e10vq

0000950123-11-076171.txt : 20110811 0000950123-11-076171.hdr.sgml : 20110811 20110811162838 ACCESSION NUMBER: 0000950123-11-076171 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 11 CONFORMED PERIOD OF REPORT: 20110630 FILED AS OF DATE: 20110811 DATE AS OF CHANGE: 20110811 FILER: COMPANY DATA: COMPANY CONFORMED NAME: INTERNATIONAL LEASE FINANCE CORP CENTRAL INDEX KEY: 0000714311 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-EQUIPMENT RENTAL & LEASING, NEC [7359] IRS NUMBER: 223059110 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-31616 FILM NUMBER: 111028095 BUSINESS ADDRESS: STREET 1: 10250 CONSTELLATION BLVD. STREET 2: SUITE 3400 CITY: LOS ANGELES STATE: CA ZIP: 90067 BUSINESS PHONE: 3107881999 MAIL ADDRESS: STREET 1: 10250 CONSTELLATION BLVD. STREET 2: SUITE 3400 CITY: LOS ANGELES STATE: CA ZIP: 90067 10-Q 1 v59547e10vq.htm FORM 10-Q e10vq

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

QUARTERLY REPORT


þ		QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2011


o		TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission file number 001-31616

INTERNATIONAL LEASE FINANCE CORPORATION

(Exact name of registrant as specified in its charter)


California		22-3059110
(State or other jurisdiction of		(I.R.S. Employer
incorporation or organization)		Identification No.)

10250 Constellation Blvd., Suite 3400
Los Angeles, California		90067
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code: (310) 788-1999

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes þ No o

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes þ No o

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):


Large accelerated filer o	Accelerated filer o	Non-accelerated filer þ	Smaller reporting company o
		(Do not check if a smaller reporting company)

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes o No þ

As of August 10, 2011, there were 45,267,723 shares of Common Stock, no par value, outstanding.

Registrant meets the conditions set forth in General Instruction H(1)(a) and (b) of Form 10-Q and is therefore filing this form with the reduced disclosure format.

INTERNATIONAL LEASE FINANCE CORPORATION AND SUBSIDIARIES
FORM 10-Q QUARTERLY REPORT

TABLE OF CONTENTS


	Page
Table of Definitions		3
Part I. Financial Information
Item 1. Financial Statements (Unaudited)		4
Condensed, Consolidated Balance Sheets June 30, 2011 and December 31, 2010		4
Condensed, Consolidated Statements of Income Three months ended June 30, 2011 and 2010		5
Condensed, Consolidated Statements of Income Six months ended June 30, 2011 and 2010		5
Condensed, Consolidated Statements of Comprehensive Income Three months ended June 30, 2011 and 2010.		6
Condensed, Consolidated Statements of Comprehensive Income Six months ended June 30, 2011 and 2010		6
Condensed, Consolidated Statements of Cash Flows Six months ended June 30, 2011 and 2010		7
Notes to Condensed, Consolidated Financial Statements		9
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations		33
Item 3. Quantitative and Qualitative Disclosures about Market Risk		54
Item 4. Controls and Procedures		55
Part II. Other Information
Item 1. Legal Proceedings		56
Item 1A. Risk Factors		56
Item 6. Exhibits		63
Signatures		64
EX-12
EX-31.1
EX-31.2
EX-32.1
EX-101 INSTANCE DOCUMENT
EX-101 SCHEMA DOCUMENT
EX-101 CALCULATION LINKBASE DOCUMENT
EX-101 LABELS LINKBASE DOCUMENT
EX-101 PRESENTATION LINKBASE DOCUMENT
EX-101 DEFINITION LINKBASE DOCUMENT

-2-

TABLE OF DEFINITIONS


AIG		American International Group, Inc.
AIG Funding		AIG Funding, Inc.
AIGFP		AIG Financial Products Corp.
Airbus		Airbus S.A.S.
AOCI		Accumulated other comprehensive income
AVG		Asset Value Guarantee
Boeing		The Boeing Company
The Company, ILFC, we, our, us		International Lease Finance Corporation
CVA		Credit Value Adjustment
Department of the Treasury		United States Department of the Treasury
ECA		Export Credit Agency
FASB		Financial Accounting Standards Board
Fitch		Fitch Ratings, Inc.
FRBNY		Federal Reserve Bank of New York
FRBNY Credit Agreement		The credit agreement, dated as of September 22, 2008, as amended, between AIG and the FRBNY
GAAP		Generally Accepted Accounting Principles in the United States of America
IASB		International Accounting Standards Board
IFRS		International Financial Reporting Standards
Master Transaction Agreement		Master Transaction Agreement, entered into by AIG on December 8, 2010, with the Department of the Treasury
Moody’s		Moody’s Investor Service, Inc.
MVA		Market Value Adjustment
OCI		Other comprehensive income
SEC		U.S. Securities and Exchange Commission
S&P		Standard and Poor’s, a division of The McGraw-Hill Companies, Inc.
SPE		Special Purpose Entity
TARP		Troubled Asset Relief Program
VaR		Value at Risk
VIEs		Variable Interest Entities
Volare		Estate of Volare Airlines
WKSI		Well Known Seasoned Issuer

-3-

PART I. FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

INTERNATIONAL LEASE FINANCE CORPORATION AND SUBSIDIARIES

CONDENSED, CONSOLIDATED BALANCE SHEETS

(Dollars in thousands, except share and per share amounts)
(Unaudited)


	June 30,			December 31,
	2011			2010
ASSETS
Cash and cash equivalents, including interest bearing accounts of $2,126,626 (2011) and $3,058,747 (2010)	$	2,138,483		$	3,067,697
Restricted cash, including interest bearing accounts of $421,040 (2011) and $402,373 (2010)		421,040			457,053
Notes receivable, net of allowance, and net investment in finance and sales-type leases		86,260			132,685
Flight equipment under operating leases		51,603,074			51,646,586
Less accumulated depreciation		13,891,697			13,120,421

		37,711,377			38,526,165
Flight equipment held for sale		5,220			255,178
Deposits on flight equipment purchases		223,700			184,410
Lease receivables and other assets		392,017			402,932
Derivative assets, net		206,904			60,150
Deferred debt issue costs, less accumulated amortization of $217,078 (2011) and $181,460 (2010)		296,609			232,576

	$	41,481,610		$	43,318,846

LIABILITIES AND SHAREHOLDERS’ EQUITY
Accrued interest and other payables	$	660,899		$	689,606
Current income taxes		117,571			108,898
Secured debt financing, net of deferred debt discount of $19,901 (2011) and $22,309 (2010)		9,331,699			9,556,634
Unsecured debt financing, net of deferred debt discount of $42,977 (2011) and $47,977 (2010)		15,034,585			16,997,466
Subordinated debt		1,000,000			1,000,000
Foreign currency adjustment related to foreign currency denominated debt		281,600			165,400
Security deposits, overhaul rental and other customer deposits		1,682,140			1,620,784
Rentals received in advance		269,455			284,115
Deferred income taxes		4,712,652			4,663,939
Commitments and Contingencies — Note M
SHAREHOLDERS’ EQUITY
Market Auction Preferred Stock, $100,000 per share liquidation value; Series A and B, each having 500 shares issued and outstanding		100,000			100,000
Common stock — no par value; 100,000,000 authorized shares, 45,267,723 issued and outstanding		1,053,582			1,053,582
Paid-in capital		599,133			606,367
Accumulated other comprehensive income (loss)		(38,792	)		(58,944	)
Retained earnings		6,677,086			6,530,999

Total shareholders’ equity		8,391,009			8,232,004

	$	41,481,610		$	43,318,846

See notes to condensed, consolidated financial statements.

-4-

INTERNATIONAL LEASE FINANCE CORPORATION AND SUBSIDIARIES

CONDENSED, CONSOLIDATED STATEMENTS OF INCOME

FOR THE THREE MONTHS ENDED JUNE 30, 2011 AND 2010
(Dollars in thousands)
(Unaudited)


	June 30, 2011			June 30, 2010
REVENUES AND OTHER INCOME
Rental of flight equipment	$	1,111,453		$	1,163,811
Flight equipment marketing and gain on aircraft sales		2,176			42
Interest and other		11,903			8,791

		1,125,532			1,172,644

EXPENSES
Interest		407,069			407,708
Effect from derivatives, net of change in hedged items due to changes in foreign exchange rates		1,468			4,783
Depreciation of flight equipment		459,689			475,658
Aircraft impairment charges and fair value adjustments on flight equipment sold or to be disposed		43,815			53,027
Aircraft impairment charges on flight equipment held for use		—			8,148
Loss on extinguishment of debt		61,093			—
Flight equipment rent		4,500			4,500
Selling, general and administrative		43,089			40,993
Other expenses		(1,248	)		3,469

		1,019,475			998,286

INCOME BEFORE INCOME TAXES		106,057			174,358
Provision for income taxes		33,377			63,605

NET INCOME	$	72,680		$	110,753

INTERNATIONAL LEASE FINANCE CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

FOR THE SIX MONTHS ENDED JUNE 30, 2011 AND 2010
(Dollars in thousands)
(Unaudited)


	June 30, 2011		June 30, 2010
REVENUES AND OTHER INCOME
Rental of flight equipment	$	2,252,374	$	2,393,674
Flight equipment marketing and gain on aircraft sales		2,849		1,326
Interest and other		38,822		21,777

		2,294,045		2,416,777

EXPENSES
Interest		814,568		742,574
Effect from derivatives, net of change in hedged items due to changes in foreign exchange rates		2,091		44,849
Depreciation of flight equipment		912,220		965,899
Aircraft impairment charges and fair value adjustments on flight equipment sold or to be disposed		147,125		406,414
Aircraft impairment charges on flight equipment held for use		—		8,148
Loss on extinguishment of debt		61,093		—
Flight equipment rent		9,000		9,000
Selling, general and administrative		94,803		76,630
Other expenses		29,726		87,517

		2,070,626		2,341,031

INCOME BEFORE INCOME TAXES		223,419		75,746
Provision for income taxes		77,018		27,919

NET INCOME	$	146,401	$	47,827

See notes to condensed, consolidated financial statements.

-5-

INTERNATIONAL LEASE FINANCE CORPORATION AND SUBSIDIARIES

CONDENSED, CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
FOR THE THREE MONTHS ENDED JUNE 30, 2011 AND 2010
(Dollars in thousands)
(Unaudited)


	June 30, 2011		June 30, 2010
NET INCOME	$	72,680	$	110,753


OTHER COMPREHENSIVE INCOME
Net changes in fair value of cash flow hedges, net of taxes of $(4,805) (2011) and $(13,485) (2010)		8,924		25,045
Change in unrealized appreciation on securities available for sale, net of taxes of $114 (2011) and $79 (2010)		220		(147	)

		9,144		24,898

COMPREHENSIVE INCOME	$	81,824	$	135,651

INTERNATIONAL LEASE FINANCE CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

FOR THE SIX MONTHS ENDED JUNE 30, 2011 AND 2010

(Dollars in thousands)

(Unaudited)


	June 30, 2011			June 30, 2010
NET INCOME	$	146,401		$	47,827


OTHER COMPREHENSIVE INCOME
Net changes in fair value of cash flow hedges, net of taxes of $(10,965) (2011) and $(40,172) (2010)		20,363			74,606
Change in unrealized appreciation on securities available for sale, net of taxes of $114 (2011) and $66 (2010)		(211	)		(123	)

		20,152			74,483

COMPREHENSIVE INCOME	$	166,553		$	122,310

See notes to condensed, consolidated financial statements.

-6-

INTERNATIONAL LEASE FINANCE CORPORATION AND SUBSIDIARIES

CONDENSED, CONSOLIDATED STATEMENTS OF CASH FLOWS

FOR THE SIX MONTHS ENDED JUNE 30, 2011 AND 2010

(Dollars in thousands)

(Unaudited)


	June 30, 2011			June 30, 2010
OPERATING ACTIVITIES
Net income	$	146,401		$	47,827
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation of flight equipment		912,220			965,899
Deferred income taxes		37,862			19,754
Derivative instruments		(115,426	)		374,814
Foreign currency adjustment of non-US$ denominated debt		116,200			(334,720	)
Amortization of deferred debt issue costs		34,317			21,873
Amortization of debt discount		7,408			4,983
Amortization of prepaid lease costs		23,465			20,282
Aircraft impairment charges and fair value adjustments		147,125			414,562
Lease expenses related to aircraft sales		(2,437	)		89,213
Interest paid-in-kind to AIG Funding		—			28,920
Other, including foreign exchange adjustments on foreign currency denominated cash and gain on aircraft sales		(23,941	)		(24,122	)
Changes in operating assets and liabilities:
Lease receivables and other assets		(9,613	)		51,776
Accrued interest and other payables		(31,010	)		63,738
Current income taxes		8,673			4,668
Tax benefit sharing payable to AIG		—			(85,000	)
Rentals received in advance		(14,660	)		(36,847	)

Net cash provided by operating activities		1,236,584			1,627,620

INVESTING ACTIVITIES
Acquisition of flight equipment		(182,610	)		(219,450	)
Payments for deposits and progress payments		(80,195	)		(25,078	)
Proceeds from disposal of flight equipment		234,714			24,641
Restricted cash		36,013			(568,664	)
Collections on notes receivable and finance and sales-type leases		44,737			66,407
Other		(4,369	)		—

Net cash provided by (used in) investing activities		48,290			(722,144	)

FINANCING ACTIVITIES
Proceeds from debt financing		2,431,463			4,315,872
Payments in reduction of debt financing		(4,626,686	)		(2,637,564	)
Debt issue costs		(99,651	)		(100,131	)
Payment of common and preferred dividends		(314	)		(207	)
Security and rental deposits received		42,862			28,885
Security and rental deposits returned		(46,721	)		(24,608	)
Transfers of security and rental deposits on sales of aircraft		(19,391	)		—
Overhaul rentals collected		249,927			295,996
Overhaul deposits reimbursed		(170,915	)		(153,266	)
Transfer of overhauls rentals on sales of aircraft		(18,623	)		—

Net change in other deposits		42,678			6,873

Net cash (used in) provided by financing activities		(2,215,371	)		1,731,850

Net (decrease) increase in cash		(930,497	)		2,637,326
Effect of exchange rate changes on cash		1,283			(4,842	)

Cash at beginning of period		3,067,697			336,911

Cash at end of period	$	2,138,483		$	2,969,395

-7-

INTERNATIONAL LEASE FINANCE CORPORATION AND SUBSIDIARIES
CONDENSED, CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE SIX MONTHS ENDED JUNE 30, 2011 AND 2010
(Dollars in thousands)
(Unaudited)

SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION


	June 30, 2011			June 30, 2010
Cash paid during the period for:
Interest, excluding interest capitalized of $2,790 (2011) and $3,080 (2010)	$	883,434		$	642,067
Income taxes, net		30,482	(a)		3,495


(a)		Approximately $26 million was paid to AIG for ILFC tax liability.

Non-Cash Investing and Financing Activities

2011:

Flight equipment held for sale in the amount of $76,438 were reclassified to Flight equipment under operating leases in the amount of $78,673, with $2,235 realized in income when the aircraft no longer met the criteria for being classified as held for sale.

Deposits on flight equipment purchases of $50,905 were applied to Acquisition of flight equipment under operating leases.

Customer deposits of $13,103 were forfeited and recognized in income.

Flight equipment under operating leases in the amount of $5,220 were transferred to Flight equipment held for sale.

Flight equipment under operating leases in the amount of $3,050 were transferred to Lease receivables and other assets upon the part-out of an aircraft.

2010:

Flight equipment under operating leases in the amount of $2,165,077 were transferred to Flight equipment held for sale.

Net investments in finance leases of $192,161 were transferred to Flight equipment under operating leases.

Deposits on flight equipment purchases of $29,177 were applied to Acquisition of flight equipment under operating leases.

Lease receivables and other assets in the amount of $11,193 and Deposits on flight equipment purchases of $36,799 were applied to Acquisition of flight equipment under operating leases.

Flight equipment under operating leases in the amount of $3,225 were transferred to Lease receivables and other assets.

See notes to condensed, consolidated financial statements.

-8-

INTERNATIONAL LEASE FINANCE CORPORATION AND SUBSIDIARIES

NOTES TO CONDENSED, CONSOLIDATED FINANCIAL STATEMENTS

June 30, 2011
(Unaudited)

A. Basis of Preparation

ILFC is an indirect wholly-owned subsidiary of AIG. AIG is a holding company, which, through its subsidiaries, is primarily engaged in a broad range of insurance and insurance-related activities in the United States and abroad. The accompanying unaudited, condensed, consolidated financial statements have been prepared in accordance with GAAP for interim financial information and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements.

The accompanying unaudited, condensed, consolidated financial statements include our accounts and accounts of all other entities in which we have a controlling financial interest. See Note N — Variable Interest Entities for further discussions on VIEs. All material intercompany accounts have been eliminated in consolidation.

Results for the three and six month periods ended June 30, 2011 include an out of period adjustment related to prior quarters and years which increased pre-tax income by $8.1 million and $8.3 million, respectively. The out of period adjustment relates principally to the forfeiture of share-based deferred compensation awards for certain employees who terminated their employment with us in 2010. Management has determined, after evaluating the quantitative and qualitative aspects of this out of period adjustment, that our current and prior period financial statements are not materially misstated and will not be material to our estimated results of operations for the year ended December 31, 2011.

In the opinion of management, all adjustments considered necessary for a fair statement of the results for the interim periods presented have been included. Certain reclassifications have been made to the 2010 unaudited, condensed, consolidated financial statements to conform to the 2011 presentation. Operating results for the six months ended June 30, 2011, are not necessarily indicative of the results that may be expected for the year ending December 31, 2011. These statements should be read in conjunction with the consolidated financial statements and footnotes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2010.

B. Recent Accounting Pronouncements

We did not adopt any new accounting standards during the first six months of 2011.

Future Application of Accounting Standards:

A Creditor’s Determination of Whether a Restructuring is a Troubled Debt Restructuring

In April 2011, the FASB issued an accounting standard update that amends the guidance for a creditor’s evaluation of whether a restructuring is a troubled debt restructuring and requires additional disclosures about a creditor’s troubled debt restructuring activities. The new standard clarifies the existing guidance on the two criteria used by creditors to determine whether a modification or restructuring is a troubled debt restructuring: (i) whether the creditor has granted a concession and (ii) whether the debtor is experiencing financial difficulties. The new standard is effective for interim and annual periods beginning on July 1, 2011, with early adoption permitted. We are required to apply the guidance in the accounting standard retrospectively for all modifications and restructuring activities that have occurred since January 1, 2011. For receivables that are considered newly impaired under the guidance, we are required to measure the impairment of those receivables prospectively in the first period of adoption. In addition, we must begin providing the disclosures about troubled debt restructuring activities in the period of adoption. We are currently assessing the effect of adoption of this new standard on our consolidated financial position, results of operations and cash flows.

-9-

INTERNATIONAL LEASE FINANCE CORPORATION AND SUBSIDIARIES
NOTES TO CONDENSED, CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
June 30, 2011
(Unaudited)

Common Fair Value Measurements and Disclosure Requirements in GAAP and IFRS

In May 2011, the FASB issued an accounting standard update that amends certain aspects of the fair value measurement guidance in GAAP, primarily to achieve the FASB’s objective of a converged definition of fair value and substantially converged measurement and disclosure guidance with IFRS. Consequently, when the new standard becomes effective on January 1, 2012, GAAP and IFRS will be consistent, with certain exceptions including the accounting for day one gains and losses, measuring the fair value of alternative investments measured on a net asset value basis and certain disclosure requirements.

The new standard’s fair value guidance applies to all companies that measure assets, liabilities, or instruments classified in shareholders’ equity at fair value or provide fair value disclosures for items not recorded at fair value. While many of the amendments to GAAP are not expected to significantly affect current practice, the guidance clarifies how a principal market is determined, addresses the fair value measurement of financial instruments with offsetting market or counterparty credit risks and the concept of valuation premise (i.e., in-use or in exchange) and highest and best use, extends the prohibition on blockage factors to all three levels of the fair value hierarchy, and requires additional disclosures.

The new standard is effective for us for interim and annual periods beginning on January 1, 2012. If different fair value measurements result from applying the new standard, we will recognize the difference in the period of adoption as a change in estimate. The new disclosure requirements must be applied prospectively. In the period of adoption, we will disclose any changes in valuation techniques and related inputs resulting from application of the amendments and quantify the total effect, if material. We are assessing the effect of the new standard on our consolidated statements of financial position, results of operations and cash flows.

Presentation of Comprehensive Income

In June 2011, the FASB issued an accounting standard update that requires the presentation of comprehensive income either in a single continuous statement of comprehensive income or in two separate but consecutive statements. In the two-statement approach, the first statement should present total net income and its components, followed consecutively by a second statement that presents total other comprehensive income and its components. This presentation is effective January 1, 2012, and is required to be applied retrospectively. Early adoption is permitted. Adoption of the new standard will have no effect on our consolidated financial statements because we already use the two-statement approach to present comprehensive income.

C. Restricted Cash

We entered into ECA facility agreements in 1999 and 2004 through subsidiaries. See Note G — Debt Financings. We had no loans outstanding under the 1999 ECA facility as of June 30, 2011. Because of our current long-term debt ratings, the 2004 ECA facility requires us to segregate security deposits, overhaul rentals and rental payments received under the leases of the aircraft funded under the 2004 ECA facility (segregated rental payments are used to make scheduled principal and interest payments on the outstanding debt). The segregated funds are deposited into separate accounts pledged to and controlled by the security trustee of the 2004 ECA facility. At June 30, 2011, we had segregated security deposits, overhaul rentals and rental payments aggregating approximately $397 million related to aircraft funded under the 2004 ECA facility. The segregated amounts fluctuate with changes in security deposits, overhaul rentals, rental payments and debt maturities related to the aircraft funded under the 2004 ECA facility. In addition, if a default resulting in an acceleration of the obligations under the 2004 ECA facility were to occur, pursuant to a cross- collateralization agreement, we would have to segregate lease payments, overhaul rentals and security deposits received after such acceleration event occurred relating to all the aircraft funded under the 1999 ECA facility, even though those aircraft are no longer subject to a loan at June 30, 2011.

-10-

INTERNATIONAL LEASE FINANCE CORPORATION AND SUBSIDIARIES
NOTES TO CONDENSED, CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
June 30, 2011
(Unaudited)

In March 2010, we entered into a $550 million secured term loan through a newly formed subsidiary. The proceeds from this transaction are restricted until the collateral is transferred to certain of our subsidiaries that guarantee the debt on a secured basis and whose equity were pledged to secure the term loan and at June 30, 2011, approximately $24 million of the proceeds remained restricted.

The subsidiaries described above meet the definition of a VIE and have been designated as non-restricted subsidiaries, under our indentures. See Note G — Debt Financings and Note N - Variable Interest Entities.

D. Allowance for Credit Losses

On occasion we enter into finance or sales type leases, or in limited circumstances we will advance cash, or accept a note receivable, in conjunction with the sale of an aircraft. At June 30, 2011, we had four aircraft under finance and sales type leases with aggregate principal balance of $65.7 million and notes receivable with aggregate principal balance, net of allowance, of $20.6 million. At December 31, 2010, the principal related to the four aircraft under finance leases aggregated $67.6 million and we had notes receivable with aggregate principal balance, net of allowance, of $65.1 million.

We had the following activity in our allowance for credit losses on notes receivable for the following period:


	(Dollars in thousands)
Allowance for credit losses:
Balance at December 31, 2010	$	21,042
Provision		12,163
Write-offs		—
Recoveries		(1,531	)

Balance at June 30, 2011	$	31,674

-11-

INTERNATIONAL LEASE FINANCE CORPORATION AND SUBSIDIARIES
NOTES TO CONDENSED, CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
June 30, 2011
(Unaudited)

E. Aircraft Impairment Charges and Fair Value Adjustments on Flight Equipment Sold or to be Disposed

We reported the following impairment charges and fair value adjustments on flight equipment during the three and six months ended June 30, 2011 and 2010, respectively:


	Three Months Ended									Six Months Ended
	June 30, 2011				June 30, 2010					June 30, 2011					June 30, 2010
	Aircraft		Impairment		Aircraft			Impairment		Aircraft		Impairment			Aircraft		Impairment
	Impaired		Charges and		Impaired			Charges and		Impaired		Charges and			Impaired		Charges and
	or		Fair Value		or			Fair Value		or		Fair Value			or		Fair Value
	Adjusted		Adjustments		Adjusted			Adjustments		Adjusted		Adjustments			Adjusted		Adjustments
Loss/(Gain)								(Dollars in millions)
Impairment charges and fair value adjustments on aircraft likely to be sold or sold		5	$	41.1		—	(b)	$	0.5		14	$	148.1			2	$	32.7
Fair value adjustments on held for sale aircraft sold or transferred from held for sale back to flight equipment under operating leases (a)		2		2.7		6			40.1		10		(3.5	)		56		361.3
Impairment charges on aircraft designated for part-out		—		—		1			12.4		1		2.5			1		12.4

Total Impairment charges and fair value adjustments on flight equipment		7	$	43.8		7		$	53.0		25	$	147.1			59	$	406.4


(a)		Included in these amounts are net fair value credit adjustments related to aircraft previously held for sale, but which no longer met such criteria and were subsequently reclassified to Flight equipment under operating leases. Also included in these amounts are fair value credit adjustments related to sales price adjustments related to aircraft that were previously held for sale and sold during periods presented.

(b)		Amounts relate to two aircraft that were previously impaired, but additional fair value adjustments were recorded in the current period.

Three months ended June 30, 2011

Aircraft impairment charges and fair value adjustments on flight equipment totaled $43.8 million for the three months ended June 30, 2011, due to the following factors:

	•		$41.1 million of impairment charges and fair value adjustments were recorded on five aircraft. This amount was the result of (i) $41.9 million of impairment charges on aircraft that we were in negotiations with third parties to sell and we deemed more likely than not to be sold, but did not meet the criteria required to be classified as Flight equipment held for sale; and (ii) fair value adjustments on aircraft sold to third parties from our fleet held for use aggregating a net credit of $0.8 million.

	•		$2.7 million of fair value adjustments were recorded on aircraft reclassified to or from Flight equipment held for sale. During the three months ended June 30, 2011, we had one aircraft that

-12-

INTERNATIONAL LEASE FINANCE CORPORATION AND SUBSIDIARIES
NOTES TO CONDENSED, CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
June 30, 2011
(Unaudited)

met the criteria for and was classified as Flight equipment held for sale. In addition, we determined that one aircraft we had previously classified as Flight equipment held for sale no longer met the criteria and reclassified that aircraft to Flight equipment under operating lease during the three months ended June 30, 2011. In accordance with GAAP, we recorded the aircraft at the lower of depreciated cost, had the aircraft never been classified as Flight equipment held for sale, or its fair value at the date of the reclassification of the aircraft.

•

We did not have any impairment charges on aircraft designated for part-out for the three months ended June 30, 2011.

Three months ended June 30, 2010

Aircraft impairment charges and fair value adjustments on flight equipment totaled $53.0 million for the three months ended June 30, 2010, due to the following factors:

	•		$0.5 million of fair value adjustments were recorded on two aircraft we deemed more likely than not to be sold.

	•		$40.1 million of impairment charges were recorded on six aircraft that met the criteria for and were classified as Flight equipment held for sale.

	•		$12.4 million of impairment charges were recorded due to the designation of one aircraft for part-out to record the parts at their fair value. The fair value of the parts is included in Lease receivables and other assets on our Condensed, Consolidated Balance Sheet.

Six months ended June 30, 2011

Aircraft impairment charges and fair value adjustments on flight equipment totaled $147.1 million for the six months ended June 30, 2011, due to the following factors:

	•		$148.1 million of impairment charges and fair value adjustments were recorded relating to (i) fair value adjustments aggregating $17.3 million on five aircraft sold to third parties from our fleet held for use; and (ii) impairment charges of $130.8 million on nine aircraft that we were in negotiations with third parties to sell and we deemed more likely than not to be sold, but did not meet the criteria required to be classified as Flight equipment held for sale.

	•		$3.5 million of fair value credit adjustments were recorded on aircraft reclassified to or from Flight equipment held for sale. During the six months ended June 30, 2011, we had one aircraft that met the criteria for and was classified as Flight equipment held for sale. In addition, we determined that three aircraft that we had previously classified as Flight equipment held for sale no longer met the criteria and reclassified those aircraft to Flight equipment under operating lease. In accordance with GAAP, we recorded the three aircraft at the lower of depreciated cost, had the aircraft never been classified as Flight equipment held for sale, or its fair value at the date of the reclassification of the aircraft. We recorded fair value credit adjustments of $0.3 million related to these aircraft. We also sold six aircraft that were classified as Flight equipment held for sale, and recorded fair value adjustments related to those aircraft aggregating a net credit of $3.2 million.

	•		$2.5 million of impairment charges were recorded due to the designation of one aircraft for part-out to record the parts at their fair value. The fair value of the parts is included in Lease receivables and other assets on our Condensed, Consolidated Balance Sheet.

-13-

INTERNATIONAL LEASE FINANCE CORPORATION AND SUBSIDIARIES
NOTES TO CONDENSED, CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
June 30, 2011
(Unaudited)

Six months ended June 30, 2010

Aircraft impairment charges and fair value adjustments on flight equipment totaled $406.4 million for the six months ended June 30, 2010, due to the following factors:

	•		$32.7 million of impairment charges were recorded on two aircraft that we were in negotiations with third parties to sell and we deemed more likely than not to be sold, but did not meet the criteria required to be classified as Flight equipment held for sale.

	•		$361.3 million of impairment charges were recorded on 56 aircraft reclassified to Flight equipment held for sale. On April 13, 2010, to generate liquidity to repay maturing debt obligations, we signed an agreement to sell 53 aircraft from our existing fleet to a third party for an aggregate purchase price of approximately $2.0 billion. On July 6, 2010, we signed an agreement to sell an additional six aircraft to another third party. As of June 30, 2010, 56 of the 59 aircraft met the criteria to be recorded as Flight equipment held for sale.

	•		$12.4 million of impairment charges were recorded due to the designation of one aircraft for part-out to record the parts at their fair value. The fair value of the parts is included in Lease receivables and other assets on our Condensed, Consolidated Balance Sheet.

F. Flight Equipment Held for Sale

We had the following activity in Flight equipment held for sale for the six months ended June 30, 2011:


	Aircraft			Carrying Value
Flight Equipment Held for Sale	(Dollars in thousands)
Balance at December 31, 2010		9		$	255,178
Transferred from Flight equipment held for sale to Flight equipment under operating leases		(3	)		(76,438	)
Transferred from Flight equipment under operating leases to Flight equipment held for sale		1			5,220
Flight equipment sold		(6	)		(178,740	)

Flight equipment held for sale at June 30, 2011		1		$	5,220

At June 30, 2011 and December 31, 2010, we had one and nine aircraft, respectively, that met the criteria for, and were classified as, Flight equipment held for sale. The balance in Flight equipment held for sale of $5.2 million and $255.2 million at June 30, 2011 and December 31, 2010, respectively, represents the estimated fair value of such aircraft less cost to sell. We cease recognition of depreciation expense on aircraft subsequent to transferring them from Flight equipment under operating leases. During the six months ended June 30, 2011, we transferred three aircraft that no longer met the criteria for Flight equipment held for sale to Flight equipment under operating leases.

In addition, we sold six aircraft that were classified as Flight equipment held for sale and recorded fair value adjustments related to those aircraft aggregating net credits of $0.3 million and $3.2 million for the three and six months ended June 30, 2011, respectively.

Net cash proceeds from sales of flight equipment classified as held for sale is received as each individual aircraft sale is consummated. The actual purchase price may differ from the recorded estimated fair

-14-

INTERNATIONAL LEASE FINANCE CORPORATION AND SUBSIDIARIES
NOTES TO CONDENSED, CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
June 30, 2011
(Unaudited)

value of the aircraft when classified as held for sale, depending on the timing of the completion of a sale and, in some cases, whether an aircraft classified as held for sale is subsequently substituted with different aircraft.

G. Debt Financings

Our debt financing was comprised of the following at the following dates:


	June 30,			December 31,
	2011			2010
	(Dollars in thousands)
Secured
Senior secured bonds	$	3,900,000		$	3,900,000
ECA financings		2,549,627			2,777,285
Bank debt (a)		1,601,973			1,601,658
Other secured financings		1,300,000			1,300,000
Less: Deferred debt discount		(19,901	)		(22,309	)

		9,331,699			9,556,634
Unsecured
Bonds and Medium-Term Notes		14,870,562			16,810,843
Bank debt		207,000			234,600
Less: Deferred debt discount		(42,977	)		(47,977	)

		15,034,585			16,997,466

Total Senior Debt Financings		24,366,284			26,554,100
Subordinated Debt		1,000,000			1,000,000

	$	25,366,284		$	27,554,100


(a)		Of this amount, $105.4 million (2011) and $113.7 million (2010) is non-recourse to ILFC. These secured financings were incurred by VIEs and consolidated into our condensed, consolidated financial statements.

The above amounts represent the anticipated settlement of our outstanding debt obligations as of June 30, 2011 and December 31, 2010. Certain adjustments required to present currently outstanding hedged debt obligations have been recorded and presented separately on our Condensed, Consolidated Balance Sheets, including adjustments related to foreign currency hedging and interest rate hedging activities.

For some of our secured debt financings, we created direct and indirect wholly-owned subsidiaries for the purpose of purchasing and holding title to aircraft, and we then pledged the equity of those subsidiaries as collateral. These subsidiaries have been designated as non-restricted subsidiaries under our indentures and meet the definition of a VIE. We have determined that we are the primary beneficiary of such VIEs and, accordingly, we consolidate such entities into our condensed, consolidated financial statements. See Note N — Variable Interest Entities for more information on VIEs.

At June 30, 2011, approximately $21 billion of our flight equipment was pledged as collateral for the $9.3 billion of secured debt outstanding.

Senior Secured Bonds

-15-

INTERNATIONAL LEASE FINANCE CORPORATION AND SUBSIDIARIES
NOTES TO CONDENSED, CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
June 30, 2011
(Unaudited)

of 6.75%, and $1.275 billion maturing in September 2018 and bearing interest of 7.125%. The notes are secured by a designated pool of aircraft, initially consisting of 174 aircraft and their related leases. In addition, two of ILFC’s subsidiaries, which either own or hold leases of aircraft included in the pool securing the notes, have guaranteed the notes. We can redeem the notes at any time prior to their maturity, provided we give notification between 30 to 60 days prior to the intended redemption date and subject to a penalty of the greater of 1% of the outstanding principal amount and a “make-whole” premium. There is no sinking fund for the notes.

The indenture governing the senior secured notes contains customary covenants that, among other things, restrict our and our restricted subsidiaries’ ability to: (i) create liens; (ii) sell, transfer or otherwise dispose of assets; (iii) declare or pay dividends or acquire or retire shares of our capital stock; (iv) designate restricted subsidiaries as non-restricted subsidiaries or designate non-restricted subsidiaries; (v) make investments in or transfer assets to non-restricted subsidiaries; and (vi) consolidate, merge, sell or otherwise dispose of all, or substantially all, of our assets.

The indenture also provides for customary events of default, including but not limited to, the failure to pay scheduled principal and interest payments on the notes, the failure to comply with covenants and agreements specified in the indenture, the acceleration of certain other indebtedness resulting from non-payment of that indebtedness, and certain events of insolvency. If any event of default occurs, any amount then outstanding under the senior secured notes may immediately become due and payable.

Export Credit Facilities

We entered into ECA facility agreements in 1999 and 2004 through certain direct and indirect wholly-owned subsidiaries that have been designated as non-restricted subsidiaries under our indentures. The 1999 and 2004 ECA facilities were used to fund purchases of Airbus aircraft through 2001 and June 2010, respectively. New financings are no longer available to us under either ECA facility and we had no loans outstanding under the 1999 ECA facility as of June 30, 2011. The loans made under the ECA facilities were used to fund a portion of each aircraft’s net purchase price. The loans are guaranteed by various European ECAs. We have collateralized the debt with pledges of the shares of wholly-owned subsidiaries that hold title to the aircraft financed under the facilities.

In January 1999, we entered into the 1999 ECA facility and used amounts borrowed under this facility to finance purchases of 62 Airbus aircraft through 2001. At June 30, 2011, all loans under the facility had been paid in full. The facility is, however, party to a cross-collateralization agreement relating to the 2004 ECA facility, as further discussed below. The net book value of the aircraft used as collateral under this facility was $1.5 billion at June 30, 2011.

In May 2004, we entered into the 2004 ECA facility, which was amended in May 2009 to allow us to borrow up to $4.6 billion for the purchase of Airbus aircraft delivered through June 30, 2010. We used $4.3 billion of the available amount to finance purchases of 76 aircraft. Each aircraft purchased was financed by a ten-year fully amortizing loan. As of June 30, 2011, approximately $2.5 billion was outstanding under this facility. The interest rates on the loans outstanding under the facility are either fixed or based on LIBOR and ranged from 0.37% to 4.71% at June 30, 2011. The net book value of the aircraft purchased under this facility was $4.4 billion at June 30, 2011.

Because of our current long-term debt ratings, the 2004 ECA facility requires us to segregate security deposits, overhaul rentals and rental payments received for aircraft with loan balances outstanding under the 2004 ECA facility (segregated rental payments are used to make scheduled principal and interest payments on the outstanding debt under the 2004 ECA facility). The segregated funds are deposited into separate accounts pledged to and controlled by the security trustee of the facility. In addition, we must register the existing

-16-

INTERNATIONAL LEASE FINANCE CORPORATION AND SUBSIDIARIES
NOTES TO CONDENSED, CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
June 30, 2011
(Unaudited)

individual mortgages on certain aircraft funded under both the 1999 and 2004 ECA facilities in the local jurisdictions in which the respective aircraft are registered (mortgages are only required to be filed on aircraft with loan balances outstanding or otherwise as agreed in connection with the cross-collateralization agreement as described below). At June 30, 2011, we had segregated security deposits, overhaul rentals and rental payments aggregating approximately $397 million related to aircraft funded under the 2004 ECA facility. The segregated amounts will fluctuate with changes in security deposits, overhaul rentals, rental payments and debt maturities related to the aircraft funded under the 2004 ECA facility.

During the first quarter of 2010, we entered into agreements to cross-collateralize the 1999 ECA facility with the 2004 ECA facility. As part of such cross-collateralization we (i) guaranteed the obligations under the 2004 ECA facility through our subsidiary established to finance Airbus aircraft under our 1999 ECA facility; (ii) agreed to grant mortgages over certain aircraft financed under the 1999 ECA facility and security interests over other collateral related to the aircraft financed under the 1999 ECA facility to secure the guaranty obligation; (iii) accepted a loan-to-value ratio (aggregating the loans and aircraft from the 1999 ECA facility and the 2004 ECA facility) of no more than 50%, in order to release liens (including the liens incurred under the cross-collateralization agreement) on any aircraft financed under the 1999 or 2004 ECA facilities or other assets related to the aircraft; and (iv) agreed to allow proceeds generated from certain disposals of aircraft to be applied to obligations under the 2004 ECA facility. As of June 30, 2011, there were no outstanding obligations under the 1999 ECA facility.

We also agreed to additional restrictive covenants relating to the 2004 ECA facility, restricting us from (i) paying dividends on our capital stock with the proceeds of asset sales and (ii) selling or transferring aircraft with an aggregate net book value exceeding a certain disposition amount, which is currently approximately $10.3 billion. The disposition amount will be reduced by approximately $91.4 million at the end of each calendar quarter during the effective period. The covenants are in effect from the date of the agreement until December 31, 2012. A breach of these restrictive covenants would result in a termination event for the ten loans funded subsequent to the date of the agreement and would make those loans, which aggregated $285.2 million at June 30, 2011, due in full at the time of such a termination event.

In addition, if a termination event resulting in an acceleration of the obligations under the 2004 ECA facility were to occur, pursuant to the cross-collateralization agreement, we would have to segregate lease payments, overhaul rentals and security deposits received after such acceleration event occurred relating to all the aircraft funded under the 1999 ECA facility, even though those aircraft are no longer subject to a loan at June 30, 2011.

Secured Bank Debt

We have a credit facility, dated October 13, 2006, as amended, under which the original maximum amount available was $2.5 billion. We repaid aggregate principal amounts of loans outstanding under this facility of $800 million and $200 million in the fourth quarter of 2010 and in June 2011, respectively. The amended facility prohibits us from re-borrowing amounts repaid under this facility. Therefore, the current size of the facility is $1.5 billion. As of June 30, 2011, we had secured loans of $1.29 billion outstanding under the facility, all of which will mature in October 2012. The interest on $1.25 billion of the secured loans is based on LIBOR plus a margin of 2.15%, plus facility fees of 0.2% on the outstanding principal balance and the remaining $43.0 million had an interest rate of 4.75% at June 30, 2011. The remaining $207 million outstanding under the facility consists of unsecured loans that will mature on their originally scheduled maturity date of October 13, 2011, with a LIBOR based interest rate plus a margin of 0.65% plus facility fees of 0.2% of the outstanding balance.

-17-

INTERNATIONAL LEASE FINANCE CORPORATION AND SUBSIDIARIES
NOTES TO CONDENSED, CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
June 30, 2011
(Unaudited)

aircraft with aggregate appraised values of originally not less than 133% of the outstanding principal amount (the “Required Collateral Amount”). The credit facility includes an ongoing requirement, tested periodically, that the appraised value of the eligible aircraft owned by the pledged subsidiaries must be equal to or greater than 100% of the Required Collateral Amount. This ongoing requirement is subject to the right to transfer additional eligible aircraft to the pledged subsidiaries or ratably prepay the loans. We also guarantee the secured loans through certain other subsidiaries.

The credit facility also contains financial and restrictive covenants that (i) limit our ability to incur indebtedness; (ii) restrict certain payments, liens and sales of assets by us; and (iii) require us to maintain a fixed charge coverage ratio and consolidated tangible net worth in excess of certain minimum levels.

On March 30, 2011, one of our non-restricted subsidiaries entered into a secured term loan agreement with lender commitments in the amount of approximately $1.3 billion, which was subsequently increased to approximately $1.5 billion. The loan matures on March 30, 2018, with scheduled principal payments commencing in June 2012, and bears interest at LIBOR plus a margin of 2.75%, or, if applicable, a base rate plus a margin of 1.75%. The obligations of the subsidiary borrower are guaranteed on an unsecured basis by ILFC and on a secured basis by certain wholly-owned subsidiaries of the subsidiary borrower. The security granted initially includes a portfolio of 54 aircraft, together with attached leases and all related equipment, with an average appraised base market value of approximately $2.4 billion as of January 1, 2011. The $2.4 billion equals an initial loan-to-value ratio of approximately 65% and the equity interests in certain SPEs that will own the aircraft and related equipment and leases that are pledged as security for the loans. The proceeds of the loan will be made available to the subsidiary borrower as aircraft are transferred to the SPEs, at an advance rate equal to 65% of the initial appraised value of the aircraft transferred to the SPEs. At June 30, 2011 and August 5, 2011, respectively, approximately $181 million and $696 million had been advanced to the subsidiary borrower under the agreement.

The subsidiary borrower will be required to maintain compliance with a maximum loan-to-value ratio, which varies over time, as set forth in the term loan agreement. If the subsidiary borrower does not maintain compliance with the maximum loan-to-value ratio, it will be required to either prepay portions of the outstanding loans or transfer additional aircraft to SPEs, subject to certain concentration criteria, so that the ratio is equal to or less than the maximum loan-to-value ratio.

We can voluntarily prepay the loan at any time, subject to a 2% prepayment penalty prior to March 30, 2012, and a 1% prepayment penalty between March 30, 2012 and March 30, 2013. The loan facility contains customary covenants and events of default, including covenants that limit the ability of the subsidiary borrower and its subsidiaries to (i) incur additional indebtedness; (ii) create liens; (iii) consolidate, merge or dispose of all or substantially all of their assets; and (iv) enter into transactions with affiliates.

In May 2009, ILFC provided $39.0 million of subordinated financing to a non-restricted subsidiary. The entity used these funds and an additional $106.0 million borrowed from third parties to purchase an aircraft, which it leases to an airline. ILFC acts as servicer of the lease for the entity. The $106.0 million loan has two tranches. The first tranche is $82.0 million, fully amortizes over the lease term, and is non-recourse to ILFC. The second tranche is $24.0 million, partially amortizes over the lease term, and is guaranteed by ILFC. Both tranches of the loan are secured by the aircraft and the lease receivables. Both tranches mature in May 2018 with interest rates based on LIBOR. At June 30, 2011, the interest rates on the $82.0 million and $24.0 million tranches were 3.34% and 5.04%, respectively. The entity entered into two interest rate cap agreements to economically hedge the related LIBOR interest rate risk in excess of 4.00%. At June 30, 2011, $83.8 million was outstanding under the two tranches and the net book value of the aircraft was $134.7 million.

-18-

INTERNATIONAL LEASE FINANCE CORPORATION AND SUBSIDIARIES
NOTES TO CONDENSED, CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
June 30, 2011
(Unaudited)

In June 2009, we borrowed $55.4 million through a non-restricted subsidiary, which owns one aircraft leased to an airline. Half of the original loan amortizes over five years and the remaining $27.7 million is due in 2014. The loan is non-recourse to ILFC and is secured by the aircraft and the lease receivables. The interest rate on the loan is fixed at 6.58%. At June 30, 2011, $43.7 million was outstanding and the net book value of the aircraft was $89.8 million.

Other Secured Financing Arrangements

On March 17, 2010, we entered into a $750 million term loan agreement secured by 43 aircraft and all related equipment and leases. The aircraft had an average appraised base market value of approximately $1.3 billion, for an initial loan-to-value ratio of approximately 56%. The loan matures on March 17, 2015, and bears interest at LIBOR plus a margin of 4.75% with a LIBOR floor of 2.0%. The principal of the loan is payable in full at maturity with no scheduled amortization, but we can voluntarily prepay the loan at any time. On March 17, 2010, we also entered into an additional term loan agreement of $550 million through a newly formed non-restricted subsidiary. The obligations of the subsidiary borrower are guaranteed on an unsecured basis by ILFC and on a secured basis by certain non-restricted subsidiaries of ILFC that hold title to 37 aircraft. The aircraft had an average appraised base market value of approximately $969 million, for an initial loan-to-value ratio of approximately 57%. The loan matures on March 17, 2016, and bears interest at LIBOR plus a margin of 5.0% with a LIBOR floor of 2.0%. The principal of the loan is payable in full at maturity with no scheduled amortization. The proceeds from this loan are restricted from use in our operations until we transfer the related collateral to the non-restricted subsidiaries. At June 30, 2011, approximately $24 million of the proceeds remained restricted. We can voluntarily prepay the loan at any time, subject to a 1% prepayment penalty prior to March 17, 2012. Both loans require a loan-to-value ratio of no more than 63%. The loans also contain customary covenants and events of default, including limitations on the ability of us and our subsidiaries, as applicable, to create liens; incur additional indebtedness; consolidate, merge, sell or otherwise dispose of all or substantially all of our assets; and enter into transactions with affiliates.

Unsecured Bonds and Medium-Term Notes

Shelf Registration Statement: We have an effective shelf registration statement filed with the SEC. As a result of our WKSI status, we have an unlimited amount of debt securities registered for sale under the shelf registration statement.

Under our shelf registration statement, we issued: (i) $1.0 billion of 5.75% notes due 2016 and $1.25 billion of 6.25% notes due 2019 on May 24, 2011; (ii) $1.0 billion of 8.25% notes due 2020 on December 7, 2010; and (iii) $500 million of 8.875% notes due 2017 on August 20, 2010. At June 30, 2011, after the completion of tender offers to purchase certain notes on June 17, 2011, as further discussed below, we also had $7.2 billion of public bonds and medium-term notes outstanding, with interest rates ranging from 0.60% to 7.95%, which we had issued in prior years under previous registration statements.

The aggregate net proceeds from the sale of the notes issued on May 24, 2011, were approximately $2.22 billion after deducting underwriting discounts and commissions, fees and estimated offering expenses. The net proceeds from the sale of the notes were primarily used to purchase notes validly tendered and accepted in our tender offers that we announced during the second quarter of 2011 to purchase various series of our outstanding debt securities for up to $1.75 billion cash consideration.

-19-

INTERNATIONAL LEASE FINANCE CORPORATION AND SUBSIDIARIES
NOTES TO CONDENSED, CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
June 30, 2011
(Unaudited)

Tender Offers to Purchase Notes: On June 17, 2011, we completed the above mentioned tender offers and accepted for purchase previously issued notes with an aggregate principal amount of approximately $1.67 billion, resulting in total cash consideration, including accrued and unpaid interest, of approximately $1.75 billion. In connection with the cancellation of the notes, we recognized losses aggregating approximately $61.1 million, which included the cost of repurchasing the notes and the write off of the remaining unamortized deferred financing costs. The following notes were accepted for purchase by us in the tender offers:


	Aggregate				Aggregate
	Principal Amount				Principal Amount
	Outstanding		Total Principal		Outstanding upon
	before Tender		Amount Accepted		Completion of
	Offers (a)		for Purchase (b)		Tender Offers
Title of Security	(Dollars in thousands)
4.750% Medium-Term Notes, Series Q, due January 13, 2012	$	500,000	$	293,496	$	206,504
5.400% Medium-Term Notes, Series R, due February 15, 2012		750,000		386,623		363,377
5.350% Medium-Term Notes, Series R, due March 1, 2012		600,000		265,371		334,629
5.300% Medium-Term Notes, Series R, due May 1, 2012		850,000		402,993		447,007
5.550% Medium-Term Notes, Series Q, due September 5, 2012		300,000		100,872		199,128
5.000% Medium-Term Notes, Series Q, due September 15, 2012		300,000		103,564		196,436
5.250% Medium-Term Notes, Series Q, due January 10, 2013		300,000		72,234		227,766
6.375% Medium-Term Notes, Series R, due March 25, 2013		1,000,000		47,146		952,854

Total	$	4,600,000	$	1,672,299	$	2,927,701


(a)		As of June 2, 2011.

(b)		Includes notes that were validly tendered and accepted on June 2, 2011, and for which payment was settled on June 3, 2011.

Euro Medium-Term Note Programme: We have a $7.0 billion Euro Medium-Term Note Programme, which will expire in September 2011. We had approximately $1.2 billion of Euro denominated notes outstanding under such Programme at June 30, 2011. The notes mature on August 15, 2011, and bear interest based on Euribor with a spread of 0.375%. As a bond issue matures, the principal amount of that bond becomes available for new issuances under the Programme. We have eliminated the currency exposure arising from the notes by hedging the notes into U.S. dollars and fixing the interest rates at a range of 5.355% to 5.367%. We translate the debt into U.S. dollars using current exchange rates prevailing at the balance sheet date. The foreign exchange adjustment for the foreign currency denominated notes was $281.6 million and $165.4 million at June 30, 2011 and December 31, 2010, respectively.

A rollforward for the six months ended June 30, 2011, of the foreign currency adjustment related to foreign currency denominated notes is presented below:

-20-

INTERNATIONAL LEASE FINANCE CORPORATION AND SUBSIDIARIES
NOTES TO CONDENSED, CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
June 30, 2011
(Unaudited)


	(Dollars in thousands)
Foreign currency adjustment related to foreign currency denominated debt at December 31, 2010	$	165,400
Foreign currency period adjustment of non-US$ denominated debt		116,200

Foreign currency adjustment related to foreign currency denominated debt at June 30, 2011	$	281,600

Other Senior Notes: On March 22, 2010 and April 6, 2010, we issued a combined $1.25 billion aggregate principal amount of 8.625% senior notes due September 15, 2015, and $1.5 billion aggregate principal amount of 8.750% senior notes due March 15, 2017, pursuant to an indenture dated as of March 22, 2010. The notes are due in full on their scheduled maturity dates. The notes are not subject to redemption prior to their stated maturity and there are no sinking fund requirements. In connection with the note issuances, we entered into registration rights agreements obligating us to, among other things, complete a registered exchange offer to exchange the notes of each series for new registered notes of such series with substantially identical terms, or register the notes pursuant to a shelf registration statement.

The annual interest rate on the affected notes increased by 0.25% per year for 90 days, commencing on January 26, 2011, because the registration statement relating to the exchange offer was not declared effective by the SEC by that date, as required under the registration rights agreement. On April 26, 2011, the annual interest rate on the affected notes increased by an additional 0.25% because we were unable to consummate the exchange offer by such date. We completed the exchange offer on May 5, 2011, at which time the applicable interest rate reverted to the original level.

The indenture governing the notes contains customary covenants that, among other things, restrict our, and our restricted subsidiaries’, ability to (i) incur liens on assets; (ii) declare or pay dividends or acquire or retire shares of our capital stock during certain events of default; (iii) designate restricted subsidiaries as non-restricted subsidiaries or designate non-restricted subsidiaries; (iv) make investments in or transfer assets to non-restricted subsidiaries; and (v) consolidate, merge, sell, or otherwise dispose of all or substantially all of our assets.

Unsecured Bank Debt

On January 31, 2011, we entered into a new $2.0 billion unsecured three-year revolving credit facility with a group of 11 banks that will expire on January 31, 2014. This revolving credit facility provides for interest rates based on either a base rate or LIBOR plus an applicable margin determined by a ratings-based pricing grid. The credit agreement contains customary events of default and restrictive financial covenants that require us to maintain a minimum fixed charge coverage ratio, a minimum consolidated tangible net worth and a maximum ratio of consolidated debt to consolidated tangible net worth. As of June 30, 2011, no amounts were outstanding under this revolving facility.

As of June 30, 2011, $207.0 million of unsecured loans were outstanding under our credit agreement dated as of October 13, 2006. These loans remain unsecured and mature on October 13, 2011, the original maturity date for this credit facility. The interest on the loans is based on LIBOR plus a margin of 0.65% plus facility fees of 0.2% of the outstanding balance. The remaining outstanding loans under the agreement, as amended, are secured. See Secured Bank Debt above.

-21-

INTERNATIONAL LEASE FINANCE CORPORATION AND SUBSIDIARIES
NOTES TO CONDENSED, CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
June 30, 2011
(Unaudited)

Subordinated Debt

In December 2005, we issued two tranches of subordinated debt totaling $1.0 billion. Both tranches mature on December 21, 2065, but each tranche has a different call option. The $600 million tranche had a call option date of December 21, 2010, and the $400 million tranche has a call option date of December 21, 2015. We did not exercise the call option at December 21, 2010 and the interest rate on the $600 million tranche changed from a fixed interest rate of 5.90% to a floating rate with an initial credit spread of 1.55% plus the highest of (i) 3 month LIBOR; (ii) 10-year constant maturity treasury; and (iii) 30-year constant maturity treasury. The interest will reset quarterly and at June 30, 2011, the interest rate was 5.74%. The $400 million tranche has a fixed interest rate of 6.25% until the 2015 call option date, and if we do not exercise the call option, the interest rate will change to a floating rate, reset quarterly, based on the initial credit spread of 1.80% plus the highest of (i) 3 month LIBOR; (ii) 10-year constant maturity treasury; and (iii) 30-year constant maturity treasury. If we choose to redeem the $600 million tranche, we must pay 100% of the principal amount of the bonds being redeemed, plus any accrued and unpaid interest to the redemption date. If we choose to redeem only a portion of the outstanding bonds, at least $50 million principal amount of the bonds must remain outstanding.

H. Derivative Activities

We use derivatives to manage exposures to interest rate and foreign currency risks. At June 30, 2011, we had interest rate and foreign currency swap agreements with a related counterparty and interest rate cap agreements with an unrelated counterparty. Our foreign currency swap agreements mature on August 15, 2011, our interest rate swap agreements mature in 2014 and 2015, and our interest rate cap agreements mature in 2018.

We record changes in fair value of derivatives in income or OCI depending on the designation of the hedge as either a fair value hedge or cash flow hedge, respectively. Where hedge accounting is not achieved, the change in fair value of the derivative is recorded in income. In the case of a re-designation of a derivative contract, the balance accumulated in AOCI at the time of the re-designation is amortized into income over the remaining life of the underlying derivative.

We have entered into two interest rate cap agreements with an unrelated counterparty in connection with a secured financing transaction. We have not designated the interest rate caps as hedges, and all changes in fair value are recorded in income.

All of our interest rate and foreign currency swap agreements are subject to a master netting agreement, which would allow the netting of derivative assets and liabilities in the case of default under any one contract. During the second quarter of 2011, we novated our trades and our master netting agreement, changing our counterparty from AIGFP to AIG Markets, Inc., both wholly-owned subsidiaries of AIG. All other terms of our master netting agreement remained unchanged and all instruments designated as hedges continued to qualify for their respective treatment under US GAAP. Our derivative portfolio is recorded at fair value on our balance sheet on a net basis in Derivative assets, net (see Note I — Fair Value Measurements). We account for all of our interest rate swap and foreign currency swap agreements as cash flow hedges. We do not have any credit risk related contingent features and are not required to post collateral under any of our existing derivative contracts.

-22-

INTERNATIONAL LEASE FINANCE CORPORATION AND SUBSIDIARIES
NOTES TO CONDENSED, CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
June 30, 2011
(Unaudited)

Derivatives have notional amounts, which generally represent amounts used to calculate contractual cash flows to be exchanged under the contract. The following table presents notional and fair values of derivatives outstanding at the following dates:


	Asset Derivatives				Liability Derivatives
	Notional Value		Fair Value		Notional Value		Fair Value
			USD				USD
			(In thousands)
June 30, 2011:
Derivatives designated as hedging instruments:
Interest rate swap agreements (a)	$	—	$	—	$	553,319	$	(48,004	)
Foreign exchange swap agreements	€	1,000,000		254,200		—		—

Total derivatives designated as hedging instruments			$	254,200			$	(48,004	)
Derivatives not designated as hedging instruments:
Interest rate cap agreements	$	83,788	$	708	$	—	$	—

Total derivatives			$	254,908			$	(48,004	)


December 31, 2010:
Derivatives designated as hedging instruments:
Interest rate swap agreements (a)	$	—	$	—	$	625,717	$	(56,244	)
Foreign exchange swap agreements	€	1,000,000		114,431		—		—

Total derivatives designated as hedging instruments			$	114,431			$	(56,244	)
Derivatives not designated as hedging instruments:
Interest rate cap agreements	$	89,520	$	1,963	$	—	$	—

Total derivatives			$	116,394			$	(56,244	)


(a)		Converts floating interest rate debt into fixed rate debt.

-23-

INTERNATIONAL LEASE FINANCE CORPORATION AND SUBSIDIARIES
NOTES TO CONDENSED, CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
June 30, 2011
(Unaudited)

During the three and six months ended June 30, 2011 and 2010, we recorded the following in OCI related to derivative instruments:


	Gain (Loss)						Gain (Loss)
	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2011			2010			2011			2010
				(Dollars in thousands)
Effective portion of change in fair market value of derivatives (a)(b)	$	44,955		$	(166,030	)	$	145,613		$	(221,234	)
Foreign exchange component of cross currency swaps (credited) charged to income		(32,100	)		203,520			(116,200	)		334,720
Amortization of balances of de-designated hedges and other adjustments		874			1,040			1,915			1,292
Income tax effect		(4,805	)		(13,485	)		(10,965	)		(40,172	)

Net changes in cash flow hedges, net of taxes	$	8,924		$	25,045		$	20,363		$	74,606


(a)		Includes $(255) and $(299) of combined CVA and MVA for the three and six month periods ended June 30, 2011, respectively, and $25,208 and $(62,620) of combined CVA and MVA for the three and six month periods ended June 30, 2010, respectively.

(b)		2010 includes losses of $(15,409) on a derivative contract that matured during the six months ended June 30, 2010, that was de-designated as a cash flow hedge and then subsequently re-designated during the life of the contract.

The following table presents the effective portion of the unrealized gain (loss) on derivative positions recorded in OCI:


	Amount of Unrealized Gain or (Loss)
	Recorded in OCI on Derivatives
	(Effective Portion)
	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2011			2010			2011			2010
Derivatives Designated as Cash Flow Hedges				(Dollars in thousands)
Interest rate swap agreements	$	(6,093	)	$	4,836		$	(5,717	)	$	(4,582	)
Foreign exchange swap agreements		34,778			(198,011	)		117,494			(271,080	)

Total (a)	$	28,685		$	(193,175	)	$	111,777		$	(275,662	)


(a)		Includes $(255) and $(299) of combined CVA and MVA for the three and six month periods ended June 30, 2011, respectively, and $25,208 and $(62,620) of combined CVA and MVA for the three and six month periods ended June 30, 2010, respectively.

-24-

INTERNATIONAL LEASE FINANCE CORPORATION AND SUBSIDIARIES
NOTES TO CONDENSED, CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
June 30, 2011
(Unaudited)

The following table presents amounts reclassified from AOCI into income when cash payments were made or received on our qualifying cash flow hedges:


	Amount of Gain or (Loss) Reclassified from
	AOCI Into Income
	(Effective Portion)
	Three Months Ended						Six Months Ended
Location of Gain or (Loss) Reclassified from AOCI	June 30,						June 30,
into Income (Effective Portion)	2011			2010			2011			2010
				(Dollars in thousands)
Interest rate swap agreements — interest expense	$	(6,511	)	$	(8,128	)	$	(13,414	)	$	(16,915	)
Foreign exchange swap agreements — interest expense		(9,759	)		(19,017	)		(20,422	)		(37,289	)
Foreign exchange swap agreements — lease revenue		—			—			—			(224	)

Total	$	(16,270	)	$	(27,145	)	$	(33,836	)	$	(54,428	)

We estimate that within the next twelve months, we will amortize into earnings approximately $73.3 million of the pre-tax balance in AOCI under cash flow hedge accounting in connection with our program to convert debt from floating to fixed interest rates.

The following table presents the effect of derivatives recorded in the Condensed, Consolidated Statements of Income for the three and six months ended June 30, 2011 and 2010:


	Amount of Gain or (Loss) Recognized
	in Income on Derivatives
	(Ineffective Portion) (a)
	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2011			2010			2011			2010
				(Dollars in thousands)
Derivatives Designated as Cash Flow Hedges:
Interest rate swap agreements	$	(27	)	$	(32	)	$	(58	)	$	(91	)
Foreign exchange swap agreements		(322	)		(2,338	)		1,008			(25,629	)

Total		(349	)		(2,370	)		950			(25,720	)

Derivatives Not Designated as a Hedge:
Interest rate cap agreements (b)		(245	)		(1,373	)		(1,126	)		(2,428	)

Reconciliation to Condensed, Consolidated Statements of Income:
Income effect of maturing derivative contracts		—			—			—			(15,409	)
Reclassification of amounts de-designated as hedges recorded in AOCI		(874	)		(1,040	)		(1,915	)		(1,292	)

Effect from derivatives, net of change in hedged items due to changes in foreign exchange rates	$	(1,468	)	$	(4,783	)	$	(2,091	)	$	(44,849	)


(a)		All components of each derivative’s gain or loss were included in the assessment of effectiveness.

(b)		An additional $(77) and $(6) and $(131) and $(7) of amortization of premium paid to the derivative counterparty was recognized in Interest expense during the three and six months ended June 30, 2011 and 2010, respectively.

-25-

INTERNATIONAL LEASE FINANCE CORPORATION AND SUBSIDIARIES
NOTES TO CONDENSED, CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
June 30, 2011
(Unaudited)

Fair Value Measurements

Fair value is defined as the price that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between market participants at the measurement date. The degree of judgment used in measuring the fair value of financial instruments generally correlates with the level of pricing observability. Assets and liabilities recorded at fair value on our Condensed, Consolidated Balance Sheets are measured and classified in a hierarchy for disclosure purposes consisting of three levels based on the observability of inputs available in the marketplace used to measure the fair value. Level 1 refers to fair values determined based on quoted prices in active markets for identical assets; Level 2 refers to fair values estimated using significant other observable inputs; and Level 3 refers to fair values estimated using significant non-observable inputs.

Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following table presents our assets and liabilities measured at fair value on a recurring basis as of June 30, 2011 and December 31, 2010, categorized using the fair value hierarchy described above.


	Level 1		Level 2			Level 3		Counterparty Netting (a)			Total
	(Dollars in thousands)
June 30, 2011:
Derivative assets	$	—	$	254,908		$	—	$	(48,004	)	$	206,904
Derivative liabilities		—		(48,004	)		—		48,004			—

Total	$	—	$	206,904		$	—	$	—		$	206,904

December 31, 2010:
Derivative assets	$	—	$	116,394		$	—	$	(56,244	)	$	60,150
Derivative liabilities		—		(56,244	)		—		56,244			—

Total	$	—	$	60,150		$	—	$	—		$	60,150


(a)		As permitted under GAAP, we have elected to offset derivative assets and derivative liabilities under our master netting agreement.

Assets and Liabilities Measured at Fair Value on a Non-recurring Basis

We measure the fair value of aircraft and certain other assets on a non-recurring basis, generally quarterly, annually, or when events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable.

The fair value of an aircraft is classified as a Level 3 valuation. Fair value of flight equipment is determined using an income approach based on the present value of cash flows from contractual lease agreements, contingent rentals where appropriate, and projected future lease payments, which extend to the end of the aircraft’s economic life in its highest and best use configuration, as well as a disposition value, based on the expectations of market participants.

We recognized impairment charges and fair value adjustments for the three and six months ended June 30, 2011 and 2010, as provided in Note E — Aircraft Impairment Charges and Fair Value Adjustments on Flight Equipment Sold or to be Disposed.

The following table presents the effect on our condensed, consolidated financial statements as a result of the non-recurring impairment charges and fair value adjustments recorded to Flight equipment for the six months ended June 30, 2011:

-26-

INTERNATIONAL LEASE FINANCE CORPORATION AND SUBSIDIARIES
NOTES TO CONDENSED, CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
June 30, 2011
(Unaudited)


			Impairment
			Charges and									Depreciation			Carrying
	Book Value at		Fair Value									and Other			Value at June
	December 31, 2010		Adjustments			Reclassifications			Sales			Adjustments			30, 2011
						(Dollars in millions)
Flight equipment under operating lease	$	331.2	$	(150.6	)	$	75.6		$	(53.0	)	$	(11.4	)	$	191.8
Flight equipment held for sale		262.2		3.5			(78.7	)		(181.8	)		—			5.2
Lease receivables and other assets		—		—			3.1			—			—			3.1

Total	$	593.4	$	(147.1	)	$	—		$	(234.8	)	$	(11.4	)	$	200.1

Fair Value Disclosures of Financial Instruments

We used the following methods and assumptions in estimating our fair value disclosures for financial instruments:

Cash: The carrying value reported on the balance sheet for cash and cash equivalents approximates its fair value.

Notes Receivable: The fair values for notes receivable are estimated using discounted cash flow analyses, using market derived discount rates.

Debt Financing: The fair value of our long-term fixed rate debt is estimated using discounted cash flow analyses, based on our spread to U.S. Treasury bonds for similar debt at year end. The fair value of our long-term floating rate debt is estimated using discounted cash flow analysis based on credit default spreads.

Derivatives: Fair values were based on the use of a valuation model that utilizes, among other things, current interest, foreign exchange and volatility rates, as applicable.

-27-

INTERNATIONAL LEASE FINANCE CORPORATION AND SUBSIDIARIES
NOTES TO CONDENSED, CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
June 30, 2011
(Unaudited)

The carrying amounts and fair values of our financial instruments at June 30, 2011 and December 31, 2010, are as follows:


	June 30, 2011						December 31, 2010
	Carrying Amount			Fair Value of			Carrying Amount of			Fair Value of
	of Asset (Liability)			Asset (Liability)			Asset (Liability)			Asset (Liability)
	(Dollars in thousands)
Cash, including restricted cash	$	2,559,523	(a)	$	2,559,523		$	3,524,750	(a)	$	3,524,750
Notes receivable		20,628			19,548			65,065			64,622
Debt financing (including subordinated debt and foreign currency adjustment)		(25,647,884	)		(26,750,239	)		(27,719,500	)		(28,267,765	)
Derivative assets		206,904			206,904			60,150			60,150


(a)		Includes restricted cash of $421.0 million (2011) and $457.1 million (2010).

Security Deposits on Aircraft, Overhaul Rentals and Other Customer Deposits

As of June 30, 2011 and 2010, Security deposits, Overhaul rentals and Other customer deposits were comprised of:


	June 30,
	2011		December 31, 2010
	(Dollars in thousands)
Security deposits paid by lessees	$	901,832	$	945,195
Overhaul rentals		607,419		555,423
Other customer deposits		172,889		120,166

Total	$	1,682,140	$	1,620,784

Related Party Transactions

Related Party Allocations and Fees: We are party to cost sharing agreements, including tax, with AIG. Generally, these agreements provide for the allocation of corporate costs based upon a proportional allocation of costs to all subsidiaries. We also pay other subsidiaries of AIG a fee related to management services provided for certain of our foreign subsidiaries and we earn management fees from two trusts consolidated by AIG for the management of aircraft we sold to the trusts in prior years. In March 2010, we paid AIG $85.0 million that was due and payable on a loan related to certain tax planning activities we had participated in during 2002 and 2003.

Loans from AIG Funding: We borrowed $3.9 billion from AIG Funding, a subsidiary of AIG, in 2009 to assist in funding our liquidity needs. On August 20, 2010, we prepaid in full the principal balance of approximately $3.9 billion plus accrued interest.

Derivatives and Insurance Premiums: The counterparty of all of our interest rate swap and foreign currency swap agreements as of June 30, 2011 was AIG Markets, Inc., a wholly-owned subsidiary of AIG. See

-28-

INTERNATIONAL LEASE FINANCE CORPORATION AND SUBSIDIARIES
NOTES TO CONDENSED, CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
June 30, 2011
(Unaudited)

Note I — Fair Value Measurements and Note H — Derivative Activities. In addition, we purchase insurance through a broker who may place part of our policies with AIG. Total insurance premiums were $3.7 million and $3.5 million for the six months ended June 30, 2011 and 2010, respectively.

Our financial statements include the following amounts involving related parties:


	Three Months Ended						Six Months Ended
	June 30, 2011			June 30, 2010			June 30, 2011			June 30, 2010
Income Statement	(Dollars in thousands)
Expense (income):
Interest expense on loans from AIG Funding	$	—		$	62,035			—		$	122,545
Effect from derivatives on contracts with AIGFP novated to AIG Markets, Inc.		(1,223	)		(3,410	)		(965	)		(42,421	)
Interest on derivative contracts with AIGFP novated to AIG Markets, Inc.		16,270			27,145			33,836			54,204
Lease revenue related to hedging of lease receipts with AIGFP		—			—			—			224
Allocation of corporate costs from AIG		(10,246	)		1,617			(4,140	)		5,877
Management fees received		(2,305	)		(2,387	)		(4,545	)		(4,685	)
Management fees paid		24			114			52			354


				December 31,
Balance Sheet	June 30, 2011			2010
	(Dollars in thousands)
Asset (liability):
Derivative assets, net	$	206,196		$	58,187
Income taxes payable to AIG (a)		(142,442	)		(108,784	)
Accrued corporate costs payable to AIG		(21,954	)		(20,753	)


(a)		We paid approximately $26 million to AIG during the six months ended June 30, 2011.

Commitments and Contingencies

Guarantees

	•		Asset Value Guarantees: We have guaranteed a portion of the residual value of 20 aircraft to financial institutions and other unrelated third parties for a fee. These guarantees expire at various dates through 2023 and generally obligate us to pay the shortfall between the fair market value and the guaranteed value of the aircraft and provide us with an option to purchase the aircraft for the guaranteed value. At June 30, 2011, the maximum aggregate potential commitment that we were obligated to pay under such guarantees, without any offset for the projected value of the aircraft, was approximately $470 million.

	•		Aircraft Loan Guarantees: We guarantee two loans collateralized by aircraft to financial institutions. The guarantees expire in 2014, when the loans mature, and obligate us to pay an amount

-29-

INTERNATIONAL LEASE FINANCE CORPORATION AND SUBSIDIARIES
NOTES TO CONDENSED, CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
June 30, 2011
(Unaudited)

up to the guaranteed value upon the default of the borrower, which may be offset by a portion of the underlying value of the aircraft collateral. At June 30, 2011, the guaranteed value, without any offset for the projected value of the aircraft, was approximately $20 million.

Management regularly reviews the underlying values of the aircraft collateral to determine our exposure under these guarantees. The next strike date for asset value guarantees is in the fourth quarter of 2011. If called upon to perform under these contracts, our maximum exposure is approximately $9 million. We do not currently anticipate that we will be required to perform under any of the guarantees based upon the underlying values of the aircraft collateralized.

Legal Contingencies

•

Flash Airlines, Yemen Airways-Yemenia and Airblue Limited: We are named in lawsuits in connection with the 2004 crash of our Boeing 737-300 aircraft on lease to Flash Airlines, an Egyptian carrier; the 2009 crash of our Airbus A310-300 aircraft on lease to Yemen Airways-Yemenia, a Yemeni carrier; and the 2010 crash of our Airbus A320-200 aircraft on lease to Airblue Limited, a Pakistani carrier. These lawsuits were filed by the families of victims on the flights and seek unspecified damages for wrongful death, costs, and fees. The Flash Airlines litigation originally commenced in May 2004 in California, but all U.S. proceedings were dismissed in favor of proceedings in France where claims are pending before the Tribunal de Grande Instance civil courts in Bobigny and Paris. As of August 5, 2011, the parties are engaged in settlement negotiations. We believe that we have substantial defenses to this action and available liability insurance is adequate to cover our defense costs and any potential liability. The Yemen Airways litigation and the Airblue Limited litigation were filed in January 2011 and March 2011, respectively, in California Superior Court in Los Angeles County. We have been served with the complaints, and each litigation is in its incipient stage. While the plaintiffs have not specified any amount of damages, we believe that we are adequately covered by available liability insurance for both lawsuits and that we have substantial defenses to these actions. We do not believe that the outcome of any of these lawsuits will have a material effect on our consolidated financial condition, results of operations or cash flows.

We are also a party to various claims and litigation matters arising in the ordinary course of our business. We do not believe the outcome of any of these matters will be material to our consolidated financial position, results of operations or cash flows.

Variable Interest Entities

Our leasing and financing activities require us to use many forms of entities to achieve our business objectives and we have participated to varying degrees in the design and formation of these entities. Our involvement in VIEs varies and includes being a passive investor in the VIE with involvement from other parties, managing and structuring all activities of the VIE, and being the sole shareholder of the VIE. See Note G — Debt Financings for more information on entities created for the purpose of obtaining financing.

Investment Activities

We have variable interests in ten entities to which we previously sold aircraft. The interests include debt financings, preferential equity interests and, in some cases, providing guarantees to banks which had provided the secured senior financings to the entities. Each entity owns one aircraft. The individual financing agreements are cross-collateralized by the aircraft. Because we do not control the activities which significantly impact the economic performance of the entities, we do not consolidate the entities into our condensed, consolidated financial statements. We have a credit facility with these entities to provide financing up to approximately $13.5 million, of which approximately $7.6 million was borrowed at June 30, 2011. The

-30-

INTERNATIONAL LEASE FINANCE CORPORATION AND SUBSIDIARIES
NOTES TO CONDENSED, CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
June 30, 2011
(Unaudited)

maximum exposure to loss for these entities is approximately $19 million, which is the combined net carrying value of this investment and maximum borrowings available under the credit facility at June 30, 2011.

Non-Recourse Financing Structures

We continue to consolidate one entity in which ILFC has a variable interest that was established to obtain secured financing for the purchase of an aircraft. ILFC provided $39.0 million of subordinated financing to the entity and the entity borrowed $106.0 million from third parties, $82.0 million of which is non-recourse to ILFC. The entity owns one aircraft with a net book value of $134.7 million at June 30, 2011. We have determined that we are the primary beneficiary of this entity because we control and manage all aspects of this entity, including directing the activities that most significantly affect the entity’s economic performance, and we absorb the majority of the risks and rewards of this entity.

We also consolidate a wholly-owned subsidiary we created for the purpose of obtaining secured financing for an aircraft. The entity meets the definition of a VIE because it does not have sufficient equity to operate without ILFC’s subordinated financial support in the form of intercompany notes, which serve as equity even though they are legally debt instruments. This entity borrowed $55.4 million from a third party. The loan is non-recourse to ILFC and is secured by the aircraft and the lease receivables. The entity owns one aircraft with a net book value of $89.8 million at June 30, 2011. We have determined that we are the primary beneficiary of this entity because we control and manage all aspects of this entity, including directing the activities that most significantly affect the entity’s economic performance, and we absorb the majority of the risks and rewards of this entity.

Wholly-Owned ECA Financing Vehicles

We have created certain wholly-owned subsidiaries for the purpose of purchasing aircraft and obtaining financing secured by such aircraft. The secured debt is guaranteed by the European ECAs. The entities meet the definition of a VIE because they do not have sufficient equity to operate without ILFC’s subordinated financial support in the form of intercompany notes, which serve as equity even though they are legally debt instruments. We control and manage all aspects of these entities, including directing the activities that most significantly affect the entity’s economic performance, we absorb the majority of the risks and rewards of these entities and we guarantee the activities of these entities. These entities are therefore consolidated into our condensed, consolidated financial statements.

Other Secured Financings

We have created a number of wholly-owned subsidiaries for the purpose of obtaining secured financings. The entities meet the definition of a VIE because they do not have sufficient equity to operate without ILFC’s subordinated financial support in the form of intercompany notes, which serve as equity even though they are legally debt instruments. One of the entities borrowed $550 million from third parties and a portfolio of 37 aircraft will be transferred from ILFC to the subsidiaries of the entity to secure the loan. We control and manage all aspects of these entities, including directing the activities that most significantly affect the entity’s economic performance, we absorb the majority of the risks and rewards of these entities and we guarantee the activities of these entities. These entities are therefore consolidated into our condensed, consolidated financial statements. See Note G — Debt Financings for more information on these financings.

Wholly-Owned Leasing Entities

We have created wholly-owned subsidiaries for the purpose of facilitating aircraft leases with airlines. The entities meet the definition of a VIE because they do not have sufficient equity to operate without ILFC’s subordinated financial support in the form of intercompany loans, which serve as equity even though they are legally debt instruments. We control and manage all aspects of these entities, including directing the activities that most significantly affect the entity’s economic performance, we absorb the majority of the risks and

-31-

INTERNATIONAL LEASE FINANCE CORPORATION AND SUBSIDIARIES
NOTES TO CONDENSED, CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
June 30, 2011
(Unaudited)

rewards of these entities and we guarantee the activities of these entities. These entities are therefore consolidated into our condensed, consolidated financial statements.

Other Expenses

Three Months Ended June 30, 2011 and 2010

For the three month periods ended June 30, 2011 and 2010, Other expenses consist primarily of lease charges related to aircraft reclassified to or from Flight equipment held for sale.

Six Months Ended June 30, 2011 and 2010

For the six months ended June 30, 2011, we recognized a $20 million expense related to the cancellation of an aircraft engine order. We eliminated the economic effect of the $20 million expense by negotiating with our manufacturer vendors to recover these costs. The recovery will be in two payments. One of these payments is related to a 2007 agreement with one manufacturer for us to extend our evaluation period of aircraft under order until at least 2010. This payment is contingent upon our cancelling of the aircraft order and is not contingent on placing any new order with the manufacturer. As a result of the cancellation of such aircraft order in March 2011, we recorded the related payment receivable of $10 million in Interest and other in the Condensed, Consolidated Statement of Income for the six months ended June 30, 2011. The second payment of $10 million is related to an agreement with another manufacturer, which among other contractual terms, includes a provision to reimburse us for the remaining costs associated with the March 2011 order cancellation. The reimbursement payment will be recognized as a reduction of the cost basis of future aircraft deliveries, as we determined the payment to be connected with the purchase of such aircraft. In addition to this charge, for the six months ended June 30, 2011, Other expenses include $12.2 million resulting from the write down of two notes receivable, partially offset by approximately $2.5 million aggregate lease related income, net of lease charges.

For the six months ended June 30, 2010, Other expenses consist of lease related costs we expensed as a result of agreements with third parties to sell aircraft subject to operating leases.

Subsequent Event

On August 2, 2011, we entered into a stock purchase agreement with AerCap, Inc. (“AerCap”) and AerCap Holdings N.V. to acquire all of the issued and outstanding shares of capital stock of AeroTurbine, Inc., a wholly-owned direct subsidiary of AerCap (“AeroTurbine”), for an aggregate cash purchase price of $228 million. In connection with the acquisition, we have also agreed to guarantee AeroTurbine’s $425 million secured revolving credit facility. There was approximately $298.6 million outstanding under this facility as of July 31, 2011.

The closing of this acquisition is currently expected to occur during 2011 and is subject to the satisfaction of several customary closing conditions, including applicable antitrust approvals.

-32-


ITEM 2.		MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

Cautionary Statement Regarding Forward-looking Information

This quarterly report on Form 10-Q and other publicly available documents may contain or incorporate statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Those statements appear in a number of places in this Form 10-Q and include statements regarding, among other matters, the state of the airline industry, our access to the capital markets, our ability to restructure leases and repossess aircraft, the structure of our leases, regulatory matters pertaining to compliance with governmental regulations and other factors affecting our financial condition or results of operations. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and “should,” and variations of these words and similar expressions, are used in many cases to identify these forward-looking statements. Any such forward-looking statements are not guarantees of future performance and involve risks, uncertainties and other factors that may cause our actual results, performance or achievements, or industry results to vary materially from our future results, performance or achievements, or those of our industry, expressed or implied in such forward-looking statements. Such factors include, among others, general industry, economic and business conditions, which will, among other things, affect demand for aircraft, availability and creditworthiness of current and prospective lessees, lease rates, availability and cost of financing and operating expenses, governmental actions and initiatives, and environmental and safety requirements, as well as the factors discussed under “Part II — Item 1A. Risk Factors,” in this Form 10-Q. We do not intend and undertake no obligation to update any forward-looking information to reflect actual results or future events or circumstances.

Overview

We generate the majority of our revenues from leasing new and used commercial jet aircraft to foreign and domestic airlines. We also generate revenues from: (i) remarketing commercial jet aircraft for our own account when we sell our leased aircraft at or before the expiration of their leases; (ii) providing fleet management services, leasing, re-leasing and sales services on behalf of the owner of aircraft; and (iii) fees received in exchange for providing asset value guarantees on aircraft and, in limited circumstances, loan guarantees to buyers of aircraft or to financial institutions.

Operating Results

We reported a decrease in net income of approximately $38.1 million for the three months ended June 30, 2011, as compared to the same period in 2010, primarily due to a loss on extinguishment of debt related to the tender offers we completed in June 2011, which was partially offset by lower aircraft impairment charges. For the six months ended June 30, 2011, net income increased by $98.6 million as compared to the same period in 2010, primarily due to lower aircraft impairment and lease related charges and lower depreciation expense, offset by higher interest expense and loss on extinguishment of debt.

Our Fleet

During the six months ended June 30, 2011, we had the following activity related to Flight equipment under operating leases:


	Number of
	Aircraft
Flight equipment under operating leases at December 31, 2010		933
Aircraft purchases		4
Aircraft sold from Flight equipment under operating leases		(5	)
Aircraft designated for part-out		(1	)
Aircraft transferred from Flight equipment held for use to Flight equipment held for sale		(1	)
Aircraft transferred from Flight equipment held for sale to Flight equipment held for use		3

Flight equipment under operating leases at June 30, 2011		933

-33-

MANAGEMENT’S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATIONS (CONTINUED)

As of June 30, 2011, we owned 933 aircraft in our leased fleet, had four additional aircraft in the fleet classified as finance and sales-type leases, and provided fleet management services for 90 aircraft. The weighted average age of our fleet was 7.6 years at June 30, 2011. During 2011, we have contracted to purchase 80 A320neos and 20 A321neos from Airbus, canceled our previous A380 purchase commitments, and contracted to purchase 33 737-800 aircraft from Boeing. These orders bring our total future orders of new aircraft to 236, for delivery through 2019 with an aggregate estimated purchase price of $17.6 billion. Two of these aircraft are scheduled to deliver during the remainder of 2011. We also have the rights to purchase an additional 50 A320neo Family aircraft. Currently we are considering purchasing new aircraft from airlines and leasing them back to the airlines and intend to complete at least one such transaction in 2011. We anticipate financing future aircraft purchases in part by operating cash flows and in part by incurring additional debt.

During the three and six months ended June 30, 2011 and 2010, we recorded the following aircraft impairment charges and fair value adjustments:


	Three Months Ended									Six Months Ended
	June 30, 2011				June 30, 2010					June 30, 2011					June 30, 2010
	Aircraft		Impairment		Aircraft			Impairment		Aircraft		Impairment			Aircraft		Impairment
	Impaired		Charges and		Impaired			Charges and		Impaired		Charges and			Impaired		Charges and
	or		Fair Value		or			Fair Value		or		Fair Value			or		Fair Value
	Adjusted		Adjustments		Adjusted			Adjustments		Adjusted		Adjustments			Adjusted		Adjustments
	(Dollars in millions)
Loss/(Gain)
Impairment charges and fair value adjustments on aircraft likely to be sold or sold		5	$	41.1		—	(b)	$	0.5		14	$	148.1			2	$	32.7
Fair value adjustments on held for sale aircraft sold or transferred from held for sale back to flight equipment under operating leases (a)		2		2.7		6			40.1		10		(3.5	)		56		361.3
Impairment charges on aircraft designated for part-out		—		—		1			12.4		1		2.5			1		12.4

Total Impairment charges and fair value adjustments on flight equipment		7	$	43.8		7		$	53.0		25	$	147.1			59	$	406.4


(a)		Included in these amounts are net fair value credit adjustments related to aircraft previously held for sale, but which no longer met such criteria and were subsequently reclassified to Flight equipment under operating leases. Also included in these amounts are fair value credit adjustments related to sales price adjustments related to aircraft that were previously held for sale and sold during periods presented.

(b)		Amounts relate to two aircraft that were previously impaired, but additional fair value adjustments were recorded in the current period.

We continue to manage our fleet by ordering new aircraft with high customer demand and through potential sales or part-outs of our older aircraft which cannot be economically leased to follow on customers. Any sale of aircraft may result in an accounting loss because the market for used aircraft is depressed due to the introduction of new and more fuel efficient aircraft models, the economic downturn, and limited availability of buyer financing. As new and more fuel efficient aircraft enter the marketplace and negatively affect the demand for older aircraft, lease rates on older aircraft may deteriorate and we may incur additional impairment charges on older aircraft remaining

-34-

MANAGEMENT’S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATIONS (CONTINUED)

in our fleet. The potential for impairment or fair value adjustments could be material to our results of operations for an individual period.

Debt Financing

New Financing Arrangements: During the three months ended June 30, 2011, we continued to improve our liquidity position by issuing $2.25 billion of unsecured notes with maturity dates in 2016 and 2019 under our shelf registration statement. We used a portion of these proceeds to complete cash tender offers for notes with original maturity dates through 2013 and an aggregate principal amount of approximately $1.7 billion, as further discussed below under Liquidity.

Cost of Borrowing

While our cost of borrowing is increasing as we refinance our existing debt with new financing arrangements, reflecting relatively higher interest rates caused by our current long-term debt ratings, our margins are improving due to our deleveraging. Our average composite interest rate and our average debt outstanding were as follows for the following periods:


	Three Months Ended
	June 30,			December 31,			June 30,
	2011			2010			2010
	(Dollars in thousands)
Average Composite Interest Rate		5.90	%		5.42	%		4.88	%
Average Debt Outstanding	$	25,782		$	28,822		$	31,986

Industry Condition and Sources of Revenue

Our revenues are principally derived from scheduled and charter airlines and companies associated with the airline industry. We derive more than 90% of our revenues from airlines outside of the United States. The airline industry is cyclical, economically sensitive, and highly competitive. Airlines and related companies are affected by fuel prices and shortages, political or economic instability, natural disasters, terrorist activities, changes in national policy, competitive pressures, labor actions, pilot shortages, insurance costs, recessions, health concerns and other political or economic events adversely affecting world or regional trading markets. Our customers’ ability to react to and cope with the volatile competitive environment in which they operate, as well as our own competitive environment, will affect our revenues and income.

The Middle East and Northern Africa have recently experienced political unrest. We have 63 aircraft on lease in the region. The unrest has had no significant impact on our operating results to date and we continue to closely monitor the region.

During the six months ended June 30, 2011, fuel prices increased dramatically, which may put downward pressure on demand and lease rates for used aircraft. Although we currently still see robust demand for our new aircraft, we believe airline profitability and aircraft lease rates on older aircraft will remain vulnerable to increasing fuel costs and other political and economic disruptions through the remainder of 2011.

One of our customers, P.T. Mandala Airlines (“Mandala”), that operated two of our owned aircraft, ceased operations on January 13, 2011. At June 30, 2011, we had leased both aircraft to other airlines. In total, we had two aircraft in our fleet that were not subject to a signed lease agreement or a signed letter of intent at June 30, 2011.

