Equipment Held for Operating Lease and Notes Receivable

6 Months Ended

Jun. 30, 2024

Equipment Held for Operating Lease and Notes Receivable

As of June 30, 2024, the Company had $2,317.9 million of equipment held in our operating lease portfolio, $115.5 million of notes receivable, $25.5 million of maintenance rights, and $6.2 million of investments in sales-type leases, which represented 344 engines, 12 aircraft, one marine vessel, and other leased parts and equipment. As of December 31, 2023, the Company had $2,112.8 million of equipment held in our operating lease portfolio, $92.6 million of notes receivable, $9.2 million of maintenance rights, and $8.8 million of investments in sales-type leases, which represented 337 engines, 12 aircraft, one marine vessel, and other leased parts and equipment.

The following table disaggregates equipment held for operating lease by asset class (in thousands):


	June 30, 2024						December 31, 2023
	Gross Value		Accumulated Depreciation		Net Book Value		Gross Value		Accumulated Depreciation		Net Book Value
Engines and related equipment	$	2,763,631	$	(591,694)	$	2,171,937	$	2,535,148	$	(569,596)	$	1,965,552
Aircraft and airframes	144,427		(9,112)		135,315		157,616		(21,409)		136,207
Marine vessel	14,367		(3,716)		10,651		14,366		(3,288)		11,078
	$	2,922,425	$	(604,522)	$	2,317,903	$	2,707,130	$	(594,293)	$	2,112,837

Notes Receivable and Investments in Sales-Type Leases

During the three months ended June 30, 2024 and 2023, the Company recorded interest revenue related to the notes receivable and investments in sales-type leases of $2.3 million, each respectively, and $4.6 million and $4.3 million during the six months ended June 30, 2024 and 2023, respectively. The effective interest rates on our notes receivable and investments in sales-type leases ranged from 7.1% to 12.2% as of June 30, 2024 and 2023.