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RENTAL EQUIPMENT, NET | 6 Months Ended
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Mar. 31, 2023
Property, Plant and Equipment [Abstract] |
RENTAL EQUIPMENT, NET | RENTAL EQUIPMENT, NET Rental equipment consists of the following:
(Dollars in thousands) | March 31, 2023 |  | September 30, 2022
Computers and IT networking equipment | $ | 20,589 |  |  | $ | 21,669 |
Motor vehicles and other | 121,014 |  |  | 107,648 |
Other furniture and equipment | 35,604 |  |  | 34,254 |
Solar panels and equipment | 137,548 |  |  | 133,765 |
Total | 314,755 |  |  | 297,336 |
Accumulated depreciation | (105,073) |  |  | (94,355) |
Unamortized initial direct costs | 1,162 |  |  | 1,390 |
Net book value | $ | 210,844 |  |  | $ | 204,371 |
During the quarter, certain solar panels and equipment assets had a change in depreciable life that resulted in additional depreciation expense of $4.8 million occurring during the three-month period ended March 31, 2023. The assets impacted are now carried at their residual value and will not be subject to depreciation going forward. Future minimum lease payments expected to be received for operating leases at March 31, 2023 were as follows:
(Dollars in thousands) |
Remaining in 2023 | $ | 20,951 |
2024 | 35,326 |
2025 | 27,772 |
2026 | 19,091 |
2027 | 12,569 |
Thereafter | 12,758 |
Total | $ | 128,467 |

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 6 -URI https://asc.fasb.org/extlink&oid=126982197&loc=d3e99893-112916 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI https://asc.fasb.org/topic&trid=2155823 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 7 -URI https://asc.fasb.org/extlink&oid=126982197&loc=SL120174063-112916 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 1 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126982197&loc=d3e99779-112916 + Details
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