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

Supplemental guarantor financial information (Tables)

v3.8.0.1
Supplemental guarantor financial information (Tables) - AGAT/AICDC Notes
12 Months Ended
Dec. 31, 2017
Condensed Financial Statements, Captions [Line Items]  
Condensed consolidated balance sheet
Condensed Consolidating Balance Sheet
 
December 31, 2017
 
AerCap
Holdings N.V.
 
AerCap
Global
Aviation
Trust
 
AerCap
Ireland
Capital
Designated
Activity
Company
 
Guarantors(a)
 
Non-
Guarantors
 
Eliminations
 
Total
 
(U.S. Dollars in millions)
Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
21

 
$
222

 
$
14

 
$
1,227

 
$
176

 
$

 
$
1,660

Restricted cash

 

 

 
10

 
354

 

 
364

Flight equipment held for operating leases, net

 
10,461

 

 
1,959

 
19,977

 

 
32,397

Maintenance rights intangible and lease premium, net

 
758

 

 
35

 
709

 

 
1,502

Flight equipment held for sale

 
168

 

 

 
463

 

 
631

Net investment in finance and sales-type leases

 
520

 

 
193

 
283

 

 
996

Prepayments on flight equipment

 
2,340

 

 
4

 
586

 

 
2,930

Investments including investments in subsidiaries
9,632

 
1,066

 
8,037

 
5,670

 
122

 
(24,405
)
 
122

Intercompany receivables
128

 
14,495

 
80

 
9,989

 
5,281

 
(29,973
)
 

Other assets
96

 
603

 
85

 
366

 
288

 

 
1,438

Total Assets
$
9,877

 
$
30,633

 
$
8,216

 
$
19,453

 
$
28,239

 
$
(54,378
)
 
$
42,040

Liabilities and Equity
 
 
 
 
 
 
 
 
 
 
 
 
 
Debt
$

 
$
17,098

 
$
398

 
$
24

 
$
10,901

 
$

 
$
28,421

Intercompany payables
1,276

 
3,527

 
4,875

 
9,202

 
11,093

 
(29,973
)
 

Other liabilities
22

 
1,950

 

 
471

 
2,537

 

 
4,980

Total liabilities
1,298

 
22,575

 
5,273

 
9,697

 
24,531

 
(29,973
)
 
33,401

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total AerCap Holdings N.V. shareholders equity
8,579

 
8,058

 
2,943

 
9,684

 
3,721

 
(24,405
)
 
8,580

Non-controlling interest

 

 

 
72

 
(13
)
 

 
59

Total Equity
8,579

 
8,058

 
2,943

 
9,756

 
3,708

 
(24,405
)
 
8,639

Total Liabilities and Equity
$
9,877

 
$
30,633

 
$
8,216

 
$
19,453

 
$
28,239

 
$
(54,378
)
 
$
42,040

 
(a)Guarantors consist of AerCap U.S. Global Aviation LLC, AerCap Aviation Solutions B.V., AerCap Ireland Ltd. and ILFC.
Condensed Consolidating Balance Sheet
 
December 31, 2016
 
AerCap
Holdings N.V.
 
AerCap
Global
Aviation
Trust
 
AerCap
Ireland
Capital
Designated
Activity
Company
 
Guarantors(a)
 
Non-
Guarantors
 
Eliminations
 
Total
 
(U.S. Dollars in millions)
Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
4

 
$
829

 
$
64

 
$
931

 
$
207

 
$

 
$
2,035

Restricted cash

 

 

 
9

 
320

 

 
329

Flight equipment held for operating leases, net

 
11,012

 

 
1,299

 
19,191

 

 
31,502

Maintenance rights intangible and lease premium, net

 
1,190

 

 
52

 
926

 

 
2,168

Flight equipment held for sale

 
28

 

 

 
79

 

 
107

Net investment in finance and sales-type leases

 
437

 

 
166

 
154

 

 
757

Prepayments on flight equipment

 
3,006

 

 
5

 
255

 

 
3,266

Investments including investments in subsidiaries
9,310

 
874

 
7,249

 
4,941

 
119

 
(22,374
)
 
119

Intercompany receivables
106

 
12,639

 
1

 
8,405

 
5,947

 
(27,098
)
 

Other assets
104

 
538

 
60

 
632

 
171

 
(168
)
 
1,337

Total Assets
$
9,524

 
$
30,553

 
$
7,374

 
$
16,440

 
$
27,369

 
$
(49,640
)
 
$
41,620

Liabilities and Equity
 
 
 
 
 
 
 
 
 
 
 
 
 
