Investment in Equipment and Leases, Net (Tables)

9 Months Ended

Sep. 30, 2022

Investment in Equipment and Leases, Net [Abstract]

Investment in Leases

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

	Balance		Additions/		Depreciation/		Balance
		December 31,	Dispositions/		Amortization			September 30,
	2021		Reclassifications		Expense		2022
Equipment under operating leases, net	$	8,003	$	(85)	$	(1,034)	$	6,884
Assets held for sale or lease, net		—		—		—		—
Initial direct costs, net		73		—		(21)		52
Total	$	8,076	$	(85)	$	(1,055)	$	6,936

Property on Operating Leases

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

	Balance						Balance
	December 31,				Reclassifications		September 30,
	2021		Additions		or Dispositions		2022
Transportation, rail	$	1,723	$	—	$	—	$	1,723
Mining		2,749		—		—		2,749
Construction		3,725		—		(507)		3,218
Aviation		2,327		—		—		2,327
Paper processing		1,058		—		—		1,058
Agriculture		742		16		(742)		16
Materials handling		1,315		118		(82)		1,351
Transportation, other		97		—		—		97
		13,736		134		(1,331)		12,539
Less accumulated depreciation		(5,733)		(1,034)		1,112		(5,655)
Total	$	8,003	$	(900)	$	(219)	$	6,884

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	$	427
Year ending December 31, 2023		1,652
2024		1,191
2025		536
2026		301
Thereafter		311
	$	4,418

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, 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
Aviation	15 - 20
Mining	10 - 15
Paper processing	10 - 15
Agriculture	7 - 10
Construction	7 - 10
Materials handling	7 - 10
Transportation, other	7 - 10