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Supplemental Guarantor Financial Information | 12 Months Ended
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Dec. 31, 2016
Supplemental Guarantor Financial Information [Abstract] |
Supplemental Guarantor Financial Information | 32. Supplemental guarantor financial information The following supplemental financial information is presented to comply with Rule 3-10 of Regulation S-X. AerCap Aviation Notes In May 2012, AerCap Aviation Solutions B.V. (“AerCap Aviation Solutions”), a 100%-owned finance subsidiary of AerCap Holdings N.V. (the “Parent Guarantor”), issued $300.0 million of 6.375% senior unsecured notes due 2017 (the “AerCap Aviation Notes”). The AerCap Aviation Notes are fully and unconditionally guaranteed by the Parent Guarantor. I n November 2012, we entered into a $285.0 million unsecured revolving credit facility which was guaranteed by AerCap Aviation Solutions and AerCap Ireland. The guarantee by AerCap Ireland under this facility triggered a springing guarantee under the AerCap Aviation Notes indenture, as a result of which AerCap Ireland also fully and unconditionally guarantees the AerCap Aviation Notes. The following condensed consolidating financial information presents the Condensed Consolidating Balan ce Sheets as of December 31, 2016 and 2015, the Condensed Consolidating Income Statement s, Condensed Consolidating Statements of Cash Flows and Condensed Consolidating Statement s of Comprehensive Income for t he years ended December 31, 2016, 2015 and 2014 of (i) the Parent Guarantor; (ii) AerCap Aviation Solutions; (iii) AerCap Ireland; (iv) the non-guarantor subsidiaries; (v) elimination entries necessary to consolidate the Parent Guarantor with AerCap Aviation Solutions, AerCap Ireland and the non-guarantor subsidiaries; and (vi) the Company on a consolidated basis. Investments in consolidated subsidiaries are presented under the equity method of accounting. A portion of our cash and cash equivalents is held by subsidiaries and access to such cash by us for group purposes is limited. In accordance with Rule 3-10 of Regulation S-X, separate financial statements and other disclosures with respect to AerCap Ireland and AerCap Aviation Solutions have not been provided because AerCap Ireland and AerCap Aviation Solutions are 100%-owned by the Parent Guarantor, all guarantees are full and unconditional and the Parent Guarantor’s financial statements have been filed in this annual report for the periods specified by Rules 3-01 and 3-02 of Regulation S-X. ﻿ ﻿
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Condensed Consolidating Balance Sheet
﻿ |  | December 31, 2016
﻿ |  | AerCap Holdings N.V. |  | AerCap Aviation Solutions B.V. |  | AerCap Ireland Ltd. |  | Non- Guarantors |  | Eliminations |  | Total
﻿ |  | (U.S. dollar amounts in millions)
﻿Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Cash and cash equivalents |  | $ | 4 |  | $ | — |  | $ | 835 |  | $ | 1,196 |  | $ | — |  | $ | 2,035
﻿Restricted cash |  |  | — |  |  | — |  |  | 9 |  |  | 320 |  |  | — |  |  | 329
﻿Flight equipment held for operating leases, net |  |  | — |  |  | — |  |  | 1,136 |  |  | 30,366 |  |  | — |  |  | 31,502
﻿Maintenance rights intangible and lease premium, net |  |  | — |  |  | — |  |  | 51 |  |  | 2,117 |  |  | — |  |  | 2,168
﻿Flight equipment held for sale |  |  | — |  |  | — |  |  | — |  |  | 107 |  |  | — |  |  | 107
﻿Net investment in finance and sales-type leases |  |  | — |  |  | — |  |  | — |  |  | 757 |  |  | — |  |  | 757
﻿Prepayments on flight equipment |  |  | — |  |  | — |  |  | — |  |  | 3,266 |  |  | — |  |  | 3,266
﻿Investments including investments in subsidiaries |  |  | 9,310 |  |  | — |  |  | 4,257 |  |  | 119 |  |  | (13,567) |  |  | 119
﻿Intercompany receivables |  |  | 106 |  |  | — |  |  | 8,005 |  |  | 5,726 |  |  | (13,837) |  |  | —
﻿Other assets |  |  | 104 |  |  | 10 |  |  | 440 |  |  | 951 |  |  | (168) |  |  | 1,337
﻿Total Assets |  | $ | 9,524 |  | $ | 10 |  | $ | 14,733 |  | $ | 44,925 |  | $ | (27,572) |  | $ | 41,620
﻿Liabilities and Equity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Debt |  | $ | — |  | $ | 300 |  | $ | 40 |  | $ | 27,377 |  | $ | — |  | $ | 27,717
﻿Intercompany payables |  |  | 978 |  |  | 19 |  |  | 5,701 |  |  | 7,139 |  |  | (13,837) |  |  | —
﻿Other liabilities |  |  | 22 |  |  | 2 |  |  | 381 |  |  | 5,084 |  |  | (168) |  |  | 5,321
﻿Total liabilities |  |  | 1,000 |  |  | 321 |  |  | 6,122 |  |  | 39,600 |  |  | (14,005) |  |  | 33,038
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Total AerCap Holdings N.V. shareholders' equity |  |  | 8,524 |  |  | (311) |  |  | 8,611 |  |  | 5,267 |  |  | (13,567) |  |  | 8,524
﻿Non-controlling interest |  |  | — |  |  | — |  |  | — |  |  | 58 |  |  | — |  |  | 58
﻿Total Equity |  |  | 8,524 |  |  | (311) |  |  | 8,611 |  |  | 5,325 |  |  | (13,567) |  |  | 8,582
﻿Total Liabilities and Equity |  | $ | 9,524 |  | $ | 10 |  | $ | 14,733 |  | $ | 44,925 |  | $ | (27,572) |  | $ | 41,620
﻿ ﻿
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Condensed Consolidating Balance Sheet
﻿ |  | December 31, 2015
﻿ |  | AerCap Holdings N.V. |  | AerCap Aviation Solutions B.V. |  | AerCap Ireland Ltd. |  | Non- Guarantors |  | Eliminations |  | Total
﻿ |  | (U.S. dollar amounts in millions)
﻿Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Cash and cash equivalents |  | $ | 14 |  | $ | — |  | $ | 1,193 |  | $ | 1,196 |  | $ | — |  | $ | 2,403
﻿Restricted cash |  |  | — |  |  | — |  |  | 18 |  |  | 401 |  |  | — |  |  | 419
﻿Flight equipment held for operating leases, net |  |  | — |  |  | — |  |  | 1,034 |  |  | 31,185 |  |  | — |  |  | 32,219
﻿Maintenance rights intangible and lease premium, net |  |  | — |  |  | — |  |  | 80 |  |  | 3,059 |  |  | — |  |  | 3,139
﻿Flight equipment held for sale |  |  | — |  |  | — |  |  | — |  |  | 71 |  |  | — |  |  | 71
﻿Net investment in finance and sales-type leases |  |  | — |  |  | — |  |  | 22 |  |  | 447 |  |  | — |  |  | 469
﻿Prepayments on flight equipment |  |  | — |  |  | — |  |  | — |  |  | 3,300 |  |  | — |  |  | 3,300
﻿Investments including investments in subsidiaries |  |  | 8,290 |  |  | — |  |  | 3,385 |  |  | 115 |  |  | (11,675) |  |  | 115
﻿Intercompany receivables |  |  | 46 |  |  | 5 |  |  | 6,157 |  |  | 4,652 |  |  | (10,860) |  |  | —
﻿Other assets |  |  | 61 |  |  | — |  |  | 377 |  |  | 1,176 |  |  | — |  |  | 1,614
﻿Total Assets |  | $ | 8,411 |  | $ | 5 |  | $ | 12,266 |  | $ | 45,602 |  | $ | (22,535) |  | $ | 43,749
﻿Liabilities and Equity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Debt |  | $ | — |  | $ | 298 |  | $ | 77 |  | $ | 29,267 |  | $ | — |  | $ | 29,642
﻿Intercompany payables |  |  | 4 |  |  | — |  |  | 4,525 |  |  | 6,331 |  |  | (10,860) |  |  | —
﻿Other liabilities |  |  | 58 |  |  | 2 |  |  | 184 |  |  | 5,437 |  |  | — |  |  | 5,681
﻿Total liabilities |  |  | 62 |  |  | 300 |  |  | 4,786 |  |  | 41,035 |  |  | (10,860) |  |  | 35,323
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Total AerCap Holdings N.V. shareholders' equity |  |  | 8,349 |  |  | (295) |  |  | 7,480 |  |  | 4,490 |  |  | (11,675) |  |  | 8,349
﻿Non-controlling interest |  |  | — |  |  | — |  |  | — |  |  | 77 |  |  | — |  |  | 77
﻿Total Equity |  |  | 8,349 |  |  | (295) |  |  | 7,480 |  |  | 4,567 |  |  | (11,675) |  |  | 8,426
﻿Total Liabilities and Equity |  | $ | 8,411 |  | $ | 5 |  | $ | 12,266 |  | $ | 45,602 |  | $ | (22,535) |  | $ | 43,749
﻿ ﻿ ﻿
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Condensed Consolidating Income Statement
﻿ | Year Ended December 31, 2016
﻿ | AerCap Holdings N.V. |  | AerCap Aviation Solutions B.V. |  | AerCap Ireland Ltd. |  | Non- Guarantors |  | Eliminations |  | Total
﻿ | (U.S. dollar amounts in millions)
﻿Revenues and other income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Lease revenue | $ | — |  | $ | — |  | $ | 157 |  | $ | 4,711 |  | $ | — |  | $ | 4,868
﻿Net gain on sale of assets |  | — |  |  | — |  |  | — |  |  | 139 |  |  | — |  |  | 139
﻿Other income (loss) |  | 6 |  |  | — |  |  | 507 |  |  | 400 |  |  | (768) |  |  | 145
﻿Total Revenues and other income |  | 6 |  |  | — |  |  | 664 |  |  | 5,250 |  |  | (768) |  |  | 5,152
﻿Expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Depreciation and amortization |  | — |  |  | — |  |  | 64 |  |  | 1,727 |  |  | — |  |  | 1,791
﻿Asset impairment |  | — |  |  | — |  |  | — |  |  | 82 |  |  | — |  |  | 82
﻿Interest expense |  | — |  |  | 20 |  |  | 378 |  |  | 1,388 |  |  | (694) |  |  | 1,092
﻿Leasing expenses |  | — |  |  | — |  |  | 26 |  |  | 557 |  |  | — |  |  | 583
﻿Transaction, integration and restructuring related expenses |  | — |  |  | — |  |  | — |  |  | 53 |  |  | — |  |  | 53
﻿Selling, general and administrative expenses |  | 60 |  |  | — |  |  | 68 |  |  | 297 |  |  | (74) |  |  | 351
﻿Total Expenses |  | 60 |  |  | 20 |  |  | 536 |  |  | 4,104 |  |  | (768) |  |  | 3,952