-35-

MANAGEMENT’S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATIONS (CONTINUED)

We typically contract to re-lease aircraft before the end of the existing lease term. For aircraft returned before the end of the lease term, we have generally been able to re-lease aircraft within two to six months of their return. There are lags between changes in market conditions and their impact on our results, as contracts not yet reflecting current lease rates remain in effect. Therefore, the current market conditions and any potential effect they may have on our results may not be fully reflected in our current results.

Management monitors all lessees that are behind in lease payments, and discusses relevant operational and financial issues facing the lessees with our marketing executives, in order to determine the amount of rental income to recognize for the past due amounts. Lease payments are due in advance and we generally recognize rental income only to the extent we have received payments or hold security deposits. At June 30, 2011, 13 customers operating 42 aircraft were two or more months past due on $24.2 million of lease payments relating to some of those aircraft. Of this amount, we recognized $22.4 million in rental income through June 30, 2011. In comparison, at June 30, 2010, 14 customers operating 51 aircraft were two or more months past due on $19.9 million of lease payments relating to some of those aircraft, $14.7 million of which we recognized in rental income through June 30, 2010.

Management also reviews all outstanding notes that are in arrears to determine whether we should reserve for, or write off any portion of, the notes receivable. In this process, management evaluates the collectability of each note and the value of the underlying collateral, if any, by discussing relevant operational and financial issues facing the lessees with our marketing executives. As of June 30, 2011, amounts in arrears were immaterial.

Despite industry cyclicality, the adverse demand shocks from recent political unrest and natural disasters and potential financial stress caused by the increase in fuel prices, we are optimistic about the long-term future of air transportation and, more specifically, the growing role that the leasing industry, and ILFC specifically, provides in the fleet transactions necessary to facilitate the growth of commercial air transport. At June 30, 2011, we had signed leases for all of our new aircraft deliveries through 2012. Furthermore, we have contracted with Airbus and Boeing to purchase new fuel efficient aircraft with delivery dates through 2019. For these reasons, we believe we are well positioned to manage the current cycle and for the long-term future.

Agreement to Acquire AeroTurbine

The closing of this acquisition is currently expected to occur during 2011 and is subject to the satisfaction of several customary closing conditions, including applicable antitrust approvals.

Liquidity

During 2011, our liquidity management strategy is to better align our future debt maturities more closely with future operating cash flows. Consistent with this strategy, we used approximately $1.75 billion of the approximately $2.2 billion net proceeds generated from the issuance of $2.25 billion of unsecured notes with maturity dates in 2016 and 2019 to purchase existing notes maturing in 2012 and 2013 with an aggregate principal amount of approximately $1.67 billion through tender offers we completed on June 17, 2011.

During the six months ended June 30, 2011, we entered into a new three-year $2.0 billion unsecured revolving credit facility and, through a non-restricted subsidiary, we entered into a secured term loan agreement for approximately $1.3 billion, which was subsequently increased to approximately $1.5 billion of lender commitments.

-36-

MANAGEMENT’S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATIONS (CONTINUED)

The $1.5 billion becomes available to us as we transfer aircraft into certain non-restricted subsidiaries. The obligations of the subsidiary borrower under the secured term loan agreement are guaranteed on an unsecured basis by ILFC and on a secured basis by the subsidiaries holding the aircraft, as described in greater detail under “Debt Financings — Other Secured Financing Arrangements.” At August 5, 2011, we had not drawn on our unsecured revolving credit agreement and funds aggregating $696 million had been advanced to the subsidiary borrower under the secured term loan. In addition, we issued $2.25 billion aggregate principal amount of notes due in 2016 and 2019 under our shelf registration statement.

We generated cash flows from operations of approximately $1.2 billion for the six months ended June 30, 2011. During the six months ended June 30, 2011, we repaid approximately $2.8 billion of maturing debt and repaid an additional $200 million under our credit facility dated as of October 13, 2006, with current maturity dates in October 2011 and 2012. We had approximately $2.1 billion in cash and cash equivalents that remained available for use in our operations at June 30, 2011. We also had approximately $421 million of cash restricted from use in our operations at June 30, 2011, $24 million of which will become available to us as we fulfill certain collateral requirements, as described elsewhere herein.

Any new issuance of debt by us or our subsidiaries will be subject to the consent of the Department of the Treasury if, after giving effect to the incurrence of the debt and use of proceeds therefrom, we increase our net indebtedness by more than $1 billion compared to the same date in the previous year, or compared to December 8, 2010, if the measurement is made before December 8, 2011. We cannot predict whether the Department of the Treasury will consent to us incurring debt in excess of this amount. Our bank credit facilities and indentures also limit our ability to incur secured indebtedness. The most restrictive covenant in our bank credit facilities permits us and our subsidiaries to incur secured indebtedness totaling up to 30% of our consolidated net tangible assets, as defined in the credit agreement, minus $2.0 billion, which limit currently totals approximately $10.0 billion. As of August 5, 2011, we were able to incur an additional $4.1 billion of secured indebtedness under this covenant. Our debt indentures also restrict us and our subsidiaries from incurring secured indebtedness in excess of up to 12.5% of our consolidated net tangible assets, as defined in the indentures. However, we may obtain secured financing without regard to the 12.5% consolidated net tangible asset limit under our indentures by doing so through subsidiaries that qualify as non-restricted under such indentures.

In addition to addressing our liquidity needs through debt financings, we may also pursue potential aircraft sales in connection with our ongoing fleet strategy. During the six months ended June 30, 2011, we sold 11 aircraft for approximately $235 million in gross proceeds. In evaluating potential sales, we balance the need for funds with the long-term value of holding aircraft and our long-term prospects. Furthermore, we would need approval from the Department of the Treasury if we entered into sales transactions with aggregate consideration exceeding $2.5 billion during any twelve month period. We cannot predict whether the Department of the Treasury would consent to any future aircraft sales if their consent were required.

We believe the sources of liquidity mentioned above, together with our cash generated from operations, will be sufficient to operate our business and repay our debt maturities for at least the next twelve months.

Our Relationship with AIG

Potential Change in Ownership

AIG is considering strategic alternatives for ILFC, which may include a potential sale, spinoff or initial public offering. If AIG sells more than 49% of our common stock without certain lenders’ consent, it would be an event of default under our credit agreement maturing in October 2011 and 2012 and would allow our lenders to declare such debt immediately due and payable. Accordingly, any plans to sell us by AIG prior to October 2012 would require consideration of this credit arrangement, under which $1.3 billion was outstanding at August 5, 2011. In addition, an event of default or declaration of acceleration under this credit agreement could also result in an event of default or declaration of acceleration under our other debt agreements, including the indentures.

-37-

MANAGEMENT’S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATIONS (CONTINUED)

AIG Loans from the FRBNY and Department of the Treasury

In September 2008, liquidity issues resulted in AIG seeking and receiving governmental support through the FRBNY Credit Agreement and TARP funding from the Department of the Treasury, as more fully described in AIG’s Annual Report on Form 10-K for the year ended December 31, 2010. On January 14, 2011, AIG was recapitalized and the FRBNY Credit Agreement was repaid and terminated through a series of transactions, including the Master Transaction Agreement discussed below, that resulted in the Department of the Treasury becoming AIG’s majority shareholder with ownership of approximately 92% of AIG’s outstanding common stock. In May 2011, the Department of the Treasury sold a portion of AIG’s common stock in a public offering and the Department of the Treasury currently owns approximately 77% of AIG’s outstanding common stock following such sale. AIG understands that, subject to market conditions, the Department of the Treasury intends to dispose of its ownership interest in AIG over time.

AIG Recapitalization and the Master Transaction Agreement

On January 14, 2011, pursuant to the Master Transaction Agreement, AIG completed a series of integrated transactions to recapitalize AIG with the Department of the Treasury, the FRBNY and the AIG Credit Facility Trust, including the repayment of all amounts owed under the FRBNY Credit Facility. The recapitalization transactions are more fully described in ILFC’s and AIG’s Annual Reports on Form 10-K for the year ended December 31, 2010.

Designated Entity Consent Rights: Pursuant to the Master Transaction Agreement, until certain amounts are repaid to the Department of the Treasury, ILFC will be required to get the Department of the Treasury’s consent in order to take specified significant actions, which include (i) amending or waiving any provisions of our articles of incorporation, bylaws, or similar organizational document in a manner that would adversely affect, in any material respect, the rights of our equity interests; (ii) authorizing or issuing any equity interests, unless to AIG or a wholly-owned subsidiary of AIG; (iii) selling or disposing of assets for total consideration greater than or equal to $2.5 billion in any twelve-month period; (iv) acquiring assets after December 8, 2010, other than pursuant to existing purchase commitments at such date, with aggregate scheduled payments under the purchase contracts for such assets greater than or equal to $2.5 billion in any twelve-month period; (v) engaging in any public offering or other sale or transfer of our equity interests; (vi) voluntarily liquidating, filing for bankruptcy, or taking any other legal action evidencing insolvency; and (vii) increasing our net indebtedness by more than $1 billion compared to the same date in the previous year, or compared to December 8, 2010, if the measurement is made before December 8, 2011.

Critical Accounting Policies and Estimates

Management’s discussion and analysis of our financial condition and results of operations are based upon our condensed, consolidated financial statements, which have been prepared in accordance with GAAP for interim financial information and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X. The preparation of our financial statements requires management to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent assets and liabilities.

We believe the following critical accounting policies could have a significant impact on our results of operations, financial position and financial statement disclosures, and may require subjective and complex estimates and judgments. For a detailed discussion on the application of these accounting policies, see Part II — Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations in our Annual Report on Form 10-K for the year ended December 31, 2010, and Note I of Notes to Condensed, Consolidated Financial Statements for fair value of flight equipment.

	•		Overhaul Rentals

	•		Flight Equipment

-38-

MANAGEMENT’S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATIONS (CONTINUED)

	•		Recoverability Assessment: In monitoring the aircraft in our fleet for impairment charges, we consider facts and circumstances, including potential sales, that would require us to modify our assumptions used in our recoverability assessments and prepare revised recoverability assessments as necessary.

	•		Recurring Recoverability Assessment: We identify those aircraft that are most susceptible to failing the recoverability assessment and monitor those aircraft more closely, which may result in more frequent recoverability assessments. The recoverability of these aircraft is sensitive to changes in contractual cash flows, future cash flow estimates and residual values. These are typically older aircraft that are less in demand and have lower lease rates. As of June 30, 2011, we had identified 44 aircraft as being susceptible to failing the recoverability test. These aircraft had a net book value of approximately $2.0 billion at June 30, 2011. All of these aircraft passed the recoverability assessment with aggregate undiscounted cash flows exceeding the carrying value of aircraft between 0.1% and 102.7%, which represents a 16.2% excess above the net carrying value of those aircraft. Management believes that the carrying values of these aircraft are supported by the estimated future undiscounted cash flows expected to be generated by each aircraft.

	•		Recoverability Assessment — Potential Sales: We recorded the following impairment charges and fair value adjustments for the six months ended June 30, 2011: (i) $148.1 million on certain aircraft held for use as a result of recoverability analysis performed on aircraft likely to be sold in future periods, and five aircraft sold during the period; (ii) $5.9 million on certain aircraft being either sold from Flight equipment held for sale, or certain aircraft transferred between Flight equipment held for sale and Flight equipment held for use; and (iii) $2.5 million related to one aircraft that was parted-out. These impairment charges and fair value adjustments were offset by (i) $3.3 million of net aggregate fair value credit adjustments recorded related to two other aircraft previously held for sale that were reclassified as held for use during the six months ended June 30, 2011 and (ii) $6.1 million aggregate fair value credit adjustments related to five aircraft previously held for sale and sold during the period. See Note E of Notes to Condensed, Consolidated Financial Statements.

	•		Flight Equipment Held for Sale

	•		Depreciable Lives and Residual Values

	•		Derivative Financial Instruments

	•		Fair Value Measurements

	•		Lease Revenue

	•		Income Taxes

Debt Financings

We generally fund our operations, including aircraft purchases, through available cash balances, internally generated funds, including aircraft sales, and debt financings. We borrow funds to purchase new and used flight equipment, make progress payments during aircraft construction and pay off maturing debt obligations. These funds are borrowed on both a secured and unsecured basis from various sources. During the six months ended June 30, 2011, we (i) issued $2.25 billion of unsecured notes under our shelf registration statement; (ii) entered into a new three-year $2.0 billion unsecured revolving credit facility; and (iii) entered into a secured term loan agreement with commitments of approximately $1.3 billion, which commitments were subsequently increased to approximately $1.5

-39-

MANAGEMENT’S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATIONS (CONTINUED)

billion, as further discussed below under Unsecured Bank Debt and Other Secured Financing Arrangements. At August 5, 2011, we had not drawn on the revolving credit facility and funds aggregating $696 million had been advanced to the subsidiary borrower under the secured term loan agreement.

Our debt financing was comprised of the following at June 30, 2011 and December 31, 2010:


	June 30,			December 31,
	2011			2010
	(Dollars in thousands)
Secured
Senior secured bonds	$	3,900,000		$	3,900,000
ECA financings		2,549,627			2,777,285
Bank debt (a)		1,601,973			1,601,658
Other secured financings		1,300,000			1,300,000
Less: Deferred debt discount		(19,901	)		(22,309	)

		9,331,699			9,556,634

Unsecured
Bonds and Medium-Term Notes		14,870,562			16,810,843
Bank debt		207,000			234,600
Less: Deferred debt discount		(42,977	)		(47,977	)

		15,034,585			16,997,466

Total Senior Debt Financings		24,366,284			26,554,100
Subordinated Debt		1,000,000			1,000,000

	$	25,366,284		$	27,554,100

Selected interest rates and ratios which include the economic effect of derivative instruments:
Composite interest rate		5.99	%		5.66	%
Percentage of total debt at fixed rates		78.08	%		79.30	%
Composite interest rate on fixed rate debt		6.08	%		6.38	%
Bank prime rate		3.25	%		3.25	%


(a)		Of this amount, $105.4 million (2011) and $113.7 million (2010) is non-recourse to ILFC. These secured financings were incurred by VIEs and consolidated into our condensed, consolidated financial statements.

For some of our secured debt financings, we created direct and indirect wholly-owned subsidiaries for the purpose of purchasing and holding title to aircraft, and we then pledged the equity of those subsidiaries as collateral. These subsidiaries have been designated as non-restricted subsidiaries under our indentures and meet the definition of a VIE. We have determined that we are the primary beneficiary of such VIEs and, accordingly, we consolidate such entities into our condensed, consolidated financial statements. See Note N of Notes to Condensed, Consolidated Financial Statements for more information on VIEs.

At June 30, 2011, approximately $21 billion of our flight equipment was pledged as collateral for the $9.3 billion of secured debt outstanding.

-40-

MANAGEMENT’S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATIONS (CONTINUED)

Our debt agreements contain various affirmative and restrictive covenants, as described in greater detail below. As of June 30, 2011, we were in compliance with the covenants in our debt agreements.

Senior Secured Bonds

On August 20, 2010, we issued $3.9 billion of senior secured notes, with $1.35 billion maturing in September 2014 and bearing interest of 6.5%, $1.275 billion maturing in September 2016 and bearing interest of 6.75%, and $1.275 billion maturing in September 2018 and bearing interest of 7.125%. The notes are secured by a designated pool of aircraft, initially consisting of 174 aircraft and their related leases. In addition, two of ILFC’s subsidiaries, which either own or hold leases of aircraft included in the pool securing the notes, have guaranteed the notes. We can redeem the notes at any time prior to their maturity, provided we give notification between 30 to 60 days prior to the intended redemption date and subject to a penalty of the greater of 1% of the outstanding principal amount and a “make-whole” premium. There is no sinking fund for the notes.

Export Credit Facilities

-41-

MANAGEMENT’S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATIONS (CONTINUED)

outstanding debt under the 2004 ECA facility). The segregated funds are deposited into separate accounts pledged to and controlled by the security trustee of the facility. In addition, we must register the existing individual mortgages on certain aircraft funded under both the 1999 and 2004 ECA facilities in the local jurisdictions in which the respective aircraft are registered (mortgages are only required to be filed on aircraft with loan balances outstanding or otherwise as agreed in connection with the cross-collateralization agreement as described below). At June 30, 2011, we had segregated security deposits, overhaul rentals and rental payments aggregating approximately $397 million related to aircraft funded under the 2004 ECA facility. The segregated amounts will fluctuate with changes in security deposits, overhaul rentals, rental payments and debt maturities related to the aircraft funded under the 2004 ECA facility.

Secured Bank Debt

The collateralization requirement under the amended facility provides that the $1.29 billion of secured loans must be secured by a lien on the equity interests of certain of ILFC’s non-restricted subsidiaries that own aircraft with aggregate appraised values of originally not less than 133% of the outstanding principal amount (the “Required Collateral Amount”). The credit facility includes an ongoing requirement, tested periodically, that the appraised value of the eligible aircraft owned by the pledged subsidiaries must be equal to or greater than 100% of the

-42-

MANAGEMENT’S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATIONS (CONTINUED)

Required Collateral Amount. This ongoing requirement is subject to the right to transfer additional eligible aircraft to the pledged subsidiaries or ratably prepay the loans. We also guarantee the secured loans through certain other subsidiaries.

We intend to use the proceeds from the secured term loan agreement entered into on March 30, 2011, described in more detail below, to prepay a portion of the amounts outstanding under this credit facility.

-43-

MANAGEMENT’S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATIONS (CONTINUED)

Other Secured Financing Arrangements

Unsecured Bonds and Medium-Term Notes

Tender Offers to Purchase Notes: On June 17, 2011, we completed the above mentioned tender offers and accepted for purchase previously issued notes with an aggregate principal amount of approximately $1.67 billion, resulting in total cash consideration, including accrued and unpaid interest, of approximately $1.75 billion. In connection with the cancellation of the notes, we recognized losses aggregating approximately $61.1 million, which included the cost of repurchasing the notes and the write off of the remaining unamortized deferred financing costs. See Note G of Notes to Condensed, Consolidated Financial Statements for further information.

-44-

MANAGEMENT’S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATIONS (CONTINUED)

A rollforward for the six months ended June 30, 2011, of the foreign currency adjustment related to foreign currency denominated notes is presented below:


	(Dollars in thousands)
Foreign currency adjustment related to foreign currency denominated debt at December 31, 2010	$	165,400
Foreign currency period adjustment of non-US$ denominated debt		116,200

Foreign currency adjustment related to foreign currency denominated debt at June 30, 2011	$	281,600

-45-

MANAGEMENT’S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATIONS (CONTINUED)

Unsecured Bank Debt

As of June 30, 2011, $207.0 million of unsecured loans were outstanding under our credit agreement dated as of October 13, 2006. These loans remain unsecured and mature on October 13, 2011, on the original maturity date for this credit facility. The interest on the loans is based on LIBOR plus a margin of 0.65% plus facility fees of 0.2% of the outstanding balance. The remaining outstanding loans under the agreement, as amended, are secured. See Secured Bank Debt above.

Subordinated Debt

Derivatives

We employ derivative products to manage our exposure to interest rates risks and foreign currency risks. We enter into derivative transactions only to economically hedge interest rate risk and currency risk and not to speculate on interest rates or currency fluctuations. These derivative products include interest rate swap agreements, foreign currency swap agreements and interest rate cap agreements. At June 30, 2011, all our interest rate swap and foreign currency swap agreements were designated as and accounted for as cash flow hedges and we had not designated our interest rate cap agreements as hedges.

When interest rate and foreign currency swaps are effective as cash flow hedges, they offset the variability of expected future cash flows, both economically and for financial reporting purposes. We have historically used such instruments to effectively mitigate foreign currency and interest rate risks. The effect of our ability to apply hedge accounting for the swap agreements is that changes in their fair values are recorded in OCI instead of in earnings for each reporting period. As a result, reported net income will not be directly influenced by changes in interest rates and currency rates.

The counterparty to our interest rate swaps and foreign currency swaps at June 30, 2011, is AIG Markets, Inc., a wholly-owned subsidiary of AIG. The swap agreements are subject to a bilateral security agreement and a master netting agreement, which would allow the netting of derivative assets and liabilities in the case of default under any one contract. Failure of the counterparty to perform under the derivative contracts would have a material impact on our results of operations and cash flows. The counterparty to our interest rate cap agreements is an independent third party with whom we do not have a master netting agreement.

-46-

MANAGEMENT’S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATIONS (CONTINUED)

Credit Ratings

Because of our current long-term debt ratings, the 2004 ECA facility imposes the following restrictions: (i) we must segregate all security deposits, overhaul rentals and rental payments related to the aircraft financed under our 2004 ECA facility into separate accounts controlled by the security trustee (segregated rental payments are used to make scheduled principal and interest payments on the outstanding debt) and (ii) we must file individual mortgages on the aircraft funded under both the 1999 and 2004 ECA facilities in the local jurisdictions in which the respective aircraft are registered.

While a ratings downgrade does not result in a default under any of our debt agreements, it could adversely affect our ability to issue debt and obtain new financings, or renew existing financings, and it would increase the cost of such financings.

The following table summarizes our current ratings by Fitch, Moody’s and S&P, the nationally recognized rating agencies:

Unsecured Debt Ratings

Rating Agency

Long-term Debt

Corporate Rating

Outlook

Date of Last Ratings Action

Fitch

Stable

June 2, 2011

Moody’s

Positive

May 12, 2011

S&P

BBB-

Stable

May 19, 2011

Secured Debt Ratings

$3.9 Billion

Rating Agency

$750 Million Term Loan

$550 Million Term Loan

Senior Secured Notes

Fitch

BBB-

Moody’s

Ba2

Ba3

S&P

BBB

BBB-

These credit ratings are the current opinions of the rating agencies. As such, they may be changed, suspended or withdrawn at any time by the rating agencies as a result of various circumstances including changes in, or unavailability of, information.

-47-

MANAGEMENT’S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATIONS (CONTINUED)

Existing Commitments

The following table summarizes our contractual obligations at June 30, 2011:


					Commitments Due by Fiscal Year
	Total		2011		2012		2013		2014		2015		Thereafter
					(Dollars in thousands)
Bonds and medium-term notes	$	14,870,562	$	1,881,688	$	2,017,613	$	3,421,375	$	1,039,786	$	1,260,100	$	5,250,000
Unsecured Bank Loans		207,000		207,000		—		—		—		—		—
Senior Secured Bonds		3,900,000		—		—		—		1,350,000		—		2,550,000
Secured Bank Loans		1,601,973		7,061		1,321,487		34,109		54,863		28,516		155,937
ECA Financings		2,549,627		214,480		428,960		428,960		423,862		335,794		717,571
Other Secured Financings		1,300,000		—		—		—		—		750,000		550,000
Subordinated Debt		1,000,000		—		—		—		—		—		1,000,000
Interest Payments on Debt Outstanding (a)(b)		9,568,076		766,173		1,398,311		1,213,466		1,007,593		829,099		4,353,434
Operating Leases (c)(d)		58,765		6,252		12,851		14,147		14,558		10,259		698
Pension Obligations (e)		9,770		1,539		1,577		1,639		1,676		1,676		1,663
Purchase Commitments		17,652,100		87,400		435,800		1,015,100		1,625,300		2,477,900		12,010,600

Total	$	52,717,873	$	3,171,593	$	5,616,599	$	6,128,796	$	5,517,638	$	5,693,344	$	26,589,903

Contingent Commitments


	Contingency Expiration by Fiscal Year
	Total		2011		2012		2013		2014		2015		Thereafter
					(Dollars in thousands)
AVGs (f)	$	490,164	$	8,880	$	37,950	$	96,003	$	34,717	$	157,132	$	155,482

Total (g)	$	490,164	$	8,880	$	37,950	$	96,003	$	34,717	$	157,132	$	155,482


(a)		Future interest payments on floating rate debt are estimated using floating interest rates in effect at June 30, 2011.

(b)		Includes the effect of interest rate and foreign currency derivative instruments.

(c)		Excludes fully defeased aircraft sale-lease back transactions.

(d)		Minimum rentals have not been reduced by minimum sublease rentals of $5.8 million receivable in the future under non-cancellable subleases.

(e)		Our pension obligations are part of intercompany expenses, which AIG allocates to us on an annual basis. The amount is an estimate of such allocation. The column “2011” consists of total estimated allocations for 2011 and the column “Thereafter” consists of the 2016 estimated allocation. The amount allocated has not been material to date.

(f)		From time to time, we participate with airlines, banks and other financial institutions in the financing of aircraft by providing asset guarantees, put options or loan guarantees collateralized by aircraft. As a result, should we be called upon to fulfill our obligations, we would have recourse to the value of the underlying aircraft.

(g)		Excluded from total contingent commitments are $263.1 million of uncertain tax liabilities and any effect of net tax liabilities. The future cash flows to these liabilities are uncertain and we are unable to make reasonable estimates of the outflows.

-48-

MANAGEMENT’S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATIONS (CONTINUED)

Off-Balance-Sheet Arrangements

We have not established any unconsolidated entities for the purpose of facilitating off-balance sheet arrangements or for other contractually narrow or limited purposes. We have, however, from time to time established subsidiaries, entered into joint ventures or created other partnership arrangements or trusts with the limited purpose of leasing aircraft or facilitating borrowing arrangements. See Note N of Notes to Condensed, Consolidated Financial Statements for more information regarding our involvement with VIEs.

Results of Operations

Income before Income Taxes for the Three and Six Months Ended June 30, 2011 Versus 2010

Our income before income taxes decreased by approximately $68.3 million for the three month period ended June 30, 2011, as compared to the same period in 2010. This decrease was primarily due to the following factors:

	•		A decrease in rental revenue of approximately 4.5% due to a net decrease in our fleet to 933 aircraft at June 30, 2011, as compared to 946 aircraft at June 30, 2010, as a result of aircraft sales and lower lease rates on used aircraft.

	•		A $61.1 million loss on extinguishment of debt in 2011 as a result of the tender offers we completed in June 2011.

The decreases were partially offset by lower impairment charges and fair value adjustments.

Our income before income taxes increased approximately $147.7 million for the six month period ended June 30, 2011, as compared to the same period in 2010, because lower impairment charges and fair value adjustments in 2011 offset the above factors. See below for a more detailed discussion of the effects of each item affecting income for the three and six months ended June 30, 2011, as compared with the same periods in 2010.

Three Months Ended June 30, 2011 Versus 2010

Revenues from rentals of flight equipment decreased 4.5% to $1,111.5 million for the three months ended June 30, 2011, from $1,163.8 million for the same period in 2010. The average number of aircraft in our fleet decreased to 933 at June 30, 2011, compared to 970 at June 30, 2010, primarily due to reclassification of aircraft to Flight equipment held for sale and sales of aircraft from our leased fleet. Revenues from rentals of flight equipment decreased by (i) $35.4 million due to a decrease in lease rates on aircraft in our fleet during both periods, that were re-leased or had lease rates change between the two periods; (ii) $21.2 million due to aircraft in service during the three months ended June 30, 2010, and sold prior to June 30, 2011; and (iii) $11.8 million due to lost revenue relating to aircraft in transition between lessees primarily resulting from repossessions of aircraft. These revenue decreases were partly offset by increases of (i) $10.2 million due to an increase in the aggregate number of hours flown on which we collect overhaul revenue; and (ii) $5.9 million due to the addition of four new aircraft to our fleet after June 30, 2010, and aircraft in our fleet as of June 30, 2010, that earned revenue for a greater number of days during the three months ended June 30, 2011, than during the same period in 2010.

Two aircraft in our fleet were not subject to a signed lease agreement or a signed letter of intent at June 30, 2011.

In addition to our leasing operations, we engage in the marketing of our flight equipment throughout the lease term, as well as the sale of third party owned flight equipment and other marketing services on a principal and commission basis. Flight equipment marketing and gain on aircraft sales consisted primarily of sales of aircraft parts and remained relatively constant between the periods.

-49-

MANAGEMENT’S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATIONS (CONTINUED)

Interest and other revenue increased to $11.9 million for the three months ended June 30, 2011, compared to $8.8 million for the same period in 2010 due to (i) a $7.0 million increase in foreign exchange gain, net of losses; and (ii) a $2.2 million increase in payment from bankruptcy claims. These increases were partially offset by (i) a decrease in interest and dividend revenue of $4.4 million driven by a decrease in our notes receivable principal balance; (ii) a $0.8 million decrease in forfeitures of security deposits due to lessees’ non-performance under leases; and (iii) other minor fluctuations aggregating a decrease of $0.9 million.

Interest expense remained relatively constant at $407.1 million for the three months ended June 30, 2011, compared to $407.7 million for the same period in 2010. Our average composite interest rate increased 1.02% between the two periods, offset by a decrease in average debt outstanding (excluding the effect of debt discount and foreign exchange adjustments) to $25.8 billion during the three months ended June 30, 2011, compared to $32.0 billion during the same period in 2010.

Our composite borrowing rates in the second quarters of 2011 and 2010, which include the effect of derivatives, were as follows:


	2011			2010			Increase
Beginning of Quarter		5.80	%		4.69	%		1.11	%
End of Quarter		5.99	%		5.07	%		0.92	%
Average		5.90	%		4.88	%		1.02	%

We recorded derivative related charges aggregating $1.5 million for the three months ended June 30, 2011, as compared to $4.8 million for the same period in 2010, primarily related to ineffectiveness of derivatives designated as cash flow hedges. (See Note H of Notes to Condensed, Consolidated Financial Statements.)

During the three months ended June 30, 2011, we issued unsecured senior notes and used a portion of the proceeds from these notes in cash tender offers to repurchase existing outstanding notes, incurring a loss of $61.1 million from the early extinguishment of debt. See Note G of Notes to Condensed, Consolidated Financial Statements.

Depreciation of flight equipment decreased 3.4% to $459.7 million for the three months ended June 30, 2011, compared to $475.7 million for the same period in 2010, due to a decrease in the cost of our fleet held for use from $40.8 billion at June 30, 2010 to $37.7 billion at June 30, 2011. The decrease in the cost of our fleet held for use was due to a combination of sales of aircraft and impairment charges to our fleet.

Aircraft impairment charges and fair value adjustments on flight equipment sold or to be disposed aggregated $43.8 million on seven aircraft for the three months ended June 30, 2011, compared to $53.0 million on seven aircraft for the same period in 2010. The decrease was primarily due to higher impairment charges recorded during the three months ended June 30, 2010, due to the part-out of an aircraft. We did not part any aircraft out during the three months ended June 30, 2010. See Note E of Notes to Condensed, Consolidated Financial Statements. During the three months ended June 30, 2011, we did not incur any charges related to Aircraft impairment on flight equipment held for use, compared to charges of $8.1 million for the same period in 2010.

Selling, general and administrative expenses increased to $43.1 million for the three months ended June 30, 2011, compared to $41.0 million for the same period in 2010 due to (i) an increase in aircraft related costs of $5.0 million from the addition of aircraft in our leased fleet; (ii) an increase of $5.2 million relating to professional costs in connection with strategic initiatives; and (iii) an increase in retention bonuses of $3.6 million. These increases were partially offset by (i) an $11.3 million decrease in salaries and employee related expenses, $8.1 million of which was due to an out of period adjustment principally relating to the forfeiture of share-based deferred compensation awards for certain employees that terminated their employment with us in 2010 (see Note A of Notes

-50-

MANAGEMENT’S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATIONS (CONTINUED)

to Condensed, Consolidated Financial Statements for more information on the out of period adjustment); and (ii) other minor fluctuations aggregating a decrease of $0.4 million.

Other expenses consists primarily of lease related charges and decreased by $4.7 million for the three months ended June 30, 2011, compared to the same period in 2010. The decrease is primarily due to the transfer of one aircraft from Flight equipment held for sale to Flight equipment held for use during the three months ended June 30, 2011, when the aircraft no longer met the criteria for held for sale, resulting in a reversal of lease related charges.

Our effective tax rate for the quarter ended June 30, 2011, decreased to 31.5% from 36.5% for the same period in 2010. The decrease is primarily due to the $11.3 million out of period adjustment recorded in the three months ended June 30, 2011, and discussed above. The $11.3 million out of period adjustment is treated as a permanent item for income taxes. Our effective tax rate continues to be impacted by minor permanent items and interest accrued on uncertain tax positions and prior period audit adjustments. Our reserve for uncertain tax positions increased by $24.3 million for the three-month period ended June 30, 2011, due to the continued uncertainty of tax benefits related to the Foreign Sales Corporation and Extraterritorial Income regimes, the benefits of which, if realized, would have a significant impact on our effective tax rate.

Other comprehensive income was $9.1 million for the three months ended June 30, 2011, compared to $24.9 million for the same period in 2010. This change was primarily due to changes in the market values and aggregate notional value on derivatives qualifying for and designated as cash flow hedges.

Six Months Ended June 30, 2011 Versus 2010

Revenues from rentals of flight equipment decreased 5.9% to $2,252.4 million for the six months ended June 30, 2011, from $2,393.7 million for the same period in 2010. The average number of aircraft in our fleet decreased to 933 at June 30, 2011, compared to 981 at June 30, 2010, primarily due to reclassification of aircraft to Flight equipment held for sale and sales of aircraft from our leased fleet. Revenues from rentals of flight equipment decreased by (i) $93.8 million due to aircraft in service during the six months ended June 30, 2010, and sold prior to June 30, 2011; (ii) $56.5 million due to a decrease in lease rates on aircraft in our fleet during both periods, that were re-leased or had lease rates change between the two periods; and (iii) $16.0 million due to lost revenue relating to aircraft in transition between lessees primarily resulting from repossessions of aircraft. These revenue decreases were partly offset by increases of (i) $12.8 million due to an increase in the aggregate number of hours flown on which we collect overhaul revenue; and (ii) $12.2 million due to the addition of four new aircraft to our fleet after June 30, 2010, and aircraft in our fleet as of June 30, 2010, that earned revenue for a greater number of days during the six months ended June 30, 2011, than during the same period in 2010.

Two aircraft in our fleet were not subject to a signed lease agreement or a signed letter of intent at June 30, 2011.

Interest and other revenue increased to $38.8 million for the six months ended June 30, 2011, compared to $21.8 million for the same period in 2010 due to (i) $10.0 million of other income related to the extension of our evaluation period of aircraft under order (see Note O of Condensed, Consolidated Financial Statements for further discussion); (ii) a $10.6 million increase in foreign exchange gain, net of losses; and (iii) a $2.2 million increase in payment from bankruptcy claims. These increases were partially offset by (i) a decrease in interest and dividend revenue of $5.2 million driven by a decrease in our notes receivable principal balance; (ii) a $0.5 million decrease in forfeitures of security deposits due to lessees’ non-performance under leases; and (iii) other minor fluctuations aggregating $0.1 million.

-51-

MANAGEMENT’S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATIONS (CONTINUED)

Interest expense increased to $814.6 million for the six months ended June 30, 2011, compared to $742.6 million for the same period in 2010 due to a 1.12% increase in our average composite interest rate, partially offset by a decrease in average debt outstanding (excluding the effect of debt discount and foreign exchange adjustments) to $26.5 billion during the six months ended June 30, 2011, compared to $30.6 billion during the same period in 2010.

Our composite borrowing rates in the first six months of 2011 and 2010, which include the effect of derivatives, were as follows:


	2011			2010			Increase (Decrease)
Beginning of six months		5.66	%		4.35	%		1.31	%
End of six months		5.99	%		5.07	%		0.92	%
Average		5.83	%		4.71	%		1.12	%

We recorded derivative related charges aggregating $2.1 million for the six months ended June 30, 2011, compared to $44.8 million for the same period in 2010. The decrease is primarily due to losses recorded in the six months ended June 30, 2010, consisting of $15.4 million related to swaps that matured and $28.1 million related to changes in market values of economic hedges, compared to ineffectiveness of cash flow hedges and changes in market values of economic hedges aggregating $0.2 million for the same period in 2011. See Note H of Notes to Condensed, Consolidated Financial Statements.

During the six months ended June 30, 2011, we issued unsecured senior notes and used a portion of the proceeds from these notes in cash tender offers to repurchase existing outstanding notes, incurring a loss of $61.1 million from the early extinguishment of debt. See Note G of Notes to Condensed, Consolidated Financial Statements.

Depreciation of flight equipment decreased 5.6% to $912.2 million for the six months ended June 30, 2011, compared to $965.9 million for the same period in 2010, due to a decrease in the cost of our fleet held for use from $40.8 billion at June 30, 2010, to $37.7 billion at June 30, 2011. The decrease in the cost of our fleet held for use was due to a combination of sales of aircraft and impairment charges to our fleet.

Aircraft impairment charges and fair value adjustments on flight equipment sold or to be disposed decreased to $147.1 million for the six months ended June 30, 2011, compared to $406.4 million for the same period in 2010. The decrease was primarily due to fewer aircraft sold or identified as likely to be sold at June 30, 2011, as compared to the same period in 2010. During the six months ended June 30, 2011, we recorded impairment charges and fair value adjustments on 25 aircraft, compared to 59 aircraft during the six months ended June 30, 2010. See Note E of Notes to Condensed, Consolidated Financial Statements. For the six months ended June 30, 2011, we did not incur any charges related to Aircraft impairment on flight equipment held for use, compared to charges of $8.1 million for the same period in 2010.

Selling, general and administrative expenses increased to $94.8 million for the six months ended June 30, 2011, compared to $76.6 million for the same period in 2010 due to (i) an $11.6 million increase in aircraft related costs; (ii) a $12.0 million increase in salaries and employee related benefits due to an increase in employees from 182 at June 30, 2010 to 214 at June 30, 2011, and an increase in performance incentives; (iii) a $5.2 million increase relating to professional costs in connection with strategic initiatives; and (iv) other minor fluctuations aggregating an increase of $0.7 million. These increases were partially offset by $11.3 million, $8.3 million of which was an out of period adjustment relating to the forfeiture of share-based deferred compensation awards for certain employees that terminated their employment with us in 2010 (see Note A of Notes to Condensed, Consolidated Financial Statements).

-52-

MANAGEMENT’S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATIONS (CONTINUED)

Other expenses for the six months ended June 30, 2011, consisted of:

	•		$20 million of contract cancellation costs. We eliminated the economic effect of the $20 million expense by negotiating with our manufacturer vendors to recover these costs. The recovery will be in two payments. One of these payments is related to a 2007 agreement with one manufacturer for us to extend our evaluation period of aircraft under order until at least 2010. This payment is contingent upon our cancelling of the aircraft order and is not contingent on placing any new order with the manufacturer. As a result of the cancellation of that aircraft order in March 2011, we recorded the related payment receivable of $10 million in Interest and other in the condensed, consolidated statement of operations for the six months ended June 30, 2011. The second payment of $10 million is related to an agreement with another manufacturer, which among other contractual items includes a provision to reimburse us for the remaining costs associated with the March 2011 order cancellation. The reimbursement payment will be recognized as a reduction of the cost basis of future aircraft deliveries, as we determined the payment is connected with the purchase of such aircraft.

	•		$12.2 million of aggregate charges related to the write down of three notes receivable.

The charges were partially offset by $2.5 million of lease related income, net of lease charges.

Other expenses for the six months ended June 30, 2010, consisted of $87.5 million of aggregated lease related costs we expensed as a result of agreements to sell leased aircraft to third parties.

Our effective tax rate for the six months ended June 30, 2011, decreased to 34.5% from 36.9% for the same period in 2010. The decrease is primarily due to the $11.3 million out of period adjustment related to the forfeiture of share-based deferred compensation awards for certain employees that terminated their employment with us in 2010, recorded in the three months ended June 30, 2011, and discussed above. The $11.3 million out of period adjustment is treated as a permanent item for income taxes. Our effective tax rate continues to be impacted by minor permanent items and interest accrued on uncertain tax positions and prior period audit adjustments. Our reserve for uncertain tax positions increased by $37.7 million for the six-month period ended June 30, 2011, as compared to the same period in 2010, due to the continued uncertainty of tax benefits related to the Foreign Sales Corporation and Extraterritorial Income regimes, the benefits of which, if realized, would have a significant impact on our effective tax rate.

Other comprehensive income decreased to $20.2 million for the six months ended June 30, 2011, compared to $74.5 million for the same period in 2010. This decrease was primarily due to changes in the market values and aggregate notional value on derivatives qualifying for and designated as cash flow hedges.

-53-

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Value at Risk

Many companies focus their risk management efforts by measuring potential losses in fair values. Such measurements are performed through the application of various statistical techniques. One such technique is VaR, a summary statistical measure that uses historical interest rates, foreign currency exchange rates and equity prices and estimates the volatility and correlation of these rates and prices to calculate the maximum loss that could occur over a defined period of time given a certain probability.

We believe that statistical models alone do not provide a reliable method of monitoring and controlling market risk. While VaR models are relatively sophisticated, the quantitative market risk information generated is limited by the assumptions and parameters established in creating the related models. Therefore, such models are tools and do not substitute for the experience or judgment of senior management.

We are exposed to market risk and the risk of loss of fair value and possible liquidity strain resulting from adverse fluctuations in interest rates and foreign exchange prices. We employ a variety of derivative instruments to manage our exposure to interest rate and foreign currency risks. We statistically measure the loss of fair value through the application of a VaR model on a quarterly basis. In this analysis, the net fair value of our operations is determined using the financial instrument assets and other assets and liabilities. This includes tax adjusted future flight equipment lease revenues and financial instrument liabilities, which includes future servicing of current debt. The estimated impact of current derivative positions is also taken into account.

We calculate the VaR with respect to the net fair value by using historical scenarios. This methodology entails re-pricing all assets and liabilities under explicit changes in market rates within a specific historical time period. In this case, the most recent three years of historical information for interest rates and foreign exchange rates were used to construct the historical scenarios at June 30, 2011, and December 31, 2010. For each scenario, each financial instrument is re-priced. Scenario values for our operations are then calculated by netting the values of all the underlying assets and liabilities. The final VaR number represents the maximum adverse deviation in net fair market value incurred by these scenarios with 95% confidence (i.e., only 5% of historical scenarios show losses greater than the VaR figure). A one month holding period is assumed in computing the VaR figure. The following table presents the average, high and low VaRs on a combined basis and of each component at market risk for our operations with respect to its fair value for the periods ended June 30, 2011 and December 31, 2010. The VaR increased from the fourth quarter of 2010 to the second quarter of 2011 due to an increase in the average duration of our outstanding debt and a decrease in the three year US dollar yield.


	ILFC Market Risk
	At						At
	June 30, 2011						December 31, 2010
					(Dollars in millions)
	Average		High		Low		Average		High		Low
Combined	$	122.0	$	190.3	$	20.0	$	88.9	$	158.6	$	20.0
Interest Rate		121.9		190.3		20.0		88.9		158.5		20.0
Currency		0.2		0.3		0.0		0.2		0.3		0.0

-54-

ITEM 4. CONTROLS AND PROCEDURES

(A) Evaluation of Disclosure Controls and Procedures

We maintain disclosure controls and procedures that are designed to ensure that information required to be disclosed in our filings under the Securities Exchange Act of 1934 is recorded, processed, summarized and reported within the periods specified in the rules and forms of the Securities and Exchange Commission. Such information is accumulated and communicated to our management, including the Chief Executive Officer and the Senior Vice President and Chief Financial Officer (collectively, the “Certifying Officers”), as appropriate, to allow timely decisions regarding required disclosure.

In conjunction with the close of each fiscal quarter, we conduct a review and evaluation under the supervision and with the participation of our management, including the Certifying Officers, the effectiveness of our disclosure controls and procedures, as defined in Rules 13a — 15(e) and 15d — 15(e) of the Securities Exchange Act of 1934, as amended. Based on that evaluation, our Certifying Officers have concluded that our disclosure controls and procedures were effective at the reasonable assurance level as of June 30, 2011, the end of the period covered by this report.

(B) Changes in Internal Control Over Financial Reporting

There has been a change in our Certifying Officers. On May 11, 2011, Elias F. Habayeb was named Senior Vice President and Chief Financial Officer and is signing this Form 10-Q, replacing Frederick S. Cromer as the Principal Financial Officer.

Other than the changes discussed in the previous paragraph, there have been no changes in our internal control over financial reporting during the three months ended June 30, 2011, that have materially affected, or are reasonably likely to materially affect, our internal controls over financial reporting.

-55-

PART II. OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

Estate of Volare Airlines: As disclosed in previous filings, including our Form 10-Q for the three months ended March 31, 2011, we were involved in a lawsuit related to Volare, an Italian airline, which had filed for bankruptcy in Italy in 2004. The litigation was dismissed on June 15, 2011. The settlement amount was accrued prior to December 31, 2010, and was not material to our consolidated financial position, results of operations or cash flows.

ITEM 1A. RISK FACTORS

Our business is subject to numerous significant risks and uncertainties as described below. Many of these risks are interrelated and occur under similar business and economic conditions, and the occurrence of certain of them may in turn cause the emergence, or exacerbate the effect, of others. Such a combination could materially increase the severity of the impact on us.

Capital Structure Risk

The aircraft leasing business is capital intensive and we have a substantial amount of indebtedness, which requires significant interest and principal payments. As of June 30, 2011, we had approximately $25.4 billion in principal amount of indebtedness outstanding.

Our substantial level of indebtedness could have important consequences to holders of our debt, including the following:

	•		making it more difficult for us to satisfy our obligations with respect to our indebtedness;

	•		requiring us to dedicate a substantial portion of our cash flow from operations to payments on our indebtedness, thereby reducing funds available for other purposes, including acquiring new aircraft and exploring business opportunities;

	•		increasing our vulnerability to adverse economic and industry conditions;

-56-

PART II. OTHER INFORMATION (CONTINUED)

	•		limiting our flexibility in planning for, or reacting to, changes in our business and industry; and

	•		limiting our ability to borrow additional funds or refinance our existing indebtedness.

Liquidity Risk

We will require a significant amount of cash to service our indebtedness and make planned capital expenditures and we may not have adequate capital resources to meet our obligations as they become due. We borrow funds to purchase new and used flight equipment, make progress payments during aircraft construction and pay off maturing debt obligations. We borrow on both a secured and an unsecured basis from various sources.

In 2009, we had limited access to our traditional sources of liquidity and we borrowed funds from AIG Funding to fulfill our liquidity needs, which we repaid in 2010 when we regained access to debt markets. On January 31, 2011, we entered into a new three-year $2.0 billion unsecured revolving credit facility. On March 30, 2011, through a non-restricted subsidiary, we entered into a secured term loan agreement with lender commitments in the amount of approximately $1.3 billion, which was subsequently increased to approximately $1.5 billion. The $1.5 billion becomes available to us as we transfer aircraft into non-restricted subsidiaries, which will guarantee the loan on a secured basis. On May 24, 2011, we issued $2.25 billion of aggregate principal amount of senior unsecured notes, with $1.0 billion maturing in 2016 and $1.25 billion maturing in 2019. On June 17, 2011, we completed tender offers and accepted for purchase previously issued notes with an aggregate principal amount of approximately $1.67 billion, resulting in total cash consideration, including accrued and unpaid interest, of approximately $1.75 billion. As of August 5, 2011, we had not drawn on our unsecured revolving credit agreement and $696 million had been advanced to the subsidiary borrower under the secured term loan. We intend to use the proceeds from the secured term loan agreement to prepay a portion of the $1.5 billion outstanding under our credit facility dated as of October 13, 2006, with current maturity dates in October 2011 and 2012.

Any new issuance of debt by us or our subsidiaries will be subject to the consent of the Department of the Treasury if, after giving effect to the incurrence of the debt and use of proceeds therefrom, we increase our net indebtedness by more than $1 billion compared to the same date in the previous year, or compared to December 8, 2010, if the measurement is made before December 8, 2011. We cannot predict whether the Department of the Treasury would consent to us incurring debt in excess of this amount. Our bank credit facilities and indentures also limit our ability to incur secured indebtedness. The most restrictive covenant in our bank credit facilities permits us and our subsidiaries to incur secured indebtedness totaling up to 30% of our consolidated net tangible assets, as defined in the credit agreement, minus $2.0 billion, which limit currently totals approximately $10.0 billion. As of August 5, 2011, we were able to incur an additional $4.1 billion of secured indebtedness under this covenant. Our debt indentures also restrict us and our subsidiaries from incurring secured indebtedness in excess of 12.5% of our consolidated net tangible assets, as defined in the indentures. However, we may obtain secured financing without regard to the 12.5% consolidated net tangible asset limit under our indentures by doing so through subsidiaries that qualify as non-restricted under our indentures.

In addition to addressing our liquidity needs through debt financings, we also pursue potential aircraft sales in connection with our ongoing fleet strategy. During the six months ended June 30, 2011, we sold 11 aircraft which generated proceeds of approximately $235 million. In evaluating potential sales, we balance the need for funds with the long-term value of holding aircraft and long-term prospects for us. Furthermore, we would need approval from the Department of the Treasury if we entered into sales transactions with aggregate consideration exceeding $2.5 billion during any twelve month period. We cannot predict whether the Department of the Treasury would consent to any future aircraft sales if their consent were required.

Because the current market for aircraft is depressed due to the economic downturn and limited availability of buyer financing, sales of aircraft would likely result in a realized loss. The potential for impairment or fair value adjustments could be material to our results of operations for an individual period. The amount of the potential resulting aggregate loss would be dependent upon the specific aircraft sold, the sale price, the sale date and any other sale contingencies.

-57-

PART II. OTHER INFORMATION (CONTINUED)

We may, or may not, continue to have access to the secured or unsecured debt markets in the future or be able to sell additional aircraft. We believe that our cash on hand, including cash generated from the above-mentioned financing arrangements, and cash flows generated from operations, which include aircraft sales, are sufficient for us to operate our business and repay our maturing debt obligations for the next twelve months. If we are unable to generate or raise sufficient cash, we may be unable to meet our debt obligations as they become due. Further, we may not be able to meet our aircraft purchase commitments as they become due, which could expose us to breach of contract claims by our lessees and manufacturers.

Borrowing Risks

Sovereign Debt Crisis - On August 5, 2011, Standard & Poor’s lowered its long term sovereign credit rating on the United States of America from AAA to AA+. While U.S. lawmakers reached agreement to raise the federal debt ceiling on August 2, 2011, the downgrade reflected Standard & Poor’s view that the fiscal consolidation plan within that agreement fell short of what would be necessary to stabilize the U.S. government’s medium term debt dynamics. This downgrade could have material adverse impacts on financial markets and economic conditions in the United States and throughout the world and, in turn, the market’s anticipation of these impacts could have a material adverse effect on our business, financial condition and liquidity. In particular, it could adversely affect the cost and availability of funding. Further, the sovereign debt crisis could lower consumer confidence, which could result in a loss of revenue for our lessees and impact their ability to meet their financial obligations.

Credit Ratings Downgrade Risk - Our ability to access debt markets and other financing sources is, in part, dependent on our credit ratings. In addition to affecting the availability of financing, credit ratings also directly affect our cost of financing. Between September 2008 and February 2010, we experienced multiple downgrades in our credit ratings by the three major nationally recognized statistical rating organizations. These credit rating downgrades, combined with externally generated volatility, limited our ability to access debt markets in 2009 and part of 2010 and resulted in unattractive funding costs. Although S&P raised its ratings on ILFC’s senior unsecured debt and affirmed its corporate credit rating in May 2011, our ratings could be downgraded in the future. Further ratings downgrades could increase our borrowing costs and limit our access to the debt markets.

Because of our current long-term debt ratings, the 2004 ECA facility imposes the following restrictions: (i) we must segregate all security deposits, overhaul rentals and rental payments related to the aircraft financed under our 2004 ECA facility into separate accounts controlled by the security trustee (segregated rental payments are used to make scheduled principal and interest payments on the outstanding debt) and (ii) we must file individual mortgages on the aircraft funded under the 2004 ECA facility in the local jurisdictions in which the respective aircraft are registered. At June 30, 2011, we had segregated security deposits, overhaul rentals and rental payments aggregating approximately $397 million related to aircraft funded under the 2004 ECA facility.

Further ratings downgrades could increase our borrowing costs and limit our access to the debt markets.

Interest Rate Risk - We are impacted by fluctuations in interest rates. Our lease rates are generally fixed over the life of the lease. Changes, both increases and decreases, in our cost of borrowing, as reflected in our composite interest rate, directly impact our net income. We manage the interest rate volatility and uncertainty by maintaining a balance between fixed and floating rate debt, through derivative instruments and through varying debt maturities.

Our cost of borrowing for new financings is increasing due to our long-term debt ratings. The interest rates that we obtain on our debt financing are a result of several components, including credit spreads, swap spreads, duration and new issue premiums. These are all in addition to the underlying Treasury or LIBOR rates, as applicable. Volatility in our perceived risk of default, our parent’s risk of default or in a market sector’s risk of default all have an impact on our cost of funds. A 1% increase in our composite interest rate at June 30, 2011, would have increased our interest expense by approximately $250 million annually, which would put downward pressure on our operating margins.

Restrictive Covenants on Our Operations

The agreements governing certain of our indebtedness contain covenants that restrict, among other things, our ability to:

	•		incur debt;

	•		encumber our assets;

	•		dispose of certain assets;

-58-

PART II. OTHER INFORMATION (CONTINUED)

	•		consolidate, merge, sell or otherwise dispose of all or substantially all of our assets;

	•		enter into sale-leaseback transactions;

	•		make equity or debt investments in other parties;

	•		enter into transactions with affiliates;

	•		make capital expenditures;

	•		designate our subsidiaries as unrestricted subsidiaries; and

	•		pay dividends and distributions.

These covenants may affect our ability to operate and finance our business as we deem appropriate.

Relationship with AIG

AIG as Our Parent Company - We are an indirect wholly-owned subsidiary of AIG. Although neither AIG nor any of its subsidiaries is a co-obligor or guarantor of our debt securities, circumstances affecting AIG have an impact on us and we can give no assurance how further changes in circumstances related to AIG may impact us.

AIG Master Transaction Agreement with the Department of the Treasury— Although we are not a party to the Master Transaction Agreement, we are a Designated Entity under the agreement, and we and our subsidiaries are restricted from taking certain significant actions without obtaining prior written consent from the Department of the Treasury under the agreement, including:

	•		amending or waiving any provisions of our articles of incorporation, bylaws, or similar organizational document in a manner that would adversely affect, in any material respect, the rights of our equity interests;

	•		authorizing or issuing any equity interests, unless to AIG, or a wholly-owned subsidiary of AIG;

	•		selling or disposing of assets for total consideration greater than or equal to $2.5 billion in any twelve month period;

	•		acquiring assets after December 8, 2010, other than pursuant to existing purchase commitments at such date, with aggregate scheduled payments under the purchase contracts for such assets greater than or equal to $2.5 billion in any twelve month period;

	•		engaging in any public offering or other sale or transfer of our equity interests;

	•		voluntarily liquidating, filing for bankruptcy, or taking any other legal action evidencing insolvency; and

	•		increasing our net indebtedness by more than $1 billion compared to the same date in the previous year, or compared to December 8, 2010, if the measurement is made before December 8, 2011.

Additionally, under the Master Transaction Agreement, if the Department of the Treasury still holds preferred interests in certain special purpose vehicles on May 1, 2013, the Department of the Treasury may direct AIG to sell certain assets, including shares of ILFC.

AIG as Our Counterparty of Derivatives — AIG Markets, Inc., a wholly-owned subsidiary of AIG with an explicit guarantee from AIG, is the counterparty of all our interest rate swaps and foreign currency swaps. If our counterparty is unable to meet its obligations under the derivative contracts, it would have a material impact on our financial results and cash flows.

-59-

PART II. OTHER INFORMATION (CONTINUED)

Key Personnel Risk

Our senior management’s reputation and relationships with lessees and sellers of aircraft are an important element of our business. The American Recovery and Reinvestment Act of 2009 (the “Act”) imposed restrictions on bonus and other incentive compensation payable to certain AIG employees. Three members of our senior management team are subject to the compensation limitations imposed by the Act. The restrictions and limitations on compensation imposed on us may adversely affect our ability to attract new talent and retain and motivate our existing impacted employees. If we are unable to retain our key employees due to the compensation restrictions or for any other reason, and we fail to attract new talent, it could negatively impact our ability to conduct business.

Overall Airline Industry Risk

We operate as a supplier and financier to airlines. The risks affecting our airline customers are generally out of our control and impact our customers to varying degrees. As a result, we are indirectly impacted by all the risks facing airlines today. Our ability to succeed is dependent upon the financial strength of our customers. Their ability to compete effectively in the marketplace and manage these risks has a direct impact on us. These risks include:


•	demand for air travel	•	geopolitical events
•	competition between carriers	•	security, terrorism and war
•	fuel prices and availability	•	worldwide health concerns
•	labor costs and stoppages	•	equity and borrowing capacity
•	maintenance costs	•	environmental concerns
•	employee labor contracts	•	government regulation
•	air traffic control infrastructure constraints	•	interest rates
•	airport access	•	overcapacity
•	insurance costs and coverage	•	natural disasters
•	heavy reliance on automated systems

To the extent that our customers are affected by these risk factors, we may experience:

	•		lower demand for the aircraft in our fleet and, generally, reduced market lease rates and lease margins;

	•		a higher incidence of lessee defaults and repossessions affecting net income due to maintenance, consulting and legal costs associated with the repossessions, as well as lost revenue for the time the aircraft are off lease and possibly lower lease rates from the new lessees;

	•		a higher incidence of situations where we engage in restructuring lease rates for our troubled customers which reduces overall lease revenue;

	•		an inability to immediately place new and used aircraft on commercially acceptable terms when they become available through our purchase commitments and regular lease terminations, resulting in lower lease margins due to aircraft not earning revenue and resulting in payments for storage, insurance and maintenance; and

-60-

PART II. OTHER INFORMATION (CONTINUED)

•

a loss if our aircraft is damaged or destroyed by an event specifically excluded from the insurance policy such as dirty bombs, bio-hazardous materials and electromagnetic pulsing.

Lessee Non-Performance Risk

Our business depends on the ability of our airline customers to meet their obligations to us and if their ability materially decreases, it may negatively affect our business, financial condition, results of operations and cash flows, as discussed above in Overall Airline Industry Risk.

We manage lessee non-performance risk by obtaining security deposits and overhaul rentals as well as continuous monitoring of lessee performance and outlook.

Airframe, Engine and Other Manufacturer Risks

The supply of jet transport aircraft, which we purchase and lease, is dominated by two airframe manufacturers, Boeing and Airbus, and a limited number of engine manufacturers. As a result, we are dependent on the manufacturers’ success in remaining financially stable, producing aircraft and related components that meet the airlines’ demands, in both type and quantity, and fulfilling their contractual obligations to us. Should the manufacturers fail to respond appropriately to changes in the market environment or fail to fulfill their contractual obligations, we may experience:

	•		missed or late delivery of aircraft ordered by us and an inability to meet our contractual obligations to our customers, resulting in lost or delayed revenues, lower growth rates and strained customer relationships;

	•		an inability to acquire aircraft and related components on terms which will allow us to lease those aircraft to customers at a profit, resulting in lower growth rates or a contraction in our fleet;

	•		a marketplace with too many aircraft available, creating downward pressure on demand for the aircraft in our fleet and reduced market lease rates; and

	•		poor customer support from the manufacturers of aircraft and components resulting in reduced demand for a particular manufacturer’s product, creating downward pressure on demand for those aircraft in our fleet and reduced market lease rates for those aircraft.

Aircraft Related Risks

Residual Value — We bear the risk of re-leasing or selling the aircraft in our fleet that are subject to operating leases at the end of their lease terms. Operating leases bear a greater risk of realizations of residual values, because only a portion of the equipment’s value is covered by contractual cash flows at lease inception. In addition to factors linked to the aviation industry in general, other factors that may affect the value and lease rates of our aircraft include (i) maintenance and operating history of the airframe and engines; (ii) the number of operators using the particular type of aircraft; and (iii) aircraft age. If both demand for aircraft and market lease rates decrease and the conditions continue for an extended period, they could affect the market value of aircraft in our fleet and may result in impairment charges. During the six months ended June 30, 2011, we recorded net impairment charges aggregating $147.1 million related to aircraft we sold, held for sale, had agreed to sell or designated for part-out. See Note E of Notes to Condensed, Consolidated Financial Statements. Further, deterioration of aircraft values may create losses related to our aircraft asset value guarantees.

Obsolescence Risk — Aircraft are long-lived assets requiring long lead times to develop and manufacture. As a result, aircraft of a particular model and type tend to become obsolete and less in demand over time, as newer more advanced and efficient aircraft are manufactured. This life cycle, however, can be shortened by world events,

-61-

PART II. OTHER INFORMATION (CONTINUED)

government regulation or customer preferences. As aircraft in our fleet approach obsolescence, demand for that particular model and type will decrease. This may result in declining lease rates, impairment charges or losses related to aircraft asset value guarantees.

In 2010 we recorded impairment charges on certain aircraft types due to unfavorable trends affecting the airline industry in general and specific models of aircraft, including the potential for lower demand for certain aircraft models as a result of the announcement from Airbus of new, efficient engine options for its future narrow body aircraft.

Greenhouse Gas Emissions Risk — Aircraft emissions of greenhouse gases vary with aircraft type and age. In response to climate change, if any, worldwide government bodies may impose future restrictions or financial penalties on operations of aircraft with high emissions. It is unclear what effect, if any, such regulations will have on our operations.

Other Risks

Foreign Currency Risk — We are exposed to foreign currency risk through the issuance of debt denominated in foreign currencies and through leases negotiated in Euros. We reduce the foreign currency risk by negotiating the majority of our leases in U.S. dollars and by hedging all the foreign currency denominated debt through derivative instruments. If the Euro exchange rate to the U.S. dollar deteriorates, we will record less lease revenue on lease payments received in Euros.

Accounting Pronouncements — In August 2010, the FASB and the IASB issued an Exposure Draft that proposes substantial changes to existing lease accounting that will affect all lease arrangements. Subsequent meetings of the joint committee of the FASB and the IASB have made further changes to the proposed lease accounting.

Under the current proposed accounting model, lessees will be required to record an asset representing the right-to-use the leased item for the lease term (“Right-of-Use Asset”) and a liability to make lease payments. The Right-of-Use asset and liability incorporate the rights arising under the lease and are based on the lessee’s assessment of expected payments to be made over the lease term. The proposed model requires measuring these amounts at the present value of the future expected payments.

Under the current proposed accounting model, lessors will apply the receivable and residual method. This will require a lessor to derecognize its flight equipment into a receivable based upon the present value of lease payment under a lease and a residual value. Revenue recognized would be interest income based upon the effective interest rate explicit in the lease.

The FASB and IASB intend to issue another exposure draft in the fourth quarter of 2011. The proposal does not include a proposed effective date; rather it is expected to be considered as part of the evaluation of the effective dates for the major projects currently undertaken by the FASB. The FASB and IASB continue to deliberate on the proposed accounting. As a result, currently management is unable to assess the effects the adoption of the new finalized lease standard will have on our financial statements. Although we believe the presentation of our financial statements, and those of our lessees, could change, we do not believe the accounting pronouncement will change the fundamental economic reasons for which the airlines lease aircraft. Therefore, we do not believe it will have a material impact on our business.

Tax Related Risks — We operate in multiple jurisdictions and may become subject to a wide range of income and other taxes. If we are unable to execute our business in jurisdictions with preferential tax treatment, our operations may be subject to significant income and other taxes.

-62-

PART II. OTHER INFORMATION (CONTINUED)

ITEM 6. EXHIBITS

a) Exhibits


3.1		Restated Articles of Incorporation of the Company (filed as an exhibit to Form 10-Q for the quarter ended September 30, 2008, and incorporated herein by reference).

3.2		Amended and Restated By-laws of the Company (filed as an exhibit to Form 10-Q for the quarter ended June 30, 2010, and incorporated herein by reference).

4.1		Third Supplemental Indenture, dated as of May 24, 2011, to an indenture, dated August 1, 2006, by and between the Company and Deutsche Bank Trust Company Americas, as trustee (filed as an exhibit to Form 8-K filed on May 24, 2011, and incorporated herein by reference).

4.2		Officers’ Certificate, dated as of May 24, 2011, establishing the terms of the 5.75% senior notes due 2016 and the 6.25% senior notes due 2019 (filed as an exhibit to Form 8-K filed on May 24, 2011, and incorporated herein by reference).

4.3		The Company agrees to furnish to the Commission upon request a copy of each instrument with respect to issues of long-term debt of the Company and its subsidiaries, the authorized principal amount of which does not exceed 10% of the consolidated assets of the Company and its subsidiaries.

10.1		Incremental Lender Assumption Agreement, dated as of April 21, 2011, among Temescal Aircraft Inc., the Company, Park Topanga Aircraft Inc., Charmlee Aircraft Inc., Ballysky Aircraft Ireland Limited, KfW IPEX-Bank GmbH, as the incremental lender, and Citibank, N.A., as administrative agent (portions of this exhibit have been omitted pursuant to a request for confidential treatment) (filed as an exhibit to Form 10-Q for the quarter ended March 31, 2011, and incorporated herein by reference).

12.		Computation of Ratios of Earnings to Fixed Charges and Preferred Stock Dividends.

31.1		Certification of Chief Executive Officer.

31.2		Certification of Senior Vice President and Chief Financial Officer.

32.1		Certification under 18 U.S.C., Section 1350.

-63-

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

INTERNATIONAL LEASE FINANCE CORPORATION



August 10, 2011	/s/ Henri Courpron
	HENRI COURPRON
	Chief Executive Officer (Principal Executive Officer)



August 10, 2011	/s/ Elias Habayeb
	ELIAS HABAYEB
	Senior Vice President and Chief Financial Officer (Principal Financial Officer)


August 10, 2011	/s/ Kurt H. Schwarz
	KURT H. SCHWARZ
	Senior Vice President, Chief Accounting Officer and Controller (Principal Accounting Officer)

-64-

INTERNATIONAL LEASE FINANCE CORPORATION AND SUBSIDIARIES

INDEX TO EXHIBITS


Exhibit No.
3.1		Restated Articles of Incorporation of the Company (filed as an exhibit to Form 10-Q for the quarter ended September 30, 2008, and incorporated herein by reference).

3.2		Amended and Restated By-laws of the Company (filed as an exhibit to Form 10-Q for the quarter ended June 30, 2010, and incorporated herein by reference).

4.1		Third Supplemental Indenture, dated as of May 24, 2011, to an indenture, dated August 1, 2006, by and between the Company and Deutsche Bank Trust Company Americas, as trustee (filed as an exhibit to Form 8-K filed on May 24, 2011, and incorporated herein by reference).

4.2		Officers’ Certificate, dated as of May 24, 2011, establishing the terms of the 5.75% senior notes due 2016 and the 6.25% senior notes due 2019 (filed as an exhibit to Form 8-K filed on May 24, 2011, and incorporated herein by reference).

4.3		The Company agrees to furnish to the Commission upon request a copy of each instrument with respect to issues of long-term debt of the Company and its subsidiaries, the authorized principal amount of which does not exceed 10% of the consolidated assets of the Company and its subsidiaries.

10.1		Incremental Lender Assumption Agreement, dated as of April 21, 2011, among Temescal Aircraft Inc., the Company, Park Topanga Aircraft Inc., Charmlee Aircraft Inc., Ballysky Aircraft Ireland Limited, KfW IPEX-Bank GmbH, as the incremental lender, and Citibank, N.A., as administrative agent (portions of this exhibit have been omitted pursuant to a request for confidential treatment) (filed as an exhibit to Form 10-Q for the quarter ended March 31, 2011, and incorporated herein by reference).

12.		Computation of Ratios of Earnings to Fixed Charges and Preferred Stock Dividends.

31.1		Certification of Chief Executive Officer.

31.2		Certification of Senior Vice President and Chief Financial Officer.

32.1		Certification under 18 U.S.C., Section 1350.

-65-

EX-12 2 v59547exv12.htm EX-12 exv12

EXHIBIT 12

INTERNATIONAL LEASE FINANCE CORPORATION AND SUBSIDIARIES
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES AND PREFERRED STOCK
DIVIDENDS FOR THE SIX MONTHS ENDED JUNE 30, 2011 and 2010
(Dollars in thousands)


	June 30,			June 30,
	2011			2010
	(Unaudited)
Earnings:
Net Income	$	146,401		$	47,827
Add:
Provision for income taxes		77,018			27,919
Fixed charges		819,106			747,263
Less:
Capitalized interest		(2,790	)		(3,080	)

Earnings as adjusted (A)	$	1,039,735		$	819,929

Fixed charges and preferred stock dividends:
Preferred dividend requirements	$	314		$	207
Ratio of income before provision for income taxes to net income		153	%		158	%

Preferred dividend factor on pretax basis		480			327

Fixed Charges:
Interest expense		814,568			742,574
Capitalized interest		2,790			3,080
Interest factors of rents		1,748			1,609

Fixed charges as adjusted (B)		819,106			747,263


Fixed charges and preferred stock dividends (C)	$	819,586		$	747,590


Ratio of earnings to fixed charges ((A) divided by (B))		1.27	x		1.10	x


Ratio of earnings to fixed charges and preferred stock dividends ((A) divided by (C))		1.27	x		1.10	x

EX-31.1 3 v59547exv31w1.htm EX-31.1 exv31w1

EXHIBIT 31.1

CERTIFICATIONS

I, Henri Courpron, certify that:

1. I have reviewed this quarterly report on Form 10-Q of International Lease Finance Corporation;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: August 10, 2011



	/s/ Henri Courpron
	HENRI COURPRON
	Chief Executive Officer

EX-31.2 4 v59547exv31w2.htm EX-31.2 exv31w2

EXHIBIT 31.2

CERTIFICATIONS

I, Elias Habayeb, certify that:

1. I have reviewed this quarterly report on Form 10-Q of International Lease Finance Corporation;

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: August 10, 2011



	/s/ Elias Habayeb
	ELIAS HABAYEB
	Senior Vice President and Chief Financial Officer

EX-32.1 5 v59547exv32w1.htm EX-32.1 exv32w1

EXHIBIT 32.1

WRITTEN STATEMENT
PURSUANT TO
18 U.S.C. SECTION 1350

Each of the undersigned, HENRI COURPRON, the CHIEF EXECUTIVE OFFICER, and ELIAS HABAYEB , the SENIOR VICE PRESIDENT AND CHIEF FINANCIAL OFFICER of INTERNATIONAL LEASE FINANCE CORPORATION (the “Company”), pursuant to 18 U.S.C. §1350, hereby certifies that:

	(i)		the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2011 (the “Report”) fully complies with the requirements of section 13(a) and 15(d) of the Securities Exchange Act of 1934; and

	(ii)		the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.



Dated: August 10, 2011	/s/ Henri Courpron
	HENRI COURPRON



Dated: August 10, 2011	/s/ Elias Habayeb
	ELIAS HABAYEB

EX-101.INS 6 ilfc-20110630.xml EX-101 INSTANCE DOCUMENT 0000714311 us-gaap:SeriesBPreferredStockMember 2011-06-30 0000714311 us-gaap:SeriesAPreferredStockMember 2011-06-30 0000714311 us-gaap:SeriesBPreferredStockMember 2010-12-31 0000714311 us-gaap:SeriesAPreferredStockMember 2010-12-31 0000714311 us-gaap:UnsecuredDebtMember 2011-06-30 0000714311 us-gaap:UnsecuredDebtMember 2010-12-31 0000714311 2011-08-10 0000714311 2011-06-30 0000714311 2010-12-31 0000714311 2011-04-01 2011-06-30 0000714311 2010-04-01 2010-06-30 0000714311 2011-01-01 2011-06-30 0000714311 2010-01-01 2010-06-30 0000714311 2009-12-31 0000714311 2010-06-30 iso4217:USD xbrli:shares xbrli:shares iso4217:USD INTERNATIONAL LEASE FINANCE CORP 0000714311 --12-31 Yes No Yes Non-accelerated Filer 10-Q false 2011-06-30 Q2 2011 45267723

2138483000

3067697000

2126626000

3058747000

421040000

457053000

421040000 402373000 86260000 132685000

51603074000

51646586000

13891697000

13120421000

37711377000

38526165000

5220000 255178000

223700000

184410000

392017000 402932000

206904000

60150000

296609000

232576000

217078000

181460000

41481610000

43318846000

660899000

689606000

117571000

108898000

9331699000

9556634000

15034585000

16997466000

1000000000

281600000 165400000

1682140000

1620784000

269455000

284115000

4712652000

4663939000

100000000

500

1053582000

100000000

45267723

599133000

606367000

-38792000

-58944000

6677086000

6530999000

8391009000

8232004000

41481610000

43318846000

1111453000

1163811000

2176000 42000 11903000 8791000

1125532000

1172644000

407069000

407708000

-1468000

-4783000

459689000

475658000

43815000

53027000

8148000

-61093000

4500000

43089000

40993000

-1248000

3469000

1019475000

998286000

106057000

174358000

33377000

63605000

72680000

110753000

2252374000

2393674000

2849000 1326000 38822000 21777000

2294045000

2416777000

814568000

742574000

-2091000

-44849000

912220000

965899000

147125000

406414000

8148000

-61093000

9000000

94803000

76630000

29726000

87517000

2070626000

2341031000

223419000

75746000

77018000

27919000

146401000

47827000

8924000

25045000

220000

-147000

9144000

24898000

81824000

135651000

20363000

74606000

-211000

-123000

20152000

74483000

166553000

122310000

37862000

19754000

115426000

-374814000

-116200000 334720000

34317000

21873000

7408000

4983000

23465000

20282000

147125000 414562000 -2437000 89213000

28920000

23941000

24122000

9613000 -51776000

-31010000

63738000

8673000

4668000

85000000

-14660000

-36847000

1236584000

1627620000

182610000

219450000

80195000

25078000

234714000

24641000

-36013000

568664000

44737000

66407000

4369000

48290000

-722144000

2431463000

4315872000

-4626686000

-2637564000

99651000

100131000

314000

207000

42862000 28885000 46721000 24608000 19391000 249927000 295996000 170915000 153266000 18623000

42678000

6873000

-2215371000

1731850000

-930497000

2637326000

1283000

-4842000

336911000

2969395000

883434000

642067000

2790000

3080000

30482000

3495000

<div style="font-family: 'Times New Roman',Times,serif"> <div align="center" style="font-size: 10pt; margin-top: 0pt"><b></b> </div> <div align="left"> </div> <div align="center" style="font-size: 10pt; margin-top: 0pt"><b></b> </div> <div align="center" style="font-size: 10pt; margin-top: 0pt"><b> </b> </div> <div align="left" style="font-size: 10pt; margin-top: 12pt"><b>A. Basis of Preparation</b> </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     ILFC is an indirect wholly-owned subsidiary of AIG. AIG is a holding company, which, through its subsidiaries, is primarily engaged in a broad range of insurance and insurance-related activities in the United States and abroad. The accompanying unaudited, condensed, consolidated financial statements have been prepared in accordance with GAAP for interim financial information and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     The accompanying unaudited, condensed, consolidated financial statements include our accounts and accounts of all other entities in which we have a controlling financial interest. See Note N — <i>Variable Interest Entities </i>for further discussions on VIEs. All material intercompany accounts have been eliminated in consolidation. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     Results for the three and six month periods ended June 30, 2011 include an out of period adjustment related to prior quarters and years which increased pre-tax income by $8.1 million and $8.3 million, respectively. The out of period adjustment relates principally to the forfeiture of share-based deferred compensation awards for certain employees who terminated their employment with us in 2010. Management has determined, after evaluating the quantitative and qualitative aspects of this out of period adjustment, that our current and prior period financial statements are not materially misstated and will not be material to our estimated results of operations for the year ended December 31, 2011. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     In the opinion of management, all adjustments considered necessary for a fair statement of the results for the interim periods presented have been included. Certain reclassifications have been made to the 2010 unaudited, condensed, consolidated financial statements to conform to the 2011 presentation. Operating results for the six months ended June 30, 2011, are not necessarily indicative of the results that may be expected for the year ending December 31, 2011. These statements should be read in conjunction with the consolidated financial statements and footnotes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2010. </div> </div>

<div style="font-family: 'Times New Roman',Times,serif"> <div align="left" style="font-size: 10pt; margin-top: 12pt"><b>B. Recent Accounting Pronouncements</b> </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     We did not adopt any new accounting standards during the first six months of 2011. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%"><i>Future Application of Accounting Standards:</i> </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%"><i>A Creditor’s Determination of Whether a Restructuring is a Troubled Debt Restructuring</i> </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     In April 2011, the FASB issued an accounting standard update that amends the guidance for a creditor’s evaluation of whether a restructuring is a troubled debt restructuring and requires additional disclosures about a creditor’s troubled debt restructuring activities. The new standard clarifies the existing guidance on the two criteria used by creditors to determine whether a modification or restructuring is a troubled debt restructuring: <i>(i) </i>whether the creditor has granted a concession and <i>(ii) </i>whether the debtor is experiencing financial difficulties. The new standard is effective for interim and annual periods beginning on July 1, 2011, with early adoption permitted. We are required to apply the guidance in the accounting standard retrospectively for all modifications and restructuring activities that have occurred since January 1, 2011. For receivables that are considered newly impaired under the guidance, we are required to measure the impairment of those receivables prospectively in the first period of adoption. In addition, we must begin providing the disclosures about troubled debt restructuring activities in the period of adoption. We are currently assessing the effect of adoption of this new standard on our consolidated financial position, results of operations and cash flows. </div>   </div>  <div style="font-family: 'Times New Roman',Times,serif"> <div align="center" style="font-size: 10pt; margin-top: 0pt"> <b> </b> </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%"><i>Common Fair Value Measurements and Disclosure Requirements in GAAP and IFRS</i> </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     In May 2011, the FASB issued an accounting standard update that amends certain aspects of the fair value measurement guidance in GAAP, primarily to achieve the FASB’s objective of a converged definition of fair value and substantially converged measurement and disclosure guidance with IFRS. Consequently, when the new standard becomes effective on January 1, 2012, GAAP and IFRS will be consistent, with certain exceptions including the accounting for day one gains and losses, measuring the fair value of alternative investments measured on a net asset value basis and certain disclosure requirements. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     The new standard’s fair value guidance applies to all companies that measure assets, liabilities, or instruments classified in shareholders’ equity at fair value or provide fair value disclosures for items not recorded at fair value. While many of the amendments to GAAP are not expected to significantly affect current practice, the guidance clarifies how a principal market is determined, addresses the fair value measurement of financial instruments with offsetting market or counterparty credit risks and the concept of valuation premise (i.e., in-use or in exchange) and highest and best use, extends the prohibition on blockage factors to all three levels of the fair value hierarchy, and requires additional disclosures. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     The new standard is effective for us for interim and annual periods beginning on January 1, 2012. If different fair value measurements result from applying the new standard, we will recognize the difference in the period of adoption as a change in estimate. The new disclosure requirements must be applied prospectively. In the period of adoption, we will disclose any changes in valuation techniques and related inputs resulting from application of the amendments and quantify the total effect, if material. We are assessing the effect of the new standard on our consolidated statements of financial position, results of operations and cash flows. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%"><i>Presentation of Comprehensive Income</i> </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     In June 2011, the FASB issued an accounting standard update that requires the presentation of comprehensive income either in a single continuous statement of comprehensive income or in two separate but consecutive statements. In the two-statement approach, the first statement should present total net income and its components, followed consecutively by a second statement that presents total other comprehensive income and its components. This presentation is effective January 1, 2012, and is required to be applied retrospectively. Early adoption is permitted. Adoption of the new standard will have no effect on our consolidated financial statements because we already use the two-statement approach to present comprehensive income. </div> </div>   <div style="font-family: 'Times New Roman',Times,serif"> <div align="left" style="font-size: 10pt; margin-top: 12pt"><b>C. Restricted Cash</b> </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     We entered into ECA facility agreements in 1999 and 2004 through subsidiaries. See Note G — <i>Debt Financings. </i>We had no loans outstanding under the 1999 ECA facility as of June 30, 2011. Because of our current long-term debt ratings, the 2004 ECA facility requires us to segregate security deposits, overhaul rentals and rental payments received under the leases of the aircraft funded under the 2004 ECA facility (segregated rental payments are used to make scheduled principal and interest payments on the outstanding debt). The segregated funds are deposited into separate accounts pledged to and controlled by the security trustee of the 2004 ECA facility. At June 30, 2011, we had segregated security deposits, overhaul rentals and rental payments aggregating approximately $397 million related to aircraft funded under the 2004 ECA facility. The segregated amounts fluctuate with changes in security deposits, overhaul rentals, rental payments and debt maturities related to the aircraft funded under the 2004 ECA facility. In addition, if a default resulting in an acceleration of the obligations under the 2004 ECA facility were to occur, pursuant to a cross- collateralization agreement, we would have to segregate lease payments, overhaul rentals and security deposits received after such acceleration event occurred relating to all the aircraft funded under the 1999 ECA facility, even though those aircraft are no longer subject to a loan at June 30, 2011. </div>   </div>  <div style="font-family: 'Times New Roman',Times,serif"> <div align="center" style="font-size: 10pt; margin-top: 0pt"> <b> </b> </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     In March 2010, we entered into a $550 million secured term loan through a newly formed subsidiary. The proceeds from this transaction are restricted until the collateral is transferred to certain of our subsidiaries that guarantee the debt on a secured basis and whose equity were pledged to secure the term loan and at June 30, 2011, approximately $24 million of the proceeds remained restricted. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     The subsidiaries described above meet the definition of a VIE and have been designated as non-restricted subsidiaries, under our indentures. See Note G — <i>Debt Financings </i>and Note N - <i>Variable Interest Entities.</i> </div> </div>

<div style="font-family: 'Times New Roman',Times,serif"> <div align="left" style="font-size: 10pt; margin-top: 12pt"><b>D. Allowance for Credit Losses</b> </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     On occasion we enter into finance or sales type leases, or in limited circumstances we will advance cash, or accept a note receivable, in conjunction with the sale of an aircraft. At June 30, 2011, we had four aircraft under finance and sales type leases with aggregate principal balance of $65.7 million and notes receivable with aggregate principal balance, net of allowance, of $20.6 million. At December 31, 2010, the principal related to the four aircraft under finance leases aggregated $67.6 million and we had notes receivable with aggregate principal balance, net of allowance, of $65.1 million. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     We had the following activity in our allowance for credit losses on notes receivable for the following period: </div> <div align="center"> <table style="font-size: 10pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">  <tr valign="bottom"> <td width="88%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td> </td> <td> </td> <td align="center" colspan="2">(Dollars in thousands)</td> <td> </td> </tr>   <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:15px; text-indent:-15px">Allowance for credit losses: </div></td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Balance at December 31, 2010 </div></td> <td> </td> <td align="left">$</td> <td align="right">21,042</td> <td> </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:30px; text-indent:-15px">Provision </div></td> <td> </td> <td> </td> <td align="right">12,163</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:30px; text-indent:-15px">Write-offs </div></td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:30px; text-indent:-15px">Recoveries </div></td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(1,531</td> <td nowrap="nowrap">)</td> </tr> <tr style="font-size: 1px"> <td> <div style="margin-left:15px; text-indent:-15px">  </div></td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Balance at June 30, 2011 </div></td> <td> </td> <td align="left">$</td> <td align="right">31,674</td> <td> </td> </tr> <tr style="font-size: 1px"> <td> <div style="margin-left:15px; text-indent:-15px">  </div></td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td> <td> </td> </tr>  </table> </div>   </div>  <div style="font-family: 'Times New Roman',Times,serif"> <div align="center" style="font-size: 10pt; margin-top: 0pt"> <b> </b> </div> </div>

