FTAI Infrastructure (FIP) 10-Q 25 Aug 22 2022 Q2 Quarterly report Financial data

Cover page

Cover page - shares	6 Months Ended
	Jun. 30, 2022	Aug. 23, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
Document Transition Report	false
Entity File Number	001-41370
Entity Registrant Name	FTAI INFRASTRUCTURE INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	87-4407005
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
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	FIP
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Small Business	false
Entity Filer Category	Accelerated Filer
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		99,387,467
Entity Central Index Key	0001899883
Document Fiscal Year Focus	2022
Amendment Flag	false
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31

BALANCE SHEET (Statement)

BALANCE SHEET (Statement) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Assets
Total assets	$ 2,560,228	$ 2,442,301
Liabilities
Current liabilities	174,891	129,467
Total liabilities	1,214,415	980,255
Equity
Total liabilities and equity	2,560,228	2,442,301
FTAI Infrastructure LLC
Assets
Cash	30,001	0
Other assets	25,697	0
Total assets	55,698	0
Liabilities
Current liabilities	23,560	0
Total liabilities	23,560	0
Equity
Membership interest	32,138	0
Total members' equity	32,138	0
Total liabilities and equity	$ 55,698	$ 0

STATEMENT OF OPERATIONS (Statem

STATEMENT OF OPERATIONS (Statement) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Total revenues	$ 65,868	$ 15,344
Transaction related costs	8,872	2,560
Total expenses	80,983	37,003
Net loss	$ (37,960)	$ (32,060)
Loss per share:
Basic (in dollars per share)	$ (0.30)	$ (0.26)
Diluted (in dollars per share)	$ (0.30)	$ (0.26)
Weighted average shares outstanding:
Basic (in shares)	99,387,467	99,387,467
Diluted (in shares)	99,387,467	99,387,467
FTAI Infrastructure LLC
Total revenues	$ 0	$ 0
Transaction related costs	25	25
Total expenses	25	25
Net loss	$ (25)	$ (25)
Loss per share:
Basic (in dollars per share)	$ 0	$ 0
Diluted (in dollars per share)	$ 0	$ 0
Weighted average shares outstanding:
Basic (in shares)	99,387,467	99,387,467
Diluted (in shares)	99,387,467	99,387,467

STATEMENT OF CHANGES IN EQUITY

STATEMENT OF CHANGES IN EQUITY (Statement) - USD ($) $ in Thousands	Total	FTAI Infrastructure LLC
Beginning balance at Dec. 31, 2020	$ 995,397
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(14,290)
Net transfers from Parent	30,997
Ending balance at Mar. 31, 2021	1,024,885
Beginning balance at Dec. 31, 2020	995,397
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(46,349)
Ending balance at Jun. 30, 2021	1,051,629
Beginning balance at Mar. 31, 2021	1,024,885
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(32,060)	$ (25)
Net transfers from Parent	90,580
Ending balance at Jun. 30, 2021	1,051,629
Beginning balance at Dec. 31, 2021	1,462,046	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(50,288)	0
Net transfers from Parent	34,270	1
Ending balance at Mar. 31, 2022	1,349,789	1
Beginning balance at Dec. 31, 2021	1,462,046	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(88,248)	(25)
Ending balance at Jun. 30, 2022	1,345,813	32,138
Beginning balance at Mar. 31, 2022	1,349,789	1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(37,960)	(25)
Net transfers from Parent	77,126	32,162
Ending balance at Jun. 30, 2022	$ 1,345,813	$ 32,138

STATEMENT OF CASH FLOWS (Statem

STATEMENT OF CASH FLOWS (Statement) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2022
Cash flows from operating activities:
Net loss	$ (37,960)	$ (50,288)	$ (88,248)
Net cash used in operating activities			(55,390)
Cash flows from investing activities:
Net transfers from Parent, net			111,396
Net cash provided by financing activities			121,131
Net Increase in cash and cash equivalents			(55,435)
Cash and cash equivalents and restricted cash, beginning of period		301,855	301,855
Cash and cash equivalents and restricted cash, end of period	246,420		246,420
FTAI Infrastructure LLC
Cash flows from operating activities:
Net loss	(25)	0	(25)
Net cash used in operating activities			(25)
Cash flows from investing activities:
Net transfers from Parent, net			30,026
Net cash provided by financing activities			30,026
Net Increase in cash and cash equivalents			30,001
Cash and cash equivalents and restricted cash, beginning of period		$ 0	0
Cash and cash equivalents and restricted cash, end of period	$ 30,001		30,001
Deferred financing costs			$ (2,136)

COMBINED CONSOLIDATED BALANCE S

COMBINED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Assets
Cash and cash equivalents	$ 68,469	$ 49,872
Restricted cash	177,951	251,983
Accounts receivable, net	88,573	50,301
Other current assets	92,598	60,828
Total current assets	427,591	412,984
Leasing equipment, net	35,459	36,012
Operating lease right-of-use assets, net	70,148	71,547
Property, plant, and equipment, net	1,598,982	1,517,594
Investments	76,905	54,408
Intangible assets, net	63,977	67,737
Goodwill	262,819	257,137
Other assets	24,347	24,882
Total assets	2,560,228	2,442,301
Liabilities
Accounts payable and accrued liabilities	162,096	115,634
Operating lease liabilities	2,973	2,899
Other current liabilities	9,822	10,934
Total current liabilities	174,891	129,467
Debt, net	729,410	718,624
Operating lease liabilities	66,166	67,505
Other liabilities	243,948	64,659
Total liabilities	1,214,415	980,255
Commitments and contingencies
Equity
Net Parent investment	1,656,695	1,617,601
Accumulated other comprehensive loss	(300,126)	(155,464)
Parent company equity	1,356,569	1,462,137
Non-controlling interest in equity of consolidated subsidiaries	(10,756)	(91)
Total equity	1,345,813	1,462,046
Total liabilities and equity	$ 2,560,228	$ 2,442,301

COMBINED CONSOLIDATED STATEMENT

COMBINED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Revenues
Total revenues	$ 65,868	$ 15,344	$ 112,016	$ 35,886
Expenses
Operating expenses	49,229	17,309	87,297	34,118
General and administrative	2,498	1,631	4,928	3,665
Acquisition and transaction expenses	8,872	2,560	13,108	3,518
Management fees and incentive allocation to affiliate	3,065	3,817	7,226	7,415
Depreciation and amortization	17,319	11,686	34,315	21,769
Total expenses	80,983	37,003	146,874	70,485
Other income (expense)
Equity in losses of unconsolidated entities	(13,859)	(6,811)	(35,902)	(7,264)
Gain on sale of assets, net	0	16	0	16
Interest expense	(6,486)	(3,529)	(12,945)	(5,012)
Other (expense) income	(553)	(792)	(1,012)	(611)
Total other expense	(20,898)	(11,116)	(49,859)	(12,871)
Loss before income taxes	(36,013)	(32,775)	(84,717)	(47,470)
Provision for (benefit from) income taxes	1,947	(715)	3,531	(1,121)
Net loss	(37,960)	(32,060)	(88,248)	(46,349)
Less: Net loss attributable to non-controlling interests in consolidated subsidiaries	(8,480)	(6,625)	(15,946)	(11,586)
Net loss attributable to Parent	$ (29,480)	$ (25,435)	$ (72,302)	$ (34,763)
Loss per share:
Basic (in dollars per share)	$ (0.30)	$ (0.26)	$ (0.73)	$ (0.35)
Diluted (in dollars per share)	$ (0.30)	$ (0.26)	$ (0.73)	$ (0.35)
Weighted average shares outstanding:
Basic (in shares)	99,387,467	99,387,467	99,387,467	99,387,467
Diluted (in shares)	99,387,467	99,387,467	99,387,467	99,387,467

COMBINED CONSOLIDATED STATEME_2

COMBINED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement of Comprehensive Income [Abstract]
Net loss		$ (37,960)	$ (32,060)	$ (88,248)	$ (46,349)
Other comprehensive loss:
Other comprehensive loss related to equity method investees, net	[1]	(47,714)	(33,215)	(144,662)	(21,548)
Comprehensive loss		(85,674)	(65,275)	(232,910)	(67,897)
Comprehensive loss attributable to non-controlling interest		(8,480)	(6,625)	(15,946)	(11,586)
Comprehensive loss attributable to Parent		$ (77,194)	$ (58,650)	$ (216,964)	$ (56,311)
[1]Net of deferred tax benefit of $— and $(6,734) for the three months ended June 30, 2022 and 2021, respectively, and $— and $(3,633) for the six months ended June 30, 2022 and 2021, respectively.

COMBINED CONSOLIDATED STATEME_3

COMBINED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement of Comprehensive Income [Abstract]
Tax benefit, cash flow hedge	$ 0	$ (6,734)	$ 0	$ (3,633)

COMBINED CONSOLIDATED STATEME_4

COMBINED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY - USD ($) $ in Thousands	Total	Net Parent Investment	Accumulated Other Comprehensive Loss	Non-Controlling Interest in Equity of Consolidated Subsidiaries
Beginning balance at Dec. 31, 2020	$ 995,397	$ 999,291	$ (26,237)	$ 22,343
Comprehensive income (loss):
Net loss	(14,290)	(9,329)		(4,961)
Other comprehensive loss	11,667		11,667
Comprehensive loss	(2,623)	(9,329)	11,667	(4,961)
Net transfers from Parent	30,997	30,997
Equity-based compensation	1,114			1,114
Ending balance at Mar. 31, 2021	1,024,885	1,020,959	(14,570)	18,496
Beginning balance at Dec. 31, 2020	995,397	999,291	(26,237)	22,343
Comprehensive income (loss):
Net loss	(46,349)
Comprehensive loss	(67,897)
Ending balance at Jun. 30, 2021	1,051,629	1,086,104	(47,785)	13,310
Beginning balance at Mar. 31, 2021	1,024,885	1,020,959	(14,570)	18,496
Comprehensive income (loss):
Net loss	(32,060)	(25,435)		(6,625)
Other comprehensive loss	(33,215)		(33,215)
Comprehensive loss	(65,275)	(25,435)	(33,215)	(6,625)
Net transfers from Parent	90,580	90,580
Equity-based compensation	1,439			1,439
Ending balance at Jun. 30, 2021	1,051,629	1,086,104	(47,785)	13,310
Beginning balance at Dec. 31, 2021	1,462,046	1,617,601	(155,464)	(91)
Comprehensive income (loss):
Net loss	(50,288)	(42,822)		(7,466)
Other comprehensive loss	(96,948)		(96,948)
Comprehensive loss	(147,236)	(42,822)	(96,948)	(7,466)
Net transfers from Parent	34,270	34,270
Equity-based compensation	709			709
Ending balance at Mar. 31, 2022	1,349,789	1,609,049	(252,412)	(6,848)
Beginning balance at Dec. 31, 2021	1,462,046	1,617,601	(155,464)	(91)
Comprehensive income (loss):
Net loss	(88,248)
Comprehensive loss	(232,910)
Ending balance at Jun. 30, 2022	1,345,813	1,656,695	(300,126)	(10,756)
Beginning balance at Mar. 31, 2022	1,349,789	1,609,049	(252,412)	(6,848)
Comprehensive income (loss):
Net loss	(37,960)	(29,480)		(8,480)
Other comprehensive loss	(47,714)		(47,714)
Comprehensive loss	(85,674)	(29,480)	(47,714)	(8,480)
Acquisition of consolidated subsidiary	3,054			3,054
Contributions from non-controlling interest	562			562
Net transfers from Parent	77,126	77,126
Equity-based compensation	956			956
Ending balance at Jun. 30, 2022	$ 1,345,813	$ 1,656,695	$ (300,126)	$ (10,756)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Cash flows from operating activities:
Net loss	$ (88,248)	$ (46,349)
Adjustments to reconcile net loss to net cash used in operating activities:
Equity in losses of unconsolidated entities	35,902	7,264
Gain on sale of assets, net	0	(16)
Equity-based compensation	1,665	2,553
Depreciation and amortization	34,315	21,769
Change in deferred income taxes	3,327	(1,238)
Change in fair value of non-hedge derivative	(748)	(6,573)
Amortization of deferred financing costs	1,695	1,051
Provision for (benefit from) credit losses	90	(4)
Change in:
Accounts receivable	(30,585)	(55,531)
Other assets	(21,583)	(30,826)
Accounts payable and accrued liabilities	12,939	50,476
Management fees payable to affiliate	0	(19)
Other liabilities	(4,159)	(337)
Net cash used in operating activities	(55,390)	(57,780)
Cash flows from investing activities:
Investment in unconsolidated entities	(2,745)	345
Investment in convertible promissory notes	(5,000)	0
Acquisition of business, net of cash acquired	(3,819)	0
Acquisition of property, plant and equipment	(113,916)	(74,012)
Proceeds from sale of property, plant and equipment	4,304	0
Net cash used in investing activities	(121,176)	(73,667)
Cash flows from financing activities:
Proceeds from debt	9,450	26,100
Payment of deferred financing costs	(277)	(1,309)
Capital contribution from non-controlling interest	562	0
Net transfers from Parent, net	111,396	121,573
Net cash provided by financing activities	121,131	146,364
Net (decrease) increase in cash and cash equivalents and restricted cash	(55,435)	14,917
Cash and cash equivalents and restricted cash, beginning of period	301,855	55,421
Cash and cash equivalents and restricted cash, end of period	246,420	70,338
Supplemental disclosure of non-cash investing and financing activities:
Acquisition of property, plant and equipment	(631)	(891)
Conversion of interests in unconsolidated subsidiaries	(21,302)	0
Non-cash change in equity method investment	$ (144,661)	$ (21,549)

ORGANIZATION

ORGANIZATION	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BUSINESS / ORGANIZATION	1. BUSINESSFTAI Infrastructure LLC (the “Company”) was incorporated in Delaware as a limited liability company on December 13, 2021. The Company was formed in connection with the separation of the infrastructure business of Fortress Transportation & Infrastructure Investors LLC (“FTAI” or the “Parent”) from the Parent. The Company holds all of the material assets, liabilities and investments that comprise FTAI’s infrastructure business, and converted to FTAI Infrastructure Inc., a Delaware corporation, as of August 1, 2022, in connection with the spin-off 1. ORGANIZATION Fortress Transportation and Infrastructure Investors LLC (the “Parent” or “FTAI”) consists of an equipment leasing business that owns and leases aviation and offshore equipment and an infrastructure business that owns and operates multiple infrastructure assets further described below. During the third quarter of 2021, the Parent announced that it was proceeding with a plan to spin off its infrastructure business and separate into two distinct, publicly traded companies comprising the infrastructure business (“we”, “us”, “our”, or “FTAI Infrastructure”) and the aviation business. In preparation for the spin off, the Parent established a new holding company, and the infrastructure business was contributed to or merged into the new holding company, which resulted in the infrastructure business being considered the predecessor of the newly formed FTAI Infrastructure Inc. (the “Holding Company”). On August 1, 2022, the Parent executed the spin-off of its infrastructure business by way of a pro-rata distribution of common stock of FTAI Infrastructure Inc. to Parent common shareholders of record as of the close of business on the spin-off transaction record date. In connection with the spin-off transaction, the Parent was treated as the accounting spinnor, consistent with the legal form of the transaction. Following the spin-off, our Holding Company became a separate public company primarily focused on investing in high quality infrastructure and listed on The Nasdaq Global Select Market under the symbol “FIP.” Our Holding Company is headquartered in New York, New York. FTAI Infrastructure owns and operates (i) a multi-modal crude oil and refined products terminal in Beaumont, Texas (“Jefferson Terminal”), (ii) five freight railroads and one switching company that provide rail service to certain manufacturing and production facilities (“Transtar”), (iii) a deep-water port located along the Delaware River with an underground storage cavern, a multipurpose dock, a rail-to-ship transloading system and multiple industrial development opportunities (“Repauno”), (iv) an equity method investment in a multi-modal terminal located along the Ohio River with multiple industrial development opportunities, including a power plant (“Long Ridge”), and (v) an equity method investment in two ventures developing battery and metal recycling technology (“Aleon” and “Gladieux”). Additionally, we own and lease shipping containers (“Containers”) and operate a railcar cleaning business (“KRS”) as well as an operating company that provides roadside assistance services for the intermodal and over-the-road trucking industries (“FYX”). We have three reportable segments: (i) Jefferson Terminal, (ii) Ports and Terminals and (iii) Transtar, which operate in the infrastructure sector (see Note 17).

