FTAI Aviation (FTAI) 10-Q 3 May 19 2019 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2019	Apr. 30, 2019
Document and Entity Information [Abstract]
Entity Registrant Name	Fortress Transportation & Infrastructure Investors LLC
Entity Central Index Key	0001590364
Document Type	10-Q
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Amendment Flag	false
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		84,671,632
Entity Emerging Growth Company	false
Entity Small Business	false

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Assets [Abstract]
Cash and cash equivalents	$ 120,515	$ 99,601
Restricted cash	108,058	21,236
Accounts receivable, net	50,586	53,789
Leasing equipment, net	1,471,794	1,432,210
Operating lease right-of-use assets, net	44,241	0
Finance leases, net	21,158	18,623
Property, plant, and equipment, net	788,668	708,853
Investments	39,778	40,560
Intangible assets, net	35,604	38,513
Goodwill	116,584	116,584
Other assets	150,714	108,809
Total assets	2,947,700	2,638,778
Liabilities
Accounts payable and accrued liabilities	97,415	112,188
Debt, net	1,540,017	1,237,347
Maintenance deposits	166,749	158,163
Security deposits	38,638	38,539
Operating lease liabilities	44,719	0
Other liabilities	87,108	38,759
Total liabilities	1,974,646	1,584,996
Commitments and contingencies
Equity
Common shares ($0.01 par value per share; 2,000,000,000 shares authorized; 84,477,791 and 84,050,889 shares issued and outstanding as of March 31, 2019 and December 31, 2018, respectively)	845	840
Additional paid in capital	1,001,223	1,029,376
Accumulated deficit	(39,197)	(32,817)
Accumulated other comprehensive loss	(43,012)	0
Shareholders' equity	919,859	997,399
Non-controlling interest in equity of consolidated subsidiaries	53,195	56,383
Total equity	973,054	1,053,782
Total liabilities and equity	$ 2,947,700	$ 2,638,778

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parentheticals) - $ / shares	Mar. 31, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	2,000,000,000	2,000,000,000
Common stock, shares issued (in shares)	84,477,791	84,050,889
Common stock, shares outstanding (in shares)	84,477,791	84,050,889

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Revenues
Revenues	$ 124,627	$ 68,844
Expenses
Operating expenses	61,918	27,579
General and administrative	4,732	3,586
Acquisition and transaction expenses	1,474	1,766
Management fees and incentive allocation to affiliate	3,838	3,739
Depreciation and amortization	39,533	29,587
Interest expense	21,303	11,871
Total expenses	132,798	78,128
Other income (expense)
Equity in (losses) earnings of unconsolidated entities	(384)	95
Gain (loss) on sale of equipment, net	1,725	(5)
Interest income	91	176
Other (expense) income	(2,604)	180
Total other (expense) income	(1,172)	446
Loss before income taxes	(9,343)	(8,838)
Provision for income taxes	453	495
Net loss	(9,796)	(9,333)
Less: Net loss attributable to non-controlling interests in consolidated subsidiaries	(3,416)	(8,761)
Net loss attributable to shareholders	$ (6,380)	$ (572)
Loss per share
Basic (in dollars per share)	$ (0.07)	$ (0.01)
Diluted (in dollars per share)	$ (0.07)	$ (0.01)
Weighted Average Shares Outstanding:
Basic (in shares)	85,986,453	81,534,454
Diluted (in shares)	85,986,453	81,534,454
Equipment leasing revenues
Revenues
Revenues	$ 72,452	$ 55,784
Infrastructure revenues
Revenues
Revenues	52,175	13,060
Other income (expense)
Equity in (losses) earnings of unconsolidated entities	$ (220)	$ 148

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Statement of Comprehensive Income [Abstract]
Net loss	$ (9,796)	$ (9,333)
Change in fair value of cash flow hedge	(43,012)	0
Comprehensive loss	(52,808)	(9,333)
Comprehensive loss attributable to non-controlling interest	(3,416)	(8,761)
Comprehensive loss attributable to shareholders	$ (49,392)	$ (572)

CONSOLIDATED STATEMENT OF CHANG

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY - USD ($) $ in Thousands	Total	Common Shares	Additional Paid In Capital	Accumulated Deficit	Accumulated Other Comprehensive Income	Non-Controlling Interest in Equity of Consolidated Subsidiaries
Beginning balance at Dec. 31, 2017	$ 1,035,075	$ 758	$ 985,009	$ (38,699)	$ 0	$ 88,007
Comprehensive income (loss):
Net loss for the period	(9,333)			(572)		(8,761)
Other comprehensive loss	0				0
Comprehensive loss	(9,333)			(572)	0	(8,761)
Issuance of common shares	127,877	70	127,807
Dividends declared	(27,333)		(27,333)
Equity-based compensation	208		9			199
Ending balance at Mar. 31, 2018	1,126,494	828	1,085,492	(39,271)	0	79,445
Beginning balance at Dec. 31, 2018	1,053,782	840	1,029,376	(32,817)	0	56,383
Comprehensive income (loss):
Net loss for the period	(9,796)			(6,380)		(3,416)
Other comprehensive loss	(43,012)				(43,012)
Comprehensive loss	(52,808)			(6,380)	(43,012)	(3,416)
Issuance of common shares		5	230
Dividends declared	(28,383)		(28,383)
Equity-based compensation	228		0			228
Ending balance at Mar. 31, 2019	$ 973,054	$ 845	$ 1,001,223	$ (39,197)	$ (43,012)	$ 53,195

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2016
Cash flows from operating activities:
Net loss	$ (9,796)	$ (9,333)
Adjustments to reconcile net loss to net cash provided by operating activities:
Equity in losses (earnings) of unconsolidated entities	384	(95)
(Gain) loss on sale of equipment, net	(1,725)	5
Security deposits and maintenance claims included in earnings	(2,953)	(383)
Equity-based compensation	228	208
Depreciation and amortization	39,533	29,587
Change in current and deferred income taxes	338	504
Change in fair value of non-hedge derivative	3,220	(624)
Amortization of lease intangibles and incentives	8,334	7,226
Amortization of deferred financing costs	2,025	1,151
Bad debt expense	2,950	1,441
Other	221	9
Change in:
Accounts receivable	(1,127)	(7,387)
Other assets	(5,295)	1,176
Accounts payable and accrued liabilities	(14,348)	(9,768)
Management fees payable to affiliate	(1,158)	(1,300)
Other liabilities	(561)	(947)
Net cash provided by operating activities	20,270	11,470
Cash flows from investing activities:
Investment in notes receivable	0	(912)
Investment in unconsolidated entities and available for sale securities	0	(1,115)
Principal collections on finance leases	1,289	129
Acquisition of leasing equipment	(108,919)	(86,043)
Acquisition of property, plant and equipment	(81,241)	(23,641)
Acquisition of lease intangibles	(589)	(1,029)
Purchase deposits for acquisitions	(4,625)	(6,886)
Proceeds from sale of leasing equipment	27,292	6,136
Proceeds from sale of property, plant and equipment	7	38
Return of capital distributions from unconsolidated entities	398	0
Return of purchase deposit for aircraft and aircraft engines	0	240
Return of deposit on sale of engine	0	(400)
Net cash used in investing activities	(166,388)	(113,483)
Cash flows from financing activities:
Proceeds from debt	352,680	18,600
Repayment of debt	(47,222)	(12,612)
Payment of deferred financing costs	(28,611)	(71)
Receipt of security deposits	1,935	1,864
Return of security deposits	(233)	(700)
Receipt of maintenance deposits	13,495	9,720
Release of maintenance deposits	(9,807)	(1,840)
Proceeds from issuance of common shares, net of underwriter's discount	0	128,450
Common shares issuance costs	0	(132)
Cash dividends	(28,383)	(27,333)
Net cash provided by financing activities	253,854	115,946
Net increase in cash and cash equivalents and restricted cash	107,736	13,933
Cash and cash equivalents and restricted cash, beginning of period	120,837	92,806
Cash and cash equivalents and restricted cash, end of period	228,573	106,739
Supplemental disclosure of non-cash investing and financing activities:
Proceeds from borrowings of debt	0	511
Acquisition of leasing equipment	(2,128)	(2,938)
Acquisition of property, plant and equipment	(11,210)	(5,849)
Settled and assumed security deposits	(1,604)	500
Billed, assumed and settled maintenance deposits	5,405	(3,517)
Change in fair value of cash flow hedge	(43,012)	0
Issuance of common shares	235	$ 150
Common share issuance costs	$ 0		$ (591)

ORGANIZATION

ORGANIZATION	3 Months Ended
	Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION	ORGANIZATION Fortress Transportation and Infrastructure Investors LLC (the “Company,” “we,” “our” or “us”) is a Delaware limited liability company which, through its subsidiary, Fortress Worldwide Transportation and Infrastructure General Partnership (the “Partnership”), owns and leases aviation equipment and also owns and operates a short line railroad in North America, Central Maine and Québec Railway (“CMQR”), a multi-modal crude oil and refined products terminal in Beaumont, Texas (“Jefferson Terminal”), a deep-water port located along the Delaware River with an underground storage cavern and multiple industrial development opportunities (“Repauno”), and a multi-modal terminal located along the Ohio River with multiple industrial development opportunities, including a power plant under construction (“Long Ridge”). Additionally, we own and lease offshore energy equipment and shipping containers. We have four reportable segments, (i) Aviation Leasing, (ii) Jefferson Terminal, (iii) Railroad, and (iv) Ports and Terminals, which operate in two primary businesses, Equipment Leasing and Infrastructure (Note 16 ).

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Accounting — The accompanying consolidated financial statements are prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) and include the accounts of us and our subsidiaries. Principles of Consolidation — We consolidate all entities in which we have a controlling financial interest and control over significant operating decisions, as well as variable interest entities (“VIEs”) in which we are the primary beneficiary. All significant intercompany transactions and balances have been eliminated. All adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. The ownership interest of other investors in consolidated subsidiaries is recorded as non-controlling interest. We use the equity method of accounting for investments in entities in which we exercise significant influence but which do not meet the requirements for consolidation. Under the equity method, we record our proportionate share of the underlying net income (loss) of these entities. Use of Estimates — The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Risks and Uncertainties — In the normal course of business, we encounter several significant types of economic risk including credit, market, and capital market risks. Credit risk is the risk of the inability or unwillingness of a lessee, customer, or derivative counterparty to make contractually required payments or to fulfill its other contractual obligations. Market risk reflects the risk of a downturn or volatility in the underlying industry segments in which we operate, which could adversely impact the pricing of the services offered by us or a lessee’s or customer’s ability to make payments, increase the risk of unscheduled lease terminations and depress lease rates and the value of our leasing equipment or operating assets. Capital market risk is the risk that we are unable to obtain capital at reasonable rates to fund the growth of our business or to refinance existing debt facilities. We, through our subsidiaries, also conduct operations outside of the United States; such international operations are subject to the same risks as those associated with our United States operations as well as additional risks, including unexpected changes in regulatory requirements, heightened risk of political and economic instability, potentially adverse tax consequences and the burden of complying with foreign laws. We do not have significant exposure to foreign currency risk as all of our leasing arrangements and the majority of terminal services revenue and freight rail revenue are denominated in U.S. dollars. Variable Interest Entities — The assessment of whether an entity is a VIE and the determination of whether to consolidate a VIE requires judgment. VIEs are defined as entities in which equity investors do not have the characteristics of a controlling financial interest or do not have sufficient equity at risk for the entity to finance its activities without additional subordinated financial support from other parties. A VIE is required to be consolidated by its primary beneficiary, and only by its primary beneficiary, which is defined as the party who has the power to direct the activities of a VIE that most significantly impact its economic performance and who has the obligation to absorb losses or the right to receive benefits from the VIE that could potentially be significant to the VIE. JGP Energy Partners LLC During the quarter ended September 30, 2016, we initiated activities in our 50% owned joint venture, JGP Energy Partners LLC (“JGP”). The other 50% member to the joint venture is a third party ethanol producer. The purpose of the venture is to build storage capacity with capabilities to receive and/or distribute ethanol via water, rail or truck. Each member contributed up to $27 million (for a total of $54 million ) for the development and construction of the ethanol terminal facilities. JGP is governed by a designated operating committee selected by the members in proportion to their equity interests. JGP is solely reliant on its members to finance its activities and therefore is a VIE. We concluded that we are not the primary beneficiary of JGP as the members share equally in the risks and rewards and decision making authority of the entity; therefore, we do not consolidate JGP and account for this investment in accordance with the equity method. Refer to Note 6 for details. Delaware River Partners LLC On July 1, 2016, we, through Delaware River Partners LLC (“DRP”), a consolidated subsidiary, purchased the assets of Repauno, which consisted primarily of land, a storage cavern, and riparian rights for the acquired land, site improvements and rights. Upon acquisition there were no operational processes that could be applied to these assets that would result in outputs without significant green field development. We currently hold a 90% economic interest and a 100% voting interest in DRP. DRP is solely reliant on us to finance its activities and therefore is a VIE. We concluded that we were the primary beneficiary; and accordingly, DRP has been presented on a consolidated basis in the accompanying financial statements. Ohio River Partners LLC On June 16, 2017, we, through Ohio River Partners Shareholder LLC (“ORP”), a consolidated subsidiary, purchased the assets of Long Ridge which consisted primarily of land, buildings, railroad track, docks, water rights, site improvements and other rights. We purchased 100% of the interests in these assets. ORP is solely reliant on us to finance its activities and therefore is a VIE. We concluded that we were the primary beneficiary; accordingly, ORP has been presented on a consolidated basis in the accompanying financial statements. Cash and Cash Equivalents — We consider all highly liquid short-term investments with a maturity of 90 days or less when purchased to be cash equivalents. Restricted Cash — Restricted cash consists of prepaid interest and principal pursuant to the requirements of certain of our debt agreements (see Note 8 ), and funds set aside for the power plant construction at Long Ridge (see Note 5) and other qualifying construction projects at Jefferson Terminal. Inventory — Commodities inventory is carried at the lower of cost or net realizable value on our balance sheet. Commodities are removed from inventory based on the average cost at the time of sale. As of March 31, 2019 and December 31, 2018 , we had commodities inventory of $ 11.0 million and $10.4 million , respectively, which is included in Other assets in the Consolidated Balance Sheets. Deferred Financing Costs — Costs incurred in connection with obtaining long term financing are capitalized and amortized to interest expense over the term of the underlying loans. Unamortized deferred financing costs of $17.5 million and $14.5 million as of March 31, 2019 and December 31, 2018 , respectively, are recorded as a component of debt in the Consolidated Balance Sheets. We also have unamortized deferred revolver fees related to our revolving debt of $ 25.6 million and $ 2.4 million as of March 31, 2019 and December 31, 2018 , respectively, which are included in Other assets in the Consolidated Balance Sheets. Amortization expense was $ 2.0 million an d $1.2 million for the three months ended March 31, 2019 and 2018 , respectively, and is included in interest expense in the Consolidated Statements of Operations. Revenue Recognition Equipment Leasing Revenues Operating Leases —We lease equipment pursuant to net operating leases. Operating leases with fixed rentals and step rentals are recognized on a straight-line basis over the term of the lease, assuming no renewals. Revenue is not recognized when collection is not reasonably assured. When collectability is not reasonably assured, the customer is placed on non-accrual status and revenue is recognized when cash payments are received. Generally, under our aircraft lease and engine agreements, the lessee is required to make periodic maintenance payments calculated based on the lessee’s utilization of the leased asset or at the end of the lease. Typically, under our aircraft lease agreements, the lessee is responsible for maintenance, repairs and other operating expenses throughout the term of the lease. These periodic maintenance payments accumulate over the term of the lease to fund major maintenance events, and we are contractually obligated to return maintenance payments to the lessee up to the amount paid by the lessee. In the event the total cost of maintenance events over the term of a lease is less than the cumulative maintenance payments, we are not required to return any unused or excess maintenance payments to the lessee. Maintenance payments received for which we expect to repay to the lessee are presented as Maintenance Deposits in our Consolidated Balance Sheets. All excess maintenance payments received that we do not expect to repay to the lessee are recorded as Maintenance revenues. Finance Leases —From time to time we enter into finance lease arrangements that include a lessee obligation to purchase the leased equipment at the end of the lease term, a bargain purchase option, or provides for minimum lease payments with a present value of 90% or more of the fair value of the leased equipment at the date of lease inception. Net investment in finance lease represents the minimum lease payments due from lessee, net of unearned income. The lease payments are segregated into principal and interest components similar to a loan. Unearned income is recognized on an effective interest method over the lease term and is recorded as finance lease income. The principal component of the lease payment is reflected as a reduction to the net investment in finance leases. Revenue is not recognized when collection is not reasonably assured. When collectability is not reasonably assured, the customer is placed on non-accrual status and revenue is recognized when cash payments are received. Infrastructure Revenues Rail Revenues —Rail revenues generally consist of the following performance obligations: freight movement, demurrage, unloading and switching. Freight movement revenues are recognized proportionally based on distance as freight is transported from origin to destination. Accordingly, freight movement revenue is recognized over time with progress measured based on distance transpired, i.e., as the services are rendered and the customer simultaneously receives and consumes the benefit over time. Demurrage, unloading and switching are recognized in other miscellaneous rail revenues, for which demurrage progress is measured over time, and unloading and switching revenues are measured at a point in time as the service is rendered. Terminal Services Revenues —Terminal services are provided to customers for the receipt and redelivery of various commodities. These revenues are recognized over time, i.e., as the services are rendered and the customer simultaneously receives and consumes the benefit over time. Lease Income —Lease income consists of rental income from tenants for storage space. Lease income is recognized on a straight-line basis over the term s of the relevant lease agreement. Crude Marketing Revenues —Crude marketing revenues consists of marketing revenue related to Canadian crude oil. The revenues are recognized over time, i.e., as the services are rendered and the customer simultaneously receives and consumes the benefit over time. Other Revenue —Other revenue primarily consists of revenue related to the handling, storage and sale of raw materials. Other revenue consists of two performance obligations: handling and storage of raw materials. The revenues are recognized over time, i.e., as the services are rendered and the customer simultaneously receives and consumes the benefit over time. Payment terms for Infrastructure Revenues are generally short term in nature. Leasing Arrangements — At contract inception, we evaluate whether an arrangement is or contains a lease for which we are the lessee (that is, arrangements which provide us with the right to control a physical asset for a period of time). Operating lease right-of-use (“ROU”) assets and lease liabilities are recognized in Operating lease right-of-use assets, net and Operating lease liabilities in our Consolidated Balance Sheets, respectively. Finance lease ROU assets are recognized in Property, plant and equipment, net and lease liabilities are recognized in Other liabilities in our Consolidated Balance Sheets. All lease liabilities are measured at the present value of the unpaid lease payments, discounted using our incremental borrowing rate based on the information available at commencement date of the lease. ROU assets , for both operating and finance leases , are initially measured based on the lease liability, adjusted for prepaid rent and lease incentives. ROU assets are subsequently measured at the carrying amount of the lease liability adjusted for prepaid or accrued lease payments and lease incentives. The finance lease ROU assets are subsequently amortized using the straight-line method. Operating lease expenses are recognized on a straight-line basis over the lease term. With respect to finance leases, amortization of the ROU asset is presented separately from interest expense related to the finance lease liability. Variable lease payments, which are primarily based on usage, are recognized when the associated activity occurs. We have elected to combine lease and non-lease components for all lease contracts where we are the lessee. Additionally, for arrangements with lease terms of 12 months or less, we do not recognize ROU assets, and lease liabilities and lease payments are recognized on a straight-line basis over the lease term with variable lease payments recognized in the period in which the obligation is incurred . Concentration of Credit Risk — We are subject to concentrations of credit risk with respect to amounts due from customers on our finance leases and operating leases. We attempt to limit our credit risk by performing ongoing credit evaluations. During the three months ended March 31, 2019 , one customer in the Jefferson Terminal segment accounted for approximately 22% of total revenue. There were no customers with a revenue concentration over 10% of total revenue during the three months ended March 31, 2018. As of March 31, 2019 , accounts receivable from one customer in the Jefferson Terminal segment represented 13% of total accounts receivable, net. As of December 31, 2018 , accounts receivable from two customers in the Jefferson Terminal segment each represented 17% and 15% of total accounts receivable, net. We maintain cash and restricted cash balances, which generally exceed federally insured limits, and subject us to credit risk, in high credit quality financial institutions. We monitor the financial condition of these institutions and have not experienced any losses associated with these accounts. Provision for Doubtful Accounts — We determine the provision for doubtful accounts based on our assessment of the collectability of our receivables on a customer-by-customer basis. The provision for doubtful accounts at March 31, 2019 and December 31, 2018 was $ 1.2 million and $1.1 million , respectively. Bad debt expense was $ 3.0 million and $1.4 million for the three months ended March 31, 2019 and 2018 , respectively, and is included in operating expenses in the Consolidated Statements of Operations. Comprehensive Income (Loss) — Comprehensive income (loss) is defined as the change in equity of a business enterprise during a period from transactions and other events and circumstances, excluding those resulting from investments by and distributions to owners. Our comprehensive income (loss) represents net income (loss), as presented in the Consolidated Statements of Operations, adjusted for fair value changes related to derivatives accounted for as cash flow hedges. Derivative Financial Instruments Electricity Derivatives— We enter into derivative contracts as part of a risk management program to mitigate price risk associated with certain electricity price exposures. We primarily use swap derivative contracts, which are agreements to buy or sell a quantity of electricity at a predetermined future date and at a predetermined price. Cash Flow Hedges Certain of these derivative instruments are designated and qualify as cash flow hedges. The derivative's gain or loss is reported as a component of Other comprehensive income (loss) and recorded in Accumulated other comprehensive income in our Consolidated Balance Sheets. The gain or loss is subsequently reclassified into the income statement line item that is impacted by the forecasted transaction when the forecasted transaction affects net earnings. Derivatives Not Designated As Hedging Instruments Certain of these derivative instruments are not designated as hedging instruments for accounting purposes. The change in fair value of these contracts is recognized in Other income (expense) in the Consolidated Statements of Operations. The cash flow impact of derivative contracts that are not designated as hedging instruments is recognized in Change in fair value of non-hedge derivatives in our Consolidated Statements of Cash Flows. Commodity Derivatives— We also enter into short-term and long-term crude forward contracts. Gains and losses related to our crude sales and purchase derivatives are recorded on a gross basis and are included in Crude marketing revenues and Operating expenses, respectively, in our Consolidated Statements of Operations. See Note 11 for additional details. The cash flow impact of these derivatives is recognized in Change in fair value of non-hedge derivatives in our Consolidated Statements of Cash Flows. All of our outstanding derivatives are not used for speculative purposes. We record all derivative assets and liabilities on a gross basis at fair value and are included in Other assets and Other liabilities, respectively, in our Consolidated Balance Sheets. Other Assets— Other assets is primarily comprised of commodities inventory of $ 11.0 million and $10.4 million , purchase deposits for acquisitions of $ 7.1 million and $10.2 million , lease incentives of $ 57.7 million and $51.0 million , deferred revolver fees, net of amortization of $ 25.6 million and $ 2.4 million , prepaid expenses of $ 12.9 million and $8.2 million and derivative assets of $ 7.6 million and $ 7.5 million as of March 31, 2019 and December 31, 2018 , respectively. Dividends— Dividends are recorded if and when declared by the Board of Directors. For both the three months ended March 31, 2019 and 2018 , the Board of Directors declared a cash dividend of $0.33 per share. Recent Accounting Pronouncements — In February 2016, the FASB issued Accounting Standards Update (“ASU”) 2016-02, Leases (and subsequently issued ASU 2018-01, ASU 2018-10, ASU 2018-11, ASU 2018-20 and ASU 2019-01, collectively, “ASU 2016-02”). ASU 2016-02 amends the existing accounting standards for lease accounting, including requiring lessees to recognize most leases on their balance sheets and making targeted changes to lessor accounting. On January 1, 2019, we adopted ASU 2016-02 using the modified retrospective approach. We utilized the effective date transition method and accordingly are not required to adjust our comparative period financial information for effects of ASU 2016-02. We have elected to adopt the ‘package of practical expedients’ which permits us not to reassess under the new standard our prior conclusions about lease identification (including land easements), lease classification and initial direct costs. The adoption of ASU 2016-02 resulted in the recognition of ROU assets and lease liabilities of approximately $ 46 million in our Consolidated Balance Sheets as of January 1, 2019. In August 2017, the FASB issued ASU 2017-12, Derivatives and Hedging: Targeted Improvements to Accounting for Hedging Activities , which improves the financial reporting of hedging relationships to better represent the economic results of an entity’s risk management activities in its financial statements and make certain improvements to simplify the application of the hedge accounting guidance. The amendments will make more financial and nonfinancial hedging strategies eligible for hedge accounting, amend the presentation and disclosure requirements and change how entities assess effectiveness. Entities are required to apply the amendments as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period after adoption. On January 1, 2019, we adopted this standard and it did not have an impact on our consolidated financial statements as we did not have any hedging relationships prior to adoption. In June 2018, the FASB, issued ASU 2018-07, Improvements to Nonemployee Share-Based Payment Accounting to simplify the accounting for share-based payments to nonemployees by aligning it with the accounting for share-based payments to employees, with certain exceptions. The new guidance expands the scope of Accounting Standards Codification (“ASC”) 718 to include share-based payments granted to nonemployees in exchange for goods or services used or consumed in an entity’s own operations and supersedes the guidance in ASC 505-50. On January 1, 2019, we adopted this standard and it did not have an impact on our consolidated financial statements. Unadopted Accounting Pronouncements — In January 2017, the FASB issued ASU 2017-04, Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment (“ASU 2017-04”). ASU 2017-04 addresses concerns over the cost and complexity of the two-step goodwill impairment test by removing the second step of the test. An entity will apply a one-step quantitative test and record the amount of goodwill impairment as the excess of a reporting unit's carrying amount over its fair value, not to exceed the total amount of goodwill allocated to the reporting unit. The new guidance does not amend the optional qualitative assessment of goodwill impairment. ASU 2017-01 will be effective for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. We are currently evaluating the impact of adopting this new guidance on our consolidated financial statements. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement . This ASU eliminates, adds and modifies certain disclosure requirements for fair value measurements as part of its disclosure framework project. The guidance is effective for all entities in fiscal years beginning after December 15, 2019, and interim periods within those fiscal years, and early adoption is permitted. We are currently evaluating the impact of adopting this new guidance on our consolidated financial statements.

