ 0.16	$ 0.16	$ 0.555	$ 0.48
Subsequent Event
Subsequent Events
Aircrafts returned from Russia | aircraft										1
Class A Common Stock | Subsequent Event
Subsequent Events
Cash dividends declared per share (in dollars per share)	$ 0.20
Series A Preferred Stock | Subsequent Event
Subsequent Events
Cash dividends declared per share (in dollars per share)	0.384375
Series B Preferred Stock | Subsequent Event
Subsequent Events
Cash dividends declared per share (in dollars per share)	11.625
Series C Preferred Stock | Subsequent Event
Subsequent Events
Cash dividends declared per share (in dollars per share)	$ 10.3125