Concentration of Credit Risk and Major Customers

12 Months Ended

Dec. 31, 2013

Concentration of Credit Risk and Major Customers [Abstract]

Concentration of Credit Risk and Major Customers

3. Concentration of credit risk and major customers:

The Company leases equipment to lessees in diversified industries. Leases are subject to AFS’s credit committee review. The leases provide for the return of the equipment to the Company upon default.

As of December 31, 2013 and 2012, there were concentrations (defined as greater than or equal to 10%) of equipment leased to lessees in certain industries (as a percentage of total equipment cost) as follows:


	2013	2012
Transportation, containers	57%	46%
Transportation, rail	41%	42%
Transportation, other	*	12%
* Less than 10%

During 2013 and 2012, certain lessees generated significant portions (defined as greater than or equal to 10%) of the Company’s total lease revenues, excluding gains or losses from disposition of assets, as follows:


		Percentage of Total Lease Revenues
Lessee	Type of Equipment	2013	2012
Exsif Worldwide Inc.	Transportation, other	45%	37%
Bee Mar, LLC	Marine vessel	*	22%

* Less than 10%

- Definition

The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date.

+ References+ Details