Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Fair value measurements (Tables)

v3.8.0.1
Fair value measurements (Tables)
12 Months Ended
Dec. 31, 2017
Fair Value Disclosures [Abstract]  
Schedule of financial assets and liabilities measured at fair value on recurring basis
The following tables present our financial assets and liabilities that we measured at fair value on a recurring basis by level within the fair value hierarchy as of December 31, 2017 and 2016:
 
December 31, 2017
 
Total
 
Level 1
 
Level 2
 
Level 3
Assets
 
 
 
 
 
 
 
Derivative assets
$
48,896

 
$

 
$
48,896

 
$

 
December 31, 2016
 
Total
 
Level 1
 
Level 2
 
Level 3
Assets
 
 
 
 
 
 
 
Derivative assets
$
37,187

 
$

 
$
37,187

 
$

Schedule of fair value of flight equipment on non-recurring basis
For flight equipment that we measured at fair value on a non-recurring basis during the year ended December 31, 2017, the following table presents the fair value of such flight equipment as of the measurement date, the valuation technique and the related unobservable inputs:
 
Fair value
Valuation technique
Unobservable input
Range
Weighted average
Flight equipment
$
355,923

Income approach
Discount rate
0% - 10%
5
%
 
 
 
Remaining holding period
0 - 13 years
8 years

 
 
 
Non-contractual cash flows
0% - 100%
38
%
Schedule of carrying amounts and fair values of most significant financial instruments
The carrying amounts and fair values of our most significant financial instruments as of December 31, 2017 and 2016 were as follows:
 
December 31, 2017
 
Carrying value
 
Fair value
 
Level 1
 
Level 2
 
Level 3
Assets
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
1,659,669

 
$
1,659,669

 
$
1,659,669

 
$

 
$

Restricted cash
364,456

 
364,456

 
364,456

 

 

Derivative assets
48,896

 
48,896

 

 
48,896

 

Notes receivables
22,497

 
22,497

 

 
22,497

 

 
$
2,095,518

 
$
2,095,518

 
$
2,024,125

 
$
71,393

 
$

Liabilities
 

 
 

 
 

 
 

 
 

Debt
$
28,580,800

(a)
$
29,074,375

 
$

 
$
29,074,375

 
$

Guarantees
2,272

 
2,272

 

 

 
2,272

 
$
28,583,072

 
$
29,076,647

 
$

 
$
29,074,375

 
$
2,272

 
(a)
Excludes debt issuance costs and debt discounts.
 
December 31, 2016
 
Carrying value
 
Fair value
 
Level 1
 
Level 2
 
Level 3
Assets
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
2,035,447

 
$
2,035,447

 
$
2,035,447

 
$

 
$

Restricted cash
329,180

 
329,180

 
329,180

 

 

Derivative assets
37,187

 
37,187

 

 
37,187

 

Notes receivables
23,359

 
23,359

 

 
23,359

 

 
$
2,425,173

 
$
2,425,173

 
$
2,364,627

 
$
60,546

 
$

Liabilities
 

 
 

 
 

 
 

 
 

Debt
$
27,873,900

(a)
$
28,203,635

 
$

 
$
28,203,635

 
$

Guarantees
51,804

 
51,804

 

 

 
51,804

 
$
27,925,704

 
$
28,255,439

 
$

 
$
28,203,635

 
$
51,804

 
(a)
Excludes debt issuance costs and debt discounts.