XML 24 R13.htm IDEA: XBRL DOCUMENT v3.25.2
OPERATING LEASES - LESSOR
 6 Months Ended
Jun. 30, 2025
Leases [Abstract]  
OPERATING LEASES - LESSOR OPERATING LEASES - LESSOR
The Company provides financing for various types of equipment through operating leasing arrangements. The equipment leased to others is carried at cost less accumulated depreciation in other assets on our consolidated balance sheets. The Company had equipment leased to others of $25.6 million and $30.7 million at June 30, 2025 and December 31, 2024, respectively, net of accumulated depreciation of $16.9 million and $18.1 million at June 30, 2025 and December 31, 2024, respectively. The Company recorded lease income related to lease payments for operating leases in other income on our consolidated statements of income of $2.8 million and $4.4 million for the three months ended June 30, 2025 and 2024, respectively, and $5.9 million and $8.8 million for the six months ended June 30, 2025 and 2024, respectively. Depreciation expense related to leased equipment was $2.3 million and $3.4 million for the three months ended June 30, 2025 and 2024, respectively, and $4.6 million and $7.0 million for the six months ended June 30, 2025 and 2024, respectively.
The Company performs assessment of the recoverability of long-lived assets when events or changes in circumstances indicate their carrying values may not be recoverable.
The future lease payments receivable from operating leases as of June 30, 2025 are as follows:
(dollars in thousands)Amount
Year ending December 31:
2025 remaining$6,654 
20263,038 
20271,750 
2028773 
2029435 
Thereafter48 
Total future minimum lease payments$12,698