﻿(Loss) income before income taxes and income of investments accounted for under the equity method |  | (54) |  |  | (20) |  |  | 128 |  |  | 1,146 |  |  | — |  |  | 1,200
﻿Provision for income taxes |  | 7 |  |  | 5 |  |  | (16) |  |  | (169) |  |  | — |  |  | (173)
﻿Equity in net earnings of investments accounted for under the equity method |  | — |  |  | — |  |  | — |  |  | 13 |  |  | — |  |  | 13
﻿Net (loss) income before income from subsidiaries |  | (47) |  |  | (15) |  |  | 112 |  |  | 990 |  |  | — |  |  | 1,040
﻿Income (loss) from subsidiaries |  | 1,094 |  |  | — |  |  | 867 |  |  | 112 |  |  | (2,073) |  |  | —
﻿Net income (loss) |  | 1,047 |  |  | (15) |  |  | 979 |  |  | 1,102 |  |  | (2,073) |  |  | 1,040
﻿Net loss attributable to non-controlling interest |  | — |  |  | — |  |  | — |  |  | 7 |  |  | — |  |  | 7
﻿Net income (loss) attributable to AerCap Holdings N.V. | $ | 1,047 |  | $ | (15) |  | $ | 979 |  | $ | 1,109 |  | $ | (2,073) |  | $ | 1,047
﻿ ﻿ ﻿
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Condensed Consolidating Income Statement
﻿ | Year Ended December 31, 2015
﻿ | AerCap Holdings N.V. |  | AerCap Aviation Solutions B.V. |  | AerCap Ireland Ltd. |  | Non- Guarantors |  | Eliminations |  | Total
﻿ | (U.S. dollar amounts in millions)
﻿Revenues and other income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Lease revenue | $ | — |  | $ | — |  | $ | 110 |  | $ | 4,882 |  | $ | — |  | $ | 4,992
﻿Net gain on sale of assets |  | — |  |  | — |  |  | 14 |  |  | 169 |  |  | — |  |  | 183
﻿Other income (loss) |  | 9 |  |  | — |  |  | 430 |  |  | 476 |  |  | (802) |  |  | 113
﻿Total Revenues and other income |  | 9 |  |  | — |  |  | 554 |  |  | 5,527 |  |  | (802) |  |  | 5,288
﻿Expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Depreciation and amortization |  | — |  |  | — |  |  | 52 |  |  | 1,791 |  |  | — |  |  | 1,843
﻿Asset impairment |  | — |  |  | — |  |  | — |  |  | 16 |  |  | — |  |  | 16
﻿Interest expense |  | 12 |  |  | 20 |  |  | 268 |  |  | 1,397 |  |  | (597) |  |  | 1,100
﻿Leasing expenses |  | — |  |  | — |  |  | 50 |  |  | 472 |  |  | — |  |  | 522
﻿Transaction, integration and restructuring related expenses |  | — |  |  | — |  |  | — |  |  | 59 |  |  | — |  |  | 59
﻿Selling, general and administrative expenses |  | 108 |  |  | — |  |  | 202 |  |  | 277 |  |  | (205) |  |  | 382
﻿Total Expenses |  | 120 |  |  | 20 |  |  | 572 |  |  | 4,012 |  |  | (802) |  |  | 3,922
﻿(Loss) income before income taxes and income of investments accounted for under the equity method |  | (111) |  |  | (20) |  |  | (18) |  |  | 1,515 |  |  | — |  |  | 1,366
﻿Provision for income taxes |  | 28 |  |  | 5 |  |  | 2 |  |  | (225) |  |  | — |  |  | (190)
﻿Equity in net earnings of investments accounted for under the equity method |  | — |  |  | — |  |  | — |  |  | 1 |  |  | — |  |  | 1
﻿Net (loss) income before income from subsidiaries |  | (83) |  |  | (15) |  |  | (16) |  |  | 1,291 |  |  | — |  |  | 1,177
﻿Income (loss) from subsidiaries |  | 1,262 |  |  | — |  |  | 1,088 |  |  | (16) |  |  | (2,334) |  |  | —
﻿Net income (loss) |  | 1,179 |  |  | (15) |  |  | 1,072 |  |  | 1,275 |  |  | (2,334) |  |  | 1,177
﻿Net loss attributable to non-controlling interest |  | — |  |  | — |  |  | — |  |  | 2 |  |  | — |  |  | 2
﻿Net income (loss) attributable to AerCap Holdings N.V. | $ | 1,179 |  | $ | (15) |  | $ | 1,072 |  | $ | 1,277 |  | $ | (2,334) |  | $ | 1,179
﻿ ﻿ ﻿
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Condensed Consolidating Income Statement
﻿ | Year Ended December 31, 2014
﻿ | AerCap Holdings N.V. |  | AerCap Aviation Solutions B.V. |  | AerCap Ireland Ltd. |  | Non- Guarantors |  | Eliminations |  | Total
﻿ | (U.S. dollar amounts in millions)
﻿Revenues and other income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Lease revenue | $ | — |  | $ | — |  | $ | 81 |  | $ | 3,369 |  | $ | — |  | $ | 3,450
﻿Net gain on sale of assets |  | — |  |  | — |  |  | 10 |  |  | 28 |  |  | — |  |  | 38
﻿Other income (loss) |  | 25 |  |  | — |  |  | 254 |  |  | 377 |  |  | (552) |  |  | 104
﻿Total Revenues and other income |  | 25 |  |  | — |  |  | 345 |  |  | 3,774 |  |  | (552) |  |  | 3,592
﻿Expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Depreciation and amortization |  | — |  |  | — |  |  | 9 |  |  | 1,273 |  |  | — |  |  | 1,282
﻿Asset impairment |  | — |  |  | — |  |  | — |  |  | 22 |  |  | — |  |  | 22
﻿Interest expense |  | 13 |  |  | 20 |  |  | 244 |  |  | 932 |  |  | (428) |  |  | 781
﻿Leasing expenses |  | — |  |  | — |  |  | 96 |  |  | 46 |  |  | — |  |  | 142
﻿Transaction, integration and restructuring related expenses |  | — |  |  | — |  |  | — |  |  | 149 |  |  | — |  |  | 149
﻿Selling, general and administrative expenses |  | 83 |  |  | — |  |  | 72 |  |  | 269 |  |  | (124) |  |  | 300
﻿Total Expenses |  | 96 |  |  | 20 |  |  | 421 |  |  | 2,691 |  |  | (552) |  |  | 2,676
﻿(Loss) income before income taxes and income of investments accounted for under the equity method |  | (71) |  |  | (20) |  |  | (76) |  |  | 1,083 |  |  | — |  |  | 916
﻿Provision for income taxes |  | (1) |  |  | — |  |  | (93) |  |  | (43) |  |  | — |  |  | (137)
﻿Equity in net earnings of investments accounted for under the equity method |  | — |  |  | — |  |  | — |  |  | 29 |  |  | — |  |  | 29
﻿Net (loss) income before income from subsidiaries |  | (72) |  |  | (20) |  |  | (169) |  |  | 1,069 |  |  | — |  |  | 808
﻿Income (loss) from subsidiaries |  | 882 |  |  | — |  |  | 869 |  |  | (169) |  |  | (1,582) |  |  | —
﻿Net income (loss) |  | 810 |  |  | (20) |  |  | 700 |  |  | 900 |  |  | (1,582) |  |  | 808
﻿Net loss attributable to non-controlling interest |  | — |  |  | — |  |  | — |  |  | 2 |  |  | — |  |  | 2
﻿Net income (loss) attributable to AerCap Holdings N.V. | $ | 810 |  | $ | (20) |  | $ | 700 |  | $ | 902 |  | $ | (1,582) |  | $ | 810
﻿ ﻿
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Condensed Consolidating Statement of Cash Flows
﻿ | Year Ended December 31, 2016
﻿ | AerCap Holdings N.V. |  | AerCap Aviation Solutions B.V. |  | AerCap Ireland Ltd. |  | Non- Guarantors |  | Eliminations |  | Total
﻿ | (U.S. dollar amounts in millions)
﻿Net income (loss) | $ | 1,047 |  | $ | (15) |  | $ | 979 |  | $ | 1,102 |  | $ | (2,073) |  | $ | 1,040
﻿Adjustments to reconcile net income (loss) to net cash provided by operating activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿(Income) loss from subsidiaries |  | (1,094) |  |  | — |  |  | (867) |  |  | (112) |  |  | 2,073 |  |  | —
﻿Depreciation and amortization |  | — |  |  | — |  |  | 64 |  |  | 1,727 |  |  | — |  |  | 1,791
﻿Asset impairment |  | — |  |  | — |  |  | — |  |  | 82 |  |  | — |  |  | 82
﻿Amortization of debt issuance costs and debt discount |  | — |  |  | 1 |  |  | 2 |  |  | 53 |  |  | — |  |  | 56
﻿Amortization of lease premium intangibles |  | — |  |  | — |  |  | — |  |  | 20 |  |  | — |  |  | 20
﻿Amortization of fair value adjustments on debt |  | — |  |  | — |  |  | — |  |  | (336) |  |  | — |  |  | (336)
﻿Accretion of fair value adjustments on deposits and maintenance liabilities |  | — |  |  | — |  |  | 1 |  |  | 54 |  |  | — |  |  | 55
﻿Maintenance rights write off |  | — |  |  | — |  |  | 23 |  |  | 629 |  |  | — |  |  | 652
﻿Maintenance liability release to income |  | — |  |  | — |  |  | (19) |  |  | (402) |  |  | — |  |  | (421)
﻿Net gain on sale of assets |  | — |  |  | — |  |  | — |  |  | (139) |  |  | — |  |  | (139)
﻿Deferred income taxes |  | (7) |  |  | (5) |  |  | 16 |  |  | 157 |  |  | — |  |  | 161
﻿Restructuring expenses |  | — |  |  | — |  |  | — |  |  | 34 |  |  | — |  |  | 34
﻿Other |  | 63 |  |  | — |  |  | (20) |  |  | 79 |  |  | — |  |  | 122
﻿Cash flow from operating activities before changes in working capital |  | 9 |  |  | (19) |  |  | 179 |  |  | 2,948 |  |  | — |  |  | 3,117
﻿Working capital |  | 1,002 |  |  | 19 |  |  | (380) |  |  | (377) |  |  | — |  |  | 264
﻿Net cash provided by (used in) operating activities |  | 1,011 |  |  | — |  |  | (201) |  |  | 2,571 |  |  | — |  |  | 3,381
﻿Purchase of flight equipment |  | — |  |  | — |  |  | (299) |  |  | (2,594) |  |  | — |  |  | (2,893)
﻿Proceeds from sale or disposal of assets |  | — |  |  | — |  |  | 142 |  |  | 2,225 |  |  | — |  |  | 2,367
﻿Prepayments on flight equipment |  | — |  |  | — |  |  | — |  |  | (947) |  |  | — |  |  | (947)
﻿Collections of finance and sales-type leases |  | — |  |  | — |  |  | — |  |  | 74 |  |  | — |  |  | 74
﻿Movement in restricted cash |  | — |  |  | — |  |  | 9 |  |  | 81 |  |  | — |  |  | 90
﻿Other |  | — |  |  | — |  |  | (22) |  |  | — |  |  | — |  |  | (22)
﻿Net cash used in investing activities |  | — |  |  | — |  |  | (170) |  |  | (1,161) |  |  | — |  |  | (1,331)
﻿Issuance of debt |  | — |  |  | — |  |  | — |  |  | 3,642 |  |  | — |  |  | 3,642
﻿Repayment of debt |  | — |  |  | — |  |  | (9) |  |  | (5,205) |  |  | — |  |  | (5,214)
﻿Debt issuance costs paid |  | — |  |  | — |  |  | (2) |  |  | (33) |  |  | — |  |  | (35)
