Net Investment In Direct Finance Leases (Tables)

9 Months Ended

Sep. 30, 2017

Net Investment In Direct Finance Leases [Abstract]

Components Of Net Investment In Direct Finance Leases



	September 30,		December 31,
	2017		2016
Gross finance lease receivables (1)	$	329,223	$	123,563
Unearned income (2)		(101,282)		(23,022)
Net investment in direct finance leases	$	227,941	$	100,541

(1)

At the inception of the lease, the Company records the total minimum lease payments, executory costs, if any, and unguaranteed residual value as gross finance lease receivables. The gross finance lease receivables are reduced as customer payments are received. There was $21.9 million and $2.1 million unguaranteed residual value at September 30, 2017 and December 31, 2016, respectively, included in gross finance lease receivables. There were no executory costs included in gross finance lease receivables as of September 30, 2017 and December 31, 2016.

(2)

The difference between the gross finance lease receivables and the cost of the equipment or carrying amount at the lease inception is recorded as unearned income. Unearned income, together with initial direct costs, are amortized to income over the lease term so as to produce a constant periodic rate of return. There were no unamortized initial direct costs as of September 30, 2017 and December 31, 2016.

Gross Finance Lease Receivables By Customer Categories



	September 30,		December 31,
	2017		2016
Tier 1	$	273,742	$	74,777
Tier 2		55,481		48,786
Tier 3		-		-
	$	329,223	$	123,563

Contractual Maturities Of Gross Finance Lease Receivables



2018	$	46,735
2019		62,606
2020		32,929
2021		30,873
2022		27,974
2023 and thereafter		128,106
	$	329,223