FTAI INFRASTRUCTURE INC. (FIP)

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FTAI INFRASTRUCTURE INC.

FIP • CIK 0001899883

(in thousands, except per share data)	FY 2023	FY 2024	FY 2025	TTM
Revenue from Contract with Customer, Excluding Assessed Tax	$320,472	$331,497	$502,520	$659,205
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	$-157,280	$-262,751	$-155,372	$-439,722
Income Tax Expense (Benefit)	$2,470	$3,313	$-3,318	$29,191
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$-159,750	$-266,064	$-152,054	$-468,913
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Noncontrolling Interest	$-38,414	$-42,419	$-44,880	$-48,016
Preferred Stock Dividends, Income Statement Impact	—	—	$44,607	$115,058
Redeemable Preferred Stock Dividends	—	—	$55,622	$13,481
Net Income (Loss) Available to Common Stockholders, Basic	$-183,736	$-294,459	$-207,403	$-558,300
Net Income (Loss) Available to Common Stockholders, Diluted	—	—	$-260,406	$-605,754
Operating Costs and Expenses	$253,672	$247,674	$299,587	$299,587
General and Administrative Expense	$12,833	$14,798	$16,222	$14,475
Business Combination, Acquisition Related Costs	$4,140	$5,457	$27,138	$27,760
Management Fee Expense	$12,467	$11,318	$14,714	$16,261
Depreciation, Depletion and Amortization	$80,992	$79,410	$132,489	$163,681
Asset Impairment Charges	$743	$72,336	$4,401	$63,188
Costs and Expenses	$364,847	$430,993	$494,551	$681,199
Income (Loss) from Equity Method Investments	$-24,707	$-55,496	$12,303	$7,906
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property	$6,855	$2,370	$128,842	$128,842
Gain (Loss) on Extinguishment of Debt	$-2,036	$-8,925	$-59,323	$-102,766
Interest Income (Expense), Net	$-99,603	$-122,108	$-265,914	$-351,577
Other Nonoperating Income (Expense)	$6,586	$20,904	$20,751	$20,277
Nonoperating Income (Expense)	$-112,905	$-163,255	$-163,341	$-417,728
Weighted Average Number of Shares Outstanding, Basic	102,960,812	108,217,871	115,214,910	118,154,359
Dividends, Preferred Stock	$62,400	$70,814	$55,622	$13,481
Interest Expense	$99,603	$122,108	$265,914	$351,577
Net Income (Loss) Attributable to Noncontrolling Interest	—	—	$-44,880	$-48,016
Convertible Preferred Dividends, Net of Tax	—	—	$14,118	$17,433
Dilutive Securities, Effect on Basic Earnings Per Share	—	—	$-2,239	$-2,239
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Outstanding	—	—	$0	$0
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	2,917,041	—	—	—
Common Stock, Shares, Outstanding	100,589,572	113,934,860	116,294,461	119,696,581
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	2,173,914	0	2,852,049	2,852,049
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	16,542,751	4,106,088	2,867,048	2,867,048
Warrants and Rights Outstanding	$13,000	$0	$172.5	$345
Class of Warrant or Right, Outstanding	6,685,132	3,342,566	3,892,566	3,892,566

(in thousands, except per share data)	FY 2023	FY 2024	FY 2025	TTM
Cash and Cash Equivalents, at Carrying Value	$29,367	$27,785	$57,351	$32,628
Restricted Cash and Cash Equivalents	$58,112	$119,511	$268,595	$139,947
Accounts Receivable, after Allowance for Credit Loss	$55,990	$52,994	$95,388	$95,388
Operating Lease, Right-of-Use Asset	$69,748	$67,937	$133,493	$154,406
Commitments and Contingencies	$0	$0	$0	$0
Other Assets, Current	$42,034	$19,561	$62,677	$48,500
Property, Plant and Equipment, Net	$1,630,829	$1,653,468	$4,581,771	$3,135,540
Temporary Equity, Carrying Amount, Attributable to Parent	$325,232	$381,218	$1,090,220	$1,157,045
Assets, Current	$185,503	$219,851	$484,011	$367,767
Equity Method Investments	$72,701	$12,529	$22,243	$21,166
Common Stock, Value, Issued	$1,006	$1,139	$1,163	$1,182
Intangible Assets, Net (Excluding Goodwill)	$52,621	$46,229	$43,173	$55,980
Goodwill	$275,367	$275,367	$365,703	$275,366
Liabilities and Equity	$2,379,609	$2,374,388	$5,748,661	$5,746,745
Other Assets	$57,253	$61,554	$81,697	$81,697
Long-term Debt, Excluding Current Maturities	$1,340,910	$1,539,241	$3,708,735	$2,286,949
Operating Lease, Liability, Noncurrent	$62,441	$60,893	$71,000	$91,474
Derivative Liability, Noncurrent	—	—	$189,116	$0
Deferred Income Taxes and Other Tax Liabilities, Noncurrent	—	—	$300,231	$289,279
Other Liabilities	$87,530	$67,104	$44,000	$113,020
Liabilities	$1,641,518	$1,918,032	$4,804,678	$5,108,423
Additional Paid in Capital	$843,971	$764,381	$623,771	$553,590
Retained Earnings (Accumulated Deficit)	$-182,173	$-405,818	$-512,992	$-754,009
Accumulated Other Comprehensive Income (Loss), Net of Tax	$-178,515	$-157,051	$-90,618	$-130,539
Stockholders' Equity Attributable to Parent	$484,289	$202,651	$21,324	$-329,776
Members' Equity Attributable to Noncontrolling Interest	$-71,430	$-127,513	$-167,561	$-188,947
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$412,859	$75,138	$-146,237	$-518,723
Accounts Payable and Accrued Liabilities	$130,796	$176,425	$280,707	$236,752
Debt, Current	—	$48,594	$65,438	$476,768
Operating Lease, Liability, Current	$7,218	$7,172	$9,108	$10,985
Derivative Liability, Current	—	—	$34,381	$0
Other Liabilities, Current	$12,623	$18,603	$20,363	$29,791
Liabilities, Current	$150,637	$250,794	$409,997	$1,334,009
Temporary Equity, Shares Authorized	200,000,000	200,000,000	—	200,000,000
Temporary Equity, Liquidation Preference	$446,500	$431,800	—	$431,800
Temporary Equity, Shares Issued	300,000	300,000	—	300,000
Common Stock, Shares, Outstanding	100,589,572	113,934,860	116,294,461	118,181,737
Common Stock, Shares Authorized	2,000,000,000	2,000,000,000	2,000,000,000	2,000,000,000
Assets, Noncurrent	$2,194,106	$2,154,537	$5,264,650	$5,290,955
Long-term Debt	$1,340,910	$1,587,835	$3,774,173	$2,763,717
Liabilities, Noncurrent	$1,490,881	$1,667,238	$4,394,681	$4,506,748