<div style="font-family: 'Times New Roman',Times,serif"> <div align="left" style="font-size: 10pt; margin-top: 12pt"><b>E. Aircraft Impairment Charges and Fair Value Adjustments on Flight Equipment Sold or to be Disposed</b> </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     We reported the following impairment charges and fair value adjustments on flight equipment during the three and six months ended June 30, 2011 and 2010, respectively: </div> <div align="center"> <table style="font-size: 10pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">  <tr valign="bottom"> <td width="20%"> </td> <td width="3%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="3%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="3%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="3%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="3%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="3%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="3%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="3%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="14" style="border-bottom: 1px solid #000000">Three Months Ended</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="14" style="border-bottom: 1px solid #000000">Six Months Ended</td> <td style="border-bottom: 1px solid #000000"> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="6" style="border-bottom: 1px solid #000000">June 30, 2011</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="6" style="border-bottom: 1px solid #000000">June 30, 2010</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="6" style="border-bottom: 1px solid #000000">June 30, 2011</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="6" style="border-bottom: 1px solid #000000">June 30, 2010</td> <td style="border-bottom: 1px solid #000000"> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2">Aircraft</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2">Impairment</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2">Aircraft</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2">Impairment</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2">Aircraft</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2">Impairment</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2">Aircraft</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2">Impairment</td> <td> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2">Impaired</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2">Charges and</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2">Impaired</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2">Charges and</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2">Impaired</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2">Charges and</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2">Impaired</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2">Charges and</td> <td> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2">or</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2">Fair Value</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2">or</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2">Fair Value</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2">or</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2">Fair Value</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2">or</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2">Fair Value</td> <td> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">Adjusted</td> <td style="border-bottom: 1px solid #000000"> </td> <td style="border-bottom: 1px solid #000000"> </td> <td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">Adjustments</td> <td style="border-bottom: 1px solid #000000"> </td> <td style="border-bottom: 1px solid #000000"> </td> <td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">Adjusted</td> <td style="border-bottom: 1px solid #000000"> </td> <td style="border-bottom: 1px solid #000000"> </td> <td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">Adjustments</td> <td style="border-bottom: 1px solid #000000"> </td> <td style="border-bottom: 1px solid #000000"> </td> <td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">Adjusted</td> <td style="border-bottom: 1px solid #000000"> </td> <td style="border-bottom: 1px solid #000000"> </td> <td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">Adjustments</td> <td style="border-bottom: 1px solid #000000"> </td> <td style="border-bottom: 1px solid #000000"> </td> <td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">Adjusted</td> <td style="border-bottom: 1px solid #000000"> </td> <td style="border-bottom: 1px solid #000000"> </td> <td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">Adjustments</td> <td style="border-bottom: 1px solid #000000"> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td nowrap="nowrap" align="left">Loss/(Gain)</td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="6">(Dollars in millions)</td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr>   <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:15px; text-indent:-15px">Impairment charges and fair value adjustments on aircraft likely to be sold or sold </div></td> <td> </td> <td> </td> <td align="right">5</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">41.1</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">—</td> <td nowrap="nowrap">(b)</td> <td> </td> <td align="left">$</td> <td align="right">0.5</td> <td> </td> <td> </td> <td> </td> <td align="right">14</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">148.1</td> <td> </td> <td> </td> <td> </td> <td align="right">2</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">32.7</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Fair value adjustments on held for sale aircraft sold or transferred from held for sale back to flight equipment under operating leases (a) </div></td> <td> </td> <td> </td> <td align="right">2</td> <td> </td> <td> </td> <td> </td> <td align="right">2.7</td> <td> </td> <td> </td> <td> </td> <td align="right">6</td> <td> </td> <td> </td> <td> </td> <td align="right">40.1</td> <td> </td> <td> </td> <td> </td> <td align="right">10</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(3.5</td> <td nowrap="nowrap">)</td> <td> </td> <td> </td> <td align="right">56</td> <td> </td> <td> </td> <td> </td> <td align="right">361.3</td> <td> </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:15px; text-indent:-15px">Impairment charges on aircraft designated for part-out </div></td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">1</td> <td> </td> <td> </td> <td> </td> <td align="right">12.4</td> <td> </td> <td> </td> <td> </td> <td align="right">1</td> <td> </td> <td> </td> <td> </td> <td align="right">2.5</td> <td> </td> <td> </td> <td> </td> <td align="right">1</td> <td> </td> <td> </td> <td> </td> <td align="right">12.4</td> <td> </td> </tr> <tr style="font-size: 1px"> <td> </td> <td> </td> <td colspan="7" align="left" style="border-top: 1px solid #000000"> </td> <td> </td> <td colspan="7" align="left" style="border-top: 1px solid #000000"> </td> <td style="border-top: 1px solid #000000"> </td> <td colspan="7" align="left" style="border-top: 1px solid #000000"> </td> <td style="border-top: 1px solid #000000"> </td> <td colspan="7" align="left" style="border-top: 1px solid #000000"> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Total Impairment charges and fair value adjustments on flight equipment </div></td> <td> </td> <td> </td> <td align="right">7</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">43.8</td> <td> </td> <td> </td> <td> </td> <td align="right">7</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">53.0</td> <td> </td> <td> </td> <td> </td> <td align="right">25</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">147.1</td> <td> </td> <td> </td> <td> </td> <td align="right">59</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">406.4</td> <td> </td> </tr> <tr style="font-size: 1px"> <td> </td> <td> </td> <td colspan="7" align="left" style="border-top: 3px double #000000"> </td> <td> </td> <td colspan="7" align="left" style="border-top: 3px double #000000"> </td> <td style="border-top: 3px double #000000"> </td> <td colspan="7" align="left" style="border-top: 3px double #000000"> </td> <td style="border-top: 3px double #000000"> </td> <td colspan="7" align="left" style="border-top: 3px double #000000"> </td> </tr>  </table> </div> <div align="left"> <div style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">  </div> </div> <table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; text-align: left"> <tr> <td width="3%"></td> <td width="1%"></td> <td width="96%"></td> </tr> <tr valign="top"> <td nowrap="nowrap" align="left">(a)</td> <td> </td> <td>Included in these amounts are net fair value credit adjustments related to aircraft previously held for sale, but which no longer met such criteria and were subsequently reclassified to Flight equipment under operating leases. Also included in these amounts are fair value credit adjustments related to sales price adjustments related to aircraft that were previously held for sale and sold during periods presented.</td> </tr> <tr style="font-size: 3pt"> <td> </td> </tr> <tr valign="top"> <td nowrap="nowrap" align="left">(b)</td> <td> </td> <td>Amounts relate to two aircraft that were previously impaired, but additional fair value adjustments were recorded in the current period.</td> </tr> </table> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%"><i>Three months ended June 30, 2011</i> </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     Aircraft impairment charges and fair value adjustments on flight equipment totaled $43.8 million for the three months ended June 30, 2011, due to the following factors: </div> <div style="margin-top: 6pt"> <table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; text-align: left"> <tr valign="top" style="font-size: 10pt; color: #000000; background: transparent"> <td width="6%" style="background: transparent"> </td> <td width="2%" nowrap="nowrap" align="left"><b>•</b></td> <td width="1%"> </td> <td>$41.1 million of impairment charges and fair value adjustments were recorded on five aircraft. This amount was the result of <i>(i) </i>$41.9 million of impairment charges on aircraft that we were in negotiations with third parties to sell and we deemed more likely than not to be sold, but did not meet the criteria required to be classified as Flight equipment held for sale; and <i>(ii) </i>fair value adjustments on aircraft sold to third parties from our fleet held for use aggregating a net credit of $0.8 million.</td> </tr> <tr> <td style="font-size: 6pt"> </td> </tr> <tr valign="top" style="font-size: 10pt; color: #000000; background: transparent"> <td width="6%" style="background: transparent"> </td> <td width="2%" nowrap="nowrap" align="left"><b>•</b></td> <td width="1%"> </td> <td>$2.7 million of fair value adjustments were recorded on aircraft reclassified to or from Flight equipment held for sale. During the three months ended June 30, 2011, we had one aircraft that met the criteria for and was classified as Flight equipment held for sale. In addition, we determined that one aircraft we had previously classified as Flight equipment held for sale no longer met the criteria and reclassified that aircraft to Flight equipment under operating lease during the three months ended June 30, 2011. In accordance with GAAP, we recorded the aircraft at the lower of depreciated cost, had the aircraft never been classified as Flight equipment held for sale, or its fair value at the date of the reclassification of the aircraft.</td> </tr> </table> </div> <div style="margin-top: 6pt"> <table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; text-align: left"> <tr valign="top" style="font-size: 10pt; color: #000000; background: transparent"> <td width="6%" style="background: transparent"> </td> <td width="2%" nowrap="nowrap" align="left"><b>•</b></td> <td width="1%"> </td> <td>We did not have any impairment charges on aircraft designated for part-out for the three months ended June 30, 2011.</td> </tr> </table> </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%"><i>Three months ended June 30, 2010</i> </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     Aircraft impairment charges and fair value adjustments on flight equipment totaled $53.0 million for the three months ended June 30, 2010, due to the following factors: </div> <div style="margin-top: 6pt"> <table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; text-align: left"> <tr valign="top" style="font-size: 10pt; color: #000000; background: transparent"> <td width="6%" style="background: transparent"> </td> <td width="2%" nowrap="nowrap" align="left"><b>•</b></td> <td width="1%"> </td> <td>$0.5 million of fair value adjustments were recorded on two aircraft we deemed more likely than not to be sold.</td> </tr> <tr> <td style="font-size: 6pt"> </td> </tr> <tr valign="top" style="font-size: 10pt; color: #000000; background: transparent"> <td width="6%" style="background: transparent"> </td> <td width="2%" nowrap="nowrap" align="left"><b>•</b></td> <td width="1%"> </td> <td>$40.1 million of impairment charges were recorded on six aircraft that met the criteria for and were classified as Flight equipment held for sale.</td> </tr> <tr> <td style="font-size: 6pt"> </td> </tr> <tr valign="top" style="font-size: 10pt; color: #000000; background: transparent"> <td width="6%" style="background: transparent"> </td> <td width="2%" nowrap="nowrap" align="left"><b>•</b></td> <td width="1%"> </td> <td>$12.4 million of impairment charges were recorded due to the designation of one aircraft for part-out to record the parts at their fair value. The fair value of the parts is included in Lease receivables and other assets on our Condensed, Consolidated Balance Sheet.</td> </tr> </table> </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%"><i>Six months ended June 30, 2011</i> </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     Aircraft impairment charges and fair value adjustments on flight equipment totaled $147.1 million for the six months ended June 30, 2011, due to the following factors: </div> <div style="margin-top: 6pt"> <table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; text-align: left"> <tr valign="top" style="font-size: 10pt; color: #000000; background: transparent"> <td width="6%" style="background: transparent"> </td> <td width="2%" nowrap="nowrap" align="left"><b>•</b></td> <td width="1%"> </td> <td>$148.1 million of impairment charges and fair value adjustments were recorded relating to <i>(i) </i>fair value adjustments aggregating $17.3 million on five aircraft sold to third parties from our fleet held for use; and <i>(ii) </i>impairment charges of $130.8 million on nine aircraft that we were in negotiations with third parties to sell and we deemed more likely than not to be sold, but did not meet the criteria required to be classified as Flight equipment held for sale.</td> </tr> <tr> <td style="font-size: 6pt"> </td> </tr> <tr valign="top" style="font-size: 10pt; color: #000000; background: transparent"> <td width="6%" style="background: transparent"> </td> <td width="2%" nowrap="nowrap" align="left"><b>•</b></td> <td width="1%"> </td> <td>$3.5 million of fair value credit adjustments were recorded on aircraft reclassified to or from Flight equipment held for sale. During the six months ended June 30, 2011, we had one aircraft that met the criteria for and was classified as Flight equipment held for sale. In addition, we determined that three aircraft that we had previously classified as Flight equipment held for sale no longer met the criteria and reclassified those aircraft to Flight equipment under operating lease. In accordance with GAAP, we recorded the three aircraft at the lower of depreciated cost, had the aircraft never been classified as Flight equipment held for sale, or its fair value at the date of the reclassification of the aircraft. We recorded fair value credit adjustments of $0.3 million related to these aircraft. We also sold six aircraft that were classified as Flight equipment held for sale, and recorded fair value adjustments related to those aircraft aggregating a net credit of $3.2 million.</td> </tr> <tr> <td style="font-size: 6pt"> </td> </tr> <tr valign="top" style="font-size: 10pt; color: #000000; background: transparent"> <td width="6%" style="background: transparent"> </td> <td width="2%" nowrap="nowrap" align="left"><b>•</b></td> <td width="1%"> </td> <td>$2.5 million of impairment charges were recorded due to the designation of one aircraft for part-out to record the parts at their fair value. The fair value of the parts is included in Lease receivables and other assets on our Condensed, Consolidated Balance Sheet.</td> </tr> </table> </div>   </div>  <div style="font-family: 'Times New Roman',Times,serif"> <div style="margin-top: 0pt"> </div> <div align="center" style="font-size: 10pt; margin-top: 0pt"> <b> </b> </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%"><i>Six months ended June 30, 2010</i> </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     Aircraft impairment charges and fair value adjustments on flight equipment totaled $406.4 million for the six months ended June 30, 2010, due to the following factors: </div> <div style="margin-top: 6pt"> <table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; text-align: left"> <tr valign="top" style="font-size: 10pt; color: #000000; background: transparent"> <td width="6%" style="background: transparent"> </td> <td width="2%" nowrap="nowrap" align="left"><b>•</b></td> <td width="1%"> </td> <td>$32.7 million of impairment charges were recorded on two aircraft that we were in negotiations with third parties to sell and we deemed more likely than not to be sold, but did not meet the criteria required to be classified as Flight equipment held for sale.</td> </tr> <tr> <td style="font-size: 6pt"> </td> </tr> <tr valign="top" style="font-size: 10pt; color: #000000; background: transparent"> <td width="6%" style="background: transparent"> </td> <td width="2%" nowrap="nowrap" align="left"><b>•</b></td> <td width="1%"> </td> <td>$361.3 million of impairment charges were recorded on 56 aircraft reclassified to Flight equipment held for sale. On April 13, 2010, to generate liquidity to repay maturing debt obligations, we signed an agreement to sell 53 aircraft from our existing fleet to a third party for an aggregate purchase price of approximately $2.0 billion. On July 6, 2010, we signed an agreement to sell an additional six aircraft to another third party. As of June 30, 2010, 56 of the 59 aircraft met the criteria to be recorded as Flight equipment held for sale.</td> </tr> <tr> <td style="font-size: 6pt"> </td> </tr> <tr valign="top" style="font-size: 10pt; color: #000000; background: transparent"> <td width="6%" style="background: transparent"> </td> <td width="2%" nowrap="nowrap" align="left"><b>•</b></td> <td width="1%"> </td> <td>$12.4 million of impairment charges were recorded due to the designation of one aircraft for part-out to record the parts at their fair value. The fair value of the parts is included in Lease receivables and other assets on our Condensed, Consolidated Balance Sheet.</td> </tr> </table> </div> </div>   <div style="font-family: 'Times New Roman',Times,serif"> <div align="left" style="font-size: 10pt; margin-top: 12pt"><b>F. Flight Equipment Held for Sale</b> </div> <div align="left" style="font-size: 10pt; margin-top: 6pt">     We had the following activity in Flight equipment held for sale for the six months ended June 30, 2011: </div> <div align="center"> <table style="font-size: 10pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">  <tr valign="bottom"> <td width="76%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td nowrap="nowrap" align="left" style="border-bottom: 0px solid #000000"></td> <td> </td> <td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">Aircraft</td> <td style="border-bottom: 1px solid #000000"> </td> <td style="border-bottom: 1px solid #000000"> </td> <td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">Carrying Value</td> <td> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td align="left"><i>Flight Equipment Held for Sale</i></td> <td> </td> <td nowrap="nowrap" align="center" colspan="6">(Dollars in thousands)</td> <td> </td> </tr>   <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:15px; text-indent:-15px">Balance at December 31, 2010 </div></td> <td> </td> <td> </td> <td align="right">9</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">255,178</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Transferred from Flight equipment held for sale to Flight equipment under operating leases </div></td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(3</td> <td nowrap="nowrap">)</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(76,438</td> <td nowrap="nowrap">)</td> </tr> <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:15px; text-indent:-15px">Transferred from Flight equipment under operating leases to Flight equipment held for sale </div></td> <td> </td> <td> </td> <td align="right">1</td> <td> </td> <td> </td> <td> </td> <td align="right">5,220</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Flight equipment sold </div></td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(6</td> <td nowrap="nowrap">)</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(178,740</td> <td nowrap="nowrap">)</td> </tr> <tr style="font-size: 1px"> <td> <div style="margin-left:15px; text-indent:-15px">  </div></td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td> <td> </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:15px; text-indent:-15px">Flight equipment held for sale at June 30, 2011 </div></td> <td> </td> <td> </td> <td align="right">1</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">5,220</td> <td> </td> </tr> <tr style="font-size: 1px"> <td> <div style="margin-left:15px; text-indent:-15px">  </div></td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td> <td> </td> </tr>  </table> </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     At June 30, 2011 and December 31, 2010, we had one and nine aircraft, respectively, that met the criteria for, and were classified as, Flight equipment held for sale. The balance in Flight equipment held for sale of $5.2 million and $255.2 million at June 30, 2011 and December 31, 2010, respectively, represents the estimated fair value of such aircraft less cost to sell. We cease recognition of depreciation expense on aircraft subsequent to transferring them from Flight equipment under operating leases. During the six months ended June 30, 2011, we transferred three aircraft that no longer met the criteria for Flight equipment held for sale to Flight equipment under operating leases. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     In addition, we sold six aircraft that were classified as Flight equipment held for sale and recorded fair value adjustments related to those aircraft aggregating net credits of $0.3 million and $3.2 million for the three and six months ended June 30, 2011, respectively. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     Net cash proceeds from sales of flight equipment classified as held for sale is received as each individual aircraft sale is consummated. The actual purchase price may differ from the recorded estimated fair value of the aircraft when classified as held for sale, depending on the timing of the completion of a sale and, in some cases, whether an aircraft classified as held for sale is subsequently substituted with different aircraft. </div> </div>

<div style="font-family: 'Times New Roman',Times,serif"> <div align="left" style="font-size: 10pt; margin-top: 12pt"><b>G. Debt Financings</b> </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     Our debt financing was comprised of the following at the following dates: </div> <div align="center"> <table style="font-size: 10pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">  <tr valign="bottom"> <td width="76%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2">June 30,</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2">December 31,</td> <td> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">2011</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</td> <td> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="6">(Dollars in thousands)</td> <td> </td> </tr>   <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:15px; text-indent:-15px">Secured </div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:30px; text-indent:-15px">Senior secured bonds </div></td> <td> </td> <td align="left">$</td> <td align="right">3,900,000</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">3,900,000</td> <td> </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:30px; text-indent:-15px">ECA financings </div></td> <td> </td> <td> </td> <td align="right">2,549,627</td> <td> </td> <td> </td> <td> </td> <td align="right">2,777,285</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:30px; text-indent:-15px">Bank debt (a) </div></td> <td> </td> <td> </td> <td align="right">1,601,973</td> <td> </td> <td> </td> <td> </td> <td align="right">1,601,658</td> <td> </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:30px; text-indent:-15px">Other secured financings </div></td> <td> </td> <td> </td> <td align="right">1,300,000</td> <td> </td> <td> </td> <td> </td> <td align="right">1,300,000</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:45px; text-indent:-15px">Less: Deferred debt discount </div></td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(19,901</td> <td nowrap="nowrap">)</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(22,309</td> <td nowrap="nowrap">)</td> </tr> <tr style="font-size: 1px"> <td> <div style="margin-left:15px; text-indent:-15px">  </div></td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td> <td> </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:15px; text-indent:-15px">  </div></td> <td> </td> <td> </td> <td align="right">9,331,699</td> <td> </td> <td> </td> <td> </td> <td align="right">9,556,634</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Unsecured </div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:30px; text-indent:-15px">Bonds and Medium-Term Notes </div></td> <td> </td> <td> </td> <td align="right">14,870,562</td> <td> </td> <td> </td> <td> </td> <td align="right">16,810,843</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:30px; text-indent:-15px">Bank debt </div></td> <td> </td> <td> </td> <td align="right">207,000</td> <td> </td> <td> </td> <td> </td> <td align="right">234,600</td> <td> </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:45px; text-indent:-15px">Less: Deferred debt discount </div></td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(42,977</td> <td nowrap="nowrap">)</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(47,977</td> <td nowrap="nowrap">)</td> </tr> <tr style="font-size: 1px"> <td> <div style="margin-left:15px; text-indent:-15px">  </div></td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">  </div></td> <td> </td> <td> </td> <td align="right">15,034,585</td> <td> </td> <td> </td> <td> </td> <td align="right">16,997,466</td> <td> </td> </tr> <tr style="font-size: 1px"> <td> <div style="margin-left:15px; text-indent:-15px">  </div></td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td> <td> </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:15px; text-indent:-15px">Total Senior Debt Financings </div></td> <td> </td> <td> </td> <td align="right">24,366,284</td> <td> </td> <td> </td> <td> </td> <td align="right">26,554,100</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:30px; text-indent:-15px">Subordinated Debt </div></td> <td> </td> <td> </td> <td align="right">1,000,000</td> <td> </td> <td> </td> <td> </td> <td align="right">1,000,000</td> <td> </td> </tr> <tr style="font-size: 1px"> <td> <div style="margin-left:15px; text-indent:-15px">  </div></td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td> <td> </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:15px; text-indent:-15px">  </div></td> <td> </td> <td align="left">$</td> <td align="right">25,366,284</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">27,554,100</td> <td> </td> </tr> <tr style="font-size: 1px"> <td> <div style="margin-left:15px; text-indent:-15px">  </div></td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td> <td> </td> </tr>  </table> </div> <div align="left"> <div style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">  </div> </div> <table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; text-align: left"> <tr> <td width="3%"></td> <td width="1%"></td> <td width="96%"></td> </tr> <tr valign="top"> <td nowrap="nowrap" align="left">(a)</td> <td> </td> <td>Of this amount, $105.4 million (2011) and $113.7 million (2010) is non-recourse to ILFC. These secured financings were incurred by VIEs and consolidated into our condensed, consolidated financial statements.</td> </tr> </table> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     The above amounts represent the anticipated settlement of our outstanding debt obligations as of June 30, 2011 and December 31, 2010. Certain adjustments required to present currently outstanding hedged debt obligations have been recorded and presented separately on our Condensed, Consolidated Balance Sheets, including adjustments related to foreign currency hedging and interest rate hedging activities. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     For some of our secured debt financings, we created direct and indirect wholly-owned subsidiaries for the purpose of purchasing and holding title to aircraft, and we then pledged the equity of those subsidiaries as collateral. These subsidiaries have been designated as non-restricted subsidiaries under our indentures and meet the definition of a VIE. We have determined that we are the primary beneficiary of such VIEs and, accordingly, we consolidate such entities into our condensed, consolidated financial statements. See Note N — <i>Variable Interest Entities </i>for more information on VIEs<i>.</i> </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     At June 30, 2011, approximately $21 billion of our flight equipment was pledged as collateral for the $9.3 billion of secured debt outstanding. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%"><i>Senior Secured Bonds</i> </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     On August 20, 2010, we issued $3.9 billion of senior secured notes, with $1.35 billion maturing in September 2014 and bearing interest of 6.5%, $1.275 billion maturing in September 2016 and bearing interest of 6.75%, and $1.275 billion maturing in September 2018 and bearing interest of 7.125%. The notes are secured by a designated pool of aircraft, initially consisting of 174 aircraft and their related leases. In addition, two of ILFC’s subsidiaries, which either own or hold leases of aircraft included in the pool securing the notes, have guaranteed the notes. We can redeem the notes at any time prior to their maturity, provided we give notification between 30 to 60 days prior to the intended redemption date and subject to a penalty of the greater of 1% of the outstanding principal amount and a “make-whole” premium. There is no sinking fund for the notes. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     The indenture governing the senior secured notes contains customary covenants that, among other things, restrict our and our restricted subsidiaries’ ability to: <i>(i) </i>create liens; <i>(ii)</i> sell, transfer or otherwise dispose of assets; <i>(iii) </i>declare or pay dividends or acquire or retire shares of our capital stock; <i>(iv) </i>designate restricted subsidiaries as non-restricted subsidiaries or designate non-restricted subsidiaries; <i>(v) </i>make investments in or transfer assets to non-restricted subsidiaries; and <i>(vi) </i>consolidate, merge, sell or otherwise dispose of all, or substantially all, of our assets. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     The indenture also provides for customary events of default, including but not limited to, the failure to pay scheduled principal and interest payments on the notes, the failure to comply with covenants and agreements specified in the indenture, the acceleration of certain other indebtedness resulting from non-payment of that indebtedness, and certain events of insolvency. If any event of default occurs, any amount then outstanding under the senior secured notes may immediately become due and payable. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%"><i>Export Credit Facilities</i> </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     We entered into ECA facility agreements in 1999 and 2004 through certain direct and indirect wholly-owned subsidiaries that have been designated as non-restricted subsidiaries under our indentures. The 1999 and 2004 ECA facilities were used to fund purchases of Airbus aircraft through 2001 and June 2010, respectively. New financings are no longer available to us under either ECA facility and we had no loans outstanding under the 1999 ECA facility as of June 30, 2011. The loans made under the ECA facilities were used to fund a portion of each aircraft’s net purchase price. The loans are guaranteed by various European ECAs. We have collateralized the debt with pledges of the shares of wholly-owned subsidiaries that hold title to the aircraft financed under the facilities. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     In January 1999, we entered into the 1999 ECA facility and used amounts borrowed under this facility to finance purchases of 62 Airbus aircraft through 2001. At June 30, 2011, all loans under the facility had been paid in full. The facility is, however, party to a cross-collateralization agreement relating to the 2004 ECA facility, as further discussed below. The net book value of the aircraft used as collateral under this facility was $1.5 billion at June 30, 2011. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     In May 2004, we entered into the 2004 ECA facility, which was amended in May 2009 to allow us to borrow up to $4.6 billion for the purchase of Airbus aircraft delivered through June 30, 2010. We used $4.3 billion of the available amount to finance purchases of 76 aircraft. Each aircraft purchased was financed by a ten-year fully amortizing loan. As of June 30, 2011, approximately $2.5 billion was outstanding under this facility. The interest rates on the loans outstanding under the facility are either fixed or based on LIBOR and ranged from 0.37% to 4.71% at June 30, 2011. The net book value of the aircraft purchased under this facility was $4.4 billion at June 30, 2011. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     Because of our current long-term debt ratings, the 2004 ECA facility requires us to segregate security deposits, overhaul rentals and rental payments received for aircraft with loan balances outstanding under the 2004 ECA facility (segregated rental payments are used to make scheduled principal and interest payments on the outstanding debt under the 2004 ECA facility). The segregated funds are deposited into separate accounts pledged to and controlled by the security trustee of the facility. In addition, we must register the existing individual mortgages on certain aircraft funded under both the 1999 and 2004 ECA facilities in the local jurisdictions in which the respective aircraft are registered (mortgages are only required to be filed on aircraft with loan balances outstanding or otherwise as agreed in connection with the cross-collateralization agreement as described below). At June 30, 2011, we had segregated security deposits, overhaul rentals and rental payments aggregating approximately $397 million related to aircraft funded under the 2004 ECA facility. The segregated amounts will fluctuate with changes in security deposits, overhaul rentals, rental payments and debt maturities related to the aircraft funded under the 2004 ECA facility. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     During the first quarter of 2010, we entered into agreements to cross-collateralize the 1999 ECA facility with the 2004 ECA facility. As part of such cross-collateralization we <i>(i)</i> guaranteed the obligations under the 2004 ECA facility through our subsidiary established to finance Airbus aircraft under our 1999 ECA facility; <i>(ii) </i>agreed to grant mortgages over certain aircraft financed under the 1999 ECA facility and security interests over other collateral related to the aircraft financed under the 1999 ECA facility to secure the guaranty obligation; <i>(iii) </i>accepted a loan-to-value ratio (aggregating the loans and aircraft from the 1999 ECA facility and the 2004 ECA facility) of no more than 50%, in order to release liens (including the liens incurred under the cross-collateralization agreement) on any aircraft financed under the 1999 or 2004 ECA facilities or other assets related to the aircraft; and <i>(iv) </i>agreed to allow proceeds generated from certain disposals of aircraft to be applied to obligations under the 2004 ECA facility. As of June 30, 2011, there were no outstanding obligations under the 1999 ECA facility. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     We also agreed to additional restrictive covenants relating to the 2004 ECA facility, restricting us from <i>(i) </i>paying dividends on our capital stock with the proceeds of asset sales and <i>(ii) </i>selling or transferring aircraft with an aggregate net book value exceeding a certain disposition amount, which is currently approximately $10.3 billion. The disposition amount will be reduced by approximately $91.4 million at the end of each calendar quarter during the effective period. The covenants are in effect from the date of the agreement until December 31, 2012. A breach of these restrictive covenants would result in a termination event for the ten loans funded subsequent to the date of the agreement and would make those loans, which aggregated $285.2 million at June 30, 2011, due in full at the time of such a termination event. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     In addition, if a termination event resulting in an acceleration of the obligations under the 2004 ECA facility were to occur, pursuant to the cross-collateralization agreement, we would have to segregate lease payments, overhaul rentals and security deposits received after such acceleration event occurred relating to all the aircraft funded under the 1999 ECA facility, even though those aircraft are no longer subject to a loan at June 30, 2011. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%"><i>Secured Bank Debt</i> </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     We have a credit facility, dated October 13, 2006, as amended, under which the original maximum amount available was $2.5 billion. We repaid aggregate principal amounts of loans outstanding under this facility of $800 million and $200 million in the fourth quarter of 2010 and in June 2011, respectively. The amended facility prohibits us from re-borrowing amounts repaid under this facility. Therefore, the current size of the facility is $1.5 billion. As of June 30, 2011, we had secured loans of $1.29 billion outstanding under the facility, all of which will mature in October 2012. The interest on $1.25 billion of the secured loans is based on LIBOR plus a margin of 2.15%, plus facility fees of 0.2% on the outstanding principal balance and the remaining $43.0 million had an interest rate of 4.75% at June 30, 2011. The remaining $207 million outstanding under the facility consists of unsecured loans that will mature on their originally scheduled maturity date of October 13, 2011, with a LIBOR based interest rate plus a margin of 0.65% plus facility fees of 0.2% of the outstanding balance. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     The collateralization requirement under the amended facility provides that the $1.29 billion of secured loans must be secured by a lien on the equity interests of certain of ILFC’s non-restricted subsidiaries that own aircraft with aggregate appraised values of originally not less than 133% of the outstanding principal amount (the “Required Collateral Amount”). The credit facility includes an ongoing requirement, tested periodically, that the appraised value of the eligible aircraft owned by the pledged subsidiaries must be equal to or greater than 100% of the Required Collateral Amount. This ongoing requirement is subject to the right to transfer additional eligible aircraft to the pledged subsidiaries or ratably prepay the loans. We also guarantee the secured loans through certain other subsidiaries. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     The credit facility also contains financial and restrictive covenants that <i>(i) </i>limit our ability to incur indebtedness; <i>(ii) </i>restrict certain payments, liens and sales of assets by us; and <i>(iii) </i>require us to maintain a fixed charge coverage ratio and consolidated tangible net worth in excess of certain minimum levels. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     On March 30, 2011, one of our non-restricted subsidiaries entered into a secured term loan agreement with lender commitments in the amount of approximately $1.3 billion, which was subsequently increased to approximately $1.5 billion. The loan matures on March 30, 2018, with scheduled principal payments commencing in June 2012, and bears interest at LIBOR plus a margin of 2.75%, or, if applicable, a base rate plus a margin of 1.75%. The obligations of the subsidiary borrower are guaranteed on an unsecured basis by ILFC and on a secured basis by certain wholly-owned subsidiaries of the subsidiary borrower. The security granted initially includes a portfolio of 54 aircraft, together with attached leases and all related equipment, with an average appraised base market value of approximately $2.4 billion as of January 1, 2011. The $2.4 billion equals an initial loan-to-value ratio of approximately 65% and the equity interests in certain SPEs that will own the aircraft and related equipment and leases that are pledged as security for the loans. The proceeds of the loan will be made available to the subsidiary borrower as aircraft are transferred to the SPEs, at an advance rate equal to 65% of the initial appraised value of the aircraft transferred to the SPEs. At June 30, 2011 and August 5, 2011, respectively, approximately $181 million and $696 million had been advanced to the subsidiary borrower under the agreement. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     The subsidiary borrower will be required to maintain compliance with a maximum loan-to-value ratio, which varies over time, as set forth in the term loan agreement. If the subsidiary borrower does not maintain compliance with the maximum loan-to-value ratio, it will be required to either prepay portions of the outstanding loans or transfer additional aircraft to SPEs, subject to certain concentration criteria, so that the ratio is equal to or less than the maximum loan-to-value ratio. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     We can voluntarily prepay the loan at any time, subject to a 2% prepayment penalty prior to March 30, 2012, and a 1% prepayment penalty between March 30, 2012 and March 30, 2013. The loan facility contains customary covenants and events of default, including covenants that limit the ability of the subsidiary borrower and its subsidiaries to <i>(i) </i>incur additional indebtedness; <i>(ii) </i>create liens; <i>(iii) </i>consolidate, merge or dispose of all or substantially all of their assets; and <i>(iv) </i>enter into transactions with affiliates. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     In May 2009, ILFC provided $39.0 million of subordinated financing to a non-restricted subsidiary. The entity used these funds and an additional $106.0 million borrowed from third parties to purchase an aircraft, which it leases to an airline. ILFC acts as servicer of the lease for the entity. The $106.0 million loan has two tranches. The first tranche is $82.0 million, fully amortizes over the lease term, and is non-recourse to ILFC. The second tranche is $24.0 million, partially amortizes over the lease term, and is guaranteed by ILFC. Both tranches of the loan are secured by the aircraft and the lease receivables. Both tranches mature in May 2018 with interest rates based on LIBOR. At June 30, 2011, the interest rates on the $82.0 million and $24.0 million tranches were 3.34% and 5.04%, respectively. The entity entered into two interest rate cap agreements to economically hedge the related LIBOR interest rate risk in excess of 4.00%. At June 30, 2011, $83.8 million was outstanding under the two tranches and the net book value of the aircraft was $134.7 million. </div>   </div>  <div style="font-family: 'Times New Roman',Times,serif"> <div align="center" style="font-size: 10pt; margin-top: 0pt"> <b> </b> </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">  In June 2009, we borrowed $55.4 million through a non-restricted subsidiary, which owns one aircraft leased to an airline. Half of the original loan amortizes over five years and the remaining $27.7 million is due in 2014. The loan is non-recourse to ILFC and is secured by the aircraft and the lease receivables. The interest rate on the loan is fixed at 6.58%. At June 30, 2011, $43.7 million was outstanding and the net book value of the aircraft was $89.8 million. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%"><i>Other Secured Financing Arrangements</i> </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     On March 17, 2010, we entered into a $750 million term loan agreement secured by 43 aircraft and all related equipment and leases. The aircraft had an average appraised base market value of approximately $1.3 billion, for an initial loan-to-value ratio of approximately 56%. The loan matures on March 17, 2015, and bears interest at LIBOR plus a margin of 4.75% with a LIBOR floor of 2.0%. The principal of the loan is payable in full at maturity with no scheduled amortization, but we can voluntarily prepay the loan at any time. On March 17, 2010, we also entered into an additional term loan agreement of $550 million through a newly formed non-restricted subsidiary. The obligations of the subsidiary borrower are guaranteed on an unsecured basis by ILFC and on a secured basis by certain non-restricted subsidiaries of ILFC that hold title to 37 aircraft. The aircraft had an average appraised base market value of approximately $969 million, for an initial loan-to-value ratio of approximately 57%. The loan matures on March 17, 2016, and bears interest at LIBOR plus a margin of 5.0% with a LIBOR floor of 2.0%. The principal of the loan is payable in full at maturity with no scheduled amortization. The proceeds from this loan are restricted from use in our operations until we transfer the related collateral to the non-restricted subsidiaries. At June 30, 2011, approximately $24 million of the proceeds remained restricted. We can voluntarily prepay the loan at any time, subject to a 1% prepayment penalty prior to March 17, 2012. Both loans require a loan-to-value ratio of no more than 63%. The loans also contain customary covenants and events of default, including limitations on the ability of us and our subsidiaries, as applicable, to create liens; incur additional indebtedness; consolidate, merge, sell or otherwise dispose of all or substantially all of our assets; and enter into transactions with affiliates. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     The subsidiary borrower will be required to maintain compliance with a maximum loan-to-value ratio, which varies over time, as set forth in the term loan agreement. If the subsidiary borrower does not maintain compliance with the maximum loan-to-value ratio, it will be required to either prepay portions of the outstanding loans or transfer additional aircraft to SPEs, subject to certain concentration criteria, so that the ratio is equal to or less than the maximum loan-to-value ratio. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%"><i>Unsecured Bonds and Medium-Term Notes</i> </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     <i>Shelf Registration Statement</i>: We have an effective shelf registration statement filed with the SEC. As a result of our WKSI status, we have an unlimited amount of debt securities registered for sale under the shelf registration statement. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     Under our shelf registration statement, we issued: <i>(i) </i>$1.0 billion of 5.75% notes due 2016 and $1.25 billion of 6.25% notes due 2019 on May 24, 2011; <i>(ii) </i>$1.0 billion of 8.25% notes due 2020 on December 7, 2010; and <i>(iii) </i>$500 million of 8.875% notes due 2017 on August 20, 2010. At June 30, 2011, after the completion of tender offers to purchase certain notes on June 17, 2011, as further discussed below, we also had $7.2 billion of public bonds and medium-term notes outstanding, with interest rates ranging from 0.60% to 7.95%, which we had issued in prior years under previous registration statements. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     The aggregate net proceeds from the sale of the notes issued on May 24, 2011, were approximately $2.22 billion after deducting underwriting discounts and commissions, fees and estimated offering expenses. The net proceeds from the sale of the notes were primarily used to purchase notes validly tendered and accepted in our tender offers that we announced during the second quarter of 2011 to purchase various series of our outstanding debt securities for up to $1.75 billion cash consideration. </div>   </div>  <div style="font-family: 'Times New Roman',Times,serif"> <div align="center" style="font-size: 10pt; margin-top: 0pt"> <b> </b> </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     <i>Tender Offers to Purchase Notes</i>: On June 17, 2011, we completed the above mentioned tender offers and accepted for purchase previously issued notes with an aggregate principal amount of approximately $1.67 billion, resulting in total cash consideration, including accrued and unpaid interest, of approximately $1.75 billion. In connection with the cancellation of the notes, we recognized losses aggregating approximately $61.1 million, which included the cost of repurchasing the notes and the write off of the remaining unamortized deferred financing costs. The following notes were accepted for purchase by us in the tender offers: </div> <div align="center"> <table style="font-size: 10pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">  <tr valign="bottom"> <td width="64%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2">Aggregate</td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2">Aggregate</td> <td> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2">Principal Amount</td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2">Principal Amount</td> <td> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2">Outstanding</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2">Total Principal</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2">Outstanding upon</td> <td> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2">before Tender</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2">Amount Accepted</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2">Completion of</td> <td> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td nowrap="nowrap" align="left" style="border-bottom: 0px solid #000000"></td> <td> </td> <td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">Offers (a)</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">for Purchase (b)</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">Tender Offers</td> <td> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td align="left">Title of Security</td> <td> </td> <td nowrap="nowrap" align="center" colspan="10">(Dollars in thousands)</td> <td> </td> </tr>   <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:15px; text-indent:-15px">4.750% Medium-Term Notes, Series Q, due January 13, 2012 </div></td> <td> </td> <td align="left">$</td> <td align="right">500,000</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">293,496</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">206,504</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">5.400% Medium-Term Notes, Series R, due February 15, 2012 </div></td> <td> </td> <td> </td> <td align="right">750,000</td> <td> </td> <td> </td> <td> </td> <td align="right">386,623</td> <td> </td> <td> </td> <td> </td> <td align="right">363,377</td> <td> </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:15px; text-indent:-15px">5.350% Medium-Term Notes, Series R, due March 1, 2012 </div></td> <td> </td> <td> </td> <td align="right">600,000</td> <td> </td> <td> </td> <td> </td> <td align="right">265,371</td> <td> </td> <td> </td> <td> </td> <td align="right">334,629</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">5.300% Medium-Term Notes, Series R, due May 1, 2012 </div></td> <td> </td> <td> </td> <td align="right">850,000</td> <td> </td> <td> </td> <td> </td> <td align="right">402,993</td> <td> </td> <td> </td> <td> </td> <td align="right">447,007</td> <td> </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:15px; text-indent:-15px">5.550% Medium-Term Notes, Series Q, due September 5, 2012 </div></td> <td> </td> <td> </td> <td align="right">300,000</td> <td> </td> <td> </td> <td> </td> <td align="right">100,872</td> <td> </td> <td> </td> <td> </td> <td align="right">199,128</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">5.000% Medium-Term Notes, Series Q, due September 15, 2012 </div></td> <td> </td> <td> </td> <td align="right">300,000</td> <td> </td> <td> </td> <td> </td> <td align="right">103,564</td> <td> </td> <td> </td> <td> </td> <td align="right">196,436</td> <td> </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:15px; text-indent:-15px">5.250% Medium-Term Notes, Series Q, due January 10, 2013 </div></td> <td> </td> <td> </td> <td align="right">300,000</td> <td> </td> <td> </td> <td> </td> <td align="right">72,234</td> <td> </td> <td> </td> <td> </td> <td align="right">227,766</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">6.375% Medium-Term Notes, Series R, due March 25, 2013 </div></td> <td> </td> <td> </td> <td align="right">1,000,000</td> <td> </td> <td> </td> <td> </td> <td align="right">47,146</td> <td> </td> <td> </td> <td> </td> <td align="right">952,854</td> <td> </td> </tr> <tr style="font-size: 1px"> <td> <div style="margin-left:15px; text-indent:-15px">  </div></td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td> <td> </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:15px; text-indent:-15px">Total </div></td> <td> </td> <td align="left">$</td> <td align="right">4,600,000</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">1,672,299</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">2,927,701</td> <td> </td> </tr> <tr style="font-size: 1px"> <td> <div style="margin-left:15px; text-indent:-15px">  </div></td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td> <td> </td> </tr>  </table> </div> <div align="left"> <div style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">  </div> </div> <table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; text-align: left"> <tr> <td width="3%"></td> <td width="1%"></td> <td width="96%"></td> </tr> <tr valign="top"> <td nowrap="nowrap" align="left">(a)</td> <td> </td> <td>As of June 2, 2011.</td> </tr> <tr style="font-size: 3pt"> <td> </td> </tr> <tr valign="top"> <td nowrap="nowrap" align="left">(b)</td> <td> </td> <td>Includes notes that were validly tendered and accepted on June 2, 2011, and for which payment was settled on June 3, 2011.</td> </tr> </table> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     <i>Euro Medium-Term Note Programme</i>: We have a $7.0 billion Euro Medium-Term Note Programme, which will expire in September 2011. We had approximately $1.2 billion of Euro denominated notes outstanding under such Programme at June 30, 2011. The notes mature on August 15, 2011, and bear interest based on Euribor with a spread of 0.375%. As a bond issue matures, the principal amount of that bond becomes available for new issuances under the Programme. We have eliminated the currency exposure arising from the notes by hedging the notes into U.S. dollars and fixing the interest rates at a range of 5.355% to 5.367%. We translate the debt into U.S. dollars using current exchange rates prevailing at the balance sheet date. The foreign exchange adjustment for the foreign currency denominated notes was $281.6 million and $165.4 million at June 30, 2011 and December 31, 2010, respectively. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     A rollforward for the six months ended June 30, 2011, of the foreign currency adjustment related to foreign currency denominated notes is presented below: </div>   </div>  <div style="font-family: 'Times New Roman',Times,serif"> <div align="center" style="font-size: 10pt; margin-top: 0pt"> <b> </b> </div> <div align="center"> <table style="font-size: 10pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">  <tr valign="bottom"> <td width="88%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td> </td> <td> </td> <td align="center" colspan="2" nowrap="nowrap">(Dollars in thousands)</td> <td> </td> </tr>   <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:15px; text-indent:-15px">Foreign currency adjustment related to foreign currency denominated debt at December 31, 2010 </div></td> <td> </td> <td align="left">$</td> <td align="right">165,400</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Foreign currency period adjustment of non-US$ denominated debt </div></td> <td> </td> <td> </td> <td align="right">116,200</td> <td> </td> </tr> <tr style="font-size: 1px"> <td> <div style="margin-left:15px; text-indent:-15px">  </div></td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td> <td> </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:15px; text-indent:-15px">Foreign currency adjustment related to foreign currency denominated debt at June 30, 2011 </div></td> <td> </td> <td align="left">$</td> <td align="right">281,600</td> <td> </td> </tr> <tr style="font-size: 1px"> <td> <div style="margin-left:15px; text-indent:-15px">  </div></td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td> <td> </td> </tr>  </table> </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     <i>Other Senior Notes</i>: On March 22, 2010 and April 6, 2010, we issued a combined $1.25 billion aggregate principal amount of 8.625% senior notes due September 15, 2015, and $1.5 billion aggregate principal amount of 8.750% senior notes due March 15, 2017, pursuant to an indenture dated as of March 22, 2010. The notes are due in full on their scheduled maturity dates. The notes are not subject to redemption prior to their stated maturity and there are no sinking fund requirements. In connection with the note issuances, we entered into registration rights agreements obligating us to, among other things, complete a registered exchange offer to exchange the notes of each series for new registered notes of such series with substantially identical terms, or register the notes pursuant to a shelf registration statement. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     The annual interest rate on the affected notes increased by 0.25% per year for 90 days, commencing on January 26, 2011, because the registration statement relating to the exchange offer was not declared effective by the SEC by that date, as required under the registration rights agreement. On April 26, 2011, the annual interest rate on the affected notes increased by an additional 0.25% because we were unable to consummate the exchange offer by such date. We completed the exchange offer on May 5, 2011, at which time the applicable interest rate reverted to the original level. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     The indenture governing the notes contains customary covenants that, among other things, restrict our, and our restricted subsidiaries’, ability to <i>(i) </i>incur liens on assets; <i>(ii)</i> declare or pay dividends or acquire or retire shares of our capital stock during certain events of default; <i>(iii) </i>designate restricted subsidiaries as non-restricted subsidiaries or designate non-restricted subsidiaries; <i>(iv) </i>make investments in or transfer assets to non-restricted subsidiaries; and <i>(v) </i>consolidate, merge, sell, or otherwise dispose of all or substantially all of our assets. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     The indenture also provides for customary events of default, including but not limited to, the failure to pay scheduled principal and interest payments on the notes, the failure to comply with covenants and agreements specified in the indenture, the acceleration of certain other indebtedness resulting from non-payment of that indebtedness, and certain events of insolvency. If any event of default occurs, any amount then outstanding under the senior notes may immediately become due and payable. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%"><i>Unsecured Bank Debt</i> </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     On January 31, 2011, we entered into a new $2.0 billion unsecured three-year revolving credit facility with a group of 11 banks that will expire on January 31, 2014. This revolving credit facility provides for interest rates based on either a base rate or LIBOR plus an applicable margin determined by a ratings-based pricing grid. The credit agreement contains customary events of default and restrictive financial covenants that require us to maintain a minimum fixed charge coverage ratio, a minimum consolidated tangible net worth and a maximum ratio of consolidated debt to consolidated tangible net worth. As of June 30, 2011, no amounts were outstanding under this revolving facility. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     As of June 30, 2011, $207.0 million of unsecured loans were outstanding under our credit agreement dated as of October 13, 2006. These loans remain unsecured and mature on October 13, 2011, the original maturity date for this credit facility. The interest on the loans is based on LIBOR plus a margin of 0.65% plus facility fees of 0.2% of the outstanding balance. The remaining outstanding loans under the agreement, as amended, are secured. See <i>Secured Bank Debt</i> above. </div>   </div>  <div style="font-family: 'Times New Roman',Times,serif"> <div align="center" style="font-size: 10pt; margin-top: 0pt"> <b> </b> </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%"><i>Subordinated Debt</i> </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     In December 2005, we issued two tranches of subordinated debt totaling $1.0 billion. Both tranches mature on December 21, 2065, but each tranche has a different call option. The $600 million tranche had a call option date of December 21, 2010, and the $400 million tranche has a call option date of December 21, 2015. We did not exercise the call option at December 21, 2010 and the interest rate on the $600 million tranche changed from a fixed interest rate of 5.90% to a floating rate with an initial credit spread of 1.55% plus the highest of <i>(i) </i>3 month LIBOR; <i>(ii) </i>10-year constant maturity treasury; and <i>(iii) </i>30-year constant maturity treasury. The interest will reset quarterly and at June 30, 2011, the interest rate was 5.74%. The $400 million tranche has a fixed interest rate of 6.25% until the 2015 call option date, and if we do not exercise the call option, the interest rate will change to a floating rate, reset quarterly, based on the initial credit spread of 1.80% plus the highest of <i>(i) </i>3 month LIBOR; <i>(ii) </i>10-year constant maturity treasury; and <i>(iii) </i>30-year constant maturity treasury. If we choose to redeem the $600 million tranche, we must pay 100% of the principal amount of the bonds being redeemed, plus any accrued and unpaid interest to the redemption date. If we choose to redeem only a portion of the outstanding bonds, at least $50 million principal amount of the bonds must remain outstanding. </div> </div>

<div style="font-family: 'Times New Roman',Times,serif"> <div align="left" style="font-size: 10pt; margin-top: 12pt"><b>H. Derivative Activities</b> </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     We use derivatives to manage exposures to interest rate and foreign currency risks. At June 30, 2011, we had interest rate and foreign currency swap agreements with a related counterparty and interest rate cap agreements with an unrelated counterparty. Our foreign currency swap agreements mature on August 15, 2011, our interest rate swap agreements mature in 2014 and 2015, and our interest rate cap agreements mature in 2018. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     We record changes in fair value of derivatives in income or OCI depending on the designation of the hedge as either a fair value hedge or cash flow hedge, respectively. Where hedge accounting is not achieved, the change in fair value of the derivative is recorded in income. In the case of a re-designation of a derivative contract, the balance accumulated in AOCI at the time of the re-designation is amortized into income over the remaining life of the underlying derivative. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     We have entered into two interest rate cap agreements with an unrelated counterparty in connection with a secured financing transaction. We have not designated the interest rate caps as hedges, and all changes in fair value are recorded in income. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     All of our interest rate and foreign currency swap agreements are subject to a master netting agreement, which would allow the netting of derivative assets and liabilities in the case of default under any one contract. During the second quarter of 2011, we novated our trades and our master netting agreement, changing our counterparty from AIGFP to AIG Markets, Inc., both wholly-owned subsidiaries of AIG. All other terms of our master netting agreement remained unchanged and all instruments designated as hedges continued to qualify for their respective treatment under US GAAP. Our derivative portfolio is recorded at fair value on our balance sheet on a net basis in Derivative assets, net (see Note I — <i>Fair Value Measurements</i>). We account for all of our interest rate swap and foreign currency swap agreements as cash flow hedges. We do not have any credit risk related contingent features and are not required to post collateral under any of our existing derivative contracts. </div>   </div>  <div style="font-family: 'Times New Roman',Times,serif"> <div align="center" style="font-size: 10pt; margin-top: 0pt"> <b> </b> </div> <div align="left" style="font-size: 10pt; margin-top: 6pt">     Derivatives have notional amounts, which generally represent amounts used to calculate contractual cash flows to be exchanged under the contract. The following table presents notional and fair values of derivatives outstanding at the following dates: </div> <div align="center"> <table style="font-size: 10pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">  <tr valign="bottom"> <td width="52%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="6" style="border-bottom: 1px solid #000000">Asset Derivatives</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="6" style="border-bottom: 1px solid #000000">Liability Derivatives</td> <td> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">Notional Value</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">Fair Value</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">Notional Value</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">Fair Value</td> <td> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 0px solid #000000">USD</td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 0px solid #000000">USD</td> <td> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="6">(In thousands)</td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr>   <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:15px; text-indent:-15px">June 30, 2011: </div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Derivatives designated as hedging instruments: </div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:15px; text-indent:-15px">Interest rate swap agreements (a) </div></td> <td> </td> <td align="left">$</td> <td align="right">—</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">—</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">553,319</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">(48,004 </td> <td nowrap="nowrap">)</td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Foreign exchange swap agreements </div></td> <td> </td> <td align="left">€</td> <td align="right">1,000,000</td> <td> </td> <td> </td> <td> </td> <td align="right">254,200</td> <td> </td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> </tr> <tr style="font-size: 1px"> <td> <div style="margin-left:15px; text-indent:-15px">  </div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td> <td> </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:15px; text-indent:-15px">Total derivatives designated as hedging instruments </div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">254,200</td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">(48,004 </td> <td nowrap="nowrap">)</td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Derivatives not designated as hedging instruments: </div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:15px; text-indent:-15px">Interest rate cap agreements </div></td> <td> </td> <td align="left">$</td> <td align="right">83,788</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">708</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">—</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">—</td> <td> </td> </tr> <tr style="font-size: 1px"> <td> <div style="margin-left:15px; text-indent:-15px">  </div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Total derivatives </div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">254,908</td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">(48,004 </td> <td nowrap="nowrap">)</td> </tr> <tr style="font-size: 1px"> <td> <div style="margin-left:15px; text-indent:-15px">  </div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">  </div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:15px; text-indent:-15px">December 31, 2010: </div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Derivatives designated as hedging instruments: </div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:15px; text-indent:-15px">Interest rate swap agreements (a) </div></td> <td> </td> <td align="left">$</td> <td align="right">—</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">—</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">625,717</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">(56,244 </td> <td nowrap="nowrap">)</td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Foreign exchange swap agreements </div></td> <td> </td> <td align="left">€</td> <td align="right">1,000,000</td> <td> </td> <td> </td> <td> </td> <td align="right">114,431</td> <td> </td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> </tr> <tr style="font-size: 1px"> <td> <div style="margin-left:15px; text-indent:-15px">  </div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td> <td> </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:15px; text-indent:-15px">Total derivatives designated as hedging instruments </div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">114,431</td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">(56,244 </td> <td nowrap="nowrap">)</td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Derivatives not designated as hedging instruments: </div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:15px; text-indent:-15px">Interest rate cap agreements </div></td> <td> </td> <td align="left">$</td> <td align="right">89,520</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">1,963</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">—</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">—</td> <td> </td> </tr> <tr style="font-size: 1px"> <td> <div style="margin-left:15px; text-indent:-15px">  </div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Total derivatives </div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">116,394</td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">(56,244 </td> <td nowrap="nowrap">)</td> </tr> <tr style="font-size: 1px"> <td> <div style="margin-left:15px; text-indent:-15px">  </div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td> <td> </td> </tr>  </table> </div> <div align="left"> <div style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">  </div> </div> <table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; text-align: left"> <tr> <td width="3%"></td> <td width="1%"></td> <td width="96%"></td> </tr> <tr valign="top"> <td nowrap="nowrap" align="left">(a)</td> <td> </td> <td>Converts floating interest rate debt into fixed rate debt.</td> </tr> </table>   </div>  <div style="font-family: 'Times New Roman',Times,serif"> <div align="center" style="font-size: 10pt; margin-top: 0pt"> <b> </b> </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     During the three and six months ended June 30, 2011 and 2010, we recorded the following in OCI related to derivative instruments: </div> <div align="center"> <table style="font-size: 10pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">  <tr valign="bottom"> <td width="52%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="6">Gain (Loss)</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="6">Gain (Loss)</td> <td> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="6">Three Months Ended</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="6">Six Months Ended</td> <td> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="6" style="border-bottom: 0px solid #000000">June 30,</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="6" style="border-bottom: 0px solid #000000">June 30,</td> <td> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">2011</td> <td style="border-bottom: 1px solid #000000"> </td> <td style="border-bottom: 1px solid #000000"> </td> <td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</td> <td style="border-bottom: 1px solid #000000"> </td> <td style="border-bottom: 1px solid #000000"> </td> <td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">2011</td> <td style="border-bottom: 1px solid #000000"> </td> <td style="border-bottom: 1px solid #000000"> </td> <td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</td> <td> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="6">(Dollars in thousands)</td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr>   <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:15px; text-indent:-15px">Effective portion of change in fair market value of derivatives (a)(b) </div></td> <td> </td> <td align="left">$</td> <td align="right">44,955</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">(166,030</td> <td nowrap="nowrap">)</td> <td> </td> <td align="left">$</td> <td align="right">145,613</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">(221,234</td> <td nowrap="nowrap">)</td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Foreign exchange component of cross currency swaps (credited) charged to income </div></td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(32,100</td> <td nowrap="nowrap">)</td> <td> </td> <td> </td> <td align="right">203,520</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(116,200</td> <td nowrap="nowrap">)</td> <td> </td> <td> </td> <td align="right">334,720</td> <td> </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:15px; text-indent:-15px">Amortization of balances of de-designated hedges and other adjustments </div></td> <td> </td> <td> </td> <td align="right">874</td> <td> </td> <td> </td> <td> </td> <td align="right">1,040</td> <td> </td> <td> </td> <td> </td> <td align="right">1,915</td> <td> </td> <td> </td> <td> </td> <td align="right">1,292</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Income tax effect </div></td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(4,805</td> <td nowrap="nowrap">)</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(13,485</td> <td nowrap="nowrap">)</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(10,965</td> <td nowrap="nowrap">)</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(40,172</td> <td nowrap="nowrap">)</td> </tr> <tr style="font-size: 1px"> <td> <div style="margin-left:15px; text-indent:-15px">  </div></td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td> <td> </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:15px; text-indent:-15px">Net changes in cash flow hedges, net of taxes </div></td> <td> </td> <td align="left">$</td> <td align="right">8,924</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">25,045</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">20,363</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">74,606</td> <td> </td> </tr> <tr style="font-size: 1px"> <td> <div style="margin-left:15px; text-indent:-15px">  </div></td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td> <td> </td> </tr>  </table> </div> <div align="left"> <div style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">  </div> </div> <table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; text-align: left"> <tr> <td width="3%"></td> <td width="1%"></td> <td width="96%"></td> </tr> <tr valign="top"> <td nowrap="nowrap" align="left">(a)</td> <td> </td> <td>Includes $(255) and $(299) of combined CVA and MVA for the three and six month periods ended June 30, 2011, respectively, and $25,208 and $(62,620) of combined CVA and MVA for the three and six month periods ended June 30, 2010, respectively.</td> </tr> <tr style="font-size: 3pt"> <td> </td> </tr> <tr valign="top"> <td nowrap="nowrap" align="left">(b)</td> <td> </td> <td>2010 includes losses of $(15,409) on a derivative contract that matured during the six months ended June 30, 2010, that was de-designated as a cash flow hedge and then subsequently re-designated during the life of the contract.</td> </tr> </table> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     The following table presents the effective portion of the unrealized gain (loss) on derivative positions recorded in OCI: </div> <div align="center"> <table style="font-size: 10pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">  <tr valign="bottom"> <td width="52%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="14">Amount of Unrealized Gain or (Loss)</td> <td> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="14">Recorded in OCI on Derivatives</td> <td> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="14" style="border-bottom: 1px solid #000000">(Effective Portion)</td> <td> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="6">Three Months Ended</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="6">Six Months Ended</td> <td> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="6" style="border-bottom: 0px solid #000000">June 30,</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="6" style="border-bottom: 0px solid #000000">June 30,</td> <td> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td nowrap="nowrap" align="left" style="border-bottom: 0px solid #000000"></td> <td> </td> <td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">2011</td> <td style="border-bottom: 1px solid #000000"> </td> <td style="border-bottom: 1px solid #000000"> </td> <td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</td> <td style="border-bottom: 1px solid #000000"> </td> <td style="border-bottom: 1px solid #000000"> </td> <td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">2011</td> <td style="border-bottom: 1px solid #000000"> </td> <td style="border-bottom: 1px solid #000000"> </td> <td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</td> <td> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td align="left">Derivatives Designated as Cash Flow Hedges</td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="6">(Dollars in thousands)</td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr>   <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:15px; text-indent:-15px">Interest rate swap agreements </div></td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">(6,093</td> <td nowrap="nowrap">)</td> <td> </td> <td align="left">$</td> <td align="right">4,836</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">(5,717</td> <td nowrap="nowrap">)</td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">(4,582</td> <td nowrap="nowrap">)</td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Foreign exchange swap agreements </div></td> <td> </td> <td> </td> <td align="right">34,778</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(198,011</td> <td nowrap="nowrap">)</td> <td> </td> <td> </td> <td align="right">117,494</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(271,080</td> <td nowrap="nowrap">)</td> </tr> <tr style="font-size: 1px"> <td> <div style="margin-left:15px; text-indent:-15px">  </div></td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td> <td> </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:15px; text-indent:-15px">Total (a) </div></td> <td> </td> <td align="left">$</td> <td align="right">28,685</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">(193,175</td> <td nowrap="nowrap">)</td> <td> </td> <td align="left">$</td> <td align="right">111,777</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">(275,662</td> <td nowrap="nowrap">)</td> </tr> <tr style="font-size: 1px"> <td> <div style="margin-left:15px; text-indent:-15px">  </div></td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td> <td> </td> </tr>  </table> </div> <div align="left"> <div style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">  </div> </div> <table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; text-align: left"> <tr> <td width="3%"></td> <td width="1%"></td> <td width="96%"></td> </tr> <tr valign="top"> <td nowrap="nowrap" align="left">(a)</td> <td> </td> <td>Includes $(255) and $(299) of combined CVA and MVA for the three and six month periods ended June 30, 2011, respectively, and $25,208 and $(62,620) of combined CVA and MVA for the three and six month periods ended June 30, 2010, respectively.</td> </tr> </table>   </div>  <div style="font-family: 'Times New Roman',Times,serif"> <div align="center" style="font-size: 10pt; margin-top: 0pt"> <b> </b> </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     The following table presents amounts reclassified from AOCI into income when cash payments were made or received on our qualifying cash flow hedges: </div> <div align="center"> <table style="font-size: 10pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">  <tr valign="bottom"> <td width="52%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="14">Amount of Gain or (Loss) Reclassified from</td> <td> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="14">AOCI Into Income</td> <td> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="14" style="border-bottom: 1px solid #000000">(Effective Portion)</td> <td> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="6">Three Months Ended</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="6">Six Months Ended</td> <td> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td nowrap="nowrap" align="left">Location of Gain or (Loss) Reclassified from AOCI</td> <td> </td> <td nowrap="nowrap" align="center" colspan="6" style="border-bottom: 0px solid #000000">June 30,</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="6" style="border-bottom: 0px solid #000000">June 30,</td> <td> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td nowrap="nowrap" align="left" style="border-bottom: 0px solid #000000">into Income (Effective Portion)</td> <td> </td> <td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">2011</td> <td style="border-bottom: 1px solid #000000"> </td> <td style="border-bottom: 1px solid #000000"> </td> <td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</td> <td style="border-bottom: 1px solid #000000"> </td> <td style="border-bottom: 1px solid #000000"> </td> <td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">2011</td> <td style="border-bottom: 1px solid #000000"> </td> <td style="border-bottom: 1px solid #000000"> </td> <td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</td> <td> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="6">(Dollars in thousands)</td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr>   <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:15px; text-indent:-15px">Interest rate swap agreements — interest expense </div></td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">(6,511</td> <td nowrap="nowrap">)</td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">(8,128</td> <td nowrap="nowrap">)</td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">(13,414</td> <td nowrap="nowrap">)</td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">(16,915</td> <td nowrap="nowrap">)</td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Foreign exchange swap agreements — interest expense </div></td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(9,759</td> <td nowrap="nowrap">)</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(19,017</td> <td nowrap="nowrap">)</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(20,422</td> <td nowrap="nowrap">)</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(37,289</td> <td nowrap="nowrap">)</td> </tr> <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:15px; text-indent:-15px">Foreign exchange swap agreements — lease revenue </div></td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(224</td> <td nowrap="nowrap">)</td> </tr> <tr style="font-size: 1px"> <td> <div style="margin-left:15px; text-indent:-15px">  </div></td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Total </div></td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">(16,270</td> <td nowrap="nowrap">)</td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">(27,145</td> <td nowrap="nowrap">)</td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">(33,836</td> <td nowrap="nowrap">)</td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">(54,428</td> <td nowrap="nowrap">)</td> </tr> <tr style="font-size: 1px"> <td> <div style="margin-left:15px; text-indent:-15px">  </div></td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td> <td> </td> </tr>  </table> </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     We estimate that within the next twelve months, we will amortize into earnings approximately $73.3 million of the pre-tax balance in AOCI under cash flow hedge accounting in connection with our program to convert debt from floating to fixed interest rates. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     The following table presents the effect of derivatives recorded in the Condensed, Consolidated Statements of Income for the three and six months ended June 30, 2011 and 2010: </div> <div align="center"> <table style="font-size: 10pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">  <tr valign="bottom"> <td width="52%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="14">Amount of Gain or (Loss) Recognized</td> <td> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="14">in Income on Derivatives</td> <td> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="14" style="border-bottom: 1px solid #000000">(Ineffective Portion) (a)</td> <td> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="6">Three Months Ended</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="6">Six Months Ended</td> <td> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="6" style="border-bottom: 0px solid #000000">June 30,</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="6" style="border-bottom: 0px solid #000000">June 30,</td> <td> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">2011</td> <td style="border-bottom: 1px solid #000000"> </td> <td style="border-bottom: 1px solid #000000"> </td> <td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</td> <td style="border-bottom: 1px solid #000000"> </td> <td style="border-bottom: 1px solid #000000"> </td> <td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">2011</td> <td style="border-bottom: 1px solid #000000"> </td> <td style="border-bottom: 1px solid #000000"> </td> <td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</td> <td> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="6">(Dollars in thousands)</td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr>   <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:15px; text-indent:-15px">Derivatives Designated as Cash Flow Hedges: </div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:30px; text-indent:-15px">Interest rate swap agreements </div></td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">(27</td> <td nowrap="nowrap">)</td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">(32</td> <td nowrap="nowrap">)</td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">(58</td> <td nowrap="nowrap">)</td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">(91</td> <td nowrap="nowrap">)</td> </tr> <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:30px; text-indent:-15px">Foreign exchange swap agreements </div></td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(322</td> <td nowrap="nowrap">)</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(2,338</td> <td nowrap="nowrap">)</td> <td> </td> <td> </td> <td align="right">1,008</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(25,629</td> <td nowrap="nowrap">)</td> </tr> <tr style="font-size: 1px"> <td> <div style="margin-left:15px; text-indent:-15px">  </div></td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:30px; text-indent:-15px">Total </div></td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(349</td> <td nowrap="nowrap">)</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(2,370</td> <td nowrap="nowrap">)</td> <td> </td> <td> </td> <td align="right">950</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(25,720</td> <td nowrap="nowrap">)</td> </tr> <tr style="font-size: 1px"> <td> <div style="margin-left:15px; text-indent:-15px">  </div></td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td> <td> </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:15px; text-indent:-15px">Derivatives Not Designated as a Hedge: </div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:30px; text-indent:-15px">Interest rate cap agreements (b) </div></td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(245</td> <td nowrap="nowrap">)</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(1,373</td> <td nowrap="nowrap">)</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(1,126</td> <td nowrap="nowrap">)</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(2,428</td> <td nowrap="nowrap">)</td> </tr> <tr style="font-size: 1px"> <td> <div style="margin-left:15px; text-indent:-15px">  </div></td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td> <td> </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:15px; text-indent:-15px">Reconciliation to Condensed, Consolidated Statements of Income: </div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:30px; text-indent:-15px">Income effect of maturing derivative contracts </div></td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(15,409</td> <td nowrap="nowrap">)</td> </tr> <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:30px; text-indent:-15px">Reclassification of amounts de-designated as hedges recorded in AOCI </div></td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(874</td> <td nowrap="nowrap">)</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(1,040</td> <td nowrap="nowrap">)</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(1,915</td> <td nowrap="nowrap">)</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(1,292</td> <td nowrap="nowrap">)</td> </tr> <tr style="font-size: 1px"> <td> <div style="margin-left:15px; text-indent:-15px">  </div></td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:30px; text-indent:-15px">Effect from derivatives, net of change in hedged items due to changes in foreign exchange rates </div></td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">(1,468</td> <td nowrap="nowrap">)</td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">(4,783</td> <td nowrap="nowrap">)</td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">(2,091</td> <td nowrap="nowrap">)</td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">(44,849</td> <td nowrap="nowrap">)</td> </tr> <tr style="font-size: 1px"> <td> <div style="margin-left:15px; text-indent:-15px">  </div></td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td> <td> </td> </tr>  </table> </div> <div align="left"> <div style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">  </div> </div> <table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; text-align: left"> <tr> <td width="3%"></td> <td width="1%"></td> <td width="96%"></td> </tr> <tr valign="top"> <td nowrap="nowrap" align="left">(a)</td> <td> </td> <td>All components of each derivative’s gain or loss were included in the assessment of effectiveness.</td> </tr> <tr style="font-size: 3pt"> <td> </td> </tr> <tr valign="top"> <td nowrap="nowrap" align="left">(b)</td> <td> </td> <td>An additional $(77) and $(6) and $(131) and $(7) of amortization of premium paid to the derivative counterparty was recognized in Interest expense during the three and six months ended June 30, 2011 and 2010, respectively.</td> </tr> </table>   </div>  <div style="font-family: 'Times New Roman',Times,serif"> <div align="center" style="font-size: 10pt; margin-top: 0pt"> <b> </b> </div> </div>

<div style="font-family: 'Times New Roman',Times,serif"> <div style="margin-top: 6pt"> <table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; text-align: left"> <tr valign="top" style="font-size: 10pt; color: #000000; background: transparent"> <td width="1%" nowrap="nowrap" align="left"><b>I.</b></td> <td width="1%"> </td> <td><b>Fair Value Measurements</b></td> </tr> </table> </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     Fair value is defined as the price that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between market participants at the measurement date. The degree of judgment used in measuring the fair value of financial instruments generally correlates with the level of pricing observability. Assets and liabilities recorded at fair value on our Condensed, Consolidated Balance Sheets are measured and classified in a hierarchy for disclosure purposes consisting of three levels based on the observability of inputs available in the marketplace used to measure the fair value. Level 1 refers to fair values determined based on quoted prices in active markets for identical assets; Level 2 refers to fair values estimated using significant other observable inputs; and Level 3 refers to fair values estimated using significant non-observable inputs. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     <i>Assets and Liabilities Measured at Fair Value on a Recurring Basis</i> </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     The following table presents our assets and liabilities measured at fair value on a recurring basis as of June 30, 2011 and December 31, 2010, categorized using the fair value hierarchy described above. </div> <div align="center"> <table style="font-size: 10pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">  <tr valign="bottom"> <td width="40%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">Level 1</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">Level 2</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">Level 3</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">Counterparty Netting (a)</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">Total</td> <td> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="18">(Dollars in thousands)</td> <td> </td> </tr>   <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:15px; text-indent:-15px">June 30, 2011: </div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Derivative assets </div></td> <td> </td> <td align="left">$</td> <td align="right">—</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">254,908</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">—</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">(48,004</td> <td nowrap="nowrap">)</td> <td> </td> <td align="left">$</td> <td align="right">206,904</td> <td> </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:15px; text-indent:-15px">Derivative liabilities </div></td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(48,004</td> <td nowrap="nowrap">)</td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">48,004</td> <td> </td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> </tr> <tr style="font-size: 1px"> <td> <div style="margin-left:15px; text-indent:-15px">  </div></td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Total </div></td> <td> </td> <td align="left">$</td> <td align="right">—</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">206,904</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">—</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">—</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">206,904</td> <td> </td> </tr> <tr style="font-size: 1px"> <td> <div style="margin-left:15px; text-indent:-15px">  </div></td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td> <td> </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:15px; text-indent:-15px">December 31, 2010: </div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Derivative assets </div></td> <td> </td> <td align="left">$</td> <td align="right">—</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">116,394</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">—</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">(56,244</td> <td nowrap="nowrap">)</td> <td> </td> <td align="left">$</td> <td align="right">60,150</td> <td> </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:15px; text-indent:-15px">Derivative liabilities </div></td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(56,244</td> <td nowrap="nowrap">)</td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">56,244</td> <td> </td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> </tr> <tr style="font-size: 1px"> <td> <div style="margin-left:15px; text-indent:-15px">  </div></td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Total </div></td> <td> </td> <td align="left">$</td> <td align="right">—</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">60,150</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">—</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">—</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">60,150</td> <td> </td> </tr> <tr style="font-size: 1px"> <td> <div style="margin-left:15px; text-indent:-15px">  </div></td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td> <td> </td> </tr>  </table> </div> <div align="left"> <div style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">  </div> </div> <table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; text-align: left"> <tr> <td width="3%"></td> <td width="1%"></td> <td width="96%"></td> </tr> <tr valign="top"> <td nowrap="nowrap" align="left">(a)</td> <td> </td> <td>As permitted under GAAP, we have elected to offset derivative assets and derivative liabilities under our master netting agreement.</td> </tr> </table> <div align="left" style="font-size: 10pt; margin-top: 6pt">     <i>Assets and Liabilities Measured at Fair Value on a Non-recurring Basis</i> </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     We measure the fair value of aircraft and certain other assets on a non-recurring basis, generally quarterly, annually, or when events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     The fair value of an aircraft is classified as a Level 3 valuation. Fair value of flight equipment is determined using an income approach based on the present value of cash flows from contractual lease agreements, contingent rentals where appropriate, and projected future lease payments, which extend to the end of the aircraft’s economic life in its highest and best use configuration, as well as a disposition value, based on the expectations of market participants. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     We recognized impairment charges and fair value adjustments for the three and six months ended June 30, 2011 and 2010, as provided in Note E — <i>Aircraft Impairment Charges and Fair Value Adjustments on Flight Equipment Sold or to be Disposed.</i> </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     The following table presents the effect on our condensed, consolidated financial statements as a result of the non-recurring impairment charges and fair value adjustments recorded to Flight equipment for the six months ended June 30, 2011: </div>   </div>  <div style="font-family: 'Times New Roman',Times,serif"> <div align="center" style="font-size: 10pt; margin-top: 0pt"> <b> </b> </div> <div align="center"> <table style="font-size: 10pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">  <tr valign="bottom"> <td width="28%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2"> </td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2">Impairment</td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2"> </td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2"> </td> <td> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2"> </td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2">Charges and </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2">Depreciation </td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2">Carrying </td> <td> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2">Book Value at</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2">Fair Value</td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2">and Other</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2">Value at June</td> <td> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">December 31, 2010</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">Adjustments</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">Reclassifications</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">Sales</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">Adjustments</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">30, 2011</td> <td> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="6">(Dollars in millions)</td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr>   <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:15px; text-indent:-15px">Flight equipment under operating lease </div></td> <td> </td> <td align="left">$</td> <td align="right">331.2</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">(150.6</td> <td nowrap="nowrap">)</td> <td> </td> <td align="left">$</td> <td align="right">75.6</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">(53.0</td> <td nowrap="nowrap">)</td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">(11.4</td> <td nowrap="nowrap">)</td> <td> </td> <td align="left">$</td> <td align="right">191.8</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Flight equipment held for sale </div></td> <td> </td> <td> </td> <td align="right">262.2</td> <td> </td> <td> </td> <td> </td> <td align="right">3.5</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(78.7</td> <td nowrap="nowrap">)</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(181.8</td> <td nowrap="nowrap">)</td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">5.2</td> <td> </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:15px; text-indent:-15px">Lease receivables and other assets </div></td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">3.1</td> <td> </td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">3.1</td> <td> </td> </tr> <tr style="font-size: 1px"> <td> <div style="margin-left:15px; text-indent:-15px">  </div></td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Total </div></td> <td> </td> <td align="left">$</td> <td align="right">593.4</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">(147.1</td> <td nowrap="nowrap">)</td> <td> </td> <td align="left">$</td> <td align="right">—</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">(234.8</td> <td nowrap="nowrap">)</td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">(11.4</td> <td nowrap="nowrap">)</td> <td> </td> <td align="left">$</td> <td align="right">200.1</td> <td> </td> </tr> <tr style="font-size: 1px"> <td> <div style="margin-left:15px; text-indent:-15px">  </div></td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td> <td> </td> </tr>  </table> </div> </div>

<div style="font-family: 'Times New Roman',Times,serif"> <div style="margin-top: 6pt"> <table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; text-align: left"> <tr valign="top" style="font-size: 10pt; color: #000000; background: transparent"> <td width="1%" nowrap="nowrap" align="left"><b>J.</b></td> <td width="1%"> </td> <td><b>Fair Value Disclosures of Financial Instruments</b></td> </tr> </table> </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     We used the following methods and assumptions in estimating our fair value disclosures for financial instruments: </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     <i>Cash</i>: The carrying value reported on the balance sheet for cash and cash equivalents approximates its fair value. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     <i>Notes Receivable</i>: The fair values for notes receivable are estimated using discounted cash flow analyses, using market derived discount rates. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     <i>Debt Financing</i>: The fair value of our long-term fixed rate debt is estimated using discounted cash flow analyses, based on our spread to U.S. Treasury bonds for similar debt at year end. The fair value of our long-term floating rate debt is estimated using discounted cash flow analysis based on credit default spreads. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     <i>Derivatives</i>: Fair values were based on the use of a valuation model that utilizes, among other things, current interest, foreign exchange and volatility rates, as applicable. </div>   </div>  <div style="font-family: 'Times New Roman',Times,serif"> <div align="center" style="font-size: 10pt; margin-top: 0pt"> <b> </b> </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     The carrying amounts and fair values of our financial instruments at June 30, 2011 and December 31, 2010, are as follows: </div> <div align="center"> <table style="font-size: 10pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">  <tr valign="bottom"> <td width="52%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="6" style="border-bottom: 1px solid #000000">June 30, 2011</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="6" style="border-bottom: 1px solid #000000">December 31, 2010</td> <td> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2">Carrying Amount </td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2">Fair Value of</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2">Carrying Amount of</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2">Fair Value of</td> <td> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">of Asset (Liability)</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000"> Asset (Liability)</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000"> Asset (Liability)</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000"> Asset (Liability)</td> <td> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="14">(Dollars in thousands)</td> <td> </td> </tr>   <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:15px; text-indent:-15px">Cash, including restricted cash </div></td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">2,559,523 </td> <td nowrap="nowrap">(a)</td> <td> </td> <td align="left">$</td> <td align="right">2,559,523</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left">$</td> <td align="right">3,524,750 </td> <td nowrap="nowrap">(a)</td> <td> </td> <td align="left">$</td> <td align="right">3,524,750</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Notes receivable </div></td> <td> </td> <td> </td> <td align="right">20,628</td> <td> </td> <td> </td> <td> </td> <td align="right">19,548</td> <td> </td> <td> </td> <td> </td> <td align="right">65,065</td> <td> </td> <td> </td> <td> </td> <td align="right">64,622</td> <td> </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:15px; text-indent:-15px">Debt financing (including subordinated debt and foreign currency adjustment) </div></td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(25,647,884</td> <td nowrap="nowrap">)</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(26,750,239</td> <td nowrap="nowrap">)</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(27,719,500</td> <td nowrap="nowrap">)</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(28,267,765 </td> <td nowrap="nowrap">)</td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Derivative assets </div></td> <td> </td> <td> </td> <td align="right">206,904</td> <td> </td> <td> </td> <td> </td> <td align="right">206,904</td> <td> </td> <td> </td> <td> </td> <td align="right">60,150</td> <td> </td> <td> </td> <td> </td> <td align="right">60,150</td> <td> </td> </tr>  </table> </div> <div align="left"> <div style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">  </div> </div> <table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; text-align: left"> <tr> <td width="3%"></td> <td width="1%"></td> <td width="96%"></td> </tr> <tr valign="top"> <td nowrap="nowrap" align="left">(a)</td> <td> </td> <td>Includes restricted cash of $421.0 million (2011) and $457.1 million (2010).</td> </tr> </table> </div>

<div style="font-family: 'Times New Roman',Times,serif"> <div style="margin-top: 6pt"> <table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; text-align: left"> <tr valign="top" style="font-size: 10pt; color: #000000; background: transparent"> <td width="1%" nowrap="nowrap" align="left"><b>K.</b></td> <td width="1%"> </td> <td><b>Security Deposits on Aircraft, Overhaul Rentals and Other Customer Deposits</b></td> </tr> </table> </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     As of June 30, 2011 and 2010, Security deposits, Overhaul rentals and Other customer deposits were comprised of: </div> <div align="center"> <table style="font-size: 10pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">  <tr valign="bottom"> <td width="76%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2">June 30,</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2"> </td> <td> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">2011</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">December 31, 2010</td> <td> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="6">(Dollars in thousands)</td> <td> </td> </tr>   <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:15px; text-indent:-15px">Security deposits paid by lessees </div></td> <td> </td> <td align="left">$</td> <td align="right">901,832</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">945,195</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Overhaul rentals </div></td> <td> </td> <td> </td> <td align="right">607,419</td> <td> </td> <td> </td> <td> </td> <td align="right">555,423</td> <td> </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:15px; text-indent:-15px">Other customer deposits </div></td> <td> </td> <td> </td> <td align="right">172,889</td> <td> </td> <td> </td> <td> </td> <td align="right">120,166</td> <td> </td> </tr> <tr style="font-size: 1px"> <td> <div style="margin-left:15px; text-indent:-15px">  </div></td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 1px solid #000000"> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Total </div></td> <td> </td> <td align="left">$</td> <td align="right">1,682,140</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">1,620,784</td> <td> </td> </tr> <tr style="font-size: 1px"> <td> <div style="margin-left:15px; text-indent:-15px">  </div></td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td> <td> </td> <td> </td> <td nowrap="nowrap" colspan="2" align="right" style="border-top: 3px double #000000"> </td> <td> </td> </tr>  </table> </div> </div>

<div style="font-family: 'Times New Roman',Times,serif"> <div style="margin-top: 6pt"> <table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; text-align: left"> <tr valign="top" style="font-size: 10pt; color: #000000; background: transparent"> <td width="1%" nowrap="nowrap" align="left"><b>L.</b></td> <td width="1%"> </td> <td><b>Related Party Transactions</b></td> </tr> </table> </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     <i>Related Party Allocations and Fees: </i>We are party to cost sharing agreements, including tax, with AIG. Generally, these agreements provide for the allocation of corporate costs based upon a proportional allocation of costs to all subsidiaries. We also pay other subsidiaries of AIG a fee related to management services provided for certain of our foreign subsidiaries and we earn management fees from two trusts consolidated by AIG for the management of aircraft we sold to the trusts in prior years. In March 2010, we paid AIG $85.0 million that was due and payable on a loan related to certain tax planning activities we had participated in during 2002 and 2003. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     <i>Loans from AIG Funding: </i>We borrowed $3.9 billion from AIG Funding, a subsidiary of AIG, in 2009 to assist in funding our liquidity needs. On August 20, 2010, we prepaid in full the principal balance of approximately $3.9 billion plus accrued interest. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     <i>Derivatives and Insurance Premiums: </i>The counterparty of all of our interest rate swap and foreign currency swap agreements as of June 30, 2011 was AIG Markets, Inc., a wholly-owned subsidiary of AIG. See Note I — <i>Fair Value Measurements </i>and Note H — <i>Derivative Activities</i>. In addition, we purchase insurance through a broker who may place part of our policies with AIG. Total insurance premiums were $3.7 million and $3.5 million for the six months ended June 30, 2011 and 2010, respectively. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     Our financial statements include the following amounts involving related parties: </div> <div align="center"> <table style="font-size: 10pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">  <tr valign="bottom"> <td width="52%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="6" style="border-bottom: 0px solid #000000">Three Months Ended</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="6" style="border-bottom: 0px solid #000000">Six Months Ended</td> <td> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td nowrap="nowrap" align="left" style="border-bottom: 0px solid #000000"></td> <td> </td> <td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">June 30, 2011</td> <td style="border-bottom: 1px solid #000000"> </td> <td style="border-bottom: 1px solid #000000"> </td> <td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">June 30, 2010</td> <td style="border-bottom: 1px solid #000000"> </td> <td style="border-bottom: 1px solid #000000"> </td> <td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">June 30, 2011</td> <td style="border-bottom: 1px solid #000000"> </td> <td style="border-bottom: 1px solid #000000"> </td> <td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">June 30, 2010</td> <td> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td align="left">Income Statement</td> <td> </td> <td nowrap="nowrap" align="center" colspan="14">(Dollars in thousands)</td> <td> </td> </tr>   <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:15px; text-indent:-15px">Expense (income): </div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:30px; text-indent:-15px">Interest expense on loans from AIG Funding </div></td> <td> </td> <td align="left">$</td> <td align="right">—</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">62,035</td> <td> </td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">122,545</td> <td> </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:30px; text-indent:-15px">Effect from derivatives on contracts with AIGFP novated to AIG Markets, Inc. </div></td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(1,223</td> <td nowrap="nowrap">)</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(3,410</td> <td nowrap="nowrap">)</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(965</td> <td nowrap="nowrap">)</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(42,421</td> <td nowrap="nowrap">)</td> </tr> <tr valign="bottom"> <td> <div style="margin-left:30px; text-indent:-15px">Interest on derivative contracts with AIGFP novated to AIG Markets, Inc. </div></td> <td> </td> <td> </td> <td align="right">16,270</td> <td> </td> <td> </td> <td> </td> <td align="right">27,145</td> <td> </td> <td> </td> <td> </td> <td align="right">33,836</td> <td> </td> <td> </td> <td> </td> <td align="right">54,204</td> <td> </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:30px; text-indent:-15px">Lease revenue related to hedging of lease receipts with AIGFP </div></td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">—</td> <td> </td> <td> </td> <td> </td> <td align="right">224</td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:30px; text-indent:-15px">Allocation of corporate costs from AIG </div></td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(10,246</td> <td nowrap="nowrap">)</td> <td> </td> <td> </td> <td align="right">1,617</td> <td> </td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(4,140</td> <td nowrap="nowrap">)</td> <td> </td> <td> </td> <td align="right">5,877</td> <td> </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:30px; text-indent:-15px">Management fees received </div></td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(2,305</td> <td nowrap="nowrap">)</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(2,387</td> <td nowrap="nowrap">)</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(4,545</td> <td nowrap="nowrap">)</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(4,685</td> <td nowrap="nowrap">)</td> </tr> <tr valign="bottom"> <td> <div style="margin-left:30px; text-indent:-15px">Management fees paid </div></td> <td> </td> <td> </td> <td align="right">24</td> <td> </td> <td> </td> <td> </td> <td align="right">114</td> <td> </td> <td> </td> <td> </td> <td align="right">52</td> <td> </td> <td> </td> <td> </td> <td align="right">354</td> <td> </td> </tr>  </table> </div> <div align="center"> <table style="font-size: 10pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">  <tr valign="bottom"> <td width="76%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> <td width="5%"> </td> <td width="1%"> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td nowrap="nowrap" align="left" style="border-bottom: 0px solid #000000"></td> <td> </td> <td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000"></td> <td> </td> <td> </td> <td colspan="2" nowrap="nowrap" align="center" style="border-bottom: 0px solid #000000">December 31, </td> <td> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td nowrap="nowrap" align="left" style="border-bottom: 0px solid #000000">Balance Sheet</td> <td> </td> <td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">June 30, 2011</td> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</td> <td> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="6">(Dollars in thousands)</td> <td> </td> </tr>   <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:15px; text-indent:-15px">Asset (liability): </div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:30px; text-indent:-15px">Derivative assets, net </div></td> <td> </td> <td align="left">$</td> <td align="right">206,196</td> <td> </td> <td> </td> <td align="left">$</td> <td align="right">58,187</td> <td> </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:30px; text-indent:-15px">Income taxes payable to AIG (a) </div></td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(142,442 </td> <td nowrap="nowrap">)</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(108,784</td> <td nowrap="nowrap">)</td> </tr> <tr valign="bottom"> <td> <div style="margin-left:30px; text-indent:-15px">Accrued corporate costs payable to AIG </div></td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(21,954</td> <td nowrap="nowrap">)</td> <td> </td> <td nowrap="nowrap" align="left"> </td> <td align="right">(20,753</td> <td nowrap="nowrap">)</td> </tr>  </table> </div> <div align="left"> <div style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">  </div> </div> <table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; text-align: left"> <tr> <td width="3%"></td> <td width="1%"></td> <td width="96%"></td> </tr> <tr valign="top"> <td nowrap="nowrap" align="left">(a)</td> <td> </td> <td>We paid approximately $26 million to AIG during the six months ended June 30, 2011.</td> </tr> </table> </div>

<div style="font-family: 'Times New Roman',Times,serif"> <div style="margin-top: 6pt"> <table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; text-align: left"> <tr valign="top" style="font-size: 10pt; color: #000000; background: transparent"> <td width="1%" nowrap="nowrap" align="left"><b>M.</b></td> <td width="1%"> </td> <td><b>Commitments and Contingencies</b></td> </tr> </table> </div> <div align="left" style="font-size: 10pt; margin-top: 6pt">     <i>Guarantees</i> </div> <div style="margin-top: 6pt"> <table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; text-align: left"> <tr valign="top" style="font-size: 10pt; color: #000000; background: transparent"> <td width="3%" style="background: transparent"> </td> <td width="2%" nowrap="nowrap" align="left"><b>•</b></td> <td width="1%"> </td> <td><i>Asset Value Guarantees: </i>We have guaranteed a portion of the residual value of 20 aircraft to financial institutions and other unrelated third parties for a fee. These guarantees expire at various dates through 2023 and generally obligate us to pay the shortfall between the fair market value and the guaranteed value of the aircraft and provide us with an option to purchase the aircraft for the guaranteed value. At June 30, 2011, the maximum aggregate potential commitment that we were obligated to pay under such guarantees, without any offset for the projected value of the aircraft, was approximately $470 million.</td> </tr> <tr> <td style="font-size: 6pt"> </td> </tr> <tr valign="top" style="font-size: 10pt; color: #000000; background: transparent"> <td width="3%" style="background: transparent"> </td> <td width="2%" nowrap="nowrap" align="left"><b>•</b></td> <td width="1%"> </td> <td><i>Aircraft Loan Guarantees: </i>We guarantee two loans collateralized by aircraft to financial institutions. The guarantees expire in 2014, when the loans mature, and obligate us to pay an amount up to the guaranteed value upon the default of the borrower, which may be offset by a portion of the underlying value of the aircraft collateral. At June 30, 2011, the guaranteed value, without any offset for the projected value of the aircraft, was approximately $20 million<i>.</i></td> </tr> </table> </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     Management regularly reviews the underlying values of the aircraft collateral to determine our exposure under these guarantees. The next strike date for asset value guarantees is in the fourth quarter of 2011. If called upon to perform under these contracts, our maximum exposure is approximately $9 million. We do not currently anticipate that we will be required to perform under any of the guarantees based upon the underlying values of the aircraft collateralized. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt">     <i>Legal Contingencies</i> </div> <div style="margin-top: 6pt"> <table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; text-align: left"> <tr valign="top" style="font-size: 10pt; color: #000000; background: transparent"> <td width="3%" style="background: transparent"> </td> <td width="2%" nowrap="nowrap" align="left"><b>•</b></td> <td width="1%"> </td> <td><i>Flash Airlines, Yemen Airways-Yemenia and Airblue Limited: </i>We are named in lawsuits in connection with the 2004 crash of our Boeing 737-300 aircraft on lease to Flash Airlines, an Egyptian carrier; the 2009 crash of our Airbus A310-300 aircraft on lease to Yemen Airways-Yemenia, a Yemeni carrier; and the 2010 crash of our Airbus A320-200 aircraft on lease to Airblue Limited, a Pakistani carrier. These lawsuits were filed by the families of victims on the flights and seek unspecified damages for wrongful death, costs, and fees. The Flash Airlines litigation originally commenced in May 2004 in California, but all U.S. proceedings were dismissed in favor of proceedings in France where claims are pending before the Tribunal de Grande Instance civil courts in Bobigny and Paris. As of August 5, 2011, the parties are engaged in settlement negotiations. We believe that we have substantial defenses to this action and available liability insurance is adequate to cover our defense costs and any potential liability. The Yemen Airways litigation and the Airblue Limited litigation were filed in January 2011 and March 2011, respectively, in California Superior Court in Los Angeles County. We have been served with the complaints, and each litigation is in its incipient stage. While the plaintiffs have not specified any amount of damages, we believe that we are adequately covered by available liability insurance for both lawsuits and that we have substantial defenses to these actions. We do not believe that the outcome of any of these lawsuits will have a material effect on our consolidated financial condition, results of operations or cash flows.</td> </tr> </table> </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     We are also a party to various claims and litigation matters arising in the ordinary course of our business. We do not believe the outcome of any of these matters will be material to our consolidated financial position, results of operations or cash flows. </div> </div>

<div style="font-family: 'Times New Roman',Times,serif"> <div style="margin-top: 6pt"> <table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; text-align: left"> <tr valign="top" style="font-size: 10pt; color: #000000; background: transparent"> <td width="1%" nowrap="nowrap" align="left"><b>N.</b></td> <td width="1%"> </td> <td><b>Variable Interest Entities</b></td> </tr> </table> </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     Our leasing and financing activities require us to use many forms of entities to achieve our business objectives and we have participated to varying degrees in the design and formation of these entities. Our involvement in VIEs varies and includes being a passive investor in the VIE with involvement from other parties, managing and structuring all activities of the VIE, and being the sole shareholder of the VIE. See Note G — <i>Debt Financings </i>for more information on entities created for the purpose of obtaining financing. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt">     <i>Investment Activities</i> </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     We have variable interests in ten entities to which we previously sold aircraft. The interests include debt financings, preferential equity interests and, in some cases, providing guarantees to banks which had provided the secured senior financings to the entities. Each entity owns one aircraft. The individual financing agreements are cross-collateralized by the aircraft. Because we do not control the activities which significantly impact the economic performance of the entities, we do not consolidate the entities into our condensed, consolidated financial statements. We have a credit facility with these entities to provide financing up to approximately $13.5 million, of which approximately $7.6 million was borrowed at June 30, 2011. The maximum exposure to loss for these entities is approximately $19 million, which is the combined net carrying value of this investment and maximum borrowings available under the credit facility at June 30, 2011. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt">     <i>Non-Recourse Financing Structures</i> </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     We continue to consolidate one entity in which ILFC has a variable interest that was established to obtain secured financing for the purchase of an aircraft. ILFC provided $39.0 million of subordinated financing to the entity and the entity borrowed $106.0 million from third parties, $82.0 million of which is non-recourse to ILFC. The entity owns one aircraft with a net book value of $134.7 million at June 30, 2011. We have determined that we are the primary beneficiary of this entity because we control and manage all aspects of this entity, including directing the activities that most significantly affect the entity’s economic performance, and we absorb the majority of the risks and rewards of this entity. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     We also consolidate a wholly-owned subsidiary we created for the purpose of obtaining secured financing for an aircraft. The entity meets the definition of a VIE because it does not have sufficient equity to operate without ILFC’s subordinated financial support in the form of intercompany notes, which serve as equity even though they are legally debt instruments. This entity borrowed $55.4 million from a third party. The loan is non-recourse to ILFC and is secured by the aircraft and the lease receivables. The entity owns one aircraft with a net book value of $89.8 million at June 30, 2011. We have determined that we are the primary beneficiary of this entity because we control and manage all aspects of this entity, including directing the activities that most significantly affect the entity’s economic performance, and we absorb the majority of the risks and rewards of this entity. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt">     <i>Wholly-Owned ECA Financing Vehicles</i> </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     We have created certain wholly-owned subsidiaries for the purpose of purchasing aircraft and obtaining financing secured by such aircraft. The secured debt is guaranteed by the European ECAs. The entities meet the definition of a VIE because they do not have sufficient equity to operate without ILFC’s subordinated financial support in the form of intercompany notes, which serve as equity even though they are legally debt instruments. We control and manage all aspects of these entities, including directing the activities that most significantly affect the entity’s economic performance, we absorb the majority of the risks and rewards of these entities and we guarantee the activities of these entities. These entities are therefore consolidated into our condensed, consolidated financial statements. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt">     <i>Other Secured Financings</i> </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     We have created a number of wholly-owned subsidiaries for the purpose of obtaining secured financings. The entities meet the definition of a VIE because they do not have sufficient equity to operate without ILFC’s subordinated financial support in the form of intercompany notes, which serve as equity even though they are legally debt instruments. One of the entities borrowed $550 million from third parties and a portfolio of 37 aircraft will be transferred from ILFC to the subsidiaries of the entity to secure the loan. We control and manage all aspects of these entities, including directing the activities that most significantly affect the entity’s economic performance, we absorb the majority of the risks and rewards of these entities and we guarantee the activities of these entities. These entities are therefore consolidated into our condensed, consolidated financial statements. See Note G — <i>Debt Financings </i>for more information on these financings. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt">     <i>Wholly-Owned Leasing Entities</i> </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     We have created wholly-owned subsidiaries for the purpose of facilitating aircraft leases with airlines. The entities meet the definition of a VIE because they do not have sufficient equity to operate without ILFC’s subordinated financial support in the form of intercompany loans, which serve as equity even though they are legally debt instruments. We control and manage all aspects of these entities, including directing the activities that most significantly affect the entity’s economic performance, we absorb the majority of the risks and rewards of these entities and we guarantee the activities of these entities. These entities are therefore consolidated into our condensed, consolidated financial statements. </div> </div>

<div style="font-family: 'Times New Roman',Times,serif"> <div style="margin-top: 6pt"> <table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; text-align: left"> <tr valign="top" style="font-size: 10pt; color: #000000; background: transparent"> <td width="1%" nowrap="nowrap" align="left"><b>O.</b></td> <td width="1%"> </td> <td><b>Other Expenses</b></td> </tr> </table> </div> <div align="left" style="font-size: 10pt; margin-top: 6pt">     <i>Three Months Ended June 30, 2011 and 2010</i> </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     For the three month periods ended June 30, 2011 and 2010, Other expenses consist primarily of lease charges related to aircraft reclassified to or from Flight equipment held for sale. </div> <div style="margin-top: 6pt"> <table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; text-align: left"> <tr valign="top" style="font-size: 10pt; color: #000000; background: transparent"> <td width="1%" nowrap="nowrap" align="left"> </td> <td width="1%"> </td> <td><i>Six Months Ended June 30, 2011 and 2010</i></td> </tr> </table> </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     For the six months ended June 30, 2011, we recognized a $20 million expense related to the cancellation of an aircraft engine order. We eliminated the economic effect of the $20 million expense by negotiating with our manufacturer vendors to recover these costs. The recovery will be in two payments. One of these payments is related to a 2007 agreement with one manufacturer for us to extend our evaluation period of aircraft under order until at least 2010. This payment is contingent upon our cancelling of the aircraft order and is not contingent on placing any new order with the manufacturer. As a result of the cancellation of such aircraft order in March 2011, we recorded the related payment receivable of $10 million in Interest and other in the Condensed, Consolidated Statement of Income for the six months ended June 30, 2011. The second payment of $10 million is related to an agreement with another manufacturer, which among other contractual terms, includes a provision to reimburse us for the remaining costs associated with the March 2011 order cancellation. The reimbursement payment will be recognized as a reduction of the cost basis of future aircraft deliveries, as we determined the payment to be connected with the purchase of such aircraft. In addition to this charge, for the six months ended June 30, 2011, Other expenses include $12.2 million resulting from the write down of two notes receivable, partially offset by approximately $2.5 million aggregate lease related income, net of lease charges. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     For the six months ended June 30, 2010, Other expenses consist of lease related costs we expensed as a result of agreements with third parties to sell aircraft subject to operating leases. </div> </div>

<div style="font-family: 'Times New Roman',Times,serif"> <div style="margin-top: 6pt"> <table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; text-align: left"> <tr valign="top" style="font-size: 10pt; color: #000000; background: transparent"> <td width="1%" nowrap="nowrap" align="left"><b>P.</b></td> <td width="1%"> </td> <td><b>Subsequent Event</b></td> </tr> </table> </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     On August 2, 2011, we entered into a stock purchase agreement with AerCap, Inc. (“AerCap”) and AerCap Holdings N.V. to acquire all of the issued and outstanding shares of capital stock of AeroTurbine, Inc., a wholly-owned direct subsidiary of AerCap (“AeroTurbine”), for an aggregate cash purchase price of $228 million. In connection with the acquisition, we have also agreed to guarantee AeroTurbine’s $425 million secured revolving credit facility. There was approximately $298.6 million outstanding under this facility as of July 31, 2011. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">     The closing of this acquisition is currently expected to occur during 2011 and is subject to the satisfaction of several customary closing conditions, including applicable antitrust approvals. </div> </div>

36799000 2165077000 5220000 3225000 3050000 78673000 76438000 13103000 29177000 50905000 2235000 11193000 192161000

22309000

47977000

19901000

42977000

-40172000

-13485000

-10965000

-4805000

66000

79000

114000

100000

500

Approximately $26 million was paid to AIG for ILFC tax liability.

