Operating Leases

3 Months Ended

Mar. 31, 2019

Operating Leases

As a lessor, the Company finances various types of construction equipment, medium and heavy duty trucks, automobiles and other equipment under leases classified as operating leases.

The following table shows the summary of the gross investment in operating lease equipment and accumulated depreciation.



(Dollars in thousands)	March 31, 2019			December 31, 2018
Operating leases:
Gross investment in operating lease financing	$	198,984		$	199,954
Accumulated depreciation	(67,390		)	(65,514		)
Net investment in operating lease financing	$	131,594		$	134,440

The following table shows minimum future lease rental payments due from clients on operating lease equipment at March 31, 2019.



(Dollars in thousands)
2019	$	23,462
2020	33,623
2021	19,570
2022	11,578
2023	6,037
Thereafter	2,774
Total	$	97,044

Income related to operating lease equipment rental for the three months ended March 31, 2019 and 2018 was $7.98 million and $7.76 million, respectively. Depreciation expense related to operating leased equipment for the three months ended March 31, 2019 and 2018 was $6.52 million and $6.43 million, respectively.

Income related to reimbursements from lessees for personal property tax on operating leased equipment for the three months ended March 31, 2019 was $0.24 million. Expense related to personal property tax payments on operating leased equipment for the three months ended March 31, 2019 was $0.24 million.