FTAI Aviation (FTAI) 10-K 27 Feb 23 2022 FY Annual report Financial data

Cover page

Cover page - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2022	Feb. 22, 2023	Jun. 30, 2022
Entity Information [Line Items]
Document Type	10-K
Document Annual Report	true
Current Fiscal Year End Date	--12-31
Document Period End Date	Dec. 31, 2022
Document Transition Report	false
Entity File Number	001-37386
Entity Incorporation, State or Country Code	E9
Entity Tax Identification Number	98-1420784
Entity Address, Address Line One	1345 Avenue of the Americas, 45th Floor
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10105
City Area Code	212
Local Phone Number	798-6100
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 1.6
Entity Common Stock, Shares Outstanding		99,728,786
Documents Incorporated by Reference	Portions of the registrant's definitive proxy statement for the registrant's 2023 annual meeting, to be filed within 120 days after the close of the registrant's fiscal year, are incorporated by reference into Part III of this Annual Report on Form 10-K.
Entity Registrant Name	FTAI AVIATION LTD.
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Entity Central Index Key	0001590364
Ordinary shares, $0.01 par value per share
Entity Information [Line Items]
Title of 12(b) Security	Ordinary shares, $0.01 par value per share
Trading Symbol	FTAI
Security Exchange Name	NASDAQ
8.25% Fixed-to-Floating Rate Series A Cumulative Perpetual Redeemable Preferred Shares
Entity Information [Line Items]
Title of 12(b) Security	8.25% Fixed-to-Floating Rate Series A Cumulative Perpetual Redeemable Preferred Shares
Trading Symbol	FTAIP
Security Exchange Name	NASDAQ
8.00% Fixed-to-Floating Rate Series B Cumulative Perpetual Redeemable Preferred Shares
Entity Information [Line Items]
Title of 12(b) Security	8.00% Fixed-to-Floating Rate Series B Cumulative Perpetual Redeemable Preferred Shares
Trading Symbol	FTAIO
Security Exchange Name	NASDAQ
8.25% Fixed-Rate Reset Series C Cumulative Perpetual Redeemable Preferred Shares
Entity Information [Line Items]
Title of 12(b) Security	8.25% Fixed-Rate Reset Series C Cumulative Perpetual Redeemable Preferred Shares
Trading Symbol	FTAIN
Security Exchange Name	NASDAQ

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2022
Auditor Information [Abstract]
Auditor Firm ID	42
Auditor Name	Ernst & Young LLP
Auditor Location	New York, New York

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Assets
Cash and cash equivalents	$ 33,565	$ 138,206
Restricted cash	19,500	0
Accounts receivable, net	99,443	124,924
Leasing equipment, net	1,913,553	1,855,637
Property, plant, and equipment, net	10,014	38,263
Investments	22,037	22,917
Intangible assets, net	41,955	30,962
Inventory, net	163,676	100,307
Other assets	125,834	110,337
Assets of discontinued operations	0	2,442,301
Total assets	2,429,577	4,863,854
Liabilities
Accounts payable and accrued liabilities	86,452	87,035
Debt, net	2,175,727	2,501,587
Maintenance deposits	78,686	106,836
Security deposits	32,842	40,149
Other liabilities	36,468	23,892
Liabilities of discontinued operations	0	980,255
Total liabilities	2,410,175	3,739,754
Commitments and contingencies
Equity
Ordinary shares ($0.01 par value per share; 2,000,000,000 shares authorized; 99,716,621 and 99,180,385 shares issued and outstanding as of December 31, 2022 and 2021, respectively)	997	992
Preferred shares ($0.01 par value per share; 200,000,000 shares authorized; 13,320,000 and 13,320,000 shares issued and outstanding as of December 31, 2022 and 2021, respectively)	133	133
Additional paid in capital	343,350	1,411,940
Accumulated deficit	(325,602)	(132,392)
Accumulated other comprehensive loss	0	(156,381)
Shareholders' equity	18,878	1,124,292
Non-controlling interest in equity of consolidated subsidiaries	524	(192)
Total equity	19,402	1,124,100
Total liabilities and equity	$ 2,429,577	$ 4,863,854

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parentheticals) - $ / shares	Dec. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Common stock, par value (usd 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)	99,716,621	99,180,385
Common stock, shares outstanding (in shares)	99,716,621	99,180,385
Preferred stock, par value (usd per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	200,000,000	200,000,000
Preferred stock, shares issued (in shares)	13,320,000	13,320,000
Preferred stock, shares outstanding (in shares)	13,320,000	13,320,000

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenues
Revenues	$ 708,411	$ 335,583	$ 297,934
Expenses
Cost of sales	248,385	14,308	0
Operating expenses	132,264	59,615	40,121
General and administrative	14,164	13,448	14,106
Acquisition and transaction expenses	13,207	17,911	9,868
Management fees and incentive allocation to affiliate	3,562	684	5,446
Depreciation and amortization	152,917	147,740	141,286
Asset impairment	137,219	10,463	33,978
Interest expense	169,194	155,017	87,442
Total expenses	870,912	419,186	332,247
Other income (expense)
Equity in losses of unconsolidated entities	(369)	(1,403)	(1,932)
Gain (loss) on sale of assets, net	77,211	49,015	(300)
Loss on extinguishment of debt	(19,859)	(3,254)	(6,943)
Other income (expense)	207	(490)	94
Total other income (expense)	57,190	43,868	(9,081)
Loss from continuing operations before income taxes	(105,311)	(39,735)	(43,394)
Provision for (benefit from) income taxes	5,300	3,126	(4,343)
Net loss from continuing operations	(110,611)	(42,861)	(39,051)
Net loss from discontinued operations, net of income taxes	(101,416)	(87,845)	(64,641)
Net loss	(212,027)	(130,706)	(103,692)
Less: Net loss attributable to non-controlling interests in consolidated subsidiaries:
Continuing operations	0	0	0
Discontinued operations	(18,817)	(26,472)	(16,522)
Less: Dividends on preferred shares	27,164	24,758	17,869
Net loss attributable to shareholders	$ (220,374)	$ (128,992)	$ (105,039)
Basic
Continuing operations (usd per share)	$ (1.39)	$ (0.75)	$ (0.66)
Discontinued operations (usd per share)	(0.83)	(0.68)	(0.56)
Diluted
Continuing operations (usd per share)	(1.39)	(0.75)	(0.66)
Discontinued operations (usd per share)	$ (0.83)	$ (0.68)	$ (0.56)
Weighted Average Shares Outstanding:
Basic (in shares)	99,421,008	89,922,088	86,015,702
Diluted (in shares)	99,421,008	89,922,088	86,015,702

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement of Comprehensive Income [Abstract]
Net loss		$ (212,027)	$ (130,706)	$ (103,692)
Other comprehensive loss:
Other comprehensive income related to equity method investees, net	[1]	(182,963)	(129,820)	(26,609)
Changes in pension and other employee benefit accounts in discontinued operations		0	(324)	0
Comprehensive loss		(394,990)	(260,850)	(130,301)
Comprehensive loss attributable to non-controlling interest:
Continuing operations		0	0	0
Discontinued operations		(18,817)	(26,472)	(16,522)
Comprehensive loss attributable to shareholders		$ (376,173)	$ (234,378)	$ (113,779)
[1]Net of deferred tax (benefit) expense of $—, $(2,187) and $(7,075) for the years ended December 31, 2022, 2021 and 2020, respectively.

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement of Comprehensive Income [Abstract]
Cash flow hedge tax	$ 0	$ (2,187)	$ (7,075)

CONSOLIDATED STATEMENT OF CHANG

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY - USD ($) $ in Thousands	Total	Ordinary Shares(1)	[1]	Preferred Shares(1)	[1]	Additional Paid In Capital	Retained Earnings (Accumulated Deficit)	Accumulated Other Comprehensive Income (Loss)	Non-Controlling Interest in Equity of Consolidated Subsidiaries
Beginning balance at Dec. 31, 2019	$ 1,338,857	$ 849		$ 81		$ 1,110,122	$ 190,453	$ 372	$ 36,980
Increase (Decrease) in Partners' Capital [Roll Forward]
Net loss	(103,692)						(87,170)		(16,522)
Other comprehensive loss	(26,609)							(26,609)
Comprehensive loss	(130,301)						(87,170)	(26,609)	(16,522)
Settlement of equity-based compensation	(120)								(120)
Issuance of ordinary shares	311	7				304
Conversion of participating securities	(7)					(7)
Dividends declared - ordinary shares	(113,572)						(113,572)
Issuance of preferred shares	19,697			10		19,687
Dividends declared - preferred shares	(17,869)						(17,869)
Equity-based compensation	2,325								2,325
Ending balance at Dec. 31, 2020	1,099,321	856		91		1,130,106	(28,158)	(26,237)	22,663
Increase (Decrease) in Partners' Capital [Roll Forward]
Net loss	(130,706)						(104,234)		(26,472)
Other comprehensive loss	(130,144)							(130,144)
Comprehensive loss	(260,850)						(104,234)	(130,144)	(26,472)
Settlement of equity-based compensation	(421)								(421)
Issuance of ordinary shares	323,579	136				323,443
Dividends declared - ordinary shares	(118,009)					(118,009)
Issuance of preferred shares	101,200			42		101,158
Dividends declared - preferred shares	(24,758)					(24,758)
Equity-based compensation	4,038								4,038
Ending balance at Dec. 31, 2021	1,124,100	992		133		1,411,940	(132,392)	(156,381)	(192)
Increase (Decrease) in Partners' Capital [Roll Forward]
Net loss	(212,027)						(193,210)		(18,817)
Other comprehensive loss	(182,963)							(182,963)
Comprehensive loss	(394,990)						(193,210)	(182,963)	(18,817)
Spin-off of FTAI Infrastructure, Inc., net of distributions	(561,181)					(913,342)		339,344	12,817
Acquisition of consolidated subsidiary	3,054								3,054
Contributions from non-controlling interest	1,187								1,187
Settlement of equity-based compensation	(148)								(148)
Issuance of ordinary shares	404	5				399
Dividends declared - ordinary shares	(128,483)					(128,483)
Dividends declared - preferred shares	(27,164)					(27,164)
Equity-based compensation	2,623								2,623
Ending balance at Dec. 31, 2022	$ 19,402	$ 997		$ 133		$ 343,350	$ (325,602)	$ 0	$ 524
[1]Common and Preferred Shares of Fortress Transportation and Infrastructure Investors LLC were exchanged for Ordinary and Preferred Shares of FTAI Aviation Ltd. when the Merger, as detailed in Note 1, was completed on November 10, 2022.

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities:
Net loss	$ (212,027)	$ (130,706)	$ (103,692)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Equity in losses of unconsolidated entities	46,971	12,734	5,039
Gain on sale of subsidiaries	0	0	(1,331)
(Gain) loss on sale of assets, net	(141,677)	(49,031)	308
Security deposits and maintenance claims included in earnings	(41,845)	(39,067)	(6,362)
Loss on extinguishment of debt	19,859	3,254	11,667
Equity-based compensation	2,623	4,038	2,325
Depreciation and amortization	193,236	201,756	172,400
Asset impairment	137,219	10,463	33,978
Change in deferred income taxes	2,161	(2,057)	(5,851)
Change in fair value of non-hedge derivatives	(1,567)	(2,220)	181
Amortization of lease intangibles and incentives	37,135	27,978	30,346
Amortization of deferred financing costs	19,018	21,723	7,315
Provision for credit losses	47,975	12,953	3,595
Other	(1,010)	(440)	1,502
Change in:
Accounts receivable	(65,969)	(88,872)	(59,734)
Inventory	(23,267)	0	0
Other assets	(23,037)	(30,789)	3,660
Accounts payable and accrued liabilities	(19,599)	25,079	(5,258)
Management fees payable to affiliate	804	1,042	(20,622)
Other liabilities	2,340	118	(6,360)
Net cash (used in) provided by operating activities	(20,657)	(22,044)	63,106
Cash flows from investing activities:
Investment in unconsolidated entities	(7,344)	(54,655)	(4,690)
Principal collections on finance leases	2,227	7,387	13,823
Acquisition of business, net of cash acquired	(3,819)	(627,090)	0
Acquisition of leasing equipment	(638,329)	(572,624)	(321,606)
Acquisition of property, plant and equipment	(144,196)	(157,332)	(264,829)
Acquisition of lease intangibles	(31,127)	(24,017)	1,997
Investment in convertible promissory notes	0	(10,000)	0
Purchase deposit for acquisitions	(6,671)	(13,658)	(8,343)
Proceeds from sale of leasing equipment	408,937	158,927	72,175
Proceeds from sale of property, plant and equipment	5,289	4,494	0
Proceeds for deposit on sale of aircraft and engine	3,780	600	0
Return of purchase deposits	0	1,010	2,350
Net cash used in investing activities	(411,253)	(1,286,958)	(509,123)
Cash flows from financing activities:
Proceeds from debt	813,980	2,894,127	1,340,981
Repayment of debt	(1,144,529)	(1,553,231)	(852,197)
Payment of deferred financing costs	(18,607)	(52,739)	(28,243)
Receipt of security deposits	3,882	8,770	3,242
Return of security deposits	(2,141)	(1,201)	(4,655)
Receipt of maintenance deposits	47,846	31,507	33,369
Release of maintenance deposits	(1,471)	(20,724)	(15,712)
Proceeds from issuance of ordinary shares, net of underwriter's discount	0	323,124	0
Proceeds from issuance of preferred shares, net of underwriter's discount and issuance costs	0	101,200	19,694
Capital contributions from non-controlling interests	1,187	0	0
Dividend from spin-off of FTAI Infrastructure, net of cash transferred	500,562	0	0
Settlement of equity-based compensation	(148)	(421)	(120)
Cash dividends - ordinary shares	(128,483)	(118,009)	(113,572)
Cash dividends - preferred shares	(27,164)	(24,758)	(17,869)
Net cash provided by financing activities	44,914	1,587,645	364,918
Net (decrease) increase in cash and cash equivalents and restricted cash	(386,996)	278,643	(81,099)
Cash and cash equivalents and restricted cash, beginning of period	440,061	161,418	242,517
Cash and cash equivalents and restricted cash, end of period	53,065	440,061	161,418
Supplemental disclosure of cash flow information:
Cash paid for interest, net of capitalized interest	185,144	142,200	71,637
Cash paid for taxes	3,279	402	0
Supplemental disclosure of non-cash investing and financing activities:
Acquisition of leasing equipment	65,534	47,114	141,478
Acquisition of property, plant and equipment	0	(581)	(13,237)
Settled and assumed security deposits	(6,774)	(4,041)	(5,825)
Billed, assumed and settled maintenance deposits	(47,993)	(21,710)	(58,906)
Non-cash change in equity method investment	(182,963)	(129,907)	(26,609)
Conversion of interests in unconsolidated entities	(21,302)	0	0
Issuance of ordinary shares	$ 399	$ 455	$ 304

ORGANIZATION

ORGANIZATION	12 Months Ended
	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION	ORGANIZATION FTAI Aviation Ltd. (“we”, “us”, “our” or the “Company” and formerly “Fortress Transportation and Infrastructure Investors LLC”) is a Cayman Islands exempted company which through its subsidiaries owns, leases, and sells aviation equipment and also develops and manufactures, through a joint venture, and repairs and sells, through exclusivity arrangements, aftermarket components for aircraft engines. Additionally, we own and lease offshore energy equipment. We have two reportable segments, (i) Aviation Leasing and (ii) Aerospace Products (see Note 14). On August 1, 2022, the Company completed the spin-off of its infrastructure business into an independent publicly traded company. Accordingly, the operating results of, and costs to separate, the infrastructure business are reported in Net loss from discontinued operations, net of income taxes in the Consolidated Statements of Operations for all periods presented. In addition, the related assets and liabilities held prior to the spin-off are reported as Assets and Liabilities of Discontinued Operations on the Consolidated Balance Sheets. All amounts and disclosures included in the Notes to Consolidated Financial Statements reflect only the Company's continuing operations unless otherwise noted. For additional information, see Note 3, "Discontinued Operations."

