Rental Equipment

3 Months Ended

Mar. 31, 2016

Rental Equipment [Abstract]

Rental Equipment [Text Block]

Note 4 – Rental Equipment

Rental equipment consists of the following:

	March 31 2016		December 31 2015
In thousands
Rental equipment	$	21,142	$	21,134
Less accumulated depreciation		16,860		16,452
Net rental equipment	$	4,282	$	4,682

The Company entered into a Master Agreement for Sale and Assignment of Leases with AXIS Capital, Inc. (the “Assignment Agreement”) and financed the future receivables relating to certain lease contracts. The liabilities related to this transaction are included in Accrued liabilities and in Deferred pension liability and other in the Condensed Consolidated Balance Sheets. A security interest was granted on the rental equipment underlying the lease contract receivables sold to AXIS Capital, Inc. by the Company pursuant to the Assignment Agreement.

Depreciation expense for rental equipment for the three months ended March 31, 2016 and 2015 was $408,000 and $566,000, respectively.