Equipment Under Operating Leases, Net (Tables)

12 Months Ended

Dec. 31, 2020

Equipment Under Operating Leases, Net [Abstract]

The Company’s equipment under operating leases, net consists of the following (in thousands):


					Depreciation/
					Amortization
	Balance		Reclassifications		Expense or		Balance
	December 31,		Additions / Dispositions		Amortization		December 31,
	2019		and Impairment Losses		of Leases		2020
Equipment under operating leases, net	$	2,592	$	(440)	$	(174)	$	1,978
Assets held for sale or lease, net		1,196		44		—		1,240
Initial direct costs, net		4		3		(3)		4
Total	$	3,792	$	(393)	$	(177)	$	3,222

Property on Operating Leases

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


	Balance						Balance
	December 31,				Reclassification		December 31,
	2019		Additions		/Dispositions		2020
Transportation, rail	$	12,150	$	—	$	(1,088)	$	11,062
Trucks and trailers		83		—		261		344
Aircraft		1,732		—		(1,439)		293
Manufacturing		624		—		—		624
Petro/natural gas		470		—		—		470
Materials handling		131		—		(41)		90
		15,190		—		(2,307)		12,883
Less accumulated depreciation		(12,598)		(174)		1,867		(10,905)
Total	$	2,592	$	(174)	$	(440)	$	1,978

Future Minimum Lease Payments Receivable

At December 31, 2020, the aggregate amounts of future minimum lease payments receivable were as follows (in thousands):


	Operating
	Leases
Year ending December 31, 2021	$	681
2022		561
2023		112
2024		65
2025		19
Thereafter		43
	$	1,481

Schedule of Useful Lives of Lease Assets

The useful lives for each category of leases is reviewed at a minimum of once per quarter. As of December 31, 2020 and 2019, the respective useful lives of each category of lease assets in the Company’s portfolio were as follows (in years):


Equipment category		Useful Life
Transportation, rail		35 - 50
Aircraft		20 - 30
Manufacturing		10 - 15
Petro/natural gas		10 - 15
Materials handling		7 - 10
Transportation, other		7 - 10

ATEL CAPITAL EQUIPMENT FUND X LLC 10-K