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.