﻿Maintenance payments received |  | — |  |  | — |  |  | 38 |  |  | 758 |  |  | — |  |  | 796
﻿Maintenance payments returned |  | — |  |  | — |  |  | (30) |  |  | (475) |  |  | — |  |  | (505)
﻿Security deposits received |  | — |  |  | — |  |  | 20 |  |  | 182 |  |  | — |  |  | 202
﻿Security deposits returned |  | — |  |  | — |  |  | (3) |  |  | (268) |  |  | — |  |  | (271)
﻿Dividend paid to non-controlling interest holders |  | — |  |  | — |  |  | — |  |  | (11) |  |  | — |  |  | (11)
﻿Repurchase of shares and tax withholdings on share-based compensation |  | (1,021) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (1,021)
﻿Net cash (used in) provided by financing activities |  | (1,021) |  |  | — |  |  | 14 |  |  | (1,410) |  |  | — |  |  | (2,417)
﻿Net decrease in cash and cash equivalents |  | (10) |  |  | — |  |  | (357) |  |  | — |  |  | — |  |  | (367)
﻿Effect of exchange rate changes |  | — |  |  | — |  |  | (1) |  |  | — |  |  | — |  |  | (1)
﻿Cash and cash equivalents at beginning of period |  | 14 |  |  | — |  |  | 1,193 |  |  | 1,196 |  |  | — |  |  | 2,403
﻿Cash and cash equivalents at end of period | $ | 4 |  | $ | — |  | $ | 835 |  | $ | 1,196 |  | $ | — |  | $ | 2,035
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Condensed Consolidating Statement of Cash Flows
﻿ | Year Ended December 31, 2015
﻿ | AerCap Holdings N.V. |  | AerCap Aviation Solutions B.V. |  | AerCap Ireland Ltd. |  | Non- Guarantors |  | Eliminations |  | Total
﻿ | (U.S. dollar amounts in millions)
﻿Net income (loss) | $ | 1,179 |  | $ | (15) |  | $ | 1,072 |  | $ | 1,275 |  | $ | (2,334) |  | $ | 1,177
﻿Adjustments to reconcile net income (loss) to net cash provided by operating activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿(Income) loss from subsidiaries |  | (1,262) |  |  | — |  |  | (1,088) |  |  | 16 |  |  | 2,334 |  |  | —
﻿Depreciation and amortization |  | — |  |  | — |  |  | 52 |  |  | 1,791 |  |  | — |  |  | 1,843
﻿Asset impairment |  | — |  |  | — |  |  | — |  |  | 16 |  |  | — |  |  | 16
﻿Amortization of debt issuance costs and debt discount |  | 1 |  |  | 1 |  |  | 9 |  |  | 35 |  |  | — |  |  | 46
﻿Amortization of lease premium intangibles |  | — |  |  | — |  |  | — |  |  | 23 |  |  | — |  |  | 23
﻿Amortization of fair value adjustments on debt |  | — |  |  | — |  |  | — |  |  | (443) |  |  | — |  |  | (443)
﻿Accretion of fair value adjustments on deposits and maintenance liabilities |  | — |  |  | — |  |  | 1 |  |  | 75 |  |  | — |  |  | 76
﻿Maintenance rights write off |  | — |  |  | — |  |  | 7 |  |  | 622 |  |  | — |  |  | 629
﻿Maintenance liability release to income |  | — |  |  | — |  |  | (4) |  |  | (240) |  |  | — |  |  | (244)
﻿Net gain on sale of assets |  | — |  |  | — |  |  | (14) |  |  | (169) |  |  | — |  |  | (183)
﻿Deferred income taxes |  | (28) |  |  | (5) |  |  | (2) |  |  | 145 |  |  | — |  |  | 110
﻿Restructuring expenses |  | — |  |  | — |  |  | — |  |  | 49 |  |  | — |  |  | 49
﻿Other |  | 64 |  |  | — |  |  | 26 |  |  | — |  |  | — |  |  | 90
﻿Cash flow from operating activities before changes in working capital |  | (46) |  |  | (19) |  |  | 59 |  |  | 3,195 |  |  | — |  |  | 3,189
﻿Working capital |  | 846 |  |  | 19 |  |  | 537 |  |  | (1,231) |  |  | — |  |  | 171
﻿Net cash provided by operating activities |  | 800 |  |  | — |  |  | 596 |  |  | 1,964 |  |  | — |  |  | 3,360
﻿Purchase of flight equipment |  | — |  |  | — |  |  | (299) |  |  | (2,473) |  |  | — |  |  | (2,772)
﻿Proceeds from sale or disposal of assets |  | — |  |  | — |  |  | 94 |  |  | 1,474 |  |  | — |  |  | 1,568
﻿Prepayments on flight equipment |  | — |  |  | — |  |  | — |  |  | (792) |  |  | — |  |  | (792)
﻿Collections of finance and sales-type leases |  | — |  |  | — |  |  | 3 |  |  | 52 |  |  | — |  |  | 55
﻿Movement in restricted cash |  | — |  |  | — |  |  | (11) |  |  | 309 |  |  | — |  |  | 298
﻿Other |  | — |  |  | — |  |  | — |  |  | (73) |  |  | — |  |  | (73)
﻿Net cash used in investing activities |  | — |  |  | — |  |  | (213) |  |  | (1,503) |  |  | — |  |  | (1,716)
﻿Issuance of debt |  | 300 |  |  | — |  |  | — |  |  | 3,614 |  |  | — |  |  | 3,914
﻿Repayment of debt |  | (300) |  |  | — |  |  | (8) |  |  | (3,736) |  |  | — |  |  | (4,044)
﻿Debt issuance costs paid |  | — |  |  | — |  |  | (1) |  |  | (48) |  |  | — |  |  | (49)
﻿Maintenance payments received |  | — |  |  | — |  |  | 19 |  |  | 757 |  |  | — |  |  | 776
﻿Maintenance payments returned |  | — |  |  | — |  |  | (20) |  |  | (538) |  |  | — |  |  | (558)
﻿Security deposits received |  | — |  |  | — |  |  | 20 |  |  | 151 |  |  | — |  |  | 171
﻿Security deposits returned |  | — |  |  | — |  |  | (7) |  |  | (137) |  |  | — |  |  | (144)
﻿Repurchase of shares and tax withholdings on share-based compensation |  | (794) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (794)
﻿Net cash (used in) provided by financing activities |  | (794) |  |  | — |  |  | 3 |  |  | 63 |  |  | — |  |  | (728)
﻿Net increase in cash and cash equivalents |  | 6 |  |  | — |  |  | 386 |  |  | 524 |  |  | — |  |  | 916
﻿Effect of exchange rate changes |  | 1 |  |  | — |  |  | (9) |  |  | 5 |  |  | — |  |  | (3)
﻿Cash and cash equivalents at beginning of period |  | 7 |  |  | — |  |  | 816 |  |  | 667 |  |  | — |  |  | 1,490
﻿Cash and cash equivalents at end of period | $ | 14 |  | $ | — |  | $ | 1,193 |  | $ | 1,196 |  | $ | — |  | $ | 2,403
﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Condensed Consolidating Statement of Cash Flows
﻿ | Year Ended December 31, 2014
﻿ | AerCap Holdings N.V. |  | AerCap Aviation Solutions B.V. |  | AerCap Ireland Ltd. |  | Non- Guarantors |  | Eliminations |  | Total
﻿ | (U.S. dollar amounts in millions)
﻿Net income (loss) | $ | 810 |  | $ | (20) |  | $ | 700 |  | $ | 900 |  | $ | (1,582) |  | $ | 808
﻿Adjustments to reconcile net income (loss) to net cash provided by operating activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿(Income) loss from subsidiaries |  | (882) |  |  | — |  |  | (869) |  |  | 169 |  |  | 1,582 |  |  | —
﻿Dividend received |  | — |  |  | — |  |  | 12 |  |  | — |  |  | (12) |  |  | —
﻿Depreciation and amortization |  | — |  |  | — |  |  | 9 |  |  | 1,273 |  |  | — |  |  | 1,282
﻿Asset impairment |  | — |  |  | — |  |  | — |  |  | 22 |  |  | — |  |  | 22
﻿Amortization of debt issuance costs and debt discount |  | 3 |  |  | 1 |  |  | — |  |  | 82 |  |  | — |  |  | 86
﻿Amortization of lease premium intangibles |  | — |  |  | — |  |  | — |  |  | 18 |  |  | — |  |  | 18
﻿Amortization of fair value adjustments on debt |  | — |  |  | — |  |  | — |  |  | (331) |  |  | — |  |  | (331)
﻿Accretion of fair value adjustments on deposits and maintenance liabilities |  | — |  |  | — |  |  | — |  |  | 72 |  |  | — |  |  | 72
﻿Maintenance rights write off |  | — |  |  | — |  |  | — |  |  | 131 |  |  | — |  |  | 131
﻿Maintenance liability release to income |  | — |  |  | — |  |  | — |  |  | (92) |  |  | — |  |  | (92)
﻿Net gain on sale of assets |  | — |  |  | — |  |  | (10) |  |  | (27) |  |  | — |  |  | (37)
﻿Deferred income taxes |  | — |  |  | — |  |  | 93 |  |  | 23 |  |  | — |  |  | 116
﻿Other |  | 43 |  |  | — |  |  | 7 |  |  | 52 |  |  | — |  |  | 102
﻿Cash flow from operating activities before changes in working capital |  | (26) |  |  | (19) |  |  | (58) |  |  | 2,292 |  |  | (12) |  |  | 2,177
﻿Working capital |  | 163 |  |  | 19 |  |  | 1,131 |  |  | (1,176) |  |  | — |  |  | 137
﻿Net cash provided by (used in) operating activities |  | 137 |  |  | — |  |  | 1,073 |  |  | 1,116 |  |  | (12) |  |  | 2,314
﻿Purchase of flight equipment |  | — |  |  | — |  |  | (1,198) |  |  | (892) |  |  | — |  |  | (2,090)
﻿Proceeds from sale or disposal of assets |  | 21 |  |  | — |  |  | 737 |  |  | (188) |  |  | — |  |  | 570
﻿Prepayments on flight equipment |  | — |  |  | — |  |  | (2) |  |  | (456) |  |  | — |  |  | (458)
﻿Acquisition of ILFC, net of cash acquired |  | — |  |  | — |  |  | — |  |  | (195) |  |  | — |  |  | (195)
﻿Collections of finance and sales-type leases |  | — |  |  | — |  |  | — |  |  | 41 |  |  | — |  |  | 41
﻿Movement in restricted cash |  | — |  |  | — |  |  | 1 |  |  | 281 |  |  | — |  |  | 282
﻿Net cash provided by (used in) investing activities |  | 21 |  |  | — |  |  | (462) |  |  | (1,409) |  |  | — |  |  | (1,850)
﻿Issuance of debt |  | 75 |  |  | — |  |  | 43 |  |  | 5,294 |  |  | — |  |  | 5,412
﻿Repayment of debt |  | (225) |  |  | — |  |  | (10) |  |  | (4,592) |  |  | — |  |  | (4,827)
﻿Debt issuance costs paid |  | — |  |  | — |  |  | — |  |  | (135) |  |  | — |  |  | (135)
﻿Maintenance payments received |  | — |  |  | — |  |  | 26 |  |  | 536 |  |  | — |  |  | 562
﻿Maintenance payments returned |  | — |  |  | — |  |  | — |  |  | (286) |  |  | — |  |  | (286)
﻿Security deposits received |  | — |  |  | — |  |  | 9 |  |  | 98 |  |  | — |  |  | 107
﻿Security deposits returned |  | — |  |  | — |  |  | (2) |  |  | (97) |  |  | — |  |  | (99)
﻿Dividend paid |  | — |  |  | — |  |  | — |  |  | (12) |  |  | 12 |  |  | —