LEASING EQUIPMENT

LEASING EQUIPMENT	3 Months Ended
	Mar. 31, 2019
Leases [Abstract]
LEASING EQUIPMENT, NET	LEASING EQUIPMENT, NET Leasing equipment, net is summarized as follows: March 31, 2019 December 31, 2018 Leasing equipment $ 1,727,864 $ 1,672,156 Less: accumulated depreciation (256,070 ) (239,946 ) Leasing equipment, net $ 1,471,794 $ 1,432,210 During the three months ended March 31, 2019 , we acquired five aircraft and eight commercial engines, and sold nine commercial engines. Depreciation expense for leasing equipment is summarized as follows: Three Months Ended March 31, 2019 2018 Depreciation expense for leasing equipment $ 31,896 $ 23,691

FINANCE LEASES, NET

FINANCE LEASES, NET	3 Months Ended
	Mar. 31, 2019
Leases [Abstract]
FINANCE LEASES, NET	FINANCE LEASES, NET Finance leases, net are summarized as follows: March 31, 2019 December 31, 2018 Finance leases $ 30,299 $ 28,476 Unearned revenue (9,141 ) (9,853 ) Finance leases, net $ 21,158 $ 18,623 We entered into two one -year sales-type lease agreements for the sale of two of our aircraft during the three months ended March 31, 2019 .

PROPERTY, PLANT AND EQUIPMENT,

PROPERTY, PLANT AND EQUIPMENT, NET	3 Months Ended
	Mar. 31, 2019
Property, Plant and Equipment [Abstract]
PROPERTY, PLANT AND EQUIPMENT, NET	PROPERTY, PLANT AND EQUIPMENT, NET Property, plant and equipment, net is summarized as follows: March 31, 2019 December 31, 2018 Land, site improvements and rights $ 75,046 $ 75,028 Construction in progress (1) 309,366 253,239 Buildings and improvements 14,597 14,514 Terminal machinery and equipment 376,814 349,227 Proved oil and gas properties 22,305 20,099 Track and track related assets 42,358 42,349 Railroad equipment 5,754 5,383 Railcars and locomotives 4,592 4,513 Computer hardware and software 3,806 3,806 Furniture and fixtures 599 572 Vehicles 1,691 1,636 856,928 770,366 Less: accumulated depreciation (69,779 ) (63,032 ) Spare parts 1,519 1,519 Property, plant and equipment, net $ 788,668 $ 708,853 ________________________________________________________ (1) Includes unproved oil and gas properties of $ 60,320 and $ 59,930 as of March 31, 2019 and December 31, 2018 , respectively. During the three months ended March 31, 2019 , we added property, plant and equipment of $ 86.6 million , which primarily consists of terminal machinery and equipment placed in service or under development at Jefferson Terminal and Repauno, and assets under development at Jefferson Terminal and Long Ridge, including a power plant under construction. Depreciation expense for property, plant and equipment is summarized as follows: Three Months Ended March 31, 2019 2018 Depreciation expense for property, plant and equipment $ 6,737 $ 4,996 Construction of Power Plant at Long Ridge Construction Agreements On February 15, 2019, our subsidiary, Long Ridge Energy Generation LLC (“LREG”), entered into an engineering, procurement and construction agreement (the “EPC Agreement”) with Kiewit Power Constructors Co. to construct a 485 megawatt natural gas fired, combined cycle power plant at Long Ridge Energy Terminal. Additionally, on February 15, 2019, LREG entered into an agreement for the purchase of power generation equipment and related services (the “PIE Agreement”) with General Electric Company (“GE”) to acquire equipment and related services to be utilized at the power plant, including one combustion turbine, one condensing steam turbine, one hydrogen-cooled generator, one heat-recovery steam generator and related items. The aggregate value of the EPC Agreement and the PIE Agreement is approximately $ 430 million . Credit Agreements On February 15, 2019, LREG and two other subsidiaries (collectively, "Co-Borrowers") entered into certain credit agreements establishing (i) a $ 445 million construction loan and term loan, (ii) a $ 154 million letter of credit facility and (iii) a $ 143 million construction loan and term loan, all of which will be used for the purposes of funding the development, construction and completion of the power plant. The interest costs incurred under these credit agreements for qualifying expenditures under construction are capitalized and included in the cost of the asset. Interest capitalization ceases once the asset is substantially complete or no longer undergoing activities to prepare it for its intended use. See Note 8 for additional information related to the credit agreements. Fixed Price Power Agreements In connection with the construction of the power plant, LREG entered into fixed price power agreements for 457 megawatts of electric power. The agreements become effective on February 1, 2022, with 207 megawatts having a term of ten years and 250 megawatts having a term of seven years . Under the terms of the agreements, which are accounted for as derivatives, LREG receives a weighted average fixed price of $ 27.30 per megawatt hour and pays a variable price equal to the ELECTRICITY-PJM-AEP/DAYTON HUB-DAY AHEAD price. See Note 10 for additional information related to the fixed price power agreements.

INVESTMENTS

INVESTMENTS	3 Months Ended
	Mar. 31, 2019
Equity Method Investments and Joint Ventures [Abstract]
INVESTMENTS	INVESTMENTS The following table presents the ownership interests and carrying values of our investments: Carrying Value Investment Ownership Percentage March 31, 2019 December 31, 2018 Advanced Engine Repair JV Equity method 25% $ 12,780 $ 12,981 JGP Energy Partners LLC Equity method 50% 25,241 25,461 Intermodal Finance I, Ltd. Equity method 51% 1,757 2,118 Investments $ 39,778 $ 40,560 We did not recognize any other-than-temporary impairments for the three months ended March 31, 2019 and 2018 . Equity Method Investments The following table presents our proportionate share of equity in income (losses): Three Months Ended March 31, 2019 2018 Advanced Engine Repair JV $ (201 ) $ (224 ) JGP Energy Partners LLC (220 ) 148 Intermodal Finance I, Ltd. 37 171 Total $ (384 ) $ 95 Advanced Engine Repair JV In December 2016, we invested $15 million for 25% interest in an advanced engine repair joint venture. We focus on developing new costs savings programs for engine repairs. We exercise significant influence over this investment and account for this investment as an equity method investment. JGP In 2016, we initiated activities in a 50% non-controlling interest in JGP, a joint venture. JGP is governed by a designated operating committee selected by the members in proportion to their equity interests. JGP is solely reliant on its members to finance its activities and therefore is a variable interest entity. We concluded that we are not the primary beneficiary of JGP as the members share equally in the risks and rewards and decision making authority of the entity; therefore, we do not consolidate JGP and instead account for this investment in accordance with the equity method. Intermodal Finance I, Ltd. In 2012, we acquired a 51% non-controlling interest in Intermodal Finance I, Ltd. (“Intermodal”), a joint venture. Intermodal is governed by a board of directors, and its shareholders have voting rights through their equity interests. As such, Intermodal is not within the scope of ASC 810-20 and should be evaluated for consolidation under the voting interest model. Due to the existence of substantive participating rights of the 49% equity investor, including the joint approval of material operating and capital decisions, such as material contracts and capital expenditures consistent with ASC 810-10-25-11, we do not have unilateral rights over this investment; therefore, we do not consolidate Intermodal but account for this investment in accordance with the equity method. We do not have a variable interest in this investment as none of the criteria of ASC 810-10-15-14 were met. As of March 31, 2019 , Intermodal owns a portfolio of leases, representing one finance lease customer and comprises approximately 3,000 shipping containers, as well as a portfolio of approximately 5,000 shipping containers subject to multiple operating leases.

INTANGIBLE ASSETS AND LIABILITI

INTANGIBLE ASSETS AND LIABILITIES, NET	3 Months Ended
	Mar. 31, 2019
Intangible Assets and Liabilities Disclosure [Abstract]
INTANGIBLE ASSETS AND LIABILITIES, NET	INTANGIBLE ASSETS AND LIABILITIES, NET Intangible assets and liabilities, net are summarized as follows: March 31, 2019 Aviation Leasing Jefferson Terminal Railroad Total Intangible assets Acquired favorable lease intangibles $ 48,731 $ — $ — $ 48,731 Less: Accumulated amortization (32,378 ) — — (32,378 ) Acquired favorable lease intangibles, net 16,353 — — 16,353 Customer relationships — 35,513 225 35,738 Less: Accumulated amortization — (16,266 ) (221 ) (16,487 ) Acquired customer relationships, net — 19,247 4 19,251 Total intangible assets, net $ 16,353 $ 19,247 $ 4 $ 35,604 Intangible liabilities Acquired unfavorable lease intangibles $ 3,736 $ — $ — $ 3,736 Less: Accumulated amortization (2,249 ) — — (2,249 ) Acquired unfavorable lease intangibles, net $ 1,487 $ — $ — $ 1,487 December 31, 2018 Aviation Leasing Jefferson Terminal Railroad Total Intangible assets Acquired favorable lease intangibles $ 48,143 $ — $ — $ 48,143 Less: Accumulated amortization (29,780 ) — — (29,780 ) Acquired favorable lease intangibles, net 18,363 — — 18,363 Customer relationships — 35,513 225 35,738 Less: Accumulated amortization — (15,378 ) (210 ) (15,588 ) Acquired customer relationships, net — 20,135 15 20,150 Total intangible assets, net $ 18,363 $ 20,135 $ 15 $ 38,513 Intangible liabilities Acquired unfavorable lease intangibles $ 3,736 $ — $ — $ 3,736 Less: Accumulated amortization (2,114 ) — — (2,114 ) Acquired unfavorable lease intangibles, net $ 1,622 $ — $ — $ 1,622 Intangible liabilities relate to unfavorable lease intangibles and are included as a component of other liabilities in the Consolidated Balance Sheets. Amortization of intangible assets and liabilities is as follows: Classification in Consolidated Statements of Operations Three Months Ended March 31, 2019 2018 Lease intangibles Equipment leasing revenues $ 2,462 $ 1,992 Customer relationships Depreciation and amortization 900 900 Total $ 3,362 $ 2,892 As of March 31, 2019 , estimated net annual amortization of intangibles is as follows: 2019 $ 8,463 2020 8,759 2021 5,317 2022 5,600 2023 3,600 Thereafter 2,378 Total $ 34,117

DEBT, NET

DEBT, NET	3 Months Ended
	Mar. 31, 2019
Debt Disclosure [Abstract]
DEBT, NET	DEBT, NET Our debt, net is summarized as follows: March 31, 2019 December 31, 2018 Outstanding Borrowings Stated Interest Rate Maturity Date Outstanding Borrowings Loans payable FTAI Pride Credit Agreement (1) $ 46,181 LIBOR + 4.50% 9/15/2019 $ 47,743 CMQR Credit Agreement 22,540 (i) Adjusted LIBOR + 2.50% or 4.50%; or (ii) U.S. or Canadian Base Rate + 1.50% or 3.50%; or (iii) Canadian Fixed Rate + 2.50% or 4.50% 9/18/2019 22,265 Revolving Credit Facility (2) 165,000 (i) Base Rate + 2.00%; or (ii) Adjusted Eurodollar Rate + 3.00% 1/31/2022 100,000 Jefferson Revolver (2) 63,000 (i) Base Rate + 1.50%; or (ii) Base Rate + 2.50% (Eurodollar) 3/7/2021 49,805 DRP Revolver (3) 9,300 (i) Base Rate + 1.50%; or (ii) Base Rate + 2.50% (Eurodollar) 11/5/2021 — LREG Credit Agreement (4) 71,500 First Lien Credit Agreement: 7.30% LC Facility: Base Rate + 2.50% to 3.50% Second Lien Credit Agreement: 7.50% 2/15/2022 to 6/30/2028 — Total loans payable 377,521 219,813 Bonds payable Series 2012 Bonds (5) 42,781 8.25% 7/1/2032 42,797 Series 2016 Bonds (6) 144,200 7.25% 2/1/2036 144,200 Senior Notes due 2022 (7) 697,265 6.75% 3/15/2022 549,405 Senior Notes due 2025 (8) 295,770 6.50% 10/1/2025 295,642 Total bonds payable 1,180,016 1,032,044 Debt 1,557,537 1,251,857 Less: Debt issuance costs (17,520 ) (14,510 ) Total debt, net $ 1,540,017 $ 1,237,347 Total debt due within one year $ 227,591 $ 71,678 ________________________________________________________ (1) Secured on a first priority basis by the offshore vessel. (2) Requires a quarterly commitment fee at a rate of 0.50% on the average daily unused portion, as well as customary letter of credit fees and agency fees. (3) Requires a quarterly commitment fee at a rate of 0.875% on the average daily unused portion, as well as customary letter of credit fees and agency fees. (4) Requires a quarterly commitment fee on the average daily unused portion at a rate of 1.50% for the First Lien Credit Agreement and LC Facility and 1.00% for the Second Lien Credit Agreement, as well as customary letter of credit fees and agency fees. (5) Includes unamortized premium of $ 1,561 and $1,577 at March 31, 2019 and December 31, 2018 , respectively. (6) These bonds have a stated maturity of February 1, 2036 but are subject to mandatory tender for purchase at par, by our subsidiary, on February 13, 2020 if they have not been repurchased from proceeds of a remarketing of the bonds or redeemed prior to such date. (7) Includes unamortized discount of $ 6,972 and $5,154 at March 31, 2019 and December 31, 2018 , respectively, and an unamortized premium of $ 4,237 and $4,559 at March 31, 2019 and December 31, 2018 , respectively. (8) Includes unamortized discount of $ 4,230 and $4,358 at March 31, 2019 and December 31, 2018 , respectively. Jefferson Revolver — On December 20, 2018, our subsidiary entered into an amendment to the Jefferson Revolver which temporarily increases the aggregate revolving commitments by $ 25 million from $ 50 million to $ 75 million , until August 1, 2019, after which the aggregate revolving commitment will revert back to $ 50 million . Senior Notes due 2022 — On February 8, 2019, we issued an additional $ 150 million of Senior Notes (“2022 Notes”) at an offering price of 98.5% of the principal amount plus accrued interest from September 15, 2018. Revolving Credit Facility — On February 8, 2019, we entered into an amendment to the revolving credit facility (the “Revolving Credit Facility”). The amendment, among other things, (i) increases the aggregate revolving commitments by $ 125 million from $ 125 million to $ 250 million , (ii) extends the maturity date of the revolving loans and commitments to January 31, 2022 and (iii) makes certain modifications to the financial covenants, including an increase in the maximum ratio of debt to total equity from 1.65 to 1.00 to 2.00 to 1.00 . LREG Credit Agreement — On February 15, 2019, LREG and two other subsidiaries, Ohio Gasco LLC, (“GasCo” and, together with LREG, the “Co-Borrowers”), and Ohio PP Holdco LLC (“Holdings”), entered into a First Lien Credit Agreement establishing (i) a $445 million construction loan (the “First Lien Construction Loans”) and term loan (the “First Lien Term Loans” and, together with the First Lien Construction Loans, the “First Lien Loan Facility”) credit facility for the purposes of funding the development, construction and completion of the power plant and the associated development, production and drilling of hydrocarbon interests (cumulatively, the “Project”), and (ii) a $154 million letter of credit facility, which is available to the Co-Borrowers solely to support any collateral posting obligations of the Co-Borrowers under certain fixed price power agreements related to the Project (the “LC Facility”). The LC Facility may be increased up to $179 million under certain circumstances as set forth in the First Lien Credit Agreement, with such additional amounts of letters of credit available to LREG solely in support of any collateral posting obligations in connection with a bid in the PJM capacity auction. As of March 31, 2019, $128 million letters of credit have been provided to counterparties in accordance with the provisions of the LC Facility, leaving $26 million of remaining initial letter of credit capacity. The First Lien Construction Loans are available until the date on which, among other things, substantial completion of the Project is achieved (which is required to occur on or prior to June 1, 2022), at which point the First Lien Construction Loans then outstanding shall automatically convert to Term Loans (“Term Conversion”). Following Term Conversion, the First Lien Term Loans will commence amortization on a quarterly basis and will mature on December 31, 2027. The LC Facility will mature upon the earlier of (a) February 15, 2022, (b) the date the loans under the First Lien Loan Facility are accelerated or (c) the date of Term Conversion. Also on February 15, 2019, the Co-Borrowers and Holdings entered into a Second Lien Credit Agreement (the “Second Lien Credit Agreement” and, together with the First Lien Credit Agreement, the “Credit Agreements”) establishing a $ 143 million construction loan (the “Second Lien Construction Loans”) and term loan (the “Second Lien Term Loans” and, together with the Second Lien Construction Loans, the “Second Lien Loan Facility”) credit facility for the purposes of funding the development, construction and completion of the Project. The Co-Borrowers were required to borrow $ 71.5 million in Second Lien Construction Loans on February 15, 2019, with the remaining Second Lien Construction Loans required to be borrowed no later than February 15, 2020. Following Term Conversion, the Second Lien Construction Loans then outstanding will automatically convert to Second Lien Term Loans and will commence amortization on a quarterly basis and mature on June 30, 2028. The Co-Borrowers’ obligations under the First Lien Credit Agreement and the Second Lien Credit Agreement are guaranteed by the Co-Borrowers and Holdings and are secured by first priority security interests and second priority security interests, respectively, in all of the assets of the Co-Borrowers and Holdings. The borrowings under the Credit Agreements are not guaranteed by us and are non-recourse to us. We were in compliance with all debt covenants as of March 31, 2019 .

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	3 Months Ended
	Mar. 31, 2019
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS Fair value measurements and disclosures require the use of valuation techniques to measure fair value that maximize the use of observable inputs and minimize use of unobservable inputs. These inputs are prioritized as follows: • Level 1: Observable inputs such as quoted prices in active markets for identical assets or liabilities. • Level 2: Inputs other than quoted prices included within Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities or market corroborated inputs. • Level 3: Unobservable inputs for which there is little or no market data and which require us to develop our own assumptions about how market participants price the asset or liability. The valuation techniques that may be used to measure fair value are as follows: • Market approach—Uses prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities. • Income approach—Uses valuation techniques to convert future amounts to a single present amount based on current market expectations about those future amounts. • Cost approach—Based on the amount that currently would be required to replace the service capacity of an asset (replacement cost). The following tables set forth our financial assets measured at fair value on a recurring basis as of March 31, 2019 and December 31, 2018 , by level within the fair value hierarchy. Assets measured at fair value are classified in their entirety based on the lowest level of input that is significant to their fair value measurement. Fair Value as of Fair Value Measurements Using Fair Value Hierarchy as of March 31, 2019 March 31, 2019 Total Level 1 Level 2 Level 3 Valuation Technique Assets Cash and cash equivalents $ 120,515 $ 120,515 $ — $ — Market Restricted cash 108,058 108,058 — — Market Derivative assets 7,590 — — 7,590 Income Total assets $ 236,163 $ 228,573 $ — $ 7,590 Liabilities Derivative liabilities $ (47,277 ) $ — $ — $ (47,277 ) Income Total liabilities $ (47,277 ) $ — $ — $ (47,277 ) Fair Value as of Fair Value Measurements Using Fair Value Hierarchy as of December 31, 2018 December 31, 2018 Total Level 1 Level 2 Level 3 Valuation Technique Assets Cash and cash equivalents $ 99,601 $ 99,601 $ — $ — Market Restricted cash 21,236 21,236 — — Market Derivative assets 7,470 — — 7,470 Income Total $ 128,307 $ 120,837 $ — $ 7,470 Liabilities Derivative liabilities $ (925 ) $ — $ — $ (925 ) Income Total liabilities $ (925 ) $ — $ — $ (925 ) The fair value of our electricity derivative liabilities and commodity derivative assets and liabilities classified as Level 3 measurements are estimated by applying the income approach, which is based on discounted projected future cash flows. The valuation of our electricity derivatives is based on management’s best estimate of certain key assumptions, which include extrapolated power forward curves for periods with unobservable market pricing, credit valuation adjustments utilizing estimated cash flows, estimated price volatility and probability of default, and the discount rate. The valuation of our commodity derivatives is based on management’s best estimate of certain key assumptions, which include an estimated differential factor for varying quality of commodity and the discount rate. Our cash and cash equivalents and restricted cash consist largely of demand deposit accounts with maturities of 90 days or less when purchased that are considered to be highly liquid. These instruments are valued using inputs observable in active markets for identical instruments and are therefore classified as Level 1 within the fair value hierarchy. Except as discussed below, our financial instruments other than cash and cash equivalents and restricted cash consist principally of accounts receivable, accounts payable and accrued liabilities, loans payable, bonds payable, security deposits, maintenance deposits and management fees payable, whose fair value approximates their carrying value based on an evaluation of pricing data, vendor quotes, and historical trading activity or due to their short maturity profiles. The fair value of our bonds and notes payable reported as debt, net in the Consolidated Balance Sheets are presented in the table below: March 31, 2019 December 31, 2018 Series 2012 Bonds (1) $ 43,141 $ 42,633 Series 2016 Bonds (1) 148,683 149,582 Senior Notes due 2022 712,705 551,144 Senior Notes due 2025 296,235 283,965 ________________________________________________________ (1) Fair value is based upon market prices for similar municipal securities. The fair value of all other items reported as debt, net in the Consolidated Balance Sheet approximate their carrying values due to their bearing market rates of interest, and are classified as Level 2 within the fair value hierarchy. We measure the fair value of certain assets and liabilities on a non-recurring basis when GAAP requires the application of fair value, including events or changes in circumstances that indicate that the carrying amounts of assets may not be recoverable. Assets subject to these measurements include goodwill, intangible assets, property, plant and equipment and leasing equipment. We record such assets at fair value when it is determined the carrying value may not be recoverable. Fair value measurements for assets subject to impairment tests are based on an income approach which uses Level 3 inputs, which include our assumptions as to future cash flows from operation of the underlying businesses and the leasing and eventual sale of assets.

