Lease Rental Revenues and Flight Equipment Held for Lease

9 Months Ended

Sep. 30, 2016

Leases [Abstract]

Operating Leases of Lessor Disclosure [Text Block]

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 September 30, 2016 were as follows:

Year Ending December 31,	Amount
Remainder of 2016	$	180,010
2017	676,274
2018	613,221
2019	523,645
2020	435,969
Thereafter	1,290,828
Total	$	3,719,947

Geographic concentration of lease rental revenue earned from flight equipment held for lease was as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
Region	2016		2015		2016		2015
Asia and Pacific	40	%	43	%	40	%	42	%
Europe	22	%	28	%	23	%	28	%
South America	19	%	16	%	19	%	15	%
Middle East and Africa	12	%	9	%	12	%	9	%
North America	7	%	4	%	6	%	6	%
Total	100	%	100	%	100	%	100	%

The classification of regions in the tables above and in the table and discussion below is determined based on the principal location of the lessee of each aircraft.

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:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2016		2015		2016		2015
	Number of Lessees	Combined % of Lease Rental Revenue	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	4	25%	2	12%	4	25%	3	17%

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:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2016			2015			2016			2015
Country	Revenue		% of Total Revenue	Revenue		% of Total Revenue	Revenue		% of Total Revenue	Revenue		% of Total Revenue
Indonesia(1)	$	21,745	11%	$	—	—%	$	61,195	11%	$	—	—%

_______________

(1) Total revenue attributable to Indonesia was less than 10% for the three and nine months ended September 30, 2015.

Geographic concentration of net book value of flight equipment (includes net book value of flight equipment held for lease and net investment in finance and sales-type leases) was as follows:

	September 30, 2016				December 31, 2015
Region	Number of Aircraft		Net Book Value %		Number of Aircraft		Net Book Value %
Asia and Pacific	55		39	%	49		39	%
Europe	57		22	%	64		26	%
South America	23		19	%	22		19	%
Middle East and Africa	14		11	%	9		10	%
North America	24		8	%	17		6	%
Off-lease	2	(1)	1	%	1	(2)	—	%
Total	175		100	%	162		100	%

_______________

(1) Consisted of two Boeing 737-800 aircraft delivered to a customer in China in October 2016.

(2) Consisted of one Boeing 777-200ER aircraft sold during the second quarter of 2016.

The following table sets forth net book value of flight equipment (includes net book value of flight equipment held for lease and net investment in finance and sales-type leases) attributable to individual countries representing at least 10% of net book value of flight equipment based on each lessee’s principal place of business as of:

	September 30, 2016				December 31, 2015
Region	Net Book Value		Net Book Value %	Number of Lessees	Net Book Value		Net Book Value %	Number of Lessees
Indonesia	$	721,704	12%	3	$	661,178	11%	3

At September 30, 2016 and December 31, 2015, the amounts of lease incentive liabilities recorded in maintenance payments on our Consolidated Balance Sheets were $15,629 and $21,432, respectively.