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Net Investment in Sales-type Lease
 3 Months Ended
Mar. 31, 2022
Leases [Abstract]  
Net Investment in Sales-type Lease Net Investment in Sales-type Leases
As of March 31, 2022, the Company had four A320-200 aircraft on lease to an airline with terms that meet the criteria of being classified as a sales-type lease.

Net investment in sales-type leases was included in Other assets in the Company’s 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 leases consisted of the following (in thousands):

March 31, 2022
Future minimum lease payments to be received$98,810 
Estimated residual values of leased flight equipment36,675 
Less: Unearned income(22,782)
Net Investment in Sales-type Leases$112,703 

As of March 31, 2022, future minimum lease payments to be received on sales-type leases were as follows:

(in thousands)
Years ending December 31,
2022 (excluding the three months ended March 31, 2022)$6,970 
20239,840 
20249,840 
20259,840 
20269,840 
Thereafter52,480 
Total$98,810