BASIS OF PRESENTATION AND SUMMA

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation —The accompanying financial statements are presented on the accrual basis of accounting and in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). Separate statements of income, changes in equity, and cash flows have not been included with the balance sheet as of December 31, 2021 because the Company had not begun its principal operations and had no revenue, expenses, changes in equity, or changes in cash flows to report. Cash —The Company maintains its cash with high-credit quality financial institutions, which are insured by the U.S. Federal Deposit Insurance Corporation. Other Assets —Other assets is comprised of deferred financing fees and stock issuance costs of $25.7 million and $— million accrued as of June 30, 2022 and December 31, 2021, respectively in connection with the anticipated financings. Accrued Liabilities —Accrued liabilities is comprised of fees recorded in connection with the anticipated financings and is due within the next twelve months. Use of Estimates —The preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities as of the date of the financial statements. Actual results could differ from those estimates. 2. BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation —The accompanying Combined Consolidated Financial Statements were prepared on a standalone basis and have been derived from the consolidated financial statements and accounting records of the Parent. These financial statements reflect the combined consolidated historical results of operations, financial position and cash flows of FTAI Infrastructure in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”). Historically, separate financial statements have not been prepared for FTAI Infrastructure and it has not operated as a standalone business separate from the Parent. The accompanying Combined Consolidated Financial Statements have been prepared from the Parent’s historical accounting records and are presented on a standalone basis as if the operations had been conducted independently from Parent. Accordingly, Parent’s net investment in our operations (Parent company equity) is shown in lieu of stockholders’ equity in the accompanying Combined Consolidated Financial Statements, which include the historical operations, assets, and liabilities comprising FTAI Infrastructure. The historical results of operations, financial position, and cash flows of FTAI Infrastructure represented in the Combined Consolidated Financial Statements may not be indicative of what they would have been had FTAI Infrastructure actually been a separate standalone entity during such periods, nor are they necessarily indicative of our future results of operations, financial position, and cash flows. The Combined Consolidated Financial Statements include certain assets and liabilities that have historically been held by the Parent but are specifically identifiable or otherwise attributable to FTAI Infrastructure. All significant intercompany transactions between Parent and FTAI Infrastructure have been included as components of Net Parent investment in the Combined Consolidated Financial Statements, as they are to be considered effectively settled upon effectiveness of the separation. The Combined Consolidated Financial Statements are presented as if our businesses had been combined for all periods presented. The assets and liabilities in the Combined Consolidated Financial Statements have been reflected on a historical cost basis, as immediately prior to the separation, all of the assets and liabilities presented are owned by the Parent and are being transferred to us at a carry-over basis. Cash and Cash Equivalents —The Cash and Cash Equivalents reflected in the financial statements of FTAI Infrastructure are Cash and Cash Equivalents that were legally held by FTAI Infrastructure during the periods presented in the financial statements and are directly attributed to and used in the operations of the infrastructure business. Debt and the Corresponding Interest Expense — The Debt reflected in the financial statements of FTAI Infrastructure is debt that is directly attributable to, and legally incurred by, FTAI Infrastructure’s business. The corresponding interest expense presented in the financial statements is derived solely from the Debt directly attributed to FTAI Infrastructure. Corporate Function —The Combined Consolidated Financial Statements include all revenues and costs directly attributable to FTAI Infrastructure and an allocation of certain expenses. The Parent is externally managed by FIG LLC (the “Manager”), an affiliate of Fortress Investment Group LLC (“Fortress”), which performs the Parent’s corporate function (“Corporate”), and incurs a variety of expenses including, but not limited to, information technology, accounting, treasury, tax, legal, corporate finance and communications. For purposes of the Combined Consolidated Statements of Operations, an allocation of these expenses is included to reflect our portion of such corporate overhead from the Parent. The charges reflected have either been specifically identified or allocated based on an estimate of time spent on FTAI Infrastructure’s businesses. These allocated costs are recorded in general and administrative, and acquisition and transaction expenses in the Combined Consolidated Statements of Operations. We believe the assumptions regarding allocations of the Parent’s Corporate expenses are reasonable. Nevertheless, the allocations may not be indicative of the actual expense that would have been incurred had FTAI Infrastructure operated as an independent, standalone public entity, nor are they indicative of FTAI Infrastructure’s future expenses. Actual costs that may have been incurred if we had been a standalone company would depend on a number of factors, including the organizational structure, what functions were outsourced or performed by employees and strategic decisions made in areas such as information technology and infrastructure. We have entered into an arrangement with the Manager in connection with the separation which has an initial term of six years. The Parent funded our operating and investing activities as needed. Cash transfers to and from the Parent are reflected in the Combined Consolidated Statements of Cash Flows as “Net transfers from Parent”. Refer to Note 16 for additional discussion on corporate costs allocated from the Parent that are included in these Combined Consolidated Financial Statements . Unaudited Interim Financial Information —The accompanying interim Combined Consolidated Balance Sheet as of June 30, 2022, and the Combined Consolidated Statements of Operations, Comprehensive Loss, Changes in Equity and Cash Flows for the three and six months ended June 30, 2022 and 2021 are unaudited. These unaudited interim Combined Consolidated Financial Statements have been prepared in accordance with U.S. GAAP. In the opinion of our management, the unaudited interim Combined Consolidated Financial Statements have been prepared on the same basis as the audited Combined Consolidated Financial Statements and include all adjustments necessary for the fair presentation of our financial position as of June 30, 2022, the results of operations, comprehensive loss, changes in equity and cash flows for the three and six months ended June 30, 2022 and 2021. The results of operations for the three and six months ended June 30, 2022 are not necessarily indicative of the results to be expected for the year ending December 31, 2022 or for any other period. Principles of Combination —FTAI Infrastructure has elected the principles of Combined Consolidated Financial Statements as basis of presentation due to common ownership and management of the entities, which includes the financial results of the Jefferson Terminal, Transtar, and Ports and Terminals segments, and KRS and FYX, which are included in the Corporate and Other segment. Principles of Consolidation — We consolidate all entities in which we have a controlling financial interest and control over significant operating decisions, as well as variable interest entities (“VIEs”) in which we are the primary beneficiary. All significant intercompany transactions and balances have been eliminated. All adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. The ownership interest of other investors in consolidated subsidiaries is recorded as non-controlling interest. We use the equity method of accounting for investments in entities in which we exercise significant influence but which do not meet the requirements for consolidation. Under the equity method, we record our proportionate share of the underlying net income (loss) of these entities 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 combined consolidated financial statements and the reported amounts of revenues and expenses during the reporting period, including allocations from the Parent. 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. 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 do not have significant exposure to foreign currency risk as all of our leasing and revenue arrangements are denominated in U.S. dollars. Variable Interest Entities (“VIE”) — 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. Delaware River Partners LLC During 2016, through Delaware River Partners LLC (“DRP”), a consolidated subsidiary, we purchased the assets of Repauno, which consisted primarily of land, a storage cavern, and riparian rights for the acquired land, site improvements and rights. Upon acquisition there were no operational processes that could be applied to these assets that would result in outputs without significant green field development. We currently hold an approximately 98% economic interest, and a 100% voting interest in DRP. DRP is solely reliant on us to finance its activities and therefore is a VIE. We concluded that we were the primary beneficiary; and accordingly, DRP has been presented on a consolidated basis in the accompanying Combined Consolidated Financial Statements. Total VIE assets of DRP were $331.2 million and $316.5 million, and total VIE liabilities of DRP were $48.2 million and $32.6 million as of June 30, 2022 and December 31, 2021, respectively. Cash and Cash Equivalents — We consider all highly liquid short-term investments with a maturity of 90 days or less when purchased to be cash equivalents. Restricted Cash — Restricted cash consists of prepaid interest and principal pursuant to the requirements of certain of our debt agreements (see Note 8) and other qualifying construction projects at Jefferson Terminal. Other Current Assets —Other current assets is primarily comprised of deferred financing fees and stock issuance costs of $25.7 million and $— million, commodities inventory of $5.9 million and $6.8 million, deposits of $18.2 million and $17.2 million, note receivable of $5.0 million and $7.5 million, prepaid expenses of $20.8 million and $17.4 million, and other assets of $17.1 million and $11.9 million as of June 30, 2022 and December 31, 2021, respectively. 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 their estimated useful lives, to estimated residual values which are summarized as follows: Asset Range of Estimated Useful Lives Residual Value Estimates Railcars and locomotives 40 - 50 years from date of manufacture Scrap value at end of useful life Track and track related assets 15 - 50 years from date of manufacture Scrap value at end of useful life Land, site improvements and rights N/A N/A Bridges and tunnels 15 - 55 years Scrap value at end of useful life Buildings and site improvements 20 - 30 years Scrap value at end of useful life Railroad equipment 3 - 15 years from date of manufacture Scrap value at end of useful life Terminal machinery and equipment 15 - 25 years from date of manufacture Scrap value at end of useful life Vehicles 5 - 7 years from date of manufacture Scrap value at end of useful life 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. Significant spare parts are depreciated in conjunction with the underlying property, plant and equipment asset when placed in service. 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. We, through our equity method investment in Long Ridge, have a working interest in various natural gas reserves located in southeastern Ohio. Capitalized Interest —The interest cost associated with major development and construction projects is 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 $2.2 million, $4.3 million, $1.0 million, and $3.4 million during the three and six months ended June 30, 2022 and 2021, 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 were $4.0 million, $5.4 million, $0.8 million, and $1.7 million during the three and six months ended June 30, 2022 and 2021, respectively, and are included in Operating expenses in the Combined 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 change in market conditions; or the introduction of newer technology. 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 terminal services contracts, future projected leases, terminal service and freight rail rates, transition costs, 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 demand for a particular asset and historical experience, 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, terminal service, and freight rail rates, residual values, economic conditions, technology, demand for a particular asset type and other factors. Goodwill —Goodwill includes the excess of the purchase price over the fair value of the net tangible and intangible assets associated with the acquisition of Jefferson Terminal, Transtar and FYX. The carrying amount of goodwill was approximately $262.8 million and $257.1 million as of June 30, 2022 and December 31, 2021, respectively. We review the carrying values of goodwill at least annually to assess impairment since these assets are not amortized. An annual impairment review is conducted as of October 1st of each year. Additionally, we review 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 the year ended December 31, 2021. We estimate the fair value of the Jefferson and Transtar reporting units using an income approach, specifically a discounted cash flow analysis. This analysis requires us to make significant assumptions and estimates about the forecasted revenue growth rates, EBITDA margins, capital expenditures, the timing of future cash flows, and discount rates. The estimates and assumptions used consider historical performance if indicative of future performance and are consistent with the assumptions used in determining future profit plans for the reporting units. In connection with our impairment analysis, although we believe the estimates of fair value are reasonable, the determination of certain valuation inputs is subject to management's judgment. Changes in these inputs, including as a result of events beyond our control, could materially affect the results of the impairment review. If the forecasted cash flows or other key inputs are negatively revised in the future, the estimated fair value of the reporting unit could be adversely impacted, potentially leading to an impairment in the future that could materially affect our operating results. Due to the acquisition of Transtar in the current year, the estimated fair value of that reporting unit approximates the book value. The Jefferson reporting unit had an estimated fair value that exceeded its carrying value by more than 10% but less than 20% as of October 1, 2021. The Jefferson Terminal segment forecasted revenue is dependent on the ramp up of volumes under current and expected future contracts for storage and throughput of heavy and light crude and refined products and is subject to obtaining rail capacity for crude, expansion of refined product distribution to Mexico and movements in future oil spreads. At October 1, 2021, approximately 4.3 million barrels of storage was currently operational with 1.9 million barrels currently under construction for new contracts which will complete our storage development for our main terminal. Our discount rate for our 2021 goodwill impairment analysis was 9.0% and our assumed terminal growth rate was 2.0%. If our strategy changes from planned capacity downward due to an inability to source contracts or expand volumes, the fair value of the reporting unit would be negatively affected, which could lead to an impairment. The expansion of refineries in the Beaumont/Port Arthur area, as well as growing crude oil production in the U.S. and Canada, are expected to result in increased demand for storage on the U.S. Gulf Coast. Although we do not have significant direct exposure to volatility of crude oil prices, changes in crude oil pricing that affect long term refining planned output could impact Jefferson Terminal operations. We expect the Jefferson Terminal segment to continue to generate positive Adjusted EBITDA in future years. Although certain of our anticipated contracts or expected volumes from existing contracts for Jefferson Terminal have been delayed, we continue to believe our projected revenues are achievable. Further delays in executing these contracts or achieving our projections could adversely affect the fair value of the reporting unit. The impact of the COVID-19 global pandemic during 2020 and 2021 negatively affected refining volumes and therefore Jefferson Terminal crude throughput but we have seen the activity starting to normalize and are expected to ramp back to pre-pandemic levels during 2022. Furthermore, we anticipate strengthening macroeconomic demand for storage and the increasing spread between Western Canadian Crude and Western Texas Intermediate as Canadian crude pipeline apportionment increases. Also, as our pipeline connections became fully operational during 2021, we remain positive for the outlook of Jefferson Terminal's earnings potential. There were no impairments of goodwill for the three and six months ended June 30, 2022 and 2021. Intangibles and amortization —Intangible assets include the value of existing customer relationships acquired in connection with the acquisition of Jefferson Terminal and Transtar. Customer relationship intangible assets are 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 is recorded as a component of Depreciation and amortization in the Combined Consolidated Statements of Operations. The weighted-average remaining amortization period for customer relationships was 151 months and 154 months as of June 30, 2022 and December 31, 2021, respectively. 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 $20.1 million and $21.5 million as of June 30, 2022 and December 31, 2021, respectively, are included in Debt, net in the Combined Consolidated Balance Sheets. Amortization expense was $0.9 million, $1.7 million, $0.6 million and $1.1 million for the three and six months ended June 30, 2022 and 2021, respectively, and is included in Interest expense in the Combined Consolidated Statements of Operations. Other Assets —Other Assets primarily consists of $10.0 million of note receivable as of both June 30, 2022 and December 31, 2021 from CarbonFree, a business that develops technologies to capture carbon dioxide from industrial emissions sources. Accounts Payable and Accrued Liabilities —Accounts payable and accrued liabilities primarily include payables relating to construction projects, interline payables to other railroads, accrued compensation and interest. Other Current Liabilities —Other current liabilities primarily include environmental liabilities of $4.1 million and $4.1 million, and insurance premium liabilities of $2.8 million and $1.7 million as of June 30, 2022 and December 31, 2021, respectively. 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 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. For interline traffic, one railroad typically invoices a customer on behalf of all railroads participating in the route directed by the customer. The invoicing railroad then pays the other railroads its portion of the total amount invoiced on a monthly basis. 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. Our 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. See Commodity Derivatives below for additional information. Other revenue 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. Payment terms for Revenues are generally short term in nature. Leasing Arrangements — At contract inception, we evaluate whether an arrangement is or contains a lease for which we are the lessee (that is, arrangements which provide us with the right to control a physical asset for a period of time). Operating lease right-of-use (“ROU”) assets and lease liabilities are recognized in Operating lease right-of-use assets, net and Operating lease liabilities in our Combined Consolidated Balance Sheets, respectively. Finance lease ROU assets are recognized in Property, plant and equipment, net and lease liabilities are recognized in Other current liabilities and Other liabilities in our Combined Consolidated Balance Sheets. All lease liabilities are measured at the present value of the unpaid lease payments, discounted using our incremental borrowing rate based on the information available at commencement date of the lease. ROU assets , for both operating and finance leases , are initially measured based on the lease liability, adjusted for prepaid rent and lease incentives. ROU assets are subsequently measured at the carrying amount of the lease liability adjusted for prepaid or accrued lease payments and lease incentives. The finance lease ROU assets are subsequently amortized using the straight-line method. Operating lease expenses are recognized on a straight-line basis over the lease term. With respect to finance leases, amortization of the ROU asset is presented separately from interest expense related to the finance lease liability. Variable lease payments, which are primarily based on usage, are recognized when the associated activity occurs. We have elected to combine lease and non-lease components for all lease contracts where we are the lessee. Additionally, for arrangements with lease terms of 12 months or less, we do not recognize ROU assets, and lease liabilities and lease payments are recognized on a straight-line basis over the lease term with variable lease payments recognized in the period in which the obligation is incurred . Concentration of Credit Risk —We are subject to concentrations of credit risk with respect to amounts due from customers. We attempt to limit our credit risk by performing ongoing credit evaluations. We earned approximately 11% and 10% of our revenue for the three and six months ended June 30, 2022 from one customer in the Jefferson Terminal segment, respectively. Additionally, for the three months ended June 30, 2022, one customer from the Ports and Terminal segment accounted for 21% of our revenue. For the three months ended June 30, 2021, we earned 33%, 21%, and 16% of our revenues from three customers in the Jefferson Terminal segment. For the six months ended June 30, 2021, we earned 26%, 16%, and 13% of our revenues from three customers in the Jefferson Terminal segment. During the three and six months ended June 30, 2022, one customer in the Transtar segment accounted for approximately 54% and 61% of total revenue, respectively. As of June 30, 2022, accounts receivable from three customers from the Jefferson Terminal, Ports and Terminals, and Transtar segments represented 59% of total accounts receivable, net. As of December 31, 2021, accounts receivable from two customers from the Jefferson Terminal and Transtar segments represented 48% 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

ACQUISITION OF TRANSTAR, LLC.

ACQUISITION OF TRANSTAR, LLC.	6 Months Ended
	Jun. 30, 2022
Business Combinations [Abstract]
ACQUISITION OF TRANSTAR, LLC.	3. ACQUISITION OF TRANSTAR, LLC On July 28, 2021, we completed the acquisition for 100% of the equity interests of Transtar, LLC (“Transtar”) from United States Steel Corporation (“USS”) for total cash consideration of $636.0 million. Transtar is comprised of five freight railroads and one switching company, of which two railroads are connected to USS’s largest production facilities. We also entered into an exclusive rail partnership with USS, under which we will provide rail service to USS for an initial term of 15 years with minimum volume commitments for the first five years. Transtar operates as a separate reportable segment. See Note 17 for additional information. The results of operations at Transtar have been included in the Combined Consolidated Statements of Operations as of the effective date of the acquisition. In connection with the acquisition, we recorded $2.4 million and $3.0 million of acquisition and transaction expense during the three and six months ended June 30, 2021, respectively. The Parent funded the transaction with bridge loans in an aggregate principal amount of $650 million. In September 2021, the Parent issued new equity and debt and repaid in full the bridge loans. In accordance with ASC 805, Business Combinations , the following fair values assigned to assets acquired and liabilities assumed are preliminary based on management’s estimates and assumptions. The significant assumptions used to estimate the fair value of the property, plant and equipment included replacement cost estimates, salvage values and market data for similar assets where available. The significant assumptions used to estimate the value of the customer relationship intangible assets included discount rate and future revenues and operating expenses. The final valuation and related allocation of the purchase price is subject to change as additional information is received and will be completed no later than 12 months after the closing date. Such adjustments are not expected to be material. The following table summarizes the preliminary allocation of the purchase price, as presented in our Combined Consolidated Balance Sheets: Fair value of assets acquired: Cash and cash equivalents $ 8,918 Accounts receivable 18,625 Operating lease right-of-use assets 12,231 Property, plant and equipment 488,233 Intangible assets 60,000 Other assets 17,052 Total assets 605,059 Fair value of liabilities assumed: Accounts payable and accrued liabilities 47,010 Operating lease liabilities 10,689 Pension and other postretirement benefits (1) 37,552 Other liabilities 8,487 Total liabilities 103,738 Goodwill (2) 134,687 Total purchase consideration $ 636,008 ________________________________________________________ (1) Included in Other liabilities in the Combined Consolidated Balance Sheets. (2) Goodwill is primarily attributable to the assembled workforce of Transtar and the synergies expected to be achieved. This goodwill is assigned to the new Transtar segment and is tax deductible for income tax purposes. The following table presents the identifiable intangible assets and their estimated useful lives: Estimated useful life in years Fair value Customer relationships 15 $ 60,000 Total $ 60,000 The following table presents the property, plant and equipment and their estimated remaining useful lives: Estimated remaining useful life in years Fair value Railcars and locomotives 1 - 40 $ 111,359 Track and track related assets 1 - 40 90,904 Land, site improvements and rights N/A 87,450 Bridges and tunnels 15 - 55 174,183 Buildings and improvements 3 - 25 12,448 Railroad equipment 2 - 15 2,725 Terminal machinery and equipment 2 - 15 3,325 Vehicles 2 - 5 3,740 Construction in progress N/A 1,928 Computer hardware and software 2 - 5 171 Total $ 488,233 The unaudited financial information in the table below summarizes the combined results of operations of FTAI Infrastructure and Transtar on a pro forma basis, as though the companies had been combined as of January 1, 2020. These pro forma results were based on estimates and assumptions which we believe are reasonable. The pro forma adjustments are primarily comprised of the following: • The allocation of the purchase price and related adjustments, including adjustments to depreciation and amortization expense related to the fair value of property, plant and equipment and intangible assets acquired; • Impacts of debt financing, including interest for debt issued and amortization of deferred financing costs; • The exclusion of acquisition-related costs incurred during the year ended December 31, 2021 and allocation of substantially all acquisition-related costs to the year ended December 31, 2020; and • Associated tax-related impacts of adjustments. The pro forma financial information is presented for informational purposes only and is not indicative of the results of operations that would have been achieved if the acquisition had taken place as of January 1, 2020. Three Months Ended June 30, 2021 Six Months Ended June 30, 2021 Total revenue $ 49,980 $ 105,158 Net loss attributable to Parent (13,362) (12,486)

LEASING EQUIPMENT, NET

LEASING EQUIPMENT, NET	6 Months Ended
	Jun. 30, 2022
Leases [Abstract]
LEASING EQUIPMENT, NET	4. LEASING EQUIPMENT, NET Leasing equipment, net is summarized as follows: June 30, 2022 December 31, 2021 Leasing equipment $ 44,179 $ 44,179 Less: Accumulated depreciation (8,720) (8,167) Leasing equipment, net $ 35,459 $ 36,012 Depreciation expense for leasing equipment is summarized as follows: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Depreciation expense for leasing equipment $ 276 $ 276 $ 552 $ 552

PROPERTY, PLANT AND EQUIPMENT,

PROPERTY, PLANT AND EQUIPMENT, NET	6 Months Ended
	Jun. 30, 2022
Property, Plant and Equipment [Abstract]
PROPERTY, PLANT AND EQUIPMENT, NET	5. PROPERTY, PLANT AND EQUIPMENT, NET Property, plant and equipment, net is summarized as follows: June 30, 2022 December 31, 2021 Land, site improvements and rights $ 168,786 $ 149,914 Construction in progress 202,020 118,081 Bridges and tunnels 174,155 174,889 Buildings and improvements 19,297 19,164 Terminal machinery and equipment 972,123 962,552 Track and track related assets 100,067 100,014 Railroad equipment 8,364 8,331 Railcars and locomotives 105,614 111,574 Computer hardware and software 10,635 5,335 Furniture and fixtures 1,745 1,745 Other 10,245 10,016 1,773,051 1,661,615 Less: Accumulated depreciation (174,069) (144,021) Property, plant and equipment, net $ 1,598,982 $ 1,517,594 During the six months ended June 30, 2022, we added property, plant and equipment of $111.4 million, which primarily consisted of assets terminal machinery, equipment placed in service or land under development at Jefferson Terminal. Depreciation expense for property, plant and equipment is summarized as follows: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Depreciation expense $ 15,158 $ 10,521 $ 30,003 $ 19,440

INVESTMENTS

INVESTMENTS	6 Months Ended
	Jun. 30, 2022
Equity Method Investments and Joint Ventures [Abstract]
INVESTMENTS	6. INVESTMENTS The following table presents the ownership interests and carrying values of our investments: Carrying Value Investment Ownership Percentage June 30, 2022 December 31, 2021 Intermodal Finance I, Ltd. Equity method 51% $ — $ — Long Ridge Terminal LLC (1) Equity method 50% — — FYX Trust Holdco LLC (2) Equity at December 31, 2021 65% and 14% as of June 30, 2022 and December 31, 2021, respectively (2) — 1,255 GM-FTAI Holdco LLC Equity method See below 72,475 52,295 Clean Planet Energy USA LLC Equity method 50% 4,430 858 $ 76,905 $ 54,408 ________________________________________________________ (1) The carrying value of $188.0 million and $17.5 million as of June 30, 2022 and December 31, 2021 is included in Other liabilities in the Combined Consolidated Balance Sheets. (2) See “Equity Investments - FYX Holdco LLC” below for additional information regarding the FYX Trust Holdco LLC acquisition in May 2022. We did not recognize any other-than-temporary impairments for the three and six months ended June 30, 2022 and 2021. The following table presents our proportionate share of equity in (losses) income: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Intermodal Finance I, Ltd. $ 44 $ 204 $ 88 $ 376 Long Ridge Terminal LLC (12,971) (7,015) (34,352) (7,640) GM-FTAI Holdco LLC (688) — (1,121) — Clean Planet Energy USA LLC (244) — (517) — Total $ (13,859) $ (6,811) $ (35,902) $ (7,264) Equity Method Investments Intermodal Finance I, Ltd. In 2012, we acquired a 51% non-controlling interest in Intermodal Finance I, Ltd. (“Intermodal”). Intermodal is governed by a board of directors, and its shareholders have voting rights through their equity interests. As such, Intermodal is not within the scope of ASC 810-20 and should be evaluated for consolidation under the voting interest model. Due to the existence of substantive participating rights of the 49% equity investor, including the joint approval of material operating and capital decisions, such as material contracts and capital expenditures consistent with ASC 810-10-25-11, we do not have unilateral rights over this investment and, therefore, we do not consolidate Intermodal but account for this investment in accordance with the equity method. We do not have a variable interest in this investment as none of the criteria of ASC 810-10-15-14 were met. As of June 30, 2022, Intermodal owns a portfolio of approximately 500 shipping containers subject to multiple operating leases. Long Ridge Terminal LLC In December 2019, Ohio River Shareholder LLC (“ORP”), a wholly owned subsidiary, contributed its equity interests in Long Ridge into Long Ridge Terminal LLC and sold a 49.9% interest (the “Long Ridge Transaction”) for $150 million in cash, plus an earn out. We no longer have a controlling interest in Long Ridge but still maintain significant influence through our retained interest and, therefore, now account for this investment in accordance with the equity method. Following the sale, we deconsolidated ORP, which held the assets of Long Ridge. The tables below present summarized financial information for Long Ridge Terminal LLC: June 30, 2022 December 31, 2021 Balance Sheet Assets Current assets: Cash and cash equivalents $ 2,470 $ 2,932 Restricted cash 25,096 32,469 Accounts receivable 24,876 17,896 Other current assets 8,089 8,857 Total current assets 60,531 62,154 Property plant & equipment 788,215 764,607 Intangible assets 4,750 4,940 Goodwill 89,390 89,390 Other assets 8,886 5,584 Total assets $ 951,772 $ 926,675 Liabilities Current liabilities: Accounts payable and accrued liabilities $ 46,338 $ 16,121 Debt, net 4,433 — Derivative liabilities 183,555 47,369 Other current liabilities 148 257 Total current liabilities 234,474 63,747 Debt, net 601,741 604,261 Derivative liabilities 488,022 291,664 Other liabilities 2,831 1,989 Total liabilities 1,327,068 961,661 Members' Equity Shareholders' equity (272,779) (1,035) Accumulated deficit (102,517) (33,951) Total members' equity (375,296) (34,986) Total liabilities and members' equity $ 951,772 $ 926,675 Three Months Ended June 30, Six Months Ended June 30, Income Statement 2022 2021 2022 2021 Total revenue $ 19,801 $ 8,849 $ 15,043 $ 17,270 Expenses Operating expenses 19,909 6,715 32,356 10,987 Depreciation and amortization 12,454 3,683 24,998 7,436 Interest expense 13,181 627 26,042 946 Total expenses 45,544 11,025 83,396 19,369 Total other expense (149) (11,825) (213) (8,826) Net loss $ (25,892) $ (14,001) $ (68,566) $ (10,925) GM-FTAI Holdco LLC In September 2021, we acquired 1% of the Class A shares and 50% of the Class B shares of GM-FTAI Holdco LLC for $52.5 million. GM-FTAI Holdco LLC owns 100% interest in Gladieux Metals Recycling (“GMR”) and Aleon Renewable Metals LLC (“Aleon”). GMR specializes in recycling spent catalyst produced in the petroleum refining industry. Aleon plans to develop a lithium-ion battery recycling business across the United States. Each planned location will collect, discharge and disassemble lithium-ion batteries to extract various metals in high-purity form for resale into the lithium-ion battery production market. Aleon and GMR are governed by separate boards of directors. Our ownership of Class A and B shares in GM-FTAI Holdco LLC provides us with 1% and 50% economic interest in GMR and Aleon, respectively. We account for our investment in GM-FTAI Holdco LLC as an equity method investment as we have significant influence through our ownership of Class A and Class B shares of GM-FTAI Holdco LLC. On June 15, 2022, we exchanged our Class B shares which gave us economic interest in Aleon for an additional 20% interest in Class A shares. In addition, we also terminated our credit agreements with GMR and Aleon in exchange for an approximate 8.5% of additional interest in Class A shares. At June 30, 2022 as a result of these exchange transactions, we own approximately 27% of GM-FTAI Holdco LLC, which owns 100% of both GMR and Aleon. Clean Planet Energy USA LLC In November 2021, we acquired 50% of the Class A shares of Clean Planet Energy USA LLC (“CPE”) with an initial investment of $1.0 million. CPE intends on building waste plastic-to-fuel plants in the United States. The plants will convert various grades of non-recyclable waste plastic to renewable diesel in the form of jet fuel, diesel, naphtha, and low sulfur fuel oil. We account for our investment in CPE as an equity method investment as we have significant influence through our ownership of Class A shares. Equity Investments FYX Trust Holdco LLC In July 2020, we invested $1.3 million for a 14% interest in an operating company that provides roadside assistance services for the intermodal and over-the-road trucking industries. FYX Trust Holdco LLC (“FYX”) has developed a mobile and web-based application that connects fleet managers, owner-operators, and drivers with repair vendors to efficiently and reliably quote, dispatch, monitor, and bill roadside repair services.

