Debt Financing (Tables)

3 Months Ended

Mar. 31, 2020

Debt Financing

Summary of consolidated debt

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

	March 31,		December 31,
	2020		2019
Unsecured
Senior notes	$	12,834,333	$	12,357,811
Term financings		877,950		883,050
Revolving credit facility		515,000		20,000
Total unsecured debt financing		14,227,283		13,260,861
Secured
Term financings		322,320		428,824
Export credit financing		29,947		31,610
Total secured debt financing		352,267		460,434
Total debt financing		14,579,550		13,721,295
Less: Debt discounts and issuance costs		(164,929)		(142,429)
Debt financing, net of discounts and issuance costs	$	14,414,621	$	13,578,866

Schedule of secured obligations

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

	March 31,		December 31,
	2020		2019
Nonrecourse	$	120,381	$	128,460
Recourse		231,886		331,974
Total secured debt financing	$	352,267	$	460,434
Number of aircraft pledged as collateral		12		15
Net book value of aircraft pledged as collateral	$	652,351	$	890,693

Schedule of maturities of debt outstanding

Maturities of debt outstanding as of March 31, 2020 are as follows (in thousands):

Years ending December 31,
2020	$	319,372
2021		2,049,294
2022		2,751,269
2023		2,988,154
2024		1,534,552
Thereafter		4,936,909
Total	$	14,579,550