EX-101.SCH 7 ilfc-20110630.xsd EX-101 SCHEMA DOCUMENT 0217 - Disclosure - Out of Period Adjustments link:presentationLink link:calculationLink link:definitionLink 00 - Document - Document and Entity Information link:presentationLink link:definitionLink link:calculationLink 0110 - Statement - Condensed Consolidated Balance Sheets (Unaudited) link:presentationLink link:definitionLink link:calculationLink 0111 - Statement - Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) link:presentationLink link:definitionLink link:calculationLink 0120 - Statement - Condensed Consolidated Statements of Income (Unaudited) link:presentationLink link:definitionLink link:calculationLink 0130 - Statement - Condensed Consolidated Statements of Comprehensive Income (Unaudited) link:presentationLink link:definitionLink link:calculationLink 0131 - Statement - Condensed Consolidated Statements of Comprehensive Income (Unaudited) (Parenthetical) link:presentationLink link:definitionLink link:calculationLink 0140 - Statement - Condensed Consolidated Statements of Cash Flows (Unaudited) link:presentationLink link:definitionLink link:calculationLink 0141 - Statement - Condensed Consolidated Statements of Cash Flows (Parenthetical) link:presentationLink link:definitionLink link:calculationLink 0201 - Disclosure - Basis of Preparation link:presentationLink link:definitionLink link:calculationLink 0202 - Disclosure - Recent Accounting Pronouncements link:presentationLink link:definitionLink link:calculationLink 0203 - Disclosure - Restricted Cash link:presentationLink link:definitionLink link:calculationLink 0204 - Disclosure - Allowance for Credit Losses link:presentationLink link:definitionLink link:calculationLink 0205 - Disclosure - Aircraft Impairment Charges and Fair Value Adjustments on Flight Equipment Sold or to be Disposed of link:presentationLink link:definitionLink link:calculationLink 0206 - Disclosure - Flight Equipment Held for Sale link:presentationLink link:definitionLink link:calculationLink 0207 - Disclosure - Debt Financings link:presentationLink link:definitionLink link:calculationLink 0208 - Disclosure - Derivative Activities link:presentationLink link:definitionLink link:calculationLink 0209 - Disclosure - Fair Value Measurements link:presentationLink link:definitionLink link:calculationLink 0210 - Disclosure - Fair Value Disclosures of Financial Instruments link:presentationLink link:definitionLink link:calculationLink 0211 - Disclosure - Security Deposits on Aircraft, Overhaul Rentals and Other Customer Deposits link:presentationLink link:definitionLink link:calculationLink 0212 - Disclosure - Related Party Transactions link:presentationLink link:definitionLink link:calculationLink 0213 - Disclosure - Commitments and Contingencies link:presentationLink link:definitionLink link:calculationLink 0214 - Disclosure - Variable Interest Entities link:presentationLink link:definitionLink link:calculationLink 0215 - Disclosure - Other Expenses link:presentationLink link:definitionLink link:calculationLink 0216 - Disclosure - Subsequent Events link:presentationLink link:definitionLink link:calculationLink EX-101.CAL 8 ilfc-20110630_cal.xml EX-101 CALCULATION LINKBASE DOCUMENT EX-101.LAB 9 ilfc-20110630_lab.xml EX-101 LABELS LINKBASE DOCUMENT Document and Entity Information [Abstract] ASSETS Assets [Abstract] Cash and Cash Equivalents, at Carrying Value Cash at end of period Cash at beginning of period Cash and cash equivalents, including interest bearing accounts of $2,126,626 (2011) and $3,058,747 (2010) Interest bearing accounts of cash and cash equivalents Interest bearing accounts of cash and cash equivalents Restricted Cash and Cash Equivalents Restricted cash, including interest bearing accounts of $421,040 (2011) and $402,373 (2010) Interest bearing accounts of restricted cash Interest bearing accounts of restricted cash Interest bearing accounts of restricted cash Notes Receivable Net Of Allowance And Net Investment In Finance And Sales Type Leases Notes receivable, net of allowance, and net investment in finance and sales-type leases Notes receivable, net of allowance, and net investment in finance and sales-type leases Flight equipment under operating leases Property Subject to or Available for Operating Lease, Gross Less accumulated depreciation Property Subject to or Available for Operating Lease, Accumulated Depreciation Total assets Property Subject to or Available for Operating Lease, Net Flight equipment under operating leases, net Flight Equipment Held For Sale Flight equipment held for sale Flight equipment held for sale Deposits on flight equipment purchases Deposit Assets Lease Receivables And Other Assets Lease receivables and other assets Lease receivables and other assets Derivative assets, net Derivative Assets Deferred Finance Costs, Net Deferred debt issue costs, less accumulated amortization of $217,078 (2011) and $181,460 (2010) Accumulated amortization Accumulated amortization Total assets Assets Total assets LIABILITIES AND SHAREHOLDERS' EQUITY Liabilities and Equity [Abstract] Accrued interest and other payables Accounts Payable and Accrued Liabilities Current income taxes Taxes Payable, Current Secured debt financing, net of deferred debt discount of $19,901 (2011) and $22,309 (2010) Secured Debt Secured debt financing, net of deferred debt discount Secured debt financing, net of deferred debt discount Unsecured Debt Unsecured debt financing, net of deferred debt discount of $42,977 (2011) and $47,977 (2010) Subordinated debt Subordinated Debt Foreign Currency Adjustment Related To Foreign Currency Denominated Debt Foreign currency adjustment related to foreign currency denominated debt Foreign currency adjustment related to foreign currency denominated debt Security deposits, overhaul rental and other customer deposits Security Deposit Liability Rentals received in advance Advance Rent Deferred income taxes Deferred Income Tax Liabilities Commitments and Contingencies - Note M Commitments and Contingencies SHAREHOLDERS' EQUITY Stockholders' Equity Attributable to Parent [Abstract] Market Auction Preferred Stock, $100,000 per share liquidation value; Series A and B, each having 500 shares issued and outstanding Preferred Stock, Value, Issued Preferred stock, shares issued Preferred stock, shares issued Preferred stock, shares outstanding Preferred stock, shares outstanding Common stock - no par value; 100,000,000 authorized shares, 45,267,723 issued and outstanding Common Stock, Value, Issued Common stock, par value Common stock, par value Common stock, shares authorized Common stock, shares authorized Common stock, shares issued Common Stock, Shares Issued Common stock, shares outstanding Common Stock, Shares Outstanding Paid-in capital Additional Paid in Capital Accumulated other comprehensive income (loss) Accumulated Other Comprehensive Income (Loss), Net of Tax Retained earnings Retained Earnings (Accumulated Deficit) Total shareholders' equity Stockholders' Equity Attributable to Parent, Total Total shareholders' equity Total shareholders' equity Liabilities and Equity Total liabilities shareholders' equity REVENUES AND OTHER INCOME Revenues [Abstract] Rental of flight equipment Operating Leases, Income Statement, Lease Revenue Flight Equipment Marketing And Gain On Aircraft Sales Flight equipment marketing and gain on aircraft sales Flight equipment marketing and gain on aircraft sales Interest And Other Interest and other Interest and other Revenues Total revenues and other income Total revenues and other income EXPENSES Operating Expenses [Abstract] Interest Interest Expense Derivative, Gain (Loss) on Derivative, Net Effect from derivatives, net of change in hedged items due to changes in foreign exchange rates Effect from derivatives, net of change in hedged items due to changes in foreign exchange rates Depreciation of flight equipment Operating Leases, Income Statement, Depreciation Expense on Property Subject to or Held-for-lease Aircraft impairment charges and fair value adjustments Impairment of Long-Lived Assets to be Disposed of Aircraft impairment charges and fair value adjustments on flight equipment sold or to be disposed Aircraft Impairment Charges On Flight Equipment Held For Use Aircraft impairment charges on flight equipment held for use Aircraft impairment charges on flight equipment held for use Aircraft impairment charges on flight equipment held for use Flight equipment rent Sale Leaseback Transaction, Rent Expense Selling, general and administrative Selling, General and Administrative Expense Other expenses Other Noninterest Expense Total expenses Operating Expenses Total expenses Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest INCOME BEFORE INCOME TAXES INCOME (LOSS) BEFORE INCOME TAXES Income Tax Expense (Benefit) Provision for income taxes Net Income (Loss) Attributable to Parent Net income NET INCOME NET INCOME Other Comprehensive Income (Loss), Net of Tax [Abstract] OTHER COMPREHENSIVE INCOME Net changes in fair value of cash flow hedges, net of taxes of $(4,805) (2011) and $(13,485) (2010) for three months ended and $(10,695) (2011) and $(40,172) (2010) for six months ended Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax Taxes on changes in fair value of cash flow hedges Taxes on changes in fair value of cash flow hedges Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax Change in unrealized appreciation on securities available for sale, net of taxes of $114 (2011) and $79 (2010) for three months ended and $114 (2011) and $66 (2010) for six months ended Taxes on securities available for sale Taxes on securities available for sale Other Comprehensive Income (Loss), Net of Tax Total other comprehensive income Total other comprehensive income (loss), net of tax Comprehensive Income (Loss), Net of Tax, Attributable to Parent COMPREHENSIVE INCOME COMPREHENSIVE INCOME (LOSS) OPERATING ACTIVITIES Net Cash Provided by (Used in) Operating Activities [Abstract] Adjustments to reconcile net income to net cash provided by operating activities: Adjustments, Noncash Items, to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities [Abstract] Deferred income taxes Deferred Income Tax Expense (Benefit) Derivative instruments Unrealized Gain (Loss) on Derivatives Derivative instruments Foreign Currency Adjustment Of Non U S Currency Denominated Debt Foreign currency adjustment of non-US$ denominated debt Foreign currency adjustment of non-US$ denominated debt Foreign currency adjustment of non-US$ denominated debt Amortization of deferred debt issue costs Amortization of Financing Costs Amortization of debt discount Amortization of Debt Discount (Premium) Amortization of prepaid lease costs Amortization Lease Expenses Related To Aircraft Sales Lease expenses related to aircraft sales Lease expenses related to aircraft sales Interest paid-in-kind to AIG Funding Paid-in-Kind Interest Other Noncash Income (Expense) Other, including foreign exchange adjustments on foreign currency denominated cash and gain on aircraft sales Other, including foreign exchange adjustments on foreign currency denominated cash and gain on aircraft sales Changes in operating assets and liabilities: Increase (Decrease) in Operating Capital [Abstract] Decrease Increase In Lease Receivables And Other Assets Lease receivables and other assets Lease receivables and other assets Lease receivables and other assets Accrued interest and other payables Increase (Decrease) in Accounts Payable and Accrued Liabilities Current income taxes Increase (Decrease) in Income Taxes Payable Rentals received in advance Increase (Decrease) in Deferred Revenue Net cash provided by operating activities Net Cash Provided by (Used in) Operating Activities Net cash provided by operating activities INVESTING ACTIVITIES Net Cash Provided by (Used in) Investing Activities [Abstract] Acquisition of flight equipment Payments to Acquire Other Productive Assets Acquisition of flight equipment Proceeds from disposal of flight equipment Proceeds from Sale of Property, Plant, and Equipment Restricted cash Increase (Decrease) in Restricted Cash Restricted cash Collections on notes receivable and finance and sales-type leases Proceeds from Principal Repayments on Loans and Leases Held-for-investment Other Payments for (Proceeds from) Other Investing Activities Other Net cash provided by (used in) investing activities Net Cash Provided by (Used in) Investing Activities Net cash provided by (used in) investing activities FINANCING ACTIVITIES Net Cash Provided by (Used in) Financing Activities [Abstract] Proceeds from debt financing Proceeds from Issuance of Debt Payments in reduction of debt financing Proceeds from (Repayments of) Debt Debt issue costs Payments of Debt Issuance Costs Debt issue costs Payment of common and preferred dividends Payments of Dividends Payment of common and preferred dividends Security And Rental Deposits Received Security and rental deposits received Security and rental deposits received Security and rental deposits received Security And Rental Deposits Returned Security and rental deposits returned Security and rental deposits returned Security and rental deposits returned Transfers Of Security And Rental Deposits On Sales Of Aircraft Transfers of security and rental deposits on sales of aircraft Transfers of security and rental deposits on sales of aircraft Transfers of security and rental deposits on sales of aircraft Overhaul Rentals Collected Overhaul rentals collected Overhaul rentals collected Overhaul rentals collected Overhaul Deposits Reimbursed Overhaul deposits reimbursed Overhaul deposits reimbursed Overhaul deposits reimbursed Transfer Of Overhauls Rentals On Sales Of Aircraft Transfer of overhauls rentals on sales of aircraft Transfer of overhauls rentals on sales of aircraft Transfer of overhauls rentals on sales of aircraft Net change in other deposits Increase (Decrease) in Other Deposits Net cash (used in) provided by financing activities Net Cash Provided by (Used in) Financing Activities Net cash (used in) provided by financing activities Net (decrease) increase in cash Cash and Cash Equivalents, Period Increase (Decrease) Net (decrease) increase in cash Effect of exchange rate changes on cash Effect of Exchange Rate on Cash and Cash Equivalents SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION Supplemental Cash Flow Information [Abstract] Cash Paid During Period For Abstract Cash paid during the period for: Interest Paid, Net Interest, excluding interest capitalized of $2,790 (2011) and $3,080 (2010) Interest capitalized Interest capitalized Tax Liability Paid Tax liability paid to AIG Paid to AIG Income taxes, net Income Taxes Paid, Net Basis of Preparation Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] Basis of Preparation [Abstract] Basis of Preparation [Abstract] New Accounting Pronouncements [Text Block] Recent Accounting Pronouncements Recent Accounting Pronouncements Recent Accounting Pronouncements [Abstract] Recent Accounting Pronouncements [Abstract] Restricted Cash [Text Block] Restricted Cash Restricted Cash Restricted Cash [Abstract] Restricted Cash [Abstract] Allowance for Credit Losses Allowance for Credit Losses [Text Block] Allowance for Credit Losses [Abstract] Allowance for Credit Losses [Abstract] Aircraft Impairment Charges And Fair Value Adjustments On Flight Equipment Sold Or To Be Disposed Of [Text Block] Aircraft Impairment Charges and Fair Value Adjustments on Flight Equipment Sold or to be Disposed of Aircraft Impairment Charges and Fair Value Adjustments on Flight Equipment Sold or to be Disposed of Aircraft Impairment Charges and Fair Value Adjustments on Flight Equipment Sold or to be Disposed of [Abstract] Aircraft Impairment Charges and Fair Value Adjustments on Flight Equipment Sold or to be Disposed of [Abstract] Flight Equipment Held For Sale [Text Block] Flight Equipment Held for Sale Flight Equipment Held for Sale Flight Equipment Held for Sale [Abstract] Flight Equipment Held for Sale [Abstract] Debt Financings Debt Disclosure [Text Block] Debt Financings [Abstract] Debt Financings [Abstract] Derivative Activities Derivative Instruments and Hedging Activities Disclosure [Text Block] Derivative Activities [Abstract] Derivative Activities [Abstract] Fair Value Measurements Derivatives and Fair Value [Text Block] Fair Value Disclosure of Financial Instruments and Measurements [Abstract] Fair Value Disclosure of Financial Instruments and Measurements [Abstract] Fair Value Disclosures of Financial Instruments Fair Value Disclosures [Text Block] Security Deposits On Aircraft Overhaul Rentals And Other Customer Deposits [Text Block] Security Deposits on Aircraft, Overhaul Rentals and Other Customer Deposits Security Deposits on Aircraft, Overhaul Rentals and Other Customer Deposits Security Deposits on Aircraft, Overhaul Rentals and Other Customer Deposits [Abstract] Security Deposits on Aircraft, Overhaul Rentals and Other Customer Deposits [Abstract] Related Party Transactions Related Party Transactions Disclosure [Text Block] Related Party Transactions [Abstract] Related Party Transactions [Abstract] Commitments and Contingencies Commitments and Contingencies Disclosure [Text Block] Commitments and Contingencies [Abstract] Commitments and Contingencies [Abstract] Variable Interest Entities [Text Block] Variable Interest Entities Variable Interest Entities Variable Interest Entities [Abstract] Variable Interest Entities [Abstract] Other Expenses Other Liabilities Disclosure [Text Block] Other Expenses [Abstract] Other Expenses [Abstract] Subsequent Events Subsequent Events [Text Block] Subsequent Events [Abstract] Subsequent Events [Abstract] Amendment Flag Current Fiscal Year End Date Document Period End Date Document Type Entity Central Index Key Entity Common Stock, Shares Outstanding Entity Current Reporting Status Entity Filer Category Entity Registrant Name Entity Voluntary Filers Entity Well-known Seasoned Issuer Entity Public Float Document Fiscal Period Focus Document Fiscal Year Focus Condensed Consolidated Balance Sheets [Abstract] Condensed Consolidated Statements of Income [Abstract] Condensed Consolidated Statements of Comprehensive Income [Abstract] Statement of Cash Flows [Abstract] Statement [Table] Long-term Debt, Type [Axis] Unsecured Debt [Member] Class of Stock [Axis] Series A Preferred Stock [Member] Series A Series B Preferred Stock [Member] Series B Statement [Line Items] Long-term Debt, Type [Domain] Class of Stock [Domain] Preferred Stock, Liquidation Preference Per Share Preferred stock, liquidation value per share Cash Flow, Noncash Investing and Financing Activities Disclosure [Abstract] Non cash investing and financing activities Asset Held For Sale Reclassified To Flight Equipment Under Operating Leases Asset held for sale reclassified to flight equipment under operating leases Asset held for sale reclassified to flight equipment under operating leases. Amount Recognized To Flight Equipment Under Operating Leases Reclassified From Asset Held For Sale Amount recognized to flight equipment under operating leases reclassified from asset held for sale Amount recognized to flight equipment under operating leases reclassified from asset held for sale. Income Realized For Aircraft That No Longer Meet Definition Of Held For Sale Income realized for aircraft that no longer meet the definition of held for sale Income realized for aircraft that no longer meet definition of held for sale. Deposits On Flight Equipment Purchases Applied To Acquisition Of Flight Equipment Under Operating Leases Deposits on flight equipment purchases applied to acquisition of flight equipment under operating leases Deposits on flight equipment purchases applied to acquisition of flight equipment under operating leases. Customer Security Deposits Were Forfeited And Recognized In Income Customer security deposits were forfeited and recognized in income Customer security deposits were forfeited and recognized in income. Additional Deposits On Flight Equipment Purchases Applied To Acquisition Of Flight Equipment Under Operating Leases Additional deposits on flight equipment purchases applied to acquisition of flight equipment under operating leases Additional deposits on Flight Equipment Purchases Applied To Acquisition Of Flight Equipment Under Operating Leases. Net Investment In Finance Leases Transferred To Flight Equipment Under Operating Leases Net investment in finance leases transferred to flight equipment under operating leases Net investment in finance leases transferred to flight equipment under operating leases. Lease Receivables And Other Assets Applied To Acquisition Of Flight Equipment Under Operating Leases Lease receivables and other assets applied to acquisition of flight equipment under operating leases Lease receivables and other assets applied ao acquisition of flight equipment under operating leases. Amount Of Flight Equipment Under Operating Leases Transferred To Lease Receivables And Other Assets Amount of flight equipment under operating leases transferred to lease receivables and other assets Amount of flight equipment under operating leases transferred to lease receivables and other assets. Amount Of Flight Equipment Under Operating Leases Transferred To Other Assets Upon Part Out Of Aircraft Amount of flight equipment under operating leases transferred to other assets upon part-out of aircraft Amount of flight equipment under operating leases transferred to other assets upon part out of aircraft. Out of Period Adjustments [Abstract] Out Of Period Adjustments. Out Of Period Adjustments Text Block Out Of Period Adjustments. Out of Period Adjustments Gains (Losses) on Extinguishment of Debt Loss on extinguishment of debt Gains (Losses) on Extinguishment of Debt, Total Loss on extinguishment of debt Amount Of Flight Equipment Under Operating Leases Transferred To Flight Equipment held for sale Amount of Flight equipment under operating leases was transferred to flight equipment held for sale Amount Of Flight Equipment Under Operating Leases Transferred To Flight Equipment held for sale. Tax Benefit Sharing Payable To Parent Company Tax benefit sharing payable to AIG Tax Benefit Sharing Payable To Parent Company. Payments for Other Deposits Payments for deposits and progress payments Aircraft Impairment Charges And Fair Value Adjustments Aircraft impairment charges and fair value adjustments Aircraft Impairment Charges And Fair Value Adjustments. EX-101.PRE 10 ilfc-20110630_pre.xml EX-101 PRESENTATION LINKBASE DOCUMENT EX-101.DEF 11 ilfc-20110630_def.xml EX-101 DEFINITION LINKBASE DOCUMENT XML 12 R3.htm IDEA: XBRL DOCUMENT

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) (USD $) In Thousands, except Share data	Jun. 30, 2011	Dec. 31, 2010
ASSETS
Interest bearing accounts of cash and cash equivalents	$ 2,126,626	$ 3,058,747
Interest bearing accounts of restricted cash	421,040	402,373
Accumulated amortization	217,078	181,460
LIABILITIES AND SHAREHOLDERS' EQUITY
Secured debt financing, net of deferred debt discount	19,901	22,309
SHAREHOLDERS' EQUITY
Preferred stock, liquidation value per share	$ 100,000	$ 100,000
Preferred stock, shares issued	500	500
Preferred stock, shares outstanding	500	500
Common stock, par value	$ 0	$ 0
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	45,267,723	45,267,723
Common stock, shares outstanding	45,267,723	45,267,723
Unsecured Debt [Member]
LIABILITIES AND SHAREHOLDERS' EQUITY
Secured debt financing, net of deferred debt discount	$ 42,977	$ 47,977
Series A
SHAREHOLDERS' EQUITY
Preferred stock, shares issued	500	500
Preferred stock, shares outstanding	500	500
Series B
SHAREHOLDERS' EQUITY
Preferred stock, shares issued	500	500
Preferred stock, shares outstanding	500	500

XML 13 R4.htm IDEA: XBRL DOCUMENT

Condensed Consolidated Statements of Income (Unaudited) (USD $) In Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2011	Jun. 30, 2010	Jun. 30, 2011	Jun. 30, 2010
REVENUES AND OTHER INCOME
Rental of flight equipment	$ 1,111,453	$ 1,163,811	$ 2,252,374	$ 2,393,674
Flight equipment marketing and gain on aircraft sales	2,176	42	2,849	1,326
Interest and other	11,903	8,791	38,822	21,777
Total revenues and other income	1,125,532	1,172,644	2,294,045	2,416,777
EXPENSES
Interest	407,069	407,708	814,568	742,574
Effect from derivatives, net of change in hedged items due to changes in foreign exchange rates	1,468	4,783	2,091	44,849
Depreciation of flight equipment	459,689	475,658	912,220	965,899
Aircraft impairment charges and fair value adjustments on flight equipment sold or to be disposed	43,815	53,027	147,125	406,414
Aircraft impairment charges on flight equipment held for use		8,148		8,148
Loss on extinguishment of debt	61,093		61,093
Flight equipment rent	4,500	4,500	9,000	9,000
Selling, general and administrative	43,089	40,993	94,803	76,630
Other expenses	(1,248)	3,469	29,726	87,517
Total expenses	1,019,475	998,286	2,070,626	2,341,031
INCOME BEFORE INCOME TAXES	106,057	174,358	223,419	75,746
Provision for income taxes	33,377	63,605	77,018	27,919
NET INCOME	$ 72,680	$ 110,753	$ 146,401	$ 47,827

