Investment in Equipment and Leases, Net (Tables)

6 Months Ended

Jun. 30, 2023

Investment in Equipment and Leases, Net [Abstract]

Investment in Leases

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

	Balance		Additions/		Depreciation/		Balance
		December 31,	Dispositions/		Amortization			June 30,
	2022		Reclassifications		Expense		2023
Equipment under operating leases, net	$	6,543	$	-	$	(682)	$	5,861
Initial direct costs, net		46		-		(11)		35
Total	$	6,589	$	-	$	(693)	$	5,896

Property on Operating Leases

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

	Balance						Balance
	December 31,				Reclassifications		June 30,
	2022		Additions		or Dispositions		2023
Construction	$	3,218	$	-	$	-	$	3,218
Mining		2,749		-		-		2,749
Aviation		2,327		-		-		2,327
Transportation, rail		1,723		-		-		1,723
Materials handling		1,249		-		-		1,249
Paper processing		1,058		-		-		1,058
Transportation, other		215		-		-		215
		12,539		-		-		12,539
Less accumulated depreciation		(5,996)		(682)		-		(6,678)
Total	$	6,543	$	(682)	$	-	$	5,861

Future Minimum Lease Payments Receivable

At June 30, 2023, the aggregate amounts of future minimum lease payments receivable are as follows (in thousands):

	Operating
	Leases
Six months ending December 31, 2023	$	812
Year ending December 31, 2024		1,191
2025		536
2026		301
2027		233
Thereafter		78
	$	3,151

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 June 30, 2023, 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
Construction	7 - 10
Materials handling	7 - 10
Transportation, other	7 - 10