Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Net investment in finance and sales-type leases

v3.19.3.a.u2
Net investment in finance and sales-type leases
12 Months Ended
Dec. 31, 2019
Flight Equipment, Net [Abstract]  
Net investment in finance and sales-type leases Net investment in finance and sales-type leases
Components of net investment in finance and sales-type leases as of December 31, 2019 and 2018 were as follows:
 
As of December 31,
 
2019
 
2018
Future minimum lease payments to be received
$
715,085

 
$
792,265

Estimated residual values of leased flight equipment
577,353

 
528,916

Less: Unearned income
(280,889
)
 
(317,895
)
 
$
1,011,549

 
$
1,003,286


As of December 31, 2019, the cash flows receivable, including the estimated residual value at lease termination, from finance and sales-type leases were as follows:
 
Cash flows receivable
2020
$
154,323

2021
131,054

2022
202,302

2023
135,388

2024
109,098

Thereafter
560,273

Undiscounted cash flows receivable
$
1,292,438

Less: Unearned income
(280,889
)
 
1,011,549



During the year ended December 31, 2019, we recognized impairment charges of $22.0 million related to our finance and sales-type leases where we do not expect to recover the finance lease balances. Impairment charges on our finance and sales-type leases are included in leasing expenses in the Consolidated Income Statement.