Net Investment in Leases, Net (Tables)

12 Months Ended

Feb. 28, 2023

Leases [Abstract]

Direct Financing Lease, Lease Income

The components of our net investment in leases at February 28, 2023 and 2022 were as follows:

	February 28,
	2023		2022
Lease receivable	$	31,674	$	52,021
Unguaranteed residual value of flight equipment	37,287		100,068
Net investment in leases	68,961		152,089
Allowance for credit losses	(1,267)		(1,764)
Net investment in leases, net	$	67,694	$	150,325

Sales-type and Direct Financing Leases, Lease Receivable, Maturity

The activity in the allowance for credit losses related to our net investment in leases for the years ended February 28, 2023 and 2022 was as follows:

	Amount
Balance at February 28, 2021	$	864
Provision for credit losses	930
Write-offs	(30)
Balance at February 28, 2022	1,764
Provision for credit losses	1,507
Write-offs	(2,004)
Balance at February 28, 2023	$	1,267

During the year ended February 28, 2023, we wrote off allowance for credit losses totaling $2.0 million related to the sale of 3 aircraft and scheduled lease expirations of 2 aircraft that were classified as net investment in leases.

As of February 28, 2023, future lease payments on net investment in leases are as follows:

Year Ending February 28/29,	Amount
2024	$	5,901
2025	6,912
2026	6,613
2027	6,750
2028	6,540
Thereafter	5,382
Total lease payments to be received	38,098
Present value of lease payments - lease receivable	(31,674)
Difference between undiscounted lease payments and lease receivable	$	6,424