FTAI Infrastructure Inc 2024年度报告

FORM 10-K ☑ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year endedDecember 31, 2024OR☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____ to ____Commission file number001-37386 FTAI INFRASTRUCTURE INC. Securities registered pursuant to Section 12(b) of the Act: Securities registered pursuant to Section 12(g) of the Act:None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes☐No☑ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes☐No☑ Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports),and (2) has been subject to such filing requirements for the past 90 days. Yes☑No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that theregistrant was required to submit such files). Yes☑No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smallerreporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of theeffectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by theregistered public accounting firm that prepared or issued its audit report.☑ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of theregistrant included in the filing reflect the correction of an error to previously issued financial statements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-basedcompensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐No☑ The aggregate market value of the registrant’s common stock held by non-affiliates of the registrant as of June 30, 2024, the lastbusiness day of the registrant’s most recently completed second fiscal quarter, was approximately $864.0 million, calculated basedon the closing price of the common stock on the Nasdaq Global Select Market on that date. As of March 10, 2025, the number of outstanding shares of the registrant’s common stock was 113,941,865 shares. DOCUMENTS INCORPORATED BY REFERENCE Portions of the registrant's definitive proxy statement for the registrant's 2025 annual meeting, to be filed within 120 days after theclose of the registrant's fiscal year, are incorporated by reference into Part III of this Annual Report on Form 10-K. FTAI INFRASTRUCTURE INC.INDEX TO FORM 10-K PART IForward-Looking Statements and Risk Factors Summary5Item 1.Business7Item 1A.Risk Factors14Item 1B.Unresolved Staff Comments32Item 1C.Cybersecurity32Item 2.Properties33Item 3.Legal Proceedings33Item 4.Mine Safety Disclosures33PART IIItem 5.Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities34Item 6.[Reserved]35Item 7.Management’s Discussion and Analysis of Financial Condition and Results of Operations35Item 7A.Quantitative and Qualitative Disclosures About Market Risk58Item 8.Consolidated and Combined Consolidated Financial Statements of FTAI Infrastructure Inc.58Report of Independent Registered Public Accounting Firm59Consolidated Balance Sheets as of December 31, 2024 and 202361Consolidated and Combined Consolidated Statements of Operations for the years ended December 31, 2024, 2023 and202262Consolidated and Combined Consolidated Statements of Comprehensive (Loss) Income for the years ended December31, 2024, 2023 and 202263Consolidated and Combined Consolidated Statement of Changes in Equity for the years ended December 31, 2024, 2023and 202264Consolidated and Combined Consolidated Statements of Cash Flows for the years ended December 31, 2024, 2023 and202266Not