Equipment Held for Operating Lease and Notes Receivable

6 Months Ended

Jun. 30, 2022

Equipment Held for Operating Lease and Notes Receivable

As of June 30, 2022, the Company had $1,957.6 million equipment held in our operating lease portfolio, $83.3 million notes receivable, and $7.0 million investment in sales-type leases, which represented 293 engines, twelve aircraft, one marine vessel and other leased parts and equipment. As of December 31, 2021, the Company had $1,991.4 million equipment held in our operating lease portfolio and $115.5 million notes receivable which represented 304 engines, twelve aircraft, one marine vessel and other leased parts and equipment.

The following table disaggregates equipment held for operating lease by asset class (in thousands):


	June 30, 2022						December 31, 2021
	Gross Value		Accumulated Depreciation		Net Book Value		Gross Value		Accumulated Depreciation		Net Book Value
Engines and related equipment	$	2,323,147	$	(506,318)	$	1,816,829	$	2,368,496	$	(515,442)	$	1,853,054
Aircraft and airframes	139,270		(9,830)		129,440		134,370		(7,790)		126,580
Marine vessel	13,470		(2,101)		11,369		13,470		(1,736)		11,734
	$	2,475,887	$	(518,249)	$	1,957,638	$	2,516,336	$	(524,968)	$	1,991,368

Notes Receivable

During the three months ended June 30, 2022 and 2021, the Company recorded interest income related to the notes receivable of $1.9 million and $3.6 million, respectively, and $4.0 million and $6.5 million during the six months ended June 30, 2022 and 2021, respectively, and is presented within Other revenue. The effective interest rates on our notes receivable ranged from 7.1% to 12.2% as of June 30, 2022 and 6.3% to 12.2% as of June 30, 2021.