Investment in Equipment and Leases, Net (Tables)

9 Months Ended

Sep. 30, 2012

Investment in Equipment and Leases

The Partnership’s investments in equipment and leases consist of the following (in thousands):

	Balance December 31, 2011		Reclassifications & Additions/ Dispositions			Depreciation/ Amortization Expense or Amortization of Leases			Balance September 30, 2012
Net investment in operating leases	$	7,075	$	(1,270	)	$	(363	)	$	5,442
Net investment in direct financing leases		405		(10	)		(140	)		255
Assets held for sale or lease, net		69		1,213			—			1,282
Total	$	7,549	$	(67	)	$	(503	)	$	6,979

Property on Operating Leases

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

	Balance December 31, 2011			Additions			Reclassifications or Dispositions			Balance September 30, 2012
Transportation	$	29,707		$	—		$	(933	)	$	28,774
Marine vessels/barges		15,675			—			(8,275	)		7,400
Materials handling		83			—			—			83
Construction		156			—			(156	)		—
		45,621			—			(9,364	)		36,257
Less accumulated depreciation		(38,546	)		(363	)		8,094			(30,815	)
Total	$	7,075		$	(363	)	$	(1,270	)	$	5,442

Components of Partnership's Investment in Direct Financing Leases

The components of the Partnership’s investment in direct financing leases as of September 30, 2012 and December 31, 2011 are as follows (in thousands):

	September 30, 2012			December 31, 2011
Total minimum lease payments receivable	$	254		$	533
Estimated residual values of leased equipment (unguaranteed)		65			75
Investment in direct financing leases		319			608
Less unearned income		(64	)		(203	)
Net investment in direct financing leases	$	255		$	405

Future Minimum Lease Payments Receivable

At September 30, 2012, the aggregate amounts of future minimum lease payments are as follows (in thousands):

	Operating Leases		Direct Financing Leases		Total
Three months ending December 31, 2012	$	593	$	89	$	682
Year ending December 31, 2013		1,134		165		1,299
2014		398		—		398
2015		321		—		321
2016		27		—		27
	$	2,473	$	254	$	2,727