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2022
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 (“U.S. 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 intercompany transactions and balances have been eliminated. 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 as well as the proportionate interest in adjustments to other comprehensive income (loss). Use of Estimates —The preparation of financial statements in conformity with U.S. 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 are denominated in U.S. dollars. 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 funds required for the Company’s investment in iAero Thrust as described in subsequent events (Note 17). Inventory —We hold aircraft engine modules, spare parts and used material inventory for trading and to support operations. Inventory is carried at the lower of cost or net realizable value on our consolidated balance sheets. Property, Plant and Equipment, Leasing Equipment and Depreciation —Property, plant and equipment and leasing equipment are stated at cost (inclusive of capitalized acquisition costs, where applicable) and depreciated using the straight-line method, over estimated useful lives, to estimated residual values which are summarized as follows: Asset Range of Estimated Useful Lives Residual Value Estimates Aircraft 25 years from date of manufacture Generally not to exceed 15% of manufacturer’s list price when new Aircraft engines 2 - 6 years, based on maintenance adjusted service life Sum of engine core salvage value plus the estimated fair value of life limited parts Aviation tooling and equipment 3 - 6 years from date of purchase Scrap value at end of useful life Offshore energy vessels 25 years from date of manufacture 10% of new build cost Furniture and fixtures 3 - 6 years from date of purchase None Computer hardware and software 2 - 5 years from date of purchase None Construction in progress N/A N/A Major improvements and modifications incurred in connection with the acquisition of property, plant and equipment and leasing equipment that are required to get the asset ready for initial service are capitalized and depreciated over the remaining life of the asset. Project costs of major additions and betterments, including capitalizable engineering costs and other costs directly related to the development or construction of project, are capitalized and depreciation commences once it is placed into service. Interest costs directly related to and incurred during the construction period of property, plant and equipment are capitalized. We review our depreciation policies on a regular basis to determine whether changes have taken place that would suggest that a change in our depreciation policies, useful lives of our equipment or the assigned residual values is warranted. For planned major maintenance or component overhaul activities for aviation equipment off lease, the cost of such major maintenance or component overhaul event is capitalized and depreciated on a straight-line basis over the period until the next maintenance or component overhaul event is required. Our offshore energy vessels are required to be drydocked periodically for recertifications or major repairs and maintenance that cannot be performed while the vessels are operating. Normal repairs and maintenance are expensed as incurred. We capitalize the costs associated with the drydockings and amortize them on a straight-line basis over the period between drydockings, usually during a 60 month time span. In accounting for leasing equipment, we make estimates about the expected useful lives, residual values and the fair value of acquired in-place leases and acquired maintenance liabilities (for aviation equipment). In making these estimates, we rely upon observable market data for the same or similar types of equipment and, in the case of aviation equipment, our own estimates with respect to a lessee’s anticipated utilization of the aircraft or engine. When we acquire leasing equipment subject to an in-place lease, determining the fair value of the in-place lease requires us to make assumptions regarding the current fair values of leases for identical or similar equipment, in order to determine if the in-place lease is within a fair value range of current lease rates. If a lease is below or above the range of current lease rates, the resulting lease discount or premium is recognized as a lease intangible and amortized into lease income over the remaining term of the lease. Capitalized Interest —The interest cost associated with major development and construction projects are capitalized and included in the cost of the project. Interest capitalization ceases once a project is substantially complete or no longer undergoing construction activities to prepare it for its intended use. We capitalized interest of $ 2.7 million , $2.4 million and $1.0 million during the years ended December 31, 2022, 2021 and 2020, respectively. Repairs and Maintenance —Repair and maintenance costs that do not extend the lives of the assets are expensed as incurred. Our repairs and maintenance expense was $ 7.2 million , $3.2 million and $1.3 million during the years ended December 31, 2022, 2021 and 2020, respectively, and are included in Operating expenses in the Consolidated Statements of Operations. Impairment of Long-Lived Assets —We perform a recoverability assessment of each of our long-lived assets whenever events or changes in circumstances, or indicators, indicate that the carrying amount or net book value of an asset may not be recoverable. Indicators may include, but are not limited to, a significant lease restructuring or early lease termination; significant traffic decline; a significant change in market conditions; or the introduction of newer technology aircraft, vessels or engines. When performing a recoverability assessment, we measure whether the estimated future undiscounted net cash flows expected to be generated by the asset exceeds its net book value. The undiscounted cash flows consist of cash flows from currently contracted leases and contracts, future projected leases, transition costs, estimated down time and estimated residual or scrap values. In the event that an asset does not meet the recoverability test, the carrying value of the asset will be adjusted to fair value resulting in an impairment charge. Management develops the assumptions used in the recoverability analysis based on its knowledge of active contracts, current and future expectations of the global demand for a particular asset and historical experience in the leasing markets, as well as information received from third party industry sources. The factors considered in estimating the undiscounted cash flows are impacted by changes in future periods due to changes in contracted lease rates, residual values, economic conditions, technology, demand for a particular asset type and other factors. Security Deposits —Our operating leases generally require the lessee to pay a security deposit or provide a letter of credit. Security deposits are held until specified return dates stipulated in the lease or lease expiration. Maintenance Payments —Typically, under an operating lease of aircraft, the lessee is responsible for performing all maintenance and is generally required to make maintenance payments to us for heavy maintenance, overhaul or replacement of certain high-value components of the aircraft or engine. These maintenance payments are based on hours or cycles of utilization or on calendar time, depending on the component, and are generally required to be made monthly in arrears. If a lessee is making monthly maintenance payments, we would typically be obligated to reimburse the lessee for costs they incur for heavy maintenance, overhaul or replacement of certain high-value components to the extent of maintenance payments received in respect of the specific maintenance event, usually shortly following the completion of the relevant work. We record the portion of maintenance payments paid by the lessee that are expected to be reimbursed as maintenance deposit liabilities in the Consolidated Balance Sheets. Reimbursements made to the lessee upon the receipt of evidence of qualifying maintenance work are recorded against the maintenance deposit liability. In certain acquired leases, we or the lessee may be obligated to make a payment to the other party at lease termination based on redelivery conditions stipulated at the inception of the lease. When the lessee is required to return the aircraft in an improved maintenance condition, we record a maintenance right asset, as a component of other assets, for the estimated value of the end-of-life maintenance payment at acquisition. We recognize payments received as end-of-lease compensation adjustments, within lease income or as a reduction to the maintenance right asset, when payment is received or collectability is assured. In the event we are required to make payments at the end of the lease for redelivery conditions, amounts are accrued as additional maintenance liability and expensed when we are obligated and can reasonably estimate such payments. Lease Incentives and Amortization —Lease incentives, which include lease acquisition costs related to reconfiguration of the aircraft cabin, other lessee specific modifications and other direct costs, are capitalized and amortized as a reduction of lease income over the primary term of the lease, assuming no lease renewals. Intangibles and amortization —Intangibles include the value of acquired favorable and unfavorable leases. In accounting for acquired leasing equipment, we make estimates about the fair value of the acquired leases. In determining the fair value of these leases, we make assumptions regarding the current fair values of leases for identical or similar equipment in order to determine if the acquired lease is within a fair value range of current lease rates. If a lease is below or above the range of current lease rates, the resulting lease discount or premium is recognized as a lease intangible and amortized into lease income over the remaining term of the lease. Acquired lease intangibles are amortized on a straight-line basis over the remaining lease terms, which collectively had a weighted-average remaining amortization period of approximately 59 months as of December 31, 2022, and are recorded as a component of revenues in the accompanying Consolidated Statements of Operations. 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 $ 29.4 million and $43.0 million as of December 31, 2022 and 2021, respectively, are included in Debt, net in the Consolidated Balance Sheets. We also have unamortized deferred revolver fees related to our revolving debt o f $5.5 million and $2.4 million as of December 31, 2022 and 2021, respectively, which are included in Other assets in the Consolidated Balance Sheets. Amortization expense was $ 17.0 million , $19.1 million and $5.8 million for the years ended December 31, 2022, 2021 and 2020, respectively, and is included in Interest expense in the Consolidated Statements of Operations. Discontinued Operations — A disposal of an entity or component of an entity is reported in discontinued operations if the disposal represents a strategic shift that has or will have a material impact on our operations and financial results. See Note 3 for additional information related to our discontinued operations. Revenues Operating Leases —We lease equipment pursuant to 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 cost of maintenance events 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. Estimates in recognizing revenue include mean time between removal, projected costs for engine maintenance and forecasted utilization of aircraft which are affected by historical usage patterns and overall industry, market and economic conditions. Significant changes to these estimates could have a material effect on the amount of revenue recognized in the period. For purchase and lease back transactions, we account for the transaction as a single arrangement. We allocate the consideration paid based on the relative fair value of the aircraft and lease. The fair value of the lease may include a lease premium or discount, which is recorded as a favorable or unfavorable lease intangible. 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 that equals or exceeds substantially all of the fair value of the leased equipment at the date of lease inception. Net investment in finance leases 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. Asset sales revenue —Asset sales revenue primarily consists of the transaction price related to the sale of aircraft and aircraft engines from our Aviation Leasing segment. From time to time, the Company may also assign the related lease agreements to the customer as part of the sale of these asset s. We routinely sell leasing equipment to customers and such transactions are considered recurring and ordinary in nature to our business. As such, these sales are accounted for within the scope of ASC 606. Revenue is recognized when a performance obligation is satisfied by transferring control over an asset to a customer. Revenue is recorded with corresponding costs of sales, presented on a gross basis in the Consolidated Statements of Operations. See Note 10 for additional information. Aerospace Products revenue —Aerospace Products revenue primarily consists of the transaction price related to the sale of repaired CFM56-7B and CFM56-5B engines, engine modules, spare parts and used material inventory, and are accounted for within the scope of ASC 606. Revenue is recognized when a performance obligation is satisfied by transferring control over the related asset to a customer. Revenue is recorded with corresponding costs of sales, presented on a gross basis in the Consolidated Statements of Operations. 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 included in Other assets and Other liabilities in our Consolidated Balance Sheets, respectively. Finance lease ROU assets are recognized in Other assets 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. Operating lease 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 and is recorded in Operating expenses in the Consolidated Statements of Operations. 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. We attempt to limit our credit risk by performing ongoing credit evaluations. No single customer accounted for greater than 10% of total revenue during the year ended December 31, 2022. We earned 11% and 11% of our revenue from one customer in the Aviation Leasing segment during the years ended December 31, 2021, and 2020, respectively. As of December 31, 2022, there were two customers in the Aviation Leasing segment that repres ented 20% and 12% of t otal accounts receivable, net. As of December 31, 2021, there were two customers in the Aviation Leasing segment that represented 51% and 18% 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. Allowance for Doubtful Accounts —We determine the allowance for doubtful accounts based on our assessment of the collectability of our receivables on a customer-by-customer basis. Provision in credit losses is included in Operating expenses in the Consolidated Statement of Operations. The activity in the allowance for doubtful accounts is as follows: December 31, 2022 2021 2020 Allowance at beginning of period $ 17,703 $ 4,823 $ 1,227 Provision for credit losses 47,877 12,880 3,596 Allowance at end of period $ 65,580 $ 17,703 $ 4,823 Economic sanctions and export controls against Russia and Russia’s aviation industry were imposed due to its invasion of Ukraine during the first quarter of 2022. As a result of the sanctions imposed on Russian airlines, we terminated all lease agreements with Russian airlines during the first quarter of 2022 and recognized approximately $47.1 million in provision for credit losses during the year ended December 31, 2022. Our allowance for doubtful accounts at December 31, 2022 includes all accounts receivable exposure to Russian and Ukrainian customers. 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 for pensions and other postretirement benefits of discontinued operations, and other comprehensive income related to cash flow hedges of our equity method investees of discontinued operations. These changes are also recorded in Accumulated other comprehensive loss in our Consolidated Balance Sheets. The cash flow impact of derivative contracts held by the equity method investees that are not designated as hedging instruments is recognized in Equity in losses (earnings) in unconsolidated entities in our Consolidated Statements of Cash Flows, and the cash flow impact of commodity derivatives held by our consolidated subsidiaries is recognized in Change in fair value of non-hedge derivatives in our Consolidated Statements of Cash Flows. Other Assets — Other assets d $4.0 million as of December 31, 2022 and 2021, respectively. As a result of the sanctions imposed on Russian airlines, we terminated all lease agreements with Russian airlines and recognized approximately $7.5 million in amortization for the remaining lease incentives during the year ended December 31, 2022. Dividends — Dividends are recorded if and when declared by the Board of Directors. The Board of Directors declared cash dividends of $1.26, $1.32 and $1.32 per ordinary share during each of the years ended December 31, 2022, 2021 and 2020, respectively. Additionally, the Board of Directors declared cash dividends on the Series A Preferred Shares of $2.06, $2.06 and $2.06 per share for the years ended December 31, 2022, 2021, and 2020, respectively, the Series B Preferred Shares of $2.00,$2.00 and $2.10 per share for the years ended December 31, 2022, 2021 and 2020, respectively, and the Series C Preferred Shares of $2.06 and $1.49 per share for the year ended December 31, 2022 and 2021, respectively. Recent Accounting Pronouncements —In July 2021, the FASB issued ASU 2021-05, Leases (Topic 842): Lessors—Certain Leases with Variable Lease Payments . This ASU requires lessors to classify and account for a lease with variable lease payments that do not depend on a reference index or a rate as an operating lease if (i) the lease would have been classified as a sales-type lease or a direct financing lease under Topic 842 and (ii) the lessor would have otherwise recognized a day-one loss. This standard is effective for all reporting periods beginning after December 15, 2021. We adopted this guidance in the first quarter of 2022, which did not have a material impact on our consolidated financial statements.

DISCONTINUED OPERATIONS

DISCONTINUED OPERATIONS	12 Months Ended
	Dec. 31, 2022
Discontinued Operations and Disposal Groups [Abstract]
DISCONTINUED OPERATIONS	DISCONTINUED OPERATIONS FTAI Infrastructure Inc. (“FTAI Infrastructure”) Spin-Off On April 28, 2022, the Board of Directors of the Company unanimously approved the previously announced spin-off of the Company’s infrastructure business held by FTAI Infrastructure (a wholly owned subsidiary of the Company). The spin-off was effected as a distribution of all of the shares owned by the Company of common stock of FTAI Infrastructure to the holders of the Company’s ordinary shares as of July 21, 2022. The distribution was completed on August 1, 2022. Under ASC 205-20, Presentation of Financial Statements – Discontinued Operations , the spin-off met the criteria to be reported as a discontinued operation. Therefore, FTAI Infrastructure is presented as a discontinued operation within the Company’s financial statements for all periods prior to August 1, 2022. FTAI Infrastructure is a corporation for U.S. federal income tax purposes and holds, among other things, the Company’s previously held interests in the (i) Jefferson Terminal business, (ii) Repauno business, (iii) Long Ridge investment, and (iv) Transtar business. FTAI Infrastructure retained all related project-level debt of those businesses. In connection with the spin-off, FTAI Infrastructure paid a dividend of $730.3 million to the Company. The Company used these proceeds to repay all outstanding borrowings under its 2021 bridge loans, $200.0 million of its 6.50% senior unsecured notes due 2025, and approximately $175.0 million of the outstanding borrowings under its revolving credit facility. FTAI retained the aviation business and certain other assets, and FTAI’s remaining outstanding corporate indebtedness. In connection with the spin-off, the Company and the Manager assigned the Company’s then-existing management agreement to FTAI Infrastructure, and FTAI Infrastructure and the Manager executed an amended and restated agreement. The Company and certain of its subsidiaries executed a new management agreement with the Manager. The new management agreement has an initial term of six years. The Manager is entitled to a management fee and reimbursement of certain expenses on substantially similar terms as the previous arrangements with the Manager, which were assigned to FTAI Infrastructure. Prior to the Merger described below, our Manager remained entitled to incentive allocations (comprised of income incentive allocation and capital gains incentive allocation) on the same terms as they existed prior to spin-off. Following the Merger, the Company entered into a Services and Profit Sharing Agreement (the “Services and Profit Sharing Agreement”), with a subsidiary of the Company and Fortress Worldwide Transportation and Infrastructure Master GP LLC (“Master GP”), pursuant to which Master GP is entitled to incentive payments on substantially similar terms as the previous arrangements. Critical Accounting Policies Revenue Recognition Revenues of discontinued operations consist of the following revenue streams: Terminal Services Revenues —Terminal services are provided to customers for the receipt and redelivery of various commodities. These revenues relate to performance obligations that are recognized over time using the right to invoice practical expedient, i.e., invoiced as the services are rendered and the customer simultaneously receives and consumes the benefit over the contract term. The Company’s performance of service and right to invoice corresponds with the value delivered to our customers. Revenues are typically invoiced and paid on a monthly basis. Rail Revenues —Rail revenues generally consist of the following performance obligations: industrial switching, interline services, demurrage and storage. Switching revenues are derived from the performance of switching services, which involve the movement of cars from one point to another within the limits of an individual plant, industrial area, or a rail yard. Switching revenues are recognized as the services are performed, and the services are generally completed on the same day they are initiated. Interline revenues are derived from transportation services for railcars that originate or terminate at our railroads and involve one or more other carriers. We record revenue related to interline traffic for transportation service segments provided by carriers along railroads that are not owned or controlled by us on a net basis. Interline revenues are recognized as the transportation movements occur. Ancillary services revenue primarily relates to demurrage and storage services. Demurrage represents charges assessed by railroads for the detention of cars by shippers or receivers of freight beyond a specified free time and is recognized on a per day basis. Storage services revenue is earned for the provision of storage of shippers’ railcars and is generally recognized on a per day, per car basis, as the storage services are provided. Lease Income —Lease income consists of rental income from tenants for storage space. Lease income is recognized on a straight-line basis over the terms of the relevant lease agreement. Other Revenue —Other revenue primarily consists of revenue related to the handling, storage and sale of raw materials. Revenues for the handling and storage of raw materials relate to performance obligations that are recognized over time using the right to invoice practical expedient, i.e., invoiced as the services are rendered and the customer simultaneously receives and consumes the benefit over the contract term. Our performance of service and right to invoice corresponds with the value delivered to our customers. Revenues for the sale of raw materials relate to contracts that contain performance obligations to deliver the product over the term of the contract. The revenues are recognized when the control of the product is transferred to the customer, based on the volume delivered and the price within the contract. Other revenues are typically invoiced and paid on a monthly basis. Additionally, other revenue consists of revenue related to derivative trading activities and also includes revenue related to providing roadside assistance services to customers in the intermodal and over-the-road trucking industries. Revenue is recognized when a performance obligation is satisfied by completing a repair service at a point in time. Revenues are typically invoiced for each repair and generally have 30-day payment terms. Variable Interest Entity 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. At December 31, 2021, we held an approximately 98% economic interest, and a 100% voting interest in Delaware River Partners LLC (“DRP”). DRP was solely reliant on us to finance its activities and therefore was a VIE. We concluded that we were the primary beneficiary; and accordingly, DRP has been presented on a consolidated basis in the tables below. Total VIE assets of DRP were $316.5 million and total VIE liabilities were $32.6 million as of December 31, 2021. Goodwill Goodwill included the excess of the purchase price over the fair value of the net tangible and intangible assets associated with the acquisition of Jefferson Terminal and Transtar. Subsequent to the spin-off on August 1, 2022, the Company does not have any goodwill. We reviewed the carrying values of goodwill at least annually to assess impairment since these assets are not amortized. An annual impairment review was conducted as of October 1st of each year. Additionally, we reviewed the carrying value of goodwill whenever events or changes in circumstances indicate that its carrying amount may not be recoverable. The determination of fair value involves significant management judgment. For an annual goodwill impairment assessment, an optional qualitative analysis may be performed. If the option is not elected or if it is more likely than not that the fair value of a reporting unit is less than its carrying amount, then a goodwill impairment test is performed to identify potential goodwill impairment and measure an impairment loss. A qualitative analysis was not elected for 2021 or 2020. A goodwill impairment assessment compares the fair value of the respective reporting unit with its carrying amount, including goodwill. The estimate of fair value of the respective reporting unit is based on the best information available as of the date of assessment, which primarily incorporates certain factors including our assumptions about operating results, business plans, income projections, anticipated future cash flows and market data. If the estimated fair value of the reporting unit is less than the carrying amount, a goodwill impairment is recorded to the extent that the carrying value of the reporting unit exceeds its fair value. We estimated the fair value of the Jefferson and Transtar reporting units using an income approach, specifically a discounted cash flow analysis. The analysis required us to make significant assumptions and estimates about the forecasted revenue growth rates, capital expenditures, the timing of future cash flows, and discount rates. The estimates and assumptions were used to consider historical performance if indicative of future performance and were consistent with the assumptions used in determining future profit plans for the reporting units. There were no impairments of goodwill for the years ended December 31, 2022, 2021, and 2020. Intangibles and amortization Intangibles included the value of existing customer relationships acquired in connection with the acquisition of Jefferson Terminal and Transtar. Customer relationship intangible assets were amortized on a straight-line basis over their useful lives as the pattern in which the asset’s economic benefits are consumed cannot reliably be determined. Customer relationship intangible assets have useful lives ranging from 5 to 15 years, no estimated residual value, and amortization was recorded as a component of Depreciation and amortization in the Consolidated Statements of Operations. The weighted-average remaining amortization period was approximately 154 months as of December 31, 2021. Financial Information of Discontinued Operations The following table presents the significant components of net loss from discontinued operations: Year Ended December 31, 2022 2021 2020 Revenues Total revenues $ 140,009 $ 120,219 $ 68,562 Expenses Cost of sales 12,732 — 10,864 Operating expense 92,478 98,541 58,527 General and administrative expenses 2,694 3,961 4,053 Acquisition and transaction expenses 13,971 4,030 — Management fees and incentive allocation to affiliate 8,134 15,638 13,073 Depreciation and amortization 40,319 54,016 31,114 Interest expense 15,105 16,019 10,764 Total expenses 185,433 192,205 128,395 Equity in losses of unconsolidated entities (46,602) (11,331) (3,107) Gain on sale of assets, net 258 16 1,323 Loss on extinguishment of debt — — (4,724) Other (expense) income (1,421) (8,727) 138 Total other expense (47,765) (20,042) (6,370) Loss before income taxes (93,189) (92,028) (66,203) Provision for (benefit from) income taxes 8,227 (4,183) (1,562) Net loss from discontinued operations, net of income taxes (101,416) (87,845) (64,641) Less: Net loss attributable to non-controlling interests in consolidated subsidiaries (18,817) (26,472) (16,522) Net loss attributable to shareholders $ (82,599) $ (61,373) $ (48,119) The following table summarizes the carrying value of the major classes of assets and liabilities of discontinued operations as of December 31, 2021: December 31, 2021 Assets Cash and cash equivalents $ 49,872 Restricted cash 251,983 Accounts receivable, net 50,301 Leasing equipment, net 36,012 Operating lease right-of-use assets, net 71,547 Property, plant and equipment, net 1,517,594 Investments 54,408 Intangible assets, net 67,737 Goodwill 257,137 Other assets 85,710 Total assets of discontinued operations 2,442,301 Liabilities Accounts payable and accrued liabilities 115,634 Debt, net 718,624 Operating lease liabilities 70,404 Other liabilities 75,593 Total liabilities of discontinued operations 980,255 The cash flows related to discontinued operations have not been segregated, and are included in the Consolidated Statements of Cash Flows for all periods presented. The following table summarizes depreciation and amortization, capital expenditures, and other significant operating and investing noncash items of discontinued operations for each period presented: Year Ended December 31, 2022 2021 2020 Operating activities: Equity in losses of unconsolidated entities $ 46,601 $ 11,331 $ 3,107 Depreciation and amortization 40,319 54,016 31,114 Equity-based compensation 2,623 4,038 2,325 Investing activities: Acquisition of property, plant and equipment $ (129,920) $ (140,896) $ (247,961) Acquisition of business, net of cash acquired (3,819) (627,090) — Investment in unconsolidated entities 7,954 53,055 (4,690) Proceeds from sale of property, plant and equipment 5,289 4,494 — Non-cash change in equity method investment (182,963) (129,907) (26,609) Conversion of interests in unconsolidated entities (21,302) — — The Company accounted for Long Ridge Terminal LLC, included in liabilities of discontinued operations at December 31, 2021 included above, using the equity method of accounting. Summarized financial data for Long Ridge Terminal LLC are shown in the following tables for the periods in which the Company held the equity investment. December 31, 2021 Balance Sheet Assets Cash and cash equivalents $ 2,932 Restricted cash 32,469 Accounts receivable, net 17,896 Property, plant, and equipment, net 764,607 Intangible assets, net 4,940 Goodwill 89,390 Inventory, net 1,691 Other assets 12,750 Total assets $ 926,675 Liabilities Accounts payable and accrued liabilities $ 16,121 Debt, net 604,261 Derivative liabilities 339,033 Other liabilities 2,246 Total liabilities 961,661 Equity Shareholders’ equity (1,035) Accumulated deficit (33,951) Total equity (34,986) Total liabilities and equity $ 926,675 Income Statement 2022 2021 2020 Total revenues $ 15,199 $ 85,638 $ 24,917 Expenses Operating expenses 36,693 28,310 16,339 Depreciation and amortization 29,381 24,836 11,004 Interest expense 30,622 11,005 2,037 Total expenses 96,696 64,151 29,380 Total other expense (234) (44,302) (1,967) Net loss $ (81,731) $ (22,815) $ (6,430)

