XML 51 R22.htm IDEA: XBRL DOCUMENT v3.22.0.1
Net Investment in Sales-type Lease
 12 Months Ended
Dec. 31, 2021
Leases [Abstract]  
Net Investment in Sales-type Lease Net Investment in Sales-type Lease
During the year ended December 31, 2021, the Company entered into an agreement to lease ten A320 aircraft to an airline with terms that meet the criteria of being classified as a sales-type lease. As of December 31, 2021, one A320-200 aircraft was delivered with a remaining lease term of 10.2 years.

Net investment in sales-type lease was included in Other assets in our Consolidated Balance Sheets based on the present value of fixed payments under the contract and the residual value of the underlying asset, discounted at the rate implicit in the lease. The Company’s investment in sales-type lease consisted of the following:

December 31, 2021
Future minimum lease payments to be received$24,805 
Estimated residual values of leased flight equipment9,169 
Less: Unearned income(5,545)
Investment in Sales-type Lease$28,429 

As of December 31, 2021, future minimum lease payments to be received on sales-type lease were as follows:

(in thousands)
Years ending December 31,
2022$2,255 
20232,460 
20242,460 
20252,460 
20262,460 
Thereafter12,710 
Total$24,805