AerCap Holdings N.V. Reports Financial Results for Third Quarter 2015
(Thomson Reuters ONE) -
Amsterdam, Netherlands; November 10, 2015
* Adjusted net income was:
* $328.0 million for the third quarter of 2015
(reported net income of $293.9 million)
* $993.7 million for the nine months ended September 30, 2015
(reported net income of $914.5 million)
* Adjusted basic earnings per share were:
* $1.66 for the third quarter of 2015
(reported basic earnings per share of $1.49)
* $4.82 for the nine months ended September 30, 2015
(reported basic earnings per share of $4.44)
Highlights
* 306 aircraft transactions, including 86 widebody aircraft, executed in the
nine month period ended September 30, 2015.
* 99.7% fleet utilization rate for the third quarter of 2015 and 5.9 years
average remaining contracted lease term as of September 30, 2015.
* Commitments to purchase 458 aircraft, as of September 30, 2015, with
scheduled delivery dates through 2022. Approximately 80% of aircraft
purchases delivering through December 2018 are leased under a lease contract
or letter of intent on an average 12-year lease term.
* Completed the sale of a $0.6 billion ten-aircraft portfolio which included
eight widebody aircraft.
* $6.4 billion of available liquidity as of September 30, 2015.
* In October 2015, we completed the offering of $1.0 billion senior unsecured
notes due 2020 which was upsized from initial launch size of $0.4 billion.
Aengus Kelly, CEO of AerCap, commented: "We are delighted to be reporting
industry leading earnings in a sector with very resilient fundamentals. AerCap's
strong growth profile, as well as the efficiency of our platform, have
contributed to adjusted basic earnings per share of $4.82 for the nine months
ended September 30, 2015, already exceeding the full year guidance of $4.00
announced during the ILFC acquisition.
Demand for the most modern and fuel efficient narrowbody aircraft remains strong
and we continue to see stable values and demand for widebody aircraft types.
Approximately 80% of our orderbook through December 2018 has already been placed
and we continue to see the growing demand for operating leases globally."
Third Quarter 2015 Financial Results
* Adjusted net income of $328.0 million, compared with $294.0 million for the
same period in 2014. Adjusted basic earnings per share of $1.66, compared
with $1.39 for the same period in 2014. Increases in adjusted net income and
earnings per share over the third quarter of 2014 were driven primarily by
gain on sale of assets partially offset by lower earnings from investments
accounted for under the equity method. The gain in earnings per share was
also driven by lower outstanding shares as a result of share repurchases
completed in the second quarter of 2015.
* Reported net income of $293.9 million, compared with $333.8 million for the
same period in 2014. Reported basic earnings per share of $1.49, compared
with $1.57 for the same period in 2014. Decreases in reported net income and
earnings per share over the third quarter of 2014 were driven primarily by
lower than average maintenance rights related expenses during 2014.
* Debt/equity ratio of 3.1 to 1 as of September 30, 2015 compared to 3.5 to 1
as of September 30, 2014, reflecting our commitment to deleveraging post the
ILFC Transaction.
Net Income/Earnings Per Share
Set forth below are the details to reconcile reported net income to adjusted net
income, including the specific adjustments.
Three months ended Nine months ended
September 30, September 30,
-------------------------------- -------------------------------
% %
increase/ increase/
2015 2014 (decrease) 2015 2014 (decrease)
--------- --------- ------------ --------- --------- -----------
(US dollars in millions except (US dollars in millions except
per share amounts) per share amounts)
Net income $293.9 $333.8 (12%) $914.5 $512.2 79%
Adjusted
for:
Mark-to-
market of
interest
rate caps
and swaps,
net of tax 9.3 0.4 2,225% 16.0 10.4 54%
Transaction
and
integration
related
expenses,
net of tax 2.3 12.6 (82%) 7.1 119.8 (94%)
Maintenance
rights
related
expenses,
net of tax 22.5 (52.8) NA 56.1 (83.6) NA
--------- --------- ------------ --------- --------- -----------
Adjusted net
income $328.0 $294.0 12% $993.7 $558.8 78%
--------- --------- ------------ --------- --------- -----------
Adjusted
earnings per
share -
basic $1.66 $1.39 20% $4.82 $3.41 41%
Third quarter 2015 adjusted net income increased 12% over the same period in
2014 and third quarter 2015 adjusted earnings per share increased 20% over the
same period in 2014. The increases were driven primarily by gain on sale of
assets and, in the case of earnings per share, lower outstanding shares as a
result of share repurchases completed in the second quarter of 2015. Third
quarter 2015 reported net income and reported earnings per share were impacted
by the same drivers in addition to the adjustments in the table above.
