Investment in equipment and leases, net (Tables)

9 Months Ended

Sep. 30, 2023

Investment in equipment and leases, net [Abstract]

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


					Depreciation/
					Amortization
	Balance			Reclassifications,	Expense or		Balance
	December 31,			Additions	Amortization		September 30,
	2022			and Dispositions	of Leases		2023
Equipment under operating leases, net	$	7,042	$	(33)	$	(1,179)	$	5,830
Assets held for sale or lease, net		488		—		—		488
Initial direct costs, net		3		—		(1)		2
Total	$	7,533	$	(33)	$	(1,180)	$	6,320

Property on Operating Leases

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


	Balance						Balance
	December 31,				Reclassifications		September 30,
	2022		Additions		or Dispositions		2023
Marine vessel	$	19,410	$	—	$	—	$	19,410
Transportation, rail		5,899		—		(250)		5,649
Facility – other		5,084		—		—		5,084
Manufacturing		2,753		—		—		2,753
Other		722		—		—		722
		33,868		—		(250)		33,618
Less accumulated depreciation		(26,826)		(1,179)		217		(27,788)
Total	$	7,042	$	(1,179)	$	(33)	$	5,830

Future Minimum Lease Payments Receivable

As of September 30, 2023, the aggregate amounts of future minimum lease payments receivable are as follows (in thousands):


	Operating
	Leases
Three months ending December 31, 2023	$	330
Year ending December 31, 2024		1,044
2025		162
2026		49
2027		13
Thereafter		20
	$	1,618

Schedule of Useful Lives of Assets

The useful lives for each category of leases are reviewed at a minimum of once per quarter. As of September 30, 2023 and December 31, 2022, 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 – 50
Marine vessel		20 – 30
Manufacturing		10 – 15
Facility - other		7 – 10
Other		7 – 10

ATEL 15, LLC 10-Q