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Lease Rental Revenues and Flight Equipment Held for Lease
 6 Months Ended
Jun. 30, 2013
Leases [Abstract]  
Lease Rental Revenues and Flight Equipment Held for Lease
Lease Rental Revenues and Flight Equipment Held for Lease
Minimum future annual lease rentals contracted to be received under our existing operating leases of flight equipment at June 30, 2013 were as follows:
Year Ending December 31,
Amount
Remainder of 2013
$
304,952

2014
540,102

2015
471,363

2016
405,656

2017
289,137

Thereafter
750,651

Total
$
2,761,861


Geographic concentration of lease rental revenue earned from flight equipment held for lease was as follows:
 
Three Months Ended June 30,
 
Six Months Ended June 30,
Region
2012
 
2013
 
2012
 
2013
Europe
40
%
 
33
%
 
41
%
 
33
%
Asia and Pacific
30
%
 
38
%
 
29
%
 
38
%
North America
12
%
 
9
%
 
12
%
 
9
%
Latin America
7
%
 
9
%
 
7
%
 
9
%
Middle East and Africa
11
%
 
11
%
 
11
%
 
11
%
Total
100
%
 
100
%
 
100
%
 
100
%

The classification of regions in the tables above and in the table and discussion below is determined based on the principal location of the lessee of each aircraft.
For the three months ended June 30, 2012, one customer accounted for 10% of lease rental revenue and four additional customers accounted for a combined 26% of lease rental revenue. No other customer accounted for more than 5% of lease rental revenue. For the three months ended June 30, 2013, one customer accounted for 8% of lease rental revenue and four additional customers accounted for a combined 23% of lease rental revenue. No other customer accounted for more than 5% of lease rental revenue.
For the six months ended June 30, 2012, one customer accounted for 10% of lease rental revenue and four additional customers accounted for a combined 26% of lease rental revenue. No other customer accounted for more than 5% of lease rental revenue. For the six months ended June 30, 2013, one customer accounted for 8% of lease rental revenue and four additional customers accounted for a combined 23% of lease rental revenue. No other customer accounted for more than 5% of lease rental revenue.
The following table sets forth revenue attributable to individual countries representing at least 10% of total revenue (including maintenance revenue) based on each lessee’s principal place of business:
 
Three Months Ended June 30,
 
2012
 
2013
Country
Revenue
 
Percent of
Total
Revenue
 
Number
of
Lessees
 
Revenue
 
Percent of
Total
Revenue
 
Number
of
Lessees
China
$
18,638

 
11
%
 
4

 
$
17,610

 
10
%
 
4

Russia(1)
17,376

 
10
%
 
8

 
—

 
—
%
 
—

Denmark(1)(2)
16,523

 
10
%
 
2

 
—

 
—
%
 
—


            
(1) Total revenue was less than 10% for the three months ended June 30, 2013.
(2) Total revenue attributable to Denmark for the three months ended June 30, 2012 includes $7,656 of maintenance revenue.

 
Six Months Ended June 30,
 
2012
 
2013
Country
Revenue
 
Percent of
Total
Revenue
 
Number
of
Lessees
 
Revenue
 
Percent of
Total
Revenue
 
Number
of
Lessees
China
$
36,857

 
11
%
 
4

 
$
36,913

 
11
%
 
4

United States
43,681

 
13
%
 
6

 
33,002

 
10
%
 
7

Russia(1)
32,807

 
10
%
 
8

 
—

 
—
%
 
—

_______________
(1) Total revenue was less than 10% for the six months ended June 30, 2013.

Geographic concentration of net book value of flight equipment (includes net book value of flight equipment held for lease, net investment in finance leases and flight equipment held for sale) was as follows:
 
December 31, 2012
 
June 30, 2013
Region
Number
of
Aircraft
 
Net Book
Value %
 
Number
of
Aircraft
 
Net Book
Value %
Europe
68

 
35
%
 
69

 
36
%
Asia and Pacific
50

 
34
%
 
50

 
34
%
North America
17

 
10
%
 
18

 
10
%
Latin America
14

 
8
%
 
14

 
8
%
Middle East and Africa
8

 
12
%
 
7

 
12
%
Off-lease
2

(1) 
1
%
 
—


—
%
Total
159

 
100
%
 
158

 
100
%
 
_______________

(1)
Includes one Boeing 767-300ER that was sold in the first quarter of 2013 and one Boeing 747-400BDSF aircraft which was delivered to a lessee in the second quarter of 2013.

The following table sets forth net book value of flight equipment (includes net book value of flight equipment held for lease and net investment in finance leases) attributable to individual countries representing at least 10% of net book value of flight equipment based on each lessee’s principal place of business as of:
 
December 31, 2012
 
June 30, 2013
Country
Net Book
Value
 
Net Book
Value %
 
Number of
Lessees
 
Net Book
Value
 
Net Book
Value %
 
Number of
Lessees
China(1)
$
515,194

 
11
%
 
4

 
$
—

 
—
%
 
—


_______________
(1) The net book value of flight equipment was less than 10% as of June 30, 2013.

 At December 31, 2012 and June 30, 2013, the amounts of lease incentive liabilities recorded in maintenance payments on the consolidated balance sheets were $15,587 and $19,896, respectively.