Investments in Affiliated Companies

9 Months Ended

Sep. 30, 2020

Investments in and Advances to Affiliates [Abstract]

Investments in and Advances to Affiliates, Schedule of Investments [Text Block]

Investments in Affiliated Companies

Our affiliate investments primarily include interests in each of the Rolls-Royce & Partners Finance joint ventures (collectively the “RRPF affiliates”), a group of 50% owned domestic and foreign joint ventures with Rolls-Royce plc, a leading manufacturer of commercial aircraft jet engines.

In accordance with Regulation S-X, we must assess if any of our investments in affiliated companies is a “significant subsidiary”. As of September 30, 2020, we determined that Alpha Partners Leasing Limited, which is part of the RRPF affiliates, triggered at least one of the significance tests. As a result, and in accordance with Rule 10-01(b) of Regulation S-X, the following table shows summarized unaudited financial information for Alpha Partners Leasing Limited (in millions):

	Three Months Ended September 30				Nine Months Ended September 30
	2020		2019		2020		2019
Total revenue	$	112.5	$	94.0	$	318.5	$	283.5
Total expenses	(95.9)		(75.1)		(271.0)		(227.7)
Other income, including net gains on sales of assets	10.0		6.8		48.2		33.1
Net income	21.7		20.8		77.6		72.0