Note 7 – Leased Railcars

Railcars available for lease at December 31, 2019 was $38,900 (cost of $43,045 and accumulated depreciation of $4,145) and at December 31, 2018 was $64,755 (cost of $70,850 and accumulated depreciation of $6,095). Depreciation expense on railcars available for lease was $1,365 and $1,458 for the years ended December 31, 2019 and 2018, respectively.

Leased railcars at December 31, 2019 are subject to lease agreements with external customers with remaining terms of up to five and a half years and are accounted for as operating leases.

Future minimum rental revenues on leases at December 31, 2019 are as follows:



Year ending December 31, 2020	$	5,461
Year ending December 31, 2021		4,598
Year ending December 31, 2022		4,205
Year ending December 31, 2023		2,333
Year ending December 31, 2024		1,545
Thereafter		515
	$	18,657