Investments in Equipment and Leases, Net (Tables)

9 Months Ended

Sep. 30, 2017

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


			Reclassifications,		Depreciation/ Amortization
	Balance		Additions/		Expense or		Balance
	December 31,		Dispositions and		Amortization		September 30,
	2016		Impairment Losses		of Leases		2017
Net investment in operating leases	$	2,583	$	(303)	$	(427)	$	1,853
Net investment in direct financing leases		1		-		1		-
Assets held for sale or lease, net		300		25		-		325
Initial direct costs, net of accumulated amortization of $4 at September 30, 2017 and $4 at December 31, 2016		1		-		-		1
Total	$	2,885	$	278	$	(428)	$	2,179

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


	Balance						Balance
	December 31,				Reclassifications		September 30,
	2016		Additions		or Dispositions		2017
Transportation	$	3,963	$	-	$	-	$	3,963
Construction		2,740		-		1		2,741
Aviation		2,167		-		-		2,167
Materials handling		254		-		(25)		229
Computer		87		-		(41)		46
Manufacturing		664		-		(664)		-
Other		1		-		(1)		-
		9,876		-		(730)		9,146
Less accumulated depreciation		(7,293)		(427)		427		(7,293)
Total	$	2,583	$	(427)	$	(303)	$	1,853

The components of the Company’s investment in direct financing leases as of December 31, 2016 are as follows (in thousands):


	December 31,
	2016
Total minimum lease payments receivable	$	1
Estimated residual values of leased equipment (unguaranteed)		-
Investment in direct financing leases		1
Less unearned income		-
Net investment in direct financing leases	$	1

At September 30, 2017, the aggregate amounts of future minimum lease payments receivable are as follows (in thousands):


		Operating Leases
Three months ending December 31, 2017	$	186
Year ending December 31, 2018		313
	$	499

As of September 30, 2017, the respective useful lives of each category of lease assets in the Company’s portfolio are as follows (in years):

ATEL 12, LLC 10-Q