LEASING EQUIPMENT, NET

LEASING EQUIPMENT, NET	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
LEASING EQUIPMENT, NET	LEASING EQUIPMENT, NET Leasing equipment, net is summarized as follows: December 31, 2022 2021 Leasing equipment $ 2,413,230 $ 2,312,040 Less: Accumulated depreciation (499,677) (456,403) Leasing equipment, net $ 1,913,553 $ 1,855,637 Economic sanctions and export controls against Russia and Russia’s aviation industry have been imposed due to its invasion of Ukraine during the year ended December 31, 2022. As a result of the sanctions imposed on Russian airlines, we terminated all lease agreements with Russian airlines. As of December 31, 2022, four aircraft and one engine were still located in Ukraine and eight aircraft and seventeen engines were still located in Russia. We determined that it is unlikely that we will regain possession of the aircraft and engines that have not yet been recovered from Ukraine and Russia. As a result, we recognized an impairment charge totaling $120.0 million, net of maintenance deposits, to write-off the entire carrying value of leasing equipment assets that we do not expect to recover from Ukraine and Russia. Additionally, we identified certain assets in our leasing equipment portfolio with indicators of impairment. As a result, we adjusted the carrying value of these assets to fair value and recognized transactional impairment charges of $17.2 million, net of redelivery compensation during the year ended December 31, 2022. The following table presents information related to acquisitions and dispositions of aviation leasing equipment: Year Ended December 31, 2022 2021 2020 Acquisitions: Aircraft 39 52 20 Engines 64 60 37 Dispositions: Aircraft 8 4 — Engines 71 56 25 Depreciation expense for leasing equipment is summarized as follows: Year Ended December 31, 2022 2021 2020 Depreciation expense for leasing equipment $ 152,378 $ 147,444 $ 141,161

PROPERTY, PLANT AND EQUIPMENT,

PROPERTY, PLANT AND EQUIPMENT, NET	12 Months Ended
	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
PROPERTY, PLANT AND EQUIPMENT, NET	PROPERTY, PLANT AND EQUIPMENT, NET Property, plant and equipment, net is summarized as follows: December 31, 2022 2021 Construction in progress 7,864 36,777 Furniture and fixtures 1,449 1,374 Other 1,661 533 10,974 38,684 Less: Accumulated depreciation (960) (421) Property, plant and equipment, net $ 10,014 $ 38,263 We added property, plant and equipment of $14.4 million and $14.5 million during the years ended December 31, 2022 and 2021, respectively, which primarily consist of the build out of the well intervention tower and riser system for the Pride vessel and the purchase of additional aviation module containers. Additionally, we placed the well intervention tower into service on December 1, 2022, which resulted in a $42.1 million transfer out of property, plant and equipment and into leasing equipment. Depreciation expense for property, plant and equipment is summarized as follows: Year Ended December 31, 2022 2021 2020 Depreciation expense $ 539 $ 295 $ 126

INVESTMENTS

INVESTMENTS	12 Months Ended
	Dec. 31, 2022
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 December 31, 2022 December 31, 2021 Advanced Engine Repair JV Equity method 25% $ 20,207 $ 21,317 Falcon MSN 177 LLC Equity method 50% 1,830 1,600 $ 22,037 $ 22,917 We did not recognize any other-than-temporary impairments for the year ended December 31, 2022. The following table presents our proportionate share of equity in income (losses): Year Ended December 31, 2022 2021 2020 Advanced Engine Repair JV $ (1,110) $ (1,403) $ (1,932) Falcon MSN 177 LLC $ 741 — — Total $ (369) $ (1,403) $ (1,932) Equity Method Investments Advanced Engine Repair JV In December 2016, we invested $15 million for a 25% interest in an advanced engine repair joint venture. We focus on developing new cost savings programs for engine repairs. We exercise significant influence over this investment and account for this investment as an equity method investment. In August 2019, we expanded the scope of our joint venture and invested an additional $13.5 million and maintained a 25% interest. Falcon MSN 177 LLC In November 2021, we invested $1.6 million for a 50% interest in Falcon MSN 177 LLC, an entity that consists of one Dassault Falcon 2000 aircraft. Falcon MSN 177 LLC leases the aircraft to charter operators on aircraft, crew, maintenance and insurance contracts. We account for our investment in Falcon as an equity method investment as we have significant influence through our interest.

INTANGIBLE ASSETS AND LIABILITI

INTANGIBLE ASSETS AND LIABILITIES, NET	12 Months Ended
	Dec. 31, 2022
Intangible Assets and Liabilities Disclosure [Abstract]
INTANGIBLE ASSETS AND LIABILITIES, NET	INTANGIBLE ASSETS AND LIABILITIES, NET Our intangible assets and liabilities, net are summarized as follows: December 31, 2022 December 31, 2021 Intangible assets Acquired favorable lease intangibles $ 64,202 $ 67,013 Less: Accumulated amortization (22,247) (36,051) Acquired favorable lease intangibles, net $ 41,955 $ 30,962 Intangible liabilities Acquired unfavorable lease intangibles $ 13,152 $ 14,795 Less: Accumulated amortization (2,607) (6,068) Acquired unfavorable lease intangibles, net $ 10,545 $ 8,727 Intangible assets and liabilities are all held within the Aviation Leasing segment. 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 recorded as follows: Classification in Consolidated Statements of Operations Year Ended December 31, 2022 2021 2020 Lease intangibles Revenues $ 13,913 $ 4,993 $ 3,747 As of December 31, 2022, estimated net annual amortization of intangibles is as follows: 2023 $ 12,229 2024 8,758 2025 5,853 2026 4,167 2027 908 Thereafter (505) Total $ 31,410

DEBT, NET

DEBT, NET	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
DEBT, NET	DEBT, NET Our debt, net is summarized as follows: December 31, 2022 December 31, 2021 Outstanding Borrowings Stated Interest Rate Maturity Date Outstanding Borrowings Loans payable Revolving Credit Facility (1) 150,000 (i) Base Rate + 1.75%; or (ii) Adjusted Term SOFR Rate + 2.75% 9/20/25 189,473 2021 Bridge Loans — (i) Base Rate + 1.75%; or (ii) Adjusted Term SOFR Rate + 2.75% 12/15/22 100,527 Total loans payable 150,000 290,000 Bonds payable Senior Notes due 2025 (2) 653,036 6.50% 10/1/25 852,198 Senior Notes due 2027 400,000 9.75% 8/1/27 400,000 Senior Notes due 2028 (3) 1,002,091 5.50% 5/1/28 1,002,416 Total bonds payable 2,055,127 2,254,614 Debt 2,205,127 2,544,614 Less: Debt issuance costs (29,400) (43,027) Total debt, net $ 2,175,727 $ 2,501,587 Total debt due within one year $ — $ 100,527 ______________________________________________________________________________________ (1) 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. (2) Includes unamortized discount of $1,318 and $3,509 at December 31, 2022 and 2021, respectively, and an unamortized premium of $4,354 and $5,707 at December 31, 2022 and 2021, respectively. (3) Includes an unamortized premium of $2,091 and $2,416 at December 31, 2022 and 2021, respectively. On September 20, 2022, the Company amended and restated its Revolving Credit Facility which provides for revolving loans to be made available to the Company in an aggregate principal amount of up to $225.0 million, of which up to $25.0 million may be utilized for the issuance of letters of credit. On November 22, 2022, the Company entered into an additional amendment which provides for additional revolving commitments by Citizens Bank, National Association, as an incremental lender in an aggregate principal amount of $75.0 million (the “Incremental Commitment”). After giving effect to the Incremental Commitment, the aggregate principal amount of the Commitments available to the Company is $300.0 million (the “Revolving Credit Facility”), of which up to $25.0 million may be utilized for the issuance of letters of credit. In conjunction with the spin-off of FTAI Infrastructure, the Company repaid all outstanding borrowings under its 2021 bridge loans and $200.0 million of its 6.50% senior unsecured notes due 2025, and approximately $175.0 million of the outstanding borrowings under its revolving credit facility. The Company recorded a loss on extinguishment of debt of $19.9 million as a result of these pay downs. We were in compliance with all debt covenants as of December 31, 2022. As of December 31, 2022, scheduled principal repayments under our debt agreements for the next five years and thereafter are summarized as follows: 2023 2024 2025 2026 2027 Thereafter Total Revolving Credit Facility — — 150,000 — — — 150,000 Senior Notes due 2025 — — 650,000 — — — 650,000 Senior Notes due 2027 — — — — 400,000 — 400,000 Senior Notes due 2028 — — — — — 1,000,000 1,000,000 Total principal payments on loans and bonds payable $ — $ — $ 800,000 $ — $ 400,000 $ 1,000,000 $ 2,200,000

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	12 Months Ended
	Dec. 31, 2022
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). 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, notes receivable, accounts payable and accrued liabilities, loans payable, security deposits, maintenance deposits and management fees payable, whose fair values approximate their carrying values based on an evaluation of pricing data, vendor quotes, and historical trading activity or due to their short maturity profiles. The fair values of our bonds payable reported as Debt, net in the Consolidated Balance Sheets are presented in the table below and classified as Level 2 within the fair value hierarchy: December 31, 2022 December 31, 2021 Senior Notes due 2025 613,152 881,408 Senior Notes due 2027 402,032 448,848 Senior Notes due 2028 853,490 1,019,470 The fair values of all other items reported as Debt, net in the Consolidated Balance Sheets approximate their carrying values due to their bearing market rates of interest and are classified as Level 2 within the fair value hierarchy.

REVENUES

REVENUES	12 Months Ended
	Dec. 31, 2022
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 are within the scope of ASC 842, Leases and ASC 606, Revenue from contracts with customers , unless otherwise noted. We have elected to exclude sales and other similar taxes from revenues. During the third quarter of 2022, we updated our corporate strategy based on the opportunities available in the market such that the sale of aircraft and engines is now an output of our recurring, ordinary activities. As a result of this update, the transaction price allocated to the sale of assets is included in Revenues in the Consolidated Statement of Operations for the third and fourth quarters of 2022 and are accounted for in accordance with ASC 606. The corresponding net book values of the assets sold are recorded in Cost of sales in the Consolidated Statement of Operations for the third and fourth quarters of 2022. Sales transactions of aircraft and engines prior to the third quarter of 2022 were accounted for in accordance with ASC 610-20, Gains and losses from the derecognition of nonfinancial assets and were included in Gain (loss) on sale of assets, net on the Consolidated Statement of Operations, as we were previously only occasionally selling these assets. Generally, assets sold were under leasing arrangements with customers prior to sales and were included in Leasing equipment, net, on the Consolidated Balance Sheets. Year Ended December 31, 2022 Aviation Leasing Aerospace Products Corporate and Other Total Revenues Lease income $ 158,628 $ — $ 20,246 $ 178,874 Maintenance revenue 148,846 — — 148,846 Finance lease income 440 — — 440 Asset sales revenue 208,500 — — 208,500 Aerospace products revenue — 153,550 — 153,550 Other revenue 11,499 — 6,702 18,201 Total revenues $ 527,913 $ 153,550 $ 26,948 $ 708,411 Year Ended December 31, 2021 Aviation Leasing Aerospace Products Corporate and Other Total Revenues Lease income $ 161,986 $ — $ 10,131 $ 172,117 Maintenance revenue 128,819 — — 128,819 Finance lease income 1,747 — — 1,747 Asset sales revenue — — — — Aerospace products revenue — 23,301 — 23,301 Other revenue 5,569 — 4,030 9,599 Total revenues $ 298,121 $ 23,301 $ 14,161 $ 335,583 Year Ended December 31, 2020 Aviation Leasing Aerospace Products Corporate and Other Total Revenues Lease income $ 166,331 $ — $ 11,145 $ 177,476 Maintenance revenue 101,462 — — 101,462 Finance lease income 2,260 — — 2,260 Asset sales revenue — — — — Aerospace products revenue — — — — Other revenue 11,158 — 5,578 16,736 Total revenues $ 281,211 $ — $ 16,723 $ 297,934 Presented below are the contracted minimum future annual revenues to be received under existing operating leases as of December 31, 2022: December 31, 2022 2023 $ 141,154 2024 86,337 2025 58,334 2026 39,465 2027 24,810 Thereafter 44,285 Total $ 394,385

EQUITY-BASED COMPENSATION

EQUITY-BASED COMPENSATION	12 Months Ended
	Dec. 31, 2022
Share-based Payment Arrangement [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 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. In August 2022, in connection with the spin-off of our Infrastructure business, each FTAI option held by eligible employees, consultants, directors and other individuals who provide services to us was converted into an adjusted FTAI option and a new FTAI Infrastructure option. The exercise price of each adjusted FTAI Infrastructure option was set to collectively maintain the intrinsic value of the FTAI option immediately prior to the spin-off and to maintain the ratio of the exercise price of the adjusted FTAI option and the FTAI Infrastructure option, respectively, to the fair market value of the underlying shares. The following tables present information for our stock options: Stock Options Options Weighted Average Exercise Price Outstanding as of December 31, 2021 3,762,742 $ 21.02 Granted — — Less: exercised / vested 2,027,426 14.52 Less: forfeited and canceled — — Outstanding as of December 31, 2022 1,735,316 Stock Options As of December 31, 2022: Weighted average exercise / issuance price (per share) $ 22.67 Aggregate intrinsic value (in thousands) $ 128 Weighted average remaining contractual term (in years) 8.5 During the year ended December 31, 2022, the Manager transferre d 336,862 of its options to certain of the Manager’s employees. Stock Options In connection with our equity offerings (see Note 15 for details), we granted options to the Manager related to ordinary shares. The fair value of these options was recorded as an increase in equity with an offsetting reduction of capital proceeds received. The following table presents information related to the options related to our shares: Year Ended December 31, 2021 2020 Number of options 1,684,318 129,988 Fair value ($ millions) $13.8 $0.7 Ranges Expected volatility The expected share volatility is based on an assessment of the volatility of our publicly traded ordinary shares 44.78 % - 45.60 % 61.27 % - 62.12 % Risk free interest rate The risk-free rate is determined using the implied yield currently available on U.S. government bonds with a term consistent with the expected term on the date of grant. 1.34 % - 1.70 % 0.51 % - 0.76 % Expected dividend yield The expected dividend yield is based on management’s current expected dividend rate. 3.16 % - 3.64 % 6.23 % - 11.79 % Expected term Expected term used represents the period of time the options granted are expected to be outstanding. 10 years 10 years

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The current and deferred components of the income tax (benefit) provision included in the Consolidated Statements of Operations are as follows: Year Ended December 31, 2022 2021 2020 Current: Cayman Islands $ — $ — $ — United States: Federal 522 $ 1,850 $ (114) State and local 1,687 $ 760 $ — Non-U.S. 443 $ (11) $ 537 Total current provision 2,652 $ 2,599 $ 423 Deferred: Cayman Islands — $ — $ — United States: Federal 1,305 $ 126 $ (474) State and local 242 $ 122 $ (142) Non-U.S. 1,101 $ 279 $ (4,150) Total deferred (benefit) provision 2,648 $ 527 $ (4,766) Provision for (benefit from) income taxes: Continuing operations 5,300 $ 3,126 $ (4,343) Discontinued operations 8,227 $ (4,183) $ (1,562) Total 13,527 $ (1,057) $ (5,905) The Company is an exempted entity domiciled in the Cayman Islands where income taxes are not imposed. The Company is considered a Passive Foreign Investment Company for U.S. income tax purposes and certain income taxes are imposed on 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. The difference between our reported total provision for income taxes and the Cayman Islands statutory rate of 0% is as follows: Year Ended December 31, 2022 2021 2020 Income subject to tax in the United States (6.9) % (7.2) % 0.3 % Foreign taxes 13.5 % (8.7) % 3.2 % Change in valuation allowance (11.6) % 8.0 % 6.5 % Provision for income taxes (5.0) % (7.9) % 10.0 % Significant components of our deferred tax assets and liabilities are as follows: December 31, 2022 2021 Deferred tax assets: Net operating loss carryforwards $ 43,116 $ 27,154 Interest expense 2,754 1,530 Investment in Partnerships 963 1,519 Other 272 320 Total deferred tax assets 47,105 30,523 Less valuation allowance (27,565) (9,142) Net deferred tax assets 19,540 21,381 Deferred tax liabilities: Fixed assets (22,794) (20,072) Net deferred tax liabilities $ (3,254) $ 1,309 Deferred tax assets and liabilities are reported net in Other assets or Other liabilities in the Consolidated Balance Sheets. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which temporary differences become deductible. We have analyzed our deferred tax assets and have determined, based on the weight of available evidence, that it is more likely than not that a significant portion will not be realized. Accordingly, valuation allowances have been recognized as of December 31, 2022, 2021 and 2020 of $27.6 million, $9.1 million and $ 6.8 million , res pectively, related to certain deductible temporary differences and net operating loss carryforwards. A summary of the changes in the valuation allowance is as follows: December 31, 2022 2021 2020 Valuation allowance at beginning of period $ 9,142 $ 6,794 $ 2,603 Change due to current year losses 22,094 2,356 4,191 Change due to current year releases (3,671) (8) — Valuation allowance at end of period $ 27,565 $ 9,142 $ 6,794 As of December 31, 2022, certain of our corporate subsidiaries had U.S. federal net operating loss carryforwards of approximately $39.3 million that are available to offset future taxable income. If not utilized, $0.6 million of these carryforwards will begin to expire in the year 2037, with $38.7 million of these carryforwards having no expiration date. As of December 31, 2022, we also had net operating loss carryforwards for Irish income tax purposes of $250.1 million, which can be carried forward indefinitely against future business income, $1.3 million of net operating loss carryforwards for Malaysian income tax purposes, which will begin to expire in the year 2027, and $5.4 million of net operating loss carryforward for Australian income tax purpose, which can be carried forward indefinitely against the future business income. The utilization of the net operating loss carryforwards to reduce future income taxes will depend on the relevant corporate subsidiary's ability to generate sufficient taxable income prior to the expiration of the carryforward period, if any. In addition, the maximum annual use of net operating loss carryforwards may be limited after certain changes in share ownership.

