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LEASING EQUIPMENT, NET | 6 Months Ended
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Jun. 30, 2025
Lessor Disclosure [Abstract] |
LEASING EQUIPMENT, NET | 4. LEASING EQUIPMENT, NET Leasing equipment, net is summarized as follows:
|  |  |  |  |  |  | June 30, 2025 (unaudited) |  |  |  |  |  |  |  | December 31, 2024
Leasing equipment |  |  |  |  |  |  | $ | 2,342,123 |  |  |  |  |  |  |  |  | $ | 2,963,452 |
Less: Accumulated depreciation |  |  |  |  |  |  | (493,007) |  |  |  |  |  |  |  |  | (589,722) |
Leasing equipment, net |  |  |  |  |  |  | $ | 1,849,116 |  |  |  |  |  |  |  |  | $ | 2,373,730 |
We identified certain assets in our leasing equipment portfolio with indicators of impairment. During the three and six months ended June 30, 2025, the Company did not record any transactional impairment charges. In comparison, for the three and six months ended June 30, 2024 the Company recognized transactional impairment charges of $0.0 million and $1.0 million, respectively, net of redelivery compensation. Depreciation expense for leasing equipment is summarized as follows (unaudited):
| Three Months Ended June 30, |  | Six Months Ended June 30, |  |
| 2025 |  | 2024 |  | 2025 |  | 2024 |  |  |  |
Depreciation expense for leasing equipment | $ | 51,249 |  |  | $ | 55,658 |  |  | 107,135 |  |  | 104,560 |  |  |  |  |

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- Definition The entire disclosure for lessor's operating leases. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-30/tableOfContent + Details
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