﻿Net cash (used in) provided by financing activities |  | (150) |  |  | — |  |  | 66 |  |  | 806 |  |  | 12 |  |  | 734
﻿Net increase in cash and cash equivalents |  | 8 |  |  | — |  |  | 677 |  |  | 513 |  |  | — |  |  | 1,198
﻿Effect of exchange rate changes |  | (1) |  |  | — |  |  | (1) |  |  | (2) |  |  | — |  |  | (4)
﻿Cash and cash equivalents at beginning of period |  | — |  |  | — |  |  | 140 |  |  | 156 |  |  | — |  |  | 296
﻿Cash and cash equivalents at end of period | $ | 7 |  | $ | — |  | $ | 816 |  | $ | 667 |  | $ | — |  | $ | 1,490
﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Condensed Consolidating Statement of Comprehensive Income
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿ | Year Ended December 31, 2016
﻿ | AerCap Holdings N.V. |  | AerCap Aviation Solutions B.V. |  | AerCap Ireland Ltd. |  | Non- Guarantors |  | Eliminations |  | Total
﻿ | (U.S. dollar amounts in millions)
﻿Net income (loss) attributable to AerCap Holdings N.V. | $ | 1,047 |  | $ | (15) |  | $ | 979 |  | $ | 1,109 |  | $ | (2,073) |  | $ | 1,047
﻿Other comprehensive (loss) income: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Net change in fair value of derivatives, net of tax |  | — |  |  | — |  |  | — |  |  | 6 |  |  | — |  |  | 6
﻿Actuarial loss on pension obligations, net of tax |  | — |  |  | — |  |  | (2) |  |  | — |  |  | — |  |  | (2)
﻿Total other comprehensive (loss) income |  | — |  |  | — |  |  | (2) |  |  | 6 |  |  | — |  |  | 4
﻿Total comprehensive income (loss) attributable to AerCap Holdings N.V. | $ | 1,047 |  | $ | (15) |  | $ | 977 |  | $ | 1,115 |  | $ | (2,073) |  | $ | 1,051
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿ ﻿
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Condensed Consolidating Statement of Comprehensive Income
﻿ | Year Ended December 31, 2015
﻿ | AerCap Holdings N.V. |  | AerCap Aviation Solutions B.V. |  | AerCap Ireland Ltd. |  | Non- Guarantors |  | Eliminations |  | Total
﻿ | (U.S. dollar amounts in millions)
﻿Net income (loss) attributable to AerCap Holdings N.V. | $ | 1,179 |  | $ | (15) |  | $ | 1,072 |  | $ | 1,277 |  | $ | (2,334) |  | $ | 1,179
﻿Other comprehensive income: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Net change in fair value of derivatives, net of tax |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | —
﻿Actuarial gain on pension obligations, net of tax |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | —
﻿Total other comprehensive income |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | —
﻿Total comprehensive income (loss) attributable to AerCap Holdings N.V. | $ | 1,179 |  | $ | (15) |  | $ | 1,072 |  | $ | 1,277 |  | $ | (2,334) |  | $ | 1,179
﻿ ﻿ ﻿ ﻿ ﻿ ﻿
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Condensed Consolidating Statement of Comprehensive Income
﻿ | Year Ended December 31, 2014
﻿ | AerCap Holdings N.V. |  | AerCap Aviation Solutions B.V. |  | AerCap Ireland Ltd. |  | Non- Guarantors |  | Eliminations |  | Total
﻿ | (U.S. dollar amounts in millions)
﻿Net income (loss) attributable to AerCap Holdings N.V. | $ | 810 |  | $ | (20) |  | $ | 700 |  | $ | 902 |  | $ | (1,582) |  | $ | 810
﻿Other comprehensive income: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Net change in fair value of derivatives, net of tax |  | — |  |  | — |  |  | — |  |  | 5 |  |  | — |  |  | 5
﻿Actuarial gain (loss) on pension obligations, net of tax |  | — |  |  | — |  |  | 3 |  |  | (5) |  |  | — |  |  | (2)
﻿Total other comprehensive income |  | — |  |  | — |  |  | 3 |  |  | — |  |  | — |  |  | 3
﻿Share of other comprehensive income (loss) from subsidiaries |  | 3 |  |  | — |  |  | — |  |  | — |  |  | (3) |  |  | —
﻿Total comprehensive income (loss) attributable to AerCap Holdings N.V. | $ | 813 |  | $ | (20) |  | $ | 703 |  | $ | 902 |  | $ | (1,585) |  | $ | 813
﻿ ﻿ ﻿ ﻿ ﻿ AGAT/AICDC Notes ﻿ In May 2014, AerCap Trust and AICDC co-issued the Acquisition Notes. ﻿ In September 2014, AerCap Trust and AICDC co-issued the September 2014 Notes. ﻿ In June 2015, AerCap Trust and AICDC co-issued the June 2015 Notes. ﻿ In October 2015, AerCap Trust and AICDC co-issued the October 2015 Notes. ﻿ In May 2016, AerCap Trust and AICDC co-issued the May 2016 Notes. ﻿ In January 2017, AerCap Trust and AICDC co-issued the January 2017 Notes. ﻿ The AGAT/AIC DC Notes are jointly and severally and fully and unconditionally guaranteed by the Parent Guarantor and by AerCap Ireland, AerCap Aviation Solutions, International Lease Finance Corporation and AerCap U.S. Global Aviation LLC (together, the “Subsidiary Guarantors”). ﻿ The following condensed consolidating financial information presents the Condensed Consolidating Balance Sheet s as of December 31, 2016 and 2015, the Condensed Consolidating Income Statement s, Condensed Consolidating Statements of Cash Flows and Condensed Consolidating Statement s of Comprehensive Income for the years ended December 31, 2016, 2015 and 2014 of (i) the Parent Guarantor; (ii) AerCap Trust; (iii) AICDC; (iv) the Subsidiary Guarantors on a combined basis; (v) the non-guarantor subsidiaries on a combined b asis; (vi) elimination entries necessary to consolidate the Parent Guarantor with AerCap Trust and AICDC, the Subsidiary Guarantors and the non-guarantor subsidiaries; and (vii) the Company on a consolidated basis. Investments in consolidated subsidiaries are presented under the equity method of accounting. A portion of our cash and cash equivalents is held by subsidiaries and access to such cash by us for group purposes is limited. In accordance with Rule 3-10 of Regulation S-X, separate financial statements and other disclosures with respect to AerCap Trust, AICDC and the Subsidiary Guarantors have not been provided, as AerCap Trust, AICDC and the Subsidiary Guarantors are 100%-owned by the Parent Guarantor, all guarantees of the AGAT/AICDC Notes are joint and several and full and unconditional and the Parent Guarantor’s financial statements have been filed in this annual report for the periods specified by Rules 3-01 and 3-02 of Regulation S-X. ﻿
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Condensed Consolidating Balance Sheet
﻿ |  | December 31, 2016
﻿ |  | AerCap Holdings N.V. |  | AerCap Global Aviation Trust |  | AerCap Ireland Capital Designated Activity Company |  | Guarantors (a) |  | Non- Guarantors |  | Eliminations |  | Total
﻿ |  | (U.S. dollar amounts in millions)
﻿Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Cash and cash equivalents |  | $ | 4 |  | $ | 829 |  | $ | 64 |  | $ | 931 |  | $ | 207 |  | $ | — |  | $ | 2,035
﻿Restricted cash |  |  | — |  |  | — |  |  | — |  |  | 9 |  |  | 320 |  |  | — |  |  | 329
﻿Flight equipment held for operating leases, net |  |  | — |  |  | 11,012 |  |  | — |  |  | 1,299 |  |  | 19,191 |  |  | — |  |  | 31,502
﻿Maintenance rights intangible and lease premium, net |  |  | — |  |  | 1,190 |  |  | — |  |  | 52 |  |  | 926 |  |  | — |  |  | 2,168
﻿Flight equipment held for sale |  |  | — |  |  | 28 |  |  | — |  |  | — |  |  | 79 |  |  | — |  |  | 107
﻿Net investment in finance and sales-type leases |  |  | — |  |  | 437 |  |  | — |  |  | 166 |  |  | 154 |  |  | — |  |  | 757
﻿Prepayments on flight equipment |  |  | — |  |  | 3,006 |  |  | — |  |  | 5 |  |  | 255 |  |  | — |  |  | 3,266
﻿Investments including investments in subsidiaries |  |  | 9,310 |  |  | 874 |  |  | 7,249 |  |  | 4,941 |  |  | 119 |  |  | (22,374) |  |  | 119
﻿Intercompany receivables |  |  | 106 |  |  | 12,639 |  |  | 1 |  |  | 8,405 |  |  | 5,947 |  |  | (27,098) |  |  | —
﻿Other assets |  |  | 104 |  |  | 538 |  |  | 60 |  |  | 632 |  |  | 171 |  |  | (168) |  |  | 1,337
﻿Total Assets |  | $ | 9,524 |  | $ | 30,553 |  | $ | 7,374 |  | $ | 16,440 |  | $ | 27,369 |  | $ | (49,640) |  | $ | 41,620
﻿Liabilities and Equity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Debt |  | $ | — |  | $ | 17,316 |  | $ | — |  | $ | 340 |  | $ | 10,061 |  | $ | — |  | $ | 27,717
﻿Intercompany payables |  |  | 978 |  |  | 3,726 |  |  | 5,057 |  |  | 7,067 |  |  | 10,270 |  |  | (27,098) |  |  | —
﻿Other liabilities |  |  | 22 |  |  | 2,241 |  |  | 11 |  |  | 448 |  |  | 2,767 |  |  | (168) |  |  | 5,321
﻿Total liabilities |  |  | 1,000 |  |  | 23,283 |  |  | 5,068 |  |  | 7,855 |  |  | 23,098 |  |  | (27,266) |  |  | 33,038
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Total AerCap Holdings N.V. shareholders' equity |  |  | 8,524 |  |  | 7,270 |  |  | 2,306 |  |  | 8,509 |  |  | 4,289 |  |  | (22,374) |  |  | 8,524
﻿Non-controlling interest |  |  | — |  |  | — |  |  | — |  |  | 76 |  |  | (18) |  |  | — |  |  | 58
﻿Total Equity |  |  | 8,524 |  |  | 7,270 |  |  | 2,306 |  |  | 8,585 |  |  | 4,271 |  |  | (22,374) |  |  | 8,582
﻿Total Liabilities and Equity |  | $ | 9,524 |  | $ | 30,553 |  | $ | 7,374 |  | $ | 16,440 |  | $ | 27,369 |  | $ | (49,640) |  | $ | 41,620
﻿
| (a) |  | Guarantors consist of AerCap U.S. Global Aviation LLC, AerCap Aviation Solutions B.V., AerCap Ireland Ltd. and ILFC.
