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FINANCE LEASES
 12 Months Ended
Dec. 31, 2020
Debt Disclosure [Abstract]  
FINANCE LEASES FINANCE LEASES
The Company has six finance lease obligations with two financing companies, collateralized by Gamma Knife and PBRT equipment having an aggregate net book value of $18,093,000, the individual customer contracts, and related accounts receivable of $1,892,000 at December 31, 2020. These obligations have imputed interest rates ranging between 4.73% and 13.00%, are predominantly payable in 36 to 84 monthly installments, and mature between November 2021 and September 2024.
As of December 31, 2019, the Company had ten finance lease obligations with three financing companies, collateralized by Gamma Knife and PBRT equipment, having an aggregate net book value of $22,860,000, the individual customer contracts, and related accounts receivable of $4,600,000.
At the end of each lease term, the Company has a bargain purchase option to purchase the equipment.
Future minimum lease payments, together with the present value of the net minimum lease payments under finance leases at December 31, 2020, are summarized as follows:
Net Present Value
of Minimum
Lease Payments
Year ending December 31,
2021$6,590,000 
20221,576,000 
20231,083,000 
2024522,000 
Total finance lease payments9,771,000 
Less imputed interest852,000 
8,919,000 
Less current portion5,945,000 
$2,974,000