Aircastle (AYR) 10-Q 4 Aug 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2016	Jul. 29, 2016
Document And Entity Information [Abstract]
Entity Registrant Name	Aircastle LTD
Entity Central Index Key	1,362,988
Document Type	10-Q
Document Period End Date	Jun. 30, 2016
Amendment Flag	false
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		78,634,132

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
ASSETS
Cash and cash equivalents	$ 493,233	$ 155,904
Accounts receivable	4,500	8,566
Restricted cash and cash equivalents	51,418	98,137
Restricted liquidity facility collateral	0	65,000
Flight equipment held for lease, net of accumulated depreciation of $1,207,844 and $1,306,024, respectively	5,875,935	5,867,062
Net investment in finance and sales-type leases	291,903	201,211
Unconsolidated equity method investment	64,357	50,377
Other assets	164,529	123,707
Total assets	6,945,875	6,569,964
LIABILITIES
Borrowings from secured financings, net of debt issuance costs	1,078,823	1,146,238
Borrowings from unsecured financings, net of debt issuance costs	3,283,971	2,894,918
Accounts payable, accrued expenses and other liabilities	135,363	131,058
Lease rentals received in advance	57,178	67,327
Liquidity facility	0	65,000
Security deposits	123,533	115,642
Maintenance payments	490,521	370,281
Total liabilities	5,169,389	4,790,464
Commitments and Contingencies
SHAREHOLDERS’ EQUITY
Common shares, $0.01 par value, 250,000,000 shares authorized, 78,777,771 shares issued and outstanding at June 30, 2016; and 80,232,260 shares issued and outstanding at December 31, 2015	788	802
Additional paid-in capital	1,520,507	1,550,337
Retained earnings	260,036	241,574
Accumulated other comprehensive loss	(4,845)	(13,213)
Total shareholders’ equity	1,776,486	1,779,500
Total liabilities and shareholders’ equity	$ 6,945,875	$ 6,569,964

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Accumulated depreciation on flight equipment held for lease	$ 1,207,844	$ 1,306,024
Borrowings from secured financings	$ 1,078,823	$ 1,146,238
Common shares, par value	$ 0.01	$ 0.01
Common shares, shares authorized	250,000,000	250,000,000
Common shares, shares issued	78,777,771	80,232,260
Common shares, shares outstanding	78,777,771	80,232,260
Preference shares, par value	$ 0.01	$ 0.01
Preference shares, shares authorized	50,000,000	50,000,000

Consolidated Statements of Inco

Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Revenues:
Lease rental revenue	$ 176,125	$ 184,839	$ 355,695	$ 361,985
Finance and sales-type lease revenue	4,174	1,877	7,672	3,484
Amortization of net lease discounts and lease incentives	(3,828)	(4,351)	(4,898)	(8,175)
Maintenance revenue	12,514	21,349	13,774	39,422
Total lease revenue	188,985	203,714	372,243	396,716
Other revenue	1,003	851	1,410	2,145
Total revenues	189,988	204,565	373,653	398,861
Operating expenses:
Depreciation	75,070	77,368	151,717	152,214
Interest, net	62,452	61,551	126,693	123,682
Selling, general and administrative (including non-cash share based payment expense of $2,094 and $1,387 for the three months ended and $3,737 and $2,557 for the six months ended June 30, 2016 and 2015, respectively)	15,406	14,699	30,898	28,631
Asset Impairment Charges	16,723	23,955	16,723	23,955
Maintenance and other costs	2,267	3,663	3,670	6,606
Total expenses	171,918	181,236	329,701	335,088
Other income:
Gain on sale of flight equipment	2,172	21,102	15,005	27,355
Other	147	277	74	271
Total other income	2,319	21,379	15,079	27,626
Income from continuing operations before income taxes and earnings of unconsolidated equity method investment	20,389	44,708	59,031	91,399
Income tax provision	2,385	4,465	6,324	9,328
Earnings of unconsolidated equity method investment, net of tax	2,026	1,565	3,585	3,006
Net income	$ 20,030	$ 41,808	$ 56,292	$ 85,077
Earnings per common share — Basic:
Net income (loss) per share (in dollars per share)	$ 0.25	$ 0.51	$ 0.71	$ 1.05
Earnings per common share — Diluted:
Net income per share	0.25	0.51	0.71	1.05
Dividends declared per share	$ 0.24	$ 0.22	$ 0.48	$ 0.44

Consolidated Statements of Inc5

Consolidated Statements of Income (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Income Statement [Abstract]
Maintenance Revenue	$ 12,514	$ 21,349	$ 13,774	$ 39,422
Non-cash share based payment expense	$ 2,094	$ 1,387	$ 3,737	$ 2,557

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Statement of Comprehensive Income [Abstract]
Net income	$ 20,030	$ 41,808	$ 56,292	$ 85,077
Other comprehensive income, net of tax:
Net change in fair value of derivatives, net of tax expense of $0 and $26 for the three months ended and tax expense of $0 and $23 for the six months ended June 30, 2016 and 2015, respectively	0	564	(1)	436
Net derivative loss reclassified into earnings	2,997	6,110	8,369	14,343
Other comprehensive income	2,997	6,674	8,368	14,779
Total comprehensive income	$ 23,027	$ 48,482	$ 64,660	$ 99,856

Consolidated Statements of Com7

Consolidated Statements of Comprehensive Income (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Statement of Comprehensive Income [Abstract]
Net of tax expense	$ 0	$ 26	$ 0	$ 23

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Statement of Cash Flows [Abstract]
Net income	$ 56,292	$ 85,077
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	151,717	152,214
Amortization of deferred financing costs	9,470	7,465
Amortization of net lease discounts and lease incentives	4,898	8,175
Deferred income taxes	2,243	(1,363)
Non-cash share based payment expense	3,737	2,557
Cash flow hedges reclassified into earnings	8,369	14,343
Security deposits and maintenance payments included in earnings	(5,651)	(22,382)
Gain on sale of flight equipment	(15,005)	(27,355)
Asset Impairment Charges	16,723	23,955
Other	(2,843)	108
Changes in certain assets and liabilities:
Accounts receivable	3,262	(1,697)
Other assets	(85)	(2,155)
Accounts payable, accrued expenses and other liabilities	4,284	7,018
Lease rentals received in advance	(2,714)	3,646
Net cash provided by operating activities	234,697	249,606
Cash flows from investing activities:
Acquisition and improvement of flight equipment	(478,026)	(797,136)
Proceeds from sale of flight equipment	339,507	231,842
Increase (Decrease) in Restricted Cash	17,000	(76,433)
Payments for (Proceeds from) Other Deposits	9,801	3,461
Payments to Acquire Finance Receivables	78,365	24,000
Collections on finance and sales-type leases	7,833	4,795
Payments to Acquire Interest in Subsidiaries and Affiliates	(11,688)	0
Other	(509)	(256)
Net cash used in investing activities	(214,049)	(664,649)
Cash flows from financing activities:
Repurchase of shares	33,854	1,960
Proceeds from secured and unsecured debt financings	787,310	800,000
Repayments of secured and unsecured debt financings	(459,021)	(319,994)
Deferred financing costs	(16,121)	(11,658)
Restricted Secured Liquidity Facility Collateral, Financing Activities	65,000	0
Secured Liquidity Facility Collateral, Financing Activities	65,000	0
Restricted cash and cash equivalents related to financing activities	(29,719)	(13,463)
Security deposits and maintenance payments received	72,572	71,536
Security deposits and maintenance payments returned	26,094	27,336
Dividends paid	(37,830)	(35,723)
Net cash provided by financing activities	316,681	488,328
Net increase in cash and cash equivalents	337,329	73,285
Cash and cash equivalents at beginning of period	155,904	169,656
Cash and cash equivalents at end of period	493,233	242,941
Supplemental disclosures of cash flow information:
Cash paid for interest	104,534	89,639
Cash paid for income taxes	2,809	3,918
Supplemental disclosures of non-cash investing activities:
Advance lease rentals, security deposits and maintenance payments assumed in asset acquisitions	105,801	7,841
Security Deposits Maintenance Liabilities And Other Liabilities Settled In Sale Of Flight Equipment	21,159	40,199
Property, Plant and Equipment, Transfers and Changes	$ 86,267	$ 18,851

