Investments in Equipment and Leases, Net (Tables)

12 Months Ended

Dec. 31, 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 December 31, 2016
Net investment in operating leases	$	3,192	$	(148)	$	(287)	$	2,757
Net investment in direct financing leases		12		(10)		(2)		-
Assets held for sale or lease, net		720		(23)		-		697
Initial direct cost, net of accumulated   amortization of $1 at December 31, 2016		-		13		(1)		12
Total	$	3,924	$	(168)	$	(290)	$	3,466

Property on Operating Leases

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

		Balance December 31, 2015		Additions		Reclassifications or Dispositions		Balance December 31, 2016
Transportation, rail	$	14,714	$	-	$	397	$	15,111
Containers		8,968		-		(1,998)		6,970
Aviation		-		-		11		11
		23,682		-		(1,590)		22,092
Less accumulated depreciation		(20,490)		(287)		1,442		(19,335)
Total	$	3,192	$	(287)	$	(148)	$	2,757

Components of Company's Investment in Direct Financing Leases

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

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 December 31, 2016, the aggregate amounts of future minimum lease payments receivable are as follows (in thousands):

		Operating Leases
Year ending December 31, 2017	$	1,795
2018		1,371
2019		1,106
2020		377
2021		48
	$	4,697

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 December 31, 2016 and 2015, 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
Aviation equipment	15 - 20
Containers	15 - 20