10-Q Filing
Filing Information
| Form Type | 10-Q |
| Accession Number | 0001558370-19-004689 |
| Period End Date | 20190331 |
| Filing Date | 20190509 |
| Fiscal Year | 2019 |
| Fiscal Period | Q1 |
| XBRL Instance | al-20190331.xml |
Filing Contents
This filing contains the following financial statements:
Balance Sheet
50 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Preferred Stock, par value (in dollars per share) |
PreferredStockParOrStatedValuePerShare
|
$0.01 | USD | Point-in-time |
| Preferred Stock, par value (in dollars per share) |
PreferredStockParOrStatedValuePerShare
|
$0.01 | USD | Point-in-time |
| Preferred Stock, par value (in dollars per share) |
PreferredStockParOrStatedValuePerShare
|
$0.01 | USD | Point-in-time |
| Preferred Stock, shares authorized |
PreferredStockSharesAuthorized
|
50.00M | shares | Point-in-time |
| Cash and cash equivalents |
CashAndCashEquivalentsAtCarryingValue
|
$300.13M | USD | Point-in-time |
| Cash and cash equivalents |
CashAndCashEquivalentsAtCarryingValue
|
$285.71M | USD | Point-in-time |
| Preferred Stock, shares authorized |
PreferredStockSharesAuthorized
|
50.00M | shares | Point-in-time |
| Restricted cash |
RestrictedCashAndCashEquivalentsAtCarryingValue
|
$12.53M | USD | Point-in-time |
| Preferred Stock, shares issued |
PreferredStockSharesIssued
|
10.00M | shares | Point-in-time |
| Restricted cash |
RestrictedCashAndCashEquivalentsAtCarryingValue
|
$22.87M | USD | Point-in-time |
| Preferred Stock, shares issued |
PreferredStockSharesIssued
|
0.00 | shares | Point-in-time |
| Preferred Stock, shares outstanding |
PreferredStockSharesOutstanding
|
10.00M | shares | Point-in-time |
| Preferred Stock, shares outstanding |
PreferredStockSharesOutstanding
|
0.00 | shares | Point-in-time |
| Flight equipment subject to operating leases |
PropertySubjectToOrAvailableForLessorOperatingLeaseGross
|
$18.67B | USD | Point-in-time |
| Flight equipment subject to operating leases |
PropertySubjectToOrAvailableForLessorOperatingLeaseGross
|
$17.99B | USD | Point-in-time |
| Less accumulated depreciation |
PropertySubjectToOrAvailableForLessorOperatingLeaseAccumulatedDepreciation
|
$2.38B | USD | Point-in-time |
| Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock |
PreferredStockDividendRatePercentage
|
0.06 | pure | Point-in-time |
| Less accumulated depreciation |
PropertySubjectToOrAvailableForLessorOperatingLeaseAccumulatedDepreciation
|
$2.28B | USD | Point-in-time |
| Series A liquidation preference |
PreferredStockLiquidationPreferenceValue
|
$250.00M | USD | Point-in-time |
| Flight equipment subject to operating leases, net |
PropertySubjectToOrAvailableForLessorOperatingLeaseNet
|
$16.29B | USD | Point-in-time |
| Flight equipment subject to operating leases, net |
PropertySubjectToOrAvailableForLessorOperatingLeaseNet
|
$15.71B | USD | Point-in-time |
| Deposits on flight equipment purchases |
DepositsOnFlightEquipment
|
$1.87B | USD | Point-in-time |
| Deposits on flight equipment purchases |
DepositsOnFlightEquipment
|
$1.81B | USD | Point-in-time |
| Other assets |
OtherAssets
|
$724.23M | USD | Point-in-time |
| Other assets |
OtherAssets
|
$642.44M | USD | Point-in-time |
| Total assets |
Assets
|
$18.48B | USD | Point-in-time |
| Common Stock, issued shares |
CommonStockSharesIssued
|
10.00M | shares | Point-in-time |
| Total assets |
Assets
|
$19.18B | USD | Point-in-time |
| Accrued interest and other payables |
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
|
$382.13M | USD | Point-in-time |
| Accrued interest and other payables |
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
|
$366.83M | USD | Point-in-time |
| Debt financing, net of discounts and issuance costs |
LongTermDebt
|
$11.87B | USD | Point-in-time |
| Debt financing, net of discounts and issuance costs |
LongTermDebt
|
$11.54B | USD | Point-in-time |
| Security deposits and maintenance reserves on flight equipment leases |
SecurityDepositLiability