﻿
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Condensed Consolidating Balance Sheet
﻿ |  | December 31, 2015
﻿ |  | AerCap Holdings N.V. |  | AerCap Global Aviation Trust |  | AerCap Ireland Capital Designated Activity Company |  | Guarantors (a) |  | Non- Guarantors |  | Eliminations |  | Total
﻿ |  | (U.S. dollar amounts in millions)
﻿Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Cash and cash equivalents |  | $ | 14 |  | $ | 769 |  | $ | 62 |  | $ | 1,366 |  | $ | 192 |  | $ | — |  | $ | 2,403
﻿Restricted cash |  |  | — |  |  | — |  |  | — |  |  | 18 |  |  | 401 |  |  | — |  |  | 419
﻿Flight equipment held for operating leases, net |  |  | — |  |  | 13,913 |  |  | — |  |  | 1,171 |  |  | 17,135 |  |  | — |  |  | 32,219
﻿Maintenance rights intangible and lease premium, net |  |  | — |  |  | 1,789 |  |  | — |  |  | 82 |  |  | 1,268 |  |  | — |  |  | 3,139
﻿Flight equipment held for sale |  |  | — |  |  | 12 |  |  | — |  |  | — |  |  | 59 |  |  | — |  |  | 71
﻿Net investment in finance and sales-type leases |  |  | — |  |  | 193 |  |  | — |  |  | 57 |  |  | 219 |  |  | — |  |  | 469
﻿Prepayments on flight equipment |  |  | — |  |  | 3,022 |  |  | — |  |  | 6 |  |  | 272 |  |  | — |  |  | 3,300
﻿Investments including investments in subsidiaries |  |  | 8,290 |  |  | 633 |  |  | 6,319 |  |  | 4,211 |  |  | 115 |  |  | (19,453) |  |  | 115
﻿Intercompany receivables |  |  | 46 |  |  | 11,541 |  |  | — |  |  | 6,152 |  |  | 5,739 |  |  | (23,478) |  |  | —
﻿Other assets |  |  | 61 |  |  | 619 |  |  | 41 |  |  | 580 |  |  | 342 |  |  | (29) |  |  | 1,614
﻿Total Assets |  | $ | 8,411 |  | $ | 32,491 |  | $ | 6,422 |  | $ | 13,643 |  | $ | 25,742 |  | $ | (42,960) |  | $ | 43,749
﻿Liabilities and Equity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Debt |  | $ | — |  | $ | 19,456 |  | $ | — |  | $ | 375 |  | $ | 9,811 |  | $ | — |  | $ | 29,642
﻿Intercompany payables |  |  | 4 |  |  | 4,025 |  |  | 4,872 |  |  | 5,473 |  |  | 9,104 |  |  | (23,478) |  |  | —
﻿Other liabilities |  |  | 58 |  |  | 2,676 |  |  | 14 |  |  | 234 |  |  | 2,728 |  |  | (29) |  |  | 5,681
﻿Total liabilities |  |  | 62 |  |  | 26,157 |  |  | 4,886 |  |  | 6,082 |  |  | 21,643 |  |  | (23,507) |  |  | 35,323
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Total AerCap Holdings N.V. shareholders' equity |  |  | 8,349 |  |  | 6,334 |  |  | 1,536 |  |  | 7,484 |  |  | 4,099 |  |  | (19,453) |  |  | 8,349
﻿Non-controlling interest |  |  | — |  |  | — |  |  | — |  |  | 77 |  |  | — |  |  | — |  |  | 77
﻿Total Equity |  |  | 8,349 |  |  | 6,334 |  |  | 1,536 |  |  | 7,561 |  |  | 4,099 |  |  | (19,453) |  |  | 8,426
﻿Total Liabilities and Equity |  | $ | 8,411 |  | $ | 32,491 |  | $ | 6,422 |  | $ | 13,643 |  | $ | 25,742 |  | $ | (42,960) |  | $ | 43,749
﻿ ﻿
| (a) |  | Guarantors consist of AerCap U.S. Global Aviation LLC, AerCap Aviation Solutions B.V., AerCap Ireland Ltd. and ILFC.
﻿ ﻿ ﻿
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Condensed Consolidating Income Statement
﻿ | Year Ended December 31, 2016
﻿ | AerCap Holdings N.V. |  | AerCap Global Aviation Trust |  | AerCap Ireland Capital Designated Activity Company |  | Guarantors (a) |  | Non- Guarantors |  | Eliminations |  | Total
﻿ | (U.S. dollar amounts in millions)
﻿Revenues and other income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Lease revenue | $ | — |  | $ | 2,058 |  | $ | — |  | $ | 205 |  | $ | 2,605 |  | $ | — |  | $ | 4,868
﻿Net gain on sale of assets |  | — |  |  | 33 |  |  | — |  |  | 6 |  |  | 100 |  |  | — |  |  | 139
﻿Other income (loss) |  | 6 |  |  | 653 |  |  | — |  |  | 552 |  |  | 359 |  |  | (1,425) |  |  | 145
﻿Total Revenues and other income |  | 6 |  |  | 2,744 |  |  | — |  |  | 763 |  |  | 3,064 |  |  | (1,425) |  |  | 5,152
﻿Expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Depreciation and amortization |  | — |  |  | 770 |  |  | — |  |  | 72 |  |  | 949 |  |  | — |  |  | 1,791
﻿Asset impairment |  | — |  |  | 32 |  |  | — |  |  | — |  |  | 50 |  |  | — |  |  | 82
﻿Interest expense |  | — |  |  | 753 |  |  | 184 |  |  | 385 |  |  | 955 |  |  | (1,185) |  |  | 1,092
﻿Leasing expenses |  | — |  |  | 290 |  |  | — |  |  | 27 |  |  | 266 |  |  | — |  |  | 583
﻿Transaction, integration and restructuring related expenses |  | — |  |  | — |  |  | — |  |  | — |  |  | 53 |  |  | — |  |  | 53
﻿Selling, general and administrative expenses |  | 60 |  |  | 120 |  |  | 1 |  |  | 102 |  |  | 308 |  |  | (240) |  |  | 351
﻿Total Expenses |  | 60 |  |  | 1,965 |  |  | 185 |  |  | 586 |  |  | 2,581 |  |  | (1,425) |  |  | 3,952
﻿(Loss) income before income taxes and income of investments accounted for under the equity method |  | (54) |  |  | 779 |  |  | (185) |  |  | 177 |  |  | 483 |  |  | — |  |  | 1,200
﻿Provision for income taxes |  | 7 |  |  | (97) |  |  | 23 |  |  | (36) |  |  | (70) |  |  | — |  |  | (173)
﻿Equity in net earnings of investments accounted for under the equity method |  | — |  |  | — |  |  | — |  |  | — |  |  | 13 |  |  | — |  |  | 13
﻿Net (loss) income before income from subsidiaries |  | (47) |  |  | 682 |  |  | (162) |  |  | 141 |  |  | 426 |  |  | — |  |  | 1,040
﻿Income (loss) from subsidiaries |  | 1,094 |  |  | 237 |  |  | 919 |  |  | 701 |  |  | (867) |  |  | (2,084) |  |  | —
﻿Net income (loss) |  | 1,047 |  |  | 919 |  |  | 757 |  |  | 842 |  |  | (441) |  |  | (2,084) |  |  | 1,040
﻿Net loss attributable to non-controlling interest |  | — |  |  | — |  |  | — |  |  | — |  |  | 7 |  |  | — |  |  | 7
﻿Net income (loss) attributable to AerCap Holdings N.V. | $ | 1,047 |  | $ | 919 |  | $ | 757 |  | $ | 842 |  | $ | (434) |  | $ | (2,084) |  | $ | 1,047
﻿ ﻿ ﻿
| (a) |  | Guarantors consist of AerCap U.S. Global Aviation LLC, AerCap Aviation Solutions B.V., AerCap Ireland Ltd. and ILFC.