ZIP 14 0000950123-11-076171-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0000950123-11-076171-xbrl.zip M4$L#!!0````(`)R#"S\NW(N^M94``,>T!0`1`!P`:6QF8RTR,#$Q,#8S,"YX M;6Q55`D``X<[1$Z'.T1.=7@+``$$)0X```0Y`0``[%U;=]LXDG[?<_8_<#0[ M,[OG1!;O%[>3.;(L=[3M2&[+Z>\(C"R`W\]QWI3.P(R)\%CNLOWG.9J[; M^>>'__R/B[]TN\(OEW?;)#K\*@V#]$KJ+92S\]^!_ MA(<7X>Y.N`I\'WD>>A&ZW8S(I1U!WG_=Z M3T]/9_CQ61`N>K(H*CW7CV+;GZ%.4O+<<_VO1XKCUP_`+RO^O%?^22&E)N1M5M3UYK-M2?S'V2Q8`55)ZHIZ5Q&WY:)`E27C&.:D1%8!Q+JP[?6VPMR. M'DCA]$7*0^HJTA8VT'-/D`I^Z^PJY`OKO>1E5M1!5+D(S+!_I5$"ZP6,\C\NH.S04BYO/X98W>=R)WM?8P;O)L M&:+Y^PX6=A>S%G5%/'N.G([02PAA]1D$?HR>8V&*9C%H;:(\\&Z6/G>=]YU+ MV\/L^]%D_D41_W?C8VI?IBAT4?3E\LLML$%AB)POTSB8??WR":T>4)B`!4K( MC]WX)?T+_G8=_&3NHE`@C4`%"63R&HQ^Z'P0X9\AJ8HD7?1VU7:D(K18P=/M M`WB4=,EY[[LR-$RR"XT*Y9%2F:G$^C6'0X=H#SXZ@901[_]F-.A^V14@+ M+[?M(T42BA>]4D8[:+TBMHM>00P7:R`=.#FAD"Z./^P&Q$4O>Y91R-6YZ*7] M6=(5F0%+\0\+&?0)'BRCH>^`F7@[G0C-">,KF$+3;E1A M?0<#>?MT6Q#Y3JY8TMO9,T[2^/9=7I"&6$T:8C-I3-WGWX=F2.UKQ@%9O#V] MJ"*+AGI18A-%ZYL+8F<318N_?_OM.[I@\T^>T_[2[7[VW6TL*@M%;?`SW.;/ MTZOA[73;2,=]!(`[YKC<>+/"T=1@YU;!BQ6R(_#%/J21PW.@<]'+'N[K@5)(:K!4T)QVV`VNU(JT-P]$@=% MD:>`XX-#CZP.]^*#\.XJF&W(NY$_#\*5G>\S![GG0Z(J=VCA1G$(&C"V5TA( M._P.1R8/V^[1^'YX-^[?CR;C_HUP,^Q/A\+U:-P?#X;"8')W>]$[Q(!F/P"` MH>V-@,/S#^BE(O_\(#A(:\=JL(%UL1]?N]',]GY%=CA,;%9%;MW,%!RC13?L M9^1Y/_C!DS^%W@M\Y(RB:`/CNQK+7['F,(G1/'\*O(T/5OOEVO50&%7D-0[R MK"@:>_V5-/\.K8,P=OT%CD]LJG*B6E5.B^9(<`Q`PHL@K*H?8]!T>S9#7KIU M0VCD61>([CAF0P8O&"NR`D/Z8T(Y7WE'L@^/'/SXVK,7%6G.;2]""=%"]7V@ MM\18GZ;.>4?F(*U]5HG&)X6NX5G53O]1+K+9HW.(%1YGLZ7*P M6@4^"908DK,%>1&TBR4O@-4$J&J&J"DU`.)M M85K4_=DL@,D9V!=I<)3B*6QY`JTH35%6#*4)T'$0H^@.S1!(^\%#8Q1/YGW/ M"YX(%-^!!R/_$6ICLSORKV%%D+R80N=$>&J_`1<,-59<,QGS64-XP7K5EE;K M,TF1=5-KJZG9H+H-`UBXQB_3S<._8"ET'TS"_J/M>IC%=1!.UM@3!!4A=;\/ M@ZAQ#VJ2+BJBH1;&]NDPVFM&M>Z!9JBZ9NK?KADP:C>KC8<==9A+0D!'EJI- M^P<<%4NBIW\>P%ZSJ56'F"2+V(B_H:;",&[:@XIA2!+\J-\L`-%6$RKZ3R:L M`21=X]`$8CRO/9QRB)V%-3:/'Y$':Z@06\;&YDR6<_/183X-P503FZQIDF%6 MAY-)-O5%^U&$FON6,O@:8M&W+-"OQ;KB@#9556*R)J(A2K*;3B.8*"?Q$H5\ M9*!84,;8=<1Q;AQ@5?8#+44^#=9.D"&4BMU'Q$E-1-T25:JOBBSJ`J@F#%V4 M-%I7CO-/\H12SVH01''$P5K+EJZ+%H6CE%-#.!5-B")KAGXZG-Q,V%_AN.2_ MR4Q85K?YTM\04RM7@WL+L*L:)TG514ZPN0Q!55)-2:<,9IGJ<[(^BB*9IJJS MV:7KT5O[!9LEL$KP)-P@Y\:U'US/C5T4I4%PO/`)_%GR1U-YP$`T+8ONH5I0 MVFY011-G6KJHM]"@>_L9920&?(0O289F%%WQ$BX-8%0D1A`[>[N;4>#'[EQ,[Q:,N@JKZ7A5!LJ((0N0N_&08S%[ZSK\V2<3I M#I%I[#Z@2FSS`_@(3(8)2\PON!KB>96F5=5%3>7?M,)@=N.7=#V46?N7QAJL MF[)$;24EI@R)J*^\XB9W7&8S63=4K6B3?;:9K43$,6J>`2&RWZWM#^K ME'!I`./$V:TVC"3;@.0-.2<))19-8=4(J"V(57)`^$IJKT< MD,;@.`KM(+A<*@NGH:8IFEFTM32/N@BJCK(&",;!K1W6$@1.FJ6[I1S!CDX<@!6O51Q!4:/R.]RT!C,&N(J+J@>"'B M;*(KP*IB!UNQT$VP]1W'Q9%8V[NU7?`+!_;:C6VO\6:A94F*0KGGI9P:PJFZ M`Z(KNE$#SBYL3;:+0*[K$"WQ4=)'E#C1-T$4D105\*:;2JVKF(95G%U.1-`2 M_&I2[FJFI:K\X-^AV'9]Y`SMT`?%C0HY"'-\`K=Y'-PP1"JUAF**4F-H)?EQ>"+R1"F`?W[ M/=B/B=]WPUEHSV.2.\E%[+*4[JK7`-`R!,7D MVPI,EA^L&M0!J!-A'C?U^?S;M#,F?DG*:)H$26CP44S-TDWKA$FI#M*W(0G6 M\#`T73-?51*CU=IV0TQK,L=7%]V`XCA)3M%]<(FNW&@=1+#*FO/I:G`_BKMK ME?FW"IMU5D$19:,);#+!95/[KNY@:8<+!(.V/,_X,R>U,F'AL)MGZ\`H"A\; MFPA;&UQG^(RU<^-&RT0:>SOYM:TR+'6LHKUC,J:6A>!#$95_L&=?[T/;CVQR M60'>RN4ZLVIT_@>;<4M(F:<"&R-%G@=B3VXG]G#VF[-R?7+1`IYSN(I5$4TZ MD:L*\_8`,[T;BU+8.H")\SL.?+<%'[`KR2HUOY1SXPB)=5)%I9S2:HBR:3%] MRVE=($H6S,'E$W#&B0L05C:A9R`8*J6EV#JYBX?#T!1Z$-X![AQA,2*F2N@MJ=#(F>+,]ERD8TADR5K M#DB!1V/VS%"&:%`QT!+^56.Z,J^8[L%+6A@'[C19H0Y4OW)$]^`5?8RS1I:B M-P3>-"I:4^2F:GW;:&X]B>-+!=J.YM:3J&*:66U,1)<,P6,R/QE3K MCEQ+%=6B03XAD%NSL:JD&]3$='H8MUZ#82FOZ2<$4&L@8+3>4&6-,CD<0[CU MI-*51:NXJ]5J`+>>X+JJFAF]MQF_K2=[2Y*S$_Q_D.AMO>ZU=(T^^_@V8[?U MNEG")Q*^8>BV7J>HHJY*:A/4?"*W]=!_V[AM35/\ZE';FF9K[\Q>VS';FF:E M.<[3`Z`U10K:VCS\R0\NRY'1=84^=M=.M+:F;VL9U/6,W&*U-EMQVKKK*V@AG3/R_RQ*6].ZP"*)OESU M#8=HZZD'+(*ELC@TAP!MS0%I6*7J6CL\6]=9UE6Q:!9J16=K.KV&264KU`C- M#B:?;N^&'X?CZ>BGX;'DVP/I][ME;/3CQO;<.;[DN!]]1`YXK%E>?G(9-U0( ML4-SA9+_N<3'34M6]^MUW,.#5]$1.OAI60 M*#WL5=MX2R9EO8]PY`R-N0&DZ9IT&K9ZXS;,T$"UE6J".NS>?7_O3CE^N;R<_3LA7LWN55W,,DBF'J MC*N\CD4G.`!D"=TR-/HFZ1,`?O9!@3U\P4C9-C:7@(JDJ3)]R>11IMP1LLRZ M8J@FM=58">+QJPHG\W'@?YY6N3&QYB0M240WV;N1&Y.?DV1"MW ML^(1?E:ILZ1,IBU@9`5C+?.8"-D8MSH+RIROR\,I4U2=ONOR`#>.H%A*)\K4 M36@,4,>3(_J^;-V6K>-&_@G?GJF98:/G M]>M4`"UC9][B)1GY&USJH<]MZQ86SR._RG<9>)@A6)U2Z]-Z6%ZK/)PNR_&EC.".IT7N M\6VI>"(/8$[W*WW"G#7!:6)^J5B1,4O$6:R!WX$N?*&+SAJD%-L64#)#!KJY M]XGCDU".48P_,WL;!H\N,+Y\^1QA7=FFH/5GL?O(R_))LJ)KU&P:&3OE`=8&#AA/W%_RXV6\;-T1DA@(RSF9VX,MJ-:5MRO15?]5XMX67&2NP M5(T?7OPY2EPZ^\@WCUE"E"RM%"#-C!\D=FH.]1VVBI#"8(:00U(`\3IB,L_. MC=QZ-OGNU/8L`)\P@2'M?6ZX*H!6D3,=>UW=^SAM/>#[EOG(%\;KNI:Z*+$< MF;(/C//$R+H)23=UG3[]=PK&?`?<@L\P<]>V=X?6J=Y/_)O`]K'KGYR92H^R M[');.W]Z$JU#4Q)T*H MY'^T!-V4K4K>QRO#9KFGABS3F7%U@>=["%^SCW=JN1TYDU4%_'WEH+H7&?($ MQKP-6=),0VX,+#=,N1W34W495I_Z06PT3[[H6*HGZXJAZ8=]#@:ZPKM,RKPV M["R+3@`\PH\K,/:WFB2E.3(7#VW?X;*W2;N-^URXP&!N*1G58)"H1O:I.Y@+ M\9E*V\M\\"0T27V.I.:4()OYS1=8AF/7CD/.\#G`9;*W+#FW#WB(%2MB$$1?I2(9H2=H^ MGGUFW!"Q)B5-D?42"1U%E.G?9)X5CU*)MJ+\8(N5?>6OP)RU_.8=PE)EW6#M M&!P)&W$`R/Q>.G,GY@B^`ZN+;9H1UU59%U8WFF+LG=*LB*!-Y,SK'Q7)U"JM M*)G`<27\=53X#P>^'D&_\49?:T<"+$54K:(W=@J$=L&SC#W>*Z6R4.N#'\[G M,#5,YL/GV=+V%^C.CM'$+Z?'9?>&RD,[A7^[R)GW9IFJS`EZ>9D^C)TPQ&=P M*GV_4K186:BZ19U\J<27*]2J_HL.GI]6%^LIB??[Q]FR[".5FRV:M?#D$A^2 M3G*=]YU1C%9=J<,C1"&J5+KI/DLF)`[24:T#UPI3*/"0NT0+UQSM=A+.2O2#: MA.@>FI8PJR3N#W_WXN\`YM5D3,:")UNK_>S,NCUKNZO MA%\^WG^Z$:0S42`N=_K9S%YO..X(G64GI[,GY2P(%[W[N]XSIB7A MRNFOW3A7\\R)G0X(X>^+^#LL!R$%DM`5VI)5"8SGA]![YT=E")-7S_0K MQWT4HOC%0^\[$#J8Q$/V2^^A0+H' MM`_Q\M`\[E0N_9K(&O':<3A1%)7823+-KW\F7-J1&PG!7``M7-O)34&M(=!S M#W"M8AL6YI MP,+F':ZZ#L&HAC!(!.0O;#S28>3;PD,8V(X08F<1,W-]&*O$:;%]AQ#=/NF& M2:*V8.^6;$`"%JW"9[#?\((,>]PN*$/HG@GW\-:>I6`Q[HUO;QQ<.H$,=M/! MVK9(S&1AI"07<)&AV'&[(_8&1$`?"-50"M>C^2"KUP]B= M>8BPD$0LN#NTP!^#Q2JX[>AI]Q?H.4(1L'Q.-Y MF$#"M(AM'@0Q%$41810BDBOD"`\OVT82/?`0F.PRB9V]W4%P1#%.4XI,C,$F MZ7$[30@@LX#ITH`EPKM:"CB.P%[6+LQY8,^Q+C7DVJ" MO3V?(V1F#`8UV$3@^MO&#D&RR2##C%^0'4:I9KAIJ,+!-J<;V\_X"?B?>!#^ MEWDF[4"``^)E`Q?>*'MOW@'K:(U(AI_W0FPC8?E_[;U9<]M(EC#Z5W`]KA@[ M`J*X4[*[.T*6[2IUN\K^+%5[YJD#)),BVB#`!D#)FE]_SY*92&S<1%*@C'HH M4R20R\F39U]6K)1(-T>E`/&&52.4`%H3X<8@5^&K$;:IW MQP=.0K]/G0BFYA'PXCJ3&&\:Z,@+"ANE50.D\2)0DB_!Z3]8XT/]3;")F!:Z MT5+0("5U8KSSUH@R56,:CL]3/EU(+0!.2'P9K^3E`JC.W(@>&M,P]W!>1**' M0C^$@,?I,)IC1D^&$G%A?8$N5*C0F"9`/)+X^EZ,Q&PH0@-G6XRS%;Z:5\S= M@[GK(_[`1F?ZP&VBITXZ\PXD#J%0SX<=1Q'*,`@2QYHX@%#Z)!3'"S.W7_%K M==OGK&``!#6=D[20+CI(&)<2E4&,\AR@H1-W)(\BH8PS!VB"O#F(O<7,1@DD M*Q@.C`,/(:,VAFRIE3*YM72XM+E#*:0)I&Q,U9:3,UNAJP8FBF\H,X[XRF2` M2'=BYCS`IFDJ\6/.[CP%7860N*XE&(F4*1+FGJ-IL/#&>!^`&"KV\N^%3_(1 MS:4%I]4`3$DV^$XH`)#J1'%PO&@7O@_$`>2J>1#R?0445%+8/W);6G;'FDON M6/*%D>.V8XTWL4]\@*V76R?6L6"0(P[46YEYA*DE8>##QQ%/_VQ-$FWKQ%I[ M\WNU%CQ&;7W7L#`T!`A@L@9D,[@)@P6H(T@A MAW'Z@2?8VC9BR`5(=E[R#3-'Q*>/%]?O8)/1@D2W(O2S%G/D1SK&"\QCAG'Y`F5.D$@^/C\>2%)+ZQRP# MOAZBS%NREJ43:*M,HEG@C=1P`/$(J)K++!=D`Y?BDA,X!"SMQ?<@WX0N2;T@ M\+.Y0:V&I!\MYC/CUQ"9!6,M?5G`GC>#T)M$?W[EOC84936!DJK56DCEN`66 M0F([LCN4D90&9@Q6-AHM`L:!E:&D%+J"`@(2H86F@SW!ID"^4I!-0Q5?)J(+\J%VAP$1^(`%7M(H[4TS24W@B;0ZP:9*PP2;92%=+0X&(?(HEH9 MFO&-(B$[&)$6QA@>N3C]WQW8>IC:H10N/Q)JZ%QV>3%#82@0"&*4=*GB!ORY M`*DE3&V/P76?A\0,E'6DZZ1,Z(H=+"D'D4C-/$]!0`*,.!2-+O5(-!W)4VA8 M0(O4Q;5Q^AFH/WRN.-J=.U:,+G^G4[@O:4$)9.52BA8@#U]JO8@AV#TF4M,R M+L(K3-(4]DB=.HVZ`0O:)0([A2$IJT6!HJL(&A:"L"9><+_,VHB"W4>8)"B2 M^$X+?RD??UP\8_J^8/T.`=PAZR6&RZ#V0SU)52Z.1[B=[X8B0J6 M*"H@$M`%4@95MB[C,UDDIMAY01S.IT#O*#'$GPENVY[F^JVZQ,3N92!=#W$;, M5JSD)7-E^%Q"C6ATO5CB-'C(#0L574`#(BKH51),@U(48RC0]&ER/&1DQ92^ MS20ZA4IL61M*4A_%9$>B-6B#Y(^1F#.!88.`(FS&P2&K&CL/,+?<#7;1HCD\ M:J5ER^UKG2.!&;D!X&K[;#]QC<8F$F1$%AW8=DR4E0DUOSPD?R/.HU:;@%7Q MH&-PNYA'FL)#`U`:0U"R(&8?D'C`[@?-_16W)5!%?.)>4OK$MD@@0BXG;832 M1,=F'C);HT-3A)&Q$$M0[Q8+QC>/+I03U9($%HM91+HI,/L@1--0 M:BA@HE/70].N_Z!,:'3OM7T/D989J+2_:4L:_!C!Z9&(Q.R7&:ZR0L]#9.,@ MGZ2%L43VG@;W\HIKJSX>[7<,W\E8T,=CV%$DY?42LH,DP?!2:4@G-KE@,H&S MH8LCYR&OX0(YW-P)8R7<6Z$;?6?TEF8\O(DX0:(`S;$.'PA1K]R&:-C2$'L" M2@*?,]Y>"CM\3<-,W=LI.K_P\Q`_P(,V/!-K'0P.=.H.)7'SK2&:;IQ;W.Q( M*AM\"H!X[!;R@(9ZD3HT`R9`74,G'$V!=+',NE3+.J(+FE@:39W95 M,V4&,79">HT@G"U&K4C*?=8D#&:L8"B":JZ/I&`DZU*B'05P._Y/2!F8ITBT MD;Q$"Z0#E3="&T(AZ5])5*T,[S()K1*_)94:IR5ZDM:+9]6K5J,C.V48\5)( M#$H0/Q:CJ>_^9R&42N1)-^M\H0%%K$G!RC`IIC+\G2=8TN./24C6O+0X&/!(1 M->WEV5I&U<2-26@"'C[X"3'I!$327RUV0PW$V!QD0IK*!(GJ`GAR.J]8"W'GX@+L5Z.-3Y@^Y#(*D MG"*2X812Z M2*GZ&9I`E(XL-7Z@:<RCK3+AI4LV<(U'XG?C$Q+)#O`%?EP>8'" M+JI+<+MO0<35-IC6^?DY48EVL]G5H9UF6&9?@TC<<8D*)LR*]4*.2M5 MRFKXV5)5,:0!.&54]JBPCZ2<+*"I'-K)@D(+DF?SJWREUY6?#"4W\J&@9=KY M+E<^FHKQPB-Q5:F`'(DJHP7UZ](E8QX+PNTU"\?&O+A,FHU=%@P1A62:5^N8 MP;F'_938<^"/=6NP1 MG&RX2M2%)1LS-A/9^5WYTB$&>Y&-C,R5DP*Q$B%IBF3U*4<%*!0.&A(=U.<2 M;05E01(WA2?%?77.P1"(I%0`5@`*3CBDX"IR`MG6?!%B+9688&Z-0(R)3J1) MT\,MA9C,)`,2%<%C=8RD/I)2S,O.MU,#*X\L6J/*P3^YZQR-&"U`,$EM%TN' MQMI]Q4`G'2N01H=5Y"!'&VT:$YU-2*[9YZ1?9W,244%:#ME]6:9&8"$11E/5 M,L):NU>>TKVRG6,B'$U3:E^3\#TE"#C6RUZOF2=@A--(!I!G$GXH2<"13E(, M1%2>5YTWPM1K+NM"L5F"'(`D+#HCOGYDMM8R%,K7GK3]J9NJ%(U85GZ0FHJR M?TON;@HEK%C=@M:#CGFA_>QL5E?;24SI]WA#.%J1K;Y$3@P&Q:^PJJ&!0$:O M/0N!L_&9%,UI-&U!%%##L7% MR(2*$PW?%:D4C76,/CE=LD3-V:7ZJ)NSH$4"K?\?@Y"#N#Z1>^K9ZI)=(VET MY>8KJUB^I\P;7CP9VGGY%J__&'C.9Q\E&H="H12?82[#]AVRY474V25^F"OU M1_KJ+$PBHA)0(+0L9ES!(()QI$>)@O[OV*D%-XC>0I$*8T#1569&V-B90/$D M2!QG)UKD:^$(M0B:8X4F,4&RHR4JID1J7R0%9C?&LRK-061\;T,N#8&+>=GO M-0IT"!R40]63G67&S(]GH\%2V6,=A4\V3=-N-OJY:4B)*H]@MR6G4M-DU(.) MSGXK!HR$A%[P[*%@%LV1E%4@2#S?;=\&>`;3Y5*D*,U=I&6'8XE:,"*T' ME:+@I.B$=*-R#`**.SFD,5-`DE'9._5F+5A(R3GUIN_TJK&+/QWF`57_@S/ M@#NM`<5U%[CV1C**&B@$@#'P19MF?_4>%810QBD&BPBH1O1ZVVF+@*$DL7+L MRF+@NV#\L!H#%8B'SNC[+>A1_OB-]5_`O<1D4@;7(A'%I#&MWOR'O&8L#+\Y MP:]HN(MR`I&_[X\_ML,^5X+$ZV'K8Z`JJSFA`EC.,/<`WEP%CY>KGPW=VRD_ MW&[9S6Y[O\#>`WIWFN4'037U(N7X?!IK&*$AV17[`#>(?O>A,__K"_[W18YR;'<6KUIVK]-:?UI\),>6 MUY8]6A)2.Z;>R=8/`7A#U?XW0'\'E,2T@$0/"W"%XGGIZ2YIK^J/5MZ&RNLC$6% M"U9:77<>)K5I<^S/_D`@#-#]SZ*2"PSIWIP+6 MQ9#JFHBLB=%(61T94#'3OM)0F1!4:&="0\8HN)`JI[5.T1D9JK.7M77;I_(9E=B\KG/(BR^PO M-R3!L.AOD>S_^,4^^:9`F5ES2QL-^Q.@3W\S0*.0:RG9MH*(\XCM-)_7=GZ> MTZFO=%%4@;(,5!`->(&)Q:*R2ZQA6,.P"DO\"6#XS*COE:RU5]D3,XS$E5UC M#<0:B-58X\\`Q&=&@8.PLH>5..4JN\0:>C7T:NCM`7K/B,IN9'?AZ(,#6&;W M.>!>89-TJZC!4Z-.C3HUZM2H\^3@J5'GJ5%GUP+3RF02C/$]??6KX_I;YV#6 MS_TLSVW@^L2WS51?F;6_?:9O_=SS?JZ(\CV33&XC6IV&R05GT[?Y"&WZ.DBJ MG%B>^QUK4M'W'+@>R3!V_#V3BP\-$!;W;-#HO3V(-VZH,&A(=II-P:[Y&L' MR=_]F*3]T#"9W)^I`,Y!/TQD1:^$S]#7BK68Y1OY>2P(2:_K-^E[Y*;(ECBK MB+]+THJXIA2S--W?FDM+T9>OG->58F`'1,Y'+')[O#SD,OO'L,AN\SBH9A5" M=Q];BZ*SC.>O58GBD!#O'07^=OJMQIXKUU1$;S)5(OK!J$"++(F^P_9D)\$B MKA1364M.KPY*'=ERCX-\MQL'U"2>.3#;1Z(['L4B'X&8)>QCH]HY.]V=MD0/ MTC++(2LW'7PYUHZ'JU>]G9BT!U'HAGK,T0A7^2H?K-^G2WT4Z?RLOK-ZKC7S M2@E(!U1G'VDV[C3.CH&J'PU`>YW&`17;1X@<1^/9:'4'QV'1Z)T?"TB[S?Y/ M*B3MK?S?X==3*'`\9KQZW5OY\[V40FY01>(Z3"9Q^WE M0S'RG"AR)RY/^S$CRJO>6AG_&C8EB@)LGER^7U8-UMTO]\F9A^Y(K`()]W3# M_2P%#E<91)>CK#_(G4UTCVPQ;FS-3SO98JE;M1CYR;46VF#JFD37L"DUN<:D+/A MAHJD=Y0J/CIQ1G$0%K0F66+V4`#+W,XG89FIVUTZ"HA,0?A&B05O+=,31H$2 MK*.KG#KM/H\\W$P<6)-$O:2X M.OUPTCES0V1.DR#$5_9EU[T2$F-RH&.?3M.&5^]I*KCTN M\'S=!9H>1TE=>64NMR_QQ6T0N[+GL6Q4YX9CIYJD/:&#L7C^&R MP0@RIA-&I:9?1EPG4^JQ2]W4^,ZJIIQ:5I!=SL?R-4,\`#CDQ(,4QWU+JS&@ MDP+/$JY@`H,X-M$"<[L4(81-SB8>KEA/BTW=4UVX2,A8NOP,-ZWVV MVG6.`]*(N4Z2@2\R)$'>T,P%Q9GHUL-]3-U.>GS5ZE*-V(EP8!MC:C-,0@$!I(S3J"HTD7V-\#;D#H<&T:(0X M0+U)B-3^>G'QA:"CD2/5]-[AC8"8@@N98(-W>-`E/6441+'-<'`RK_GB#IZG M!L>;4%7NA!I'67U*KF*,\CHL@EF4&GCDJ/[*YA*V%:UKP>MG)JO?A!(9N$6W MXS^LDF@RX5.IR*F-U8.=8NT3:HC-GU5#1$?(_^E M;%Y:JV+47:Y9U>K$,T0GBM]?4Y_/X1+VMTF+\S/9@KU8FL?W-Q$+:XQ[AAA' M$9-;89S!'Y7PQ:^R%<34ZDR)#-_A,>A5_#J2F@60S(1N-JP;Y+SP-XW'M%1J M%_R2&Z7<09](*TNZS;/T$,#S@.]1)%AF"!8\WF6`X6D1^A+@(SE*27A4'2.O MIT+L5GO9@QQXO5Y'JY]5"J3@H4(Q<,U68+406-/0=6@H)2OOV$\@G>4>FYP` M!TM\`"5CF2;JEZU!HU.P/G9$L#UJ:V/XX=7OK-;_"J)02MT`A1$R6[@!$O[&INRE/*[4&[#, M$<#7>1/T7^4(D->8NG5F[_Y&/@$]+XVXA4\@B,263@'>Y%JV?=IIFO:NM/(O ML_!O?"#*RE]NX=>ZXTHKO_7-V-U2W#=`Y\WD8_'!A@7A?00_-)7>R]=/:OF3!W,1(ZT8@>+]EGT-);>L"[(@%C&&7M]I6,B MT>B=)^/E='^F'QH1UK(EU-3C&5*/V@MZ"/TM^>(OIZXW&;U1LG52#D1VQ;OP MQUCZD_HV&:T+/OM\/S^HZWD-TL+G\"9X)]Z[T3R`C7R>W("0^7KTE?6#1`\V-\?`5"\DY/D":Z_7?X,+3 MG)R>?NMORBO/Y[??]\ZL=;=^WZ4Z8UUOU9[ MGB$B'QN*KNOU6[\I!HY;V*>FO*7:^4UH8V^BWX%ZY]ZAY`!GM5PD*54H:3_% MGH`5:F/:.%&@+:ZM]>7TQ26JI:F"EF!M>67]MI;U9BF1D?;3<*:D24ZSN-S"4K%C+2#LJR'0R@;EV5(=.VAN=#3MDBZ=,'Q` MBENISI&%8C*93]=@;^Z!\3'?/B>>!HL(I-'M^^<4`?29]%=1$C?H`.]!>)\- M16APZ!8KMSD&_?CS7/O<.H36BWVUO7I7PR\I=#A3WU!]O7+5_2<.'(Z!4P3WO078)! MCR%8&Y6.?`P^)9L_!!*9FD<*HD]3O?NX]U%)7K?"``>"?+&9[6?E7X\LK;P' M'G;LI&=7U_8`=7&?P6:*D&@_Q6`/'N)61JK(=UANCDBG#L"CJ<0=&^N7S06Z M+(3W8"\6_K04C MFCX!3QH`H9!U0+FZFXABBJM(A1#"VJB0*@V4],P54409`"KN@\+A1T*%:Z`G M^=9W56B^SAO`O\6/.7IXTQ7/=%%6\ETKI4UFC\Q,U8W&7UVB=&7 MD28J2O]8DKN!1[KBL#=*WX@:U;VDV>R9)7D0&^5`,*85IT%LD0*1)$!$*LV# M+[UYQXK2(C(E6JB4[KJ89-ZS"A_A'P@;)YI:\S``L70L\RJY$#$FC64/*GV. M:<1V(QGE(:\./"`,9]ER^,`C]:S(CH,.%T1C$^J&*_9-S7 MS'FPQNX$[B4O$$Y%DQG"D#3IHM]2D2E)19-IKO18)@$':!6<+6).X$L2`"C@ MSN@;'FT4S.:>4,3-T:66;70J1,%,(%`%QLI-!<>Y&*0N'QR:`Z-9HIK^B-UX M@9NCF%8&!)Y&NF!G(8;E(ES6")O899C*(CJY=9SYF_=B&+]WHY$71(OP^4:G M#*P3:\66*QN4\BLP38SV_.CZ(+L`ND>$0(?-U]B8A'U>A!RD.E'+YJJ0<$5# M-\)@VDDV9B7.?($19JM2%.I8D_P[QQN?\9QF6=N4L*9/?^\&O/*("'P;)2HL M#/N$%L;E"U2:%6I5>S?_5/_,-HIBT;5_JG:PF^YB_X:_JI]\'4VSD<'U6HP6 MRJ;P-*;VG^.YDONU&^=PI[GL@'T753@^9Q#JX"+LPZWW*)]%QSYO-FV@8PZYW6\?L,/I8Q8[&`SL]MG6 MS4.?C%J\<_SOK+:^03$2OXNQNYB=W(AP1C[1BHFM M7?MLT+1[_795CG/I:OOV6:MIGW6WUL;V2@_6TG`K=?SMYN!8=)9VIPO:[?$9 MOGX";:;;ML\'2RQD1Z;-=`<[V$ZMS=3:3!5YU!%J+*V>W03BW]O>KGW0U?;M M\_.!W>TO22_F2=H\/SET>N>+`G'G/LY&575[/.[-X6B?:3V5V&;@:B=G*I0Y2^0_D)\,?9 M+V^M38AO^=IR7SQ-SX\B0B'7T$FZRI10E$S6QLH'S_O%3ZY@-5AE?1VVF3WJ M5\X.[)#XU6?,JG(CRYFA[=:V7K::O:**Y:\PY/]U\CUEV[9:G:(V(/ALTW@6 MAO<#_P23/!=A1)G35Y\^7G*VXPUU8\L'2:EF(/`]Q>$^6/^\^L">J9%94-SU M83@:"9L3C'397!14@.`\V3] MV!VY<]IW).+8X_8(P82@%"QB``$GQV8;0]`6G?(^"*M*-S2L2Q'&CNMG4KR3 MQBIJG72RF!HK3R]9TU2,;Y5;P5B:-75@P]B2T.BLX(_5@+35N1-R1XE-:]%' MMJQV3ZF%Q=GIDR`4<.9RY2->."Z6WO$)&0%KH]C"122_<'%MM])5`#YBT#NF M/$L<43W;'KA-2NU^9 MBC]?A%A4'R>3*>(*A/`Z'4'LQEQD(:GZ(=O]Q)CZ/?<(1V@&JGD!^!4_<)(H M#IR:E?)(/3S&T/$:BN283R28I7HM)&G=3+NB.'1'A&/F>[+8`\"+!3@`&=,H MW5MH+`!X;I)C#E2,:FS@C#1\IEDI[M`)!4,I=.%P'V!A/HP"I"M\T'4\%#6T M95=0@!F6`L'327!<'@`\#FLC#&1ZF2:5:Y!)ZUH(SHS^PV*<.6NWVF\)G@/DQ8@W/8Z4YD!DYXEEQ2V0_^2K=M,H2^1&T4)0J9'SDA-()1#Y&#IC<\6'EZU& MIY=[B7:N&S4!X[P6\SC#76'V+M&5H7#D8_**P8S]1N\7E-P:[4%^].*1:4X8 MM%\X*#-D''B`([.LM\'HJ76?F5/0R.;:!XU6N_<+UPPA4!'QT]E7#T`Q#8H\ M#P*/R*CF"41;'4\*$4C(9'*HUZ!JE9/RQ[(&C&+JJ,)2J?X.]Z>!5E$\U MG1N\C5)4GV7+^ZF+=-6E(']@=]CT&)F7JCEK+#/51X<(.^Z#-JEJ&TDTT5SA M=@&"#,!)]G2FG[DVDX/2#[:\2W[`4@B._X#538AI()$(Y&[Y@&)@#4"2[EQ< MA.RV=^O>T?M)\^6AB.^1!W::^'[?Z,@U=AZBU,ATB%0Z!QL7]:4I`<)4/LJOGI1O:51'LYXV*!O. M=W&"PH;07[;>HB@XN:\-EL_BHN6Y(&Z\-1]R7V<8`E8@LW7M M+KQ1M,A[5Y8C&W,O)KI;U'(J/5QJUC%VV@.P46\L+#N$R(_!C=B?;D3J"'X, M18R?HJD3\J556L/(F;LQ24'!Z'MJGKOT-)(ZE0$+I<]E(J3L`)>,L^1A!M`%2Y$TIK<8D>:4C*!EVR/=[2&?#LC5G2)YD(BC:(N.$M_$.]]LR32IT2 MGJ?J<8<%D%`Q17(M?V$AB%=W-!>1NL5+:LHJ37+=Q!TWZ<5:>1-GX<6F6HG- M1['QJ.?.7%8I;:W`3!S7P\%1009TC4:@/2ZPIZ]!"DT-$Q[2_8`-!I(>2C+% MV1P`3A)(0@V(H*J^B<#?YF+$Q:PDB]+;Y3%!R1`>E;1C*6?$2KY!2/"%(>S* MQY*"L$38.Q%B5//LXPAQTQ@**4%0+D[5+>!54^(S]$#!HRM M8`14D$9Y4`R#M$23I;"JEI!.27!,\HGER=S93,!=(,%]*$:H$6,G/K(S.`^H MXAQ>E/[P8QZ$L75)U>^LC\X(22[2X2,0IT%DH9(3RE1'.=.\@P<3`>'<6^?G MYP3H=K/9Q6I]P>)VJK$B,39(M"@P.*0I*Z%9B6:_C`;2^$6:/8NIZ64:^W%5 M#\=%).U%*&RH$GA$%"[<<+B0-K:DNB)O%(9CXUI:J\P7_&Q0-3'#5(IL+BEF MZ=S!_2>+.RQA8>Y&"JOI(V"C"A9;I2&`891<&]IW^EU]28L58887CSESQL(8 M;"78'`MQ7E(;K#^8`EI*-L?*D.E"@^;$"!Q#F@:5X@Y..5A$UH=%&,P%R-.P MF"AME$E4;K@A8VG(`8V:B"BKYY&26Q/1814JHG9`=BVF^D&ZI"$?*+R90"F! M4(69(^A/?W=\@+#1IQ=QA;3EU-TOP2(X;3IZ9!F$8W"M`2`X)8KQ^`W&$ M@96^7?VVO&#%EZMA+3/9>![-Q$B3.X('NB%$1^:.2UQRLO`\U455/N.B"@=+ M!T'=ENV0M0HT"H,H.C$1BYEITKR8%%.2[QE46?H".AS0Z#9+>Y0WK0Y8$ MZV?'!!]-OK=YZ]#=QJ#URY++L\ZU3:!=ZUP6)`3\T`U%UX\M$J?Q*7^EUY2=T$ME(VHI!V=]80A<3ZYN]G2Y+,%WF%QZT:Q7+KXP?9>K1-PA6J&$Q"=6^>6+[Q2(Q)Q M:T'TG*$P!!TV$4_*A'M7T8V1G.'?L/YH#!H$N:?A9^87^%`BL!LV:.KOSJN' MJ5\E"R1#E>\]F(YRR=>!Y'A,:5*XM@3/4L889%TH81#G@G/P!:TVP5>N>[]* M-H%A0'\:A>X023P*&Z^7BE-2I4BP)U&WM[AR9AWX#&/HG.AK8FWP+KFTK'*%I4I4GTZ_#5V9^>WYDMGG334*_TS511?;+2% MZA)UHYG#Q`WA+O\'U`;I"-`.MI1<9E@(X*\\G@I=0SZO6-#YE)PR""`HGVMW M>MD-@/685NV,Q27CI3%C5981>R7*49R%4A,?L/@]B&5N-$VNOY++LF)A8IW( M;3MC83>LMY(.`!QO<=4F?;R3>E:>2N:5TF(-3B._8D`\*E.BK!N[%+G7F8T8 MSF@A8R3D$<@@(GT`2QP#:,JA2?_&O'-#S@`(@;*8?6:O]ALK*<-!P@:]!^RMX3F>)48D&DY^$,2&)=` M:B41?TU,!$VD&YR:]:\ARO4$'P)CHE,4WY@G1[SO%44N2O; M)`A_K"RI`%L/_@3M7+'?L>;+-(N83*3H.A>A&\B6+H;OB,*WY&.ZDPN[_Y7> MJB5'6+_K%0>,*LM%&VZB-0QI;?Q^)$H0\#Y8>&/I7L(UH*D!H^=D2RIR#.E^ M/\(W3'I2<,ITJ"I=-MG%:3)2MSBJD$:2Q\LH=ZL%Q9?ML\WZ>]GD6)*&1'5, M%,*AA)+4YOAD<(,5)BDIA,FAQ')&(H0,$-6$GN)RI(3_A,[`9`7H5S@>*KF?J4K MYAEHI3Y$9IL/Z9`4L14G\H`P6FE'Z+=!F078%XC,YW&/6FS*0PS0X>X&Q77D[4XN%W9,AG!%&&JBCV>%7('B\NN/?3[CE&`DWL45=PJ)$:J3,:^PJ?,")SORH3]F5B\+F@1XU(W=?)/'$ML=F4\.J?/NX93BH.A M68DI@\(Z=?QP$AC-QKI4P&.YD5;'82L@)WH'7U`R_Y'&H;J[2DL<8/$B>EMH M"`/(Y-OM*W/9H"N'G+H7.KK**YO%L@!XQ^OHBE]H0R'9H%?HR0 MB!A$#11`$E@]T$R\*N/(9PSN"$?3(F$-6Y%+9_0R8ISV7N@+1"YKO$72;*#, M#.S*$\2"1L$,$$B'0S)'(A*+AYRQ'Q68CXQP%1UPK=O/`@Z&PI$1=KG!BN17 M%4(GY1.RS!5#Y\Q.W(E%?FGM[,(="F[N623DMVV=*Q0ET@IM(Q(P/2PFPL(>DZAG`'\Z%` MS+X(9..<2.$;>*`>T7>C/&90"=QZ'2QVR+4H1Z6T.I!'A]!.YD,9;)0B*2=P MS%$?U%$6KL%$^%U)H!LL4OTD\.F*IG\"@S7]9)T_N0J'HJU2+G'SF)N$# MUU\^&.*[EKI2=AKF'AEPT;<2IO0^XE*2Z)F,F_64I)I^%8_\QJ&@H-K M4W&_::%UTD+08AP.12)+"SDI=YF1(9 MI7BN);$$!+AL1F:OJ$%[8>!8ZZR55]W(0M$_[^=_T5&>"!M`-(D]=2S!17.VVX;O\B'R8RJS)-*5E50;Y8;)'BAH,YJ`4C MJ&S8DI>Y24+A;YV$;-/:39M0>7XFCKIS$$F\F3JE/8RE0J:T7I2 MT08DELM0;[RJCHS98X(VF0#PG&HG`Q?$L9_;+&7JS.Z7G?,B4RCY$XW*I3IU MB"]06IW)T%R6MZA\R(.,0B7WK`P&]<M02=U2'>Q&_),&(4E M\5#'P3N^(:)*7WJLA:=`_NZYOFA(,7L41\Q;PCMWQ"X%Q3[8>Z>D*MZ(%")+ MEDIW%A9"Q0`06T`>EKE?'+4FOR/;_UF[P9Z+F5+"4B'OFOU-E1\1V1T3GK*Z M6$JR#U`>Y:GX[J%WIUNP8LXUD7FU:\V;3HCB6=\%*B)4;CDE:F;*,N0$WF0B M]GNB(!KQH'I`T]J=SZ-HG?%MS`3KIP/MEP:=QD6A_IHUTE&5>:N*P)H`@ES, MG4:GRTI"K]'L_E+DD&+L8D]]*KOD/LA8WT?./!/;B.<=S-B%OQ2.\>7BUP_OOGZX^$?VZ6Q]Q(D#BWIX8_WW#4@7 M$657?@7N[/^W35_80%;<2;[$8J:E^CK\`+Y(CS-,;V.X?%?[YT%7>;-,DS/Y M-`%_V2NL$*B,PUE^8O`21P5WN2>GITWSDQ.=OB0#VZ8JP(_=+%]ZR*D MU"HBE<<0!9(W([<&=EF`N_5RT"OB/7FMV$2Y;B>/<85F.L/N)(,FU"O205YL MO9.L.F7!6\\&35E1V@*WEO6-)NOU?UG+YBQ!V=O`5JS=_NRH,+WC$R$.`*E MT93S)W9K4_YQ(U7_P0S9TUYY&M0/,B9P2:((=@D5%_<>62-G4BME9O2U3>@T?-Z,OJX)?6EU'?:G M2R$PE82/!+TS,%)U[6JM)QLY(VE8\E](R$GHI=#\V5=IEEF MBJ:>&KXG1)Z`FE)TO_=)*>K-/8 M4:3!6"2SPMJ255:8LOVILVJ7;<"H`EQ:\A)THV9.-V)!"Z./N=S<6$8GZCJ\ MY9'7??C!>`U?.6?ISS2A=EDT*??+E"[K#,>74GXR1[N)<^13MZ0&DO.X9";K M%:4`T&1G@^QN!C@3>_DE3%0[@64UFR:J#`11;J$SB#B>*H!;$Z8]"XG*8!B' MT\-+N:A57&R):Q_86N]"->'EP,S[,J`Z7X!.-`*.(PD7R^Y,O(ACR64DS,`N M-(&C]4/74FPV^DVL+&,-&N<8^21COBB50+H)J$`UA@Z2Z,Q()V=FU07!9$BR6(:M!$;95;')M%\8IA>_A1&3C3E_(JQU/QJ;T(EO0EK2D0W MC'B?-;W^HA`H(]V]07M8&;F^UVQ`EN/@!CE(UP!#*`97QVM)'$_=`D0]HXPD M$TH,I&02(J]<+DT\EP]1;`YJ-?J#'";;Z638F!K.YK$[U9IF-`H7?(&EV4S6 M(V2.81?::0LN$157RM0#8E:*^@_:2!+C12(8$)31(W+K4V%,+X@H2+2\/D^_ MU<@'X&FOOJJ+SSP\TL`#K2EI"Y,0/.7.0(J+M%![AA(OS$7?B&LJR,C#9.` M!YPDTN7AXI;R5_CO M-?IUG@'37+-5]#H+7'LC)2W]%+\W&E;BVQ>*OSQ^YN?RW*$A^,PPZHN64V0R M9N4.^$@0:U>`?&;X]3G1ZBI[=#//`KU&,5C.DHAP6JXN5 M/3RF"M:%U"(JN\Y+TV9:%0Q;VODXT[N;1T$S2&&GZD/"LV1EQ3VTI9UC9SV< MGW(OJ")K:\VKX3/84(FA(FO,>!>,'U8;,S0^.*/OMR%0Z_$;Z[^`7(O) MI(SK%5E[32MHJS?_(2TVW"_HS0E^1<-AZ&'SEY37FH;[@RUJUR+IJ8>0^7^R MT@-ZQO)9T!WY*X;NY.Q..T""+**]7/TLE2JAAWO-I@WWZ(!$X%'+;9]W[.YY M_VB6V^S;O69WQS1I/:GO,?C?:W2;&^#_5P/_/XIAF+D`O?U>@$V/,CD>N.2' M1?[ME]HYZ]O]=NV7 MVN[W`+E:Q[#43J<+5_;\"(E_9UOBGXK8J"*FGQT/Q>\VV_;Y^5%0_&YW`%!] M;A2_MZT*<(U6I'3\765%H,[QD/X6+/5LT#Z*I9Z?VZWVV1&2_N8FI'\%TE=7 M\#\JK._8O?[6*N1AL;YO=SM;*^<590/MW5F"FLE]Z-3W84N=O6VW.T=Q'=KM M@3WH[_DZ[`'E^XT.!OOO0-=M<]&_:N%Z"S']6+`=!.M6]X#FSNU7>MYKVV>] M79LZ"P(M)9;N&.F3E>T!67-^&M/3E8)DQN]%\=O%3J]*A-W4^]CA/BHI_U#\ MS3ZNQ*/\*EW[X";+QRVX9?=1<#G?VAIXZ`6W[7,47YI;6UJ?*4'?%1'I`!$9 M!POT@#\=-:PW<\C-%-V(=+Q$42S$*66,6]?)9HFU*$V,8O?A MC[-?WEJ;\+SRM>6^X`P:,]EE65),-G]F[N)4U*546@>ZZ<$GM%[WC,9IP,DBVP@1G\!741"H>B'>OA;+/3GO@Q=[FR;8'YFGM7?... M?[D$339H&Z4#:&X00H*9K-F<*Q4@,_JII:A>SXJ^=CP*S94TG8A1N=1I[@.=5;!FB.\J8#J948+HCTJW0"?^EC4[9M1J`RKDM$8E!*?GVE!*U6]*,6/T93&Y8DP71D`1?FW M7.M'=N:C\:.I$#$U#I15K(-0P%5-!G'&_P84F)G-D]4S&FAY9%1]AEZVSUJ- M@EX:7-*D7U@MMA1/Z:W";M&R@&:JZO+Z4LRA"=*%%<+!`13OG7"LH1JY/ZP9 MK&"*C:(P\;FLM(EJ,YH]!>.D5$4[0)0U#LLE)(DPEI<3QZF0R9+4Y;INPAJH M]6R3NL_.JI'6>YA9UA8_GRI/:DEN0T92)>&TCLQ?SZSS<4OR2G.:-)9X-O"T MM3^'8N[,N`^L>714I]0_^?/Z9>Z0]G`,FQZ7<02M MOMW>^1$V]45>@:6ZR;O\)S#&RLLX5V'2YGSG4Y^<:@ MG89;3G-CV!+0&?8MJA[I0+7HN(>Z&1F<&59N>:2!5W,X,@)6AC3K+H1B+ MV9RRY75%=3EH3*O3U>YED3(R+PG=$\+UOY.E:4'-877G]ZBT#ANN)#%VY1N' MF!4\:0JZRI'954JU9$!C(=;5L_&`X`_NVQY/X0<86!7-HQK!NJJOM@U1C3-5 MD%%_FQC+X$B$,YJJ&H_*3&<,I9\C6Z5\CO:9KYKNXI%C$RPJZ1W9U+A>#F5, MFL*68RTW3!5-?7]!1>@+.@(Y5/4YL>#H#M[#!ZM)!8%!]*7RK@3U<\.$/78> M(NY08+3<1IM_-HJTW5<6IZ$8.=A4@#- M&8L1:*"(1[ITM>P:=_WADC\Z;)*D.KNZJS!58:?=.U*C-O9.O5)B;Y M6'H(+RFLW9K\-;672A6=4VEAA/4MD:V?C">=E\G3TL1 MG.X*DCKL%0"@1RHXIIX`SH@;Q%C+RND\ZI;``@7VA,W<5P/!\=*T(#/B=!E"(I^4K)6^:=UJQ=9:38] M5$(S93^A=$L90^I!]Y`[<;FN=6QN5W(%T,0]65D7=R=O"U\3HA5F2QBC0B]Y M"1'EE$-=>2S-YYF>I&^@JFKK(L;=H>Y-S4FPE0\]8,#8"D9`/VB4!R5.PYK\ MDL:E)VW@X_G?K/<`K0P4K>5L^%XA, MTJ+;*NKEAY+ORW91,$'2WBR>`JJ>D-@&[!D00G4]`@D$!(ZD6[CTK:,%:8XH MTFI90P">"A(Q0@Z*)#NY3.IHZ48KIDJ1@+(&O+*EC<,MT%B8"E,=Q?@2&1*) M[#`V%BC-D\**HA7UD@%N?,)#`UD@^?0V=,>LA3*$)RQ1%0 MZ)25G[&L=DHXT)VN2#%*6@!QS`(LE3K@<"].D,RP-3D.0+W@9/,?1S]FL!(X M7FS6@'O'*O[WU*2(N\R;#8]T/ZW4JV1_D]+DDO$HN"(76I7XCOU`4@X&%XFJ M1>3#Q`J-"A5F78S&&OM,\\/G41RDS204 M.=7L$^9&0C=20Y0R9D8<2&)NBD:A21/E18OJVK"`RY"1!'!TF2N=$K_6A($:5]!O[5^*FE?),!.:70 M)5N;?,^:XN4!%05M!L0F21.9)QTU7_:;3Y&Y9)/1-@+J1@D"_JPXAJL6KI--)A&2KT5-D%A<%-H0>XU!5S86160KP>&H_(RX8QKW@\4I M$,%R^,@8[4Y4Q]AQL!3W"A>+6U9&\1PVV`P-&EQ#Q$Y$:AZO%%'.FH]"%(DD MFKP^%:*@LBLA/)H&:$V1#A4Q6WTGB?3.%FPGL##T+6FI6Q1!S/-PS[6AH(.@ MF5"^D%K*@]E%)]M!1YE*#8/<(CVD(/J3D^0)#NTJ?R:9*G3O'%3%K@`]P@69:"[\\6\< M7WV!6AIU_BI8#VE]\,=7,?GKBVOWQ^\4./L!1<5_=9I`3Y"`O/B;%,W>?[Z\ M^=\O'ZQI//.L+W^^^W1U:;TX.3W]UKD\/7U_\][ZG]]N?O\$EZIIW:`E49KV M3T\__/'">C&-X_F;T]/[^_O&?:<1A+>G-U]/?^!8+7Q9?CR)C3<;XWC\HCSL M+0^;,^O$V@5<]BIYKB]WM=I2\-0RYV\-*]F7E>SA"<30C46_;X):BH_U^J5= MP$>-7R4,T'=I^B_3;=*1-:$;?:?FX;2],L['/1O7&2^Z=^:FB5-:AF1PCS2- M+G"<.?"8A[1YE88=%0V`^FG2%SUYOV%]7H1J%=+D4K*2==)(4*].KZ9D%&F$ M1:L5;2&)/L@/,2H9`5\ZJ[`1XQOW3PO'4F@@[\;$<2F(;"'8EI7@H(N"))EP M0>__?'D%/\X%LQ06'Z0'B9TN!O/!!!:!RK6VVAF3\(]H[<=>P* MZ]M4=<>4PXT(3:A='?MY01MQQ1WRUEB+S_D=<5J+I@QD>$(8D.`F3>.X20J& M8*%+NES@P9/,[AQS*&01H3.*;3/I!=>YF"T8L>4$%P@\F1M#OE/=.2XUOHO6 M"-4_CHRZ"OQWVB^M#!R>.Q$FBR;SAO?`;2W5"JN-BIPF9=JP4;M]!.E0X,Y& MM#C*KF/TXB-FZHQ86U6+X>`!Z4,LTN-@.6S7!-PFK)0N%T?+X=DKA58E`]\4 MKE7W8"X2?^(6S(&,:$G@$EKX,'J&_;$BYB:-B?U-)C`&"X]@"*0@YA:T]&"* M'"G/*R[#<]D7[@K5%%%J_)$P[?%L\D.1._"3VPIR@NXE6])'EMBC']QQG]Q% MJ.PE8]D&$H'#&RO:%"$"&R'#-'Z29G]Q]>O'+P@<^(`!9=]A5VQ_O?)'#=#/ M`D#9^VG@>0\GP;V? M`8WG!#[77W`X!\`+"-"#2BUS0Q7:(.DWJ5\U]>O%Q1=F[L:AHM8R M(0.H29>=.$7#?7T&BL9R4B$:9,@S`2JM2YCP/HLN-OW^*A+B.C"`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`VKNA)7,[C]/K<$-:H1$OC\ MGJLHH(LN8+KJ7U%%OU,JQY_^:E5OA;*K:ESR3JZ7''7/H6+@\,?9+V^M35A_ M^=IR7W![`;,3P+*.`=GF`FNW)(G5P@Z M`.DBPKN2I;QR=E0I\S+P[T081TD'U71#%VJM3#VJN.6K_K*QSDX+,+ENE[+N ME3YT`RRC.U0\#04WOHK<'Q:UM8TL:A=?TE=1=0YL4@`V-2]3-9YI2)])NI9ZEGV/U9PU>Q?L1GU MJT]!=,B2V8=?XS,[M1OBJ]Q2VZ*>VI4]O&M@_+M8Z#,ZP8T:$*"<9(%X5,D# M/NA.G@T&;-C!!>7B);-N--9:^]C]B/N#S!(_[D\.F1IGML"9XZ9`57]NTXXN M[['-;BA;5->=78ZVL\N'R42VM<9VU=A6/IC(=N^ZVSN-/Z-NWJIM=;IO[2OG M]:MA]7*^NEW[O-=[^CNTI9>PU>_;SW:_=W.$M]WM6-K<]E?HV`V#WSL?XT7.P1-/6G83A-A>AA<86[`+L:O$YC#".$M M6W!='\81^[CAJTYO$XPUCK'3MEO+\LCV='>V7W&[V3EP[..>((_!(TOK+E<. M])U.UQYL#_KU[OJ!^?K%#-GY_SF*I0\=S_%'JN7\B1%R3[-@O#W\B"Z>()Z* MT'+&_UY$\5/GP!1$"`\J&)94F,G:/8XL5ON\=4`1Z3$+;9^W]WM%]W`-KXAO M6K'SPQ(D:1\1"^W:9\TEJ+$OZ7-?;*EC=\^>T7::]GG_^6RGV[1;@R77NXZ% MK&:0=[V/>A\_31+Y'R*6IC&R>XZ<:(HQ=?=2>K8M7Y"6#=Q^+TD'C\RML\_; M!Y2='UOY&03H0YKN'K?:IMTYGDS`0=?N-_L[OIG'SF1W11`K$=!?;Z;>S`ZO M=YW.4*=X8LQB&`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`(%WG<:G\K18(/L?;S;4]Z-G]?IU5=)R1J/5FZLW4`<]UP',I\:X# MGNN`YZ*SJRO2F]L8;D:D*A4,[%`,&L7N>DX4N1,7\&02!C/K`N.LJ&QY<*#TS'!UM M:^CQ,4&FQIG*QQ[OFBE4_;DZG+@.)\X%)EH,DK-VJ_TVZ:,J?LR%'SU)??1- M8XU[3Q``N.--G-FM]I)PS./8!-:C;3VVS<#3[Z*_O'[T<4FX/ M>N?50[6MPYCM9A7#][<-#6[:W?9C@Y2JLYW.P&Z?/1;9UJ,(!Y8+-J(6GG`B M[))])_S%/DC%]B=DK+(JPF2]W&K>Y?:R@L$_<_!D"=@K$5E>[Z/>Q]-E+.SA M#E-60O55:VQ[-7B";GV[CIFW6\L*KQ_'+CJ=Y?G)Q[&+7A+!P0M_U;SD:V)G/P^`'#>D]6"\'G48GF6\&+QNU MAN>A.,&V;;)Q(GIU*()K`00NS)=T'HTP'@Y#B5TN0CP*?!^=]C`B+IP"CF'V MV]"984-5^/E.A+$U%L.88T9@-(<&@%\G[@\J)VDX(J)&=8]JS8K.V;;19DEF M?.HR0.81B;%-.X,_28ZE@D;7,?S#9A88109&+$ES6)I5T,)G:0[TK]:QWI6( MD*UGJ6=Y'K.L+7)7/;ITC5COX-;'RM`[-BH<+:@`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`&V:*YGSTWL-: M!U]`^)!:?@0J%!3E;I\6_I(C/_CHEXM?/[S[^N'B']FGL[1RXLQ<[^&-]=\W M[@R#Y,2]]368.?Y_V_2%'0%H)WERFTG&7Z>*9#.+T&"?)D7_AC#^N!4+_`P`.-$]-Z-1G")%Z&X`2KZS@M&W_^& M(_]%<2?Z"GC4+:J#?P2Q`+@E3W#2?/DS^?7@*CXZ;OA/QULD[3U:7UXN3T M]%OG\O3T_;=.3S_\\<)Z,8WC^9O3T_O[^\9] MIQ&$MZ/RBO&A`?O_GUHFU[M[W@X=I^5]5*\U0 MSB=AQRG*6SH*R&U!^$:)'""1&*X0.AH@9(#4A:0[X=FKK;KJNETUDKNVOCBP MKF"H9L'3M^CXK=^%@]>.;F;YU&M2Q\J5LZ6-WM%&770B35R?W4=<%]@=J8+$ MP<(;6T-L\S,2<$60>UF1P!K$/LD0L8UR1HJOX>E/1&@YENANTZ_L@%?NXF])>&O@7Q)W0\6.,H M"$/AH/-0>QYHMP'H#8 MA]0\Z_GR!2[ES7(\(E)0H^?SFG@/+ MI3,`3)%KS9Q`P_I$<&P!8`!1(BH'#;_2\/0$HB3PYQEAI5[2?Q8!PH30D\R< M#M=.Y)DCVJZ+AA-W!"=+V!F]E7.UY5R,HH&QFDC7X![#NA$FZ$XE9RL*Q[#T M4`."=HO;?TO0YZ$[2[:Q;&@_\$]R`U>X!#:NP26).,'R3P:6_ZX1,[8,0@H' MYV`9U45(E_&=`ZA'^W.K32*75OS&.^L47_:9`8;T1>?K&6I0#!$42'3A$BX1 MTM\#Z9T-16C\W+*EZ#X"W+H-0M(2&,/25RU#$,8B&H7N$!LCV;,N" M=YO5**9R)+CGN#:RQ)M\+!NY-&V< M?XB8-)"=F"O&/#/K;+W<5?*NSTAT`MH2B''O0 M<,D-K$3^1KV/>A_U/BJH&>VMS.P1RNI/*>76$'Z.2]Z/ZE,+*A7)GZDW4F_D M9]S(>M+*P4TR9>%8M>.F?JY^[BC5D]IQLXJRH'=-ST^G:[>VR. MFW[3;FW?6:2B0D+MM]D*W;?TVSP1WA\9]+=?[BKX5F>EM=_F&.W2]3[J?=3[ MJ*!B5/MM=K3DQPFY-8"?XY+WHO@N][B=O^U(@?P3^27A\Y4"^ MB9)J-E3OSPU'H3.)N2:/"&.JOTBE8R1FT-;]U-:I_(=-&TRJ#OUGX80QUDBR M82Q_@=]1A:7[J?`M<0KN8"F`7Q6N1'.3/P`_.0,W,LLB4;M<5:@'GZ>B MC`WK8[H@E(<\D38H_K-PYU1)RDV5(>+R*C"1R^V4G/D\#+`&9ZIDDJP0DXP\ MDVHP),+:#(%$&$%2IQYB!\6.+>+D*"K(T0OZ<*80CYL1O-`Z[3 MQS"QT_#",KJG8R,ZU7P!%`#+MRYLL`KU3C\8!D:L950;'5-KI*5 M7AHK_:@J6#')OC!6"T?VD>Z)]4'?D>O`&R-!`L0"\O&>3EN,&\=`T9<6>"+< ME`W3N$3;*"G1-C)+M.E:5W,=07./MNR6.VS:A3@J6>I9ZEGJ6>I2WRM4:WH\#;' MK9:8")V'6V+]7(V%NUYB33D.O4131ZW>':F?V\DAOQ>@@(,N3>:BRJ[R4EE3 M:^I!JWD7!-^EN<@Y(%_?<)6)'Z)ZUZ1^;B='C+SA,WI=*KM"=4O8)E>3CXV* MK*K,2TLE7%;RF#?:DF%>/_[-?!7*[S9BA\[Q;^G:\<0SV,:S0C/EP'BNY+-^ M[D!XU^<((J-:]?2;'OG+]61H/-!09.@#:9!&\0%"J2 M:M'IM!H5Z*&P93YTJ]=L]->?#1]Y\G3H06_9DBL.\%ZGL40LWQ>\=XPTK<:Q MI="WSEN-K2MDEPA$^T\NRY'$J?#&%,<2@=R]!U*XZ6$8%=;Z[4.2P>T7VFGT M*D0\MMO#J\%98U`]*K+E9EIG2^]F79K@<VW$<@00F%._8-P#3:UF29;>>6>9U63O./%(DT]WL(S)5M+F\R12S([AWNYTGT`W MKNV%[6:S%BHSSRW!CVH4T:@W4V^FWLQ/O)DBPKN;*CK)%W\Y740GMXXS?Y/4 M,(XN_#&&SU+TX@W0Y'=>,/K^-WS[+VI^^@I6<7LKQIR`?G*2/,'>^?)GU)QZ MEO=N-/("++<1Z0FI,@+\\55,_OKBVOWQ.R4Y?\`_.^7#]8TGGG6ES_??;JZM%ZGKZ_>6_]SV\WOW^R6HVF=1,Z M/M3.-X_N;T]/[^OG'?:03A[>G-U],?.%8+7Y8?3V+CS<8X M'K\H#TW(;[[5M$ZLM7:^G_3I--M-E81)^/J35"Q*E04J'04N91"^47?LK64: MZ.E@Y@X6T%B6Z]R"_:QT^W@R2_SO7-9@N%S0V"+',36+42_'0`6L(/!151JP MKOPH#A=)/%_ADHJHQ385M9Z@H,8"*X3$J?H,,Q%/@S$[0YPH6LSF7#,$;I:( M8G?&,318J,&HGS`V`#@)N*Z%KM<`KVHH+BF&\-3@P#50)8U+)YK2"NFO-Q;6 MK]"%?7B_H9@'89Q45QDZ'I8%LJ*I$%P@@LK14)4B_(">=WA3UY>@"C,_$)A8 M2@@+E&A85K@"BX804M7(^JI=9UEH);OATBL^/9^XVBR@%PJ;=,4?Q"$LFB08 M9HQ#@)0`1<=[B("\R@>Y=`W7_X*'U7M6B-`\!O"]%\-8$1G_MAQX2(OPHGF! M?WN"]9'@3OV`'>-&8?M#JIR4`2/M-@/*+!AU82`L&L&@J MOO4`W,M7APQMZT:-0C%T\ M_HF#%5]X_4=R[EK0,P_]HW%;[K'^5*IP$Y!H*KR5U-2R9L%8>%QX;!&['NP` M#M69!?+TV84=3P&N6.5J$8949`N#<@'L-IZI`&A8X@=7-R,R=1=X#HX5/_`] MHEI'0*8\=[2B2%E=Q*:JB)=B7%R1+EOY*%(7MI!;ZP0J/:19$XOV6=ZES28J M[T12MEB3]3_;:C^]_#&N%&V/M^)'/4L]R[YG*=*[JI1?M$%^S$9Y64B1K<-+9A'\0)BJ[RBPX*[S4G0#T&=V&C<@)R+-4 M+-MZI0IE/QPRRGM/NZKW]+/MZ=GWU%N&?)B]WKG=J_=L2SCR?5C=G;2:6)'6WAZ M@K1E,C$LOFL/>LWC/0.]A1T3T/W'C?Z1\7;LX<9N>@1F0)K=;V^=P7K(E;;@ M!G:/8J7]GMWL'S`;]!$K[<+I/Z\T/G*F390SS7J5,$X:-5J@W`8_(_]D#Y8_ MUBX0>H0])*,'HPO`ZZ?@LML=Z:MVS^YW!_;9V1/$QNYK2WTD_':[<_Y\MC2P M!TC1FA6LVK#MEL[L=A^VU>]9QG^/W-Z3<>WWV29C%6/;??N\>12-X8]HJ8?N M%?Q4*RVZ5'57R+HK9'6Z0EZ1U$9J4\K:@>$)+[OM5J.9C"2+QUFOT/_U.OD> M!;N7W1XFF!4^VWR];=?'HJCMI7'$NPS9=KW)Z,TU-K-RXX?W@KJ\19]]U5_L M\YT(I\["^\HM["[\,57FO01)-IB)4+WP?(.[6]:)M6,8U6'@50@#_\=!PL`5 MUE@*"S#P3B&.;2G4L23N6+KVM:701[]9OMR-Z4P)>SUT!-D%Q8>M;(NH83B6 MD##@%N;@-I)PHUVJ-SCR<13,YJ%+T8^3GSQ>;-"O1I1-/JEW!LT&#?,'MVN.^Q/27$U^LN0,X-GP` M^2"*A-B'*?!QSM'S9LL^ZQRR7/3CEMOMV:WSK3UD*XP7^[,)9X782IF$^\V! MW6TM\9#L>@G;+[77Z]G=[:,IUCO_`Q.-M"ZC24>E4*0U:-MG9T>!(JUVTV[U MMZ['OC;K/JY2.25\OQ)UV9[+/IZ,NU2SOES+[I^U[5;WD$V_'KM@H!V#9>$/ M/R7MV-6]JTL&[48]VD7)H!W[.?916>BK\##6ZHL3Q@_D$G)&5$`D<9,]7U=4 MVZ@SM`$<:G=3%=Q-GP[B;I)H81%>6"9BE,]>1%N.P7N$:W#SF[[P`.FY<25Y MA3X*$;WA'=#3W[@^S)P>C@-`A"BVHJD34AF#VU`(*DY@Y$C0CF/GAPVG$T^M MBZM?&]:OPA>AXWD/-I;1B(3QIC4/@SMW+*BZ"=;882F6,SA"0=?Q_(_1"1R[^(;L&CX&F-/(W?LPL)%U+!P6UX4P+X>9(D.\W=X MF::`M<,,$X$UAAAH,!A<=N>6UF[!9;]S1T+O@=OXC$08.ZZOBSG(\-;4!*IB MP[VPA!/ZYJ`P761-PF!FQ?GO4:31I017%0 MR9-[)[+&"ZY:`K`D"D;'X@6.;T)-`040PYI[CN\3_L!ENP,"3[56K*G#,$%< M-[P(UX^VCY`YISP/8K<"*O,6!-^CO*H7@H,4H`\/IZ/ITMM(=XE5;2\ MAY+=S+T%H/YH%"[H9+D&SC$9@7;^)10S=S%+T4PJ]4(%E$*F MFP@>@)\D"&KC7(0ING?FFAPH6J&CX/G7A%@ZRV(`\#(BKOQ.-;F`)E_YHP9B MS/TT`-I[$MS[DG;F4*AA70L^7!*>KBP>GNIL6QH,1B[T[U292JXJV3H"AT;X MK7@$([#W0E_^Y'6B12CD(`FW%0F;+X`X87\@5X,]GH+P<3N%O0W#X#N0;]@B M'/H#TI81LRL%[CG0S1&1&,V.$F4_&7$N#Y)C'P!_!_G`-0IJPUYCN5\4+8[< M']:,)&Y+Y`5%X416<"GPS6AK66AI=&USUH)??;=K-S%&59CA"XK7;;[G7W'-*[!W:V[(Y^F$S$*.8+.3;,[]AT`.2: MT!G%$=]29=?]^`5DBSOE<$H9PNDYM(;OXRKOJ:)'RVXOB](]LOHD';N[5%$Z MKMV<+ZLP=61[Z;;M;ONQ;6"?GI4#74C(A$$BB#K0#,M)Q)ZHP_8'T^K;[<%1 MU$-I#^S6]MSGD"OM=.RSSM9Q[8=<::]KM[>OVU-)COY)H`\W%'?"7Z0B:J9B M?$M!"A.^J)Y\<"3<>1P9_+U2]_-)Y,1ZN=5<;KN]Y[NZA_MXL3303FG"QR0Q M-^UV=PEUWY-@]@@6;_=;@P,N8%\2Y/(,E?#;8&>R59Z^^9\%&N=RR# MO8[C\K;M3O/Y*%6PF[,E*'9DN^DNMRX=W6[Z9X_=S9,Q[>Q-QP#=2HG%VPM" MAUQEJW44R^P=L*K$]JOL]'8J_.Z\&.JSC2"MRY(=ZRPE_*..2EL6K7,X$F>#&9UD;6- M8L5D8SQ/-\:K@\7V_5S)5=N_QICKI6%;OHCW81EZ5`P+=JIHG1_0-_>XY?;. M[-8R"\\ND.'`1D09ZQL[/\BNP,G(6$=FLFHUSY87 M5:JVT>I"IGQG?4QI)#LB!&NW[/-E1H\C0R\LV=5[;*S9:G&I[FM3][79`JEW MUM?FFZQGDBE5T>XG`^CB)LSV9.F1#3+[=]G59H.J5?LH'G89S&8N=6#$XF67 ML'>`A?"QEL+/4#^L8]0/VPP4=0FQ*I00^_T@)<0,S*""'BG<*%_`QE2AA!6N M6P(DN[EU/WFR;LNO"P>.*!9FL9;EJZS1%3EOD0J7?7L3QT)[DQN@8NC:_;=[ MO@J$#VQ4XO)`";YDZEU-G3MAW:I?QUC`C:NW80P:\ME01.YXX7AX2@NJ+-7F MNF.ZL!GPYJ0*C>M'L1LOD@)V7,UMX>OXTJD;ZHHS5*>'*KHUK!LL1$K*,TH[EQN$@?$7PRXZ-U323RU=54G2M7,6\CH6`?` M-X^EX*++):5>516*LG,TK(N89!D:6(DQMJPL!U+28F8!6PP%[7$.K!$('`!^ MI`F?K`0GN'*2`L=8`H.&!;RG$GNCJ0%L+A`8+'!;6(=J@NBCE@D[_+>@SH.% MD+!I6"QXE1'FNH-\<\*U9+)B&3I/'0J(Z>9B<$UU=D=U%()CN;URNJ/1CJHJ M0`W03RT]>TM MH!BP="Z7Q==EKBHVYB@"5;W$7\9BXBR\6%T,64QRL)^L-\%,47FI<3S^?R,"^%*%QQ/,8$Y@$G]!WZ'F9FE@Z9L74VL M$3!'0`#&:K@*(H119ZEUZ%0NF]:J>)):,\W@YOC`>9X+8-'7<0"$+);U%6,/ M+YZJ-9JP,9<8-L#X/PNXUF-C808S8X1.7U)9GC:YI)L<#=*@/13_>ZSD_PD8 MOU>@UM0J0,V,<\SXHX=MHH$E>T!>X,+^+](M_/O>>8A.Z"_7(7$7OALBT?CD M@A0IQ@4EIWUG1E5B:3[/N8\6+M-?-%I-T_:)7O*`A9G^>)\=Z/8 M22:2RH^&*@O3*+U/7(\E(594@'1R.6SKS@6(SRC]GG[RT'O`&E@=%C" MU)VX\/K8F0''(F6+1PX#_W:R\(#S./'49NEO\U'X[2,7B07!#AOC>@Z"@NJB"ZZO/!18NI=` M"(-_2X8PN5]('!\`:43X,&= M?K.UF7NF:J846ER$\&^=V^2N`$>./188?'$;`"9+J17+30LXT+N$UY$ZCM6` M8X?5.A`KL2)*Q`(H\E6Z:2R'P0J=.\?UB&;KX!&CB"X^/P:V2>P4B\7?(;]? MA&I8Z?>C@7Q6#1.-4@_(")&Z-"8^J$N2P73CD2P^`Y3_[OC`I5/((KLFYTN? MM](5>>TT3EG7"Y`&L'SZ)9ZAPL1/`5`"X)`>P.X2)?D'`C@!>(BJ/Q:+%^.$ M9&%[94`D7UT%X8#8GMD#RU%,]T!*<:GH?`R'#6-/78\1CD=Q0;CFV5#`22XC MRBFL6BC4EM>32GQG\0'129T@W3:%P+MA=YI8\TFMA6G4%&"4 M("H+:JRXF&O$#8,^09$*6%9;2V$&.6,)CB9T4/F"TX+Y!!<408*R8+J4*JJ? MJ'KPM2I`#6@`.A;=Q@`.7?9)P!K_2*PF7G`?/=[A4Q$]0[)=:HO@)`T?E!U, M$3W?O&@(70`ODB$W0CK(4C]`"*@B7#<)YD48"<7(@(LA@3=/V3CA\L-5,RGI M7)TK30'KQ+%+#I0:[:Q]GNOX>A,?W6:>H5VZZ:C]T#\!$A:J@S&!Y@?^<+S M=O!*'2HC@]NEV7X4=RG&ON^)G3I?BK2 M>"%-C`LBH$!.T8A!Y$](\%"[D-$4R:\V!RD2;07#?[,0Q'1?$QOQUBSQUH)4]R(J\?Y.$1_5V86O`,C\YBUCNSRWU;E#D0KD:VK.I-1X4GND.I&,PYTU MQH@C^A`!;V&0B0BEYH1WG<1Q]1I@)VDM$4I2(-L(>@-]AJJ[E&\\D5ZC[`R.#KV M\AK$R^AR@TIV&$312=Y%HVYX,N([,7*0P-TGYETT&0<>6UJ-'E.T/R1*H!J- M'++_NC/@O*Q6"'@MF+DC5DO9X*NZ&YG;M-,S*8DS]0R>A99)QZCGC.UE.D?2 M3"71&AV\VJ")6!.0#4C?4KJC03K).,VG97JL`)[L1,J8Q5M%W6MLW"$#)_/X MH%$0&X=>5]6VBH^BS#&48'36:H]+`]DX4E3+W%'>F-_*6_.5G\N-E#(]=%5W M(U_$9.G*^K5(F]:T!BFX6A9OAW`ZT7.U$T*>`\-7G47YIJM'8?\(_).O0NIA MFM-8UY+='0VU'9%ZM9"VI>3F(861%`>('B/&U:>/EW"/X$#S]%GWKF-:%:'0 MYT93EF:8:6JJEUPH@\%R?`6IJ`8AHBDUZ7S9.<]TS(/GH\60=>,X-;1)2!^T M@4O^F;2(:S7[C;SSD^0:5H/-6!?;>GG6+GI<7W:X#SY@1J@P`U:!6V`:74;! MV;9&02=TT89!\#VY9$!@NH6=L\I)A")WVBV9V(P<-JE*@RR0@Q"=VKX`ZJUZ ME]&M5H!*&('B`'S)T8'*`AU9]:+,B[9DNK*!I34&P7D4*]G.8""TKAEUP$PQ M$8=-2\F9:3EO\#8JY2NV$JJ=812$0QEQ\^\@=&/M6@S=Z#N+OZ&X=$Q=ND5 M[A:F6FR:%S7=BLYL0W&52YUUTQY'%+^88?:&T(_)S2XLL MT26T!Z.*!BL@&8.%%30:8]<_.3\63Z34UEL2!![HBGCHH@4T)"$1`U7"A10E M;@!33'DL(26]7J-;3$D`,`D=D;9XZN990BY8.8M2)R,=2&;<&L?#))4=[Y`B M1\MI39;.T!P)K3D[;YSMF-04D9E$9]T!J2DB,Y)V[Y#4+"$S>K(*D)K'RC7? MF)A\)F+RX?+"D&W^*>#^>$N46TTH5QIHAD5(J(4W*9-44$YNW M`YA7E>(RT[13_^])2F7*!.KZ%*5X]B?2;KX[6\78G1[QC)%/#E M!56S(85B`U*5D"-)9M*6BYJ2:$KRV<]9G]@E;LAQ)0IA)O&!0BXH_'<"=R;` M43L#4]!BKRIY@"8BU(>"(Y&4)U74U-F:2R/8\GGJT.2G;HI;A?A89S@S'62\B9!]9\B31 M?9(A<3]):GS/2(U?8_]U($X5`G$^'R00AQ417X2L@WRDA`-BYG-RWTZ%QZZ"R/'$ M"K&S)A7KD8H-LI"VS1`"]K?E!7IJ"K+KZ[9F02$2[]#G`E+B_Y'5I2@!5G>R M->Z4LM*.4$K$,!HEOB>.,DP=<7V*U\:L(!!ZA>?.I`!NQL3HZ'F6*8N6P,*^ M7,;P(0/#V2A8-L' M)5IC%O?<>KFZDPL5C3ADEX9A/2_9# M2WG1>'1VM^DX)_F^A/_<S97%E91K@*DX MC4BI5P5Y,Q)70Q4[IN"O-IVX_CA:H`"386@=Q*LSYHF_2/WO,E$?+DWU03>I MQZ%E,-YM%!2VC)@FGTNDL7FT8Q/XM>CL]+-P$O:U=PO!4LZE9N3R4Z M8U@<^B>U,HFJ%<>51++$1RCTL0!B*\A)-7Q-4J>U,'Q6E`%X)P\5N%8DLUX9KE`JK>LX,&WY%Z8S$LC MLB*,1F2JQ#C3LDYF;[0)*92.%A0VGUB\U)5DJ]N&"49KZ-?[,&M<+X81"-NP MZ0]WN//G:\SH&\:,TEW7)HPJF#"^',2$D2"!15A0'2/&SC*(_%QR>=O0-JBY M@C+8.K`XO#.:Q68DG`L17CIS[I]MO5+6ZG;S+?^@OVB]?:WC4?@GZ[?`XP3[ M/QK_;'`B$B%WE9H@O<@AC?!!<)<#]/,D__B7CU60E5 MU%`\6D<@`4ZX\%U^Y,_K]R]`R1@!/GO17U^<=%[\K=,?G)\#!Y-^I(,LVP03 ME6=8ZZV;)#[C)L@\_YOPQB`H7SN>V`%,VJU^KSD8&%#9^2J?'`2MY2#H`0.H M^/[IJZ])//6%/R:%@6JQ[N1JM-N]Q\-@^3)W``=CM#_G@8\ETS\O8)R+I,[: M8[&AT^SM`!M6+30'BZ_:OI)#I:+)OAK^DX]A,*.I=GLM!F?]02<+B1TOTP1# MYB?SU;7FVL66^]W.F;'EQR[)V-XEL7@14DPHR$F*Y7P#"0R&GPBL;03W)0'P ME2^-FX_?5ZO3:AI'N?U:C`U5F]6WSULF4SL,@W]BD*QB<\WS9N_0(&&T^2HX ML1N02Q'`FZD3_Q%\"OQ;$?XN1/Q>AYY]GNR6CK7;'6/;CUV0L;?EW.XIL;_5 M:IT;]WU/"S5`\8>(D_(.5S['EHK54M*^]G\.8FTK`<`NEY>VGV(X[94.*/S3 M=V98>1DP"^VW5(W-W(WLG'H1?9[\J]-Z+T9K$+)VI\DZR]I3[GR%__K3E\:$ M?^%H__J=NMLN7W=W<"X)\.'7O293!%VP]<0KW`JR[4="EN[^93";AV(J?*RM MPT0QZ2`9_;\%UD'$P@H7T6]B?`O7Q/GQ@6(#OI!3'-X(\3H`AH3L7'KTI3WI M-EN#=FIC^UCI@6%!`67;0*/5Z9[UGALTMN/@)ZWF>?_9P:(4,U9!HWO6K`HP M_O1#*4E)(_^OCNM_"B*0*J5RX8*XP44CWY.)E&>#R7=`,?K]M<#PB$4>%@K; MTHK!^?."PY9*;JO[O,"P+8$X.""^4)$R$&*NT3GWR07Q>4S!15]D];*1V%0, M_O#EVMS6U1\?85_-9FI?:TR[PW46P_X`Z[PF'^@5.TA7R^K7%&7UKXM_Z5'^ M1.+?\7OG:S:7L?LGOJK]D+;QGCTM?H]X MLOO%'Q!C]K_X0T+^_SLY^1@$,89X8NT')/'*3^ZY_OA18!SHQYU3_/D4'WSQ-PYPXN&]8)0:%?YV MXB!4@X(T`9O]KZM8S$Y:ZDO/&0H/-DQ?_LL;>B^LT]2@:LT787IP)QRI,>#C MB@7+)TXQ].%$C:A>QX#9]`KD/,%?7RAPXH)E-%RK;(6IY<'Q!(MP)#:!:'9A M$C;F&G[,//@:@^Z$?_+G-<+_(MMEVC(+:%(C:MEE&D.)N,8""'I)%PR,QTAM MA#'F-(&UL550)``.'.T1.ASM$3G5X"P`!!"4.```$ M.0$``.U=W7/;-A)_OYG['W#N2SMSLNPX39M,GMQ>)P^"PG] M/)7/D.2)BG<'\RA:OAD.'Q\?#Y^F/#QD_'[XXNCH9`@-#Y*6;YX$V6C]>`)M MCX>_?KRZ\>=XX0T(%9%'_8Q*=6.B.W[]^O50/Y5-!7DC-/T5\[U(:ZF2+V1M MH?XW@&8#]=/@^,7@Y/CP200'4@<(O>4LQ!,\0YJ!-]'S$K\[$&2Q#!7C^K8$Q:4=(.^O:->'!#Y MY+L#\[JJN97\ALS?:!"J;9+Q32VEC.N]<.:)J=X0I7=Q[WG+H=+>$(>1@%^T M/@='Q^F^^$WZ\V^G0JR)&'I3'.KQ5@^&>V!*02QW#O7/^S]B\N"%"OK3:.1Q M_BR]J%^\,,8&GFO2K41:LXM3OBF=QWT80/ZY82I%#R1M,13Q(MFD!A+E!=#/ M.%MLZC0=B#7BFO$`<^E.'J!82&;84@VD#/\1*_]0/]D'6!,L(DY\:=9F00PX M59,X!E$UPRDZ+[I#I[@*JE]^^\0B+";8QW+L:8@_8>G.G89R/51+C>1,_G!) M'W#BUUW2"T+3!S>257$KQ[O"TD_.P])QWP[AU[%D*=`GKDW#:\Z6F$?/-_'T M=^Q'MVS,3Q\\$BIQ+Q@?+U5X*5<3+8<4US`MFW?AO*`?.!.F%:A-)WNSZ;;0 MPNK51MC4S%_VVLQ/?1E**J1P<(ZER^V3C0"TK3U8N_UK6(A5_-1FOK?:S.#8 MJ9VAG>92*5_M?*>_"%5_RLM8JEWI9QP&DB.U(9GV[K+6#NF\DM=4O3^XMO!( M4V>"1-9X*??<(94;N$N5_./.;5A/F\SO$M*C&LN0G1O56(O"(<76XC=5]6OW M[)E+CB/R@$M,.M_$(>6;&80@^<@]=<\PYSA((XL1$Y$P>^'6ELXIW\(G8.!< MIN**>%,2DHCH67H3,?_SG(626:&VHNC9`$8UR3X$D1X8BZDZ&'A6:X[D3/[" M8QRLL3N*.4\.8#XQZB?_,:7Y6G>U-W.L"R,8:GL1P9([S.IT8P"WWA,&>496 M;(VM>@.;D7M`Q+GTRPV65J,"HJD)B8VGO4%@@VO0O',9@3LJ2G6?>]X;[>?X M!OW;H^M]67X\E;Q))R"RFW^A26]0*+(.0'R!!`#CLD>:+'[^49\'`NY;!V#JM/'`QEI5=, M"%WK(C<$<_*O60\NX]=4%L#5N83&!$<>H3AX[W%*Z+W8.&^?$9^8/,HZ1`ZC M5X=]`*Q>!L1UA\W4`B2LD5IX.\P5-;>L="ZI[(=RYQ M)_@!T]@8#F2/]C'U-\M-1*+#E5[3HV;-H('U)L1[FR9YU<-T:,(\3),.LS+U M2G#4&WE8,2EG^`>Y7HWI*9%R>[-(EXG6*,NI[,$I8%I)`.CLOKCDDD:88Q%! MR85)_\4V[FFXR"/HT+GD2N9(74BYY/(O+2&6QI!.7[D=G.$9XWB5AL#B(Z&, MZS<`5U)N]I+L?A]Q-&=!5H1M6IR_Z.A[LY,]Z#ASP\!$HE(Z'L\SZY<"A4U;#!@E`B(J[=A1+4 M:A(Z#%Q-"0`[Y\I^='K@$Z.D,K*PMG07'2O+`$>]C-)?*%PWJ!1T9<\<[1CZS*/@+@@WO8#N7@UE)E]K=F5Q09\9C26M+E^$UL`M0 MV),=^YI6*N072A;E0KY_4JM!3,0\B0J&ST[?;<6PHV:=>O0%'9CO0%#%7;M'J)IC.3ZV*PK]CRNE`/&&"]>@*' M=[!MU`T7]]0(IW;B$A9N5`5'\&4[1U#VAW2';KI_$@[%XC5G#T2R25,@%^S@61=U3N^R'Y$P>FJAC3HEU)T4/\*F4"_.RQ2?/,9M/[ M#,:S3XS>W71QC4%55SV#<#MA`5OW#H-.%XQ'Y$^ML/$LN4),*D%?(F:8F>7- M>X9IM4!P!Z9S!S^;;"LC.R="WZYUS?&"Q(M*[(PTO0?0*!6@Z%R!;+:`R)5E M71`3>O:V?43-+@V@M?L;_+7C"Z=;JZMH*M\DJD76,TSJ"P;P./>V;O*V^'^) M.M5/#O@-L\C4J&=0V<0`8-Q+#*3E1+Z4-8E>JJNE#&U["%.)-("6/=KNS-N' MQ"LD8B]I\\N@F_?1,[A:2@DPVH/N?3GV^;3[):US_:JY!:G@>PO. MA8+FSYG5/M)O1KZ_`^864JZ=@]6V"X#9N:N[+$(DU<8MSV*-Q/N)P)[UH;B, M&7V)+L?:59+L!K%?^GV+NH2NK4DEL&616CW1P&+MKW7NRY&4O/H8![I"7N4` MQC,X2KP.O>3#TO"FG`G:)M1]Q+>)?`"R?<_-!F+1*R=NNRQ[:P/9"@XTX M=Q(/FY'D=UU*O275T5.?%@<_].7=TO\[TVK92![)B\YZ#5A0( M8',N07.]P2A8FZU.IK1U'T$KDP1SH:Z@<4+T\_$B.0`#0>FD\4:1#V#HJY8@,SN+X$J82:*.6T,#!!] M9<"`6`!,S>^G;X.,OK1HAKF1Y@:"0BXN??Z0#%AKM-D8'RUS@UR%#U# MLY9,<`_.4;ULQ%>0(31J;:6&#J-[V_KC/:5OQMW,/2[Y2`MY;MFUI[Y@K5Y= M]VC^(W?-2%VSU#HECK6%@VSN4<7534MI),H%VWMBYH+QJK7'WM0U*)L=4YA7 MFQ]?[@ZZIK<-R]7E0OZBOZR7O?MA+#5NWH=KX-69A\VE7+WX7X*J&53+)1I* MQ`F>;:A)D,4RJP6U87WF"2)4I0->>CQ];4?U=C>YM-R_8:(8EMWED;LV(_VU MY(8/TPAI5^GU'E($-$#J[;"0B9AC^1]-I.[P,#'67C\JQT.CM'98K;&<4?FG MCU,HRW551=VMWJI&R^OP15Z'20'*V-CAA%R?AHQ0!2',A-$D4,33$"+N3BWH'AF+\(H.+T*O3+*+N% ML&RD/`ZO\C@4M*G(]1S<8+6]!M6QX2HFK%RI\JV[U52^][QV?LAK1Q$@`S_; MJ`-N_ECW$:N48J+I6C6F,?(*^K&H("!#!MZVF'>P]'S$GAJJEO]D(>IXMID' MR6OJ=6&B90N:D;T.=)6-)U8W6GCA)95N2-Q,@35ZVI%6:XR<4_7Q48FJU[I3 MWOZJ0V22I3T$CY[5/SM2(ZFQT7<[WI MU2#[C$&YLG*-N]50KO.\6@KQ4;*.%;C98HN*IP+_$:L/9#W4\06*[3O>0`K] MYW52B%4R$K0;GL9Q-)XEIU^&7'7&62%.D(0ZF:A)UP/6`VL>]NU0=3KU!);_ M^3]02P,$%`````@`G(,+/XQMO$M]!0``TS<``!4`'`!I;&9C+3(P,3$P-C,P M7V1E9BYX;6Q55`D``X<[1$Z'.T1.=7@+``$$)0X```0Y`0``[5OO;^(V&/X^ M:?^#E_O2?@@A;>^TLF,G*#<-B>Y.M)WNVV02`U8=F]G.2O?7SS8.D)*$I"J7 MH*%*57'>]_7S..\O;/?CIV5$P#^("\QHU_%;;0<@&K`0TUG7B84+18"Q\^G7 M'W_X^)/K?NN/1R!D01PA*D'`$90H!)-G,!Z#`:,4$8*>P3VGIJ/5TFDK[W[79T%\Q1 M!%U,A80T0%8KI;%M_=)+D"3V]><*XLL=>0O(O[Z^]LQ3)2IP1QA@(Q9`:=[0 MWAE`KH3^Y"9BKAYR_0OWTF\M1>BH)09@MC- MV)RC:=?!9!HH,[[?_G#9UD;>]2'1JW#GKD#B&7H#W!O5!!/$%NB)5?:Y]U@)UH&_': M"J;24Z*>E?$R#1P:]7HJ-V01Q!4A[VI_1[QH"F,B7PTX43\X8K,R;H2B">(5 MT:95#XT4$E(-GU&PJ%3*!;\G'@P&:(HIUKD&G(TP16`H422`9!N9F*EF38&43G#U0&(=8/3D'9ZD9SE?)+R%$6)!B073N93SSU9@%GD(Q,:NL MRN4,PH6G(>3C8OG\`)(J;X9@IY=:$=,3J3 MB$<#-)'W:K+>$HL0;Q^GQ-`?EI8E=Z["OS,$K&U/.HOSEM!.S?>`9 M#Q%7'=(Z;KP,]]]$U,!D`'!K,H``IY!IIA/6B'Q@"V\I[(-4E:X!_8/REB#F M*-2(;FU=RX2>*7G(T-_M9;+BOLAQBJ(_6?F7\7\@+NG&H0R1M!]M4\E\$Q7S MV*DS.'4&Y='>$"C$E^F=9,%C068ND#^2'J&`@0VPBU.CT(P(>FN?_(XT,E^52C>F! M\@,CE:2+W.HHN>2X5L62D]W3]0@Y]6__\_Y-]_6FK=^'>$OPD.%C]BD+4]D. MXLPNS2ZPC9-+)6MV4#L!8;[\'5'WA%`+VIL(R6$@8 MJ"2H.CBZ:G?FC*C\+3[_'6/YO"=6RJO7QE#OR@VI@F%N4ZA4NGH9*!Q@8=PN MAUH)O1H[B8KOJ9%O)MUEC[#"%9H863U`JQLB671*:3:$U]U<56PQ%"+>M!.% M=-(*C6+Q)9;ZYHZ^ME2!2DJKOET>%D6,&EA_,-5%_0E)G.=?.;)-P+Y:TEXL MYXSK;+2?P:Y&?F2VRC M2;VJV[3LCII)*V\FN=OM(".7T M,PF-^G?G*]/8;6H2,DTO0WN[FX3(L92>X@XG87-5`L``00E#@``!#D!``#E??UOW#B2Z.\/ M>/\#;VZ`2X#VQ$ZRD\GOCXS>ODH'?B9$_/X9. M8?37-\G8DU=__WRYVMS3G77D>&%D>9L,"M#(X$[>OW__BO^5#0V=GT,.?^EO MK(A+J9$NHAP!_SI*AAW!KXY.7A^].?GA,;2_8S(@Y,^![](;NB6<@)^CISW] MY;O0V>U=()S_[CZ@6SD5;A"\`OA7'KV##P0SO(<93GZ$&?X]_O6E=4O=[PB, M_'*S4#+TOH`K!GHU&95K/[+<3J3F(6-Z7?C7):.K0#%]C*AG4SNA&9#4?%\^ M!]<+CA30^IL"0A>4Q`\2?'S67[YSW.WFGV?^YK"C7C3W[',O%.FT@DTR%_NQ@>UXQ*N- MSZQG'QVY0K("?!OXNPX<1GX+H'^ZMVZ9HP([`0W]0["A7>4N)F!N@4&"XZ/> MT9=5*Z7@(OE+,A>Q/)N(V4AN.O*/9,+_]VO*)N%":_X9IS='P2>Y=_CW_]SWD8TB@L?X]88JI!TVI3/:F@.O(1K?5$ MY].RQ?'6#^EEGLQ::I\O2I_]T%(='O3Q@<9H9ZG5GC/3!7^=_ZO M@_-@NPGET:@7!$XM*?K7<0]G.6\+B*',KQO(ZK@4XBNK7Z54+JBKJ!D#< M1?(?(,MJ!:2N`7UB;C7]@@X#W M[U_/3E[_./OQ]8_D!;BQEQS=]V]FQW_Z:?;N[3O^V^.7>$YT$5/_01!_1O=^ MZ$3APOM@>;^'"IDV`>&X33U6\OZR'@(K1M"AJJ*JBSHMW*CT>/(8`Y&WZ6SJ MAM$:.!NVO90['X5LFL%P[$J7G;QE-<%,'H3H$511O0R,*$,1K)6M/TM@,OI+ MV=O7)[/CM\>%A>SM\>O9FW=O>BQCBM1%R5',8T*6VR+7LFV\-BA"XJ,E6VGN M0Q-N,K-J3U0[KQX4E71J$_L6V+/C#!//)YG%7P^_<.5'-+RA&\J\W*U+KVBT MW,Y=U_\*^7KF`]DO%MX#FQY87W@7CA?_8<6<8KAF\UU2*Z3E-7A@W`B>96C! MI*YG*,33^J9AJ:YH/T=/,OR$X2/++4FG(`P5_V4V"_N1Q//PO_*9"$Q%Q%PH M7FX2004I_AGQF%"8B["2.68\DH#?.IFH'(]L8U'!7T.8ZPB$0-SQ1-7H,;\- M64VW$;H._#T-HJ?5X?8WNHG6_C*8/UB."\Q=^,%R#X?#;.W@4OD8^*%J:]0% M$U3>RQ8R8JNE%:4_\+E]0"P@=]SM3YX-@V(GR`8T_#K-HZ#,9@@ M(C$F$OG$#TB*C&S9OU)T8DF8$8[QF5@PBR`/NX,+Y^IG=,_\F"/SI,.B?@96 MWB"6SG:OP/LL/$$M[173N:1A"/N+!(38.1BS/4([1KOYB-PTEG1=%YX12Q>36"V!:MYZ&:M#-\H#$>Y4K8Q MN=8,U/CF9<#$CYCV/)GU$W5M1C1LK&0[M;K1",F99N+3=(MZZ+0)E"8Z5'J1 M0A``(0R&)SI0DP,A/3!07Q8:^H(%/XJ-(8G.5< M2FA^K2X,P%J()4145"$Y7X<2^FU9+?:,J'N4/74+TLE<&B+T6$CX\I8E\<*Y M9R^C>QI(]5(+`F%!T6,B753JAT^[L.C0(MD!PF6)'!3/H',XA89,LL#TX"7( M\0)I6Y_S,F)`W+C03,3,E`M.P(B*G`?:L.:4AV$M.W)RBRM/<0S>XB.C0^+$ MDV&Q,DAW!1.L-VVI[;[J#*6Z6QH$U(Z/D$[],`K5>1+E:"Q%KB6^J,_2H9.7 MA]72(5$4,3H]SN7CQ]O::QED)P9L>AL1)PP/E&P$#VXYUVKM_"!R_A#7DGA) M\\F[V?&[GPIU8"<_G_GB,7LZ<2X7.=VC-9N`FE#XYV M3:HMB=5[2@H-GOY6U62L3'TQ4,4P:A"E#IUP`Z;:P`,U&5Y+V8A[J\9\=6>1 M36<(EXYUZ[A.Y/#=TBKR-[_?^ZY-@Q#R==%3P]U9?7`<8VK+7M[<=&&Q#+(= M?=5][V+^87&Y6"_.5V1^=496G^8WYY^6EV?G-ZO_(.?__66Q_I_)3;DO3QFX MN);.@8RXZYL4)U];3Y!E8-RQWP0':N=H/CVP!97?WK]BJBW^H5Z4.Z)#B_AZ ML5\*_SKA0HP%>]`KBZ8`.+OKDN6K]F(&A"5XUEJJ="2.$=80G;L]( M/!A/GU>46214>-VJ]+@P`D=_)43F]3;W9RQ]K9!0^?#Q")&W$E7OCG>7%LK; MA;R6[83<$?*LUC:KL\L#,%,1=]&"X]%@/ST MZ(L7IR`8Y;%XE1G)1CBL]+0F0\5$=0,0WDF,%F'#6!+"R0TB=]/9V!8 M1S2KPZT?V(R7J#Y@J@Q#BIH4Y!9"I](8M/A)2D?5.>:&<=69/O;I0&C7*$A5 M3^P'U+GSQ-9A\S2W?SN(^Y0WU!4O@Y9&G%'/WRG5=B"<&+7)`PDBJV#NB7#B M.N=!J*T6X0H@DD"1##&),9.U3RK#1VG@$ MN4'-6B]%];C[FS(64^I@X$M]RTC@U9S:EL/%X6KXDF=0TGZIE-'$% M#&%`9IQ*GOJ[G<,C+RB?./4]N,[*@BVU.=1"(#T>WLQ$X#<'B)>R\+VPM<6KU4PH2[M.H@7,TYX7<<)Z4BLYTJ41!=?)*D, MPWMT1$%*18&@O1B-R/RPX?=54D#"(6?D^Y/CX]GQ\3%T)2#A/=,DXCI,S6QQ MO^4!4/\G6=$`5HXY=\(?9H1:FWMR;SW`\Q9_8L`<,!079VRQ9SY$T#,,GE%& M>,Y$5SH5%+&TE,V>Y&)&3:7?NOM<8 M@U6'X>W19>26-^;Y,9B[\2H=TITKBY^X;K`=M^>3O14DX50<<_&XRSI$]WX` M)5RQ!LW(VS_-7O_X;O;N]1M3(JIV3)L52^5HO_+95DG3(/)CT:VB2KC"-+*! M!MA'F9A:(YEE!H*IWD/1C*+?8NV:IQZEF=TJ!+JNJYA0:'QYN`%Z+R>I09/B M\"%;#C"M8!P.$&VB=O.L'&V(+:BWS8JAQMA`[893JCU(N^5.E,=QC@`P*<[1 MW237@QBB_0W;X[KQQMA!\W92:@R&A/PM>2B:Q=*$_?#78"^_4 MVCN1I:Y748S&*D>J);Y8FB0=BE>F5$-.-:/"QAPY'MF(40AE2FVHS483&`[U M5:=RPE%>^^(O53*#W`?TGGJA\T!%=E3)H2T6]%>_VC"K>/E+ M!X4!KW_IDUG[;%9\O<)X7(8 MPX?9'#FR'(_:YU8`#>+#0H.4K;-Q5#4E.H!8#9)U62JV2&Z"PK(_7%-OJ<&#,:Y.54AKMFAMS:JYD=E`=94Z-5>WC$,XKSZ-$',.<]0`7/S6!FOO\G,^X>WT$-\>(669_0Q^H=V`\U5=%5X=AQ:MRG[U M)7Z+<[G^='Y#%E>GR\_G"!&H'L'Q,".JF(NMWT*Q:UQ%+/*%JPAQ7Q!.KX+I M-@AP=+X]BWEKT(?&LI.V%"HN4$)ZH-PH:G(3ZLU+J>=B.$L2(2F2&4DZ"G$\ MX_4I%/7HC!2VWGUD.\RE-W>8UEK;B/>$+TF@$P;\?H::3*IZ'#:`H_8]U**M MN1=BBH;WK0)$9.F1!!7OD(C3P6I(=K/684@V8IE;]^(LT&LMR&' MI1IA&WG^N*=>V)@/J1F/O$E4,2#=$Y8'HV\!Y015].C\[]?G5ZOS%=[^3I/0 M;#N7`!B1-4E6KI@H!;.543BJK2`VK]"E(5AJ+"5#&39,KKSMR$LTUH0FN+"_ M@4*0I9?]KJZG:",<=IO'Z6O7FWLV&NJVR#VU[^#AJXCN0F(? M^-&U^&L(?T[>RJ2/,0A;/:9/KSPS<9ARVG!&]P'=.'Q;&3O/I7<=^`PH>EH= M;G]C0EG[R^`3=>T+/^`X.N61NTUDXNE%'Y'IGW)TF04]%!Z8$XDWSE`]@[.3 M`3G7.6,I2">>C_!7><2,))X2')8?$)CUB'FK(Q;E4AHCX\TF:@+8.%;8(N\"C&S\+JANU#._*J)=5) MTMY)$<%B&MS%J98M^Z6X`IU[J7OZ0M>^;&;PX+8`PQ%'000.L,A;2A(T;`Q6 M^(3S/<%+E7TY"7W7!C\E9&/',P]XKI/0FO%\*BA=>J5SJ]A!?ZG$/CWP()P/ M]6$X/4/J@F3:>`;V33+?G`DPF?<);VQ8+N6Q\:VU^7T=6%YH\4L M!8ETIT.?J<(ECV8PM%L?NJ0UEX'(FM".'@EVIQ\@20I*?>1>FRSZ4)?;'OG>`X<_4`RK,&*-(&QVLZT8:W8A$8'$J\EC3YUDA8N''A& M[@0XC]"M`@*$+C1#,/0QQU`1`;Z5\?*<*]]SM`XTE:.14J/UQ!?RF_*A:$G* M.G*J^39>XD'C`_#I\XH=B,T--T#)RT4'NL4)Z#G_,L&U12CH&?6!QBDZ97W&A!1@U?),+N1BG=!DTT]>E3$Y;Y+*H=R3 M+>+T/R.#9'206TY(_WVD(DFM:CA#9/+B`_."$4+T`RN:[/XG0Z?T6CS)H57);&X.BWE-"\5A<&3*[+DMDK MWQ_>2RNNQ_('<\99+ILJ'70Y&/$R2^.2KD7C^7K,QQHTO$(_*B=.U#6\%'A- M`P>6]4T`B?TS*O[?=!-G`,2(Z;]!1%+)%/;".KD_&XID12Y/\UW)FHLYDZ95 M1Q$$?U:&>8#KF_-/YU>KQ:_GQGJ$K,`\_.^#Y3K;)[CC'GZ"2O$&*;04:Z^9 MS/(9`PA-QXGTF`;UJ&(,5J0!2_[N0E:=!U<>K/">;%W_J[CRD-V%X#$Y_/#] MB[>SGX[_])*\`(-YR8_;OG]Q\F;V]J?XE\3`?,2ND9,?VT_"^`X)S*3?!.-%2`W*5N(=-^]UPF2RU`__M@F,L;WKU]2`7[R7>C4E-W,SGVNP`G9G\[8 M/[T[\:74/61&FK.B#FYJ[=R8\,X4`>![G.;DX^#9 M3-/\A[X(ALG$&Q-1Z9+:+_..5)\X-,^BD%'=K\NT<&\T1N/&9/F8#;77:IGQ MAJ9ZM1!HG5:;F"@U6E4-G]RU--(BZTVJXS5FDU8T-'F3#FQJG,9-Y2*&H3XN MM$,M,#JUPGM>^\1V;Q^>OH24.;6T$GV^B9P'$;G5%Q5T0816JM21Y5(]4TLL M6!N6KI16(Y3K\YOY>G'UDW;WV;R@HO^/20H'3VA_&OL>?%JO_]#3B+#:R M'G=.O([84_`E:5:=O>3#8IH@F8P'TTD=K\__Q4^#]CF#]U,SM]+I?D9HSHTM M.'$Y!*03WQ5A`DLG)]726/;GY^@\S^B6!@&UV]TE:(3">AM7BYGBR[BU(%B. M0XLLR7.,`JJV5G]TV^U)>YM[$]/929;+E3UCJ[J)T`B%8R>:S.3MI`$$RTZT MR*IY1)I9"G/!!YQ'#+L1GT&I'\`>F!?]QZ_'_!Y]NM*)-Z!/#\S#>)NG;)E? M;MDJ_V65_.&,>O[.\42_]-ORZM1X1[\S&%"6^>(CN3AX4$X^^3*F3?UU3#0, M5;ZJ-_T+S_PO=ST(H MDS[)6*A^SQ6AG%I[)[+.BU18U9N[!`%YD:!X"9QF!4XQFI[538H=;$9V\G\>5M_0#74> MH(8_G'LV]S6B1YXLA&^/`V%OVY71=*/;%L&TN]YNU$D*!V)E3+5RX8F6/B2' MBC!<1,06`AO*CG@@E@5W08X[\"GB(I4U'G>-&^-GRI[FR3H:=YBARWS#<_#A MM?4$Q$+OG\TF.#`Q92N8]C*CA\R4D*8-Z_7AC0XF311HXJ#`;9<#V3C88K M!S?*6NM(K.Y,^%XZPBT/[\^&PA"SPG&:&J-)1I=4N-_0!^H=]$VM`F>*@2D8 MJC>K$I`YQB0EK*)[T!C4MT=I7('U$=%\C&D,-\-Y#+2*C M?(\&RQH^J`:+8;ZHD5))+[!?SU>&OO?0GIL&-Y0B-.W*,@OM^2GAVI]O_G5P M`LKS;HP)^P"$4FGFORTP5CE+&]:*)2XZD'AE+_K421)+#"1TDGK.K>O$ MLE_N=V.]U51?!=.#F028E_((\/AH(D,PRBF%?KW#E!]K0J\1^!M*;=X!$LKT MEEOV&Q:)1$_7C`'H$GF>$*F22QL,2/ZC/9,%)Z(/CN9)VI(HZVK(,8CFLK83 M[OT0GB(TP;,,S!S@`,82+#/"\93!3 M,F1R=NH39$48<_)C,KHDZ;%D$-_W&9`2TR);D1'+<7,Z.#?Z"_(XWP)GZ;T. M'&_C["WWAN[C.&/I7?J6!P?H_'@\_$1=^\(/LM;,&MZR&UK\1;J/.%0K=Q>< M)BSGW>F6//_JNG0C&L6S0-3S(QKFRB[X^K?EMW/%S[QJ]`@X%=?$ID\JCB2( M8CR0(B899I`/Q\T%(;`30,^;D#CI!/C[?<9O7DI\5R+)>C3L:K2QX&8`6C(K M2P5HHL#.";0B4UY7CI8"Z$=[F@N`Q@TO"J;Z,DX*R))PV'F!$3Z8B>G^WNE7 M\]/[_=+ZYJ?SVYQ*O3@DB6\GM3GS#AG;,=DRNV_4(>.DGQ/=_Z1/Q?0];JQ% M9)0_TF!9PR_58#',/S526GV+:W$UOSHU\[BQ/3<-#BE[+,FTX\9;CD<"RL]R<\^&F6$>NJP4#.1%/IFU M?8EM)`4&$N.M>XZR%@(W"U7#A"SC)!F.G5U2DB2Y2XK\XF1[DJ\SM1?/YJ5K MA?3!R:D31#8\ZI<\%)O`8]JK'@_"3L>AMY-UCB7Z'@\\Q(V1G^:>+:[:G-&]'SI1>!-? MN"EQI0N$\(2#-BOIFPV-$-,^TJ!)3D5O$CC^[H*`)`DH26!1WF#HS1$80"`X MLA..@C$Y:GQWX1FQI/G6PJ0.JHD/@M795"9!9KJK(BHZK$A#&N*H\.6U= ME8`US57I<22W@A$YZN.J3&.IOZL:GJ,>KFH=6%[(HC86]"E)7GK\]=KE-GG, M5L9P1T0(+JT7RZF;ZX1E6M?7@\2*7J:XH,=1K6]<>N)Q:1B8($7QD^.PS[8\ M89V-LKT0KQF$@=:8[#4"I'HO@ M=)L(3_VJ:N"TKK.>BFKI6CR<)(^`I``HGJ\K]4%,_694ZAL=EZ'D:_J=T:@? MP&UD0:BSNST$8;WCD(U&=!UJXBO.HSH4QWVHZ%!K06Z+F8"@NI#V'.1V*Z-R MH.U&#&2AI2L9A8,!-HW+;3)A&'N[5EM%+7#$#6(+]BK;0@U8G,V@-F'*(!@V M=BF.-.(Q;MLW`*,LAO=31I/UV;P-WO/EM.56#I-1U$X1<#,F6004A[>-4*;< M?)!7MY+%V8`[\#HLJ/HZ<%[.%+R8>&]" M(94V"$R_)R&S)WUH\^]%-%WTR2[WY*_\I"6L!M[;:L=DRVL21MW;FO1S3N=_ M@-6YQY_;@(=S'E@@`:_(T\#Q[;+#50BL'0H<']2%S;P7:@./Y8?:TRA5W1=V M;IV,UTZV8*(\>S,`2Z=)2S7^0P[+C`@\1!(AX'B>Z3_@='[F?+NEFVBY/8_; MXMVP+=/2DW.L$$\[%#A^I@N;>3_3!A[+S[2GL:*F`@5L6-,VB0'#$N\U^)86 MQ=\,REJ"A``68$GIBO#,W0TU0+!-L15ZU2NO+]?7E^>?SJ_7\DIPM5J>7R]67FW.RO""G\]4G1FV).]'+0P-8`G.03C]'#DNP;+L<\.`8ONQ;)]X0<* M&](#03@_T&0C/3-H&#_M.8$6,?(8$<"(@$LB0P9)$E"4TX`>[$!_=6(+=J)[ M2O:")68#E>:L4R:'10\UX(F%JLI$7VD45O)72FPQV5L8,GDC.<<->2H+2.G50CG&D.3W*CL^`4'2`\W*&(PR!P6A62U#:<#$!0O2V:LGN]9CVDOSB?MGG*H#?6K= ME%H>84"[A\5'I`H"/:JOU71.>BR>-8&L#WZJ`]$.OQ4DE\Z[2Z,0C[BEE,B. MA-,VH3/BC10.-1QEMR(UZ?VI"-^F4^-E<&=YSA_<)$]]+_1=QQ9[0,<>@XL M\QV'CXI%?;!")Q3-0^C>"CC*R>U_(E[ST\Q(82*^5![[,>-H%$5.+2`0]BKMF$HW;_J`$V[I]6G2%*7\)5DL*0( M7+NN3++_[<$9/-[B16KF<+;&$S(T9:VLDBDXGA>U`PLO/X;WA7$U'AT?`#-6 M=>U@0BF6W?9&BU>/.Q#IK4T#<^DWDNL>04"Q%5SMNJ\"P M5C]]VIH-'&\UFX2+Z>QG[KK^5W@L^L(/3@-J.]&E'X94N9UM`8=C.=H,YIC`?$U_<5N;SD!K&IL@Q:P#1I;Z2[8;WZUW`.= MV[\=XB5OZ5VXSMU]E/:V7_FNO0S6_@=ZYH1[)A)[N:W=(XT](X;U32+$S'9' MG6YBRY^`EZJ5Q9.2;%823\N?XH2)"9^9Y*:&IUG$Y"2=G<#T9!F0M4\^4)*0 M`(^WH&]*C1.MI1:MKQ(M\X*13VYSHO6W.!OF_S7BG+3=V9X&T=,UXSEB8DR) MS;A=!H)2RVW8W7?$A=8@K3OCI]!-U MX=(1/%55&V)J@2'$B2W828,]#9AI(S9M@JK==LO:!+#\:AM`XP=,0W.VC3G# MB5>FXL:`<&'.]L=1F.,PJQ3L&C5HH30L>&@A!JT80@.?<:&$-LTMM=[(6`"! MV>FL'3I6ZM?I*T?CV&@#\7GS4PS%LJQ:&A8L MU6`3U+QND9&/-$/)&WQE2<#;8EV:)QB*NFQ-R@V%7A4,H_153!89M2_7LR*U( M#H-O/W5T5??E62K^,[7`A8]W=4?/8%J1GP,KGRR8L1*EG&1K9-/Z4P^"8RDZ M;.2MI&X\EH4TTU1G';D8IW!=O!P>Y:T(VM:GAI@S+&XVH6I%L`D MFVNQ).6@E'IHA&5UY&FD*N.D;6[6+3\&P> M$CO"F?CPPDF/SH=#/>T)^]!T5]\E3CHOYYN-IU4BE2:\4!(INA0E$V6`Z(?V M",+R,V'-JM*RU-+"*01XSA+"]+IUET`&1/XN:M?K<"Q;EV:M%@Y9S-"U4GM08`&$$*N29N5-(?4"#%M;DB3 MG(K:)'`D[9.30.(GS8?G"2>U/3X?TRVK4EZ>LK>SX0&R('B""M(=/'\I+O\P MKY9TGG$:2UF&G0)G41Y#3/DU>TC\6$OZ\#RT\FYXR[VIC$_8D@)2X3EN6G2Z MT8%$:B>ASU2A640S&%HK"%W2JIU4^%G'^>.>>AB/^_4E/`=JWLY6S5Q3LQ8- M0--,I[;-2B.4>8;3X+>+=H/:&F5T%J:SF-7A-J3_.K`8_?R!UG1%T1B/8Q^- M#.3-0CD8RQH:")(TI$_&$P$PN?+WIMB0I:+,1\,"H1YNAMK7+0:JL:8H?5-! M256#\'S_B+37ZWY,ATV=?\YWU+,AK7+A6G=JVPCIYH<[_^$5`Q%FP7XH6X,$ MW;3ZK.0'%+CRQ]8:JY*:_'.UUI&_I$@)8.W\14\/00"4L4#"2J<7V^?CW._HH0XR=B`@(S$#8%@3DZJ\59G#Z]IH'C MVX/IA`+M]`I1RU^B#=)!?52A!F%_/4B0$X%].!U8LW'#?7J!#>^+Y[DI?VCX MVQ#?-\,SX&<%I)V_99S-9'@"RUUX-GW\*WWJ_U$5:*?_NK7\)9]9.JC/]ZY! MV/_#"^0DQDXX>L+P]]4!?[?SO57$]D"K>XLQMSQ$861YMN,-$-'IS(&F'1J< MEU2E!F(`O6G$/IP2\:D(GVM&Q&PD-UU?G1(AR`W=^P'4-T`[WD,XF#8IL*/I M42VW)0V2CAU`=VKP#J*8_I]> MAF^P;Y\A)X"]Y\?_U7JO`%*$@VE`BEWX M@;YN_V_4=?_J^5^]%;5"WZ/V(@P/M";#WDX5E.BQ5**!WZ)J*`;W5Y%:Q(.I M"LQR]#M,0Y)YB)BHI])<'VY=9W/A^E8TE*(44&(IAX2OHD+D!O17@@JRP3Z\ MP$PXZMZ))I'!%.FK"_:[`9:)&M1X*2@EG^5\5&7@$,DI!=(!,U5Q)CK.0_(Y M!M(-2&Z/HADYQ-AZ4>%1KA7IL.%THH1R>(W@9Q,=]&'0TW>VA>6OG"VWZ2-4 MUW#GW_&]II-X+5"D4_D6;!5.Z#7@)KLTT9XHR8T;SX8:)W[7)BW=)1\LE[=& M7=U3:LCK#@MOX^]HRFJ#[BE'XZA;`_%Y#5,,G5RI:NG0U:,4G+]B)U`:H4TY MDQ%4\3MKNWU`[QD;_/5B_EMM#Z>'!=W9M6%6X?=T4&"Z0'WZNFEQ`:VA.GUJ MA?=LD_&UL5BN%@1=6Y5L*%2S,AY3#Q7$5"O/$A"N7`R(<"BS5&H-%W&:>(X' M(:M-@510%`;40.,H*B&;MN;C_X,/0?S6E[YW%]%@!\ULH'AB_NB$BB\N'XKS MW>O(3KZ^#KVCZ8""P+(FP+`C&$=@X(S7KS`?P`8CZL07MAAN#@&U@:;/='=+ MRTF'VI$X&E%#=*(0&M2.I@]R\LKJD([BZD#^(0::L!2\.*+&1]2, M1UX@5`Q4UHHFRL=?-B2D5F)6&`*A`Q^$[C%6-(";O=<,)0V8^G*J:CU'+022 MJC0SD2J+/O7CJ4LMN=5G/V$TF9-T?*(Z"A\S".TUMTVZLX"MYA]:J[D"`E/- M:YDHJKD6]2.KN8IOX M"WN>N)H](0PC?)Q!&\,S?V"F@:;L3DLDJ[:'LIIGFR#F!*IMT44PS%? M*^[XGO@#]2HG MZJT@\95*.-J0H<:GQQ<,05E/RZ\!QK"?0+H#YDT&9?U-FYZ";8W6B1G/9`X M4M<^L!S&6PCZ,UY9-I+SI1F)L9(4K>@CFB!6M;E&ZXDRDD08*L+EX!3DL$WE M8"G[F_=X=I8_A_>)NO:%'ZPLE][0#2SHSM:A]MJ_<)V[^^B#8- MELPQ64#>);5"6MZ'#844X=G:P421/FO;&^.TS]X.1&Y%LSE>`H@)PTP`-Y#+ELDE!+D$>;E$/MD*N=!4+@7!K?XGT&@OEA2%_)'Q!E3/IWGO.')HMYF4##CK+,I'(=9R(,GSJFR#(_ M.\8L$_O>\5BHFA>?BV23M7#`1<<-DQ*)>\=QT].+,,A$J.^2BJX,C(5858>' MY-&_*1D.Z?Q%?>4-M5P@E7&6-"ATKL3#;^U@2W:HIP:@0SI*_,&L665H]K M)ME[\-_S_=[EFX3YAOTMC#GNF&X8=3H$#SN!^%+G.^)YX_C?:$#94KBE3D3MN6=G&Y2%)Q9!F\H"3I$@)PYK/@"R\^`8=BK<=3PYA(@<[D<-7D,,VE0.<,>6V MX(['_AM-#HUNTD!!#)I!MFWN7BUWXA!YHHDQ,LQ3BC3+.$\QZ\09Z.E8JJ8" MT[G)-QU5&R)C^YL.M0T4\IB*/.3Z=$4C4);D8#(WC^D%)1.)R\G$Q:+9 M;2RN^``MRHG+]#J3YRNO(9TSIY]M?*CS`"\T0`];WAXP[F@[Y'9AM*D07/;( M8DN]]TCS3.O(1V6B>H$_DART_&LC.AY*69\IG$^AAB#G!@AE^%S,5I"C,\T ME#=6CI8)V7)10*/%<6&5K)>JNBQH^)G0*A+'$EJI)''H:3!J$L?A054-IN_8 MRP%_\V*"6)4XK1#UW5$YK'4;72!F7>*W(T43EH&<(+[L?>_:"J+E@>%):I.& M_`[-U*/0397>' M5HB!#R#*/9OZR#]PI-:8HAQM:3!+EJ0DRR$7",Z6Z.HPMW\[B!27ZD5>+0@$ M9ZW'1.IRZX=/ZSAU:*GHV5+H0]R,(PH6-!EU/QYN@["5B]-6#`"3AH"9I>V=^*NH^2;S1G0FI"$[D>2C MY7CAI<\6SW#IG3_",GMPPGN@:KF%QZA*W+>`PWE31)NAY-&0UIR,8NJ:E%14 MBL.0%P+J)91&%`%!WP!T6"MY+QCQZ!VT49!925=^8#AP02M=+_)C&VJV-08SZV,_VD0\B^E\5IO`@P[RS/*N30+JW>V13W%\\BS--$_ M?(:E`C;^5>GPFO,`WRUFJM(#+BK^JVHWY`;R[7U^(%Z=.M$\,X@ MH^C:>H+$_MJ_M@(V,[1BLKPGF3BU01&<<4NV4@^K"3>MVVQ%5$49&32)P4D, M3V($H&H"!8EQ3!V=#L3?;%Z8K=JGHXTNNS#>2G3\YJTCW:EK2&T,H+K/%0OEZ(HZ)D-,;FLROE MZ2T#.&'>!_X=HRT$R^ZZB$W75X"UY9B3#0V)$O.X&4!&.JRYQ.,V68&". MG8SC3_>/_`U!+ M`P04````"`"<@PL_83*G$(D;```CH`$`%0`<`&EL9F,M,C`Q,3`V,S!?<')E M+GAM;%54"0`#ASM$3H<[1$YU>`L``00E#@``!#D!``#M/5USVSB2[U=U_X'G M?=FM.G\F,YE,S=R6+-LSKG$BG^W,[CU-020D84,1&I!TK/WU!Y`$29$`"(I4 M",)Y260)#?0G/AJ-[I_^_K+VG6=(0H2#GX_.3\Z.'!BXV$/!\N>C.#P&H8O0 MT=__YS__XZ?_.CYV_GGY<.?\`@-(0`0]YPN*5LEW'P#Y[$SQ9DO0[LX.<]^\U'P>4Y_;'T],O7[ZD;G,8Y"_<$Q>O3]D/IU?8C=
!@M,U@G9=$S6WX_1=@-_/@K1>N-#_MV*P,7/1ZPO2M+Y^=GW M;\X807]1]W>ZBUK[[JG(43A;W!.X`23K5$V@"*(S&@_0932Z+HXID<'RGN"` M?G0A(SUL0JD)N@?TPH@@EUK6%(2K9G1V6W<>?N+[^`NSI1M,I@1Z*+K#80@; M^2*'ZXX2(BX!B^AVO0&(,#Y/5X`L84CU](9^\SOP8SCQ_A6'42*$67#CLQGH M^L\8;=@WC]CW9N0)7\(K%&XPG7AFBT9Z#C-H9V941OD5^A[E^"-@D&J*5)"= MT;J"\^@&!50!J$TT*DNU=0_#$_1,)XAG.''IORA"S1HKANDN(*X<'R`(8Z(W MJTB`^D.&ZJ#K8]8UG4\SU@/_EJZ;)&Z'H49/G=%^A&Y,Z/IS!:GA(&9+U&Z7Q&I[DI3E8XNA74L"8E:&?$?@<$@;D/;X,(4L6+DNV) M!E9RN,XH)6IQ_;*!@<;J6&G0C_C"FWKY]UK+?>OCO]<41W9G0.Q5YI M&6QDA`0J0V=#A<0,CRGT'1T]PX&!=MD#HXC!GYTYQPYO7_Y(C=Q)@1WI#AJ^ M1##PH)=NT"FJ/G9W&OCLO(%)$]O8-W^HD)[,Z4Q*39IWY(,Y]-.>-.%.6Z&8 M<34YN830/5GBYU,/HE.&-?N0H']\=IZ=>OY"O\KQ>*+=5O"L_YRC4Q;NA.RB M!HC+.Z(?=^1=/U=E+4[IH8#V=^RND.]QZ`7!ZU;B[D[,W M1TX<4ISPAD$#_VMP>4(1\1@R-SY8"MA<^7U4?*[@7C#ZNP$8S0E(YZ7KP+NB M"ZQ"KROM1L5X"0V%`-X.((`4^P>X1`SI(/H(UB+^BYN-BOUB$@KNGP_&_2FE MA+"-O`=??H-;*?MK[4;(_QH-A0`N!A#`-":,T!MZL@+^_T%`Y%.0O.FHQ"`G MHY#$#X.9PC^@[_\6X"_!(SV-XP!ZMV$80R(U"6G[4B(5,Z?2XQD2_VN(_G/G)O?`RJCA5)FQ%*80?_@NE#N"XX$>D& M+SUKWM#O1$N%HNVHA*"@H]@[O1M<&&RWK2>*4LL1"Z)$12&&[R5B^.FTZH'N M'O3@LUOQQQ6$S=[Q2N,>(BY*_=TGG%[!"+F,X!:85""[WUY0]J97G+/%;4#' M;+R[%D'TB@9=P:CD5S`(T3-LCY,0_-`(MA)HN[[Z11V$*[HJ?6F^I1(#'0:9 M_;DGZ4%]A56Y16J^V*K,!;LW690XY]C)L:*?IYCV&["8.OHIQ#[RDN"\K!=U9@'">3.1Q>+P$8),N/M"/0OY-=17*OOXC1[@4 M.7#/[M/E]UX4&TVP_1?2_0F:A"%EJP+U:H,A%E)]%A;KJ`CW;/D\/ZDMGI28 M!:3G8^\NI5R*;(+I,R1S',*D+8-%F(5BT(Z'D2&S9Q:R0/]CP5'/P&=V/HFF M@)`M/<`D42\"T6K"#25QL6IRV6HBGXG\XJ3NKC&/#`NT66&?DAJRW5>T5=Q`Z(..Z6Y"GRJN$6]/Z@%ZH[ZWR'(0 MA/=@R_8(E`WT&Q)38@K>9%&+S+V'`S?]0V3;>W>3.'&ISX:5Z^=>Q"7('>2[`GOU!PPOP M4Q`J15CY?6Q"K*#/Q6B=R^@QGE/:Z,XFDAMCKB0K2Y**WS:)7>&4NC\FM-S!=B'6M<6A//0RDA]P#1C<84;%#$J!)LEB4MS9>G%'4N5NM<7*7XS31=:OV%(4L' MG02=TWVE^`JJ70\C4(.V)''U,,ACUM=SFPB@`'K7@`0LX_-.N.\"N4BT\=(! M,E\)=*C@#W#L>59>]9E_O#\O.O#<^>O.R-\>XC>*T%/++9!A7K68$S!7E7<,[L[ M.^DS67"'^1$'RPB2-;O#8N\D)R](Y#@4-QM<#CL*D\]]0ESSZSDCV)Y3,/5! M&,X6R0PMX;VBK9D"4"#,G]\:)@6Z_L!;^E')_E(CP_E>PI2_032#X>-+.5+3 MC(8$(X+Y9=0.:%Y\Y!("0H^`O(3,;7`)@L\B(,7'8DG"@ M"B$\9'BVJ!9;VQ%<.U#S1-@._SQGB#'"[-V1.5FS3+__3B0C>@>D=F(V0YNG M`JU)*%Y!6:8&K^.]C71A;OVZ1K`9';7\V;FG*&GW*0"I*4"/5;]C4Z(P%J@1 M9FSQ`AHD%<'WEDT!HP\2:39S#<,6''I&+=7=>(DT67E2X<(32%75V'S_M0K[ M(D+$,JL5$2U/R2]CT^#Y^+M+6I2!GXJ[7BEAU.(N1`:$0%E=N9+UH) MXD5\D&7V6ZLD,8FC%47IW\()6MEZ5,*MHU^(V%Z;;5A_I2U'*-KJROONI%Z7 MPRZQJI==\VK@=!2P<,%]=U(O>3-J*5]B1ZK^R]5#2D*M/\696@?9A[D>'D^5E*UE*6ILN M2PG:AW&<#^]RN4-TV^0E0DA_@(';_-Y*`F7^-E"+C%)2NGK$6L_;P4.'BHHJ M<65=\1#1"\W:1$57#EXX:6=#5RA*L<@Q4[C\I2V'>6#Q#(,8JL*"ZDV&LJX& M'A+_0W<(LF"#*/+"(D@(KHFBBMCV8*-Z]"!E-12(>+\7S&L'^A"_A%0HW%$%OMA"M)OJPQNM, M"UH,K`TD.3WQ4U]!W'0%R!+2*59<6NQ3;1+IT(_1,N]`5UYER!3I]W1E!/RT M`NT!5(O%$?<8`:CY#2EL8+68IY4<'(-JE66:/C MX1F#).LX'ZAZT-"^NB*+W0UE4YH_.*:$9QS`07@)%YC`/*,T##^@(*&VY&O> M[26]A M(P*\K:V@]!%&A4H+)%GYW7#Y5;`]4,&DH>V0^5E#1B$[YUZ_L'4T1N$J]7U( MZB=IP!B_:]"@H2@@O'<4W$[/ MAL3,E5+ZI0@EI21J'-#+JZC7P[>U1"?!8AMI-*PQMFT,=!)RW].)A&U\7<)< M;ULT MRF";IM[,LTE!.[''O#C%PVKLY!D@GZ7-O,&$W4ED%?[8BZ6\V&-OBMO'8/;K M;Q]D*0]E'7F!A(;#O;ID MPAO-D@GM3OJ&E5&P^>3_[;#X[;`XM*XISRGL2F>Q@&YTV--BXS#V[W.Z\4>9 M-=O"C?:G@!+NLWQFOV*?948JO/2E?)`X_Y'AU[O"\ ML;6`S+=GDRV5]6M9_E=X?6G=!0JO^J,?&ML(\5K4K)$1_#;$-ITICINBD#S1 M3JT1XK7H3",C>KY.Z2'7@"SW%280+8-I3%@*Q&W!R-F"NR\M,!TMIU3YE\]>@1LUVN;/KL5S!>B1J]!/V2T M6Y_7(F%KPL/FS!:"MJ]%-Q0LR)-DV'64J5[^E]@U!1L4`5^=HEX;>+QW%6VH M+-)P&'/M(-EJ%-3P_[,TZ"Y$SRS>/^1)FM,L<*)]1_L^!GP`WU+-\^U$>R+S M[!6V^3WJ7)RXR6$LO`=;Q@J6.AV-2WVZ4&IMQ@PA0QCY MI<0Q&6MT%4<&;8FVR,@[4'H.$U6$7W;)JY1HP-B@#C6B\I)MMBF!_KZM4WS> M&-6B#75>+7@DUKT/`I:O,$^`+5*0-M`CUI(V9')5L2[JJ+Y:/U`&$N12#68,UMJ2 M5D'&JQ3-M'%-L,X)4K:'>X("%VV`_P`WV60Z"^XP")A/*(W_S`(YB_2F#3/) M?EV.5Y.ZT\XUS3I7"5^?*;UE+B6KM(##BCV,=@\CUJ.VI'*UZB,2M+&RJYGO0<8&3H"3J/R^MR@E9V,N(3M)(N_N#HS+H3=&DZO0W#F+(` M2A,EJQH;-E]HJ+IHDU*EBLO=NA2F9:)+&S(=R=>;VR'[.EU<^A;&D94)Y4HO M"W%7MAZQ[%5D<=';YQ8KJ$:,7A'D1EF5:V]*#, MBK8!_PIN<(BB,(U3*3*8E.-W-(#&*5!=ZKA\>TT9>8"X<`4I44R"UM+E0'9* MEU/'I6N0"U(BWZ3D(D6!SCY2NF9!$KH^6_!(=I',]^QHQ'JP)\5<-PQZFRC1 MC1F=3U8@]E.2PBGV?T2.-J8)TC39]WG5SL8U:.-E1R/>D[0]W0F?XI_2S--?V/ M!=0\TUF2O1+03;C<#GP,ES#M*.):T?,3SJ&U(LWW/%MF1.M(?$X)/MB@+QRZGR6XD8L43V0P4393DMS=T(C05R< M/YQSB3W/,4[RYK[N`()O>D3ZR><5D!C-4]`L!7Z4<9Q&H;Z?E;Z?E;Z=ENT_+V?:653MH.#7OM!S/D4M"0'&* M'L&YB^<\VS(R)`>L2ILQ"$B">G$DMLS!P6>G/'4J/V+0/6#]"I^EKN78YHVNZ'8%Z]Q:!I778F8YEELJ?\+!R,'DY\$(9H@5BJ[AL?+5=1GE7D M$]T?DTI5+>$AK7NG0ZE,7_93G,JZ\R+/+&>Z+JU9.DUVO%T&;`74(J_,#_:P MK\HOH7X=9B![=.XP_,FC0PW7P]2I\I`5V&(;@\PS\K0"T4=\AX,E)!\@C*[@ M`@4HK6C2H'+=^[1&N[JS@B^/IBM2\6JE8C_W,7%7S&@F=(.13.1)WK8P(W;/ M9?.@PUFC?@?E$B]^9;IF3N,PHD9(^$,KSI1_T),H-;,%9&7ID]=7?`U@UPW, M;H5^EPZ]6:-779B0US4R76\FGH=2S+[RW/:5!K9&&[\2O_(;H(-?`'54W.2N MC&>:X\\18$H&?^)$.AQ9^^W?&C7LERV\"JGIRJ8N*]+KO'BPH:Q1P8-Q*)_[ M+@Y__=V+9T6+KAVK;%](Z%`C6:..AV)07JK(^"WDG@PH4?MI@X-[0*)9'*D? M:1]NK%>OC\TLRNOLV:J1E?9:3N=^1WGU6JAB3EY5Z>#Z=^C@M$L0HI!EZX=4 M+#N5HWDP&E5JY]@I&$W_2(!8Q%D9;(C"I60)@JR"V9).W"*'IQ*%X-D[O@BHX@].$T> MH(=Y2<>D35+!P&_(FMU#KSWYMZ28R*:)%G##/7SH36HEEY0.Q3:9LZBZ36&^ M;^KFRP&28/4AK'47YPDK\,Z=B"ISU`/KQ=YVAU*:F+3I4%;5AKNYV4BIL,=2 M)CX]TC#_-#U"3"FB*&(/:Z!@R7M;M9D>PL9UD<*RS+7?LF5K//+IUU\O4(A>06E+8>R M+S6_^:Y=BK9-QD+0,TBJA=>R&!L:NOKTMUP)MI&LH7)=J'5'KO.]_`?(&!$2FYQWM0=R`"O(22@05!FTNOFP9KQSJM(S51G(4.:H(XVZ$:R'%O?%1NH3Z['VPJZG>]:%6LK$/]M@SYSQ`GR7\8Z'0VR1*E;*. M=BF82@0A4PFHD\`Z.\"#A%\(";F*(4OLP#)0%K\KPS'VZ6:(G8!,P"S]$BB\Y M.7KYO-K!#Y+%3`=%E4FW[6"PAQC[R#+/4]:22'LL^G=`$'M%QU,O7E/2A?[N M\UJD%P=U.*R3`P^@Z$)"MN7TP[QT3OK")GOT&G@\GZ$@(73)#/KMOI=]OTQT MRNV\!M!0%GP(">;[=`VZ[3'JY*!Q_;)A*;@%EEP+$DN/XCG`$.^`&`8E.6HM MOSI`@SQJDN*E?*>D`S78TR-M^>3OBG3(LY+E\FGQ:4+2D M,*%:E!(%3-[U)J#E`.9>O,ABM%2NX2:(7O9]XD&4N[Y&D,$\LWH\SK=QC81\ MM0R_0IOXZ92A.P'-D550)``.'.T1.ASM$3G5X"P`!!"4.```$.0$` M`.UJ\E@N7S;[M@61D(0L"6A` MT+;R]>D&"9*2>)-DC9D*7V9DH/N@NP_0Q(T\^_75]\@S4P&7XKPS..IW"!.. M=+F8G7?"H$L#A_/.K[_\]2]G?^MVR>^7]S?D"Q-,4I/,I2+ MI>*SN28?AC^0R9+*ZP)DSGQ*P2`3G MG;G6B]->[^7EY>CEY$BJ6>^XWQ_T?O]Z\V#D.I'@Z>M$>7Q%'$NLPDF/BT!3 MX3`K[W'Q9XDX5D_`P`1^0SZV9O#ITZ>>J>T03=6,Z5OJLV!!'9:(^A=3C4\[<#J%:*SX)-5L1 M"$5&)`V0JY.VLN[^W(LJK2@0KI<+%JP*!\PYFLGGGJV-K1QT3P9640#-H9\? M5E>K'NKU0*@+4DQQ)]&K5HH5H(,0YYIZ`N:<@VY;(I%]R8 MU#\>_)UTR14/'$\&H6+P!\`0.241$,D@G?76U=>10Q@F8_&+^;U0+``MX_H- M%,3:L4B9ID,])_1V4$PM*]:+2VVX=V/A2CHAAN1"N)^%YGHY`D*5;TR.N"B5 M*&6DCWS$VMF?5+@D@B(9K._%29W0[LSEFW!R23U,F@]SQNR`6"TJC?I@@'%_ M@-"P./!#*5PF,._#KT!ZW#4/D!B31*#DPY.@H6BEPJ[J@"/^=,2EI"6A#483T3E)QS5'4@J,CYL(NAU/ M5=0,I0^NSB&>_)D5\90G5$[:R4ZDK;334K@[A3E)&7!@ MY4ZQ!569Q5=.>?DBN#]87P0;"+,,3D':P-O`WS,'U[:.(T-8D8K9G9("?CHL MLQM1(5-!R/$Z(1$<2?'(*F!+3DI.H!5W(*5@#K%DK)15!/]D,_A6W>2E-M8V MUA<>9&A<:EY+-50,GK$W,@A8/`0*:ROB_]-Z_!,@,I6*1%`DPFJY2+C@RE%T MJD?^@G*%26$XQUWNX$*XUU#R&_5"EMG.'(MK#_?^/W\+^0)+'J3GCM6CO&00 M_(5$$Z!KN@%/V_T@M@*DII!8CO,[B!:0HPIV5U;/+:(K"&).03M(="5 MM"031JQ-\+QKNY/M3FL,_I-Y+@SC!^K%Z^V2^@IB/ZX3NT$/@IFACG`M)FYC3T[M%U+X#9TUC/F1K"I$GZ3%F%>`=H;Y@*QC=V'VR+Q"+@),XV^B.Q MS9*X73/[,RT3VW2BV?:&=%WLX3[;'55Z^:BH"*B#K2;;%06U%=SE;%08(&*0 M2!:JI<)2,92^SZ/E":R@AM)LZ##(9':.42900$A@[W:M%%4$ M?6/G('HV6/4VT,D$(9P$[%L([GU^3J=R&Z45X=Y8SZ<`)$+X/X@X_H.W4._9 ME)@[IJ=X&?*\$W!_@5LF4=EEY!TGHXI7,_L>3_A_@[M&K[UD1Q"^Y[6IX M6X]0W+"%H#!16D?9N`,+('+!%&:>GC7>`D!"0O6[3#,$VPE^)-0#2WMOYCQ$ M?EOGU\@ZD._#M)4#N>[1R;:N@PKS#NCT#>(?R%T8F]NZNSJ<#^3S5=)(KN-G MO>Q]9?AK]3[S&?@ME29BXR9YV;WVZ-[\C70,4(D*_M6U>ETLZ@Z.NR>#H]?` MM39N8T(:@^U,L'K[F;!Q1;R6%>M::,,GM&'P<2\;LG?;M[-#BML=39G28&+` M\W208'53K.VM23#W-P9+MK9EY;T%E_':MJSKX(^B MUO%=EO@EC2!ZA04*XP)C4_G%]8M)H!4L9J-I$J:W/^J)1SG2O/=RBB?)8C;2 MS,=9!/@&DR50#%'CBY+AP@IR$(%<97XOS,L(CP;&#>U=#QHW<-[1*@0HP3T/ MUQ;V[UZ>@W;=<'LK-0OP[@1_1O!;IL?3Y#092(."D7AFT5GA2$0;BEB!)T\! MMGO#:+(*,>%X.\@&QJOJU,]$H$RH43XE%IN(IYSAIHI9$UX$@7E;(G*^2JI1 MOL5\2<7X3`Q#I9APENFY=[P-]RC7)*Z8D#YT2:C#L[\LJWM#O5-\'',?I%Z' MQM<>&6Y_`;=?*!?I7K89G<6=O%+QP,ZG67\;[VWJMCTY)ZNG50WS(+&T\/;) MQC63.!,]X00W"L!NNN\5B9U&^GAZ*\73PQX#O`JA81TCDZSMEEZ2HHI&A"E9Z;IE0PVA:[;+CJ34]B.FHTU%K:372 M;US-WU'N7H6XWH\^A`"3AYSMCTK)]2V*/79"MO$VGT[Z>L/IA'N0.M#H+&<; M58TDYI:]%+U0\LA>]:4GG3^S.Q6UQ"-/H^^!G&I;_OUH6=U%RO.C4.*]32]Z MP2%GI%2+-FFH'.3"?QZUAV[HO7M(\5997C1J2;^W2[6O`UX47`?,\_PM0?_G M`Y23/MX0LTEYINA:55X7J2'[?LRG"0V7TIF!"PM/CP:!^;[7HUP;X$_"A7GB M`K_-!F&WQP)Q"MX?J%DKA31$/DY)P!\Y$_P_-;W)NG^MI+\>GB1LAP%O:"BC MKU+<,^JAKSCSCK/"XYSJ6WDCQ8RIKXSI]);#>)H3M?UQ&C9?SFR"V82YU@_N M0N7,D?R+Q<(S8^K"@;H@=FZ+D7K0)AK:\>SC9?VY]"](S=`GI@R_MF'V9^Q` M'`G[M9YXD;D'0E,[VX7K&FZS.U('ZW;?J;&&=L#\4_;(:+L#H[9\Y+XM9D,# M5WX&L'>O/!A\8\>\F7#4\W+5K M)W^DKY=,P,I$/\S-%<4[NL26'F7TY3#\DA\5RTYZ#E!/O+&/G"TW32LOPQ3J M-8#PLUYT^Q=^_A=02P$"'@,4````"`"<@PL_+MR+OK65``#'M`4`$0`8```` M```!````I($`````:6QF8RTR,#$Q,#8S,"YX;6Q55`4``X<[1$YU>`L``00E M#@``!#D!``!02P$"'@,4````"`"<@PL_5#F21DD/``"QM```%0`8```````! M````I($`E@``:6QF8RTR,#$Q,#8S,%]C86PN>&UL550%``.'.T1.=7@+``$$ M)0X```0Y`0``4$L!`AX#%`````@`G(,+/XQMO$M]!0``TS<``!4`&``````` M`0```*2!F*4``&EL9F,M,C`Q,3`V,S!?9&5F+GAM;%54!0`#ASM$3G5X"P`! M!"4.```$.0$``%!+`0(>`Q0````(`)R#"S\6-S-F;3$``/ZS`@`5`!@````` M``$```"D@62K``!I;&9C+3(P,3$P-C,P7VQA8BYX;6Q55`4``X<[1$YU>`L` M`00E#@``!#D!``!02P$"'@,4````"`"<@PL_83*G$(D;```CH`$`%0`8```` M```!````I($@W0``:6QF8RTR,#$Q,#8S,%]P&UL550%``.'.T1.=7@+ M``$$)0X```0Y`0``4$L!`AX#%`````@`G(,+/_ELW!II"@``_%X``!$`&``` M`````0```*2!^/@``&EL9F,M,C`Q,3`V,S`N>'-D550%``.'.T1.=7@+``$$ ?)0X```0Y`0``4$L%!@`````&``8`&@(``*P#`0`````` ` end XML 15 R23.htm IDEA: XBRL DOCUMENT v2.3.0.11

Other Expenses
6 Months Ended

Jun. 30, 2011

Other Expenses [Abstract]

Other Expenses

O. Other Expenses

     Three Months Ended June 30, 2011 and 2010

     For the three month periods ended June 30, 2011 and 2010, Other expenses consist primarily of lease charges related to aircraft reclassified to or from Flight equipment held for sale.

Six Months Ended June 30, 2011 and 2010

     For the six months ended June 30, 2011, we recognized a $20 million expense related to the cancellation of an aircraft engine order. We eliminated the economic effect of the $20 million expense by negotiating with our manufacturer vendors to recover these costs. The recovery will be in two payments. One of these payments is related to a 2007 agreement with one manufacturer for us to extend our evaluation period of aircraft under order until at least 2010. This payment is contingent upon our cancelling of the aircraft order and is not contingent on placing any new order with the manufacturer. As a result of the cancellation of such aircraft order in March 2011, we recorded the related payment receivable of $10 million in Interest and other in the Condensed, Consolidated Statement of Income for the six months ended June 30, 2011. The second payment of $10 million is related to an agreement with another manufacturer, which among other contractual terms, includes a provision to reimburse us for the remaining costs associated with the March 2011 order cancellation. The reimbursement payment will be recognized as a reduction of the cost basis of future aircraft deliveries, as we determined the payment to be connected with the purchase of such aircraft. In addition to this charge, for the six months ended June 30, 2011, Other expenses include $12.2 million resulting from the write down of two notes receivable, partially offset by approximately $2.5 million aggregate lease related income, net of lease charges.

     For the six months ended June 30, 2010, Other expenses consist of lease related costs we expensed as a result of agreements with third parties to sell aircraft subject to operating leases.

X

- Details

Name: us-gaap_OtherLiabilitiesDisclosureAbstract

Namespace Prefix: us-gaap

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

The entire disclosure for other liabilities.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 20, 24
-Article 5

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.20,24)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_OtherLiabilitiesDisclosureTextBlock

Namespace Prefix: us-gaap

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

XML 16 R1.htm IDEA: XBRL DOCUMENT v2.3.0.11

Document and Entity Information
6 Months Ended

Jun. 30, 2011

Aug. 10, 2011

Document and Entity Information [Abstract]

Entity Registrant Name INTERNATIONAL LEASE FINANCE CORP

Entity Central Index Key 0000714311

Document Type 10-Q

Document Period End Date Jun. 30, 2011

Amendment Flag false

Document Fiscal Year Focus 2011

Document Fiscal Period Focus Q2

Current Fiscal Year End Date --12-31

Entity Well-known Seasoned Issuer Yes

Entity Voluntary Filers No

Entity Current Reporting Status Yes

Entity Filer Category Non-accelerated Filer

Entity Common Stock, Shares Outstanding 45,267,723

X

- Definition

If the value is true, then the document as an amendment to previously-filed/accepted document.

+ Details

Name: dei_AmendmentFlag

Namespace Prefix: dei

Data Type: xbrli:booleanItemType

Balance Type: na

Period Type: duration

X

- Definition

End date of current fiscal year in the format --MM-DD.

+ Details

Name: dei_CurrentFiscalYearEndDate

Namespace Prefix: dei

Data Type: xbrli:gMonthDayItemType

Balance Type: na

Period Type: duration

X

- Definition

This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY.

+ Details

Name: dei_DocumentFiscalPeriodFocus

Namespace Prefix: dei

Data Type: dei:fiscalPeriodItemType

Balance Type: na

Period Type: duration

X

- Definition

This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006.

+ Details

Name: dei_DocumentFiscalYearFocus

Namespace Prefix: dei

Data Type: xbrli:gYearItemType

Balance Type: na

Period Type: duration

X

- Definition

The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented. If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD.

+ Details

Name: dei_DocumentPeriodEndDate

Namespace Prefix: dei

Data Type: xbrli:dateItemType

Balance Type: na

Period Type: duration

X

- Definition

The type of document being provided (such as 10-K, 10-Q, N-1A, etc). The document type is limited to the same value as the supporting SEC submission type, minus any "/A" suffix. The acceptable values are as follows: S-1, S-3, S-4, S-11, F-1, F-3, F-4, F-9, F-10, 6-K, 8-K, 10, 10-K, 10-Q, 20-F, 40-F, N-1A, 485BPOS, 497, NCSR, N-CSR, N-CSRS, N-Q, 10-KT, 10-QT, 20-FT, and Other.

+ Details

Name: dei_DocumentType

Namespace Prefix: dei

Data Type: dei:submissionTypeItemType

Balance Type: na

Period Type: duration

X

- Definition

A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation 12B
-Number 240
-Section 12b
-Subsection 1

+ Details

Name: dei_EntityCentralIndexKey

Namespace Prefix: dei

Data Type: dei:centralIndexKeyItemType

Balance Type: na

Period Type: duration

X

- Definition

Indicate number of shares outstanding of each of registrant's classes of common stock, as of latest practicable date. Where multiple classes exist define each class by adding class of stock items such as Common Class A [Member], Common Class B [Member] onto the Instrument [Domain] of the Entity Listings, Instrument

+ Details

Name: dei_EntityCommonStockSharesOutstanding

Namespace Prefix: dei

Data Type: xbrli:sharesItemType

Balance Type: na

Period Type: instant

X

- Definition

Indicate "Yes" or "No" whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure.