|
$971.40M | USD | Point-in-time |
| Security deposits and maintenance reserves on flight equipment leases |
SecurityDepositLiability
|
$990.58M | USD | Point-in-time |
| Rentals received in advance |
AdvanceRent
|
$119.53M | USD | Point-in-time |
| Rentals received in advance |
AdvanceRent
|
$116.66M | USD | Point-in-time |
| Deferred tax liability |
DeferredIncomeTaxLiabilitiesNet
|
$643.77M | USD | Point-in-time |
| Deferred tax liability |
DeferredIncomeTaxLiabilitiesNet
|
$680.57M | USD | Point-in-time |
| Total liabilities |
Liabilities
|
$13.67B | USD | Point-in-time |
| Total liabilities |
Liabilities
|
$14.01B | USD | Point-in-time |
| Paid-in capital |
AdditionalPaidInCapitalCommonStock
|
$2.47B | USD | Point-in-time |
| Paid-in capital |
AdditionalPaidInCapitalCommonStock
|
$2.72B | USD | Point-in-time |
| Retained earnings |
RetainedEarningsAccumulatedDeficit
|
$2.33B | USD | Point-in-time |
| Retained earnings |
RetainedEarningsAccumulatedDeficit
|
$2.46B | USD | Point-in-time |
| Total shareholders' equity |
StockholdersEquity
|
$4.81B | USD | Point-in-time |
| Total shareholders' equity |
StockholdersEquity
|
$4.23B | USD | Point-in-time |
| Total shareholders' equity |
StockholdersEquity
|
$5.17B | USD | Point-in-time |
| Total shareholders' equity |
StockholdersEquity
|
$4.13B | USD | Point-in-time |
| Total liabilities and shareholders' equity |
LiabilitiesAndStockholdersEquity
|
$18.48B | USD | Point-in-time |
| Total liabilities and shareholders' equity |
LiabilitiesAndStockholdersEquity
|
$19.18B | USD | Point-in-time |
Income Statement
36 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Rental of flight equipment |
OperatingLeaseLeaseIncome
|
$455.74M | USD | 1 Quarter |
| Rental of flight equipment |
OperatingLeaseLeaseIncome
|
$377.86M | USD | 1 Quarter |
| Aircraft sales, trading and other |
RevenueFromContractWithCustomerExcludingAssessedTax
|
$3.35M | USD | 1 Quarter |
| Aircraft sales, trading and other |
RevenueFromContractWithCustomerExcludingAssessedTax
|
$10.31M | USD | 1 Quarter |
| Total revenues |
Revenues
|
$466.05M | USD | 1 Quarter |
| Total revenues |
Revenues
|
$381.21M | USD | 1 Quarter |
| Interest |
InterestExpenseDebt
|
$89.22M | USD | 1 Quarter |
| Interest |
InterestExpenseDebt
|
$68.94M | USD | 1 Quarter |
| Amortization of debt discounts and issuance costs |
AmortizationOfFinancingCosts
|
$8.54M | USD | 1 Quarter |
| Amortization of debt discounts and issuance costs |
AmortizationOfFinancingCosts
|
$8.02M | USD | 1 Quarter |
| Interest expense |
InterestExpense
|
$97.76M | USD | 1 Quarter |
| Interest expense |
InterestExpense
|
$76.97M | USD | 1 Quarter |
| Depreciation of flight equipment |
Depreciation
|
$159.47M | USD | 1 Quarter |
| Depreciation of flight equipment |
Depreciation
|
$136.13M | USD | 1 Quarter |
| Selling, general and administrative |
SellingGeneralAndAdministrativeExpense
|
$29.70M | USD | 1 Quarter |
| Selling, general and administrative |
SellingGeneralAndAdministrativeExpense
|
$23.36M | USD | 1 Quarter |
| Stock-based compensation |
ShareBasedCompensation
|
$4.17M | USD | 1 Quarter |
| Stock-based compensation |
ShareBasedCompensation
|
$3.43M | USD | 1 Quarter |
| Total expenses |
OperatingExpenses
|
$291.11M | USD | 1 Quarter |
| Total expenses |
OperatingExpenses
|
$239.89M | USD | 1 Quarter |
| Income before taxes |
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
$174.94M | USD | 1 Quarter |
| Income before taxes |
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
$141.32M | USD | 1 Quarter |
| Income tax expense |
IncomeTaxExpenseBenefit
|
$36.85M | USD | 1 Quarter |
| Income tax expense |
IncomeTaxExpenseBenefit
|
$30.67M | USD | 1 Quarter |
| Net income |
NetIncomeLoss
|
$138.09M | USD | 1 Quarter |
| Net income |
NetIncomeLoss
|
$110.65M | USD | 1 Quarter |
| Basic (in dollars per share) |
EarningsPerShareBasic
|
$1.24 | USD | 1 Quarter |
| Basic (in dollars per share) |
EarningsPerShareBasic
