Investments in Equipment and Leases, Net (Tables)

6 Months Ended

Jun. 30, 2016

Investments in Equipment and Leases, Net [Abstract]

Investment in Leases

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

		Balance December 31, 2015		Reclassifications & Additions / Dispositions		Depreciation/ Amortization Expense or Amortization of Leases		Balance June 30, 2016
Net investment in operating leases	$	3,192	$	(42)	$	(151)	$	2,999
Net investment in direct financing leases		12		(10)		(2)		-
Assets held for sale or lease, net		720		(23)		-		697
Total	$	3,924	$	(75)	$	(153)	$	3,696

Property on Operating Leases

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

		Balance December 31, 2015		Additions		Reclassifications or Dispositions		Balance June 30, 2016
Transportation, rail	$	14,714	$	-	$	429	$	15,143
Containers		8,968		-		(744)		8,224
		23,682		-		(315)		23,367
Less accumulated depreciation		(20,490)		(151)		273		(20,368)
Total	$	3,192	$	(151)	$	(42)	$	2,999

Components of Company's Investment in Direct Financing Leases

The following lists the components of the Company’s investment in direct financing leases as of December 31, 2015 (in thousands):

		December 31,
		2015
Total minimum lease payments receivable	$	6
Estimated residual values of leased equipment (unguaranteed)		10
Investment in direct financing leases		16
Less unearned income		(4)
Net investment in direct financing leases	$	12

Future Minimum Lease Payments Receivable

At June 30, 2016, the aggregate amounts of future lease payments receivable are as follows (in thousands):

		Operating Leases
Six months ending December 31, 2016	$	1,164
Year ending December 31, 2017		1,795
2018		1,371
2019		1,106
2020		378
2021		48
	$	5,862

Schedule of Useful Lives of Assets

The useful lives for each category of leases is reviewed at a minimum of once per quarter. As of June 30, 2016, 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	15 - 20