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS DERIVATIVE FINANCIAL INSTRUMENTS	3 Months Ended
	Mar. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE FINANCIAL INSTRUMENTS	DERIVATIVE FINANCIAL INSTRUMENTS Electricity Derivatives We are subject to electricity price volatility stemming from the anticipated sales of electricity from our Long Ridge power generation plant under construction. From time to time, we enter into electricity swap agreements to manage our exposure to electricity price fluctuations. Certain derivatives are designated as hedging instruments within cash flow hedging relationships and certain other derivatives are not designated as hedging instruments. Commodity Derivatives Depending on market conditions, we source crude oil from producers in Canada, arranging logistics to Jefferson Terminal and marketing crude oil to third parties. These crude oil forward purchase and sales contracts are not designated in hedging relationships. The following table presents information related to our outstanding derivative contracts: Notional Amount Fair Value of Assets (1) Fair Value of Liabilities (1) Term March 31, 2019 Derivatives Designated in Cash Flow Hedges: Electricity swaps $ 29,278 $ — $ (43,012 ) 7 to 10 years Non-hedge Derivative Instruments: Electricity swaps $ 4,207 $ — $ (2,370 ) 7 to 10 years Crude oil forwards 2,687 7,590 (1,895 ) 1 to 9 months December 31, 2018 Derivatives Designated in Cash Flow Hedges: Electricity swaps $ — $ — $ — N/A Non-hedge Derivative Instruments: Electricity swaps $ — $ — $ — N/A Crude oil forwards 3,225 7,470 (925 ) 1 to 12 months ________________________________________________________ (1) Included in Other assets and Other liabilities, respectively, in our Consolidated Balance Sheets. The following table presents pretax gains and losses on our derivative contracts: Three Months Ended March 31, 2019 2018 Electricity Swaps: Losses recognized in other comprehensive loss before reclassifications $ (43,012 ) $ — Gains (losses) reclassified from accumulated other comprehensive income — — Losses recognized in earnings (2,370 ) — Crude Oil Forwards: (Losses) gains recognized in earnings $ (850 ) $ 624 As of March 31, 2019, we do not expect any gains or losses on our electricity swaps to be reclassified into revenue in the next 12 months. As of March 31, 2019, the maximum length of time over which we are hedging forecasted electricity sales is 13 years.

REVENUES

REVENUES	3 Months Ended
	Mar. 31, 2019
Revenue from Contract with Customer [Abstract]
REVENUES	REVENUES We disaggregate our revenue from contracts with customers by products and services provided for each of our segments, as we believe it best depicts the nature, amount, timing and uncertainty of our revenue. Revenues attributed to our Equipment Leasing business unit are within the scope of ASC 840 prior to January 1, 2019 and ASC 842 after January 1, 2019, while revenues attributed to our Infrastructure business unit are within the scope of ASC 606, unless otherwise noted. Under the provisions of ASC 842, we have elected to exclude sales and other similar taxes from lease payments in arrangements where we are a lessor. Three Months Ended March 31, 2019 Equipment Leasing Infrastructure Aviation Leasing Jefferson Terminal Railroad Ports and Terminals Corporate and Other Total Equipment leasing revenues Lease income $ 47,303 $ — $ — $ — $ 1,933 $ 49,236 Maintenance revenue 21,777 — — — — 21,777 Finance lease income 826 — — — — 826 Other revenue 505 — — — 108 613 Total equipment leasing revenues 70,411 — — — 2,041 72,452 Infrastructure revenues Lease income — 308 — 355 — 663 Rail revenues — — 10,507 — — 10,507 Terminal services revenues — 4,867 — 1,818 — 6,685 Crude marketing revenues — 30,779 — — — 30,779 Other revenue — — — 3,541 — 3,541 Total infrastructure revenues — 35,954 10,507 5,714 — 52,175 Total revenues $ 70,411 $ 35,954 $ 10,507 $ 5,714 $ 2,041 $ 124,627 Three Months Ended March 31, 2018 Equipment Leasing Infrastructure Aviation Leasing Jefferson Terminal Railroad Ports and Terminals Corporate and Other Total Equipment leasing revenues Lease income $ 33,250 $ — $ — $ — $ 2,249 $ 35,499 Maintenance revenue 19,485 — — — — 19,485 Finance lease income — — — — 367 367 Other revenue — — — — 433 433 Total equipment leasing revenues 52,735 — — — 3,049 55,784 Infrastructure revenues Lease income — — — 382 — 382 Rail revenues — — 11,047 — — 11,047 Terminal services revenues — 1,253 — — — 1,253 Crude marketing revenues — — — — — — Other revenue — — — 378 — 378 Total infrastructure revenues — 1,253 11,047 760 — 13,060 Total revenues $ 52,735 $ 1,253 $ 11,047 $ 760 $ 3,049 $ 68,844 Presented below are the contracted minimum future annual revenues to be received under existing operating and finance leases across several market sectors as of March 31, 2019 : Operating Leases Finance Leases (1) 2019 $ 135,843 $ 2,435 2020 123,572 1,386 2021 86,212 — 2022 52,696 — 2023 31,791 — Thereafter 19,466 — Total $ 449,580 $ 3,821 ________________________________________________________ (1) Excludes future revenues that are currently on nonaccrual status due to a recent casualty event on one of our vessels under a finance lease, for which we have insurance. In the case we may not collect future interest or principal, we expect that our insurance proceeds will exceed the current carrying value of this lease.

LEASES

LEASES	3 Months Ended
	Mar. 31, 2019
Leases [Abstract]
LEASES	LEASES We have commitments as lessees under lease arrangements primarily for real estate, equipment and vehicles. Our leases have remaining lease terms ranging from 3 months to 46 years. The following table presents lease related costs for the three months ended March 31, 2019 : Finance Leases Amortization of right-of-use assets $ 49 Interest on lease liabilities 30 Finance lease expense 79 Operating lease expense 2,529 Short-term lease expense 1,060 Variable lease expense 292 Total lease expense $ 3,960 The following table presents information related to our operating leases as of and for the three months ended March 31, 2019 : Right-of-use assets, net $ 44,241 Lease liabilities 44,719 Weighted average remaining lease term 35.1 years Weighted average incremental borrowing rate 7.0 % Cash paid for amounts included in the measurement of operating lease liabilities Operating cash flows $ 2,529 The following table presents future minimum lease payments under non-cancellable operating leases as of March 31, 2019 : Remainder of 2019 $ 6,832 2020 5,549 2021 4,144 2022 3,502 2023 2,662 Thereafter 95,202 Total undiscounted lease payments 117,891 Less: Imputed interest 73,172 Total lease liabilities $ 44,719 As of March 31, 2019 , we have an agreement for an office lease that has not yet commenced which we estimate will have a right-of-use asset value of $ 0.8 million . The lease is expected to commence in the fourth quarter of 2019 and has a lease term of seven years.

EQUITY-BASED COMPENSATION

EQUITY-BASED COMPENSATION	3 Months Ended
	Mar. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
EQUITY-BASED COMPENSATION	EQUITY-BASED COMPENSATION In 2015, we established a Nonqualified Stock Option and Incentive Award Plan (“Incentive Plan”) which provides for the ability to award equity compensation awards in the form of stock options, stock appreciation rights, restricted stock, and performance awards to eligible employees, consultants, directors, and other individuals who provide services to us, each as determined by the Compensation Committee of the Board of Directors. As of March 31, 2019 , the Incentive Plan provides for the issuance of up to 30 million shares. We account for equity-based compensation expense in accordance with ASC 718 Compensation-Stock Compensation and is reported within operating expenses and general and administrative in the Consolidated Statements of Operations. The Consolidated Statements of Operations includes the following expense related to our stock-based compensation arrangements: Three Months Ended March 31, Remaining Expense To Be Recognized, If All Vesting Conditions Are Met Weighted Average Remaining Contractual Term, (in years) 2019 2018 Stock Options $ — $ 9 $ — 8.9 Restricted Shares 90 90 552 0.9 Common Units 138 109 636 0.8 Total $ 228 $ 208 $ 1,188 During the three months ended March 31, 2019 , the Manager transferred 165,268 of its options to certain of the Manager’s employees.

INCOME TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2019
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The current and deferred components of the income tax provision included in the Consolidated Statements of Operations are as follows: Three Months Ended March 31, 2019 2018 Current: Federal $ 19 $ 129 State and local 65 19 Foreign 52 17 Total current provision 136 165 Deferred: Federal 103 288 State and local 29 42 Foreign 185 — Total deferred provision 317 330 Total provision for income taxes $ 453 $ 495 We are taxed as a flow-through entity for U.S. income tax purposes and our taxable income or loss generated is the responsibility of our owners. Taxable income or loss generated by our corporate subsidiaries is subject to U.S. federal, state and foreign corporate income tax in locations where they conduct business. Our effective tax rate differs from the U.S. federal tax rate of 21% primarily due to a significant portion of our income not being subject to U.S. corporate tax rates, or being deemed to be foreign sourced and thus either not taxable or taxable at effectively lower tax rates. As of and for the three months ended March 31, 2019 , we had not established a liability for uncertain tax positions as no such positions existed. In general, our tax returns and the tax returns of our corporate subsidiaries are subject to U.S. federal, state, local and foreign income tax examinations by tax authorities. Generally, we are not subject to examination by taxing authorities for tax years prior to 2015. We do not believe that it is reasonably possible that the total amount of unrecognized tax benefits will significantly change within 12 months of the reporting date of March 31, 2019 .

MANAGEMENT AGREEMENT AND AFFILI

MANAGEMENT AGREEMENT AND AFFILIATE TRANSACTIONS	3 Months Ended
	Mar. 31, 2019
Related Party Transactions [Abstract]
MANAGEMENT AGREEMENT AND AFFILIATE TRANSACTIONS	MANAGEMENT AGREEMENT AND AFFILIATE TRANSACTIONS The Manager is paid annual fees in exchange for advising us on various aspects of our business, formulating our investment strategies, arranging for the acquisition and disposition of assets, arranging for financing, monitoring performance, and managing our day-to-day operations, inclusive of all costs incidental thereto. In addition, the Manager may be reimbursed for various expenses incurred by the Manager on our behalf, including the costs of legal, accounting and other administrative activities. Additionally, we have entered into certain incentive allocation arrangements with Master GP, which owns 0.05% of the Partnership and is the general partner of the Partnership. The Manager is entitled to a management fee, incentive allocations (comprised of income incentive allocation and capital gains incentive allocation, defined below) and reimbursement of certain expenses. The management fee is determined by taking the average value of total equity (excluding non-controlling interests) determined on a consolidated basis in accordance with GAAP at the end of the two most recently completed months multiplied by an annual rate of 1.50% , and is payable monthly in arrears in cash. The income incentive allocation is calculated and distributable quarterly in arrears based on the pre-incentive allocation net income for the immediately preceding calendar quarter (the “Income Incentive Allocation”). For this purpose, pre-incentive allocation net income means, with respect to a calendar quarter, net income attributable to shareholders during such quarter calculated in accordance with GAAP excluding our pro rata share of (1) realized or unrealized gains and losses, and (2) certain non-cash or one-time items, and (3) any other adjustments as may be approved by our independent directors. Pre-incentive allocation net income does not include any Income Incentive Allocation or Capital Gains Incentive Allocation (described below) paid to the Master GP during the relevant quarter. A subsidiary of ours allocates and distributes to the Master GP an Income Incentive Allocation with respect to its pre-incentive allocation net income in each calendar quarter as follows: (1) no Income Incentive Allocation in any calendar quarter in which pre-incentive allocation net income, expressed as a rate of return on the average value of our net equity capital (excluding non-controlling interests) at the end of the two most recently completed calendar quarters, does not exceed 2% for such quarter ( 8% annualized); (2) 100% of pre-incentive allocation net income with respect to that portion of such pre-incentive allocation net income, if any, that is equal to or exceeds 2% but does not exceed 2.2223% for such quarter; and (3) 10% of the amount of pre-incentive allocation net income, if any, that exceeds 2.2223% for such quarter. These calculations will be prorated for any period of less than three months. Capital Gains Incentive Allocation is calculated and distributable in arrears as of the end of each calendar year and is equal to 10% of our pro rata share of cumulative realized gains from the date of the IPO through the end of the applicable calendar year, net of our pro rata share of cumulative realized or unrealized losses, the cumulative non-cash portion of equity-based compensation expenses and all realized gains upon which prior performance-based Capital Gains Incentive Allocation payments were made to the Master GP. The following table summarizes the management fees, income incentive allocation and capital gains incentive allocation: Three Months Ended March 31, 2019 2018 Management fees $ 3,676 $ 3,739 Income incentive allocation — — Capital gains incentive allocation 162 — Total $ 3,838 $ 3,739 We will pay all of our operating expenses, except those specifically required to be borne by the Manager under the Management Agreement. The expenses required to be paid by us include, but are not limited to, issuance and transaction costs incident to the acquisition, disposition and financing of our assets, legal and auditing fees and expenses, the compensation and expenses of our independent directors, the costs associated with the establishment and maintenance of any credit facilities and other indebtedness of ours (including commitment fees, legal fees, closing costs, etc.), expenses associated with other securities offerings of ours, costs and expenses incurred in contracting with third parties (including affiliates of the Manager), the costs of printing and mailing proxies and reports to our shareholders, costs incurred by the Manager or its affiliates for travel on our behalf, costs associated with any computer software or hardware that is used for us, costs to obtain liability insurance to indemnify our directors and officers and the compensation and expenses of our transfer agent. We will pay or reimburse the Manager and its affiliates for performing certain legal, accounting, due diligence tasks and other services that outside professionals or outside consultants otherwise would perform, provided that such costs and reimbursements are no greater than those which would be paid to outside professionals or consultants. The Manager is responsible for all of its other costs incident to the performance of its duties under the Management Agreement, including compensation of the Manager’s employees, rent for facilities and other “overhead” expenses; we will not reimburse the Manager for these expenses. The following table summarizes our reimbursements to the Manager: Three Months Ended March 31, 2019 2018 Classification in the Consolidated Statements of Operations: General and administrative expenses $ 2,543 $ 2,181 Acquisition and transaction expenses 1,461 1,604 Total $ 4,004 $ 3,785 If we terminate the Management Agreement, we will generally be required to pay the Manager a termination fee. The termination fee is equal to the amount of the management fee during the 12 months immediately preceding the date of the termination. In addition, an Incentive Allocation Fair Value Amount will be distributable to the Master GP if the Master GP is removed due to the termination of the Management Agreement in certain specified circumstances. The Incentive Allocation Fair Value Amount is an amount equal to the Income Incentive Allocation and the Capital Gains Incentive Allocation that would be paid to the Master GP if our assets were sold for cash at their then current fair market value (as determined by an appraisal, taking into account, among other things, the expected future value of the underlying investments). Upon the successful completion of a post-IPO offering of our common shares or other equity securities (including securities issued as consideration in an acquisition), we will grant the Manager options to purchase common shares in an amount equal to 10% of the number of common shares being sold in the offering (or if the issuance relates to equity securities other than our common shares, options to purchase a number of common shares equal to 10% of the gross capital raised in the equity issuance divided by the fair market value of a common share as of the date of issuance), with an exercise price equal to the offering price per share paid by the public or other ultimate purchaser or attributed to such securities in connection with an acquisition (or the fair market value of a common share as of the date of the equity issuance if it relates to equity securities other than our common shares). Any ultimate purchaser of common shares for which such options are granted may be an affiliate of Fortress. The following table summarizes amounts due to the Manager, which are included within accounts payable and accrued liabilities in the Consolidated Balance Sheets: March 31, 2019 December 31, 2018 Accrued management fees $ 1,256 $ 1,263 Other payables 3,221 3,965 As of March 31, 2019 and December 31, 2018 , there were no receivables from the Manager. Other Affiliate Transactions As of March 31, 2019 and December 31, 2018 an affiliate of our Manager owns an approximately 20% interest in Jefferson Terminal which has been accounted for as a component of non-controlling interest in consolidated subsidiaries in the consolidated financial statements. The carrying amount of this non-controlling interest at March 31, 2019 and December 31, 2018 was $ 47.7 million and $51.1 million , respectively. The following table presents the amount of this non-controlling interest share of net loss: Three Months Ended March 31, 2019 2018 Non-controlling interest share of net loss $ 3,296 $ 4,764 In connection with the Capital Call Agreement related to the Series 2016 Bonds, we, and an affiliate of our Manager, entered into a Fee and Support Agreement. The Fee and Support Agreement provides that the affiliate of the Manager is compensated for its guarantee of a portion of the obligations under the Standby Bond Purchase Agreement. This affiliate of the Manager received fees of $1.7 million , which are amortized as interest expense to the earlier of the redemption date or February 13, 2020. In connection with the amendment to the Jefferson Revolver (see Note 8), on December 20, 2018, our subsidiary and an affiliate of our Manager entered into an amended and restated Fee and Support Agreement, and our subsidiary issued a $ 0.3 million promissory note to the affiliate of our Manager, as consideration for the fee payable pursuant to the amended and restated Fee and Support Agreement. On June 21, 2018, we, through a wholly owned subsidiary, completed a private offering with several third parties (the “Holders”) to tender their approximately 20% stake in Jefferson Terminal. We increased our majority interest in Jefferson Terminal in exchange for Class B Units of another wholly owned subsidiary, which provide the right to convert such Class B Units to a fixed amount of our shares, equivalent to approximately 1.9 million shares, at a Holder’s request. We have the option to satisfy any exchange request by delivering either common shares or cash. The Holders are entitled to receive distributions equivalent to the distributions paid to our shareholders. This transaction resulted in a purchase of non-controlling interest shares. See note 17 for details related to conversions during the period.

