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Fair Value Measurements (Tables)
 9 Months Ended
Sep. 30, 2014
Fair Value Measurements  
Summary of assets and liabilities measured at fair value on a recurring basis

 

 

 
   Total   Level 1   Level 2   Level 3  
 
   (Dollars in thousands)
  

Successor

                          

September 30, 2014

                          

Derivative liabilities

   $ 2,091   $ —   $ 2,091   $ —  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

 

   $ 2,091   $ —   $ 2,091   $ —  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                   
 
 

Predecessor

                          

December 31, 2013

                          

Derivative liabilities

   $ 8,348   $ —   $ 8,348   $ —  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

 

   $ 8,348   $ —   $ 8,348   $ —  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                   
Schedule of the effect on Condensed Consolidated Financial Statements of non-recurring impairment charges and fair value adjustments recorded to flight equipment

 

 

 
   Predecessor  
 
   Book Value at
December 31,
2013		   Impairment
Charges		   Reclassifications
and Other
Adjustments		   Sales   Depreciation   Book Value at
May 13, 2014		  
 
   (Dollars in thousands)
  

Flight equipment

   $ 119,238   $ (49,247 ) $ (45,795 ) $ —   $ (3,020 ) $ 21,176  

Lease receivables and other assets

     1,168     —     12,614     (369 )   —     13,413  

Net investment in finance and sales-type leases

     —     —     37,027     —     —     37,027  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

 

   $ 120,406   $ (49,247 ) $ 3,846 (a) $ (369 ) $ (3,020 ) $ 71,616  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                           
(a)
Represents collections and prepaid lease costs applied against the finance and sales-type leases.
Schedule of fair value, valuation technique and related unobservable inputs for flight equipment for which non-recurring impairment charges and fair value adjustments were recorded

 

 

 
   Predecessor
 
   Fair Value   Valuation
Technique		   Unobservable
Inputs		   Range
(Weighted Average)
 
   (Dollars in
millions)
    
    
    

Flight Equipment

   $ 67.8   Income Approach   Discount Rate   12.0% - 16.5%
(13.2%)
                 
​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                 

 

             Remaining Holding Period   0 - 8 years
(4 years)

 

            
Present Value of
Non-Contractual Cash
Flows as a Percentage of
Fair Value		  
0 - 100%
(55%)
Schedule of carrying amounts and fair values of significant financial instruments

 

 

 
   Successor  
 
   September 30, 2014  
 
   Book Value   Fair Value   Level 1   Level 2   Level 3  
 
   (Dollars in thousands)
  

Assets

                                

Cash and cash equivalents, including Restricted cash

   $ 1,005,226   $ 1,005,226   $ 1,005,226 (a) $ —   $ —  

Notes receivable

     67,257     67,257     —     67,257     —  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

 

   $ 1,072,483   $ 1,072,483   $ 1,005,226   $ 67,257   $ —  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                       

Liabilities

                                

Debt financings

   $ 24,812,068   $ 24,418,923   $ —   $ 24,418,923   $ —  

Derivative liabilities

     2,091     2,091     —     2,091     —  

Guarantees

     133,525     131,760     —     —     131,760  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

 

   $ 24,947,684   $ 24,552,774   $ —   $ 24,421,014   $ 131,760  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                       
(a)
Includes restricted cash of $402.1 million as of September 30, 2014.

 
   Predecessor  
 
   December 31, 2013  
 
   Book Value   Fair Value   Level 1   Level 2   Level 3  
 
   (Dollars in thousands)
  

Assets

                                

Cash and cash equivalents, including Restricted cash

   $ 1,816,229   $ 1,816,229   $ 188,263   $ 1,627,966 (a) $ —  

Notes receivable

     18,146     19,686     —     19,686     —  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

 

   $ 1,834,375   $ 1,835,915   $ 188,263   $ 1,647,652   $ —  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                       

Liabilities

                                

Debt financings

   $ 21,440,857   $ 22,963,578   $ —   $ 22,963,578   $ —  

Derivative liabilities

     8,348     8,348     —     8,348     —  

Guarantees

     128,750     119,645     —     —     119,645  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

 

   $ 21,577,955   $ 23,091,571   $ —   $ 22,971,926   $ 119,645  
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                       
(a)
Includes restricted cash of $464.8 million as of December 31, 2013.