Equipment Held for Operating Lease

12 Months Ended

Dec. 31, 2015

Equipment Held for Operating Lease [Abstract]

Equipment Held for Lease

(2) Equipment Held for Operating Lease

At December 31, 2015, we had 201 aircraft engines and related equipment with a cost of $1,310.7 million, 5 spare parts packages with a cost of $5.2 million and 10 aircraft with a cost of $123.5 million, in our lease portfolio. At December 31, 2014, we had 207 aircraft engines and related equipment with a cost of $1,303.3 million, 5 aircraft with a cost of $38.1 million and 5 spare parts packages with a cost of $6.1 million in our lease portfolio.

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

We lease our equipment to lessees domiciled in eight geographic regions. The tables below set forth geographic information about our leased 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	2015		2014		2013
	(in thousands)
Region
Europe	$	43,577	$	37,990	$	37,788
Asia		31,534		21,796		21,407
South America		9,688		9,907		8,794
United States		9,177		11,880		14,258
Mexico		6,906		7,771		7,387
Canada		2,789		4,997		2,947
Middle East		2,223		4,143		6,547
Africa		1,972		3,264		2,609
Totals	$	107,866	$	101,748	$	101,737

	Years Ended December 31,
Lease rent revenue less applicable depreciation and interest	2015		2014		2013
	(in thousands)
Region
United States	$	634	$	2,577	$	6,055
Mexico		2,310		2,157		1,641
Canada		(123)		(100)		747
Europe		11,074		6,988		5,061
South America		1,929		3,503		2,995
Asia		8,867		5,891		5,652
Africa		206		1,041		837
Middle East		474		1,277		1,664
Off-lease and other		(19,713)		(19,525)		(13,973)
Totals	$	5,658	$	3,809	$	10,679

	Years Ended December 31,
Net book value of equipment held for operating lease	2015		2014		2013
	(in thousands)
Region
United States	$	103,492	$	61,521	$	103,515
Mexico		42,246		64,770		75,628
Canada		18,893		11,026		12,500
Europe		389,721		344,833		368,381
South America		112,718		107,080		78,486
Asia		310,292		232,448		219,123
Africa		9,612		12,063		3,734
Middle East		18,937		17,125		58,509
Off-lease and other		116,948		215,582		113,146
Totals	$	1,122,859	$	1,066,448	$	1,033,022

As of December 31, 2015 and 2014, the lease status of the equipment held for operating lease was as follows:

	December 31, 2015
Lease Term	Net Book Value
	(in thousands)
Off-lease and other	$	116,948
Month-to-month leases		90,173
Leases expiring 2016		434,658
Leases expiring 2017		113,879
Leases expiring 2018		87,916
Leases expiring 2019		60,022
Leases expiring 2020		88,634
Leases expiring thereafter		130,629
	$	1,122,859

	December 31, 2014
Lease Term	Net Book Value
	(in thousands)
Off-lease and other	$	215,582
Month-to-month leases		97,951
Leases expiring 2015		331,757
Leases expiring 2016		151,444
Leases expiring 2017		73,387
Leases expiring 2018		62,972
Leases expiring 2019		24,001
Leases expiring thereafter		109,354
	$	1,066,448

As of December 31, 2015, minimum future payments under non-cancelable leases were as follows:

Year	(in thousands)
2016	$	74,133
2017		47,513
2018		35,467
2019		27,434
2020		21,914
Thereafter		24,689
	$	231,150