|
$1.07 | USD | 1 Quarter |
| Diluted (in dollars per share) |
EarningsPerShareDiluted
|
$1.23 | USD | 1 Quarter |
| Diluted (in dollars per share) |
EarningsPerShareDiluted
|
$1.00 | USD | 1 Quarter |
| Basic (in shares) |
WeightedAverageNumberOfSharesOutstandingBasic
|
103.75M | shares | 1 Quarter |
| Basic (in shares) |
WeightedAverageNumberOfSharesOutstandingBasic
|
111.02M | shares | 1 Quarter |
| Diluted (in shares) |
WeightedAverageNumberOfDilutedSharesOutstanding
|
112.38M | shares | 1 Quarter |
| Diluted (in shares) |
WeightedAverageNumberOfDilutedSharesOutstanding
|
112.23M | shares | 1 Quarter |
| Dividends declared per share of Class A common stock (in dollars per share) |
CommonStockDividendsPerShareCashPaid
|
$0.13 | USD | 1 Quarter |
| Dividends declared per share of Class A common stock (in dollars per share) |
CommonStockDividendsPerShareCashPaid
|
$0.10 | USD | 1 Quarter |
Cash Flow Statement
72 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Cash paid for interest, capitalized interest |
InterestPaidCapitalized
|
$12.82M | USD | 1 Quarter |
| Net income |
ProfitLoss
|
$138.09M | USD | 1 Quarter |
| Net income |
ProfitLoss
|
$110.65M | USD | 1 Quarter |
| Cash paid for interest, capitalized interest |
InterestPaidCapitalized
|
$16.23M | USD | 1 Quarter |
| Depreciation of flight equipment |
Depreciation
|
$159.47M | USD | 1 Quarter |
| Depreciation of flight equipment |
Depreciation
|
$136.13M | USD | 1 Quarter |
| Stock-based compensation |
ShareBasedCompensation
|
$4.17M | USD | 1 Quarter |
| Stock-based compensation |
ShareBasedCompensation
|
$3.43M | USD | 1 Quarter |
| Deferred taxes |
DeferredIncomeTaxExpenseBenefit
|
$30.67M | USD | 1 Quarter |
| Deferred taxes |
DeferredIncomeTaxExpenseBenefit
|
$36.83M | USD | 1 Quarter |
| Amortization of debt discounts and issuance costs |
AmortizationOfFinancingCosts
|
$8.54M | USD | 1 Quarter |
| Amortization of debt discounts and issuance costs |
AmortizationOfFinancingCosts
|
$8.02M | USD | 1 Quarter |
| Amortization of prepaid lease costs |
AmortizationOfPrepaidLeaseCosts
|
$7.02M | USD | 1 Quarter |
| Amortization of prepaid lease costs |
AmortizationOfPrepaidLeaseCosts
|
$7.18M | USD | 1 Quarter |
| Gain on aircraft sales, trading and other activity |
EquityMethodInvestmentRealizedGainLossOnDisposal
|
$17.17M | USD | 1 Quarter |
| Gain on aircraft sales, trading and other activity |
EquityMethodInvestmentRealizedGainLossOnDisposal
|
$765.00K | USD | 1 Quarter |
| Other assets |
IncreaseDecreaseInOtherOperatingAssets
|
$93.79M | USD | 1 Quarter |
| Other assets |
IncreaseDecreaseInOtherOperatingAssets
|
$25.61M | USD | 1 Quarter |
| Accrued interest and other payables |
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
$-24.91M | USD | 1 Quarter |
| Accrued interest and other payables |
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
$20.79M | USD | 1 Quarter |
| Rentals received in advance |
IncreaseDecreaseInContractWithCustomerLiability
|
$2.02M | USD | 1 Quarter |
| Rentals received in advance |
IncreaseDecreaseInContractWithCustomerLiability
|
$-2.87M | USD | 1 Quarter |
| Net cash provided by operating activities |
NetCashProvidedByUsedInOperatingActivities
|
$246.67M | USD | 1 Quarter |
| Net cash provided by operating activities |
NetCashProvidedByUsedInOperatingActivities
|
$261.25M | USD | 1 Quarter |
| Acquisition of flight equipment under operating lease |
PaymentsToAcquireEquipmentOnLease
|
$362.52M | USD | 1 Quarter |
| Acquisition of flight equipment under operating lease |
PaymentsToAcquireEquipmentOnLease
|
$725.30M | USD | 1 Quarter |
| Payments for deposits on flight equipment purchases |
PaymentsForFlightEquipment
|
$63.75M | USD | 1 Quarter |
| Payments for deposits on flight equipment purchases |
PaymentsForFlightEquipment
|
$305.28M | USD | 1 Quarter |
| Proceeds from aircraft sales, trading and other activity |
ProceedsFromSaleOfFlightEquipment
|
$247.26M | USD | 1 Quarter |
