AerCap Holdings N.V. Files 20-F Annual Report for Fiscal Year 2023

TL;DR

<b>AerCap Holdings N.V. has submitted its 20-F annual report detailing its 2023 fiscal year operations in equipment leasing.</b>

AI Summary

AerCap Holdings N.V. (AER) filed a Foreign Annual Report (20-F) with the SEC on February 23, 2024. AerCap Holdings N.V. filed its 20-F annual report for the fiscal year ending December 31, 2023. The filing covers the period from January 1, 2023, to December 31, 2023. The company's primary business is equipment rental and leasing, classified under SIC code 7359. AerCap Holdings N.V. is incorporated in P7 and its fiscal year ends on December 31. The filing was submitted on February 23, 2024, under the 1934 Act with SEC file number 001-33159.

Why It Matters

For investors and stakeholders tracking AerCap Holdings N.V., this filing contains several important signals. This 20-F filing provides a comprehensive overview of AerCap's financial performance, operational activities, and risk factors for the fiscal year 2023, crucial for investors and stakeholders to assess the company's health and strategic direction. As a major player in aircraft leasing, the details within this report are vital for understanding market trends, regulatory compliance, and the company's position within the global aviation industry.

Risk Assessment

Risk Level: low — AerCap Holdings N.V. shows low risk based on this filing. The risk is low as this is a standard annual filing providing historical financial and operational data, not indicating immediate new risks or significant negative changes.

Analyst Insight

Review the detailed financial statements and risk factors within the 20-F filing to understand AerCap's performance and outlook for the upcoming fiscal year.

Key Numbers

• 2023-12-31 — Fiscal Year End (Conformed Period of Report)
• 2024-02-23 — Filing Date (As of Date)
• 2023 — Fiscal Year (Filing Year)

Key Players & Entities

• AerCap Holdings N.V. (company) — Filer name
• 0001378789 (company) — Central Index Key
• 7359 (company) — Standard Industrial Classification code
• 001-33159 (company) — SEC File Number
• 24667906 (company) — Film Number
• Dublin (company) — Business Address City

FAQ

Industry Context

AerCap Holdings N.V. operates in the equipment rental and leasing industry, specifically focusing on aviation assets. This sector is capital-intensive and subject to global economic conditions and airline industry performance.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring foreign private issuers like AerCap to provide annual reports on Form 20-F, which includes financial statements and disclosures equivalent to those required by U.S. domestic issuers.

What Investors Should Do

1. Analyze the financial statements within the 20-F for revenue, net income, and balance sheet changes.
2. Review the Management's Discussion and Analysis (MD&A) section for insights into operational performance and strategic priorities.
3. Examine the risk factors section for any new or evolving risks impacting the company's business.

Key Dates

• 2024-02-23: Filing of 20-F Annual Report — Official submission of the company's annual financial and operational data for the fiscal year 2023.

Year-Over-Year Comparison

This is the initial filing for the fiscal year 2023, following the previous 20-F filing for the fiscal year 2022.

Key Financial Figures

• $750 million — ap, with a global turnover in excess of $750 million. We may become subject to additional ta
• $11.0 billion — l debt. As of December 31, 2023, we had $11.0 billion of undrawn lines of credit available un
• $213 m — sts, debt discounts and debt premium of $213 million, was $46.7 billion as of December
• $46.7 billion — s and debt premium of $213 million, was $46.7 billion as of December 31, 2023 (66% of our tot
• $1.7 billion — ments, net of amounts capitalized, were $1.7 billion for the year ended December 31, 2023. D
• $10.3 b — our outstanding floating rate debt was $10.3 billion, or 22% of the total principal am

Filing Documents

• aer-20231231.htm (20-F) — 3343KB
• aercap202320-fxex81.htm (EX-8.1) — 300KB
• aercap202320-fxex101.htm (EX-10.1) — 26KB
• aercap202320-fxex121.htm (EX-12.1) — 8KB
• aercap202320-fxex122.htm (EX-12.2) — 8KB
• aercap202320-fxex131.htm (EX-13.1) — 6KB
• aercap202320-fxex151.htm (EX-15.1) — 3KB
• aercap202320-fxex171.htm (EX-17.1) — 11KB
• 0001378789-24-000010.txt (&nbsp;) — 16753KB
• aer-20231231.xsd (EX-101.SCH) — 145KB
• aer-20231231_cal.xml (EX-101.CAL) — 159KB
• aer-20231231_def.xml (EX-101.DEF) — 675KB
• aer-20231231_lab.xml (EX-101.LAB) — 1276KB
• aer-20231231_pre.xml (EX-101.PRE) — 943KB
• aer-20231231_htm.xml (XML) — 2573KB

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 92 Item 12.

