Equipment Held for Operating Lease and Notes Receivable

6 Months Ended

Jun. 30, 2021

Leases [Abstract]

Equipment Held for Operating Lease and Notes Receivable

Equipment Held for Operating Lease and Notes Receivable

As of June 30, 2021, the Company had $1,889.9 million equipment held for operating lease portfolio and $195.6 million notes receivable which represented 300 engines, eight aircraft, one marine vessel and other leased parts and equipment. As of December 31, 2020, the Company had $1,886.6 million equipment held for operating lease portfolio and $158.7 million notes receivable which represented 291 engines, eight aircraft, one marine vessel and other leased parts and equipment.

The following table disaggregates equipment held for operating lease by asset class (in thousands):

	June 30, 2021						December 31, 2020
	Gross Value		Accumulated Depreciation		Net Book Value		Gross Value		Accumulated Depreciation		Net Book Value
Engines and related equipment	$	2,291,301	$	(488,930)	$	1,802,371	$	2,238,160	$	(445,780)	$	1,792,380
Aircraft and airframes	82,128		(6,220)		75,908		89,613		(7,312)		82,301
Marine vessel	13,010		(1,381)		11,629		12,963		(1,031)		11,932
	$	2,386,439	$	(496,531)	$	1,889,908	$	2,340,736	$	(454,123)	$	1,886,613

Notes Receivable

During the three months ended June 30, 2021 and 2020, the Company recorded interest income related to the notes receivable of $3.6 million and $2.7 million, respectively, and $6.5 million and $3.7 million during the six months ended June 30, 2021 and 2020, respectively, and is presented within Other revenue. The effective interest rates on our notes receivable ranged from 6.3% to 12.2% as of June 30, 2021 and 6.3% to 13.7% as of June 30, 2020.