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block]	Summary of Significant Accounting Policies Organization and Basis of Presentation Aircastle Limited (“Aircastle,” the “Company,” “we,” “us” or “our”) is a Bermuda exempted company that was incorporated on October 29, 2004 under the provisions of Section 14 of the Companies Act of 1981 of Bermuda. Aircastle’s business is investing in aviation assets, including acquiring, leasing, managing and selling high-utility commercial jet aircraft. Aircastle is a holding company that conducts its business through subsidiaries. Aircastle directly or indirectly owns all of the outstanding common shares of its subsidiaries. The consolidated financial statements presented are prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”). The company manages, analyzes and reports on its business and results of operations on the basis of one operating segment: leasing, financing, selling and managing commercial flight equipment. Our chief executive officer is the chief operating decision maker. The accompanying consolidated financial statements are unaudited and have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) for interim financial reporting and, in our opinion, reflect all adjustments, including normal recurring items, which are necessary to present fairly the results for interim periods. Operating results for the periods presented are not necessarily indicative of the results that may be expected for the entire year. Certain information and footnote disclosures normally included in consolidated financial statements prepared in accordance with U.S. GAAP have been omitted in accordance with the rules and regulations of the SEC; however, we believe that the disclosures are adequate to make information presented not misleading. These financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015 . The Company’s management has reviewed and evaluated all events or transactions for potential recognition and/or disclosure since the balance sheet date of June 30, 2016 through the date on which the consolidated financial statements included in this Form 10-Q were issued. Effective January 1, 2016, the Company adopted Financial Accounting Standards Board (“FASB”) Accounting Standards Update (“ASU”) 2015-02, Consolidation - Amendments to the Consolidation Analysis (Topic 810). The update amended the guidelines for determining whether certain legal entities should be consolidated and reduced the number of consolidation models. This new standard affected reporting entities that are required to evaluate whether they should consolidate certain legal entities. The standard did not have a material impact on our consolidated financial statements and related disclosures. Principles of Consolidation The consolidated financial statements include the accounts of Aircastle and all of its subsidiaries. Aircastle consolidates five Variable Interest Entities (“VIEs”) of which Aircastle is the primary beneficiary. All intercompany transactions and balances have been eliminated in consolidation. We consolidate VIEs in which we have determined that we are the primary beneficiary. We use judgment when deciding: (a) whether an entity is subject to consolidation as a VIE; (b) who the variable interest holders are; (c) the potential expected losses and residual returns of the variable interest holders; and (d) which variable interest holder is the primary beneficiary. When determining which enterprise is the primary beneficiary, we consider: (1) the entity’s purpose and design; (2) which variable interest holder has the power to direct the activities that most significantly impact the entity’s economic performance; and (3) the obligation to absorb losses of the entity or the right to receive benefits from the entity that could potentially be significant to the VIE. When certain events occur, we reconsider whether we are the primary beneficiary of VIEs. We do not reconsider whether we are a primary beneficiary solely because of operating losses incurred by an entity. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. While Aircastle believes that the estimates and related assumptions used in the preparation of the consolidated financial statements are appropriate, actual results could differ from those estimates. Recent Accounting Pronouncements On February 25, 2016, the FASB issued Accounting Standards Codification (“ASC”) 842 (“ASC 842”), “ Leases ,” which replaced the existing guidance in ASC 840, Leases . The accounting for leases by lessors basically remained unchanged from the concepts that existed in ASC 840 accounting. The FASB decided that lessors would be precluded from recognizing selling profit and revenue at lease commencement for any sales-type or direct finance lease that does not transfer control of the underlying asset to the lessee. This requirement aligns the notion of what constitutes a sale in the lessor accounting guidance with that in the forthcoming revenue recognition standard, which evaluates whether a sale has occurred from the customer’s perspective. The standard will be effective for public entities beginning after December 15, 2018. The standard is applied on a “modified retrospective” basis. We are evaluating the impact that ASC 842 will have on our consolidated financial statements and related disclosures. We do not believe that the adoption of the standard will significantly impact our existing or potential lessees' economic decisions to lease aircraft. On May 28, 2014, the FASB and the International Accounting Standards Board (the “IASB”) (collectively, “the Boards”), jointly issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606). Lease contracts within the scope of ASC 840, Leases , are specifically excluded from ASU No. 2014-09. The standard’s core principle is that a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which a company expects to be entitled in exchange for those goods or services. The standard is effective for public entities beginning after December 15, 2017. The standard allows for either “full retrospective” adoption, meaning the standard is applied to all of the periods presented, or “modified retrospective” adoption, meaning the standard is applied only to the most current period presented in the financial statements. We are evaluating the impact of the ASU on our consolidated financial statements and related disclosures. On August 27, 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements - Going Concern (Subtopic 205-40). The standard requires management of public companies to evaluate whether there is substantial doubt about the entity’s ability to continue as a going concern and, if so, disclose that fact. Management should evaluate whether there are conditions or events, considered in the aggregate, that raises substantial doubt about the entity’s ability to continue as a going concern within one year after the date that the financial statements are issued (or available to be issued, when applicable). The standard is effective for annual periods ending after December 15, 2016 and interim periods thereafter, and early adoption is permitted. We do not believe the standard will have a material impact on our consolidated financial statements and related disclosures when adopted. In March 2016, the FASB issued ASU No. 2016-09, Compensation - Stock Compensation (Topic 718). The update amends the guidelines for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The standard is effective for annual and interim periods beginning January 1, 2017, and early adoption is permitted. We are evaluating the impact of the ASU on our consolidated financial statements and related disclosures.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Fair value measurements and disclosures require the use of valuation techniques to measure fair value that maximize the use of observable inputs and minimize use of unobservable inputs. These inputs are prioritized as follows: • Level 1: Observable inputs such as quoted prices in active markets for identical assets or liabilities. • Level 2: Inputs other than quoted prices included within Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities or market corroborated inputs. • Level 3: Unobservable inputs for which there is little or no market data and which require us to develop our own assumptions about how market participants price the asset or liability. The valuation techniques that may be used to measure fair value are as follows: • The market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities. • The income approach uses valuation techniques to convert future amounts to a single present amount based on current market expectation about those future amounts. • The cost approach is based on the amount that currently would be required to replace the service capacity of an asset (replacement cost). The following tables set forth our financial assets and liabilities as of June 30, 2016 and December 31, 2015 that we measured at fair value on a recurring basis by level within the fair value hierarchy. Assets and liabilities measured at fair value are classified in their entirety based on the lowest level of input that is significant to their fair value measurement. Fair Value Measurements at June 30, 2016 Using Fair Value Hierarchy Fair Value as of June 30, 2016 Quoted Prices In Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Valuation Technique Assets: Cash and cash equivalents $ 493,233 $ 493,233 $ — $ — Market Restricted cash and cash equivalents 51,418 51,418 — — Market Total $ 544,651 $ 544,651 $ — $ — Liabilities: Derivative liabilities $ — $ — $ — $ — Income Fair Value Measurements at December 31, 2015 Using Fair Value Hierarchy Fair Value as of December 31, 2015 Quoted Prices In Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Valuation Technique Assets: Cash and cash equivalents $ 155,904 $ 155,904 $ — $ — Market Restricted cash and cash equivalents 98,137 98,137 — — Market Total $ 254,041 $ 254,041 $ — $ — Liabilities: Derivative liabilities $ 1,283 $ — $ 1,283 $ — Income Our cash and cash equivalents, along with our restricted cash and cash equivalents balances, consist largely of money market securities that are considered to be highly liquid and easily tradable. These securities are valued using inputs observable in active markets for identical securities and are therefore classified as Level 1 within our fair value hierarchy. Our interest rate derivatives included in Level 2 consist of United States dollar-denominated interest rate derivatives, and their fair values are determined by applying standard modeling techniques under the income approach to relevant market interest rates (cash rates, futures rates, swap rates) in effect at the period close to determine appropriate reset and discount rates and incorporates an assessment of the risk of non-performance by the interest rate derivative counterparty in valuing derivative assets and an evaluation of the Company’s credit risk in valuing derivative liabilities. For the three and six months ended June 30, 2016 and the year ended December 31, 2015 , we had no transfers into or out of Level 3. We measure the fair value of certain assets and liabilities on a non-recurring basis, when U.S. GAAP requires the application of fair value, including events or changes in circumstances that indicate that the carrying amounts of assets may not be recoverable. Assets subject to these measurements include our investment in an unconsolidated joint venture and aircraft. We account for our investment in an unconsolidated joint venture under the equity method of accounting and record impairment when its fair value is less than its carrying value. We record aircraft at fair value when we determine the carrying value may not be recoverable. Fair value measurements for aircraft in impairment tests are based on an income approach which uses Level 3 inputs, which include the Company’s assumptions and appraisal data as to future cash proceeds from leasing and selling aircraft. Aircraft Valuation Recoverability Assessment We completed our annual recoverability assessment of wide-body and freighter aircraft in the second quarter this year given weaker market dynamics for these aircraft. We intend to complete the recoverability assessment for our narrow-body aircraft fleet during the third quarter. We also performed aircraft-specific analyses where there were changes in circumstances, such as approaching lease expirations. The recoverability assessment is a comparison of the carrying value of each aircraft to its undiscounted expected future cash flows. We develop the assumptions used in the recoverability assessment, including those relating to current and future demand for each aircraft type, based on management’s experience in the aircraft leasing industry, as well as information received from third-party sources. Estimates of the undiscounted cash flows for each aircraft type are impacted by changes in contracted and future expected lease rates, residual values, expected scrap values, economic conditions and other factors. In our 2016 assessment, we reduced forecasted cash flows for older Airbus A330 aircraft to reflect lower rental expectations given weak demand and increased competition from newer units. As a result, during the three months ended June 30, 2016, we recorded impairment charges totaling $11,670 and maintenance revenue of $4,000 relating to one sixteen year old Airbus A330-200 approaching lease expiry. Other Impairments During the six months ended June 30, 2016 , we entered into an agreement to sell two older Boeing 747-400 freighter aircraft to the lessee resulting in an impairment of $5,053 . These two aircraft are held for sale at June 30, 2016 in other assets. These aircraft were sold in July 2016. During the six months ended June 30, 2015, we impaired two McDonnell Douglas MD-11 freighter aircraft and one Boeing 737-800 aircraft and recorded impairment charges totaling $23,955 and maintenance revenue of $18,234 . Other than the aircraft discussed above, management believes that the net book value of each of our wide-body and freighter aircraft is currently supported by the estimated future undiscounted cash flows expected to be generated by that aircraft, and accordingly, no other aircraft were impaired as a consequence of this recoverability assessment. However, if our estimates or assumptions change, we may revise our cash flow assumptions and record future impairment charges. While we believe that the estimates and related assumptions used in the recoverability assessment are appropriate, actual results could differ from those estimates. Financial Instruments Our financial instruments, other than cash, consist principally of cash equivalents, restricted cash and cash equivalents, accounts receivable, accounts payable, amounts borrowed under financings and interest rate derivatives. The fair value of cash, cash equivalents, restricted cash and cash equivalents, accounts receivable and accounts payable approximates the carrying value of these financial instruments because of their short-term nature. The fair values of our ECA Financings (as described in Note 6 - Variable Interest Entities below) and Bank Financings are estimated using a discounted cash flow analysis, based on our current incremental borrowing rates for similar types of borrowing arrangements. The fair value of our Senior Notes is estimated using quoted market prices. The carrying amounts and fair values of our financial instruments at June 30, 2016 and December 31, 2015 are as follows: June 30, 2016 December 31, 2015 Carrying Amount of Liability Fair Value of Liability Carrying Amount of Liability Fair Value of Liability Securitizations $ — $ — $ 125,366 $ 123,696 Credit Facilities 120,000 120,000 225,000 225,000 ECA Financings 326,004 347,409 404,491 422,640 Bank Financings 774,903 794,875 636,970 653,699 Senior Notes 3,200,000 3,360,390 2,700,000 2,832,125 All of our financial instruments are classified as Level 2 with the exception of our Senior Notes, which are classified as Level 1.

Lease Rental Revenues and Fligh

Lease Rental Revenues and Flight Equipment Held for Lease	6 Months Ended
	Jun. 30, 2016
Leases [Abstract]
Operating Leases of Lessor Disclosure [Text Block]	Lease Rental Revenues and Flight Equipment Held for Lease Minimum future annual lease rentals contracted to be received under our existing operating leases of flight equipment at June 30, 2016 were as follows: Year Ending December 31, Amount Remainder of 2016 $ 360,019 2017 647,844 2018 573,162 2019 499,783 2020 413,445 Thereafter 1,153,821 Total $ 3,648,074 Geographic concentration of lease rental revenue earned from flight equipment held for lease was as follows: Three Months Ended June 30, Six Months Ended June 30, Region 2016 2015 2016 2015 Asia and Pacific 39 % 42 % 40 % 42 % Europe 24 % 28 % 25 % 29 % South America 19 % 15 % 19 % 14 % Middle East and Africa 12 % 9 % 11 % 9 % North America 6 % 6 % 5 % 6 % Total 100 % 100 % 100 % 100 % The classification of regions in the tables above and in the table and discussion below is determined based on the principal location of the lessee of each aircraft. The following table shows the number of lessees with lease rental revenue of at least 5% and their combined total percentage of lease rental revenue for the years indicated: Three Months Ended June 30, 2016 Three Months Ended June 30, 2015 Six Months Ended June 30, 2016 Six Months Ended June 30, 2015 Number of Lessees Combined % of Lease Rental Revenue Number of Lessees Combined % of Lease Rental Revenue Number of Lessees Combined % of Lease Rental Revenue Number of Lessees Combined % of Lease Largest lessees by lease rental revenue 4 25% 3 17% 4 25% 3 18% The following table sets forth revenue attributable to individual countries representing at least 10% of total revenue (including maintenance revenue) in any year based on each lessee’s principal place of business for the years indicated: Three Months Ended June 30, 2016 Three Months Ended June 30, 2015 Six Months Ended June 30, 2016 Six Months Ended June 30, 2015 Country Revenue % of Total Revenue Revenue % of Total Revenue Revenue % of Total Revenue Revenue % of Total Revenue Indonesia (1) $ 19,906 11% $ — —% $ 39,450 11% $ — —% _______________ (1) Total revenue attributable to Indonesia was less than 10% for the three and six months ended June 30, 2015. Geographic concentration of net book value of flight equipment (includes net book value of flight equipment held for lease and net investment in finance leases) was as follows: June 30, 2016 December 31, 2015 Region Number of Aircraft Net Book Value % Number of Aircraft Net Book Value % Asia and Pacific 49 37 % 49 39 % Europe 59 24 % 64 26 % South America 22 18 % 22 19 % Middle East and Africa 13 11 % 9 10 % North America 23 8 % 17 6 % Off-lease 3 (1) 2 % 1 (2) — % Total 169 100 % 162 100 % _______________ (1) Consists of two Boeing 737-800 aircraft, for which we have signed lease agreements with customers in Asia, and one Airbus A330-200 aircraft, for which we have a signed lease agreement with a customer in South America. (2) Consisted of one Boeing 777-200ER aircraft that was sold during the second quarter of 2016. The following table sets forth net book value of flight equipment (includes net book value of flight equipment held for lease and net investment in finance leases) attributable to individual countries representing at least 10% of net book value of flight equipment based on each lessee’s principal place of business as of: June 30, 2016 December 31, 2015 Region Net Book Value Net Book Value % Number of Lessees Net Book Value Net Book Value % Number of Lessees Indonesia $ 647,022 11% 3 $ 661,178 11% 3 At June 30, 2016 and December 31, 2015 , the amounts of lease incentive liabilities recorded in maintenance payments on our Consolidated Balance Sheets were $18,045 and $21,432 , respectively.

Net Investment in Finance Lease

Net Investment in Finance Leases	6 Months Ended
	Jun. 30, 2016
Leases [Abstract]
Net Investment in Finance Leases	Net Investment in Finance and Sales-Type Leases At June 30, 2016 , our net investment in finance and sales-type leases represents fourteen aircraft: eight aircraft leased to two customers in the United States, two aircraft leased to a customer in the Netherlands, three aircraft leased to two customers in Germany and one aircraft leased to a customer in Spain. The following table lists the components of our net investment in finance and sales-type leases at June 30, 2016 : Amount Total lease payments to be received $ 229,766 Less: Unearned income (97,315 ) Estimated residual values of leased flight equipment (unguaranteed) 159,452 Net investment in finance and sales-type leases $ 291,903 At June 30, 2016 , minimum future lease payments on finance and sales-type leases are as follows: Year Ending December 31, Amount Remainder of 2016 $ 21,774 2017 39,718 2018 32,189 2019 32,018 2020 30,938 Thereafter 73,129 Total lease payments to be received $ 229,766

Unconsolidated Equity Method In

Unconsolidated Equity Method Investment (Notes)	6 Months Ended
	Jun. 30, 2016
Equity Method Investments and Joint Ventures [Abstract]
Unconsolidated Equity Method Investment	Unconsolidated Equity Method Investment On December 19, 2013, the Company and an affiliate of Ontario Teachers’ Pension Plan (“Teachers’”) formed a joint venture (“Lancaster”), in which we hold a 30% equity interest, to invest in leased aircraft. Teachers’ holds 10.0% of our outstanding common shares. In March 2016, we sold four Airbus A320-200 aircraft for approximately $100,000 to Lancaster; these transactions were approved by our Audit Committee as arm’s length related party transactions under our related party policy. The assets and liabilities of Lancaster are off our Consolidated Balance Sheet and we record our net investment under the equity method of accounting. On February 23, 2016, through the Company’s relationship with Marubeni Corporation, we established a new joint venture (“IBJ Air”) with the leasing arm of the Industrial Bank of Japan, Limited (“IBJL”). This new venture is targeted at new narrow-body aircraft leased to premier airlines providing Aircastle with increased access to this market sector and to these customers. In June 2016, we sold one Airbus A320-200 aircraft to IBJ Air, in which we hold a 25% equity interest. We source and service investments for Lancaster and IBJ Air and provide marketing, asset management and administrative services to them. We are paid market-based fees for those services, which are recorded in Other revenue in our Consolidated Statements of Income. The Company has recorded in its Consolidated Balance Sheet a $7,705 guarantee liability in Maintenance payments and a $5,100 guarantee liability in Security deposits representing its share of the respective exposures. At June 30, 2016 , the net book value of our joint ventures’ ten aircraft was approximately $612 million. Amount Investment in joint ventures at December 31, 2015 $ 50,377 Investment in joint ventures 12,424 Earnings from joint ventures, net of tax 3,585 Distributions (2,029 ) Investment in joint ventures at June 30, 2016 $ 64,357

Variable Interest Entities

Variable Interest Entities	6 Months Ended
	Jun. 30, 2016
Variable Interest Entities [Abstract]
Variable Interest Entities	Variable Interest Entities Aircastle consolidates five VIEs of which it is the primary beneficiary. The operating activities of these VIEs are limited to acquiring, owning, leasing, maintaining, operating and, under certain circumstances, selling the seven aircraft discussed below. Securitization No. 2 In May 2016, we repaid the outstanding amount plus accrued interest and fees due under Securitization No. 2, and ACS Aircraft Finance Ireland 2 Limited became a wholly owned subsidiary of Aircastle. ECA Financings Aircastle, through various subsidiaries, each of which is owned by a charitable trust (such entities, collectively the “Air Knight VIEs”), has entered into seven different twelve -year term loans, which are supported by guarantees from Compagnie Française d'Assurance pour le Commerce Extérieur, (“COFACE”), the French government sponsored export credit agency (“ECA”). We refer to these COFACE-supported financings as “ECA Financings.” Aircastle is the primary beneficiary of the Air Knight VIEs, as we have the power to direct the activities of the VIEs that most significantly impact the economic performance of such VIEs and we bear the significant risk of loss and participate in gains through a finance lease. The activity that most significantly impacts the economic performance is the leasing of aircraft of which our wholly owned subsidiary is the servicer and is responsible for managing the relevant aircraft. There is a cross collateralization guarantee between the Air Knight VIEs. In addition, Aircastle guarantees the debt of the Air Knight VIEs. The only assets that the Air Knight VIEs have on their books are financing leases that are eliminated in the consolidated financial statements. The related aircraft, with a net book value as of June 30, 2016 of $526,343 , were included in our flight equipment held for lease. The consolidated debt outstanding, net of debt issuance costs, of the Air Knight VIEs as of June 30, 2016 is $315,731 .

