Investment in Equipment and Leases, Net (Tables)

9 Months Ended

Sep. 30, 2012

Investment in Leases

The Company’s investment in leases consists of the following (in thousands):

	Balance December 31, 2011		Reclassifications & Additions/ Dispositions			Depreciation/ Amortization Expense or Amortization of Leases			Balance September 30, 2012
Net investment in operating leases	$	7,867	$	(602	)	$	(827	)	$	6,438
Net investment in direct financing leases		256		(3	)		(123	)		130
Assets held for sale or lease, net		153		546			(20	)		679
Total	$	8,276	$	(59	)	$	(970	)	$	7,247

Property on Operating Lease

Property on operating leases consists of the following (in thousands):

	Balance December 31, 2011			Additions			Reclassifications or Dispositions			Balance September 30, 2012
Containers	$	19,678		$	—		$	(255	)	$	19,423
Transportation, rail		16,316			—			(3,446	)		12,870
Marine vessel		4,793			—			—			4,793
Other		640			—			—			640
		41,427			—			(3,701	)		37,726
Less: accumulated depreciation		(33,560	)		(827	)		3,099			(31,288	)
Total	$	7,867		$	(827	)	$	(602	)	$	6,438

Components of Investment in Direct Financing Leases

The components of the Company’s investment in direct financing leases as of September 30, 2012 and December 31, 2011 are as follows (in thousands):

	September 30, 2012			December 31, 2011
Total minimum lease payments receivable	$	80		$	248
Estimated residual values of leased equipment (unguaranteed)		52			54
Investment in direct financing leases		132			302
Less unearned income		(2	)		(46	)
Net investment in direct financing leases	$	130		$	256

Aggregate Amount of Future Lease Payments

At September 30, 2012, the aggregate amount of future lease payments is as follows (in thousands):

	Operating Leases		Direct Financing Leases		Total
Three months ending December 31, 2012	$	470	$	32	$	502
Year ending December 31, 2013		1,353		48		1,401
2014		980		—		980
2015		465		—		465
2016		179		—		179
2017		179		—		179
Thereafter		75		—		75
	$	3,701	$	80	$	3,781