INTANGIBLE ASSETS, NET

INTANGIBLE ASSETS, NET	6 Months Ended
	Jun. 30, 2022
Intangible Assets and Liabilities Disclosure [Abstract]
INTANGIBLE ASSETS, NET	7. INTANGIBLE ASSETS, NET Intangible assets, net are summarized as follows: June 30, 2022 Jefferson Terminal Transtar Total Intangible assets Customer relationships $ 35,513 $ 60,000 $ 95,513 Less: Accumulated amortization (27,814) (3,722) (31,536) Intangible assets, net $ 7,699 $ 56,278 $ 63,977 December 31, 2021 Jefferson Terminal Transtar Total Intangible assets Customer relationships $ 35,513 $ 60,000 $ 95,513 Less: Accumulated amortization (26,038) (1,738) (27,776) Intangible assets, net $ 9,475 $ 58,262 $ 67,737 Amortization of intangible assets is as follows: Classification in Combined Consolidated Statements of Operations Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Customer relationships Depreciation and amortization $ 1,885 $ 889 $ 3,760 $ 1,777 As of June 30, 2022, estimated net annual amortization of intangibles is as follows: Remainder of 2022 $ 3,776 2023 7,551 2024 6,131 2025 4,000 2026 4,000 Thereafter 38,519 Total $ 63,977

DEBT, NET

DEBT, NET	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
DEBT, NET	8. DEBT, NET Our debt, net is summarized as follows: June 30, 2022 December 31, 2021 Outstanding Borrowings Stated Interest Rate Maturity Date Outstanding Borrowings Loans payable DRP Revolver (1) $ 25,000 (i) Base Rate + 2.75%; or (ii) Base Rate + 3.75% (Eurodollar) 11/5/24 $ 25,000 EB-5 Loan Agreement 35,550 5.75% 1/25/26 26,100 Total loans payable 60,550 51,100 Bonds payable Series 2020 Bonds 263,980 (i) Tax Exempt Series 2020A Bonds: 3.625% (ii) Tax Exempt Series 2020A Bonds: 4.00% (iii) Taxable Series 2020B Bonds: 6.00% (i) 1/1/35 (ii) 1/1/50 (iii) 1/1/25 263,980 Series 2021 Bonds 425,000 (i) Series 2021A Bonds: 1.875% to 3.000% (ii) Series 2021B Bonds: 4.100% (i) 1/1/26 to 1/1/50 (ii) 1/1/28 425,000 Total bonds payable 688,980 688,980 Debt 749,530 740,080 Less: Debt issuance costs (20,120) (21,456) Total debt, net $ 729,410 $ 718,624 Total debt due within one year $ — $ — ________________________________________________________ (1) Requires a quarterly commitment fee at a rate of 1.00% on the average daily unused portion, as well as customary letter of credit fees and agency fees. We were in compliance with all debt covenants as of June 30, 2022.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	9. FAIR VALUE MEASUREMENTS Fair value measurements and disclosures require the use of valuation techniques to measure fair value that maximize the use of observable inputs and minimize use of unobservable inputs. These inputs are prioritized as follows: • Level 1: Observable inputs such as quoted prices in active markets for identical assets or liabilities. • Level 2: Inputs other than quoted prices included within Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities or market corroborated inputs. • Level 3: Unobservable inputs for which there is little or no market data and which require us to develop our own assumptions about how market participants price the asset or liability. The valuation techniques that may be used to measure fair value are as follows: • Market approach—Uses prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities. • Income approach—Uses valuation techniques to convert future amounts to a single present amount based on current market expectations about those future amounts. • Cost approach—Based on the amount that currently would be required to replace the service capacity of an asset (replacement cost). The following tables set forth our financial assets measured at fair value on a recurring basis as of June 30, 2022 and December 31, 2021, by level within the fair value hierarchy. Assets measured at fair value are classified in their entirety based on the lowest level of input that is significant to their fair value measurement. Fair Value as of Fair Value Measurements Using Fair Value Hierarchy as of June 30, 2022 June 30, 2022 Total Level 1 Level 2 Level 3 Valuation Technique Assets Cash and cash equivalents $ 68,469 $ 68,469 $ — $ — Market Restricted cash 177,951 177,951 — — Market Derivative assets 748 — 748 — Income Total assets $ 247,168 $ 246,420 $ 748 $ — Fair Value as of Fair Value Measurements Using Fair Value Hierarchy as of December 31, 2021 December 31, 2021 Total Level 1 Level 2 Level 3 Valuation Technique Assets Cash and cash equivalents $ 49,872 $ 49,872 $ — $ — Market Restricted cash 251,983 251,983 — — Market Derivative assets 2,220 — 2,220 — Income Total $ 304,075 $ 301,855 $ 2,220 $ — 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. The fair value of our commodity derivative assets are classified as Level 2 measurements are estimated by applying the income and market approaches, based on quotes of observable market transactions, and adjusted for estimated differential factors based on quality and delivery locations. 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, 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 value of our bonds and notes payable reported as debt, net in the Combined Consolidated Balance Sheets are presented in the table below: June 30, 2022 December 31, 2021 Series 2020 A Bonds (1) $ 143,857 $ 189,773 Series 2020 B Bonds (1) 80,014 81,637 Series 2021 A Bonds (1) 161,095 222,023 Series 2021 B Bonds (1) 177,616 194,278 ________________________________________________________ (1) Fair value is based upon market prices for similar municipal securities. The fair value of all other items reported as debt, net in the Combined 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.

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS	6 Months Ended
	Jun. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE FINANCIAL INSTRUMENTS	10. DERIVATIVE FINANCIAL INSTRUMENTS Commodity Derivatives Depending on market conditions, Repauno enters into forward purchase and sales contracts for butane. These derivatives are short-term in nature and are used for trading purposes and classified as Level 2 derivatives. The following table presents information related to our butane derivative contracts: June 30, 2022 December 31, 2021 Notional Amount (BBL in thousands) 1,432 244 Fair Value of Assets (1) $ 748 $ 2,220 Remaining term 1 to 9 months 1 to 3 months ________________________________________________________ (1) Included in Other assets in the Combined Consolidated Balance Sheets.

REVENUES

REVENUES	6 Months Ended
	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
REVENUES	11. 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 606, Revenue from Contracts with Customers , unless otherwise noted. We have elected to exclude sales and other similar taxes from revenues. Three Months Ended June 30, 2022 Jefferson Terminal Ports and Terminals Transtar Corporate and Other Total Lease income $ 314 $ — $ 553 $ — $ 867 Rail revenues — — 37,507 — 37,507 Terminal services revenues 14,214 13 — — 14,227 Other revenue — 1,627 — 11,640 13,267 Total revenues $ 14,528 $ 1,640 $ 38,060 $ 11,640 $ 65,868 Three Months Ended June 30, 2021 Jefferson Terminal Ports and Terminals Transtar Corporate and Other Total Lease income $ 432 $ — $ — $ — $ 432 Terminal services revenues 11,095 25 — — 11,120 Other revenue — 2,318 — 1,474 3,792 Total revenues $ 11,527 $ 2,343 $ — $ 1,474 $ 15,344 Six Months Ended June 30, 2022 Jefferson Terminal Ports and Terminals Transtar Corporate and Other Total Lease income $ 666 $ — $ 1,041 $ — $ 1,707 Rail revenues — 86 71,089 — 71,175 Terminal services revenues 26,908 103 — — 27,011 Other revenue — (535) — 12,658 12,123 Total revenues $ 27,574 $ (346) $ 72,130 $ 12,658 $ 112,016 Six Months Ended June 30, 2021 Jefferson Terminal Ports and Terminals Transtar Corporate and Other Total Lease income $ 862 $ — $ — $ — $ 862 Terminal services revenues 21,384 157 — — 21,541 Other revenue — 10,283 — 3,200 13,483 Total revenues $ 22,246 $ 10,440 $ — $ 3,200 $ 35,886 Presented below are the contracted minimum future annual revenues to be received under existing operating leases across several market sectors as of June 30, 2022: Operating Leases Remainder of 2022 $ 6,173 2023 4,168 2024 459 2025 459 2026 421 Thereafter — Total $ 11,680

LEASES

LEASES	6 Months Ended
	Jun. 30, 2022
Leases [Abstract]
LEASES	12. LEASES We have commitments as lessees under lease arrangements primarily for real estate, equipment and vehicles. Our leases have remaining lease terms ranging from approximately one month to 40 years. The following table presents lease related costs: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Finance leases Amortization of right-of-use assets $ 222 $ — $ 431 $ — Interest on lease liabilities 14 — 29 — Finance lease expense 236 — 460 — Operating lease expense 1,627 1,257 3,420 2,397 Short-term lease expense 721 328 1,112 375 Variable lease expense 717 426 1,582 637 Total lease expense $ 3,301 $ 2,011 $ 6,574 $ 3,409 The following table presents information related to our operating leases as of and for the six months ended June 30, 2022: Right-of-use assets, net $ 70,148 Lease liabilities 69,139 Weighted average remaining lease term 34.8 years Weighted average incremental borrowing rate 5.7 % Cash paid for amounts included in the measurement of operating lease liabilities $ 3,505 The following table presents future minimum lease payments under non-cancellable operating leases as of June 30, 2022: Remainder of 2022 $ 3,544 2023 6,747 2024 6,176 2025 5,854 2026 5,256 Thereafter 142,878 Total undiscounted lease payments 170,455 Less: Imputed interest 101,316 Total lease liabilities $ 69,139

EQUITY-BASED COMPENSATION

EQUITY-BASED COMPENSATION	6 Months Ended
	Jun. 30, 2022
Share-based Payment Arrangement [Abstract]
EQUITY-BASED COMPENSATION	13. EQUITY-BASED COMPENSATION Some of our subsidiaries provide an equity-based incentive plan for eligible employees. The following table presents our stock-based compensation expense recognized in the Combined Consolidated Statements of Operations: Three Months Ended June 30, Six Months Ended June 30, Remaining Expense To Be Recognized, If All Vesting Conditions Are Met Weighted Average Remaining Contractual Term (in years) 2022 2021 2022 2021 Restricted Shares $ 538 $ 1,270 $ 1,076 $ 2,111 $ 2,655 0.8 years Common Units 418 169 589 442 4,227 1.2 years Total $ 956 $ 1,439 $ 1,665 $ 2,553 $ 6,882 Common Units During the six months ended June 30, 2022, we issued common units of our subsidiary that had a grant date fair value of $1.9 million and vest over three years. These awards are subject to continued employment, and the compensation expense is recognized ratably over the vesting periods. The fair value of these awards was based on the fair value of the operating subsidiary on the grant date, which was estimated using a discounted cash flow analysis that requires the application of discount factors and terminal multiples to projected cash flows. Discount factors and terminal multiples were based on market-based inputs and transactions, as available at the measurement date. Additionally, during the six months ended June 30, 2022, we issued separate common units of our subsidiary that had a grant date fair value of $1.9 million and vest over three years. These awards are subject to performance targets based on EBITDA as defined in the agreements, and the total expected compensation expense is recognized ratably over the vesting periods if it is probable that the performance conditions will be met. The fair value of these awards was based on the fair value of the operating subsidiary on the grant date, which was estimated using a discounted cash flow analysis that requires the application of discount factors and terminal multiples to projected cash flows. Discount factors and terminal multiples were based on market-based inputs and transactions, as available at the measurement date.

RETIREMENT BENEFIT PLAN

RETIREMENT BENEFIT PLAN	6 Months Ended
	Jun. 30, 2022
Retirement Benefits [Abstract]
RETIREMENT BENEFIT PLAN	14. RETIREMENT BENEFIT PLANS In connection with the acquisition of Transtar, we established a defined benefit pension plan as well as a postretirement benefit plan to assume certain retirement benefit obligations related to eligible Transtar employees. Defined Benefit Pensions Our partially funded pension plan is a tax qualified plan. Our pension plan covers certain eligible Transtar employees. These plans are noncontributory. Pension benefits earned are generally based on years of service and compensation during active employment. Postretirement Benefits Our unfunded postretirement plan provides healthcare and life insurance benefits for eligible retirees and dependents of Transtar. Depending on retirement date and employee classification, certain healthcare plans contain contribution and cost-sharing features such as deductibles and co-insurance. The remaining healthcare and life insurance plans are non-contributory. The following table summarizes our retirement benefit plan costs for the three and six months ended June 30, 2022. Service costs and interest costs are recorded in Operating expenses and Other (expense) income, respectively, in the Combined Consolidated Statements of Operations. Three Months Ended June 30, 2022 Six Months Ended June 30, 2022 Pension Benefits Postretirement Benefits Pension Benefits Postretirement Benefits Service costs $ 438 $ 538 $ 876 $ 1,075 Interest costs 74 225 148 450 Total $ 512 $ 763 $ 1,024 $ 1,525

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jun. 30, 2022
Income Tax Disclosure [Abstract]
INCOME TAXES	15. INCOME TAXES The current and deferred components of the income tax benefit included in the Combined Consolidated Statements of Operations are as follows: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Current: Federal $ 62 $ 1 $ 62 $ 1 State and local 71 60 142 116 Foreign — — — — Total current provision 133 61 204 117 Deferred: Federal 1,549 (774) 2,607 (1,236) State and local 265 — 720 — Foreign — (2) — (2) Total deferred provision 1,814 (776) 3,327 (1,238) Provision for income taxes $ 1,947 $ (715) $ 3,531 $ (1,121) Prior to the spin-off, we were taxed as a disregarded entity for U.S. federal income tax purposes and our taxable income or loss generated was the responsibility of our Parent, except as related to certain wholly owned corporate subsidiaries of the infrastructure business. Taxable income or loss generated by us following the spin-off and by our corporate subsidiaries is subject to U.S. federal, state and foreign corporate income tax in locations where they conduct business. Our effective tax rate differs from the U.S. federal tax rate of 21% primarily due to valuation allowances against a significant portion of the deferred tax assets of our corporate subsidiaries.

MANAGEMENT AGREEMENT AND AFFILI

MANAGEMENT AGREEMENT AND AFFILIATE TRANSACTIONS	6 Months Ended
	Jun. 30, 2022
Related Party Transactions [Abstract]
MANAGEMENT AGREEMENT AND AFFILIATE TRANSACTIONS	16. MANAGEMENT AGREEMENT AND AFFILIATE TRANSACTIONS The Parent, and FTAI Infrastructure as a part of the Parent as of June 30, 2022, are externally managed by the Manager. 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 the Parent’s initial public offering (“IPO”), the Parent and the Manager entered into the Management Agreement. Additionally, the Parent has entered into certain incentive allocation arrangements with Fortress Worldwide Transportation and Infrastructure Master GP LLC (the “Master GP”). The Manager is entitled to a management fee, incentive allocations (comprised of Income Incentive Allocation and Capital Gains Incentive Allocation described below) and reimbursement of certain expenses. The management fee is determined by taking the average value of total equity (excluding non-controlling interests) of the Parent 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. 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 the Parent’s 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 the independent directors. Pre-incentive allocation net income does not include any Income Incentive Allocation or Capital Gains Incentive Allocation (described below) paid to the Master GP during the relevant quarter. The Master GP is entitled to 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 the Parent’s 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 of the Parent 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 of the Parent, 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 the Parent’s pro rata share of cumulative realized gains from the date of the Parent’s IPO through the end of the applicable calendar year, net of the Parent’s pro rata share of cumulative realized or unrealized losses, the cumulative non-cash portion of equity-based compensation expenses and all realized gains upon which prior performance-based Capital Gains Incentive Allocation payments were made to the Master GP. A portion of the management fee, income incentive allocation, and capital gains incentive allocation that are attributable to the operations of FTAI Infrastructure is recorded in the Management fees and incentive allocation to affiliate on the Combined Consolidated Statement of Operations. These amounts are allocated on the following basis: Management fee —Management fee is allocated to FTAI Infrastructure by applying the calculation methodology described above to the equity of FTAI Infrastructure included in these combined consolidated financial statements. Income Incentive Allocation and Capital Gains Incentive Allocation —The Income Incentive Allocation and Capital Gains Incentive Allocation are allocated to FTAI Infrastructure by applying the allocation calculation methodology described above to FTAI Infrastructure’s financial results in each respective period. The following table summarizes the management fees, income incentive allocation and capital gains incentive allocation included in these Combined Consolidated Financial Statements: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Management fees $ 3,065 $ 3,817 $ 7,226 $ 7,415 Income incentive allocation — — — — Capital gains incentive allocation — — — — Total $ 3,065 $ 3,817 $ 7,226 $ 7,415 The Parent pays all of its operating expenses, except those specifically required to be borne by the Manager under the Management Agreement. The expenses required to be paid by the Parent include, but are not limited to, issuance and transaction costs incident to the acquisition, disposition and financing of its assets, legal and auditing fees and expenses, the compensation and expenses of the Parent’s independent directors, the costs associated with the establishment and maintenance of any credit facilities and other indebtedness of the Parent (including commitment fees, legal fees, closing costs, etc.), expenses associated with other securities offerings of the Parent, costs and expenses incurred in contracting with third parties (including affiliates of the Manager), the costs of printing and mailing proxies and reports to the Parent’s shareholders, costs incurred by the Manager or its affiliates for travel on the Parent’s behalf, costs associated with any computer software or hardware that is used by the Parent, costs to obtain liability insurance to indemnify the Parent’s directors and officers and the compensation and expenses of the Parent’s transfer agent. The Parent 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. A portion of the Parent’s reimbursement to the Manager is allocated to FTAI Infrastructure based on an estimate of time incurred by certain of the Manager’s employees on activities related to our operations. A portion of these reimbursable expenses that the Parent paid to the Manager and are attributable to FTAI Infrastructure are included in the Combined Consolidated Financial Statements as follows: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Classification in the Combined Consolidated Statements of Operations: General and administrative $ 1,098 $ 785 $ 2,228 $ 1,915 Acquisition and transaction expenses 438 2,626 850 3,038 Total $ 1,536 $ 3,411 $ 3,078 $ 4,953 If the Parent terminates the Management Agreement, the Parent will generally be required to pay the Manager a termination fee. The termination fee is equal to the amount of the management fee during the 12 months immediately preceding the date of the termination. In addition, an Incentive Allocation Fair Value Amount will be distributable to the Master GP if the Master GP is removed due to the termination of the Management Agreement in certain specified circumstances. The Incentive Allocation Fair Value Amount is an amount equal to the Income Incentive Allocation and the Capital Gains Incentive Allocation that would be paid to the Master GP if the Parent's 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 the Parent’s common shares or other equity securities (including securities issued as consideration in an acquisition), the Parent grants the Manager options to purchase common shares in an amount equal to 10% of the number of common shares being sold in the offering (or if the issuance relates to equity securities other than our common shares, options to purchase a number of common shares equal to 10% of the gross capital raised in the equity issuance divided by the fair market value of a common share as of the date of issuance), with an exercise price equal to the offering price per share paid by the public or other ultimate purchaser or attributed to such securities in connection with an acquisition (or the fair market value of a common share as of the date of the equity issuance if it relates to equity securities other than our common shares). Any ultimate purchaser of common shares for which such options are granted may be an affiliate of Fortress. The following table summarizes amounts due to the Manager, which are included within Accounts payable and accrued liabilities in the Combined Consolidated Balance Sheets: June 30, 2022 December 31, 2021 Accrued management fees $ 929 $ 1,495 Other payables 510 1,075 As of June 30, 2022 and December 31, 2021, there were no receivables from the Manager. Other Affiliate Transactions As of June 30, 2022 and December 31, 2021, affiliates of our Manager and their related parties collectively own an approximately 20% interest in Jefferson Terminal which has been accounted for as a component of non-controlling interest in consolidated subsidiaries in the Combined Consolidated Financial Statements. The carrying amount of this non-controlling interest at June 30, 2022 and December 31, 2021 was $(24.3) million and $(9.1) million, respectively. The following table presents the amount of this non-controlling interest share of net loss: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Non-controlling interest share of net loss $ (8,135) $ (6,538) $ (15,271) $ (11,554) In July 2020, we purchased a 14% interest in FYX from an affiliate of our Manager, which retained a non-controlling interest in FYX subsequent to the transaction. In May 2022, we purchased an additional 51% interest in FYX from an unrelated third party for a purchase price of $4.6 million, which resulted in our ownership of a majority stake in the entity. From the purchase date in May 2022 through and as of June 30, 2022, FYX is presented on a consolidated basis in the Combined Consolidated Statement of Operations and the Combined Consolidated Balance Sheet. Additionally, other investors in FYX are also affiliates of our Manager.