Secured and Unsecured Debt Fina

Secured and Unsecured Debt Financings	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Secured and Unsecured Debt Financings	Secured and Unsecured Debt Financings The outstanding amounts of our secured and unsecured term debt financings are as follows: At June 30, 2016 At December 31, 2015 Debt Obligation Outstanding Borrowings Number of Aircraft Interest Rate (1) Final Stated Maturity Outstanding Secured Debt Financings: Securitization No. 2 $ — — —% — $ 125,366 ECA Financings (2) 326,004 7 3.02% to 3.96% 12/3/21 to 11/30/24 404,491 Bank Financings (3) 774,903 20 1.44% to 5.09% 10/26/17 to 01/19/26 636,970 Less: Debt Issuance Costs (22,084 ) — (20,589 ) Total secured debt financings, net of debt issuance costs 1,078,823 27 1,146,238 Unsecured Debt Financings: Senior Notes due 2017 500,000 6.75% 04/15/17 500,000 Senior Notes due 2018 400,000 4.625% 12/05/18 400,000 Senior Notes due 2019 500,000 6.250% 12/01/19 500,000 Senior Notes due 2020 300,000 7.625% 04/15/20 300,000 Senior Notes due 2021 500,000 5.125% 03/15/21 500,000 Senior Notes due 2022 500,000 5.50% 02/15/22 500,000 Senior Notes due 2023 500,000 5.00% 04/01/23 — DBJ Term Loan 120,000 2.653% 04/28/19 — Revolving Credit Facility — N/A 05/13/20 225,000 Less: Debt Issuance Costs (36,029 ) (30,082 ) Total unsecured debt financings, net of debt issuance costs 3,283,971 2,894,918 Total secured and unsecured debt financings, net of debt issuance costs $ 4,362,794 $ 4,041,156 (1) Reflects the floating rate in effect at the applicable reset date plus the margin for our DBJ Term Loan, six of our Bank Financings and our Revolving Credit Facility. All other financings have a fixed rate. (2) The borrowings under these financings at June 30, 2016 have a weighted-average rate of interest of 3.53% . (3) The borrowings under these financings at June 30, 2016 have a weighted-average fixed rate of interest of 3.21% . Secured Debt Financings: Securitization No. 2 On May 9, 2016, we prepaid the outstanding principal balance plus accrued interest and fees due under Securitization No. 2 and terminated the related interest rate derivatives for a total of $66,262 . Upon prepayment of Securitization No. 2, our liquidity facility commitment with HSH Nordbank AG ended and all drawn cash was returned. Bank Financings On June 17, 2016, we entered into a full recourse $400,450 floating rate financing with BNP Paribas, Credit Agricole Corporate and Investment Bank and certain other banks for seventeen aircraft initially, with the possibility of adding two incremental aircraft for an additional $67,550 . As of June 30, 2016, we have funded seven aircraft for $167,310 under this facility, which matures in June of 2023. Unsecured Debt Financings: DBJ Term Loan In March 2016, we entered into a $120,000 floating rate three year term loan commitment with Development Bank of Japan Inc. and certain other banks (the “DBJ Term Loan”). This loan was funded in April 2016. Senior Notes due 2023 On March 21, 2016, Aircastle issued $500,000 aggregate principal amount of Senior Notes due 2023 (the "Senior Notes due 2023") at par. The Senior Notes due 2023 will mature on April 1, 2023 and bear interest at the rate of 5.00% per annum, payable semi-annually on April 1 and October 1 of each year, commencing on October 1, 2016. Interest accrues on the Senior Notes due 2023 from March 24, 2016. We may redeem the Senior Notes due 2023 at any time at a redemption price equal to (a) 100% of the principal amount of the notes redeemed, plus accrued and unpaid interest thereon to, but not including, the redemption date and (b) the sum of the present values of the remaining scheduled payments of principal and interest on the notes from the redemption date through the maturity date of the notes (computed using a discount rate equal to the Treasury Rate (as defined in the indenture governing the notes) as of such redemption date plus 50 basis points). In addition, prior to April 1, 2019, we may redeem up to 40% of the aggregate principal amount of the notes issued under the indenture at a redemption price equal to 105% plus accrued and unpaid interest thereon to, but not including, the redemption date, with the net proceeds of certain equity offerings. If the Company undergoes a change of control, it must offer to repurchase the Senior Notes due 2023 at 101% of the principal amount, plus accrued and unpaid interest. The Senior Notes due 2023 are not guaranteed by any of the Company's subsidiaries or any third-party. Revolving Credit Facility On March 29, 2016, we increased the size of our unsecured Revolving Credit Facility from $600,000 to $675,000 and extended its maturity by one year to May 2020. At June 30, 2016 , we had no amounts outstanding under this facility. As of June 30, 2016 , we are in compliance with all applicable covenants in all of our financings.

Shareholders' Equity and Share

Shareholders' Equity and Share Based Payment	6 Months Ended
	Jun. 30, 2016
Shareholders’ Equity and Share Based Payment [Abstract]
Shareholders’ Equity and Share Based Payment	Shareholders' Equity and Share Based Payment Performance Stock Units During the six months ended June 30, 2016, the Company issued performance share units (“PSUs”) to certain employees. These awards were made under the Aircastle Limited 2014 Omnibus Incentive Plan. The PSUs are denominated in share units without dividend rights, each of which is equivalent to one common share, and are subject to performance conditions and time vesting. The PSUs vest at the end of a three year period, which runs from January 1, 2016 through December 31, 2018. Half of the PSUs vest on achieving relative total stockholder return goals (the "TSR PSUs") while the other half vest on attaining annual Adjusted Return on Equity goals (the "AROE PSUs"). The table below shows the PSU awards granted during the six months ended June 30, 2016, including the number of common shares underlying the awards at the time of grant: Minimum Target Maximum TSR PSUs — 133,957 267,914 AROE PSUs — 133,953 267,906 Total — 267,910 535,820 The fair value of the time based TSR PSUs was determined at the grant date using a Monte Carlo simulation model. Included in the Monte Carlo simulation model were certain assumptions regarding a number of highly complex and subjective variables, such as expected volatility, risk-free interest rate and dividend yield. To appropriately value the award, the risk-free interest rate is estimated for the time period from the valuation date until the vesting date and the historical volatilities were estimated based on a historical time frame equal to the time from the valuation date until the end date of the performance period. The number of TSR PSUs that will ultimately vest is based on the percentile ranking of the Company’s TSR among the S&P 400 Index. The number of shares that will ultimately vest will range from 0% to 200% of the target TSR PSUs. The number of shares vesting from the AROE PSUs at the end of the three-year performance period will depend on the Company’s Adjusted Return on Equity as measured against the targets set by the Compensation Committee annually during the performance period, consistent with the business plan approved by the Board. The maximum number of AROE PSUs for 2016 is 89,302 . The fair value of the 2016 AROE PSUs was determined based on the closing market price of the Company’s common shares on the date of grant reduced by the present value of expected dividends to be paid. The number of shares that will ultimately vest will range from 0% to 200% of the target AROE PSUs. During the six months ended June 30, 2016 , the Company granted a target of 178,608 PSUs of which 133,957 are TSR PSUs and 44,651 are AROE PSUs. The remaining 89,302 of target AROE PSUs will be considered granted upon the Compensation Committee’s setting the target AROE for the respective period. The following table summarizes the activities for our unvested PSUs for the six months ended June 30, 2016 : Unvested Performance Stock Units Target Number of Shares of TSR PSUs Target Number of Shares of AROE PSUs TSR PSUs Weighted Fair Value at Grant Date Using a Monte Carlo Simulation Model ($) AROE PSUs Fair Value Equal to Adjusted Closing Stock Price on Date of Grant ($) Unvested at December 31, 2015 — — $ — $ — Granted 133,957 44,651 25.20 19.17 Unvested as of June 30, 2016 133,957 44,651 $ 25.20 $ 19.17 Expected to vest after June 30, 2016 133,957 44,651 $ 25.20 $ 19.17 The Company incurred share based compensation expense related to PSUs of $452 for the six months ended June 30, 2016 . As of June 30, 2016 , there was $3,780 of unrecognized compensation cost related to unvested stock-based payments granted to certain employees that is expected to be recognized over a weighted-average remaining period of 2.5 years . During the first six months of 2016, we repurchased 1,683,713 common shares at an aggregate cost of $31,704 , including commissions. As of June 30, 2016, the remaining dollar value of common shares that may be repurchased under the repurchase program approved by the Company’s Board of Directors on February 9, 2016, is $99,375 .

Dividends

Dividends	6 Months Ended
	Jun. 30, 2016
Dividends [Abstract]
Dividends	Dividends The following table sets forth the quarterly dividends declared by our Board of Directors for the periods covered in this report: Declaration Date Dividend per Common Share Aggregate Dividend Amount Record Date Payment Date May 2, 2016 $ 0.24 $ 18,915 May 31, 2016 June 15, 2016 February 9, 2016 $ 0.24 $ 18,915 February 29, 2016 March 15, 2016 October 30, 2015 $ 0.24 $ 19,377 November 30, 2015 December 15, 2015 August 4, 2015 $ 0.22 $ 17,860 August 31, 2015 September 15, 2015 May 4, 2015 $ 0.22 $ 17,863 May 29, 2015 June 15, 2015

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share We include all common shares granted under our incentive compensation plan which remain unvested (“restricted common shares”) and contain non-forfeitable rights to dividends or dividend equivalents, whether paid or unpaid (“participating securities”), in the number of shares outstanding in our basic earnings per share calculations using the two-class method. All of our restricted common shares are currently participating securities. Under the two-class method, earnings per common share is computed by dividing the sum of distributed earnings allocated to common shareholders and undistributed earnings allocated to common shareholders by the weighted-average number of common shares outstanding for the period. In applying the two-class method, distributed and undistributed earnings are allocated to both common shares and restricted common shares based on the total weighted-average shares outstanding during the period. Because the holders of the participating restricted common shares were not contractually required to share in the Company’s losses, in applying the two-class method to compute the basic and diluted net loss per common share, no allocation to restricted common shares was made for the three and six months ended June 30, 2016 . Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Weighted-average shares: Common shares outstanding 78,159,280 80,566,400 78,351,369 80,565,425 Restricted common shares 685,918 650,206 629,137 583,213 Total weighted-average shares 78,845,198 81,216,606 78,980,506 81,148,638 Percentage of weighted-average shares: Common shares outstanding 99.13 % 99.20 % 99.20 % 99.28 % Restricted common shares 0.87 % 0.80 % 0.80 % 0.72 % Total percentage of weighted-average shares 100.00 % 100.00 % 100.00 % 100.00 % The calculations of both basic and diluted earnings per share are as follows: Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Earnings per share – Basic: Net income $ 20,030 $ 41,808 $ 56,292 $ 85,077 Less: Distributed and undistributed earnings allocated to restricted common shares (1) (174 ) (335 ) (448 ) (611 ) Earnings available to common shareholders – Basic $ 19,856 $ 41,473 $ 55,844 $ 84,466 Weighted-average common shares outstanding – Basic 78,159,280 80,566,400 78,351,369 80,565,425 Earnings per common share – Basic $ 0.25 $ 0.51 $ 0.71 $ 1.05 Earnings per share – Diluted: Net income $ 20,030 $ 41,808 $ 56,292 $ 85,077 Less: Distributed and undistributed earnings allocated to restricted common shares (1) (174 ) (335 ) (448 ) (611 ) Earnings available to common shareholders – Diluted $ 19,856 $ 41,473 $ 55,844 $ 84,466 Weighted-average common shares outstanding – Basic 78,159,280 80,566,400 78,351,369 80,565,425 Effect of dilutive shares (2) — — — — Weighted-average common shares outstanding – Diluted 78,159,280 80,566,400 78,351,369 80,565,425 Earnings per common share – Diluted $ 0.25 $ 0.51 $ 0.71 $ 1.05 (1) For the three months ended June 30, 2016 and 2015 , distributed and undistributed earnings to restricted shares are 0.87% and 0.80% , respectively, of net income. For the six months ended June 30, 2016 and 2015 , distributed and undistributed earnings to restricted shares are 0.80% and 0.72% of net income, respectively. The amount of restricted share forfeitures for all periods present is immaterial to the allocation of distributed and undistributed earnings. (2) For the three and six months ended June 30, 2016 and 2015 , we had no dilutive shares.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2016
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Income taxes have been provided for based upon the tax laws and rates in countries in which our operations are conducted and income is earned. The Company received an assurance from the Bermuda Minister of Finance that it would be exempted from local income, withholding and capital gains taxes until March 2035. Consequently, the provision for income taxes relates to income earned by certain subsidiaries of the Company which are located in, or earn income in, jurisdictions that impose income taxes, primarily Ireland, Singapore and the United States. The sources of income from continuing operations before income taxes and earnings of unconsolidated equity method investment for the three and six months ended June 30, 2016 and 2015 were as follows: Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 U.S. operations $ 1,158 $ 840 $ 1,744 $ 1,220 Non-U.S. operations 19,231 43,868 57,287 90,179 Total $ 20,389 $ 44,708 $ 59,031 $ 91,399 All of our aircraft-owning subsidiaries that are recognized as corporations for U.S. tax purposes are non-U.S. corporations. These non-U.S. subsidiaries generally earn income from sources outside the United States and typically are not subject to U.S. federal, state or local income taxes unless they operate within the U.S., in which case they may be subject to federal, state and local income taxes. The aircraft owning subsidiaries resident in Ireland, Mauritius and Singapore are subject to tax in those respective jurisdictions. We have a U.S. based subsidiary which provides management services to our non-U.S. subsidiaries and is subject to U.S. federal, state and local income taxes. We also have Ireland and Singapore based subsidiaries which provide management services to our non-U.S. subsidiaries and are subject to tax in those respective jurisdictions. The consolidated income tax expense for the three and six months ended June 30, 2016 and 2015 was determined based upon estimates of the Company’s consolidated effective income tax rates for the years ending December 31, 2016 and 2015, respectively. The Company’s effective tax rate for the three and six months ended June 30, 2016 was 11.7% and 10.7% , respectively, compared to 10.0% and 10.2% for the three and six months ended June 30, 2015 . Movements in the effective tax rates are generally caused by changes in the proportion of the Company’s pre-tax earnings in taxable and non-tax jurisdictions. Differences between statutory income tax rates and our effective income tax rates applied to pre-tax income consisted of the following: Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Notional U.S. federal income tax expense at the statutory rate $ 7,136 $ 15,648 $ 20,661 $ 31,990 U.S. state and local income tax, net 78 68 125 110 Non-U.S. operations: Bermuda (1,570 ) (7,368 ) (10,662 ) (15,895 ) Ireland 194 (1,785 ) 2,073 (2,907 ) Singapore (2,716 ) (1,375 ) (4,051 ) (2,731 ) Other (872 ) (901 ) (2,083 ) (1,579 ) Non-deductible expenses in the U.S. 150 191 285 361 Other (15 ) (13 ) (24 ) (21 ) Income tax provision $ 2,385 $ 4,465 $ 6,324 $ 9,328