SEGMENT INFORMATION

SEGMENT INFORMATION	3 Months Ended
	Mar. 31, 2019
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION Our reportable segments represent strategic business units comprised of investments in different types of transportation and infrastructure assets. We have four reportable segments which operate in the Equipment Leasing and Infrastructure businesses across several market sectors. Our reportable segments are (i) Aviation Leasing, (ii) Jefferson Terminal, (iii) Railroad, and (iv) Ports and Terminals. Aviation Leasing consists of aircraft and aircraft engines held for lease and are typically held long-term. Jefferson Terminal consists of a multi-modal crude oil and refined products terminal and other related assets. Railroad consists of our CMQR railroad operations. Ports and Terminals consists of Repauno, which is a 1,630 acre deep-water port located along the Delaware River with an underground storage cavern and multiple industrial development opportunities, and Long Ridge, which is a 1,660 acre multi-modal port located along the Ohio River with rail, dock, and multiple industrial development opportunities, including a power plant under construction. Corporate and Other primarily consists of debt, unallocated company level general and administrative expenses, and management fees. Additionally, Corporate and Other includes (i) offshore energy related assets, which consists of vessels and equipment that support offshore oil and gas drilling and production which are typically subject to long-term operating leases and (ii) an investment in an unconsolidated entity engaged in the acquisition and leasing of shipping containers (on both an operating lease and finance lease basis). During the first quarter of 2019, we updated our segment performance measure from Adjusted Net Income to Adjusted EBITDA (see definition below) as this is the primary performance measure that our Chief Operating Decision Maker (“CODM”) utilizes to assess operational performance, as well as make resource and allocation decisions. In connection with the change in our performance measure, in accordance with ASC 280, we also assessed our reportable segments. We determined that our Offshore Energy and Shipping Containers segments no longer met the requirement as reportable segments and, accordingly, we have presented these operating segments, along with Corporate results, within Corporate and Other effective in the first quarter of 2019. All prior periods have been restated for historical comparison across segments. The accounting policies of the segments are the same as those described in the summary of significant accounting policies; however, financial information presented by segment includes the impact of intercompany eliminations. We evaluate investment performance for each reportable segment primarily based on net income attributable to shareholders and Adjusted EBITDA. Adjusted EBITDA is defined as net income (loss) attributable to shareholders, adjusted (a) to exclude the impact of provision for income taxes, equity-based compensation expense, acquisition and transaction expenses, losses on the modification or extinguishment of debt and capital lease obligations, changes in fair value of non-hedge derivative instruments, asset impairment charges, incentive allocations, depreciation and amortization expense, and interest expense, (b) to include the impact of our pro-rata share of Adjusted EBITDA from unconsolidated entities, and (c) to exclude the impact of equity in earnings (losses) of unconsolidated entities and the non-controlling share of Adjusted EBITDA. We believe that net income attributable to shareholders, as defined by GAAP, is the most appropriate earnings measurement with which to reconcile Adjusted EBITDA. Adjusted EBITDA should not be considered as an alternative to net income attributable to shareholders as determined in accordance with GAAP. The following tables set forth certain information for each reportable segment: I. For the Three Months Ended March 31, 2019 Three Months Ended March 31, 2019 Equipment Leasing Infrastructure Aviation Leasing Jefferson Terminal Railroad Ports and Terminals Corporate and Other Total Revenues Equipment leasing revenues $ 70,411 $ — $ — $ — $ 2,041 $ 72,452 Infrastructure revenues — 35,954 10,507 5,714 — 52,175 Total revenues 70,411 35,954 10,507 5,714 2,041 124,627 Expenses Operating expenses 6,078 39,241 9,266 4,902 2,431 61,918 General and administrative — — — — 4,732 4,732 Acquisition and transaction expenses 13 — — — 1,461 1,474 Management fees and incentive allocation to affiliate — — — — 3,838 3,838 Depreciation and amortization 30,005 5,156 765 1,993 1,614 39,533 Interest expense — 3,924 569 296 16,514 21,303 Total expenses 36,096 48,321 10,600 7,191 30,590 132,798 Other income (expense) Equity in (losses) earnings of unconsolidated entities (201 ) (220 ) — — 37 (384 ) Gain on sale of equipment, net 1,718 — 7 — — 1,725 Interest income 26 38 — 21 6 91 Other expense — (233 ) (1 ) (2,370 ) — (2,604 ) Total other income (expense) 1,543 (415 ) 6 (2,349 ) 43 (1,172 ) Income (loss) before income taxes 35,858 (12,782 ) (87 ) (3,826 ) (28,506 ) (9,343 ) Provision for income taxes 180 86 186 — 1 453 Net income (loss) 35,678 (12,868 ) (273 ) (3,826 ) (28,507 ) (9,796 ) Less: Net loss attributable to non-controlling interests in consolidated subsidiaries — (3,296 ) (56 ) (64 ) — (3,416 ) Net income (loss) attributable to shareholders $ 35,678 $ (9,572 ) $ (217 ) $ (3,762 ) $ (28,507 ) $ (6,380 ) The following table sets forth a reconciliation of Adjusted EBITDA to net loss attributable to shareholders: Three Months Ended March 31, 2019 Equipment Leasing Infrastructure Aviation Leasing Jefferson Terminal Railroad Ports and Terminals Corporate and Other Total Adjusted EBITDA $ 74,210 $ (1,290 ) $ 1,199 $ 926 $ (8,755 ) $ 66,290 Add: Non-controlling share of Adjusted EBITDA 2,303 Add: Equity in losses of unconsolidated entities (384 ) Less: Pro-rata share of Adjusted EBITDA from unconsolidated entities 118 Less: Interest expense (21,303 ) Less: Depreciation and amortization expense (47,867 ) Less: Incentive allocations (162 ) Less: Asset impairment charges — Less: Changes in fair value of non-hedge derivative instruments (3,220 ) Less: Losses on the modification or extinguishment of debt and capital lease obligations — Less: Acquisition and transaction expenses (1,474 ) Less: Equity-based compensation expense (228 ) Less: Provision for income taxes (453 ) Net loss attributable to shareholders $ (6,380 ) Summary information with respect to our geographic sources of revenue, based on location of customer, is as follows: Three Months Ended March 31, 2019 Equipment Leasing Infrastructure Aviation Leasing Jefferson Terminal Railroad Ports and Terminals Corporate and Other Total Revenues Africa $ 3,477 $ — $ — $ — $ — $ 3,477 Asia 22,114 — — — 2,041 24,155 Europe 31,885 — — — — 31,885 North America 10,826 35,954 10,507 5,714 — 63,001 South America 2,109 — — — — 2,109 Total $ 70,411 $ 35,954 $ 10,507 $ 5,714 $ 2,041 $ 124,627 II. For the Three Months Ended March 31, 2018 Three Months Ended March 31, 2018 Equipment Leasing Infrastructure Aviation Leasing Jefferson Terminal Railroad Ports and Terminals Corporate and Other Total Revenues Equipment leasing revenues $ 52,735 $ — $ — $ — $ 3,049 $ 55,784 Infrastructure revenues — 1,253 11,047 760 — 13,060 Total revenues 52,735 1,253 11,047 760 3,049 68,844 Expenses Operating expenses 3,433 11,959 7,438 2,381 2,368 27,579 General and administrative — — — — 3,586 3,586 Acquisition and transaction expenses 157 — — — 1,609 1,766 Management fees and incentive allocation to affiliate — — — — 3,739 3,739 Depreciation and amortization 21,813 4,790 573 809 1,602 29,587 Interest expense — 3,528 345 272 7,726 11,871 Total expenses 25,403 20,277 8,356 3,462 20,630 78,128 Other income (expense) Equity in (losses) earnings of unconsolidated entities (224 ) 148 — — 171 95 (Loss) gain on sale of equipment, net (20 ) — 15 — — (5 ) Interest income 73 100 — — 3 176 Other income — 180 — — — 180 Total other (expense) income (171 ) 428 15 — 174 446 Income (loss) before income taxes 27,161 (18,596 ) 2,706 (2,702 ) (17,407 ) (8,838 ) Provision for (benefit from) income taxes 483 11 — (1 ) 2 495 Net income (loss) 26,678 (18,607 ) 2,706 (2,701 ) (17,409 ) (9,333 ) Less: Net income (loss) attributable to non-controlling interests in consolidated subsidiaries (24 ) (8,949 ) 206 6 — (8,761 ) Net income (loss) attributable to shareholders $ 26,702 $ (9,658 ) $ 2,500 $ (2,707 ) $ (17,409 ) $ (572 ) The following table sets forth a reconciliation of Adjusted EBITDA to net loss attributable to shareholders: Three Months Ended March 31, 2018 Equipment Leasing Infrastructure Aviation Leasing Jefferson Terminal Railroad Ports and Terminals Corporate and Other Total Adjusted EBITDA $ 56,210 $ (3,550 ) $ 3,406 $ (1,564 ) $ (6,381 ) $ 48,121 Add: Non-controlling share of Adjusted EBITDA 3,165 Add: Equity in earnings of unconsolidated entities 95 Less: Pro-rata share of Adjusted EBITDA from unconsolidated entities (175 ) Less: Interest expense (11,871 ) Less: Depreciation and amortization expense (36,814 ) Less: Incentive allocations — Less: Asset impairment charges — Less: Changes in fair value of non-hedge derivative instruments (624 ) Less: Losses on the modification or extinguishment of debt and capital lease obligations — Less: Acquisition and transaction expenses (1,766 ) Less: Equity-based compensation expense (208 ) Less: Provision for income taxes (495 ) Net loss attributable to shareholders $ (572 ) Summary information with respect to our geographic sources of revenue, based on location of customer, is as follows: Three Months Ended March 31, 2018 Equipment Leasing Infrastructure Aviation Leasing Jefferson Terminal Railroad Ports and Terminals Corporate and Other Total Revenues Africa $ 1,385 $ — $ — $ — $ — $ 1,385 Asia 9,209 — — — 2,683 11,892 Europe 34,918 — — — — 34,918 North America 7,133 1,253 11,047 760 366 20,559 South America 90 — — — — 90 Total $ 52,735 $ 1,253 $ 11,047 $ 760 $ 3,049 $ 68,844 V. Balance Sheet and location of long-lived assets The following tables sets forth summarized balance sheet information and the geographic location of property, plant and equipment and leasing equipment, net as of March 31, 2019 and December 31, 2018 : March 31, 2019 Equipment Leasing Infrastructure Aviation Leasing Jefferson Terminal Railroad Ports and Terminals Corporate and Other Total Total assets $ 1,428,504 $ 717,611 $ 72,731 $ 445,035 $ 283,819 $ 2,947,700 Debt, net — 248,472 22,540 80,800 1,188,205 1,540,017 Total liabilities 239,836 321,624 45,640 156,468 1,211,078 1,974,646 Non-controlling interests in equity of consolidated subsidiaries — 48,851 3,248 572 524 53,195 Total equity 1,188,668 395,987 27,091 288,567 (927,259 ) 973,054 Total liabilities and equity $ 1,428,504 $ 717,611 $ 72,731 $ 445,035 $ 283,819 $ 2,947,700 March 31, 2019 Equipment Leasing Infrastructure Aviation Leasing Jefferson Terminal Railroad Ports and Terminals Corporate and Other Total Property, plant and equipment and leasing equipment, net Africa $ 46,339 $ — $ — $ — $ — $ 46,339 Asia 419,489 — — — 34,858 454,347 Europe 579,317 — — — — 579,317 North America 198,182 455,525 51,050 321,271 120,731 1,146,759 South America 33,700 — — — — 33,700 Total $ 1,277,027 $ 455,525 $ 51,050 $ 321,271 $ 155,589 $ 2,260,462 December 31, 2018 Equipment Leasing Infrastructure Aviation Leasing Jefferson Terminal Railroad Ports and Terminals Corporate and Other Total Total assets $ 1,367,074 $ 670,682 $ 64,286 $ 277,160 $ 259,576 $ 2,638,778 Debt, net — 234,862 22,239 — 980,246 1,237,347 Total liabilities 234,449 288,256 37,207 16,615 1,008,469 1,584,996 Non-controlling interests in equity of consolidated subsidiaries — 52,058 3,258 544 523 56,383 Total equity 1,132,625 382,426 27,079 260,545 (748,893 ) 1,053,782 Total liabilities and equity $ 1,367,074 $ 670,682 $ 64,286 $ 277,160 $ 259,576 $ 2,638,778 December 31, 2018 Equipment Leasing Infrastructure Aviation Leasing Jefferson Terminal Railroad Ports and Terminals Corporate and Other Total Property, plant and equipment and leasing equipment, net Africa $ 47,353 $ — $ — $ — $ — $ 47,353 Asia 383,648 — — — 34,667 418,315 Europe 592,670 — — — 121,950 714,620 North America 177,962 433,404 51,157 263,747 — 926,270 South America 34,505 — — — — 34,505 Total $ 1,236,138 $ 433,404 $ 51,157 $ 263,747 $ 156,617 $ 2,141,063

EARNINGS PER SHARE AND EQUITY

EARNINGS PER SHARE AND EQUITY	3 Months Ended
	Mar. 31, 2019
Earnings Per Share [Abstract]
EARNINGS PER SHARE AND EQUITY	EARNINGS PER SHARE AND EQUITY Basic earnings (loss) per share (“EPS”) is calculated by dividing net income (loss) attributable to shareholders by the weighted average number of common shares outstanding, plus any participating securities. Diluted EPS is calculated by dividing net income (loss) attributable to shareholders by the weighted average number of common shares outstanding, plus any participating securities and potentially dilutive securities. Potentially dilutive securities are calculated using the treasury stock method. The calculation of basic and diluted EPS is presented below: Three Months Ended March 31, (in thousands, except share and per share data) 2019 2018 Net loss attributable to shareholders $ (6,380 ) $ (572 ) Weighted Average Shares Outstanding - Basic (1) 85,986,453 81,534,454 Weighted Average Shares Outstanding - Diluted (1) 85,986,453 81,534,454 Basic EPS $ (0.07 ) $ (0.01 ) Diluted EPS $ (0.07 ) $ (0.01 ) ________________________________________________________ (1) The three months ended March 31, 2019 includes 1.5 million equivalent participating securities which can be converted into a fixed amount of our shares. For the three months ended March 31, 2019 and 2018 , 138,659 and 47,189 shares, respectively, have been excluded from the calculation of Diluted EPS because the impact would be anti-dilutive. In January 2019, we issued 16,275 common shares to certain directors as compensation. During the first quarter of 2019, certain holders of Class B Units (see Note 15) converted 554,455 Class B Units in exchange for 410,627 common shares.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES In the normal course of business we, and our subsidiaries, may be involved in various claims, legal proceedings, or may enter into contracts that contain a variety of representations and warranties and which provide general indemnifications. Within our offshore energy business, a lessee did not fulfill their obligation under their charter arrangement, therefore we are pursuing rights afforded to us under the charter and the range of potential losses against the obligation is $0.0 million to $3.3 million . Our maximum exposure under other arrangements is unknown as no additional claims have been made. We believe the risk of loss in connection with such arrangements is remote. We have also entered into an arrangement with our non-controlling interest holder of Repauno, whereby the non-controlling interest holder may receive additional payments contingent upon the achievement of certain conditions, not to exceed $15.0 million . We will account for such amounts when and if such conditions are achieved. We have entered into an arrangement with the seller of Long Ridge, whereby the seller may receive additional payments contingent upon the achievement of certain conditions, not to exceed $5.0 million . We will account for such amounts when and if such conditions are achieved.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Mar. 31, 2019
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS On May 2, 2019 our Board of Directors declared a cash dividend on our common shares and eligible participating securities of $0.33 per share for the quarter ended March 31, 2019 , payable on May 28, 2019 to the holders of record on May 17, 2019. In April 2019, certain holders of Class B Units converted 261,735 Class B Units in exchange for 193,841 common shares. In April 2019, we exercised our option to purchase an additional 8% economic interest from non-controlling interest holders in Repauno for $ 4.5 million .

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Basis of Accounting	Basis of Accounting — The accompanying consolidated financial statements are prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) and include the accounts of us and our subsidiaries.
Principles of Consolidation	Principles of Consolidation — We consolidate all entities in which we have a controlling financial interest and control over significant operating decisions, as well as variable interest entities (“VIEs”) in which we are the primary beneficiary. All significant intercompany transactions and balances have been eliminated. All adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. The ownership interest of other investors in consolidated subsidiaries is recorded as non-controlling interest. We use the equity method of accounting for investments in entities in which we exercise significant influence but which do not meet the requirements for consolidation. Under the equity method, we record our proportionate share of the underlying net income (loss) of these entities.
Use of Estimates	Use of Estimates — The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Risks and Uncertainties	Risks and Uncertainties — In the normal course of business, we encounter several significant types of economic risk including credit, market, and capital market risks. Credit risk is the risk of the inability or unwillingness of a lessee, customer, or derivative counterparty to make contractually required payments or to fulfill its other contractual obligations. Market risk reflects the risk of a downturn or volatility in the underlying industry segments in which we operate, which could adversely impact the pricing of the services offered by us or a lessee’s or customer’s ability to make payments, increase the risk of unscheduled lease terminations and depress lease rates and the value of our leasing equipment or operating assets. Capital market risk is the risk that we are unable to obtain capital at reasonable rates to fund the growth of our business or to refinance existing debt facilities. We, through our subsidiaries, also conduct operations outside of the United States; such international operations are subject to the same risks as those associated with our United States operations as well as additional risks, including unexpected changes in regulatory requirements, heightened risk of political and economic instability, potentially adverse tax consequences and the burden of complying with foreign laws. We do not have significant exposure to foreign currency risk as all of our leasing arrangements and the majority of terminal services revenue and freight rail revenue are denominated in U.S. dollars.
Variable Interest Entities	Variable Interest Entities — The assessment of whether an entity is a VIE and the determination of whether to consolidate a VIE requires judgment. VIEs are defined as entities in which equity investors do not have the characteristics of a controlling financial interest or do not have sufficient equity at risk for the entity to finance its activities without additional subordinated financial support from other parties. A VIE is required to be consolidated by its primary beneficiary, and only by its primary beneficiary, which is defined as the party who has the power to direct the activities of a VIE that most significantly impact its economic performance and who has the obligation to absorb losses or the right to receive benefits from the VIE that could potentially be significant to the VIE.
Cash and Cash Equivalents	Cash and Cash Equivalents — We consider all highly liquid short-term investments with a maturity of 90 days or less when purchased to be cash equivalents.
Deferred Financing Costs	Deferred Financing Costs — Costs incurred in connection with obtaining long term financing are capitalized and amortized to interest expense over the term of the underlying loans.
Leases	Leasing Arrangements — At contract inception, we evaluate whether an arrangement is or contains a lease for which we are the lessee (that is, arrangements which provide us with the right to control a physical asset for a period of time). Operating lease right-of-use (“ROU”) assets and lease liabilities are recognized in Operating lease right-of-use assets, net and Operating lease liabilities in our Consolidated Balance Sheets, respectively. Finance lease ROU assets are recognized in Property, plant and equipment, net and lease liabilities are recognized in Other liabilities in our Consolidated Balance Sheets. All lease liabilities are measured at the present value of the unpaid lease payments, discounted using our incremental borrowing rate based on the information available at commencement date of the lease. ROU assets , for both operating and finance leases , are initially measured based on the lease liability, adjusted for prepaid rent and lease incentives. ROU assets are subsequently measured at the carrying amount of the lease liability adjusted for prepaid or accrued lease payments and lease incentives. The finance lease ROU assets are subsequently amortized using the straight-line method. Operating lease expenses are recognized on a straight-line basis over the lease term. With respect to finance leases, amortization of the ROU asset is presented separately from interest expense related to the finance lease liability. Variable lease payments, which are primarily based on usage, are recognized when the associated activity occurs. We have elected to combine lease and non-lease components for all lease contracts where we are the lessee. Additionally, for arrangements with lease terms of 12 months or less, we do not recognize ROU assets, and lease liabilities and lease payments are recognized on a straight-line basis over the lease term with variable lease payments recognized in the period in which the obligation is incurred . Operating Leases —We lease equipment pursuant to net operating leases. Operating leases with fixed rentals and step rentals are recognized on a straight-line basis over the term of the lease, assuming no renewals. Revenue is not recognized when collection is not reasonably assured. When collectability is not reasonably assured, the customer is placed on non-accrual status and revenue is recognized when cash payments are received. Generally, under our aircraft lease and engine agreements, the lessee is required to make periodic maintenance payments calculated based on the lessee’s utilization of the leased asset or at the end of the lease. Typically, under our aircraft lease agreements, the lessee is responsible for maintenance, repairs and other operating expenses throughout the term of the lease. These periodic maintenance payments accumulate over the term of the lease to fund major maintenance events, and we are contractually obligated to return maintenance payments to the lessee up to the amount paid by the lessee. In the event the total cost of maintenance events over the term of a lease is less than the cumulative maintenance payments, we are not required to return any unused or excess maintenance payments to the lessee. Maintenance payments received for which we expect to repay to the lessee are presented as Maintenance Deposits in our Consolidated Balance Sheets. All excess maintenance payments received that we do not expect to repay to the lessee are recorded as Maintenance revenues. Finance Leases —From time to time we enter into finance lease arrangements that include a lessee obligation to purchase the leased equipment at the end of the lease term, a bargain purchase option, or provides for minimum lease payments with a present value of 90% or more of the fair value of the leased equipment at the date of lease inception. Net investment in finance lease represents the minimum lease payments due from lessee, net of unearned income. The lease payments are segregated into principal and interest components similar to a loan. Unearned income is recognized on an effective interest method over the lease term and is recorded as finance lease income. The principal component of the lease payment is reflected as a reduction to the net investment in finance leases. Revenue is not recognized when collection is not reasonably assured. When collectability is not reasonably assured, the customer is placed on non-accrual status and revenue is recognized when cash payments are received.
Revenue Recognition	Infrastructure Revenues Rail Revenues —Rail revenues generally consist of the following performance obligations: freight movement, demurrage, unloading and switching. Freight movement revenues are recognized proportionally based on distance as freight is transported from origin to destination. Accordingly, freight movement revenue is recognized over time with progress measured based on distance transpired, i.e., as the services are rendered and the customer simultaneously receives and consumes the benefit over time. Demurrage, unloading and switching are recognized in other miscellaneous rail revenues, for which demurrage progress is measured over time, and unloading and switching revenues are measured at a point in time as the service is rendered. Terminal Services Revenues —Terminal services are provided to customers for the receipt and redelivery of various commodities. These revenues are recognized over time, i.e., as the services are rendered and the customer simultaneously receives and consumes the benefit over time. Lease Income —Lease income consists of rental income from tenants for storage space. Lease income is recognized on a straight-line basis over the term s of the relevant lease agreement. Crude Marketing Revenues —Crude marketing revenues consists of marketing revenue related to Canadian crude oil. The revenues are recognized over time, i.e., as the services are rendered and the customer simultaneously receives and consumes the benefit over time. Other Revenue —Other revenue primarily consists of revenue related to the handling, storage and sale of raw materials. Other revenue consists of two performance obligations: handling and storage of raw materials. The revenues are recognized over time, i.e., as the services are rendered and the customer simultaneously receives and consumes the benefit over time.
Concentration of Credit Risk	Concentration of Credit Risk — We are subject to concentrations of credit risk with respect to amounts due from customers on our finance leases and operating leases. We attempt to limit our credit risk by performing ongoing credit evaluations. During the three months ended March 31, 2019 , one customer in the Jefferson Terminal segment accounted for approximately 22% of total revenue. There were no customers with a revenue concentration over 10% of total revenue during the three months ended March 31, 2018. As of March 31, 2019 , accounts receivable from one customer in the Jefferson Terminal segment represented 13% of total accounts receivable, net. As of December 31, 2018 , accounts receivable from two customers in the Jefferson Terminal segment each represented 17% and 15% of total accounts receivable, net. We maintain cash and restricted cash balances, which generally exceed federally insured limits, and subject us to credit risk, in high credit quality financial institutions. We monitor the financial condition of these institutions and have not experienced any losses associated with these accounts.
Provision for Doubtful Accounts	Provision for Doubtful Accounts — We determine the provision for doubtful accounts based on our assessment of the collectability of our receivables on a customer-by-customer basis.
Comprehensive Income (Loss)	Comprehensive Income (Loss) — Comprehensive income (loss) is defined as the change in equity of a business enterprise during a period from transactions and other events and circumstances, excluding those resulting from investments by and distributions to owners. Our comprehensive income (loss) represents net income (loss), as presented in the Consolidated Statements of Operations, adjusted for fair value changes related to derivatives accounted for as cash flow hedges.
Accounting Pronouncements	Recent Accounting Pronouncements — In February 2016, the FASB issued Accounting Standards Update (“ASU”) 2016-02, Leases (and subsequently issued ASU 2018-01, ASU 2018-10, ASU 2018-11, ASU 2018-20 and ASU 2019-01, collectively, “ASU 2016-02”). ASU 2016-02 amends the existing accounting standards for lease accounting, including requiring lessees to recognize most leases on their balance sheets and making targeted changes to lessor accounting. On January 1, 2019, we adopted ASU 2016-02 using the modified retrospective approach. We utilized the effective date transition method and accordingly are not required to adjust our comparative period financial information for effects of ASU 2016-02. We have elected to adopt the ‘package of practical expedients’ which permits us not to reassess under the new standard our prior conclusions about lease identification (including land easements), lease classification and initial direct costs. The adoption of ASU 2016-02 resulted in the recognition of ROU assets and lease liabilities of approximately $ 46 million in our Consolidated Balance Sheets as of January 1, 2019. In August 2017, the FASB issued ASU 2017-12, Derivatives and Hedging: Targeted Improvements to Accounting for Hedging Activities , which improves the financial reporting of hedging relationships to better represent the economic results of an entity’s risk management activities in its financial statements and make certain improvements to simplify the application of the hedge accounting guidance. The amendments will make more financial and nonfinancial hedging strategies eligible for hedge accounting, amend the presentation and disclosure requirements and change how entities assess effectiveness. Entities are required to apply the amendments as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period after adoption. On January 1, 2019, we adopted this standard and it did not have an impact on our consolidated financial statements as we did not have any hedging relationships prior to adoption. In June 2018, the FASB, issued ASU 2018-07, Improvements to Nonemployee Share-Based Payment Accounting to simplify the accounting for share-based payments to nonemployees by aligning it with the accounting for share-based payments to employees, with certain exceptions. The new guidance expands the scope of Accounting Standards Codification (“ASC”) 718 to include share-based payments granted to nonemployees in exchange for goods or services used or consumed in an entity’s own operations and supersedes the guidance in ASC 505-50. On January 1, 2019, we adopted this standard and it did not have an impact on our consolidated financial statements. Unadopted Accounting Pronouncements — In January 2017, the FASB issued ASU 2017-04, Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment (“ASU 2017-04”). ASU 2017-04 addresses concerns over the cost and complexity of the two-step goodwill impairment test by removing the second step of the test. An entity will apply a one-step quantitative test and record the amount of goodwill impairment as the excess of a reporting unit's carrying amount over its fair value, not to exceed the total amount of goodwill allocated to the reporting unit. The new guidance does not amend the optional qualitative assessment of goodwill impairment. ASU 2017-01 will be effective for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. We are currently evaluating the impact of adopting this new guidance on our consolidated financial statements. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement . This ASU eliminates, adds and modifies certain disclosure requirements for fair value measurements as part of its disclosure framework project. The guidance is effective for all entities in fiscal years beginning after December 15, 2019, and interim periods within those fiscal years, and early adoption is permitted. We are currently evaluating the impact of adopting this new guidance on our consolidated financial statements.
Fair Value Measurement	Fair value measurements and disclosures require the use of valuation techniques to measure fair value that maximize the use of observable inputs and minimize use of unobservable inputs. These inputs are prioritized as follows: • Level 1: Observable inputs such as quoted prices in active markets for identical assets or liabilities. • Level 2: Inputs other than quoted prices included within Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities or market corroborated inputs. • Level 3: Unobservable inputs for which there is little or no market data and which require us to develop our own assumptions about how market participants price the asset or liability. The valuation techniques that may be used to measure fair value are as follows: • Market approach—Uses prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities. • Income approach—Uses valuation techniques to convert future amounts to a single present amount based on current market expectations about those future amounts. • Cost approach—Based on the amount that currently would be required to replace the service capacity of an asset (replacement cost).

