AerCap N.V.(US:AER)2025-04-30 15:21Financial Performance - Total revenues and other income for the three months ended March 31, 2025, were $2,077,032,000, an increase of $58,944,000 compared to $2,018,088,000 for the same period in 2024[156] - Net income attributable to AerCap Holdings N.V. for the three months ended March 31, 2025, was $642,860,000, an increase of $38,646,000 compared to $604,214,000 for the same period in 2024[156] - Total revenues for the three months ended March 31, 2025, were $891 million, with net income attributable to AerCap Holdings N.V. at $427 million[194] Asset Management - The company executed 203 aviation asset transactions during the three months ended March 31, 2025[149] - The owned aircraft utilization rate was 99% for the three months ended March 31, 2025, with 1,510 of the 1,526 owned aircraft on lease[153] - The company owned 1,526 aircraft and managed 177 aircraft as of March 31, 2025, with commitments to purchase 283 new aircraft scheduled for delivery through 2030[153] Debt and Financing - The average cost of debt increased to 4.1% for the three months ended March 31, 2025, compared to 3.9% for the same period in 2024[162] - The average cost of debt for the company was 4.1% as of March 31, 2025, with an adjusted debt to equity ratio of 2.4 to 1[173] - Interest expense for the three months ended March 31, 2025, was $503 million, a 2% increase from $492 million in 2024[186] - Average debt balance decreased by 1% to $46,160 million in Q1 2025 from $46,536 million in Q1 2024[186] - The company co-issued $750 million in junior subordinated notes due 2055 and $500 million due 2056 in 2024 and 2025, respectively[187] Cash Flow and Liquidity - For the three months ended March 31, 2025, net cash provided by operating activities was $1.335 billion, a decrease from $1.376 billion in the same period of 2024[167] - Net cash used in investing activities increased to $2.005 billion in Q1 2025 from $842 million in Q1 2024, primarily due to higher cash used for the purchase of flight equipment[168] - Net cash provided by financing activities was $535 million in Q1 2025, compared to a net cash used of $873 million in Q1 2024, reflecting new financing proceeds[169] - As of March 31, 2025, total available liquidity was $15 billion, which includes $10.9 billion of undrawn lines of credit and $1.3 billion in cash[171] Expenses and Obligations - Total expenses decreased by $13,151,000, resulting in a total of $1,359,681,000 for the three months ended March 31, 2025[156] - Total contractual obligations as of March 31, 2025, amounted to $74.012 billion, including principal and interest payments on debt and purchase obligations[175] Tax and Other Financial Metrics - The effective tax rate for the three months ended March 31, 2025, was 15.5%, compared to 14.3% for the same period in 2024[164] - Book value per ordinary share outstanding, excluding shares of unvested restricted stock, was $97.37 as of March 31, 2025, up from $94.57 at the end of 2024[181] Currency and Risk Management - Foreign currency transaction gains and losses are not significant, as the company primarily operates in U.S. dollars[202] - Interest rate risk management includes the use of interest rate swaps and caps to mitigate exposure from variable interest rates[195]