Adjusted net income reflects, among other items, expensing the maintenance
rights asset over the remaining economic life of the aircraft as compared to
expensing this asset during the remaining lease term as reflected in reported
net income. The maintenance rights asset represents the difference between the
actual physical condition of the former ILFC aircraft at the acquisition date
and the value based on the contractual return conditions in the lease contracts.
We believe adjusted net income may further assist investors in their
understanding of our operational and financial performance. The difference in
the two methods has no economic impact as it is non-cash and equalizes over
time. Refer to Notes Regarding Financial Information Presented in This Press
Release for details relating to the adjustments.
Revenue and Net Spread
Three months ended Nine months ended
September 30, September 30,
------------------------------------ -----------------------------------
% %
increase/ increase/
2015 2014 (decrease) 2015 2014 (decrease)
----------- ----------- ------------ ----------- ----------- -----------
(US dollars in millions) (US dollars in millions)
Lease
revenue:
Basic
lease rents $1,164.6 $1,172.3 (1%) $3,487.0 $2,123.8 64%
Maintenance
rents and
other
receipts 81.1 43.7 86% 219.1 86.9 152%
----------- ----------- ------------ ----------- ----------- -----------
Lease
revenue 1,245.7 1,216.0 2% 3,706.1 2,210.7 68%
Net gain on
sale of
assets 51.6 2.8 1,743% 139.9 11.7 1,096%
Other
income 25.5 26.1 (2%) 103.5 76.5 35%
----------- ----------- ------------ ----------- ----------- -----------
Total
Revenues
and other
income $1,322.8 $1,244.9 6% $3,949.5 $2,298.9 72%
----------- ----------- ------------ ----------- ----------- -----------
Basic lease rents were $1,164.6 million for the third quarter of 2015, compared
with $1,172.3 million for the same period in 2014. The decrease was driven
primarily by the extension of leases prior to their contracted redelivery dates.
The accounting for extensions requires the remaining rental payments to be
recorded on a straight-line basis over the remaining months of the original
lease plus the extension period. This results in a decrease in basic lease rents
during the remaining months of the original lease which will be offset by an
increase in basic lease rents during the extension period. Our average lease
assets for the third quarter of 2015 were $36.4 billion, compared with $35.8
billion for the same period in 2014.
Net gain on sale of assets for the third quarter of 2015 was $51.6 million,
relating to 12 aircraft, compared with a net gain of $2.8 million, relating to
six older aircraft, for the same period in 2014. During the third quarter of
2015, we also parted-out one aircraft and reclassified one aircraft to a finance
lease, which had no impact on net gain on sale of assets.
Other income for the third quarter of 2015 was $25.5 million, compared with
$26.1 million for the same period in 2014.
