Financing Receivables and Operating Lease Equipment (Tables)

12 Months Ended

Dec. 31, 2023

Financing Receivables and Operating Lease Equipment [Abstract]

Schedule of Financing Receivables and Operating Lease Equipment, Net

Financing receivables and operating lease equipment, net consisted of the following at December 31:

	2023	2022
Financing receivables:
Investment in sales-type leases	$556	$804
Notes	102	385
Total financing receivables	658	1,189
Less allowance for losses on receivables	51	55
Financing receivables, net	607	1,134
Operating lease equipment, at cost, less accumulated depreciation of $70 and $76	352	470
Total	$959	$1,604

Components of Investment in Sales Type or Finance Leases

The components of investment in sales-type leases at December 31 were as follows:

	2023	2022
Gross lease payments receivable	$697	$924
Unearned income	(162)	(206)
Net lease payments receivable	535	718
Unguaranteed residual assets	21	86
Total	$556	$804

Financing Receivable Credit Quality Indicators

Our financing receivable balances at December 31, 2023 by internal credit rating category and year of origination consisted of the following:

Rating categories	Current	2022	2021	2020	2019	Prior	Total
BBB						$13	$13
BB	$73	$32	$198	$103	$36	53	495
B					12	94	106
CCC			35			9	44
Total carrying value of financing receivables	$73	$32	$233	$103	$48	$169	$658

Schedule of Customer Financing Carrying Values Related to Major Aircraft Concentrations

The majority of our financing receivables and operating lease equipment portfolio is concentrated in the following aircraft models at December 31:

	2023	2022
717 Aircraft ($0 and $45 accounted for as operating leases)	$478	$563
747-8 Aircraft (Accounted for as sales-type leases)	129	394
737 Aircraft ($148 and $174 accounted for as operating leases)	156	186
777 Aircraft ($194 and $209 accounted for as operating leases)	194	209
MD-80 Aircraft (Accounted for as sales-type leases)		96
757 Aircraft (Accounted for as sales-type leases)		107
747-400 Aircraft (Accounted for as sales-type leases)	43	46

Scheduled Receipts on Customer Financing

As of December 31, 2023, undiscounted cash flows for notes receivable, sales-type and operating leases over the next five years and thereafter are as follows:

	Notes receivable	Sales-type leases	Operating leases
Year 1	$17	$149	$69
Year 2	9	102	61
Year 3	10	109	52
Year 4	11	127	47
Year 5	12	137	45
Thereafter	43	73	48
Total financing receipts	102	697	322
Less imputed interest		(162)
Estimated unguaranteed residual values		21
Total	$102	$556	$322