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Lease Rental Revenues and Flight Equipment Held for Lease (Tables)

3 Months Ended

Mar. 31, 2020

Annual future minimum lease rentals receivable

Minimum future annual lease rentals contracted to be received under our existing operating leases of flight equipment at March 31, 2020 were as follows:



Year Ending December 31,	Amount
Remainder of 2020	$	551,433
2021	672,070
2022	592,544
2023	512,637
2024	401,032
Thereafter	476,472
Total	$	3,206,188

As of March 31, 2020, Aircastle is obligated under non-cancelable operating leases relating principally to office facilities in Stamford, Connecticut; Dublin, Ireland; and Singapore for future minimum lease payments as follows:



Year Ending December 31,	Amount
Remainder of 2020	$	1,386
2021	1,883
2022	1,799
2023	1,693
2024	1,724
Thereafter	6,107
Total	$	14,592

Geographic concentration of lease rental revenue earnings

Geographic concentration of lease rental revenue earned from flight equipment held for lease was as follows:



	Three Months Ended March 31,
Region	2020		2019
Asia and Pacific	42	%	42	%
Europe	25	%	28	%
Middle East and Africa	10	%	11	%
North America	10	%	8	%
South America	13	%	11	%

Total	100	%	100	%

Schedule of Revenue by Major Customers by Reporting Segments [Table Text Block]

The following table shows the number of lessees with lease rental revenue of at least 5% of total lease rental revenue and their combined total percentage of lease rental revenue for the periods indicated:



	Three Months Ended March 31,
	2020		2019
	Number of Lessees	Combined % of Lease Rental Revenue	Number of Lessees	Combined % of Lease Rental Revenue
Largest lessees by lease rental revenue	3	20%	4	27%

Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block]



	Three Months Ended March 31,
	2020		2019
	Number of Lessees	Combined % of Lease Rental Revenue	Number of Lessees	Combined % of Lease Rental Revenue
Largest lessees by lease rental revenue	3	20%	4	27%

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 for the periods indicated:



	Three Months Ended March 31,
	2020				2019
Country	Revenue		% of Total Revenue		Revenue		% of Total Revenue
Indonesia⁽¹⁾	$	30,113	11	%	$	—	—	%
South Africa⁽²⁾	57,336		20	%	—		—	%

_______________


(1)	For the three months ended March 31, 2020, total revenue attributable to Indonesia includes $14,987 from gain on sale of flight equipment related to the sale of aircraft. For the three months ended March 31, 2019, total revenue attributable to Indonesia was less than 10%.

(2)

For the three months ended March 31, 2020, total revenue attributable to South Africa included $38,804 of maintenance revenue, $5,863 of lease rentals received in advance and $8,740 of security deposits taken into revenue as a result of the South African Airways Transaction - see Note 2. For the three months ended March 31, 2019, total revenue attributable to South Africa was less than 10%.

Geographic concentration of net book value of flight equipment held for lease

Geographic concentration of net book value of flight equipment (including flight equipment held for lease and net investment in leases, or “net book value”) was as follows:



	March 31, 2020				December 31, 2019
Region	Number of Aircraft		Net Book Value %		Number of Aircraft		Net Book Value %
Asia and Pacific	89		37	%	94		38	%
Europe	100		27	%	99		26	%
Middle East and Africa	14		6	%	16		7	%
North America	40		13	%	40		13	%
South America	26		15	%	26		15	%
Off-lease	5	⁽¹⁾	2	%	3	⁽²⁾	1	%
Total	274		100	%	278		100	%

_______________


(1)	Consisted of one Airbus A320-200 and one Airbus A330-200 aircraft, which are each scheduled to be delivered during the second quarter of 2020 to lessees in North America and Europe, respectively, and one Airbus A330-200 and two Boeing 737-800 aircraft, which we are marketing for lease or sale.

(2)

Consisted of one Airbus A320-200 aircraft, which was delivered on lease to a customer in Europe during the first quarter of 2020, one Airbus A330-200 aircraft, which is scheduled to be delivered to a customer in Europe in the second quarter of 2020, and one Boeing 737-800 aircraft, which was sold during the first quarter of 2020.

Schedule of Disclosure on Geographic Areas, Long-Lived Assets in Individual Foreign Countries by Country [Table Text Block]

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 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:



	March 31, 2020				December 31, 2019
Country	Net Book Value		Net Book Value %	Number of Lessees	Net Book Value		Net Book Value %	Number of Lessees
India	$	914,581	12%	4	$	924,190	12%	4