SEGMENT INFORMATION

SEGMENT INFORMATION	6 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
SEGMENT INFORMATION	17. SEGMENT INFORMATION Our reportable segments represent strategic business units comprised of investments in different types of transportation and infrastructure assets. We have three reportable segments which operate in infrastructure businesses across several market sectors, all in North America. Our reportable segments are (i) Jefferson Terminal, (ii) Ports and Terminals and (iii) Transtar. The Jefferson Terminal segment consists of a multi-modal crude oil and refined products terminal and other related assets. The Ports and Terminals segment consists of Repauno, which is a 1,630-acre deep-water port located along the Delaware River with an underground storage cavern, a new multipurpose dock, a rail-to-ship transloading system and multiple industrial development opportunities, and an equity method investment in Long Ridge, which is a 1,660-acre multi-modal port located along the Ohio River with rail, dock, and multiple industrial development opportunities, including a power plant in operation. The Transtar segment is comprised of five freight railroads and one switching company that provide rail service to certain manufacturing and production facilities. Corporate and Other primarily consists of corporate general and administrative expenses and management fees, all allocated from the Parent. Additionally, Corporate and Other includes (i) Containers, (ii) investments in Aleon, GMR, and CPE, (iii) a note receivable from CarbonFree (iv) KRS, and (v) an operating company that provides roadside assistance services for the intermodal and over-the-road trucking industries. The accounting policies of the segments are the same as those described in the summary of significant accounting policies. The chief operating decision maker evaluates investment performance for each reportable segment primarily based on Adjusted EBITDA. Adjusted EBITDA is defined as net income (loss) attributable to Parent 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, 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 Parent, 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 Parent as determined in accordance with U.S. GAAP. The following tables set forth certain information for each reportable segment: I. For the Three Months Ended June 30, 2022 Three Months Ended June 30, 2022 Jefferson Terminal Ports and Terminals Transtar Corporate and Other Total Revenues Total revenues $ 14,528 $ 1,640 $ 38,060 $ 11,640 $ 65,868 Expenses Operating expenses 14,261 4,283 19,197 11,488 49,229 General and administrative — — — 2,498 2,498 Acquisition and transaction expenses — — 149 8,723 8,872 Management fees and incentive allocation to affiliate — — — 3,065 3,065 Depreciation and amortization 9,739 2,376 4,696 508 17,319 Total expenses 24,000 6,659 24,042 26,282 80,983 Other income (expense) Equity in losses of unconsolidated entities — (12,971) — (888) (13,859) Interest expense (6,127) (341) (15) (3) (6,486) Other (expense) income (1,291) — (305) 1,043 (553) Total other (expense) income (7,418) (13,312) (320) 152 (20,898) (Loss) income before income taxes (16,890) (18,331) 13,698 (14,490) (36,013) Provision for income taxes 68 — 1,818 61 1,947 Net (loss) income (16,958) (18,331) 11,880 (14,551) (37,960) Less: Net loss attributable to non-controlling interests in consolidated subsidiaries (8,135) (320) — (25) (8,480) Net (loss) income attributable to Parent $ (8,823) $ (18,011) $ 11,880 $ (14,526) $ (29,480) The following table sets forth a reconciliation of Adjusted EBITDA to net loss attributable to Parent: Three Months Ended June 30, 2022 Jefferson Terminal Ports and Terminals Transtar Corporate and Other Total Adjusted EBITDA $ 4,158 $ 3,675 $ 18,826 $ (5,105) $ 21,554 Add: Non-controlling share of Adjusted EBITDA 3,716 Add: Equity in losses of unconsolidated entities (13,859) Less: Pro-rata share of Adjusted EBITDA from unconsolidated entities (6,825) Less: Interest expense (6,486) Less: Depreciation and amortization expense (17,319) Less: Incentive allocations — Less: Asset impairment charges — Less: Changes in fair value of non-hedge derivative instruments 1,514 Less: Losses on the modification or extinguishment of debt and capital lease obligations — Less: Acquisition and transaction expenses (8,872) Less: Equity-based compensation expense (956) Less: Provision for income taxes (1,947) Net loss attributable to Parent $ (29,480) II. For the Six Months Ended June 30, 2022 Six Months Ended June 30, 2022 Jefferson Terminal Ports and Terminals Transtar Corporate and Other Total Revenues Total revenues $ 27,574 $ (346) $ 72,130 $ 12,658 $ 112,016 Expenses Operating expenses 27,384 8,166 38,260 13,487 87,297 General and administrative — — — 4,928 4,928 Acquisition and transaction expenses — — 355 12,753 13,108 Management fees and incentive allocation to affiliate — — — 7,226 7,226 Depreciation and amortization 19,439 4,745 9,455 676 34,315 Total expenses 46,823 12,911 48,070 39,070 146,874 Other income (expense) Equity in losses of unconsolidated entities — (34,352) — (1,550) (35,902) Interest expense (12,237) (628) (75) (5) (12,945) Other (expense) income (1,390) — (665) 1,043 (1,012) Total other expense (13,627) (34,980) (740) (512) (49,859) (Loss) income before income taxes (32,876) (48,237) 23,320 (26,924) (84,717) Provision for income taxes 137 — 3,333 61 3,531 Net (loss) income (33,013) (48,237) 19,987 (26,985) (88,248) Less: Net loss attributable to non-controlling interests in consolidated subsidiaries (15,271) (650) — (25) (15,946) Net (loss) income attributable to Parent $ (17,742) $ (47,587) $ 19,987 $ (26,960) $ (72,302) The following table sets forth a reconciliation of Adjusted EBITDA to net loss attributable to Parent: Six Months Ended June 30, 2022 Jefferson Terminal Ports and Terminals Transtar Corporate and Other Total Adjusted EBITDA $ 7,964 $ 5,044 $ 33,473 $ (13,365) $ 33,116 Add: Non-controlling share of Adjusted EBITDA 7,532 Add: Equity in losses of unconsolidated entities (35,902) Less: Pro-rata share of Adjusted EBITDA from unconsolidated entities (12,232) Less: Interest expense (12,945) Less: Depreciation and amortization expense (34,315) Less: Incentive allocations — Less: Asset impairment charges — Less: Changes in fair value of non-hedge derivative instruments 748 Less: Losses on the modification or extinguishment of debt and capital lease obligations — Less: Acquisition and transaction expenses (13,108) Less: Equity-based compensation expense (1,665) Less: Benefit from income taxes (3,531) Net loss attributable to Parent $ (72,302) III. For the Three Months Ended June 30, 2021 Three Months Ended June 30, 2021 Jefferson Terminal Ports and Terminals Transtar Corporate and Other Total Revenues Total revenues $ 11,527 $ 2,343 $ — $ 1,474 $ 15,344 Expenses Operating expenses 11,777 3,828 — 1,704 17,309 General and administrative — — — 1,631 1,631 Acquisition and transaction expenses — — — 2,560 2,560 Management fees and incentive allocation to affiliate — — — 3,817 3,817 Depreciation and amortization 9,315 2,216 — 155 11,686 Total expenses 21,092 6,044 — 9,867 37,003 Other income Equity in (losses) earnings of unconsolidated entities — (9,183) — 2,372 (6,811) Gain on sale of assets, net — 16 — — 16 Interest expense (3,213) (295) — (21) (3,529) Other (expense) income (886) 91 — 3 (792) Total other (expense) income (4,099) (9,371) — 2,354 (11,116) Loss before income taxes (13,664) (13,072) — (6,039) (32,775) Provision for (benefit from) income taxes 59 (774) — — (715) Net loss (13,723) (12,298) — (6,039) (32,060) Less: Net loss attributable to non-controlling interests in consolidated subsidiaries (6,538) (87) — — (6,625) Net loss attributable to Parent $ (7,185) $ (12,211) $ — $ (6,039) $ (25,435) The following table sets forth a reconciliation of Adjusted EBITDA to net loss attributable to Parent: Three Months Ended June 30, 2021 Jefferson Terminal Ports and Terminals Transtar Corporate and Other Total Adjusted EBITDA $ 3,555 $ 375 $ — $ (5,696) $ (1,766) Add: Non-controlling share of Adjusted EBITDA 3,257 Add: Equity in income of unconsolidated entities (6,811) Less: Pro-rata share of Adjusted EBITDA from unconsolidated entities (225) Less: Interest expense (3,529) Less: Depreciation and amortization expense (11,686) Less: Incentive allocations — Less: Asset impairment charges — Less: Changes in fair value of non-hedge derivative instruments (1,391) Less: Losses on the modification or extinguishment of debt and capital lease obligations — Less: Acquisition and transaction expenses (2,560) Less: Equity-based compensation expense (1,439) Less: Provision for income taxes 715 Net loss attributable to Parent $ (25,435) IV. For the Six Months Ended June 30, 2021 Six Months Ended June 30, 2021 Jefferson Terminal Ports and Terminals Transtar Corporate and Other Total Revenues Total revenues $ 22,246 $ 10,439 $ — $ 3,201 $ 35,886 Expenses Operating expenses 23,498 6,930 — 3,690 34,118 General and administrative — — — 3,665 3,665 Acquisition and transaction expenses — — — 3,518 3,518 Management fees and incentive allocation to affiliate — — — 7,415 7,415 Depreciation and amortization 17,033 4,427 — 309 21,769 Total expenses 40,531 11,357 — 18,597 70,485 Other income (expense) Equity in losses (earnings) of unconsolidated entities — (7,641) — 377 (7,264) Gain on sale of assets, net — 16 — — 16 Interest expense (4,416) (574) — (22) (5,012) Other (expense) income (705) 91 — 3 (611) Total other (expense) income (5,121) (8,108) — 358 (12,871) Loss before income taxes (23,406) (9,026) — (15,038) (47,470) Provision for (benefit from) income taxes 115 (1,236) — — (1,121) Net loss (23,521) (7,790) — (15,038) (46,349) Less: Net loss attributable to non-controlling interests in consolidated subsidiaries (11,554) (32) — — (11,586) Net loss attributable to Parent $ (11,967) $ (7,758) $ — $ (15,038) $ (34,763) The following table sets forth a reconciliation of Adjusted EBITDA to net loss attributable to Parent: Six Months Ended June 30, 2021 Jefferson Terminal Ports and Terminals Transtar Corporate and Other Total Adjusted EBITDA $ 6,383 $ 507 $ — $ (11,532) $ (4,642) Add: Non-controlling share of Adjusted EBITDA 5,286 Add: Equity in losses of unconsolidated entities (7,264) Less: Pro-rata share of Adjusted EBITDA from unconsolidated entities (2,985) Less: Interest expense (5,012) Less: Depreciation and amortization expense (21,769) Less: Incentive allocations — Less: Asset impairment charges — Less: Changes in fair value of non-hedge derivative instruments 6,573 Less: Losses on the modification or extinguishment of debt and capital lease obligations — Less: Acquisition and transaction expenses (3,518) Less: Equity-based compensation expense (2,553) Less: Benefit from income taxes 1,121 Net loss attributable to Parent $ (34,763) V. Balance Sheet The following tables sets forth the summarized balance sheet. All property, plant and equipment and leasing equipment are located in North America. June 30, 2022 Jefferson Terminal Ports and Terminals Transtar Corporate and Other Total Current assets $ 236,128 $ 49,734 67,884 $ 73,845 $ 427,591 Non-current assets 1,068,387 282,109 680,326 $ 101,815 2,132,637 Total assets 1,304,515 331,843 748,210 175,660 2,560,228 Debt, net 704,410 25,000 — — 729,410 Current liabilities 72,231 20,826 48,503 33,331 174,891 Non-current liabilities 763,481 216,065 59,758 220 1,039,524 Total liabilities 835,712 236,891 108,261 33,551 1,214,415 Non-controlling interests in equity of consolidated subsidiaries (16,799) 1,559 268 4,216 (10,756) Total equity 468,803 94,952 639,949 142,109 1,345,813 Total liabilities and equity $ 1,304,515 $ 331,843 $ 748,210 $ 175,660 $ 2,560,228 December 31, 2021 Jefferson Terminal Ports and Terminals Transtar Corporate and Other Total Current assets $ 296,753 $ 35,300 $ 71,946 $ 8,985 $ 412,984 Non-current assets 987,678 281,599 690,492 69,548 2,029,317 Total assets 1,284,431 316,899 762,438 78,533 2,442,301 Debt, net 693,624 25,000 — — 718,624 Current liabilities 67,612 5,155 55,832 868 129,467 Non-current liabilities 753,113 45,496 52,100 79 850,788 Total liabilities 820,725 50,651 107,932 947 980,255 Non-controlling interests in equity of consolidated subsidiaries (2,604) 1,888 — 625 (91) Total equity 463,706 266,248 654,506 77,586 1,462,046 Total liabilities and equity $ 1,284,431 $ 316,899 $ 762,438 $ 78,533 $ 2,442,301

EARNINGS PER SHARE AND EQUITY

EARNINGS PER SHARE AND EQUITY	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
EARNINGS PER SHARE AND EQUITY	3. EARNINGS PER SHARE On August 1, 2022, FTAI distributed one share of FTAI Infrastructure Inc. common stock for each FTAI common share held by FTAI shareholders of record as of the record date. As of that date, 99,387,467 shares were distributed. This number of shares is utilized for the calculation of basic and diluted loss per share for all periods presented prior to the spin-off. For the three and six months ended June 30, 2022, these shares are treated as issued and outstanding for purposes of calculating historical earnings per share. For periods prior to the spin-off, it is assumed that there are no dilutive equity instruments as there were no equity awards of the Company outstanding prior to the spin-off. 18. EARNINGS PER SHARE AND EQUITY On August 1, 2022, FTAI distributed one share of FTAI Infrastructure common stock for each FTAI common share held by FTAI shareholders of record as of the record date. As of that date, 99,387,467 shares were distributed. This number of shares is utilized for the calculation of basic and diluted loss per share for all periods presented prior to the spin-off. For the three and six months ended June 30, 2022 and 2021, these shares are treated as issued and outstanding for purposes of calculating historical earnings per share. For periods prior to the spin-off, it is assumed that there are no dilutive equity instruments as there were no equity awards of FTAI Infrastructure outstanding prior to the spin-off.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	4. COMMITMENTS AND CONTINGENCIES From time to time, the Company may be subject to various legal proceedings and claims that arise in the ordinary course of business. As of June 30, 2022, the Company is not subject to any material litigation nor is the Company aware of any material litigation threatened against it. 19. COMMITMENTS AND CONTINGENCIES In the normal course of business we, and our subsidiaries, may be involved in various claims, legal proceedings, or may enter into contracts that contain a variety of representations and warranties and which provide general indemnifications. We have entered into an arrangement with our non-controlling interest holder of Repauno, as part of the initial acquisition, whereby the non-controlling interest holder may receive additional payments contingent upon the achievement of c ertain conditions, not to exceed $15.0 million. We will account for such amounts when and if such conditions are achieved. The contingency related to $5.0 million of the total $15.0 million was resolved during the year ended December 31, 2021. The $5.0 million payment was included in the cost of the asset acquisition.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Jun. 30, 2022
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	5. SUBSEQUENT EVENTS Subscription Agreements On June 30, 2022, the Company and Transtar, LLC, a subsidiary of the Parent, entered into subscription agreements with entities affiliated with Ares Management LLC (collectively the “Subscriber”). Pursuant to the subscription agreement, the Company agreed to sell to the Subscriber (i) 300,000 shares of newly-created Series A Senior Preferred Stock with a par value of $0.01 per share, (ii) warrants representing the right to purchase 3,342,566 shares of common stock of the Company, with a par value of $0.01 per share, at an exercise price of $10.00 per share (as adjusted in accordance with the agreement governing the warrants), and (iii) warrants representing the right to purchase 3,342,566 shares of common stock at an exercise price of $0.01 per share, for an aggregate purchase price of $300.0 million, net of a discount of $9.0 million. Net proceeds were distributed to the Parent. These agreements were not effective until the spin-off, described below, was complete. Senior Secured Notes Offering On July 7, 2022, the Company closed its private offering of $450.0 million aggregate principal amount of 10.500% senior secured notes due 2027, at an issue price equal to 94.585% of principal. On July 25, 2022, the Company closed its private offering of an additional $50.0 million aggregate principal amount of 10.500% senior secured notes due 2027, at an issue price equal to 94.585% of principal. The additional notes and the existing $450.0 million notes will be treated as a single class for all purposes under that certain indenture dated as of July 7, 2022, as supplemented. Net proceeds were distributed to the Parent. These notes were not effective until the spin-off, described below, was complete. Conversion of Limited Liability Company to Corporation On July 29, 2022, FTAI Infrastructure LLC was converted to a corporation, FTAI Infrastructure Inc., pursuant to the laws of the State of Delaware. Adoption of Management Agreement On July 31, 2022, FTAI Infrastructure Inc. entered into a management agreement with FIG LLC (the “Manager”), an affiliate of Fortress (the “Management Agreement”), with substantially the same terms as the previously held management agreement between the Parent and the Manager. FTAI Infrastructure Spin-off On August 1, 2022, FTAI completed the spin-off of FTAI Infrastructure Inc., in which FTAI shareholders received one share of common stock of FTAI Infrastructure Inc., par value $0.01 per share for every one common share of FTAI held as of the close of business on July 21, 2022, the record date for the separation. Following the distribution, FTAI Infrastructure Inc. became an independent, publicly-traded company with its common stock listed under the symbol “FIP" on The Nasdaq Global Select Market. Manager Options In connection with the spin-off, FTAI Infrastructure Inc. issued 10.9 million options to the Manager pursuant to the Management Agreement as compensation to the Manager for the successful completion of an offering. Nonqualified Stock Option and Incentive Award Plan On August 1, 2022, the Board of Directors adopted a Nonqualified Stock Option and Incentive Award Plan which provides for the ability to grant equity compensation awards in the form of stock options, stock appreciation rights, restricted stock, and performance awards to eligible employees, consultants, directors, and other individuals who provide services to us, each as determined by the Compensation Committee of the Board of Directors. As of August 1, 2022, the Plan provides for the issuance of up to 30 million shares of the Company’s common stock. 20. SUBSEQUENT EVENTS Subscription Agreements On June 30, 2022, our Holding Company and Transtar, LLC, a subsidiary of our Holding Company, entered into subscription agreements with entities affiliated with Ares Management LLC (collectively, the “Subscriber”). Pursuant to the subscription agreement, the Holding Company agreed to sell to the Subscriber (i) 300,000 shares of newly-created Series A Senior Preferred Stock with a par value of $0.01 per share, (ii) warrants representing the right to purchase 3,342,566 shares of common stock of the Holding Company, with a par value of $0.01 per share, at an exercise price of $10.00 per share (as adjusted in accordance with the agreement governing the warrants), and (iii) warrants representing the right to purchase 3,342,566 shares of common stock at an exercise price of $0.01 per share, for an aggregate purchase price of $300.0 million, net of a discount of $9.0 million. Net proceeds were distributed to the Parent. These agreements were not effective until the spin-off, described below, was complete. Senior Secured Notes Offering On July 7, 2022, the Holding Company closed its private offering of $450.0 million aggregate principal amount of 10.500% senior secured notes due 2027, at an issue price equal to 94.585% of principal. On July 25, 2022, the Holding Company closed its private offering of an additional $50.0 million aggregate principal amount of 10.500% senior secured notes due 2027, at an issue price equal to 94.585% of principal. The additional notes and the existing $450.0 million notes will be treated as a single class for all purposes under that certain indenture dated as of July 7, 2022, as supplemented. Net proceeds were distributed to the Parent. These notes were not effective until the spin-off, described below, was complete. Conversion of Limited Liability Company to Corporation On July 29, 2022, FTAI Infrastructure LLC was converted to a corporation, FTAI Infrastructure Inc., pursuant to the laws of the State of Delaware. Adoption of Management Agreement On July 31, 2022, the Holding Company entered into a management agreement with the Manager, an affiliate of Fortress (the “Management Agreement”), with substantially the same terms as the previously held management agreement between the Parent and the Manager. FTAI Infrastructure Spin-off On August 1, 2022, FTAI completed the spin-off of FTAI Infrastructure Inc., in which FTAI shareholders received one share of common stock of FTAI Infrastructure Inc., par value $0.01 per share for every one common share of FTAI held as of the close of business on July 21, 2022, the record date for the separation. Following the distribution, FTAI Infrastructure Inc. became an independent, publicly-traded company with its common stock listed under the symbol “FIP" on The Nasdaq Global Select Market. Manager Options In connection with the spin-off, the Holding Company issued 10.9 million options to the Manager pursuant to the Management Agreement as compensation to the Manager for the successful completion of an offering. Nonqualified Stock Option and Incentive Award Plan

BASIS OF PRESENTATION AND SUM_2

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation —The accompanying financial statements are presented on the accrual basis of accounting and in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). Separate statements of income, changes in equity, and cash flows have not been included with the balance sheet as of December 31, 2021 because the Company had not begun its principal operations and had no revenue, expenses, changes in equity, or changes in cash flows to report. Basis of Presentation —The accompanying Combined Consolidated Financial Statements were prepared on a standalone basis and have been derived from the consolidated financial statements and accounting records of the Parent. These financial statements reflect the combined consolidated historical results of operations, financial position and cash flows of FTAI Infrastructure in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”). Historically, separate financial statements have not been prepared for FTAI Infrastructure and it has not operated as a standalone business separate from the Parent. The accompanying Combined Consolidated Financial Statements have been prepared from the Parent’s historical accounting records and are presented on a standalone basis as if the operations had been conducted independently from Parent. Accordingly, Parent’s net investment in our operations (Parent company equity) is shown in lieu of stockholders’ equity in the accompanying Combined Consolidated Financial Statements, which include the historical operations, assets, and liabilities comprising FTAI Infrastructure. The historical results of operations, financial position, and cash flows of FTAI Infrastructure represented in the Combined Consolidated Financial Statements may not be indicative of what they would have been had FTAI Infrastructure actually been a separate standalone entity during such periods, nor are they necessarily indicative of our future results of operations, financial position, and cash flows. The Combined Consolidated Financial Statements include certain assets and liabilities that have historically been held by the Parent but are specifically identifiable or otherwise attributable to FTAI Infrastructure. All significant intercompany transactions between Parent and FTAI Infrastructure have been included as components of Net Parent investment in the Combined Consolidated Financial Statements, as they are to be considered effectively settled upon effectiveness of the separation. The Combined Consolidated Financial Statements are presented as if our businesses had been combined for all periods presented. The assets and liabilities in the Combined Consolidated Financial Statements have been reflected on a historical cost basis, as immediately prior to the separation, all of the assets and liabilities presented are owned by the Parent and are being transferred to us at a carry-over basis.
Debt and the Corresponding Interest Expense	Debt and the Corresponding Interest Expense — The Debt reflected in the financial statements of FTAI Infrastructure is debt that is directly attributable to, and legally incurred by, FTAI Infrastructure’s business. The corresponding interest expense presented in the financial statements is derived solely from the Debt directly attributed to FTAI Infrastructure.
Corporate Function, Unaudited Interim Financial Information, Principles of Combination, and Principles of Consolidation	Corporate Function —The Combined Consolidated Financial Statements include all revenues and costs directly attributable to FTAI Infrastructure and an allocation of certain expenses. The Parent is externally managed by FIG LLC (the “Manager”), an affiliate of Fortress Investment Group LLC (“Fortress”), which performs the Parent’s corporate function (“Corporate”), and incurs a variety of expenses including, but not limited to, information technology, accounting, treasury, tax, legal, corporate finance and communications. For purposes of the Combined Consolidated Statements of Operations, an allocation of these expenses is included to reflect our portion of such corporate overhead from the Parent. The charges reflected have either been specifically identified or allocated based on an estimate of time spent on FTAI Infrastructure’s businesses. These allocated costs are recorded in general and administrative, and acquisition and transaction expenses in the Combined Consolidated Statements of Operations. We believe the assumptions regarding allocations of the Parent’s Corporate expenses are reasonable. Nevertheless, the allocations may not be indicative of the actual expense that would have been incurred had FTAI Infrastructure operated as an independent, standalone public entity, nor are they indicative of FTAI Infrastructure’s future expenses. Actual costs that may have been incurred if we had been a standalone company would depend on a number of factors, including the organizational structure, what functions were outsourced or performed by employees and strategic decisions made in areas such as information technology and infrastructure. We have entered into an arrangement with the Manager in connection with the separation which has an initial term of six years. The Parent funded our operating and investing activities as needed. Cash transfers to and from the Parent are reflected in the Combined Consolidated Statements of Cash Flows as “Net transfers from Parent”. Refer to Note 16 for additional discussion on corporate costs allocated from the Parent that are included in these Combined Consolidated Financial Statements . Unaudited Interim Financial Information —The accompanying interim Combined Consolidated Balance Sheet as of June 30, 2022, and the Combined Consolidated Statements of Operations, Comprehensive Loss, Changes in Equity and Cash Flows for the three and six months ended June 30, 2022 and 2021 are unaudited. These unaudited interim Combined Consolidated Financial Statements have been prepared in accordance with U.S. GAAP. In the opinion of our management, the unaudited interim Combined Consolidated Financial Statements have been prepared on the same basis as the audited Combined Consolidated Financial Statements and include all adjustments necessary for the fair presentation of our financial position as of June 30, 2022, the results of operations, comprehensive loss, changes in equity and cash flows for the three and six months ended June 30, 2022 and 2021. The results of operations for the three and six months ended June 30, 2022 are not necessarily indicative of the results to be expected for the year ending December 31, 2022 or for any other period. Principles of Combination —FTAI Infrastructure has elected the principles of Combined Consolidated Financial Statements as basis of presentation due to common ownership and management of the entities, which includes the financial results of the Jefferson Terminal, Transtar, and Ports and Terminals segments, and KRS and FYX, which are included in the Corporate and Other segment. Principles of Consolidation — We consolidate all entities in which we have a controlling financial interest and control over significant operating decisions, as well as variable interest entities (“VIEs”) in which we are the primary beneficiary. All significant intercompany transactions and balances have been eliminated. All adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. The ownership interest of other investors in consolidated subsidiaries is recorded as non-controlling interest. We use the equity method of accounting for investments in entities in which we exercise significant influence but which do not meet the requirements for consolidation. Under the equity method, we record our proportionate share of the underlying net income (loss) of these entities as well as the proportionate interest in adjustments to other comprehensive income (loss).
Use of Estimates	Use of Estimates—The preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities as of the date of the financial statements. Actual results could differ from those 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 combined consolidated financial statements and the reported amounts of revenues and expenses during the reporting period, including allocations from the Parent. 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. 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 do not have significant exposure to foreign currency risk as all of our leasing and revenue arrangements are denominated in U.S. dollars.
Variable Interest Entities (“VIE”)	Variable Interest Entities (“VIE”) — The assessment of whether an entity is a VIE and the determination of whether to consolidate a VIE requires judgment. VIEs are defined as entities in which equity investors do not have the characteristics of a controlling financial interest or do not have sufficient equity at risk for the entity to finance its activities without additional subordinated financial support from other parties. A VIE is required to be consolidated by its primary beneficiary, and only by its primary beneficiary, which is defined as the party who has the power to direct the activities of a VIE that most significantly impact its economic performance and who has the obligation to absorb losses or the right to receive benefits from the VIE that could potentially be significant to the VIE.
Cash and Cash Equivalents	Cash —The Company maintains its cash with high-credit quality financial institutions, which are insured by the U.S. Federal Deposit Insurance Corporation. Cash and Cash Equivalents —The Cash and Cash Equivalents reflected in the financial statements of FTAI Infrastructure are Cash and Cash Equivalents that were legally held by FTAI Infrastructure during the periods presented in the financial statements and are directly attributed to and used in the operations of the infrastructure business. 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 —
Capitalized Interest	Capitalized Interest—The interest cost associated with major development and construction projects is 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.
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 change in market conditions; or the introduction of newer technology. 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 terminal services contracts, future projected leases, terminal service and freight rail rates, transition costs, 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 demand for a particular asset and historical experience, 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, terminal service, and freight rail rates, residual values, economic conditions, technology, demand for a particular asset type and other factors.
Goodwill	Goodwill —Goodwill includes the excess of the purchase price over the fair value of the net tangible and intangible assets associated with the acquisition of Jefferson Terminal, Transtar and FYX. The carrying amount of goodwill was approximately $262.8 million and $257.1 million as of June 30, 2022 and December 31, 2021, respectively. We review the carrying values of goodwill at least annually to assess impairment since these assets are not amortized. An annual impairment review is conducted as of October 1st of each year. Additionally, we review 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 the year ended December 31, 2021. We estimate the fair value of the Jefferson and Transtar reporting units using an income approach, specifically a discounted cash flow analysis. This analysis requires us to make significant assumptions and estimates about the forecasted revenue growth rates, EBITDA margins, capital expenditures, the timing of future cash flows, and discount rates. The estimates and assumptions used consider historical performance if indicative of future performance and are consistent with the assumptions used in determining future profit plans for the reporting units.
Intangibles and amortization	Intangibles and amortization —Intangible assets include the value of existing customer relationships acquired in connection with the acquisition of Jefferson Terminal and Transtar.
Deferred Financing Costs	Deferred Financing Costs—Costs incurred in connection with obtaining long-term financing are capitalized and amortized to interest expense over the term of the underlying loans
Revenues	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 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. For interline traffic, one railroad typically invoices a customer on behalf of all railroads participating in the route directed by the customer. The invoicing railroad then pays the other railroads its portion of the total amount invoiced on a monthly basis. 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. Our 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. See Commodity Derivatives below for additional information. Other revenue 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.
Leasing Arrangements	Leasing Arrangements — At contract inception, we evaluate whether an arrangement is or contains a lease for which we are the lessee (that is, arrangements which provide us with the right to control a physical asset for a period of time). Operating lease right-of-use (“ROU”) assets and lease liabilities are recognized in Operating lease right-of-use assets, net and Operating lease liabilities in our Combined Consolidated Balance Sheets, respectively. Finance lease ROU assets are recognized in Property, plant and equipment, net and lease liabilities are recognized in Other current liabilities and Other liabilities in our Combined Consolidated Balance Sheets. All lease liabilities are measured at the present value of the unpaid lease payments, discounted using our incremental borrowing rate based on the information available at commencement date of the lease. ROU assets , for both operating and finance leases , are initially measured based on the lease liability, adjusted for prepaid rent and lease incentives. ROU assets are subsequently measured at the carrying amount of the lease liability adjusted for prepaid or accrued lease payments and lease incentives. The finance lease ROU assets are subsequently amortized using the straight-line method. Operating lease expenses are recognized on a straight-line basis over the lease term. With respect to finance leases, amortization of the ROU asset is presented separately from interest expense related to the finance lease liability. Variable lease payments, which are primarily based on usage, are recognized when the associated activity occurs. We have elected to combine lease and non-lease components for all lease contracts where we are the lessee. Additionally, for arrangements with lease terms of 12 months or less, we do not recognize ROU assets, and lease liabilities and lease payments are recognized on a straight-line basis over the lease term with variable lease payments recognized in the period in which the obligation is incurred .
Concentration of Credit Risk	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. We earned approximately 11% and 10% of our revenue for the three and six months ended June 30, 2022 from one customer in the Jefferson Terminal segment, respectively. Additionally, for the three months ended June 30, 2022, one customer from the Ports and Terminal segment accounted for 21% of our revenue. For the three months ended June 30, 2021, we earned 33%, 21%, and 16% of our revenues from three customers in the Jefferson Terminal segment. For the six months ended June 30, 2021, we earned 26%, 16%, and 13% of our revenues from three customers in the Jefferson Terminal segment. During the three and six months ended June 30, 2022, one customer in the Transtar segment accounted for approximately 54% and 61% of total revenue, respectively. As of June 30, 2022, accounts receivable from three customers from the Jefferson Terminal, Ports and Terminals, and Transtar segments represented 59% of total accounts receivable, net. As of December 31, 2021, accounts receivable from two customers from the Jefferson Terminal and Transtar segments represented 48% 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	Allowance for Doubtful Accounts —
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 Combined Consolidated Statements of Operations, adjusted for fair value changes recorded in other comprehensive income related to cash flow hedges of our equity method investees and pension and other postretirement benefits.
Derivative Financial Instruments	Derivative Financial Instruments Electricity Derivatives — Through our equity method investment in Long Ridge, we enter into derivative contracts as part of a risk management program to mitigate price risk associated with certain electricity price exposures. Long Ridge primarily uses swap derivative contracts, which are agreements to buy or sell a quantity of electricity at a predetermined future date and at a predetermined price. Cash Flow Hedges Certain of these derivative instruments are designated and qualify as cash flow hedges. Our share of the derivative's gain or loss is reported as Other comprehensive income (loss) related to equity method investees, net in our Combined Consolidated Statements of Comprehensive Loss and recorded in Accumulated other comprehensive income in our Combined Consolidated Balance Sheets. The change in our equity method investment balance related to derivative gains or losses on cash flow hedges is disclosed as a Non-cash change in equity method investment in our Combined Consolidated Statements of Cash Flows. Derivatives Not Designated As Hedging Instruments Certain of these derivative instruments are not designated as hedging instruments for accounting purposes. Our share of the change in fair value of these contracts is recognized in Equity in earnings (losses) in unconsolidated entities in the Combined Consolidated Statements of Operations. The cash flow impact of derivative contracts that are not designated as hedging instruments is recognized in Equity in losses (earnings) in unconsolidated entities in our Combined Consolidated Statements of Cash Flows. Commodity Derivatives — Depending on market conditions, we enter into short-term forward purchase and sales contracts for butane. Gains and losses related to our butane derivatives are recorded on a net basis and are included in Other revenue in our Combined Consolidated Statements of Operations, as these contracts are considered part of central operating activities. The cash flow impact of these derivatives is recognized in Change in fair value of non-hedge derivatives in our Combined Consolidated Statements of Cash Flows. We record all derivative assets on a gross basis at fair value, which are included in Other current assets, in our Combined Consolidated Balance Sheets.
Income Taxes	Income Taxes —The income tax provision in the Combined Consolidated Financial Statements was prepared on a separate return method. Income earned by our corporate subsidiaries for the infrastructure businesses is subject to U.S. federal and state income taxation and is taxed at the currently enacted rates. Following the spin-off, all of our income is subject to a corporate level of taxation. We account for these taxes using the asset and liability method under which deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. A valuation allowance is established when management believes it is more likely than not that a deferred tax asset will not be realized. Each of our combined entities files income tax returns in the U.S. federal jurisdiction, various state jurisdictions and in certain foreign jurisdictions. The income tax returns filed by us and our subsidiaries are subject to examination by the U.S. federal, state and foreign tax authorities. We recognize tax benefits for uncertain tax positions only if it is more likely than not that the position is sustainable based on its technical merits. Interest and penalties on uncertain tax positions are included as a component of the provision for income taxes in the Combined Consolidated Statements of Operations.
Pension and Other Postretirement Benefits	Pension and Other Postretirement Benefits —We have obligations for a pension and a postretirement benefit plan in connection with the acquisition of Transtar for certain eligible Transtar employees. The pension and other postretirement obligations and the related net periodic costs are based on, among other things, assumptions regarding the discount rate, salary increases, the projected mortality of participants and the current level and future escalation of health care costs. Actuarial gains and losses occur when actual experience differs from any of the many assumptions used to value the benefit plans, or when assumptions change. We will recognize into income on an annual basis a portion of unrecognized actuarial net gains or losses that exceed 10 percent of the greater of the projected benefit obligations or the market-related value of plan assets (the corridor). This excess is amortized over the average remaining service period of active employees expected to receive benefits under the plan. Refer to Note 14 for additional discussion on the pension and postretirement plans.
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 Combined 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.

