XML 29 R13.htm IDEA: XBRL DOCUMENT v3.3.1.900
Lease Rental Revenues and Flight Equipment Held for Lease
 12 Months Ended
Dec. 31, 2015
Leases [Abstract]  
Lease Rental Revenues and Flight Equipment Held for Lease
Lease Rental Revenues and Flight Equipment Held for Lease
Minimum future annual lease rentals contracted to be received under our existing operating leases of flight equipment at December 31, 2015 were as follows:
Year Ending December 31,
Amount
2016
$
706,122

2017
625,842

2018
553,790

2019
484,976

2020
414,926

Thereafter
1,173,535

Total
$
3,959,191


The classification of regions in the tables below is determined based on the principal location of the lessee of each aircraft.
Geographic concentration of lease rental revenue earned from flight equipment held for lease was as follows:
 
Year Ended December 31,
Region
2015
 
2014
 
2013
Europe
28
%
 
29
%
 
33
%
Asia and Pacific
42
%
 
40
%
 
38
%
North America
5
%
 
9
%
 
10
%
Middle East and Africa
9
%
 
9
%
 
10
%
South America
16
%
 
13
%
 
9
%
Total
100
%
 
100
%
 
100
%





The following table shows the number of lessees with lease rental revenue of at least 5% and their combined total percentage of lease rental revenue for the years indicated:
Year Ending December 31,
2015
 
2014
 
2013
 
Number of Lessees
 
Combined % of
Lease Rental Revenue
 
Number of Lessees
 
Combined % of
Lease Rental Revenue
 
Number of Lessees
 
Combined % of
Lease Rental Revenue
Largest lessees by lease rental revenue
3
 
17.00
%
 
3
 
17.00
%
 
4
 
24.00
%

The following table sets forth revenue attributable to individual countries representing at least 10% of total revenue (including maintenance revenue) in any year based on each lessee’s principal place of business for the years indicated:
Year Ending December 31,
2015
 
2014
 
2013
Country
Revenue
 
% of
Total
Revenue
 
Revenue
 
% of
Total
Revenue
 
Revenue
 
% of
Total
Revenue
Russia(1)
$
—

 
—
%
 
$
86,512

 
11
%
 
$
—

 
—
%
United States(2)
—

 
—
%
 
—

 
—
%
 
74,274

 
10
%

 ______________

(1)
Total revenue attributable to Russia was less than 10% for the twelve months ended December 31, 2015 and 2013. For the twelve months ended December 31, 2014, includes $29,867 of maintenance revenue related to early lease terminations.
(2)
Total revenue attributable to the United States was less than 10% for the twelve months ended December 31, 2015 and 2014.

Geographic concentration of net book value of flight equipment held for lease was as follows:
 
December 31, 2015
 
December 31, 2014
Region
Number of
Aircraft
 
Net Book
Value %
 
Number of
Aircraft
 
Net Book
Value %
Asia and Pacific
49

 
39
%
 
46

 
40
%
Europe
64

 
26
%
 
65

 
29
%
South America
22

 
19
%
 
13

 
14
%
Middle East and Africa
9

 
10
%
 
6

 
10
%
North America
17

 
6
%
 
17

 
7
%
Off-lease
1

(1) 
—
%
 
1

(2) 
—
%
Total
162

 
100
%
 
148

 
100
%
______________

(1)
Consisted of one Boeing 777-200ER aircraft that was being marketed for lease at December 31, 2015.
(2)
Consisted of one Airbus A320-200 aircraft, which was subject to a commitment to lease and was delivered to our customer in February 2015.
At December 31, 2015, three lessees in Indonesia represented 11%, or $661,178, of net book value of flight equipment based on each lessee’s principal place of business. At December 31, 2014, no country represented at least 10% of net book value of flight equipment based on each lessee’s principal place of business.
At December 31, 2015 and 2014, the amounts of lease incentive liabilities recorded in maintenance payments on the Consolidated Balance Sheets were $21,432 and $22,833, respectively.