Three months ended Nine months ended
September 30, September 30,
------------------------------------ -----------------------------------
% %
increase/ increase/
2015 2014 (decrease) 2015 2014 (decrease)
----------- ----------- ------------ ----------- ----------- -----------
(US dollars in millions) (US dollars in millions)
Basic
lease
rents $1,164.6 $1,172.3 (1%) $3,487.0 $2,123.8 64%
Interest
expense 282.9 265.4 7% 825.5 500.0 65%
Adjusted
for:
Mark-
to-
market
of
interest
rate
caps and
swaps (10.6) (0.5) 2,055% (18.2) (11.9) 53%
----------- ----------- ------------ ----------- ----------- -----------
Adjusted
interest
expense 272.3 264.9 3% 807.3 488.1 65%
----------- ----------- ------------ ----------- ----------- -----------
Net
interest
margin,
or net
spread $892.3 $907.4 (2%) $2,679.7 $1,635.7 64%
----------- ----------- ------------ ----------- ----------- -----------
As shown in the table above, adjusted interest expense was $272.3 million in the
third quarter of 2015, a 3% increase compared with the same period in 2014. Net
spread was $892.3 million in the third quarter of 2015, a 2% decrease compared
with the same period in 2014.
Selling, General and Administrative Expenses
Three months ended Nine months ended
September 30, September 30,
------------------------------ -------------------------------
% %
increase/ increase/
2015 2014 (decrease) 2015 2014 (decrease)
-------- -------- ------------ --------- --------- -----------
(US dollars in millions) (US dollars in millions)
Selling,
general and
administrative
expenses $66.1 $70.3 (6%) $202.5 $139.2 45%
Share-based
compensation
expenses 25.1 25.7 (2%) 75.2 43.2 74%
-------- -------- ------------ --------- --------- -----------
Total selling,
general and
administrative
expenses $91.2 $96.0 (5%) $277.7 $182.4 52%
-------- -------- ------------ --------- --------- -----------
The decrease in selling, general, and administrative expenses, period over
period, reflects realized synergies after the ILFC Transaction.
Effective Tax Rate
AerCap's blended effective tax rate during the third quarter of 2015 was 13.5%.
The blended effective tax rate for the year ended December 31, 2014 was 15.0%.
The decrease in our effective tax rate is driven primarily by the transfer of
aircraft and substantial business operations from the United States to Ireland.
The blended effective tax rate in any year is impacted by the source and amount
of earnings among AerCap's different tax jurisdictions.
Financial Position
% increase/
(decrease) over
September 30, December 31, December 31,
2015 2014 2014
--------------- -------------- ----------------------
(US dollars in millions except d/e ratio)
Total cash (incl.
restricted $1,686.1 $2,207.8 (24%)
Total lease assets (*) 35,906.4 36,034.9 (0%)
Total assets 43,202.1 43,867.4 (2%)
Debt 29,321.2 30,402.4 (4%)
Total liabilities 35,065.8 35,924.8 (2%)
Total equity 8,136.3 7,942.5 2%
Adjusted debt (**) 27,269.7 28,412.0 (4%)
Adjusted equity (**) 8,886.3 8,442.5 5%
Debt/equity ratio 3.1 to 1 3.4 to 1 (9%)
(*) Includes flight equipment held for operating lease, net investment in
finance and sales-type leases and maintenance rights intangible asset
(**) Refer to Notes Regarding Financial Information Presented in This Press
Release for details relating to the adjustments
As of September 30, 2015, AerCap's portfolio consisted of 1,725 aircraft that
were owned, on order, under contract or managed (including aircraft owned by
AerDragon, a non-consolidated joint venture). The average age of the owned fleet
as of September 30, 2015 was 7.7 years and the average remaining contracted
lease term was 5.9 years.
Notes Regarding Financial Information Presented in This Press Release
The financial information presented in this press release is not audited.
The following is a definition of non-GAAP measures used in this press release.
We believe these measures may further assist investors in their understanding of
our operational performance.
Adjusted net income and adjusted earnings per share. These measures are
determined by adding non-cash charges relating to gains and losses created by a
mark-to-market of our interest rate caps and swaps, an adjustment for
maintenance rights related expense, and transaction and integration related
expenses, in each case during the applicable period and net of tax, to GAAP net
income. The average number of shares is based on a daily average.
We use interest rate caps and swaps to allow us to benefit from decreasing
interest rates and protect against the negative impact of rising interest rates
on our floating rate debt. Management determines the appropriate level of caps
in any period with reference to the mix of floating and fixed cash flows from
our lease, debt and other contracts. We do not apply hedge accounting to our
interest rate caps and some of our swaps. As a result, we recognize the change
in fair value of these interest rate caps and swaps in our income statement
during each period.