BASIS OF PRESENTATION AND SUM_3

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Schedule of Property, Plant and Equipment, Useful Life	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 their estimated useful lives, to estimated residual values which are summarized as follows: Asset Range of Estimated Useful Lives Residual Value Estimates Railcars and locomotives 40 - 50 years from date of manufacture Scrap value at end of useful life Track and track related assets 15 - 50 years from date of manufacture Scrap value at end of useful life Land, site improvements and rights N/A N/A Bridges and tunnels 15 - 55 years Scrap value at end of useful life Buildings and site improvements 20 - 30 years Scrap value at end of useful life Railroad equipment 3 - 15 years from date of manufacture Scrap value at end of useful life Terminal machinery and equipment 15 - 25 years from date of manufacture Scrap value at end of useful life Vehicles 5 - 7 years from date of manufacture Scrap value at end of useful life 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 Property, plant and equipment, net is summarized as follows: June 30, 2022 December 31, 2021 Land, site improvements and rights $ 168,786 $ 149,914 Construction in progress 202,020 118,081 Bridges and tunnels 174,155 174,889 Buildings and improvements 19,297 19,164 Terminal machinery and equipment 972,123 962,552 Track and track related assets 100,067 100,014 Railroad equipment 8,364 8,331 Railcars and locomotives 105,614 111,574 Computer hardware and software 10,635 5,335 Furniture and fixtures 1,745 1,745 Other 10,245 10,016 1,773,051 1,661,615 Less: Accumulated depreciation (174,069) (144,021) Property, plant and equipment, net $ 1,598,982 $ 1,517,594 Depreciation expense for property, plant and equipment is summarized as follows: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Depreciation expense $ 15,158 $ 10,521 $ 30,003 $ 19,440

ACQUISITION OF TRANSTAR, LLC. (

ACQUISITION OF TRANSTAR, LLC. (Tables)	6 Months Ended
	Jun. 30, 2022
Business Combinations [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The following table summarizes the preliminary allocation of the purchase price, as presented in our Combined Consolidated Balance Sheets: Fair value of assets acquired: Cash and cash equivalents $ 8,918 Accounts receivable 18,625 Operating lease right-of-use assets 12,231 Property, plant and equipment 488,233 Intangible assets 60,000 Other assets 17,052 Total assets 605,059 Fair value of liabilities assumed: Accounts payable and accrued liabilities 47,010 Operating lease liabilities 10,689 Pension and other postretirement benefits (1) 37,552 Other liabilities 8,487 Total liabilities 103,738 Goodwill (2) 134,687 Total purchase consideration $ 636,008 ________________________________________________________ (1) Included in Other liabilities in the Combined Consolidated Balance Sheets. (2) Goodwill is primarily attributable to the assembled workforce of Transtar and the synergies expected to be achieved. This goodwill is assigned to the new Transtar segment and is tax deductible for income tax purposes.
Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination	The following table presents the identifiable intangible assets and their estimated useful lives: Estimated useful life in years Fair value Customer relationships 15 $ 60,000 Total $ 60,000
Schedule of Property Plant And Equipment Acquired as Part of Business Combination	The following table presents the property, plant and equipment and their estimated remaining useful lives: Estimated remaining useful life in years Fair value Railcars and locomotives 1 - 40 $ 111,359 Track and track related assets 1 - 40 90,904 Land, site improvements and rights N/A 87,450 Bridges and tunnels 15 - 55 174,183 Buildings and improvements 3 - 25 12,448 Railroad equipment 2 - 15 2,725 Terminal machinery and equipment 2 - 15 3,325 Vehicles 2 - 5 3,740 Construction in progress N/A 1,928 Computer hardware and software 2 - 5 171 Total $ 488,233
Business Acquisition, Pro Forma Information	Three Months Ended June 30, 2021 Six Months Ended June 30, 2021 Total revenue $ 49,980 $ 105,158 Net loss attributable to Parent (13,362) (12,486)

LEASING EQUIPMENT, NET (Tables)

LEASING EQUIPMENT, NET (Tables)	6 Months Ended
	Jun. 30, 2022
Leases [Abstract]
Schedule of Lessor, Operating Leases	Leasing equipment, net is summarized as follows: June 30, 2022 December 31, 2021 Leasing equipment $ 44,179 $ 44,179 Less: Accumulated depreciation (8,720) (8,167) Leasing equipment, net $ 35,459 $ 36,012
Operating Lease, Lease Income	Depreciation expense for leasing equipment is summarized as follows: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Depreciation expense for leasing equipment $ 276 $ 276 $ 552 $ 552

PROPERTY, PLANT AND EQUIPMENT_2

PROPERTY, PLANT AND EQUIPMENT, NET (Tables)	6 Months Ended
	Jun. 30, 2022
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	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 their estimated useful lives, to estimated residual values which are summarized as follows: Asset Range of Estimated Useful Lives Residual Value Estimates Railcars and locomotives 40 - 50 years from date of manufacture Scrap value at end of useful life Track and track related assets 15 - 50 years from date of manufacture Scrap value at end of useful life Land, site improvements and rights N/A N/A Bridges and tunnels 15 - 55 years Scrap value at end of useful life Buildings and site improvements 20 - 30 years Scrap value at end of useful life Railroad equipment 3 - 15 years from date of manufacture Scrap value at end of useful life Terminal machinery and equipment 15 - 25 years from date of manufacture Scrap value at end of useful life Vehicles 5 - 7 years from date of manufacture Scrap value at end of useful life 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 Property, plant and equipment, net is summarized as follows: June 30, 2022 December 31, 2021 Land, site improvements and rights $ 168,786 $ 149,914 Construction in progress 202,020 118,081 Bridges and tunnels 174,155 174,889 Buildings and improvements 19,297 19,164 Terminal machinery and equipment 972,123 962,552 Track and track related assets 100,067 100,014 Railroad equipment 8,364 8,331 Railcars and locomotives 105,614 111,574 Computer hardware and software 10,635 5,335 Furniture and fixtures 1,745 1,745 Other 10,245 10,016 1,773,051 1,661,615 Less: Accumulated depreciation (174,069) (144,021) Property, plant and equipment, net $ 1,598,982 $ 1,517,594 Depreciation expense for property, plant and equipment is summarized as follows: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Depreciation expense $ 15,158 $ 10,521 $ 30,003 $ 19,440

INVESTMENTS (Tables)

INVESTMENTS (Tables)	6 Months Ended
	Jun. 30, 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 June 30, 2022 December 31, 2021 Intermodal Finance I, Ltd. Equity method 51% $ — $ — Long Ridge Terminal LLC (1) Equity method 50% — — FYX Trust Holdco LLC (2) Equity at December 31, 2021 65% and 14% as of June 30, 2022 and December 31, 2021, respectively (2) — 1,255 GM-FTAI Holdco LLC Equity method See below 72,475 52,295 Clean Planet Energy USA LLC Equity method 50% 4,430 858 $ 76,905 $ 54,408 ________________________________________________________ (1) The carrying value of $188.0 million and $17.5 million as of June 30, 2022 and December 31, 2021 is included in Other liabilities in the Combined Consolidated Balance Sheets. (2) See “Equity Investments - FYX Holdco LLC” below for additional information regarding the FYX Trust Holdco LLC acquisition in May 2022. The following table presents our proportionate share of equity in (losses) income: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Intermodal Finance I, Ltd. $ 44 $ 204 $ 88 $ 376 Long Ridge Terminal LLC (12,971) (7,015) (34,352) (7,640) GM-FTAI Holdco LLC (688) — (1,121) — Clean Planet Energy USA LLC (244) — (517) — Total $ (13,859) $ (6,811) $ (35,902) $ (7,264)
Equity Method Investments Financial Information	The tables below present summarized financial information for Long Ridge Terminal LLC: June 30, 2022 December 31, 2021 Balance Sheet Assets Current assets: Cash and cash equivalents $ 2,470 $ 2,932 Restricted cash 25,096 32,469 Accounts receivable 24,876 17,896 Other current assets 8,089 8,857 Total current assets 60,531 62,154 Property plant & equipment 788,215 764,607 Intangible assets 4,750 4,940 Goodwill 89,390 89,390 Other assets 8,886 5,584 Total assets $ 951,772 $ 926,675 Liabilities Current liabilities: Accounts payable and accrued liabilities $ 46,338 $ 16,121 Debt, net 4,433 — Derivative liabilities 183,555 47,369 Other current liabilities 148 257 Total current liabilities 234,474 63,747 Debt, net 601,741 604,261 Derivative liabilities 488,022 291,664 Other liabilities 2,831 1,989 Total liabilities 1,327,068 961,661 Members' Equity Shareholders' equity (272,779) (1,035) Accumulated deficit (102,517) (33,951) Total members' equity (375,296) (34,986) Total liabilities and members' equity $ 951,772 $ 926,675 Three Months Ended June 30, Six Months Ended June 30, Income Statement 2022 2021 2022 2021 Total revenue $ 19,801 $ 8,849 $ 15,043 $ 17,270 Expenses Operating expenses 19,909 6,715 32,356 10,987 Depreciation and amortization 12,454 3,683 24,998 7,436 Interest expense 13,181 627 26,042 946 Total expenses 45,544 11,025 83,396 19,369 Total other expense (149) (11,825) (213) (8,826) Net loss $ (25,892) $ (14,001) $ (68,566) $ (10,925)

INTANGIBLE ASSETS, NET (Tables)

INTANGIBLE ASSETS, NET (Tables)	6 Months Ended
	Jun. 30, 2022
Intangible Assets and Liabilities Disclosure [Abstract]
Schedule of Finite-Lived Intangible Assets and Liabilities	Intangible assets, net are summarized as follows: June 30, 2022 Jefferson Terminal Transtar Total Intangible assets Customer relationships $ 35,513 $ 60,000 $ 95,513 Less: Accumulated amortization (27,814) (3,722) (31,536) Intangible assets, net $ 7,699 $ 56,278 $ 63,977 December 31, 2021 Jefferson Terminal Transtar Total Intangible assets Customer relationships $ 35,513 $ 60,000 $ 95,513 Less: Accumulated amortization (26,038) (1,738) (27,776) Intangible assets, net $ 9,475 $ 58,262 $ 67,737
Schedule of Intangible Assets and Liabilities	Amortization of intangible assets is as follows: Classification in Combined Consolidated Statements of Operations Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Customer relationships Depreciation and amortization $ 1,885 $ 889 $ 3,760 $ 1,777
Schedule of Net Annual Amortization of Intangibles	As of June 30, 2022, estimated net annual amortization of intangibles is as follows: Remainder of 2022 $ 3,776 2023 7,551 2024 6,131 2025 4,000 2026 4,000 Thereafter 38,519 Total $ 63,977

DEBT, NET (Tables)

DEBT, NET (Tables)	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	Our debt, net is summarized as follows: June 30, 2022 December 31, 2021 Outstanding Borrowings Stated Interest Rate Maturity Date Outstanding Borrowings Loans payable DRP Revolver (1) $ 25,000 (i) Base Rate + 2.75%; or (ii) Base Rate + 3.75% (Eurodollar) 11/5/24 $ 25,000 EB-5 Loan Agreement 35,550 5.75% 1/25/26 26,100 Total loans payable 60,550 51,100 Bonds payable Series 2020 Bonds 263,980 (i) Tax Exempt Series 2020A Bonds: 3.625% (ii) Tax Exempt Series 2020A Bonds: 4.00% (iii) Taxable Series 2020B Bonds: 6.00% (i) 1/1/35 (ii) 1/1/50 (iii) 1/1/25 263,980 Series 2021 Bonds 425,000 (i) Series 2021A Bonds: 1.875% to 3.000% (ii) Series 2021B Bonds: 4.100% (i) 1/1/26 to 1/1/50 (ii) 1/1/28 425,000 Total bonds payable 688,980 688,980 Debt 749,530 740,080 Less: Debt issuance costs (20,120) (21,456) Total debt, net $ 729,410 $ 718,624 Total debt due within one year $ — $ — ________________________________________________________ (1) Requires a quarterly commitment fee at a rate of 1.00% on the average daily unused portion, as well as customary letter of credit fees and agency fees.

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value, Assets Measured on Recurring Basis	The following tables set forth our financial assets measured at fair value on a recurring basis as of June 30, 2022 and December 31, 2021, by level within the fair value hierarchy. Assets measured at fair value are classified in their entirety based on the lowest level of input that is significant to their fair value measurement. Fair Value as of Fair Value Measurements Using Fair Value Hierarchy as of June 30, 2022 June 30, 2022 Total Level 1 Level 2 Level 3 Valuation Technique Assets Cash and cash equivalents $ 68,469 $ 68,469 $ — $ — Market Restricted cash 177,951 177,951 — — Market Derivative assets 748 — 748 — Income Total assets $ 247,168 $ 246,420 $ 748 $ — Fair Value as of Fair Value Measurements Using Fair Value Hierarchy as of December 31, 2021 December 31, 2021 Total Level 1 Level 2 Level 3 Valuation Technique Assets Cash and cash equivalents $ 49,872 $ 49,872 $ — $ — Market Restricted cash 251,983 251,983 — — Market Derivative assets 2,220 — 2,220 — Income Total $ 304,075 $ 301,855 $ 2,220 $ —
Fair Value, by Balance Sheet Grouping	The fair value of our bonds and notes payable reported as debt, net in the Combined Consolidated Balance Sheets are presented in the table below: June 30, 2022 December 31, 2021 Series 2020 A Bonds (1) $ 143,857 $ 189,773 Series 2020 B Bonds (1) 80,014 81,637 Series 2021 A Bonds (1) 161,095 222,023 Series 2021 B Bonds (1) 177,616 194,278 ________________________________________________________ (1) Fair value is based upon market prices for similar municipal securities.

DERIVATIVE FINANCIAL INSTRUME_2

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)	6 Months Ended
	Jun. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Assets at Fair Value	The following table presents information related to our butane derivative contracts: June 30, 2022 December 31, 2021 Notional Amount (BBL in thousands) 1,432 244 Fair Value of Assets (1) $ 748 $ 2,220 Remaining term 1 to 9 months 1 to 3 months ________________________________________________________ (1) Included in Other assets in the Combined Consolidated Balance Sheets.