﻿
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Condensed Consolidating Income Statement
﻿ | Year Ended December 31, 2015
﻿ | AerCap Holdings N.V. |  | AerCap Global Aviation Trust |  | AerCap Ireland Capital Designated Activity Company |  | Guarantors (a) |  | Non- Guarantors |  | Eliminations |  | Total
﻿ | (U.S. dollar amounts in millions)
﻿Revenues and other income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Lease revenue | $ | — |  | $ | 2,355 |  | $ | — |  | $ | 134 |  | $ | 2,503 |  | $ | — |  | $ | 4,992
﻿Net gain on sale of assets |  | — |  |  | 168 |  |  | — |  |  | 13 |  |  | 2 |  |  | — |  |  | 183
﻿Other income (loss) |  | 9 |  |  | 599 |  |  | 14 |  |  | 479 |  |  | 319 |  |  | (1,307) |  |  | 113
﻿Total Revenues and other income |  | 9 |  |  | 3,122 |  |  | 14 |  |  | 626 |  |  | 2,824 |  |  | (1,307) |  |  | 5,288
﻿Expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Depreciation and amortization |  | — |  |  | 868 |  |  | — |  |  | 65 |  |  | 910 |  |  | — |  |  | 1,843
﻿Asset impairment |  | — |  |  | 3 |  |  | — |  |  | — |  |  | 13 |  |  | — |  |  | 16
﻿Interest expense |  | 12 |  |  | 780 |  |  | 164 |  |  | 359 |  |  | 735 |  |  | (950) |  |  | 1,100
﻿Leasing expenses |  | — |  |  | 266 |  |  | — |  |  | 61 |  |  | 195 |  |  | — |  |  | 522
﻿Transaction, integration and restructuring related expenses |  | — |  |  | — |  |  | — |  |  | 9 |  |  | 50 |  |  | — |  |  | 59
﻿Selling, general and administrative expenses |  | 108 |  |  | 112 |  |  | — |  |  | 257 |  |  | 262 |  |  | (357) |  |  | 382
﻿Total Expenses |  | 120 |  |  | 2,029 |  |  | 164 |  |  | 751 |  |  | 2,165 |  |  | (1,307) |  |  | 3,922
﻿(Loss) income before income taxes and income of investments accounted for under the equity method |  | (111) |  |  | 1,093 |  |  | (150) |  |  | (125) |  |  | 659 |  |  | — |  |  | 1,366
﻿Provision for income taxes |  | 28 |  |  | (136) |  |  | 19 |  |  | 38 |  |  | (139) |  |  | — |  |  | (190)
﻿Equity in net earnings of investments accounted for under the equity method |  | — |  |  | — |  |  | — |  |  | — |  |  | 1 |  |  | — |  |  | 1
﻿Net (loss) income before income from subsidiaries |  | (83) |  |  | 957 |  |  | (131) |  |  | (87) |  |  | 521 |  |  | — |  |  | 1,177
﻿Income (loss) from subsidiaries |  | 1,262 |  |  | 104 |  |  | 1,060 |  |  | 933 |  |  | (1,090) |  |  | (2,269) |  |  | —
﻿Net income (loss) |  | 1,179 |  |  | 1,061 |  |  | 929 |  |  | 846 |  |  | (569) |  |  | (2,269) |  |  | 1,177
﻿Net loss attributable to non-controlling interest |  | — |  |  | — |  |  | — |  |  | — |  |  | 2 |  |  | — |  |  | 2
﻿Net income (loss) attributable to AerCap Holdings N.V. | $ | 1,179 |  | $ | 1,061 |  | $ | 929 |  | $ | 846 |  | $ | (567) |  | $ | (2,269) |  | $ | 1,179
﻿ ﻿ ﻿
| (a) |  | Guarantors consist of AerCap U.S. Global Aviation LLC, AerCap Aviation Solutions B.V., AerCap Ireland Ltd. and ILFC.
﻿ ﻿ ﻿
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Condensed Consolidating Income Statement
﻿ | Year Ended December 31, 2014
﻿ | AerCap Holdings N.V. |  | AerCap Global Aviation Trust |  | AerCap Ireland Capital Designated Activity Company |  | Guarantors (a) |  | Non- Guarantors |  | Eliminations |  | Total
﻿ | (U.S. dollar amounts in millions)
﻿Revenues and other income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Lease revenue | $ | — |  | $ | 789 |  | $ | 10 |  | $ | 220 |  | $ | 2,431 |  | $ | — |  | $ | 3,450
﻿Net gain on sale of assets |  | — |  |  | 8 |  |  | — |  |  | 10 |  |  | 20 |  |  | — |  |  | 38
﻿Other income (loss) |  | 25 |  |  | 317 |  |  | — |  |  | 333 |  |  | 342 |  |  | (913) |  |  | 104
﻿Total Revenues and other income |  | 25 |  |  | 1,114 |  |  | 10 |  |  | 563 |  |  | 2,793 |  |  | (913) |  |  | 3,592
﻿Expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Depreciation and amortization |  | — |  |  | 501 |  |  | — |  |  | 53 |  |  | 728 |  |  | — |  |  | 1,282
﻿Asset impairment |  | — |  |  | 3 |  |  | — |  |  | — |  |  | 19 |  |  | — |  |  | 22
﻿Interest expense |  | 13 |  |  | 443 |  |  | 18 |  |  | 317 |  |  | 715 |  |  | (725) |  |  | 781
﻿Leasing expenses |  | — |  |  | (446) |  |  | 11 |  |  | 124 |  |  | 453 |  |  | — |  |  | 142
﻿Transaction, integration and restructuring related expenses |  | — |  |  | — |  |  | 94 |  |  | 26 |  |  | 29 |  |  | — |  |  | 149
﻿Selling, general and administrative expenses |  | 83 |  |  | 80 |  |  | 3 |  |  | 142 |  |  | 180 |  |  | (188) |  |  | 300
﻿Total Expenses |  | 96 |  |  | 581 |  |  | 126 |  |  | 662 |  |  | 2,124 |  |  | (913) |  |  | 2,676
﻿(Loss) income before income taxes and income of investments accounted for under the equity method |  | (71) |  |  | 533 |  |  | (116) |  |  | (99) |  |  | 669 |  |  | — |  |  | 916
﻿Provision for income taxes |  | (1) |  |  | (56) |  |  | 10 |  |  | (33) |  |  | (57) |  |  | — |  |  | (137)
﻿Equity in net earnings of investments accounted for under the equity method |  | — |  |  | — |  |  | — |  |  | — |  |  | 29 |  |  | — |  |  | 29
﻿Net (loss) income before income from subsidiaries |  | (72) |  |  | 477 |  |  | (106) |  |  | (132) |  |  | 641 |  |  | — |  |  | 808
﻿Income (loss) from subsidiaries |  | 882 |  |  | 205 |  |  | 683 |  |  | 988 |  |  | 79 |  |  | (2,837) |  |  | —
﻿Net income (loss) |  | 810 |  |  | 682 |  |  | 577 |  |  | 856 |  |  | 720 |  |  | (2,837) |  |  | 808
﻿Net loss attributable to non-controlling interest |  | — |  |  | — |  |  | — |  |  | — |  |  | 2 |  |  | — |  |  | 2
﻿Net income (loss) attributable to AerCap Holdings N.V. | $ | 810 |  | $ | 682 |  | $ | 577 |  | $ | 856 |  | $ | 722 |  | $ | (2,837) |  | $ | 810
﻿ ﻿ ﻿ ﻿
| (a) |  | Guarantors consist of AerCap U.S. Global Aviation LLC, AerCap Aviation Solutions B.V., AerCap Ireland Ltd. and ILFC. ILFC was acquired on May 14, 2014 and is not included prior to its acquisition date.