Interest, Net

Interest, Net	6 Months Ended
	Jun. 30, 2016
Interest Income (Expense), Net [Abstract]
Interest Net	Interest, Net The following table shows the components of interest, net: Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Interest on borrowings, net settlements on interest rate derivatives, and other liabilities (1) $ 55,779 $ 51,413 $ 109,103 $ 101,648 Hedge ineffectiveness losses — 294 — 294 Amortization of interest rate derivatives related to deferred losses 2,997 6,110 8,369 14,343 Amortization of deferred financing fees and debt discount (2) 3,863 3,766 9,470 7,465 Interest expense 62,639 61,583 126,942 123,750 Less interest income (160 ) (32 ) (222 ) (68 ) Less capitalized interest (27 ) — (27 ) — Interest, net $ 62,452 $ 61,551 $ 126,693 $ 123,682 (1) For the three and six months ended June 30, 2016 , includes $0 and $1,509 , respectively, in loan termination fees related to the sale of one aircraft. (2) For the three and six months ended June 30, 2016 , includes $0 and $1,972 , respectively, in deferred financing fees written off related to the sale of one aircraft.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies At June 30, 2016 , we had commitments to acquire 37 aircraft, including 25 Embraer E-2 aircraft, for $1,400,540 . Commitments, including $141,957 of progress payments, contractual price escalations and other adjustments for these aircraft, at June 30, 2016 , net of amounts already paid, are as follows: Year Ending December 31, Amount Remainder of 2016 $ 319,311 2017 170,253 2018 258,179 2019 293,756 2020 216,847 Thereafter 142,194 Total $ 1,400,540

Other Assets

Other Assets	6 Months Ended
	Jun. 30, 2016
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other Assets	Other Assets The following table describes the principal components of other assets on our Consolidated Balance Sheets as of: June 30, December 31, Deferred federal income tax asset $ 791 $ 1,362 Lease incentives and lease premiums, net of amortization of $35,151 and $31,623, respectively 83,109 86,874 Flight equipment held for sale (1) 43,016 12,901 Other assets 37,613 22,570 Total other assets $ 164,529 $ 123,707 (1) In July 2016, we sold two older Boeing 747-400 freighter aircraft.

Accounts Payable, Accrued Expen

Accounts Payable, Accrued Expenses and Other Liabilities	6 Months Ended
	Jun. 30, 2016
Payables and Accruals [Abstract]
Accounts Payable, Accrued Expenses and Other Liabilities	Accounts Payable, Accrued Expenses and Other Liabilities The following table describes the principal components of accounts payable, accrued expenses and other liabilities recorded on our Consolidated Balance Sheets as of: June 30, December 31, Accounts payable and accrued expenses $ 36,080 $ 34,457 Deferred federal income tax liability 36,940 35,269 Accrued interest payable 43,674 37,606 Lease discounts, net of amortization of $24,213 and $19,403, respectively 18,669 22,443 Fair value of derivative liabilities — 1,283 Total accounts payable, accrued expenses and other liabilities $ 135,363 $ 131,058

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Notes)	6 Months Ended
	Jun. 30, 2016
Equity [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss The following table describes the principal components of accumulated other comprehensive loss recorded on our Consolidated Balance Sheets: Changes in accumulated other comprehensive loss by component (1) Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Beginning balance $ (7,842 ) $ (30,355 ) $ (13,213 ) $ (38,460 ) Amounts recognized in other comprehensive loss on derivatives, net of tax expense of $0 and $14 for the three months ended and tax expense of $0 for the six months ended June 30, 2016 and 2015, respectively (188 ) (317 ) (690 ) (1,395 ) Amounts reclassified from accumulated other comprehensive loss into income, net of tax expense of $0 and $12 for the three months ended and tax expense of $0 and $23 for the six months ended June 30, 2016 and 2015, respectively 3,185 6,991 9,058 16,174 Net current period other comprehensive income 2,997 6,674 8,368 14,779 Ending balance $ (4,845 ) $ (23,681 ) $ (4,845 ) $ (23,681 ) (1) All amounts are net of tax. Amounts in parentheses indicate debits. Reclassifications from accumulated other comprehensive loss (1) Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Amount of effective amortization of net deferred interest rate derivative losses (2) $ 2,997 $ 6,110 $ 8,369 $ 14,343 Effective amount of net settlements of interest rate derivatives, net of tax expense of $0 and $12 for the three months ended and tax expense of $0 and $23 for the six months ended June 30, 2016 and 2015, respectively 188 881 689 1,831 Amount of loss reclassified from accumulated other comprehensive loss into income $ 3,185 $ 6,991 $ 9,058 $ 16,174 (1) All amounts are net of tax. (2) Included in interest expense. At June 30, 2016 , the amount of deferred net loss expected to be reclassified from OCI into interest expense over the next twelve months related to our terminated interest rate derivatives is $2,449 .

Summary of Significant Accoun25

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
Organization and Basis of Presentation	Aircastle is a holding company that conducts its business through subsidiaries. Aircastle directly or indirectly owns all of the outstanding common shares of its subsidiaries. The consolidated financial statements presented are prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”). The company manages, analyzes and reports on its business and results of operations on the basis of one operating segment: leasing, financing, selling and managing commercial flight equipment. Our chief executive officer is the chief operating decision maker. The accompanying consolidated financial statements are unaudited and have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) for interim financial reporting and, in our opinion, reflect all adjustments, including normal recurring items, which are necessary to present fairly the results for interim periods. Operating results for the periods presented are not necessarily indicative of the results that may be expected for the entire year. Certain information and footnote disclosures normally included in consolidated financial statements prepared in accordance with U.S. GAAP have been omitted in accordance with the rules and regulations of the SEC; however, we believe that the disclosures are adequate to make information presented not misleading. These financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015 .
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts of Aircastle and all of its subsidiaries. Aircastle consolidates five Variable Interest Entities (“VIEs”) of which Aircastle is the primary beneficiary. All intercompany transactions and balances have been eliminated in consolidation. We consolidate VIEs in which we have determined that we are the primary beneficiary. We use judgment when deciding: (a) whether an entity is subject to consolidation as a VIE; (b) who the variable interest holders are; (c) the potential expected losses and residual returns of the variable interest holders; and (d) which variable interest holder is the primary beneficiary. When determining which enterprise is the primary beneficiary, we consider: (1) the entity’s purpose and design; (2) which variable interest holder has the power to direct the activities that most significantly impact the entity’s economic performance; and (3) the obligation to absorb losses of the entity or the right to receive benefits from the entity that could potentially be significant to the VIE. When certain events occur, we reconsider whether we are the primary beneficiary of VIEs. We do not reconsider whether we are a primary beneficiary solely because of operating losses incurred by an entity.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. While Aircastle believes that the estimates and related assumptions used in the preparation of the consolidated financial statements are appropriate, actual results could differ from those estimates.
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements On February 25, 2016, the FASB issued Accounting Standards Codification (“ASC”) 842 (“ASC 842”), “ Leases ,” which replaced the existing guidance in ASC 840, Leases . The accounting for leases by lessors basically remained unchanged from the concepts that existed in ASC 840 accounting. The FASB decided that lessors would be precluded from recognizing selling profit and revenue at lease commencement for any sales-type or direct finance lease that does not transfer control of the underlying asset to the lessee. This requirement aligns the notion of what constitutes a sale in the lessor accounting guidance with that in the forthcoming revenue recognition standard, which evaluates whether a sale has occurred from the customer’s perspective. The standard will be effective for public entities beginning after December 15, 2018. The standard is applied on a “modified retrospective” basis. We are evaluating the impact that ASC 842 will have on our consolidated financial statements and related disclosures. We do not believe that the adoption of the standard will significantly impact our existing or potential lessees' economic decisions to lease aircraft. On May 28, 2014, the FASB and the International Accounting Standards Board (the “IASB”) (collectively, “the Boards”), jointly issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606). Lease contracts within the scope of ASC 840, Leases , are specifically excluded from ASU No. 2014-09. The standard’s core principle is that a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which a company expects to be entitled in exchange for those goods or services. The standard is effective for public entities beginning after December 15, 2017. The standard allows for either “full retrospective” adoption, meaning the standard is applied to all of the periods presented, or “modified retrospective” adoption, meaning the standard is applied only to the most current period presented in the financial statements. We are evaluating the impact of the ASU on our consolidated financial statements and related disclosures. On August 27, 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements - Going Concern (Subtopic 205-40). The standard requires management of public companies to evaluate whether there is substantial doubt about the entity’s ability to continue as a going concern and, if so, disclose that fact. Management should evaluate whether there are conditions or events, considered in the aggregate, that raises substantial doubt about the entity’s ability to continue as a going concern within one year after the date that the financial statements are issued (or available to be issued, when applicable). The standard is effective for annual periods ending after December 15, 2016 and interim periods thereafter, and early adoption is permitted. We do not believe the standard will have a material impact on our consolidated financial statements and related disclosures when adopted. In March 2016, the FASB issued ASU No. 2016-09, Compensation - Stock Compensation (Topic 718). The update amends the guidelines for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The standard is effective for annual and interim periods beginning January 1, 2017, and early adoption is permitted. We are evaluating the impact of the ASU on our consolidated financial statements and related disclosures.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2016
Fair Value Disclosures [Abstract]
Fair value assets and liabilities measured on recurring basis	The following tables set forth our financial assets and liabilities as of June 30, 2016 and December 31, 2015 that we measured at fair value on a recurring basis by level within the fair value hierarchy. Assets and liabilities measured at fair value are classified in their entirety based on the lowest level of input that is significant to their fair value measurement. Fair Value Measurements at June 30, 2016 Using Fair Value Hierarchy Fair Value as of June 30, 2016 Quoted Prices In Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Valuation Technique Assets: Cash and cash equivalents $ 493,233 $ 493,233 $ — $ — Market Restricted cash and cash equivalents 51,418 51,418 — — Market Total $ 544,651 $ 544,651 $ — $ — Liabilities: Derivative liabilities $ — $ — $ — $ — Income Fair Value Measurements at December 31, 2015 Using Fair Value Hierarchy Fair Value as of December 31, 2015 Quoted Prices In Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Valuation Technique Assets: Cash and cash equivalents $ 155,904 $ 155,904 $ — $ — Market Restricted cash and cash equivalents 98,137 98,137 — — Market Total $ 254,041 $ 254,041 $ — $ — Liabilities: Derivative liabilities $ 1,283 $ — $ 1,283 $ — Income
Carrying amounts and fair values of financial instruments	The carrying amounts and fair values of our financial instruments at June 30, 2016 and December 31, 2015 are as follows: June 30, 2016 December 31, 2015 Carrying Amount of Liability Fair Value of Liability Carrying Amount of Liability Fair Value of Liability Securitizations $ — $ — $ 125,366 $ 123,696 Credit Facilities 120,000 120,000 225,000 225,000 ECA Financings 326,004 347,409 404,491 422,640 Bank Financings 774,903 794,875 636,970 653,699 Senior Notes 3,200,000 3,360,390 2,700,000 2,832,125

