everyone. good Jason. thanks, afternoon, today. our call Thank Hello, Well, for joining and you
revenues Lease share. During generated $XXX earnings million the fourth of quarter, diluted per in $X.XX and Air
our the our of expansion also revenue report happy from XXXX levels company. the record book Our by revenue in reached ending prior fleet compared to the lower lease of to and continued net that year value end history results benefited as offset fleet, year. of I'm full
slightly XXX%. X.X average remaining at was robust at years. term fleet quarter-over-quarter The very weighted to remains our in average billion our We during aircraft sheet. we XX the our And purchased million order sales $XXX sold aircraft $X.X approximately adding equipment flight XX book from years, proceeds. while utilization lease of weighted in new stable to Fleet extended age quarter, X.X balance for
range last $X deliveries beginning we at billion you received the than pushed delivery OEMs in fourth to own achieve $X.X deliveries basis, year. year-end. the billion midpoint the full outlined On in their ahead and objectives came expected of Our we a of the year as to quarter to hit better the goals of $X.X billion
anticipated our for receive approximately aircraft. expect For order deliveries note deliver to aircraft expected the from of of in also are billion XX% I of would $XXX delivered that to million 'XX. $X.X to new XXXX quarter our Boeing first around billion $X we book, XXXX, with
any emerging So additional could be challenges in efforts impactful. Boeing's production
for aircraft those forecast deliveries XXXX funding means capital to compared to needs With the ability largely deliveries cash This self-fund have plus XXXX, lower the on will from reduced the from ALC flow sales. expenditures new operating markets. aircraft debt
effect, In billion, of for approximately debt of anticipate refinancing XXXX maturities. debt XXXX, we $X funding including remaining
this team that achieve fully have the will our by way, XXXX. we for believe, XXXX placed it highest are deliveries is to in Expected remaining lease rates appears order same book Greg overall will XXXX, we So diligently remain possible will in on situation forward financing and through the where the the deliveries and financing working that discuss beyond. our XXXX, elevated. from further. will exist less rates And
environment lease and up us positions available environment. young fleet well order book sizable [ ] with to position exceptionally inside well is Our to continuing the continues also rates. strong any new delivery drive manufacturers current commercial supply-constrained of This aircraft in
our like that to I'd report hope XXXX. that as So you to here some specific year we share full on useful information find I point,
be to quarter, the give comments context. simply seeing flavor a Now these but specific I you wanted overall of are what in won't updating or every we examples
a X single-aisle higher and First, resulted MAX, of pool XXX-X extensions XXX-XXX, In including just prior lease factors compared during AXXXceos to in aircraft that that those executed and the new. Boeing normally delivered aircraft, during QX, to lower XX rates when ALC EXXX. rates rate lease extension. extensions aggregate, lease very lease aircraft covering This Boeing lease is in extension are than significant
X significantly historically total also across than those lagged rates were largely to rate of Second, they appraisal factors higher lease wide-body the lease for aircraft the and The lease aircraft, to add growing rates in lease aircraft. by would always what points which I And currently This firms. extension. indicated on the have year-to-date well-known narrowbody aircraft with strength line prior were XXX-XXXER to Boeing aggregate ALC XXXX, X airlines. agreed in has extensions
past will comment surged Steve In narrowbody over that on fact, we demand the in further months. this wide-body remarks. has believe demand his X faster than
rate Third, as COVID, represented you of Fourth, restructured in over yield product a by low that aircraft during X $X in we signed the deliveries number time. facing net value years. QX our end as had of highest customers point leases a of the recall, leases factors that Approximately were challenges of the billion relatively or a new in mature delivery book at quarter our at lease lower-yielding will XXXX. these
we today. optimistic rates at we as higher or these at continue lessee expire mature through lease leases the higher to rates, extensions lease XXXX, significantly lease be significantly next about As rate to and are seeing re-leasing
same recognize we an of fallen us a not in we rapidly must are rates interest environment expected as where the ago. Now time, at have most as year
will remain for of forward, fact, we period In a longer interest that it looking anticipated. time elevated rates than appears
historic rates back overall, lease our over past months, can more rates Looking the XX-plus from interest rose said be than it that lows. still
of on undertook you ] sales, want Let were on profitable, aircraft lease leases years those content, effectively. those China. remind that we remind gains leases. made fact, We that XXXX, healthy to you very ago our and That China yet some to several me so in also continued I our sales of were yielding have a in highest very [ we program done where China aircraft our half to reduce almost
looking margins also this forward. our So affects
for financial activity it these each taking sales views market of interest and yields and seen a our over same bit next and moderately our being lease years Nevertheless, a environment the margins fleet based in increased year see upward for we longer assumptions will take results. expect to period. the sized around trajectory X lease is factors, steady X the in on With our rate to
are aircraft support Strong gain aircraft our the of on sales efforts continues margins. to benefits demand At aircraft the same values time, we and sale commercial reaping sales. higher and
very Our gain full this margins sale year reflecting were 'XX 'XX quarter for and robust, on environment. fourth
$X.X which close at We solid sale of about a million expected billion, sales the $X.X is to an XXXX, remains for in pipeline on first envision around sales margins. gain $XXX of consistently healthy outlook overall billion quarter. Our
Given capital backdrop, this let discuss allocation. me overall
We've ratio that X.X:X. For funding you back told quite priority target get to our of to besides order XXXX, going is to our our book, debt-to-equity it's simple. top be
perhaps end We XXXX, by expect earlier. of the to be there even
are all capital return to capital we target will, level, hit Once we always, possibilities, we debt equity deployment fleet our focused shareholders. M&A for capital debt on allocation of consider avenues, deem XXXX, we purchases, in or best So reduction. shareholders, including as to first whichever aircraft incremental the our
that hometown, fires bit on Let tragic importantly, our recently. Angeles, to me devastated the conclude topic, Los a off but comment
of all or You all thankful number of a in employees devastation suffered any employees incredibly loss read I unprecedented the the our that evacuated, city. and homes none of our am tragedies. our other Despite their above being firsthand saw
a am operations proud I this normal crisis, beat. during team without During time the this of maintained period skipping that business ALC
property the fortunate. At are and in saddened all profoundly our time, of we life others we same while others time need. of the helping spent less Many employees And by of loss assistance that saved lives. a who offered our instead to our ALC declined, make contribution all fire-related housing and financial costs, employees most wishing for or other to those any meaningful homes
to thanks. I'm City departments ALC and and to donating profound such, heartfelt $X.X fire million County pleased with is L.A. advise our As that gratitude
Hazy additional now call Steve me Steve? the some turn let offer commentary. to So over to
