RENTAL EQUIPMENT, NET

6 Months Ended

Mar. 31, 2023

Property, Plant and Equipment [Abstract]

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