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Debt (Tables)

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Schedule of Debt

The following table provides a summary of our indebtedness as of December 31, 2023 and 2022:

						As of December 31,
						2023																																				2022
Debt obligation						Collateral (number of aircraft and helicopters)						Commitment						Undrawn amounts						Amount outstanding						Weighted average interest rate (a)						Maturity						Amount outstanding
Unsecured
AerCap Trust (b) & AICDC Notes (c)												$	31,215,349					$	—					$	31,215,349					3.59		%				2024 - 2041						$	32,700,000
Revolving credit facilities (d)												9,300,000						9,275,000						25,000						6.93		%				2025 - 2027						—
Other unsecured debt												3,055,000						—						3,055,000						6.81		%				2024 - 2028						2,010,500
TOTAL UNSECURED												$	43,570,349					$	9,275,000					$	34,295,349																	$	34,710,500
Secured
Export credit facilities (e)						38						1,034,687						—						1,034,687						2.49		%				2025 - 2035						1,058,269
Institutional secured term    loans & secured portfolio loans						243						7,985,863						318,500						7,667,363						6.17		%				2024 - 2032						7,499,339
AerFunding Revolving Credit     Facility						39						2,075,000						1,042,849						1,032,151						7.41		%				2027						717,558
Other secured debt (f)						14						742,188						326,206						415,982						5.73		%				2024 - 2041						537,232
Fair value adjustment												—						—						993																		1,778
TOTAL SECURED												$	11,837,738					$	1,687,555					$	10,151,176																	$	9,814,176
Subordinated
Subordinated notes												2,250,000						—						2,250,000						6.64		%				2045 - 2079						2,250,000
Subordinated debt issued by VIEs												—						—						—						—						—						27,219
Fair value adjustment												—						—						—																		(212)
TOTAL SUBORDINATED												$	2,250,000					$	—					$	2,250,000																	$	2,277,007
Debt issuance costs, debt    discounts and debt premium																								(212,622)																		(268,723)
						334						$	57,658,087					$	10,962,555					$	46,483,903																	$	46,532,960

(a)The weighted average interest rate for our floating rate debt of $10.3 billion is calculated based on the applicable U.S. dollar 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)AerCap Global Aviation Trust, a Delaware Statutory Trust (“AerCap Trust”)

(c)AerCap Ireland Capital Designated Activity Company, a designated activity company with limited liability incorporated under the laws of Ireland (“AICDC”)

(d)Asia Revolver and Citi Revolvers (the “Revolving credit facilities”).

(e)An additional $0.8 billion of commitment has been approved by the Export Credit Agencies, subject to customary conditions at drawdown.

(f)In addition to the 14 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,
			2023																								2022
			Collateral (Number of aircraft) (a)						Amount outstanding						Weighted average interest rate						Maturity						Amount outstanding
Institutional secured term loans
Setanta			82						$	2,000,000					7.61		%				2028						$	2,000,000
Hyperion			21						600,000						7.35		%				2027						1,050,000
Secured portfolio loans
Celtago & Celtago II			24						613,034						4.51		%				2024-2027						731,480
Rhenium			18						867,714						6.70		%				2030						—
Cesium			15						587,912						5.68		%				2025						658,580
Goldfish			13						501,276						7.01		%				2025						560,084
Scandium			10						458,867						5.74		%				2025						517,577
Rhodium			11						411,343						4.53		%				2026						459,599
Other secured facilities			49						1,627,217						4.75		%				2025-2032						1,522,019
			243						$	7,667,363																	$	7,499,339

(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, 2023:

			As of December 31,
			2023																		2022
			Amount outstanding						Weighted average interest rate						Maturity						Amount outstanding
ECAPS Subordinated Notes (a)			$	1,000,000					7.29		%				2065						$	1,000,000
2045 Subordinated Notes			500,000						6.50		%				2045						500,000
2079 Subordinated Notes			750,000						5.88		%				2079						750,000
			$	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, 2023 were as follows:

			Maturities of debt financing (a)
2024			$	6,211,679
2025			5,958,382
2026			8,491,596
2027			6,795,888
2028			7,744,105
Thereafter			11,493,882
			$	46,695,532

(a)For further detail on debt maturities, please refer to “Item 5. Operating and Financial Review and Prospects—Liquidity and capital resources—Contractual obligations.”

The following table provides a summary of the outstanding AGAT/AICDC Notes as of December 31, 2023:

			Maturities of AGAT/AICDC Notes
2024			$	5,165,349
2025			3,650,000
2026			5,250,000
2027			4,000,000
2028			5,300,000
Thereafter			7,850,000
			$	31,215,349

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