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Debt | 6 Months Ended
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Jun. 30, 2019
Debt Disclosure [Abstract] |
Debt | As of June 30, 2019, the principal amount of our outstanding indebtedness totaled $29.0 billion, which excluded fair value adjustments of $129.2 million and debt issuance costs, debt discounts and debt premium of $141.0 million, and our undrawn lines of credit were approximately $7.1 billion, availability of which is subject to certain conditions, including compliance with certain financial covenants. As of June 30, 2019, we remained in compliance with the financial covenants across our various debt obligations. All of our debt is redeemable by AerCap, unless otherwise stated. The following table provides a summary of our indebtedness as of June 30, 2019 and December 31, 2018:
|  | June 30, 2019 |  | December 31, 2018
Debt Obligation |  | Collateral (Number of aircraft) |  | Commitment |  | Undrawn amounts |  | Amount outstanding |  | Weighted average interest rate (a) |  | Maturity |  | Amount outstanding
Unsecured |  |  |  |  |  |  |  |  |  |  |  |  |  |
ILFC Legacy Notes |  |  |  | $ | 2,900,000 |  |  | $ | — |  |  | $ | 2,900,000 |  |  | 7.09 | % |  | 2020 - 2022 |  | $ | 4,900,000 |
AGAT/AICDC Notes |  |  |  | 11,750,000 |  |  | — |  |  | 11,750,000 |  |  | 4.21 | % |  | 2020 - 2028 |  | 10,749,864 |
Asia Revolving Credit Facility |  |  |  | 950,000 |  |  | 750,000 |  |  | 200,000 |  |  | 3.96 | % |  | 2022 |  | 200,000 |
Citi Revolving Credit Facility |  |  |  | 4,000,000 |  |  | 4,000,000 |  |  | — |  |  | — |  |  | 2021 |  | — |
Other unsecured debt |  |  |  | 1,956,000 |  |  | — |  |  | 1,956,000 |  |  | 3.85 | % |  | 2020 - 2023 |  | 1,160,000 |
Fair value adjustment |  |  |  | NA |  |  | NA |  |  | 131,603 |  |  | NA |  |  | NA |  | 177,450 |
TOTAL UNSECURED |  |  |  | $ | 21,556,000 |  |  | $ | 4,750,000 |  |  | $ | 16,937,603 |  |  |  |  |  |  | $ | 17,187,314 |
Secured |  |  |  |  |  |  |  |  |  |  |  |  |  |
Export credit facilities |  | 30 |  |  | 741,960 |  |  | — |  |  | 741,960 |  |  | 2.62 | % |  | 2019 - 2030 |  | 849,372 |
Institutional secured term loans & secured portfolio loans |  | 269 |  |  | 8,567,360 |  |  | 724,000 |  |  | 7,843,360 |  |  | 3.97 | % |  | 2020 - 2030 |  | 7,533,028 |
AerFunding Revolving Credit Facility |  | 16 |  |  | 2,500,000 |  |  | 1,601,462 |  |  | 898,538 |  |  | 4.41 | % |  | 2022 |  | 919,484 |
Other secured debt |  | 44 |  |  | 1,193,432 |  |  | — |  |  | 1,193,432 |  |  | 4.36 | % |  | 2019 - 2037 |  | 1,633,099 |
Fair value adjustment |  |  |  | NA |  |  | NA |  |  | (2,204 | ) |  | NA |  |  | NA |  | (2,103 | )
TOTAL SECURED |  |  |  | $ | 13,002,752 |  |  | $ | 2,325,462 |  |  | $ | 10,675,086 |  |  |  |  |  |  | $ | 10,932,880 |
Subordinated |  |  |  |  |  |  |  |  |  |  |  |  |  |
ECAPS Subordinated Notes |  |  |  | 1,000,000 |  |  | — |  |  | 1,000,000 |  |  | 4.19 | % |  | 2065 |  | 1,000,000 |
Junior Subordinated Notes |  |  |  | 500,000 |  |  | — |  |  | 500,000 |  |  | 6.50 | % |  | 2045 |  | 500,000 |
Subordinated debt issued by joint ventures |  |  |  | 48,234 |  |  | — |  |  | 48,234 |  |  | — |  |  | 2019 - 2020 |  | 48,234 |
Fair value adjustment |  |  |  | NA |  |  | NA |  |  | (225 | ) |  | NA |  |  | NA |  | (225 | )
TOTAL SUBORDINATED |  |  |  | $ | 1,548,234 |  |  | $ | — |  |  | $ | 1,548,009 |  |  |  |  |  |  | $ | 1,548,009 |
Debt issuance costs, debt discounts and debt premium |  |  |  | NA |  |  | NA |  |  | (141,032 | ) |  | NA |  |  | NA |  | (160,616 | )
|  | 359 |  |  | $ | 36,106,986 |  |  | $ | 7,075,462 |  |  | $ | 29,019,666 |  |  |  |  |  |  | $ | 29,507,587 |
(a) | The weighted average interest rate for our floating rate debt is calculated based on the U.S. dollar LIBOR rate as of the last interest payment date of the respective debt, and excludes the impact of related derivative financial instruments which we hold to hedge our exposure to floating interest rates, as well as any amortization of debt issuance costs, debt discounts and debt premium. The institutional secured term loans and secured portfolio loans also contain base rate alternatives.
Additional details of the principal terms of our indebtedness can be found in our Annual Report on Form 20-F for the year ended December 31, 2018, filed with the SEC on March 8, 2019 and our quarterly report on Form 6-K for the first quarter ended March 31, 2019, filed with the SEC on May 1, 2019. There have been no material changes to our indebtedness since the filing of those reports, except for scheduled repayments and as described below. Other unsecured debt In June 2019, we signed a $525.0 million, four-year unsecured term loan agreement.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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