Equipment Under Operating Leases, Net (Tables)

12 Months Ended

Dec. 31, 2019

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


	Balance				Depreciation/		Balance
	December 31,				Amortization		December 31,
	2018		Additions		Expense		2019
Equipment under operating leases, net	$	10,001	$	1,494	$	(1,336)	$	10,159
Initial direct costs, net of accumulated amortization of $179 thousand at December 31, 2019 and $148 thousand at December 31, 2018		185		5		(59)		131
Total	$	10,186	$	1,499	$	(1,395)	$	10,290

Operating leases:

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


	Balance						Balance
	December 31,				Reclassifications		December 31,
	2018		Additions		or Dispositions		2019
Transportation, rail	$	3,679	$	—	$	(22)	$	3,657
Mining		1,728		1,021		—		2,749
Construction		1,242		242		—		1,484
Aviation		1,306		—		—		1,306
Paper processing		1,058		—		—		1,058
Marine vessels		1,041		—		—		1,041
Containers		860		—		—		860
Agriculture		742		—		—		742
Materials handling		711		249		—		960
Transportation, other		97		—		—		97
		12,464		1,512		(22)		13,954
Less accumulated depreciation		(2,463)		(1,336)		4		(3,795)
Total	$	10,001	$	176	$	(18)	$	10,159

At December 31, 2019, the aggregate amounts of future minimum lease payments receivable are as follows (in thousands):

As of December 31, 2019, the respective useful lives of each category of lease assets in the Company’s portfolio are as follows (in years):