Lease Rental Revenues and Fli27

Lease Rental Revenues and Flight Equipment Held for Lease (Tables)	6 Months Ended
	Jun. 30, 2016
Leases [Abstract]
Annual future minimum lease rentals receivable	Minimum future annual lease rentals contracted to be received under our existing operating leases of flight equipment at June 30, 2016 were as follows: Year Ending December 31, Amount Remainder of 2016 $ 360,019 2017 647,844 2018 573,162 2019 499,783 2020 413,445 Thereafter 1,153,821 Total $ 3,648,074
Geographic concentration of lease rental revenue earnings	Geographic concentration of lease rental revenue earned from flight equipment held for lease was as follows: Three Months Ended June 30, Six Months Ended June 30, Region 2016 2015 2016 2015 Asia and Pacific 39 % 42 % 40 % 42 % Europe 24 % 28 % 25 % 29 % South America 19 % 15 % 19 % 14 % Middle East and Africa 12 % 9 % 11 % 9 % North America 6 % 6 % 5 % 6 % Total 100 % 100 % 100 % 100 %
Schedule of Revenue by Major Customers by Reporting Segments [Table Text Block]	The following table shows the number of lessees with lease rental revenue of at least 5% and their combined total percentage of lease rental revenue for the years indicated: Three Months Ended June 30, 2016 Three Months Ended June 30, 2015 Six Months Ended June 30, 2016 Six Months Ended June 30, 2015 Number of Lessees Combined % of Lease Rental Revenue Number of Lessees Combined % of Lease Rental Revenue Number of Lessees Combined % of Lease Rental Revenue Number of Lessees Combined % of Lease Largest lessees by lease rental revenue 4 25% 3 17% 4 25% 3 18%
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block]	The following table sets forth revenue attributable to individual countries representing at least 10% of total revenue (including maintenance revenue) in any year based on each lessee’s principal place of business for the years indicated: Three Months Ended June 30, 2016 Three Months Ended June 30, 2015 Six Months Ended June 30, 2016 Six Months Ended June 30, 2015 Country Revenue % of Total Revenue Revenue % of Total Revenue Revenue % of Total Revenue Revenue % of Total Revenue Indonesia (1) $ 19,906 11% $ — —% $ 39,450 11% $ — —% _______________ (1) Total revenue attributable to Indonesia was less than 10% for the three and six months ended June 30, 2015.
Geographic concentration of net book value of flight equipment held for lease	Geographic concentration of net book value of flight equipment (includes net book value of flight equipment held for lease and net investment in finance leases) was as follows: June 30, 2016 December 31, 2015 Region Number of Aircraft Net Book Value % Number of Aircraft Net Book Value % Asia and Pacific 49 37 % 49 39 % Europe 59 24 % 64 26 % South America 22 18 % 22 19 % Middle East and Africa 13 11 % 9 10 % North America 23 8 % 17 6 % Off-lease 3 (1) 2 % 1 (2) — % Total 169 100 % 162 100 % _______________ (1) Consists of two Boeing 737-800 aircraft, for which we have signed lease agreements with customers in Asia, and one Airbus A330-200 aircraft, for which we have a signed lease agreement with a customer in South America. (2) Consisted of one Boeing 777-200ER aircraft that was sold during the second quarter of 2016.
Schedule of Disclosure on Geographic Areas, Long-Lived Assets in Individual Foreign Countries by Country [Table Text Block]	The following table sets forth net book value of flight equipment (includes net book value of flight equipment held for lease and net investment in finance leases) attributable to individual countries representing at least 10% of net book value of flight equipment based on each lessee’s principal place of business as of: June 30, 2016 December 31, 2015 Region Net Book Value Net Book Value % Number of Lessees Net Book Value Net Book Value % Number of Lessees Indonesia $ 647,022 11% 3 $ 661,178 11% 3

Net Investment in Finance Lea28

Net Investment in Finance Leases (Tables)	6 Months Ended
	Jun. 30, 2016
Leases [Abstract]
Schedule Of Components Of Investment In Finance Leases	The following table lists the components of our net investment in finance and sales-type leases at June 30, 2016 : Amount Total lease payments to be received $ 229,766 Less: Unearned income (97,315 ) Estimated residual values of leased flight equipment (unguaranteed) 159,452 Net investment in finance and sales-type leases $ 291,903
Schedule of Future Minimum Lease Payments for Capital Leases	At June 30, 2016 , minimum future lease payments on finance and sales-type leases are as follows: Year Ending December 31, Amount Remainder of 2016 $ 21,774 2017 39,718 2018 32,189 2019 32,018 2020 30,938 Thereafter 73,129 Total lease payments to be received $ 229,766

Unconsolidated Equity Method 29

Unconsolidated Equity Method Investment (Tables)	6 Months Ended
	Jun. 30, 2016
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments	The Company has recorded in its Consolidated Balance Sheet a $7,705 guarantee liability in Maintenance payments and a $5,100 guarantee liability in Security deposits representing its share of the respective exposures. At June 30, 2016 , the net book value of our joint ventures’ ten aircraft was approximately $612 million. Amount Investment in joint ventures at December 31, 2015 $ 50,377 Investment in joint ventures 12,424 Earnings from joint ventures, net of tax 3,585 Distributions (2,029 ) Investment in joint ventures at June 30, 2016 $ 64,357

Secured and Unsecured Debt Fi30

Secured and Unsecured Debt Financings (Tables)	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Outstanding amounts of secured and unsecured term debt financings	The outstanding amounts of our secured and unsecured term debt financings are as follows: At June 30, 2016 At December 31, 2015 Debt Obligation Outstanding Borrowings Number of Aircraft Interest Rate (1) Final Stated Maturity Outstanding Secured Debt Financings: Securitization No. 2 $ — — —% — $ 125,366 ECA Financings (2) 326,004 7 3.02% to 3.96% 12/3/21 to 11/30/24 404,491 Bank Financings (3) 774,903 20 1.44% to 5.09% 10/26/17 to 01/19/26 636,970 Less: Debt Issuance Costs (22,084 ) — (20,589 ) Total secured debt financings, net of debt issuance costs 1,078,823 27 1,146,238 Unsecured Debt Financings: Senior Notes due 2017 500,000 6.75% 04/15/17 500,000 Senior Notes due 2018 400,000 4.625% 12/05/18 400,000 Senior Notes due 2019 500,000 6.250% 12/01/19 500,000 Senior Notes due 2020 300,000 7.625% 04/15/20 300,000 Senior Notes due 2021 500,000 5.125% 03/15/21 500,000 Senior Notes due 2022 500,000 5.50% 02/15/22 500,000 Senior Notes due 2023 500,000 5.00% 04/01/23 — DBJ Term Loan 120,000 2.653% 04/28/19 — Revolving Credit Facility — N/A 05/13/20 225,000 Less: Debt Issuance Costs (36,029 ) (30,082 ) Total unsecured debt financings, net of debt issuance costs 3,283,971 2,894,918 Total secured and unsecured debt financings, net of debt issuance costs $ 4,362,794 $ 4,041,156 (1) Reflects the floating rate in effect at the applicable reset date plus the margin for our DBJ Term Loan, six of our Bank Financings and our Revolving Credit Facility. All other financings have a fixed rate. (2) The borrowings under these financings at June 30, 2016 have a weighted-average rate of interest of 3.53% . (3) The borrowings under these financings at June 30, 2016 have a weighted-average fixed rate of interest of 3.21% .

Shareholders' Equity and Shar31

Shareholders' Equity and Share Based Payment (Tables)	6 Months Ended
	Jun. 30, 2016
Shareholders’ Equity and Share Based Payment [Abstract]
Schedule of Performance Award Ranges [Table Text Block]	The table below shows the PSU awards granted during the six months ended June 30, 2016, including the number of common shares underlying the awards at the time of grant: Minimum Target Maximum TSR PSUs — 133,957 267,914 AROE PSUs — 133,953 267,906 Total — 267,910 535,820
Schedule of Nonvested Restricted Stock Units Activity	The following table summarizes the activities for our unvested PSUs for the six months ended June 30, 2016 : Unvested Performance Stock Units Target Number of Shares of TSR PSUs Target Number of Shares of AROE PSUs TSR PSUs Weighted Fair Value at Grant Date Using a Monte Carlo Simulation Model ($) AROE PSUs Fair Value Equal to Adjusted Closing Stock Price on Date of Grant ($) Unvested at December 31, 2015 — — $ — $ — Granted 133,957 44,651 25.20 19.17 Unvested as of June 30, 2016 133,957 44,651 $ 25.20 $ 19.17 Expected to vest after June 30, 2016 133,957 44,651 $ 25.20 $ 19.17

Dividends (Tables)

Dividends (Tables)	6 Months Ended
	Jun. 30, 2016
Dividends [Abstract]
Quarterly dividends declared by board of directors	The following table sets forth the quarterly dividends declared by our Board of Directors for the periods covered in this report: Declaration Date Dividend per Common Share Aggregate Dividend Amount Record Date Payment Date May 2, 2016 $ 0.24 $ 18,915 May 31, 2016 June 15, 2016 February 9, 2016 $ 0.24 $ 18,915 February 29, 2016 March 15, 2016 October 30, 2015 $ 0.24 $ 19,377 November 30, 2015 December 15, 2015 August 4, 2015 $ 0.22 $ 17,860 August 31, 2015 September 15, 2015 May 4, 2015 $ 0.22 $ 17,863 May 29, 2015 June 15, 2015

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
Allocation of distributed and undistributed earnings to both common shares and restricted common shares	In applying the two-class method, distributed and undistributed earnings are allocated to both common shares and restricted common shares based on the total weighted-average shares outstanding during the period. Because the holders of the participating restricted common shares were not contractually required to share in the Company’s losses, in applying the two-class method to compute the basic and diluted net loss per common share, no allocation to restricted common shares was made for the three and six months ended June 30, 2016 . Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Weighted-average shares: Common shares outstanding 78,159,280 80,566,400 78,351,369 80,565,425 Restricted common shares 685,918 650,206 629,137 583,213 Total weighted-average shares 78,845,198 81,216,606 78,980,506 81,148,638 Percentage of weighted-average shares: Common shares outstanding 99.13 % 99.20 % 99.20 % 99.28 % Restricted common shares 0.87 % 0.80 % 0.80 % 0.72 % Total percentage of weighted-average shares 100.00 % 100.00 % 100.00 % 100.00 %
Basic and Diluted earnings per share	The calculations of both basic and diluted earnings per share are as follows: Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Earnings per share – Basic: Net income $ 20,030 $ 41,808 $ 56,292 $ 85,077 Less: Distributed and undistributed earnings allocated to restricted common shares (1) (174 ) (335 ) (448 ) (611 ) Earnings available to common shareholders – Basic $ 19,856 $ 41,473 $ 55,844 $ 84,466 Weighted-average common shares outstanding – Basic 78,159,280 80,566,400 78,351,369 80,565,425 Earnings per common share – Basic $ 0.25 $ 0.51 $ 0.71 $ 1.05 Earnings per share – Diluted: Net income $ 20,030 $ 41,808 $ 56,292 $ 85,077 Less: Distributed and undistributed earnings allocated to restricted common shares (1) (174 ) (335 ) (448 ) (611 ) Earnings available to common shareholders – Diluted $ 19,856 $ 41,473 $ 55,844 $ 84,466 Weighted-average common shares outstanding – Basic 78,159,280 80,566,400 78,351,369 80,565,425 Effect of dilutive shares (2) — — — — Weighted-average common shares outstanding – Diluted 78,159,280 80,566,400 78,351,369 80,565,425 Earnings per common share – Diluted $ 0.25 $ 0.51 $ 0.71 $ 1.05 (1) For the three months ended June 30, 2016 and 2015 , distributed and undistributed earnings to restricted shares are 0.87% and 0.80% , respectively, of net income. For the six months ended June 30, 2016 and 2015 , distributed and undistributed earnings to restricted shares are 0.80% and 0.72% of net income, respectively. The amount of restricted share forfeitures for all periods present is immaterial to the allocation of distributed and undistributed earnings. (2) For the three and six months ended June 30, 2016 and 2015 , we had no dilutive shares.

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
	Jun. 30, 2016
Income Tax Disclosure [Abstract]
Sources of income from continuing operations before income taxes	The sources of income from continuing operations before income taxes and earnings of unconsolidated equity method investment for the three and six months ended June 30, 2016 and 2015 were as follows: Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 U.S. operations $ 1,158 $ 840 $ 1,744 $ 1,220 Non-U.S. operations 19,231 43,868 57,287 90,179 Total $ 20,389 $ 44,708 $ 59,031 $ 91,399
Analysis of effective income tax rate for continuing operations	Differences between statutory income tax rates and our effective income tax rates applied to pre-tax income consisted of the following: Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Notional U.S. federal income tax expense at the statutory rate $ 7,136 $ 15,648 $ 20,661 $ 31,990 U.S. state and local income tax, net 78 68 125 110 Non-U.S. operations: Bermuda (1,570 ) (7,368 ) (10,662 ) (15,895 ) Ireland 194 (1,785 ) 2,073 (2,907 ) Singapore (2,716 ) (1,375 ) (4,051 ) (2,731 ) Other (872 ) (901 ) (2,083 ) (1,579 ) Non-deductible expenses in the U.S. 150 191 285 361 Other (15 ) (13 ) (24 ) (21 ) Income tax provision $ 2,385 $ 4,465 $ 6,324 $ 9,328

Interest, Net (Tables)

Interest, Net (Tables)	6 Months Ended
	Jun. 30, 2016
Interest Income (Expense), Net [Abstract]
Components of Interest	The following table shows the components of interest, net: Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Interest on borrowings, net settlements on interest rate derivatives, and other liabilities (1) $ 55,779 $ 51,413 $ 109,103 $ 101,648 Hedge ineffectiveness losses — 294 — 294 Amortization of interest rate derivatives related to deferred losses 2,997 6,110 8,369 14,343 Amortization of deferred financing fees and debt discount (2) 3,863 3,766 9,470 7,465 Interest expense 62,639 61,583 126,942 123,750 Less interest income (160 ) (32 ) (222 ) (68 ) Less capitalized interest (27 ) — (27 ) — Interest, net $ 62,452 $ 61,551 $ 126,693 $ 123,682 (1) For the three and six months ended June 30, 2016 , includes $0 and $1,509 , respectively, in loan termination fees related to the sale of one aircraft. (2) For the three and six months ended June 30, 2016 , includes $0 and $1,972 , respectively, in deferred financing fees written off related to the sale of one aircraft.

Commitments and Contingencies C

Commitments and Contingencies Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Long-term Purchase Commitment [Table Text Block]	Commitments, including $141,957 of progress payments, contractual price escalations and other adjustments for these aircraft, at June 30, 2016 , net of amounts already paid, are as follows: Year Ending December 31, Amount Remainder of 2016 $ 319,311 2017 170,253 2018 258,179 2019 293,756 2020 216,847 Thereafter 142,194 Total $ 1,400,540

Other Assets (Tables)

Other Assets (Tables)	6 Months Ended
	Jun. 30, 2016
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Principal components of other assets	In July 2016, we sold two older Boeing 747-400 freighter aircraft.