In connection with the ILFC transaction, we have recognized maintenance rights
intangible assets associated with existing leases on the legacy ILFC aircraft
and we are expensing these assets during the remaining lease terms. The
adjustment for maintenance rights related expense represents the difference
between expensing the maintenance rights intangible assets on a more accelerated
basis during the remaining lease terms (as in the Company's reported net income)
as compared to expensing these assets on a straight-line basis over the
remaining economic life of the aircraft (as in the Company's adjusted net
income).
In addition, adjusted net income excludes the following non-recurring charges:
* Third quarter 2015 adjusted net income of $328.0 million excludes expenses
relating to the ILFC transaction and integration of $2.3 million, net of
tax.
* Adjusted net income of $993.7 million for the nine months ended September
30, 2015 excludes expenses relating to the ILFC transaction and integration
of $7.1 million, net of tax.
* Third quarter 2014 adjusted net income of $294.0 million excludes expenses
relating to the ILFC transaction and integration of $12.6 million, net of
tax.
* Adjusted net income of $558.8 million for the nine months ended September
30, 2014 excludes expenses relating to the ILFC transaction and integration
of $119.8 million, net of tax.
In addition to GAAP net income and earnings per share, we believe these measures
may further assist investors in their understanding of our operational
performance in relation to past and future reporting periods. A reconciliation
of adjusted net income to net income for the three and nine months ended
September 30, 2015 and 2014 is presented in a table under the Net
Income/Earnings Per Share section of this press release.
Net interest margin, or net spread (refer to second table under Revenue and Net
Spread section of this press release). This measure is the difference between
basic lease rents and interest expense, excluding the impact from the mark-to-
market of interest rate caps. We believe this measure may further assist
investors in their understanding of the changes and trends related to the
earnings of our leasing activities. This measure reflects the impact from
changes in the number of aircraft leased, lease rates, utilization rates, as
well as the impact from changes in the amount of debt and interest rates.
Debt/equity ratio. This measure is the ratio obtained by dividing adjusted debt
by adjusted equity.
* Adjusted debt means consolidated total debt less cash and cash equivalents,
and less a 50% equity credit with respect to certain long-term subordinated
debts.
* Adjusted equity means total equity, plus the 50% equity credit relating to
the long-term subordinated debts.
Adjusted debt and adjusted equity are adjusted by the 50% equity credit to
reflect the equity nature of those financing arrangements and to provide
information in line with definitions under certain of our debt covenants.
Conference Call
In connection with the earnings release, management will host an earnings
conference call today, Tuesday, November 10, 2015, at 9:00 am Eastern Time. The
call can be accessed live by dialing (U.S./Canada) +1 646 254 3387 or
(International) +31 20 716 8250 and referencing code 8440858 at least 5 minutes
before start time, or by visiting AerCap's website at www.aercap.com under
"Investor Relations."
The webcast replay will be archived in the "Investor Relations" section of the
Company's website for one year.
For further details and to register for this event please email:
aercap(at)instinctif.com.
For further information, contact John Wikoff: +31 63 169 9430
(jwikoff(at)aercap.com) or Mark Walter (Instinctif Partners): +44 20 7457 2020
(aercap(at)instinctif.com).
About AerCap Holdings N.V.
AerCap is the global leader in aircraft leasing with 1,725 owned, managed or on
order aircraft in its portfolio. AerCap has one of the most attractive order
books in the industry. AerCap serves over 200 customers in approximately 90
countries with comprehensive fleet solutions, and provides part-out and engine
leasing services through its subsidiary, AeroTurbine. AerCap is listed on the
New York Stock Exchange (AER) and has its headquarters in Amsterdam with offices
in Dublin, Los Angeles, Shannon, Fort Lauderdale, Miami, Singapore, Shanghai,
Abu Dhabi, Seattle and Toulouse.
