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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

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- 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

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- 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

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