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INVESTMENTS IN COMMERCIAL FINANCE
 12 Months Ended
Sep. 30, 2012
Investments in Commercial Finance [Abstract]  
INVESTMENTS IN COMMERCIAL FINANCE
INVESTMENTS IN COMMERCIAL FINANCE
As a result of the November 2011 deconsolidation of LEAF, the Company has no investments in commercial finance at September 30, 2012. The Company’s investments in commercial finance at September 30, 2011 included the following (in thousands):
 
 
September 30,
2011
Direct financing leases, net
 
$
145,476

Equipment loans (1) 
 
19,640

Assets subject to operating leases, net (2) 
 
27,326

 
 
192,442

Allowance for credit losses
 
(430
)
Total investments in commercial finance, net
 
$
192,012

 
(1)
The interest rates on loans generally ranged from 6% to 18%.
(2)
Reflected net of accumulated depreciation of $7.1 million.
The components of direct financing leases were as follows (in thousands):
 
 
September 30,
2011
Total future minimum lease payments receivable
 
$
159,722

Initial direct costs, net of amortization
 
2,034

Unguaranteed residuals
 
8,666

Security deposits
 
(120
)
Unearned income
 
(24,826
)
Total investments in direct financing leases, net
 
$
145,476