REVENUES (Tables)

REVENUES (Tables)	6 Months Ended
	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	Three Months Ended June 30, 2022 Jefferson Terminal Ports and Terminals Transtar Corporate and Other Total Lease income $ 314 $ — $ 553 $ — $ 867 Rail revenues — — 37,507 — 37,507 Terminal services revenues 14,214 13 — — 14,227 Other revenue — 1,627 — 11,640 13,267 Total revenues $ 14,528 $ 1,640 $ 38,060 $ 11,640 $ 65,868 Three Months Ended June 30, 2021 Jefferson Terminal Ports and Terminals Transtar Corporate and Other Total Lease income $ 432 $ — $ — $ — $ 432 Terminal services revenues 11,095 25 — — 11,120 Other revenue — 2,318 — 1,474 3,792 Total revenues $ 11,527 $ 2,343 $ — $ 1,474 $ 15,344 Six Months Ended June 30, 2022 Jefferson Terminal Ports and Terminals Transtar Corporate and Other Total Lease income $ 666 $ — $ 1,041 $ — $ 1,707 Rail revenues — 86 71,089 — 71,175 Terminal services revenues 26,908 103 — — 27,011 Other revenue — (535) — 12,658 12,123 Total revenues $ 27,574 $ (346) $ 72,130 $ 12,658 $ 112,016 Six Months Ended June 30, 2021 Jefferson Terminal Ports and Terminals Transtar Corporate and Other Total Lease income $ 862 $ — $ — $ — $ 862 Terminal services revenues 21,384 157 — — 21,541 Other revenue — 10,283 — 3,200 13,483 Total revenues $ 22,246 $ 10,440 $ — $ 3,200 $ 35,886
Operating Lease, Lease Income	Presented below are the contracted minimum future annual revenues to be received under existing operating leases across several market sectors as of June 30, 2022: Operating Leases Remainder of 2022 $ 6,173 2023 4,168 2024 459 2025 459 2026 421 Thereafter — Total $ 11,680

LEASES (Tables)

LEASES (Tables)	6 Months Ended
	Jun. 30, 2022
Leases [Abstract]
Lease, Cost	The following table presents lease related costs: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Finance leases Amortization of right-of-use assets $ 222 $ — $ 431 $ — Interest on lease liabilities 14 — 29 — Finance lease expense 236 — 460 — Operating lease expense 1,627 1,257 3,420 2,397 Short-term lease expense 721 328 1,112 375 Variable lease expense 717 426 1,582 637 Total lease expense $ 3,301 $ 2,011 $ 6,574 $ 3,409
Supplemental Information Related to Leases	The following table presents information related to our operating leases as of and for the six months ended June 30, 2022: Right-of-use assets, net $ 70,148 Lease liabilities 69,139 Weighted average remaining lease term 34.8 years Weighted average incremental borrowing rate 5.7 % Cash paid for amounts included in the measurement of operating lease liabilities $ 3,505
Lessee, Operating Lease, Liability, Maturity	The following table presents future minimum lease payments under non-cancellable operating leases as of June 30, 2022: Remainder of 2022 $ 3,544 2023 6,747 2024 6,176 2025 5,854 2026 5,256 Thereafter 142,878 Total undiscounted lease payments 170,455 Less: Imputed interest 101,316 Total lease liabilities $ 69,139

EQUITY-BASED COMPENSATION (Tabl

EQUITY-BASED COMPENSATION (Tables)	6 Months Ended
	Jun. 30, 2022
Share-based Payment Arrangement [Abstract]
Schedule of Stock-based Compensation Arrangements	Three Months Ended June 30, Six Months Ended June 30, Remaining Expense To Be Recognized, If All Vesting Conditions Are Met Weighted Average Remaining Contractual Term (in years) 2022 2021 2022 2021 Restricted Shares $ 538 $ 1,270 $ 1,076 $ 2,111 $ 2,655 0.8 years Common Units 418 169 589 442 4,227 1.2 years Total $ 956 $ 1,439 $ 1,665 $ 2,553 $ 6,882

RETIREMENT BENEFIT PLAN (Tables

RETIREMENT BENEFIT PLAN (Tables)	6 Months Ended
	Jun. 30, 2022
Retirement Benefits [Abstract]
Schedule of Costs of Retirement Plans	The following table summarizes our retirement benefit plan costs for the three and six months ended June 30, 2022. Service costs and interest costs are recorded in Operating expenses and Other (expense) income, respectively, in the Combined Consolidated Statements of Operations. Three Months Ended June 30, 2022 Six Months Ended June 30, 2022 Pension Benefits Postretirement Benefits Pension Benefits Postretirement Benefits Service costs $ 438 $ 538 $ 876 $ 1,075 Interest costs 74 225 148 450 Total $ 512 $ 763 $ 1,024 $ 1,525

INCOME TAXES (Tables)

INCOME TAXES (Tables)	6 Months Ended
	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense	The current and deferred components of the income tax benefit included in the Combined Consolidated Statements of Operations are as follows: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Current: Federal $ 62 $ 1 $ 62 $ 1 State and local 71 60 142 116 Foreign — — — — Total current provision 133 61 204 117 Deferred: Federal 1,549 (774) 2,607 (1,236) State and local 265 — 720 — Foreign — (2) — (2) Total deferred provision 1,814 (776) 3,327 (1,238) Provision for income taxes $ 1,947 $ (715) $ 3,531 $ (1,121)

MANAGEMENT AGREEMENT AND AFFI_2

MANAGEMENT AGREEMENT AND AFFILIATE TRANSACTIONS (Tables)	6 Months Ended
	Jun. 30, 2022
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	The following table summarizes the management fees, income incentive allocation and capital gains incentive allocation included in these Combined Consolidated Financial Statements: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Management fees $ 3,065 $ 3,817 $ 7,226 $ 7,415 Income incentive allocation — — — — Capital gains incentive allocation — — — — Total $ 3,065 $ 3,817 $ 7,226 $ 7,415 A portion of these reimbursable expenses that the Parent paid to the Manager and are attributable to FTAI Infrastructure are included in the Combined Consolidated Financial Statements as follows: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Classification in the Combined Consolidated Statements of Operations: General and administrative $ 1,098 $ 785 $ 2,228 $ 1,915 Acquisition and transaction expenses 438 2,626 850 3,038 Total $ 1,536 $ 3,411 $ 3,078 $ 4,953 The following table summarizes amounts due to the Manager, which are included within Accounts payable and accrued liabilities in the Combined Consolidated Balance Sheets: June 30, 2022 December 31, 2021 Accrued management fees $ 929 $ 1,495 Other payables 510 1,075 The following table presents the amount of this non-controlling interest share of net loss: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Non-controlling interest share of net loss $ (8,135) $ (6,538) $ (15,271) $ (11,554)

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	6 Months Ended
	Jun. 30, 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 Three Months Ended June 30, 2022 Three Months Ended June 30, 2022 Jefferson Terminal Ports and Terminals Transtar Corporate and Other Total Revenues Total revenues $ 14,528 $ 1,640 $ 38,060 $ 11,640 $ 65,868 Expenses Operating expenses 14,261 4,283 19,197 11,488 49,229 General and administrative — — — 2,498 2,498 Acquisition and transaction expenses — — 149 8,723 8,872 Management fees and incentive allocation to affiliate — — — 3,065 3,065 Depreciation and amortization 9,739 2,376 4,696 508 17,319 Total expenses 24,000 6,659 24,042 26,282 80,983 Other income (expense) Equity in losses of unconsolidated entities — (12,971) — (888) (13,859) Interest expense (6,127) (341) (15) (3) (6,486) Other (expense) income (1,291) — (305) 1,043 (553) Total other (expense) income (7,418) (13,312) (320) 152 (20,898) (Loss) income before income taxes (16,890) (18,331) 13,698 (14,490) (36,013) Provision for income taxes 68 — 1,818 61 1,947 Net (loss) income (16,958) (18,331) 11,880 (14,551) (37,960) Less: Net loss attributable to non-controlling interests in consolidated subsidiaries (8,135) (320) — (25) (8,480) Net (loss) income attributable to Parent $ (8,823) $ (18,011) $ 11,880 $ (14,526) $ (29,480) Six Months Ended June 30, 2022 Jefferson Terminal Ports and Terminals Transtar Corporate and Other Total Revenues Total revenues $ 27,574 $ (346) $ 72,130 $ 12,658 $ 112,016 Expenses Operating expenses 27,384 8,166 38,260 13,487 87,297 General and administrative — — — 4,928 4,928 Acquisition and transaction expenses — — 355 12,753 13,108 Management fees and incentive allocation to affiliate — — — 7,226 7,226 Depreciation and amortization 19,439 4,745 9,455 676 34,315 Total expenses 46,823 12,911 48,070 39,070 146,874 Other income (expense) Equity in losses of unconsolidated entities — (34,352) — (1,550) (35,902) Interest expense (12,237) (628) (75) (5) (12,945) Other (expense) income (1,390) — (665) 1,043 (1,012) Total other expense (13,627) (34,980) (740) (512) (49,859) (Loss) income before income taxes (32,876) (48,237) 23,320 (26,924) (84,717) Provision for income taxes 137 — 3,333 61 3,531 Net (loss) income (33,013) (48,237) 19,987 (26,985) (88,248) Less: Net loss attributable to non-controlling interests in consolidated subsidiaries (15,271) (650) — (25) (15,946) Net (loss) income attributable to Parent $ (17,742) $ (47,587) $ 19,987 $ (26,960) $ (72,302) Three Months Ended June 30, 2021 Jefferson Terminal Ports and Terminals Transtar Corporate and Other Total Revenues Total revenues $ 11,527 $ 2,343 $ — $ 1,474 $ 15,344 Expenses Operating expenses 11,777 3,828 — 1,704 17,309 General and administrative — — — 1,631 1,631 Acquisition and transaction expenses — — — 2,560 2,560 Management fees and incentive allocation to affiliate — — — 3,817 3,817 Depreciation and amortization 9,315 2,216 — 155 11,686 Total expenses 21,092 6,044 — 9,867 37,003 Other income Equity in (losses) earnings of unconsolidated entities — (9,183) — 2,372 (6,811) Gain on sale of assets, net — 16 — — 16 Interest expense (3,213) (295) — (21) (3,529) Other (expense) income (886) 91 — 3 (792) Total other (expense) income (4,099) (9,371) — 2,354 (11,116) Loss before income taxes (13,664) (13,072) — (6,039) (32,775) Provision for (benefit from) income taxes 59 (774) — — (715) Net loss (13,723) (12,298) — (6,039) (32,060) Less: Net loss attributable to non-controlling interests in consolidated subsidiaries (6,538) (87) — — (6,625) Net loss attributable to Parent $ (7,185) $ (12,211) $ — $ (6,039) $ (25,435) IV. For the Six Months Ended June 30, 2021 Six Months Ended June 30, 2021 Jefferson Terminal Ports and Terminals Transtar Corporate and Other Total Revenues Total revenues $ 22,246 $ 10,439 $ — $ 3,201 $ 35,886 Expenses Operating expenses 23,498 6,930 — 3,690 34,118 General and administrative — — — 3,665 3,665 Acquisition and transaction expenses — — — 3,518 3,518 Management fees and incentive allocation to affiliate — — — 7,415 7,415 Depreciation and amortization 17,033 4,427 — 309 21,769 Total expenses 40,531 11,357 — 18,597 70,485 Other income (expense) Equity in losses (earnings) of unconsolidated entities — (7,641) — 377 (7,264) Gain on sale of assets, net — 16 — — 16 Interest expense (4,416) (574) — (22) (5,012) Other (expense) income (705) 91 — 3 (611) Total other (expense) income (5,121) (8,108) — 358 (12,871) Loss before income taxes (23,406) (9,026) — (15,038) (47,470) Provision for (benefit from) income taxes 115 (1,236) — — (1,121) Net loss (23,521) (7,790) — (15,038) (46,349) Less: Net loss attributable to non-controlling interests in consolidated subsidiaries (11,554) (32) — — (11,586) Net loss attributable to Parent $ (11,967) $ (7,758) $ — $ (15,038) $ (34,763)
Reconciliation of Operating Profit (Loss) from Segments to Consolidated	The following table sets forth a reconciliation of Adjusted EBITDA to net loss attributable to Parent: Three Months Ended June 30, 2022 Jefferson Terminal Ports and Terminals Transtar Corporate and Other Total Adjusted EBITDA $ 4,158 $ 3,675 $ 18,826 $ (5,105) $ 21,554 Add: Non-controlling share of Adjusted EBITDA 3,716 Add: Equity in losses of unconsolidated entities (13,859) Less: Pro-rata share of Adjusted EBITDA from unconsolidated entities (6,825) Less: Interest expense (6,486) Less: Depreciation and amortization expense (17,319) Less: Incentive allocations — Less: Asset impairment charges — Less: Changes in fair value of non-hedge derivative instruments 1,514 Less: Losses on the modification or extinguishment of debt and capital lease obligations — Less: Acquisition and transaction expenses (8,872) Less: Equity-based compensation expense (956) Less: Provision for income taxes (1,947) Net loss attributable to Parent $ (29,480) The following table sets forth a reconciliation of Adjusted EBITDA to net loss attributable to Parent: Six Months Ended June 30, 2022 Jefferson Terminal Ports and Terminals Transtar Corporate and Other Total Adjusted EBITDA $ 7,964 $ 5,044 $ 33,473 $ (13,365) $ 33,116 Add: Non-controlling share of Adjusted EBITDA 7,532 Add: Equity in losses of unconsolidated entities (35,902) Less: Pro-rata share of Adjusted EBITDA from unconsolidated entities (12,232) Less: Interest expense (12,945) Less: Depreciation and amortization expense (34,315) Less: Incentive allocations — Less: Asset impairment charges — Less: Changes in fair value of non-hedge derivative instruments 748 Less: Losses on the modification or extinguishment of debt and capital lease obligations — Less: Acquisition and transaction expenses (13,108) Less: Equity-based compensation expense (1,665) Less: Benefit from income taxes (3,531) Net loss attributable to Parent $ (72,302) The following table sets forth a reconciliation of Adjusted EBITDA to net loss attributable to Parent: Three Months Ended June 30, 2021 Jefferson Terminal Ports and Terminals Transtar Corporate and Other Total Adjusted EBITDA $ 3,555 $ 375 $ — $ (5,696) $ (1,766) Add: Non-controlling share of Adjusted EBITDA 3,257 Add: Equity in income of unconsolidated entities (6,811) Less: Pro-rata share of Adjusted EBITDA from unconsolidated entities (225) Less: Interest expense (3,529) Less: Depreciation and amortization expense (11,686) Less: Incentive allocations — Less: Asset impairment charges — Less: Changes in fair value of non-hedge derivative instruments (1,391) Less: Losses on the modification or extinguishment of debt and capital lease obligations — Less: Acquisition and transaction expenses (2,560) Less: Equity-based compensation expense (1,439) Less: Provision for income taxes 715 Net loss attributable to Parent $ (25,435) The following table sets forth a reconciliation of Adjusted EBITDA to net loss attributable to Parent: Six Months Ended June 30, 2021 Jefferson Terminal Ports and Terminals Transtar Corporate and Other Total Adjusted EBITDA $ 6,383 $ 507 $ — $ (11,532) $ (4,642) Add: Non-controlling share of Adjusted EBITDA 5,286 Add: Equity in losses of unconsolidated entities (7,264) Less: Pro-rata share of Adjusted EBITDA from unconsolidated entities (2,985) Less: Interest expense (5,012) Less: Depreciation and amortization expense (21,769) Less: Incentive allocations — Less: Asset impairment charges — Less: Changes in fair value of non-hedge derivative instruments 6,573 Less: Losses on the modification or extinguishment of debt and capital lease obligations — Less: Acquisition and transaction expenses (3,518) Less: Equity-based compensation expense (2,553) Less: Benefit from income taxes 1,121 Net loss attributable to Parent $ (34,763)
Reconciliation of Other Significant Reconciling Items from Segments to Consolidated	The following tables sets forth the summarized balance sheet. All property, plant and equipment and leasing equipment are located in North America. June 30, 2022 Jefferson Terminal Ports and Terminals Transtar Corporate and Other Total Current assets $ 236,128 $ 49,734 67,884 $ 73,845 $ 427,591 Non-current assets 1,068,387 282,109 680,326 $ 101,815 2,132,637 Total assets 1,304,515 331,843 748,210 175,660 2,560,228 Debt, net 704,410 25,000 — — 729,410 Current liabilities 72,231 20,826 48,503 33,331 174,891 Non-current liabilities 763,481 216,065 59,758 220 1,039,524 Total liabilities 835,712 236,891 108,261 33,551 1,214,415 Non-controlling interests in equity of consolidated subsidiaries (16,799) 1,559 268 4,216 (10,756) Total equity 468,803 94,952 639,949 142,109 1,345,813 Total liabilities and equity $ 1,304,515 $ 331,843 $ 748,210 $ 175,660 $ 2,560,228 December 31, 2021 Jefferson Terminal Ports and Terminals Transtar Corporate and Other Total Current assets $ 296,753 $ 35,300 $ 71,946 $ 8,985 $ 412,984 Non-current assets 987,678 281,599 690,492 69,548 2,029,317 Total assets 1,284,431 316,899 762,438 78,533 2,442,301 Debt, net 693,624 25,000 — — 718,624 Current liabilities 67,612 5,155 55,832 868 129,467 Non-current liabilities 753,113 45,496 52,100 79 850,788 Total liabilities 820,725 50,651 107,932 947 980,255 Non-controlling interests in equity of consolidated subsidiaries (2,604) 1,888 — 625 (91) Total equity 463,706 266,248 654,506 77,586 1,462,046 Total liabilities and equity $ 1,284,431 $ 316,899 $ 762,438 $ 78,533 $ 2,442,301

ORGANIZATION (Details)

ORGANIZATION (Details) - 6 months ended Jun. 30, 2022	freightRailroad	segment	switchingCompany
Segment Reporting Information [Line Items]
Number of reportable segments		3
Transtar
Segment Reporting Information [Line Items]
Number of segment components	5		1

BASIS OF PRESENTATION AND SUM_4

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details) bbl in Millions	3 Months Ended		6 Months Ended						12 Months Ended
	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2022 USD ($) freightRailroad	Jun. 30, 2022 USD ($)	Jun. 30, 2022 USD ($) switchingCompany	Jun. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)	Oct. 01, 2021 bbl
Accounting Policies [Line Items]
Total assets	$ 2,560,228,000		$ 2,560,228,000	$ 2,560,228,000	$ 2,560,228,000	$ 2,560,228,000	$ 2,560,228,000		$ 2,442,301,000
Total liabilities	1,214,415,000		1,214,415,000	1,214,415,000	1,214,415,000	1,214,415,000	1,214,415,000		980,255,000
Other current assets	92,598,000		92,598,000	92,598,000	92,598,000	92,598,000	92,598,000		60,828,000
Capitalized interest	2,200,000	$ 1,000,000		4,300,000				$ 3,400,000
Repairs and maintenance costs	4,000,000	800,000		5,400,000				1,700,000
Goodwill	262,819,000		$ 262,819,000	262,819,000	262,819,000	262,819,000	262,819,000		$ 257,137,000
Barrels for storage capacity in operation | bbl										4.3
Number of barrels for storage, under construction | bbl										1.9
Goodwill, impairment	0	0		0				0
Intangible asset, weighted average remaining amortization period			151 months						154 months
Deferred financing costs	20,120,000		$ 20,120,000	20,120,000	20,120,000	20,120,000	20,120,000		$ 21,456,000
Other assets	24,347,000		24,347,000	24,347,000	24,347,000	24,347,000	24,347,000		24,882,000
Environmental liabilities	4,100,000		4,100,000	4,100,000	4,100,000	4,100,000	4,100,000		4,100,000
Insurance premium liabilities	2,800,000		$ 2,800,000	2,800,000	$ 2,800,000	2,800,000	$ 2,800,000		$ 1,700,000
Amortization of deferred financing costs	900,000	$ 600,000		1,695,000				$ 1,051,000
Measurement Input, Discount Rate | Goodwill
Accounting Policies [Line Items]
Alternative investment, measurement input									0.090
Measurement Input, Growth Rate | Goodwill
Accounting Policies [Line Items]
Alternative investment, measurement input									0.020
Transtar
Accounting Policies [Line Items]
Number of segment components					5		1
Minimum
Accounting Policies [Line Items]
Intangible assets, estimated useful life			5 years
Maximum
Accounting Policies [Line Items]
Intangible assets, estimated useful life			15 years
CarbonFree
Accounting Policies [Line Items]
Other assets									$ 10,000,000
Other Assets
Accounting Policies [Line Items]
Deferred financing fees and stock issuance costs	25,700,000		$ 25,700,000	25,700,000	$ 25,700,000	25,700,000	$ 25,700,000		0
Commodities inventory	5,900,000		5,900,000	5,900,000	5,900,000	5,900,000	5,900,000		6,800,000
Purchase deposits	18,200,000		18,200,000	18,200,000	18,200,000	18,200,000	18,200,000		17,200,000
Notes receivable	5,000,000		5,000,000	5,000,000	5,000,000	5,000,000	5,000,000		7,500,000
Prepaid expense	20,800,000		20,800,000	20,800,000	20,800,000	20,800,000	20,800,000		17,400,000
Other current assets	$ 17,100,000		$ 17,100,000	$ 17,100,000	$ 17,100,000	$ 17,100,000	$ 17,100,000		11,900,000
Deferred financing costs									$ 0
Customer One | Customer Concentration Risk | Sales Revenue, Segment | Jefferson Terminal
Accounting Policies [Line Items]
Concentration risk	11%	33%				10%		26%
Customer One | Customer Concentration Risk | Sales Revenue, Segment | Ports and Terminals
Accounting Policies [Line Items]
Concentration risk	21%
Customer One | Customer Concentration Risk | Sales Revenue, Segment | Transtar
Accounting Policies [Line Items]
Concentration risk	54%					61%
Customer Two | Customer Concentration Risk | Sales Revenue, Segment | Jefferson Terminal
Accounting Policies [Line Items]
Concentration risk		21%						16%
Customer Three | Customer Concentration Risk | Sales Revenue, Segment | Jefferson Terminal
Accounting Policies [Line Items]
Concentration risk		16%						13%
Three Customers | Customer Concentration Risk | Accounts Receivable
Accounting Policies [Line Items]
Concentration risk						59%
Two Customers | Customer Concentration Risk | Accounts Receivable | Jefferson Terminal And Transtar
Accounting Policies [Line Items]
Concentration risk									48%
Delaware River Partners LLC | Variable Interest Entity, Primary Beneficiary
Accounting Policies [Line Items]
Ownership percentage	98%		98%	98%	98%	98%	98%
Interest held in VIE, as a percentage						100%
Total assets	$ 331,200,000		$ 331,200,000	$ 331,200,000	$ 331,200,000	$ 331,200,000	$ 331,200,000		$ 316,500,000
Total liabilities	$ 48,200,000		$ 48,200,000	$ 48,200,000	$ 48,200,000	$ 48,200,000	$ 48,200,000		$ 32,600,000
Manager | Manager Arrangement
Accounting Policies [Line Items]
Related party agreement, initial term	6 years		6 years	6 years	6 years	6 years	6 years

BASIS OF PRESENTATION AND SUM_5

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Useful Life (Details)	6 Months Ended
	Jun. 30, 2022
Railcars and locomotives | Minimum
Property, Plant and Equipment [Line Items]
Useful life	40 years
Railcars and locomotives | Maximum
Property, Plant and Equipment [Line Items]
Useful life	50 years
Track and track related assets | Minimum
Property, Plant and Equipment [Line Items]
Useful life	15 years
Track and track related assets | Maximum
Property, Plant and Equipment [Line Items]
Useful life	50 years
Bridges and tunnels | Minimum
Property, Plant and Equipment [Line Items]
Useful life	15 years
Bridges and tunnels | Maximum
Property, Plant and Equipment [Line Items]
Useful life	55 years
Buildings and site improvements | Minimum
Property, Plant and Equipment [Line Items]
Useful life	20 years
Buildings and site improvements | Maximum
Property, Plant and Equipment [Line Items]
Useful life	30 years
Railroad equipment | Minimum
Property, Plant and Equipment [Line Items]
Useful life	3 years
Railroad equipment | Maximum
Property, Plant and Equipment [Line Items]
Useful life	15 years
Terminal machinery and equipment | Minimum
Property, Plant and Equipment [Line Items]
Useful life	15 years
Terminal machinery and equipment | Maximum
Property, Plant and Equipment [Line Items]
Useful life	25 years
Vehicles | Minimum
Property, Plant and Equipment [Line Items]
Useful life	5 years
Vehicles | Maximum
Property, Plant and Equipment [Line Items]
Useful life	7 years
Furniture and fixtures | Minimum
Property, Plant and Equipment [Line Items]
Useful life	3 years
Furniture and fixtures | Maximum
Property, Plant and Equipment [Line Items]
Useful life	6 years
Computer hardware and software | Minimum
Property, Plant and Equipment [Line Items]
Useful life	2 years
Computer hardware and software | Maximum
Property, Plant and Equipment [Line Items]
Useful life	5 years

ACQUISITION OF TRANSTAR, LLC. -

ACQUISITION OF TRANSTAR, LLC. - Narrative (Details) $ in Thousands					3 Months Ended		6 Months Ended
	Jul. 28, 2021 USD ($)	Jul. 28, 2021 USD ($)	Jul. 28, 2021 USD ($) freightRailroad	Jul. 28, 2021 USD ($) switchingCompany	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)
Business Acquisition [Line Items]
Cash consideration							$ 3,819	$ 0
Transaction related costs					$ 8,872	$ 2,560	13,108	3,518
Debt, net					$ 729,410		$ 729,410		$ 718,624
Bridge Loans
Business Acquisition [Line Items]
Debt, net	$ 650,000	$ 650,000	$ 650,000	$ 650,000
Transtar
Business Acquisition [Line Items]
Percent interest acquired	100%	100%	100%	100%
Cash consideration		$ 636,000
Number of segment components			5	1
Consideration term	15 years
Consideration, minimum volume commitments term	5 years
Transaction related costs						$ 2,400		$ 3,000

ACQUISITION OF TRANSTAR, LLC._2

ACQUISITION OF TRANSTAR, LLC. - Schedule of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021	Jul. 28, 2021
Business Acquisition [Line Items]
Goodwill	$ 262,819	$ 257,137
Transtar
Business Acquisition [Line Items]
Cash and cash equivalents			$ 8,918
Accounts receivable			18,625
Operating lease right-of-use assets			12,231
Property, plant and equipment			488,233
Intangible assets			60,000
Other assets			17,052
Total assets			605,059
Accounts payable and accrued liabilities			47,010
Operating lease liabilities			10,689
Pension and other postretirement benefits			37,552
Other liabilities			8,487
Total liabilities			103,738
Goodwill			134,687
Total purchase consideration			$ 636,008

