Equipment Held for Lease

12 Months Ended

Dec. 31, 2012

Equipment Held for Lease

Equipment Held for Lease

(2) Equipment Held for Lease

At December 31, 2012, we had 184 aircraft engines and related equipment with a cost of $1,156.7 million, 4 spare parts packages with a cost of $5.9 million and 7 aircraft with a cost of $37.2 million, in our lease portfolio. At December 31, 2011, we had 194 aircraft engines and related equipment with a cost of $1,171.4 million, 3 spare parts packages with a cost of $5.1 million and 13 aircraft with a cost of $30.7 million, in our lease portfolio.

A majority of our aircraft equipment is leased and operated internationally. All leases relating to this equipment are denominated and payable in U.S. dollars.

We lease our aircraft equipment to lessees domiciled in eight geographic regions. The tables below set forth geographic information about our leased aircraft equipment grouped by domicile of the lessee (which is not necessarily indicative of the asset’s actual location):

	Years Ended December 31,
Lease rent revenue	2012		2011		2010
	(in thousands)
Region
United States	$	11,693	$	20,790	$	22,662
Mexico	6,075		6,806		6,367
Canada	5,206		3,183		1,662
Europe	35,001		38,626		32,604
South America	9,196		9,818		14,380
Asia	18,585		18,635		18,413
Africa	2,307		2,084		432
Middle East	6,528		4,721		5,613
Totals	$	94,591	$	104,663	$	102,133

	Years Ended December 31,
Lease rent revenue less applicable depreciation and interest	2012			2011			2010
	(in thousands)
Region
United States	$	5,875		$	9,663		$	11,371
Mexico	2,472			3,609			3,686
Canada	3,015			1,731			957
Europe	11,162			13,844			13,313
South America	4,482			5,266			6,812
Asia	6,212			7,162			7,014
Africa	746			1,180			246
Middle East	3,011			1,727			2,859
Off-lease and other	(15,130		)	(10,539		)	(9,923		)
Totals	$	21,845		$	33,643		$	36,335

	Years Ended December 31,
Net book value of equipment held for operating lease	2012		2011		2010
	(in thousands)
Region
United States	$	68,845	$	128,989	$	170,742
Mexico	59,694		66,317		59,869
Canada	17,658		30,987		14,786
Europe	299,505		305,154		345,256
South America	87,660		86,301		84,238
Asia	229,946		159,022		180,936
Africa	5,280		11,844		12,268
Middle East	74,644		49,208		46,791
Off-lease and other	118,227		143,683		83,115
Totals	$	961,459	$	981,505	$	998,001

As of December 31, 2012 and 2011, the lease status of the equipment held for operating lease was as follows:

Lease Term	December 31, 2012 Net Book Value
	(in thousands)
Off-lease and other	$	118,227
Month-to-month leases	149,585
Leases expiring 2013	339,598
Leases expiring 2014	76,485
Leases expiring 2015	43,243
Leases expiring 2016	79,600
Leases expiring 2017	58,583
Leases expiring thereafter	96,138
	$	961,459

Lease Term	December 31, 2011 Net Book Value
	(in thousands)
Off-lease and other	$	143,683
Month-to-month leases	151,828
Leases expiring 2012	301,385
Leases expiring 2013	84,393
Leases expiring 2014	49,149
Leases expiring 2015	36,571
Leases expiring 2016	75,510
Leases expiring thereafter	138,986
	$	981,505

As of December 31, 2012, minimum future payments under non-cancelable leases were as follows:

Year	(in thousands)
2013	$	56,492
2014	38,655
2015	30,436
2016	23,172
2017	14,620
Thereafter	18,133
	$	181,508