MANAGEMENT AGREEMENT AND AFFILI

MANAGEMENT AGREEMENT AND AFFILIATE TRANSACTIONS	12 Months Ended
	Dec. 31, 2022
Related Party Transactions [Abstract]
MANAGEMENT AGREEMENT AND AFFILIATE TRANSACTIONS	MANAGEMENT AGREEMENT AND AFFILIATE TRANSACTIONS In connection with the spin-off of FTAI Infrastructure on August 1, 2022, we assigned our then-existing management and advisory agreement, dated as of May 20, 2015, with our Manager to FTAI Infrastructure. On July 31, 2022, we entered into a new management and advisory agreement (the “Management Agreement”), by and among FTAI, FTAI Finance Holdco Ltd. (a wholly owned subsidiary of the Company), and each of the subsidiaries that are party thereto and the Manager, with substantially similar terms and conditions as the existing management and advisory agreement. 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. In May 2015, in connection with our IPO, we entered into the Management Agreement. Additionally, we have entered into certain incentive allocation arrangements with Master GP, which owns approximately 0.01% of FTAI Aviation Holdco Ltd. The Manager is entitled to a management fee 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 U.S. 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. Master GP is entitled to incentive allocations (comprised of income incentive allocation and capital gains incentive allocation, defined below). 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 U.S. 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 Master GP during the relevant quarter. One of our subsidiaries allocates and distributes to 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 Master GP. The following table summarizes the management fees, income incentive allocation and capital gains incentive allocation from continuing operations: Year Ended December 31, 2022 2021 2020 Management fees $ 73 $ 684 $ 5,446 Income incentive allocation 3,489 — — Capital gains incentive allocation — — — Total $ 3,562 $ 684 $ 5,446 We 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 by 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 from continuing operations: Year Ended December 31, 2022 2021 2020 Classification in the Consolidated Statements of Operations: General and administrative expenses $ 6,891 $ 4,915 $ 5,499 Acquisition and transaction expenses 1,144 2,153 2,081 Total $ 8,035 $ 7,068 $ 7,580 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 Master GP if 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 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 an offering of our ordinary shares or other equity securities (including securities issued as consideration in an acquisition), we grant the Manager options to purchase ordinary shares in an amount equal to 10% of the number of ordinary shares being sold in the offering (or if the issuance relates to equity securities other than our ordinary shares, options to purchase a number of ordinary shares equal to 10% of the gross capital raised in the equity issuance divided by the fair market value of a ordinary 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 ordinary share as of the date of the equity issuance if it relates to equity securities other than our ordinary shares). Any ultimate purchaser of ordinary shares for which such options are granted may be an affiliate of the Manager. The following table summarizes amounts due to the Manager, which are included within accounts payable and accrued liabilities in the Consolidated Balance Sheets: December 31, 2022 2021 Accrued management fees $ 53 $ 1,495 Other payables 4,688 2,283

SEGMENT INFORMATION

SEGMENT INFORMATION	12 Months Ended
	Dec. 31, 2022
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION As a result of the spin-off of FTAI Infrastructure effective on August 1, 2022, the Company reevaluated its operating segments. The key factors used to identify the reportable segments are the organization and alignment of our internal operations and the nature of our products and services. Our two reportable segments are (i) Aviation Leasing and (ii) Aerospace Products. The Aviation Leasing segment owns and manages aviation assets, including aircraft and aircraft engines, which it leases and sells to customers. The Aerospace Products segment develops and manufactures through a joint venture, and repairs and sells, through exclusivity arrangements, aftermarket components for aircraft engines. The information for the year ended December 31, 2022 discloses the reportable segments on this basis, and prior periods have been restated to reflect the change in accordance with the requirements of ASC 280 – Segment Reporting . Corporate and Other primarily consists of debt, unallocated corporate general and administrative expenses, shared services costs, and management fees. Additionally, Corporate and Other also includes offshore energy related assets, which consist of vessels and equipment that support offshore oil and gas activities and production which are typically subject to operating leases. 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. Our Chief Executive Officer is our Chief Operating Decision Maker (“CODM”). Segment information is presented in the same manner that our CODM reviews the operating results in assessing performance and allocating resources. The CODM evaluates performance for each reportable segment primarily based on Adjusted EBITDA. Historically, the CODM’s assessment of segment performance included asset information. During the third quarter of 2022, the CODM determined that segment asset information is not a key factor in measuring performance or allocating resources. Therefore, segment asset information is not included in the tables below as it is not provided to or reviewed by our CODM. During the year, the Company changed its measure of segment profit to include the add back of dividends on preferred shares in Adjusted EBITDA. Prior period Adjusted EBITDA amounts and the reconciliation to net income (loss) attributable to shareholders from continuing operations have been recast to reflect this change in the measure of segment profit. Adjusted EBITDA is defined as net income (loss) attributable to shareholders from continuing operations, adjusted (a) to exclude the impact of provision for (benefit from) 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, dividends on preferred shares 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 (loss) attributable to shareholders from continuing operations, as defined by U.S. 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 (loss) attributable to shareholders as determined in accordance with U.S. GAAP. The following tables set forth certain information for each reportable segment: I. For the Year Ended December 31, 2022 Year Ended December 31, 2022 Aviation Leasing Aerospace Products Corporate and Other Total Revenues $ 527,913 $ 153,550 $ 26,948 $ 708,411 Expenses Cost of sales 159,490 88,895 — 248,385 Operating expenses 81,232 11,967 39,065 132,264 General and administrative — — 14,164 14,164 Acquisition and transaction expenses 1,923 243 11,041 13,207 Management fees and incentive allocation to affiliate — — 3,562 3,562 Depreciation and amortization 144,258 258 8,401 152,917 Asset impairment 137,219 — — 137,219 Interest expense — — 169,194 169,194 Total expenses 524,122 101,363 245,427 870,912 Other income (expense) Equity in earnings (losses) of unconsolidated entities 740 (1,109) — (369) Gain on sale of assets, net 58,649 18,562 — 77,211 Loss on extinguishment of debt — — (19,859) (19,859) Other income (expense) 246 — (39) 207 Total other income (expense) 59,635 17,453 (19,898) 57,190 Income (loss) from continuing operations before income taxes 63,426 69,640 (238,377) (105,311) Provision for (benefit from) income taxes 2,502 2,961 (163) 5,300 Net income (loss) from continuing operations 60,924 66,679 (238,214) (110,611) Less: Net loss from continuing operations attributable to non-controlling interests in consolidated subsidiaries — — — — Less: Dividends on preferred shares — — 27,164 27,164 Net income (loss) attributable to shareholders from continuing operations $ 60,924 $ 66,679 $ (265,378) $ (137,775) The following table sets forth a reconciliation of Adjusted EBITDA to net loss attributable to shareholders from continuing operations: Year Ended December 31, 2022 Aviation Leasing Aerospace Products Corporate and Other Total Adjusted EBITDA $ 384,125 $ 70,365 $ (26,393) $ 428,097 Add: Non-controlling share of Adjusted EBITDA — Add: Equity in losses of unconsolidated entities (369) Less: Pro-rata share of Adjusted EBITDA from unconsolidated entities (40) Less: Interest expense and dividends on preferred shares (196,358) Less: Depreciation and amortization expense (190,031) Less: Incentive allocations (3,489) Less: Asset impairment charges (137,219) Less: Changes in fair value of non-hedge derivative instruments — Less: Losses on the modification or extinguishment of debt and capital lease obligations (19,859) Less: Acquisition and transaction expenses (13,207) Less: Equity-based compensation expense — Less: Provision for income taxes (5,300) Net loss attributable to shareholders from continuing operations $ (137,775) Summary information with respect to our geographic sources of revenue, based on location of customer, is as follows: Year Ended December 31, 2022 Aviation Leasing Aerospace Products Corporate and Other Total Revenues Africa $ 250 $ 1,615 $ — $ 1,865 Asia 84,953 12,731 26,948 124,632 Europe 130,128 37,495 — 167,623 North America 270,514 101,632 — 372,146 South America 42,068 77 — 42,145 Total revenues $ 527,913 $ 153,550 $ 26,948 $ 708,411 II. For the Year Ended December 31, 2021 Year Ended December 31, 2021 Aviation Leasing Aerospace Products Corporate and Other Total Revenues $ 298,121 $ 23,301 $ 14,161 $ 335,583 Expenses Cost of sales — 14,308 — 14,308 Operating expenses 32,757 5,429 21,429 59,615 General and administrative — — 13,448 13,448 Acquisition and transaction expenses 982 — 16,929 17,911 Management fees and incentive allocation to affiliate — — 684 684 Depreciation and amortization 139,678 66 7,996 147,740 Asset impairment 10,463 — — 10,463 Interest expense — — 155,017 155,017 Total expenses 183,880 19,803 215,503 419,186 Other (expense) income Equity in losses of unconsolidated entities — (1,403) — (1,403) Gain on sale of assets, net 29,098 19,917 — 49,015 Loss on extinguishment of debt — — (3,254) (3,254) Other (expense) income (527) — 37 (490) Total other income (expense) 28,571 18,514 (3,217) 43,868 Income (loss) from continuing operations before income taxes 142,812 22,012 (204,559) (39,735) Provision for (benefit from) income taxes 2,073 1,135 (82) 3,126 Net income (loss) from continuing operations 140,739 20,877 (204,477) (42,861) Less: Net loss from continuing operations attributable to non-controlling interests in consolidated subsidiaries — — — — Less: Dividends on preferred shares — — 24,758 24,758 Net income (loss) attributable to shareholders from continuing operations $ 140,739 $ 20,877 $ (229,235) $ (67,619) The following table sets forth a reconciliation of Adjusted EBITDA to net loss attributable to shareholders from continuing operations: Year Ended December 31, 2021 Aviation Leasing Aerospace Products Corporate and Other Total Adjusted EBITDA $ 321,913 $ 22,278 $ (21,363) $ 322,828 Add: Non-controlling share of Adjusted EBITDA — Add: Equity in losses of unconsolidated entities (1,403) Less: Pro-rata share of Adjusted EBITDA from unconsolidated entities 1,203 Less: Interest expense and dividends on preferred shares (179,775) Less: Depreciation and amortization expense (175,718) Less: Incentive allocations — Less: Asset impairment charges (10,463) Less: Changes in fair value of non-hedge derivative instruments — Less: Losses on the modification or extinguishment of debt and capital lease obligations (3,254) Less: Acquisition and transaction expenses (17,911) Less: Equity-based compensation expense — Less: Provision for income taxes (3,126) Net loss attributable to shareholders from continuing operations $ (67,619) Summary information with respect to our geographic sources of revenue, based on location of customer, is as follows: Year Ended December 31, 2021 Aviation Leasing Aerospace Products Corporate and Other Total Revenues Africa $ 235 $ — $ — $ 235 Asia 114,313 — 14,161 128,474 Europe 131,205 2,333 — 133,538 North America 41,228 20,968 — 62,196 South America 11,140 — — 11,140 Total revenues $ 298,121 $ 23,301 $ 14,161 $ 335,583 III. For the Year Ended December 31, 2020 Year Ended December 31, 2020 Aviation Leasing Aerospace Products Corporate and Other Total Revenues $ 281,211 $ — $ 16,723 $ 297,934 Expenses Operating expenses 20,667 — 19,454 40,121 General and administrative — — 14,106 14,106 Acquisition and transaction expenses 6,687 — 3,181 9,868 Management fees and incentive allocation to affiliate — — 5,446 5,446 Depreciation and amortization 133,904 — 7,382 141,286 Asset impairment 33,978 — — 33,978 Interest expense — — 87,442 87,442 Total expenses 195,236 — 137,011 332,247 Other income (expense) Equity in losses of unconsolidated entities (1,932) — — (1,932) Loss on sale of assets, net (300) — — (300) Loss on extinguishment of debt — — (6,943) (6,943) Other income 94 — — 94 Total other expense (2,138) — (6,943) (9,081) Income (loss) from continuing operations before income taxes 83,837 — (127,231) (43,394) (Benefit from) provision for income taxes (4,812) — 469 (4,343) Net income (loss) from continuing operations 88,649 — (127,700) (39,051) Less: Net loss from continuing operations attributable to non-controlling interests in consolidated subsidiaries — — — — Less: Dividends on preferred shares — — 17,869 17,869 Net income (loss) attributable to shareholders from continuing operations $ 88,649 $ — $ (145,569) $ (56,920) The following table sets forth a reconciliation of Adjusted EBITDA to net loss attributable to shareholders from continuing operations: Year Ended December 31, 2020 Aviation Leasing Aerospace Products Corporate and Other Total Adjusted EBITDA $ 288,752 $ — $ (22,283) $ 266,469 Add: Non-controlling share of Adjusted EBITDA — Add: Equity in losses of unconsolidated entities (1,932) Less: Pro-rata share of Adjusted EBITDA from unconsolidated entities 1,932 Less: Interest expense and dividends on preferred shares (105,311) Less: Depreciation and amortization expense (171,632) Less: Incentive allocations — Less: Asset impairment charges (33,978) Less: Changes in fair value of non-hedge derivative instruments — Less: Losses on the modification or extinguishment of debt and capital lease obligations (6,943) Less: Acquisition and transaction expenses (9,868) Less: Equity-based compensation expense — Less: Benefit from income taxes 4,343 Net loss attributable to shareholders from continuing operations $ (56,920) Summary information with respect to our geographic sources of revenue, based on location of customer, is as follows: Year Ended December 31, 2020 Aviation Leasing Aerospace Products Corporate and Other Total Revenues Africa $ 10,259 $ — $ — $ 10,259 Asia 110,057 — 16,637 126,694 Europe 124,670 — — 124,670 North America 32,961 — 86 33,047 South America 3,264 — — 3,264 Total revenues $ 281,211 $ — $ 16,723 $ 297,934 IV. Location of long-lived assets The following tables sets forth summarized geographic location of property, plant and equipment and leasing equipment, net: December 31, 2022 December 31, 2021 Total Property, plant and equipment and leasing equipment, net Africa $ 7,952 $ — Asia 383,378 543,609 Europe 821,840 839,555 North America 424,617 265,203 South America 285,780 245,533 Total property, plant and equipment and leasing equipment, net $ 1,923,567 $ 1,893,900

EARNINGS PER SHARE AND EQUITY

EARNINGS PER SHARE AND EQUITY	12 Months Ended
	Dec. 31, 2022
Earnings Per Share [Abstract]
EARNINGS PER SHARE AND EQUITY	EARNINGS PER SHARE AND EQUITY Basic earnings per ordinary share (“EPS”) is calculated by dividing net loss attributable to shareholders by the weighted average number of ordinary shares outstanding, plus any participating securities. Diluted EPS is calculated by dividing net income attributable to shareholders by the weighted average number of ordinary 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. Year Ended December 31, (in thousands, except share and per share data) 2022 2021 2020 Net loss from continuing operations $ (110,611) $ (42,861) $ (39,051) Net loss from discontinued operations, net of income taxes (101,416) (87,845) (64,641) Net loss (212,027) (130,706) (103,692) Less: Net loss attributable to non-controlling interests in consolidated subsidiaries: Continuing operations — — — Discontinued operations (18,817) (26,472) (16,522) Less: Dividends on preferred shares 27,164 24,758 17,869 Net loss attributable to shareholders $ (220,374) $ (128,992) $ (105,039) Weighted Average Ordinary Shares Outstanding - Basic (1) 99,421,008 89,922,088 86,015,702 Weighted Average Ordinary Shares Outstanding - Diluted (1) 99,421,008 89,922,088 86,015,702 Loss per share: Basic Continuing operations $ (1.39) $ (0.75) $ (0.66) Discontinued operations $ (0.83) $ (0.68) $ (0.56) Diluted Continuing operations $ (1.39) $ (0.75) $ (0.66) Discontinued operations $ (0.83) $ (0.68) $ (0.56) ________________________________________________________ (1) Years ended December 31, 2022, 2021 and 2020 include participating securities which can be converted into a fixed amount of our shares. The calculation of Diluted EPS excludes 582,200, 898,299 and 24,652 shares for the years ended December 31, 2022, 2021 and 2020, respectively, because the impact would be anti-dilutive. During the year ended December 31, 2022, 19,811 ordinary shares were issued to certain directors as compensation. Ordinary Shares In September 2021, 12,000,000 ordinary shares, par value $0.01 per share, were issued at a price of $25.50 per share for net proceeds of $291.7 million after deducting underwriting discounts and offering expenses. In October 2021, the underwriters exercised an option to purchase an additional 1,283,863 ordinary shares, par value $0.01 per share, at a price of $25.50 per share. See Note 11 for information related to options issued to the Manager in connection with such offering. Preferred Shares In March 2021, in a public offering, 4,200,000 shares of 8.25% Fixed-Rate Reset Series C Cumulative Perpetual Redeemable Preferred Shares (“Series C Preferred Shares”), par value $0.01 per share, were issued with a liquidation preference of $25.00 per share for net proceeds of approximately $101.2 million. On June 30, 2020, an At Market Issuance Sales Agreement was executed with a third party to sell shares of Fixed-to-Floating Rate Series A Cumulative Perpetual Redeemable Preferred Shares (“Series A Preferred Shares”) and Fixed-to-Floating Rate Series B Cumulative Perpetual Redeemable Preferred Shares (“Series B Preferred Shares”, collectively, the “ATM Shares”), having an aggregate offering price of up to $100 million, from time to time, through an “at-the market” equity offering program (the “ATM Program”). During the year ended December 31, 2020, 1,070,000 ATM Shares were sold at a weighted average price of $19.54 per share for net proceeds of $20.6 million. In connection with the shares sold under the ATM Program, the Manager was granted 129,988 ordinary shares, which had a grant date fair value of $0.7 million. In September 2019, in a public offering, 3,450,000 shares of 8.25% Series A Preferred Shares, par value $0.01 per share, were issued with a liquidation preference of $25.00 per share for net proceeds of approximately $82.9 million. In November 2019, in a public offering, 4,600,000 shares of 8.00% Series B Preferred Shares, par value $0.01 per share, were issued with a liquidation preference of $25.00 per share for net proceeds of approximately $111.1 million. See Note 11 for information related to options issued to the Manager in connection with these offerings.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES In the normal course of business, the Company and its 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 its obligation under its 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.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2022
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS In January 2023, we issued 12,165 ordinary shares to certain directors as compensation. Dividends On February 23, 2023, our Board of Directors declared a cash dividend on our ordinary shares and eligible participating securities of $0.30 per share for the quarter ended December 31, 2022, payable on March 22, 2023 to the holders of record on March 10, 2023. Additionally, on February 23, 2023, our Board of Directors declared cash dividends on the Series A Preferred Shares, Series B Preferred Shares and Series C Preferred Shares of $0.52, $0.50 and $0.52 per share, respectively, for the quarter ended December 31, 2022, payable on March 15, 2023 to the holders of record on March 7, 2023. Acquisition On January 4, 2023, the Company completed the acquisition of its 50% interest (45% pro rata distribution of income until return of JV partner's initial investment) in iAero Thrust LLC (“iAero Thrust”), a hospital maintenance and testing facility dedicated to the CFM56 engine, for $19.5 million.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2022
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 (“U.S. 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 intercompany transactions and balances have been eliminated. 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 as well as the proportionate interest in adjustments to other comprehensive income (loss).
Use of Estimates	Use of Estimates —The preparation of financial statements in conformity with U.S. 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 are denominated in U.S. dollars.
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. Restricted Cash —Restricted cash consists of funds required for the Company’s investment in iAero Thrust as described in subsequent events (Note 17).
Inventory	Inventory—We hold aircraft engine modules, spare parts and used material inventory for trading and to support operations. Inventory is carried at the lower of cost or net realizable value on our consolidated balance sheets.
Property, Plant and Equipment, Leasing Equipment and Depreciation	Property, Plant and Equipment, Leasing Equipment and Depreciation —Property, plant and equipment and leasing equipment are stated at cost (inclusive of capitalized acquisition costs, where applicable) and depreciated using the straight-line method, over estimated useful lives, to estimated residual values which are summarized as follows: Asset Range of Estimated Useful Lives Residual Value Estimates Aircraft 25 years from date of manufacture Generally not to exceed 15% of manufacturer’s list price when new Aircraft engines 2 - 6 years, based on maintenance adjusted service life Sum of engine core salvage value plus the estimated fair value of life limited parts Aviation tooling and equipment 3 - 6 years from date of purchase Scrap value at end of useful life Offshore energy vessels 25 years from date of manufacture 10% of new build cost Furniture and fixtures 3 - 6 years from date of purchase None Computer hardware and software 2 - 5 years from date of purchase None Construction in progress N/A N/A Major improvements and modifications incurred in connection with the acquisition of property, plant and equipment and leasing equipment that are required to get the asset ready for initial service are capitalized and depreciated over the remaining life of the asset. Project costs of major additions and betterments, including capitalizable engineering costs and other costs directly related to the development or construction of project, are capitalized and depreciation commences once it is placed into service. Interest costs directly related to and incurred during the construction period of property, plant and equipment are capitalized. We review our depreciation policies on a regular basis to determine whether changes have taken place that would suggest that a change in our depreciation policies, useful lives of our equipment or the assigned residual values is warranted. For planned major maintenance or component overhaul activities for aviation equipment off lease, the cost of such major maintenance or component overhaul event is capitalized and depreciated on a straight-line basis over the period until the next maintenance or component overhaul event is required. Our offshore energy vessels are required to be drydocked periodically for recertifications or major repairs and maintenance that cannot be performed while the vessels are operating. Normal repairs and maintenance are expensed as incurred. We capitalize the costs associated with the drydockings and amortize them on a straight-line basis over the period between drydockings, usually during a 60 month time span. In accounting for leasing equipment, we make estimates about the expected useful lives, residual values and the fair value of acquired in-place leases and acquired maintenance liabilities (for aviation equipment). In making these estimates, we rely upon observable market data for the same or similar types of equipment and, in the case of aviation equipment, our own estimates with respect to a lessee’s anticipated utilization of the aircraft or engine. When we acquire leasing equipment subject to an in-place lease, determining the fair value of the in-place lease requires us to make assumptions regarding the current fair values of leases for identical or similar equipment, in order to determine if the in-place lease is within a fair value range of current lease rates. If a lease is below or above the range of current lease rates, the resulting lease discount or premium is recognized as a lease intangible and amortized into lease income over the remaining term of the lease.
Capitalized Interest	Capitalized Interest—The interest cost associated with major development and construction projects are capitalized and included in the cost of the project. Interest capitalization ceases once a project is substantially complete or no longer undergoing construction activities to prepare it for its intended use.
Repairs and Maintenance	Repairs and Maintenance—Repair and maintenance costs that do not extend the lives of the assets are expensed as incurred.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets —We perform a recoverability assessment of each of our long-lived assets whenever events or changes in circumstances, or indicators, indicate that the carrying amount or net book value of an asset may not be recoverable. Indicators may include, but are not limited to, a significant lease restructuring or early lease termination; significant traffic decline; a significant change in market conditions; or the introduction of newer technology aircraft, vessels or engines. When performing a recoverability assessment, we measure whether the estimated future undiscounted net cash flows expected to be generated by the asset exceeds its net book value. The undiscounted cash flows consist of cash flows from currently contracted leases and contracts, future projected leases, transition costs, estimated down time and estimated residual or scrap values. In the event that an asset does not meet the recoverability test, the carrying value of the asset will be adjusted to fair value resulting in an impairment charge. Management develops the assumptions used in the recoverability analysis based on its knowledge of active contracts, current and future expectations of the global demand for a particular asset and historical experience in the leasing markets, as well as information received from third party industry sources. The factors considered in estimating the undiscounted cash flows are impacted by changes in future periods due to changes in contracted lease rates, residual values, economic conditions, technology, demand for a particular asset type and other factors.
Security Deposits	Security Deposits —Our operating leases generally require the lessee to pay a security deposit or provide a letter of credit. Security deposits are held until specified return dates stipulated in the lease or lease expiration.
Maintenance Payments	Maintenance Payments —Typically, under an operating lease of aircraft, the lessee is responsible for performing all maintenance and is generally required to make maintenance payments to us for heavy maintenance, overhaul or replacement of certain high-value components of the aircraft or engine. These maintenance payments are based on hours or cycles of utilization or on calendar time, depending on the component, and are generally required to be made monthly in arrears. If a lessee is making monthly maintenance payments, we would typically be obligated to reimburse the lessee for costs they incur for heavy maintenance, overhaul or replacement of certain high-value components to the extent of maintenance payments received in respect of the specific maintenance event, usually shortly following the completion of the relevant work. We record the portion of maintenance payments paid by the lessee that are expected to be reimbursed as maintenance deposit liabilities in the Consolidated Balance Sheets. Reimbursements made to the lessee upon the receipt of evidence of qualifying maintenance work are recorded against the maintenance deposit liability.
Lease Incentives and Amortization	Lease Incentives and Amortization—Lease incentives, which include lease acquisition costs related to reconfiguration of the aircraft cabin, other lessee specific modifications and other direct costs, are capitalized and amortized as a reduction of lease income over the primary term of the lease, assuming no lease renewals.
Intangibles and amortization	Intangibles and amortization —Intangibles include the value of acquired favorable and unfavorable leases.
Discontinued Operations	Discontinued Operations —
Revenues	Revenues Operating Leases —We lease equipment pursuant to 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 cost of maintenance events 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. Estimates in recognizing revenue include mean time between removal, projected costs for engine maintenance and forecasted utilization of aircraft which are affected by historical usage patterns and overall industry, market and economic conditions. Significant changes to these estimates could have a material effect on the amount of revenue recognized in the period. For purchase and lease back transactions, we account for the transaction as a single arrangement. We allocate the consideration paid based on the relative fair value of the aircraft and lease. The fair value of the lease may include a lease premium or discount, which is recorded as a favorable or unfavorable lease intangible. 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 that equals or exceeds substantially all of the fair value of the leased equipment at the date of lease inception. Net investment in finance leases 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. Asset sales revenue —Asset sales revenue primarily consists of the transaction price related to the sale of aircraft and aircraft engines from our Aviation Leasing segment. From time to time, the Company may also assign the related lease agreements to the customer as part of the sale of these asset s. We routinely sell leasing equipment to customers and such transactions are considered recurring and ordinary in nature to our business. As such, these sales are accounted for within the scope of ASC 606. Revenue is recognized when a performance obligation is satisfied by transferring control over an asset to a customer. Revenue is recorded with corresponding costs of sales, presented on a gross basis in the Consolidated Statements of Operations. See Note 10 for additional information. Aerospace Products revenue —Aerospace Products revenue primarily consists of the transaction price related to the sale of repaired CFM56-7B and CFM56-5B engines, engine modules, spare parts and used material inventory, and are accounted for within the scope of ASC 606. Revenue is recognized when a performance obligation is satisfied by transferring control over the related asset to a customer. Revenue is recorded with corresponding costs of sales, presented on a gross basis in the Consolidated Statements of Operations. 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 included in Other assets and Other liabilities in our Consolidated Balance Sheets, respectively. Finance lease ROU assets are recognized in Other assets 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. Operating lease 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 and is recorded in Operating expenses in the Consolidated Statements of Operations. 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	Concentration of Credit Risk—We are subject to concentrations of credit risk with respect to amounts due from customers. We attempt to limit our credit risk by performing ongoing credit evaluations.
Allowance for Doubtful Accounts	Allowance for Doubtful Accounts—We determine the allowance 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 for pensions and other postretirement benefits of discontinued operations, and other comprehensive income related to cash flow hedges of our equity method investees of discontinued operations. These changes are also recorded in Accumulated other comprehensive loss in our Consolidated Balance Sheets. The cash flow impact of derivative contracts held by the equity method investees that are not designated as hedging instruments is recognized in Equity in losses (earnings) in unconsolidated entities in our Consolidated Statements of Cash Flows, and the cash flow impact of commodity derivatives held by our consolidated subsidiaries is recognized in Change in fair value of non-hedge derivatives in our Consolidated Statements of Cash Flows.
Recent Accounting Pronouncements	Recent Accounting Pronouncements —In July 2021, the FASB issued ASU 2021-05, Leases (Topic 842): Lessors—Certain Leases with Variable Lease Payments . This ASU requires lessors to classify and account for a lease with variable lease payments that do not depend on a reference index or a rate as an operating lease if (i) the lease would have been classified as a sales-type lease or a direct financing lease under Topic 842 and (ii) the lessor would have otherwise recognized a day-one loss. This standard is effective for all reporting periods beginning after December 15, 2021. We adopted this guidance in the first quarter of 2022, which did not have a material impact 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). 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.
Variable Interest Entity	Variable Interest Entity 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.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Summary of Allowance for Credit Loss	The activity in the allowance for doubtful accounts is as follows: December 31, 2022 2021 2020 Allowance at beginning of period $ 17,703 $ 4,823 $ 1,227 Provision for credit losses 47,877 12,880 3,596 Allowance at end of period $ 65,580 $ 17,703 $ 4,823

