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Investments in Equipment and Leases, Net (Tables)

3 Months Ended

Mar. 31, 2015

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


		Balance December 31, 2014		Reclassifications & Additions / Dispositions		Depreciation/ Amortization Expense or Amortization of Leases		Balance March 31, 2015
Net investment in operating leases	$	3,697	$	(190)	$	(89)	$	3,418
Net investment in direct financing leases		18		-		(1)		17
Assets held for sale or lease, net		785		(20)		-		765
Total	$	4,500	$	(210)	$	(90)	$	4,200

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


		Balance December 31, 2014		Additions		Reclassifications or Dispositions		Balance March 31, 2015
Transportation, rail	$	14,263	$	-	$	(289)	$	13,974
Containers		11,603		-		(1,169)		10,434
Other		350		-		(350)		-
		26,216		-		(1,808)		24,408
Less accumulated depreciation		(22,519)		(89)		1,618		(20,990)
Total	$	3,697	$	(89)	$	(190)	$	3,418

The following lists the components of the Company’s investment in direct financing leases as of March 31, 2015 and December 31, 2014 (in thousands):


		March 31		December 31,
		2015		2014
Total minimum lease payments receivable	$	22	$	28
Estimated residual values of leased equipment (unguaranteed)		10		10
Investment in direct financing leases		32		38
Less unearned income		(15)		(20)
Net investment in direct financing leases	$	17	$	18

At March 31, 2015, the aggregate amount of future lease payments associated with operating leases is as follows (in thousands):

As of March 31, 2015, the respective useful lives of each category of lease assets in the Company’s portfolio are as follows (in years):