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LEASING EQUIPMENT, NET
 3 Months Ended
Mar. 31, 2025
Leases [Abstract]  
LEASING EQUIPMENT, NET
4. LEASING EQUIPMENT, NET
Leasing equipment, net is summarized as follows:
March 31, 2025
(unaudited)		December 31, 2024
Leasing equipment$2,480,641 $2,963,452 
Less: Accumulated depreciation(491,274)(589,722)
Leasing equipment, net$1,989,367 $2,373,730 
Due to specific transactions, we identified certain assets in our leasing equipment portfolio with indicators of impairment. As a result, we adjusted the carrying value of these assets to fair value and recognized transactional impairment charges of $0.0 million and $1.0 million, net of redelivery compensation, during the three months ended March 31, 2025 and 2024, respectively.
Depreciation expense for leasing equipment is summarized as follows (unaudited):
Three Months Ended March 31,
20252024
Depreciation expense for leasing equipment$55,886 $48,902