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Equipment Held for Operating Lease and Notes Receivable
 3 Months Ended
Mar. 31, 2021
Leases [Abstract]  
Equipment Held for Operating Lease and Notes Receivable Equipment Held for Operating Lease and Notes Receivable
As of March 31, 2021, the Company had $1,887.9 million equipment held for operating lease portfolio and $197.6 million notes receivable which represented 295 engines, eight aircraft, one marine vessel and other leased parts and equipment. As of December 31, 2020, the Company had $1,886.6 million equipment held for operating lease portfolio and $158.7 million notes receivable which represented 291 engines, eight aircraft, one marine vessel and other leased parts and equipment.
The following table disaggregates equipment held for operating lease by asset class (in thousands):
March 31, 2021December 31, 2020
Gross ValueAccumulated DepreciationNet Book ValueGross ValueAccumulated DepreciationNet Book Value
Engines and related equipment$2,264,712 $(468,290)$1,796,422 $2,238,160 $(445,780)$1,792,380 
Aircraft and airframes87,746 (8,088)79,658 89,613 (7,312)82,301 
Marine vessel13,010 (1,206)11,804 12,963 (1,031)11,932 
$2,365,468 $(477,584)$1,887,884 $2,340,736 $(454,123)$1,886,613 
Notes Receivable
During the three months ended March 31, 2021 and 2020, the Company recorded $2.9 million and $1.0 million of interest revenue, respectively, related to the notes receivable and is presented within Other revenue. The effective interest rates on our notes receivable ranged from 6.3% to 13.7% during the three months ended March 31, 2021 and 7.1% to 13.7% during the three months ended March 31, 2020.