DISCONTINUED OPERATIONS (Tables

DISCONTINUED OPERATIONS (Tables)	12 Months Ended
	Dec. 31, 2022
Discontinued Operations and Disposal Groups [Abstract]
Disposal Groups, Including Discontinued Operations	The following table presents the significant components of net loss from discontinued operations: Year Ended December 31, 2022 2021 2020 Revenues Total revenues $ 140,009 $ 120,219 $ 68,562 Expenses Cost of sales 12,732 — 10,864 Operating expense 92,478 98,541 58,527 General and administrative expenses 2,694 3,961 4,053 Acquisition and transaction expenses 13,971 4,030 — Management fees and incentive allocation to affiliate 8,134 15,638 13,073 Depreciation and amortization 40,319 54,016 31,114 Interest expense 15,105 16,019 10,764 Total expenses 185,433 192,205 128,395 Equity in losses of unconsolidated entities (46,602) (11,331) (3,107) Gain on sale of assets, net 258 16 1,323 Loss on extinguishment of debt — — (4,724) Other (expense) income (1,421) (8,727) 138 Total other expense (47,765) (20,042) (6,370) Loss before income taxes (93,189) (92,028) (66,203) Provision for (benefit from) income taxes 8,227 (4,183) (1,562) Net loss from discontinued operations, net of income taxes (101,416) (87,845) (64,641) Less: Net loss attributable to non-controlling interests in consolidated subsidiaries (18,817) (26,472) (16,522) Net loss attributable to shareholders $ (82,599) $ (61,373) $ (48,119) The following table summarizes the carrying value of the major classes of assets and liabilities of discontinued operations as of December 31, 2021: December 31, 2021 Assets Cash and cash equivalents $ 49,872 Restricted cash 251,983 Accounts receivable, net 50,301 Leasing equipment, net 36,012 Operating lease right-of-use assets, net 71,547 Property, plant and equipment, net 1,517,594 Investments 54,408 Intangible assets, net 67,737 Goodwill 257,137 Other assets 85,710 Total assets of discontinued operations 2,442,301 Liabilities Accounts payable and accrued liabilities 115,634 Debt, net 718,624 Operating lease liabilities 70,404 Other liabilities 75,593 Total liabilities of discontinued operations 980,255 The cash flows related to discontinued operations have not been segregated, and are included in the Consolidated Statements of Cash Flows for all periods presented. The following table summarizes depreciation and amortization, capital expenditures, and other significant operating and investing noncash items of discontinued operations for each period presented: Year Ended December 31, 2022 2021 2020 Operating activities: Equity in losses of unconsolidated entities $ 46,601 $ 11,331 $ 3,107 Depreciation and amortization 40,319 54,016 31,114 Equity-based compensation 2,623 4,038 2,325 Investing activities: Acquisition of property, plant and equipment $ (129,920) $ (140,896) $ (247,961) Acquisition of business, net of cash acquired (3,819) (627,090) — Investment in unconsolidated entities 7,954 53,055 (4,690) Proceeds from sale of property, plant and equipment 5,289 4,494 — Non-cash change in equity method investment (182,963) (129,907) (26,609) Conversion of interests in unconsolidated entities (21,302) — — December 31, 2021 Balance Sheet Assets Cash and cash equivalents $ 2,932 Restricted cash 32,469 Accounts receivable, net 17,896 Property, plant, and equipment, net 764,607 Intangible assets, net 4,940 Goodwill 89,390 Inventory, net 1,691 Other assets 12,750 Total assets $ 926,675 Liabilities Accounts payable and accrued liabilities $ 16,121 Debt, net 604,261 Derivative liabilities 339,033 Other liabilities 2,246 Total liabilities 961,661 Equity Shareholders’ equity (1,035) Accumulated deficit (33,951) Total equity (34,986) Total liabilities and equity $ 926,675 Income Statement 2022 2021 2020 Total revenues $ 15,199 $ 85,638 $ 24,917 Expenses Operating expenses 36,693 28,310 16,339 Depreciation and amortization 29,381 24,836 11,004 Interest expense 30,622 11,005 2,037 Total expenses 96,696 64,151 29,380 Total other expense (234) (44,302) (1,967) Net loss $ (81,731) $ (22,815) $ (6,430)

LEASING EQUIPMENT, NET (Tables)

LEASING EQUIPMENT, NET (Tables)	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
Lessor, Operating Lease, Carrying Value of Assets Subject to Leases	Leasing equipment, net is summarized as follows: December 31, 2022 2021 Leasing equipment $ 2,413,230 $ 2,312,040 Less: Accumulated depreciation (499,677) (456,403) Leasing equipment, net $ 1,913,553 $ 1,855,637
Lessor, Acquisition and Disposition of Leasing Equipment	The following table presents information related to acquisitions and dispositions of aviation leasing equipment: Year Ended December 31, 2022 2021 2020 Acquisitions: Aircraft 39 52 20 Engines 64 60 37 Dispositions: Aircraft 8 4 — Engines 71 56 25
Operating Lease, Lease Income	Depreciation expense for leasing equipment is summarized as follows: Year Ended December 31, 2022 2021 2020 Depreciation expense for leasing equipment $ 152,378 $ 147,444 $ 141,161

PROPERTY, PLANT AND EQUIPMENT_2

PROPERTY, PLANT AND EQUIPMENT, NET (Tables)	12 Months Ended
	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property, plant and equipment, net is summarized as follows: December 31, 2022 2021 Construction in progress 7,864 36,777 Furniture and fixtures 1,449 1,374 Other 1,661 533 10,974 38,684 Less: Accumulated depreciation (960) (421) Property, plant and equipment, net $ 10,014 $ 38,263
Depreciation	Depreciation expense for property, plant and equipment is summarized as follows: Year Ended December 31, 2022 2021 2020 Depreciation expense $ 539 $ 295 $ 126

INVESTMENTS (Tables)

INVESTMENTS (Tables)	12 Months Ended
	Dec. 31, 2022
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments	The following table presents the ownership interests and carrying values of our investments: Carrying Value Investment Ownership Percentage December 31, 2022 December 31, 2021 Advanced Engine Repair JV Equity method 25% $ 20,207 $ 21,317 Falcon MSN 177 LLC Equity method 50% 1,830 1,600 $ 22,037 $ 22,917 The following table presents our proportionate share of equity in income (losses): Year Ended December 31, 2022 2021 2020 Advanced Engine Repair JV $ (1,110) $ (1,403) $ (1,932) Falcon MSN 177 LLC $ 741 — — Total $ (369) $ (1,403) $ (1,932)

INTANGIBLE ASSETS AND LIABILI_2

INTANGIBLE ASSETS AND LIABILITIES, NET (Tables)	12 Months Ended
	Dec. 31, 2022
Intangible Assets and Liabilities Disclosure [Abstract]
Schedule of Finite-Lived Intangible Assets and Liabilities	Our intangible assets and liabilities, net are summarized as follows: December 31, 2022 December 31, 2021 Intangible assets Acquired favorable lease intangibles $ 64,202 $ 67,013 Less: Accumulated amortization (22,247) (36,051) Acquired favorable lease intangibles, net $ 41,955 $ 30,962 Intangible liabilities Acquired unfavorable lease intangibles $ 13,152 $ 14,795 Less: Accumulated amortization (2,607) (6,068) Acquired unfavorable lease intangibles, net $ 10,545 $ 8,727
Schedule of Amortization of Intangibles	Amortization of intangible assets and liabilities is recorded as follows: Classification in Consolidated Statements of Operations Year Ended December 31, 2022 2021 2020 Lease intangibles Revenues $ 13,913 $ 4,993 $ 3,747
Schedule of Net Annual Amortization of Intangibles	As of December 31, 2022, estimated net annual amortization of intangibles is as follows: 2023 $ 12,229 2024 8,758 2025 5,853 2026 4,167 2027 908 Thereafter (505) Total $ 31,410

DEBT, NET (Tables)

DEBT, NET (Tables)	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	Our debt, net is summarized as follows: December 31, 2022 December 31, 2021 Outstanding Borrowings Stated Interest Rate Maturity Date Outstanding Borrowings Loans payable Revolving Credit Facility (1) 150,000 (i) Base Rate + 1.75%; or (ii) Adjusted Term SOFR Rate + 2.75% 9/20/25 189,473 2021 Bridge Loans — (i) Base Rate + 1.75%; or (ii) Adjusted Term SOFR Rate + 2.75% 12/15/22 100,527 Total loans payable 150,000 290,000 Bonds payable Senior Notes due 2025 (2) 653,036 6.50% 10/1/25 852,198 Senior Notes due 2027 400,000 9.75% 8/1/27 400,000 Senior Notes due 2028 (3) 1,002,091 5.50% 5/1/28 1,002,416 Total bonds payable 2,055,127 2,254,614 Debt 2,205,127 2,544,614 Less: Debt issuance costs (29,400) (43,027) Total debt, net $ 2,175,727 $ 2,501,587 Total debt due within one year $ — $ 100,527 ______________________________________________________________________________________ (1) 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. (2) Includes unamortized discount of $1,318 and $3,509 at December 31, 2022 and 2021, respectively, and an unamortized premium of $4,354 and $5,707 at December 31, 2022 and 2021, respectively. (3) Includes an unamortized premium of $2,091 and $2,416 at December 31, 2022 and 2021, respectively.
Schedule of Maturities of Long-term Debt	As of December 31, 2022, scheduled principal repayments under our debt agreements for the next five years and thereafter are summarized as follows: 2023 2024 2025 2026 2027 Thereafter Total Revolving Credit Facility — — 150,000 — — — 150,000 Senior Notes due 2025 — — 650,000 — — — 650,000 Senior Notes due 2027 — — — — 400,000 — 400,000 Senior Notes due 2028 — — — — — 1,000,000 1,000,000 Total principal payments on loans and bonds payable $ — $ — $ 800,000 $ — $ 400,000 $ 1,000,000 $ 2,200,000

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	12 Months Ended
	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value, Assets Measured on Recurring Basis	The fair values of our bonds payable reported as Debt, net in the Consolidated Balance Sheets are presented in the table below and classified as Level 2 within the fair value hierarchy: December 31, 2022 December 31, 2021 Senior Notes due 2025 613,152 881,408 Senior Notes due 2027 402,032 448,848 Senior Notes due 2028 853,490 1,019,470

REVENUES (Tables)

REVENUES (Tables)	12 Months Ended
	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	Year Ended December 31, 2022 Aviation Leasing Aerospace Products Corporate and Other Total Revenues Lease income $ 158,628 $ — $ 20,246 $ 178,874 Maintenance revenue 148,846 — — 148,846 Finance lease income 440 — — 440 Asset sales revenue 208,500 — — 208,500 Aerospace products revenue — 153,550 — 153,550 Other revenue 11,499 — 6,702 18,201 Total revenues $ 527,913 $ 153,550 $ 26,948 $ 708,411 Year Ended December 31, 2021 Aviation Leasing Aerospace Products Corporate and Other Total Revenues Lease income $ 161,986 $ — $ 10,131 $ 172,117 Maintenance revenue 128,819 — — 128,819 Finance lease income 1,747 — — 1,747 Asset sales revenue — — — — Aerospace products revenue — 23,301 — 23,301 Other revenue 5,569 — 4,030 9,599 Total revenues $ 298,121 $ 23,301 $ 14,161 $ 335,583 Year Ended December 31, 2020 Aviation Leasing Aerospace Products Corporate and Other Total Revenues Lease income $ 166,331 $ — $ 11,145 $ 177,476 Maintenance revenue 101,462 — — 101,462 Finance lease income 2,260 — — 2,260 Asset sales revenue — — — — Aerospace products revenue — — — — Other revenue 11,158 — 5,578 16,736 Total revenues $ 281,211 $ — $ 16,723 $ 297,934
Lessor, Operating Lease, Payments to be Received, Maturity	Presented below are the contracted minimum future annual revenues to be received under existing operating leases as of December 31, 2022: December 31, 2022 2023 $ 141,154 2024 86,337 2025 58,334 2026 39,465 2027 24,810 Thereafter 44,285 Total $ 394,385
Finance Lease, Liability, Fiscal Year Maturity	Presented below are the contracted minimum future annual revenues to be received under existing operating leases as of December 31, 2022: December 31, 2022 2023 $ 141,154 2024 86,337 2025 58,334 2026 39,465 2027 24,810 Thereafter 44,285 Total $ 394,385

EQUITY-BASED COMPENSATION (Tabl

EQUITY-BASED COMPENSATION (Tables)	12 Months Ended
	Dec. 31, 2022
Share-based Payment Arrangement [Abstract]
Schedule of Stock-based Compensation Arrangements	The following tables present information for our stock options: Stock Options Options Weighted Average Exercise Price Outstanding as of December 31, 2021 3,762,742 $ 21.02 Granted — — Less: exercised / vested 2,027,426 14.52 Less: forfeited and canceled — — Outstanding as of December 31, 2022 1,735,316 Stock Options As of December 31, 2022: Weighted average exercise / issuance price (per share) $ 22.67 Aggregate intrinsic value (in thousands) $ 128 Weighted average remaining contractual term (in years) 8.5
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions	The following table presents information related to the options related to our shares: Year Ended December 31, 2021 2020 Number of options 1,684,318 129,988 Fair value ($ millions) $13.8 $0.7 Ranges Expected volatility The expected share volatility is based on an assessment of the volatility of our publicly traded ordinary shares 44.78 % - 45.60 % 61.27 % - 62.12 % Risk free interest rate The risk-free rate is determined using the implied yield currently available on U.S. government bonds with a term consistent with the expected term on the date of grant. 1.34 % - 1.70 % 0.51 % - 0.76 % Expected dividend yield The expected dividend yield is based on management’s current expected dividend rate. 3.16 % - 3.64 % 6.23 % - 11.79 % Expected term Expected term used represents the period of time the options granted are expected to be outstanding. 10 years 10 years

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense	The current and deferred components of the income tax (benefit) provision included in the Consolidated Statements of Operations are as follows: Year Ended December 31, 2022 2021 2020 Current: Cayman Islands $ — $ — $ — United States: Federal 522 $ 1,850 $ (114) State and local 1,687 $ 760 $ — Non-U.S. 443 $ (11) $ 537 Total current provision 2,652 $ 2,599 $ 423 Deferred: Cayman Islands — $ — $ — United States: Federal 1,305 $ 126 $ (474) State and local 242 $ 122 $ (142) Non-U.S. 1,101 $ 279 $ (4,150) Total deferred (benefit) provision 2,648 $ 527 $ (4,766) Provision for (benefit from) income taxes: Continuing operations 5,300 $ 3,126 $ (4,343) Discontinued operations 8,227 $ (4,183) $ (1,562) Total 13,527 $ (1,057) $ (5,905)
Schedule of Effective Income Tax Rate Reconciliation	Year Ended December 31, 2022 2021 2020 Income subject to tax in the United States (6.9) % (7.2) % 0.3 % Foreign taxes 13.5 % (8.7) % 3.2 % Change in valuation allowance (11.6) % 8.0 % 6.5 % Provision for income taxes (5.0) % (7.9) % 10.0 %
Schedule of Deferred Tax Assets and Liabilities	Significant components of our deferred tax assets and liabilities are as follows: December 31, 2022 2021 Deferred tax assets: Net operating loss carryforwards $ 43,116 $ 27,154 Interest expense 2,754 1,530 Investment in Partnerships 963 1,519 Other 272 320 Total deferred tax assets 47,105 30,523 Less valuation allowance (27,565) (9,142) Net deferred tax assets 19,540 21,381 Deferred tax liabilities: Fixed assets (22,794) (20,072) Net deferred tax liabilities $ (3,254) $ 1,309
Summary of Valuation Allowance	A summary of the changes in the valuation allowance is as follows: December 31, 2022 2021 2020 Valuation allowance at beginning of period $ 9,142 $ 6,794 $ 2,603 Change due to current year losses 22,094 2,356 4,191 Change due to current year releases (3,671) (8) — Valuation allowance at end of period $ 27,565 $ 9,142 $ 6,794