ACQUISITION OF TRANSTAR, LLC._3

ACQUISITION OF TRANSTAR, LLC. - Intangible Assets Acquired (Details) - USD ($) $ in Thousands		6 Months Ended
	Jul. 28, 2021	Jun. 30, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Total intangible assets		$ 63,977	$ 67,737
Transtar
Business Acquisition [Line Items]
Estimated useful life in years	15 years
Total intangible assets	$ 60,000
Minimum
Business Acquisition [Line Items]
Estimated useful life in years		5 years
Maximum
Business Acquisition [Line Items]
Estimated useful life in years		15 years

ACQUISITION OF TRANSTAR, LLC._4

ACQUISITION OF TRANSTAR, LLC. - Property, Plant, and Equipment Acquired (Details) - USD ($) $ in Thousands		6 Months Ended
	Jul. 28, 2021	Jun. 30, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Property, plant, and equipment, net		$ 1,598,982	$ 1,517,594
Transtar
Business Acquisition [Line Items]
Property, plant, and equipment, net	$ 488,233
Transtar | Railcars and locomotives
Business Acquisition [Line Items]
Property, plant, and equipment, net	111,359
Transtar | Track and track related assets
Business Acquisition [Line Items]
Property, plant, and equipment, net	90,904
Transtar | Land, site improvements and rights
Business Acquisition [Line Items]
Property, plant, and equipment, net	87,450
Transtar | Bridges and tunnels
Business Acquisition [Line Items]
Property, plant, and equipment, net	174,183
Transtar | Buildings and improvements
Business Acquisition [Line Items]
Property, plant, and equipment, net	12,448
Transtar | Railroad equipment
Business Acquisition [Line Items]
Property, plant, and equipment, net	2,725
Transtar | Terminal machinery and equipment
Business Acquisition [Line Items]
Property, plant, and equipment, net	3,325
Transtar | Vehicles
Business Acquisition [Line Items]
Property, plant, and equipment, net	3,740
Transtar | Construction in progress
Business Acquisition [Line Items]
Property, plant, and equipment, net	1,928
Transtar | Computer hardware and software
Business Acquisition [Line Items]
Property, plant, and equipment, net	$ 171
Minimum | Railcars and locomotives
Business Acquisition [Line Items]
Useful life		40 years
Minimum | Track and track related assets
Business Acquisition [Line Items]
Useful life		15 years
Minimum | Railroad equipment
Business Acquisition [Line Items]
Useful life		3 years
Minimum | Terminal machinery and equipment
Business Acquisition [Line Items]
Useful life		15 years
Minimum | Vehicles
Business Acquisition [Line Items]
Useful life		5 years
Minimum | Computer hardware and software
Business Acquisition [Line Items]
Useful life		2 years
Minimum | Transtar | Railcars and locomotives
Business Acquisition [Line Items]
Useful life	1 year
Minimum | Transtar | Track and track related assets
Business Acquisition [Line Items]
Useful life	1 year
Minimum | Transtar | Bridges and tunnels
Business Acquisition [Line Items]
Useful life	15 years
Minimum | Transtar | Buildings and improvements
Business Acquisition [Line Items]
Useful life	3 years
Minimum | Transtar | Railroad equipment
Business Acquisition [Line Items]
Useful life	2 years
Minimum | Transtar | Terminal machinery and equipment
Business Acquisition [Line Items]
Useful life	2 years
Minimum | Transtar | Vehicles
Business Acquisition [Line Items]
Useful life	2 years
Minimum | Transtar | Computer hardware and software
Business Acquisition [Line Items]
Useful life	2 years
Maximum | Railcars and locomotives
Business Acquisition [Line Items]
Useful life		50 years
Maximum | Track and track related assets
Business Acquisition [Line Items]
Useful life		50 years
Maximum | Railroad equipment
Business Acquisition [Line Items]
Useful life		15 years
Maximum | Terminal machinery and equipment
Business Acquisition [Line Items]
Useful life		25 years
Maximum | Vehicles
Business Acquisition [Line Items]
Useful life		7 years
Maximum | Computer hardware and software
Business Acquisition [Line Items]
Useful life		5 years
Maximum | Transtar | Railcars and locomotives
Business Acquisition [Line Items]
Useful life	40 years
Maximum | Transtar | Track and track related assets
Business Acquisition [Line Items]
Useful life	40 years
Maximum | Transtar | Bridges and tunnels
Business Acquisition [Line Items]
Useful life	55 years
Maximum | Transtar | Buildings and improvements
Business Acquisition [Line Items]
Useful life	25 years
Maximum | Transtar | Railroad equipment
Business Acquisition [Line Items]
Useful life	15 years
Maximum | Transtar | Terminal machinery and equipment
Business Acquisition [Line Items]
Useful life	15 years
Maximum | Transtar | Vehicles
Business Acquisition [Line Items]
Useful life	5 years
Maximum | Transtar | Computer hardware and software
Business Acquisition [Line Items]
Useful life	5 years

ACQUISITION OF TRANSTAR, LLC._5

ACQUISITION OF TRANSTAR, LLC. - Pro Forma Information (Details) - Transtar - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2021
Business Acquisition [Line Items]
Total revenue	$ 49,980	$ 105,158
Net loss attributable to Parent	$ (13,362)	$ (12,486)

LEASING EQUIPMENT, NET (Details

LEASING EQUIPMENT, NET (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Leases [Line Items]
Leasing equipment, net	$ 35,459		$ 35,459		$ 36,012
Leasing Equipment
Leases [Line Items]
Leasing equipment	44,179		44,179		44,179
Less: Accumulated depreciation	(8,720)		(8,720)		(8,167)
Leasing equipment, net	35,459		35,459		$ 36,012
Depreciation expense for leasing equipment	$ 276	$ 276	$ 552	$ 552

PROPERTY, PLANT AND EQUIPMENT_3

PROPERTY, PLANT AND EQUIPMENT, NET (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 1,773,051	$ 1,661,615
Less: Accumulated depreciation	(174,069)	(144,021)
Property, plant and equipment, net	1,598,982	1,517,594
Land, site improvements and rights
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	168,786	149,914
Construction in progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	202,020	118,081
Bridges and tunnels
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	174,155	174,889
Buildings and improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	19,297	19,164
Terminal machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	972,123	962,552
Track and track related assets
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	100,067	100,014
Railroad equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	8,364	8,331
Railcars and locomotives
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	105,614	111,574
Computer hardware and software
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	10,635	5,335
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	1,745	1,745
Vehicles
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 10,245	$ 10,016

PROPERTY, PLANT AND EQUIPMENT_4

PROPERTY, PLANT AND EQUIPMENT, NET - Narrative (Details) $ in Millions	6 Months Ended
	Jun. 30, 2022 USD ($)
Property, Plant and Equipment [Abstract]
Property, plant and equipment acquired	$ 111.4

PROPERTY, PLANT AND EQUIPMENT_5

PROPERTY, PLANT AND EQUIPMENT, NET - Depreciation (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Depreciation expense for property, plant and equipment:
Depreciation expense	$ 15,158	$ 10,521	$ 30,003	$ 19,440

INVESTMENTS - Ownership Carryin

INVESTMENTS - Ownership Carrying Values (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Nov. 30, 2021	Jul. 31, 2020	Dec. 31, 2012
Schedule of Equity Method Investments [Line Items]
Carrying Value	$ 76,905		$ 54,408
Intermodal Finance I, Ltd.
Schedule of Equity Method Investments [Line Items]
Ownership percentage	51%					51%
Carrying Value	$ 0		0
Long Ridge Terminal LLC
Schedule of Equity Method Investments [Line Items]
Ownership percentage	50%
Carrying Value	$ 0		0
Long Ridge Terminal LLC | Other Liabilities
Schedule of Equity Method Investments [Line Items]
Carrying Value		$ 188,000	$ 17,500
FYX Trust Holdco LLC
Schedule of Equity Method Investments [Line Items]
Ownership percentage	65%		14%		14%
Carrying Value	$ 0		$ 1,255		$ 1,300
GM-FTAI Holdco LLC
Schedule of Equity Method Investments [Line Items]
Ownership percentage	27%
Carrying Value	$ 72,475		52,295
Clean Planet Energy USA LLC
Schedule of Equity Method Investments [Line Items]
Ownership percentage	50%			50%
Carrying Value	$ 4,430		$ 858

INVESTMENTS - Share of Equity o

INVESTMENTS - Share of Equity of Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Schedule of Equity Method Investments [Line Items]
Income (loss)	$ (13,859)	$ (6,811)	$ (35,902)	$ (7,264)
Intermodal Finance I, Ltd.
Schedule of Equity Method Investments [Line Items]
Income (loss)	44	204	88	376
Long Ridge Terminal LLC
Schedule of Equity Method Investments [Line Items]
Income (loss)	(12,971)	(7,015)	(34,352)	(7,640)
GM-FTAI Holdco LLC
Schedule of Equity Method Investments [Line Items]
Income (loss)	(688)	0	(1,121)	0
Clean Planet Energy USA LLC
Schedule of Equity Method Investments [Line Items]
Income (loss)	$ (244)	$ 0	$ (517)	$ 0

INVESTMENTS - Narrative (Detail

INVESTMENTS - Narrative (Details) $ in Thousands	1 Months Ended				2 Months Ended	3 Months Ended				6 Months Ended		12 Months Ended
	May 31, 2022 USD ($)	Nov. 30, 2021 USD ($)	Sep. 30, 2021 USD ($)	Dec. 31, 2019 USD ($)	Jun. 30, 2022 USD ($) shippingContainer	Jun. 30, 2022 USD ($) shippingContainer	Mar. 31, 2022 USD ($)	Jun. 30, 2021 USD ($)	Mar. 31, 2021 USD ($)	Jun. 30, 2022 USD ($) shippingContainer	Jun. 30, 2021 USD ($)	Dec. 31, 2012	Jun. 15, 2022	Dec. 31, 2021 USD ($)	Jul. 31, 2020 USD ($)
Schedule of Equity Method Investments [Line Items]
Existing substantive participation rights percentage												49%
Carrying value					$ 76,905	$ 76,905				$ 76,905				$ 54,408
Net loss						(37,960)	$ (50,288)	$ (32,060)	$ (14,290)	(88,248)	$ (46,349)
Non-controlling interest					(10,756)	(10,756)				(10,756)				(91)
Total assets					2,560,228	2,560,228				2,560,228				2,442,301
Total liabilities					1,214,415	1,214,415				1,214,415				980,255
Goodwill					262,819	262,819				262,819				257,137
Total revenues						65,868		15,344		112,016	35,886
Equity Method Investment, Nonconsolidated Investee or Group of Investees
Schedule of Equity Method Investments [Line Items]
Net loss						(25,892)		(14,001)		(68,566)	(10,925)
Total assets					951,772	951,772				951,772				926,675
Total liabilities					1,327,068	1,327,068				1,327,068				961,661
Goodwill					89,390	89,390				89,390				89,390
Total revenues					$ 10,100	$ 19,801		$ 8,849		$ 15,043	$ 17,270
Intermodal Finance I, Ltd.
Schedule of Equity Method Investments [Line Items]
Ownership percentage					51%	51%				51%		51%
Number of components owned in portfolio | shippingContainer					500	500				500
Carrying value					$ 0	$ 0				$ 0				0
Long Ridge Terminal LLC
Schedule of Equity Method Investments [Line Items]
Ownership percentage					50%	50%				50%
Ownership percentage sold				49.90%
Proceeds from sale of equity method investments				$ 150,000
Carrying value					$ 0	$ 0				$ 0				0
GM-FTAI Holdco LLC
Schedule of Equity Method Investments [Line Items]
Ownership percentage					27%	27%				27%
Payments to acquire equity method investments			$ 52,500
Carrying value					$ 72,475	$ 72,475				$ 72,475				52,295
GM-FTAI Holdco LLC | Class A
Schedule of Equity Method Investments [Line Items]
Ownership percentage			1%
Increase in ownership percentage from exchange of share													20%
Increase in ownership percentage from debt termination													8.50%
GM-FTAI Holdco LLC | Class A | Gladieux Metals Recycling (“GMR”)
Schedule of Equity Method Investments [Line Items]
Ownership percentage			1%
GM-FTAI Holdco LLC | Class B
Schedule of Equity Method Investments [Line Items]
Ownership percentage			50%
GM-FTAI Holdco LLC | Class B | Aleon Renewable Metals LLC (“Aleon”)
Schedule of Equity Method Investments [Line Items]
Ownership percentage			50%
Gladieux Metals Recycling (“GMR”) | GM-FTAI Holdco LLC
Schedule of Equity Method Investments [Line Items]
Ownership percentage			100%		100%	100%				100%
Aleon Renewable Metals LLC (“Aleon”) | GM-FTAI Holdco LLC
Schedule of Equity Method Investments [Line Items]
Ownership percentage			100%		100%	100%				100%
Clean Planet Energy USA LLC
Schedule of Equity Method Investments [Line Items]
Ownership percentage		50%			50%	50%				50%
Payments to acquire equity method investments		$ 1,000
Carrying value					$ 4,430	$ 4,430				$ 4,430				$ 858
FYX Trust Holdco LLC
Schedule of Equity Method Investments [Line Items]
Ownership percentage					65%	65%				65%				14%	14%
Payments to acquire equity method investments	$ 4,600
Carrying value					$ 0	$ 0				$ 0				$ 1,255	$ 1,300
Equity method investment, additional percentage acquired	51%
Non-controlling interest					4,200	$ 4,200				$ 4,200
FYX Trust Holdco LLC | Equity Method Investment, Nonconsolidated Investee or Group of Investees
Schedule of Equity Method Investments [Line Items]
Net loss					$ (400)
Total assets	$ 13,700
Total liabilities	10,100
Goodwill	$ 5,400

INVESTMENTS - Equity Method Inv

INVESTMENTS - Equity Method Investment (Details) - USD ($) $ in Thousands	2 Months Ended	3 Months Ended				6 Months Ended
	Jun. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Assets
Cash and cash equivalents	$ 68,469	$ 68,469				$ 68,469		$ 49,872
Restricted cash	177,951	177,951				177,951		251,983
Accounts receivable, net	88,573	88,573				88,573		50,301
Other current assets	92,598	92,598				92,598		60,828
Total current assets	427,591	427,591				427,591		412,984
Property, plant, and equipment, net	1,598,982	1,598,982				1,598,982		1,517,594
Intangible assets	63,977	63,977				63,977		67,737
Goodwill	262,819	262,819				262,819		257,137
Other assets	24,347	24,347				24,347		24,882
Total assets	2,560,228	2,560,228				2,560,228		2,442,301
Liabilities
Accounts payable and accrued liabilities	162,096	162,096				162,096		115,634
Debt, net	729,410	729,410				729,410		718,624
Other current liabilities	9,822	9,822				9,822		10,934
Total current liabilities	174,891	174,891				174,891		129,467
Debt, net	729,410	729,410				729,410		718,624
Total liabilities	1,214,415	1,214,415				1,214,415		980,255
Members' Equity
Total liabilities and equity	2,560,228	2,560,228				2,560,228		2,442,301
Income Statement [Abstract]
Total revenues		65,868		$ 15,344		112,016	$ 35,886
Operating expenses		49,229		17,309		87,297	34,118
Depreciation and amortization		17,319		11,686		34,315	21,769
Interest expense		6,486		3,529		12,945	5,012
Total expenses		80,983		37,003		146,874	70,485
Total other expense		(20,898)		(11,116)		(49,859)	(12,871)
Net loss		(37,960)	$ (50,288)	(32,060)	$ (14,290)	(88,248)	(46,349)
Equity Method Investment, Nonconsolidated Investee or Group of Investees
Assets
Cash and cash equivalents	2,470	2,470				2,470		2,932
Restricted cash	25,096	25,096				25,096		32,469
Accounts receivable, net	24,876	24,876				24,876		17,896
Other current assets	8,089	8,089				8,089		8,857
Total current assets	60,531	60,531				60,531		62,154
Property, plant, and equipment, net	788,215	788,215				788,215		764,607
Intangible assets	4,750	4,750				4,750		4,940
Goodwill	89,390	89,390				89,390		89,390
Other assets	8,886	8,886				8,886		5,584
Total assets	951,772	951,772				951,772		926,675
Liabilities
Accounts payable and accrued liabilities	46,338	46,338				46,338		16,121
Debt, net	4,433	4,433				4,433		0
Derivative liabilities	183,555	183,555				183,555		47,369
Other current liabilities	148	148				148		257
Total current liabilities	234,474	234,474				234,474		63,747
Debt, net	601,741	601,741				601,741		604,261
Derivative liabilities	488,022	488,022				488,022		291,664
Other liabilities	2,831	2,831				2,831		1,989
Total liabilities	1,327,068	1,327,068				1,327,068		961,661
Members' Equity
Shareholders' equity	(272,779)	(272,779)				(272,779)		(1,035)
Accumulated deficit	(102,517)	(102,517)				(102,517)		(33,951)
Total members' equity	(375,296)	(375,296)				(375,296)		(34,986)
Total liabilities and equity	951,772	951,772				951,772		$ 926,675
Income Statement [Abstract]
Total revenues	$ 10,100	19,801		8,849		15,043	17,270
Operating expenses		19,909		6,715		32,356	10,987
Depreciation and amortization		12,454		3,683		24,998	7,436
Interest expense		13,181		627		26,042	946
Total expenses		45,544		11,025		83,396	19,369
Total other expense		(149)		(11,825)		(213)	(8,826)
Net loss		$ (25,892)		$ (14,001)		$ (68,566)	$ (10,925)

INTANGIBLE ASSETS, NET - Summar

INTANGIBLE ASSETS, NET - Summarized Intangible Assets and Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Intangible assets:
Intangible assets	$ 95,513	$ 95,513
Less: Accumulated amortization	(31,536)	(27,776)
Intangible assets, net	63,977	67,737
Jefferson Terminal
Intangible assets:
Intangible assets	35,513	35,513
Less: Accumulated amortization	(27,814)	(26,038)
Intangible assets, net	7,699	9,475
Transtar
Intangible assets:
Intangible assets	60,000	60,000
Less: Accumulated amortization	(3,722)	(1,738)
Intangible assets, net	$ 56,278	$ 58,262

INTANGIBLE ASSETS, NET - Intang

INTANGIBLE ASSETS, NET - Intangible Liabilities Amortization (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Depreciation and amortization
Finite-Lived Intangible Assets [Line Items]
Depreciation and amortization	$ 1,885	$ 889	$ 3,760	$ 1,777

INTANGIBLE ASSETS, NET - Schedu

INTANGIBLE ASSETS, NET - Schedule of Future Amortization Expense (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Remainder of 2022	$ 3,776
2023	7,551
2024	6,131
2025	4,000
2026	4,000
Thereafter	38,519
Intangible assets, net	$ 63,977	$ 67,737

DEBT, NET - Schedule of Debt (D

DEBT, NET - Schedule of Debt (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Debt	$ 749,530	$ 749,530	$ 740,080
Less: Debt issuance costs	(20,120)	(20,120)	(21,456)
Total debt, net	729,410	729,410	718,624
Total debt due within one year	0	0	0
Loans payable
Debt Instrument [Line Items]
Debt	60,550	60,550	51,100
Loans payable | DRP Revolver
Debt Instrument [Line Items]
Debt	$ 25,000	$ 25,000	25,000
Basis spread		2.75%
Quarterly commitment fee rate	1%
Loans payable | EB-5 Loan Agreement
Debt Instrument [Line Items]
Debt	$ 35,550	$ 35,550	26,100
Stated percentage	5.75%	5.75%
Bonds payable
Debt Instrument [Line Items]
Debt	$ 688,980	$ 688,980	688,980
Bonds payable | Series 2020 Bonds
Debt Instrument [Line Items]
Debt	$ 263,980	$ 263,980	263,980
Bonds payable | Series 2020 Bonds Due 2035
Debt Instrument [Line Items]
Stated percentage	3.625%	3.625%
Bonds payable | Series 2020 Bonds Due 2050
Debt Instrument [Line Items]
Stated percentage	4%	4%
Bonds payable | Series 2020 Bonds Due 2025
Debt Instrument [Line Items]
Stated percentage	6%	6%
Bonds payable | Series 2021 Bonds
Debt Instrument [Line Items]
Debt	$ 425,000	$ 425,000	$ 425,000
Bonds payable | Series 2021A Bonds Due 2026 Through 2041
Debt Instrument [Line Items]
Stated percentage	1.875%	1.875%
Bonds payable | Series 2021A Bonds Due 2050
Debt Instrument [Line Items]
Stated percentage	3%	3%
Bonds payable | Series 2021B Bonds
Debt Instrument [Line Items]
Stated percentage	4.10%	4.10%
Eurodollar | Loans payable | DRP Revolver
Debt Instrument [Line Items]
Basis spread		3.75%

FAIR VALUE MEASUREMENTS - Finan

FAIR VALUE MEASUREMENTS - Financial Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Assets
Total assets	$ 247,168	$ 304,075
Level 1
Assets
Total assets	246,420	301,855
Level 2
Assets
Total assets	748	2,220
Level 3
Assets
Total assets	0	0
Market
Assets
Cash and cash equivalents	68,469	49,872
Restricted cash	177,951	251,983
Market | Level 1
Assets
Cash and cash equivalents	68,469	49,872
Restricted cash	177,951	251,983
Market | Level 2
Assets
Cash and cash equivalents	0	0
Restricted cash	0	0
Market | Level 3
Assets
Cash and cash equivalents	0	0
Restricted cash	0	0
Income
Assets
Derivative assets	748	2,220
Income | Level 1
Assets
Derivative assets	0	0
Income | Level 2
Assets
Derivative assets	748	2,220
Income | Level 3
Assets
Derivative assets	$ 0	$ 0

FAIR VALUE MEASUREMENTS (Fair V

FAIR VALUE MEASUREMENTS (Fair Value by Balance Sheet Grouping) (Details) - Estimate of Fair Value Measurement - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Series A 2020 Bonds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes payable, fair value disclosure	$ 143,857	$ 189,773
Series B 2020 Bonds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes payable, fair value disclosure	80,014	81,637
Series A 2021 Bonds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes payable, fair value disclosure	161,095	222,023
Series B 2021 Bonds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes payable, fair value disclosure	$ 177,616	$ 194,278

DERIVATIVE FINANCIAL INSTRUME_3

DERIVATIVE FINANCIAL INSTRUMENTS - Schedule of Derivative Instruments (Details) - Natural Gas Liquids bbl in Thousands, $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2022 USD ($) bbl	Dec. 31, 2021 USD ($) bbl
Derivatives, Fair Value [Line Items]
Notional Amount (BBL in thousands) | bbl	1,432	244
Fair Value of Assets | $	$ 748	$ 2,220
Minimum
Derivatives, Fair Value [Line Items]
Remaining term	1 month	1 month
Maximum
Derivatives, Fair Value [Line Items]
Remaining term	9 months	3 months

REVENUES - Components of Revenu

REVENUES - Components of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Disaggregation of Revenue [Line Items]
Total revenues	$ 65,868	$ 15,344	$ 112,016	$ 35,886
Corporate and Other
Disaggregation of Revenue [Line Items]
Total revenues	11,640	1,474	12,658	3,201
Lease income
Disaggregation of Revenue [Line Items]
Total revenues	867	432	1,707	862
Rail revenues
Disaggregation of Revenue [Line Items]
Total revenues	37,507		71,175
Terminal services revenues
Disaggregation of Revenue [Line Items]
Total revenues	14,227	11,120	27,011	21,541
Other revenue
Disaggregation of Revenue [Line Items]
Total revenues	13,267	3,792	12,123	13,483
Jefferson Terminal
Disaggregation of Revenue [Line Items]
Total revenues	14,528	11,527	27,574	22,246
Jefferson Terminal | Lease income
Disaggregation of Revenue [Line Items]
Total revenues	314	432	666	862
Jefferson Terminal | Terminal services revenues
Disaggregation of Revenue [Line Items]
Total revenues	14,214	11,095	26,908	21,384
Ports and Terminals
Disaggregation of Revenue [Line Items]
Total revenues	1,640	2,343	(346)	10,440
Ports and Terminals | Terminal services revenues
Disaggregation of Revenue [Line Items]
Total revenues	13	25	103	157
Ports and Terminals | Other revenue
Disaggregation of Revenue [Line Items]
Total revenues	1,627	2,318	(535)	10,283
Transtar
Disaggregation of Revenue [Line Items]
Total revenues	38,060		72,130
Transtar | Lease income
Disaggregation of Revenue [Line Items]
Total revenues	553		1,041
Transtar | Rail revenues
Disaggregation of Revenue [Line Items]
Total revenues	37,507		71,089
Corporate and Other | Corporate and Other
Disaggregation of Revenue [Line Items]
Total revenues	11,640	1,474	12,658	$ 3,200
Corporate and Other | Other revenue
Disaggregation of Revenue [Line Items]
Total revenues	$ 11,640
Corporate and Other | Other revenue | Corporate and Other
Disaggregation of Revenue [Line Items]
Total revenues		$ 1,474	$ 12,658

