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Investments in Equipment and Leases, Net (Tables)

12 Months Ended

Dec. 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 December 31, 2015
Net investment in operating leases	$	3,697	$	(188)	$	(317)	$	3,192
Net investment in direct financing leases		18		-		(6)		12
Assets held for sale or lease, net		785		(65)		-		720
Total	$	4,500	$	(253)	$	(323)	$	3,924

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


		Balance December 31, 2014		Additions		Reclassifications or Dispositions		Balance December 31, 2015
Transportation, rail	$	14,263	$	143	$	308	$	14,714
Containers		11,603		-		(2,635)		8,968
Other		350		-		(350)		-
		26,216		143		(2,677)		23,682
Less accumulated depreciation		(22,519)		(317)		2,346		(20,490)
Total	$	3,697	$	(174)	$	(331)	$	3,192

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


		2015		2014
Total minimum lease payments receivable	$	6	$	28
Estimated residual values of leased equipment (unguaranteed)		10		10
Investment in direct financing leases		16		38
Less unearned income		(4)		(20)
Net investment in direct financing leases	$	12	$	18

At December 31, 2015, the aggregate amount of future minimum lease payments receivable is as follows (in thousands):

As of December 31, 2015 and 2014, the respective useful lives of each category of lease assets in the Company’s portfolio are as follows (in years):