Debt Financing (Tables)

9 Months Ended

Sep. 30, 2019

Debt Financing

Summary of consolidated debt

The Company’s debt financing was comprised of the following at September 30, 2019 and December 31, 2018 (dollars in thousands):

	September 30,		December 31,
	2019		2018
Unsecured
Senior notes	$	12,050,000	$	10,043,445
Term financings		813,150		607,340
Revolving credit facilities		610,000		602,000
Total unsecured debt financing		13,473,150		11,252,785
Secured
Term financings		392,593		371,203
Export credit financing		33,274		38,265
Total secured debt financing		425,867		409,468
Total debt financing		13,899,017		11,662,253
Less: Debt discounts and issuance costs		(147,145)		(123,348)
Debt financing, net of discounts and issuance costs	$	13,751,872	$	11,538,905

Schedule of secured obligations

The Company’s secured obligations as of September 30, 2019 and December 31, 2018 are summarized below (dollars in thousands):

	September 30,		December 31,
	2019		2018
Nonrecourse	$	138,797	$	167,245
Recourse		287,070		242,223
Total secured debt financing	$	425,867	$	409,468
Number of aircraft pledged as collateral		17		20
Net book value of aircraft pledged as collateral	$	915,211	$	1,132,111

Schedule of maturities of debt outstanding

Maturities of debt outstanding as of September 30, 2019 are as follows (in thousands):

Years ending December 31,
2019	$	31,189
2020		1,456,585
2021		1,993,870
2022		2,696,599
2023		2,966,461
Thereafter		4,754,313
Total	$	13,899,017