﻿ ﻿
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Condensed Consolidating Statement of Cash Flows
﻿ | Year Ended December 31, 2016
﻿ | AerCap Holdings N.V. |  | AerCap Global Aviation Trust |  | AerCap Ireland Capital Designated Activity Company |  | Guarantors (a) |  | Non- Guarantors |  | Eliminations |  | Total
﻿ | (U.S. dollar amounts in millions)
﻿Net income (loss) | $ | 1,047 |  | $ | 919 |  | $ | 757 |  | $ | 842 |  | $ | (441) |  | $ | (2,084) |  | $ | 1,040
﻿Adjustments to reconcile net income (loss) to net cash provided by operating activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿(Income) loss from subsidiaries |  | (1,094) |  |  | (237) |  |  | (919) |  |  | (701) |  |  | 867 |  |  | 2,084 |  |  | —
﻿Depreciation and amortization |  | — |  |  | 770 |  |  | — |  |  | 72 |  |  | 949 |  |  | — |  |  | 1,791
﻿Asset impairment |  | — |  |  | 32 |  |  | — |  |  | — |  |  | 50 |  |  | — |  |  | 82
﻿Amortization of debt issuance costs and debt discount |  | — |  |  | 13 |  |  | 5 |  |  | 4 |  |  | 34 |  |  | — |  |  | 56
﻿Amortization of lease premium intangibles |  | — |  |  | 7 |  |  | — |  |  | — |  |  | 13 |  |  | — |  |  | 20
﻿Amortization of fair value adjustments on debt |  | — |  |  | (330) |  |  | — |  |  | — |  |  | (6) |  |  | — |  |  | (336)
﻿Accretion of fair value adjustments on deposits and maintenance liabilities |  | — |  |  | 33 |  |  | — |  |  | 2 |  |  | 20 |  |  | — |  |  | 55
﻿Maintenance rights write off |  | — |  |  | 395 |  |  | — |  |  | 22 |  |  | 235 |  |  | — |  |  | 652
﻿Maintenance liability release to income |  | — |  |  | (206) |  |  | — |  |  | (19) |  |  | (196) |  |  | — |  |  | (421)
﻿Net gain on sale of assets |  | — |  |  | (33) |  |  | — |  |  | (6) |  |  | (100) |  |  | — |  |  | (139)
﻿Deferred income taxes |  | (7) |  |  | 98 |  |  | (22) |  |  | 28 |  |  | 64 |  |  | — |  |  | 161
﻿Restructuring expenses |  | — |  |  | — |  |  | — |  |  | — |  |  | 34 |  |  | — |  |  | 34
﻿Other |  | 63 |  |  | 13 |  |  | — |  |  | (7) |  |  | 53 |  |  | — |  |  | 122
﻿Cash flow from operating activities before changes in working capital |  | 9 |  |  | 1,474 |  |  | (179) |  |  | 237 |  |  | 1,576 |  |  | — |  |  | 3,117
﻿Working capital |  | 1,002 |  |  | 911 |  |  | 181 |  |  | (545) |  |  | (1,285) |  |  | — |  |  | 264
﻿Net cash provided by (used in) operating activities |  | 1,011 |  |  | 2,385 |  |  | 2 |  |  | (308) |  |  | 291 |  |  | — |  |  | 3,381
﻿Purchase of flight equipment |  | — |  |  | (594) |  |  | — |  |  | (298) |  |  | (2,001) |  |  | — |  |  | (2,893)
﻿Proceeds from sale or disposal of assets |  | — |  |  | 998 |  |  | — |  |  | 158 |  |  | 1,211 |  |  | — |  |  | 2,367
﻿Prepayments on flight equipment |  | — |  |  | (937) |  |  | — |  |  | (9) |  |  | (1) |  |  | — |  |  | (947)
﻿Collections of finance and sales-type leases |  | — |  |  | 26 |  |  | — |  |  | 22 |  |  | 26 |  |  | — |  |  | 74
﻿Movement in restricted cash |  | — |  |  | — |  |  | — |  |  | 9 |  |  | 81 |  |  | — |  |  | 90
﻿Other |  | — |  |  | — |  |  | — |  |  | (22) |  |  | — |  |  | — |  |  | (22)
﻿Net cash used in investing activities |  | — |  |  | (507) |  |  | — |  |  | (140) |  |  | (684) |  |  | — |  |  | (1,331)
﻿Issuance of debt |  | — |  |  | 1,012 |  |  | 35 |  |  | — |  |  | 2,595 |  |  | — |  |  | 3,642
﻿Repayment of debt |  | — |  |  | (2,825) |  |  | (35) |  |  | (8) |  |  | (2,346) |  |  | — |  |  | (5,214)
﻿Debt issuance costs paid |  | — |  |  | (9) |  |  | — |  |  | (2) |  |  | (24) |  |  | — |  |  | (35)
﻿Maintenance payments received |  | — |  |  | 292 |  |  | — |  |  | 39 |  |  | 465 |  |  | — |  |  | 796
﻿Maintenance payments returned |  | — |  |  | (234) |  |  | — |  |  | (30) |  |  | (241) |  |  | — |  |  | (505)
﻿Security deposits received |  | — |  |  | 57 |  |  | — |  |  | 25 |  |  | 120 |  |  | — |  |  | 202
﻿Security deposits returned |  | — |  |  | (111) |  |  | — |  |  | (10) |  |  | (150) |  |  | — |  |  | (271)
﻿Dividend paid to non-controlling interest holders |  | — |  |  | — |  |  | — |  |  | — |  |  | (11) |  |  | — |  |  | (11)
﻿Repurchase of shares and tax withholdings on share-based compensation |  | (1,021) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (1,021)
﻿Net cash (used in) provided by financing activities |  | (1,021) |  |  | (1,818) |  |  | — |  |  | 14 |  |  | 408 |  |  | — |  |  | (2,417)
﻿Net (decrease) increase in cash and cash equivalents |  | (10) |  |  | 60 |  |  | 2 |  |  | (434) |  |  | 15 |  |  | — |  |  | (367)
﻿Effect of exchange rate changes |  | — |  |  | — |  |  | — |  |  | (1) |  |  | — |  |  | — |  |  | (1)
﻿Cash and cash equivalents at beginning of period |  | 14 |  |  | 769 |  |  | 62 |  |  | 1,366 |  |  | 192 |  |  | — |  |  | 2,403
﻿Cash and cash equivalents at end of period | $ | 4 |  |  | 829 |  |  | 64 |  |  | 931 |  |  | 207 |  |  | — |  | $ | 2,035
﻿ ﻿
| (a) |  | Guarantors consist of AerCap U.S. Global Aviation LLC, AerCap Aviation Solutions B.V., AerCap Ireland Ltd. and ILFC.
﻿ ﻿ ﻿
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Condensed Consolidating Statement of Cash Flows
﻿ | Year Ended December 31, 2015
﻿ | AerCap Holdings N.V. |  | AerCap Global Aviation Trust |  | AerCap Ireland Capital Designated Activity Company |  | Guarantors (a) |  | Non- Guarantors |  | Eliminations |  | Total
﻿ | (U.S. dollar amounts in millions)
﻿Net income (loss) | $ | 1,179 |  | $ | 1,061 |  | $ | 929 |  | $ | 846 |  | $ | (569) |  | $ | (2,269) |  | $ | 1,177
﻿Adjustments to reconcile net income (loss) to net cash provided by operating activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿(Income) loss from subsidiaries |  | (1,262) |  |  | (104) |  |  | (1,060) |  |  | (933) |  |  | 1,090 |  |  | 2,269 |  |  | —
﻿Depreciation and amortization |  | — |  |  | 868 |  |  | — |  |  | 65 |  |  | 910 |  |  | — |  |  | 1,843
﻿Asset impairment |  | — |  |  | 3 |  |  | — |  |  | — |  |  | 13 |  |  | — |  |  | 16
﻿Amortization of debt issuance costs and debt discount |  | 1 |  |  | 10 |  |  | 5 |  |  | 10 |  |  | 20 |  |  | — |  |  | 46
﻿Amortization of lease premium intangibles |  | — |  |  | 7 |  |  | — |  |  | — |  |  | 16 |  |  | — |  |  | 23
﻿Amortization of fair value adjustments on debt |  | — |  |  | (435) |  |  | — |  |  | — |  |  | (8) |  |  | — |  |  | (443)
﻿Accretion of fair value adjustments on deposits and maintenance liabilities |  | — |  |  | 65 |  |  | — |  |  | 1 |  |  | 10 |  |  | — |  |  | 76
﻿Maintenance rights write off |  | — |  |  | 350 |  |  | — |  |  | 17 |  |  | 262 |  |  | — |  |  | 629
﻿Maintenance liability release to income |  | — |  |  | (141) |  |  | — |  |  | (8) |  |  | (95) |  |  | — |  |  | (244)
﻿Net gain on sale of assets |  | — |  |  | (168) |  |  | — |  |  | (13) |  |  | (2) |  |  | — |  |  | (183)
﻿Deferred income taxes |  | (28) |  |  | 136 |  |  | (19) |  |  | (38) |  |  | 59 |  |  | — |  |  | 110
﻿Restructuring expenses |  | — |  |  | — |  |  | — |  |  | — |  |  | 49 |  |  | — |  |  | 49
﻿Other |  | 64 |  |  | (36) |  |  | — |  |  | 34 |  |  | 28 |  |  | — |  |  | 90
﻿Cash flow from operating activities before changes in working capital |  | (46) |  |  | 1,616 |  |  | (145) |  |  | (19) |  |  | 1,783 |  |  | — |  |  | 3,189
﻿Working capital |  | 846 |  |  | (587) |  |  | 193 |  |  | 618 |  |  | (899) |  |  | — |  |  | 171
﻿Net cash provided by operating activities |  | 800 |  |  | 1,029 |  |  | 48 |  |  | 599 |  |  | 884 |  |  | — |  |  | 3,360
﻿Purchase of flight equipment |  | — |  |  | (1,476) |  |  | — |  |  | (299) |  |  | (997) |  |  | — |  |  | (2,772)
﻿Proceeds from sale or disposal of assets |  | — |  |  | 1,083 |  |  | — |  |  | 94 |  |  | 391 |  |  | — |  |  | 1,568
﻿Prepayments on flight equipment |  | — |  |  | (585) |  |  | — |  |  | — |  |  | (207) |  |  | — |  |  | (792)
﻿Collections of finance and sales-type leases |  | — |  |  | 17 |  |  | — |  |  | 12 |  |  | 26 |  |  | — |  |  | 55
﻿Movement in restricted cash |  | — |  |  | — |  |  | — |  |  | (11) |  |  | 309 |  |  | — |  |  | 298
﻿Other |  | — |  |  | (73) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (73)
﻿Net cash used in investing activities |  | — |  |  | (1,034) |  |  | — |  |  | (204) |  |  | (478) |  |  | — |  |  | (1,716)
﻿Issuance of debt |  | 300 |  |  | 2,500 |  |  | — |  |  | — |  |  | 1,114 |  |  | — |  |  | 3,914
﻿Repayment of debt |  | (300) |  |  | (2,010) |  |  | — |  |  | (8) |  |  | (1,726) |  |  | — |  |  | (4,044)
﻿Debt issuance costs paid |  | — |  |  | (17) |  |  | — |  |  | — |  |  | (32) |  |  | — |  |  | (49)
﻿Maintenance payments received |  | — |  |  | 306 |  |  | — |  |  | 24 |  |  | 446 |  |  | — |  |  | 776
﻿Maintenance payments returned |  | — |  |  | (244) |  |  | — |  |  | (20) |  |  | (294) |  |  | — |  |  | (558)
﻿Security deposits received |  | — |  |  | 97 |  |  | — |  |  | 25 |  |  | 49 |  |  | — |  |  | 171
﻿Security deposits returned |  | — |  |  | (83) |  |  | — |  |  | (47) |  |  | (14) |  |  | — |  |  | (144)
﻿Repurchase of shares and tax withholdings on share-based compensation |  | (794) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (794)
﻿Net cash (used in) provided by financing activities |  | (794) |  |  | 549 |  |  | — |  |  | (26) |  |  | (457) |  |  | — |  |  | (728)
﻿Net increase (decrease) in cash and cash equivalents |  | 6 |  |  | 544 |  |  | 48 |  |  | 369 |  |  | (51) |  |  | — |  |  | 916
﻿Effect of exchange rate changes |  | 1 |  |  | — |  |  | — |  |  | (9) |  |  | 5 |  |  | — |  |  | (3)
﻿Cash and cash equivalents at beginning of period |  | 7 |  |  | 225 |  |  | 14 |  |  | 1,006 |  |  | 238 |  |  | — |  |  | 1,490
﻿Cash and cash equivalents at end of period | $ | 14 |  | $ | 769 |  | $ | 62 |  | $ | 1,366 |  | $ | 192 |  | $ | — |  | $ | 2,403
﻿
| (a) |  | Guarantors consist of AerCap U.S. Global Aviation LLC, AerCap Aviation Solutions B.V., AerCap Ireland Ltd. and ILFC.