Accounts Payable, Accrued Exp38

Accounts Payable, Accrued Expenses and Other Liabilities (Tables)	6 Months Ended
	Jun. 30, 2016
Payables and Accruals [Abstract]
Principal components of accounts payable, accrued expenses and other liabilities recorded on our consolidated balance sheet	The following table describes the principal components of accounts payable, accrued expenses and other liabilities recorded on our Consolidated Balance Sheets as of: June 30, December 31, Accounts payable and accrued expenses $ 36,080 $ 34,457 Deferred federal income tax liability 36,940 35,269 Accrued interest payable 43,674 37,606 Lease discounts, net of amortization of $24,213 and $19,403, respectively 18,669 22,443 Fair value of derivative liabilities — 1,283 Total accounts payable, accrued expenses and other liabilities $ 135,363 $ 131,058

Accumulated Other Comprehensi39

Accumulated Other Comprehensive Income (Tables)	6 Months Ended
	Jun. 30, 2016
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The following table describes the principal components of accumulated other comprehensive loss recorded on our Consolidated Balance Sheets: Changes in accumulated other comprehensive loss by component (1) Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Beginning balance $ (7,842 ) $ (30,355 ) $ (13,213 ) $ (38,460 ) Amounts recognized in other comprehensive loss on derivatives, net of tax expense of $0 and $14 for the three months ended and tax expense of $0 for the six months ended June 30, 2016 and 2015, respectively (188 ) (317 ) (690 ) (1,395 ) Amounts reclassified from accumulated other comprehensive loss into income, net of tax expense of $0 and $12 for the three months ended and tax expense of $0 and $23 for the six months ended June 30, 2016 and 2015, respectively 3,185 6,991 9,058 16,174 Net current period other comprehensive income 2,997 6,674 8,368 14,779 Ending balance $ (4,845 ) $ (23,681 ) $ (4,845 ) $ (23,681 ) (1) All amounts are net of tax. Amounts in parentheses indicate debits.
Reclassification out of Accumulated Other Comprehensive Income	Reclassifications from accumulated other comprehensive loss (1) Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Amount of effective amortization of net deferred interest rate derivative losses (2) $ 2,997 $ 6,110 $ 8,369 $ 14,343 Effective amount of net settlements of interest rate derivatives, net of tax expense of $0 and $12 for the three months ended and tax expense of $0 and $23 for the six months ended June 30, 2016 and 2015, respectively 188 881 689 1,831 Amount of loss reclassified from accumulated other comprehensive loss into income $ 3,185 $ 6,991 $ 9,058 $ 16,174 (1) All amounts are net of tax. (2) Included in interest expense.

Summary of Significant Accoun40

Summary of Significant Accounting Policies Summary of Significant Accounting Policies (Details)	6 Months Ended
	Jun. 30, 2016Entitysegment
Variable Interest Entity [Line Items]
Number of Operating Segments | segment	1
Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Number of Consolidated Variable Interest Entities | Entity	5

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Liabilities:
Derivative liabilities	$ 0	$ 1,283
Recurring | Quoted Prices In Active Markets for Identical Assets (Level 1)
Assets:
Cash and cash equivalents	493,233	155,904
Restricted cash and cash equivalents	51,418	98,137
Total	544,651	254,041
Liabilities:
Derivative liabilities	0	0
Recurring | Significant Other Observable Inputs (Level 2)
Assets:
Cash and cash equivalents	0	0
Restricted cash and cash equivalents	0	0
Total	0	0
Liabilities:
Derivative liabilities	0	1,283
Recurring | Significant Unobservable Inputs (Level 3)
Assets:
Cash and cash equivalents	0	0
Restricted cash and cash equivalents	0	0
Total	0	0
Liabilities:
Derivative liabilities	0	0
Recurring | Estimate of Fair Value Measurement [Member]
Assets:
Cash and cash equivalents	493,233	155,904
Restricted cash and cash equivalents	51,418	98,137
Total	544,651	254,041
Liabilities:
Derivative liabilities	$ 0	$ 1,283

Fair Value Measurements (Deta42

Fair Value Measurements (Details 1) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015	Jun. 30, 2015	Dec. 31, 2014
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative Liability	$ 0	$ 1,283
Restricted Cash and Cash Equivalents	51,418	98,137
Cash and Cash Equivalents, at Carrying Value	493,233	155,904	$ 242,941	$ 169,656
Fair Value, Inputs, Level 1 [Member] | Recurring
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative Liability	0	0
Estimate of Fair Value Measurement [Member] | Recurring
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative Liability	$ 0	$ 1,283

Fair Value Measurements (Deta43

Fair Value Measurements (Details 3) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Secured Debt | Significant Other Observable Inputs (Level 2) | Reported Value Measurement | Securitizations
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt Instrument, Fair Value Disclosure	$ 0	$ (125,366)
Secured Debt | Significant Other Observable Inputs (Level 2) | Reported Value Measurement | ECA Term Financings {Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt Instrument, Fair Value Disclosure	(326,004)	(404,491)
Secured Debt | Significant Other Observable Inputs (Level 2) | Reported Value Measurement | Bank Financings
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt Instrument, Fair Value Disclosure	(774,903)	(636,970)
Secured Debt | Significant Other Observable Inputs (Level 2) | Estimate of Fair Value Measurement [Member] | Securitizations
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt Instrument, Fair Value Disclosure	0	(123,696)
Secured Debt | Significant Other Observable Inputs (Level 2) | Estimate of Fair Value Measurement [Member] | ECA Term Financings {Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt Instrument, Fair Value Disclosure	(347,409)	(422,640)
Secured Debt | Significant Other Observable Inputs (Level 2) | Estimate of Fair Value Measurement [Member] | Bank Financings
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt Instrument, Fair Value Disclosure	(794,875)	(653,699)
Unsecured Debt | Quoted Prices In Active Markets for Identical Assets (Level 1) | Reported Value Measurement | Revolving Credit Facility [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt Instrument, Fair Value Disclosure	(120,000)	(225,000)
Unsecured Debt | Quoted Prices In Active Markets for Identical Assets (Level 1) | Reported Value Measurement | Senior Notes
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt Instrument, Fair Value Disclosure	(3,200,000)	(2,700,000)
Unsecured Debt | Quoted Prices In Active Markets for Identical Assets (Level 1) | Estimate of Fair Value Measurement [Member] | Senior Notes
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Debt Instrument, Fair Value Disclosure	$ (3,360,390)	$ (2,832,125)

Fair Value Measurements (Deta44

Fair Value Measurements (Details Textual) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016USD ($)Aircraft	Jun. 30, 2015USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2015USD ($)Aircraft	Dec. 31, 2015USD ($)
Impaired Long-Lived Assets Held and Used [Line Items]
Asset Impairment Charges	$ 16,723	$ 23,955	$ 16,723	$ 23,955
Property Subject to or Available for Operating Lease, Net	5,875,935		5,875,935		$ 5,867,062
Maintenance Revenue	12,514	21,349	13,774	39,422
Other revenue	1,003	$ 851	$ 1,410	2,145
Fleet Review [Member]
Impaired Long-Lived Assets Held and Used [Line Items]
Asset Impairment Charges	11,670
Maintenance Revenue	$ 4,000
Fleet Review [Member] | A-330-200 [Member]
Impaired Long-Lived Assets Held and Used [Line Items]
Number of Aircraft Impaired | Aircraft	1
Transactional [Member]
Impaired Long-Lived Assets Held and Used [Line Items]
Asset Impairment Charges	$ 5,053			23,955
Maintenance Revenue				$ 18,234
Transactional [Member] | B747-400 Converted Freighter [Member]
Impaired Long-Lived Assets Held and Used [Line Items]
Number of Aircraft Impaired | Aircraft	2
Transactional [Member] | McDonnell Douglas MD-11F Freighter Aircraft [Member]
Impaired Long-Lived Assets Held and Used [Line Items]
Number of Aircraft Impaired | Aircraft				2
Transactional [Member] | B-737-800 [Member]
Impaired Long-Lived Assets Held and Used [Line Items]
Number of Aircraft Impaired | Aircraft				1

Lease Rental Revenues and Fli45

Lease Rental Revenues and Flight Equipment Held for Lease (Details) $ in Thousands	Jun. 30, 2016USD ($)
Leases [Abstract]
Operating Leases, Future Minimum Payments Receivable, Remainder of Fiscal Year	$ 360,019
Annual future minimum lease rentals receivable
2,014	647,844
2,015	573,162
2,016	499,783
2,017	413,445
Thereafter	1,153,821
Total	$ 3,648,074

Lease Rental Revenues and Fli46

Lease Rental Revenues and Flight Equipment Held for Lease (Details 1) - Lease Rental Revenue - Geographic Concentration Risk	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Revenues from External Customers and Long-Lived Assets [Line Items]
Percentage of geographic concentration	100.00%	100.00%	100.00%	100.00%
Asia and Pacific
Revenues from External Customers and Long-Lived Assets [Line Items]
Percentage of geographic concentration	24.00%	28.00%	25.00%	29.00%
Europe
Revenues from External Customers and Long-Lived Assets [Line Items]
Percentage of geographic concentration	39.00%	42.00%	40.00%	42.00%
Middle East and Africa
Revenues from External Customers and Long-Lived Assets [Line Items]
Percentage of geographic concentration	6.00%	6.00%	5.00%	6.00%
North America
Revenues from External Customers and Long-Lived Assets [Line Items]
Percentage of geographic concentration	19.00%	15.00%	19.00%	14.00%
Middle East and Africa
Revenues from External Customers and Long-Lived Assets [Line Items]
Percentage of geographic concentration	12.00%	9.00%	11.00%	9.00%

Lease Rental Revenues and Fli47

Lease Rental Revenues and Flight Equipment Held for Lease (Details 2) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016USD ($)Lessee	Jun. 30, 2015USD ($)Lessee	Jun. 30, 2016USD ($)Lessee	Jun. 30, 2015USD ($)Lessee
Revenue attributable to individual countries
Revenue	$ 176,125	$ 184,839	$ 355,695	$ 361,985
Maintenance revenue	$ 12,514	$ 21,349	$ 13,774	$ 39,422
Major Customer Group One [Member]
Revenue from External Customer [Line Items]
Concentration Risk, Number of Customers in Major Customer Group | Lessee	4	3	4	3
Major Customer Group One [Member] | Geographic Concentration Risk | Total Revenue [Member]
Revenue attributable to individual countries
Percentage of geographic concentration	25.00%	17.00%	25.00%	18.00%

Lease Rental Revenues and Fli48

Lease Rental Revenues and Flight Equipment Held for Lease (Details 3) $ in Thousands	3 Months Ended		6 Months Ended			12 Months Ended
	Jun. 30, 2016USD ($)Aircraft	Jun. 30, 2015USD ($)	Jun. 30, 2016USD ($)Aircraft		Jun. 30, 2015USD ($)	Dec. 31, 2015Aircraft
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue | $	$ 176,125	$ 184,839	$ 355,695		$ 361,985
Maintenance Revenue | $	$ 12,514	21,349	$ 13,774		39,422
Number of Aircraft	169		169			162
Number of Offlease Aircraft Marketed for Lease or Sale						1
Number of Offlease Aircraft Marketed for Lease	3		3
Other Revenue, Net | $	$ 1,003	851	$ 1,410		2,145
INDONESIA
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue | $	$ 19,906	$ 0	$ 39,450		$ 0
Asia and Pacific
Revenues from External Customers and Long-Lived Assets [Line Items]
Number of Aircraft	59		59			64
Europe
Revenues from External Customers and Long-Lived Assets [Line Items]
Number of Aircraft	49		49			49
Middle East and Africa
Revenues from External Customers and Long-Lived Assets [Line Items]
Number of Aircraft	23		23			17
North America
Revenues from External Customers and Long-Lived Assets [Line Items]
Number of Aircraft	22		22			22
Middle East and Africa
Revenues from External Customers and Long-Lived Assets [Line Items]
Number of Aircraft	13		13			9
Geographic Concentration Risk | Total Revenue [Member] | INDONESIA
Revenues from External Customers and Long-Lived Assets [Line Items]
Percentage of geographic concentration	11.00%	0.00%	11.00%		0.00%
Geographic Concentration Risk | Net Book Value
Revenues from External Customers and Long-Lived Assets [Line Items]
Percentage of geographic concentration			100.00%			100.00%
Geographic Concentration Risk | Net Book Value | Asia and Pacific
Revenues from External Customers and Long-Lived Assets [Line Items]
Percentage of geographic concentration			24.00%			26.00%
Geographic Concentration Risk | Net Book Value | Europe
Revenues from External Customers and Long-Lived Assets [Line Items]
Percentage of geographic concentration			37.00%			39.00%
Geographic Concentration Risk | Net Book Value | Middle East and Africa
Revenues from External Customers and Long-Lived Assets [Line Items]
Percentage of geographic concentration			8.00%			6.00%
Geographic Concentration Risk | Net Book Value | North America
Revenues from External Customers and Long-Lived Assets [Line Items]
Percentage of geographic concentration			18.00%			19.00%
Geographic Concentration Risk | Net Book Value | Middle East and Africa
Revenues from External Customers and Long-Lived Assets [Line Items]
Percentage of geographic concentration			11.00%			10.00%
Geographic Concentration Risk | Net Book Value | Off Lease
Revenues from External Customers and Long-Lived Assets [Line Items]
Percentage of geographic concentration			2.00%	[1]		0.00%
[1]	Consisted of one Boeing 777-200ER aircraft that was sold during the second quarter of 2016.