Debt
$

 
$
17,316

 
$

 
$
340

 
$
10,061

 
$

 
$
27,717

Intercompany payables
978

 
3,726

 
5,057

 
7,067

 
10,270

 
(27,098
)
 

Other liabilities
22

 
2,241

 
11

 
448

 
2,767

 
(168
)
 
5,321

Total liabilities
1,000

 
23,283

 
5,068

 
7,855

 
23,098

 
(27,266
)
 
33,038

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total AerCap Holdings N.V. shareholders equity
8,524

 
7,270

 
2,306

 
8,509

 
4,289

 
(22,374
)
 
8,524

Non-controlling interest

 

 

 
76

 
(18
)
 

 
58

Total Equity
8,524

 
7,270

 
2,306

 
8,585

 
4,271

 
(22,374
)
 
8,582

Total Liabilities and Equity
$
9,524

 
$
30,553

 
$
7,374

 
$
16,440

 
$
27,369

 
$
(49,640
)
 
$
41,620

 

(a)Guarantors consist of AerCap U.S. Global Aviation LLC, AerCap Aviation Solutions B.V., AerCap Ireland Ltd. and ILFC.
Condensed consolidated income statement
Condensed Consolidating Income Statement
 
Year Ended December 31, 2017
 
AerCap
Holdings N.V.
 
AerCap
Global
Aviation
Trust
 
AerCap
Ireland
Capital
Designated
Activity
Company
 
Guarantors(a)
 
Non-
Guarantors
 
Eliminations
 
Total
 
(U.S. Dollars in millions)
Revenues and other income
 
 
 
 
 
 
 
 
 
 
 
 
 
Lease revenue
$

 
$
1,671

 
$

 
$
214

 
$
2,829

 
$

 
$
4,714

Net gain on sale of assets

 
113

 

 
20

 
96

 

 
229

Other income (loss)
49

 
672

 
4

 
577

 
409

 
(1,617
)
 
94

Total Revenues and other income
49

 
2,456

 
4

 
811

 
3,334

 
(1,617
)
 
5,037

Expenses
 
 
 
 
 
 
 
 
 
 
 
 
 
Depreciation and amortization

 
630

 

 
87

 
1,010

 

 
1,727

Asset impairment

 
9

 

 
3

 
49

 

 
61

Interest expense

 
759

 
176

 
410

 
1,108

 
(1,341
)
 
1,112

Leasing expenses

 
258

 

 
30

 
250

 

 
538

Transaction, integration and restructuring related expenses

 

 

 

 
15

 

 
15

Selling, general and administrative expenses
97

 
105

 

 
135

 
287

 
(276
)
 
348

Total Expenses
97

 
1,761

 
176

 
665

 
2,719

 
(1,617
)
 
3,801

(Loss) income before income taxes and income of investments accounted for under the equity method
(48
)
 
695

 
(172
)
 
146

 
615

 

 
1,236

Provision for income taxes
6

 
(87
)
 
21

 
(33
)
 
(72
)
 

 
(165
)
Equity in net earnings of investments accounted for under the equity method

 

 

 

 
9

 

 
9

Net (loss) income before income from subsidiaries
(42
)
 
608

 
(151
)
 
113

 
552

 

 
1,080

Income (loss) from subsidiaries
1,118

 
167

 
774

 
831

 
(901
)
 
(1,989
)
 

Net income (loss)
$
1,076

 
$
775

 
$
623

 
$
944

 
$
(349
)
 
$
(1,989
)
 
$
1,080

Net income attributable to non-controlling interest

 

 

 

 
(4
)
 

 
(4
)
Net income (loss) attributable to AerCap Holdings N.V. 
$
1,076

 
$
775

 
$
623

 
$
944

 
$
(353
)
 
$
(1,989
)
 
$
1,076

 
(a)
Guarantors consist of AerCap U.S. Global Aviation LLC, AerCap Aviation Solutions B.V., AerCap Ireland Ltd. and ILFC.
Condensed Consolidating Income Statement
 
Year Ended December 31, 2016
 
AerCap
Holdings N.V.
 
