Boeing 2013 Annual Report Download - page 87
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75
Customer Financing Exposure Customer financing is collateralized by security in the related asset. The
value of the collateral is closely tied to commercial airline performance and overall market conditions and
may be subject to reduced valuation with market decline. Declines in collateral values are also a significant
driver of our allowance for losses. Generally, out-of-production aircraft have experienced greater collateral
value declines than in-production aircraft. Our customer financing portfolio is primarily collateralized by
out-of-production aircraft. The majority of customer financing carrying values are concentrated in the
following aircraft models:
2013 2012
717 Aircraft ($444 and $465 accounted for as operating leases)(1) $1,674 $1,781
757 Aircraft ($402 and $454 accounted for as operating leases)(1) 453 561
MD-80 Aircraft (Accounted for as sales-type finance leases)(1) 411 446
747 Aircraft ($183 and $221 accounted for as operating leases) 286 221
787 Aircraft (Accounted for as operating leases) 273 286
MD-11 Aircraft (Accounted for as operating leases)(1) 220 269
737 Aircraft ($138 and $193 accounted for as operating leases) 210 316
767 Aircraft ($60 and $63 accounted for as operating leases) 207 223
(1) Out-of-production aircraft
Charges related to customer financing asset impairment for the years ended December 31 were as follows:
2013 2012 2011
Boeing Capital $67 $73 $109
Other Boeing 14 (15) (36)
Total $81 $58 $73
Scheduled receipts on customer financing are as follows:
Year 2014 2015 2016 2017 2018
Beyond
2018
Principal payments on notes receivable $216 $131 $41 $42 $45 $112
Sales-type/finance lease payments receivable 243 234 230 206 195 623
Operating lease equipment payments receivable 464 181 114 71 52 77