Lease Rental Revenues and Fli49

Lease Rental Revenues and Flight Equipment Held for Lease (Details 4) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2016USD ($)AircraftLessee	Dec. 31, 2015USD ($)AircraftLessee
Revenues from External Customers and Long-Lived Assets [Line Items]
Property Subject to or Available for Operating Lease, Net | $	$ 5,875,935	$ 5,867,062
Number of Offlease Aircraft Marketed for Lease	3
Number of Offlease Aircraft Marketed for Lease or Sale		1
INDONESIA
Revenues from External Customers and Long-Lived Assets [Line Items]
Property Subject to or Available for Operating Lease, Net | $	$ 647,022	$ 661,178
property subject to or available for operating lease, net (percentage)	11.00%	11.00%
number of lessees | Lessee	3,000	3
Geographic Concentration Risk | Net Book Value
Revenues from External Customers and Long-Lived Assets [Line Items]
Percentage of geographic concentration	100.00%	100.00%
B-737-800 [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Number of Offlease Aircraft Marketed for Lease or Sale	2
A-330-200 [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Number of Offlease Aircraft Marketed for Lease or Sale	1

Lease Rental Revenues and Fli50

Lease Rental Revenues and Flight Equipment Held for Lease (Details Textual) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016USD ($)Lessee	Jun. 30, 2015Lessee	Jun. 30, 2016USD ($)Lessee	Jun. 30, 2015Lessee	Dec. 31, 2015USD ($)
Customer Group One
Revenue, Major Customer [Line Items]
Entity-Wide Revenue, Major Customer, Number | Lessee	4	3	4	3
Lease Rental Revenue | Customer Concentration Risk | Customer Group One
Revenue, Major Customer [Line Items]
Percentage of geographic concentration	25.00%	17.00%	25.00%	18.00%
Maintenance Payments {Member]
Revenue, Major Customer [Line Items]
Amounts of lease incentive liabilities recorded in the consolidated balance sheets | $	$ 18,045		$ 18,045		$ 21,432

Net Investment in Finance Lea51

Net Investment in Finance Leases Narrative (Details)	Jun. 30, 2016AircraftCustomer
Capital Leased Assets [Line Items]
Capital Leased Assets, Number of Units	14
United States
Capital Leased Assets [Line Items]
Capital Leased Assets, Number of Units	8
Capital Leased Assets, Number of Customers | Customer	2
CANADA
Capital Leased Assets [Line Items]
Capital Leased Assets, Number of Units	2
GERMANY
Capital Leased Assets [Line Items]
Capital Leased Assets, Number of Units	3
Capital Leased Assets, Number of Customers | Customer	2

Net Investment in Finance Lea52

Net Investment in Finance Leases Net Investment in Finance Leases (Details) $ in Thousands	Jun. 30, 2016USD ($)AircraftCustomer	Dec. 31, 2015USD ($)
Total number of aircraft owned by joint ventures | Aircraft	10
Capital Leased Assets, Number of Units | Aircraft	14
Capital Leases, Net Investment in Direct Financing Leases [Abstract]
Total lease payments to be received	$ 229,766
Less: Unearned income	(97,315)
Estimated residual values of leased flight equipment (unguaranteed)	159,452
Net investment in finance and sales-type leases	291,903	$ 201,211
2,015	21,774
2,016	39,718
2,017	32,189
2,018	32,018
2,019	30,938
Thereafter	73,129
Total	$ 229,766
GERMANY
Capital Leased Assets, Number of Customers | Customer	2
Capital Leased Assets, Number of Units | Aircraft	3
SPAIN
Capital Leased Assets, Number of Units | Aircraft	1

Unconsolidated Equity Method 53

Unconsolidated Equity Method Investment (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016USD ($)Aircraft	Jun. 30, 2015USD ($)	Jun. 30, 2016USD ($)Aircraft	Jun. 30, 2015USD ($)	Dec. 31, 2015USD ($)
Unconsolidated equity method investment	$ 64,357		$ 64,357		$ 50,377
Customer Advances and Deposits	490,521		490,521		370,281
Earnings of unconsolidated equity method investment, net of tax	$ 2,026	$ 1,565	$ 3,585	$ 3,006
Related Party Transaction, Percentage Ownership of Company Outstanding Shares	10.00%		10.00%
Proceeds from Sale of Flight Equipment			$ 339,507	$ 231,842
Total number of aircraft owned by joint ventures | Aircraft	10		10
IBJL [Member]
Equity Method Investment, Ownership Percentage	25.00%		25.00%
Equity Method Investee | OTTP
Unconsolidated equity method investment	$ 64,357		$ 64,357		$ 50,377
Equity Method Investment, Ownership Percentage	30.00%		30.00%
Equity Method Investments Before Earnings			$ 12,424
Earnings of unconsolidated equity method investment, net of tax			3,585
Distributions from unconsolidated equity method investment in excess of earnings			(2,029)
Proceeds from Sale of Flight Equipment			100,000
Maintenance Payments {Member] | Equity Method Investee | OTTP
Customer Advances and Deposits	$ 7,705		7,705
security deposit [Member] | Equity Method Investee | OTTP
Customer Advances and Deposits	$ 5,100		$ 5,100
A-320-200 [Member] | Equity Method Investee | OTTP
Number of Aircraft Sold | Aircraft			4
A-320-200 [Member] | Equity Method Investee | IBJL [Member]
Number of Aircraft Sold | Aircraft			1

Variable Interest Entities (Det

Variable Interest Entities (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2016USD ($)AircraftTerm_LoanEntity	Dec. 31, 2015USD ($)
Variable Interest Entity [Line Items]
Borrowings from secured financings	$ 1,078,823	$ 1,146,238
Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Number of Consolidated Variable Interest Entities | Entity	5
Number of Aircrafts | Aircraft	7
Air Knight VIEs | Variable Interest Entity, Primary Beneficiary | ECA Term Financings {Member]
Variable Interest Entity [Line Items]
Type of term loans | Term_Loan	7
Debt instrument, term	12 years
Net book value of flight equipment held for lease	$ 526,343
Consolidated debt outstanding	$ 315,731

Secured and Unsecured Debt Fi55

Secured and Unsecured Debt Financings (Details) $ in Thousands		6 Months Ended
		Jun. 30, 2016USD ($)Aircraftloan	Jun. 30, 2015USD ($)	Jun. 17, 2016USD ($)Aircraft	Mar. 29, 2016USD ($)	Dec. 31, 2015USD ($)
Debt Instrument [Line Items]
Number of Floating Rate Loans | loan		6
Repayments of Long-term Debt		$ 459,021	$ 319,994
Outstanding amounts of secured and unsecured term debt financings
Borrowings from secured financings		$ 1,078,823				$ 1,146,238
Number of Aircraft Financed | Aircraft		27
Borrowings from unsecured financings, net of debt issuance costs		$ 3,283,971				2,894,918
Total secured and unsecured debt financings		4,362,794				4,041,156
Line of Credit | Revolving Credit Facility [Member]
Outstanding amounts of secured and unsecured term debt financings
Borrowings from unsecured financings, net of debt issuance costs						225,000
ACS 2016 [Member] | Secured Debt
Debt Instrument [Line Items]
Debt Instrument, Face Amount				$ 400,450
Total Number of Aircraft Securing Financing | Aircraft				17
Incremental Number of Aircraft Available to Secure Debt Instrument | Aircraft				2
Incremental Financing Available Under Debt instrument		67,550
Outstanding amounts of secured and unsecured term debt financings
Borrowings from secured financings		$ 167,310
Number of Aircraft Financed | Aircraft		7
2013 Revolving Credit Facility | Line of Credit | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of credit facility, current borrowing capacity					$ 675,000	600,000
Outstanding amounts of secured and unsecured term debt financings
Line of Credit Facility, Fair Value of Amount Outstanding		$ 0
Securitization No. 2 | Secured Debt
Outstanding amounts of secured and unsecured term debt financings
Borrowings from secured financings		$ 0				125,366
Number of Aircraft Financed | Aircraft		0
Interest rate	[1]	0.00%
ECA Term Financings {Member] | Secured Debt
Outstanding amounts of secured and unsecured term debt financings
Number of Aircraft Financed | Aircraft		7
ECA Term Financings {Member] | Notes Payable, Other Payables
Outstanding amounts of secured and unsecured term debt financings
Borrowings from secured financings		$ 326,004				404,491
Minimum effective interest rate	[1]	3.0153%
Maximum effective interest rate	[1]	3.96%
Bank Financings | Secured Debt
Outstanding amounts of secured and unsecured term debt financings
Number of Aircraft Financed | Aircraft		20
Bank Financings | Notes Payable to Banks
Outstanding amounts of secured and unsecured term debt financings
Borrowings from secured financings		$ 774,903				636,970
Minimum effective interest rate	[1]	1.4471%
Maximum effective interest rate	[1]	5.085%
Secured Debt
Outstanding amounts of secured and unsecured term debt financings
Debt Issuance Cost		$ (22,084)				(20,589)
Senior Notes Due 2017 | Senior Notes
Outstanding amounts of secured and unsecured term debt financings
Borrowings from unsecured financings, net of debt issuance costs		$ 500,000				500,000
Interest rate	[1]	6.75%
Senior Notes Due 2018 with 4.625 Interest Rate | Senior Notes
Outstanding amounts of secured and unsecured term debt financings
Borrowings from unsecured financings, net of debt issuance costs		$ 400,000				400,000
Interest rate	[1]	4.625%
Senior Notes Due 2019 | Senior Notes
Outstanding amounts of secured and unsecured term debt financings
Borrowings from unsecured financings, net of debt issuance costs		$ 500,000				500,000
Interest rate	[1]	6.25%
Senior Notes Due 2020 | Senior Notes
Outstanding amounts of secured and unsecured term debt financings
Borrowings from unsecured financings, net of debt issuance costs		$ 300,000				300,000
Interest rate	[1]	7.625%
Senior Notes due 2021 | Senior Notes
Outstanding amounts of secured and unsecured term debt financings
Borrowings from unsecured financings, net of debt issuance costs		$ 500,000				500,000
Interest rate	[1]	5.125%
Senior Notes Due 2022 [Member] | Senior Notes
Outstanding amounts of secured and unsecured term debt financings
Borrowings from unsecured financings, net of debt issuance costs		$ 500,000				500,000
Interest rate	[1]	5.50%
Senior Notes Due 2023 [Member] | Senior Notes
Outstanding amounts of secured and unsecured term debt financings
Borrowings from unsecured financings, net of debt issuance costs		$ 500,000				0
Interest rate	[1]	5.00%
Floating Rate Term Loan [Member] | Floating Rate Term Loan [Member]
Outstanding amounts of secured and unsecured term debt financings
Borrowings from unsecured financings, net of debt issuance costs		$ 120,000				0
Interest rate	[1]	2.6525%
Unsecured Debt
Outstanding amounts of secured and unsecured term debt financings
Debt Issuance Cost		$ (36,029)				$ (30,082)
London Interbank Offered Rate (LIBOR) [Member] | Securitization No. 2 | Secured Debt
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate		75.00%
[1]	Reflects the floating rate in effect at the applicable reset date plus the margin for our DBJ Term Loan, six of our Bank Financings and our Revolving Credit Facility. All other financings have a fixed rate.

Secured and Unsecured Debt Fi56

Secured and Unsecured Debt Financings (Details 1) - USD ($) $ in Thousands		3 Months Ended	6 Months Ended
		Jun. 30, 2016	Jun. 30, 2016	Jun. 30, 2015	Mar. 29, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Repayments of Long-term Debt			$ 459,021	$ 319,994
Borrowings from unsecured financings, net of debt issuance costs		$ 3,283,971	$ 3,283,971			$ 2,894,918
Secured Debt | Securitization No. 2
Debt Instrument [Line Items]
Repayments of Debt		$ 66,262
Interest rate	[1]	0.00%	0.00%
Secured Debt | Securitization No. 2 | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate			75.00%
Notes Payable, Other Payables | ECA Term Financings {Member]
Debt Instrument [Line Items]
Debt, Weighted Average Interest Rate		3.53%	3.53%
Notes Payable, Other Payables | Bank Financings
Debt Instrument [Line Items]
Debt, Weighted Average Interest Rate		3.21%	3.21%
Notes Payable to Banks | Bank Financings, Floating Rate [Member] | A330-300 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 120,000	$ 120,000
Senior Notes | Senior Notes Due 2020
Debt Instrument [Line Items]
Interest rate	[1]	7.625%	7.625%
Borrowings from unsecured financings, net of debt issuance costs		$ 300,000	$ 300,000			300,000
Senior Notes | Senior Notes due 2021
Debt Instrument [Line Items]
Interest rate	[1]	5.125%	5.125%
Borrowings from unsecured financings, net of debt issuance costs		$ 500,000	$ 500,000			500,000
Senior Notes | Senior Notes Due 2022 [Member]
Debt Instrument [Line Items]
Interest rate	[1]	5.50%	5.50%
Borrowings from unsecured financings, net of debt issuance costs		$ 500,000	$ 500,000			500,000
Line of Credit | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Borrowings from unsecured financings, net of debt issuance costs						225,000
Line of Credit | 2013 Revolving Credit Facility | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of credit facility, current borrowing capacity					$ 675,000	$ 600,000
Line of Credit Facility, Fair Value of Amount Outstanding		$ 0	$ 0
Senior Notes Due 2022 [Member] | Senior Notes Due 2022 [Member]
Debt Instrument [Line Items]
Interest rate		5.00%	5.00%
Borrowings from unsecured financings, net of debt issuance costs		$ 500,000	$ 500,000
Debt Instrument, Redemption, Period One [Member] | Senior Notes Due 2022 [Member] | Senior Notes Due 2022 [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate			5000.00%
Debt Instrument, Redemption Price, Percentage			105.00%
Debt Instrument, Redemption, Period Two [Member] | Senior Notes Due 2022 [Member] | Senior Notes Due 2022 [Member]
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage			101.00%
Maximum | Debt Instrument, Redemption, Period One [Member] | Senior Notes Due 2022 [Member] | Senior Notes Due 2022 [Member]
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage of Principal Amount Redeemed			100.00%
Maximum | Debt Instrument, Redemption, Period Two [Member] | Senior Notes Due 2022 [Member] | Senior Notes Due 2022 [Member]
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage of Principal Amount Redeemed			40.00%
[1]	Reflects the floating rate in effect at the applicable reset date plus the margin for our DBJ Term Loan, six of our Bank Financings and our Revolving Credit Facility. All other financings have a fixed rate.

