XML 20 R9.htm IDEA: XBRL DOCUMENT v3.20.2
Equipment Held for Sale
 6 Months Ended
Jun. 30, 2020
Fair Value Disclosures [Abstract]  
Equipment Held for Sale Equipment Held for Sale

The Company's equipment held for sale is recorded at the lower of fair value less cost to sell, or carrying value at the time identified for sale. Fair value is measured using Level 2 inputs and is based on recent sales prices and other factors. The following table summarizes the portion of equipment held for sale in the consolidated balance sheet that have been impaired and written down to fair value less cost to sell (in thousands):
 
June 30, 2020
 
December 31, 2019
Equipment held for sale
$
14,765

 
$
11,797


An impairment charge is recorded when the carrying value of the asset exceeds its fair value less cost to sell. The following table summarizes the Company's net impairment charges recorded in net gains or losses on sale of leasing equipment held for sale on the consolidated statements of operations (in thousands):
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2020
 
2019
 
2020
 
2019
Impairment (loss) reversal on equipment held for sale
$
(1,053
)
 
$
(1,324
)
 
$
(2,543
)
 
$
(2,731
)
Gain (loss) on sale of equipment, net of selling costs
5,590

 
8,843

 
11,157

 
18,719

Net gain on sale of leasing equipment
$
4,537

 
$
7,519

 
$
8,614

 
$
15,988