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Debt Financing
 6 Months Ended
Jun. 30, 2022
Debt Disclosure [Abstract]  
Debt Financing Debt Financing
The Company’s consolidated debt as of June 30, 2022 and December 31, 2021 is summarized below:

June 30, 2022December 31, 2021
(in thousands)
Unsecured
Senior notes $17,685,728 $16,892,058 
Term financings 190,325 167,000 
Revolving credit facility520,000 — 
        Total unsecured debt financing18,396,053 17,059,058 
Secured
Term financings 120,226 126,660 
Export credit financing 14,973 18,301 
        Total secured debt financing135,199 144,961 
Total debt financing 18,531,252 17,204,019 
Less: Debt discounts and issuance costs(195,177)(181,539)
Debt financing, net of discounts and issuance costs$18,336,075 $17,022,480 
Senior unsecured notes (including Medium-Term Note Program)

As of June 30, 2022, the Company had $17.7 billion in senior unsecured notes outstanding. As of December 31, 2021, the Company had $16.9 billion in senior unsecured notes outstanding.

During the six months ended June 30, 2022, the Company issued $1.5 billion in aggregate principal amount of senior unsecured notes comprised of (i) $750.0 million in aggregate principal amount of 2.20% Medium-Term Notes due 2027, and (ii) $750.0 million in aggregate principal amount of 2.875% Medium-Term Notes due 2032.

Unsecured revolving credit facility

As of June 30, 2022, the Company had $520.0 million outstanding under its unsecured revolving credit facility (the “Revolving Credit Facility”). As of December 31, 2021, the Company did not have any amounts outstanding under its Revolving Credit Facility. Borrowings under the Revolving Credit Facility are used to finance the Company’s working capital needs in the ordinary course of business and for other general corporate purposes.

In April 2022, the Company amended and extended its Revolving Credit Facility through an amendment that, among other things, extended the final maturity date from May 5, 2025 to May 5, 2026, increased the total revolving commitments to approximately $7.0 billion as of May 5, 2022 and replaced LIBOR with Term SOFR as the benchmark interest rate and made certain conforming changes related thereto. As of June 30, 2022, borrowings under the Revolving Credit Facility accrued interest at Adjusted Term SOFR (as defined in the Revolving Credit Facility) plus a margin of 1.05% per year. The Company is required to pay a facility fee of 0.20% per year in respect of total commitments under the Revolving Credit Facility. Interest rate and facility fees are subject to increases or decreases based on declines or improvements in the credit ratings for the Company’s debt.

In June 2022, the Company increased the aggregate facility capacity by an additional $122.5 million and also extended the maturity of $125.0 million in commitments to May 5, 2026. As of August 4, 2022, the Company had total revolving commitments of approximately $7.1 billion. Lenders held revolving commitments totaling approximately $6.7 billion that mature on May 5, 2026, commitments totaling $32.5 million that mature on May 5, 2025 and commitments totaling $375.0 million that mature on May 5, 2023.

Other debt financings

From time to time, the Company enters into other debt financings such as unsecured term financings and secured term financings, including export credit. As of June 30, 2022, the outstanding balance on other debt financings was $325.5 million and the Company had pledged three aircraft as collateral with a net book value of $217.1 million. As of December 31, 2021, the outstanding balance on other debt financings was $312.0 million and the Company had pledged three aircraft as collateral with a net book value of $222.2 million.

Maturities

Maturities of debt outstanding as of June 30, 2022 are as follows:
 (in thousands)
Years ending December 31,
2022$1,291,611 
20232,566,329 
20242,885,280 
20252,404,761 
20263,963,094 
Thereafter 5,420,177 
Total$18,531,252