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These excerpts taken from the AYR 10-K filed Mar 2, 2009. Debt
Investments
Aircastle accounts for debt investments in accordance with
SFAS No. 115, Accounting for Certain Investments in
Debt and Equity Securities
(“SFAS No. 115”). As of
December 31, 2008, all of our debt investments are
classified as available-for-sale and are reported at fair value,
with unrealized gains and losses included in shareholders’
equity as a component of accumulated other comprehensive income.
The cost of securities sold is based on the specific
identification method. Interest on these securities is accrued
as earned and included in interest income. Unrealized losses
considered to be “other-than-temporary”, if any, are
recognized in earnings.
Debt Investments Aircastle accounts for debt investments in accordance with SFAS No. 115, Accounting for Certain Investments in Debt and Equity Securities (“SFAS No. 115”). As of December 31, 2008, all of our debt investments are classified as available-for-sale and are reported at fair value, with unrealized gains and losses included in shareholders’ equity as a component of accumulated other comprehensive income. The cost of securities sold is based on the specific identification method. Interest on these securities is accrued as earned and included in interest income. Unrealized losses considered to be “other-than-temporary”, if any, are recognized in earnings. This excerpt taken from the AYR 10-K filed Feb 28, 2008. Debt Investments |  | | Total | | | This excerpt taken from the AYR 8-K filed Sep 26, 2007. Debt Investments Debt Investment revenues and contribution margin were as follows:
For the year ended December 31, 2005, the contribution margin of our Debt Investments segment was $2.9 million on $3.0 million of revenues. At December 31, 2005, we owned $26.9 million of debt securities with $9.9 million of unrealized gains as reflected in accumulated other comprehensive income at December 31, 2005. For the year ended December 31, 2006, the contribution margin of our Debt Investments segment was $4.5 million on $9.0 million of revenues. At December 31, 2006, we owned $121.3 million of debt securities with $14.4 million of unrealized gains as reflected in accumulated other comprehensive income at December 31, 2006.
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