+ Details

Name: dei_EntityCurrentReportingStatus

Namespace Prefix: dei

Data Type: dei:yesNoItemType

Balance Type: na

Period Type: duration

X

- Definition

Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, or (4) Smaller Reporting Company. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure.

+ Details

Name: dei_EntityFilerCategory

Namespace Prefix: dei

Data Type: dei:filerCategoryItemType

Balance Type: na

Period Type: duration

X

- Definition

The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation 12B
-Number 240
-Section 12b
-Subsection 1

+ Details

Name: dei_EntityRegistrantName

Namespace Prefix: dei

Data Type: xbrli:normalizedStringItemType

Balance Type: na

Period Type: duration

X

- Definition

Indicate "Yes" or "No" if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.

+ Details

Name: dei_EntityVoluntaryFilers

Namespace Prefix: dei

Data Type: dei:yesNoItemType

Balance Type: na

Period Type: duration

X

- Definition

Indicate "Yes" or "No" if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Is used on Form Type: 10-K, 10-Q, 8-K, 20-F, 6-K, 10-K/A, 10-Q/A, 20-F/A, 6-K/A, N-CSR, N-Q, N-1A.

+ Details

Name: dei_EntityWellKnownSeasonedIssuer

Namespace Prefix: dei

Data Type: dei:yesNoItemType

Balance Type: na

Period Type: duration

X

- Details

Name: ilfc_DocumentAndEntityInformationAbstract

Namespace Prefix: ilfc

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

XML 17 Show.js IDEA: XBRL DOCUMENT /** * Rivet Software Inc. * * @copyright Copyright (c) 2006-2011 Rivet Software, Inc. All rights reserved. * Version 2.1.0.1 * */ var moreDialog = null; var Show = { Default:'raw', more:function( obj ){ var bClosed = false; if( moreDialog != null ) { try { bClosed = moreDialog.closed; } catch(e) { //Per article at http://support.microsoft.com/kb/244375 there is a problem with the WebBrowser control // that somtimes causes it to throw when checking the closed property on a child window that has been //closed. So if the exception occurs we assume the window is closed and move on from there. bClosed = true; } if( !bClosed ){ moreDialog.close(); } } obj = obj.parentNode.getElementsByTagName( 'pre' )[0]; var hasHtmlTag = false; var objHtml = ''; var raw = ''; //Check for raw HTML var nodes = obj.getElementsByTagName( '*' ); if( nodes.length ){ objHtml = obj.innerHTML; }else{ if( obj.innerText ){ raw = obj.innerText; }else{ raw = obj.textContent; } var matches = raw.match( /<\/?[a-zA-Z]{1}\w*[^>]*>/g ); if( matches && matches.length ){ objHtml = raw; //If there is an html node it will be 1st or 2nd, // but we can check a little further. var n = Math.min( 5, matches.length ); for( var i = 0; i < n; i++ ){ var el = matches[ i ].toString().toLowerCase(); if( el.indexOf( '= 0 ){ hasHtmlTag = true; break; } } } } if( objHtml.length ){ var html = ''; if( hasHtmlTag ){ html = objHtml; }else{ html = ''+ "\n"+''+ "\n"+' Report Preview Details'+ "\n"+' '+ "\n"+''+ "\n"+''+ objHtml + "\n"+''+ "\n"+''; } moreDialog = window.open("","More","width=700,height=650,status=0,resizable=yes,menubar=no,toolbar=no,scrollbars=yes"); moreDialog.document.write( html ); moreDialog.document.close(); if( !hasHtmlTag ){ moreDialog.document.body.style.margin = '0.5em'; } } else { //default view logic var lines = raw.split( "\n" ); var longest = 0; if( lines.length > 0 ){ for( var p = 0; p < lines.length; p++ ){ longest = Math.max( longest, lines[p].length ); } } //Decide on the default view this.Default = longest < 120 ? 'raw' : 'formatted'; //Build formatted view var text = raw.split( "\n\n" ) >= raw.split( "\r\n\r\n" ) ? raw.split( "\n\n" ) : raw.split( "\r\n\r\n" ) ; var formatted = ''; if( text.length > 0 ){ if( text.length == 1 ){ text = raw.split( "\n" ) >= raw.split( "\r\n" ) ? raw.split( "\n" ) : raw.split( "\r\n" ) ; formatted = "
"+ text.join( "

\n" ) +"
"; }else{ for( var p = 0; p < text.length; p++ ){ formatted += "
" + text[p] + "
\n"; } } }else{ formatted = '
' + raw + '
'; } html = ''+ "\n"+''+ "\n"+' Report Preview Details'+ "\n"+' '+ "\n"+''+ "\n"+''+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+'
'+ "\n"+' formatted: '+ ( this.Default == 'raw' ? 'as Filed' : 'with Text Wrapped' ) +''+ "\n"+'
'+ "\n"+'
'+formatted+'
'+ "\n"+'
'+ "\n"+'
'+raw+'
'+ "\n"+'
'+ "\n"+''+ "\n"+''; moreDialog = window.open("","More","width=700,height=650,status=0,resizable=yes,menubar=no,toolbar=no,scrollbars=yes"); moreDialog.document.write(html); moreDialog.document.close(); this.toggle( moreDialog ); } moreDialog.document.title = 'Report Preview Details'; }, toggle:function( win, domLink ){ var domId = this.Default; var doc = win.document; var domEl = doc.getElementById( domId ); domEl.style.display = 'block'; this.Default = domId == 'raw' ? 'formatted' : 'raw'; if( domLink ){ domLink.innerHTML = this.Default == 'raw' ? 'with Text Wrapped' : 'as Filed'; } var domElOpposite = doc.getElementById( this.Default ); domElOpposite.style.display = 'none'; }, LastAR : null, showAR : function ( link, id, win ){ if( Show.LastAR ){ Show.hideAR(); } var ref = link; do { ref = ref.nextSibling; } while (ref && ref.nodeName != 'TABLE'); if (!ref || ref.nodeName != 'TABLE') { var tmp = win ? win.document.getElementById(id) : document.getElementById(id); if( tmp ){ ref = tmp.cloneNode(true); ref.id = ''; link.parentNode.appendChild(ref); } } if( ref ){ ref.style.display = 'block'; Show.LastAR = ref; } }, toggleNext : function( link ){ var ref = link; do{ ref = ref.nextSibling; }while( ref.nodeName != 'DIV' ); if( ref.style && ref.style.display && ref.style.display == 'none' ){ ref.style.display = 'block'; if( link.textContent ){ link.textContent = link.textContent.replace( '+', '-' ); }else{ link.innerText = link.innerText.replace( '+', '-' ); } }else{ ref.style.display = 'none'; if( link.textContent ){ link.textContent = link.textContent.replace( '-', '+' ); }else{ link.innerText = link.innerText.replace( '-', '+' ); } } }, hideAR : function(){ Show.LastAR.style.display = 'none'; } } XML 18 R12.htm IDEA: XBRL DOCUMENT v2.3.0.11

Allowance for Credit Losses
6 Months Ended

Jun. 30, 2011

Allowance for Credit Losses [Abstract]

Allowance for Credit Losses

D. Allowance for Credit Losses

     On occasion we enter into finance or sales type leases, or in limited circumstances we will advance cash, or accept a note receivable, in conjunction with the sale of an aircraft. At June 30, 2011, we had four aircraft under finance and sales type leases with aggregate principal balance of $65.7 million and notes receivable with aggregate principal balance, net of allowance, of $20.6 million. At December 31, 2010, the principal related to the four aircraft under finance leases aggregated $67.6 million and we had notes receivable with aggregate principal balance, net of allowance, of $65.1 million.

     We had the following activity in our allowance for credit losses on notes receivable for the following period:

(Dollars in thousands)

Allowance for credit losses:

Balance at December 31, 2010
$ 21,042

Provision
12,163

Write-offs
—

Recoveries
(1,531 )

Balance at June 30, 2011
$ 31,674

X

- Details

Name: ilfc_AllowanceForCreditLossesAbstract

Namespace Prefix: ilfc

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

The entire disclosure for allowance for credit losses.

+ Details

Name: us-gaap_AllowanceForCreditLossesTextBlock

Namespace Prefix: us-gaap

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

XML 19 R17.htm IDEA: XBRL DOCUMENT v2.3.0.11

Fair Value Measurements
6 Months Ended

Jun. 30, 2011

Fair Value Disclosure of Financial Instruments and Measurements [Abstract]

Fair Value Measurements

I. Fair Value Measurements

     Fair value is defined as the price that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between market participants at the measurement date. The degree of judgment used in measuring the fair value of financial instruments generally correlates with the level of pricing observability. Assets and liabilities recorded at fair value on our Condensed, Consolidated Balance Sheets are measured and classified in a hierarchy for disclosure purposes consisting of three levels based on the observability of inputs available in the marketplace used to measure the fair value. Level 1 refers to fair values determined based on quoted prices in active markets for identical assets; Level 2 refers to fair values estimated using significant other observable inputs; and Level 3 refers to fair values estimated using significant non-observable inputs.

     Assets and Liabilities Measured at Fair Value on a Recurring Basis

     The following table presents our assets and liabilities measured at fair value on a recurring basis as of June 30, 2011 and December 31, 2010, categorized using the fair value hierarchy described above.

Level 1 Level 2 Level 3 Counterparty Netting (a) Total

(Dollars in thousands)

June 30, 2011:

Derivative assets
$ — $ 254,908 $ — $ (48,004 ) $ 206,904

Derivative liabilities
— (48,004 ) — 48,004 —

Total
$ — $ 206,904 $ — $ — $ 206,904

December 31, 2010:

Derivative assets
$ — $ 116,394 $ — $ (56,244 ) $ 60,150

Derivative liabilities
— (56,244 ) — 56,244 —

Total
$ — $ 60,150 $ — $ — $ 60,150

(a) As permitted under GAAP, we have elected to offset derivative assets and derivative liabilities under our master netting agreement.

     Assets and Liabilities Measured at Fair Value on a Non-recurring Basis

     We measure the fair value of aircraft and certain other assets on a non-recurring basis, generally quarterly, annually, or when events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable.

     The fair value of an aircraft is classified as a Level 3 valuation. Fair value of flight equipment is determined using an income approach based on the present value of cash flows from contractual lease agreements, contingent rentals where appropriate, and projected future lease payments, which extend to the end of the aircraft’s economic life in its highest and best use configuration, as well as a disposition value, based on the expectations of market participants.

     We recognized impairment charges and fair value adjustments for the three and six months ended June 30, 2011 and 2010, as provided in Note E — Aircraft Impairment Charges and Fair Value Adjustments on Flight Equipment Sold or to be Disposed.

     The following table presents the effect on our condensed, consolidated financial statements as a result of the non-recurring impairment charges and fair value adjustments recorded to Flight equipment for the six months ended June 30, 2011:

Impairment

Charges and Depreciation Carrying

Book Value at Fair Value and Other Value at June

December 31, 2010 Adjustments Reclassifications Sales Adjustments 30, 2011

(Dollars in millions)

Flight equipment under operating lease
$ 331.2 $ (150.6 ) $ 75.6 $ (53.0 ) $ (11.4 ) $ 191.8

Flight equipment held for sale
262.2 3.5 (78.7 ) (181.8 ) — 5.2

Lease receivables and other assets
— — 3.1 — — 3.1

Total
$ 593.4 $ (147.1 ) $ — $ (234.8 ) $ (11.4 ) $ 200.1

X

- Definition

The entire disclosure for derivatives and fair value of assets and liabilities.

+ Details

Name: us-gaap_DerivativesAndFairValueTextBlock

Namespace Prefix: us-gaap

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

X

- Details

Name: us-gaap_FairValueDisclosuresAbstract

Namespace Prefix: us-gaap

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

XML 20 R8.htm IDEA: XBRL DOCUMENT v2.3.0.11

Condensed Consolidated Statements of Cash Flows (Parenthetical) (USD $)
In Thousands
6 Months Ended

Jun. 30, 2011

Jun. 30, 2010

Cash paid during the period for:

Interest capitalized $ 2,790 $ 3,080

Non cash investing and financing activities

Asset held for sale reclassified to flight equipment under operating leases 76,438

Amount recognized to flight equipment under operating leases reclassified from asset held for sale 78,673

Income realized for aircraft that no longer meet the definition of held for sale 2,235

Net investment in finance leases transferred to flight equipment under operating leases 192,161

Deposits on flight equipment purchases applied to acquisition of flight equipment under operating leases 50,905 29,177

Customer security deposits were forfeited and recognized in income 13,103

Lease receivables and other assets applied to acquisition of flight equipment under operating leases 11,193

Additional deposits on flight equipment purchases applied to acquisition of flight equipment under operating leases 36,799

Amount of flight equipment under operating leases transferred to other assets upon part-out of aircraft 3,050

Amount of flight equipment under operating leases transferred to lease receivables and other assets 3,225

Amount of Flight equipment under operating leases was transferred to flight equipment held for sale $ 5,220 $ 2,165,077

X

- Definition

Additional deposits on Flight Equipment Purchases Applied To Acquisition Of Flight Equipment Under Operating Leases.

+ Details

Name: ilfc_AdditionalDepositsOnFlightEquipmentPurchasesAppliedToAcquisitionOfFlightEquipmentUnderOperatingLeases

Namespace Prefix: ilfc

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

Amount Of Flight Equipment Under Operating Leases Transferred To Flight Equipment held for sale.

+ Details

Name: ilfc_AmountOfFlightEquipmentUnderOperatingLeasesTransferredToFlightEquipmentHeldForSale

Namespace Prefix: ilfc

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

Amount of flight equipment under operating leases transferred to lease receivables and other assets.

+ Details

Name: ilfc_AmountOfFlightEquipmentUnderOperatingLeasesTransferredToLeaseReceivablesAndOtherAssets

Namespace Prefix: ilfc

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

Amount of flight equipment under operating leases transferred to other assets upon part out of aircraft.

+ Details

Name: ilfc_AmountOfFlightEquipmentUnderOperatingLeasesTransferredToOtherAssetsUponPartOutOfAircraft

Namespace Prefix: ilfc

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

Amount recognized to flight equipment under operating leases reclassified from asset held for sale.

+ Details

Name: ilfc_AmountRecognizedToFlightEquipmentUnderOperatingLeasesReclassifiedFromAssetHeldForSale

Namespace Prefix: ilfc

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

Asset held for sale reclassified to flight equipment under operating leases.

+ Details

Name: ilfc_AssetHeldForSaleReclassifiedToFlightEquipmentUnderOperatingLeases

Namespace Prefix: ilfc

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Details

Name: ilfc_CashPaidDuringPeriodForAbstract

Namespace Prefix: ilfc

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

Customer security deposits were forfeited and recognized in income.

+ Details

Name: ilfc_CustomerSecurityDepositsWereForfeitedAndRecognizedInIncome

Namespace Prefix: ilfc

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

Deposits on flight equipment purchases applied to acquisition of flight equipment under operating leases.

+ Details

Name: ilfc_DepositsOnFlightEquipmentPurchasesAppliedToAcquisitionOfFlightEquipmentUnderOperatingLeases

Namespace Prefix: ilfc

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

Income realized for aircraft that no longer meet definition of held for sale.

+ Details

Name: ilfc_IncomeRealizedForAircraftThatNoLongerMeetDefinitionOfHeldForSale

Namespace Prefix: ilfc

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

Lease receivables and other assets applied ao acquisition of flight equipment under operating leases.

+ Details

Name: ilfc_LeaseReceivablesAndOtherAssetsAppliedToAcquisitionOfFlightEquipmentUnderOperatingLeases

Namespace Prefix: ilfc

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

Net investment in finance leases transferred to flight equipment under operating leases.

+ Details

Name: ilfc_NetInvestmentInFinanceLeasesTransferredToFlightEquipmentUnderOperatingLeases

Namespace Prefix: ilfc

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Details

Name: us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract

Namespace Prefix: us-gaap

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

The amount of cash paid during the current period for interest that is capitalized.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 95
-Paragraph 29
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 25
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3536-108585

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6367179&loc=d3e4297-108586

+ Details

Name: us-gaap_InterestPaidCapitalized

Namespace Prefix: us-gaap

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

XML 21 R14.htm IDEA: XBRL DOCUMENT v2.3.0.11

Flight Equipment Held for Sale
6 Months Ended

Jun. 30, 2011

Flight Equipment Held for Sale [Abstract]

Flight Equipment Held for Sale

F. Flight Equipment Held for Sale

     We had the following activity in Flight equipment held for sale for the six months ended June 30, 2011:

Aircraft Carrying Value

Flight Equipment Held for Sale (Dollars in thousands)

Balance at December 31, 2010
9 $ 255,178

Transferred from Flight equipment held for sale to Flight equipment under operating leases
(3 ) (76,438 )

Transferred from Flight equipment under operating leases to Flight equipment held for sale
1 5,220

Flight equipment sold
(6 ) (178,740 )

Flight equipment held for sale at June 30, 2011
1 $ 5,220

     At June 30, 2011 and December 31, 2010, we had one and nine aircraft, respectively, that met the criteria for, and were classified as, Flight equipment held for sale. The balance in Flight equipment held for sale of $5.2 million and $255.2 million at June 30, 2011 and December 31, 2010, respectively, represents the estimated fair value of such aircraft less cost to sell. We cease recognition of depreciation expense on aircraft subsequent to transferring them from Flight equipment under operating leases. During the six months ended June 30, 2011, we transferred three aircraft that no longer met the criteria for Flight equipment held for sale to Flight equipment under operating leases.

     In addition, we sold six aircraft that were classified as Flight equipment held for sale and recorded fair value adjustments related to those aircraft aggregating net credits of $0.3 million and $3.2 million for the three and six months ended June 30, 2011, respectively.

     Net cash proceeds from sales of flight equipment classified as held for sale is received as each individual aircraft sale is consummated. The actual purchase price may differ from the recorded estimated fair value of the aircraft when classified as held for sale, depending on the timing of the completion of a sale and, in some cases, whether an aircraft classified as held for sale is subsequently substituted with different aircraft.

X

- Definition

Flight Equipment Held for Sale

+ Details

Name: ilfc_FlightEquipmentHeldForSaleTextBlock

Namespace Prefix: ilfc

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

X

- Details

Name: us-gaap_PropertyPlantAndEquipmentAssetsHeldForSaleDisclosureAbstract

Namespace Prefix: us-gaap

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

XML 22 R19.htm IDEA: XBRL DOCUMENT v2.3.0.11

Security Deposits on Aircraft, Overhaul Rentals and Other Customer Deposits
6 Months Ended

Jun. 30, 2011

Security Deposits on Aircraft, Overhaul Rentals and Other Customer Deposits [Abstract]

Security Deposits on Aircraft, Overhaul Rentals and Other Customer Deposits

K. Security Deposits on Aircraft, Overhaul Rentals and Other Customer Deposits

     As of June 30, 2011 and 2010, Security deposits, Overhaul rentals and Other customer deposits were comprised of:

June 30,

2011 December 31, 2010

(Dollars in thousands)

Security deposits paid by lessees
$ 901,832 $ 945,195

Overhaul rentals
607,419 555,423

Other customer deposits
172,889 120,166

Total
$ 1,682,140 $ 1,620,784

X

- Details

Name: ilfc_SecurityDepositsOnAircraftOverhaulRentalsAndOtherCustomerDepositsAbstract

Namespace Prefix: ilfc

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

Security Deposits on Aircraft, Overhaul Rentals and Other Customer Deposits

+ Details

Name: ilfc_SecurityDepositsOnAircraftOverhaulRentalsAndOtherCustomerDepositsTextBlock

Namespace Prefix: ilfc

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

XML 23 R15.htm IDEA: XBRL DOCUMENT v2.3.0.11

Debt Financings
6 Months Ended

Jun. 30, 2011

Debt Financings [Abstract]

Debt Financings

G. Debt Financings

     Our debt financing was comprised of the following at the following dates:

June 30, December 31,

2011 2010

(Dollars in thousands)

Secured

Senior secured bonds
$ 3,900,000 $ 3,900,000

ECA financings
2,549,627 2,777,285

Bank debt (a)
1,601,973 1,601,658

Other secured financings
1,300,000 1,300,000

Less: Deferred debt discount
(19,901 ) (22,309 )

9,331,699 9,556,634

Unsecured

Bonds and Medium-Term Notes
14,870,562 16,810,843

Bank debt
207,000 234,600

Less: Deferred debt discount
(42,977 ) (47,977 )

15,034,585 16,997,466

Total Senior Debt Financings
24,366,284 26,554,100

Subordinated Debt
1,000,000 1,000,000

$ 25,366,284 $ 27,554,100

(a) Of this amount, $105.4 million (2011) and $113.7 million (2010) is non-recourse to ILFC. These secured financings were incurred by VIEs and consolidated into our condensed, consolidated financial statements.

     The above amounts represent the anticipated settlement of our outstanding debt obligations as of June 30, 2011 and December 31, 2010. Certain adjustments required to present currently outstanding hedged debt obligations have been recorded and presented separately on our Condensed, Consolidated Balance Sheets, including adjustments related to foreign currency hedging and interest rate hedging activities.

     For some of our secured debt financings, we created direct and indirect wholly-owned subsidiaries for the purpose of purchasing and holding title to aircraft, and we then pledged the equity of those subsidiaries as collateral. These subsidiaries have been designated as non-restricted subsidiaries under our indentures and meet the definition of a VIE. We have determined that we are the primary beneficiary of such VIEs and, accordingly, we consolidate such entities into our condensed, consolidated financial statements. See Note N — Variable Interest Entities for more information on VIEs.

     At June 30, 2011, approximately $21 billion of our flight equipment was pledged as collateral for the $9.3 billion of secured debt outstanding.

Senior Secured Bonds

     On August 20, 2010, we issued $3.9 billion of senior secured notes, with $1.35 billion maturing in September 2014 and bearing interest of 6.5%, $1.275 billion maturing in September 2016 and bearing interest of 6.75%, and $1.275 billion maturing in September 2018 and bearing interest of 7.125%. The notes are secured by a designated pool of aircraft, initially consisting of 174 aircraft and their related leases. In addition, two of ILFC’s subsidiaries, which either own or hold leases of aircraft included in the pool securing the notes, have guaranteed the notes. We can redeem the notes at any time prior to their maturity, provided we give notification between 30 to 60 days prior to the intended redemption date and subject to a penalty of the greater of 1% of the outstanding principal amount and a “make-whole” premium. There is no sinking fund for the notes.

     The indenture governing the senior secured notes contains customary covenants that, among other things, restrict our and our restricted subsidiaries’ ability to: (i) create liens; (ii) sell, transfer or otherwise dispose of assets; (iii) declare or pay dividends or acquire or retire shares of our capital stock; (iv) designate restricted subsidiaries as non-restricted subsidiaries or designate non-restricted subsidiaries; (v) make investments in or transfer assets to non-restricted subsidiaries; and (vi) consolidate, merge, sell or otherwise dispose of all, or substantially all, of our assets.

     The indenture also provides for customary events of default, including but not limited to, the failure to pay scheduled principal and interest payments on the notes, the failure to comply with covenants and agreements specified in the indenture, the acceleration of certain other indebtedness resulting from non-payment of that indebtedness, and certain events of insolvency. If any event of default occurs, any amount then outstanding under the senior secured notes may immediately become due and payable.

Export Credit Facilities

     We entered into ECA facility agreements in 1999 and 2004 through certain direct and indirect wholly-owned subsidiaries that have been designated as non-restricted subsidiaries under our indentures. The 1999 and 2004 ECA facilities were used to fund purchases of Airbus aircraft through 2001 and June 2010, respectively. New financings are no longer available to us under either ECA facility and we had no loans outstanding under the 1999 ECA facility as of June 30, 2011. The loans made under the ECA facilities were used to fund a portion of each aircraft’s net purchase price. The loans are guaranteed by various European ECAs. We have collateralized the debt with pledges of the shares of wholly-owned subsidiaries that hold title to the aircraft financed under the facilities.

     In January 1999, we entered into the 1999 ECA facility and used amounts borrowed under this facility to finance purchases of 62 Airbus aircraft through 2001. At June 30, 2011, all loans under the facility had been paid in full. The facility is, however, party to a cross-collateralization agreement relating to the 2004 ECA facility, as further discussed below. The net book value of the aircraft used as collateral under this facility was $1.5 billion at June 30, 2011.

     In May 2004, we entered into the 2004 ECA facility, which was amended in May 2009 to allow us to borrow up to $4.6 billion for the purchase of Airbus aircraft delivered through June 30, 2010. We used $4.3 billion of the available amount to finance purchases of 76 aircraft. Each aircraft purchased was financed by a ten-year fully amortizing loan. As of June 30, 2011, approximately $2.5 billion was outstanding under this facility. The interest rates on the loans outstanding under the facility are either fixed or based on LIBOR and ranged from 0.37% to 4.71% at June 30, 2011. The net book value of the aircraft purchased under this facility was $4.4 billion at June 30, 2011.

     Because of our current long-term debt ratings, the 2004 ECA facility requires us to segregate security deposits, overhaul rentals and rental payments received for aircraft with loan balances outstanding under the 2004 ECA facility (segregated rental payments are used to make scheduled principal and interest payments on the outstanding debt under the 2004 ECA facility). The segregated funds are deposited into separate accounts pledged to and controlled by the security trustee of the facility. In addition, we must register the existing individual mortgages on certain aircraft funded under both the 1999 and 2004 ECA facilities in the local jurisdictions in which the respective aircraft are registered (mortgages are only required to be filed on aircraft with loan balances outstanding or otherwise as agreed in connection with the cross-collateralization agreement as described below). At June 30, 2011, we had segregated security deposits, overhaul rentals and rental payments aggregating approximately $397 million related to aircraft funded under the 2004 ECA facility. The segregated amounts will fluctuate with changes in security deposits, overhaul rentals, rental payments and debt maturities related to the aircraft funded under the 2004 ECA facility.

     During the first quarter of 2010, we entered into agreements to cross-collateralize the 1999 ECA facility with the 2004 ECA facility. As part of such cross-collateralization we (i) guaranteed the obligations under the 2004 ECA facility through our subsidiary established to finance Airbus aircraft under our 1999 ECA facility; (ii) agreed to grant mortgages over certain aircraft financed under the 1999 ECA facility and security interests over other collateral related to the aircraft financed under the 1999 ECA facility to secure the guaranty obligation; (iii) accepted a loan-to-value ratio (aggregating the loans and aircraft from the 1999 ECA facility and the 2004 ECA facility) of no more than 50%, in order to release liens (including the liens incurred under the cross-collateralization agreement) on any aircraft financed under the 1999 or 2004 ECA facilities or other assets related to the aircraft; and (iv) agreed to allow proceeds generated from certain disposals of aircraft to be applied to obligations under the 2004 ECA facility. As of June 30, 2011, there were no outstanding obligations under the 1999 ECA facility.

     We also agreed to additional restrictive covenants relating to the 2004 ECA facility, restricting us from (i) paying dividends on our capital stock with the proceeds of asset sales and (ii) selling or transferring aircraft with an aggregate net book value exceeding a certain disposition amount, which is currently approximately $10.3 billion. The disposition amount will be reduced by approximately $91.4 million at the end of each calendar quarter during the effective period. The covenants are in effect from the date of the agreement until December 31, 2012. A breach of these restrictive covenants would result in a termination event for the ten loans funded subsequent to the date of the agreement and would make those loans, which aggregated $285.2 million at June 30, 2011, due in full at the time of such a termination event.

     In addition, if a termination event resulting in an acceleration of the obligations under the 2004 ECA facility were to occur, pursuant to the cross-collateralization agreement, we would have to segregate lease payments, overhaul rentals and security deposits received after such acceleration event occurred relating to all the aircraft funded under the 1999 ECA facility, even though those aircraft are no longer subject to a loan at June 30, 2011.

Secured Bank Debt

     We have a credit facility, dated October 13, 2006, as amended, under which the original maximum amount available was $2.5 billion. We repaid aggregate principal amounts of loans outstanding under this facility of $800 million and $200 million in the fourth quarter of 2010 and in June 2011, respectively. The amended facility prohibits us from re-borrowing amounts repaid under this facility. Therefore, the current size of the facility is $1.5 billion. As of June 30, 2011, we had secured loans of $1.29 billion outstanding under the facility, all of which will mature in October 2012. The interest on $1.25 billion of the secured loans is based on LIBOR plus a margin of 2.15%, plus facility fees of 0.2% on the outstanding principal balance and the remaining $43.0 million had an interest rate of 4.75% at June 30, 2011. The remaining $207 million outstanding under the facility consists of unsecured loans that will mature on their originally scheduled maturity date of October 13, 2011, with a LIBOR based interest rate plus a margin of 0.65% plus facility fees of 0.2% of the outstanding balance.

     The collateralization requirement under the amended facility provides that the $1.29 billion of secured loans must be secured by a lien on the equity interests of certain of ILFC’s non-restricted subsidiaries that own aircraft with aggregate appraised values of originally not less than 133% of the outstanding principal amount (the “Required Collateral Amount”). The credit facility includes an ongoing requirement, tested periodically, that the appraised value of the eligible aircraft owned by the pledged subsidiaries must be equal to or greater than 100% of the Required Collateral Amount. This ongoing requirement is subject to the right to transfer additional eligible aircraft to the pledged subsidiaries or ratably prepay the loans. We also guarantee the secured loans through certain other subsidiaries.

     The credit facility also contains financial and restrictive covenants that (i) limit our ability to incur indebtedness; (ii) restrict certain payments, liens and sales of assets by us; and (iii) require us to maintain a fixed charge coverage ratio and consolidated tangible net worth in excess of certain minimum levels.

     On March 30, 2011, one of our non-restricted subsidiaries entered into a secured term loan agreement with lender commitments in the amount of approximately $1.3 billion, which was subsequently increased to approximately $1.5 billion. The loan matures on March 30, 2018, with scheduled principal payments commencing in June 2012, and bears interest at LIBOR plus a margin of 2.75%, or, if applicable, a base rate plus a margin of 1.75%. The obligations of the subsidiary borrower are guaranteed on an unsecured basis by ILFC and on a secured basis by certain wholly-owned subsidiaries of the subsidiary borrower. The security granted initially includes a portfolio of 54 aircraft, together with attached leases and all related equipment, with an average appraised base market value of approximately $2.4 billion as of January 1, 2011. The $2.4 billion equals an initial loan-to-value ratio of approximately 65% and the equity interests in certain SPEs that will own the aircraft and related equipment and leases that are pledged as security for the loans. The proceeds of the loan will be made available to the subsidiary borrower as aircraft are transferred to the SPEs, at an advance rate equal to 65% of the initial appraised value of the aircraft transferred to the SPEs. At June 30, 2011 and August 5, 2011, respectively, approximately $181 million and $696 million had been advanced to the subsidiary borrower under the agreement.

     The subsidiary borrower will be required to maintain compliance with a maximum loan-to-value ratio, which varies over time, as set forth in the term loan agreement. If the subsidiary borrower does not maintain compliance with the maximum loan-to-value ratio, it will be required to either prepay portions of the outstanding loans or transfer additional aircraft to SPEs, subject to certain concentration criteria, so that the ratio is equal to or less than the maximum loan-to-value ratio.

     We can voluntarily prepay the loan at any time, subject to a 2% prepayment penalty prior to March 30, 2012, and a 1% prepayment penalty between March 30, 2012 and March 30, 2013. The loan facility contains customary covenants and events of default, including covenants that limit the ability of the subsidiary borrower and its subsidiaries to (i) incur additional indebtedness; (ii) create liens; (iii) consolidate, merge or dispose of all or substantially all of their assets; and (iv) enter into transactions with affiliates.

     In May 2009, ILFC provided $39.0 million of subordinated financing to a non-restricted subsidiary. The entity used these funds and an additional $106.0 million borrowed from third parties to purchase an aircraft, which it leases to an airline. ILFC acts as servicer of the lease for the entity. The $106.0 million loan has two tranches. The first tranche is $82.0 million, fully amortizes over the lease term, and is non-recourse to ILFC. The second tranche is $24.0 million, partially amortizes over the lease term, and is guaranteed by ILFC. Both tranches of the loan are secured by the aircraft and the lease receivables. Both tranches mature in May 2018 with interest rates based on LIBOR. At June 30, 2011, the interest rates on the $82.0 million and $24.0 million tranches were 3.34% and 5.04%, respectively. The entity entered into two interest rate cap agreements to economically hedge the related LIBOR interest rate risk in excess of 4.00%. At June 30, 2011, $83.8 million was outstanding under the two tranches and the net book value of the aircraft was $134.7 million.

  In June 2009, we borrowed $55.4 million through a non-restricted subsidiary, which owns one aircraft leased to an airline. Half of the original loan amortizes over five years and the remaining $27.7 million is due in 2014. The loan is non-recourse to ILFC and is secured by the aircraft and the lease receivables. The interest rate on the loan is fixed at 6.58%. At June 30, 2011, $43.7 million was outstanding and the net book value of the aircraft was $89.8 million.

Other Secured Financing Arrangements

     On March 17, 2010, we entered into a $750 million term loan agreement secured by 43 aircraft and all related equipment and leases. The aircraft had an average appraised base market value of approximately $1.3 billion, for an initial loan-to-value ratio of approximately 56%. The loan matures on March 17, 2015, and bears interest at LIBOR plus a margin of 4.75% with a LIBOR floor of 2.0%. The principal of the loan is payable in full at maturity with no scheduled amortization, but we can voluntarily prepay the loan at any time. On March 17, 2010, we also entered into an additional term loan agreement of $550 million through a newly formed non-restricted subsidiary. The obligations of the subsidiary borrower are guaranteed on an unsecured basis by ILFC and on a secured basis by certain non-restricted subsidiaries of ILFC that hold title to 37 aircraft. The aircraft had an average appraised base market value of approximately $969 million, for an initial loan-to-value ratio of approximately 57%. The loan matures on March 17, 2016, and bears interest at LIBOR plus a margin of 5.0% with a LIBOR floor of 2.0%. The principal of the loan is payable in full at maturity with no scheduled amortization. The proceeds from this loan are restricted from use in our operations until we transfer the related collateral to the non-restricted subsidiaries. At June 30, 2011, approximately $24 million of the proceeds remained restricted. We can voluntarily prepay the loan at any time, subject to a 1% prepayment penalty prior to March 17, 2012. Both loans require a loan-to-value ratio of no more than 63%. The loans also contain customary covenants and events of default, including limitations on the ability of us and our subsidiaries, as applicable, to create liens; incur additional indebtedness; consolidate, merge, sell or otherwise dispose of all or substantially all of our assets; and enter into transactions with affiliates.

     The subsidiary borrower will be required to maintain compliance with a maximum loan-to-value ratio, which varies over time, as set forth in the term loan agreement. If the subsidiary borrower does not maintain compliance with the maximum loan-to-value ratio, it will be required to either prepay portions of the outstanding loans or transfer additional aircraft to SPEs, subject to certain concentration criteria, so that the ratio is equal to or less than the maximum loan-to-value ratio.

Unsecured Bonds and Medium-Term Notes

     Shelf Registration Statement: We have an effective shelf registration statement filed with the SEC. As a result of our WKSI status, we have an unlimited amount of debt securities registered for sale under the shelf registration statement.

     Under our shelf registration statement, we issued: (i) $1.0 billion of 5.75% notes due 2016 and $1.25 billion of 6.25% notes due 2019 on May 24, 2011; (ii) $1.0 billion of 8.25% notes due 2020 on December 7, 2010; and (iii) $500 million of 8.875% notes due 2017 on August 20, 2010. At June 30, 2011, after the completion of tender offers to purchase certain notes on June 17, 2011, as further discussed below, we also had $7.2 billion of public bonds and medium-term notes outstanding, with interest rates ranging from 0.60% to 7.95%, which we had issued in prior years under previous registration statements.

     The aggregate net proceeds from the sale of the notes issued on May 24, 2011, were approximately $2.22 billion after deducting underwriting discounts and commissions, fees and estimated offering expenses. The net proceeds from the sale of the notes were primarily used to purchase notes validly tendered and accepted in our tender offers that we announced during the second quarter of 2011 to purchase various series of our outstanding debt securities for up to $1.75 billion cash consideration.

     Tender Offers to Purchase Notes: On June 17, 2011, we completed the above mentioned tender offers and accepted for purchase previously issued notes with an aggregate principal amount of approximately $1.67 billion, resulting in total cash consideration, including accrued and unpaid interest, of approximately $1.75 billion. In connection with the cancellation of the notes, we recognized losses aggregating approximately $61.1 million, which included the cost of repurchasing the notes and the write off of the remaining unamortized deferred financing costs. The following notes were accepted for purchase by us in the tender offers:

Aggregate Aggregate

Principal Amount Principal Amount

Outstanding Total Principal Outstanding upon

before Tender Amount Accepted Completion of

Offers (a) for Purchase (b) Tender Offers

Title of Security (Dollars in thousands)

4.750% Medium-Term Notes, Series Q, due January 13, 2012
$ 500,000 $ 293,496 $ 206,504

5.400% Medium-Term Notes, Series R, due February 15, 2012
750,000 386,623 363,377

5.350% Medium-Term Notes, Series R, due March 1, 2012
600,000 265,371 334,629

5.300% Medium-Term Notes, Series R, due May 1, 2012
850,000 402,993 447,007

5.550% Medium-Term Notes, Series Q, due September 5, 2012
300,000 100,872 199,128

5.000% Medium-Term Notes, Series Q, due September 15, 2012
300,000 103,564 196,436

5.250% Medium-Term Notes, Series Q, due January 10, 2013
300,000 72,234 227,766

6.375% Medium-Term Notes, Series R, due March 25, 2013
1,000,000 47,146 952,854

Total
$ 4,600,000 $ 1,672,299 $ 2,927,701

(a) As of June 2, 2011.

(b) Includes notes that were validly tendered and accepted on June 2, 2011, and for which payment was settled on June 3, 2011.

     Euro Medium-Term Note Programme: We have a $7.0 billion Euro Medium-Term Note Programme, which will expire in September 2011. We had approximately $1.2 billion of Euro denominated notes outstanding under such Programme at June 30, 2011. The notes mature on August 15, 2011, and bear interest based on Euribor with a spread of 0.375%. As a bond issue matures, the principal amount of that bond becomes available for new issuances under the Programme. We have eliminated the currency exposure arising from the notes by hedging the notes into U.S. dollars and fixing the interest rates at a range of 5.355% to 5.367%. We translate the debt into U.S. dollars using current exchange rates prevailing at the balance sheet date. The foreign exchange adjustment for the foreign currency denominated notes was $281.6 million and $165.4 million at June 30, 2011 and December 31, 2010, respectively.

     A rollforward for the six months ended June 30, 2011, of the foreign currency adjustment related to foreign currency denominated notes is presented below:

(Dollars in thousands)

Foreign currency adjustment related to foreign currency denominated debt at December 31, 2010
$ 165,400

Foreign currency period adjustment of non-US$ denominated debt
116,200

Foreign currency adjustment related to foreign currency denominated debt at June 30, 2011
$ 281,600

     Other Senior Notes: On March 22, 2010 and April 6, 2010, we issued a combined $1.25 billion aggregate principal amount of 8.625% senior notes due September 15, 2015, and $1.5 billion aggregate principal amount of 8.750% senior notes due March 15, 2017, pursuant to an indenture dated as of March 22, 2010. The notes are due in full on their scheduled maturity dates. The notes are not subject to redemption prior to their stated maturity and there are no sinking fund requirements. In connection with the note issuances, we entered into registration rights agreements obligating us to, among other things, complete a registered exchange offer to exchange the notes of each series for new registered notes of such series with substantially identical terms, or register the notes pursuant to a shelf registration statement.

     The annual interest rate on the affected notes increased by 0.25% per year for 90 days, commencing on January 26, 2011, because the registration statement relating to the exchange offer was not declared effective by the SEC by that date, as required under the registration rights agreement. On April 26, 2011, the annual interest rate on the affected notes increased by an additional 0.25% because we were unable to consummate the exchange offer by such date. We completed the exchange offer on May 5, 2011, at which time the applicable interest rate reverted to the original level.

     The indenture governing the notes contains customary covenants that, among other things, restrict our, and our restricted subsidiaries’, ability to (i) incur liens on assets; (ii) declare or pay dividends or acquire or retire shares of our capital stock during certain events of default; (iii) designate restricted subsidiaries as non-restricted subsidiaries or designate non-restricted subsidiaries; (iv) make investments in or transfer assets to non-restricted subsidiaries; and (v) consolidate, merge, sell, or otherwise dispose of all or substantially all of our assets.

     The indenture also provides for customary events of default, including but not limited to, the failure to pay scheduled principal and interest payments on the notes, the failure to comply with covenants and agreements specified in the indenture, the acceleration of certain other indebtedness resulting from non-payment of that indebtedness, and certain events of insolvency. If any event of default occurs, any amount then outstanding under the senior notes may immediately become due and payable.

Unsecured Bank Debt

     On January 31, 2011, we entered into a new $2.0 billion unsecured three-year revolving credit facility with a group of 11 banks that will expire on January 31, 2014. This revolving credit facility provides for interest rates based on either a base rate or LIBOR plus an applicable margin determined by a ratings-based pricing grid. The credit agreement contains customary events of default and restrictive financial covenants that require us to maintain a minimum fixed charge coverage ratio, a minimum consolidated tangible net worth and a maximum ratio of consolidated debt to consolidated tangible net worth. As of June 30, 2011, no amounts were outstanding under this revolving facility.

     As of June 30, 2011, $207.0 million of unsecured loans were outstanding under our credit agreement dated as of October 13, 2006. These loans remain unsecured and mature on October 13, 2011, the original maturity date for this credit facility. The interest on the loans is based on LIBOR plus a margin of 0.65% plus facility fees of 0.2% of the outstanding balance. The remaining outstanding loans under the agreement, as amended, are secured. See Secured Bank Debt above.

Subordinated Debt

     In December 2005, we issued two tranches of subordinated debt totaling $1.0 billion. Both tranches mature on December 21, 2065, but each tranche has a different call option. The $600 million tranche had a call option date of December 21, 2010, and the $400 million tranche has a call option date of December 21, 2015. We did not exercise the call option at December 21, 2010 and the interest rate on the $600 million tranche changed from a fixed interest rate of 5.90% to a floating rate with an initial credit spread of 1.55% plus the highest of (i) 3 month LIBOR; (ii) 10-year constant maturity treasury; and (iii) 30-year constant maturity treasury. The interest will reset quarterly and at June 30, 2011, the interest rate was 5.74%. The $400 million tranche has a fixed interest rate of 6.25% until the 2015 call option date, and if we do not exercise the call option, the interest rate will change to a floating rate, reset quarterly, based on the initial credit spread of 1.80% plus the highest of (i) 3 month LIBOR; (ii) 10-year constant maturity treasury; and (iii) 30-year constant maturity treasury. If we choose to redeem the $600 million tranche, we must pay 100% of the principal amount of the bonds being redeemed, plus any accrued and unpaid interest to the redemption date. If we choose to redeem only a portion of the outstanding bonds, at least $50 million principal amount of the bonds must remain outstanding.

X

- Details

Name: us-gaap_DebtDisclosureAbstract

Namespace Prefix: us-gaap

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.19,20,22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 129
-Paragraph 2, 4
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 19, 20, 22
-Article 5

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

+ Details

Name: us-gaap_DebtDisclosureTextBlock

Namespace Prefix: us-gaap

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

XML 24 R13.htm IDEA: XBRL DOCUMENT v2.3.0.11

Aircraft Impairment Charges and Fair Value Adjustments on Flight Equipment Sold or to be Disposed of
6 Months Ended

Jun. 30, 2011

Aircraft Impairment Charges and Fair Value Adjustments on Flight Equipment Sold or to be Disposed of [Abstract]

Aircraft Impairment Charges and Fair Value Adjustments on Flight Equipment Sold or to be Disposed of

E. Aircraft Impairment Charges and Fair Value Adjustments on Flight Equipment Sold or to be Disposed

     We reported the following impairment charges and fair value adjustments on flight equipment during the three and six months ended June 30, 2011 and 2010, respectively:

Three Months Ended Six Months Ended

June 30, 2011 June 30, 2010 June 30, 2011 June 30, 2010

Aircraft Impairment Aircraft Impairment Aircraft Impairment Aircraft Impairment

Impaired Charges and Impaired Charges and Impaired Charges and Impaired Charges and

or Fair Value or Fair Value or Fair Value or Fair Value

Adjusted Adjustments Adjusted Adjustments Adjusted Adjustments Adjusted Adjustments

Loss/(Gain) (Dollars in millions)

Impairment charges and fair value adjustments on aircraft likely to be sold or sold
5 $ 41.1 — (b) $ 0.5 14 $ 148.1 2 $ 32.7

Fair value adjustments on held for sale aircraft sold or transferred from held for sale back to flight equipment under operating leases (a)
2 2.7 6 40.1 10 (3.5 ) 56 361.3

Impairment charges on aircraft designated for part-out
— — 1 12.4 1 2.5 1 12.4

Total Impairment charges and fair value adjustments on flight equipment
7 $ 43.8 7 $ 53.0 25 $ 147.1 59 $ 406.4

(a) Included in these amounts are net fair value credit adjustments related to aircraft previously held for sale, but which no longer met such criteria and were subsequently reclassified to Flight equipment under operating leases. Also included in these amounts are fair value credit adjustments related to sales price adjustments related to aircraft that were previously held for sale and sold during periods presented.

(b) Amounts relate to two aircraft that were previously impaired, but additional fair value adjustments were recorded in the current period.

Three months ended June 30, 2011

     Aircraft impairment charges and fair value adjustments on flight equipment totaled $43.8 million for the three months ended June 30, 2011, due to the following factors:

• $41.1 million of impairment charges and fair value adjustments were recorded on five aircraft. This amount was the result of (i) $41.9 million of impairment charges on aircraft that we were in negotiations with third parties to sell and we deemed more likely than not to be sold, but did not meet the criteria required to be classified as Flight equipment held for sale; and (ii) fair value adjustments on aircraft sold to third parties from our fleet held for use aggregating a net credit of $0.8 million.

• $2.7 million of fair value adjustments were recorded on aircraft reclassified to or from Flight equipment held for sale. During the three months ended June 30, 2011, we had one aircraft that met the criteria for and was classified as Flight equipment held for sale. In addition, we determined that one aircraft we had previously classified as Flight equipment held for sale no longer met the criteria and reclassified that aircraft to Flight equipment under operating lease during the three months ended June 30, 2011. In accordance with GAAP, we recorded the aircraft at the lower of depreciated cost, had the aircraft never been classified as Flight equipment held for sale, or its fair value at the date of the reclassification of the aircraft.

• We did not have any impairment charges on aircraft designated for part-out for the three months ended June 30, 2011.

Three months ended June 30, 2010

     Aircraft impairment charges and fair value adjustments on flight equipment totaled $53.0 million for the three months ended June 30, 2010, due to the following factors:

• $0.5 million of fair value adjustments were recorded on two aircraft we deemed more likely than not to be sold.

• $40.1 million of impairment charges were recorded on six aircraft that met the criteria for and were classified as Flight equipment held for sale.

• $12.4 million of impairment charges were recorded due to the designation of one aircraft for part-out to record the parts at their fair value. The fair value of the parts is included in Lease receivables and other assets on our Condensed, Consolidated Balance Sheet.

Six months ended June 30, 2011

     Aircraft impairment charges and fair value adjustments on flight equipment totaled $147.1 million for the six months ended June 30, 2011, due to the following factors:

• $148.1 million of impairment charges and fair value adjustments were recorded relating to (i) fair value adjustments aggregating $17.3 million on five aircraft sold to third parties from our fleet held for use; and (ii) impairment charges of $130.8 million on nine aircraft that we were in negotiations with third parties to sell and we deemed more likely than not to be sold, but did not meet the criteria required to be classified as Flight equipment held for sale.

• $3.5 million of fair value credit adjustments were recorded on aircraft reclassified to or from Flight equipment held for sale. During the six months ended June 30, 2011, we had one aircraft that met the criteria for and was classified as Flight equipment held for sale. In addition, we determined that three aircraft that we had previously classified as Flight equipment held for sale no longer met the criteria and reclassified those aircraft to Flight equipment under operating lease. In accordance with GAAP, we recorded the three aircraft at the lower of depreciated cost, had the aircraft never been classified as Flight equipment held for sale, or its fair value at the date of the reclassification of the aircraft. We recorded fair value credit adjustments of $0.3 million related to these aircraft. We also sold six aircraft that were classified as Flight equipment held for sale, and recorded fair value adjustments related to those aircraft aggregating a net credit of $3.2 million.

• $2.5 million of impairment charges were recorded due to the designation of one aircraft for part-out to record the parts at their fair value. The fair value of the parts is included in Lease receivables and other assets on our Condensed, Consolidated Balance Sheet.

Six months ended June 30, 2010

     Aircraft impairment charges and fair value adjustments on flight equipment totaled $406.4 million for the six months ended June 30, 2010, due to the following factors:

• $32.7 million of impairment charges were recorded on two aircraft that we were in negotiations with third parties to sell and we deemed more likely than not to be sold, but did not meet the criteria required to be classified as Flight equipment held for sale.

• $361.3 million of impairment charges were recorded on 56 aircraft reclassified to Flight equipment held for sale. On April 13, 2010, to generate liquidity to repay maturing debt obligations, we signed an agreement to sell 53 aircraft from our existing fleet to a third party for an aggregate purchase price of approximately $2.0 billion. On July 6, 2010, we signed an agreement to sell an additional six aircraft to another third party. As of June 30, 2010, 56 of the 59 aircraft met the criteria to be recorded as Flight equipment held for sale.

• $12.4 million of impairment charges were recorded due to the designation of one aircraft for part-out to record the parts at their fair value. The fair value of the parts is included in Lease receivables and other assets on our Condensed, Consolidated Balance Sheet.

X

- Definition

Aircraft Impairment Charges and Fair Value Adjustments on Flight Equipment Sold or to be Disposed of

+ Details

Name: ilfc_AircraftImpairmentChargesAndFairValueAdjustmentsOnFlightEquipmentSoldOrToBeDisposedOfTextBlock

Namespace Prefix: ilfc

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

X

- Details

Name: us-gaap_PropertyPlantAndEquipmentImpairmentOrDisposalAbstract

Namespace Prefix: us-gaap

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

XML 25 R6.htm IDEA: XBRL DOCUMENT v2.3.0.11

Condensed Consolidated Statements of Comprehensive Income (Unaudited) (Parenthetical) (USD $)
In Thousands
3 Months Ended 6 Months Ended

Jun. 30, 2011

Jun. 30, 2010

Jun. 30, 2011

Jun. 30, 2010

OTHER COMPREHENSIVE INCOME

Taxes on changes in fair value of cash flow hedges $ (4,805) $ (13,485) $ (10,965) $ (40,172)

Taxes on securities available for sale $ 114 $ 79 $ 114 $ 66

X

- Definition

Total tax effect of the change in accumulated gains and losses from derivative instruments designated and qualifying as the effective portion of cash flow hedges. The change includes an entity's share of an equity investee's increase or decrease in deferred hedging gains or losses. While for technical reasons this element has no balance attribute, the default assumption is a credit balance consistent with its label.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 130
-Paragraph 25
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e640-108580

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 38
-Subparagraph c(3)
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Name: us-gaap_OtherComprehensiveIncomeDerivativesQualifyingAsHedgesTaxEffectPeriodIncreaseDecrease

Namespace Prefix: us-gaap

Data Type: xbrli:monetaryItemType

Balance Type: na

Period Type: duration

X

- Details

Name: us-gaap_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract

Namespace Prefix: us-gaap

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

Tax effect on gross appreciation or the gross loss in value of the total of unsold securities during the period being reported on.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 130
-Paragraph 25
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e640-108580

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 38
-Subparagraph c(3)
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Name: us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax

Namespace Prefix: us-gaap

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

XML 26 R9.htm IDEA: XBRL DOCUMENT v2.3.0.11

Basis of Preparation
6 Months Ended

Jun. 30, 2011

Basis of Preparation [Abstract]

Basis of Preparation

A. Basis of Preparation

     ILFC is an indirect wholly-owned subsidiary of AIG. AIG is a holding company, which, through its subsidiaries, is primarily engaged in a broad range of insurance and insurance-related activities in the United States and abroad. The accompanying unaudited, condensed, consolidated financial statements have been prepared in accordance with GAAP for interim financial information and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements.

     The accompanying unaudited, condensed, consolidated financial statements include our accounts and accounts of all other entities in which we have a controlling financial interest. See Note N — Variable Interest Entities for further discussions on VIEs. All material intercompany accounts have been eliminated in consolidation.

     Results for the three and six month periods ended June 30, 2011 include an out of period adjustment related to prior quarters and years which increased pre-tax income by $8.1 million and $8.3 million, respectively. The out of period adjustment relates principally to the forfeiture of share-based deferred compensation awards for certain employees who terminated their employment with us in 2010. Management has determined, after evaluating the quantitative and qualitative aspects of this out of period adjustment, that our current and prior period financial statements are not materially misstated and will not be material to our estimated results of operations for the year ended December 31, 2011.

     In the opinion of management, all adjustments considered necessary for a fair statement of the results for the interim periods presented have been included. Certain reclassifications have been made to the 2010 unaudited, condensed, consolidated financial statements to conform to the 2011 presentation. Operating results for the six months ended June 30, 2011, are not necessarily indicative of the results that may be expected for the year ending December 31, 2011. These statements should be read in conjunction with the consolidated financial statements and footnotes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2010.

X

- Details

Name: us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract

Namespace Prefix: us-gaap

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 720
-SubTopic 15
-URI http://asc.fasb.org/subtopic&trid=2122524

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6921930&loc=d3e5614-111684

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=6970148&loc=SL6228881-111685

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Name Statement of Position (SOP)
-Publisher AICPA
-Number 94-6
-Paragraph 10
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 272
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6373374&loc=d3e70478-108055

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6359566&loc=d3e326-107755

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Staff Position (FSP)
-Number FAS140-4/FIN46(R)-8
-Paragraph 8, C1, C7
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Name FASB Interpretation (FIN)
-Publisher FASB
-Number 46R
-Paragraph 4, 14, 15
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 852
-SubTopic 10
-URI http://asc.fasb.org/subtopic&trid=2209116

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 275
-SubTopic 10
-URI http://asc.fasb.org/subtopic&trid=2134480

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 2-6
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 915
-SubTopic 235
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6472506&loc=d3e38932-110933

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 10
-URI http://asc.fasb.org/subtopic&trid=2122150

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 10
-Section 45
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6359553&loc=d3e288-107754

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6367646&loc=d3e18780-107790

Reference 16: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-URI http://asc.fasb.org/subtopic&trid=2197480

+ Details

Name: us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock

Namespace Prefix: us-gaap

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

XML 27 R10.htm IDEA: XBRL DOCUMENT v2.3.0.11

Recent Accounting Pronouncements
6 Months Ended

Jun. 30, 2011

Recent Accounting Pronouncements [Abstract]

Recent Accounting Pronouncements

B. Recent Accounting Pronouncements

     We did not adopt any new accounting standards during the first six months of 2011.

Future Application of Accounting Standards:

A Creditor’s Determination of Whether a Restructuring is a Troubled Debt Restructuring

     In April 2011, the FASB issued an accounting standard update that amends the guidance for a creditor’s evaluation of whether a restructuring is a troubled debt restructuring and requires additional disclosures about a creditor’s troubled debt restructuring activities. The new standard clarifies the existing guidance on the two criteria used by creditors to determine whether a modification or restructuring is a troubled debt restructuring: (i) whether the creditor has granted a concession and (ii) whether the debtor is experiencing financial difficulties. The new standard is effective for interim and annual periods beginning on July 1, 2011, with early adoption permitted. We are required to apply the guidance in the accounting standard retrospectively for all modifications and restructuring activities that have occurred since January 1, 2011. For receivables that are considered newly impaired under the guidance, we are required to measure the impairment of those receivables prospectively in the first period of adoption. In addition, we must begin providing the disclosures about troubled debt restructuring activities in the period of adoption. We are currently assessing the effect of adoption of this new standard on our consolidated financial position, results of operations and cash flows.

Common Fair Value Measurements and Disclosure Requirements in GAAP and IFRS

     In May 2011, the FASB issued an accounting standard update that amends certain aspects of the fair value measurement guidance in GAAP, primarily to achieve the FASB’s objective of a converged definition of fair value and substantially converged measurement and disclosure guidance with IFRS. Consequently, when the new standard becomes effective on January 1, 2012, GAAP and IFRS will be consistent, with certain exceptions including the accounting for day one gains and losses, measuring the fair value of alternative investments measured on a net asset value basis and certain disclosure requirements.

     The new standard’s fair value guidance applies to all companies that measure assets, liabilities, or instruments classified in shareholders’ equity at fair value or provide fair value disclosures for items not recorded at fair value. While many of the amendments to GAAP are not expected to significantly affect current practice, the guidance clarifies how a principal market is determined, addresses the fair value measurement of financial instruments with offsetting market or counterparty credit risks and the concept of valuation premise (i.e., in-use or in exchange) and highest and best use, extends the prohibition on blockage factors to all three levels of the fair value hierarchy, and requires additional disclosures.

     The new standard is effective for us for interim and annual periods beginning on January 1, 2012. If different fair value measurements result from applying the new standard, we will recognize the difference in the period of adoption as a change in estimate. The new disclosure requirements must be applied prospectively. In the period of adoption, we will disclose any changes in valuation techniques and related inputs resulting from application of the amendments and quantify the total effect, if material. We are assessing the effect of the new standard on our consolidated statements of financial position, results of operations and cash flows.

Presentation of Comprehensive Income

     In June 2011, the FASB issued an accounting standard update that requires the presentation of comprehensive income either in a single continuous statement of comprehensive income or in two separate but consecutive statements. In the two-statement approach, the first statement should present total net income and its components, followed consecutively by a second statement that presents total other comprehensive income and its components. This presentation is effective January 1, 2012, and is required to be applied retrospectively. Early adoption is permitted. Adoption of the new standard will have no effect on our consolidated financial statements because we already use the two-statement approach to present comprehensive income.

X

- Definition

Recent Accounting Pronouncements

+ Details

Name: ilfc_NewAccountingPronouncementsTextBlock

Namespace Prefix: ilfc

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

X

- Details

Name: us-gaap_NewAccountingPronouncementsAndChangesInAccountingPrinciplesAbstract

Namespace Prefix: us-gaap

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

XML 28 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; word-wrap: break-word; } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } XML 29 R18.htm IDEA: XBRL DOCUMENT v2.3.0.11

Fair Value Disclosures of Financial Instruments
6 Months Ended

Jun. 30, 2011

Fair Value Disclosure of Financial Instruments and Measurements [Abstract]

Fair Value Disclosures of Financial Instruments

J. Fair Value Disclosures of Financial Instruments

     We used the following methods and assumptions in estimating our fair value disclosures for financial instruments:

     Cash: The carrying value reported on the balance sheet for cash and cash equivalents approximates its fair value.

     Notes Receivable: The fair values for notes receivable are estimated using discounted cash flow analyses, using market derived discount rates.

     Debt Financing: The fair value of our long-term fixed rate debt is estimated using discounted cash flow analyses, based on our spread to U.S. Treasury bonds for similar debt at year end. The fair value of our long-term floating rate debt is estimated using discounted cash flow analysis based on credit default spreads.

     Derivatives: Fair values were based on the use of a valuation model that utilizes, among other things, current interest, foreign exchange and volatility rates, as applicable.

     The carrying amounts and fair values of our financial instruments at June 30, 2011 and December 31, 2010, are as follows:

June 30, 2011 December 31, 2010

Carrying Amount Fair Value of Carrying Amount of Fair Value of

of Asset (Liability) Asset (Liability) Asset (Liability) Asset (Liability)

(Dollars in thousands)

Cash, including restricted cash
$ 2,559,523 (a) $ 2,559,523 $ 3,524,750 (a) $ 3,524,750

Notes receivable
20,628 19,548 65,065 64,622

Debt financing (including subordinated debt and foreign currency adjustment)
(25,647,884 ) (26,750,239 ) (27,719,500 ) (28,267,765 )

Derivative assets
206,904 206,904 60,150 60,150

(a) Includes restricted cash of $421.0 million (2011) and $457.1 million (2010).

X

- Details

Name: us-gaap_FairValueDisclosuresAbstract

Namespace Prefix: us-gaap

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6925170&loc=d3e19296-110258

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 159
-Paragraph 17-22, 27, 28
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=6947722&loc=d3e13433-108611

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 15C, 15D
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14064-108612

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 16
-URI http://asc.fasb.org/extlink&oid=6947722&loc=d3e13504-108611

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 15A
-Subparagraph a-d
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 21
-URI http://asc.fasb.org/extlink&oid=6947722&loc=d3e13537-108611

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 133
-Paragraph 44A, 44B
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6925170&loc=d3e19207-110258

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 3, 10, 14, 15
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 15B
-Subparagraph a, b
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 157
-Paragraph 32, 33, 34
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Name: us-gaap_FairValueDisclosuresTextBlock

Namespace Prefix: us-gaap

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

XML 30 R11.htm IDEA: XBRL DOCUMENT v2.3.0.11

Restricted Cash
6 Months Ended

Jun. 30, 2011

Restricted Cash [Abstract]

Restricted Cash

C. Restricted Cash

     We entered into ECA facility agreements in 1999 and 2004 through subsidiaries. See Note G — Debt Financings. We had no loans outstanding under the 1999 ECA facility as of June 30, 2011. Because of our current long-term debt ratings, the 2004 ECA facility requires us to segregate security deposits, overhaul rentals and rental payments received under the leases of the aircraft funded under the 2004 ECA facility (segregated rental payments are used to make scheduled principal and interest payments on the outstanding debt). The segregated funds are deposited into separate accounts pledged to and controlled by the security trustee of the 2004 ECA facility. At June 30, 2011, we had segregated security deposits, overhaul rentals and rental payments aggregating approximately $397 million related to aircraft funded under the 2004 ECA facility. The segregated amounts fluctuate with changes in security deposits, overhaul rentals, rental payments and debt maturities related to the aircraft funded under the 2004 ECA facility. In addition, if a default resulting in an acceleration of the obligations under the 2004 ECA facility were to occur, pursuant to a cross- collateralization agreement, we would have to segregate lease payments, overhaul rentals and security deposits received after such acceleration event occurred relating to all the aircraft funded under the 1999 ECA facility, even though those aircraft are no longer subject to a loan at June 30, 2011.

     In March 2010, we entered into a $550 million secured term loan through a newly formed subsidiary. The proceeds from this transaction are restricted until the collateral is transferred to certain of our subsidiaries that guarantee the debt on a secured basis and whose equity were pledged to secure the term loan and at June 30, 2011, approximately $24 million of the proceeds remained restricted.

     The subsidiaries described above meet the definition of a VIE and have been designated as non-restricted subsidiaries, under our indentures. See Note G — Debt Financings and Note N - Variable Interest Entities.

X

- Definition

Restricted Cash

+ Details

Name: ilfc_RestrictedCashTextBlock

Namespace Prefix: ilfc

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

X

- Details

Name: us-gaap_RestrictedCashAndInvestmentsAbstract

Namespace Prefix: us-gaap

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

XML 31 R21.htm IDEA: XBRL DOCUMENT v2.3.0.11

Commitments and Contingencies
6 Months Ended

Jun. 30, 2011

Commitments and Contingencies [Abstract]

Commitments and Contingencies

M. Commitments and Contingencies

     Guarantees

• Asset Value Guarantees: We have guaranteed a portion of the residual value of 20 aircraft to financial institutions and other unrelated third parties for a fee. These guarantees expire at various dates through 2023 and generally obligate us to pay the shortfall between the fair market value and the guaranteed value of the aircraft and provide us with an option to purchase the aircraft for the guaranteed value. At June 30, 2011, the maximum aggregate potential commitment that we were obligated to pay under such guarantees, without any offset for the projected value of the aircraft, was approximately $470 million.

• Aircraft Loan Guarantees: We guarantee two loans collateralized by aircraft to financial institutions. The guarantees expire in 2014, when the loans mature, and obligate us to pay an amount up to the guaranteed value upon the default of the borrower, which may be offset by a portion of the underlying value of the aircraft collateral. At June 30, 2011, the guaranteed value, without any offset for the projected value of the aircraft, was approximately $20 million.

     Management regularly reviews the underlying values of the aircraft collateral to determine our exposure under these guarantees. The next strike date for asset value guarantees is in the fourth quarter of 2011. If called upon to perform under these contracts, our maximum exposure is approximately $9 million. We do not currently anticipate that we will be required to perform under any of the guarantees based upon the underlying values of the aircraft collateralized.

     Legal Contingencies

• Flash Airlines, Yemen Airways-Yemenia and Airblue Limited: We are named in lawsuits in connection with the 2004 crash of our Boeing 737-300 aircraft on lease to Flash Airlines, an Egyptian carrier; the 2009 crash of our Airbus A310-300 aircraft on lease to Yemen Airways-Yemenia, a Yemeni carrier; and the 2010 crash of our Airbus A320-200 aircraft on lease to Airblue Limited, a Pakistani carrier. These lawsuits were filed by the families of victims on the flights and seek unspecified damages for wrongful death, costs, and fees. The Flash Airlines litigation originally commenced in May 2004 in California, but all U.S. proceedings were dismissed in favor of proceedings in France where claims are pending before the Tribunal de Grande Instance civil courts in Bobigny and Paris. As of August 5, 2011, the parties are engaged in settlement negotiations. We believe that we have substantial defenses to this action and available liability insurance is adequate to cover our defense costs and any potential liability. The Yemen Airways litigation and the Airblue Limited litigation were filed in January 2011 and March 2011, respectively, in California Superior Court in Los Angeles County. We have been served with the complaints, and each litigation is in its incipient stage. While the plaintiffs have not specified any amount of damages, we believe that we are adequately covered by available liability insurance for both lawsuits and that we have substantial defenses to these actions. We do not believe that the outcome of any of these lawsuits will have a material effect on our consolidated financial condition, results of operations or cash flows.

     We are also a party to various claims and litigation matters arising in the ordinary course of our business. We do not believe the outcome of any of these matters will be material to our consolidated financial position, results of operations or cash flows.

X

- Details

Name: us-gaap_CommitmentsAndContingenciesDisclosureAbstract

Namespace Prefix: us-gaap

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

The entire disclosure for commitments and contingencies.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6952336&loc=d3e14435-108349

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 460
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=6398077&loc=d3e12565-110249

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Interpretation (FIN)
-Number 14
-Paragraph 3
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 440
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6394976&loc=d3e25287-109308

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 5
-Paragraph 9, 10, 11, 12
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.25)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6449706&loc=d3e16207-108621

+ Details

Name: us-gaap_CommitmentsAndContingenciesDisclosureTextBlock

Namespace Prefix: us-gaap

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

XML 32 R5.htm IDEA: XBRL DOCUMENT v2.3.0.11

Condensed Consolidated Statements of Comprehensive Income (Unaudited) (USD $)
In Thousands
3 Months Ended 6 Months Ended

Jun. 30, 2011

Jun. 30, 2010

Jun. 30, 2011

Jun. 30, 2010

Condensed Consolidated Statements of Comprehensive Income [Abstract]

NET INCOME $ 72,680 $ 110,753 $ 146,401 $ 47,827

OTHER COMPREHENSIVE INCOME

Net changes in fair value of cash flow hedges, net of taxes of $(4,805) (2011) and $(13,485) (2010) for three months ended and $(10,695) (2011) and $(40,172) (2010) for six months ended 8,924 25,045 20,363 74,606

Change in unrealized appreciation on securities available for sale, net of taxes of $114 (2011) and $79 (2010) for three months ended and $114 (2011) and $66 (2010) for six months ended 220 (147) (211) (123)

Total other comprehensive income 9,144 24,898 20,152 74,483

COMPREHENSIVE INCOME $ 81,824 $ 135,651 $ 166,553 $ 122,310

X

- Definition

The change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to the reporting entity. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, but excludes any and all transactions which are directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e540-108580

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 30
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph A5
-Appendix A

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 38
-Subparagraph c(3)
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 8, 9, 10, 11, 12, 13, 14
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Comprehensive Income
-URI http://asc.fasb.org/extlink&oid=6508144

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Net Income
-URI http://asc.fasb.org/extlink&oid=6518256

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e557-108580

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Other Comprehensive Income
-URI http://asc.fasb.org/extlink&oid=6519514

+ Details

Name: us-gaap_ComprehensiveIncomeNetOfTax

Namespace Prefix: us-gaap

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 225
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04.22)
-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 225
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.18)
-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 38
-Subparagraph a
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e565-108580

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph A7
-Appendix A

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 130
-Paragraph 10, 15
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Other Comprehensive Income
-URI http://asc.fasb.org/extlink&oid=6519514

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 38
-Subparagraph d
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 87-21
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Net Income
-URI http://asc.fasb.org/extlink&oid=6518256

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 225
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04.19)
-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Article 5
-Section 03
-Paragraph 19

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 95
-Paragraph 28, 29, 30
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 16: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Paragraph 20
-Article 9

+ Details

Name: us-gaap_NetIncomeLoss

Namespace Prefix: us-gaap

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

Gross appreciation or the gross loss in value of the total unsold securities. While for technical reasons this element has no balance attribute, the default assumption is a credit balance consistent with its label.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 55
-Paragraph 2
-Subparagraph (e)-(g)
-URI http://asc.fasb.org/extlink&oid=6920433&loc=d3e998-108581

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 38
-Subparagraph c(3)
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 115
-Paragraph 13
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 130
-Paragraph 24
-Subparagraph b
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 130
-Paragraph 14, 17, 19, 22, 26
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Name: us-gaap_OtherComprehensiveIncomeAvailableForSaleSecuritiesAdjustmentNetOfTaxPeriodIncreaseDecrease

Namespace Prefix: us-gaap

Data Type: xbrli:monetaryItemType

Balance Type: na

Period Type: duration

X

- Definition

Net of tax effect change in accumulated gains and losses from derivative instruments designated and qualifying as the effective portion of cash flow hedges after taxes. A cash flow hedge is a hedge of the exposure to variability in the cash flows of a recognized asset or liability or a forecasted transaction that is attributable to a particular risk. The change includes an entity's share of an equity investee's increase or decrease in deferred hedging gains or losses. While for technical reasons this element has no balance attribute, the default assumption is a credit balance consistent with its label.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 133
-Paragraph 31, 46
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 130
-Paragraph 14, 17, 20, 24, 26
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 133
-Paragraph 46
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 55
-Paragraph 2
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=6920433&loc=d3e998-108581

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 130
-Paragraph 24
-Subparagraph b
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 130
-Paragraph 14, 17, 20, 26
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 38
-Subparagraph c(3)
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Name: us-gaap_OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPeriodIncreaseDecrease

Namespace Prefix: us-gaap

Data Type: xbrli:monetaryItemType

Balance Type: na

Period Type: duration

X

- Definition

This element represents Other Comprehensive Income or Loss, Net of Tax, for the period. Includes deferred gains or losses on qualifying hedges, unrealized holding gains or losses on available-for-sale securities, minimum pension liability, and cumulative translation adjustment. While for technical reasons this element has no balance attribute, the default assumption is a credit balance consistent with its label.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 130
-Paragraph 22, 23, 24, 25
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 12
-Paragraph 10
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e599-108580

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 31
-Article 5

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Article 3

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 38
-Subparagraph c(3)
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Name: us-gaap_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecrease

Namespace Prefix: us-gaap

Data Type: xbrli:monetaryItemType

Balance Type: na

Period Type: duration

X

- Details

Name: us-gaap_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract

Namespace Prefix: us-gaap

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Details

Name: us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract

Namespace Prefix: us-gaap

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

XML 33 R22.htm IDEA: XBRL DOCUMENT v2.3.0.11

Variable Interest Entities
6 Months Ended

Jun. 30, 2011

Variable Interest Entities [Abstract]

Variable Interest Entities

N. Variable Interest Entities

     Our leasing and financing activities require us to use many forms of entities to achieve our business objectives and we have participated to varying degrees in the design and formation of these entities. Our involvement in VIEs varies and includes being a passive investor in the VIE with involvement from other parties, managing and structuring all activities of the VIE, and being the sole shareholder of the VIE. See Note G — Debt Financings for more information on entities created for the purpose of obtaining financing.

     Investment Activities

     We have variable interests in ten entities to which we previously sold aircraft. The interests include debt financings, preferential equity interests and, in some cases, providing guarantees to banks which had provided the secured senior financings to the entities. Each entity owns one aircraft. The individual financing agreements are cross-collateralized by the aircraft. Because we do not control the activities which significantly impact the economic performance of the entities, we do not consolidate the entities into our condensed, consolidated financial statements. We have a credit facility with these entities to provide financing up to approximately $13.5 million, of which approximately $7.6 million was borrowed at June 30, 2011. The maximum exposure to loss for these entities is approximately $19 million, which is the combined net carrying value of this investment and maximum borrowings available under the credit facility at June 30, 2011.

     Non-Recourse Financing Structures

     We continue to consolidate one entity in which ILFC has a variable interest that was established to obtain secured financing for the purchase of an aircraft. ILFC provided $39.0 million of subordinated financing to the entity and the entity borrowed $106.0 million from third parties, $82.0 million of which is non-recourse to ILFC. The entity owns one aircraft with a net book value of $134.7 million at June 30, 2011. We have determined that we are the primary beneficiary of this entity because we control and manage all aspects of this entity, including directing the activities that most significantly affect the entity’s economic performance, and we absorb the majority of the risks and rewards of this entity.

     We also consolidate a wholly-owned subsidiary we created for the purpose of obtaining secured financing for an aircraft. The entity meets the definition of a VIE because it does not have sufficient equity to operate without ILFC’s subordinated financial support in the form of intercompany notes, which serve as equity even though they are legally debt instruments. This entity borrowed $55.4 million from a third party. The loan is non-recourse to ILFC and is secured by the aircraft and the lease receivables. The entity owns one aircraft with a net book value of $89.8 million at June 30, 2011. We have determined that we are the primary beneficiary of this entity because we control and manage all aspects of this entity, including directing the activities that most significantly affect the entity’s economic performance, and we absorb the majority of the risks and rewards of this entity.

     Wholly-Owned ECA Financing Vehicles

     We have created certain wholly-owned subsidiaries for the purpose of purchasing aircraft and obtaining financing secured by such aircraft. The secured debt is guaranteed by the European ECAs. The entities meet the definition of a VIE because they do not have sufficient equity to operate without ILFC’s subordinated financial support in the form of intercompany notes, which serve as equity even though they are legally debt instruments. We control and manage all aspects of these entities, including directing the activities that most significantly affect the entity’s economic performance, we absorb the majority of the risks and rewards of these entities and we guarantee the activities of these entities. These entities are therefore consolidated into our condensed, consolidated financial statements.

     Other Secured Financings

     We have created a number of wholly-owned subsidiaries for the purpose of obtaining secured financings. The entities meet the definition of a VIE because they do not have sufficient equity to operate without ILFC’s subordinated financial support in the form of intercompany notes, which serve as equity even though they are legally debt instruments. One of the entities borrowed $550 million from third parties and a portfolio of 37 aircraft will be transferred from ILFC to the subsidiaries of the entity to secure the loan. We control and manage all aspects of these entities, including directing the activities that most significantly affect the entity’s economic performance, we absorb the majority of the risks and rewards of these entities and we guarantee the activities of these entities. These entities are therefore consolidated into our condensed, consolidated financial statements. See Note G — Debt Financings for more information on these financings.

     Wholly-Owned Leasing Entities

     We have created wholly-owned subsidiaries for the purpose of facilitating aircraft leases with airlines. The entities meet the definition of a VIE because they do not have sufficient equity to operate without ILFC’s subordinated financial support in the form of intercompany loans, which serve as equity even though they are legally debt instruments. We control and manage all aspects of these entities, including directing the activities that most significantly affect the entity’s economic performance, we absorb the majority of the risks and rewards of these entities and we guarantee the activities of these entities. These entities are therefore consolidated into our condensed, consolidated financial statements.

X

- Definition

Variable Interest Entities

+ Details

Name: ilfc_VariableInterestEntitiesTextBlock

Namespace Prefix: ilfc

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

X

- Details

Name: us-gaap_VariableInterestEntityConsolidatedCarryingAmountAssetsAndLiabilitiesAbstract

Namespace Prefix: us-gaap

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

XML 34 R24.htm IDEA: XBRL DOCUMENT v2.3.0.11

Subsequent Events
6 Months Ended

Jun. 30, 2011

Subsequent Events [Abstract]

Subsequent Events

P. Subsequent Event

     On August 2, 2011, we entered into a stock purchase agreement with AerCap, Inc. (“AerCap”) and AerCap Holdings N.V. to acquire all of the issued and outstanding shares of capital stock of AeroTurbine, Inc., a wholly-owned direct subsidiary of AerCap (“AeroTurbine”), for an aggregate cash purchase price of $228 million. In connection with the acquisition, we have also agreed to guarantee AeroTurbine’s $425 million secured revolving credit facility. There was approximately $298.6 million outstanding under this facility as of July 31, 2011.

     The closing of this acquisition is currently expected to occur during 2011 and is subject to the satisfaction of several customary closing conditions, including applicable antitrust approvals.

X

- Details

Name: us-gaap_SubsequentEventsAbstract

Namespace Prefix: us-gaap

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.

+ Details

Name: us-gaap_SubsequentEventsTextBlock

Namespace Prefix: us-gaap

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

XML 35 R7.htm IDEA: XBRL DOCUMENT v2.3.0.11

Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands
6 Months Ended

Jun. 30, 2011

Jun. 30, 2010

OPERATING ACTIVITIES

Net income $ 146,401 $ 47,827

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation of flight equipment 912,220 965,899

Deferred income taxes 37,862 19,754

Derivative instruments (115,426) 374,814

Foreign currency adjustment of non-US$ denominated debt 116,200 (334,720)

Amortization of deferred debt issue costs 34,317 21,873

Amortization of debt discount 7,408 4,983

Amortization of prepaid lease costs 23,465 20,282

Aircraft impairment charges and fair value adjustments 147,125 414,562

Lease expenses related to aircraft sales (2,437) 89,213

Interest paid-in-kind to AIG Funding 28,920

Other, including foreign exchange adjustments on foreign currency denominated cash and gain on aircraft sales (23,941) (24,122)

Changes in operating assets and liabilities:

Lease receivables and other assets (9,613) 51,776

Accrued interest and other payables (31,010) 63,738

Current income taxes 8,673 4,668

Tax benefit sharing payable to AIG (85,000)

Rentals received in advance (14,660) (36,847)

Net cash provided by operating activities 1,236,584 1,627,620

INVESTING ACTIVITIES

Acquisition of flight equipment (182,610) (219,450)

Payments for deposits and progress payments (80,195) (25,078)

Proceeds from disposal of flight equipment 234,714 24,641

Restricted cash 36,013 (568,664)

Collections on notes receivable and finance and sales-type leases 44,737 66,407

Other (4,369)

Net cash provided by (used in) investing activities 48,290 (722,144)

FINANCING ACTIVITIES

Proceeds from debt financing 2,431,463 4,315,872

Payments in reduction of debt financing (4,626,686) (2,637,564)

Debt issue costs (99,651) (100,131)

Payment of common and preferred dividends (314) (207)

Security and rental deposits received 42,862 28,885

Security and rental deposits returned (46,721) (24,608)

Transfers of security and rental deposits on sales of aircraft (19,391)

Overhaul rentals collected 249,927 295,996

Overhaul deposits reimbursed (170,915) (153,266)

Transfer of overhauls rentals on sales of aircraft (18,623)

Net change in other deposits 42,678 6,873

Net cash (used in) provided by financing activities (2,215,371) 1,731,850

Net (decrease) increase in cash (930,497) 2,637,326

Effect of exchange rate changes on cash 1,283 (4,842)

Cash at beginning of period 3,067,697 336,911

Cash at end of period 2,138,483 2,969,395

Cash paid during the period for:

Interest, excluding interest capitalized of $2,790 (2011) and $3,080 (2010) 883,434 642,067

Income taxes, net $ 30,482 ^[1] $ 3,495

[1] Approximately $26 million was paid to AIG for ILFC tax liability.

X

- Definition

Aircraft Impairment Charges And Fair Value Adjustments.

+ Details

Name: ilfc_AircraftImpairmentChargesAndFairValueAdjustments

Namespace Prefix: ilfc

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Details

Name: ilfc_CashPaidDuringPeriodForAbstract

Namespace Prefix: ilfc

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

Lease receivables and other assets

+ Details

Name: ilfc_DecreaseIncreaseInLeaseReceivablesAndOtherAssets

Namespace Prefix: ilfc

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

Foreign currency adjustment of non-US$ denominated debt

+ Details

Name: ilfc_ForeignCurrencyAdjustmentOfNonUSCurrencyDenominatedDebt

Namespace Prefix: ilfc

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

Lease expenses related to aircraft sales

+ Details

Name: ilfc_LeaseExpensesRelatedToAircraftSales

Namespace Prefix: ilfc

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

Overhaul deposits reimbursed

+ Details

Name: ilfc_OverhaulDepositsReimbursed

Namespace Prefix: ilfc

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

Overhaul rentals collected

+ Details

Name: ilfc_OverhaulRentalsCollected

Namespace Prefix: ilfc

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

Security and rental deposits received

+ Details

Name: ilfc_SecurityAndRentalDepositsReceived

Namespace Prefix: ilfc

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

Security and rental deposits returned

+ Details

Name: ilfc_SecurityAndRentalDepositsReturned

Namespace Prefix: ilfc

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

Tax Benefit Sharing Payable To Parent Company.

+ Details

Name: ilfc_TaxBenefitSharingPayableToParentCompany

Namespace Prefix: ilfc

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

Transfer of overhauls rentals on sales of aircraft

+ Details

Name: ilfc_TransferOfOverhaulsRentalsOnSalesOfAircraft

Namespace Prefix: ilfc

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

Transfers of security and rental deposits on sales of aircraft

+ Details

Name: ilfc_TransfersOfSecurityAndRentalDepositsOnSalesOfAircraft

Namespace Prefix: ilfc

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

The aggregate amount of recurring noncash expense charged against earnings in the period to allocate the cost of assets over their estimated remaining economic lives.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

+ Details

Name: us-gaap_AdjustmentForAmortization

Namespace Prefix: us-gaap

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Details

Name: us-gaap_AdjustmentsNoncashItemsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract

Namespace Prefix: us-gaap

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

The component of interest expense representing the noncash expenses charged against earnings in the period to amortize debt discount and premium associated with the related debt instruments. Excludes amortization of financing costs. Alternate caption: Noncash Interest Expense.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 225
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.8)
-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 21
-Paragraph 16
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Article 5
-Section 03
-Paragraph 8

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28541-108399

+ Details

Name: us-gaap_AmortizationOfDebtDiscountPremium

Namespace Prefix: us-gaap

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

The component of interest expense comprised of the periodic charge against earnings over the life of the financing arrangement to which such costs relate. Alternate captions include Noncash Interest Expense.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 225
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.8)
-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Article 5
-Section 03
-Paragraph 8

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Paragraph 8
-Article 9

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

+ Details

Name: us-gaap_AmortizationOfFinancingCosts

Namespace Prefix: us-gaap

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

Includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Entity may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits are not generally reported as cash and cash equivalents. Includes cash and cash equivalents associated with the entity's continuing operations. Excludes cash and cash equivalents associated with the disposal group (and discontinued operation).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.1)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 1
-Article 5

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 95
-Paragraph 7
-Footnote 1
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3044-108585

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 95
-Paragraph 8, 9
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section 45
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6361293&loc=d3e6676-107765

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Cash
-URI http://asc.fasb.org/extlink&oid=6506951

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 95
-Paragraph 7, 26
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Cash Equivalents
-URI http://asc.fasb.org/extlink&oid=6507016

+ Details

Name: us-gaap_CashAndCashEquivalentsAtCarryingValue

Namespace Prefix: us-gaap

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition

The increase (decrease) during the reporting period in cash and cash equivalents. While for technical reasons this element has no balance attribute, the default assumption is a debit balance consistent with its label.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 95
-Paragraph 26
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 24
-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3521-108585

+ Details

Name: us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease

Namespace Prefix: us-gaap

Data Type: xbrli:monetaryItemType

Balance Type: na

Period Type: duration

X

- Definition

The component of income tax expense for the period representing the increase (decrease) in the entity's deferred tax assets and liabilities pertaining to continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Deferred Tax Expense (or Benefit)
-URI http://asc.fasb.org/extlink&oid=6510177

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph h
-Article 4

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 6
-Section I
-Subsection 7

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 45
-Subparagraph b
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 289
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 95
-Paragraph 28
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(h))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.7)
-URI http://asc.fasb.org/extlink&oid=6889476&loc=d3e330036-122817

+ Details

Name: us-gaap_DeferredIncomeTaxExpenseBenefit

Namespace Prefix: us-gaap

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

The effect of exchange rate changes on cash balances held in foreign currencies.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 95
-Paragraph 25
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 230
-Section 45
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6450594&loc=d3e33268-110906

+ Details

Name: us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents

Namespace Prefix: us-gaap

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

The amount of cash paid during the current period to foreign, federal, state, and local authorities as taxes on income, net of any cash received during the current period as refunds for the overpayment of taxes.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 95
-Paragraph 29
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 95
-Paragraph 27
-Subparagraph f
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6367179&loc=d3e4297-108586

+ Details

Name: us-gaap_IncomeTaxesPaidNet

Namespace Prefix: us-gaap

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

The increase (decrease) during the reporting period in the amounts payable to vendors for goods and services received and the amount of obligations and expenses incurred but not paid.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 95
-Paragraph 28
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

+ Details

Name: us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities

Namespace Prefix: us-gaap

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

The increase (decrease) during the period in the amount due for taxes based on the reporting entity's earnings or attributable to the entity's income earning process (business presence) within a given jurisdiction.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 95
-Paragraph 28
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

+ Details

Name: us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable

Namespace Prefix: us-gaap

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

The increase (decrease) during the reporting period, excluding the portion taken into income, in the liability reflecting revenue yet to be earned for which cash or other forms of consideration was received or recorded as a receivable.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 95
-Paragraph 28
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

+ Details

Name: us-gaap_IncreaseDecreaseInDeferredRevenue

Namespace Prefix: us-gaap

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Details

Name: us-gaap_IncreaseDecreaseInOperatingCapitalAbstract

Namespace Prefix: us-gaap

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

Net cash inflow or outflow in all other deposits that have not otherwise been stated in the taxonomy.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Audit and Accounting Guide (AAG)
-Number AAG-DEP
-Chapter 13
-IssueDate 2006-05-01
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3095-108585

+ Details

Name: us-gaap_IncreaseDecreaseInOtherDeposits

Namespace Prefix: us-gaap

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

The net cash inflow or outflow for the increase (decrease) associated with funds that are not available for withdrawal or use (such as funds held in escrow) and are associated with underlying transactions that are classified as investing activities.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 13
-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3213-108585

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 95
-Paragraph 15, 16, 17
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3179-108585

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Investing Activities
-URI http://asc.fasb.org/extlink&oid=6516133

+ Details

Name: us-gaap_IncreaseDecreaseInRestrictedCash

Namespace Prefix: us-gaap

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

The amount of cash paid for interest during the period net of cash paid for interest that is capitalized.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 95
-Paragraph 29
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 95
-Paragraph 27
-Subparagraph e
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6367179&loc=d3e4297-108586

+ Details

Name: us-gaap_InterestPaidNet

Namespace Prefix: us-gaap

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

The net cash inflow or outflow from financing activity for the period.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 95
-Paragraph 26
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 24
-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3521-108585

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3574-108585

+ Details

Name: us-gaap_NetCashProvidedByUsedInFinancingActivities

Namespace Prefix: us-gaap

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Details

Name: us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract

Namespace Prefix: us-gaap

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

The net cash inflow or outflow from investing activity.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 95
-Paragraph 26
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 24
-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3521-108585

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3574-108585

+ Details

Name: us-gaap_NetCashProvidedByUsedInInvestingActivities

Namespace Prefix: us-gaap

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Details

Name: us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract

Namespace Prefix: us-gaap

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

The net cash from (used in) all of the entity's operating activities, including those of discontinued operations, of the reporting entity. Operating activities generally involve producing and delivering goods and providing services. Operating activity cash flows include transactions, adjustments, and changes in value that are not defined as investing or financing activities. While for technical reasons this element has no balance attribute, the default assumption is a debit balance consistent with its label.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 24
-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3521-108585

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 25
-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3536-108585

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 95
-Paragraph 28
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 95
-Paragraph 26
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

+ Details

Name: us-gaap_NetCashProvidedByUsedInOperatingActivities

Namespace Prefix: us-gaap

Data Type: xbrli:monetaryItemType

Balance Type: na

Period Type: duration

X

- Details

Name: us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract

Namespace Prefix: us-gaap

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 225
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04.22)
-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 225
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.18)
-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 38
-Subparagraph a
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e565-108580

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph A7
-Appendix A

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 130
-Paragraph 10, 15
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Other Comprehensive Income
-URI http://asc.fasb.org/extlink&oid=6519514

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 38
-Subparagraph d
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 87-21
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Net Income
-URI http://asc.fasb.org/extlink&oid=6518256

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 225
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04.19)
-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Article 5
-Section 03
-Paragraph 19

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 95
-Paragraph 28, 29, 30
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 16: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Paragraph 20
-Article 9

+ Details

Name: us-gaap_NetIncomeLoss

Namespace Prefix: us-gaap

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

The total depreciation charge recorded for property subject to or held for lease.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 12
-Paragraph 5
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229

+ Details

Name: us-gaap_OperatingLeasesIncomeStatementDepreciationExpenseOnPropertySubjectToOrHeldForLease

Namespace Prefix: us-gaap

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

Other income (expense) included in net income that results in no cash inflows or outflows in the period. Includes noncash adjustments to reconcile net income (loss) to cash provided by (used in) operating activities that are not separately disclosed.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 95
-Paragraph 28
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

+ Details

Name: us-gaap_OtherNoncashIncomeExpense

Namespace Prefix: us-gaap

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

Interest paid other than in cash for example by issuing additional debt securities. As a noncash item, it is added to net income when calculating cash provided by or used in operations using the indirect method.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

+ Details

Name: us-gaap_PaidInKindInterest

Namespace Prefix: us-gaap

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

Cash outflow related to other deposits not otherwise defined in the taxonomy.