AerCap
Global
Aviation
Trust
 
AerCap
Ireland
Capital
Designated
Activity
Company
 
Guarantors(a)
 
Non-
Guarantors
 
Eliminations
 
Total
 
(U.S. Dollars in millions)
Revenues and other income
 
 
 
 
 
 
 
 
 
 
 
 
 
Lease revenue
$

 
$
2,058

 
$

 
$
205

 
$
2,605

 
$

 
$
4,868

Net gain on sale of assets

 
33

 

 
6

 
100

 

 
139

Other income (loss)
6

 
653

 

 
552

 
359

 
(1,425
)
 
145

Total Revenues and other income
6

 
2,744

 

 
763

 
3,064

 
(1,425
)
 
5,152

Expenses
 
 
 
 
 
 
 
 
 
 
 
 
 
Depreciation and amortization

 
770

 

 
72

 
949

 

 
1,791

Asset impairment

 
32

 

 

 
50

 

 
82

Interest expense

 
753

 
184

 
385

 
955

 
(1,185
)
 
1,092

Leasing expenses

 
290

 

 
27

 
266

 

 
583

Transaction, integration and restructuring related expenses

 

 

 

 
53

 

 
53

Selling, general and administrative expenses
60

 
120

 
1

 
102

 
308

 
(240
)
 
351

Total Expenses
60

 
1,965

 
185

 
586

 
2,581

 
(1,425
)
 
3,952

(Loss) income before income taxes and income of investments accounted for under the equity method
(54
)
 
779

 
(185
)
 
177

 
483

 

 
1,200

Provision for income taxes
7

 
(97
)
 
23

 
(36
)
 
(70
)
 

 
(173
)
Equity in net earnings of investments accounted for under the equity method

 

 

 

 
13

 

 
13

Net (loss) income before income from subsidiaries
(47
)
 
682

 
(162
)
 
141

 
426

 

 
1,040

Income (loss) from subsidiaries
1,094

 
237

 
919

 
701

 
(867
)
 
(2,084
)
 

Net income (loss)
$
1,047

 
$
919

 
$
757

 
$
842

 
$
(441
)
 
$
(2,084
)
 
$
1,040

Net loss attributable to non-controlling interest

 

 

 

 
7

 

 
7

Net income (loss) attributable to AerCap Holdings N.V. 
$
1,047

 
$
919

 
$
757

 
$
842

 
$
(434
)
 
$
(2,084
)
 
$
1,047

 
(a)
Guarantors consist of AerCap U.S. Global Aviation LLC, AerCap Aviation Solutions B.V., AerCap Ireland Ltd. and ILFC.
Condensed Consolidating Income Statement
 
Year Ended December 31, 2015
 
AerCap
Holdings N.V.
 
AerCap
Global
Aviation
Trust
 
AerCap
Ireland
Capital
Designated
Activity
Company
 
Guarantors(a)
 
Non-
Guarantors
 
Eliminations
 
Total
 
(U.S. Dollars in millions)
Revenues and other income
 
 
 
 
 
 
 
 
 
 
 
 
 
Lease revenue
$

 
$
2,355

 
$

 
$
134

 
$
2,503

 
$

 
$
4,992

Net gain on sale of assets

 
168

 

 
13

 
2

 

 
183

Other income (loss)
9

 
599

 
14

 
479

 
319

 
(1,307
)
 
113

Total Revenues and other income
9

 
3,122

 
14

 
626

 
2,824

 
(1,307
)
 
5,288

Expenses
 
 
 
 
 
 
 
 
 
 
 
 
 
Depreciation and amortization

 
868

 

 
65

 
910

 

 
1,843

Asset impairment

 
3

 

 

 
13

 

 
16

Interest expense
12

 
780

 
164

 
359

 
735

 
(950
)
 
1,100

Leasing expenses

 
266

 

 
61

 
195

 

 
522

Transaction, integration and restructuring related expenses

 

 

 
9

 
50

 

 
59

Selling, general and administrative expenses
108

 
112

 

 
257

 
262

 
(357
)
 
382

Total Expenses
120

 
2,029

 
164

 
751

 
2,165

 
(1,307
)
 
3,922

(Loss) income before income taxes and income of investments accounted for under the equity method
(111
)
 
1,093

 
(150
)
 
(125
)
 
659

 

 
1,366

Provision for income taxes
28

 
(136
)
 
19

 
38

 
(139
)
 

 
(190
)
Equity in net earnings of investments accounted for under the equity method

 

 

 

 
1

 

 
1

Net (loss) income before income from subsidiaries
(83
)
 
957

 
(131
)
 
(87
)
 
521

 

 
1,177

Income (loss) from subsidiaries
1,262

 
104

 
1,060

 
933

 
(1,090
)
 
(2,269
)
 

Net income (loss)
$
1,179

 
$
1,061

 
$
929

 
$
846

 
$
(569
)
 
$
(2,269
)
 
$
1,177

Net loss attributable to non-controlling interest

 

 

 

 
2

 

 
2

Net income (loss) attributable to AerCap Holdings N.V. 
$
1,179

 
$
1,061

 
$
929

 
$
846

 
$
(567
)
 
$
(2,269
)
 
$
1,179

 
(a)
Guarantors consist of AerCap U.S. Global Aviation LLC, AerCap Aviation Solutions B.V., AerCap Ireland Ltd. and ILFC.
Condensed consolidated statements of cash flows
Condensed Consolidating Statement of Cash Flows
 
Year Ended December 31, 2017
 
AerCap
Holdings N.V.
 