REVENUES - Minimum Future Annua

REVENUES - Minimum Future Annual Revenues (Details) $ in Thousands	Jun. 30, 2022 USD ($)
Operating Leases
Remainder of 2022	$ 6,173
2023	4,168
2024	459
2025	459
2026	421
Thereafter	0
Total	$ 11,680

LEASES - Narrative (Details)

LEASES - Narrative (Details)	6 Months Ended
	Jun. 30, 2022
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease term	1 month
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease term	40 years

LEASES - Lease Cost (Details)

LEASES - Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Leases [Abstract]
Amortization of right-of-use assets	$ 222	$ 0	$ 431	$ 0
Interest on lease liabilities	14	0	29	0
Finance lease expense	236	0	460	0
Operating lease expense	1,627	1,257	3,420	2,397
Short-term lease expense	721	328	1,112	375
Variable lease expense	717	426	1,582	637
Total lease expense	$ 3,301	$ 2,011	$ 6,574	$ 3,409

LEASES - Supplemental Informati

LEASES - Supplemental Information Related to Leases (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Leases [Abstract]
Right-of-use assets, net	$ 70,148	$ 71,547
Lease liabilities	$ 69,139
Weighted average remaining lease term	34 years 9 months 18 days
Weighted average incremental borrowing rate	5.70%
Cash paid for amounts included in the measurement of operating lease liabilities	$ 3,505

LEASES - Future Payments (Detai

LEASES - Future Payments (Details) $ in Thousands	Jun. 30, 2022 USD ($)
Operating leases
Remainder of 2022	$ 3,544
2023	6,747
2024	6,176
2025	5,854
2026	5,256
Thereafter	142,878
Total undiscounted lease payments	170,455
Less: Imputed interest	101,316
Total lease liabilities	$ 69,139

EQUITY-BASED COMPENSATION - Exp

EQUITY-BASED COMPENSATION - Expenses Related to Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation	$ 956	$ 1,439	$ 1,665	$ 2,553
Remaining Expense To Be Recognized, If All Vesting Conditions Are Met	6,882		6,882
Restricted Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation	538	1,270	1,076	2,111
Remaining Expense To Be Recognized, If All Vesting Conditions Are Met	2,655		$ 2,655
Weighted Average Remaining Contractual Term (in years)			9 months 18 days
Common Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation	418	$ 169	$ 589	$ 442
Remaining Expense To Be Recognized, If All Vesting Conditions Are Met	$ 4,227		$ 4,227
Weighted Average Remaining Contractual Term (in years)			1 year 2 months 12 days

EQUITY-BASED COMPENSATION (Narr

EQUITY-BASED COMPENSATION (Narrative) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2022 USD ($)
Common Unit, Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant date fair value of share issued	$ 1,900
Vesting period	3 years
Common Unit, Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant date fair value of share issued	$ 1,900
Vesting period	3 years

RETIREMENT BENEFIT PLAN - Sched

RETIREMENT BENEFIT PLAN - Schedule of Costs of Retirement Plans (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2022
Pension Benefits
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service costs	$ 438	$ 876
Interest costs	74	148
Total	512	1,024
Postretirement Benefits
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service costs	538	1,075
Interest costs	225	450
Total	$ 763	$ 1,525

RETIREMENT BENEFIT PLAN - Narra

RETIREMENT BENEFIT PLAN - Narrative (Details) $ in Millions	6 Months Ended
	Jun. 30, 2022 USD ($)
Retirement Benefits [Abstract]
Employer contributions	$ 0.3
Expected future employer contributions, current year	$ 1.2

INCOME TAXES - Components of In

INCOME TAXES - Components of Income Tax Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Current:
Federal	$ 62	$ 1	$ 62	$ 1
State and local	71	60	142	116
Foreign	0	0	0	0
Total current provision	133	61	204	117
Deferred:
Federal	1,549	(774)	2,607	(1,236)
State and local	265	0	720	0
Foreign	0	(2)	0	(2)
Total deferred provision	1,814	(776)	3,327	(1,238)
Provision for income taxes	$ 1,947	$ (715)	$ 3,531	$ (1,121)

MANAGEMENT AGREEMENT AND AFFI_3

MANAGEMENT AGREEMENT AND AFFILIATE TRANSACTIONS (Details) - USD ($)	1 Months Ended	3 Months Ended		6 Months Ended
	May 31, 2022	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021	Jul. 31, 2020
Related Party Transaction [Line Items]
Management fees and incentive allocation to affiliate		$ 3,065,000	$ 3,817,000	$ 7,226,000	$ 7,415,000
Sale of stock, purchase option, percentage of common shares sold				10%
Sale of stock, purchase option, percentage of gross capital in equity issuance				10%
Non-controlling interest		(10,756,000)		$ (10,756,000)		$ (91,000)
Non-controlling interest share of net loss		(8,480,000)	(6,625,000)	(15,946,000)	(11,586,000)
FYX Trust Holdco LLC
Related Party Transaction [Line Items]
Non-controlling interest		$ 4,200,000		$ 4,200,000
Ownership percentage		65%		65%		14%	14%
Equity method investment, additional percentage acquired	51%
Payments to acquire equity method investments	$ 4,600,000
Jefferson Terminal
Related Party Transaction [Line Items]
Non-controlling interest ownership percentage		20%		20%		20%
Non-controlling interest		$ (24,300,000)		$ (24,300,000)		$ (9,100,000)
Non-controlling interest share of net loss		(8,135,000)	(6,538,000)	$ (15,271,000)	(11,554,000)
Manager
Related Party Transaction [Line Items]
Management fee percentage rate				1.50%
Manager | Management fees
Related Party Transaction [Line Items]
Due from related party		$ 0		$ 0		0
Fortress Worldwide Transportation and Infrastructure Master GP LLP
Related Party Transaction [Line Items]
Capital gains allocation percentage		10%		10%
General Partner
Related Party Transaction [Line Items]
Management fees and incentive allocation to affiliate		$ 3,065,000	3,817,000	$ 7,226,000	7,415,000
Management fees and incentive allocation to affiliate		1,536,000	3,411,000	3,078,000	4,953,000
General Partner | Management fees
Related Party Transaction [Line Items]
Management fees and incentive allocation to affiliate		3,065,000	3,817,000	7,226,000	7,415,000
General Partner | Income incentive allocation
Related Party Transaction [Line Items]
Management fees and incentive allocation to affiliate		0	0	0	0
General Partner | Capital gains incentive allocation
Related Party Transaction [Line Items]
Management fees and incentive allocation to affiliate		0	0	0	0
General Partner | General and administrative
Related Party Transaction [Line Items]
Management fees and incentive allocation to affiliate		1,098,000	785,000	2,228,000	1,915,000
General Partner | Acquisition and transaction expenses
Related Party Transaction [Line Items]
Management fees and incentive allocation to affiliate		438,000	$ 2,626,000	850,000	$ 3,038,000
Accounts Payable and Accrued Liabilities | Manager
Related Party Transaction [Line Items]
Accrued management fees		929,000		929,000		1,495,000
Other payables		$ 510,000		$ 510,000		$ 1,075,000
Threshold 1 | Fortress Worldwide Transportation and Infrastructure Master GP LLP | Income incentive allocation
Related Party Transaction [Line Items]
Pre-incentive income allocation				0%
Annual percent threshold of pre-incentive allocation net income				8%
Threshold 2 | Fortress Worldwide Transportation and Infrastructure Master GP LLP | Income incentive allocation
Related Party Transaction [Line Items]
Pre-incentive income allocation				100%
Threshold 2 | Fortress Worldwide Transportation and Infrastructure Master GP LLP | Income incentive allocation | Minimum
Related Party Transaction [Line Items]
Quarterly percent threshold of pre-incentive allocation net income				2%
Threshold 2 | Fortress Worldwide Transportation and Infrastructure Master GP LLP | Income incentive allocation | Maximum
Related Party Transaction [Line Items]
Quarterly percent threshold of pre-incentive allocation net income				2.2223%
Threshold 3 | Fortress Worldwide Transportation and Infrastructure Master GP LLP | Income incentive allocation
Related Party Transaction [Line Items]
Pre-incentive income allocation				10%

SEGMENT INFORMATION - Narrative

SEGMENT INFORMATION - Narrative (Details)	6 Months Ended
	Jun. 30, 2022 a freightRailroad	Jun. 30, 2022 a segment	Jun. 30, 2022 a switchingCompany
Segment Reporting Information [Line Items]
Number of reportable segments | segment		3
Transtar
Segment Reporting Information [Line Items]
Number of segment components	5		1
Repauno
Segment Reporting Information [Line Items]
Area of real estate	1,630	1,630	1,630
Long Ridge Terminal LLC
Segment Reporting Information [Line Items]
Area of real estate	1,660	1,660	1,660

SEGMENT INFORMATION - Statement

SEGMENT INFORMATION - Statement of Income by Segment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Revenues
Total revenues	$ 65,868	$ 15,344	$ 112,016	$ 35,886
Expenses
Operating expenses	49,229	17,309	87,297	34,118
General and administrative	2,498	1,631	4,928	3,665
Acquisition and transaction expenses	8,872	2,560	13,108	3,518
Management fees and incentive allocation to affiliate	3,065	3,817	7,226	7,415
Depreciation and amortization	17,319	11,686	34,315	21,769
Total expenses	80,983	37,003	146,874	70,485
Other income (expense)
Equity in losses of unconsolidated entities	(13,859)	(6,811)	(35,902)	(7,264)
Gain (loss) on sale of assets, net	0	16	0	16
Interest expense	(6,486)	(3,529)	(12,945)	(5,012)
Other (expense) income	(553)	(792)	(1,012)	(611)
Total other expense	(20,898)	(11,116)	(49,859)	(12,871)
Income (loss) before income taxes	(36,013)	(32,775)	(84,717)	(47,470)
Provision for (benefit from) income taxes	1,947	(715)	3,531	(1,121)
Net income (loss)	(37,960)	(32,060)	(88,248)	(46,349)
Less: Net loss attributable to non-controlling interests in consolidated subsidiaries	(8,480)	(6,625)	(15,946)	(11,586)
Net income (loss) attributable to shareholders	(29,480)	(25,435)	(72,302)	(34,763)
Corporate and Other
Revenues
Total revenues	11,640	1,474	12,658	3,201
Expenses
Operating expenses	11,488	1,704	13,487	3,690
General and administrative	2,498	1,631	4,928	3,665
Acquisition and transaction expenses	8,723	2,560	12,753	3,518
Management fees and incentive allocation to affiliate	3,065	3,817	7,226	7,415
Depreciation and amortization	508	155	676	309
Total expenses	26,282	9,867	39,070	18,597
Other income (expense)
Equity in losses of unconsolidated entities	(888)	2,372	(1,550)	377
Gain (loss) on sale of assets, net		0		0
Interest expense	(3)	(21)	(5)	(22)
Other (expense) income	1,043	3	1,043	3
Total other expense	152	2,354	(512)	358
Income (loss) before income taxes	(14,490)	(6,039)	(26,924)	(15,038)
Provision for (benefit from) income taxes	61	0	61	0
Net income (loss)	(14,551)	(6,039)	(26,985)	(15,038)
Less: Net loss attributable to non-controlling interests in consolidated subsidiaries	(25)	0	(25)	0
Net income (loss) attributable to shareholders	(14,526)	(6,039)	(26,960)	(15,038)
Jefferson Terminal
Revenues
Total revenues	14,528	11,527	27,574	22,246
Jefferson Terminal | Operating Segments
Revenues
Total revenues	14,528	11,527	27,574	22,246
Expenses
Operating expenses	14,261	11,777	27,384	23,498
General and administrative	0	0	0	0
Acquisition and transaction expenses	0	0	0	0
Management fees and incentive allocation to affiliate	0	0	0	0
Depreciation and amortization	9,739	9,315	19,439	17,033
Total expenses	24,000	21,092	46,823	40,531
Other income (expense)
Equity in losses of unconsolidated entities	0	0	0	0
Gain (loss) on sale of assets, net		0		0
Interest expense	(6,127)	(3,213)	(12,237)	(4,416)
Other (expense) income	(1,291)	(886)	(1,390)	(705)
Total other expense	(7,418)	(4,099)	(13,627)	(5,121)
Income (loss) before income taxes	(16,890)	(13,664)	(32,876)	(23,406)
Provision for (benefit from) income taxes	68	59	137	115
Net income (loss)	(16,958)	(13,723)	(33,013)	(23,521)
Less: Net loss attributable to non-controlling interests in consolidated subsidiaries	(8,135)	(6,538)	(15,271)	(11,554)
Net income (loss) attributable to shareholders	(8,823)	(7,185)	(17,742)	(11,967)
Ports and Terminals
Revenues
Total revenues	1,640	2,343	(346)	10,440
Ports and Terminals | Operating Segments
Revenues
Total revenues	1,640	2,343	(346)	10,439
Expenses
Operating expenses	4,283	3,828	8,166	6,930
General and administrative	0	0	0	0
Acquisition and transaction expenses	0	0	0	0
Management fees and incentive allocation to affiliate	0	0	0	0
Depreciation and amortization	2,376	2,216	4,745	4,427
Total expenses	6,659	6,044	12,911	11,357
Other income (expense)
Equity in losses of unconsolidated entities	(12,971)	(9,183)	(34,352)	(7,641)
Gain (loss) on sale of assets, net		16		16
Interest expense	(341)	(295)	(628)	(574)
Other (expense) income	0	91	0	91
Total other expense	(13,312)	(9,371)	(34,980)	(8,108)
Income (loss) before income taxes	(18,331)	(13,072)	(48,237)	(9,026)
Provision for (benefit from) income taxes	0	(774)	0	(1,236)
Net income (loss)	(18,331)	(12,298)	(48,237)	(7,790)
Less: Net loss attributable to non-controlling interests in consolidated subsidiaries	(320)	(87)	(650)	(32)
Net income (loss) attributable to shareholders	(18,011)	(12,211)	(47,587)	(7,758)
Transtar
Revenues
Total revenues	38,060		72,130
Transtar | Operating Segments
Revenues
Total revenues	38,060	0	72,130	0
Expenses
Operating expenses	19,197	0	38,260	0
General and administrative	0	0	0	0
Acquisition and transaction expenses	149	0	355	0
Management fees and incentive allocation to affiliate	0	0	0	0
Depreciation and amortization	4,696	0	9,455	0
Total expenses	24,042	0	48,070	0
Other income (expense)
Equity in losses of unconsolidated entities	0	0	0	0
Gain (loss) on sale of assets, net		0		0
Interest expense	(15)	0	(75)	0
Other (expense) income	(305)	0	(665)	0
Total other expense	(320)	0	(740)	0
Income (loss) before income taxes	13,698	0	23,320	0
Provision for (benefit from) income taxes	1,818	0	3,333	0
Net income (loss)	11,880	0	19,987	0
Less: Net loss attributable to non-controlling interests in consolidated subsidiaries	0	0	0	0
Net income (loss) attributable to shareholders	$ 11,880	$ 0	$ 19,987	$ 0

SEGMENT INFORMATION - Reconcili

SEGMENT INFORMATION - Reconciliation of Adjusted Net Income to Net Income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Segment Reporting Information [Line Items]
Adjusted EBITDA	$ 21,554	$ (1,766)	$ 33,116	$ (4,642)
Add: Non-controlling share of Adjusted EBITDA	3,716	3,257	7,532	5,286
Equity in losses of unconsolidated entities	(13,859)	(6,811)	(35,902)	(7,264)
Less: Pro-rata share of Adjusted EBITDA from unconsolidated entities	(6,825)	(225)	(12,232)	(2,985)
Less: Interest expense	(6,486)	(3,529)	(12,945)	(5,012)
Less: Depreciation and amortization expense	(17,319)	(11,686)	(34,315)	(21,769)
Less: Incentive allocations	0	0	0	0
Less: Asset impairment charges	0	0	0	0
Less: Changes in fair value of non-hedge derivative instruments	1,514	(1,391)	748	6,573
Less: Losses on the modification or extinguishment of debt and capital lease obligations	0	0	0	0
Less: Acquisition and transaction expenses	(8,872)	(2,560)	(13,108)	(3,518)
Less: Equity-based compensation expense	(956)	(1,439)	(1,665)	(2,553)
Less: Provision for income taxes	(1,947)	715	(3,531)	1,121
Net income (loss) attributable to shareholders	(29,480)	(25,435)	(72,302)	(34,763)
Corporate and Other
Segment Reporting Information [Line Items]
Adjusted EBITDA	(5,105)	(5,696)	(13,365)	(11,532)
Equity in losses of unconsolidated entities	(888)	2,372	(1,550)	377
Less: Acquisition and transaction expenses	(8,723)	(2,560)	(12,753)	(3,518)
Less: Provision for income taxes	(61)	0	(61)	0
Net income (loss) attributable to shareholders	(14,526)	(6,039)	(26,960)	(15,038)
Jefferson Terminal | Operating Segments
Segment Reporting Information [Line Items]
Adjusted EBITDA	4,158	3,555	7,964	6,383
Equity in losses of unconsolidated entities	0	0	0	0
Less: Acquisition and transaction expenses	0	0	0	0
Less: Provision for income taxes	(68)	(59)	(137)	(115)
Net income (loss) attributable to shareholders	(8,823)	(7,185)	(17,742)	(11,967)
Ports and Terminals | Operating Segments
Segment Reporting Information [Line Items]
Adjusted EBITDA	3,675	375	5,044	507
Equity in losses of unconsolidated entities	(12,971)	(9,183)	(34,352)	(7,641)
Less: Acquisition and transaction expenses	0	0	0	0
Less: Provision for income taxes	0	774	0	1,236
Net income (loss) attributable to shareholders	(18,011)	(12,211)	(47,587)	(7,758)
Transtar | Operating Segments
Segment Reporting Information [Line Items]
Adjusted EBITDA	18,826	0	33,473	0
Equity in losses of unconsolidated entities	0	0	0	0
Less: Acquisition and transaction expenses	(149)	0	(355)	0
Less: Provision for income taxes	(1,818)	0	(3,333)	0
Net income (loss) attributable to shareholders	$ 11,880	$ 0	$ 19,987	$ 0

SEGMENT INFORMATION - Balance S

SEGMENT INFORMATION - Balance Sheet (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Current assets	$ 427,591	$ 412,984
Non-current assets	2,132,637	2,029,317
Total assets	2,560,228	2,442,301
Debt, net	729,410	718,624
Current liabilities	174,891	129,467
Non-current liabilities	1,039,524	850,788
Total liabilities	1,214,415	980,255
Equity
Non-controlling interest in equity of consolidated subsidiaries	(10,756)	(91)
Total equity	1,345,813	1,462,046
Liabilities and Equity	2,560,228	2,442,301
Corporate and Other
Segment Reporting Information [Line Items]
Current assets	73,845	8,985
Non-current assets	101,815	69,548
Total assets	175,660	78,533
Debt, net	0	0
Current liabilities	33,331	868
Non-current liabilities	220	79
Total liabilities	33,551	947
Equity
Non-controlling interest in equity of consolidated subsidiaries	4,216	625
Total equity	142,109	77,586
Liabilities and Equity	175,660	78,533
Jefferson Terminal | Operating Segments
Segment Reporting Information [Line Items]
Current assets	236,128	296,753
Non-current assets	1,068,387	987,678
Total assets	1,304,515	1,284,431
Debt, net	704,410	693,624
Current liabilities	72,231	67,612
Non-current liabilities	763,481	753,113
Total liabilities	835,712	820,725
Equity
Non-controlling interest in equity of consolidated subsidiaries	(16,799)	(2,604)
Total equity	468,803	463,706
Liabilities and Equity	1,304,515	1,284,431
Ports and Terminals | Operating Segments
Segment Reporting Information [Line Items]
Current assets	49,734	35,300
Non-current assets	282,109	281,599
Total assets	331,843	316,899
Debt, net	25,000	25,000
Current liabilities	20,826	5,155
Non-current liabilities	216,065	45,496
Total liabilities	236,891	50,651
Equity
Non-controlling interest in equity of consolidated subsidiaries	1,559	1,888
Total equity	94,952	266,248
Liabilities and Equity	331,843	316,899
Transtar | Operating Segments
Segment Reporting Information [Line Items]
Current assets	67,884	71,946
Non-current assets	680,326	690,492
Total assets	748,210	762,438
Debt, net	0	0
Current liabilities	48,503	55,832
Non-current liabilities	59,758	52,100
Total liabilities	108,261	107,932
Equity
Non-controlling interest in equity of consolidated subsidiaries	268	0
Total equity	639,949	654,506
Liabilities and Equity	$ 748,210	$ 762,438

EARNINGS PER SHARE AND EQUITY -

EARNINGS PER SHARE AND EQUITY - Narrative (Details) - Subsequent Event	Aug. 01, 2022 shares
Earnings Per Share [Abstract]
Common stock, shares issued (in shares)	99,387,467
Subsequent Event [Line Items]
Common stock, convertible, conversion ratio	1
Common stock, shares issued (in shares)	99,387,467
Common stock, shares outstanding (in shares)	99,387,467

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Additional Information (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2021	Jun. 30, 2022
Loss Contingencies [Line Items]
Agreement term	2 years
Minimum
Loss Contingencies [Line Items]
Minimum annual purchase obligation			$ 9,200,000
Repauno
Loss Contingencies [Line Items]
Potential milestone payment		$ 15,000,000
Loss contingency accrual, payments		$ 5,000,000

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) $ / shares in Units, $ in Millions	Aug. 01, 2022 $ / shares shares	Jun. 30, 2022 USD ($) $ / shares shares	Jul. 21, 2022 USD ($)	Jul. 07, 2022 USD ($)
Subsequent Event [Line Items]
Preferred stock, par value (in dollars per share) | $ / shares		$ 0.01
Common stock, par value (in dollars per share) | $ / shares		0.01
Subsequent Event
Subsequent Event [Line Items]
Common stock, par value (in dollars per share) | $ / shares	$ 0.01
Common stock, convertible, conversion ratio	1
Nonqualified Stock Option and Incentive Award Plan | Subsequent Event
Subsequent Event [Line Items]
Common stock, shares authorized (in shares) | shares	30,000,000
Stock Options | Subsequent Event
Subsequent Event [Line Items]
Granted (in shares) | shares	10,900,000
Senior Notes | Subsequent Event
Subsequent Event [Line Items]
Aggregate principal amount | $			$ 50	$ 450
Stated percentage			10.50%	10.50%
Discounted percentage of principal			94.585%	94.585%
Exercise Price Two
Subsequent Event [Line Items]
Exercise price (in dollars per share) | $ / shares		$ 0.01
Subscription Agreement
Subsequent Event [Line Items]
Consideration received on transaction | $		$ 300
Discount on aggregate purchase price | $		$ 9
Common Stock | Subscription Agreement | Exercise Price One
Subsequent Event [Line Items]
Number of common shares called by warrants (in shares) | shares		3,342,566
Exercise price (in dollars per share) | $ / shares		$ 10
Common Stock | Subscription Agreement | Exercise Price Two
Subsequent Event [Line Items]
Number of common shares called by warrants (in shares) | shares		3,342,566
Preferred Stock | Subscription Agreement
Subsequent Event [Line Items]
Number of shares issued (in shares) | shares		300,000