Description of Securities Other than Equity Securities

Description of Securities Other than Equity Securities 93 Item 13. Defaults, Dividend Arrearages and Delinquencies 94 Item 14. Material Modifications to the Rights of Security Holders and Use of Proceeds 94 Item 15.

Controls and Procedures

Controls and Procedures 94 Item 16A. Audit Committee Financial Expert 94 Item 16B. Code of Ethics 95 Item 16C. Principal Accountant Fees and Services 95 Item 16D. Exemptions from the Listing Standards for Audit Committees 95 Item 16E. Purchases of Equity Securities by the Issuer and Affiliated Purchasers 95 Item 16F. Change in Registrant's Certifying Accountant 95 Item 16G. Corporate Governance 97 Item 16H. Mine Safety Disclosure 97 Item 16I . Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 97 Item 16K . Cybersecurity Risk Management and Governance 97 Item 17.

Financial Statements

Financial Statements 100 Item 18.

Financial Statements

Financial Statements 100 Item 19. Exhibits 100

Signatures

Signatures 105 Index to Consolidated Financial Statements F-1 1 SPECIAL NOTE ABOUT FORWARD LOOKING STATEMENTS This annual report includes "forward looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, principally under the captions "Item 3. Key Information—Risk Factors," "Item 4. Information on the Company" and "Item 5. Operating and Financial Review and Prospects." We have based these forward looking statements largely on our current beliefs and projections about future events and financial trends affecting our business. Many important factors, in addition to those discussed in this annual report, could cause our actual results to differ substantially from those anticipated in our forward looking statements, including, among other things: the availability of capital to us and to our customers and changes in interest rates; the ability of our lessees and potential lessees to make lease payments to us; our ability to successfully negotiate flight equipment (which includes aircraft, engines and helicopters) purchases, sales and leases, to collect outstanding amounts due and to repossess flight equipment under defaulted leases, and to control costs and expenses; changes in the overall demand for commercial aviation leasing and aviation asset management services; the continued impacts of the Ukraine Conflict, including the resulting sanctions by the United States, the European Union, the United Kingdom and other countries, on our business and results of operations, financial condition and cash flows; the effects of terrorist attacks on the aviation industry and on our operations; the economic condition of the global airline and cargo industry and economic and political conditions; the impact of current hostilities in the Middle East, or any escalation thereof, on the aviation industry or our business; development of increased government regulation, including travel restrictions, sanctions, regulation of trade a

Identity of Directors, Senior Management and Advisers

Item 1. Identity of Directors, Senior Management and Advisers Not applicable.

Offer Statistics and Expected Timetable

Item 2. Offer Statistics and Expected Timetable Not applicable. 3

Key Information

Item 3. Key Information

RISK FACTORS

RISK FACTORS Summary Risk Factors Risks relating to our funding, liquidity and financial structure We require significant capital resources and cash flows to fund our business and service our debt, and changes in the availability of capital, our ability to raise funding or in the interest rates we pay on our debt may affect our operations or financial results. We have a substantial level of indebtedness and we might incur significantly more debt, which could adversely impact our operating flexibility and subject us to covenants that impose restrictions that may affect our ability to operate our business. Risks related to the geopolitical, regulatory, corporate responsibility and legal exposure of our business We are exposed to geopolitical, economic and legal risks associated with the international operations of our business and those of our lessees, including many of the economic and political risks associated with emerging markets. We are exposed to concentrated political and economic risks in certain geographical regions in which our lessees are concentrated, particularly China. Our assets are subject to various environmental regulations and concerns, including those relating to climate change, that may be supplemented by additional regulations and requirements or become more stringent, which may negatively affect our operations. In addition, corporate responsibility, specifically related to environmental, social and governance ("ESG") matters, may impose additional costs and expose us to new risks. Our insurance policies may not adequately cover our risks, the costs of our insurance policies may increase and/or our insurance coverage may be reduced, and we may not be able to recover under insurance policies in a timely manner or at all should we suffer loss. Risks related to disease, natural disasters, terrorist attacks and other world events Global or regional public health developments, extreme weather or natural disasters or other force majeure even

View Full Filing

View this 20-F filing on SEC EDGAR