+ Details

Name: us-gaap_PaymentsForOtherDeposits

Namespace Prefix: us-gaap

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

The net cash outflow or inflow from other investing activities. This element is used when there is not a more specific and appropriate element in the taxonomy.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3095-108585

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 95
-Paragraph 15
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Investing Activities
-URI http://asc.fasb.org/extlink&oid=6516133

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3098-108585

+ Details

Name: us-gaap_PaymentsForProceedsFromOtherInvestingActivities

Namespace Prefix: us-gaap

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

The cash outflow paid to third parties in connection with debt origination, which will be amortized over the remaining maturity period of the associated long-term debt.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 95-13
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 15
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3291-108585

+ Details

Name: us-gaap_PaymentsOfDebtIssuanceCosts

Namespace Prefix: us-gaap

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

The cash outflow from the entity's earnings to the shareholders.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 15
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3291-108585

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 95
-Paragraph 18
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 95
-Paragraph 20
-Subparagraph a
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Financing Activities
-URI http://asc.fasb.org/extlink&oid=6513228

+ Details

Name: us-gaap_PaymentsOfDividends

Namespace Prefix: us-gaap

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

The cash outflow for acquisition of or capital improvements on other tangible or intangible assets not otherwise defined in the taxonomy.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 13
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3213-108585

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 95
-Paragraph 15
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 95
-Paragraph 17
-Subparagraph c
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Investing Activities
-URI http://asc.fasb.org/extlink&oid=6516133

+ Details

Name: us-gaap_PaymentsToAcquireOtherProductiveAssets

Namespace Prefix: us-gaap

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

The cash inflow during the period from additional borrowings in aggregate debt. Includes proceeds from short-term and long-term debt.

+ Details

Name: us-gaap_ProceedsFromIssuanceOfDebt

Namespace Prefix: us-gaap

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

The cash inflow from repayments of the balance excluding interest (principal) on loans receivable and leases held for investment purposes.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 102
-Paragraph 9
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 95
-Paragraph 13
-Subparagraph b
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3179-108585

+ Details

Name: us-gaap_ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment

Namespace Prefix: us-gaap

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

The net cash inflow or outflow in aggregate debt due to repayments and proceeds from additional borrowings.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 95
-Paragraph 18
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Financing Activities
-URI http://asc.fasb.org/extlink&oid=6513228

+ Details

Name: us-gaap_ProceedsFromRepaymentsOfDebt

Namespace Prefix: us-gaap

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

The cash inflow from the sale of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3179-108585

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 95
-Paragraph 15
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 95
-Paragraph 16
-Subparagraph c
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Investing Activities
-URI http://asc.fasb.org/extlink&oid=6516133

+ Details

Name: us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment

Namespace Prefix: us-gaap

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

The net change in the difference between the fair value and the carrying value, or in the comparative fair values, of derivative instruments, including options, swaps, futures, and forward contracts, held at each balance sheet date, that was included in earnings for the period.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 95
-Paragraph 28
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

+ Details

Name: us-gaap_UnrealizedGainLossOnDerivatives

Namespace Prefix: us-gaap

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

XML 36 R16.htm IDEA: XBRL DOCUMENT v2.3.0.11

Derivative Activities
6 Months Ended

Jun. 30, 2011

Derivative Activities [Abstract]

Derivative Activities

H. Derivative Activities

     We use derivatives to manage exposures to interest rate and foreign currency risks. At June 30, 2011, we had interest rate and foreign currency swap agreements with a related counterparty and interest rate cap agreements with an unrelated counterparty. Our foreign currency swap agreements mature on August 15, 2011, our interest rate swap agreements mature in 2014 and 2015, and our interest rate cap agreements mature in 2018.

     We record changes in fair value of derivatives in income or OCI depending on the designation of the hedge as either a fair value hedge or cash flow hedge, respectively. Where hedge accounting is not achieved, the change in fair value of the derivative is recorded in income. In the case of a re-designation of a derivative contract, the balance accumulated in AOCI at the time of the re-designation is amortized into income over the remaining life of the underlying derivative.

     We have entered into two interest rate cap agreements with an unrelated counterparty in connection with a secured financing transaction. We have not designated the interest rate caps as hedges, and all changes in fair value are recorded in income.

     All of our interest rate and foreign currency swap agreements are subject to a master netting agreement, which would allow the netting of derivative assets and liabilities in the case of default under any one contract. During the second quarter of 2011, we novated our trades and our master netting agreement, changing our counterparty from AIGFP to AIG Markets, Inc., both wholly-owned subsidiaries of AIG. All other terms of our master netting agreement remained unchanged and all instruments designated as hedges continued to qualify for their respective treatment under US GAAP. Our derivative portfolio is recorded at fair value on our balance sheet on a net basis in Derivative assets, net (see Note I — Fair Value Measurements). We account for all of our interest rate swap and foreign currency swap agreements as cash flow hedges. We do not have any credit risk related contingent features and are not required to post collateral under any of our existing derivative contracts.

     Derivatives have notional amounts, which generally represent amounts used to calculate contractual cash flows to be exchanged under the contract. The following table presents notional and fair values of derivatives outstanding at the following dates:

Asset Derivatives Liability Derivatives

Notional Value Fair Value Notional Value Fair Value

USD USD

(In thousands)

June 30, 2011:

Derivatives designated as hedging instruments:

Interest rate swap agreements (a)
$ — $ — $ 553,319 $ (48,004 )

Foreign exchange swap agreements
€ 1,000,000 254,200 — —

Total derivatives designated as hedging instruments
$ 254,200 $ (48,004 )

Derivatives not designated as hedging instruments:

Interest rate cap agreements
$ 83,788 $ 708 $ — $ —

Total derivatives
$ 254,908 $ (48,004 )

December 31, 2010:

Derivatives designated as hedging instruments:

Interest rate swap agreements (a)
$ — $ — $ 625,717 $ (56,244 )

Foreign exchange swap agreements
€ 1,000,000 114,431 — —

Total derivatives designated as hedging instruments
$ 114,431 $ (56,244 )

Derivatives not designated as hedging instruments:

Interest rate cap agreements
$ 89,520 $ 1,963 $ — $ —

Total derivatives
$ 116,394 $ (56,244 )

(a) Converts floating interest rate debt into fixed rate debt.

     During the three and six months ended June 30, 2011 and 2010, we recorded the following in OCI related to derivative instruments:

Gain (Loss) Gain (Loss)

Three Months Ended Six Months Ended

June 30, June 30,

2011 2010 2011 2010

(Dollars in thousands)

Effective portion of change in fair market value of derivatives (a)(b)
$ 44,955 $ (166,030 ) $ 145,613 $ (221,234 )

Foreign exchange component of cross currency swaps (credited) charged to income
(32,100 ) 203,520 (116,200 ) 334,720

Amortization of balances of de-designated hedges and other adjustments
874 1,040 1,915 1,292

Income tax effect
(4,805 ) (13,485 ) (10,965 ) (40,172 )

Net changes in cash flow hedges, net of taxes
$ 8,924 $ 25,045 $ 20,363 $ 74,606

(a) Includes $(255) and $(299) of combined CVA and MVA for the three and six month periods ended June 30, 2011, respectively, and $25,208 and $(62,620) of combined CVA and MVA for the three and six month periods ended June 30, 2010, respectively.

(b) 2010 includes losses of $(15,409) on a derivative contract that matured during the six months ended June 30, 2010, that was de-designated as a cash flow hedge and then subsequently re-designated during the life of the contract.

     The following table presents the effective portion of the unrealized gain (loss) on derivative positions recorded in OCI:

Amount of Unrealized Gain or (Loss)

Recorded in OCI on Derivatives

(Effective Portion)

Three Months Ended Six Months Ended

June 30, June 30,

2011 2010 2011 2010

Derivatives Designated as Cash Flow Hedges (Dollars in thousands)

Interest rate swap agreements
$ (6,093 ) $ 4,836 $ (5,717 ) $ (4,582 )

Foreign exchange swap agreements
34,778 (198,011 ) 117,494 (271,080 )

Total (a)
$ 28,685 $ (193,175 ) $ 111,777 $ (275,662 )

(a) Includes $(255) and $(299) of combined CVA and MVA for the three and six month periods ended June 30, 2011, respectively, and $25,208 and $(62,620) of combined CVA and MVA for the three and six month periods ended June 30, 2010, respectively.

     The following table presents amounts reclassified from AOCI into income when cash payments were made or received on our qualifying cash flow hedges:

Amount of Gain or (Loss) Reclassified from

AOCI Into Income

(Effective Portion)

Three Months Ended Six Months Ended

Location of Gain or (Loss) Reclassified from AOCI June 30, June 30,

into Income (Effective Portion) 2011 2010 2011 2010

(Dollars in thousands)

Interest rate swap agreements — interest expense
$ (6,511 ) $ (8,128 ) $ (13,414 ) $ (16,915 )

Foreign exchange swap agreements — interest expense
(9,759 ) (19,017 ) (20,422 ) (37,289 )

Foreign exchange swap agreements — lease revenue
— — — (224 )

Total
$ (16,270 ) $ (27,145 ) $ (33,836 ) $ (54,428 )

     We estimate that within the next twelve months, we will amortize into earnings approximately $73.3 million of the pre-tax balance in AOCI under cash flow hedge accounting in connection with our program to convert debt from floating to fixed interest rates.

     The following table presents the effect of derivatives recorded in the Condensed, Consolidated Statements of Income for the three and six months ended June 30, 2011 and 2010:

Amount of Gain or (Loss) Recognized

in Income on Derivatives

(Ineffective Portion) (a)

Three Months Ended Six Months Ended

June 30, June 30,

2011 2010 2011 2010

(Dollars in thousands)

Derivatives Designated as Cash Flow Hedges:

Interest rate swap agreements
$ (27 ) $ (32 ) $ (58 ) $ (91 )

Foreign exchange swap agreements
(322 ) (2,338 ) 1,008 (25,629 )

Total
(349 ) (2,370 ) 950 (25,720 )

Derivatives Not Designated as a Hedge:

Interest rate cap agreements (b)
(245 ) (1,373 ) (1,126 ) (2,428 )

Reconciliation to Condensed, Consolidated Statements of Income:

Income effect of maturing derivative contracts
— — — (15,409 )

Reclassification of amounts de-designated as hedges recorded in AOCI
(874 ) (1,040 ) (1,915 ) (1,292 )

Effect from derivatives, net of change in hedged items due to changes in foreign exchange rates
$ (1,468 ) $ (4,783 ) $ (2,091 ) $ (44,849 )

(a) All components of each derivative’s gain or loss were included in the assessment of effectiveness.

(b) An additional $(77) and $(6) and $(131) and $(7) of amortization of premium paid to the derivative counterparty was recognized in Interest expense during the three and six months ended June 30, 2011 and 2010, respectively.

X

- Details

Name: us-gaap_DerivativeInstrumentsAndHedgesAbstract

Namespace Prefix: us-gaap

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

The entire disclosure for the entity's entire derivative instruments and hedging activities. Describes an entity's risk management strategies, derivatives in hedging activities and non-hedging derivative instruments, the assets, obligations, liabilities, revenues and expenses arising therefrom, and the amounts of and methodologies and assumptions used in determining the amounts of such items.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 133
-Paragraph 44
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1B
-URI http://asc.fasb.org/extlink&oid=6935481&loc=SL5580258-113959

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(n))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4A
-URI http://asc.fasb.org/extlink&oid=6935481&loc=SL5618551-113959

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=6935481&loc=SL5624163-113959

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4J
-URI http://asc.fasb.org/extlink&oid=6935481&loc=SL5708773-113959

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6935481&loc=d3e41638-113959

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-URI http://asc.fasb.org/extlink&oid=6935481&loc=SL5624171-113959

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6935481&loc=d3e41620-113959

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6935481&loc=d3e41641-113959

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 30
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6887037&loc=d3e80748-113994

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 30
-Section 45
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6441202&loc=d3e80720-113993

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 30
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6887037&loc=d3e80784-113994

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6935481&loc=SL5579240-113959

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6935481&loc=d3e41635-113959

Reference 16: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4E
-URI http://asc.fasb.org/extlink&oid=6935481&loc=SL5624181-113959

Reference 17: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4H
-URI http://asc.fasb.org/extlink&oid=6935481&loc=SL5624258-113959

Reference 18: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=6935481&loc=SL5579245-113959

Reference 19: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 25
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6886632&loc=d3e76258-113986

Reference 20: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 133
-Paragraph 45
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 21: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4K
-URI http://asc.fasb.org/extlink&oid=6935481&loc=SL5708775-113959

Reference 22: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4D
-URI http://asc.fasb.org/extlink&oid=6935481&loc=SL5624177-113959

+ Details

Name: us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock

Namespace Prefix: us-gaap

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

XML 37 R20.htm IDEA: XBRL DOCUMENT v2.3.0.11

Related Party Transactions
6 Months Ended

Jun. 30, 2011

Related Party Transactions [Abstract]

Related Party Transactions

L. Related Party Transactions

     Related Party Allocations and Fees: We are party to cost sharing agreements, including tax, with AIG. Generally, these agreements provide for the allocation of corporate costs based upon a proportional allocation of costs to all subsidiaries. We also pay other subsidiaries of AIG a fee related to management services provided for certain of our foreign subsidiaries and we earn management fees from two trusts consolidated by AIG for the management of aircraft we sold to the trusts in prior years. In March 2010, we paid AIG $85.0 million that was due and payable on a loan related to certain tax planning activities we had participated in during 2002 and 2003.

     Loans from AIG Funding: We borrowed $3.9 billion from AIG Funding, a subsidiary of AIG, in 2009 to assist in funding our liquidity needs. On August 20, 2010, we prepaid in full the principal balance of approximately $3.9 billion plus accrued interest.

     Derivatives and Insurance Premiums: The counterparty of all of our interest rate swap and foreign currency swap agreements as of June 30, 2011 was AIG Markets, Inc., a wholly-owned subsidiary of AIG. See Note I — Fair Value Measurements and Note H — Derivative Activities. In addition, we purchase insurance through a broker who may place part of our policies with AIG. Total insurance premiums were $3.7 million and $3.5 million for the six months ended June 30, 2011 and 2010, respectively.

     Our financial statements include the following amounts involving related parties:

Three Months Ended Six Months Ended

June 30, 2011 June 30, 2010 June 30, 2011 June 30, 2010

Income Statement (Dollars in thousands)

Expense (income):

Interest expense on loans from AIG Funding
$ — $ 62,035 — $ 122,545

Effect from derivatives on contracts with AIGFP novated to AIG Markets, Inc.
(1,223 ) (3,410 ) (965 ) (42,421 )

Interest on derivative contracts with AIGFP novated to AIG Markets, Inc.
16,270 27,145 33,836 54,204

Lease revenue related to hedging of lease receipts with AIGFP
— — — 224

Allocation of corporate costs from AIG
(10,246 ) 1,617 (4,140 ) 5,877

Management fees received
(2,305 ) (2,387 ) (4,545 ) (4,685 )

Management fees paid
24 114 52 354

December 31,

Balance Sheet June 30, 2011 2010

(Dollars in thousands)

Asset (liability):

Derivative assets, net
$ 206,196 $ 58,187

Income taxes payable to AIG (a)
(142,442 ) (108,784 )

Accrued corporate costs payable to AIG
(21,954 ) (20,753 )

(a) We paid approximately $26 million to AIG during the six months ended June 30, 2011.

X

- Details

Name: us-gaap_RelatedPartyTransactionDueFromToRelatedPartyAbstract

Namespace Prefix: us-gaap

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

The entire disclosure for related party transactions, including the nature of the relationship(s), a description of the transactions, the amount of the transactions, the effects of any change in the method of establishing the terms of the transaction from the previous period, stated interest rate, expiration date, terms and manner of settlement per the agreement with the related party, and amounts due to or from related parties. If the entity and one or more other entities are under common ownership or management control and this control affects the operating results or financial position, disclosure includes the nature of the control relationship even if there are no transactions between the entities. Disclosure may also include the aggregate amount of current and deferred tax expense for each statement of earnings presented where the entity is a member of a group that files a consolidated tax return, the amount of any tax related balances due to or from affiliates as of the date of each statement of financial position presented, the principal provisions of the method by which the consolidated amount of current and deferred tax expense is allocated to the members of the group and the nature and effect of any changes in that method. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(k))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Article 3A
-Section 04
-Paragraph b

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 57
-Paragraph 1-4
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 850
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39678-107864

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Article 4
-Section 08
-Paragraph k

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 850
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39691-107864

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 850
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 850
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39622-107864

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 850
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39603-107864

+ Details

Name: us-gaap_RelatedPartyTransactionsDisclosureTextBlock

Namespace Prefix: us-gaap

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

XML 38 R2.htm IDEA: XBRL DOCUMENT v2.3.0.11

Condensed Consolidated Balance Sheets (Unaudited) (USD $)
In Thousands

Jun. 30, 2011

Dec. 31, 2010

ASSETS

Cash and cash equivalents, including interest bearing accounts of $2,126,626 (2011) and $3,058,747 (2010) $ 2,138,483 $ 3,067,697

Restricted cash, including interest bearing accounts of $421,040 (2011) and $402,373 (2010) 421,040 457,053

Notes receivable, net of allowance, and net investment in finance and sales-type leases 86,260 132,685

Flight equipment under operating leases 51,603,074 51,646,586

Less accumulated depreciation 13,891,697 13,120,421

Flight equipment under operating leases, net 37,711,377 38,526,165

Flight equipment held for sale 5,220 255,178

Deposits on flight equipment purchases 223,700 184,410

Lease receivables and other assets 392,017 402,932

Derivative assets, net 206,904 60,150

Deferred debt issue costs, less accumulated amortization of $217,078 (2011) and $181,460 (2010) 296,609 232,576

Total assets 41,481,610 43,318,846

LIABILITIES AND SHAREHOLDERS' EQUITY

Accrued interest and other payables 660,899 689,606

Current income taxes 117,571 108,898

Secured debt financing, net of deferred debt discount of $19,901 (2011) and $22,309 (2010) 9,331,699 9,556,634

Unsecured debt financing, net of deferred debt discount of $42,977 (2011) and $47,977 (2010) 15,034,585 16,997,466

Subordinated debt 1,000,000 1,000,000

Foreign currency adjustment related to foreign currency denominated debt 281,600 165,400

Security deposits, overhaul rental and other customer deposits 1,682,140 1,620,784

Rentals received in advance 269,455 284,115

Deferred income taxes 4,712,652 4,663,939

Commitments and Contingencies - Note M

SHAREHOLDERS' EQUITY

Market Auction Preferred Stock, $100,000 per share liquidation value; Series A and B, each having 500 shares issued and outstanding 100,000 100,000

Common stock - no par value; 100,000,000 authorized shares, 45,267,723 issued and outstanding 1,053,582 1,053,582

Paid-in capital 599,133 606,367

Accumulated other comprehensive income (loss) (38,792) (58,944)

Retained earnings 6,677,086 6,530,999

Total shareholders' equity 8,391,009 8,232,004

Total liabilities shareholders' equity $ 41,481,610 $ 43,318,846

X

- Definition

Flight equipment held for sale

+ Details

Name: ilfc_FlightEquipmentHeldForSale

Namespace Prefix: ilfc

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition

Foreign currency adjustment related to foreign currency denominated debt

+ Details

Name: ilfc_ForeignCurrencyAdjustmentRelatedToForeignCurrencyDenominatedDebt

Namespace Prefix: ilfc

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition

Lease receivables and other assets

+ Details

Name: ilfc_LeaseReceivablesAndOtherAssets

Namespace Prefix: ilfc

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition

Notes receivable, net of allowance, and net investment in finance and sales-type leases

+ Details

Name: ilfc_NotesReceivableNetOfAllowanceAndNetInvestmentInFinanceAndSalesTypeLeases

Namespace Prefix: ilfc

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition

Sum of the carrying values as of the balance sheet date of obligations incurred through that date, including liabilities incurred and payable to vendors for goods and services received, taxes, interest, rent and utilities, compensation costs, payroll taxes and fringe benefits (other than pension and postretirement obligations), contractual rights and obligations, and statutory obligations.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Article 9
-Section 03
-Paragraph 15
-Subparagraph 1, 5

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Article 7
-Section 03
-Paragraph 15

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03.15)
-URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03.15(1),(5))
-URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878

+ Details

Name: us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent

Namespace Prefix: us-gaap

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition

Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 13
-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e653-108580

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 130
-Paragraph 14, 17, 26
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 31
-Article 5

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 12
-Paragraph 10
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Staff Position (FSP)
-Number FAS115-1/124-1
-Paragraph 15D
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e637-108580

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Article 3

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 14
-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e681-108580

+ Details

Name: us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax

Namespace Prefix: us-gaap

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition

Excess of issue price over par or stated value of the entity's capital stock and amounts received from other transactions involving the entity's stock or stockholders. Includes adjustments to additional paid in capital. Some examples of such adjustments include recording the issuance of debt with a beneficial conversion feature and certain tax consequences of equity instruments awarded to employees. Use this element for the aggregate amount of additional paid-in capital associated with common and preferred stock. For additional paid-in capital associated with only common stock, use the element additional paid in capital, common stock. For additional paid-in capital associated with only preferred stock, use the element additional paid in capital, preferred stock.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 31
-Article 5

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.30(a)(1))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_AdditionalPaidInCapital

Namespace Prefix: us-gaap

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition

Amount at the balance sheet date that has been received by the entity that represents rents paid in advance.

+ Details

Name: us-gaap_AdvanceRent

Namespace Prefix: us-gaap

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition

Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Article 7
-Section 03
-Paragraph 12

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Topic 210
-SubTopic 10
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
-Section S99
-Name Accounting Standards Codification
-Publisher FASB
-Paragraph 1

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Concepts (CON)
-Number 6
-Paragraph 25
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 18
-Article 5

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.18)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_Assets

Namespace Prefix: us-gaap

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Details

Name: us-gaap_AssetsAbstract

Namespace Prefix: us-gaap

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

Includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Entity may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits are not generally reported as cash and cash equivalents. Includes cash and cash equivalents associated with the entity's continuing operations. Excludes cash and cash equivalents associated with the disposal group (and discontinued operation).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.1)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 1
-Article 5

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 95
-Paragraph 7
-Footnote 1
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3044-108585

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 95
-Paragraph 8, 9
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section 45
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6361293&loc=d3e6676-107765

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Cash
-URI http://asc.fasb.org/extlink&oid=6506951

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 95
-Paragraph 7, 26
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Cash Equivalents
-URI http://asc.fasb.org/extlink&oid=6507016

+ Details

Name: us-gaap_CashAndCashEquivalentsAtCarryingValue

Namespace Prefix: us-gaap

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition

Represents the caption on the face of the balance sheet to indicate that the entity has entered into (1) purchase or supply arrangements that will require expending a portion of its resources to meet the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a) possible claims against a company's resources due to future performance under contract terms, and (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or more future events that are deemed likely to occur do occur or fail to occur.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03.17)
-URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 03
-Paragraph 17
-Article 9

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Article 7
-Section 03
-Paragraph 19

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 25
-Article 5

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03.(a),19)
-URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6952336&loc=d3e14326-108349

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 5
-Paragraph 8, 9
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.25)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_CommitmentsAndContingencies

Namespace Prefix: us-gaap

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition

Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 30
-Article 5

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.29)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_CommonStockValue

Namespace Prefix: us-gaap

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition

For an unclassified balance sheet, the carrying amount (net of accumulated amortization) as of the balance sheet date of capitalized costs associated with the issuance of debt instruments (for example, legal, accounting, underwriting, printing, and registration costs) that will be charged against earnings over the life of the debt instruments to which such costs pertain.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.17)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 21
-Paragraph 16
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 17
-Article 5

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28555-108399

+ Details

Name: us-gaap_DeferredFinanceCostsNet

Namespace Prefix: us-gaap

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition

The cumulative amount for all deferred tax liabilities as of the balance sheet date arising from temporary differences between accounting income in accordance with generally accepted accounting principles and tax-basis income that will result in future taxable income exceeding future accounting income.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Article 7
-Section 03
-Paragraph 15
-Subparagraph b(2)

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 43, 289
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Deferred Tax Liability
-URI http://asc.fasb.org/extlink&oid=6510232

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319

+ Details

Name: us-gaap_DeferredIncomeTaxLiabilities

Namespace Prefix: us-gaap

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition

The carrying amount of the asset transferred to a third party to serve as a deposit, which typically serves as security against failure by the transferor to perform under terms of an agreement.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 17
-Article 5

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 8
-Article 5

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.8,17)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_DepositAssets

Namespace Prefix: us-gaap

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition

Fair values as of the balance sheet date of all assets resulting from contracts that meet the criteria of being accounted for as derivative instruments, net of the effects of master netting arrangements.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=6947722&loc=d3e13495-108611

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 45
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6945355&loc=d3e41271-113958

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Staff Position (FSP)
-Number FIN39-1
-Paragraph 10A, 10B
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 45
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6945355&loc=d3e41228-113958

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 133
-Paragraph 4, 17
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 10
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6947722&loc=d3e13433-108611

+ Details

Name: us-gaap_DerivativeAssets

Namespace Prefix: us-gaap

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition

Total of all Liabilities and Stockholders' Equity items (or Partners' Capital, as applicable), including the portion of equity attributable to noncontrolling interests, if any.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 32
-Article 5

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.32)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Article 7
-Section 03
-Paragraph 25

+ Details

Name: us-gaap_LiabilitiesAndStockholdersEquity

Namespace Prefix: us-gaap

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Details

Name: us-gaap_LiabilitiesAndStockholdersEquityAbstract

Namespace Prefix: us-gaap

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

Aggregate par or stated value of issued nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable preferred shares, par value and other disclosure concepts are in another section within stockholders' equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 129
-Paragraph 2, 3, 4, 5, 6, 7, 8
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=6959260&loc=d3e187085-122770

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 12
-Paragraph 10
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.28)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Article 3

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Article 5
-Section 02
-Paragraph 29

+ Details

Name: us-gaap_PreferredStockValue

Namespace Prefix: us-gaap

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition

The amount of accumulated depreciation, by major property class, recorded on property subject to or available for lease as of the balance sheet date.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 840
-SubTopic 20
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6454179&loc=d3e41551-112718

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 13
-Paragraph 23
-Subparagraph b(i)
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 13
-Paragraph 19
-Subparagraph a
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 840
-SubTopic 20
-Section 45
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6453916&loc=d3e41460-112716

+ Details

Name: us-gaap_PropertySubjectToOrAvailableForOperatingLeaseAccumulatedDepreciation

Namespace Prefix: us-gaap

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition

The gross amount of lessor property subject to or available for lease as of the balance sheet date.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 840
-SubTopic 20
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6454179&loc=d3e41551-112718

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 13
-Paragraph 23
-Subparagraph b(i)
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 13
-Paragraph 19
-Subparagraph a
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 840
-SubTopic 20
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6453916&loc=d3e41457-112716

+ Details

Name: us-gaap_PropertySubjectToOrAvailableForOperatingLeaseGross

Namespace Prefix: us-gaap

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition

The amount of property, by major property class, net of accumulated depreciation, subject to or available for lease as of the balance sheet date.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 13
-Paragraph 23
-Subparagraph b(i)
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 13
-Paragraph 19
-Subparagraph a
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 840
-SubTopic 20
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6454179&loc=d3e41551-112718

+ Details

Name: us-gaap_PropertySubjectToOrAvailableForOperatingLeaseNet

Namespace Prefix: us-gaap

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition

The carrying amounts of cash and cash equivalent items which are restricted as to withdrawal or usage. Restrictions may include legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or entity statements of intention with regard to particular deposits; however, time deposits and short-term certificates of deposit are not generally included in legally restricted deposits. Excludes compensating balance arrangements that are not agreements which legally restrict the use of cash amounts shown on the balance sheet. This element is for unclassified presentations; for classified presentations there is a separate and distinct element.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 1
-Article 5

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Audit and Accounting Guide (AAG)
-Number AAG-BRD
-Chapter 4
-Paragraph 80
-Subparagraph Exhibit 4-8, 3
-IssueDate 2006-05-01
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.1)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_RestrictedCashAndCashEquivalents

Namespace Prefix: us-gaap

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition

The cumulative amount of the reporting entity's undistributed earnings or deficit.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.31(a)(3))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 12
-Paragraph 10
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 31
-Article 5

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Article 3

+ Details

Name: us-gaap_RetainedEarningsAccumulatedDeficit

Namespace Prefix: us-gaap

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition

Carrying value as of the balance sheet date , including the current and noncurrent portions, of collateralized debt obligations (with maturities initially due after one year or beyond the operating cycle, if longer). Such obligations include mortgage loans, chattel loans, and any other borrowings secured by assets of the borrower.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03.16)
-URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 19, 20, 22
-Article 5

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 03
-Paragraph 16
-Article 9

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03.16)
-URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878

+ Details

Name: us-gaap_SecuredDebt

Namespace Prefix: us-gaap

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition

This element represents money paid in advance to protect the provider of a product or service, such as a lessor, against damage or nonpayment by the buyer or tenant (lessee) during the term of the agreement. Such damages may include physical damage to the property, theft of property, and other contractual breaches. Security deposits held may be interest or noninterest bearing.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03.15(a))
-URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910

+ Details

Name: us-gaap_SecurityDepositLiability

Namespace Prefix: us-gaap

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.29-31)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph A3
-Appendix A

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 29, 30, 31
-Article 5

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section E

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB TOPIC 4.E)
-URI http://asc.fasb.org/extlink&oid=6228006&loc=d3e74512-122707

+ Details

Name: us-gaap_StockholdersEquity

Namespace Prefix: us-gaap

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Details

Name: us-gaap_StockholdersEquityAbstract

Namespace Prefix: us-gaap

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

Including the current and noncurrent portions, carrying value as of the balance sheet date of subordinated debt (with initial maturities beyond one year or beyond the operating cycle if longer). Subordinated debt places a lender in a lien position behind debt having a higher priority of repayment in liquidation of the entity's assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03.16)
-URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Article 5
-Section 02
-Subsection 19, 20, 22

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 03
-Paragraph 16
-Article 9

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 10
-Section F

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03.16)
-URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878

+ Details

Name: us-gaap_SubordinatedDebt

Namespace Prefix: us-gaap

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition

Carrying value as of the balance sheet date of obligations incurred and payable for statutory income, sales, use, payroll, excise, real, property and other taxes. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 20
-Article 5

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 19
-Article 5

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.19,20)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_TaxesPayableCurrent

Namespace Prefix: us-gaap

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition

Including the current and noncurrent portions, carrying value as of the balance sheet date of uncollateralized debt obligations (with maturities initially due after one year or beyond the operating cycle if longer).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Article 5
-Section 02
-Subsection 19, 20, 22

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 03
-Paragraph 16
-Article 9

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03.16)
-URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03.16)
-URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910

