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

Net Investment In Finance And Sales-type Leases

v3.6.0.2
Net Investment In Finance And Sales-type Leases
12 Months Ended
Dec. 31, 2016
Net Investment In Finance And Sales-type Leases [Abstract]  
Net Investment In Finance And Sales-type Leases

7.  Net investment in finance and sales-type leases

Components of net investment in finance and sales-type leases as of December 31, 2016 and 2015 were as follows:





 

 

 

 

 



 

 

 

 

 



As of December 31,



2016

 

2015

Future minimum lease payments to be received

$

708,934 

 

$

533,879 

Estimated residual values of leased flight equipment (unguaranteed)

 

321,739 

 

 

164,123 

Less: Unearned income

 

(274,791)

 

 

(228,804)



$

755,882 

 

$

469,198 

Less: Allowance for credit losses

 

 —

(a)

 

 —



$

755,882 

 

$

469,198 

                    

(a)

During the year ended December 31, 2016, we recognized a direct write-off for credit losses on four finance leases of $11.1 million, which was recorded in leasing expenses in our Consolidated Income Statement.

As of December 31, 2016, future minimum lease payments to be received on finance and sales-type leases were as follows:





 

 



 

Future minimum lease payments to be received

2017

$

137,388 

2018

 

120,216 

2019

 

106,209 

2020

 

82,116 

2021

 

67,271 

Thereafter

 

195,734 



$

708,934