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Concentrations
 3 Months Ended
Mar. 31, 2012
Concentrations [Abstract]  
Concentrations

Note 8 – Concentrations

A significant portion of our portfolio is concentrated among a few customers and in distinct geographic regions, particularly in the United States. Our portfolio is also concentrated by varying degrees across aircraft product types and vintages. Our concentration risk is mitigated in part by intercompany guarantees from Boeing with respect to certain portfolio assets, which primarily relate to 717 aircraft.

Portfolio carrying values for our five largest customers were as follows:

 

      March 31, 2012     December 31, 2011  
      Carrying
Value		      % of Total
Portfolio		     Carrying
Value		      % of Total
Portfolio		  

AirTran/Southwest

      $1,245         29.8 %    $ 1,261         29.2%   

Continental

      408         9.8        415         9.6     

Hawaiian

      406         9.7        374         8.7     

American

      322         7.7        350         8.1     

Korean

      155         3.8        159         3.7     
     $2,536         60.8 %    $ 2,559         59.3%   

 

  

For the three months ended March 31, 2012 and 2011, AirTran Holdings, Inc., a wholly owned subsidiary of Southwest Airlines Co., accounted for 17% and 21% of our revenue.

Portfolio carrying values were represented in the following regions:

 

      March 31, 2012     December 31, 2011  
      
 		 Carrying
Value		   
  		     
 		 % of Total
Portfolio		   
  		    
 		 Carrying
Value		   
  		     
 		 % of Total
Portfolio		   
  

United States(1)

     $3,083         73.9 %      $3,186         73.8%   

Europe

      672         16.1        693         16.1     

Asia/Australia

      228         5.5        241         5.6     

Latin America

      77         1.8        79         1.8     

Other

      114         2.7        116         2.7     
     $4,174         100.0 %      $4,315         100.0%   

 

  

 

(1)  

United States includes assets held for sale or re-lease that may be physically located in another region.

Portfolio carrying values were represented by the following product types:

 

      March 31,
2012		      December 31,
2011		  

717

    $ 1,974       $ 2,001   

757

      598         631   

737

      383         408   

MD-11

     303         311    

767

      292         316   

747

      219         225   

MD-80

      171         171   

777

      125         134   

Other(1)

     109         118   
   $ 4,174       $ 4,315   

 

  

 

(1)  

Other includes aircraft, equipment, notes and stock. Some of these aircraft are out of production, but are supported by the manufacturer or other third party parts and service providers.

 

Our aircraft portfolio by vintage, based on carrying value (excluding investments and pooled assets), are categorized as follows:

 

      March 31,
2012		     December 31,
2011		  

2007 and newer

      3.5 %      3.5%   

2002 – 2006

      45.5        45.3     

1997 – 2001

      39.3        38.8     

1996 and older

      11.7        12.4     
     100.0 %      100.0%