Equipment Under Operating Leases, Net (Tables)

3 Months Ended

Mar. 31, 2020

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


	Balance				Depreciation/		Balance
	December 31,				Amortization		March 31,
	2019		Additions		Expense		2020
Equipment under operating leases, net	$	10,159	$	—	$	(369)	$	9,790
Initial direct costs, net of accumulated amortization of $139 thousand at March 31, 2020 and $179 thousand at December 31, 2019		131		—		(19)		112
Total	$	10,290	$	—	$	(388)	$	9,902

Operating leases:

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


	Balance						Balance
	December 31,				Reclassifications		March 31,
	2019		Additions		or Dispositions		2020
Transportation, rail	$	3,657	$	—	$	—	$	3,657
Mining		2,749		—		—		2,749
Construction		1,484		—		—		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		960		—		—		960
Transportation, other		97		—		—		97
		13,954		—		—		13,954
Less accumulated depreciation		(3,795)		(369)		—		(4,164)
Total	$	10,159	$	(369)	$	—	$	9,790

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

As of March 31, 2020, the respective useful lives of each category of lease assets in the Company’s portfolio are as follows (in years):