Investment in Equipment and Leases, Net (Tables)

9 Months Ended

Sep. 30, 2014

Investment in Equipment and Leases, Net [Abstract]

Investment in Leases

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

		Balance December 31, 2013		Reclassifications & Additions / Dispositions		Depreciation/ Amortization Expense or Amortization of Leases		Balance September 30, 2014
Net investment in operating leases	$	4,231	$	(12)	$	(362)	$	3,857
Assets held for sale or lease, net		1,290		(492)		-		798
Total	$	5,521	$	(504)	$	(362)	$	4,655

Property on Operating Leases

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

		Balance December 31, 2013		Additions		Reclassifications or Dispositions		Balance September 30, 2014
Transportation, rail	$	11,353	$	107	$	2,828	$	14,288
Containers		15,874		-		(3,868)		12,006
Other		640		-		-		640
		27,867		107		(1,040)		26,934
Less accumulated depreciation		(23,636)		(362)		921		(23,077)
Total	$	4,231	$	(255)	$	(119)	$	3,857

Future Minimum Lease Payments Receivable

At September 30, 2014, the aggregate amount of future lease payments associated with operating leases is as follows  (in thousands):

		Operating Leases
Three months ending December 31, 2014	$	459
Year ending December 31, 2015		1,127
2016		752
2017		432
2018		78
2019		4
Thereafter		2
	$	2,854

Schedule of Useful Lives of Assets

As of September 30, 2014 and December 31, 2013, the respective useful lives of each category of lease assets in the Company’s portfolio are as follows (in years):

Equipment category	Useful Life
Transportation, rail	35-40
Containers	20-30