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Equipment Held for Sale (Tables)
 9 Months Ended
Sep. 30, 2021
Fair Value Disclosures [Abstract]  
Disclosure of Long Lived Assets Held-for-sale
The Company's equipment held for sale is recorded at the lower of fair value less cost to sell, or carrying value at the time identified for sale. Fair value is measured using Level 2 inputs and is based predominantly on recent sales prices. The following table summarizes the portion of equipment held for sale in the consolidated balance sheet that have been impaired and written down to fair value less cost to sell (in thousands):
September 30, 2021December 31, 2020
Equipment held for sale$601 $4,001 

An impairment charge is recorded when the carrying value of the asset exceeds its fair value less cost to sell. The following table summarizes the Company's net impairment charges recorded in Net gain on sale of leasing equipment on the consolidated statements of operations (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2021202020212020
Impairment (loss) reversal on equipment held for sale$76 $(766)$39 $(3,309)
Gain (loss) on sale of equipment, net of selling costs25,530 11,503 78,925 22,660 
Net gain on sale of leasing equipment$25,606 $10,737 $78,964 $19,351