LEASING EQUIPMENT, NET

6 Months Ended

Jun. 30, 2020

4. LEASING EQUIPMENT, NET

Leasing equipment, net is summarized as follows:




	June 30, 2020		December 31, 2019
Leasing equipment	$	2,146,948	$	2,019,773
Less: accumulated depreciation	(377,149)		(312,714)
Leasing equipment, net	$	1,769,799	$	1,707,059

During the three months ended June 30, 2020, we performed impairment analyses over certain of our leasing equipment and determined that the carrying amount of certain assets were not recoverable. To determine fair value, we used both a market approach, using quoted market prices for the same or similar assets, and an income approach, using discounted cash flows and an estimated discount rate. As a result, we adjusted the carrying value of these assets to fair value and recognized transactional impairment charges of $10.5 million, net of redelivery compensation, during the second quarter of 2020.

The following table presents information related to our acquisitions and dispositions of aviation leasing equipment during the six months ended June 30, 2020:


Acquisitions:
Aircraft			19
Engines			5
Dispositions:
Aircraft			—
Engines			3

Depreciation expense for leasing equipment is summarized as follows:


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Depreciation expense for leasing equipment	$	34,293	$	35,150	$	69,017	$	67,046