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Net Investment in Sales-type Leases | 6 Months Ended
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Jun. 30, 2022
Leases [Abstract] |
Net Investment in Sales-type Leases | Net Investment in Sales-type Leases As of June 30, 2022, the Company had five A320-200 aircraft on lease to an airline with terms that meet the criteria of being classified as a sales-type lease. Net investment in sales-type leases was included in Other assets in the Company’s Consolidated Balance Sheets based on the present value of fixed payments under the contract and the residual value of the underlying asset, discounted at the rate implicit in the lease. The Company’s investment in sales-type leases consisted of the following (in thousands):
| June 30, 2022
Future minimum lease payments to be received | $ | 121,360 |
Estimated residual values of leased flight equipment | 45,844 |
Less: Unearned income | (26,113) |
Net Investment in Sales-type Leases | $ | 141,091 |
As of June 30, 2022, future minimum lease payments to be received on sales-type leases were as follows:
| (in thousands)
Years ending December 31, |
2022 (excluding the six months ended June 30, 2022) | $ | 6,150 |
2023 | 12,300 |
2024 | 12,300 |
2025 | 12,300 |
2026 | 12,300 |
Thereafter | 66,010 |
Total | $ | 121,360 |

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- Definition The entire disclosure of lessor's sales-type leases. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 30 -URI https://asc.fasb.org/subtopic&trid=77888252 + Details
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