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

September 30, 2022December 31, 2021
(in thousands)
Unsecured
Senior notes $17,064,248 $16,892,058 
Term financings 186,775 167,000 
Revolving credit facility1,570,000 — 
        Total unsecured debt financing18,821,023 17,059,058 
Secured
Term financings 116,981 126,660 
Export credit financing 13,309 18,301 
        Total secured debt financing130,290 144,961 
Total debt financing 18,951,313 17,204,019 
Less: Debt discounts and issuance costs(182,256)(181,539)
Debt financing, net of discounts and issuance costs$18,769,057 $17,022,480 

Senior unsecured notes (including Medium-Term Note Program)

As of September 30, 2022, the Company had $17.1 billion in senior unsecured notes outstanding. As of December 31, 2021, the Company had $16.9 billion in senior unsecured notes outstanding.
During the nine months ended September 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 September 30, 2022, the Company had $1.6 billion 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 September 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 November 3, 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 September 30, 2022, the outstanding balance on other debt financings was $317.1 million and the Company had pledged three aircraft as collateral with a net book value of $214.6 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 September 30, 2022 are as follows:
 (in thousands)
Years ending December 31,
2022$683,152 
20232,621,611 
20242,863,800 
20252,409,553 
20264,953,021 
Thereafter 5,420,176 
Total$18,951,313