LEASING EQUIPMENT, NET (Tables)

LEASING EQUIPMENT, NET (Tables)	3 Months Ended
	Mar. 31, 2019
Leases [Abstract]
Summary of Leasing Equipment	Leasing equipment, net is summarized as follows: March 31, 2019 December 31, 2018 Leasing equipment $ 1,727,864 $ 1,672,156 Less: accumulated depreciation (256,070 ) (239,946 ) Leasing equipment, net $ 1,471,794 $ 1,432,210
Schedule of Capital Leased Assets	Depreciation expense for leasing equipment is summarized as follows: Three Months Ended March 31, 2019 2018 Depreciation expense for leasing equipment $ 31,896 $ 23,691

FINANCE LEASES, NET (Tables)

FINANCE LEASES, NET (Tables)	3 Months Ended
	Mar. 31, 2019
Leases [Abstract]
Schedule of Finance Leases	Finance leases, net are summarized as follows: March 31, 2019 December 31, 2018 Finance leases $ 30,299 $ 28,476 Unearned revenue (9,141 ) (9,853 ) Finance leases, net $ 21,158 $ 18,623

PROPERTY, PLANT AND EQUIPMENT_2

PROPERTY, PLANT AND EQUIPMENT, NET (Tables)	3 Months Ended
	Mar. 31, 2019
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property, plant and equipment, net is summarized as follows: March 31, 2019 December 31, 2018 Land, site improvements and rights $ 75,046 $ 75,028 Construction in progress (1) 309,366 253,239 Buildings and improvements 14,597 14,514 Terminal machinery and equipment 376,814 349,227 Proved oil and gas properties 22,305 20,099 Track and track related assets 42,358 42,349 Railroad equipment 5,754 5,383 Railcars and locomotives 4,592 4,513 Computer hardware and software 3,806 3,806 Furniture and fixtures 599 572 Vehicles 1,691 1,636 856,928 770,366 Less: accumulated depreciation (69,779 ) (63,032 ) Spare parts 1,519 1,519 Property, plant and equipment, net $ 788,668 $ 708,853 ________________________________________________________ (1) Includes unproved oil and gas properties of $ 60,320 and $ 59,930 as of March 31, 2019 and December 31, 2018 , respectively. Depreciation expense for property, plant and equipment is summarized as follows: Three Months Ended March 31, 2019 2018 Depreciation expense for property, plant and equipment $ 6,737 $ 4,996

INVESTMENTS (Tables)

INVESTMENTS (Tables)	3 Months Ended
	Mar. 31, 2019
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments	The following table presents our proportionate share of equity in income (losses): Three Months Ended March 31, 2019 2018 Advanced Engine Repair JV $ (201 ) $ (224 ) JGP Energy Partners LLC (220 ) 148 Intermodal Finance I, Ltd. 37 171 Total $ (384 ) $ 95 The following table presents the ownership interests and carrying values of our investments: Carrying Value Investment Ownership Percentage March 31, 2019 December 31, 2018 Advanced Engine Repair JV Equity method 25% $ 12,780 $ 12,981 JGP Energy Partners LLC Equity method 50% 25,241 25,461 Intermodal Finance I, Ltd. Equity method 51% 1,757 2,118 Investments $ 39,778 $ 40,560

INTANGIBLE ASSETS AND LIABILI_2

INTANGIBLE ASSETS AND LIABILITIES, NET (Tables)	3 Months Ended
	Mar. 31, 2019
Intangible Assets and Liabilities Disclosure [Abstract]
Schedule of Finite-Lived Intangible Assets and Liabilities	ntangible assets and liabilities, net are summarized as follows: March 31, 2019 Aviation Leasing Jefferson Terminal Railroad Total Intangible assets Acquired favorable lease intangibles $ 48,731 $ — $ — $ 48,731 Less: Accumulated amortization (32,378 ) — — (32,378 ) Acquired favorable lease intangibles, net 16,353 — — 16,353 Customer relationships — 35,513 225 35,738 Less: Accumulated amortization — (16,266 ) (221 ) (16,487 ) Acquired customer relationships, net — 19,247 4 19,251 Total intangible assets, net $ 16,353 $ 19,247 $ 4 $ 35,604 Intangible liabilities Acquired unfavorable lease intangibles $ 3,736 $ — $ — $ 3,736 Less: Accumulated amortization (2,249 ) — — (2,249 ) Acquired unfavorable lease intangibles, net $ 1,487 $ — $ — $ 1,487 December 31, 2018 Aviation Leasing Jefferson Terminal Railroad Total Intangible assets Acquired favorable lease intangibles $ 48,143 $ — $ — $ 48,143 Less: Accumulated amortization (29,780 ) — — (29,780 ) Acquired favorable lease intangibles, net 18,363 — — 18,363 Customer relationships — 35,513 225 35,738 Less: Accumulated amortization — (15,378 ) (210 ) (15,588 ) Acquired customer relationships, net — 20,135 15 20,150 Total intangible assets, net $ 18,363 $ 20,135 $ 15 $ 38,513 Intangible liabilities Acquired unfavorable lease intangibles $ 3,736 $ — $ — $ 3,736 Less: Accumulated amortization (2,114 ) — — (2,114 ) Acquired unfavorable lease intangibles, net $ 1,622 $ — $ — $ 1,622
Schedule of Intangible Assets and Liabilities	Amortization of intangible assets and liabilities is as follows: Classification in Consolidated Statements of Operations Three Months Ended March 31, 2019 2018 Lease intangibles Equipment leasing revenues $ 2,462 $ 1,992 Customer relationships Depreciation and amortization 900 900 Total $ 3,362 $ 2,892
Schedule of Net Annual Amortization of Intangibles	As of March 31, 2019 , estimated net annual amortization of intangibles is as follows: 2019 $ 8,463 2020 8,759 2021 5,317 2022 5,600 2023 3,600 Thereafter 2,378 Total $ 34,117

DEBT, NET (Tables)

DEBT, NET (Tables)	3 Months Ended
	Mar. 31, 2019
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	Our debt, net is summarized as follows: March 31, 2019 December 31, 2018 Outstanding Borrowings Stated Interest Rate Maturity Date Outstanding Borrowings Loans payable FTAI Pride Credit Agreement (1) $ 46,181 LIBOR + 4.50% 9/15/2019 $ 47,743 CMQR Credit Agreement 22,540 (i) Adjusted LIBOR + 2.50% or 4.50%; or (ii) U.S. or Canadian Base Rate + 1.50% or 3.50%; or (iii) Canadian Fixed Rate + 2.50% or 4.50% 9/18/2019 22,265 Revolving Credit Facility (2) 165,000 (i) Base Rate + 2.00%; or (ii) Adjusted Eurodollar Rate + 3.00% 1/31/2022 100,000 Jefferson Revolver (2) 63,000 (i) Base Rate + 1.50%; or (ii) Base Rate + 2.50% (Eurodollar) 3/7/2021 49,805 DRP Revolver (3) 9,300 (i) Base Rate + 1.50%; or (ii) Base Rate + 2.50% (Eurodollar) 11/5/2021 — LREG Credit Agreement (4) 71,500 First Lien Credit Agreement: 7.30% LC Facility: Base Rate + 2.50% to 3.50% Second Lien Credit Agreement: 7.50% 2/15/2022 to 6/30/2028 — Total loans payable 377,521 219,813 Bonds payable Series 2012 Bonds (5) 42,781 8.25% 7/1/2032 42,797 Series 2016 Bonds (6) 144,200 7.25% 2/1/2036 144,200 Senior Notes due 2022 (7) 697,265 6.75% 3/15/2022 549,405 Senior Notes due 2025 (8) 295,770 6.50% 10/1/2025 295,642 Total bonds payable 1,180,016 1,032,044 Debt 1,557,537 1,251,857 Less: Debt issuance costs (17,520 ) (14,510 ) Total debt, net $ 1,540,017 $ 1,237,347 Total debt due within one year $ 227,591 $ 71,678 ________________________________________________________ (1) Secured on a first priority basis by the offshore vessel. (2) Requires a quarterly commitment fee at a rate of 0.50% on the average daily unused portion, as well as customary letter of credit fees and agency fees. (3) Requires a quarterly commitment fee at a rate of 0.875% on the average daily unused portion, as well as customary letter of credit fees and agency fees. (4) Requires a quarterly commitment fee on the average daily unused portion at a rate of 1.50% for the First Lien Credit Agreement and LC Facility and 1.00% for the Second Lien Credit Agreement, as well as customary letter of credit fees and agency fees. (5) Includes unamortized premium of $ 1,561 and $1,577 at March 31, 2019 and December 31, 2018 , respectively. (6) These bonds have a stated maturity of February 1, 2036 but are subject to mandatory tender for purchase at par, by our subsidiary, on February 13, 2020 if they have not been repurchased from proceeds of a remarketing of the bonds or redeemed prior to such date. (7) Includes unamortized discount of $ 6,972 and $5,154 at March 31, 2019 and December 31, 2018 , respectively, and an unamortized premium of $ 4,237 and $4,559 at March 31, 2019 and December 31, 2018 , respectively. (8) Includes unamortized discount of $ 4,230 and $4,358 at March 31, 2019 and December 31, 2018 , respectively.

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	3 Months Ended
	Mar. 31, 2019
Fair Value Disclosures [Abstract]
Fair Value, Assets Measured on Recurring Basis	The following tables set forth our financial assets measured at fair value on a recurring basis as of March 31, 2019 and December 31, 2018 , by level within the fair value hierarchy. Assets measured at fair value are classified in their entirety based on the lowest level of input that is significant to their fair value measurement. Fair Value as of Fair Value Measurements Using Fair Value Hierarchy as of March 31, 2019 March 31, 2019 Total Level 1 Level 2 Level 3 Valuation Technique Assets Cash and cash equivalents $ 120,515 $ 120,515 $ — $ — Market Restricted cash 108,058 108,058 — — Market Derivative assets 7,590 — — 7,590 Income Total assets $ 236,163 $ 228,573 $ — $ 7,590 Liabilities Derivative liabilities $ (47,277 ) $ — $ — $ (47,277 ) Income Total liabilities $ (47,277 ) $ — $ — $ (47,277 ) Fair Value as of Fair Value Measurements Using Fair Value Hierarchy as of December 31, 2018 December 31, 2018 Total Level 1 Level 2 Level 3 Valuation Technique Assets Cash and cash equivalents $ 99,601 $ 99,601 $ — $ — Market Restricted cash 21,236 21,236 — — Market Derivative assets 7,470 — — 7,470 Income Total $ 128,307 $ 120,837 $ — $ 7,470 Liabilities Derivative liabilities $ (925 ) $ — $ — $ (925 ) Income Total liabilities $ (925 ) $ — $ — $ (925 )
Fair Value, by Balance Sheet Grouping	The fair value of our bonds and notes payable reported as debt, net in the Consolidated Balance Sheets are presented in the table below: March 31, 2019 December 31, 2018 Series 2012 Bonds (1) $ 43,141 $ 42,633 Series 2016 Bonds (1) 148,683 149,582 Senior Notes due 2022 712,705 551,144 Senior Notes due 2025 296,235 283,965 ________________________________________________________ (1) Fair value is based upon market prices for similar municipal securities

DERIVATIVE FINANCIAL INSTRUME_2

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)	3 Months Ended
	Mar. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments	The following table presents information related to our outstanding derivative contracts: Notional Amount Fair Value of Assets (1) Fair Value of Liabilities (1) Term March 31, 2019 Derivatives Designated in Cash Flow Hedges: Electricity swaps $ 29,278 $ — $ (43,012 ) 7 to 10 years Non-hedge Derivative Instruments: Electricity swaps $ 4,207 $ — $ (2,370 ) 7 to 10 years Crude oil forwards 2,687 7,590 (1,895 ) 1 to 9 months December 31, 2018 Derivatives Designated in Cash Flow Hedges: Electricity swaps $ — $ — $ — N/A Non-hedge Derivative Instruments: Electricity swaps $ — $ — $ — N/A Crude oil forwards 3,225 7,470 (925 ) 1 to 12 months ________________________________________________________ (1) Included in Other assets and Other liabilities, respectively, in our Consolidated Balance Sheets.
Derivative Instruments, Gain (Loss)	The following table presents pretax gains and losses on our derivative contracts: Three Months Ended March 31, 2019 2018 Electricity Swaps: Losses recognized in other comprehensive loss before reclassifications $ (43,012 ) $ — Gains (losses) reclassified from accumulated other comprehensive income — — Losses recognized in earnings (2,370 ) — Crude Oil Forwards: (Losses) gains recognized in earnings $ (850 ) $ 624

REVENUES (Tables)

REVENUES (Tables)	3 Months Ended
	Mar. 31, 2019
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	We disaggregate our revenue from contracts with customers by products and services provided for each of our segments, as we believe it best depicts the nature, amount, timing and uncertainty of our revenue. Revenues attributed to our Equipment Leasing business unit are within the scope of ASC 840 prior to January 1, 2019 and ASC 842 after January 1, 2019, while revenues attributed to our Infrastructure business unit are within the scope of ASC 606, unless otherwise noted. Under the provisions of ASC 842, we have elected to exclude sales and other similar taxes from lease payments in arrangements where we are a lessor. Three Months Ended March 31, 2019 Equipment Leasing Infrastructure Aviation Leasing Jefferson Terminal Railroad Ports and Terminals Corporate and Other Total Equipment leasing revenues Lease income $ 47,303 $ — $ — $ — $ 1,933 $ 49,236 Maintenance revenue 21,777 — — — — 21,777 Finance lease income 826 — — — — 826 Other revenue 505 — — — 108 613 Total equipment leasing revenues 70,411 — — — 2,041 72,452 Infrastructure revenues Lease income — 308 — 355 — 663 Rail revenues — — 10,507 — — 10,507 Terminal services revenues — 4,867 — 1,818 — 6,685 Crude marketing revenues — 30,779 — — — 30,779 Other revenue — — — 3,541 — 3,541 Total infrastructure revenues — 35,954 10,507 5,714 — 52,175 Total revenues $ 70,411 $ 35,954 $ 10,507 $ 5,714 $ 2,041 $ 124,627 Three Months Ended March 31, 2018 Equipment Leasing Infrastructure Aviation Leasing Jefferson Terminal Railroad Ports and Terminals Corporate and Other Total Equipment leasing revenues Lease income $ 33,250 $ — $ — $ — $ 2,249 $ 35,499 Maintenance revenue 19,485 — — — — 19,485 Finance lease income — — — — 367 367 Other revenue — — — — 433 433 Total equipment leasing revenues 52,735 — — — 3,049 55,784 Infrastructure revenues Lease income — — — 382 — 382 Rail revenues — — 11,047 — — 11,047 Terminal services revenues — 1,253 — — — 1,253 Crude marketing revenues — — — — — — Other revenue — — — 378 — 378 Total infrastructure revenues — 1,253 11,047 760 — 13,060 Total revenues $ 52,735 $ 1,253 $ 11,047 $ 760 $ 3,049 $ 68,844
Finance Lease, Lease Income	Presented below are the contracted minimum future annual revenues to be received under existing operating and finance leases across several market sectors as of March 31, 2019 : Operating Leases Finance Leases (1) 2019 $ 135,843 $ 2,435 2020 123,572 1,386 2021 86,212 — 2022 52,696 — 2023 31,791 — Thereafter 19,466 — Total $ 449,580 $ 3,821 ________________________________________________________ (1) Excludes future revenues that are currently on nonaccrual status due to a recent casualty event on one of our vessels under a finance lease, for which we have insurance. In the case we may not collect future interest or principal, we expect that our insurance proceeds will exceed the current carrying value of this lease.
Operating Lease, Lease Income	Presented below are the contracted minimum future annual revenues to be received under existing operating and finance leases across several market sectors as of March 31, 2019 : Operating Leases Finance Leases (1) 2019 $ 135,843 $ 2,435 2020 123,572 1,386 2021 86,212 — 2022 52,696 — 2023 31,791 — Thereafter 19,466 — Total $ 449,580 $ 3,821 ________________________________________________________ (1) Excludes future revenues that are currently on nonaccrual status due to a recent casualty event on one of our vessels under a finance lease, for which we have insurance. In the case we may not collect future interest or principal, we expect that our insurance proceeds will exceed the current carrying value of this lease.

LEASES (Tables)

LEASES (Tables)	3 Months Ended
	Mar. 31, 2019
Leases [Abstract]
Lease, Cost	The following table presents lease related costs for the three months ended March 31, 2019 : Finance Leases Amortization of right-of-use assets $ 49 Interest on lease liabilities 30 Finance lease expense 79 Operating lease expense 2,529 Short-term lease expense 1,060 Variable lease expense 292 Total lease expense $ 3,960
Supplemental Information Related to Leases	The following table presents information related to our operating leases as of and for the three months ended March 31, 2019 : Right-of-use assets, net $ 44,241 Lease liabilities 44,719 Weighted average remaining lease term 35.1 years Weighted average incremental borrowing rate 7.0 % Cash paid for amounts included in the measurement of operating lease liabilities Operating cash flows $ 2,529
Lessee, Operating Lease, Liability, Maturity	The following table presents future minimum lease payments under non-cancellable operating leases as of March 31, 2019 : Remainder of 2019 $ 6,832 2020 5,549 2021 4,144 2022 3,502 2023 2,662 Thereafter 95,202 Total undiscounted lease payments 117,891 Less: Imputed interest 73,172 Total lease liabilities $ 44,719

EQUITY-BASED COMPENSATION (Tabl

EQUITY-BASED COMPENSATION (Tables)	3 Months Ended
	Mar. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Stock-based Compensation Arrangements	The Consolidated Statements of Operations includes the following expense related to our stock-based compensation arrangements: Three Months Ended March 31, Remaining Expense To Be Recognized, If All Vesting Conditions Are Met Weighted Average Remaining Contractual Term, (in years) 2019 2018 Stock Options $ — $ 9 $ — 8.9 Restricted Shares 90 90 552 0.9 Common Units 138 109 636 0.8 Total $ 228 $ 208 $ 1,188

INCOME TAXES (Tables)

INCOME TAXES (Tables)	3 Months Ended
	Mar. 31, 2019
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense	The current and deferred components of the income tax provision included in the Consolidated Statements of Operations are as follows: Three Months Ended March 31, 2019 2018 Current: Federal $ 19 $ 129 State and local 65 19 Foreign 52 17 Total current provision 136 165 Deferred: Federal 103 288 State and local 29 42 Foreign 185 — Total deferred provision 317 330 Total provision for income taxes $ 453 $ 495