Shareholders' Equity and Shar57

Shareholders' Equity and Share Based Payment Schedule of Performance Award Ranges (Details)	6 Months Ended
	Jun. 30, 2016shares
Minimum
ScheduleofPerformanceBasedAwardRanges [Line Items]
NumberofPerformanceBasedShares	0
Target
ScheduleofPerformanceBasedAwardRanges [Line Items]
NumberofPerformanceBasedShares	267,910
Maximum
ScheduleofPerformanceBasedAwardRanges [Line Items]
NumberofPerformanceBasedShares	535,820
TSRPerformanceBasedShares [Member] | Minimum
ScheduleofPerformanceBasedAwardRanges [Line Items]
NumberofPerformanceBasedShares	0
TSRPerformanceBasedShares [Member] | Target
ScheduleofPerformanceBasedAwardRanges [Line Items]
NumberofPerformanceBasedShares	133,957
TSRPerformanceBasedShares [Member] | Maximum
ScheduleofPerformanceBasedAwardRanges [Line Items]
NumberofPerformanceBasedShares	267,914
AROEPerformanceBasedShares [Member] | Minimum
ScheduleofPerformanceBasedAwardRanges [Line Items]
NumberofPerformanceBasedShares	0
AROEPerformanceBasedShares [Member] | Target
ScheduleofPerformanceBasedAwardRanges [Line Items]
NumberofPerformanceBasedShares	133,953
AROEPerformanceBasedShares [Member] | Maximum
ScheduleofPerformanceBasedAwardRanges [Line Items]
NumberofPerformanceBasedShares	267,906

Shareholders' Equity and Shar58

Shareholders' Equity and Share Based Payment (Details)	6 Months Ended
	Jun. 30, 2016$ / sharesshares
AROEPerformanceBasedShares [Member]
Grant date Fair Value for Shares Expected To Vest | $ / shares	$ 19.17
Shares Expected to Vest | shares	44,651
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Non-vested beginning balance | shares	0
Granted | shares	44,651
Non-vested ending balance | shares	44,651
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments, Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Beginning Period, Weighted average grant date fair value | $ / shares	$ 0
Weighted average grant date fair value, Non-vested shares granted | $ / shares	19.17
Ending Period, Weighted average grant date fair value | $ / shares	19.17
TSRPerformanceBasedShares [Member]
Grant date Fair Value for Shares Expected To Vest | $ / shares	$ 25.20
Shares Expected to Vest | shares	133,957
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Non-vested beginning balance | shares	0
Granted | shares	133,957
Non-vested ending balance | shares	133,957
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments, Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Beginning Period, Weighted average grant date fair value | $ / shares	$ 0
Weighted average grant date fair value, Non-vested shares granted | $ / shares	25.20
Ending Period, Weighted average grant date fair value | $ / shares	$ 25.20

Shareholders' Equity and Shar59

Shareholders' Equity and Share Based Payment Shareholders' Equity and Share Based Payment (Details Textual) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-cash share based payment expense	$ 2,094	$ 1,387	$ 3,737	$ 2,557
Stock Repurchased During Period, Value			$ 31,704
Stock Repurchased During Period, Shares			1,683,713
Remaining authorized repurchase amount	$ 99,375		$ 99,375
Common shares, par value	$ 0.01		$ 0.01		$ 0.01
Percentage Ownership of Aircastle's Outstanding Shares	10.00%		10.00%
TSRPerformanceBasedShares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number	133,957		133,957		0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value	$ 25.20		$ 25.20		$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period			133,957
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value			$ 25.20
Shares Expected to Vest	133,957		133,957
Grant date Fair Value for Shares Expected To Vest	$ 25.20		$ 25.20
TSRPerformanceBasedShares [Member] | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage			0.00%
TSRPerformanceBasedShares [Member] | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage			200.00%
Total Performance-Based Shares Granted [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period			178,608
AROEPerformanceBasedShares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number	44,651		44,651		0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value	$ 19.17		$ 19.17		$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period			44,651
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value			$ 19.17
AROE Performance-Based Shares not yet Granted			89,302
Shares Expected to Vest	44,651		44,651
Grant date Fair Value for Shares Expected To Vest	$ 19.17		$ 19.17
AROEPerformanceBasedShares [Member] | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage			0.00%
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-cash share based payment expense			$ 452
Employee service share-based compensation, nonvested awards, compensation cost not yet recognized	$ 3,780		$ 3,780
Employee service share-based compensation, nonvested awards, compensation cost not yet recognized, period for recognition			2 years 184 days

Dividends (Details)

Dividends (Details) - USD ($) $ / shares in Units, $ in Thousands	May 02, 2016	Feb. 09, 2016	Oct. 30, 2015	Aug. 04, 2015	May 04, 2015	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Dividends [Abstract]
Dividend per Common Share	$ 0	$ 0	$ 0	$ 0.0022	$ 0.0022	$ 0.24	$ 0.22	$ 0.48	$ 0.44
Aggregate Dividend Amount	$ 18,915	$ 18,915	$ 19,377	$ 17,860	$ 17,863

Earnings Per Share (Details)

Earnings Per Share (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Weighted-average shares:
Common shares outstanding	78,159,280	80,566,400	78,351,369	80,565,425
Restricted common shares	685,918	650,206	629,137	583,213
Total Weighted Average Shares	78,845,198	81,216,606	78,980,506	81,148,638
Percentage of weighted-average shares:
Common shares outstanding	99.13%	99.20%	99.20%	99.28%
Restricted common shares	0.87%	0.80%	0.80%	0.72%
Total	100.00%	100.00%	100.00%	100.00%

Earnings Per Share (Details 1)

Earnings Per Share (Details 1) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Earnings Per Share [Abstract]
Participating Securities, Distributed and Undistributed Earnings of Net Income, Percent		0.87%	0.80%	0.80%	0.72%
Earnings per share – Basic:
Net income		$ 20,030	$ 41,808	$ 56,292	$ 85,077
Participating Securities, Distributed and Undistributed Earnings (Loss), Basic	[1]	174	335	448	611
Earnings available to common shareholders – Basic		$ 19,856	$ 41,473	$ 55,844	$ 84,466
Weighted-average common shares outstanding – Basic		78,159,280	80,566,400	78,351,369	80,565,425
Earnings per common share – Basic		$ 0.25	$ 0.51	$ 0.71	$ 1.05
Earnings per share – Diluted:
Net income		$ 20,030	$ 41,808	$ 56,292	$ 85,077
Earnings available to common shareholders – Diluted		$ 19,856	$ 41,473	$ 55,844	$ 84,466
Weighted-average common shares outstanding – Basic		78,159,280	80,566,400	78,351,369	80,565,425
Effect of dilutive shares(2)	[2]	0	0	0	0
Weighted-average common shares outstanding – Diluted		78,159,280	80,566,400	78,351,369	80,565,425
Earnings per common share – Diluted		$ 0.25	$ 0.51	$ 0.71	$ 1.05
[1]	For the three months ended June 30, 2016 and 2015, distributed and undistributed earnings to restricted shares are 0.87% and 0.80%, respectively, of net income. For the six months ended June 30, 2016 and 2015, distributed and undistributed earnings to restricted shares are 0.80% and 0.72% of net income, respectively. The amount of restricted share forfeitures for all periods present is immaterial to the allocation of distributed and undistributed earnings
[2]	For the three and six months ended June 30, 2016 and 2015, we had no dilutive shares

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Sources of income from continuing operations before income taxes
U.S. operations	$ 1,158	$ 840	$ 1,744	$ 1,220
Non-U.S. operations	19,231	43,868	57,287	90,179
Income from continuing operations before income taxes and earnings of unconsolidated equity method investment	$ 20,389	$ 44,708	$ 59,031	$ 91,399

Income Taxes (Details 1)

Income Taxes (Details 1) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Income Tax Statutory Rate [Line Items]
Participating Securities, Distributed and Undistributed Earnings of Net Income, Percent	0.87%	0.80%	0.80%	0.72%
Analysis of effective income tax rate for continuing operations
Notional U.S. federal income tax expense at the statutory rate	$ 7,136	$ 15,648	$ 20,661	$ 31,990
U.S. state and local income tax, net	78	68	125	110
Non-deductible expenses in the U.S.	150	191	285	361
Other	(15)	(13)	(24)	(21)
Income tax provision	2,385	4,465	6,324	9,328
Bermuda
Analysis of effective income tax rate for continuing operations
Non-U.S. operations:			(10,662)	(15,895)
Ireland
Analysis of effective income tax rate for continuing operations
Non-U.S. operations:			2,073	(2,907)
Other
Analysis of effective income tax rate for continuing operations
Non-U.S. operations:			(2,083)	(1,579)
Singapore | Foreign Tax Authority
Analysis of effective income tax rate for continuing operations
Non-U.S. operations:	(2,716)	(1,375)	$ (4,051)	$ (2,731)
Other | Foreign Tax Authority
Analysis of effective income tax rate for continuing operations
Non-U.S. operations:	(872)	(901)
Ireland | Foreign Tax Authority
Analysis of effective income tax rate for continuing operations
Non-U.S. operations:	194	(1,785)
Bermuda | Foreign Tax Authority
Analysis of effective income tax rate for continuing operations
Non-U.S. operations:	$ (1,570)	$ (7,368)

Income Taxes Income Taxes (Text

Income Taxes Income Taxes (Textual) (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Income Tax Disclosure [Abstract]
Effective Income Tax Rate, Continuing Operations	11.70%	10.00%	10.70%	10.20%

Interest, Net (Details)

Interest, Net (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Interest Income (Expense), Net [Abstract]
Interest on borrowings, net settlements on interest rate derivatives, and other liabilities(1)	$ 55,779	$ 51,413	$ 109,103	$ 101,648
Gain (Loss) on Cash Flow Hedge Ineffectiveness, Net	0	(294)	0	(294)
Cash flow hedges reclassified into earnings	2,997	6,110	8,369	14,343
Amortization of deferred financing costs	3,863	3,766	9,470	7,465
Interest expense	62,639	61,583	126,942	123,750
Less interest income	(160)	(32)	(222)	(68)
Interest Costs Capitalized	(27)	0	(27)	0
Interest, net	62,452	$ 61,551	126,693	$ 123,682
Loss on Contract Termination	0		1,509
Write off of Deferred Debt Issuance Cost	$ 0		$ 1,972

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2015Aircraft	Jun. 30, 2016USD ($)Aircraft
Types of Commercial Aircraft [Line Items]
Long-term Purchase Commitment, Minimum Quantity Required | Aircraft	25
Purchase Obligation, Future Minimum Payments, Remainder of Fiscal Year		$ 319,311
Unrecorded Unconditional Purchase Obligation, Minimum Quantity Required | Aircraft		37
Purchase Obligation, Due in Second Year		$ 170,253
Purchase Obligation, Due in Third Year		258,179
Purchase Obligation, Due in Fourth Year		293,756
Purchase Obligation, Due in Fifth Year		216,847
Purchase Obligation, Due after Fifth Year		142,194
Purchase Obligation		1,400,540
Pre-Delivery Payments [Member]
Types of Commercial Aircraft [Line Items]
Purchase Obligation		$ 141,957

Other Assets (Details)

Other Assets (Details) $ in Thousands	3 Months Ended
	Jun. 30, 2016USD ($)Aircraft	Dec. 31, 2015USD ($)
Principal components of other assets
Deferred federal income tax asset	$ 791	$ 1,362
Lease incentives and lease premiums, net of amortization of $35,151 and $31,623, respectively	83,109	86,874
Disposal Group, Including Discontinued Operation, Property, Plant and Equipment	43,016	12,901
Other assets	37,613	22,570
Total other assets	164,529	123,707
Amortization of lease incentives and lease premiums	$ 35,151	$ 31,623
Transactional [Member] | B747-400 Converted Freighter [Member]
Number of Aircraft Impaired | Aircraft	2

Accounts Payable, Accrued Exp69

Accounts Payable, Accrued Expenses and Other Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Payables and Accruals [Abstract]
Accounts payable and accrued expenses	$ 36,080	$ 34,457
Deferred federal income tax liability	36,940	35,269
Accrued interest payable	43,674	37,606
Lease discounts, net of amortization of $24,213 and $19,403, respectively	18,669	22,443
Derivative Liability	0	1,283
Total accounts payable, accrued expenses and other liabilities	135,363	131,058
Deferred Revenue, Leases, Accumulated Amortization	$ 24,213	$ 19,403

Accumulated Other Comprehensi70

Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015		Jun. 30, 2016	Jun. 30, 2015		Dec. 31, 2015
Accumulated Other Comprehensive Income (Loss) [Line Items]
Derivative Liability	$ 0			$ 0			$ 1,283
Accumulated Other Comprehensive Income [Roll Forward]
Beginning balance				(13,213)
Net current period other comprehensive income	2,997	$ 6,674		8,368	$ 14,779
Ending balance	(4,845)			(4,845)
Tax Expense from Amount Recognized in Other Comprehensive Income Related to Derivatives	0	26		0	23
Interest Expense	62,639	61,583		126,942	123,750
Terminated Interest Rate Contract [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Interest Rate, Designated Derivatives, Deferred Gain or Loss Expected to be Amortized In Next Twelve Months				2,449
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges Amortization [Member] | Interest Rate Contract | Reclassification out of Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income [Roll Forward]
Interest Expense	2,997	6,110		8,369	14,343
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | Interest Rate Contract
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	(188)	(317)		(690)	(1,395)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	3,185	6,991		9,058	16,174
Accumulated Other Comprehensive Income [Roll Forward]
Beginning balance	(7,842)	(30,355)		(13,213)	(38,460)
Net current period other comprehensive income	2,997	6,674	[1]	8,368	14,779	[1]
Ending balance	(4,845)	(23,681)		(4,845)	(23,681)
Tax Expense from Amount Recognized in Other Comprehensive Income Related to Derivatives	0	14		0	0
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | Interest Rate Contract | Reclassification out of Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income (Loss) [Line Items]
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	3,185	6,991		9,058	16,174
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges, Net Settlements | Interest Rate Contract | Reclassification out of Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income [Roll Forward]
Tax Expense from Amount Reclassified from Accumulated Other Comprehensive Income into Income	0	12		0	23
Interest Expense	$ 188	$ 881		$ 689	$ 1,831
[1]	All amounts are net of tax. Amounts in parentheses indicate debits.