FINANCE LEASES, NET

9 Months Ended

Sep. 30, 2019

Leases [Abstract]

FINANCE LEASES, NET

FINANCE LEASES, NET

Finance leases, net are summarized as follows:

	September 30, 2019			December 31, 2018
Finance leases	$	13,138		$	28,476
Unearned revenue	(4,518		)	(9,853		)
Finance leases, net	$	8,620		$	18,623

During the nine months ended September 30, 2019, we completed the sales-type leases for three of our airframes. Additionally, we received insurance proceeds for one of our vessels which was on nonaccrual status due to a casualty event. The insurance proceeds were in excess of the book value of the finance lease, which was written down to zero, and we recognized a gain of approximately $1.0 million which is included in Other income in the Consolidated Statements of Operations.