AerCap
Global
Aviation
Trust
 
AerCap
Ireland
Capital
Designated
Activity
Company
 
Guarantors(a)
 
Non-
Guarantors
 
Eliminations
 
Total
 
(U.S. Dollars in millions)
Net income (loss)
$
1,076

 
$
775

 
$
623

 
$
944

 
$
(349
)
 
$
(1,989
)
 
$
1,080

Adjustments to reconcile net income (loss) to net cash provided by operating activities:
 
 
 
 
 
 
 
 
 
 
 
 
 
(Income) loss from subsidiaries
(1,118
)
 
(167
)
 
(774
)
 
(831
)
 
901

 
1,989

 

Depreciation and amortization

 
630

 

 
87

 
1,010

 

 
1,727

Asset impairment

 
9

 

 
3

 
49

 

 
61

Amortization of debt issuance costs and debt discount

 
14

 
5

 
5

 
41

 

 
65

Amortization of lease premium intangibles

 
4

 

 

 
10

 

 
14

Amortization of fair value adjustments on debt

 
(192
)
 

 

 
(3
)
 

 
(195
)
Accretion of fair value adjustments on deposits and maintenance liabilities

 
16

 

 
1

 
14

 

 
31

Maintenance rights write-off

 
282

 

 
13

 
245

 

 
540

Maintenance liability release to income

 
(100
)
 

 
(23
)
 
(179
)
 

 
(302
)
Net gain on sale of assets

 
(113
)
 

 
(20
)
 
(96
)
 

 
(229
)
Deferred income taxes
(7
)
 
87

 
(19
)
 
35

 
61

 

 
157

Restructuring related expenses

 

 

 

 
5

 

 
5

Other
62

 
9

 

 
45

 
5

 

 
121

Cash flow from operating activities before changes in working capital
13

 
1,254

 
(165
)
 
259

 
1,714

 

 
3,075

Working capital
1,143

 
(163
)
 
(272
)
 
693

 
(1,336
)
 

 
65

Net cash provided by (used in) operating activities
1,156

 
1,091

 
(437
)
 
952

 
378

 

 
3,140

Purchase of flight equipment

 
(1,685
)
 

 
(549
)
 
(1,723
)
 

 
(3,957
)
Proceeds from sale or disposal of assets

 
893

 

 
137

 
749

 

 
1,779

Prepayments on flight equipment

 
(936
)
 

 

 
(332
)
 

 
(1,268
)
Collections of finance and sales-type leases

 
49

 

 
33

 
10

 

 
92

Movement in restricted cash

 

 

 
(1
)
 
(34
)
 

 
(35
)
Other

 
(36
)
 

 

 
(2
)
 

 
(38
)
Net cash used in investing activities

 
(1,715
)
 

 
(380
)
 
(1,332
)
 

 
(3,427
)
Issuance of debt

 
2,431

 
400

 

 
2,765

 

 
5,596

Repayment of debt

 
(2,400
)
 

 
(317
)
 
(1,978
)
 

 
(4,695
)
Debt issuance costs paid

 
(28
)
 
(13
)
 
(3
)
 
(37
)
 

 
(81
)
Maintenance payments received

 
251

 

 
65

 
440

 

 
756

 
Year Ended December 31, 2017
 
AerCap
Holdings N.V.
 
AerCap
Global
Aviation
Trust
 
AerCap
Ireland
Capital
Designated
Activity
Company
 
Guarantors(a)
 
Non-
Guarantors
 
Eliminations
 
Total
 
(U.S. Dollars in millions)
Maintenance payments returned

 
(216
)
 

 
(40
)
 
(267
)
 

 
(523
)
Security deposits received

 
58

 

 
30

 
98

 

 
186

Security deposits returned

 
(79
)
 

 
(11
)
 
(98
)
 

 
(188
)
Repurchase of shares and tax withholdings on share-based compensation
(1,139
)
 

 

 

 

 

 
(1,139
)
Net cash (used in) provided by financing activities
(1,139
)
 
17

 
387

 
(276
)
 
923

 

 
(88
)
Net increase (decrease) in cash and cash equivalents
17

 
(607
)
 
(50
)
 
296

 
(31
)
 

 
(375
)
Cash and cash equivalents at beginning of period
4

 
829

 
64

 
931

 
207

 

 
2,035

Cash and cash equivalents at end of period
$
21

 
$
222

 
$
14

 
$
1,227

 
$
176

 
$

 
$
1,660

 
(a)
Guarantors consist of AerCap U.S. Global Aviation LLC, AerCap Aviation Solutions B.V., AerCap Ireland Ltd. and ILFC.
Condensed Consolidating Statement of Cash Flows
 
Year Ended December 31, 2016
 
AerCap
Holdings N.V.
 
