XML 25 R22.htm IDEA: XBRL DOCUMENT

Investment in Leasing Operations: (Tables)

3 Months Ended

Mar. 28, 2020

Investment in Leasing Operations:

Schedule of investment in leasing operations


		March 28, 2020			December 28, 2019
Direct financing and sales-type leases:
Minimum lease payments receivable		$	22,936,500		$	26,001,200
Estimated unguaranteed residual value of equipment			3,974,000			4,109,800
Unearned lease income, net of initial direct costs deferred			(2,677,600)			(4,039,400)
Security deposits			(2,990,300)			(3,852,000)
Equipment installed on leases not yet commenced			1,283,700			3,437,800
Total investment in direct financing and sales-type leases			22,526,300			25,657,400
Allowance for credit losses			(1,197,500)			(580,600)
Net investment in direct financing and sales-type leases			21,328,800			25,076,800
Operating leases:
Operating lease assets			408,600			820,700
Less accumulated depreciation and amortization			(393,500)			(591,900)
Net investment in operating leases			15,100			228,800
Total net investment in leasing operations		$	21,343,900		$	25,305,600

Schedule of future minimum lease payments receivable under lease contracts and the amortization of unearned lease income, net of initial direct costs deferred


		Direct Financing and Sales-Type Leases
		Minimum Lease			Income
Fiscal Year		Payments Receivable			Amortization
2020		$	12,473,400		$	1,824,700
2021			8,578,400			764,500
2022			1,826,600			84,100
2023			33,400			2,500
2024			13,900			1,400
Thereafter			10,800			400
		$	22,936,500		$	2,677,600

Schedule of activity in the allowance for credit losses for leasing operations


		March 28, 2020			March 30, 2019
Balance at beginning of period		$	580,600		$	861,200
Provisions charged to expense			615,400			10,100
Recoveries			1,500			4,200
Deductions for amounts written-off			—			(224,100)
Balance at end of period		$	1,197,500		$	651,400

Schedule of investment in direct financing and sales-type leases (investment in leases) and allowance for credit losses by loss evaluation methodology


		March 28, 2020						December 28, 2019
		Investment			Allowance for			Investment			Allowance for
		In Leases			Credit Losses			In Leases			Credit Losses
Collectively evaluated for loss potential		$	22,526,300			1,197,500		$	25,657,400		$	580,600
Individually evaluated for loss potential			—			—			—			—
Total		$	22,526,300		$	1,197,500		$	25,657,400		$	580,600

Schedule of information regarding accruing and non-accrual leases


		March 28, 2020
		0-60 Days			61-90 Days			Over 90 Days
		Delinquent			Delinquent			Delinquent and
		and Accruing			and Accruing			Accruing			Non-Accrual			Total
Middle-Market		$	21,238,900		$	—		$	—		$	146,700		$	21,385,600
Small-Ticket			1,140,700			—			—			—			1,140,700
Total Investment in Leases		$	22,379,600		$	—		$	—		$	146,700		$	22,526,300


		December 28, 2019
		0-60 Days			61-90 Days			Over 90 Days
		Delinquent			Delinquent			Delinquent and
		and Accruing			and Accruing			Accruing			Non-Accrual			Total
Middle-Market		$	24,546,300		$	—		$	—		$			$	24,546,300
Small-Ticket			1,111,100			—			—			—			1,111,100
Total Investment in Leases		$	25,657,400		$	—		$	—		$	—		$	25,657,400

Schedule of components of leasing income


	Three Months Ended			Three Months Ended
	March 28, 2020			March 30, 2019
Interest income on direct financing and sales-type leases	$	1,128,600		$	2,182,500
Selling profit (loss) at commencement of sales-type leases		313,200			873,500
Operating lease income		435,400			638,300
Income on sales of equipment under lease		3,261,300			1,225,600
Other		732,700			235,400
Leasing income	$	5,871,200		$	5,155,300