MANAGEMENT AGREEMENT AND AFFI_2

MANAGEMENT AGREEMENT AND AFFILIATE TRANSACTIONS (Tables)	12 Months Ended
	Dec. 31, 2022
Related Party Transactions [Abstract]
Management fees, income incentive allocation and capital gains incentive allocation	The following table summarizes the management fees, income incentive allocation and capital gains incentive allocation from continuing operations: Year Ended December 31, 2022 2021 2020 Management fees $ 73 $ 684 $ 5,446 Income incentive allocation 3,489 — — Capital gains incentive allocation — — — Total $ 3,562 $ 684 $ 5,446
Reimbursement to Manager	The following table summarizes our reimbursements to the Manager from continuing operations: Year Ended December 31, 2022 2021 2020 Classification in the Consolidated Statements of Operations: General and administrative expenses $ 6,891 $ 4,915 $ 5,499 Acquisition and transaction expenses 1,144 2,153 2,081 Total $ 8,035 $ 7,068 $ 7,580
Amounts due to the Manager, which are included within accounts payable and accrued liabilities in the Consolidated Balance Sheets	The following table summarizes amounts due to the Manager, which are included within accounts payable and accrued liabilities in the Consolidated Balance Sheets: December 31, 2022 2021 Accrued management fees $ 53 $ 1,495 Other payables 4,688 2,283

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2022
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The following tables set forth certain information for each reportable segment: I. For the Year Ended December 31, 2022 Year Ended December 31, 2022 Aviation Leasing Aerospace Products Corporate and Other Total Revenues $ 527,913 $ 153,550 $ 26,948 $ 708,411 Expenses Cost of sales 159,490 88,895 — 248,385 Operating expenses 81,232 11,967 39,065 132,264 General and administrative — — 14,164 14,164 Acquisition and transaction expenses 1,923 243 11,041 13,207 Management fees and incentive allocation to affiliate — — 3,562 3,562 Depreciation and amortization 144,258 258 8,401 152,917 Asset impairment 137,219 — — 137,219 Interest expense — — 169,194 169,194 Total expenses 524,122 101,363 245,427 870,912 Other income (expense) Equity in earnings (losses) of unconsolidated entities 740 (1,109) — (369) Gain on sale of assets, net 58,649 18,562 — 77,211 Loss on extinguishment of debt — — (19,859) (19,859) Other income (expense) 246 — (39) 207 Total other income (expense) 59,635 17,453 (19,898) 57,190 Income (loss) from continuing operations before income taxes 63,426 69,640 (238,377) (105,311) Provision for (benefit from) income taxes 2,502 2,961 (163) 5,300 Net income (loss) from continuing operations 60,924 66,679 (238,214) (110,611) Less: Net loss from continuing operations attributable to non-controlling interests in consolidated subsidiaries — — — — Less: Dividends on preferred shares — — 27,164 27,164 Net income (loss) attributable to shareholders from continuing operations $ 60,924 $ 66,679 $ (265,378) $ (137,775) Year Ended December 31, 2021 Aviation Leasing Aerospace Products Corporate and Other Total Revenues $ 298,121 $ 23,301 $ 14,161 $ 335,583 Expenses Cost of sales — 14,308 — 14,308 Operating expenses 32,757 5,429 21,429 59,615 General and administrative — — 13,448 13,448 Acquisition and transaction expenses 982 — 16,929 17,911 Management fees and incentive allocation to affiliate — — 684 684 Depreciation and amortization 139,678 66 7,996 147,740 Asset impairment 10,463 — — 10,463 Interest expense — — 155,017 155,017 Total expenses 183,880 19,803 215,503 419,186 Other (expense) income Equity in losses of unconsolidated entities — (1,403) — (1,403) Gain on sale of assets, net 29,098 19,917 — 49,015 Loss on extinguishment of debt — — (3,254) (3,254) Other (expense) income (527) — 37 (490) Total other income (expense) 28,571 18,514 (3,217) 43,868 Income (loss) from continuing operations before income taxes 142,812 22,012 (204,559) (39,735) Provision for (benefit from) income taxes 2,073 1,135 (82) 3,126 Net income (loss) from continuing operations 140,739 20,877 (204,477) (42,861) Less: Net loss from continuing operations attributable to non-controlling interests in consolidated subsidiaries — — — — Less: Dividends on preferred shares — — 24,758 24,758 Net income (loss) attributable to shareholders from continuing operations $ 140,739 $ 20,877 $ (229,235) $ (67,619) Year Ended December 31, 2020 Aviation Leasing Aerospace Products Corporate and Other Total Revenues $ 281,211 $ — $ 16,723 $ 297,934 Expenses Operating expenses 20,667 — 19,454 40,121 General and administrative — — 14,106 14,106 Acquisition and transaction expenses 6,687 — 3,181 9,868 Management fees and incentive allocation to affiliate — — 5,446 5,446 Depreciation and amortization 133,904 — 7,382 141,286 Asset impairment 33,978 — — 33,978 Interest expense — — 87,442 87,442 Total expenses 195,236 — 137,011 332,247 Other income (expense) Equity in losses of unconsolidated entities (1,932) — — (1,932) Loss on sale of assets, net (300) — — (300) Loss on extinguishment of debt — — (6,943) (6,943) Other income 94 — — 94 Total other expense (2,138) — (6,943) (9,081) Income (loss) from continuing operations before income taxes 83,837 — (127,231) (43,394) (Benefit from) provision for income taxes (4,812) — 469 (4,343) Net income (loss) from continuing operations 88,649 — (127,700) (39,051) Less: Net loss from continuing operations attributable to non-controlling interests in consolidated subsidiaries — — — — Less: Dividends on preferred shares — — 17,869 17,869 Net income (loss) attributable to shareholders from continuing operations $ 88,649 $ — $ (145,569) $ (56,920)
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 from continuing operations: Year Ended December 31, 2022 Aviation Leasing Aerospace Products Corporate and Other Total Adjusted EBITDA $ 384,125 $ 70,365 $ (26,393) $ 428,097 Add: Non-controlling share of Adjusted EBITDA — Add: Equity in losses of unconsolidated entities (369) Less: Pro-rata share of Adjusted EBITDA from unconsolidated entities (40) Less: Interest expense and dividends on preferred shares (196,358) Less: Depreciation and amortization expense (190,031) Less: Incentive allocations (3,489) Less: Asset impairment charges (137,219) Less: Changes in fair value of non-hedge derivative instruments — Less: Losses on the modification or extinguishment of debt and capital lease obligations (19,859) Less: Acquisition and transaction expenses (13,207) Less: Equity-based compensation expense — Less: Provision for income taxes (5,300) Net loss attributable to shareholders from continuing operations $ (137,775) The following table sets forth a reconciliation of Adjusted EBITDA to net loss attributable to shareholders from continuing operations: Year Ended December 31, 2021 Aviation Leasing Aerospace Products Corporate and Other Total Adjusted EBITDA $ 321,913 $ 22,278 $ (21,363) $ 322,828 Add: Non-controlling share of Adjusted EBITDA — Add: Equity in losses of unconsolidated entities (1,403) Less: Pro-rata share of Adjusted EBITDA from unconsolidated entities 1,203 Less: Interest expense and dividends on preferred shares (179,775) Less: Depreciation and amortization expense (175,718) Less: Incentive allocations — Less: Asset impairment charges (10,463) Less: Changes in fair value of non-hedge derivative instruments — Less: Losses on the modification or extinguishment of debt and capital lease obligations (3,254) Less: Acquisition and transaction expenses (17,911) Less: Equity-based compensation expense — Less: Provision for income taxes (3,126) Net loss attributable to shareholders from continuing operations $ (67,619) The following table sets forth a reconciliation of Adjusted EBITDA to net loss attributable to shareholders from continuing operations: Year Ended December 31, 2020 Aviation Leasing Aerospace Products Corporate and Other Total Adjusted EBITDA $ 288,752 $ — $ (22,283) $ 266,469 Add: Non-controlling share of Adjusted EBITDA — Add: Equity in losses of unconsolidated entities (1,932) Less: Pro-rata share of Adjusted EBITDA from unconsolidated entities 1,932 Less: Interest expense and dividends on preferred shares (105,311) Less: Depreciation and amortization expense (171,632) Less: Incentive allocations — Less: Asset impairment charges (33,978) Less: Changes in fair value of non-hedge derivative instruments — Less: Losses on the modification or extinguishment of debt and capital lease obligations (6,943) Less: Acquisition and transaction expenses (9,868) Less: Equity-based compensation expense — Less: Benefit from income taxes 4,343 Net loss attributable to shareholders from continuing operations $ (56,920)
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: Year Ended December 31, 2022 Aviation Leasing Aerospace Products Corporate and Other Total Revenues Africa $ 250 $ 1,615 $ — $ 1,865 Asia 84,953 12,731 26,948 124,632 Europe 130,128 37,495 — 167,623 North America 270,514 101,632 — 372,146 South America 42,068 77 — 42,145 Total revenues $ 527,913 $ 153,550 $ 26,948 $ 708,411 Summary information with respect to our geographic sources of revenue, based on location of customer, is as follows: Year Ended December 31, 2021 Aviation Leasing Aerospace Products Corporate and Other Total Revenues Africa $ 235 $ — $ — $ 235 Asia 114,313 — 14,161 128,474 Europe 131,205 2,333 — 133,538 North America 41,228 20,968 — 62,196 South America 11,140 — — 11,140 Total revenues $ 298,121 $ 23,301 $ 14,161 $ 335,583 Summary information with respect to our geographic sources of revenue, based on location of customer, is as follows: Year Ended December 31, 2020 Aviation Leasing Aerospace Products Corporate and Other Total Revenues Africa $ 10,259 $ — $ — $ 10,259 Asia 110,057 — 16,637 126,694 Europe 124,670 — — 124,670 North America 32,961 — 86 33,047 South America 3,264 — — 3,264 Total revenues $ 281,211 $ — $ 16,723 $ 297,934
Long-lived Assets by Geographic Areas	The following tables sets forth summarized geographic location of property, plant and equipment and leasing equipment, net: December 31, 2022 December 31, 2021 Total Property, plant and equipment and leasing equipment, net Africa $ 7,952 $ — Asia 383,378 543,609 Europe 821,840 839,555 North America 424,617 265,203 South America 285,780 245,533 Total property, plant and equipment and leasing equipment, net $ 1,923,567 $ 1,893,900

EARNINGS PER SHARE AND EQUITY (

EARNINGS PER SHARE AND EQUITY (Tables)	12 Months Ended
	Dec. 31, 2022
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The calculation of basic and diluted EPS is presented below. Year Ended December 31, (in thousands, except share and per share data) 2022 2021 2020 Net loss from continuing operations $ (110,611) $ (42,861) $ (39,051) Net loss from discontinued operations, net of income taxes (101,416) (87,845) (64,641) Net loss (212,027) (130,706) (103,692) Less: Net loss attributable to non-controlling interests in consolidated subsidiaries: Continuing operations — — — Discontinued operations (18,817) (26,472) (16,522) Less: Dividends on preferred shares 27,164 24,758 17,869 Net loss attributable to shareholders $ (220,374) $ (128,992) $ (105,039) Weighted Average Ordinary Shares Outstanding - Basic (1) 99,421,008 89,922,088 86,015,702 Weighted Average Ordinary Shares Outstanding - Diluted (1) 99,421,008 89,922,088 86,015,702 Loss per share: Basic Continuing operations $ (1.39) $ (0.75) $ (0.66) Discontinued operations $ (0.83) $ (0.68) $ (0.56) Diluted Continuing operations $ (1.39) $ (0.75) $ (0.66) Discontinued operations $ (0.83) $ (0.68) $ (0.56) ________________________________________________________ (1) Years ended December 31, 2022, 2021 and 2020 include participating securities which can be converted into a fixed amount of our shares.

ORGANIZATION (Details)

ORGANIZATION (Details) - 12 months ended Dec. 31, 2022	number_of_segment	Segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments	2	2

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Accounting Policies [Line Items]
Interest paid, capitalized	$ 2,700	$ 2,400	$ 1,000
Cost of property repairs and maintenance	7,200	3,200	1,300
Unamortized deferred financing costs	(29,400)	(43,027)
Amortization	17,000	19,100	5,800
Provision for doubtful accounts	65,580	17,703	$ 4,823	$ 1,227
Provision for credit losses	47,100
ROU asset	3,000	3,800
Maintenance right assets	6,800	$ 5,100
Amortization of lease incentives	$ 7,500
Common stock dividends declared (in dollars per share)	$ 1.26	$ 1.32	$ 1.32
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other assets	Other assets
Maximum | Drydockings
Accounting Policies [Line Items]
Useful life	60 months
Series A Preferred Stock
Accounting Policies [Line Items]
Preferred stock dividends declared (in dollars per share)	$ 2.06	$ 2.06	2.06
Series B Preferred Stock
Accounting Policies [Line Items]
Preferred stock dividends declared (in dollars per share)	2	2	$ 2.10
Series C Preferred Stock
Accounting Policies [Line Items]
Preferred stock dividends declared (in dollars per share)	$ 2.06	$ 1.49
Other Assets
Accounting Policies [Line Items]
Lease incentive receivable	$ 37,900	$ 46,900
Leasing equipment, purchase deposits	6,700	13,700
Notes receivable	49,200	22,400
Finance leases, net	6,400	7,600
Prepaid expense	$ 1,900	$ 4,000
Aviation Leasing | Sales Revenue, Segment | Customer Concentration Risk
Accounting Policies [Line Items]
Concentration risk percentage		11%
Aerospace Products | Sales Revenue, Segment | Customer Concentration Risk
Accounting Policies [Line Items]
Concentration risk percentage			11%
Major Accounts Receivable Customer, Customer One | Accounts Receivable | Customer Concentration Risk
Accounting Policies [Line Items]
Concentration risk percentage	20%	51%
Major Accounts Receivable Customer, Customer Two | Accounts Receivable | Customer Concentration Risk
Accounting Policies [Line Items]
Concentration risk percentage	12%	18%
Revolving Credit Facility
Accounting Policies [Line Items]
Unamortized deferred financing costs	$ (5,500)	$ (2,400)
Acquired Leases
Accounting Policies [Line Items]
Useful life, intangibles	59 months

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Useful Lives (Details)	12 Months Ended
	Dec. 31, 2022
Aircraft
Property, Plant and Equipment [Line Items]
Useful life, property plant and equipment	25 years
Aircraft engines | Minimum
Property, Plant and Equipment [Line Items]
Useful life, property plant and equipment	2 years
Aircraft engines | Maximum
Property, Plant and Equipment [Line Items]
Useful life, property plant and equipment	6 years
Aviation tooling and equipment | Minimum
Property, Plant and Equipment [Line Items]
Useful life, property plant and equipment	3 years
Aviation tooling and equipment | Maximum
Property, Plant and Equipment [Line Items]
Useful life, property plant and equipment	6 years
Offshore energy vessels
Property, Plant and Equipment [Line Items]
Useful life, property plant and equipment	25 years
Furniture and fixtures | Minimum
Property, Plant and Equipment [Line Items]
Useful life, property plant and equipment	3 years
Furniture and fixtures | Maximum
Property, Plant and Equipment [Line Items]
Useful life, property plant and equipment	6 years
Computer hardware and software | Minimum
Property, Plant and Equipment [Line Items]
Useful life, property plant and equipment	2 years
Computer hardware and software | Maximum
Property, Plant and Equipment [Line Items]
Useful life, property plant and equipment	5 years

SUMMARY OF SIGNIFICANT ACCOUN_6

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Summary of Allowance for Credit Loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Allowance at beginning of period	$ 17,703	$ 4,823	$ 1,227
Provision for credit losses	47,100
Allowance at end of period	65,580	17,703	4,823
Continuing Operations
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Provision for credit losses	$ 47,877	$ 12,880	$ 3,596

DISCONTINUED OPERATIONS - Narra

DISCONTINUED OPERATIONS - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Aug. 01, 2022	Jul. 01, 2016
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total assets	$ 2,429,577,000	$ 4,863,854,000
Total liabilities	2,410,175,000	3,739,754,000
Goodwill, impairment loss	$ 0	$ 0	$ 0
Minimum | Customer relationships
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Useful life, intangibles	5 years
Maximum | Customer relationships
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Useful life, intangibles	15 years
Weighted average amortization period		154 months
Variable Interest Entity, Primary Beneficiary | Delaware River Partners LLC
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Interest held in VIE	100%
Total assets		$ 316,500,000
Total liabilities		$ 32,600,000
Variable Interest Entity, Primary Beneficiary | Delaware River Partners LLC
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Ownership Percentage					98%
Loans payable | Revolving Credit Facility
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Repayments of debt	$ 175,000,000
Senior Notes due 2025 | Bonds payable
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Repayments of debt	$ 200,000,000
Stated rate	6.50%
Discontinued Operations, Disposed of by Means Other than Sale, Spinoff
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration received for CMQR				$ 730,300,000

DISCONTINUED OPERATIONS - Compo

DISCONTINUED OPERATIONS - Components of Net Income (Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Expenses
Discontinued operations	$ 8,227	$ (4,183)	$ (1,562)
Net loss from discontinued operations, net of income taxes	(101,416)	(87,845)	(64,641)
Less: Net loss attributable to non-controlling interests in consolidated subsidiaries	(18,817)	(26,472)	(16,522)
Discontinued Operations, Disposed of by Sale
Revenues
Total revenues	140,009	120,219	68,562
Expenses
Cost of sales	12,732	0	10,864
Operating expense	92,478	98,541	58,527
General and administrative expenses	2,694	3,961	4,053
Acquisition and transaction expenses	13,971	4,030	0
Management fees and incentive allocation to affiliate	8,134	15,638	13,073
Depreciation and amortization	40,319	54,016	31,114
Interest expense	15,105	16,019	10,764
Total expenses	185,433	192,205	128,395
Equity in losses of unconsolidated entities	(46,602)	(11,331)	(3,107)
Gain on sale of assets, net	258	16	1,323
Loss on extinguishment of debt	0	0	(4,724)
Other (expense) income	(1,421)	(8,727)	138
Total other expense	(47,765)	(20,042)	(6,370)
Loss before income taxes	(93,189)	(92,028)	(66,203)
Discontinued operations	8,227	(4,183)	(1,562)
Net loss from discontinued operations, net of income taxes	(101,416)	(87,845)	(64,641)
Less: Net loss attributable to non-controlling interests in consolidated subsidiaries	(18,817)	(26,472)	(16,522)
Net loss attributable to shareholders	$ (82,599)	$ (61,373)	$ (48,119)

DISCONTINUED OPERATIONS - Asset

DISCONTINUED OPERATIONS - Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Assets
Total assets of discontinued operations	$ 0	$ 2,442,301
Liabilities
Total liabilities of discontinued operations	$ 0	980,255
Discontinued Operations, Disposed of by Means Other than Sale, Spinoff
Assets
Cash and cash equivalents		49,872
Restricted cash		251,983
Accounts receivable, net		50,301
Leasing equipment, net		36,012
Operating lease right-of-use assets, net		71,547
Property, plant and equipment, net		1,517,594
Investments		54,408
Intangible assets, net		67,737
Goodwill		257,137
Other assets		85,710
Total assets of discontinued operations		2,442,301
Liabilities
Accounts payable and accrued liabilities		115,634
Debt, net		718,624
Operating lease liabilities		70,404
Other liabilities		75,593
Total liabilities of discontinued operations		$ 980,255

DISCONTINUED OPERATIONS - Signi

DISCONTINUED OPERATIONS - Significant Cash Flow Items (Details) - Discontinued Operations, Disposed of by Sale - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Operating activities:
Equity in losses of unconsolidated entities	$ 46,601	$ 11,331	$ 3,107
Depreciation and amortization	40,319	54,016	31,114
Equity-based compensation	2,623	4,038	2,325
Investing activities:
Acquisition of property, plant and equipment	(129,920)	(140,896)	(247,961)
Acquisition of business, net of cash acquired	(3,819)	(627,090)	0
Investment in unconsolidated entities	7,954	53,055	(4,690)
Proceeds from sale of property, plant and equipment	5,289	4,494	0
Non-cash change in equity method investment	(182,963)	(129,907)	(26,609)
Conversion of interests in unconsolidated entities	$ (21,302)	$ 0	$ 0

