Equipment Under Operating Leases, Net (Tables)

3 Months Ended

Mar. 31, 2020

Equipment Under Operating Leases, Net [Abstract]

Investment in Leases

The Company’s equipment under operating leases consists of the following (in thousands):

					Depreciation/
			Reclassifications,		Amortization
	Balance		Improvements/		Expense or		Balance
	December 31,		Dispositions and		Amortization		March 31,
	2019		Impairment Losses		of Leases		2020
Equipment under operating leases, net	$	11,477	$	(2)	$	(332)	$	11,143
Assets held for sale or lease, net		3,180		(7)		—		3,173
Total	$	14,657	$	(9)	$	(332)	$	14,316

Property On Operating Leases

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

	Balance						Balance
	December 31,				Reclassifications		March 31,
	2019		Additions		or Dispositions		2020
Marine vessel	$	19,410	$	—	$	—	$	19,410
Transportation, rail		4,010		—		—		4,010
Transportation		208		—		—		208
Manufacturing		5,292		—		(93)		5,199
Materials handling		326		—		(43)		283
Construction		919		—		—		919
Agriculture		542		—		—		542
		30,707		—		(136)		30,571
Less accumulated depreciation		(19,230)		(332)		134		(19,428)
Total	$	11,477	$	(332)	$	(2)	$	11,143

Future Minimum Lease Payments Receivable

At March 31, 2020, the aggregate amounts of future minimum lease payments receivable are as follows (in thousands):

	Operating
	Leases
Nine months ending December 31, 2020	$	1,159
Year ended December 31, 2021		1,266
2022		1,180
2023		1,164
2024		211
	$	4,980

Schedule of Useful Lives of Lease Assets

The useful lives for each category of leases is reviewed at a minimum of once per quarter. As of March 31, 2020 and December 31, 2019, 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 - 50
Marine vessel	20 - 30
Manufacturing	10  -15
Agriculture	7 - 10
Construction	7 - 10
Materials handling	7 - 10
Transportation	7 - 10