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	3 Months Ended
	Mar. 31, 2019
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The following tables set forth certain information for each reportable segment: I. For the Three Months Ended March 31, 2019 Three Months Ended March 31, 2019 Equipment Leasing Infrastructure Aviation Leasing Jefferson Terminal Railroad Ports and Terminals Corporate and Other Total Revenues Equipment leasing revenues $ 70,411 $ — $ — $ — $ 2,041 $ 72,452 Infrastructure revenues — 35,954 10,507 5,714 — 52,175 Total revenues 70,411 35,954 10,507 5,714 2,041 124,627 Expenses Operating expenses 6,078 39,241 9,266 4,902 2,431 61,918 General and administrative — — — — 4,732 4,732 Acquisition and transaction expenses 13 — — — 1,461 1,474 Management fees and incentive allocation to affiliate — — — — 3,838 3,838 Depreciation and amortization 30,005 5,156 765 1,993 1,614 39,533 Interest expense — 3,924 569 296 16,514 21,303 Total expenses 36,096 48,321 10,600 7,191 30,590 132,798 Other income (expense) Equity in (losses) earnings of unconsolidated entities (201 ) (220 ) — — 37 (384 ) Gain on sale of equipment, net 1,718 — 7 — — 1,725 Interest income 26 38 — 21 6 91 Other expense — (233 ) (1 ) (2,370 ) — (2,604 ) Total other income (expense) 1,543 (415 ) 6 (2,349 ) 43 (1,172 ) Income (loss) before income taxes 35,858 (12,782 ) (87 ) (3,826 ) (28,506 ) (9,343 ) Provision for income taxes 180 86 186 — 1 453 Net income (loss) 35,678 (12,868 ) (273 ) (3,826 ) (28,507 ) (9,796 ) Less: Net loss attributable to non-controlling interests in consolidated subsidiaries — (3,296 ) (56 ) (64 ) — (3,416 ) Net income (loss) attributable to shareholders $ 35,678 $ (9,572 ) $ (217 ) $ (3,762 ) $ (28,507 ) $ (6,380 ) Three Months Ended March 31, 2018 Equipment Leasing Infrastructure Aviation Leasing Jefferson Terminal Railroad Ports and Terminals Corporate and Other Total Revenues Equipment leasing revenues $ 52,735 $ — $ — $ — $ 3,049 $ 55,784 Infrastructure revenues — 1,253 11,047 760 — 13,060 Total revenues 52,735 1,253 11,047 760 3,049 68,844 Expenses Operating expenses 3,433 11,959 7,438 2,381 2,368 27,579 General and administrative — — — — 3,586 3,586 Acquisition and transaction expenses 157 — — — 1,609 1,766 Management fees and incentive allocation to affiliate — — — — 3,739 3,739 Depreciation and amortization 21,813 4,790 573 809 1,602 29,587 Interest expense — 3,528 345 272 7,726 11,871 Total expenses 25,403 20,277 8,356 3,462 20,630 78,128 Other income (expense) Equity in (losses) earnings of unconsolidated entities (224 ) 148 — — 171 95 (Loss) gain on sale of equipment, net (20 ) — 15 — — (5 ) Interest income 73 100 — — 3 176 Other income — 180 — — — 180 Total other (expense) income (171 ) 428 15 — 174 446 Income (loss) before income taxes 27,161 (18,596 ) 2,706 (2,702 ) (17,407 ) (8,838 ) Provision for (benefit from) income taxes 483 11 — (1 ) 2 495 Net income (loss) 26,678 (18,607 ) 2,706 (2,701 ) (17,409 ) (9,333 ) Less: Net income (loss) attributable to non-controlling interests in consolidated subsidiaries (24 ) (8,949 ) 206 6 — (8,761 ) Net income (loss) attributable to shareholders $ 26,702 $ (9,658 ) $ 2,500 $ (2,707 ) $ (17,409 ) $ (572 )
Reconciliation of Operating Profit (Loss) from Segments to Consolidated	The following table sets forth a reconciliation of Adjusted EBITDA to net loss attributable to shareholders: Three Months Ended March 31, 2019 Equipment Leasing Infrastructure Aviation Leasing Jefferson Terminal Railroad Ports and Terminals Corporate and Other Total Adjusted EBITDA $ 74,210 $ (1,290 ) $ 1,199 $ 926 $ (8,755 ) $ 66,290 Add: Non-controlling share of Adjusted EBITDA 2,303 Add: Equity in losses of unconsolidated entities (384 ) Less: Pro-rata share of Adjusted EBITDA from unconsolidated entities 118 Less: Interest expense (21,303 ) Less: Depreciation and amortization expense (47,867 ) Less: Incentive allocations (162 ) Less: Asset impairment charges — Less: Changes in fair value of non-hedge derivative instruments (3,220 ) Less: Losses on the modification or extinguishment of debt and capital lease obligations — Less: Acquisition and transaction expenses (1,474 ) Less: Equity-based compensation expense (228 ) Less: Provision for income taxes (453 ) Net loss attributable to shareholders $ (6,380 ) The following table sets forth a reconciliation of Adjusted EBITDA to net loss attributable to shareholders: Three Months Ended March 31, 2018 Equipment Leasing Infrastructure Aviation Leasing Jefferson Terminal Railroad Ports and Terminals Corporate and Other Total Adjusted EBITDA $ 56,210 $ (3,550 ) $ 3,406 $ (1,564 ) $ (6,381 ) $ 48,121 Add: Non-controlling share of Adjusted EBITDA 3,165 Add: Equity in earnings of unconsolidated entities 95 Less: Pro-rata share of Adjusted EBITDA from unconsolidated entities (175 ) Less: Interest expense (11,871 ) Less: Depreciation and amortization expense (36,814 ) Less: Incentive allocations — Less: Asset impairment charges — Less: Changes in fair value of non-hedge derivative instruments (624 ) Less: Losses on the modification or extinguishment of debt and capital lease obligations — Less: Acquisition and transaction expenses (1,766 ) Less: Equity-based compensation expense (208 ) Less: Provision for income taxes (495 ) Net loss attributable to shareholders $ (572 )
Revenue from External Customers by Geographic Areas	Summary information with respect to our geographic sources of revenue, based on location of customer, is as follows: Three Months Ended March 31, 2018 Equipment Leasing Infrastructure Aviation Leasing Jefferson Terminal Railroad Ports and Terminals Corporate and Other Total Revenues Africa $ 1,385 $ — $ — $ — $ — $ 1,385 Asia 9,209 — — — 2,683 11,892 Europe 34,918 — — — — 34,918 North America 7,133 1,253 11,047 760 366 20,559 South America 90 — — — — 90 Total $ 52,735 $ 1,253 $ 11,047 $ 760 $ 3,049 $ 68,844 Summary information with respect to our geographic sources of revenue, based on location of customer, is as follows: Three Months Ended March 31, 2019 Equipment Leasing Infrastructure Aviation Leasing Jefferson Terminal Railroad Ports and Terminals Corporate and Other Total Revenues Africa $ 3,477 $ — $ — $ — $ — $ 3,477 Asia 22,114 — — — 2,041 24,155 Europe 31,885 — — — — 31,885 North America 10,826 35,954 10,507 5,714 — 63,001 South America 2,109 — — — — 2,109 Total $ 70,411 $ 35,954 $ 10,507 $ 5,714 $ 2,041 $ 124,627
Reconciliation of Other Significant Reconciling Items from Segments to Consolidated	The following tables sets forth summarized balance sheet information and the geographic location of property, plant and equipment and leasing equipment, net as of March 31, 2019 and December 31, 2018 : March 31, 2019 Equipment Leasing Infrastructure Aviation Leasing Jefferson Terminal Railroad Ports and Terminals Corporate and Other Total Total assets $ 1,428,504 $ 717,611 $ 72,731 $ 445,035 $ 283,819 $ 2,947,700 Debt, net — 248,472 22,540 80,800 1,188,205 1,540,017 Total liabilities 239,836 321,624 45,640 156,468 1,211,078 1,974,646 Non-controlling interests in equity of consolidated subsidiaries — 48,851 3,248 572 524 53,195 Total equity 1,188,668 395,987 27,091 288,567 (927,259 ) 973,054 Total liabilities and equity $ 1,428,504 $ 717,611 $ 72,731 $ 445,035 $ 283,819 $ 2,947,700 December 31, 2018 Equipment Leasing Infrastructure Aviation Leasing Jefferson Terminal Railroad Ports and Terminals Corporate and Other Total Total assets $ 1,367,074 $ 670,682 $ 64,286 $ 277,160 $ 259,576 $ 2,638,778 Debt, net — 234,862 22,239 — 980,246 1,237,347 Total liabilities 234,449 288,256 37,207 16,615 1,008,469 1,584,996 Non-controlling interests in equity of consolidated subsidiaries — 52,058 3,258 544 523 56,383 Total equity 1,132,625 382,426 27,079 260,545 (748,893 ) 1,053,782 Total liabilities and equity $ 1,367,074 $ 670,682 $ 64,286 $ 277,160 $ 259,576 $ 2,638,778 December 31, 2018 Equipment Leasing Infrastructure Aviation Leasing Jefferson Terminal Railroad Ports and Terminals Corporate and Other Total Property, plant and equipment and leasing equipment, net Africa $ 47,353 $ — $ — $ — $ — $ 47,353 Asia 383,648 — — — 34,667 418,315 Europe 592,670 — — — 121,950 714,620 North America 177,962 433,404 51,157 263,747 — 926,270 South America 34,505 — — — — 34,505 Total $ 1,236,138 $ 433,404 $ 51,157 $ 263,747 $ 156,617 $ 2,141,063
Long-lived Assets by Geographic Areas	December 31, 2018 Equipment Leasing Infrastructure Aviation Leasing Jefferson Terminal Railroad Ports and Terminals Corporate and Other Total Property, plant and equipment and leasing equipment, net Africa $ 47,353 $ — $ — $ — $ — $ 47,353 Asia 383,648 — — — 34,667 418,315 Europe 592,670 — — — 121,950 714,620 North America 177,962 433,404 51,157 263,747 — 926,270 South America 34,505 — — — — 34,505 Total $ 1,236,138 $ 433,404 $ 51,157 $ 263,747 $ 156,617 $ 2,141,063 March 31, 2019 Equipment Leasing Infrastructure Aviation Leasing Jefferson Terminal Railroad Ports and Terminals Corporate and Other Total Property, plant and equipment and leasing equipment, net Africa $ 46,339 $ — $ — $ — $ — $ 46,339 Asia 419,489 — — — 34,858 454,347 Europe 579,317 — — — — 579,317 North America 198,182 455,525 51,050 321,271 120,731 1,146,759 South America 33,700 — — — — 33,700 Total $ 1,277,027 $ 455,525 $ 51,050 $ 321,271 $ 155,589 $ 2,260,462

EARNINGS PER SHARE AND EQUITY (

EARNINGS PER SHARE AND EQUITY (Tables)	3 Months Ended
	Mar. 31, 2019
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The calculation of basic and diluted EPS is presented below: Three Months Ended March 31, (in thousands, except share and per share data) 2019 2018 Net loss attributable to shareholders $ (6,380 ) $ (572 ) Weighted Average Shares Outstanding - Basic (1) 85,986,453 81,534,454 Weighted Average Shares Outstanding - Diluted (1) 85,986,453 81,534,454 Basic EPS $ (0.07 ) $ (0.01 ) Diluted EPS $ (0.07 ) $ (0.01 ) ________________________________________________________ (1) The three months ended March 31, 2019 includes 1.5 million equivalent participating securities which can be converted into a fixed amount of our shares.

ORGANIZATION (Details)

ORGANIZATION (Details)	3 Months Ended
	Mar. 31, 2019segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments	4
Number of primary businesses	2

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) $ / shares in Units, $ in Thousands	3 Months Ended			12 Months Ended
	Mar. 31, 2019USD ($)customer$ / shares	Mar. 31, 2018USD ($)	Sep. 30, 2016USD ($)	Dec. 31, 2017customer	Jan. 01, 2019USD ($)	Dec. 31, 2018USD ($)	Jun. 16, 2017	Jul. 01, 2016
Accounting Policies [Line Items]
Inventory	$ 11,000					$ 10,400
Debt issuance cost	(17,520)					(14,510)
Amortization of deferred financing costs	2,025	$ 1,151
Concentration risk, number of customers | customer				2
Provision for doubtful accounts	1,200					1,100
Bad debt expense	2,950	$ 1,441
Debt fees	$ 25,600					2,400
Common stock dividends declared (in dollars per share) | $ / shares	$ 0.33
Operating lease right-of-use assets, net	$ 44,241				$ 46,000	0
Other Assets
Accounting Policies [Line Items]
Inventory	11,000					10,400
Leasing equipment, purchase deposits	7,100					10,200
Capitalized costs, potential asset acquisitions	57,700					51,000
Prepaid expense	12,900					8,200
Derivative assets	$ 7,600					$ 7,500
Jefferson Terminal
Accounting Policies [Line Items]
Concentration risk, number of customers | customer	1
Customer Group Two | Customer Concentration Risk | Sales Revenue, Segment
Accounting Policies [Line Items]
Concentration risk	22.10%
Major Accounts Receivable Customer, Customer One | Customer Concentration Risk | Accounts Receivable
Accounting Policies [Line Items]
Concentration risk	13.00%			17.00%
Major Accounts Receivable Customer, Customer Two | Customer Concentration Risk | Accounts Receivable
Accounting Policies [Line Items]
Concentration risk				15.00%
Variable Interest Entity, Primary Beneficiary | Delaware River Partners LLC
Accounting Policies [Line Items]
Ownership percentage								90.00%
Variable Interest Entity, Primary Beneficiary | Ohio River Partners
Accounting Policies [Line Items]
Ownership percentage							100.00%
JGP Energy Partners LLC
Accounting Policies [Line Items]
Interest held in VIE, as a percentage			50.00%
Ownership of other party, percentage			50.00%
Equity method investment contribution amount			$ 54,000
Ownership percentage	50.00%			50.00%
JGP Energy Partners LLC | FIG
Accounting Policies [Line Items]
Equity method investment contribution amount			$ 27,000

LEASING EQUIPMENT, NET (Details

LEASING EQUIPMENT, NET (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)aircraftcommercial_jet_engine	Mar. 31, 2018USD ($)	Dec. 31, 2018USD ($)
Leases [Abstract]
Leasing equipment	$ 1,727,864		$ 1,672,156
Less: accumulated depreciation	(256,070)		(239,946)
Leasing equipment, net	$ 1,471,794		$ 1,432,210
Number of aircraft acquired | aircraft	5
Commercial jet engines acquired | commercial_jet_engine	8
Commercial engines sold | commercial_jet_engine	9
Depreciation expense for leasing equipment	$ 31,896	$ 23,691

FINANCE LEASES, NET - Summary (

FINANCE LEASES, NET - Summary (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Leases [Abstract]
Finance leases	$ 30,299	$ 28,476
Unearned revenue	(9,141)	(9,853)
Finance leases, net	$ 21,158	$ 18,623
Finance lease, term of contract	1 year

PROPERTY, PLANT AND EQUIPMENT_3

PROPERTY, PLANT AND EQUIPMENT, NET (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 856,928	$ 770,366
Less: accumulated depreciation	(69,779)	(63,032)
Property, plant and equipment, net	788,668	708,853
Unproved oil and gas property	60,320	59,930
Land, site improvements and rights
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	75,046	75,028
Construction in progress (1)
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	309,366	253,239
Buildings and improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	14,597	14,514
Terminal machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	376,814	349,227
Proved oil and gas properties
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	22,305	20,099
Track and track related assets
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	42,358	42,349
Railroad equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	5,754	5,383
Railcars and locomotives
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	4,592	4,513
Computer hardware and software
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	3,806	3,806
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	599	572
Vehicles
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	1,691	1,636
Spare parts
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 1,519	$ 1,519

PROPERTY, PLANT AND EQUIPMENT_4

PROPERTY, PLANT AND EQUIPMENT, NET - Narrative (Details)	Feb. 15, 2019USD ($)$ / MWMW	Mar. 31, 2019USD ($)
Property, Plant and Equipment [Line Items]
Property, plant and equipment acquired		$ 86,600,000
Fixed power price agreement | MW	457
Weighted average fixed price | $ / MW	27.30
Kiewit Power Constructors Co
Property, Plant and Equipment [Line Items]
Power plant mega watts | MW	485
Contractual obligation	$ 430,000,000
Construction Loan And Term Loan
Property, Plant and Equipment [Line Items]
Line of credit, maximum borrowing capacity	445,000,000
Letter of Credit
Property, Plant and Equipment [Line Items]
Line of credit, maximum borrowing capacity	154,000,000
Second Lien Construction Loans
Property, Plant and Equipment [Line Items]
Line of credit, maximum borrowing capacity	$ 143,000,000
Power Price Cache One
Property, Plant and Equipment [Line Items]
Fixed power price agreement | MW	207
Term of price agreement portion	10 years
Power Price Cache Two
Property, Plant and Equipment [Line Items]
Fixed power price agreement | MW	250
Term of price agreement portion	7 years

PROPERTY, PLANT AND EQUIPMENT_5

PROPERTY, PLANT AND EQUIPMENT, NET - Depreciation (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Property, Plant and Equipment [Abstract]
Depreciation expense for property, plant and equipment	$ 6,737	$ 4,996

INVESTMENTS - Ownership Carryin

INVESTMENTS - Ownership Carrying Values (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Schedule of Equity Method Investments [Line Items]
Carrying Value	$ 39,778	$ 40,560
Advanced Engine Repair JV
Schedule of Equity Method Investments [Line Items]
Ownership Percentage	25.00%		25.00%
Carrying Value	$ 12,780	12,981	$ 15,000
JGP Energy Partners LLC
Schedule of Equity Method Investments [Line Items]
Ownership Percentage	50.00%		50.00%
Carrying Value	$ 25,241	25,461
Intermodal Finance I, Ltd.
Schedule of Equity Method Investments [Line Items]
Ownership Percentage	51.00%
Carrying Value	$ 1,757	$ 2,118

INVESTMENTS - Earnings (Loss) (

INVESTMENTS - Earnings (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Schedule of Equity Method Investments [Line Items]
Earnings (loss)	$ (384)	$ 95
Advanced Engine Repair JV
Schedule of Equity Method Investments [Line Items]
Earnings (loss)	(201)	(224)
JGP Energy Partners LLC
Schedule of Equity Method Investments [Line Items]
Earnings (loss)	(220)	148
Intermodal Finance I, Ltd.
Schedule of Equity Method Investments [Line Items]
Earnings (loss)	$ 37	$ 171

INVESTMENTS - Narrative (Detail

INVESTMENTS - Narrative (Details) shipping_container in Thousands, $ in Thousands	Mar. 31, 2019USD ($)shipping_containercustomer	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2013
Schedule of Equity Method Investments [Line Items]
Carrying value	$ 39,778	$ 40,560
Advanced Engine Repair JV
Schedule of Equity Method Investments [Line Items]
Carrying value	$ 12,780	12,981	$ 15,000
Ownership percentage	25.00%		25.00%
JGP Energy Partners LLC
Schedule of Equity Method Investments [Line Items]
Carrying value	$ 25,241	25,461
Ownership percentage	50.00%		50.00%
Intermodal Finance I, Ltd.
Schedule of Equity Method Investments [Line Items]
Carrying value	$ 1,757	$ 2,118
Ownership percentage	51.00%
Number of customers | customer	1
Containers | Intermodal Finance I, Ltd.
Schedule of Equity Method Investments [Line Items]
Number of shipping containers | shipping_container	3
Shipping Containers Subject to Multiple Operating Leases | Containers | Intermodal Finance I, Ltd.
Schedule of Equity Method Investments [Line Items]
Shipping containers subject to multiple operating leases | shipping_container	5
FIG | Intermodal Finance I, Ltd.
Schedule of Equity Method Investments [Line Items]
Ownership percentage				51.00%
Equity Investor | Intermodal Finance I, Ltd.
Schedule of Equity Method Investments [Line Items]
Ownership percentage				49.00%

INTANGIBLE ASSETS AND LIABILI_3

INTANGIBLE ASSETS AND LIABILITIES, NET - Summarized Intangible Assets and Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Intangible assets:
Total intangible assets, net	$ 35,604	$ 38,513
Intangible liabilities:
Acquired unfavorable lease intangibles	3,736	3,736
Less: Accumulated amortization	(2,249)	(2,114)
Acquired unfavorable lease intangibles, net	1,487	1,622
Off-Market Favorable Lease
Intangible assets:
Acquired finite-lived intangibles	48,731	48,143
Accumulated amortization	(32,378)	(29,780)
Total	16,353	18,363
Customer relationships
Intangible assets:
Acquired finite-lived intangibles	35,738	35,738
Accumulated amortization	(16,487)	(15,588)
Total	19,251	20,150
Operating Segments | Aviation Leasing
Intangible assets:
Total intangible assets, net	16,353	18,363
Intangible liabilities:
Acquired unfavorable lease intangibles	3,736	3,736
Less: Accumulated amortization	(2,249)	(2,114)
Acquired unfavorable lease intangibles, net	1,487	1,622
Operating Segments | Aviation Leasing | Off-Market Favorable Lease
Intangible assets:
Acquired finite-lived intangibles	48,731	48,143
Accumulated amortization	(32,378)	(29,780)
Total	16,353	18,363
Operating Segments | Aviation Leasing | Customer relationships
Intangible assets:
Acquired finite-lived intangibles	0	0
Accumulated amortization	0	0
Total	0	0
Operating Segments | Jefferson Terminal
Intangible assets:
Total intangible assets, net	19,247	20,135
Intangible liabilities:
Acquired unfavorable lease intangibles	0	0
Less: Accumulated amortization	0	0
Acquired unfavorable lease intangibles, net	0	0
Operating Segments | Jefferson Terminal | Off-Market Favorable Lease
Intangible assets:
Acquired finite-lived intangibles	0	0
Accumulated amortization	0	0
Total	0	0
Operating Segments | Jefferson Terminal | Customer relationships
Intangible assets:
Acquired finite-lived intangibles	35,513	35,513
Accumulated amortization	(16,266)	(15,378)
Total	19,247	20,135
Operating Segments | Railroad
Intangible assets:
Total intangible assets, net	4	15
Intangible liabilities:
Acquired unfavorable lease intangibles	0	0
Less: Accumulated amortization	0	0
Acquired unfavorable lease intangibles, net	0	0
Operating Segments | Railroad | Off-Market Favorable Lease
Intangible assets:
Acquired finite-lived intangibles	0	0
Accumulated amortization	0	0
Total	0	0
Operating Segments | Railroad | Customer relationships
Intangible assets:
Acquired finite-lived intangibles	225	225
Accumulated amortization	(221)	(210)
Total	$ 4	$ 15

INTANGIBLE ASSETS AND LIABILI_4

INTANGIBLE ASSETS AND LIABILITIES, NET - Intangible Liabilities Amortization (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Finite-Lived Intangible Assets [Line Items]
Total	$ 3,362	$ 2,892
Equipment leasing revenues | Lease intangibles
Finite-Lived Intangible Assets [Line Items]
Lease intangibles	2,462	1,992
Depreciation and amortization | Customer relationships
Finite-Lived Intangible Assets [Line Items]
Customer relationships	$ 900	$ 900

INTANGIBLE ASSETS AND LIABILI_5

INTANGIBLE ASSETS AND LIABILITIES, NET - Schedule of Future Amortization Expense (Details) $ in Thousands	Mar. 31, 2019USD ($)
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2019	$ 8,463
2020	8,759
2021	5,317
2022	5,600
2023	3,600
Thereafter	2,378
Total	$ 34,117