| Acquisition of aircraft furnishings, equipment and other assets |
PaymentsToAcquirePropertyPlantAndEquipment
|
$54.97M | USD | 1 Quarter |
| Acquisition of aircraft furnishings, equipment and other assets |
PaymentsToAcquirePropertyPlantAndEquipment
|
$111.16M | USD | 1 Quarter |
| Net cash used in investing activities |
NetCashProvidedByUsedInInvestingActivities
|
$-894.48M | USD | 1 Quarter |
| Net cash used in investing activities |
NetCashProvidedByUsedInInvestingActivities
|
$-481.24M | USD | 1 Quarter |
| Issuance of common stock upon exercise of options |
ProceedsFromIssuanceOfCommonStock
|
$2.63M | USD | 1 Quarter |
| Issuance of common stock upon exercise of options |
ProceedsFromIssuanceOfCommonStock
|
$440.00K | USD | 1 Quarter |
| Cash dividends paid |
PaymentsOfDividendsCommonStock
|
$14.42M | USD | 1 Quarter |
| Cash dividends paid |
PaymentsOfDividendsCommonStock
|
$10.36M | USD | 1 Quarter |
| Tax withholdings on stock-based compensation |
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
|
$7.14M | USD | 1 Quarter |
| Tax withholdings on stock-based compensation |
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
|
$3.59M | USD | 1 Quarter |
| Net change in unsecured revolving facility |
ProceedsFromRepaymentsOfLinesOfCredit
|
$225.00M | USD | 1 Quarter |
| Net change in unsecured revolving facility |
ProceedsFromRepaymentsOfLinesOfCredit
|
$-510.00M | USD | 1 Quarter |
| Proceeds from debt financings |
ProceedsFromIssuanceOfDebt
|
$995.78M | USD | 1 Quarter |
| Proceeds from debt financings |
ProceedsFromIssuanceOfDebt
|
$1.23B | USD | 1 Quarter |
| Payments in reduction of debt financings |
ProceedsFromRepaymentsOfDebt
|
$-896.10M | USD | 1 Quarter |
| Payments in reduction of debt financings |
ProceedsFromRepaymentsOfDebt
|
$-537.44M | USD | 1 Quarter |
| Net proceeds from preferred stock issuance |
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
|
$242.24M | USD | 1 Quarter |
| Debt issuance costs |
PaymentsOfDebtIssuanceCosts
|
$2.46M | USD | 1 Quarter |
| Debt issuance costs |
PaymentsOfDebtIssuanceCosts
|
$2.62M | USD | 1 Quarter |
| Security deposits and maintenance reserve receipts |
ProceedsFromSecurityDepositsAndMaintenanceReserveReceipts
|
$48.75M | USD | 1 Quarter |
| Security deposits and maintenance reserve receipts |
ProceedsFromSecurityDepositsAndMaintenanceReserveReceipts
|
$73.14M | USD | 1 Quarter |
| Security deposits and maintenance reserve disbursements |
PaymentsForSecurityDepositsAndMaintenanceReserveDisbursements
|
$11.57M | USD | 1 Quarter |
| Security deposits and maintenance reserve disbursements |
PaymentsForSecurityDepositsAndMaintenanceReserveDisbursements
|
$16.66M | USD | 1 Quarter |
| Net cash provided by financing activities |
NetCashProvidedByUsedInFinancingActivities
|
$197.91M | USD | 1 Quarter |
| Net cash provided by financing activities |
NetCashProvidedByUsedInFinancingActivities
|
$608.48M | USD | 1 Quarter |
| Net decrease in cash |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
$-36.66M | USD | 1 Quarter |
| Net decrease in cash |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
$-24.76M | USD | 1 Quarter |
| Cash, cash equivalents and restricted cash at beginning of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$308.28M | USD | Point-in-time |
| Cash, cash equivalents and restricted cash at beginning of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$298.24M | USD | Point-in-time |
| Cash, cash equivalents and restricted cash at beginning of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$271.62M | USD | Point-in-time |
| Cash, cash equivalents and restricted cash at beginning of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$323.00M | USD | Point-in-time |
| Cash, cash equivalents and restricted cash at end of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$308.28M | USD | Point-in-time |
| Cash, cash equivalents and restricted cash at end of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$298.24M | USD | Point-in-time |
