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FINANCE LEASES, NET
 12 Months Ended
Dec. 31, 2021
Leases [Abstract]  
FINANCE LEASES, NET FINANCE LEASES, NET
Finance leases, net are summarized as follows:
December 31,
20212020
Finance leases$8,358 $9,389 
Unearned revenue(775)(2,462)
Finance leases, net$7,583 $6,927 

During the year ended December 31, 2021, we entered into 52-month sales-type lease arrangements for five airframes. During the fourth quarter of 2021, one of our lessees exercised its option to purchase the aircraft for an amount equal to the remaining principal balance plus unpaid accrued interest per the terms of the agreement.
Additionally, during 2019, we received insurance proceeds for a vessel which was on nonaccrual status due to a casualty event. The insurance proceeds were in excess of the book value of the finance lease, which was written down to zero, and we recognized a gain of approximately $1.0 million which is included in Other income in the Consolidated Statements of Operations.