XML 39 R29.htm IDEA: XBRL DOCUMENT
v3.22.2.2

REVENUES (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2022
Revenue from Contract with Customer [Abstract] |
Disaggregation of Revenue | We disaggregate our revenue from contracts with customers by products and services provided for each of our segments, as we believe it best depicts the nature, amount, timing and uncertainty of our revenue. Revenues are within the scope of ASC 842, Leases and ASC 606, Revenue from contracts with customers, unless otherwise noted. We have elected to exclude sales and other similar taxes from revenues. During the three months ended September 30, 2022, we updated our corporate strategy based on the opportunities available in the market such that the sale of aircraft and engines is now an output of our recurring, ordinary activities. As a result of this update, the transaction price allocated to the sale of assets is included in Revenues in the Consolidated Statement of Operations for the three months ended September 30, 2022 and are accounted for in accordance with ASC 606. The corresponding net book values of the assets sold are recorded in Cost of sales in the Consolidated Statement of Operations for the three months ended September 30, 2022. Sales transactions of aircraft and engines prior to the three months ended September 30, 2022 were accounted for in accordance with ASC 610-20, Gains and losses from the derecognition of nonfinancial assets and were included in Gain on sale of assets, net on the Consolidated Statement of Operations, as we were previously only occasionally selling these assets. Generally, assets sold were under leasing arrangements with customers prior to sales and are included in Leasing equipment, net, on the Consolidated Balance Sheets.
|  | Three Months Ended September 30, 2022 |
|  | Aviation Leasing |  |  | Aerospace Products |  |  | Total |
Revenues |  |  |  |  |  |  |  |  |
Lease income |  | $ | 40,273 |  |  | $ | — |  |  | $ | 40,273 |
Maintenance revenue |  |  | 35,507 |  |  |  | — |  |  |  | 35,507 |
Finance lease income |  |  | 119 |  |  |  | — |  |  |  | 119 |
Asset sales revenue |  |  | 85,488 |  |  |  | — |  |  |  | 85,488 |
Aerospace products revenue |  |  | — |  |  |  | 53,401 |  |  |  | 53,401 |
Other revenue |  |  | 3,461 |  |  |  | — |  |  |  | 3,461 |
Total revenues |  | $ | 164,848 |  |  | $ | 53,401 |  |  | $ | 218,249 |
|  | Three Months Ended September 30, 2021 |
|  | Aviation Leasing |  |  | Aerospace Products |  |  | Total |
Revenues |  |  |  |  |  |  |  |  |
Lease income |  | $ | 40,392 |  |  | $ | — |  |  | $ | 40,392 |
Maintenance revenue |  |  | 40,252 |  |  |  | — |  |  |  | 40,252 |
Finance lease income |  |  | 439 |  |  |  | — |  |  |  | 439 |
Aerospace products revenue |  |  | — |  |  |  | 7,730 |  |  |  | 7,730 |
Other revenue |  |  | 5,125 |  |  |  | — |  |  |  | 5,125 |
Total revenues |  | $ | 86,208 |  |  | $ | 7,730 |  |  | $ | 93,938 |
|  | Nine Months Ended September 30, 2022 |
|  | Aviation Leasing |  |  | Aerospace Products |  |  | Total |
Revenues |  |  |  |  |  |  |  |  |
Lease income |  | $ | 111,316 |  |  | $ | — |  |  | $ | 111,316 |
Maintenance revenue |  |  | 112,171 |  |  |  | — |  |  |  | 112,171 |
Finance lease income |  |  | 332 |  |  |  | — |  |  |  | 332 |
Asset sales revenue |  |  | 85,488 |  |  |  | — |  |  |  | 85,488 |
Aerospace products revenue |  |  | — |  |  |  | 94,211 |  |  |  | 94,211 |
Other revenue |  |  | 8,687 |  |  |  | — |  |  |  | 8,687 |
Total revenues |  | $ | 317,994 |  |  | $ | 94,211 |  |  | $ | 412,205 |
|  | Nine Months Ended September 30, 2021 |
|  | Aviation Leasing |  |  | Aerospace Products |  |  | Total |
Revenues |  |  |  |  |  |  |  |  |
Lease income |  | $ | 120,389 |  |  | $ | — |  |  | $ | 120,389 |
Maintenance revenue |  |  | 87,763 |  |  |  | — |  |  |  | 87,763 |
Finance lease income |  |  | 1,285 |  |  |  | — |  |  |  | 1,285 |
Aerospace products revenue |  |  | — |  |  |  | 13,284 |  |  |  | 13,284 |
Other revenue |  |  | 5,761 |  |  |  | — |  |  |  | 5,761 |
Total revenues |  | $ | 215,198 |  |  | $ | 13,284 |  |  | $ | 228,482 |
Finance Lease, Lease Income | Presented below are the contracted minimum future annual revenues to be received under existing operating and finance leases:
|  | September 30, 2022 |
Remainder of 2022 |  | $ | 32,414 |
2023 |  |  | 104,995 |
2024 |  |  | 70,428 |
2025 |  |  | 43,890 |
2026 |  |  | 24,835 |
Thereafter |  |  | 65,820 |
Total |  | $ | 342,382 |
Operating Lease, Lease Income | Presented below are the contracted minimum future annual revenues to be received under existing operating and finance leases:
|  | September 30, 2022 |
Remainder of 2022 |  | $ | 32,414 |
2023 |  |  | 104,995 |
2024 |  |  | 70,428 |
2025 |  |  | 43,890 |
2026 |  |  | 24,835 |
Thereafter |  |  | 65,820 |
Total |  | $ | 342,382 |

X
- Definition Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 5 -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130545-203045 + Details
Name: | us-gaap_DisaggregationOfRevenueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of maturity of undiscounted cash flows to be received by lessor on annual basis for operating lease. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 30 -Section 50 -Paragraph 12 -URI https://asc.fasb.org/extlink&oid=124258985&loc=SL77919396-209981 + Details
Name: | us-gaap_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_RevenueFromContractWithCustomerAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of maturity of undiscounted cash flows to be received on annual basis for sales-type and direct financing leases receivable. Includes, but is not limited to, reconciliation to lease receivable recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 30 -Section 50 -Paragraph 10 -URI https://asc.fasb.org/extlink&oid=124258985&loc=SL77919391-209981 + Details
Name: | us-gaap_SalesTypeAndDirectFinancingLeasesLeaseReceivableMaturityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration