INVESTMENT IN SALES-TYPE LEASES, NET (Tables)

12 Months Ended

Dec. 31, 2014

Components of Net Investment in Sales-Type Leases

The components of the net investment in sales-type leases as of December 31, 2014 and 2013 are as follows:

	2014		2013
Total future minimum lease payments receivable	$	583,820,886	$	560,187,391
Less: executory cost		(134,771,919)		(134,447,605)
Less: unearned interest income		(268,028,368)		(241,234,839)
Net investment in sales - type leases		181,020,599		184,504,947
Current portion		6,561,984		9,063,386
Noncurrent portion	$	174,458,615	$	175,441,561

Future Minimum Rentals to be Received on Non-Cancelable Sales-Type Leases by Years

As of December 31, 2014, the future minimum rentals to be received on non-cancelable sales-type leases by years are as follows:

2015	$	42,114,725
2016		40,398,758
2017		40,398,758
2018		40,300,703
2019		40,202,647
Thereafter		380,405,295
Total	$	583,820,886

- Definition

Tabular disclosure of leases entered into in connection with the transaction involving the sale of property to another party and the lease of the property back to the seller was accounted for as an operating or capital lease. If the sale of the asset(s) did not meet the requirements to be accounted for as a sale whether the transaction was accounted for using the deposit method or as a financing. Disclosure may also include a description of the terms of the sale-leaseback transaction, including future commitments, obligations, provisions, or circumstances that require or result in the seller-lessee's continuing involvement. For leasing transactions involving "Special Purpose Entities"', disclosure may include a general description of the significant terms of the leasing arrangement including renewal or purchase options, escalation clauses, obligations with respect to refinancing of the lessor's debt, significant penalties and the provisions of any significant guarantees, such as residual value guarantees.

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