DEBT, NET - Schedule of Debt (D

DEBT, NET - Schedule of Debt (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Debt	$ 1,557,537	$ 1,251,857
Less: Debt issuance costs	(17,520)	(14,510)
Total debt, net	1,540,017	1,237,347
Total debt due within one year	227,591	71,678
Loans payable
Debt Instrument [Line Items]
Debt	377,521	219,813
Loans payable | FTAI Pride Credit Agreement
Debt Instrument [Line Items]
Debt	46,181	47,743
Loans payable | CMQR Credit Agreement
Debt Instrument [Line Items]
Debt	22,540	22,265
Loans payable | Jefferson Revolver
Debt Instrument [Line Items]
Debt	$ 63,000	49,805
Quarterly commitment fee rate	0.50%
Basis spread	1.50%
Loans payable | DRP Revolver
Debt Instrument [Line Items]
Debt	$ 9,300	0
Quarterly commitment fee rate	0.875%
Basis spread	1.50%
Loans payable | LREG Credit Agreement
Debt Instrument [Line Items]
Debt	$ 71,500	0
Quarterly commitment fee rate	1.50%
Loans payable | LREG Second Lien Credit Agreement
Debt Instrument [Line Items]
Quarterly commitment fee rate	1.00%
Bonds payable
Debt Instrument [Line Items]
Debt	$ 1,180,016	1,032,044
Bonds payable | Series 2012 Bonds
Debt Instrument [Line Items]
Debt	$ 42,781	42,797
Stated percentage	8.25%
Unamortized premium	$ 1,561	1,577
Bonds payable | Series 2016 Bonds
Debt Instrument [Line Items]
Debt	$ 144,200	144,200
Stated percentage	7.25%
Bonds payable | Senior Notes Due 2022
Debt Instrument [Line Items]
Debt	$ 697,265	549,405
Stated percentage	6.75%
Unamortized premium	$ 4,237	4,559
Unamortized discount	6,972	5,154
Bonds payable | Senior Notes Due 2025
Debt Instrument [Line Items]
Debt	$ 295,770	295,642
Stated percentage	6.50%
Unamortized premium	$ 4,230	4,358
Revolving Credit Facility | Loans payable
Debt Instrument [Line Items]
Debt	$ 165,000	$ 100,000
London Interbank Offered Rate (LIBOR) | Loans payable | FTAI Pride Credit Agreement
Debt Instrument [Line Items]
Basis spread	4.50%
London Interbank Offered Rate (LIBOR) | Loans payable | LREG Credit Agreement
Debt Instrument [Line Items]
Basis spread	7.30%
London Interbank Offered Rate (LIBOR) | Loans payable | LREG Second Lien Credit Agreement
Debt Instrument [Line Items]
Basis spread	7.50%
Eurodollar | Jefferson Revolver
Debt Instrument [Line Items]
Basis spread	2.50%
Eurodollar | DRP Revolver
Debt Instrument [Line Items]
Basis spread	2.50%
Eurodollar | Revolving Credit Facility
Debt Instrument [Line Items]
Basis spread	2.00%
Adjusted Eurodollar Rate | Revolving Credit Facility
Debt Instrument [Line Items]
Basis spread	3.00%
Minimum | London Interbank Offered Rate (LIBOR) | Loans payable | CMQR Credit Agreement
Debt Instrument [Line Items]
Basis spread	2.50%
Minimum | Base Rate | Loans payable | CMQR Credit Agreement
Debt Instrument [Line Items]
Basis spread	1.50%
Minimum | Base Rate | Loans payable | LREG Credit Agreement
Debt Instrument [Line Items]
Basis spread	2.50%
Minimum | Canadian Fixed Rate | Loans payable | CMQR Credit Agreement
Debt Instrument [Line Items]
Basis spread	2.50%
Maximum | London Interbank Offered Rate (LIBOR) | Loans payable | CMQR Credit Agreement
Debt Instrument [Line Items]
Basis spread	4.50%
Maximum | Base Rate | Loans payable | CMQR Credit Agreement
Debt Instrument [Line Items]
Basis spread	3.50%
Maximum | Base Rate | Loans payable | LREG Credit Agreement
Debt Instrument [Line Items]
Basis spread	3.50%
Maximum | Canadian Fixed Rate | Loans payable | CMQR Credit Agreement
Debt Instrument [Line Items]
Basis spread	4.50%

DEBT, NET - Narrative (Details)

DEBT, NET - Narrative (Details)	Feb. 08, 2019USD ($)	Feb. 07, 2019	Dec. 20, 2018USD ($)	Mar. 31, 2019USD ($)	Feb. 15, 2019USD ($)	Dec. 19, 2018USD ($)
Debt Instrument [Line Items]
Conversion ratio	2	1.65
Jefferson Revolver
Debt Instrument [Line Items]
Line of credit facility increase			$ 25,000,000
Line of credit, maximum borrowing capacity			75,000,000			$ 50,000,000
Long-term line of credit			$ 50,000,000
Senior Notes Due 2022 | Bonds payable
Debt Instrument [Line Items]
Debt instrument face amount	$ 150,000,000
Redemption price	98.50%
Amended Credit Agreement
Debt Instrument [Line Items]
Line of credit facility increase	$ 125,000,000
Line of credit, maximum borrowing capacity	250,000,000
Long-term line of credit	$ 125,000,000
Construction Loan And Term Loan
Debt Instrument [Line Items]
Line of credit, maximum borrowing capacity					$ 445,000,000
Letter of Credit
Debt Instrument [Line Items]
Line of credit, maximum borrowing capacity					154,000,000
Receivable				$ 128,000,000
Remaining borrowing capacity				$ 26,000,000
Letter of Credit | First Lien Agreement
Debt Instrument [Line Items]
Line of credit, maximum borrowing capacity					179,000,000
Second Lien Construction Loans
Debt Instrument [Line Items]
Line of credit, maximum borrowing capacity					143,000,000
Long-term line of credit					$ 71,500,000

FAIR VALUE MEASUREMENTS - Finan

FAIR VALUE MEASUREMENTS - Financial Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Assets
Total assets	$ 236,163	$ 128,307
Liabilities
Derivative liabilities	(47,277)	(925)
Level 1
Assets
Total assets	228,573	120,837
Liabilities
Derivative liabilities	0	0
Level 2
Assets
Total assets	0	0
Liabilities
Derivative liabilities	0	0
Level 3
Assets
Total assets	7,590	7,470
Liabilities
Derivative liabilities	(47,277)	(925)
Market
Assets
Cash and cash equivalents	120,515	99,601
Restricted cash	108,058	21,236
Market | Level 1
Assets
Cash and cash equivalents	120,515	99,601
Restricted cash	108,058	21,236
Market | Level 2
Assets
Cash and cash equivalents	0	0
Restricted cash	0	0
Market | Level 3
Assets
Cash and cash equivalents	0	0
Restricted cash	0	0
Income
Assets
Derivative assets	7,590	7,470
Liabilities
Derivative liabilities	(47,277)	(925)
Income | Level 1
Assets
Derivative assets	0	0
Liabilities
Derivative liabilities	0	0
Income | Level 2
Assets
Derivative assets	0	0
Liabilities
Derivative liabilities	0	0
Income | Level 3
Assets
Derivative assets	7,590	7,470
Liabilities
Derivative liabilities	$ (47,277)	$ (925)

FAIR VALUE MEASUREMENTS (Fair V

FAIR VALUE MEASUREMENTS (Fair Value by Balance Sheet Grouping) (Details) - Estimate of Fair Value Measurement - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Series 2012 Bonds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes payable, fair value disclosure	$ 43,141	$ 42,633
Series 2016 Bonds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes payable, fair value disclosure	148,683	149,582
Senior Notes due 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes payable, fair value disclosure	712,705	551,144
Senior Notes due 2025
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes payable, fair value disclosure	$ 296,235	$ 283,965

DERIVATIVE FINANCIAL INSTRUME_3

DERIVATIVE FINANCIAL INSTRUMENTS - Schedule of Derivative Instruments (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Electricity swaps | Derivatives Designated in Cash Flow Hedges:
Derivatives, Fair Value [Line Items]
Notional Amount	$ 29,278	$ 0
Fair Value of Assets (1)	0	0
Fair Value of Liabilities (1)	(43,012)	0
Electricity swaps | Non-hedge Derivative Instruments:
Derivatives, Fair Value [Line Items]
Notional Amount	4,207	0
Fair Value of Assets (1)	0	0
Fair Value of Liabilities (1)	(2,370)	0
Crude oil forwards | Non-hedge Derivative Instruments:
Derivatives, Fair Value [Line Items]
Notional Amount	2,687	3,225
Fair Value of Assets (1)	7,590	7,470
Fair Value of Liabilities (1)	$ (1,895)	$ (925)
Minimum | Electricity swaps | Derivatives Designated in Cash Flow Hedges:
Derivatives, Fair Value [Line Items]
Term of contract	3 years
Minimum | Electricity swaps | Non-hedge Derivative Instruments:
Derivatives, Fair Value [Line Items]
Term of contract	3 years
Minimum | Crude oil forwards | Derivatives Designated in Cash Flow Hedges:
Derivatives, Fair Value [Line Items]
Term of contract	1 month	1 month
Maximum | Electricity swaps | Derivatives Designated in Cash Flow Hedges:
Derivatives, Fair Value [Line Items]
Term of contract	10 years
Maximum | Electricity swaps | Non-hedge Derivative Instruments:
Derivatives, Fair Value [Line Items]
Term of contract	10 years
Maximum | Crude oil forwards | Derivatives Designated in Cash Flow Hedges:
Derivatives, Fair Value [Line Items]
Term of contract	9 months	12 months

DERIVATIVE FINANCIAL INSTRUME_4

DERIVATIVE FINANCIAL INSTRUMENTS - Derivative Gain (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Electricity swaps
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Losses recognized in other comprehensive loss before reclassifications	$ (43,012)	$ 0
Gains (losses) reclassified from accumulated other comprehensive income	0	0
Losses (gains) recognized in earnings	(2,370)	0
Crude oil forwards
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Losses (gains) recognized in earnings	$ (850)	$ 624

REVENUES - Components of Revenu

REVENUES - Components of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Disaggregation of Revenue [Line Items]
Total revenues	$ 124,627	$ 68,844
Total equipment leasing revenues
Disaggregation of Revenue [Line Items]
Total revenues	72,452	55,784
Total infrastructure revenues
Disaggregation of Revenue [Line Items]
Total revenues	52,175	13,060
Equipment Leasing | Lease income
Disaggregation of Revenue [Line Items]
Total revenues	49,236	35,499
Equipment Leasing | Maintenance revenue
Disaggregation of Revenue [Line Items]
Total revenues	21,777	19,485
Equipment Leasing | Finance lease income
Disaggregation of Revenue [Line Items]
Total revenues	826	367
Equipment Leasing | Other revenue
Disaggregation of Revenue [Line Items]
Total revenues	613	433
Equipment Leasing | Total equipment leasing revenues
Disaggregation of Revenue [Line Items]
Total revenues	72,452	55,784
Infrastructure | Lease income
Disaggregation of Revenue [Line Items]
Total revenues	663	382
Infrastructure | Rail revenues
Disaggregation of Revenue [Line Items]
Total revenues	10,507	11,047
Infrastructure | Terminal services revenues
Disaggregation of Revenue [Line Items]
Total revenues	6,685	1,253
Infrastructure | Crude marketing revenues
Disaggregation of Revenue [Line Items]
Total revenues	30,779	0
Infrastructure | Other revenue
Disaggregation of Revenue [Line Items]
Total revenues	3,541	378
Infrastructure | Total infrastructure revenues
Disaggregation of Revenue [Line Items]
Total revenues	52,175	13,060
Aviation Leasing | Equipment Leasing
Disaggregation of Revenue [Line Items]
Total revenues	70,411	52,735
Aviation Leasing | Equipment Leasing | Lease income
Disaggregation of Revenue [Line Items]
Total revenues	47,303	33,250
Aviation Leasing | Equipment Leasing | Maintenance revenue
Disaggregation of Revenue [Line Items]
Total revenues	21,777	19,485
Aviation Leasing | Equipment Leasing | Finance lease income
Disaggregation of Revenue [Line Items]
Total revenues	826	0
Aviation Leasing | Equipment Leasing | Other revenue
Disaggregation of Revenue [Line Items]
Total revenues	505	0
Aviation Leasing | Equipment Leasing | Total equipment leasing revenues
Disaggregation of Revenue [Line Items]
Total revenues	70,411	52,735
Jefferson Terminal | Infrastructure
Disaggregation of Revenue [Line Items]
Total revenues	35,954	1,253
Jefferson Terminal | Infrastructure | Lease income
Disaggregation of Revenue [Line Items]
Total revenues	308	0
Jefferson Terminal | Infrastructure | Rail revenues
Disaggregation of Revenue [Line Items]
Total revenues	0	0
Jefferson Terminal | Infrastructure | Terminal services revenues
Disaggregation of Revenue [Line Items]
Total revenues	4,867	1,253
Jefferson Terminal | Infrastructure | Crude marketing revenues
Disaggregation of Revenue [Line Items]
Total revenues	30,779	0
Jefferson Terminal | Infrastructure | Other revenue
Disaggregation of Revenue [Line Items]
Total revenues	0	0
Jefferson Terminal | Infrastructure | Total infrastructure revenues
Disaggregation of Revenue [Line Items]
Total revenues	35,954	1,253
Railroad | Infrastructure
Disaggregation of Revenue [Line Items]
Total revenues	10,507	11,047
Railroad | Infrastructure | Lease income
Disaggregation of Revenue [Line Items]
Total revenues	0	0
Railroad | Infrastructure | Rail revenues
Disaggregation of Revenue [Line Items]
Total revenues	10,507	11,047
Railroad | Infrastructure | Terminal services revenues
Disaggregation of Revenue [Line Items]
Total revenues	0	0
Railroad | Infrastructure | Crude marketing revenues
Disaggregation of Revenue [Line Items]
Total revenues	0	0
Railroad | Infrastructure | Other revenue
Disaggregation of Revenue [Line Items]
Total revenues	0	0
Railroad | Infrastructure | Total infrastructure revenues
Disaggregation of Revenue [Line Items]
Total revenues	10,507	11,047
Ports and Terminals | Infrastructure
Disaggregation of Revenue [Line Items]
Total revenues	5,714	760
Ports and Terminals | Infrastructure | Lease income
Disaggregation of Revenue [Line Items]
Total revenues	355	382
Ports and Terminals | Infrastructure | Rail revenues
Disaggregation of Revenue [Line Items]
Total revenues	0	0
Ports and Terminals | Infrastructure | Terminal services revenues
Disaggregation of Revenue [Line Items]
Total revenues	1,818	0
Ports and Terminals | Infrastructure | Crude marketing revenues
Disaggregation of Revenue [Line Items]
Total revenues	0	0
Ports and Terminals | Infrastructure | Other revenue
Disaggregation of Revenue [Line Items]
Total revenues	3,541	378
Ports and Terminals | Infrastructure | Total infrastructure revenues
Disaggregation of Revenue [Line Items]
Total revenues	5,714	760
Corporate and Other
Disaggregation of Revenue [Line Items]
Total revenues	2,041	3,049
Corporate and Other | Lease income
Disaggregation of Revenue [Line Items]
Total revenues	1,933	2,249
Corporate and Other | Maintenance revenue
Disaggregation of Revenue [Line Items]
Total revenues	0	0
Corporate and Other | Finance lease income
Disaggregation of Revenue [Line Items]
Total revenues	0	367
Corporate and Other | Other revenue
Disaggregation of Revenue [Line Items]
Total revenues	108	433
Corporate and Other | Total equipment leasing revenues
Disaggregation of Revenue [Line Items]
Total revenues	$ 2,041	$ 3,049

REVENUES - Minimum Future Annua

REVENUES - Minimum Future Annual Revenues (Details) $ in Thousands	Mar. 31, 2019USD ($)
Operating Leases
2019	$ 135,843
2020	123,572
2021	86,212
2022	52,696
2023	31,791
Thereafter	19,466
Total	449,580
Finance Leases (1)
2019	2,435
2020	1,386
2021	0
2022	0
2023	0
Thereafter	0
Total	$ 3,821

LEASES - Narrative (Details)

LEASES - Narrative (Details) $ in Millions	3 Months Ended
	Mar. 31, 2019USD ($)
Lessee, Lease, Description [Line Items]
Lease not yet commenced, amount	$ 0.8
Lease not yet commenced, term of contract	7 years
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease term	3 months
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease term	46 years

LEASES - Lease Cost (Details)

LEASES - Lease Cost (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)
Leases [Abstract]
Amortization of right-of-use assets	$ 49
Interest on lease liabilities	30
Finance lease expense	79
Operating lease expense	2,529
Short-term lease expense	1,060
Variable lease expense	292
Total lease expense	$ 3,960

LEASES - Supplemental Informati

LEASES - Supplemental Information Related to Leases (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Jan. 01, 2019	Dec. 31, 2018
Leases [Abstract]
ROU assets, operating lease	$ 44,241	$ 46,000	$ 0
Operating lease liability	$ 44,719		$ 0
Weighted average remaining lease term, operating lease	35 years 1 month
Weighted average discount rate, operating lease	7.00%
Cash paid for amounts included in the measurement of operating lease liabilities
Operating cash flows	$ 2,529

LEASES - Future Payments (Detai

LEASES - Future Payments (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Operating leases
Remainder of 2019	$ 6,832
2020	5,549
2021	4,144
2022	3,502
2023	2,662
Thereafter	95,202
Total undiscounted lease payments	117,891
Less: Imputed interest	73,172
Total lease liabilities	$ 44,719	$ 0

EQUITY-BASED COMPENSATION (Narr

EQUITY-BASED COMPENSATION (Narrative) (Details)	3 Months Ended
	Mar. 31, 2019shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares transferred (in shares)	165,268
Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized (in shares)	30,000,000

EQUITY-BASED COMPENSATION - Exp

EQUITY-BASED COMPENSATION - Expenses Related to Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation	$ 228	$ 208
Remaining expense to be recognized, if all vesting conditions are met	1,188
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation	0	9
Remaining expense to be recognized, if all vesting conditions are met	$ 0
Weighted Average Remaining Contractual Term (in years)	8 years 11 months
Restricted Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation	$ 90	90
Remaining expense to be recognized, if all vesting conditions are met	$ 552
Weighted Average Remaining Contractual Term (in years)	11 months
Common Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation	$ 138	$ 109
Remaining expense to be recognized, if all vesting conditions are met	$ 636
Weighted Average Remaining Contractual Term (in years)	10 months

INCOME TAXES - Components of In

INCOME TAXES - Components of Income Tax Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Current:
Federal	$ 19	$ 129
State and local	65	19
Foreign	52	17
Total current provision	136	165
Deferred:
Federal	103	288
State and local	29	42
Foreign	185	0
Total deferred provision	317	330
Total provision for income taxes	$ 453	$ 495

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details)	3 Months Ended
	Mar. 31, 2019
Income Tax Disclosure [Abstract]
U.S. federal tax at statutory rate	21.00%

MANAGEMENT AGREEMENT AND AFFI_2

MANAGEMENT AGREEMENT AND AFFILIATE TRANSACTIONS (Details) - USD ($) shares in Millions	Jun. 21, 2018	May 31, 2015	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018	Dec. 20, 2018
Related Party Transaction [Line Items]
Ownership percentage by manager		0.05%
Management fees and incentive allocation to affiliate			$ 3,838,000	$ 3,739,000
Net income (loss) attributable to non-controlling interest			$ (3,416,000)	(8,761,000)
Shares issued, conversion of shares (in shares)	1.9
Jefferson Terminal
Related Party Transaction [Line Items]
Non-controlling interest ownership percentage	20.00%		20.00%
Non-controlling interest by private equity fund			$ 47,700,000		$ 51,100,000
Net income (loss) attributable to non-controlling interest			$ 3,296,000	4,764,000
Manager | Management fees
Related Party Transaction [Line Items]
Management fee percentage rate			1.50%
Due from related party			$ 0		0
Manager | Bond Purchase Agreement Guarantee Fees
Related Party Transaction [Line Items]
Amounts of transaction			1,700,000
Management fee payable						$ 300,000
General Partner
Related Party Transaction [Line Items]
Management fees and incentive allocation to affiliate			3,838,000	3,739,000
Management fees and incentive allocation to affiliate			4,004,000	3,785,000
General Partner | Post IPO Management Fees
Related Party Transaction [Line Items]
Management fees and incentive allocation to affiliate			3,676,000	3,739,000
General Partner | Income Incentive Allocation
Related Party Transaction [Line Items]
Management fees and incentive allocation to affiliate			0	0
General Partner | Capital gains incentive allocation
Related Party Transaction [Line Items]
Management fees and incentive allocation to affiliate			162,000	0
General Partner | General and administrative expense
Related Party Transaction [Line Items]
Management fees and incentive allocation to affiliate			2,543,000	2,181,000
General Partner | Acquisition and Transaction Expenses
Related Party Transaction [Line Items]
Management fees and incentive allocation to affiliate			1,461,000	$ 1,604,000
Accounts Payable and Accrued Liabilities | Manager
Related Party Transaction [Line Items]
Accrued management fees			1,256,000		1,263,000
Other payables			$ 3,221,000		$ 3,965,000
Threshold 1 | Fortress Worldwide Transportation and Infrastructure Master GP LLP | Income Incentive Allocation
Related Party Transaction [Line Items]
Pre-incentive income allocation			0.00%
Quarterly percent threshold of pre-incentive allocation net income			2.00%
Annual percent threshold of pre-incentive allocation net income			8.00%
Threshold 2 | Fortress Worldwide Transportation and Infrastructure Master GP LLP | Income Incentive Allocation
Related Party Transaction [Line Items]
Pre-incentive income allocation			100.00%
Threshold 2 | Fortress Worldwide Transportation and Infrastructure Master GP LLP | Income Incentive Allocation | Minimum
Related Party Transaction [Line Items]
Quarterly percent threshold of pre-incentive allocation net income			2.00%
Threshold 2 | Fortress Worldwide Transportation and Infrastructure Master GP LLP | Income Incentive Allocation | Maximum
Related Party Transaction [Line Items]
Quarterly percent threshold of pre-incentive allocation net income			2.2223%
Threshold 3 | Fortress Worldwide Transportation and Infrastructure Master GP LLP | Income Incentive Allocation
Related Party Transaction [Line Items]
Pre-incentive income allocation			10.00%

SEGMENT INFORMATION - Narrative

SEGMENT INFORMATION - Narrative (Details)	3 Months Ended
	Mar. 31, 2019asegment
Segment Reporting Information [Line Items]
Number of reportable segments | segment	4
Repauno
Segment Reporting Information [Line Items]
Area of real estate	1,630
Hannibal
Segment Reporting Information [Line Items]
Area of real estate	1,660

