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Debt Financing (Tables)

9 Months Ended

Sep. 30, 2020

Debt Financing

Summary of consolidated debt

The Company’s consolidated debt as of September 30, 2020 and December 31, 2019 (dollars in thousands):

​

​	​	​	​	​	​	​
​		September 30,			December 31,
​		2020			2019
Unsecured	​	​	​	​	​	​
Senior notes	​	$	14,069,115	​	$	12,357,811
Term financings	​		967,000	​		883,050
Revolving credit facility	​		—	​		20,000
Total unsecured debt financing	​		15,036,115	​		13,260,861
Secured	​	​	​	​	​	​
Term financings	​		289,207	​		428,824
Export credit financing	​		26,619	​		31,610
Total secured debt financing	​		315,826	​		460,434
​	​	​	​	​	​	​
Total debt financing	​		15,351,941	​		13,721,295
Less: Debt discounts and issuance costs	​		(171,796)	​		(142,429)
Debt financing, net of discounts and issuance costs	​	$	15,180,145	​	$	13,578,866

Schedule of secured obligations

The Company’s secured obligations as of September 30, 2020 and December 31, 2019 are summarized below (dollars in thousands):

​

​	​	​	​	​	​	​
​		September 30,			December 31,
​	​	2020		​	2019
Nonrecourse	​	$	—	​	$	128,460
Recourse	​		315,826	​		331,974
Total secured debt financing	​	$	315,826	​	$	460,434
Number of aircraft pledged as collateral	​		12	​		15
Net book value of aircraft pledged as collateral	​	$	636,566	​	$	890,693

Schedule of maturities of debt outstanding

Maturities of debt outstanding as of September 30, 2020 are as follows (in thousands):

​

​	​	​	​
Years ending December 31,		​
2020	​	$	172,778
2021	​		1,934,141
2022	​		2,730,561
2023	​		2,502,123
2024	​		1,525,428
Thereafter	​		6,486,910
Total	​	$	15,351,941

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Tabular disclosure of secured obligations of the entity.

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Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation.

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Tabular disclosure of the combined aggregate amount of maturities and sinking fund requirements for all long-term borrowings for each of the five years following the date of the latest balance sheet date presented.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6802200&loc=d3e1835-112601

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