Equipment Under Operating Leases, Net (Tables)

9 Months Ended

Sep. 30, 2019

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


	Balance				Depreciation/		Balance
	December 31,				Amortization		September 30,
	2018		Additions		Expense		2019
Equipment under operating leases, net	$	10,001	$	1,513	$	(973)	$	10,541
Initial direct costs, net of accumulated amortization of $165 thousand at September 30, 2019 and $148 thousand at December 31, 2018		185		5		(46)		144
Total	$	10,186	$	1,518	$	(1,019)	$	10,685

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


	Balance						Balance
	December 31,				Reclassifications		September 30,
	2018		Additions		or Dispositions		2019
Transportation, rail	$	3,679	$	—	$	—	$	3,679
Mining		1,728		1,022		—		2,750
Construction		1,242		242		—		1,484
Paper processing		1,058		—		—		1,058
Marine vessels		1,041		—		—		1,041
Containers		860		—		—		860
Agriculture		742		—		—		742
Materials handling		711		249		—		960
Aviation		1,306		—		—		1,306
Transportation, other		97		—		—		97
		12,464		1,513		—		13,977
Less accumulated depreciation		(2,463)		(973)		—		(3,436)
Total	$	10,001	$	540	$	—	$	10,541

At September 30, 2019, the aggregate amounts of future minimum lease payments receivable are as follows (in thousands):


	Operating
	Leases
Three months ending December 31, 2019	$	510
Year ending December 31, 2020		1,862
2021		1,365
2022		1,146
2023		1,091
2024		724
Thereafter		527
	$	7,225

As of September 30, 2019, the respective useful lives of each category of lease assets in the Company’s portfolio are as follows (in years):