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Assets for Lease, net

9 Months Ended

Sep. 30, 2024

5. Assets for Lease, net

The Company provides financing of certain equipment through operating leases (see Note 14 to the Unaudited Condensed Financial Statements).

Assets for lease consist of the following:


	September 30,		December 31,
	2024		2023
Assets for lease	$	2,865	$	3,375
Less: accumulated depreciation		(1,128)		(1,090)
Assets for lease, net	$	1,737	$	2,285

Depreciation expense amounted to $71 and $81 for the three months ended September 30, 2024 and 2023, respectively. Depreciation expense amounted to $261 and $228 for the nine months ended September 30, 2024 and 2023, respectively. Reduction to accumulated depreciation for returned and retired items was $80 and $125 for the three months ended September 30, 2024 and 2023, respectively. Reduction to accumulated depreciation for returned and retired items was $184 and $390 for the nine months ended September 30, 2024 and 2023, respectively. The Company recognized a loss on disposal of assets for lease in the amount of $4 and $241 for the three months ended September 30, 2024 and 2023, respectively. The Company recognized a loss on disposal of assets for lease in the amount of $323 and $355 for the nine months ended September 30, 2024 and 2023, respectively.