Equipment Held for Operating Lease

12 Months Ended

Dec. 31, 2017

Equipment Held for Operating Lease

Equipment Held for Operating Lease

(2) Equipment Held for Operating Lease

As of December 31, 2017, the Company had a total lease portfolio of 225 aircraft engines and related equipment, 16 aircraft and 7 other leased parts and equipment with a net book value of $1,342.6 million. As of December 31, 2016, the Company had a total lease portfolio of 208 aircraft engines and related equipment, 11 aircraft and 5 other leased parts and equipment, with a net book value of $1,136.6 million.

A majority of the equipment is leased and operated internationally. Substantially all leases relating to this equipment are denominated and payable in U.S. dollars.

The Company leasees equipment to lessees domiciled in eight geographic regions. The tables below set forth geographic information about the leased 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	2017		2016		2015
	(in thousands)
Region
Europe	$	50,789	$	44,650	$	43,703
Asia		34,169		34,524		31,569
South America		11,958		11,504		9,688
United States		20,307		13,395		9,177
Mexico		5,409		6,251		6,886
Canada		4,355		4,049		2,828
Middle East		3,360		3,674		2,223
Africa		22		1,848		1,972
Totals	$	130,369	$	119,895	$	108,046

	As of December 31,
Net book value of equipment held for operating lease	2017		2016
	(in thousands)
Region
Europe	$	444,938	$	384,661
Asia		258,501		265,736
South America		111,999		112,268
United States		251,959		148,208
Mexico		34,399		55,114
Canada		28,977		35,199
Middle East		61,606		8,971
Africa		2,959		42,949
Off-lease and other		147,233		83,497
Totals	$	1,342,571	$	1,136,603

As of December 31, 2017, the lease status of the equipment held for operating lease (in thousands) was as follows:

Lease Term	Net Book Value
Off-lease and other	$	147,233
Month-to-month leases		89,795
Leases expiring 2018		528,225
Leases expiring 2019		236,080
Leases expiring 2020		158,264
Leases expiring 2021		57,268
Leases expiring 2022		33,181
Leases expiring thereafter		92,525
	$	1,342,571

As of December 31, 2017, minimum future payments under non-cancelable leases were as follows:

Year	(in thousands)
2018	$	110,666
2019		54,245
2020		31,913
2021		16,757
2022		10,652
Thereafter		13,242
	$	237,475