Forward-Looking Statements
This press release contains certain statements, estimates and forecasts with
respect to future performance and events. These statements, estimates and
forecasts are "forward-looking statements". In some cases, forward-looking
statements can be identified by the use of forward-looking terminology such as
"may," "might," "should," "expect," "plan," "intend," "estimate," "anticipate,"
"believe," "predict," "potential" or "continue" or the negatives thereof or
variations thereon or similar terminology. All statements other than statements
of historical fact included in this press release are forward-looking statements
and are based on various underlying assumptions and expectations and are subject
to known and unknown risks, uncertainties and assumptions, may include
projections of our future financial performance based on our growth strategies
and anticipated trends in our business. These statements are only predictions
based on our current expectations and projections about future events. There are
important factors that could cause our actual results, level of activity
performance or achievements to differ materially from the results, level of
activity, performance or achievements expressed or implied in the forward-
looking statements. As a result, there can be no assurance that the forward-
looking statements included in this press release will prove to be accurate or
correct. In light of these risks, uncertainties and assumptions, the future
performance or events described in the forward-looking statements in this press
release might not occur. Accordingly, you should not rely upon forward-looking
statements as a prediction of actual results and we do not assume any
responsibility for the accuracy or completeness of any of these forward-looking
statements. We do not undertake any obligation to, and will not, update any
forward-looking statements, whether as a result of new information, future
events or otherwise.
For more information regarding AerCap and to be added to our email distribution
list, please visit www.aercap.com.
Financial Statements Follow
The results of ILFC have been consolidated in AerCap Holdings N.V.'s financial
statements as of May 14, 2014, the completion date of the acquisition.
+------------------------------------------------------------------------------+
| |
| |
| AerCap Holdings N.V. |
| |
| Unaudited Consolidated Balance |
| Sheets |
| |
| (In thousands of U.S. Dollars) |
| |
| |
| |
| September 30, 2015 December 31, 2014 |
| -------------------- ------------------- |
| |
| |
| Assets |
| |
| Cash and cash equivalents $1,301,492 $1,490,369 |
| |
| Restricted cash 384,657 717,388 |
| |
| Trade receivables 178,520 160,412 |
| |
| Flight equipment held for |
| operating leases, net 32,247,129 31,984,668 |
| |
| Maintenance rights intangible and |
| lease premium, net 3,406,062 3,906,026 |
| |
| Flight equipment held for sale 9,889 14,082 |
| |
| Net investment in finance and |
| sales-type leases 436,063 347,091 |
| |
| Prepayments on flight equipment 3,436,012 3,486,514 |
| |
| Other intangibles, net 499,817 523,709 |
| |
| Deferred income tax assets 149,571 190,029 |
| |
| Other assets 1,152,875 1,047,092 |
| -------------------- ------------------- |
| Total Assets $43,202,087 $43,867,380 |
| -------------------- ------------------- |
| |
| |
| |
| |
| Liabilities and Equity |
| |
| Accounts payable, accrued |
| expenses and other liabilities $1,141,038 $1,195,880 |
| |
| Accrued maintenance liability 3,315,132 3,194,365 |
| |
| Lessee deposit liability 906,458 848,332 |
| |
| Debt 29,321,208 30,402,392 |
| |
| Deferred income tax liabilities 381,963 283,863 |
| -------------------- ------------------- |
| Total liabilities 35,065,799 35,924,832 |
| |
| |
| |
| Ordinary share capital ?0.01 par |
| value (350,000,000 ordinary |