(in thousands, except per share data)	FY 2023	FY 2024	FY 2025	TTM
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$-159,750	$-266,064	$-152,054	$-468,913
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	$-62,163	$59,817	$178,650	$-275,688
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$87,479	$147,296	$325,946	$329,970
Debt Issuance Costs Incurred During Noncash or Partial Noncash Transaction	—	$16,158	$0	$0
Income (Loss) from Equity Method Investments	$-24,707	$-55,496	$12,303	$7,906
Payments for Advance to Affiliate	$7,077	$3,826	$18,548	$18,548
Gain (Loss) on Disposition of Stock in Subsidiary	—	—	$128,921	$8,969
Payments to Acquire Businesses, Net of Cash Acquired	$4,448	$0	$856,644	$1,123,683
Gain (Loss) on Disposition of Assets	$6,855	$2,370	$-79	$-79
Payments to Acquire Equipment on Lease	$1,724	$3,288	$724	$160
Gain (Loss) on Extinguishment of Debt	$-2,036	$-8,925	$-59,323	$-102,766
Payments to Acquire Property, Plant, and Equipment	$99,022	$79,536	$280,526	$261,236
Proceeds from Collection of Loans Receivable	—	—	$11,001	$0
Asset Impairment Charges	$743	$72,336	$4,401	$63,188
Deferred Income Taxes and Tax Credits	$2,016	$1,920	$-5,764	$24,582
Proceeds from Insurance Settlement, Investing Activities	—	$267	$0	$0
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	$-1,125	$0	$-603	$-603
Proceeds from Sale of Property, Plant, and Equipment	$1,087	$1,198	$2,775	$9,620
Fair Value Adjustment of Warrants	—	—	$-4,234	$-4,234
Amortization of Debt Issuance Costs	$6,769	$6,248	$10,988	$12,988
Net Cash Provided by (Used in) Investing Activities	$-147,123	$-118,137	$-1,142,666	$-1,399,188
Paid-in-Kind Interest	—	—	$5,829	$10,047
Accounts Receivable, Credit Loss Expense (Reversal)	$1,977	$863	$-888	$-888
Amortization of Debt Discount (Premium)	$4,853	$8,682	$23,336	$60,716
Net Cash Provided by (Used in) Operating Activities	$5,513	$-15,278	$-118,008	$-57,476
Proceeds from Issuance of Long-term Debt	$181,350	$498,426	$1,794,074	$2,707,376
Repayments of Long-term Debt	$75,131	$247,594	$780,364	$1,991,479
Payments of Financing Costs	$8,834	$11,438	$62,051	$56,302
Proceeds from Issuance of Common Stock	—	—	$2,694	$2,694
Proceeds from Issuance of Redeemable Preferred Stock	$0	$0	$1,000,000	$1,000,000
Payments of Stock Issuance Costs	$0	$0	$21,197	$21,197
Payments for Repurchase of Preferred Stock and Preference Stock	—	—	$447,121	$447,121
Payments to Noncontrolling Interests	$1,647	$15,039	$1,314	$2,562
Payments of Ordinary Dividends, Common Stock	$12,372	$13,124	$13,831	$14,035
Payments of Ordinary Dividends, Preferred Stock and Preference Stock	$1,758	$14,664	$25,516	$0
Net Cash Provided by (Used in) Financing Activities	$79,447	$193,232	$1,439,324	$1,213,046
Interest Paid, Excluding Capitalized Interest, Operating Activities	$88,411	$94,396	$219,634	$219,634
Noncash or Part Noncash Acquisition, Fixed Assets Acquired	$1,670	$48,607	$46,494	$46,494
Conversion of Stock, Amount Converted	$0	$0	$44,607	$44,607
Increase (Decrease) in Accounts Receivable	$-2,840	$-2,133	$9,920	$12,424
Increase (Decrease) in Other Operating Assets	$-25,183	$1,976	$13,282	$18,279
Increase (Decrease) in Accounts Payable and Accrued Liabilities	$8,553	$20,970	$51,745	$26,421
Increase (Decrease) in Derivative Liabilities	—	—	$-67,006	$-828
Increase (Decrease) in Other Operating Liabilities	$1,125	$-7,001	$-3,413	$-95

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Import this data to Google Sheets with:

=jivedata("FIP","financials")

Full statements spill as a table. For one cell: =jivedata("FIP","Revenue") or =jivedata("FIP","Revenue","TTM"). Install the Jive Data add-on, then paste into a cell.