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Concentration of Risk | 12 Months Ended
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Dec. 31, 2022
Risks and Uncertainties [Abstract] |
Concentration of Risk | Concentration of Risk Geographical and credit risks As of December 31, 2022, all of the Company’s Rental of flight equipment revenues were generated by leasing flight equipment to foreign and domestic airlines, and the Company leased and managed aircraft to 117 customers whose principal places of business are located in 62 countries as of December 31, 2022 compared to 118 lessees in 60 countries as of December 31, 2021. Over 95% of the Company’s aircraft are operated internationally. The following table sets forth the regional concentration based on each airline's principal place of business of the Company’s flight equipment subject to operating leases based on net book value as of December 31, 2022 and 2021:
|  | Year Ended December 31, 2022 |  | Year Ended December 31, 2021
Region |  | Net Book Value |  | % of Total |  | Net Book Value |  | % of Total
|  | (in thousands, except percentages)
Europe |  | $ | 7,985,317 |  |  | 32.5 | % |  | $ | 7,439,993 |  |  | 32.5 | %
Asia (excluding China) |  | 7,144,188 |  |  | 29.1 | % |  | 5,952,981 |  |  | 26.0 | %
China |  | 2,792,022 |  |  | 11.4 | % |  | 2,934,224 |  |  | 12.8 | %
The Middle East and Africa |  | 2,253,342 |  |  | 9.3 | % |  | 2,447,919 |  |  | 10.7 | %
Central America, South America, and Mexico |  | 1,924,216 |  |  | 7.8 | % |  | 1,566,133 |  |  | 6.8 | %
U.S. and Canada |  | 1,557,260 |  |  | 6.3 | % |  | 1,638,450 |  |  | 7.2 | %
Pacific, Australia, and New Zealand |  | 882,040 |  |  | 3.6 | % |  | 919,304 |  |  | 4.0 | %
Total |  | $ | 24,538,385 |  |  | 100.0 | % |  | $ | 22,899,004 |  |  | 100.0 | %
At December 31, 2022 and 2021, the Company owned and managed leased aircraft to customers in the following regions based on each airline's principal place of business:
|  | Year Ended December 31, 2022 |  | Year Ended December 31, 2021
Region |  | Number of Customers(1) |  | % of Total |  | Number of Customers(1) |  | % of Total
Europe |  | 49 |  |  | 41.9 | % |  | 50 |  |  | 42.5 | %
Asia (excluding China) |  | 23 |  |  | 19.7 | % |  | 22 |  |  | 18.6 | %
The Middle East and Africa |  | 14 |  |  | 12.0 | % |  | 14 |  |  | 11.9 | %
U.S. and Canada |  | 13 |  |  | 11.1 | % |  | 13 |  |  | 11.0 | %
China |  | 8 |  |  | 6.8 | % |  | 9 |  |  | 7.6 | %
Central America, South America and Mexico |  | 7 |  |  | 6.0 | % |  | 7 |  |  | 5.9 | %
Pacific, Australia, and New Zealand |  | 3 |  |  | 2.5 | % |  | 3 |  |  | 2.5 | %
Total |  | 117 |  |  | 100.0 | % |  | 118 |  |  | 100.0 | %
(1) A customer is an airline with its own operating certificate.
The following table sets forth the dollar amount and percentage of the Company’s Rental of flight equipment revenues from its flight equipment subject to operating leases attributable to the indicated regions based on each airline’s principal place of business:
|  | Year Ended December 31, 2022 |  | Year Ended December 31, 2021 |  | Year Ended December 31, 2020
Region |  | Amount of Rental Revenue |  | % of Total |  | Amount of Rental Revenue |  | % of Total |  | Amount of Rental Revenue |  | % of Total
|  | (in thousands, except percentages)
Asia (excluding China) |  | $ | 625,355 |  |  | 28.2 | % |  | $ | 558,020 |  |  | 27.9 | % |  | $ | 573,722 |  |  | 29.5 | %
Europe |  | 611,091 |  |  | 27.6 | % |  | 564,479 |  |  | 28.2 | % |  | 525,543 |  |  | 27.0 | %
China |  | 359,976 |  |  | 16.3 | % |  | 352,375 |  |  | 17.6 | % |  | 341,121 |  |  | 17.5 | %
The Middle East and Africa |  | 251,243 |  |  | 11.3 | % |  | 210,977 |  |  | 10.5 | % |  | 220,017 |  |  | 11.3 | %
U.S. and Canada |  | 143,266 |  |  | 6.5 | % |  | 130,717 |  |  | 6.5 | % |  | 106,694 |  |  | 5.5 | %
Central America, South America and Mexico |  | 141,638 |  |  | 6.4 | % |  | 104,315 |  |  | 5.2 | % |  | 88,113 |  |  | 4.5 | %
Pacific, Australia, and New Zealand |  | 81,939 |  |  | 3.7 | % |  | 82,454 |  |  | 4.1 | % |  | 91,410 |  |  | 4.7 | %
Total |  | $ | 2,214,508 |  |  | 100.0 | % |  | $ | 2,003,337 |  |  | 100.0 | % |  | $ | 1,946,620 |  |  | 100.0 | %
For the years ended December 31, 2022, 2021, and 2020, China was the only individual country that represented at least 10% of our rental revenue based on each airline's principal place of business; however, no individual airline contributed more than 10% to the Company’s rental revenue. Currency risk The Company attempts to minimize currency and exchange risks by entering into aircraft purchase agreements and a majority of lease agreements and debt agreements with U.S. dollars as the designated payment currency.

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- Definition The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -URI https://asc.fasb.org/topic&trid=2134479 + Details
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