| shares authorized, 213,109,795 |
| ordinary |
| |
| shares issued and 197,532,637 |
| ordinary shares outstanding at |
| September 30, 2015 and |
| 212,318,291 |
| |
| ordinary shares issued and |
| outstanding at December 31, 2014) 2,568 2,559 |
| |
| Additional paid-in capital 5,598,512 5,557,627 |
| |
| Treasury shares (15,577,158 |
| ordinary shares) (755,118) - |
| |
| Accumulated other comprehensive |
| loss (6,539) (6,895) |
| |
| Accumulated retained earnings 3,220,402 2,310,486 |
| -------------------- ------------------- |
| Total AerCap Holdings N.V. |
| shareholders' equity 8,059,825 7,863,777 |
| |
| Non-controlling interest 76,463 78,771 |
| -------------------- ------------------- |
| Total Equity 8,136,288 7,942,548 |
| |
| |
| -------------------- ------------------- |
| Total Liabilities and Equity $43,202,087 $43,867,380 |
| -------------------- ------------------- |
| |
+------------------------------------------------------------------------------+
+------------------------------------------------------------------------------+
| |
| |
| AerCap Holdings |
| N.V. |
| |
| Unaudited |
| Consolidated |
| Income |
| Statements |
| |
| (In thousands of |
| U.S. Dollars, |
| except share and |
| per share data) |
| |
| |
| |
| Three months ended Nine months ended |
| September 30, September 30, |
| ---------------------------- ---------------------------- |
| 2015 2014 2015 2014 |
| ------------- -------------- ------------- -------------- |
| |
| |
| Revenues and |
| other income |
| |
| Lease revenue $1,245,689 $1,216,016 $3,706,105 $2,210,733 |
| |
| Net gain on sale |
| of assets 51,576 2,786 139,883 11,656 |
| |
| Other income 25,542 26,139 103,553 76,530 |
| ------------- -------------- ------------- -------------- |
| Total Revenues |
| and other income 1,322,807 1,244,941 3,949,541 2,298,919 |
| |
| |
| |
| Expenses |
| |
| Depreciation and |
| amortization 459,669 456,672 1,371,284 823,716 |
| |
| Asset impairment 7,912 1,584 15,355 1,871 |
| |
| Interest expense 282,855 265,375 825,474 500,039 |
| |
| Leasing expenses 132,951 31,394 396,104 66,728 |
| |
| Transaction and |
| integration |
| related expenses 2,623 14,386 8,099 136,863 |
| |
| Selling, general |
| and |
| administrative |
| expenses 91,191 96,011 277,729 182,398 |
| ------------- -------------- ------------- -------------- |
| Total Expenses 977,201 865,422 2,894,045 1,711,615 |
| ------------- -------------- ------------- -------------- |
| |
| |
| Income from |
| continuing |
| operations |
| before income |
| taxes and income |
| |
| of investments |
| accounted for |
| under the equity |
| method 345,606 379,519 1,055,496 587,304 |
| |
| |
| |
| Provision for |
| income taxes (46,658) (65,374) (142,494) (102,781) |
| |
| Equity in net |
| (loss) earnings |
| of investments |
| accounted for |
| under the equity |
| method (4,550) 21,037 (542) 27,200 |
| ------------- -------------- ------------- -------------- |
| |
| |
| Net income $294,398 $335,182 $912,460 $511,723 |
| |
| |
| |
| Net (income) |
| loss |
| attributable to |
| non-controlling |
| interest (481) (1,341) 2,061 501 |
| |
| |
| ------------- -------------- ------------- -------------- |
| Net income |
| attributable to |
| AerCap Holdings |
| N.V $293,917 $333,841 $914,521 $512,224 |
| ------------- -------------- ------------- -------------- |
| |
| |
| Total basic |
| earnings per |
| share $1.49 $1.57 $4.44 $3.13 |
| |
| Total diluted |
| earnings per |
| share $1.48 $1.56 $4.38 $3.08 |
| |
| |
| |
| Weighted average |
| shares |
| outstanding - |
| basic 197,264,160 212,070,104 206,054,934 163,722,591 |
| |
| Weighted average |
| shares |
| outstanding - |
| diluted 199,215,352 214,398,654 208,568,730 166,095,640 |
| |
| |
+------------------------------------------------------------------------------+