| Cash, cash equivalents and restricted cash at end of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$271.62M | USD | Point-in-time |
| Cash, cash equivalents and restricted cash at end of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$323.00M | USD | Point-in-time |
| Cash paid during the period for interest, including capitalized interest of $16,226 and $12,816 at March 31, 2019 and 2018, respectively |
InterestPaidNet
|
$137.48M | USD | 1 Quarter |
| Cash paid during the period for interest, including capitalized interest of $16,226 and $12,816 at March 31, 2019 and 2018, respectively |
InterestPaidNet
|
$95.47M | USD | 1 Quarter |
| Cash paid for income taxes |
IncomeTaxesPaidNet
|
$70.00K | USD | 1 Quarter |
| Cash paid for income taxes |
IncomeTaxesPaidNet
|
$25.00K | USD | 1 Quarter |
| Buyer furnished equipment, capitalized interest and deposits on flight equipment purchases applied to acquisition of flight equipment |
DepositsOnFlightEquipmentPurchasesAppliedToAcquisitionOfFlightEquipmentUnderOperatingLeases
|
$298.96M | USD | 1 Quarter |
| Buyer furnished equipment, capitalized interest and deposits on flight equipment purchases applied to acquisition of flight equipment |
DepositsOnFlightEquipmentPurchasesAppliedToAcquisitionOfFlightEquipmentUnderOperatingLeases
|
$79.68M | USD | 1 Quarter |
| Cash dividends declared, not yet paid |
DividendsPayableCurrentAndNoncurrent
|
$14.45M | USD | Point-in-time |
| Cash dividends declared, not yet paid |
DividendsPayableCurrentAndNoncurrent
|
$10.40M | USD | Point-in-time |
Stockholders Equity
21 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Cash dividends declared per share (in dollars per share) |
CommonStockDividendsPerShareDeclared
|
$0.10 | USD | 1 Quarter |
| Cash dividends declared per share (in dollars per share) |
CommonStockDividendsPerShareDeclared
|
$0.13 | USD | 1 Quarter |
| Balance |
StockholdersEquity
|
$4.81B | USD | Point-in-time |
| Balance |
StockholdersEquity
|
$4.23B | USD | Point-in-time |
| Balance |
StockholdersEquity
|
$5.17B | USD | Point-in-time |
| Balance |
StockholdersEquity
|
$4.13B | USD | Point-in-time |
| Issuance of common stock upon vesting of restricted stock units and upon exercise of options |
StockIssuedDuringPeriodValueShareBasedCompensationGross
|
$441.00K | USD | 1 Quarter |
| Issuance of common stock upon vesting of restricted stock units and upon exercise of options |
StockIssuedDuringPeriodValueShareBasedCompensationGross
|
$2.64M | USD | 1 Quarter |
| Issuance of preferred stock |
StockIssuedDuringPeriodValueNewIssues
|
$242.24M | USD | 1 Quarter |
| Stock-based compensation |
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
$3.43M | USD | 1 Quarter |
| Stock-based compensation |
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
$4.17M | USD | 1 Quarter |
| Cash dividends (declared $0.10, $0.13 per share for March 31, 2018 and 2019, respectively) |
DividendsCommonStockCash
|
$10.40M | USD | 1 Quarter |
| Cash dividends (declared $0.10, $0.13 per share for March 31, 2018 and 2019, respectively) |
DividendsCommonStockCash
|
$14.45M | USD | 1 Quarter |
| Tax withholding related to vesting of restricted stock units and exercise of stock options |
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
|
$3.59M | USD | 1 Quarter |
| Tax withholding related to vesting of restricted stock units and exercise of stock options |
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
|
$7.14M | USD | 1 Quarter |
| Net income |
NetIncomeLoss
|
$138.09M | USD | 1 Quarter |
| Net income |
NetIncomeLoss
|
$110.65M | USD | 1 Quarter |
| Balance |
StockholdersEquity
|
$4.81B | USD | Point-in-time |
| Balance |
StockholdersEquity
|
$4.23B | USD | Point-in-time |
| Balance |
StockholdersEquity
|
$5.17B | USD | Point-in-time |
| Balance |
StockholdersEquity
|
$4.13B | USD | Point-in-time |
Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.