﻿ ﻿
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Condensed Consolidating Statement of Cash Flows
﻿ | Year Ended December 31, 2014
﻿ | AerCap Holdings N.V. |  | AerCap Global Aviation Trust |  | AerCap Ireland Capital Designated Activity Company |  | Guarantors (a) |  | Non- Guarantors |  | Eliminations |  | Total
﻿ | (U.S. dollar amounts in millions)
﻿Net income (loss) | $ | 810 |  | $ | 682 |  | $ | 577 |  | $ | 856 |  | $ | 720 |  | $ | (2,837) |  | $ | 808
﻿Adjustments to reconcile net income (loss) to net cash provided by operating activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿(Income) loss from subsidiaries |  | (882) |  |  | (205) |  |  | (683) |  |  | (988) |  |  | (79) |  |  | 2,837 |  |  | —
﻿Dividend received |  | — |  |  | — |  |  | — |  |  | 12 |  |  | — |  |  | (12) |  |  | —
﻿Depreciation and amortization |  | — |  |  | 501 |  |  | — |  |  | 53 |  |  | 728 |  |  | — |  |  | 1,282
﻿Asset impairment |  | — |  |  | 3 |  |  | — |  |  | — |  |  | 19 |  |  | — |  |  | 22
﻿Amortization of debt issuance costs and debt discount |  | 3 |  |  | 304 |  |  | — |  |  | 25 |  |  | (246) |  |  | — |  |  | 86
﻿Amortization of lease premium intangibles |  | — |  |  | 5 |  |  | — |  |  | — |  |  | 13 |  |  | — |  |  | 18
﻿Amortization of fair value adjustments on debt |  | — |  |  | (325) |  |  | — |  |  | — |  |  | (6) |  |  | — |  |  | (331)
﻿Accretion of fair value adjustments on deposits and maintenance liabilities |  | — |  |  | 38 |  |  | — |  |  | 1 |  |  | 33 |  |  | — |  |  | 72
﻿Maintenance rights write off |  | — |  |  | 68 |  |  | — |  |  | 9 |  |  | 54 |  |  | — |  |  | 131
﻿Maintenance liability release to income |  | — |  |  | (24) |  |  | — |  |  | (5) |  |  | (63) |  |  | — |  |  | (92)
﻿Net gain on sale of assets |  | — |  |  | (8) |  |  | — |  |  | (10) |  |  | (20) |  |  | — |  |  | (38)
﻿Deferred income taxes |  | — |  |  | 56 |  |  | 10 |  |  | 33 |  |  | 17 |  |  | — |  |  | 116
﻿Other |  | 43 |  |  | — |  |  | — |  |  | 17 |  |  | 42 |  |  | — |  |  | 102
﻿Cash flow from operating activities before changes in working capital |  | (26) |  |  | 1,095 |  |  | (96) |  |  | 3 |  |  | 1,212 |  |  | (12) |  |  | 2,176
﻿Working capital |  | 163 |  |  | 389 |  |  | 110 |  |  | (718) |  |  | 194 |  |  | — |  |  | 138
﻿Net cash provided by (used in) operating activities |  | 137 |  |  | 1,484 |  |  | 14 |  |  | (715) |  |  | 1,406 |  |  | (12) |  |  | 2,314
﻿Purchase of flight equipment |  | — |  |  | — |  |  | — |  |  | (1,198) |  |  | (892) |  |  | — |  |  | (2,090)
﻿Proceeds from sale or disposal of assets |  | 21 |  |  | — |  |  | — |  |  | 738 |  |  | (189) |  |  | — |  |  | 570
﻿Prepayments on flight equipment |  | — |  |  | — |  |  | — |  |  | (2) |  |  | (456) |  |  | — |  |  | (458)
﻿Acquisition of ILFC, net of cash acquired |  | — |  |  | (2,400) |  |  | — |  |  | 2,205 |  |  | — |  |  | — |  |  | (195)
﻿Collections of finance and sales-type leases |  | — |  |  | (4) |  |  | — |  |  | 12 |  |  | 33 |  |  | — |  |  | 41
﻿Movement in restricted cash |  | — |  |  | — |  |  | — |  |  | (2) |  |  | 284 |  |  | — |  |  | 282
﻿Other |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | —
﻿Net cash provided by (used in) investing activities |  | 21 |  |  | (2,404) |  |  | — |  |  | 1,753 |  |  | (1,220) |  |  | — |  |  | (1,850)
﻿Issuance of debt |  | 75 |  |  | 3,400 |  |  | — |  |  | 43 |  |  | 1,894 |  |  | — |  |  | 5,412
﻿Repayment of debt |  | (225) |  |  | (2,353) |  |  | — |  |  | (10) |  |  | (2,239) |  |  | — |  |  | (4,827)
﻿Debt issuance costs paid |  | — |  |  | (45) |  |  | — |  |  | (20) |  |  | (70) |  |  | — |  |  | (135)
﻿Maintenance payments received |  | — |  |  | 195 |  |  | — |  |  | 42 |  |  | 325 |  |  | — |  |  | 562
﻿Maintenance payments returned |  | — |  |  | (89) |  |  | — |  |  | (101) |  |  | (96) |  |  | — |  |  | (286)
﻿Security deposits received |  | — |  |  | 39 |  |  | — |  |  | 9 |  |  | 59 |  |  | — |  |  | 107
﻿Security deposits returned |  | — |  |  | (2) |  |  | — |  |  | (133) |  |  | 36 |  |  | — |  |  | (99)
﻿Dividend paid |  | — |  |  | — |  |  | — |  |  | — |  |  | (12) |  |  | 12 |  |  | —
﻿Net cash (used in) provided by financing activities |  | (150) |  |  | 1,145 |  |  | — |  |  | (170) |  |  | (103) |  |  | 12 |  |  | 734
﻿Net increase in cash and cash equivalents |  | 8 |  |  | 225 |  |  | 14 |  |  | 868 |  |  | 83 |  |  | — |  |  | 1,198
﻿Effect of exchange rate changes |  | (1) |  |  | — |  |  | — |  |  | (2) |  |  | (1) |  |  | — |  |  | (4)
﻿Cash and cash equivalents at beginning of period |  | — |  |  | — |  |  | — |  |  | 140 |  |  | 156 |  |  | — |  |  | 296
﻿Cash and cash equivalents at end of period | $ | 7 |  | $ | 225 |  | $ | 14 |  | $ | 1,006 |  | $ | 238 |  | $ | — |  | $ | 1,490
﻿ ﻿ ﻿
| (a) |  | Guarantors consist of AerCap U.S. Global Aviation LLC, AerCap Aviation Solutions B.V., AerCap Ireland Ltd. and ILFC. ILFC was acquired on May 14, 2014 and is not included prior to its acquisition date.
﻿ ﻿
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Condensed Consolidating Statement of Comprehensive Income
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿ | Year Ended December 31, 2016
﻿ | AerCap Holdings N.V. |  | AerCap Global Aviation Trust |  | AerCap Ireland Capital Designated Activity Company |  | Guarantors (a) |  | Non- Guarantors |  | Eliminations |  | Total
﻿ | (U.S. dollar amounts in millions)
﻿Net income (loss) attributable to AerCap Holdings N.V. | $ | 1,047 |  | $ | 919 |  | $ | 757 |  | $ | 842 |  | $ | (434) |  | $ | (2,084) |  | $ | 1,047
﻿Other comprehensive (loss) income: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Net change in fair value of derivatives, net of tax |  | — |  |  | — |  |  | — |  |  | — |  |  | 6 |  |  | — |  |  | 6
﻿Actuarial loss on pension obligations, net of tax |  | — |  |  | — |  |  | — |  |  | (2) |  |  | — |  |  | — |  |  | (2)
﻿Total other comprehensive (loss) income |  | — |  |  | — |  |  | — |  |  | (2) |  |  | 6 |  |  | — |  |  | 4
﻿Total comprehensive income (loss) attributable to AerCap Holdings N.V. | $ | 1,047 |  | $ | 919 |  | $ | 757 |  | $ | 840 |  | $ | (428) |  | $ | (2,084) |  | $ | 1,051
﻿ ﻿ ﻿
| (a) |  | Guarantors consist of AerCap U.S. Global Aviation LLC, AerCap Aviation Solutions B.V., AerCap Ireland Ltd. and ILFC.
﻿ ﻿ ﻿
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Condensed Consolidating Statement of Comprehensive Income
﻿ | Year Ended December 31, 2015
﻿ | AerCap Holdings N.V. |  | AerCap Global Aviation Trust |  | AerCap Ireland Capital Designated Activity Company |  | Guarantors (a) |  | Non- Guarantors |  | Eliminations |  | Total
﻿ | (U.S. dollar amounts in millions)
﻿Net income (loss) attributable to AerCap Holdings N.V. | $ | 1,179 |  | $ | 1,061 |  | $ | 929 |  | $ | 846 |  | $ | (567) |  | $ | (2,269) |  | $ | 1,179
﻿Other comprehensive income: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Net change in fair value of derivatives, net of tax |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | —
﻿Actuarial gain on pension obligations, net of tax |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | —
﻿Total other comprehensive income |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | —
﻿Total comprehensive income (loss) attributable to AerCap Holdings N.V. | $ | 1,179 |  | $ | 1,061 |  | $ | 929 |  | $ | 846 |  | $ | (567) |  | $ | (2,269) |  | $ | 1,179
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿ ﻿
| (a) |  | Guarantors consist of AerCap U.S. Global Aviation LLC, AerCap Aviation Solutions B.V., AerCap Ireland Ltd. and ILFC.
﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Condensed Consolidating Statement of Comprehensive Income
﻿ | Year Ended December 31, 2014
﻿ | AerCap Holdings N.V. |  | AerCap Global Aviation Trust |  | AerCap Ireland Capital Designated Activity Company |  | Guarantors (a) |  | Non- Guarantors |  | Eliminations |  | Total
﻿ | (U.S. dollar amounts in millions)
﻿Net income (loss) attributable to AerCap Holdings N.V. | $ | 810 |  | $ | 682 |  | $ | 577 |  | $ | 856 |  | $ | 722 |  | $ | (2,837) |  | $ | 810
﻿Other comprehensive income: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Net change in fair value of derivatives, net of tax |  | — |  |  | — |  |  | — |  |  | — |  |  | 5 |  |  | — |  |  | 5
﻿Actuarial gain (loss) on pension obligations, net of tax |  | — |  |  | — |  |  | — |  |  | 3 |  |  | (5) |  |  | — |  |  | (2)
﻿Total other comprehensive income |  | — |  |  | — |  |  | — |  |  | 3 |  |  | — |  |  | — |  |  | 3
﻿Share of other comprehensive income (loss) from subsidiaries |  | 3 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (3) |  |  | —
﻿Total comprehensive income (loss) attributable to AerCap Holdings N.V. | $ | 813 |  | $ | 682 |  | $ | 577 |  | $ | 859 |  | $ | 722 |  | $ | (2,840) |  | $ | 813
﻿ ﻿ ﻿ ﻿
| (a) |  | Guarantors consist of AerCap U.S. Global Aviation LLC, AerCap Aviation Solutions B.V., AerCap Ireland Ltd. and ILFC. ILFC was acquired on May 14, 2014 and is not included prior to its acquisition date.

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