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Equipment Held for Operating Lease and Notes Receivable
 3 Months Ended
Mar. 31, 2022
Leases [Abstract]  
Equipment Held for Operating Lease and Notes Receivable Equipment Held for Operating Lease and Notes Receivable
As of March 31, 2022, the Company had $1,951.4 million equipment held for operating lease portfolio and $114.3 million notes receivable which represented 298 engines, twelve aircraft, one marine vessel and other leased parts and equipment. As of December 31, 2021, the Company had $1,991.4 million equipment held for operating lease portfolio and $115.5 million notes receivable which represented 304 engines, twelve 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, 2022December 31, 2021
Gross ValueAccumulated DepreciationNet Book ValueGross ValueAccumulated DepreciationNet Book Value
Engines and related equipment$2,327,007 $(515,549)$1,811,458 $2,368,496 $(515,442)1,853,054 
Aircraft and airframes137,214 (8,776)128,438 134,370 (7,790)126,580 
Marine vessel13,470 (1,918)11,552 13,470 (1,736)11,734 
$2,477,691 $(526,243)$1,951,448 $2,516,336 (524,968)1,991,368 
Notes Receivable
During the three months ended March 31, 2022 and 2021, the Company recorded interest income related to the notes receivable of $2.1 million and $2.9 million, respectively, and is presented within Other revenue. The effective interest rates on our notes receivable ranged from 6.3% to 12.2% as of March 31, 2022 and 6.3% to 13.7% as of March 31, 2021.