Equipment Held for Lease

12 Months Ended

Dec. 31, 2013

Equipment Held for Lease

Equipment Held for Lease

(2) Equipment Held for Lease

At December 31, 2013, we had 202 aircraft engines and related equipment with a cost of $1,259.6 million, 5 spare parts packages with a cost of $6.1 million and 4 aircraft with a cost of $23.5 million, in our lease portfolio. At December 31, 2012, we had 184 aircraft engines and related equipment with a cost of $1,156.7 million, 4 spare parts packages with a cost of $5.9 million and 7 aircraft with a cost of $37.2 million, in our lease portfolio.

A majority of our aircraft equipment is leased and operated internationally. All leases relating to this equipment are denominated and payable in U.S. dollars.

We lease our aircraft equipment to lessees domiciled in eight geographic regions. The tables below set forth geographic information about our leased aircraft equipment grouped by domicile of the lessee (which is not necessarily indicative of the asset’s actual location):

	Years Ended December 31,
Lease rent revenue	2013		2012		2011
	(in thousands)
Region
United States	$	14,258	$	11,693	$	20,790
Mexico	7,387		6,075		6,806
Canada	2,947		5,206		3,183
Europe	37,788		35,001		38,626
South America	8,794		9,196		9,818
Asia	21,407		18,585		18,635
Africa	2,609		2,307		2,084
Middle East	6,547		6,528		4,721
Totals	$	101,737	$	94,591	$	104,663

	Years Ended December 31,
Lease rent revenue less applicable depreciation and interest	2013			2012			2011
	(in thousands)
Region
United States	$	6,055		$	5,875		$	9,663
Mexico	1,641			2,472			3,609
Canada	747			3,015			1,731
Europe	5,061			11,162			13,844
South America	2,995			4,482			5,266
Asia	5,652			6,212			7,162
Africa	837			746			1,180
Middle East	1,664			3,011			1,727
Off-lease and other	(13,973		)	(15,130		)	(10,539		)
Totals	$	10,679		$	21,845		$	33,643

	Years Ended December 31,
Net book value of equipment held for operating lease	2013		2012		2011
	(in thousands)
Region
United States	$	103,515	$	68,845	$	128,989
Mexico	75,628		59,694		66,317
Canada	12,500		17,658		30,987
Europe	368,381		299,505		305,154
South America	78,486		87,660		86,301
Asia	219,123		229,946		159,022
Africa	3,734		5,280		11,844
Middle East	58,509		74,644		49,208
Off-lease and other	113,146		118,227		143,683
Totals	$	1,033,022	$	961,459	$	981,505

As of December 31, 2013 and 2012, the lease status of the equipment held for operating lease was as follows:

Lease Term	December 31, 2013 Net Book Value
	(in thousands)
Off-lease and other	$	113,146
Month-to-month leases	102,721
Leases expiring 2014	370,370
Leases expiring 2015	124,130
Leases expiring 2016	100,622
Leases expiring 2017	63,969
Leases expiring 2018	47,604
Leases expiring thereafter	110,460
	$	1,033,022

Lease Term	December 31, 2012 Net Book Value
	(in thousands)
Off-lease and other	$	118,227
Month-to-month leases	149,585
Leases expiring 2013	339,598
Leases expiring 2014	76,485
Leases expiring 2015	43,243
Leases expiring 2016	79,600
Leases expiring 2017	58,583
Leases expiring thereafter	96,138
	$	961,459

As of December 31, 2013, minimum future payments under non-cancelable leases were as follows:

Year	(in thousands)
2014	$	68,226
2015	42,956
2016	30,037
2017	20,878
2018	15,479
Thereafter	26,663
	$	204,239