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Equipment Held for Operating Lease | 12 Months Ended
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Dec. 31, 2015
Equipment Held for Operating Lease [Abstract] |
Equipment Held for Lease | (2) Equipment Held for Operating Lease At December 31, 2015, we had 201 aircraft engines and related equipment with a cost of $1,310.7 million, 5 spare parts packages with a cost of $5.2 million and 10 aircraft with a cost of $123.5 million, in our lease portfolio. At December 31, 2014, we had 207 aircraft engines and related equipment with a cost of $1,303.3 million, 5 aircraft with a cost of $38.1 million and 5 spare parts packages with a cost of $6.1 million in our lease portfolio. A majority of our equipment is leased and operated internationally. All leases relating to this equipment are denominated and payable in U.S. dollars. We lease our equipment to lessees domiciled in eight geographic regions. The tables below set forth geographic information about our leased equipment grouped by domicile of the lessee (which is not necessarily indicative of the asset’s actual location):
|  | Years Ended December 31, |
Lease rent revenue |  | 2015 |  | 2014 |  | 2013 |
|  | (in thousands) |
Region |  |  |  |  |  |  |  |  |  |
Europe |  | $ | 43,577 |  | $ | 37,990 |  | $ | 37,788 |
Asia |  |  | 31,534 |  |  | 21,796 |  |  | 21,407 |
South America |  |  | 9,688 |  |  | 9,907 |  |  | 8,794 |
United States |  |  | 9,177 |  |  | 11,880 |  |  | 14,258 |
Mexico |  |  | 6,906 |  |  | 7,771 |  |  | 7,387 |
Canada |  |  | 2,789 |  |  | 4,997 |  |  | 2,947 |
Middle East |  |  | 2,223 |  |  | 4,143 |  |  | 6,547 |
Africa |  |  | 1,972 |  |  | 3,264 |  |  | 2,609 |
Totals |  | $ | 107,866 |  | $ | 101,748 |  | $ | 101,737 |
|  | Years Ended December 31, |
Lease rent revenue less applicable depreciation and interest |  | 2015 |  | 2014 |  | 2013 |
|  | (in thousands) |
Region |  |  |  |  |  |  |  |  |  |
United States |  | $ | 634 |  | $ | 2,577 |  | $ | 6,055 |
Mexico |  |  | 2,310 |  |  | 2,157 |  |  | 1,641 |
Canada |  |  | (123) |  |  | (100) |  |  | 747 |
Europe |  |  | 11,074 |  |  | 6,988 |  |  | 5,061 |
South America |  |  | 1,929 |  |  | 3,503 |  |  | 2,995 |
Asia |  |  | 8,867 |  |  | 5,891 |  |  | 5,652 |
Africa |  |  | 206 |  |  | 1,041 |  |  | 837 |
Middle East |  |  | 474 |  |  | 1,277 |  |  | 1,664 |
Off-lease and other |  |  | (19,713) |  |  | (19,525) |  |  | (13,973) |
Totals |  | $ | 5,658 |  | $ | 3,809 |  | $ | 10,679 |
|  | Years Ended December 31, |
Net book value of equipment held for operating lease |  | 2015 |  | 2014 |  | 2013 |
|  | (in thousands) |
Region |  |  |  |  |  |  |  |  |  |
United States |  | $ | 103,492 |  | $ | 61,521 |  | $ | 103,515 |
Mexico |  |  | 42,246 |  |  | 64,770 |  |  | 75,628 |
Canada |  |  | 18,893 |  |  | 11,026 |  |  | 12,500 |
Europe |  |  | 389,721 |  |  | 344,833 |  |  | 368,381 |
South America |  |  | 112,718 |  |  | 107,080 |  |  | 78,486 |
Asia |  |  | 310,292 |  |  | 232,448 |  |  | 219,123 |
Africa |  |  | 9,612 |  |  | 12,063 |  |  | 3,734 |
Middle East |  |  | 18,937 |  |  | 17,125 |  |  | 58,509 |
Off-lease and other |  |  | 116,948 |  |  | 215,582 |  |  | 113,146 |
Totals |  | $ | 1,122,859 |  | $ | 1,066,448 |  | $ | 1,033,022 |
As of December 31, 2015 and 2014, the lease status of the equipment held for operating lease was as follows:
|  | December 31, 2015 |
Lease Term |  | Net Book Value |
|  | (in thousands) |
Off-lease and other |  | $ | 116,948 |
Month-to-month leases |  |  | 90,173 |
Leases expiring 2016 |  |  | 434,658 |
Leases expiring 2017 |  |  | 113,879 |
Leases expiring 2018 |  |  | 87,916 |
Leases expiring 2019 |  |  | 60,022 |
Leases expiring 2020 |  |  | 88,634 |
Leases expiring thereafter |  |  | 130,629 |
|  | $ | 1,122,859 |
|  | December 31, 2014 |
Lease Term |  | Net Book Value |
|  | (in thousands) |
Off-lease and other |  | $ | 215,582 |
Month-to-month leases |  |  | 97,951 |
Leases expiring 2015 |  |  | 331,757 |
Leases expiring 2016 |  |  | 151,444 |
Leases expiring 2017 |  |  | 73,387 |
Leases expiring 2018 |  |  | 62,972 |
Leases expiring 2019 |  |  | 24,001 |
Leases expiring thereafter |  |  | 109,354 |
|  | $ | 1,066,448 |
As of December 31, 2015, minimum future payments under non-cancelable leases were as follows:
Year |  | (in thousands) |
2016 |  | $ | 74,133 |
2017 |  |  | 47,513 |
2018 |  |  | 35,467 |
2019 |  |  | 27,434 |
2020 |  |  | 21,914 |
Thereafter |  |  | 24,689 |
|  | $ | 231,150 |

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