DISCONTINUED OPERATIONS - Balan

DISCONTINUED OPERATIONS - Balance Sheet - Long Ridge Terminal LLC (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Assets
Cash and cash equivalents	$ 33,565	$ 138,206
Intangible assets, net	41,955	30,962
Inventory, net	163,676	100,307
Other assets	125,834	110,337
Total assets	2,429,577	4,863,854
Liabilities
Accounts payable and accrued liabilities	86,452	87,035
Other liabilities	36,468	23,892
Total liabilities	2,410,175	3,739,754
Equity
Shareholders’ equity	18,878	1,124,292
Accumulated deficit	(325,602)	(132,392)
Total equity	19,402	1,124,100
Total liabilities and equity	$ 2,429,577	4,863,854
Long Ridge Terminal LLC
Assets
Cash and cash equivalents		2,932
Restricted cash		32,469
Accounts receivable, net		17,896
Property, plant, and equipment, net		764,607
Intangible assets, net		4,940
Goodwill		89,390
Inventory, net		1,691
Other assets		12,750
Total assets		926,675
Liabilities
Accounts payable and accrued liabilities		16,121
Debt, net		604,261
Derivative liabilities		339,033
Other liabilities		2,246
Total liabilities		961,661
Equity
Shareholders’ equity		(1,035)
Accumulated deficit		(33,951)
Total equity		(34,986)
Total liabilities and equity		$ 926,675

DISCONTINUED OPERATIONS - Incom

DISCONTINUED OPERATIONS - Income Statement - Long Ridge Terminal LLC (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Schedule of Equity Method Investments [Line Items]
Revenues	$ 708,411	$ 335,583	$ 297,934
Expenses
Depreciation and amortization	152,917	147,740	141,286
Total expenses	870,912	419,186	332,247
Total other income (expense)	57,190	43,868	(9,081)
Long Ridge Terminal LLC
Schedule of Equity Method Investments [Line Items]
Revenues	15,199	85,638	24,917
Expenses
Other Cost and Expense, Operating	36,693	28,310	16,339
Depreciation and amortization	29,381	24,836	11,004
Interest income	30,622	11,005	2,037
Total expenses	96,696	64,151	29,380
Total other income (expense)	(234)	(44,302)	(1,967)
Net loss	$ (81,731)	$ (22,815)	$ (6,430)

LEASING EQUIPMENT, NET - Schedu

LEASING EQUIPMENT, NET - Schedule of Lessor, Operating Leases (Details) - Leasing Equipment - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Lessor, Lease, Description [Line Items]
Leasing equipment	$ 2,413,230	$ 2,312,040
Less: Accumulated depreciation	(499,677)	(456,403)
Property, plant and equipment, net	$ 1,913,553	$ 1,855,637

LEASING EQUIPMENT, NET - Additi

LEASING EQUIPMENT, NET - Additional Details (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($) airCraft engine
Property, Plant, and Equipment, Lessor Asset under Operating Lease [Line Items]
Impairment charges | $	$ 120
UKRAINE
Property, Plant, and Equipment, Lessor Asset under Operating Lease [Line Items]
Number of aircrafts | airCraft	4
Number of engines | engine	1
RUSSIA
Property, Plant, and Equipment, Lessor Asset under Operating Lease [Line Items]
Number of aircrafts | airCraft	8
Number of engines | engine	17
Aviation Leasing
Property, Plant, and Equipment, Lessor Asset under Operating Lease [Line Items]
Impairment charges | $	$ 17.2

LEASING EQUIPMENT, NET - Lessor

LEASING EQUIPMENT, NET - Lessor, Acquisition and Disposition of Leasing Equipment (Details)	12 Months Ended
	Dec. 31, 2022 aircraft commercial_jet_engine	Dec. 31, 2021 aircraft commercial_jet_engines	Dec. 31, 2020 aircraft commercial_jet_engines
Dispositions:
Aircraft	8	4	0
Engines	71	56	25
Acquisitions:
Aircraft	39	52	20
Engines	64	60	37

LEASING EQUIPMENT, NET - Operat

LEASING EQUIPMENT, NET - Operating Lease, Lease Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Leasing equipment, net
Property, Plant, and Equipment, Lessor Asset under Operating Lease [Line Items]
Depreciation	$ 152,378	$ 147,444	$ 141,161

PROPERTY, PLANT AND EQUIPMENT_3

PROPERTY, PLANT AND EQUIPMENT, NET (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Property, Plant, and Equipment, Excluding Leasing Arrangements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 10,974	$ 38,684
Less: Accumulated depreciation	(960)	(421)
Property, plant and equipment, net	10,014	38,263
Construction in progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	7,864	36,777
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	1,449	1,374
Other
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 1,661	$ 533

PROPERTY, PLANT AND EQUIPMENT_4

PROPERTY, PLANT AND EQUIPMENT, NET - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Wells and Related Equipment and Facilities
Property, Plant and Equipment [Line Items]
Transfer out of property, plant, and equipment	$ 42.1
Property, Plant, and Equipment, Excluding Leasing Arrangements
Property, Plant and Equipment [Line Items]
Property, plant and equipment acquired	$ 14.4	$ 14.5

PROPERTY, PLANT AND EQUIPMENT_5

PROPERTY, PLANT AND EQUIPMENT, NET - Depreciation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Property, Plant, and Equipment, Excluding Leasing Arrangements
Property, Plant and Equipment [Line Items]
Depreciation	$ 539	$ 295	$ 126

INVESTMENTS (Ownership Carrying

INVESTMENTS (Ownership Carrying Values) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Nov. 30, 2021	Aug. 31, 2019	Dec. 31, 2016
Schedule of Equity Method Investments [Line Items]
Carrying value of investment	$ 22,037	$ 22,917
Advanced Engine Repair JV
Schedule of Equity Method Investments [Line Items]
Ownership Percentage	25%			25%	25%
Carrying value of investment	$ 20,207	21,317			$ 15,000
Falcon MSN 177 LLC
Schedule of Equity Method Investments [Line Items]
Ownership Percentage	50%		50%
Carrying value of investment	$ 1,830	$ 1,600	$ 1,600

INVESTMENTS - Earnings or Losse

INVESTMENTS - Earnings or Losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Schedule of Equity Method Investments [Line Items]
Income (loss) from equity method investments	$ (369)	$ (1,403)	$ (1,932)
Advanced Engine Repair JV
Schedule of Equity Method Investments [Line Items]
Income (loss) from equity method investments	(1,110)	(1,403)	(1,932)
Falcon MSN 177 LLC
Schedule of Equity Method Investments [Line Items]
Income (loss) from equity method investments	$ 741	$ 0	$ 0

INVESTMENTS - Narrative (Detail

INVESTMENTS - Narrative (Details) - USD ($) $ in Thousands	1 Months Ended
	Aug. 31, 2019	Dec. 31, 2022	Dec. 31, 2021	Nov. 30, 2021	Dec. 31, 2016
Schedule of Equity Method Investments [Line Items]
Investments		$ 22,037	$ 22,917
Advanced Engine Repair JV
Schedule of Equity Method Investments [Line Items]
Investments		$ 20,207	21,317		$ 15,000
Ownership Percentage	25%	25%			25%
Equity method investment contribution amount	$ 13,500
Falcon MSN 177 LLC
Schedule of Equity Method Investments [Line Items]
Investments		$ 1,830	$ 1,600	$ 1,600
Ownership Percentage		50%		50%

INTANGIBLE ASSETS AND LIABILI_3

INTANGIBLE ASSETS AND LIABILITIES, NET - Summarized Intangible Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Intangible assets
Acquired favorable lease intangibles	$ 64,202	$ 67,013
Less: Accumulated amortization	(22,247)	(36,051)
Acquired favorable lease intangibles, net	41,955	30,962
Intangible liabilities
Acquired unfavorable lease intangibles	13,152	14,795
Less: Accumulated amortization	(2,607)	(6,068)
Acquired unfavorable lease intangibles, net	$ 10,545	$ 8,727

INTANGIBLE ASSETS AND LIABILI_4

INTANGIBLE ASSETS AND LIABILITIES, NET - Intangible Liabilities Amortization (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenues | Lease intangibles
Finite-Lived Intangible Assets [Line Items]
Revenues	$ 13,913	$ 4,993	$ 3,747

INTANGIBLE ASSETS AND LIABILI_5

INTANGIBLE ASSETS AND LIABILITIES, NET - Schedule of Future Amortization Expense (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2023	$ 12,229
2024	8,758
2025	5,853
2026	4,167
2027	908
Thereafter	(505)
Total	$ 31,410

DEBT, NET - Narrative (Details)

DEBT, NET - Narrative (Details) - USD ($)		12 Months Ended
	Nov. 22, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Sep. 20, 2022
Debt Instrument [Line Items]
Repayments of debt		$ 1,144,529,000	$ 1,553,231,000	$ 852,197,000
Loss on extinguishment of debt		19,859,000	$ 3,254,000	$ 6,943,000
Bonds payable | Senior Notes due 2025
Debt Instrument [Line Items]
Repayments of debt		$ 200,000,000
Stated rate		6.50%
Repayments of debt		$ 200,000,000
Revolving Credit Facility | Loans payable
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 300,000,000				$ 225,000,000
Additional revolving commitments	75,000,000
Repayments of line of credit		175,000,000
Repayments of debt		$ 175,000,000
Letter of Credit | Loans payable
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 25,000,000				$ 25,000,000

DEBT, NET - Schedule of Debt (D

DEBT, NET - Schedule of Debt (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Total	$ 2,205,127	$ 2,544,614
Less: Debt issuance costs	(29,400)	(43,027)
Total debt, net	2,175,727	2,501,587
Total debt due within one year	0	100,527
Senior Notes due 2025
Debt Instrument [Line Items]
Total	650,000
Senior Notes due 2027
Debt Instrument [Line Items]
Total	400,000
Senior Notes due 2028
Debt Instrument [Line Items]
Total	1,000,000
Loans payable
Debt Instrument [Line Items]
Total debt, net	150,000	290,000
Bonds payable
Debt Instrument [Line Items]
Total debt, net	2,055,127	2,254,614
Bonds payable | Senior Notes due 2025
Debt Instrument [Line Items]
Total debt, net	$ 653,036	852,198
Stated rate	6.50%
Unamortized premium	$ 4,354	5,707
Unamortized discount	1,318	3,509
Bonds payable | Senior Notes due 2027
Debt Instrument [Line Items]
Total debt, net	$ 400,000	400,000
Stated rate	9.75%
Bonds payable | Senior Notes due 2028
Debt Instrument [Line Items]
Total debt, net	$ 1,002,091	1,002,416
Stated rate	5.50%
Unamortized premium	$ 2,091	2,416
Revolving Credit Facility
Debt Instrument [Line Items]
Less: Debt issuance costs	(5,500)	(2,400)
Revolving Credit Facility | Loans payable
Debt Instrument [Line Items]
Total debt, net	$ 150,000	189,473
Commitment fee rate	0.50%
2021 Bridge Loans | Loans payable
Debt Instrument [Line Items]
Total debt, net	$ 0	$ 100,527
Base Rate | Loans payable | 2021 Bridge Loans
Debt Instrument [Line Items]
Stated rate	1.75%
Adjusted Term SOFR Rate | Loans payable | 2021 Bridge Loans
Debt Instrument [Line Items]
Stated rate	2.75%

DEBT, NET - Debt Maturities (De

DEBT, NET - Debt Maturities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Total	$ 2,205,127	$ 2,544,614
Revolving Credit Facility
Debt Instrument [Line Items]
2023	0
2024	0
2025	150,000
2026	0
2027	0
Thereafter	0
Total	150,000
Senior Notes due 2025
Debt Instrument [Line Items]
2023	0
2024	0
2025	650,000
2026	0
2027	0
Thereafter	0
Total	650,000
Senior Notes due 2027
Debt Instrument [Line Items]
2023	0
2024	0
2025	0
2026	0
2027	400,000
Thereafter	0
Total	400,000
Senior Notes due 2028
Debt Instrument [Line Items]
2023	0
2024	0
2025	0
2026	0
2027	0
Thereafter	1,000,000
Total	1,000,000
Total principal payments on loans and bonds payable
Debt Instrument [Line Items]
2023	0
2024	0
2025	800,000
2026	0
2027	400,000
Thereafter	1,000,000
Total	$ 2,200,000

FAIR VALUE MEASUREMENTS - Compo

FAIR VALUE MEASUREMENTS - Components of Fair Value, Assets Measured on Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Senior Notes due 2025
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of debt payable	$ 613,152	$ 881,408
Senior Notes due 2027
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of debt payable	402,032	448,848
Senior Notes due 2028
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of debt payable	$ 853,490	$ 1,019,470

REVENUES - Components of Revenu

REVENUES - Components of Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disaggregation of Revenue [Line Items]
Revenues	$ 708,411	$ 335,583	$ 297,934
Lease income
Disaggregation of Revenue [Line Items]
Revenues	178,874	172,117	177,476
Maintenance revenue
Disaggregation of Revenue [Line Items]
Revenues	148,846	128,819	101,462
Finance lease income
Disaggregation of Revenue [Line Items]
Revenues	440	1,747	2,260
Asset sales revenue
Disaggregation of Revenue [Line Items]
Revenues	208,500	0	0
Aerospace products revenue
Disaggregation of Revenue [Line Items]
Revenues	153,550	23,301	0
Other revenue
Disaggregation of Revenue [Line Items]
Revenues	18,201	9,599	16,736
Aviation Leasing
Disaggregation of Revenue [Line Items]
Revenues	527,913	298,121	281,211
Aviation Leasing | Lease income
Disaggregation of Revenue [Line Items]
Revenues	158,628	161,986	166,331
Aviation Leasing | Maintenance revenue
Disaggregation of Revenue [Line Items]
Revenues	148,846	128,819	101,462
Aviation Leasing | Finance lease income
Disaggregation of Revenue [Line Items]
Revenues	440	1,747	2,260
Aviation Leasing | Asset sales revenue
Disaggregation of Revenue [Line Items]
Revenues	208,500	0	0
Aviation Leasing | Aerospace products revenue
Disaggregation of Revenue [Line Items]
Revenues	0	0	0
Aviation Leasing | Other revenue
Disaggregation of Revenue [Line Items]
Revenues	11,499	5,569	11,158
Aerospace Products
Disaggregation of Revenue [Line Items]
Revenues	153,550	23,301	0
Aerospace Products | Lease income
Disaggregation of Revenue [Line Items]
Revenues	0	0	0
Aerospace Products | Maintenance revenue
Disaggregation of Revenue [Line Items]
Revenues	0	0	0
Aerospace Products | Finance lease income
Disaggregation of Revenue [Line Items]
Revenues	0	0	0
Aerospace Products | Asset sales revenue
Disaggregation of Revenue [Line Items]
Revenues	0	0	0
Aerospace Products | Aerospace products revenue
Disaggregation of Revenue [Line Items]
Revenues	153,550	23,301	0
Aerospace Products | Other revenue
Disaggregation of Revenue [Line Items]
Revenues	0	0	0
Corporate and Other
Disaggregation of Revenue [Line Items]
Revenues	26,948	14,161	16,723
Corporate and Other | Lease income
Disaggregation of Revenue [Line Items]
Revenues	20,246	10,131	11,145
Corporate and Other | Maintenance revenue
Disaggregation of Revenue [Line Items]
Revenues	0	0	0
Corporate and Other | Finance lease income
Disaggregation of Revenue [Line Items]
Revenues	0	0	0
Corporate and Other | Asset sales revenue
Disaggregation of Revenue [Line Items]
Revenues	0	0	0
Corporate and Other | Aerospace products revenue
Disaggregation of Revenue [Line Items]
Revenues	0	0	0
Corporate and Other | Other revenue
Disaggregation of Revenue [Line Items]
Revenues	$ 6,702	$ 4,030	$ 5,578

REVENUES - Lease Revenue (Detai

REVENUES - Lease Revenue (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Lessor, Operating Lease, Payments, Fiscal Year Maturity [Abstract]
2023	$ 141,154
2024	86,337
2025	58,334
2026	39,465
2027	24,810
Thereafter	44,285
Total	$ 394,385

EQUITY-BASED COMPENSATION (Sche

EQUITY-BASED COMPENSATION (Schedule of Stock-based Compensation Arrangements) (Details) - Stock Options - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Stock options outstanding, beginning balance (in shares)	3,762,742
Granted (in shares)	0
Exercised (in shares)	(2,027,426)
Forfeited and canceled (in shares)	0
Stock options outstanding, ending balance (in shares)	1,735,316	3,762,742
Weighted Average Exercise Price
Stock options outstanding (in dollars per share)	$ 22.67	$ 21.02
Granted (in dollars per share)	0
Exercised/vested (in dollars per share)	14.52
Forfeited and cancelled (in dollars per share)	0
Weighted average exercise / issuance price (in dollars per share)	$ 22.67	$ 21.02
Aggregate intrinsic value (in thousands)	$ 128
Weighted average remaining contractual term (in years)	8 years 6 months

EQUITY-BASED COMPENSATION (Narr

EQUITY-BASED COMPENSATION (Narrative) (Details)	12 Months Ended
	Dec. 31, 2022 shares
Manager
Stock Options
Granted (in shares)	336,862

EQUITY-BASED COMPENSATION (Sc_2

EQUITY-BASED COMPENSATION (Schedule of Share-based Payment Award) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Stock Options
Stock Options
Number of options (in shares)	0
Manager
Stock Options
Number of options (in shares)	336,862
Manager | Stock Options
Stock Options
Number of options (in shares)		1,684,318	129,988
Fair value ($ millions)		$ 13.8	$ 0.7
Expected term		10 years	10 years
Manager | Stock Options | Minimum
Stock Options
Expected volatility		44.78%	61.27%
Risk free interest rate		1.34%	0.51%
Expected dividend yield		3.16%	6.23%
Manager | Stock Options | Maximum
Stock Options
Expected volatility		45.60%	62.12%
Risk free interest rate		1.70%	0.76%
Expected dividend yield		3.64%	11.79%

INCOME TAXES - Components of In

INCOME TAXES - Components of Income Tax Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Current:
Cayman Islands	$ 0	$ 0	$ 0
United States:
Federal	522	1,850	(114)
State and local	1,687	760	0
Non-U.S.	443	(11)	537
Total current provision	2,652	2,599	423
Deferred:
Cayman Islands	0	0	0
United States:
Federal	1,305	126	(474)
State and local	242	122	(142)
Non-U.S.	1,101	279	(4,150)
Total deferred (benefit) provision	2,648	527	(4,766)
Provision for (benefit from) income taxes:
Continuing operations	5,300	3,126	(4,343)
Discontinued operations	8,227	(4,183)	(1,562)
Total	$ 13,527	$ (1,057)	$ (5,905)

INCOME TAXES - Provision for In

INCOME TAXES - Provision for Income Tax Reconciliation (Details)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Income subject to tax in the United States	(6.90%)	(7.20%)	0.30%
Foreign taxes	13.50%	(8.70%)	3.20%
Change in valuation allowance	(11.60%)	8%	6.50%
Provision for income taxes	(5.00%)	(7.90%)	10%

INCOME TAXES - Components of De

INCOME TAXES - Components of Deferred Tax Assets and Liabilities (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Deferred tax assets:
Net operating loss carryforwards	$ 43,116,000	$ 27,154,000
Interest expense	2,754,000	1,530,000
Investment in Partnerships	963,000	1,519,000
Other	272,000	320,000
Total deferred tax assets	47,105,000	30,523,000
Less valuation allowance	(27,565,000)	(9,142,000)	$ (6,794,000)	$ (2,603,000)
Net deferred tax assets	19,540,000	21,381,000
Deferred tax liabilities:
Fixed assets	(22,794,000)	(20,072,000)
Net deferred tax liabilities	$ (3,254,000)
Net deferred tax assets		$ 1,309,000

INCOME TAXES - Additional Infor

INCOME TAXES - Additional Information (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Operating Loss Carryforwards [Line Items]
Valuation allowance	$ 27,565,000	$ 9,142,000	$ 6,794,000	$ 2,603,000
Subsidiaries | U.S. Federal
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	39,300,000
Revenue Commissioners, Ireland
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	250,100,000
Inland Revenue Board of Malaysia | Foreign Tax Authority
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	1,300,000
Australian Taxation Office | Foreign Tax Authority
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	5,400,000
Tax Year 2034
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	600,000
No Expiration Date
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	$ 38,700,000