+------------------------------------------------------------------------------+
| |
| |
| AerCap Holdings N.V. |
| |
| Unaudited Consolidated Statements of Cash |
| Flows |
| |
| (In thousands of U.S. Dollars) |
| |
| |
| |
| Nine months ended September |
| 30, |
| ----------------------------- |
| 2015 2014 |
| ------------- --------------- |
| |
| |
| Net income $912,460 $511,723 |
| |
| Adjustments to reconcile net income to net |
| cash provided by operating activities: |
| |
| Depreciation and amortization 1,371,284 823,716 |
| |
| Asset impairment 15,355 1,871 |
| |
| Amortization of debt issuance costs and debt |
| discount 34,322 74,284 |
| |
| Amortization of lease premium intangibles 17,689 11,618 |
| |
| Amortization of fair value adjustment on |
| debt (348,377) (208,510) |
| |
| Accretion of fair value adjustment on |
| deposits and maintenance liabilities 59,215 44,809 |
| |
| Maintenance rights write off 396,007 34,411 |
| |
| Maintenance liability release to income (78,769) (25,853) |
| |
| Net gain on sale of assets (139,883) (11,656) |
| |
| Deferred income taxes 138,558 98,114 |
| |
| Other 88,230 64,596 |
| |
| Changes in operating assets and |
| liabilities: |
| |
| Trade receivables (20,108) 88,612 |
| |
| Other assets 5,310 65,257 |
| |
| Accounts payable, accrued expenses and |
| other liabilities (45,063) (99,002) |
| ------------- --------------- |
| Net cash provided by operating activities 2,406,230 1,473,990 |
| |
| |
| |
| Purchase of flight equipment (2,029,973) (1,373,863) |
| |
| Proceeds from sale or disposal of assets 1,086,513 487,555 |
| |
| Prepayments on flight equipment (643,499) (265,398) |
| |
| Acquisition of ILFC, net of cash acquired - (195,311) |
| |
| Collections of finance and sales-type leases 40,388 28,900 |
| |
| Movement in restricted cash 332,731 326,604 |
| |
| Other (46,400) - |
| ------------- --------------- |
| Net cash used in investing activities (1,260,240) (991,513) |
| |
| |
| |
| Issuance of debt 2,725,275 4,453,455 |
| |
| Repayment of debt (3,441,730) (3,562,887) |
| |
| Debt issuance costs paid (22,801) (111,190) |
| |
| Maintenance payments received 576,282 367,146 |
| |
| Maintenance payments returned (415,698) (162,824) |
| |
| Security deposits received 146,586 48,052 |
| |
| Security deposits returned (108,124) (62,448) |
| |
| Repurchase of shares and tax withholdings on |
| share-based compensation (792,473) - |
| ------------- --------------- |
| Net cash (used in) provided by financing |
| activities (1,332,683) 969,304 |
| |
| |
| |
| Net (decrease) increase in cash and cash |
| equivalents (186,693) 1,451,781 |
| |
| Effect of exchange rate changes on cash and |
| cash equivalents (2,184) (3,001) |
| |
| Cash and cash equivalents at beginning of |
| period 1,490,369 295,514 |
| ------------- --------------- |
| Cash and cash equivalents at end of period $1,301,492 $1,744,294 |
| ------------- --------------- |
| |
+------------------------------------------------------------------------------+
For Investors:
Keith Helming
Chief Financial Officer
+31 20 655 9670
khelming(at)aercap.com
For Investors/Media:
John Wikoff
Investor Relations
+31 63 169 9430
jwikoff(at)aercap.com
AerCap 2015 Third Quarter Earnings:
http://hugin.info/149317/R/1965665/717732.pdf
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Source: AerCap Holdings N.V. via GlobeNewswire
[HUG#1965665]
Unternehmensinformation / Kurzprofil:
Datum: 10.11.2015 - 13:38 Uhr
Sprache: Deutsch
News-ID 433437
Anzahl Zeichen: 57358
contact information:
Town:
Schiphol
Kategorie:
Business News
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Die Pressemitteilung mit dem Titel:
"AerCap Holdings N.V. Reports Financial Results for Third Quarter 2015"
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AerCap Holdings N.V. (Nachricht senden)
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