XML 478 R56.htm IDEA: XBRL DOCUMENT v3.22.4
Debt (Tables)
 12 Months Ended
Dec. 31, 2022
Debt Disclosure [Abstract]  
Schedule of Debt
The following table provides a summary of our indebtedness as of December 31, 2022 and 2021:
As of December 31,
20222021
Debt obligationCollateral (number of aircraft and helicopters)CommitmentUndrawn
amounts		Amount outstandingWeighted average interest rate (a)MaturityAmount outstanding
Unsecured
AerCap Trust & AICDC Notes$32,700,000 $— $32,700,000 3.04 %2041$34,167,202 
 Revolving credit facilities (b)9,034,000 9,034,000 — — 2025— 
ILFC Legacy Notes— — — 0— — 1,034,274 
Other unsecured debt2,010,500 — 2,010,500 5.68 %20261,874,000 
Fair value adjustment— — — 4,210 
TOTAL UNSECURED$43,744,500 $9,034,000 $34,710,500 $37,079,686 
Secured
Export credit facilities (c)40 1,058,269 — 1,058,269 2.14 %20331,276,557 
Institutional secured term
   loans & secured portfolio loans		264 7,499,339 — 7,499,339 5.44 %20328,428,534 
AerFunding Revolving Credit
    Facility		26 2,075,000 1,357,442 717,558 6.33 %2027783,488 
Other secured debt (d)18 830,847 293,615 537,232 5.38 %2039700,842 
Fair value adjustment— — 1,778 2,361 
TOTAL SECURED$11,463,455 $1,651,057 $9,814,176 $11,191,782 
Subordinated
Subordinated notes2,250,000 — 2,250,000 6.24 %20792,250,000 
Subordinated debt issued by VIEs27,219 — 27,219 — 202627,219 
Fair value adjustment— — (212)(215)
TOTAL SUBORDINATED$2,277,219 $— $2,277,007 $2,277,004 
Debt issuance costs, debt
   discounts and debt premium		(268,723)(343,794)
348 $57,485,174 $10,685,057 $46,532,960 $50,204,678 
(a)The weighted average interest rate for our floating rate debt of $9.3 billion is calculated based on the applicable U.S. dollar LIBOR or SOFR rate, as applicable, as of the most recent 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 interest alternatives.
(b)Asia Revolver and Citi Revolvers (the “Revolving credit facilities”)
(c)An additional $0.8 billion of commitment has been approved by the Export Credit Agencies, subject to customary conditions at drawdown.
(d)In addition to the 18 aircraft, 74 engines are pledged as collateral.
The following table provides details regarding the terms of our outstanding institutional secured term loans and secured portfolio loans:
As of December 31,
20222021
Collateral (Number of aircraft) (a)Amount outstandingWeighted average
interest rate		MaturityAmount outstanding
Institutional secured term loans
Setanta78$2,000,000 6.73 %2028$2,000,000 
Hyperion 711,050,000 6.48 %20231,050,000 
Secured portfolio loans
Celtago & Celtago II24731,480 4.14 %2027869,550 
Cesium15658,580 5.27 %2025726,398 
Goldfish13560,084 6.13 %2025616,649 
Scandium10517,577 5.31 %2025573,770 
Rhodium11459,599 4.27 %2026506,202 
Other secured facilities421,522,019 3.85 %2024-20322,085,965 
264$7,499,339 $8,428,534 
(a)These loans are secured by a combination of aircraft and the equity interests in the borrower and certain special purpose entity (“SPE”) subsidiaries of the borrower that own the aircraft.
The following table provides a summary of the outstanding subordinated debt as of December 31, 2022:
As of December 31,
20222021
Amount
outstanding		Weighted average interest rateMaturityAmount
outstanding
ECAPS Subordinated Notes (a)$1,000,000 6.39 %2065$1,000,000 
2045 Subordinated Notes500,000 6.50 %2045500,000 
2079 Subordinated Notes750,000 5.88 %2079750,000 
$2,250,000 $2,250,000 
(a)Enhanced Capital Advantaged Preferred Securities (“ECAPS”).
Schedule of Maturities of Debt Financings
Maturities of our debt financings (excluding fair value adjustments, debt issuance costs, debt discounts and debt premium) as of December 31, 2022 were as follows:
Maturities of debt financing (a)
2023$6,162,330 
20248,343,844 
20255,832,335 
20267,542,036 
20272,669,525 
Thereafter16,250,047 
$46,800,117 
(a)For further detail on debt maturities, please refer to “Item 5. Operating and Financial Review and Prospects—Contractual obligations.”
The following table provides a summary of the outstanding AGAT/AICDC Notes as of December 31, 2022:
Maturities of AGAT/AICDC Notes
2023$4,100,000 
20246,800,000 
20253,650,000 
20265,250,000 
20271,600,000 
Thereafter11,300,000 
$32,700,000