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Net Investment in Leases (Tables)
12 Months Ended
Dec. 31, 2022
Leases [Abstract]  
Schedule of net investment in leases

The Company’s net investment in leases were comprised of the following as of December 31, 2022 and 2021 ($ in thousands):

    

December 31, 2022

    

December 31, 2021

Total undiscounted cash flows

$

$

524,712

Unguaranteed estimated residual value

 

 

42,000

Present value discount

 

 

(523,497)

Net investment in leases(1)

$

$

43,215

(1)As of December 31, 2021, the Company’s net investment in lease was current in its payment status and performing in accordance with the terms of the lease. As of December 31, 2021, the risk rating on the Company’s net investment in leases was 1.0.
Schedule of changes in allowance for losses on net investment in leases

Allowance for Losses on Net Investment in Leases—Changes in the Company’s allowance for losses on net investment in leases for the years ended December 31, 2022 and 2021 were as follows ($ in thousands):

    

Year Ended

    

December 31, 2022

    

December 31, 2021

Allowance for losses on net investment in leases at beginning of period(1)

    

$

$

10,871

    

Provision for (recovery of) losses on net investment in leases included in discontinued operations(1)

(10,871)

Allowance for losses on net investment in leases at end of period(1)

$

$

(1)Refer to Note 3 - Net Lease Sale and Discontinued Operations. During the year ended December 31, 2021, the Company recorded a recovery of losses on net investment in leases of $10.9 million. The recovery of losses on net investment in leases for the year ended December 31, 2021 resulted primarily from the cash flows the Company received upon disposition of the Company’s net investment in leases included in “Real estate and other assets available and held for sale and classified as discontinued operations” and “Net investment in leases” on the Company’s consolidated balance sheets.