INCOME TAXES - Changes in Valua

INCOME TAXES - Changes in Valuation Allowance (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Valuation Allowance [Roll Forward]
Valuation allowance at beginning of period	$ 9,142,000	$ 6,794,000	$ 2,603,000
Change due to current year losses	22,094,000	2,356,000	4,191,000
Change due to current year releases	(3,671,000)	(8,000)	0
Valuation allowance at end of period	$ 27,565,000	$ 9,142,000	$ 6,794,000

MANAGEMENT AGREEMENT AND AFFI_3

MANAGEMENT AGREEMENT AND AFFILIATE TRANSACTIONS (Details)	1 Months Ended	12 Months Ended
	May 31, 2015	Dec. 31, 2022
Threshold 1 | Income incentive allocation
Related Party Transaction [Line Items]
Percent of pre-incentive allocation net income	0%
Quarterly percent of pre-incentive allocation net income	2%
Annual percent of pre-incentive allocation net income		8%
Threshold 2 | Income incentive allocation
Related Party Transaction [Line Items]
Percent of pre-incentive allocation net income	100%
Threshold 2 | Income incentive allocation | Minimum
Related Party Transaction [Line Items]
Quarterly percent of pre-incentive allocation net income	2%
Threshold 2 | Income incentive allocation | Maximum
Related Party Transaction [Line Items]
Quarterly percent of pre-incentive allocation net income	2.2223%
Threshold 3 | Income incentive allocation
Related Party Transaction [Line Items]
Percent of pre-incentive allocation net income	10%
Quarterly percent of pre-incentive allocation net income	2.2223%
General Partner
Related Party Transaction [Line Items]
Ownership percentage by manager	0.01%
Manager
Related Party Transaction [Line Items]
Management fee percentage rate	1.50%
Fortress Worldwide Transportation and Infrastructure Master GP LLP
Related Party Transaction [Line Items]
Incentive distribution percentage	10%	10%
Cumulative preferred return		10%

MANAGEMENT AGREEMENT AND AFFI_4

MANAGEMENT AGREEMENT AND AFFILIATE TRANSACTIONS - Management fees, incentive allocation and capital gains (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Related Party Transaction [Line Items]
Management fees and incentive allocation to affiliate	$ 3,562	$ 684	$ 5,446
General Partner
Related Party Transaction [Line Items]
Management fees and incentive allocation to affiliate	3,562	684	5,446
Management fees | General Partner
Related Party Transaction [Line Items]
Management fees and incentive allocation to affiliate	73	684	5,446
Income incentive allocation | General Partner
Related Party Transaction [Line Items]
Management fees and incentive allocation to affiliate	3,489	0	0
Capital gains incentive allocation | General Partner
Related Party Transaction [Line Items]
Management fees and incentive allocation to affiliate	$ 0	$ 0	$ 0

MANAGEMENT AGREEMENT AND AFFI_5

MANAGEMENT AGREEMENT AND AFFILIATE TRANSATIONS - Reimbursement to Manager (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Related Party Transaction [Line Items]
Management fees and incentive allocation to affiliate	$ 3,562	$ 684	$ 5,446
Manager
Related Party Transaction [Line Items]
Management fees and incentive allocation to affiliate	8,035	7,068	7,580
General and administrative expenses | Manager
Related Party Transaction [Line Items]
Management fees and incentive allocation to affiliate	6,891	4,915	5,499
Acquisition and transaction expenses | Manager
Related Party Transaction [Line Items]
Management fees and incentive allocation to affiliate	$ 1,144	$ 2,153	$ 2,081

MANAGEMENT AGREEMENT AND AFFI_6

MANAGEMENT AGREEMENT AND AFFILIATE TRANSACTIONS - Amounts due to Manager (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Accrued management fees
Related Party Transaction [Line Items]
Management fee payable	$ 53	$ 1,495
Other payables
Related Party Transaction [Line Items]
Management fee payable	$ 4,688	$ 2,283

SEGMENT INFORMATION - Narrative

SEGMENT INFORMATION - Narrative (Details) - 12 months ended Dec. 31, 2022	number_of_segment	Segment
Segment Reporting [Abstract]
Number of reportable segments	2	2

SEGMENT INFORMATION - Statement

SEGMENT INFORMATION - Statement of Income by Segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenues
Revenues	$ 708,411	$ 335,583	$ 297,934
Expenses
Cost of sales	248,385	14,308	0
Operating expenses	132,264	59,615	40,121
General and administrative	14,164	13,448	14,106
Acquisition and transaction expenses	13,207	17,911	9,868
Management fees and incentive allocation to affiliate	3,562	684	5,446
Depreciation and amortization	152,917	147,740	141,286
Asset impairment	137,219	10,463	33,978
Interest expense	169,194	155,017	87,442
Total expenses	870,912	419,186	332,247
Other income (expense)
Equity in losses of unconsolidated entities	(369)	(1,403)	(1,932)
Gain on sale of assets, net	77,211	49,015	(300)
Loss on extinguishment of debt	(19,859)	(3,254)	(6,943)
Other income (expense)	207	(490)	94
Total other income (expense)	57,190	43,868	(9,081)
Income (loss) from continuing operations before income taxes	(105,311)	(39,735)	(43,394)
Provision for (benefit from) income taxes	5,300	3,126	(4,343)
Net loss from continuing operations	(110,611)	(42,861)	(39,051)
Less: Net loss from continuing operations attributable to non-controlling interests in consolidated subsidiaries	0	0	0
Less: Dividends on preferred shares	27,164	24,758	17,869
Net income (loss) attributable to shareholders from continuing operations	(137,775)	(67,619)	(56,920)
Aviation Leasing
Revenues
Revenues	527,913	298,121	281,211
Aerospace Products
Revenues
Revenues	153,550	23,301	0
Operating Segments | Aviation Leasing
Revenues
Revenues	527,913	298,121	281,211
Expenses
Cost of sales	159,490	0
Operating expenses	81,232	32,757	20,667
General and administrative	0	0	0
Acquisition and transaction expenses	1,923	982	6,687
Management fees and incentive allocation to affiliate	0	0	0
Depreciation and amortization	144,258	139,678	133,904
Asset impairment	137,219	10,463	33,978
Interest expense	0	0	0
Total expenses	524,122	183,880	195,236
Other income (expense)
Equity in losses of unconsolidated entities	740	0	(1,932)
Gain on sale of assets, net	58,649	29,098	(300)
Loss on extinguishment of debt	0	0	0
Other income (expense)	246	(527)	94
Total other income (expense)	59,635	28,571	(2,138)
Income (loss) from continuing operations before income taxes	63,426	142,812	83,837
Provision for (benefit from) income taxes	2,502	2,073	(4,812)
Net loss from continuing operations	60,924	140,739	88,649
Less: Net loss from continuing operations attributable to non-controlling interests in consolidated subsidiaries	0	0	0
Less: Dividends on preferred shares	0	0	0
Net income (loss) attributable to shareholders from continuing operations	60,924	140,739	88,649
Operating Segments | Aerospace Products
Revenues
Revenues	153,550	23,301	0
Expenses
Cost of sales	88,895	14,308
Operating expenses	11,967	5,429	0
General and administrative	0	0	0
Acquisition and transaction expenses	243	0	0
Management fees and incentive allocation to affiliate	0	0	0
Depreciation and amortization	258	66	0
Asset impairment	0	0	0
Interest expense	0	0	0
Total expenses	101,363	19,803	0
Other income (expense)
Equity in losses of unconsolidated entities	(1,109)	(1,403)	0
Gain on sale of assets, net	18,562	19,917	0
Loss on extinguishment of debt	0	0	0
Other income (expense)	0	0	0
Total other income (expense)	17,453	18,514	0
Income (loss) from continuing operations before income taxes	69,640	22,012	0
Provision for (benefit from) income taxes	2,961	1,135	0
Net loss from continuing operations	66,679	20,877	0
Less: Net loss from continuing operations attributable to non-controlling interests in consolidated subsidiaries	0	0	0
Less: Dividends on preferred shares	0	0	0
Net income (loss) attributable to shareholders from continuing operations	66,679	20,877	0
Corporate and Other
Revenues
Revenues	26,948	14,161	16,723
Expenses
Cost of sales	0	0
Operating expenses	39,065	21,429	19,454
General and administrative	14,164	13,448	14,106
Acquisition and transaction expenses	11,041	16,929	3,181
Management fees and incentive allocation to affiliate	3,562	684	5,446
Depreciation and amortization	8,401	7,996	7,382
Asset impairment	0	0	0
Interest expense	169,194	155,017	87,442
Total expenses	245,427	215,503	137,011
Other income (expense)
Equity in losses of unconsolidated entities	0	0	0
Gain on sale of assets, net	0	0	0
Loss on extinguishment of debt	(19,859)	(3,254)	(6,943)
Other income (expense)	(39)	37	0
Total other income (expense)	(19,898)	(3,217)	(6,943)
Income (loss) from continuing operations before income taxes	(238,377)	(204,559)	(127,231)
Provision for (benefit from) income taxes	(163)	(82)	469
Net loss from continuing operations	(238,214)	(204,477)	(127,700)
Less: Net loss from continuing operations attributable to non-controlling interests in consolidated subsidiaries	0	0	0
Less: Dividends on preferred shares	27,164	24,758	17,869
Net income (loss) attributable to shareholders from continuing operations	$ (265,378)	$ (229,235)	$ (145,569)

SEGMENT INFORMATION - Reconcili

SEGMENT INFORMATION - Reconciliation of Adjusted Net Income to Net Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Segment Reporting Information [Line Items]
Adjusted EBITDA	$ 428,097	$ 322,828	$ 266,469
Add: Non-controlling share of Adjusted EBITDA	0	0	0
Equity in losses of unconsolidated entities	(369)	(1,403)	(1,932)
Less: Pro-rata share of Adjusted EBITDA from unconsolidated entities	(40)	1,203	1,932
Less: Interest expense and dividends on preferred shares	(196,358)	(179,775)	(105,311)
Less: Depreciation and amortization expense	(190,031)	(175,718)	(171,632)
Less: Incentive allocations	(3,489)	0	0
Asset impairment	(137,219)	(10,463)	(33,978)
Less: Changes in fair value of non-hedge derivative instruments	0	0	0
Less: Losses on the modification or extinguishment of debt and capital lease obligations	(19,859)	(3,254)	(6,943)
Less: Acquisition and transaction expenses	(13,207)	(17,911)	(9,868)
Less: Equity-based compensation expense	0	0	0
Provision for (benefit from) income taxes	(5,300)	(3,126)	4,343
Net income (loss) attributable to shareholders from continuing operations	(137,775)	(67,619)	(56,920)
Operating Segments | Aviation Leasing
Segment Reporting Information [Line Items]
Adjusted EBITDA	384,125	321,913	288,752
Equity in losses of unconsolidated entities	740	0	(1,932)
Asset impairment	(137,219)	(10,463)	(33,978)
Less: Acquisition and transaction expenses	(1,923)	(982)	(6,687)
Provision for (benefit from) income taxes	(2,502)	(2,073)	4,812
Net income (loss) attributable to shareholders from continuing operations	60,924	140,739	88,649
Operating Segments | Aerospace Products
Segment Reporting Information [Line Items]
Adjusted EBITDA	70,365	22,278	0
Equity in losses of unconsolidated entities	(1,109)	(1,403)	0
Asset impairment	0	0	0
Less: Acquisition and transaction expenses	(243)	0	0
Provision for (benefit from) income taxes	(2,961)	(1,135)	0
Net income (loss) attributable to shareholders from continuing operations	66,679	20,877	0
Corporate and Other
Segment Reporting Information [Line Items]
Adjusted EBITDA	(26,393)	(21,363)	(22,283)
Equity in losses of unconsolidated entities	0	0	0
Asset impairment	0	0	0
Less: Acquisition and transaction expenses	(11,041)	(16,929)	(3,181)
Provision for (benefit from) income taxes	163	82	(469)
Net income (loss) attributable to shareholders from continuing operations	$ (265,378)	$ (229,235)	$ (145,569)

SEGMENT INFORMATION - Summary o

SEGMENT INFORMATION - Summary of Geographic Sources of Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Segment Reporting Information [Line Items]
Revenues	$ 708,411	$ 335,583	$ 297,934
Aviation Leasing
Segment Reporting Information [Line Items]
Revenues	527,913	298,121	281,211
Aerospace Products
Segment Reporting Information [Line Items]
Revenues	153,550	23,301	0
Africa
Segment Reporting Information [Line Items]
Revenues	1,865	235	10,259
Asia
Segment Reporting Information [Line Items]
Revenues	124,632	128,474	126,694
Europe
Segment Reporting Information [Line Items]
Revenues	167,623	133,538	124,670
North America
Segment Reporting Information [Line Items]
Revenues	372,146	62,196	33,047
South America
Segment Reporting Information [Line Items]
Revenues	42,145	11,140	3,264
Operating Segments | Aviation Leasing
Segment Reporting Information [Line Items]
Revenues	527,913	298,121	281,211
Operating Segments | Aerospace Products
Segment Reporting Information [Line Items]
Revenues	153,550	23,301	0
Operating Segments | Africa | Aviation Leasing
Segment Reporting Information [Line Items]
Revenues	250	235	10,259
Operating Segments | Africa | Aerospace Products
Segment Reporting Information [Line Items]
Revenues	1,615	0	0
Operating Segments | Asia | Aviation Leasing
Segment Reporting Information [Line Items]
Revenues	84,953	114,313	110,057
Operating Segments | Asia | Aerospace Products
Segment Reporting Information [Line Items]
Revenues	12,731	0	0
Operating Segments | Europe | Aviation Leasing
Segment Reporting Information [Line Items]
Revenues	130,128	131,205	124,670
Operating Segments | Europe | Aerospace Products
Segment Reporting Information [Line Items]
Revenues	37,495	2,333	0
Operating Segments | North America | Aviation Leasing
Segment Reporting Information [Line Items]
Revenues	270,514	41,228	32,961
Operating Segments | North America | Aerospace Products
Segment Reporting Information [Line Items]
Revenues	101,632	20,968	0
Operating Segments | South America | Aviation Leasing
Segment Reporting Information [Line Items]
Revenues	42,068	11,140	3,264
Operating Segments | South America | Aerospace Products
Segment Reporting Information [Line Items]
Revenues	77	0	0
Corporate and Other
Segment Reporting Information [Line Items]
Revenues	26,948	14,161	16,723
Corporate and Other | Africa
Segment Reporting Information [Line Items]
Revenues	0	0	0
Corporate and Other | Asia
Segment Reporting Information [Line Items]
Revenues	26,948	14,161	16,637
Corporate and Other | Europe
Segment Reporting Information [Line Items]
Revenues	0	0	0
Corporate and Other | North America
Segment Reporting Information [Line Items]
Revenues	0	0	86
Corporate and Other | South America
Segment Reporting Information [Line Items]
Revenues	$ 0	$ 0	$ 0

SEGMENT INFORMATION - Location

SEGMENT INFORMATION - Location of Long-Lived Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Leasing equipment, net	$ 1,923,567	$ 1,893,900
Africa | Property, plant and equipment and leasing equipment, net
Segment Reporting Information [Line Items]
Leasing equipment, net	7,952	0
Asia | Property, plant and equipment and leasing equipment, net
Segment Reporting Information [Line Items]
Leasing equipment, net	383,378	543,609
Europe | Property, plant and equipment and leasing equipment, net
Segment Reporting Information [Line Items]
Leasing equipment, net	821,840	839,555
North America | Property, plant and equipment and leasing equipment, net
Segment Reporting Information [Line Items]
Leasing equipment, net	424,617	265,203
South America | Property, plant and equipment and leasing equipment, net
Segment Reporting Information [Line Items]
Leasing equipment, net	$ 285,780	$ 245,533

EARNINGS PER SHARE AND EQUITY -

EARNINGS PER SHARE AND EQUITY - EPS Schedule (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Earnings Per Share [Abstract]
Net loss from continuing operations	$ (110,611)	$ (42,861)	$ (39,051)
Net loss from discontinued operations, net of income taxes	(101,416)	(87,845)	(64,641)
Net loss	(212,027)	(130,706)	(103,692)
Less: Net loss attributable to non-controlling interests in consolidated subsidiaries:
Continuing operations	0	0	0
Discontinued operations	(18,817)	(26,472)	(16,522)
Less: Dividends on preferred shares	27,164	24,758	17,869
Net loss attributable to shareholders	(220,374)	(128,992)	(105,039)
Net loss attributable to shareholders	$ (220,374)	$ (128,992)	$ (105,039)
Weighted Average Common Shares Outstanding - Basic (in shares)	99,421,008	89,922,088	86,015,702
Weighted Average Common Shares Outstanding - Diluted (in shares)	99,421,008	89,922,088	86,015,702
Basic
Continuing operations (usd per share)	$ (1.39)	$ (0.75)	$ (0.66)
Discontinued operations (usd per share)	(0.83)	(0.68)	(0.56)
Diluted
Continuing operations (usd per share)	(1.39)	(0.75)	(0.66)
Discontinued operations (usd per share)	$ (0.83)	$ (0.68)	$ (0.56)

EARNINGS PER SHARE AND EQUITY_2

EARNINGS PER SHARE AND EQUITY - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended				12 Months Ended
	Sep. 30, 2021	Mar. 31, 2021	Nov. 30, 2019	Sep. 30, 2019	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Jun. 30, 2022	Oct. 12, 2021
Earnings Per Share [Line Items]
Antidilutive shares excluded from the calculation of diluted EPS (in shares)					582,200	898,299	24,652
Shares issued for service (in shares)					19,811
Common stock, shares issued (in shares)	12,000,000				99,716,621	99,180,385			1,283,863
Common stock, par value (usd per share)	$ 0.01				$ 0.01	$ 0.01			$ 0.01
Price per share (usd per share)	$ 25.50								$ 25.50
Proceeds from issuance of ordinary shares, net of underwriter's discount	$ 291,700				$ 0	$ 323,124	$ 0
Preferred stock, shares issued (in shares)					13,320,000	13,320,000
Preferred stock, par value (usd per share)					$ 0.01	$ 0.01
Proceeds from issuance of shares, net					$ 0	$ 101,200	$ 19,694
Series A Preferred Stock
Earnings Per Share [Line Items]
Preferred stock, shares issued (in shares)			4,600,000	3,450,000
Stated rate			8%	8.25%
Preferred stock, liquidation preference per share			$ 25	$ 25
Preferred stock, par value (usd per share)			$ 0.01	$ 0.01
Proceeds from issuance of shares, net			$ 111,100	$ 82,900
8.25% Fixed-Rate Reset Series C Cumulative Perpetual Redeemable Preferred Shares
Earnings Per Share [Line Items]
Preferred stock, shares issued (in shares)		4,200,000
Stated rate		8.25%
Preferred stock, liquidation preference per share		$ 25
Preferred stock, par value (usd per share)		$ 0.01
Proceeds from issuance of shares, net		$ 101,200
Series A and Series B Preferred Shares
Earnings Per Share [Line Items]
Price per share (usd per share)							$ 19.54
Preferred stock reserved for future issuance								$ 100,000
Number of shares issued in transaction							1,070,000
Consideration received on transaction							$ 20,600
Granted (in shares)							129,988
Fair value ($ millions)							$ 700

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) $ in Millions	Dec. 31, 2022 USD ($)
Minimum
Commitments and Contingencies Disclosure [Abstract]
Loss contingency, range of possible loss	$ 0
Loss Contingencies [Line Items]
Loss contingency, range of possible loss	0
Maximum
Commitments and Contingencies Disclosure [Abstract]
Loss contingency, range of possible loss	3.3
Loss Contingencies [Line Items]
Loss contingency, range of possible loss	$ 3.3

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - USD ($) $ / shares in Units, $ in Millions		1 Months Ended	12 Months Ended
	Feb. 23, 2023	Jan. 31, 2023	Jan. 04, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Subsequent Event [Line Items]
Common stock dividends declared (in dollars per share)				$ 1.26	$ 1.32	$ 1.32
Subsequent Event
Subsequent Event [Line Items]
Shares issued (in shares)		12,165
Subsequent Event | iAero Thrust LLC
Subsequent Event [Line Items]
Percent interest acquired			50%
Pro rate distribution of income percentage			45%
Aggregate purchase price			$ 19.5
Subsequent Event | Ordinary Shares(1)
Subsequent Event [Line Items]
Common stock dividends declared (in dollars per share)	$ 0.30
Subsequent Event | Series A Preferred Stock
Subsequent Event [Line Items]
Common stock dividends declared (in dollars per share)	0.52
Subsequent Event | Series B Preferred Stock
Subsequent Event [Line Items]
Common stock dividends declared (in dollars per share)	0.50
Subsequent Event | Series C Preferred Stock
Subsequent Event [Line Items]
Common stock dividends declared (in dollars per share)	$ 0.52