+ Details

Name: us-gaap_UnsecuredDebt

Namespace Prefix: us-gaap

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

XML 39 FilingSummary.xml IDEA: XBRL DOCUMENT 2.3.0.11 Html 15 143 1 true 3 0 false 3 true false R1.htm 00 - Document - Document and Entity Information Sheet http://ilfc.com/role/DocumentAndEntityInformation Document and Entity Information false false R2.htm 0110 - Statement - Condensed Consolidated Balance Sheets (Unaudited) Sheet http://ilfc.com/role/BalanceSheets Condensed Consolidated Balance Sheets (Unaudited) false false R3.htm 0111 - Statement - Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) Sheet http://ilfc.com/role/BalanceSheetsParenthetical Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) false false R4.htm 0120 - Statement - Condensed Consolidated Statements of Income (Unaudited) Sheet http://ilfc.com/role/StatementsOfIncome Condensed Consolidated Statements of Income (Unaudited) false false R5.htm 0130 - Statement - Condensed Consolidated Statements of Comprehensive Income (Unaudited) Sheet http://ilfc.com/role/StatementsOfComprehensiveIncome Condensed Consolidated Statements of Comprehensive Income (Unaudited) false false R6.htm 0131 - Statement - Condensed Consolidated Statements of Comprehensive Income (Unaudited) (Parenthetical) Sheet http://ilfc.com/role/StatementsOfComprehensiveIncomeParenthetical Condensed Consolidated Statements of Comprehensive Income (Unaudited) (Parenthetical) false false R7.htm 0140 - Statement - Condensed Consolidated Statements of Cash Flows (Unaudited) Sheet http://ilfc.com/role/StatementsOfCashFlows Condensed Consolidated Statements of Cash Flows (Unaudited) false false R8.htm 0141 - Statement - Condensed Consolidated Statements of Cash Flows (Parenthetical) Sheet http://ilfc.com/role/StatementsOfCashFlowsParenthetical Condensed Consolidated Statements of Cash Flows (Parenthetical) false false R9.htm 0201 - Disclosure - Basis of Preparation Sheet http://ilfc.com/role/BasisOfPreparation Basis of Preparation false false R10.htm 0202 - Disclosure - Recent Accounting Pronouncements Sheet http://ilfc.com/role/RecentAccountingPronouncements Recent Accounting Pronouncements false false R11.htm 0203 - Disclosure - Restricted Cash Sheet http://ilfc.com/role/RestrictedCash Restricted Cash false false R12.htm 0204 - Disclosure - Allowance for Credit Losses Sheet http://ilfc.com/role/AllowanceForCreditLosses Allowance for Credit Losses false false R13.htm 0205 - Disclosure - Aircraft Impairment Charges and Fair Value Adjustments on Flight Equipment Sold or to be Disposed of Sheet http://ilfc.com/role/AircraftImpairmentChargesAndFairValueAdjustmentsOnFlightEquipmentSoldOrToBeDisposedOf Aircraft Impairment Charges and Fair Value Adjustments on Flight Equipment Sold or to be Disposed of false false R14.htm 0206 - Disclosure - Flight Equipment Held for Sale Sheet http://ilfc.com/role/FlightEquipmentHeldForSale Flight Equipment Held for Sale false false R15.htm 0207 - Disclosure - Debt Financings Sheet http://ilfc.com/role/DebtFinancings Debt Financings false false R16.htm 0208 - Disclosure - Derivative Activities Sheet http://ilfc.com/role/DerivativeActivities Derivative Activities false false R17.htm 0209 - Disclosure - Fair Value Measurements Sheet http://ilfc.com/role/FairValueMeasurements Fair Value Measurements false false R18.htm 0210 - Disclosure - Fair Value Disclosures of Financial Instruments Sheet http://ilfc.com/role/FairValueDisclosuresOfFinancialInstruments Fair Value Disclosures of Financial Instruments false false R19.htm 0211 - Disclosure - Security Deposits on Aircraft, Overhaul Rentals and Other Customer Deposits Sheet http://ilfc.com/role/SecurityDepositsOnAircraftOverhaulRentalsandOtherCustomerDeposits Security Deposits on Aircraft, Overhaul Rentals and Other Customer Deposits false false R20.htm 0212 - Disclosure - Related Party Transactions Sheet http://ilfc.com/role/RelatedPartyTransactions Related Party Transactions false false R21.htm 0213 - Disclosure - Commitments and Contingencies Sheet http://ilfc.com/role/CommitmentsAndContingencies Commitments and Contingencies false false R22.htm 0214 - Disclosure - Variable Interest Entities Sheet http://ilfc.com/role/VariableInterestEntities Variable Interest Entities false false R23.htm 0215 - Disclosure - Other Expenses Sheet http://ilfc.com/role/OtherExpenses Other Expenses false false R24.htm 0216 - Disclosure - Subsequent Events Sheet http://ilfc.com/role/SubsequentEvents Subsequent Events false false All Reports Book All Reports Process Flow-Through: 0110 - Statement - Condensed Consolidated Balance Sheets (Unaudited) Process Flow-Through: Removing column 'Jun. 30, 2010' Process Flow-Through: Removing column 'Dec. 31, 2009' Process Flow-Through: 0111 - Statement - Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) Process Flow-Through: 0120 - Statement - Condensed Consolidated Statements of Income (Unaudited) Process Flow-Through: 0130 - Statement - Condensed Consolidated Statements of Comprehensive Income (Unaudited) Process Flow-Through: 0131 - Statement - Condensed Consolidated Statements of Comprehensive Income (Unaudited) (Parenthetical) Process Flow-Through: 0140 - Statement - Condensed Consolidated Statements of Cash Flows (Unaudited) Process Flow-Through: 0141 - Statement - Condensed Consolidated Statements of Cash Flows (Parenthetical) ilfc-20110630.xml ilfc-20110630.xsd ilfc-20110630_cal.xml ilfc-20110630_def.xml ilfc-20110630_lab.xml ilfc-20110630_pre.xml true true EXCEL 40 Financial_Report.xls IDEA: XBRL DOCUMENT begin 644 Financial_Report.xls M[[N_34E-12U697)S:6]N.B`Q+C`-"E@M1&]C=6UE;G0M5'EP93H@5V]R:V)O M;VL-"D-O;G1E;G0M5'EP93H@;75L=&EP87)T+W)E;&%T960[(&)O=6YD87)Y M/2(M+2TM/5].97AT4&%R=%\X,CDQ969A9E]E,C`X7S0Y-3=?8F4Q,5]D-6(V M869B,&(U,3,B#0H-"E1H:7,@9&]C=6UE;G0@:7,@82!3:6YG;&4@1FEL92!7 M96(@4&%G92P@86QS;R!K;F]W;B!A'!L;W)E&UL;G,Z=CTS1")U&UL;G,Z;STS1")U&UL/@T*(#QX.D5X8V5L5V]R:V)O;VL^#0H@(#QX M.D5X8V5L5V]R:W-H965T5]);F9O#I%>&-E;%=O#I%>&-E;%=O#I.86UE/@T*("`@(#QX.E=O#I%>&-E;%=O#I.86UE/D-O;F1E;G-E9%]#;VYS;VQI9&%T961?4W1A=&5M M93$\+W@Z3F%M93X-"B`@("`\>#I7;W)K#I%>&-E;%=O#I.86UE/@T*("`@(#QX.E=O#I%>&-E;%=O#I.86UE M/D-O;F1E;G-E9%]#;VYS;VQI9&%T961?4W1A=&5M930\+W@Z3F%M93X-"B`@ M("`\>#I7;W)K#I.86UE/@T*("`@(#QX.E=O#I%>&-E;%=O#I.86UE/E)E#I.86UE/@T* M("`@(#QX.E=O#I% M>&-E;%=O#I.86UE/D%L;&]W86YC95]F;W)?0W)E M9&ET7TQO#I.86UE/@T*("`@(#QX.E=O#I%>&-E;%=O#I. M86UE/D%I#I.86UE/@T* M("`@(#QX.E=O#I% M>&-E;%=O#I.86UE/D9L:6=H=%]%<75I<&UE;G1? M2&5L9%]F;W)?4V%L93PO>#I.86UE/@T*("`@(#QX.E=O#I%>&-E;%=O#I.86UE/D1E8G1?1FEN86YC:6YG#I.86UE/@T*("`@(#QX.E=O#I%>&-E;%=O#I.86UE/D1E#I.86UE M/@T*("`@(#QX.E=O#I%>&-E;%=O#I.86UE/D9A:7)?5F%L=65?365A M#I%>&-E M;%=O#I%>&-E;%=O#I% M>&-E;%=O5]4#I7;W)K#I.86UE/@T*("`@(#QX.E=O#I%>&-E;%=O#I. M86UE/E9A#I%>&-E;%=O#I7;W)K#I.86UE/@T*("`@(#QX.E=O#I%>&-E;%=O6QE#I!8W1I=F53:&5E=#X-"B`@/'@Z4')O=&5C=%-T'1087)T7S@R.3%E9F%F7V4R,#A?-#DU-U]B M93$Q7V0U8C9A9F(P8C4Q,PT*0V]N=&5N="U,;V-A=&EO;CH@9FEL93HO+R]# M.B\X,CDQ969A9E]E,C`X7S0Y-3=?8F4Q,5]D-6(V869B,&(U,3,O5V]R:W-H M965T'0O:F%V M87-C3X-"B`@("`\=&%B M;&4@8VQA'0^24Y415).051)3TY!3"!,14%312!&24Y!3D-%($-/4E`\2!# M96YT3PO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^,#`P,#'0^,3`M43QS<&%N/CPO'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R M(&-L87-S/3-$'0^/'-P86X^/"]S<&%N/CPO=&0^ M#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$2!&:6QE'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@ M("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$2!&:6QE3PO=&0^#0H@("`@("`@(#QT9"!C;&%S M'0^3F]N+6%C8V5L97)A=&5D($9I;&5R/'-P86X^/"]S<&%N/CPO M=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO M=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$'1087)T7S@R.3%E9F%F7V4R,#A?-#DU-U]B93$Q7V0U M8C9A9F(P8C4Q,PT*0V]N=&5N="U,;V-A=&EO;CH@9FEL93HO+R]#.B\X,CDQ M969A9E]E,C`X7S0Y-3=?8F4Q,5]D-6(V869B,&(U,3,O5V]R:W-H965T'0O:F%V87-C3X-"B`@("`\=&%B;&4@8VQA M'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@ M/'1R(&-L87-S/3-$F%T:6]N(&]F M("9N8G-P.R0R,36%B;&5S/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M M<#XV-C`L.#DY/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S M2!D97!O'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C M;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T* M("`@("`@/'1R(&-L87-S/3-$'0O:F%V87-C3X-"B`@ M("`\=&%B;&4@8VQA'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@ M("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@ M("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$F5D/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XQ M,#`L,#`P+#`P,#QS<&%N/CPO'0^/'-P86X^ M/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^ M/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$ M'0^/'-P86X^/"]S<&%N/CPO=&0^ M#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^ M#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$3X-"CPO:'1M;#X-"@T*+2TM M+2TM/5].97AT4&%R=%\X,CDQ969A9E]E,C`X7S0Y-3=?8F4Q,5]D-6(V869B M,&(U,3,-"D-O;G1E;G0M3&]C871I;VXZ(&9I;&4Z+R\O0SHO.#(Y,65F869? M93(P.%\T.34W7V)E,3%?9#5B-F%F8C!B-3$S+U=O'0O:'1M;#L@8VAA7!E(&-O;G1E;G0],T0G=&5X="]H=&UL.R!C:&%R M&-H86YG92!R871E'0^/'-P86X^/"]S<&%N/CPO M=&0^#0H@("`@("`@(#QT9"!C;&%S'1I;F=U:7-H;65N="!O9B!D96)T/"]T9#X-"B`@("`@("`@/'1D M(&-L87-S/3-$;G5M<#XV,2PP.3,\'0O:F%V87-C3X- M"B`@("`\=&%B;&4@8VQA'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@ M(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@ M(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@ M(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\ M+W1R/@T*("`@("`@/'1R(&-L87-S/3-$F5D(&%P<')E8VEA M=&EO;B!O;B!S96-U&5S(&]F("9N8G-P.R0Q,30@*#(P,3$I(&%N9"`F;F)S<#LD-SD@*#(P M,3`I(&9O'0O:F%V87-C M3X-"B`@("`\=&%B;&4@ M8VQA&5S(&]N(&-H86YG97,@ M:6X@9F%I7!E.B!T97AT+VAT;6P[(&-H87)S970](G5S+6%S8VEI M(@T*#0H\:'1M;#X-"B`@/&AE860^#0H@("`@/$U%5$$@:'1T<"UE<75I=CTS M1$-O;G1E;G0M5'EP92!C;VYT96YT/3-$)W1E>'0O:'1M;#L@8VAA7!E/3-$=&5X="]J879A'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@ M(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R M(&-L87-S/3-$F%T:6]N(&]F(&1E9F5RF%T:6]N(&]F M(&1E8G0@9&ES8V]U;G0\+W1D/@T*("`@("`@("`\=&0@8VQA&-H86YG M92!A9&IU&5S/"]T9#X-"B`@("`@("`@/'1D M(&-L87-S/3-$;G5M<#XX+#8W,SQS<&%N/CPO'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S M'0^/'-P86X^ M/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$ M6UE;G1S/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M M/B@X,"PQ.34I/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S M7!E(&QE87-E'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@ M("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$'0^ M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO M=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$6UE;G1S(&EN(')E9'5C=&EO;B!O9B!D96)T(&9I;F%N8VEN M9SPO=&0^#0H@("`@("`@(#QT9"!C;&%S2!A;F0@'0^/'-P86X^/"]S<&%N M/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\ M+W1R/@T*("`@("`@/'1R(&-L87-S/3-$&EM871E;'D@)FYB"!L:6%B:6QI='DN#0H\+W1D/@T*("`@ M("`@/"]T7!E.B!T97AT+VAT;6P[(&-H87)S970] M(G5S+6%S8VEI(@T*#0H\:'1M;#X-"B`@/&AE860^#0H@("`@/$U%5$$@:'1T M<"UE<75I=CTS1$-O;G1E;G0M5'EP92!C;VYT96YT/3-$)W1E>'0O:'1M;#L@ M8VAA'0^/'-P86X^/"]S M<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S M<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$'0^/'-P86X^/"]S<&%N/CPO M=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO M=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$F5D(&9O'0^/'-P M86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S M/3-$F5D(&EN(&EN8V]M93PO=&0^#0H@("`@("`@(#QT M9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@ M("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S3X-"CPO:'1M;#X-"@T*+2TM+2TM/5].97AT4&%R=%\X,CDQ969A9E]E M,C`X7S0Y-3=?8F4Q,5]D-6(V869B,&(U,3,-"D-O;G1E;G0M3&]C871I;VXZ M(&9I;&4Z+R\O0SHO.#(Y,65F869?93(P.%\T.34W7V)E,3%?9#5B-F%F8C!B M-3$S+U=O'0O:'1M;#L@8VAA'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@ M("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$'0^/"$M+41/0U194$4@ M:'1M;"!054),24,@(BTO+U&AT;6PQ+T141"]X:'1M M;#$M=')A;G-I=&EO;F%L+F1T9"(@+2T^#0H@("`\(2TM($)E9VEN($)L;V-K M(%1A9V=E9"!.;W1E(#$@+2!U6QE/3-$)V9O;G0M9F%M:6QY M.B`G5&EM97,@3F5W(%)O;6%N)RQ4:6UE6QE/3-$)V9O;G0M6QE/3-$)V9O;G0MF4Z(#$P<'0[(&UAF4Z(#$P<'0[(&UA2UO=VYE9"!S M=6)S:61I87)Y(&]F($%)1RX@04E'(&ES(&$@:&]L9&EN9R!C;VUP86YY+"!W M:&EC:"P-"B`@('1H2!'04%0(&9O6EN M9R!U;F%U9&ET960L(&-O;F1E;G-E9"P@8V]N6QE/3-$)V9O;G0M65A65E65A'!E8W1E M9"!F;W(@=&AE('EE87(@96YD:6YG($1E8V5M8F5R)B,Q-C`[,S$L(#(P,3$N M(%1H97-E('-T871E;65N=',@'0O:F%V87-C3X-"B`@("`\=&%B;&4@8VQA6QE/3-$)V9O;G0M9F%M M:6QY.B`G5&EM97,@3F5W(%)O;6%N)RQ4:6UEF4Z(#$P<'0[(&UA2!N97<@86-C;W5N=&EN9R!S=&%N9&%R9',@ M9'5R:6YG('1H92!F:7)S="!S:7@@;6]N=&AS(&]F(#(P,3$N#0H@("`\+V1I M=CX-"B`@(#QD:78@86QI9VX],T1L969T('-T>6QE/3-$)V9O;G0M6QE/3-$)V9O M;G0MF4Z(#$P<'0[(&UA2!C2!I;B!T:&4@9FER2!A6QE/3-$)V9O;G0M9F%M:6QY.B`G5&EM97,@ M3F5W(%)O;6%N)RQ4:6UE6QE/3-$)V9O;G0MF4Z(#$P<'0[(&UA6QE/3-$)V9O;G0M28C,38P.S(P,3$L('1H92!&05-"(&ES2!T;R!A8VAI979E('1H92!&05-")B,X M,C$W.W,@;V)J96-T:79E(&]F(&$-"B`@(&-O;G9E2P@=VAE;B!T:&4@;F5W('-T86YD87)D(&)E8V]M M97,@969F96-T:79E(&]N($IA;G5A&-E<'1I;VYS(&EN8VQU9&EN9R!T:&4@86-C;W5N=&EN9R!F;W(@9&%Y(&]N M90T*("`@9V%I;G,@86YD(&QO2!A9F9E8W0@8W5R0T*("`@ M,2P@,C`Q,BX@268@9&EF9F5R96YT(&9A:7(@=F%L=64@;65A2X@26X@=&AE('!E6QE/3-$)V9O;G0M2!A9&]P=&EO;B!I7!E.B!T97AT+VAT;6P[(&-H87)S970](G5S M+6%S8VEI(@T*#0H\:'1M;#X-"B`@/&AE860^#0H@("`@/$U%5$$@:'1T<"UE M<75I=CTS1$-O;G1E;G0M5'EP92!C;VYT96YT/3-$)W1E>'0O:'1M;#L@8VAA M'0^/'-P86X^ M/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$ M&AT;6PQ+71R86YS:71I;VYA;"YD=&0B("TM/@T*("`@/"$M+2!" M96=I;B!";&]C:R!486=G960@3F]T92`S("T@:6QF8SI297-T'1";&]C:RTM/@T*("`@/&1I=B!S='EL93TS1"=F;VYT+69A;6EL>3H@ M)U1I;65S($YE=R!2;VUA;B6QE/3-$)V9O;G0M2`H2X@070@2G5N928C,38P.S,P+"`R,#$Q+"!W92!H860@2!D97!O2!D97!OF%T:6]N(&%G2!D97!O6QE/3-$)V9O;G0M9F%M:6QY.B`G M5&EM97,@3F5W(%)O;6%N)RQ4:6UE6QE/3-$)V9O;G0MF4Z(#$P<'0[(&UA2!F;W)M960-"B`@('-U8G-I9&EA6QE/3-$)V9O;G0M'0O:F%V87-C3X-"B`@ M("`\=&%B;&4@8VQA6QE/3-$)V9O;G0M9F%M:6QY.B`G5&EM97,@3F5W(%)O;6%N)RQ4:6UEF4Z(#$P<'0[(&UAF4Z(#$P<'0[(&UA2!I;B!O=7(@86QL M;W=A;F-E(&9OF4Z(#$P<'0[('1E>'0M86QI9VXZ(&QE9G0G(&-E;&QS<&%C:6YG/3-$ M,"!B;W)D97(],T0P(&-E;&QP861D:6YG/3-$,"!W:61T:#TS1#$P,"4^#0H@ M("`\(2TM($)E9VEN(%1A8FQE($AE860@+2T^#0H@("`\='(@=F%L:6=N/3-$ M8F]T=&]M/@T*("`@("`@(#QT9"!W:61T:#TS1#@X)3XF(S$V,#L\+W1D/@T* M("`@("`@(#QT9"!W:61T:#TS1#4E/B8C,38P.SPO=&0^#0H@("`@("`@/'1D M('=I9'1H/3-$,24^)B,Q-C`[/"]T9#X-"B`@("`@("`\=&0@=VED=&@],T0U M)3XF(S$V,#L\+W1D/@T*("`@("`@(#QT9"!W:61T:#TS1#$E/B8C,38P.SPO M=&0^#0H@("`\+W1R/@T*("`@/'1R('-T>6QE/3-$)V9O;G0M6QE/3-$)V)A8VMG#L@=&5X="UI;F1E;G0Z+3$U<'@G/D%L;&]W86YC92!F M;W(@8W)E9&ET(&QO6QE/3-$)VUA'0M:6YD96YT M.BTQ-7!X)SY"86QA;F-E(&%T($1E8V5M8F5R)B,Q-C`[,S$L(#(P,3`-"B`@ M(#PO9&EV/CPO=&0^#0H@("`@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@("`@ M/'1D(&%L:6=N/3-$;&5F=#XF;F)S<#LD/"]T9#X-"B`@("`@("`\=&0@86QI M9VX],T1R:6=H=#XR,2PP-#(\+W1D/@T*("`@("`@(#QT9#XF(S$V,#L\+W1D M/@T*("`@/"]T"<^ M4')O=FES:6]N#0H@("`\+V1I=CX\+W1D/@T*("`@("`@(#QT9#XF(S$V,#L\ M+W1D/@T*("`@("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@("`@(#QT9"!A;&EG M;CTS1')I9VAT/C$R+#$V,SPO=&0^#0H@("`@("`@/'1D/B8C,38P.SPO=&0^ M#0H@("`\+W1R/@T*("`@/'1R('9A;&EG;CTS1&)O='1O;3X-"B`@("`@("`\ M=&0^#0H@("`\9&EV('-T>6QE/3-$)VUA'0M M:6YD96YT.BTQ-7!X)SY7"<^4F5C;W9E#L@=&5X="UI;F1E;G0Z+3$U<'@G/B8C,38P.PT*("`@ M/"]D:78^/"]T9#X-"B`@("`@("`\=&0^)B,Q-C`[/"]T9#X-"B`@("`@("`\ M=&0@;F]W6QE/3-$)VUA'0M:6YD96YT.BTQ-7!X)SY" M86QA;F-E(&%T($IU;F4F(S$V,#LS,"P@,C`Q,0T*("`@/"]D:78^/"]T9#X- M"B`@("`@("`\=&0^)B,Q-C`[/"]T9#X-"B`@("`@("`\=&0@86QI9VX],T1L M969T/B9N8G-P.R0\+W1D/@T*("`@("`@(#QT9"!A;&EG;CTS1')I9VAT/C,Q M+#8W-#PO=&0^#0H@("`@("`@/'1D/B8C,38P.SPO=&0^#0H@("`\+W1R/@T* M("`@/'1R('-T>6QE/3-$)V9O;G0M6QE/3-$)VUA'0M:6YD M96YT.BTQ-7!X)SXF(S$V,#L-"B`@(#PO9&EV/CPO=&0^#0H@("`@("`@/'1D M/B8C,38P.SPO=&0^#0H@("`@("`@("`@(#QT9"!N;W=R87`],T1N;W=R87`@ M8V]L2`M+3X-"B`@(#PO=&%B;&4^#0H@("`\+V1I=CX-"B`@(#PA+2T@1F]L:6\@ M+2T^#0H@("`\(2TM("]&;VQI;R`M+3X-"B`@(#PO9&EV/@T*("`@/"$M+2!0 M04=%0E)%04L@+2T^#0H@("`\9&EV('-T>6QE/3-$)V9O;G0M9F%M:6QY.B`G M5&EM97,@3F5W(%)O;6%N)RQ4:6UE6QE/3-$)V9O;G0M7!E.B!T97AT+VAT;6P[(&-H87)S970](G5S+6%S8VEI(@T*#0H\:'1M M;#X-"B`@/&AE860^#0H@("`@/$U%5$$@:'1T<"UE<75I=CTS1$-O;G1E;G0M M5'EP92!C;VYT96YT/3-$)W1E>'0O:'1M;#L@8VAA&AT;6PQ+71R86YS:71I;VYA;"YD=&0B M("TM/@T*("`@/"$M+2!"96=I;B!";&]C:R!486=G960@3F]T92`U("T@:6QF M8SI!:7)C6QE/3-$)V9O;G0M9F%M:6QY.B`G5&EM M97,@3F5W(%)O;6%N)RQ4:6UEF4Z(#$P<'0[(&UA6QE/3-$)V9O;G0M"!M;VYT M:',@96YD960@2G5N928C,38P.S,P+"`R,#$Q(&%N9"`R,#$P+"!R97-P96-T M:79E;'DZ#0H@("`\+V1I=CX-"B`@(#QD:78@86QI9VX],T1C96YT97(^#0H@ M("`\=&%B;&4@6QE/3-$)V9O M;G0M"!-;VYT:',@ M16YD960\+W1D/@T*("`@("`@(#QT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M M.B`Q<'@@6QE/3-$)V)O"!S M;VQI9"`C,#`P,#`P)SY*=6YE(#,P+"`R,#$Q/"]T9#X-"B`@("`@("`\=&0^ M)B,Q-C`[/"]T9#X-"B`@("`@("`\=&0^)B,Q-C`[/"]T9#X-"B`@("`@("`\ M=&0@;F]W6QE/3-$)V)O"!S;VQI9"`C,#`P,#`P)SY* M=6YE(#,P+"`R,#$P/"]T9#X-"B`@("`@("`\=&0^)B,Q-C`[/"]T9#X-"B`@ M("`@("`\=&0^)B,Q-C`[/"]T9#X-"B`@("`@("`\=&0@;F]W6QE/3-$)V)O"!S;VQI9"`C,#`P,#`P)SY*=6YE(#,P+"`R,#$Q/"]T M9#X-"B`@("`@("`\=&0^)B,Q-C`[/"]T9#X-"B`@("`@("`\=&0^)B,Q-C`[ M/"]T9#X-"B`@("`@("`\=&0@;F]W6QE/3-$)V)O"!S M;VQI9"`C,#`P,#`P)SY*=6YE(#,P+"`R,#$P/"]T9#X-"B`@("`@("`\=&0@ M6QE/3-$)V9O;G0M6QE/3-$)V)O"!S;VQI9"`C,#`P,#`P)SXF(S$V M,#L\+W1D/@T*("`@("`@(#QT9"!N;W=R87`],T1N;W=R87`@86QI9VX],T1C M96YT97(@8V]L6QE/3-$)V)O"!S;VQI9"`C,#`P,#`P)SXF(S$V,#L\+W1D/@T*("`@("`@(#QT9"!N M;W=R87`],T1N;W=R87`@86QI9VX],T1C96YT97(@8V]L6QE/3-$)V)O"!S;VQI9"`C,#`P,#`P)SXF(S$V M,#L\+W1D/@T*("`@("`@(#QT9"!N;W=R87`],T1N;W=R87`@86QI9VX],T1C M96YT97(@8V]L6QE/3-$)V)O"!S;VQI9"`C,#`P,#`P)SXF(S$V,#L\+W1D/@T*("`@("`@(#QT9"!N M;W=R87`],T1N;W=R87`@86QI9VX],T1C96YT97(@8V]L6QE/3-$)V)O"!S;VQI9"`C,#`P,#`P)SXF(S$V M,#L\+W1D/@T*("`@("`@(#QT9"!N;W=R87`],T1N;W=R87`@86QI9VX],T1C M96YT97(@8V]L6QE/3-$)V)O"!S;VQI9"`C,#`P,#`P)SXF(S$V,#L\+W1D/@T*("`@("`@(#QT9"!N M;W=R87`],T1N;W=R87`@86QI9VX],T1C96YT97(@8V]L6QE/3-$)V)O"!S;VQI9"`C,#`P,#`P)SXF(S$V M,#L\+W1D/@T*("`@("`@(#QT9"!N;W=R87`],T1N;W=R87`@86QI9VX],T1C M96YT97(@8V]L6QE/3-$)V9O;G0M6QE/3-$)VUA M'0M:6YD96YT.BTQ-7!X)SY);7!A:7)M96YT M(`T*("`@8VAA6QE/3-$)V)A8VMG#L@=&5X="UI;F1E;G0Z M+3$U<'@G/DEM<&%I6QE/3-$)V)O"!S;VQI9"`C,#`P,#`P)SXF(S$V,#L\+W1D/@T*("`@("`@(#QT9"`@ M6QE/3-$)V)O"!S M;VQI9"`C,#`P,#`P)SXF(S$V,#L\+W1D/@T*("`@("`@(#QT9"!C;VQS<&%N M/3-$-R!A;&EG;CTS1&QE9G0@6QE/3-$ M)VUA'0M:6YD96YT.BTQ-7!X)SY4;W1A;"`- M"B`@($EM<&%I2`M+3X-"B`@(#PO M=&%B;&4^#0H@("`\+V1I=CX-"B`@(#QD:78@86QI9VX],T1L969T/@T*("`@ M/&1I=B!S='EL93TS1"=F;VYT+7-I>F4Z(#-P=#L@;6%R9VEN+71O<#H@,39P M=#L@=VED=&@Z(#$X)3L@8F]R9&5R+71O<#H@,7!X('-O;&ED(",P,#`P,#`G M/B8C,38P.PT*("`@/"]D:78^#0H@("`\+V1I=CX-"B`@(#QT86)L92!W:61T M:#TS1#$P,"4@8F]R9&5R/3-$,"!C96QL<&%D9&EN9STS1#`@8V5L;'-P86-I M;F<],T0P('-T>6QE/3-$)V9O;G0M6QE/3-$)V9O;G0M6QE/3-$)V9O;G0M6QE/3-$)VUA'0M86QI9VXZ(&QE9G0G/@T*("`@/'1R('9A;&EG;CTS M1'1O<"!S='EL93TS1"=F;VYT+7-I>F4Z(#$P<'0[(&-O;&]R.B`C,#`P,#`P M.R!B86-K9W)O=6YD.B!T2!T:&%N(&YO="!T;R!B92!S;VQD+"!B=70@9&ED M(&YO=`T*("`@;65E="!T:&4@8W)I=&5R:6$@6QE/3-$)V9O;G0M6QE M/3-$)V)A8VMG6QE/3-$)VUA'0M86QI9VXZ(&QE9G0G/@T*("`@/'1R('9A;&EG;CTS1'1O<"!S M='EL93TS1"=F;VYT+7-I>F4Z(#$P<'0[(&-O;&]R.B`C,#`P,#`P.R!B86-K M9W)O=6YD.B!T2!I;7!A:7)M96YT(&-H87)G97,@;VX@86ER8W)A9G0@9&5S:6=N871E M9"!F;W(@<&%R="UO=70-"B`@(&9O6QE/3-$ M)V9O;G0M6QE M/3-$)V9O;G0M6QE/3-$)VUA'0M86QI9VXZ(&QE9G0G/@T*("`@/'1R('9A;&EG;CTS1'1O<"!S M='EL93TS1"=F;VYT+7-I>F4Z(#$P<'0[(&-O;&]R.B`C,#`P,#`P.R!B86-K M9W)O=6YD.B!T6QE/3-$)V9O;G0M6QE/3-$ M)V)A8VMG6QE M/3-$)V9O;G0M6QE/3-$)V)A8VMG6QE M/3-$)V9O;G0M"!M;VYT:',@96YD960@2G5N928C,38P.S,P+"`R M,#$Q/"]I/@T*("`@/"]D:78^#0H@("`\9&EV(&%L:6=N/3-$;&5F="!S='EL M93TS1"=F;VYT+7-I>F4Z(#$P<'0[(&UA"!M;VYT:',@96YD960@2G5N928C M,38P.S,P+"`R,#$Q+"!D=64@=&\@=&AE(&9O;&QO=VEN9R!F86-T;W)S.@T* M("`@/"]D:78^#0H@("`\9&EV('-T>6QE/3-$)VUA'0M86QI9VXZ(&QE9G0G/@T*("`@/'1R('9A;&EG;CTS1'1O<"!S M='EL93TS1"=F;VYT+7-I>F4Z(#$P<'0[(&-O;&]R.B`C,#`P,#`P.R!B86-K M9W)O=6YD.B!T2!T M:&%N(&YO="!T;R!B92!S;VQD+"!B=70@9&ED(&YO=`T*("`@;65E="!T:&4@ M8W)I=&5R:6$@6QE/3-$)V9O;G0M6QE M/3-$)V)A8VMG2!C;&%S6QE/3-$)V9O;G0M6QE M/3-$)V)A8VMGF4Z(#$P<'0[ M(&UA6QE/3-$)V9O;G0M6QE/3-$)V9O;G0M6QE/3-$)V9O;G0MF4Z(#$P<'0[(&-O;&]R.B`C,#`P,#`P.R!B86-K9W)O M=6YD.B!T2!T;R!R97!A>2!M871U2`F;F)S<#LD,BXP)B,Q-C`[8FEL;&EO M;BX@3VX@2G5L>28C,38P.S8L(#(P,3`L('=E('-I9VYE9"!A;B!A9W)E96UE M;G0@=&\-"B`@('-E;&P@86X@861D:71I;VYA;"!S:7@@86ER8W)A9G0@=&\@ M86YO=&AE2X@07,@;V8@2G5N928C,38P.S,P+"`R,#$P M+"`U-@T*("`@;V8@=&AE(#4Y(&%I'0O:F%V87-C3X-"B`@ M("`\=&%B;&4@8VQA6QE/3-$ M)V9O;G0MF4Z(#$P<'0[ M(&UA6QE/3-$)V9O;G0M6QE/3-$)V)O"!S M;VQI9"`C,#`P,#`P)SX\+W1D/@T*("`@("`@(#QT9#XF(S$V,#L\+W1D/@T* M("`@("`@(#QT9"!N;W=R87`],T1N;W=R87`@86QI9VX],T1C96YT97(@8V]L M6QE/3-$)V)O M"!S;VQI9"`C,#`P,#`P)SXF(S$V,#L\+W1D/@T* M("`@("`@(#QT9"`@6QE/3-$)VUA'0M:6YD96YT.BTQ-7!X)SY"86QA;F-E(&%T($1E8V5M M8F5R)B,Q-C`[,S$L(#(P,3`-"B`@(#PO9&EV/CPO=&0^#0H@("`@("`@/'1D M/B8C,38P.SPO=&0^#0H@("`@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@("`@ M/'1D(&%L:6=N/3-$#L@=&5X="UI;F1E;G0Z M+3$U<'@G/E1R86YS9F5R6QE/3-$)VUA'0M M:6YD96YT.BTQ-7!X)SY46QE/3-$ M)V9O;G0M6QE M/3-$)VUA'0M:6YD96YT.BTQ-7!X)SXF(S$V M,#L-"B`@(#PO9&EV/CPO=&0^#0H@("`@("`@/'1D/B8C,38P.SPO=&0^#0H@ M("`@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!C;VQS<&%N/3-$,B!A;&EG;CTS M1')I9VAT('-T>6QE/3-$)V)O"!S;VQI9"`C,#`P,#`P M)SXF(S$V,#L\+W1D/@T*("`@("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@("`@ M(#QT9#XF(S$V,#L\+W1D/@T*("`@("`@(#QT9"!N;W=R87`],T1N;W=R87`@ M8V]L6QE/3-$)V)A8VMG#L@=&5X="UI;F1E M;G0Z+3$U<'@G/D9L:6=H="!E<75I<&UE;G0@:&5L9"!F;W(@6QE/3-$)V9O;G0M6QE/3-$)VUA'0M M:6YD96YT.BTQ-7!X)SXF(S$V,#L-"B`@(#PO9&EV/CPO=&0^#0H@("`@("`@ M/'1D/B8C,38P.SPO=&0^#0H@("`@("`@("`@(#QT9"!N;W=R87`],T1N;W=R M87`@8V]L2`M+3X-"B`@(#PO=&%B;&4^ M#0H@("`\+V1I=CX-"B`@(#QD:78@86QI9VX],T1L969T('-T>6QE/3-$)V9O M;G0M'!E;G-E(&]N(&%I"!M;VYT:',@96YD M960@2G5N928C,38P.S,P+"`R,#$Q+"!W92!T6QE/3-$)V9O;G0M"!A:7)C2X-"B`@(#PO9&EV/@T*("`@/&1I=B!A;&EG;CTS1&QE9G0@ M3X-"CPO M:'1M;#X-"@T*+2TM+2TM/5].97AT4&%R=%\X,CDQ969A9E]E,C`X7S0Y-3=? M8F4Q,5]D-6(V869B,&(U,3,-"D-O;G1E;G0M3&]C871I;VXZ(&9I;&4Z+R\O M0SHO.#(Y,65F869?93(P.%\T.34W7V)E,3%?9#5B-F%F8C!B-3$S+U=O'0O:'1M;#L@ M8VAA'0^/"$M+41/0U194$4@:'1M;"!054),24,@(BTO+U&AT;6PQ+T141"]X:'1M;#$M=')A;G-I=&EO;F%L+F1T9"(@+2T^ M#0H@("`\(2TM($)E9VEN($)L;V-K(%1A9V=E9"!.;W1E(#<@+2!U6QE/3-$ M)V9O;G0M9F%M:6QY.B`G5&EM97,@3F5W(%)O;6%N)RQ4:6UEF4Z(#$P M<'0[(&UA6QE/3-$)V9O;G0M6QE/3-$)V)O M"!S;VQI9"`C,#`P,#`P)SXR,#$Q/"]T9#X-"B`@ M("`@("`\=&0^)B,Q-C`[/"]T9#X-"B`@("`@("`\=&0^)B,Q-C`[/"]T9#X- M"B`@("`@("`\=&0@;F]W6QE/3-$)V)O"!S;VQI9"`C M,#`P,#`P)SXR,#$P/"]T9#X-"B`@("`@("`\=&0^)B,Q-C`[/"]T9#X-"B`@ M(#PO='(^#0H@("`\='(@6QE/3-$)V)A M8VMG#L@=&5X="UI;F1E;G0Z+3$U<'@G/E-E M8W5R960-"B`@(#PO9&EV/CPO=&0^#0H@("`@("`@/'1D/B8C,38P.SPO=&0^ M#0H@("`@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@("`@/'1D/B8C,38P.SPO M=&0^#0H@("`@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@("`@/'1D/B8C,38P M.SPO=&0^#0H@("`@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@("`@/'1D/B8C M,38P.SPO=&0^#0H@("`@("`@/'1D/B8C,38P.SPO=&0^#0H@("`\+W1R/@T* M("`@/'1R('9A;&EG;CTS1&)O='1O;3X-"B`@("`@("`\=&0^#0H@("`\9&EV M('-T>6QE/3-$)VUA'0M:6YD96YT.BTQ-7!X M)SY396YI;W(@"<^14-!(&9I;F%N8VEN9W,-"B`@(#PO9&EV M/CPO=&0^#0H@("`@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@("`@/'1D/B8C M,38P.SPO=&0^#0H@("`@("`@/'1D(&%L:6=N/3-$"<^0F%N:R!D96)T("AA*0T*("`@/"]D:78^ M/"]T9#X-"B`@("`@("`\=&0^)B,Q-C`[/"]T9#X-"B`@("`@("`\=&0^)B,Q M-C`[/"]T9#X-"B`@("`@("`\=&0@86QI9VX],T1R:6=H=#XQ+#8P,2PY-S,\ M+W1D/@T*("`@("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@("`@(#QT9#XF(S$V M,#L\+W1D/@T*("`@("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@("`@(#QT9"!A M;&EG;CTS1')I9VAT/C$L-C`Q+#8U.#PO=&0^#0H@("`@("`@/'1D/B8C,38P M.SPO=&0^#0H@("`\+W1R/@T*("`@/'1R('9A;&EG;CTS1&)O='1O;2!S='EL M93TS1"=B86-K9W)O=6YD.B`C8V-E969F)SX-"B`@("`@("`\=&0^#0H@("`\ M9&EV('-T>6QE/3-$)VUA'0M:6YD96YT.BTQ M-7!X)SY/=&AE"<^3&5S"<^)B,Q-C`[#0H@("`\+V1I=CX\+W1D M/@T*("`@("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@("`@(#QT9"!N;W=R87`] M,T1N;W=R87`@8V]L6QE/3-$ M)VUA'0M:6YD96YT.BTQ-7!X)SXF(S$V,#L- M"B`@(#PO9&EV/CPO=&0^#0H@("`@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@ M("`@/'1D/B8C,38P.SPO=&0^#0H@("`@("`@/'1D(&%L:6=N/3-$"<^56YS96-U"<^0F]N9',@86YD($UE9&EU;2U497)M($YO M=&5S#0H@("`\+V1I=CX\+W1D/@T*("`@("`@(#QT9#XF(S$V,#L\+W1D/@T* M("`@("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@("`@(#QT9"!A;&EG;CTS1')I M9VAT/C$T+#@W,"PU-C(\+W1D/@T*("`@("`@(#QT9#XF(S$V,#L\+W1D/@T* M("`@("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@("`@(#QT9#XF(S$V,#L\+W1D M/@T*("`@("`@(#QT9"!A;&EG;CTS1')I9VAT/C$V+#@Q,"PX-#,\+W1D/@T* M("`@("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@/"]T"<^0F%N:R!D96)T M#0H@("`\+V1I=CX\+W1D/@T*("`@("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@ M("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@("`@(#QT9"!A;&EG;CTS1')I9VAT M/C(P-RPP,#`\+W1D/@T*("`@("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@("`@ M(#QT9#XF(S$V,#L\+W1D/@T*("`@("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@ M("`@(#QT9"!A;&EG;CTS1')I9VAT/C(S-"PV,#`\+W1D/@T*("`@("`@(#QT M9#XF(S$V,#L\+W1D/@T*("`@/"]T"<^3&5S"<^)B,Q-C`[#0H@("`\+V1I=CX\+W1D/@T* M("`@("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@("`@(#QT9"!N;W=R87`],T1N M;W=R87`@8V]L6QE/3-$)VUA'0M:6YD96YT.BTQ M-7!X)SXF(S$V,#L-"B`@(#PO9&EV/CPO=&0^#0H@("`@("`@/'1D/B8C,38P M.SPO=&0^#0H@("`@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@("`@/'1D(&%L M:6=N/3-$6QE/3-$)V9O;G0M6QE/3-$)VUA'0M:6YD96YT M.BTQ-7!X)SXF(S$V,#L-"B`@(#PO9&EV/CPO=&0^#0H@("`@("`@/'1D/B8C M,38P.SPO=&0^#0H@("`@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!C;VQS<&%N M/3-$,B!A;&EG;CTS1')I9VAT('-T>6QE/3-$)V)O"!S M;VQI9"`C,#`P,#`P)SXF(S$V,#L\+W1D/@T*("`@("`@(#QT9#XF(S$V,#L\ M+W1D/@T*("`@("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@("`@(#QT9"!N;W=R M87`],T1N;W=R87`@8V]L6QE/3-$)V)A8VMG#L@=&5X="UI;F1E;G0Z+3$U<'@G/E1O=&%L(%-E;FEO6QE/3-$ M)VUA'0M:6YD96YT.BTQ-7!X)SY3=6)O6QE/3-$)V9O;G0M6QE/3-$)VUA'0M:6YD96YT.BTQ M-7!X)SXF(S$V,#L-"B`@(#PO9&EV/CPO=&0^#0H@("`@("`@/'1D/B8C,38P M.SPO=&0^#0H@("`@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!C;VQS<&%N/3-$ M,B!A;&EG;CTS1')I9VAT('-T>6QE/3-$)V)O"!S;VQI M9"`C,#`P,#`P)SXF(S$V,#L\+W1D/@T*("`@("`@(#QT9#XF(S$V,#L\+W1D M/@T*("`@("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@("`@(#QT9"!N;W=R87`] M,T1N;W=R87`@8V]L6QE/3-$)V)A8VMG#L@ M=&5X="UI;F1E;G0Z+3$U<'@G/B8C,38P.PT*("`@/"]D:78^/"]T9#X-"B`@ M("`@("`\=&0^)B,Q-C`[/"]T9#X-"B`@("`@("`\=&0@86QI9VX],T1L969T M/B9N8G-P.R0\+W1D/@T*("`@("`@(#QT9"!A;&EG;CTS1')I9VAT/C(U+#,V M-BPR.#0\+W1D/@T*("`@("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@("`@(#QT M9#XF(S$V,#L\+W1D/@T*("`@("`@(#QT9"!A;&EG;CTS1&QE9G0^)FYB6QE/3-$)V9O;G0M6QE/3-$)VUA'0M:6YD96YT.BTQ M-7!X)SXF(S$V,#L-"B`@(#PO9&EV/CPO=&0^#0H@("`@("`@/'1D/B8C,38P M.SPO=&0^#0H@("`@("`@("`@(#QT9"!N;W=R87`],T1N;W=R87`@8V]L2`M+3X-"B`@(#PO=&%B;&4^#0H@("`\+V1I M=CX-"B`@(#QD:78@86QI9VX],T1L969T/@T*("`@/&1I=B!S='EL93TS1"=F M;VYT+7-I>F4Z(#-P=#L@;6%R9VEN+71O<#H@,39P=#L@=VED=&@Z(#$X)3L@ M8F]R9&5R+71O<#H@,7!X('-O;&ED(",P,#`P,#`G/B8C,38P.PT*("`@/"]D M:78^#0H@("`\+V1I=CX-"B`@(#QT86)L92!W:61T:#TS1#$P,"4@8F]R9&5R M/3-$,"!C96QL<&%D9&EN9STS1#`@8V5L;'-P86-I;F<],T0P('-T>6QE/3-$ M)V9O;G0M2!6245S(&%N9"!C;VYS;VQI9&%T960@:6YT;R`-"B`@ M(&]U0T*("`@:&5D M9VEN9R!A;F0@:6YT97)E6QE/3-$)V9O;G0M M2UO=VYE9`T*("`@2!B96YE9FEC M:6%R>2!O9B!S=6-H(%9)17,@86YD+"!A8V-O2P@=V4@8V]NF4Z M(#$P<'0[(&UA6QE M/3-$)V9O;G0M0T*("`@8V]N2!T:6UE('!R:6]R('1O('1H96ER(&UA='5R:71Y+"!P7,@<')I;W(@=&\@=&AE(&EN=&5N9&5D(')E9&5M<'1I;VX@ M9&%T92!A;F0@6QE/3-$)V9O;G0M2!D:79I9&5N9',@;W(@86-Q=6ER92!OF4Z(#$P<'0[(&UA M2!E=F5N=',@;V8@9&5F875L="P@:6YC;'5D:6YG(&)U M="!N;W0@;&EM:71E9"!T;RP-"B`@('1H92!F86EL=7)E('1O('!A>2!S8VAE M9'5L960@<')I;F-I<&%L(&%N9"!I;G1E2!E=F5N="!O9B!D969A=6QT(&]C8W5R6%B M;&4N#0H@("`\+V1I=CX-"B`@(#QD:78@86QI9VX],T1L969T('-T>6QE/3-$ M)V9O;G0M2!A9W)E96UE;G1S(&EN(#$Y.3D@86YD(#(P,#0@=&AR;W5G M:"!C97)T86EN(&1I2UO=VYE M9"!S=6)S:61I87)I97,@=&AA="!H879E(&)E96X@9&5S:6=N871E9"!A2!V M87)I;W5S($5UF5D('1H92!D96)T('=I=&@@<&QE9&=E2UO=VYE9"!S=6)S:61I87)I97,@=&AA="!H;VQD('1I=&QE#0H@("!T M;R!T:&4@86ER8W)A9G0@9FEN86YC960@=6YD97(@=&AE(&9A8VEL:71I97,N M#0H@("`\+V1I=CX-"B`@(#QD:78@86QI9VX],T1L969T('-T>6QE/3-$)V9O M;G0M2!H860@8F5E;B!P86ED M(&EN(&9U;&PN(%1H92!F86-I;&ET>2!I2P@87,@9G5R=&AE2P@=VAI8V@@=V%S(&%M96YD960@:6X@36%Y)B,Q-C`[,C`P.2!T;R!A M;&QO=PT*("`@=7,@=&\@8F]R65A2!A;6]R=&EZ:6YG(&QO86XN($%S(&]F($IU;F4F(S$V M,#LS,"P@,C`Q,2P-"B`@(&%P<')O>&EM871E;'D@)FYB2!A&5D(&]R(&)A M2!R97%U:7)E2!T2X@26X@861D:71I;VXL('=E(&UU2!R97%U:7)E M9"!T;PT*("`@8F4@9FEL960@;VX@86ER8W)A9G0@=VET:"!L;V%N(&)A;&%N M8V5S(&]U='-T86YD:6YG(&]R(&]T:&5R=VES92!A2`F;F)S<#LD,SDW)B,Q-C`[;6EL;&EO M;@T*("`@F4Z(#$P<'0[ M(&UA3L@/&D^*&EI*2`\+VD^86=R965D('1O(&=R86YT(&UO2!A;F0@2!A:7)C2X@07,@;V8@2G5N928C,38P.S,P+"`R,#$Q+"!T:&5R M92!W97)E(&YO(&]U='-T86YD:6YG#0H@("!O8FQI9V%T:6]N6QE/3-$)V9O;G0M2P-"B`@(')E2`F;F)S<#LD,3`N,R8C,38P.V)I;&QI;VXN(%1H92!D:7-P;W-I=&EO M;B!A;6]U;G0@=VEL;`T*("`@8F4@2!A<'!R;WAI;6%T96QY M("9N8G-P.R0Y,2XT)B,Q-C`[;6EL;&EO;B!A="!T:&4@96YD(&]F(&5A8V@@ M8V%L96YD87(@<75AF4Z M(#$P<'0[(&UAF4Z(#$P<'0[(&UA&EM=6T@86UO=6YT(&%V86EL M86)L92!W87,@)FYB2X@5&AE(&%M96YD960@9F%C:6QI='D@<')O:&EB M:71S('5S(&9R;VT@F4@;V8@=&AE(&9A8VEL:71Y(&ES("9N8G-P.R0Q+C4F(S$V,#MB:6QL:6]N M+B!!2!C;VYS:7-T2!S8VAE9'5L M960@;6%T=7)I='D@9&%T92!O9B!/8W1O8F5R)B,Q-C`[,3,L(#(P,3$L('=I M=&@@82!,24)/4B!B87-E9`T*("`@:6YT97)EF4Z(#$P<'0[(&UA2!N;W0-"B`@ M(&QE6UE;G1S+"`-"B`@(&QI96YS(&%N9"!S86QEF4Z(#$P<'0[(&UA2`F;F)S<#LD,2XS M)B,Q-C`[8FEL;&EO;BP@=VAI8V@@=V%S#0H@("!S=6)S97%U96YT;'D@:6YC M&EM871E;'D@)FYB0T*("`@ M24Q&0R!A;F0@;VX@82!S96-U0T*("`@8F]R M2!G2!I;F-L=61E M&EM871E;'D@)FYB28C,38P.S$L(#(P,3$N(%1H92`F;F)S<#LD,BXT)B,Q M-C`[8FEL;&EO;B!E<75A;',@86X@:6YI=&EA;`T*("`@;&]A;BUT;RUV86QU M92!R871I;R!O9B!A<'!R;WAI;6%T96QY(#8U)2!A;F0@=&AE(&5Q=6ET>2!I M;G1E2!B;W)R;W=E2P-"B`@(&%P<')O>&EM871E;'D@)FYBF4Z(#$P<'0[(&UA2!B;W)R;W=E&EM M=6T-"B`@(&QO86XM=&\M=F%L=64@F4Z(#$P<'0[(&UA M2!T:6UE+"!S=6)J96-T('1O(&$@,B4@<')E<&%Y;65N M="!P96YA;'1Y('!R:6]R#0H@("!T;R!-87)C:"8C,38P.S,P+"`R,#$R+"!A M;F0@82`Q)2!PF4Z(#$P<'0[(&UAF5S(&]V97(@=&AE(&QE87-E('1E2!A;6]R=&EZ97,@;W9E M2X@ M5&AE(&5N=&ET>0T*("`@96YT97)E9"!I;G1O('1W;R!I;G1E2!H961G92!T:&4@3H@)U1I;65S($YE=R!2;VUA;BF4Z M(#$P<'0[(&UA2P@=VAI8V@@;W=N65AF4Z(#$P<'0[(&UA6QE M/3-$)V9O;G0M2`T,PT*("`@86ER8W)A9G0@86YD(&%L;"!R96QA=&5D(&5Q=6EP;65N="!A M;F0@;&5A&EM871E;'D-"B`@(#4V)2X@5&AE(&QO M86X@;6%T=7)E2!T:6UE+B!/;B!-87)C M:"8C,38P.S$W+"`R,#$P+`T*("`@=V4@86QS;R!E;G1E2!F;W)M960-"B`@(&YO;BUR M97-T2!B;W)R;W=E2!C97)T86EN(&YO;BUR97-T&EM871E;'D@)FYB2`U-R4N(%1H92!L;V%N#0H@("!M871U6%B M;&4@:6X@9G5L;"!A="!M871U2!W:71H(&YO('-C:&5D=6QE9`T*("`@ M86UOF%T:6]N+B!4:&4@<')O8V5E9',@9G)O;2!T:&ES(&QO86X@87)E M(')E2`F;F)S<#LD,C0F(S$V,#MM:6QL M:6]N(&]F('1H92!P2!T:&4@;&]A;B!A="!A;GD@=&EM M92P@2!O9B!U0T*("`@86QL(&]F(&]U6QE/3-$)V9O;G0M6QE/3-$)V9O;G0M6QE/3-$)V9O;G0M65A6QE/3-$ M)V9O;G0M2`F;F)S<#LD,BXR,B8C,38P.V)I;&QI;VX@869T97(@9&5D=6-T M:6YG('5N9&5R=W)I=&EN9R!D:7-C;W5N=',@86YD(&-O;6UI6QE/3-$)V9O;G0M9F%M:6QY.B`G5&EM97,@3F5W(%)O;6%N)RQ4:6UE6QE/3-$)V9O;G0M MF4Z(#$P<'0[(&UA&EM871E;'D@)FYB&EM871E;'D@)FYBF5D(&1E9F5R6QE/3-$)V)O"!S;VQI9"`C M,#`P,#`P)SX\+W1D/@T*("`@("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@("`@ M(#QT9"!N;W=R87`],T1N;W=R87`@86QI9VX],T1C96YT97(@8V]L6QE/3-$)V)A8VMG M#L@=&5X="UI;F1E;G0Z+3$U<'@G/C0N-S4P M)2!-961I=6TM5&5R;2`-"B`@($YO=&5S+"!397)I97,F(S$V,#M1+"`-"B`@ M(&1U92!*86YU87)Y)B,Q-C`[,3,L(`T*("`@,C`Q,@T*("`@/"]D:78^/"]T M9#X-"B`@("`@("`\=&0^)B,Q-C`[/"]T9#X-"B`@("`@("`\=&0@86QI9VX] M,T1L969T/B9N8G-P.R0\+W1D/@T*("`@("`@(#QT9"!A;&EG;CTS1')I9VAT M/C4P,"PP,#`\+W1D/@T*("`@("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@("`@ M(#QT9#XF(S$V,#L\+W1D/@T*("`@("`@(#QT9"!A;&EG;CTS1&QE9G0^)FYB M#L@=&5X="UI;F1E;G0Z+3$U<'@G/C4N-#`P)2!-961I=6TM M5&5R;2`-"B`@($YO=&5S+"!397)I97,F(S$V,#M2+"`-"B`@(&1U92!&96)R M=6%R>28C,38P.S$U+"`-"B`@(#(P,3(-"B`@(#PO9&EV/CPO=&0^#0H@("`@ M("`@/'1D/B8C,38P.SPO=&0^#0H@("`@("`@/'1D/B8C,38P.SPO=&0^#0H@ M("`@("`@/'1D(&%L:6=N/3-$6QE/3-$)VUA'0M:6YD M96YT.BTQ-7!X)SXU+C,U,"4@365D:75M+51E"<^-2XS M,#`E($UE9&EU;2U497)M(`T*("`@3F]T97,L(%-E28C,38P.S$L(#(P,3(-"B`@(#PO9&EV/CPO=&0^#0H@("`@ M("`@/'1D/B8C,38P.SPO=&0^#0H@("`@("`@/'1D/B8C,38P.SPO=&0^#0H@ M("`@("`@/'1D(&%L:6=N/3-$6QE/3-$)VUA'0M:6YD M96YT.BTQ-7!X)SXU+C4U,"4@365D:75M+51E"<^-2XP,#`E($UE9&EU;2U497)M(`T*("`@3F]T97,L(%-E6QE/3-$)VUA'0M:6YD96YT.BTQ-7!X)SXU+C(U,"4@365D:75M M+51E28C,38P.S$P+"`-"B`@(#(P,3,-"B`@(#PO9&EV/CPO=&0^#0H@("`@ M("`@/'1D/B8C,38P.SPO=&0^#0H@("`@("`@/'1D/B8C,38P.SPO=&0^#0H@ M("`@("`@/'1D(&%L:6=N/3-$#L@=&5X="UI;F1E;G0Z+3$U<'@G/C8N,S#L@=&5X="UI;F1E;G0Z+3$U<'@G/B8C,38P.PT*("`@/"]D:78^/"]T9#X- M"B`@("`@("`\=&0^)B,Q-C`[/"]T9#X-"B`@("`@("`\=&0@;F]W6QE/3-$)V)O"!S;VQI9"`C,#`P,#`P M)SXF(S$V,#L\+W1D/@T*("`@("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@("`@ M(#QT9#XF(S$V,#L\+W1D/@T*("`@("`@(#QT9"!N;W=R87`],T1N;W=R87`@ M8V]L6QE/3-$)V)A8VMG#L@=&5X="UI;F1E M;G0Z+3$U<'@G/E1O=&%L#0H@("`\+V1I=CX\+W1D/@T*("`@("`@(#QT9#XF M(S$V,#L\+W1D/@T*("`@("`@(#QT9"!A;&EG;CTS1&QE9G0^)FYB"<^)B,Q-C`[#0H@("`\+V1I M=CX\+W1D/@T*("`@("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@("`@("`@("`\ M=&0@;F]W"!S;VQI9"`C,#`P,#`P)SXF(S$V,#L-"B`@ M(#PO9&EV/@T*("`@/"]D:78^#0H@("`\=&%B;&4@=VED=&@],T0Q,#`E(&)O M'0M86QI9VXZ(&QE9G0G/@T*("`@ M/'1R/@T*("`@("`@(#QT9"!W:61T:#TS1#,E/CPO=&0^#0H@("`@("`@/'1D M('=I9'1H/3-$,24^/"]T9#X-"B`@("`@("`\=&0@=VED=&@],T0Y-B4^/"]T M9#X-"B`@(#PO='(^#0H@("`\='(@=F%L:6=N/3-$=&]P/@T*("`@("`@(#QT M9"!N;W=R87`],T1N;W=R87`@86QI9VX],T1L969T/BAA*3PO=&0^#0H@("`@ M("`@/'1D/B8C,38P.SPO=&0^#0H@("`@("`@/'1D/D%S(&]F($IU;F4F(S$V M,#LR+"`R,#$Q+CPO=&0^#0H@("`\+W1R/@T*("`@/'1R('-T>6QE/3-$)V9O M;G0M6QE/3-$)V9O;G0M2!E>'!O&-H M86YG92!R871E6QE/3-$)V9O;G0M2`M+3X-"B`@ M(#QT"<^1F]R96EG;B!C=7)R96YC M>2!A9&IU2`-"B`@ M(&1E;F]M:6YA=&5D(&1E8G0@870@1&5C96UB97(F(S$V,#LS,2P@,C`Q,`T* M("`@/"]D:78^/"]T9#X-"B`@("`@("`\=&0^)B,Q-C`[/"]T9#X-"B`@("`@ M("`\=&0@86QI9VX],T1L969T/B9N8G-P.R0\+W1D/@T*("`@("`@(#QT9"!A M;&EG;CTS1')I9VAT/C$V-2PT,#`\+W1D/@T*("`@("`@(#QT9#XF(S$V,#L\ M+W1D/@T*("`@/"]T"<^1F]R96EG;B!C=7)R96YC>2!P97)I;V0@861J M=7-T;65N="!O9B!N;VXM55,F;F)S<#LD(&1E;F]M:6YA=&5D(&1E8G0-"B`@ M(#PO9&EV/CPO=&0^#0H@("`@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@("`@ M/'1D/B8C,38P.SPO=&0^#0H@("`@("`@/'1D(&%L:6=N/3-$6QE/3-$)V9O;G0M6QE/3-$)VUA'0M:6YD M96YT.BTQ-7!X)SXF(S$V,#L-"B`@(#PO9&EV/CPO=&0^#0H@("`@("`@/'1D M/B8C,38P.SPO=&0^#0H@("`@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!C;VQS M<&%N/3-$,B!A;&EG;CTS1')I9VAT('-T>6QE/3-$)V)O"!S;VQI9"`C,#`P,#`P)SXF(S$V,#L\+W1D/@T*("`@("`@(#QT9#XF(S$V M,#L\+W1D/@T*("`@/"]T"<^1F]R96EG;B!C=7)R96YC>2!A9&IU2`-"B`@(&1E;F]M:6YA=&5D(&1E8G0@870@2G5N M928C,38P.S,P+"`R,#$Q#0H@("`\+V1I=CX\+W1D/@T*("`@("`@(#QT9#XF M(S$V,#L\+W1D/@T*("`@("`@(#QT9"!A;&EG;CTS1&QE9G0^)FYB6QE M/3-$)V9O;G0M6QE/3-$)VUA'0M:6YD96YT.BTQ-7!X)SXF M(S$V,#L-"B`@(#PO9&EV/CPO=&0^#0H@("`@("`@/'1D/B8C,38P.SPO=&0^ M#0H@("`@("`@("`@(#QT9"!N;W=R87`],T1N;W=R87`@8V]L2`M+3X-"B`@(#PO M=&%B;&4^#0H@("`\+V1I=CX-"B`@(#QD:78@86QI9VX],T1L969T('-T>6QE M/3-$)V9O;G0M&-H86YG M92!T:&4@;F]T97,@;V8@96%C:"!S97)I97,@9F]R(&YE=R!R96=I0T*("`@ M:61E;G1I8V%L('1EF4Z M(#$P<'0[(&UA2`P+C(U M)2!P97(@>65A2!T:&4@4T5#(&)Y M('1H870@9&%T92P@87,@&-H86YG M92!O9F9E2!S=6-H(&1A=&4N(%=E#0H@("!C;VUP;&5T960@=&AE(&5X M8VAA;F=E(&]F9F5R(&]N($UA>28C,38P.S4L(#(P,3$L(&%T('=H:6-H('1I M;64@=&AE(&%P<&QI8V%B;&4@:6YT97)EF4Z(#$P<'0[(&UA'!I28C,38P.S,Q+"`R,#$T+B!4:&ES(')E=F]L=FEN9PT*("`@8W)E9&ET(&9A M8VEL:71Y('!R;W9I9&5S(&9O2!A(')A=&EN9W,M8F%S960@<')I M8VEN9R!G&5D(&-H87)G92!C;W9EF4Z(#$P<'0[ M(&UA2!D871E M(&9O2X@5&AE(&EN=&5R97-T(&]N('1H M92!L;V%N3H@)U1I;65S($YE=R!2;VUA M;BF4Z(#$P<'0[(&UA6QE/3-$)V9O;G0M65A M2!T2X-"B`@(%1H92!I;G1E&5R8VES92!T:&4@8V%L;"!O<'1I M;VXL('1H92!I;G1E2P@8F%S960@;VX@=&AE(&EN M:71I86P@8W)E9&ET('-P65A2!T3L@86YD M(#QI/BAI:6DI(#PO:3XS,"UY96%R(&-O;G-T86YT(&UA='5R:71Y('1R96%S M=7)Y+B!)9B!W90T*("`@8VAO;W-E('1O(')E9&5E;2!T:&4@)FYB2!A8V-R=65D(&%N9"!U;G!A:60@:6YT97)E2!A('!O'0O:F%V87-C M3X-"B`@("`\=&%B;&4@ M8VQA6QE/3-$)V9O;G0M9F%M:6QY.B`G5&EM97,@3F5W(%)O;6%N)RQ4:6UEF4Z(#$P<'0[(&UAF4Z(#$P<'0[(&UA6EN9R!D97)I=F%T:79E+@T* M("`@/"]D:78^#0H@("`\9&EV(&%L:6=N/3-$;&5F="!S='EL93TS1"=F;VYT M+7-I>F4Z(#$P<'0[(&UA2!F;W(@=&AE:7(-"B`@(')E2!O9B!O=7(@97AI6QE/3-$)V9O;G0M9F%M:6QY.B`G5&EM97,@3F5W M(%)O;6%N)RQ4:6UE6QE/3-$)V9O;G0MF4Z(#$P<'0[(&UA6QE/3-$)V)O"!S;VQI9"`C,#`P,#`P)SY,:6%B:6QI='D@1&5R:79A=&EV M97,\+W1D/@T*("`@("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@/"]T6QE/3-$)V)O"!S;VQI9"`C,#`P,#`P)SY& M86ER(%9A;'5E/"]T9#X-"B`@("`@("`\=&0^)B,Q-C`[/"]T9#X-"B`@("`@ M("`\=&0^)B,Q-C`[/"]T9#X-"B`@("`@("`\=&0@;F]W6QE/3-$)V)O"!S;VQI9"`C,#`P,#`P)SY.;W1I;VYA;"!686QU93PO=&0^ M#0H@("`@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@("`@/'1D/B8C,38P.SPO M=&0^#0H@("`@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!A;&EG;CTS1&-E;G1E M6QE/3-$)V9O;G0M6QE/3-$)V)O"!S;VQI9"`C,#`P,#`P)SY54T0\+W1D/@T*("`@("`@(#QT9#XF(S$V M,#L\+W1D/@T*("`@/"]TF4Z M(#AP="<@=F%L:6=N/3-$8F]T=&]M/@T*("`@("`@(#QT9#XF(S$V,#L\+W1D M/@T*("`@("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@("`@(#QT9#XF(S$V,#L\ M+W1D/@T*("`@("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@("`@(#QT9#XF(S$V M,#L\+W1D/@T*("`@("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@("`@(#QT9"!N M;W=R87`],T1N;W=R87`@86QI9VX],T1C96YT97(@8V]L6QE/3-$)V)A8VMG#L@=&5X="UI M;F1E;G0Z+3$U<'@G/DIU;F4F(S$V,#LS,"P@,C`Q,3H-"B`@(#PO9&EV/CPO M=&0^#0H@("`@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@("`@/'1D/B8C,38P M.SPO=&0^#0H@("`@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@("`@/'1D/B8C M,38P.SPO=&0^#0H@("`@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@("`@/'1D M/B8C,38P.SPO=&0^#0H@("`@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@("`@ M/'1D/B8C,38P.SPO=&0^#0H@("`@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@ M("`@/'1D/B8C,38P.SPO=&0^#0H@("`@("`@/'1D/B8C,38P.SPO=&0^#0H@ M("`@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@("`@/'1D/B8C,38P.SPO=&0^ M#0H@("`@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@("`@/'1D/B8C,38P.SPO M=&0^#0H@("`@("`@/'1D/B8C,38P.SPO=&0^#0H@("`\+W1R/@T*("`@/'1R M('9A;&EG;CTS1&)O='1O;3X-"B`@("`@("`\=&0^#0H@("`\9&EV('-T>6QE M/3-$)VUA'0M:6YD96YT.BTQ-7!X)SY$97)I M=F%T:79E6QE M/3-$)VUA'0M:6YD96YT.BTQ-7!X)SY);G1E M#L@=&5X="UI;F1E;G0Z M+3$U<'@G/D9O#L@=&5X="UI;F1E;G0Z+3$U<'@G/B8C M,38P.PT*("`@/"]D:78^/"]T9#X-"B`@("`@("`\=&0^)B,Q-C`[/"]T9#X- M"B`@("`@("`\=&0^)B,Q-C`[/"]T9#X-"B`@("`@("`\=&0^)B,Q-C`[/"]T M9#X-"B`@("`@("`\=&0^)B,Q-C`[/"]T9#X-"B`@("`@("`\=&0^)B,Q-C`[ M/"]T9#X-"B`@("`@("`\=&0@;F]W6QE M/3-$)V)O"!S;VQI9"`C,#`P,#`P)SXF(S$V,#L\+W1D M/@T*("`@("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@/"]T"<^5&]T86P@9&5R:79A=&EV97,@9&5S M:6=N871E9"!A6QE M/3-$)V)A8VMG#L@=&5X="UI;F1E;G0Z+3$U M<'@G/DEN=&5R97-T(')A=&4@8V%P(&%G6QE/3-$)V9O;G0M6QE/3-$)VUA'0M:6YD96YT.BTQ-7!X)SXF(S$V,#L-"B`@(#PO9&EV/CPO M=&0^#0H@("`@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@("`@/'1D/B8C,38P M.SPO=&0^#0H@("`@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@("`@/'1D/B8C M,38P.SPO=&0^#0H@("`@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@("`@/'1D M(&YO=W)A<#TS1&YO=W)A<"!C;VQS<&%N/3-$,B!A;&EG;CTS1')I9VAT('-T M>6QE/3-$)V)O"!S;VQI9"`C,#`P,#`P)SXF(S$V,#L\ M+W1D/@T*("`@("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@("`@(#QT9#XF(S$V M,#L\+W1D/@T*("`@("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@("`@(#QT9#XF M(S$V,#L\+W1D/@T*("`@("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@("`@(#QT M9#XF(S$V,#L\+W1D/@T*("`@("`@(#QT9"!N;W=R87`],T1N;W=R87`@8V]L M#L@=&5X="UI;F1E;G0Z+3$U<'@G/E1O=&%L(&1E#L@=&5X="UI M;F1E;G0Z+3$U<'@G/B8C,38P.PT*("`@/"]D:78^/"]T9#X-"B`@("`@("`\ M=&0^)B,Q-C`[/"]T9#X-"B`@("`@("`\=&0^)B,Q-C`[/"]T9#X-"B`@("`@ M("`\=&0^)B,Q-C`[/"]T9#X-"B`@("`@("`\=&0^)B,Q-C`[/"]T9#X-"B`@ M("`@("`\=&0^)B,Q-C`[/"]T9#X-"B`@("`@("`\=&0@;F]W6QE/3-$)V)A8VMG#L@=&5X="UI;F1E;G0Z+3$U<'@G/D1E8V5M8F5R)B,Q-C`[ M,S$L(#(P,3`Z#0H@("`\+V1I=CX\+W1D/@T*("`@("`@(#QT9#XF(S$V,#L\ M+W1D/@T*("`@("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@("`@(#QT9#XF(S$V M,#L\+W1D/@T*("`@("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@("`@(#QT9#XF M(S$V,#L\+W1D/@T*("`@("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@("`@(#QT M9#XF(S$V,#L\+W1D/@T*("`@("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@("`@ M(#QT9#XF(S$V,#L\+W1D/@T*("`@("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@ M("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@("`@(#QT9#XF(S$V,#L\+W1D/@T* M("`@("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@("`@(#QT9#XF(S$V,#L\+W1D M/@T*("`@("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@("`@(#QT9#XF(S$V,#L\ M+W1D/@T*("`@/"]T"<^1&5R:79A=&EV97,@9&5S:6=N871E9"!A"<^26YT97)E6QE/3-$)VUA'0M:6YD96YT.BTQ-7!X)SY&;W)E:6=N(&5X8VAA;F=E M('-W87`@86=R965M96YT6QE/3-$)V9O;G0M6QE/3-$)VUA'0M:6YD96YT.BTQ-7!X)SXF(S$V,#L-"B`@(#PO9&EV/CPO=&0^#0H@ M("`@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@("`@/'1D/B8C,38P.SPO=&0^ M#0H@("`@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@("`@/'1D/B8C,38P.SPO M=&0^#0H@("`@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@("`@/'1D(&YO=W)A M<#TS1&YO=W)A<"!C;VQS<&%N/3-$,B!A;&EG;CTS1')I9VAT('-T>6QE/3-$ M)V)O"!S;VQI9"`C,#`P,#`P)SXF(S$V,#L\+W1D/@T* M("`@("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@("`@(#QT9#XF(S$V,#L\+W1D M/@T*("`@("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@("`@(#QT9#XF(S$V,#L\ M+W1D/@T*("`@("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@("`@(#QT9#XF(S$V M,#L\+W1D/@T*("`@("`@(#QT9"!N;W=R87`],T1N;W=R87`@8V]L6QE/3-$ M)V)A8VMG#L@=&5X="UI;F1E;G0Z+3$U<'@G M/E1O=&%L(&1E#L@=&5X="UI;F1E;G0Z+3$U<'@G/D1E6QE/3-$)VUA'0M:6YD96YT.BTQ-7!X)SY);G1E6QE/3-$)V9O;G0M6QE/3-$)VUA'0M:6YD96YT.BTQ M-7!X)SXF(S$V,#L-"B`@(#PO9&EV/CPO=&0^#0H@("`@("`@/'1D/B8C,38P M.SPO=&0^#0H@("`@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@("`@/'1D/B8C M,38P.SPO=&0^#0H@("`@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@("`@/'1D M/B8C,38P.SPO=&0^#0H@("`@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!C;VQS M<&%N/3-$,B!A;&EG;CTS1')I9VAT('-T>6QE/3-$)V)O"!S;VQI9"`C,#`P,#`P)SXF(S$V,#L\+W1D/@T*("`@("`@(#QT9#XF(S$V M,#L\+W1D/@T*("`@("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@("`@(#QT9#XF M(S$V,#L\+W1D/@T*("`@("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@("`@(#QT M9#XF(S$V,#L\+W1D/@T*("`@("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@("`@ M(#QT9"!N;W=R87`],T1N;W=R87`@8V]L#L@=&5X="UI;F1E;G0Z+3$U<'@G/B8C,38P.PT* M("`@/"]D:78^/"]T9#X-"B`@("`@("`\=&0^)B,Q-C`[/"]T9#X-"B`@("`@ M("`\=&0^)B,Q-C`[/"]T9#X-"B`@("`@("`\=&0^)B,Q-C`[/"]T9#X-"B`@ M("`@("`\=&0^)B,Q-C`[/"]T9#X-"B`@("`@("`\=&0^)B,Q-C`[/"]T9#X- M"B`@("`@("`@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!C;VQS<&%N/3-$,B!A M;&EG;CTS1')I9VAT('-T>6QE/3-$)V)O"!D;W5B;&4@ M(S`P,#`P,"<^)B,Q-C`[/"]T9#X-"B`@("`@("`\=&0^)B,Q-C`[/"]T9#X- M"B`@("`@("`\=&0^)B,Q-C`[/"]T9#X-"B`@("`@("`\=&0^)B,Q-C`[/"]T M9#X-"B`@("`@("`\=&0^)B,Q-C`[/"]T9#X-"B`@("`@("`\=&0^)B,Q-C`[ M/"]T9#X-"B`@("`@("`\=&0^)B,Q-C`[/"]T9#X-"B`@("`@("`\=&0@;F]W M"!S;VQI9"`C,#`P,#`P)SXF(S$V,#L-"B`@(#PO9&EV/@T* M("`@/"]D:78^#0H@("`\=&%B;&4@=VED=&@],T0Q,#`E(&)O'0M86QI9VXZ(&QE9G0G/@T*("`@/'1R/@T*("`@ M("`@(#QT9"!W:61T:#TS1#,E/CPO=&0^#0H@("`@("`@/'1D('=I9'1H/3-$ M,24^/"]T9#X-"B`@("`@("`\=&0@=VED=&@],T0Y-B4^/"]T9#X-"B`@(#PO M='(^#0H@("`\='(@=F%L:6=N/3-$=&]P/@T*("`@("`@(#QT9"!N;W=R87`] M,T1N;W=R87`@86QI9VX],T1L969T/BAA*3PO=&0^#0H@("`@("`@/'1D/B8C M,38P.SPO=&0^#0H@("`@("`@/'1D/D-O;G9E&5D(')A=&4@9&5B="X\+W1D/@T*("`@ M/"]T3H@)U1I;65S($YE=R!2 M;VUA;BF4Z(#AP M="<@=F%L:6=N/3-$8F]T=&]M/@T*("`@("`@(#QT9#XF(S$V,#L\+W1D/@T* M("`@("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@("`@(#QT9"!N;W=R87`],T1N M;W=R87`@86QI9VX],T1C96YT97(@8V]L"!-;VYT:',@16YD960\+W1D M/@T*("`@("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@/"]T6QE/3-$)V)O M"!S;VQI9"`C,#`P,#`P)SY*=6YE(#,P+#PO=&0^ M#0H@("`@("`@/'1D/B8C,38P.SPO=&0^#0H@("`\+W1R/@T*("`@/'1R('-T M>6QE/3-$)V9O;G0M6QE/3-$)V)O"!S;VQI9"`C,#`P M,#`P)SXF(S$V,#L\+W1D/@T*("`@("`@(#QT9"!N;W=R87`],T1N;W=R87`@ M86QI9VX],T1C96YT97(@8V]L6QE/3-$)V)O"!S;VQI9"`C,#`P,#`P)SXR M,#$Q/"]T9#X-"B`@("`@("`\=&0@('-T>6QE/3-$)V)O"!S;VQI9"`C,#`P,#`P)SXF(S$V,#L\+W1D/@T*("`@("`@(#QT9"`@ M6QE/3-$)V9O;G0M6QE/3-$)VUA'0M:6YD96YT.BTQ-7!X)SY%9F9E8W1I=F4@<&]R=&EO;B!O9B!C:&%N M9V4@:6X@9F%I6QE/3-$)VUA'0M:6YD96YT.BTQ M-7!X)SY&;W)E:6=N(&5X8VAA;F=E(&-O;7!O;F5N="!O9B!C2`-"B`@('-W87!S("AC6QE M/3-$)V)A8VMG#L@=&5X="UI;F1E;G0Z+3$U M<'@G/D%M;W)T:7IA=&EO;B!O9B!B86QA;F-E"<^26YC;VUE('1A>"!E9F9E8W0-"B`@(#PO9&EV/CPO=&0^#0H@("`@("`@ M/'1D/B8C,38P.SPO=&0^#0H@("`@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!A M;&EG;CTS1&QE9G0^)B,Q-C`[/"]T9#X-"B`@("`@("`\=&0@86QI9VX],T1R M:6=H=#XH-"PX,#4\+W1D/@T*("`@("`@(#QT9"!N;W=R87`],T1N;W=R87`^ M*3PO=&0^#0H@("`@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@("`@/'1D(&YO M=W)A<#TS1&YO=W)A<"!A;&EG;CTS1&QE9G0^)B,Q-C`[/"]T9#X-"B`@("`@ M("`\=&0@86QI9VX],T1R:6=H=#XH,3,L-#@U/"]T9#X-"B`@("`@("`\=&0@ M;F]W6QE/3-$)V9O;G0M6QE/3-$)VUA'0M:6YD96YT.BTQ-7!X)SXF(S$V,#L-"B`@(#PO M9&EV/CPO=&0^#0H@("`@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@("`@/'1D M(&YO=W)A<#TS1&YO=W)A<"!C;VQS<&%N/3-$,B!A;&EG;CTS1')I9VAT('-T M>6QE/3-$)V)O"!S;VQI9"`C,#`P,#`P)SXF(S$V,#L\ M+W1D/@T*("`@("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@("`@(#QT9#XF(S$V M,#L\+W1D/@T*("`@("`@(#QT9"!N;W=R87`],T1N;W=R87`@8V]L6QE/3-$)V)O"!S;VQI9"`C,#`P M,#`P)SXF(S$V,#L\+W1D/@T*("`@("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@ M/"]T"<^3F5T(&-H M86YG97,@:6X@8V%S:"!F;&]W(&AE9&=E&5S#0H@("`\ M+V1I=CX\+W1D/@T*("`@("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@("`@(#QT M9"!A;&EG;CTS1&QE9G0^)FYB"<^)B,Q-C`[#0H@("`\ M+V1I=CX\+W1D/@T*("`@("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@("`@("`@ M("`\=&0@;F]W"!S;VQI9"`C,#`P,#`P)SXF(S$V,#L-"B`@(#PO9&EV/@T*("`@/"]D:78^ M#0H@("`\=&%B;&4@=VED=&@],T0Q,#`E(&)O'0M86QI9VXZ(&QE9G0G/@T*("`@/'1R/@T*("`@("`@(#QT9"!W M:61T:#TS1#,E/CPO=&0^#0H@("`@("`@/'1D('=I9'1H/3-$,24^/"]T9#X- M"B`@("`@("`\=&0@=VED=&@],T0Y-B4^/"]T9#X-"B`@(#PO='(^#0H@("`\ M='(@=F%L:6=N/3-$=&]P/@T*("`@("`@(#QT9"!N;W=R87`],T1N;W=R87`@ M86QI9VX],T1L969T/BAA*3PO=&0^#0H@("`@("`@/'1D/B8C,38P.SPO=&0^ M#0H@("`@("`@/'1D/DEN8VQU9&5S("9N8G-P.R0H,C4U*2!A;F0@)FYB"!M;VYT:"!P97)I;V1S#0H@("!E;F1E9"!*=6YE)B,Q-C`[,S`L M(#(P,3$L(')E2P@86YD("9N8G-P.R0R-2PR,#@@86YD("9N M8G-P.R0H-C(L-C(P*2!O9B!C;VUB:6YE9"!#5D$@86YD($U602!F;W(-"B`@ M('1H92!T:')E92!A;F0@`T*("`@;6]N M=&AS(&5N9&5D($IU;F4F(S$V,#LS,"P@,C`Q,"P@=&AA="!W87,@9&4M9&5S M:6=N871E9"!AF4Z(#$P<'0[(&UA M6QE/3-$)V)O M"!S;VQI9"`C,#`P,#`P)SXH169F96-T:79E(%!O M6QE M/3-$)V)O"!S;VQI9"`C,#`P,#`P)SY*=6YE(#,P M+#PO=&0^#0H@("`@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@("`@/'1D/B8C M,38P.SPO=&0^#0H@("`@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!A;&EG;CTS M1&-E;G1E6QE/3-$)V)O"!S;VQI9"`C,#`P,#`P)SX\+W1D/@T*("`@("`@(#QT9#XF(S$V,#L\ M+W1D/@T*("`@("`@(#QT9"!N;W=R87`],T1N;W=R87`@86QI9VX],T1C96YT M97(@8V]L6QE/3-$)V)O M"!S;VQI9"`C,#`P,#`P)SXR,#$P/"]T9#X-"B`@ M("`@("`\=&0@('-T>6QE/3-$)V)O"!S;VQI9"`C M,#`P,#`P)SXF(S$V,#L\+W1D/@T*("`@("`@(#QT9"!S='EL93TS1"=B;W)D M97(M8F]T=&]M.B`Q<'@@6QE/3-$)V)O"!S;VQI9"`C,#`P M,#`P)SXR,#$Q/"]T9#X-"B`@("`@("`\=&0@('-T>6QE/3-$)V)O"!S;VQI9"`C,#`P,#`P)SXF(S$V,#L\+W1D/@T*("`@("`@ M(#QT9"`@6QE/3-$)V9O;G0M M2`M+3X-"B`@ M(#QT"<^26YT97)E6QE/3-$)VUA M'0M:6YD96YT.BTQ-7!X)SY&;W)E:6=N(&5X M8VAA;F=E('-W87`@86=R965M96YT#L@=&5X="UI;F1E;G0Z+3$U<'@G M/B8C,38P.PT*("`@/"]D:78^/"]T9#X-"B`@("`@("`\=&0^)B,Q-C`[/"]T M9#X-"B`@("`@("`\=&0@;F]W6QE/3-$)V)O"!S;VQI9"`C,#`P,#`P)SXF(S$V,#L\+W1D/@T*("`@("`@ M(#QT9#XF(S$V,#L\+W1D/@T*("`@("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@ M("`@(#QT9"!N;W=R87`],T1N;W=R87`@8V]L6QE/3-$)VUA'0M:6YD96YT M.BTQ-7!X)SY4;W1A;"`H82D-"B`@(#PO9&EV/CPO=&0^#0H@("`@("`@/'1D M/B8C,38P.SPO=&0^#0H@("`@("`@/'1D(&%L:6=N/3-$;&5F=#XF;F)S<#LD M/"]T9#X-"B`@("`@("`\=&0@86QI9VX],T1R:6=H=#XR."PV.#4\+W1D/@T* M("`@("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@("`@(#QT9#XF(S$V,#L\+W1D M/@T*("`@("`@(#QT9"!N;W=R87`],T1N;W=R87`@86QI9VX],T1L969T/B9N M8G-P.R0\+W1D/@T*("`@("`@(#QT9"!A;&EG;CTS1')I9VAT/B@Q.3,L,36QE/3-$)V9O;G0M6QE/3-$)VUA'0M:6YD96YT.BTQ-7!X)SXF(S$V,#L-"B`@(#PO9&EV/CPO M=&0^#0H@("`@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@("`@("`@(#QT9"!N M;W=R87`],T1N;W=R87`@8V]L2`M M+3X-"B`@(#PO=&%B;&4^#0H@("`\+V1I=CX-"B`@(#QD:78@86QI9VX],T1L M969T/@T*("`@/&1I=B!S='EL93TS1"=F;VYT+7-I>F4Z(#-P=#L@;6%R9VEN M+71O<#H@,39P=#L@=VED=&@Z(#$X)3L@8F]R9&5R+71O<#H@,7!X('-O;&ED M(",P,#`P,#`G/B8C,38P.PT*("`@/"]D:78^#0H@("`\+V1I=CX-"B`@(#QT M86)L92!W:61T:#TS1#$P,"4@8F]R9&5R/3-$,"!C96QL<&%D9&EN9STS1#`@ M8V5L;'-P86-I;F<],T0P('-T>6QE/3-$)V9O;G0M2X\+W1D/@T*("`@/"]T3H@)U1I;65S($YE=R!2;VUA;BF4Z(#$P<'0[(&UA6UE;G1S#0H@("!W97)E(&UA M9&4@;W(@'0M86QI9VXZ M(&QE9G0G(&-E;&QS<&%C:6YG/3-$,"!B;W)D97(],T0P(&-E;&QP861D:6YG M/3-$,"!W:61T:#TS1#$P,"4^#0H@("`\(2TM($)E9VEN(%1A8FQE($AE860@ M+2T^#0H@("`\='(@=F%L:6=N/3-$8F]T=&]M/@T*("`@("`@(#QT9"!W:61T M:#TS1#4R)3XF(S$V,#L\+W1D/@T*("`@("`@(#QT9"!W:61T:#TS1#4E/B8C M,38P.SPO=&0^#0H@("`@("`@/'1D('=I9'1H/3-$,24^)B,Q-C`[/"]T9#X- M"B`@("`@("`\=&0@=VED=&@],T0U)3XF(S$V,#L\+W1D/@T*("`@("`@(#QT M9"!W:61T:#TS1#$E/B8C,38P.SPO=&0^#0H@("`@("`@/'1D('=I9'1H/3-$ M-24^)B,Q-C`[/"]T9#X-"B`@("`@("`\=&0@=VED=&@],T0Q)3XF(S$V,#L\ M+W1D/@T*("`@("`@(#QT9"!W:61T:#TS1#4E/B8C,38P.SPO=&0^#0H@("`@ M("`@/'1D('=I9'1H/3-$,24^)B,Q-C`[/"]T9#X-"B`@("`@("`\=&0@=VED M=&@],T0U)3XF(S$V,#L\+W1D/@T*("`@("`@(#QT9"!W:61T:#TS1#$E/B8C M,38P.SPO=&0^#0H@("`@("`@/'1D('=I9'1H/3-$-24^)B,Q-C`[/"]T9#X- M"B`@("`@("`\=&0@=VED=&@],T0Q)3XF(S$V,#L\+W1D/@T*("`@("`@(#QT M9"!W:61T:#TS1#4E/B8C,38P.SPO=&0^#0H@("`@("`@/'1D('=I9'1H/3-$ M,24^)B,Q-C`[/"]T9#X-"B`@("`@("`\=&0@=VED=&@],T0U)3XF(S$V,#L\ M+W1D/@T*("`@("`@(#QT9"!W:61T:#TS1#$E/B8C,38P.SPO=&0^#0H@("`\ M+W1R/@T*("`@/'1R('-T>6QE/3-$)V9O;G0M6QE M/3-$)V9O;G0M6QE/3-$)V9O;G0M6QE/3-$)V)O"!S;VQI M9"`C,#`P,#`P)SXF(S$V,#L\+W1D/@T*("`@("`@(#QT9"!N;W=R87`],T1N M;W=R87`@86QI9VX],T1C96YT97(@8V]L6QE/3-$)V)O"!S;VQI9"`C,#`P M,#`P)SXR,#$Q/"]T9#X-"B`@("`@("`\=&0@('-T>6QE/3-$)V)O"!S;VQI9"`C,#`P,#`P)SXF(S$V,#L\+W1D/@T*("`@("`@ M(#QT9"`@6QE/3-$)V9O;G0M M6QE/3-$)VUA'0M:6YD96YT.BTQ-7!X)SY);G1E6QE M/3-$)VUA'0M:6YD96YT.BTQ-7!X)SY&;W)E M:6=N(&5X8VAA;F=E('-W87`@86=R965M96YT6QE M/3-$)VUA'0M:6YD96YT.BTQ-7!X)SY&;W)E M:6=N(&5X8VAA;F=E('-W87`@86=R965M96YT"<^)B,Q-C`[#0H@("`\+V1I M=CX\+W1D/@T*("`@("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@("`@(#QT9"!N M;W=R87`],T1N;W=R87`@8V]L6QE/3-$)V)O M"!S;VQI9"`C,#`P,#`P)SXF(S$V,#L\+W1D/@T*("`@ M("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@("`@(#QT9#XF(S$V,#L\+W1D/@T* M("`@("`@(#QT9"!N;W=R87`],T1N;W=R87`@8V]L#L@=&5X="UI;F1E;G0Z M+3$U<'@G/E1O=&%L#0H@("`\+V1I=CX\+W1D/@T*("`@("`@(#QT9#XF(S$V M,#L\+W1D/@T*("`@("`@(#QT9"!N;W=R87`],T1N;W=R87`@86QI9VX],T1L M969T/B9N8G-P.R0\+W1D/@T*("`@("`@(#QT9"!A;&EG;CTS1')I9VAT/B@Q M-BPR-S`\+W1D/@T*("`@("`@(#QT9"!N;W=R87`],T1N;W=R87`^*3PO=&0^ M#0H@("`@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@("`@/'1D(&YO=W)A<#TS M1&YO=W)A<"!A;&EG;CTS1&QE9G0^)FYB6QE/3-$)V9O;G0M6QE/3-$)VUA'0M:6YD96YT.BTQ-7!X)SXF(S$V,#L-"B`@(#PO9&EV M/CPO=&0^#0H@("`@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@("`@("`@(#QT M9"!N;W=R87`],T1N;W=R87`@8V]L2`M+3X-"B`@(#PO=&%B;&4^#0H@("`\+V1I=CX-"B`@(#QD:78@86QI9VX] M,T1L969T('-T>6QE/3-$)V9O;G0MF4@:6YT;R!E87)N:6YG2`F;F)S<#LD-S,N,R8C,38P.VUI;&QI;VX@;V8@=&AE M('!R92UT87@@8F%L86YC92!I;B!!3T-)('5N9&5R(&-A6QE/3-$)V9O;G0M"!M;VYT:',@96YD960@2G5N928C,38P.S,P+"`R,#$Q(&%N9`T* M("`@,C`Q,#H-"B`@(#PO9&EV/@T*("`@/&1I=B!A;&EG;CTS1&-E;G1E'0M86QI M9VXZ(&QE9G0G(&-E;&QS<&%C:6YG/3-$,"!B;W)D97(],T0P(&-E;&QP861D M:6YG/3-$,"!W:61T:#TS1#$P,"4^#0H@("`\(2TM($)E9VEN(%1A8FQE($AE M860@+2T^#0H@("`\='(@=F%L:6=N/3-$8F]T=&]M/@T*("`@("`@(#QT9"!W M:61T:#TS1#4R)3XF(S$V,#L\+W1D/@T*("`@("`@(#QT9"!W:61T:#TS1#4E M/B8C,38P.SPO=&0^#0H@("`@("`@/'1D('=I9'1H/3-$,24^)B,Q-C`[/"]T M9#X-"B`@("`@("`\=&0@=VED=&@],T0U)3XF(S$V,#L\+W1D/@T*("`@("`@ M(#QT9"!W:61T:#TS1#$E/B8C,38P.SPO=&0^#0H@("`@("`@/'1D('=I9'1H M/3-$-24^)B,Q-C`[/"]T9#X-"B`@("`@("`\=&0@=VED=&@],T0Q)3XF(S$V M,#L\+W1D/@T*("`@("`@(#QT9"!W:61T:#TS1#4E/B8C,38P.SPO=&0^#0H@ M("`@("`@/'1D('=I9'1H/3-$,24^)B,Q-C`[/"]T9#X-"B`@("`@("`\=&0@ M=VED=&@],T0U)3XF(S$V,#L\+W1D/@T*("`@("`@(#QT9"!W:61T:#TS1#$E M/B8C,38P.SPO=&0^#0H@("`@("`@/'1D('=I9'1H/3-$-24^)B,Q-C`[/"]T M9#X-"B`@("`@("`\=&0@=VED=&@],T0Q)3XF(S$V,#L\+W1D/@T*("`@("`@ M(#QT9"!W:61T:#TS1#4E/B8C,38P.SPO=&0^#0H@("`@("`@/'1D('=I9'1H M/3-$,24^)B,Q-C`[/"]T9#X-"B`@("`@("`\=&0@=VED=&@],T0U)3XF(S$V M,#L\+W1D/@T*("`@("`@(#QT9"!W:61T:#TS1#$E/B8C,38P.SPO=&0^#0H@ M("`\+W1R/@T*("`@/'1R('-T>6QE/3-$)V9O;G0M6QE/3-$)V9O;G0M"!-;VYT:',@16YD960\+W1D/@T*("`@("`@(#QT9#XF(S$V M,#L\+W1D/@T*("`@/"]TF4Z M(#AP="<@=F%L:6=N/3-$8F]T=&]M/@T*("`@("`@(#QT9#XF(S$V,#L\+W1D M/@T*("`@("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@("`@(#QT9"!N;W=R87`] M,T1N;W=R87`@86QI9VX],T1C96YT97(@8V]L6QE/3-$)V)O"!S M;VQI9"`C,#`P,#`P)SY*=6YE(#,P+#PO=&0^#0H@("`@("`@/'1D/B8C,38P M.SPO=&0^#0H@("`\+W1R/@T*("`@/'1R('-T>6QE/3-$)V9O;G0M6QE/3-$)V)O M"!S;VQI9"`C,#`P,#`P)SXF(S$V,#L\+W1D/@T* M("`@("`@(#QT9"!N;W=R87`],T1N;W=R87`@86QI9VX],T1C96YT97(@8V]L M6QE/3-$)V)O"!S;VQI9"`C,#`P,#`P)SXR,#$Q/"]T9#X-"B`@("`@("`\ M=&0@('-T>6QE/3-$)V)O"!S;VQI9"`C,#`P,#`P M)SXF(S$V,#L\+W1D/@T*("`@("`@(#QT9"`@6QE/3-$)V9O;G0M6QE/3-$)VUA'0M:6YD96YT.BTQ-7!X M)SY$97)I=F%T:79E"<^26YT97)E"<^1F]R96EG;B!E>&-H86YG92!S=V%P(&%G6QE/3-$)V9O;G0M6QE/3-$)VUA'0M M:6YD96YT.BTQ-7!X)SXF(S$V,#L-"B`@(#PO9&EV/CPO=&0^#0H@("`@("`@ M/'1D/B8C,38P.SPO=&0^#0H@("`@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!C M;VQS<&%N/3-$,B!A;&EG;CTS1')I9VAT('-T>6QE/3-$)V)O"!S;VQI9"`C,#`P,#`P)SXF(S$V,#L\+W1D/@T*("`@("`@(#QT9#XF M(S$V,#L\+W1D/@T*("`@("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@("`@(#QT M9"!N;W=R87`],T1N;W=R87`@8V]L6QE/3-$ M)V)O"!S;VQI9"`C,#`P,#`P)SXF(S$V,#L\+W1D/@T* M("`@("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@/"]T"<^5&]T86P-"B`@ M(#PO9&EV/CPO=&0^#0H@("`@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@("`@ M/'1D(&YO=W)A<#TS1&YO=W)A<"!A;&EG;CTS1&QE9G0^)B,Q-C`[/"]T9#X- M"B`@("`@("`\=&0@86QI9VX],T1R:6=H=#XH,S0Y/"]T9#X-"B`@("`@("`\ M=&0@;F]W"<^)B,Q-C`[#0H@("`\+V1I=CX\+W1D/@T*("`@("`@(#QT9#XF(S$V M,#L\+W1D/@T*("`@("`@(#QT9"!N;W=R87`],T1N;W=R87`@8V]L6QE/3-$)V)O"!S;VQI9"`C,#`P M,#`P)SXF(S$V,#L\+W1D/@T*("`@("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@ M("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@("`@(#QT9"!N;W=R87`],T1N;W=R M87`@8V]L6QE/3-$)V)A8VMG#L@=&5X="UI M;F1E;G0Z+3$U<'@G/D1E"<^26YT97)E"<^)B,Q-C`[#0H@("`\+V1I=CX\+W1D/@T*("`@("`@(#QT9#XF M(S$V,#L\+W1D/@T*("`@("`@(#QT9"!N;W=R87`],T1N;W=R87`@8V]L6QE/3-$)V)O"!S M;VQI9"`C,#`P,#`P)SXF(S$V,#L\+W1D/@T*("`@("`@(#QT9#XF(S$V,#L\ M+W1D/@T*("`@/"]T"<^4F5C;VYC:6QI871I;VX@=&\@0V]N9&5N6QE/3-$)VUA M'0M:6YD96YT.BTQ-7!X)SY);F-O;64@969F M96-T(&]F(&UA='5R:6YG(&1E6QE/3-$)V)A8VMG M#L@=&5X="UI;F1E;G0Z+3$U<'@G/E)E8VQA M"<^)B,Q-C`[#0H@("`\+V1I M=CX\+W1D/@T*("`@("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@("`@(#QT9"!N M;W=R87`],T1N;W=R87`@8V]L6QE/3-$)V)O M"!S;VQI9"`C,#`P,#`P)SXF(S$V,#L\+W1D/@T*("`@ M("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@("`@(#QT9#XF(S$V,#L\+W1D/@T* M("`@("`@(#QT9"!N;W=R87`],T1N;W=R87`@8V]L#L@=&5X="UI;F1E;G0Z M+3$U<'@G/D5F9F5C="!F"<^)B,Q-C`[#0H@ M("`\+V1I=CX\+W1D/@T*("`@("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@("`@ M("`@("`\=&0@;F]W"!S;VQI9"`C,#`P,#`P)SXF(S$V,#L-"B`@(#PO9&EV/@T*("`@/"]D M:78^#0H@("`\=&%B;&4@=VED=&@],T0Q,#`E(&)O'0M86QI9VXZ(&QE9G0G/@T*("`@/'1R/@T*("`@("`@(#QT M9"!W:61T:#TS1#,E/CPO=&0^#0H@("`@("`@/'1D('=I9'1H/3-$,24^/"]T M9#X-"B`@("`@("`\=&0@=VED=&@],T0Y-B4^/"]T9#X-"B`@(#PO='(^#0H@ M("`\='(@=F%L:6=N/3-$=&]P/@T*("`@("`@(#QT9"!N;W=R87`],T1N;W=R M87`@86QI9VX],T1L969T/BAA*3PO=&0^#0H@("`@("`@/'1D/B8C,38P.SPO M=&0^#0H@("`@("`@/'1D/D%L;"!C;VUP;VYE;G1S(&]F(&5A8V@@9&5R:79A M=&EV928C.#(Q-SMS(&=A:6X@;W(@;&]S6QE/3-$)V9O;G0M2!W87,@'!E;G-E(&1U`T*("`@;6]N=&AS(&5N9&5D($IU;F4F(S$V,#LS M,"P@,C`Q,2!A;F0@,C`Q,"P@6QE/3-$)V9O;G0M9F%M:6QY.B`G5&EM97,@3F5W(%)O;6%N M)RQ4:6UE6QE M/3-$)V9O;G0M7!E.B!T97AT+VAT M;6P[(&-H87)S970](G5S+6%S8VEI(@T*#0H\:'1M;#X-"B`@/&AE860^#0H@ M("`@/$U%5$$@:'1T<"UE<75I=CTS1$-O;G1E;G0M5'EP92!C;VYT96YT/3-$ M)W1E>'0O:'1M;#L@8VAA6QE/3-$)V9O;G0M6QE/3-$)V9O;G0MF4Z M(#$P<'0[(&UA2!C;W)R96QA=&5S('=I=&@@=&AE(&QE=F5L(&]F('!R:6-I;F<@;V)S97)V M86)I;&ET>2X@07-S971S(&%N9"!L:6%B:6QI=&EE2!O9@T*("`@:6YP=71S(&%V86EL86)L92!I;B!T:&4@;6%R:V5T<&QA M8V4@=7-E9"!T;R!M96%S=7)E('1H92!F86ER('9A;'5E+B!,979E;"`Q(')E M9F5R6QE/3-$ M)V9O;G0MF5D('5S M:6YG('1H92!F86ER('9A;'5E#0H@("!H:65R87)C:'D@9&5S8W)I8F5D(&%B M;W9E+@T*("`@/"]D:78^#0H@("`\9&EV(&%L:6=N/3-$8V5N=&5R/@T*("`@ M/'1A8FQE('-T>6QE/3-$)V9O;G0M2!.971T:6YG("AA*3PO=&0^#0H@("`@("`@ M/'1D/B8C,38P.SPO=&0^#0H@("`@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@ M("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!A;&EG;CTS1&-E;G1E6QE/3-$)V)A8VMG M#L@=&5X="UI;F1E;G0Z+3$U<'@G/DIU;F4F M(S$V,#LS,"P@,C`Q,3H-"B`@(#PO9&EV/CPO=&0^#0H@("`@("`@/'1D/B8C M,38P.SPO=&0^#0H@("`@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@("`@/'1D M/B8C,38P.SPO=&0^#0H@("`@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@("`@ M/'1D/B8C,38P.SPO=&0^#0H@("`@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@ M("`@/'1D/B8C,38P.SPO=&0^#0H@("`@("`@/'1D/B8C,38P.SPO=&0^#0H@ M("`@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@("`@/'1D/B8C,38P.SPO=&0^ M#0H@("`@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@("`@/'1D/B8C,38P.SPO M=&0^#0H@("`@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@("`@/'1D/B8C,38P M.SPO=&0^#0H@("`@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@("`@/'1D/B8C M,38P.SPO=&0^#0H@("`@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@("`@/'1D M/B8C,38P.SPO=&0^#0H@("`@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@("`@ M/'1D/B8C,38P.SPO=&0^#0H@("`\+W1R/@T*("`@/'1R('9A;&EG;CTS1&)O M='1O;3X-"B`@("`@("`\=&0^#0H@("`\9&EV('-T>6QE/3-$)VUA'0M:6YD96YT.BTQ-7!X)SY$97)I=F%T:79E(&%S6QE/3-$ M)VUA'0M:6YD96YT.BTQ-7!X)SY$97)I=F%T M:79E(&QI86)I;&ET:65S#0H@("`\+V1I=CX\+W1D/@T*("`@("`@(#QT9#XF M(S$V,#L\+W1D/@T*("`@("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@("`@(#QT M9"!A;&EG;CTS1')I9VAT/B8C.#(Q,CL\+W1D/@T*("`@("`@(#QT9#XF(S$V M,#L\+W1D/@T*("`@("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@("`@(#QT9"!N M;W=R87`],T1N;W=R87`@86QI9VX],T1L969T/B8C,38P.SPO=&0^#0H@("`@ M("`@/'1D(&%L:6=N/3-$"<^)B,Q-C`[#0H@("`\+V1I=CX\+W1D/@T*("`@ M("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@("`@(#QT9"!N;W=R87`],T1N;W=R M87`@8V]L6QE/3-$)V)O"!S;VQI9"`C,#`P,#`P)SXF(S$V,#L\+W1D/@T*("`@("`@(#QT9#XF(S$V M,#L\+W1D/@T*("`@("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@("`@(#QT9"!N M;W=R87`],T1N;W=R87`@8V]L6QE/3-$)VUA'0M M:6YD96YT.BTQ-7!X)SY4;W1A;`T*("`@/"]D:78^/"]T9#X-"B`@("`@("`\ M=&0^)B,Q-C`[/"]T9#X-"B`@("`@("`\=&0@86QI9VX],T1L969T/B9N8G-P M.R0\+W1D/@T*("`@("`@(#QT9"!A;&EG;CTS1')I9VAT/B8C.#(Q,CL\+W1D M/@T*("`@("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@("`@(#QT9#XF(S$V,#L\ M+W1D/@T*("`@("`@(#QT9"!A;&EG;CTS1&QE9G0^)FYB6QE/3-$)V9O;G0M6QE/3-$)VUA'0M:6YD96YT M.BTQ-7!X)SXF(S$V,#L-"B`@(#PO9&EV/CPO=&0^#0H@("`@("`@/'1D/B8C M,38P.SPO=&0^#0H@("`@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!C;VQS<&%N M/3-$,B!A;&EG;CTS1')I9VAT('-T>6QE/3-$)V)O"!D M;W5B;&4@(S`P,#`P,"<^)B,Q-C`[/"]T9#X-"B`@("`@("`\=&0^)B,Q-C`[ M/"]T9#X-"B`@("`@("`\=&0^)B,Q-C`[/"]T9#X-"B`@("`@("`\=&0@;F]W M6QE/3-$)V)O M"!D;W5B;&4@(S`P,#`P,"<^)B,Q-C`[/"]T9#X-"B`@ M("`@("`\=&0^)B,Q-C`[/"]T9#X-"B`@("`@("`\=&0^)B,Q-C`[/"]T9#X- M"B`@("`@("`\=&0@;F]W"<^1&5C96UB M97(F(S$V,#LS,2P@,C`Q,#H-"B`@(#PO9&EV/CPO=&0^#0H@("`@("`@/'1D M/B8C,38P.SPO=&0^#0H@("`@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@("`@ M/'1D/B8C,38P.SPO=&0^#0H@("`@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@ M("`@/'1D/B8C,38P.SPO=&0^#0H@("`@("`@/'1D/B8C,38P.SPO=&0^#0H@ M("`@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@("`@/'1D/B8C,38P.SPO=&0^ M#0H@("`@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@("`@/'1D/B8C,38P.SPO M=&0^#0H@("`@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@("`@/'1D/B8C,38P M.SPO=&0^#0H@("`@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@("`@/'1D/B8C M,38P.SPO=&0^#0H@("`@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@("`@/'1D M/B8C,38P.SPO=&0^#0H@("`@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@("`@ M/'1D/B8C,38P.SPO=&0^#0H@("`@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@ M("`@/'1D/B8C,38P.SPO=&0^#0H@("`\+W1R/@T*("`@/'1R('9A;&EG;CTS M1&)O='1O;3X-"B`@("`@("`\=&0^#0H@("`\9&EV('-T>6QE/3-$)VUA'0M:6YD96YT.BTQ-7!X)SY$97)I=F%T:79E(&%S M6QE/3-$)V)A8VMG M#L@=&5X="UI;F1E;G0Z+3$U<'@G/D1E6QE/3-$)V9O;G0M6QE/3-$)VUA'0M:6YD96YT.BTQ-7!X)SXF(S$V,#L-"B`@(#PO9&EV/CPO=&0^#0H@ M("`@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@("`@/'1D(&YO=W)A<#TS1&YO M=W)A<"!C;VQS<&%N/3-$,B!A;&EG;CTS1')I9VAT('-T>6QE/3-$)V)O"!S;VQI9"`C,#`P,#`P)SXF(S$V,#L\+W1D/@T*("`@("`@ M(#QT9#XF(S$V,#L\+W1D/@T*("`@("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@ M("`@(#QT9"!N;W=R87`],T1N;W=R87`@8V]L6QE/3-$)V)O"!S;VQI9"`C,#`P,#`P)SXF(S$V,#L\ M+W1D/@T*("`@("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@("`@(#QT9#XF(S$V M,#L\+W1D/@T*("`@("`@(#QT9"!N;W=R87`],T1N;W=R87`@8V]L#L@=&5X M="UI;F1E;G0Z+3$U<'@G/E1O=&%L#0H@("`\+V1I=CX\+W1D/@T*("`@("`@ M(#QT9#XF(S$V,#L\+W1D/@T*("`@("`@(#QT9"!A;&EG;CTS1&QE9G0^)FYB M6QE/3-$)V9O;G0M6QE/3-$)VUA'0M:6YD96YT M.BTQ-7!X)SXF(S$V,#L-"B`@(#PO9&EV/CPO=&0^#0H@("`@("`@/'1D/B8C M,38P.SPO=&0^#0H@("`@("`@("`@(#QT9"!N;W=R87`],T1N;W=R87`@8V]L M2`M+3X-"B`@(#PO=&%B;&4^#0H@("`\+V1I=CX-"B`@(#QD:78@86QI M9VX],T1L969T/@T*("`@/&1I=B!S='EL93TS1"=F;VYT+7-I>F4Z(#-P=#L@ M;6%R9VEN+71O<#H@,39P=#L@=VED=&@Z(#$X)3L@8F]R9&5R+71O<#H@,7!X M('-O;&ED(",P,#`P,#`G/B8C,38P.PT*("`@/"]D:78^#0H@("`\+V1I=CX- M"B`@(#QT86)L92!W:61T:#TS1#$P,"4@8F]R9&5R/3-$,"!C96QL<&%D9&EN M9STS1#`@8V5L;'-P86-I;F<],T0P('-T>6QE/3-$)V9O;G0M6QE/3-$)V9O;G0M2!Q=6%R=&5R;'DL M(&%N;G5A;&QY+"!O6QE/3-$)V9O;G0M6UE;G1S+"!W:&EC:"!E>'1E;F0@=&\@=&AE(&5N9"!O9B!T:&4@ M86ER8W)A9G0F(S@R,3<[F4Z(#$P<'0[(&UA MF5D(&EM<&%I6QE/3-$)V9O M;G0M9F%M:6QY.B`G5&EM97,@3F5W(%)O;6%N)RQ4:6UE6QE/3-$)V9O;G0M6QE M/3-$)V9O;G0M6QE/3-$)V9O;G0M6EN9R`\+W1D/@T*("`@("`@(#QT9#XF(S$V,#L\+W1D/@T* M("`@/"]TF4Z(#AP="<@=F%L M:6=N/3-$8F]T=&]M/@T*("`@("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@("`@ M(#QT9#XF(S$V,#L\+W1D/@T*("`@("`@(#QT9"!N;W=R87`],T1N;W=R87`@ M86QI9VX],T1C96YT97(@8V]L6QE/3-$)V)O"!S;VQI9"`C,#`P,#`P)SY$96-E;6)E6QE/3-$)V)O"!S;VQI9"`C,#`P,#`P)SY386QE2`M+3X-"B`@(#QT6QE/3-$)VUA'0M:6YD96YT.BTQ-7!X)SY&;&EG:'0@97%U:7!M M96YT(&AE;&0@9F]R('-A;&4-"B`@(#PO9&EV/CPO=&0^#0H@("`@("`@/'1D M/B8C,38P.SPO=&0^#0H@("`@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@("`@ M/'1D(&%L:6=N/3-$6QE/3-$)V9O;G0M6QE/3-$)VUA'0M:6YD M96YT.BTQ-7!X)SXF(S$V,#L-"B`@(#PO9&EV/CPO=&0^#0H@("`@("`@/'1D M/B8C,38P.SPO=&0^#0H@("`@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!C;VQS M<&%N/3-$,B!A;&EG;CTS1')I9VAT('-T>6QE/3-$)V)O"!S;VQI9"`C,#`P,#`P)SXF(S$V,#L\+W1D/@T*("`@("`@(#QT9#XF(S$V M,#L\+W1D/@T*("`@("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@("`@(#QT9"!N M;W=R87`],T1N;W=R87`@8V]L6QE/3-$)V)O M"!S;VQI9"`C,#`P,#`P)SXF(S$V,#L\+W1D/@T*("`@ M("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@("`@(#QT9#XF(S$V,#L\+W1D/@T* M("`@("`@(#QT9"!N;W=R87`],T1N;W=R87`@8V]L6QE/3-$)VUA'0M:6YD96YT.BTQ-7!X)SY4;W1A;`T*("`@/"]D:78^/"]T M9#X-"B`@("`@("`\=&0^)B,Q-C`[/"]T9#X-"B`@("`@("`\=&0@86QI9VX] M,T1L969T/B9N8G-P.R0\+W1D/@T*("`@("`@(#QT9"!A;&EG;CTS1')I9VAT M/C4Y,RXT/"]T9#X-"B`@("`@("`\=&0^)B,Q-C`[/"]T9#X-"B`@("`@("`\ M=&0^)B,Q-C`[/"]T9#X-"B`@("`@("`\=&0@;F]W6QE/3-$)V9O M;G0M6QE/3-$ M)VUA'0M:6YD96YT.BTQ-7!X)SXF(S$V,#L- M"B`@(#PO9&EV/CPO=&0^#0H@("`@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@ M("`@("`@(#QT9"!N;W=R87`],T1N;W=R87`@8V]L2`M+3X-"B`@(#PO=&%B;&4^#0H@("`\+V1I=CX-"B`@ M(#PO9&EV/@T*/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@ M(#PO=&%B;&4^#0H@(#PO8F]D>3X-"CPO:'1M;#X-"@T*+2TM+2TM/5].97AT M4&%R=%\X,CDQ969A9E]E,C`X7S0Y-3=?8F4Q,5]D-6(V869B,&(U,3,-"D-O M;G1E;G0M3&]C871I;VXZ(&9I;&4Z+R\O0SHO.#(Y,65F869?93(P.%\T.34W M7V)E,3%?9#5B-F%F8C!B-3$S+U=O'0O:'1M;#L@8VAA7!E(&-O;G1E;G0],T0G=&5X="]H=&UL.R!C:&%R&AT;6PQ+71R86YS:71I;VYA;"YD=&0B("TM M/@T*("`@/"$M+2!"96=I;B!";&]C:R!486=G960@3F]T92`Q,"`M('5S+6=A M87`Z1F%I6QE/3-$)V9O;G0M6QE/3-$)V9O;G0MF4Z M(#$P<'0[(&UAF4Z(#$P<'0[ M(&UA65A&-H86YG92!A;F0@=F]L871I;&ET>2!R871E6QE M/3-$)V9O;G0M6EN9R!A;6]U;G1S(&%N9"!F86ER('9A;'5E6QE/3-$)V9O;G0M6QE/3-$)V)O"!S;VQI M9"`C,#`P,#`P)SY*=6YE(#,P+"`R,#$Q/"]T9#X-"B`@("`@("`\=&0^)B,Q M-C`[/"]T9#X-"B`@("`@("`\=&0^)B,Q-C`[/"]T9#X-"B`@("`@("`\=&0@ M;F]W6QE/3-$)V)O"!S;VQI9"`C,#`P,#`P)SY$96-E M;6)E6QE/3-$)V9O;G0M6EN9R!!;6]U;G0@/"]T M9#X-"B`@("`@("`\=&0^)B,Q-C`[/"]T9#X-"B`@("`@("`\=&0^)B,Q-C`[ M/"]T9#X-"B`@("`@("`\=&0@;F]W6QE/3-$)V)O"!S;VQI M9"`C,#`P,#`P)SX@07-S970@*$QI86)I;&ET>2D\+W1D/@T*("`@("`@(#QT M9#XF(S$V,#L\+W1D/@T*("`@("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@("`@ M(#QT9"!N;W=R87`],T1N;W=R87`@86QI9VX],T1C96YT97(@8V]L6QE M/3-$)VUA'0M:6YD96YT.BTQ-7!X)SY#87-H M+"!I;F-L=61I;F<@6QE/3-$)VUA'0M:6YD M96YT.BTQ-7!X)SY.;W1E6QE/3-$)VUA'0M:6YD96YT.BTQ-7!X)SY$96)T(&9I;F%N8VEN M9R`H:6YC;'5D:6YG(`T*("`@2!A9&IU"<^1&5R:79A=&EV92!A"!S;VQI9"`C,#`P,#`P)SXF(S$V M,#L-"B`@(#PO9&EV/@T*("`@/"]D:78^#0H@("`\=&%B;&4@=VED=&@],T0Q M,#`E(&)O'0M86QI9VXZ(&QE9G0G M/@T*("`@/'1R/@T*("`@("`@(#QT9"!W:61T:#TS1#,E/CPO=&0^#0H@("`@ M("`@/'1D('=I9'1H/3-$,24^/"]T9#X-"B`@("`@("`\=&0@=VED=&@],T0Y M-B4^/"]T9#X-"B`@(#PO='(^#0H@("`\='(@=F%L:6=N/3-$=&]P/@T*("`@ M("`@(#QT9"!N;W=R87`],T1N;W=R87`@86QI9VX],T1L969T/BAA*3PO=&0^ M#0H@("`@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@("`@/'1D/DEN8VQU9&5S M(')E7!E.B!T97AT+VAT;6P[(&-H87)S970](G5S+6%S8VEI(@T*#0H\:'1M;#X- M"B`@/&AE860^#0H@("`@/$U%5$$@:'1T<"UE<75I=CTS1$-O;G1E;G0M5'EP M92!C;VYT96YT/3-$)W1E>'0O:'1M;#L@8VAA2!$97!O2!$97!O'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@ M/'1R(&-L87-S/3-$2!$97!O6QE/3-$)V9O M;G0M6QE/3-$)V9O;G0M2!D97!O6QE/3-$)V9O;G0M6QE/3-$)V)O"!S M;VQI9"`C,#`P,#`P)SXR,#$Q/"]T9#X-"B`@("`@("`\=&0^)B,Q-C`[/"]T M9#X-"B`@("`@("`\=&0^)B,Q-C`[/"]T9#X-"B`@("`@("`\=&0@;F]W6QE/3-$ M)V)O"!S;VQI9"`C,#`P,#`P)SY$96-E;6)E6QE/3-$)V9O;G0M6QE/3-$ M)VUA'0M:6YD96YT.BTQ-7!X)SY396-U2!D97!O"<^3W9E6QE/3-$)V)A8VMG#L@ M=&5X="UI;F1E;G0Z+3$U<'@G/D]T:&5R(&-U"<^)B,Q-C`[#0H@("`\ M+V1I=CX\+W1D/@T*("`@("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@("`@(#QT M9"!N;W=R87`],T1N;W=R87`@8V]L6QE/3-$)VUA'0M:6YD96YT.BTQ-7!X)SY4;W1A;`T*("`@/"]D:78^/"]T9#X-"B`@("`@ M("`\=&0^)B,Q-C`[/"]T9#X-"B`@("`@("`\=&0@86QI9VX],T1L969T/B9N M8G-P.R0\+W1D/@T*("`@("`@(#QT9"!A;&EG;CTS1')I9VAT/C$L-C@R+#$T M,#PO=&0^#0H@("`@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@("`@/'1D/B8C M,38P.SPO=&0^#0H@("`@("`@/'1D(&%L:6=N/3-$;&5F=#XF;F)S<#LD/"]T M9#X-"B`@("`@("`\=&0@86QI9VX],T1R:6=H=#XQ+#8R,"PW.#0\+W1D/@T* M("`@("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@/"]TF4Z(#%P>"<^#0H@("`@("`@/'1D/@T*("`@/&1I=B!S M='EL93TS1"=M87)G:6XM;&5F=#HQ-7!X.R!T97AT+6EN9&5N=#HM,35P>"<^ M)B,Q-C`[#0H@("`\+V1I=CX\+W1D/@T*("`@("`@(#QT9#XF(S$V,#L\+W1D M/@T*("`@("`@("`@("`\=&0@;F]W7!E.B!T97AT+VAT;6P[(&-H87)S970](G5S+6%S8VEI(@T* M#0H\:'1M;#X-"B`@/&AE860^#0H@("`@/$U%5$$@:'1T<"UE<75I=CTS1$-O M;G1E;G0M5'EP92!C;VYT96YT/3-$)W1E>'0O:'1M;#L@8VAA2!4'1";&]C:RTM/@T*("`@/&1I=B!S='EL93TS1"=F;VYT+69A;6EL M>3H@)U1I;65S($YE=R!2;VUA;B6QE/3-$)V9O;G0M M6%B;&4@;VX@82!L;V%N(')E;&%T960@=&\@8V5R=&%I;B!T87@@<&QA M;FYI;F<@86-T:79I=&EE2!O9B!!242UO=VYE9`T*("`@2!O9B!!242X-"B`@(#PO9&EV/@T*("`@/&1I=B!A;&EG;CTS M1&QE9G0@6QE/3-$)V9O;G0M6QE/3-$ M)V)O"!S;VQI9"`C,#`P,#`P)SXF(S$V,#L\+W1D M/@T*("`@("`@(#QT9"`@6QE/3-$)V)O"!S;VQI9"`C,#`P,#`P)SXF(S$V,#L\+W1D/@T*("`@("`@(#QT9"!S='EL M93TS1"=B;W)D97(M8F]T=&]M.B`Q<'@@6QE/3-$)V)O"!S M;VQI9"`C,#`P,#`P)SY*=6YE(#,P+"`R,#$Q/"]T9#X-"B`@("`@("`\=&0@ M6QE/3-$)V)O"!S;VQI9"`C,#`P,#`P)SXF(S$V,#L\+W1D/@T*("`@("`@(#QT9"!N M;W=R87`],T1N;W=R87`@86QI9VX],T1C96YT97(@8V]L2`M+3X-"B`@(#QT"<^17AP96YS92`H:6YC;VUE*3H-"B`@(#PO9&EV M/CPO=&0^#0H@("`@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@("`@/'1D/B8C M,38P.SPO=&0^#0H@("`@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@("`@/'1D M/B8C,38P.SPO=&0^#0H@("`@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@("`@ M/'1D/B8C,38P.SPO=&0^#0H@("`@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@ M("`@/'1D/B8C,38P.SPO=&0^#0H@("`@("`@/'1D/B8C,38P.SPO=&0^#0H@ M("`@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@("`@/'1D/B8C,38P.SPO=&0^ M#0H@("`@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@("`@/'1D/B8C,38P.SPO M=&0^#0H@("`@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@("`@/'1D/B8C,38P M.SPO=&0^#0H@("`@("`@/'1D/B8C,38P.SPO=&0^#0H@("`\+W1R/@T*("`@ M/'1R('9A;&EG;CTS1&)O='1O;3X-"B`@("`@("`\=&0^#0H@("`\9&EV('-T M>6QE/3-$)VUA'0M:6YD96YT.BTQ-7!X)SY) M;G1E'!E;G-E(&]N(&QO86YS(&9R;VT@04E'(`T*("`@1G5N9&EN M9PT*("`@/"]D:78^/"]T9#X-"B`@("`@("`\=&0^)B,Q-C`[/"]T9#X-"B`@ M("`@("`\=&0@86QI9VX],T1L969T/B9N8G-P.R0\+W1D/@T*("`@("`@(#QT M9"!A;&EG;CTS1')I9VAT/B8C.#(Q,CL\+W1D/@T*("`@("`@(#QT9#XF(S$V M,#L\+W1D/@T*("`@("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@("`@(#QT9"!A M;&EG;CTS1&QE9G0^)FYB"<^169F96-T(&9R;VT@9&5R:79A=&EV97,@;VX@8V]N=')A8W1S(`T* M("`@=VET:"!!24=&4"!N;W9A=&5D('1O($%)1R!-87)K971S+"`-"B`@($EN M8RX-"B`@(#PO9&EV/CPO=&0^#0H@("`@("`@/'1D/B8C,38P.SPO=&0^#0H@ M("`@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!A;&EG;CTS1&QE9G0^)B,Q-C`[ M/"]T9#X-"B`@("`@("`\=&0@86QI9VX],T1R:6=H=#XH,2PR,C,\+W1D/@T* M("`@("`@(#QT9"!N;W=R87`],T1N;W=R87`^*3PO=&0^#0H@("`@("`@/'1D M/B8C,38P.SPO=&0^#0H@("`@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!A;&EG M;CTS1&QE9G0^)B,Q-C`[/"]T9#X-"B`@("`@("`\=&0@86QI9VX],T1R:6=H M=#XH,RPT,3`\+W1D/@T*("`@("`@(#QT9"!N;W=R87`],T1N;W=R87`^*3PO M=&0^#0H@("`@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@("`@/'1D(&YO=W)A M<#TS1&YO=W)A<"!A;&EG;CTS1&QE9G0^)B,Q-C`[/"]T9#X-"B`@("`@("`\ M=&0@86QI9VX],T1R:6=H=#XH.38U/"]T9#X-"B`@("`@("`\=&0@;F]W6QE/3-$ M)VUA'0M:6YD96YT.BTQ-7!X)SY,96%S92!R M979E;G5E(')E;&%T960@=&\@:&5D9VEN9R!O9B`-"B`@(&QE87-E(')E8V5I M<'1S('=I=&@@04E'1E`-"B`@(#PO9&EV/CPO=&0^#0H@("`@("`@/'1D/B8C M,38P.SPO=&0^#0H@("`@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@("`@/'1D M(&%L:6=N/3-$#L@=&5X="UI;F1E;G0Z+3$U<'@G/D%L;&]C871I;VX@ M;V8@8V]R<&]R871E(&-O"<^36%N86=E;65N="!F965S(')E8V5I=F5D M#0H@("`\+V1I=CX\+W1D/@T*("`@("`@(#QT9#XF(S$V,#L\+W1D/@T*("`@ M("`@(#QT9"!N;W=R87`],T1N;W=R87`@86QI9VX],T1L969T/B8C,38P.SPO M=&0^#0H@("`@("`@/'1D(&%L:6=N/3-$"<^ M36%N86=E;65N="!F965S('!A:60-"B`@(#PO9&EV/CPO=&0^#0H@("`@("`@ M/'1D/B8C,38P.SPO=&0^#0H@("`@("`@/'1D/B8C,38P.SPO=&0^#0H@("`@ M("`@/'1D(&%L:6=N/3-$2`M+3X-"B`@(#PO=&%B;&4^#0H@("`\+V1I=CX-"B`@(#QD:78@86QI9VX] M,T1C96YT97(^#0H@("`\=&%B;&4@6QE/3-$)V9O;G0M6QE/3-$)V)O"!S;VQI9"`C,#`P,#`P)SY$96-E;6)E6QE/3-$)V9O;G0M6QE/3-$)VUA'0M:6YD96YT.BTQ M-7!X)SY!6QE/3-$)VUA'0M:6YD96YT.BTQ-7!X)SY$97)I=F%T:79E(&%S"<^26YC;VUE('1A M>&5S('!A>6%B;&4@=&\@04E'("AA*0T*("`@/"]D:78^/"]T9#X-"B`@("`@ M("`\=&0^)B,Q-C`[/"]T9#X-"B`@("`@("`\=&0@;F]W"<^06-C M6QE/3-$)V9O;G0M&EM871E;'D@)FYB7!E.B!T M97AT+VAT;6P[(&-H87)S970](G5S+6%S8VEI(@T*#0H\:'1M;#X-"B`@/&AE M860^#0H@("`@/$U%5$$@:'1T<"UE<75I=CTS1$-O;G1E;G0M5'EP92!C;VYT M96YT/3-$)W1E>'0O:'1M;#L@8VAA&AT;6PQ+71R86YS:71I;VYA;"YD M=&0B("TM/@T*("`@/"$M+2!"96=I;B!";&]C:R!486=G960@3F]T92`Q,R`M M('5S+6=A87`Z0V]M;6ET;65N='-!;F1#;VYT:6YG96YC:65S1&ES8VQO'1";&]C:RTM/@T*("`@/&1I=B!S='EL93TS1"=F;VYT+69A;6EL>3H@ M)U1I;65S($YE=R!2;VUA;B6QE/3-$)V9O;G0M M6QE/3-$)VUA'0M86QI M9VXZ(&QE9G0G/@T*("`@/'1R('9A;&EG;CTS1'1O<"!S='EL93TS1"=F;VYT M+7-I>F4Z(#$P<'0[(&-O;&]R.B`C,#`P,#`P.R!B86-K9W)O=6YD.B!T2!T:&4-"B`@('-H;W)T9F%L;"!B971W965N('1H92!F86ER M(&UA&EM=6T@86=G2`F;F)S<#LD-#2!A:7)C6EN9R!V86QU97,@;V8@=&AE(&%I'0@&EM=6T@97AP;W-U&EM871E;'D@ M)FYB2!O9B!T:&4@9W5A6QE M/3-$)V9O;G0M6QE/3-$)VUA'0M86QI9VXZ(&QE9G0G/@T*("`@/'1R('9A;&EG;CTS M1'1O<"!S='EL93TS1"=F;VYT+7-I>F4Z(#$P<'0[(&-O;&]R.B`C,#`P,#`P M.R!B86-K9W)O=6YD.B!T7,M665M96YI82!A;F0@06ER8FQU92!, M:6UI=&5D.B`\+VD^5V4@87)E(&YA;65D(&EN#0H@("!L87=S=6ET2!T:&4@ M9F%M:6QI97,@;V8@=FEC=&EM2!C;VUM96YC960-"B`@(&EN($UA>28C,38P.S(P,#0@:6X@ M0V%L:69O28C,38P M.S(P,3$@86YD($UA2!A;6]U;G0@;V8-"B`@(&1A;6%G97,L('=E(&)E;&EE=F4@=&AA M="!W92!A2!C;W9E2!O9B!T:&5S92!L87=S=6ETF4Z(#$P<'0[(&UA2!O9B!T:&5S92!M871T97)S M('=I;&P@8F4@;6%T97)I86P-"B`@('1O(&]U'0O M:F%V87-C3X-"B`@("`\ M=&%B;&4@8VQA'1";&]C:RTM/@T*("`@/&1I=B!S='EL93TS1"=F M;VYT+69A;6EL>3H@)U1I;65S($YE=R!2;VUA;B6QE M/3-$)V9O;G0MF4Z(#$P<'0[(&UAF4Z(#$P<'0[(&UA2!S;VQD(&%I2!I;G1E2`F;F)S<#LD,3,N-28C,38P.VUI;&QI;VXL(&]F M('=H:6-H(&%P<')O>&EM871E;'D@)FYB'!O2!A="!*=6YE)B,Q M-C`[,S`L(#(P,3$N#0H@("`\+V1I=CX-"B`@(#QD:78@86QI9VX],T1L969T M('-T>6QE/3-$)V9O;G0M6QE/3-$)V9O;G0M2!O9B!T:&4@6QE/3-$)V9O;G0M M2!W92!C2!E=F5N('1H;W5G:"!T:&5Y(&%R92!L96=A;&QY(&1E8G0@:6YS M=')U;65N=',N(%1H:7,-"B`@(&5N=&ET>2!B;W)R;W=E9"`F;F)S<#LD-34N M-"8C,38P.VUI;&QI;VX@9G)O;2!A('1H:7)D('!A2!A9F9E8W0@=&AE(&5N=&ET>28C M.#(Q-SMS(&5C;VYO;6EC('!E6QE/3-$)V9O;G0M2UO M=VYE9"!S=6)S:61I87)I97,@9F]R('1H92!P=7)P;W-E(&]F('!U2!T;R!O<&5R871E('=I M=&AO=70@24Q&0R8C.#(Q-SMS('-U8F]R9&EN871E9"!F:6YA;F-I86P@2!A9F9E8W0@=&AE(&5N=&ET>28C.#(Q-SMS(&5C;VYO;6EC('!E MF4Z(#$P<'0[(&UA2!D;R!N;W0@:&%V92!S=69F:6-I M96YT#0H@("!E<75I='D@=&\@;W!E2!A9F9E8W0-"B`@('1H92!E;G1I='DF(S@R,3<[2!O9B!T:&4@6QE/3-$ M)V9O;G0M2!D;R!N;W0@:&%V92!S=69F M:6-I96YT#0H@("!E<75I='D@=&\@;W!E2!O9B!T:&4@'0O:F%V87-C3X-"B`@("`\=&%B;&4@8VQA'!E;G-E6QE/3-$)V9O M;G0M9F%M:6QY.B`G5&EM97,@3F5W(%)O;6%N)RQ4:6UE6QE/3-$)VUA'0M86QI M9VXZ(&QE9G0G/@T*("`@/'1R('9A;&EG;CTS1'1O<"!S='EL93TS1"=F;VYT M+7-I>F4Z(#$P<'0[(&-O;&]R.B`C,#`P,#`P.R!B86-K9W)O=6YD.B!T6QE/3-$)V9O;G0M6QE/3-$)V9O;G0MF4Z(#$P<'0[(&UA"!M;VYT:',@96YD960@2G5N928C,38P.S,P+"`R,#$Q M+"!W92!R96-O9VYI>F5D(&$@)FYB'!E M;G-E(')E;&%T960@=&\@=&AE#0H@("!C86YC96QL871I;VX@;V8@86X@86ER M8W)A9G0@96YG:6YE(&]R9&5R+B!792!E;&EM:6YA=&5D('1H92!E8V]N;VUI M8R!E9F9E8W0@;V8@=&AE("9N8G-P.R0R,"8C,38P.VUI;&QI;VX-"B`@(&5X M<&5N6UE M;G1S(&ES(')E;&%T960@=&\@82`R,#`W(&%G6UE;G0@:7,@8V]N=&EN9V5N="!U<&]N M(&]U6UE;G0@ M;V8@)FYBF4Z(#$P<'0[(&UA"!M;VYT:',@96YD960@2G5N928C,38P.S,P M+"`R,#$P+"!/=&AE'!E;G-E'0O:F%V87-C3X-"B`@("`\=&%B;&4@8VQA6QE/3-$)V9O;G0M6QE/3-$)V9O;G0M6QE/3-$)V9O;G0M2UO=VYE9"!D:7)E M8W0@2!O9B!!97)#87`@*"8C.#(R,#M!97)O5'5R8FEN928C M.#(R,3LI+"!F;W(@86X-"B`@(&%G9W)E9V%T92!C87-H('!U2`F;F)S<#LD,CDX+C8F M(S$V,#MM:6QL:6]N(&]U='-T86YD:6YG('5N9&5R('1H:7,@9F%C:6QI='D@ M87,@;V8@2G5L>28C,38P.S,Q+"`R,#$Q+@T*("`@/"]D:78^#0H@("`\9&EV M(&%L:6=N/3-$;&5F="!S='EL93TS1"=F;VYT+7-I>F4Z(#$P<'0[(&UA2!E>'!E8W1E9"!T;R!O8V-U2!C;&]S:6YG(&-O;F1I=&EO;G,L(&EN8VQU9&EN9R!A M<'!L:6-A8FQE(&%N=&ET7!E.B!T97AT+VAT;6P[(&-H87)S970](G5S+6%S8VEI M(@T*#0H\>&UL('AM;&YS.F\],T0B=7)N.G-C:&5M87,M;6EC&UL/@T*+2TM+2TM/5].97AT4&%R J=%\X,CDQ969A9E]E,C`X7S0Y-3=?8F4Q,5]D-6(V869B,&(U,3,M+0T* ` end

Document and Entity Information	6 Months Ended
Document and Entity Information	Jun. 30, 2011	Aug. 10, 2011
Document and Entity Information [Abstract]
Entity Registrant Name	INTERNATIONAL LEASE FINANCE CORP
Entity Central Index Key	0000714311
Document Type	10-Q
Document Period End Date	Jun. 30, 2011
Amendment Flag	false
Document Fiscal Year Focus	2011
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		45,267,723

Condensed Consolidated Statements of Cash Flows (Parenthetical) (USD $) In Thousands	6 Months Ended
	Jun. 30, 2011	Jun. 30, 2010
Cash paid during the period for:
Interest capitalized	$ 2,790	$ 3,080
Non cash investing and financing activities
Asset held for sale reclassified to flight equipment under operating leases	76,438
Amount recognized to flight equipment under operating leases reclassified from asset held for sale	78,673
Income realized for aircraft that no longer meet the definition of held for sale	2,235
Net investment in finance leases transferred to flight equipment under operating leases		192,161
Deposits on flight equipment purchases applied to acquisition of flight equipment under operating leases	50,905	29,177
Customer security deposits were forfeited and recognized in income	13,103
Lease receivables and other assets applied to acquisition of flight equipment under operating leases		11,193
Additional deposits on flight equipment purchases applied to acquisition of flight equipment under operating leases		36,799
Amount of flight equipment under operating leases transferred to other assets upon part-out of aircraft	3,050
Amount of flight equipment under operating leases transferred to lease receivables and other assets		3,225
Amount of Flight equipment under operating leases was transferred to flight equipment held for sale	$ 5,220	$ 2,165,077

Basis of Preparation	6 Months Ended
Basis of Preparation	Jun. 30, 2011
Basis of Preparation [Abstract]
Basis of Preparation	A. Basis of Preparation ILFC is an indirect wholly-owned subsidiary of AIG. AIG is a holding company, which, through its subsidiaries, is primarily engaged in a broad range of insurance and insurance-related activities in the United States and abroad. The accompanying unaudited, condensed, consolidated financial statements have been prepared in accordance with GAAP for interim financial information and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. The accompanying unaudited, condensed, consolidated financial statements include our accounts and accounts of all other entities in which we have a controlling financial interest. See Note N — Variable Interest Entities for further discussions on VIEs. All material intercompany accounts have been eliminated in consolidation. Results for the three and six month periods ended June 30, 2011 include an out of period adjustment related to prior quarters and years which increased pre-tax income by $8.1 million and $8.3 million, respectively. The out of period adjustment relates principally to the forfeiture of share-based deferred compensation awards for certain employees who terminated their employment with us in 2010. Management has determined, after evaluating the quantitative and qualitative aspects of this out of period adjustment, that our current and prior period financial statements are not materially misstated and will not be material to our estimated results of operations for the year ended December 31, 2011. In the opinion of management, all adjustments considered necessary for a fair statement of the results for the interim periods presented have been included. Certain reclassifications have been made to the 2010 unaudited, condensed, consolidated financial statements to conform to the 2011 presentation. Operating results for the six months ended June 30, 2011, are not necessarily indicative of the results that may be expected for the year ending December 31, 2011. These statements should be read in conjunction with the consolidated financial statements and footnotes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2010.

Recent Accounting Pronouncements	6 Months Ended
Recent Accounting Pronouncements	Jun. 30, 2011
Recent Accounting Pronouncements [Abstract]
Recent Accounting Pronouncements	B. Recent Accounting Pronouncements We did not adopt any new accounting standards during the first six months of 2011. Future Application of Accounting Standards: A Creditor’s Determination of Whether a Restructuring is a Troubled Debt Restructuring In April 2011, the FASB issued an accounting standard update that amends the guidance for a creditor’s evaluation of whether a restructuring is a troubled debt restructuring and requires additional disclosures about a creditor’s troubled debt restructuring activities. The new standard clarifies the existing guidance on the two criteria used by creditors to determine whether a modification or restructuring is a troubled debt restructuring: (i) whether the creditor has granted a concession and (ii) whether the debtor is experiencing financial difficulties. The new standard is effective for interim and annual periods beginning on July 1, 2011, with early adoption permitted. We are required to apply the guidance in the accounting standard retrospectively for all modifications and restructuring activities that have occurred since January 1, 2011. For receivables that are considered newly impaired under the guidance, we are required to measure the impairment of those receivables prospectively in the first period of adoption. In addition, we must begin providing the disclosures about troubled debt restructuring activities in the period of adoption. We are currently assessing the effect of adoption of this new standard on our consolidated financial position, results of operations and cash flows. Common Fair Value Measurements and Disclosure Requirements in GAAP and IFRS In May 2011, the FASB issued an accounting standard update that amends certain aspects of the fair value measurement guidance in GAAP, primarily to achieve the FASB’s objective of a converged definition of fair value and substantially converged measurement and disclosure guidance with IFRS. Consequently, when the new standard becomes effective on January 1, 2012, GAAP and IFRS will be consistent, with certain exceptions including the accounting for day one gains and losses, measuring the fair value of alternative investments measured on a net asset value basis and certain disclosure requirements. The new standard’s fair value guidance applies to all companies that measure assets, liabilities, or instruments classified in shareholders’ equity at fair value or provide fair value disclosures for items not recorded at fair value. While many of the amendments to GAAP are not expected to significantly affect current practice, the guidance clarifies how a principal market is determined, addresses the fair value measurement of financial instruments with offsetting market or counterparty credit risks and the concept of valuation premise (i.e., in-use or in exchange) and highest and best use, extends the prohibition on blockage factors to all three levels of the fair value hierarchy, and requires additional disclosures. The new standard is effective for us for interim and annual periods beginning on January 1, 2012. If different fair value measurements result from applying the new standard, we will recognize the difference in the period of adoption as a change in estimate. The new disclosure requirements must be applied prospectively. In the period of adoption, we will disclose any changes in valuation techniques and related inputs resulting from application of the amendments and quantify the total effect, if material. We are assessing the effect of the new standard on our consolidated statements of financial position, results of operations and cash flows. Presentation of Comprehensive Income In June 2011, the FASB issued an accounting standard update that requires the presentation of comprehensive income either in a single continuous statement of comprehensive income or in two separate but consecutive statements. In the two-statement approach, the first statement should present total net income and its components, followed consecutively by a second statement that presents total other comprehensive income and its components. This presentation is effective January 1, 2012, and is required to be applied retrospectively. Early adoption is permitted. Adoption of the new standard will have no effect on our consolidated financial statements because we already use the two-statement approach to present comprehensive income.

Restricted Cash	6 Months Ended
Restricted Cash	Jun. 30, 2011
Restricted Cash [Abstract]
Restricted Cash	C. Restricted Cash We entered into ECA facility agreements in 1999 and 2004 through subsidiaries. See Note G — Debt Financings. We had no loans outstanding under the 1999 ECA facility as of June 30, 2011. Because of our current long-term debt ratings, the 2004 ECA facility requires us to segregate security deposits, overhaul rentals and rental payments received under the leases of the aircraft funded under the 2004 ECA facility (segregated rental payments are used to make scheduled principal and interest payments on the outstanding debt). The segregated funds are deposited into separate accounts pledged to and controlled by the security trustee of the 2004 ECA facility. At June 30, 2011, we had segregated security deposits, overhaul rentals and rental payments aggregating approximately $397 million related to aircraft funded under the 2004 ECA facility. The segregated amounts fluctuate with changes in security deposits, overhaul rentals, rental payments and debt maturities related to the aircraft funded under the 2004 ECA facility. In addition, if a default resulting in an acceleration of the obligations under the 2004 ECA facility were to occur, pursuant to a cross- collateralization agreement, we would have to segregate lease payments, overhaul rentals and security deposits received after such acceleration event occurred relating to all the aircraft funded under the 1999 ECA facility, even though those aircraft are no longer subject to a loan at June 30, 2011. In March 2010, we entered into a $550 million secured term loan through a newly formed subsidiary. The proceeds from this transaction are restricted until the collateral is transferred to certain of our subsidiaries that guarantee the debt on a secured basis and whose equity were pledged to secure the term loan and at June 30, 2011, approximately $24 million of the proceeds remained restricted. The subsidiaries described above meet the definition of a VIE and have been designated as non-restricted subsidiaries, under our indentures. See Note G — Debt Financings and Note N - Variable Interest Entities.

Condensed Consolidated Balance Sheets (Unaudited) (USD $) In Thousands	Jun. 30, 2011	Dec. 31, 2010
ASSETS
Cash and cash equivalents, including interest bearing accounts of $2,126,626 (2011) and $3,058,747 (2010)	$ 2,138,483	$ 3,067,697
Restricted cash, including interest bearing accounts of $421,040 (2011) and $402,373 (2010)	421,040	457,053
Notes receivable, net of allowance, and net investment in finance and sales-type leases	86,260	132,685
Flight equipment under operating leases	51,603,074	51,646,586
Less accumulated depreciation	13,891,697	13,120,421
Flight equipment under operating leases, net	37,711,377	38,526,165
Flight equipment held for sale	5,220	255,178
Deposits on flight equipment purchases	223,700	184,410
Lease receivables and other assets	392,017	402,932
Derivative assets, net	206,904	60,150
Deferred debt issue costs, less accumulated amortization of $217,078 (2011) and $181,460 (2010)	296,609	232,576
Total assets	41,481,610	43,318,846
LIABILITIES AND SHAREHOLDERS' EQUITY
Accrued interest and other payables	660,899	689,606
Current income taxes	117,571	108,898
Secured debt financing, net of deferred debt discount of $19,901 (2011) and $22,309 (2010)	9,331,699	9,556,634
Unsecured debt financing, net of deferred debt discount of $42,977 (2011) and $47,977 (2010)	15,034,585	16,997,466
Subordinated debt	1,000,000	1,000,000
Foreign currency adjustment related to foreign currency denominated debt	281,600	165,400
Security deposits, overhaul rental and other customer deposits	1,682,140	1,620,784
Rentals received in advance	269,455	284,115
Deferred income taxes	4,712,652	4,663,939
Commitments and Contingencies - Note M
SHAREHOLDERS' EQUITY
Market Auction Preferred Stock, $100,000 per share liquidation value; Series A and B, each having 500 shares issued and outstanding	100,000	100,000
Common stock - no par value; 100,000,000 authorized shares, 45,267,723 issued and outstanding	1,053,582	1,053,582
Paid-in capital	599,133	606,367
Accumulated other comprehensive income (loss)	(38,792)	(58,944)
Retained earnings	6,677,086	6,530,999
Total shareholders' equity	8,391,009	8,232,004
Total liabilities shareholders' equity	$ 41,481,610	$ 43,318,846