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Investments in Equipment and Leases, Net (Tables)

12 Months Ended

Dec. 31, 2014

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 December 31, 2014
Net investment in operating leases	$	4,231	$	(79)	$	(455)	$	3,697
Net investment in direct financing leases		-		20		(2)		18
Assets held for sale or lease, net		1,290		(505)		-		785
Total	$	5,521	$	(564)	$	(457)	$	4,500

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


		Balance December 31, 2013		Additions		Reclassifications or Dispositions		Balance December 31, 2014
Transportation, rail	$	11,353	$	110	$	2,800	$	14,263
Containers		15,874		-		(4,271)		11,603
Other		640		-		(290)		350
		27,867		110		(1,761)		26,216
Less accumulated depreciation		(23,636)		(455)		1,572		(22,519)
Total	$	4,231	$	345	$	(189)	$	3,697

The components of the Company’s investment in direct financing leases as of December 31, 2014 are as follows (in thousands):


		2014
Total minimum lease payments receivable	$	28
Estimated residual values of leased equipment (unguaranteed)		10
Investment in direct financing leases		38
Less unearned income		(20)
Net investment in direct financing leases	$	18

At December 31, 2014, the aggregate amount of future minimum lease payments receivable is as follows (in thousands):

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