Equipment under operating leases, net (Tables)

9 Months Ended

Sep. 30, 2022

Equipment under operating leases, net [Abstract]

Investment in Leases

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

					Depreciation/
					Amortization
	Balance		Reclassifications		Expense or		Balance
	December 31,		Additions and		Amortization		September 30,
	2021		Dispositions		of Leases		2022
Equipment under operating leases, net	$	7,852	$	(135)	$	(1,063)	$	6,654
Assets held for sale or lease, net		559		(70)		(2)		487
Total	$	8,411	$	(205)	$	(1,065)	$	7,141

Property On Operating Leases

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

	Balance						Balance
	December 31,				Reclassifications		September 30,
	2021		Additions		or Disposition		2022
Marine vessel	$	19,410	$	—	$	—	$	19,410
Transportation, rail		4,032		—		(552)		3,480
Transportation		208		—		—		208
Manufacturing		3,119		—		(2,022)		1,097
Materials handling		125		—		—		125
Construction		582		—		—		582
Agriculture		542		—		(263)		279
		28,018		—		(2,837)		25,181
Less accumulated depreciation		(20,166)		(1,063)		2,702		(18,527)
Total	$	7,852	$	(1,063)	$	(135)	$	6,654

Future Minimum Lease Payments Receivable

At September 30, 2022, the aggregate amounts of future minimum lease payments receivable are as follows (in thousands):

	Operating
	Leases
Three months ending December 31, 2022	$	381
Year ending December 31, 2023		1,399
2024		422
2025		209
2026		52
	$	2,463

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 September 30, 2022 and December 31, 2021, 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