Investments in Equipment and Leases, Net (Tables)

3 Months Ended

Mar. 31, 2016

Investments in Equipment and Leases, Net [Abstract]

Investment in Leases

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

		Balance December 31, 2015		Reclassifications & Additions / Dispositions		Depreciation/ Amortization Expense or Amortization of Leases		Balance March 31, 2016
Net investment in operating leases	$	3,192	$	(38)	$	(77)	$	3,077
Net investment in direct financing leases		12		-		(2)		10
Assets held for sale or lease, net		720		(1)		-		719
Total	$	3,924	$	(39)	$	(79)	$	3,806

Property on Operating Leases

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

		Balance December 31, 2015		Additions		Reclassifications or Dispositions		Balance March 31, 2016
Transportation, rail	$	14,714	$	-	$	21	$	14,735
Containers		8,968		-		(383)		8,585
		23,682		-		(362)		23,320
Less accumulated depreciation		(20,490)		(77)		324		(20,243)
Total	$	3,192	$	(77)	$	(38)	$	3,077

Components of Company's Investment in Direct Financing Leases

The following lists the components of the Company’s investment in direct financing leases as of March 31, 2016 and December 31, 2015 (in thousands):

		March 31,		December 31,
		2016		2015
Total minimum lease payments receivable	$	-	$	6
Estimated residual values of leased equipment (unguaranteed)		10		10
Investment in direct financing leases		10		16
Less unearned income		-		(4)
Net investment in direct financing leases	$	10	$	12

Future Minimum Lease Payments Receivable

At March 31, 2016, the aggregate amounts of future lease payments receivable are as follows (in thousands):

		Operating Leases
Nine months ending December 31, 2016	$	1,492
Year ending December 31, 2017		1,644
2018		1,285
2019		1,016
2020		283
	$	5,720

Schedule of Useful Lives of Assets

The useful lives for each category of leases is reviewed at a minimum of once per quarter. As of March 31, 2016, the respective useful lives of each category of lease assets in the Company’s portfolio are as follows (in years):

Equipment category	Useful Life
Transportation, rail	35 - 40
Containers	20 - 30
Aviation equipment	15 - 20