AerCap
Global
Aviation
Trust
 
AerCap
Ireland
Capital
Designated
Activity
Company
 
Guarantors(a)
 
Non-
Guarantors
 
Eliminations
 
Total
 
(U.S. Dollars in millions)
Net income (loss)
$
1,047

 
$
919

 
$
757

 
$
842

 
$
(441
)
 
$
(2,084
)
 
$
1,040

Adjustments to reconcile net income (loss) to net cash provided by operating activities:
 
 
 
 
 
 
 
 
 
 
 
 
 
(Income) loss from subsidiaries
(1,094
)
 
(237
)
 
(919
)
 
(701
)
 
867

 
2,084

 

Depreciation and amortization

 
770

 

 
72

 
949

 

 
1,791

Asset impairment

 
32

 

 

 
50

 

 
82

Amortization of debt issuance costs and debt discount

 
13

 
5

 
4

 
34

 

 
56

Amortization of lease premium intangibles

 
7

 

 

 
13

 

 
20

Amortization of fair value adjustments on debt

 
(330
)
 

 

 
(6
)
 

 
(336
)
Accretion of fair value adjustments on deposits and maintenance liabilities

 
33

 

 
2

 
20

 

 
55

Maintenance rights write-off

 
395

 

 
22

 
235

 

 
652

Maintenance liability release to income

 
(206
)
 

 
(19
)
 
(196
)
 

 
(421
)
Net gain on sale of assets

 
(33
)
 

 
(6
)
 
(100
)
 

 
(139
)
Deferred income taxes
(7
)
 
98

 
(22
)
 
28

 
64

 

 
161

Restructuring related expenses

 

 

 

 
34

 

 
34

Other
63

 
13

 

 
(7
)
 
53

 

 
122

Cash flow from operating activities before changes in working capital
9

 
1,474

 
(179
)
 
237

 
1,576

 

 
3,117

Working capital
1,002

 
911

 
181

 
(545
)
 
(1,285
)
 

 
264

Net cash provided by (used in) operating activities
1,011

 
2,385

 
2

 
(308
)
 
291

 

 
3,381

Purchase of flight equipment

 
(594
)
 

 
(298
)
 
(2,001
)
 

 
(2,893
)
Proceeds from sale or disposal of assets

 
998

 

 
158

 
1,211

 

 
2,367

Prepayments on flight equipment

 
(937
)
 

 
(9
)
 
(1
)
 

 
(947
)
Collections of finance and sales-type leases

 
26

 

 
22

 
26

 

 
74

Movement in restricted cash

 

 

 
9

 
81

 

 
90

Other

 

 

 
(22
)
 

 

 
(22
)
Net cash used in investing activities

 
(507
)
 

 
(140
)
 
(684
)
 

 
(1,331
)
Issuance of debt

 
1,012

 
35

 

 
2,595

 

 
3,642

Repayment of debt

 
(2,825
)
 
(35
)
 
(8
)
 
(2,346
)
 

 
(5,214
)
Debt issuance costs paid

 
(9
)
 

 
(2
)
 
(24
)
 

 
(35
)
Maintenance payments received

 
292

 

 
39

 
465

 

 
796

 
Year Ended December 31, 2016
 
AerCap
Holdings N.V.
 
AerCap
Global
Aviation
Trust
 
AerCap
Ireland
Capital
Designated
Activity
Company
 
Guarantors(a)
 
Non-
Guarantors
 
Eliminations
 
Total
 
(U.S. Dollars in millions)
Maintenance payments returned

 
(234
)
 

 
(30
)
 
(241
)
 

 
(505
)
Security deposits received

 
57

 

 
25

 
120

 

 
202

Security deposits returned

 
(111
)
 

 
(10
)
 
(150
)
 

 
(271
)
Dividend paid to non-controlling interest holders








(11
)



(11
)
Repurchase of shares and tax withholdings on share-based compensation
(1,021
)