SEGMENT INFORMATION - Statement

SEGMENT INFORMATION - Statement of Income by Segment (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Revenues
Total revenues	$ 124,627	$ 68,844
Expenses
Operating expenses	61,918	27,579
General and administrative	4,732	3,586
Acquisition and transaction expenses	1,474	1,766
Management fees and incentive allocation to affiliate	3,838	3,739
Depreciation and amortization	39,533	29,587
Interest expense	21,303	11,871
Total expenses	132,798	78,128
Other income (expense)
Equity in (losses) earnings of unconsolidated entities	(384)	95
Gain on sale of equipment, net	1,725	(5)
Interest income	91	176
Other (expense) income	(2,604)	180
Total other (expense) income	(1,172)	446
Loss before income taxes	(9,343)	(8,838)
Provision for income taxes	453	495
Net loss	(9,796)	(9,333)
Less: Net loss attributable to non-controlling interests in consolidated subsidiaries	(3,416)	(8,761)
Net loss attributable to shareholders	(6,380)	(572)
Equipment Leasing
Revenues
Total revenues	72,452	55,784
Infrastructure
Revenues
Total revenues	52,175	13,060
Other income (expense)
Equity in (losses) earnings of unconsolidated entities	(220)	148
Operating Segments | Equipment Leasing | Aviation Leasing
Revenues
Total revenues	70,411	52,735
Expenses
Operating expenses	6,078	3,433
General and administrative	0	0
Acquisition and transaction expenses	13	157
Management fees and incentive allocation to affiliate	0	0
Depreciation and amortization	30,005	21,813
Interest expense	0	0
Total expenses	36,096	25,403
Other income (expense)
Equity in (losses) earnings of unconsolidated entities	(201)	(224)
Gain on sale of equipment, net	1,718	(20)
Interest income	26	73
Other (expense) income	0	0
Total other (expense) income	1,543	(171)
Loss before income taxes	35,858	27,161
Provision for income taxes	180	483
Net loss	35,678	26,678
Less: Net loss attributable to non-controlling interests in consolidated subsidiaries	0	(24)
Net loss attributable to shareholders	35,678	26,702
Operating Segments | Infrastructure | Jefferson Terminal
Revenues
Total revenues	35,954	1,253
Expenses
Operating expenses	39,241	11,959
General and administrative	0	0
Acquisition and transaction expenses	0	0
Management fees and incentive allocation to affiliate	0	0
Depreciation and amortization	5,156	4,790
Interest expense	3,924	3,528
Total expenses	48,321	20,277
Other income (expense)
Gain on sale of equipment, net	0	0
Interest income	38	100
Other (expense) income	(233)	180
Total other (expense) income	(415)	428
Loss before income taxes	(12,782)	(18,596)
Provision for income taxes	86	11
Net loss	(12,868)	(18,607)
Less: Net loss attributable to non-controlling interests in consolidated subsidiaries	(3,296)	(8,949)
Net loss attributable to shareholders	(9,572)	(9,658)
Operating Segments | Infrastructure | Railroad
Revenues
Total revenues	10,507	11,047
Expenses
Operating expenses	9,266	7,438
General and administrative	0	0
Acquisition and transaction expenses	0	0
Management fees and incentive allocation to affiliate	0	0
Depreciation and amortization	765	573
Interest expense	569	345
Total expenses	10,600	8,356
Other income (expense)
Equity in (losses) earnings of unconsolidated entities	0	0
Gain on sale of equipment, net	7	15
Interest income	0	0
Other (expense) income	(1)	0
Total other (expense) income	6	15
Loss before income taxes	(87)	2,706
Provision for income taxes	186	0
Net loss	(273)	2,706
Less: Net loss attributable to non-controlling interests in consolidated subsidiaries	(56)	206
Net loss attributable to shareholders	(217)	2,500
Operating Segments | Infrastructure | Ports and Terminals
Revenues
Total revenues	5,714	760
Expenses
Operating expenses	4,902	2,381
General and administrative	0	0
Acquisition and transaction expenses	0	0
Management fees and incentive allocation to affiliate	0	0
Depreciation and amortization	1,993	809
Interest expense	296	272
Total expenses	7,191	3,462
Other income (expense)
Equity in (losses) earnings of unconsolidated entities	0	0
Gain on sale of equipment, net	0	0
Interest income	21	0
Other (expense) income	(2,370)	0
Total other (expense) income	(2,349)	0
Loss before income taxes	(3,826)	(2,702)
Provision for income taxes	0	(1)
Net loss	(3,826)	(2,701)
Less: Net loss attributable to non-controlling interests in consolidated subsidiaries	(64)	6
Net loss attributable to shareholders	(3,762)	(2,707)
Corporate
Revenues
Total revenues	2,041	3,049
Expenses
Operating expenses	2,431	2,368
General and administrative	4,732	3,586
Acquisition and transaction expenses	1,461	1,609
Management fees and incentive allocation to affiliate	3,838	3,739
Depreciation and amortization	1,614	1,602
Interest expense	16,514	7,726
Total expenses	30,590	20,630
Other income (expense)
Equity in (losses) earnings of unconsolidated entities	37	171
Gain on sale of equipment, net	0	0
Interest income	6	3
Other (expense) income	0	0
Total other (expense) income	43	174
Loss before income taxes	(28,506)	(17,407)
Provision for income taxes	1	2
Net loss	(28,507)	(17,409)
Less: Net loss attributable to non-controlling interests in consolidated subsidiaries	0	0
Net loss attributable to shareholders	$ (28,507)	$ (17,409)

SEGMENT INFORMATION - Reconcili

SEGMENT INFORMATION - Reconciliation of Adjusted Net Income to Net Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Segment Reporting Information [Line Items]
Adjusted Net Income (Loss)	$ 66,290	$ 48,121
Add: Non-controlling share of adjustments to Adjusted Net Income	2,303	3,165
Equity in (losses) earnings of unconsolidated entities	(384)	95
Less: Pro-rata share of Adjusted Net Income from investments in unconsolidated entities	118	(175)
Less: Interest expense	(21,303)	(11,871)
Less: Depreciation and amortization expense	(47,867)	(36,814)
Less: Incentive allocations	(162)	0
Less: Asset impairment charges	0	0
Less: Changes in fair value of non-hedge derivative instruments	(3,220)	(624)
Less: Losses on the modification or extinguishment of debt and capital lease obligations	0	0
Less: Acquisition and transaction expenses	(1,474)	(1,766)
Less: Equity-based compensation expense	(228)	(208)
Less: Provision for income taxes	(453)	(495)
Net loss attributable to shareholders	(6,380)	(572)
Infrastructure
Segment Reporting Information [Line Items]
Equity in (losses) earnings of unconsolidated entities	(220)	148
Operating Segments | Equipment Leasing | Aviation Leasing
Segment Reporting Information [Line Items]
Adjusted Net Income (Loss)	74,210	56,210
Equity in (losses) earnings of unconsolidated entities	(201)	(224)
Less: Interest expense	0	0
Less: Acquisition and transaction expenses	(13)	(157)
Less: Provision for income taxes	(180)	(483)
Net loss attributable to shareholders	35,678	26,702
Operating Segments | Infrastructure | Jefferson Terminal
Segment Reporting Information [Line Items]
Adjusted Net Income (Loss)	(1,290)	(3,550)
Less: Interest expense	(3,924)	(3,528)
Less: Acquisition and transaction expenses	0	0
Less: Provision for income taxes	(86)	(11)
Net loss attributable to shareholders	(9,572)	(9,658)
Operating Segments | Infrastructure | Railroad
Segment Reporting Information [Line Items]
Adjusted Net Income (Loss)	1,199	3,406
Equity in (losses) earnings of unconsolidated entities	0	0
Less: Interest expense	(569)	(345)
Less: Acquisition and transaction expenses	0	0
Less: Provision for income taxes	(186)	0
Net loss attributable to shareholders	(217)	2,500
Operating Segments | Infrastructure | Ports and Terminals
Segment Reporting Information [Line Items]
Adjusted Net Income (Loss)	926	(1,564)
Equity in (losses) earnings of unconsolidated entities	0	0
Less: Interest expense	(296)	(272)
Less: Acquisition and transaction expenses	0	0
Less: Provision for income taxes	0	1
Net loss attributable to shareholders	(3,762)	(2,707)
Corporate
Segment Reporting Information [Line Items]
Adjusted Net Income (Loss)	(8,755)	(6,381)
Equity in (losses) earnings of unconsolidated entities	37	171
Less: Interest expense	(16,514)	(7,726)
Less: Acquisition and transaction expenses	(1,461)	(1,609)
Less: Provision for income taxes	(1)	(2)
Net loss attributable to shareholders	$ (28,507)	$ (17,409)

SEGMENT INFORMATION - Summary o

SEGMENT INFORMATION - Summary of Geographic Sources of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Segment Reporting Information [Line Items]
Total revenues	$ 124,627	$ 68,844
Equipment Leasing
Segment Reporting Information [Line Items]
Total revenues	72,452	55,784
Infrastructure
Segment Reporting Information [Line Items]
Total revenues	52,175	13,060
Corporate
Segment Reporting Information [Line Items]
Total revenues	2,041	3,049
Africa
Segment Reporting Information [Line Items]
Total revenues	3,477	1,385
Africa | Corporate
Segment Reporting Information [Line Items]
Total revenues	0	0
Asia
Segment Reporting Information [Line Items]
Total revenues	24,155	11,892
Asia | Corporate
Segment Reporting Information [Line Items]
Total revenues	2,041	2,683
Europe
Segment Reporting Information [Line Items]
Total revenues	31,885	34,918
Europe | Corporate
Segment Reporting Information [Line Items]
Total revenues	0	0
North America
Segment Reporting Information [Line Items]
Total revenues	63,001	20,559
North America | Corporate
Segment Reporting Information [Line Items]
Total revenues	0	366
South America
Segment Reporting Information [Line Items]
Total revenues	2,109	90
South America | Corporate
Segment Reporting Information [Line Items]
Total revenues	0	0
Aviation Leasing | Operating Segments | Equipment Leasing
Segment Reporting Information [Line Items]
Total revenues	70,411	52,735
Aviation Leasing | Africa | Operating Segments | Equipment Leasing
Segment Reporting Information [Line Items]
Total revenues	3,477	1,385
Aviation Leasing | Asia | Operating Segments | Equipment Leasing
Segment Reporting Information [Line Items]
Total revenues	22,114	9,209
Aviation Leasing | Europe | Operating Segments | Equipment Leasing
Segment Reporting Information [Line Items]
Total revenues	31,885	34,918
Aviation Leasing | North America | Operating Segments | Equipment Leasing
Segment Reporting Information [Line Items]
Total revenues	10,826	7,133
Aviation Leasing | South America | Operating Segments | Equipment Leasing
Segment Reporting Information [Line Items]
Total revenues	2,109	90
Jefferson Terminal | Operating Segments | Infrastructure
Segment Reporting Information [Line Items]
Total revenues	35,954	1,253
Jefferson Terminal | Africa | Operating Segments | Infrastructure
Segment Reporting Information [Line Items]
Total revenues	0	0
Jefferson Terminal | Asia | Operating Segments | Infrastructure
Segment Reporting Information [Line Items]
Total revenues	0	0
Jefferson Terminal | Europe | Operating Segments | Infrastructure
Segment Reporting Information [Line Items]
Total revenues	0	0
Jefferson Terminal | North America | Operating Segments | Infrastructure
Segment Reporting Information [Line Items]
Total revenues	35,954	1,253
Jefferson Terminal | South America | Operating Segments | Infrastructure
Segment Reporting Information [Line Items]
Total revenues	0	0
Railroad | Operating Segments | Infrastructure
Segment Reporting Information [Line Items]
Total revenues	10,507	11,047
Railroad | Africa | Operating Segments | Infrastructure
Segment Reporting Information [Line Items]
Total revenues	0	0
Railroad | Asia | Operating Segments | Infrastructure
Segment Reporting Information [Line Items]
Total revenues	0	0
Railroad | Europe | Operating Segments | Infrastructure
Segment Reporting Information [Line Items]
Total revenues	0	0
Railroad | North America | Operating Segments | Infrastructure
Segment Reporting Information [Line Items]
Total revenues	10,507	11,047
Railroad | South America | Operating Segments | Infrastructure
Segment Reporting Information [Line Items]
Total revenues	0	0
Ports and Terminals | Operating Segments | Infrastructure
Segment Reporting Information [Line Items]
Total revenues	5,714	760
Ports and Terminals | Africa | Operating Segments | Infrastructure
Segment Reporting Information [Line Items]
Total revenues	0	0
Ports and Terminals | Asia | Operating Segments | Infrastructure
Segment Reporting Information [Line Items]
Total revenues	0	0
Ports and Terminals | Europe | Operating Segments | Infrastructure
Segment Reporting Information [Line Items]
Total revenues	0	0
Ports and Terminals | North America | Operating Segments | Infrastructure
Segment Reporting Information [Line Items]
Total revenues	5,714	760
Ports and Terminals | South America | Operating Segments | Infrastructure
Segment Reporting Information [Line Items]
Total revenues	$ 0	$ 0

SEGMENT INFORMATION - Balance S

SEGMENT INFORMATION - Balance Sheet (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Total assets	$ 2,947,700	$ 2,638,778
Debt, net	1,540,017	1,237,347
Total liabilities	1,974,646	1,584,996
Equity
Non-controlling interest in equity of consolidated subsidiaries	53,195	56,383
Total equity	973,054	1,053,782
Total liabilities and equity	2,947,700	2,638,778
Operating Segments | Equipment Leasing | Aviation Leasing
Segment Reporting Information [Line Items]
Total assets	1,428,504	1,367,074
Debt, net	0	0
Total liabilities	239,836	234,449
Equity
Non-controlling interest in equity of consolidated subsidiaries	0	0
Total equity	1,188,668	1,132,625
Total liabilities and equity	1,428,504	1,367,074
Operating Segments | Infrastructure | Jefferson Terminal
Segment Reporting Information [Line Items]
Total assets	717,611	670,682
Debt, net	248,472	234,862
Total liabilities	321,624	288,256
Equity
Non-controlling interest in equity of consolidated subsidiaries	48,851	52,058
Total equity	395,987	382,426
Total liabilities and equity	717,611	670,682
Operating Segments | Infrastructure | Railroad
Segment Reporting Information [Line Items]
Total assets	72,731	64,286
Debt, net	22,540	22,239
Total liabilities	45,640	37,207
Equity
Non-controlling interest in equity of consolidated subsidiaries	3,248	3,258
Total equity	27,091	27,079
Total liabilities and equity	72,731	64,286
Operating Segments | Infrastructure | Ports and Terminals
Segment Reporting Information [Line Items]
Total assets	445,035	277,160
Debt, net	80,800	0
Total liabilities	156,468	16,615
Equity
Non-controlling interest in equity of consolidated subsidiaries	572	544
Total equity	288,567	260,545
Total liabilities and equity	445,035	277,160
Corporate
Segment Reporting Information [Line Items]
Total assets	283,819	259,576
Debt, net	1,188,205	980,246
Total liabilities	1,211,078	1,008,469
Equity
Non-controlling interest in equity of consolidated subsidiaries	524	523
Total equity	(927,259)	(748,893)
Total liabilities and equity	$ 283,819	$ 259,576

SEGMENT INFORMATION - Location

SEGMENT INFORMATION - Location of Long-Lived Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Property, plant and equipment and equipment held for lease, net	$ 1,471,794	$ 1,432,210
Property, plant and equipment and leasing equipment, net
Segment Reporting Information [Line Items]
Property, plant and equipment and equipment held for lease, net	2,260,462	2,141,063
Property, plant and equipment and leasing equipment, net | Corporate
Segment Reporting Information [Line Items]
Property, plant and equipment and equipment held for lease, net	155,589	156,617
Property, plant and equipment and leasing equipment, net | Africa
Segment Reporting Information [Line Items]
Property, plant and equipment and equipment held for lease, net	46,339	47,353
Property, plant and equipment and leasing equipment, net | Africa | Corporate
Segment Reporting Information [Line Items]
Property, plant and equipment and equipment held for lease, net	0	0
Property, plant and equipment and leasing equipment, net | Asia
Segment Reporting Information [Line Items]
Property, plant and equipment and equipment held for lease, net	454,347	418,315
Property, plant and equipment and leasing equipment, net | Asia | Corporate
Segment Reporting Information [Line Items]
Property, plant and equipment and equipment held for lease, net	34,858	34,667
Property, plant and equipment and leasing equipment, net | Europe
Segment Reporting Information [Line Items]
Property, plant and equipment and equipment held for lease, net	579,317	714,620
Property, plant and equipment and leasing equipment, net | Europe | Corporate
Segment Reporting Information [Line Items]
Property, plant and equipment and equipment held for lease, net	0	121,950
Property, plant and equipment and leasing equipment, net | North America
Segment Reporting Information [Line Items]
Property, plant and equipment and equipment held for lease, net	1,146,759	926,270
Property, plant and equipment and leasing equipment, net | North America | Corporate
Segment Reporting Information [Line Items]
Property, plant and equipment and equipment held for lease, net	120,731	0
Property, plant and equipment and leasing equipment, net | South America
Segment Reporting Information [Line Items]
Property, plant and equipment and equipment held for lease, net	33,700	34,505
Property, plant and equipment and leasing equipment, net | South America | Corporate
Segment Reporting Information [Line Items]
Property, plant and equipment and equipment held for lease, net	0	0
Aviation Leasing | Property, plant and equipment and leasing equipment, net | Operating Segments | Equipment Leasing
Segment Reporting Information [Line Items]
Property, plant and equipment and equipment held for lease, net	1,277,027	1,236,138
Aviation Leasing | Property, plant and equipment and leasing equipment, net | Africa | Operating Segments | Equipment Leasing
Segment Reporting Information [Line Items]
Property, plant and equipment and equipment held for lease, net	46,339	47,353
Aviation Leasing | Property, plant and equipment and leasing equipment, net | Asia | Operating Segments | Equipment Leasing
Segment Reporting Information [Line Items]
Property, plant and equipment and equipment held for lease, net	419,489	383,648
Aviation Leasing | Property, plant and equipment and leasing equipment, net | Europe | Operating Segments | Equipment Leasing
Segment Reporting Information [Line Items]
Property, plant and equipment and equipment held for lease, net	579,317	592,670
Aviation Leasing | Property, plant and equipment and leasing equipment, net | North America | Operating Segments | Equipment Leasing
Segment Reporting Information [Line Items]
Property, plant and equipment and equipment held for lease, net	198,182	177,962
Aviation Leasing | Property, plant and equipment and leasing equipment, net | South America | Operating Segments | Equipment Leasing
Segment Reporting Information [Line Items]
Property, plant and equipment and equipment held for lease, net	33,700	34,505
Jefferson Terminal | Property, plant and equipment and leasing equipment, net | Operating Segments | Infrastructure
Segment Reporting Information [Line Items]
Property, plant and equipment and equipment held for lease, net	455,525	433,404
Jefferson Terminal | Property, plant and equipment and leasing equipment, net | Africa | Operating Segments | Infrastructure
Segment Reporting Information [Line Items]
Property, plant and equipment and equipment held for lease, net	0	0
Jefferson Terminal | Property, plant and equipment and leasing equipment, net | Asia | Operating Segments | Infrastructure
Segment Reporting Information [Line Items]
Property, plant and equipment and equipment held for lease, net	0	0
Jefferson Terminal | Property, plant and equipment and leasing equipment, net | Europe | Operating Segments | Infrastructure
Segment Reporting Information [Line Items]
Property, plant and equipment and equipment held for lease, net	0	0
Jefferson Terminal | Property, plant and equipment and leasing equipment, net | North America | Operating Segments | Infrastructure
Segment Reporting Information [Line Items]
Property, plant and equipment and equipment held for lease, net	455,525	433,404
Jefferson Terminal | Property, plant and equipment and leasing equipment, net | South America | Operating Segments | Infrastructure
Segment Reporting Information [Line Items]
Property, plant and equipment and equipment held for lease, net	0	0
Railroad | Property, plant and equipment and leasing equipment, net | Operating Segments | Infrastructure
Segment Reporting Information [Line Items]
Property, plant and equipment and equipment held for lease, net	51,050	51,157
Railroad | Property, plant and equipment and leasing equipment, net | Africa | Operating Segments | Infrastructure
Segment Reporting Information [Line Items]
Property, plant and equipment and equipment held for lease, net	0	0
Railroad | Property, plant and equipment and leasing equipment, net | Asia | Operating Segments | Infrastructure
Segment Reporting Information [Line Items]
Property, plant and equipment and equipment held for lease, net	0	0
Railroad | Property, plant and equipment and leasing equipment, net | Europe | Operating Segments | Infrastructure
Segment Reporting Information [Line Items]
Property, plant and equipment and equipment held for lease, net	0	0
Railroad | Property, plant and equipment and leasing equipment, net | North America | Operating Segments | Infrastructure
Segment Reporting Information [Line Items]
Property, plant and equipment and equipment held for lease, net	51,050	51,157
Railroad | Property, plant and equipment and leasing equipment, net | South America | Operating Segments | Infrastructure
Segment Reporting Information [Line Items]
Property, plant and equipment and equipment held for lease, net	0	0
Ports and Terminals | Property, plant and equipment and leasing equipment, net | Operating Segments | Infrastructure
Segment Reporting Information [Line Items]
Property, plant and equipment and equipment held for lease, net	321,271	263,747
Ports and Terminals | Property, plant and equipment and leasing equipment, net | Africa | Operating Segments | Infrastructure
Segment Reporting Information [Line Items]
Property, plant and equipment and equipment held for lease, net	0	0
Ports and Terminals | Property, plant and equipment and leasing equipment, net | Asia | Operating Segments | Infrastructure
Segment Reporting Information [Line Items]
Property, plant and equipment and equipment held for lease, net	0	0
Ports and Terminals | Property, plant and equipment and leasing equipment, net | Europe | Operating Segments | Infrastructure
Segment Reporting Information [Line Items]
Property, plant and equipment and equipment held for lease, net	0	0
Ports and Terminals | Property, plant and equipment and leasing equipment, net | North America | Operating Segments | Infrastructure
Segment Reporting Information [Line Items]
Property, plant and equipment and equipment held for lease, net	321,271	263,747
Ports and Terminals | Property, plant and equipment and leasing equipment, net | South America | Operating Segments | Infrastructure
Segment Reporting Information [Line Items]
Property, plant and equipment and equipment held for lease, net	$ 0	$ 0

EARNINGS PER SHARE AND EQUITY -

EARNINGS PER SHARE AND EQUITY - Schedule of Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Earnings Per Share [Abstract]
Net loss attributable to shareholders	$ (6,380)	$ (572)
Weighted Average Shares Outstanding - Basic (in shares)	85,986,453	81,534,454
Weighted Average Shares Outstanding - Diluted (in shares)	85,986,453	81,534,454
Basic EPS (in dollars per share)	$ (0.07)	$ (0.01)
Diluted EPS (in dollars per share)	$ (0.07)	$ (0.01)
Participating securities (in shares)	1,500,000

EARNINGS PER SHARE AND EQUITY_2

EARNINGS PER SHARE AND EQUITY - Narrative (Details) - shares	1 Months Ended	3 Months Ended
	Jan. 31, 2019	Mar. 31, 2019	Mar. 31, 2018
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive shares (in shares)		138,659	47,189
Stocks issued during period for services (in shares)	16,275
Shares issued (in shares)		410,627
Class B Unit
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares converted (in shares)		554,455

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Additional Information (Details)	3 Months Ended
	Mar. 31, 2019USD ($)
Minimum
Loss Contingencies [Line Items]
Loss contingency, estimate of possible loss	$ 0
Maximum
Loss Contingencies [Line Items]
Loss contingency, estimate of possible loss	3,300,000
Repauno
Loss Contingencies [Line Items]
Potential milestone payment	15,000,000
Hannibal
Loss Contingencies [Line Items]
Potential milestone payment	$ 5,000,000

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - USD ($) $ / shares in Units, $ in Millions	May 02, 2019	Apr. 30, 2019	Mar. 31, 2019
Subsequent Event [Line Items]
Common stock dividends declared (in dollars per share)			$ 0.33
Shares issued (in shares)			410,627
Subsequent Event
Subsequent Event [Line Items]
Common stock dividends declared (in dollars per share)	$ 0.33
Shares issued (in shares)		193,841
Class B Unit
Subsequent Event [Line Items]
Shares converted (in shares)			554,455
Class B Unit | Subsequent Event
Subsequent Event [Line Items]
Shares converted (in shares)		261,735
Repauno | Subsequent Event
Subsequent Event [Line Items]
Ownership of other party, percentage		8.00%
Payments to acquire business		$ 4.5