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Investment in Leasing Operations: | 12 Months Ended
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Dec. 30, 2017
Investment in Leasing Operations: |
Investment in Leasing Operations: | 4. Investment in Leasing Operations: Investment in leasing operations consists of the following:
|  | December 30, 2017 |  | December 31, 2016
Direct financing and sales-type leases: |  |  |  |  |  |
Minimum lease payments receivable |  | $ | 36,119,700 |  | $ | 37,839,800
Estimated residual value of equipment |  |  | 4,762,700 |  |  | 4,754,200
Unearned lease income net of initial direct costs deferred |  |  | (5,371,900) |  |  | (5,844,500)
Security deposits |  |  | (4,526,000) |  |  | (4,424,400)
Equipment installed on leases not yet commenced |  |  | 10,989,700 |  |  | 9,961,600
Total investment in direct financing and sales-type leases |  |  | 41,974,200 |  |  | 42,286,700
Allowance for credit losses |  |  | (711,200) |  |  | (896,000)
Net investment in direct financing and sales-type leases |  |  | 41,263,000 |  |  | 41,390,700
Operating leases: |  |  |  |  |  |
Operating lease assets |  |  | 1,045,400 |  |  | 800,700
Less accumulated depreciation and amortization |  |  | (1,030,800) |  |  | (775,900)
Net investment in operating leases |  |  | 14,600 |  |  | 24,800
Total net investment in leasing operations |  | $ | 41,277,600 |  | $ | 41,415,500
As of December 30, 2017, the $41.3 million total net investment in leases consists of $15.3 million classified as current and $26.0 million classified as long-term. As of December 31, 2016, the $41.4 million total net investment in leases consists of $17.0 million classified as current and $24.4 million classified as long-term. As of December 30, 2017, leased assets with one customer approximated 26% of the Company’s total assets. As of December 31, 2016, leased assets with two customers approximated 19% and 17%, respectively, of the Company’s total assets. Future minimum lease payments receivable under lease contracts and the amortization of unearned lease income, net of initial direct costs deferred, is as follows as of December 30, 2017:
|  | Direct Financing and Sales-Type Leases |
|  | Minimum Lease |  | Income |
Fiscal Year |  | Payments Receivable |  | Amortization |
2018 |  | $ | 20,679,500 |  | $ | 3,946,100 |
2019 |  |  | 12,413,200 |  |  | 1,296,900 |
2020 |  |  | 2,982,900 |  |  | 124,700 |
2021 |  |  | 18,000 |  |  | 2,300 |
2022 |  |  | 13,700 |  |  | 1,300 |
Thereafter |  |  | 12,400 |  |  | 600 |
|  | $ | 36,119,700 |  | $ | 5,371,900 |
The activity in the allowance for credit losses for leasing operations during 2017, 2016 and 2015, respectively, is as follows:
|  | December 30, 2017 |  | December 31, 2016 |  | December 26, 2015 |
Balance at beginning of period |  | $ | 896,000 |  | $ | 859,100 |  | $ | 386,000 |
Provisions charged to expense |  |  | 9,000 |  |  | 18,500 |  |  | (149,700) |
Recoveries |  |  | 8,600 |  |  | 47,700 |  |  | 632,200 |
Deductions for amounts written-off |  |  | (202,400) |  |  | (29,300) |  |  | (9,400) |
Balance at end of period |  | $ | 711,200 |  | $ | 896,000 |  | $ | 859,100 |
The Company’s investment in direct financing and sales-type leases (“Investment In Leases”) and allowance for credit losses by loss evaluation methodology are as follows:
|  | December 30, 2017 |  | December 31, 2016
|  | Investment |  | Allowance for |  | Investment |  | Allowance for
|  | In Leases |  | Credit Losses |  | In Leases |  | Credit Losses
Collectively evaluated for loss potential |  | $ | 41,974,200 |  | $ | 711,200 |  | $ | 42,286,700 |  | $ | 896,000
Individually evaluated for loss potential |  |  | — |  |  | — |  |  | — |  |  | —
Total |  | $ | 41,974,200 |  | $ | 711,200 |  | $ | 42,286,700 |  | $ | 896,000
The Company’s key credit quality indicator for its investment in direct financing and sales-type leases is the status of the lease, defined as accruing or non-accrual. Leases that are accruing income are considered to have a lower risk of loss. Non-accrual leases are those that the Company believes have a higher risk of loss. The following table sets forth information regarding the Company’s accruing and non-accrual leases. Delinquent balances are determined based on the contractual terms of the lease.
|  | December 30, 2017
|  | 0-60 Days |  | 61-90 Days |  | Over 90 Days |  |  |  |  |  |
|  | Delinquent |  | Delinquent |  | Delinquent and |  |  |  |  |  |
|  | and Accruing |  | and Accruing |  | Accruing |  | Non-Accrual |  | Total
Middle-Market |  | $ | 40,657,500 |  | $ | 133,700 |  | $ | — |  | $ | — |  | $ | 40,791,200
Small-Ticket |  |  | 1,183,000 |  |  | — |  |  | — |  |  | — |  |  | 1,183,000
Total Investment in Leases |  | $ | 41,840,500 |  | $ | 133,700 |  | $ | — |  | $ | — |  | $ | 41,974,200
|  | December 31, 2016
|  | 0-60 Days |  | 61-90 Days |  | Over 90 Days |  |  |  |  |  |
|  | Delinquent |  | Delinquent |  | Delinquent and |  |  |  |  |  |
|  | and Accruing |  | and Accruing |  | Accruing |  | Non-Accrual |  | Total
Middle-Market |  | $ | 41,299,600 |  | $ | — |  | $ | — |  | $ | — |  | $ | 41,299,600
Small-Ticket |  |  | 987,100 |  |  | — |  |  | — |  |  | — |  |  | 987,100
Total Investment in Leases |  | $ | 42,286,700 |  | $ | — |  | $ | — |  | $ | — |  | $ | 42,286,700

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- Definition The entire disclosure for lessor entity's leasing arrangements for operating, capital and leveraged leases. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -URI http://asc.fasb.org/topic&trid=2208923 + Details
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