Investment in equipment and leases, net (Tables)

3 Months Ended

Mar. 31, 2025

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			March 31,
	2024		Reclassifications		Expense		2025
Equipment under operating leases, net	$	3,824	$	-	$	(222)	$	3,602
Assets held for sale or lease, net		148		-		-		148
Initial direct costs, net		9		-		(2)		7
Total	$	3,981	$	-	$	(224)	$	3,757

Property on Operating Leases

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

	Balance						Balance
	December 31,				Reclassifications		March 31,
	2024		Additions		or Dispositions		2025
Construction	$	3,218	$	-	$	-	$	3,218
Mining		1,829		-		-		1,829
Aviation		2,327		-		-		2,327
Transportation, rail		1,723		-		-		1,723
Materials handling		754		-		-		754
Paper processing		1,058		-		-		1,058
Transportation, other		118		-		-		118
		11,027		-		-		11,027
Less accumulated depreciation		(7,203)		(222)		-		(7,425)
Total	$	3,824	$	(222)	$	-	$	3,602

Future Minimum Lease Payments Receivable

At March 31, 2025, the aggregate amounts of future minimum lease payments receivable are as follows (in thousands):

	Operating
	Leases
Nine months ending December 31, 2025	$	639
Year ending December 31, 2026		570
2027		502
2028		340
2029		159
2030		156
	$	2,366

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 March 31, 2025, 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