v3.25.4

Other intangibles, net | 12 Months Ended
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Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
Other intangibles, net | Maintenance rights and lease premium, net Maintenance rights and lease premium, net consisted of the following as of December 31, 2025 and 2024:
| As of December 31,
| 2025 |  | 2024
Maintenance rights | $ | 1,336,440 |  |  | $ | 1,669,742 |
Lease premium, net | 340,967 |  |  | 460,251 |
| $ | 1,677,407 |  |  | $ | 2,129,993 |
Movements in maintenance rights during the years ended December 31, 2025 and 2024 were as follows:
| Year Ended December 31,
| 2025 |  | 2024
Maintenance rights at beginning of period | $ | 1,669,742 |  |  | $ | 2,099,513 |
EOL and MR contract maintenance rights expense | (71,103) |  |  | (144,726) |
MR contract maintenance rights write-off due to maintenance liability release | (19,544) |  |  | (38,525) |
EOL contract maintenance rights write-off due to cash receipt | (67,412) |  |  | (159,682) |
EOL and MR contract maintenance rights write-off due to sale of aircraft | (175,243) |  |  | (86,838) |
Maintenance rights at end of period | $ | 1,336,440 |  |  | $ | 1,669,742 |
The following tables present details of lease premium assets and related accumulated amortization as of December 31, 2025 and 2024:
| As of December 31, 2025
| Gross carrying amount |  | Accumulated amortization |  | Net carrying amount
Lease premium | $ | 790,042 |  |  | $ | (449,075) |  |  | $ | 340,967 |
| As of December 31, 2024
| Gross carrying amount |  | Accumulated amortization |  | Net carrying amount
Lease premium | $ | 907,995 |  |  | $ | (447,744) |  |  | $ | 460,251 |
Lease premium assets that are fully amortized are removed from the gross carrying amount and accumulated amortization columns in the tables above. The weighted average amortization period remaining for lease premium is 4.1 years. During the years ended December 31, 2025, 2024 and 2023, we recorded amortization expense for lease premium assets of $115 million, $161 million and $178 million, respectively. As of December 31, 2025, the estimated future amortization expense for lease premium assets was as follows:
| Estimated amortization expense
2026 | $ | 103,099 |
2027 | 86,966 |
2028 | 72,877 |
2029 | 37,128 |
2030 | 25,740 |
Thereafter | 15,157 |
| $ | 340,967 |
Other intangibles, net Other intangibles consisted of the following as of December 31, 2025 and 2024:
|  | As of December 31,
|  | 2025 |  | 2024
Customer relationships, net |  | $ | 113,706 |  |  | $ | 134,883 |
Other intangible assets |  | 4,083 |  |  | 4,783 |
|  | $ | 117,789 |  |  | $ | 139,666 |
The following tables present details of customer relationships and related accumulated amortization as of December 31, 2025 and 2024:
| As of December 31, 2025
| Gross carrying amount |  | Accumulated amortization |  | Net carrying amount
Customer relationships | $ | 360,000 |  |  | $ | (246,294) |  |  | $ | 113,706 |
| As of December 31, 2024
| Gross carrying amount |  | Accumulated amortization |  | Net carrying amount
Customer relationships | $ | 360,000 |  |  | $ | (225,117) |  |  | $ | 134,883 |
During the years ended December 31, 2025, 2024 and 2023, we recorded annual amortization expense for customer relationships of $21 million. The weighted average amortization period remaining for customer relationships is 5.4 years. As of December 31, 2025, the estimated future amortization expense for customer relationships for the next five years is $21 million per year and $8 million thereafter.

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