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Equipment Held for Sale
 12 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
Equipment Held for Sale Equipment Held for Sale
The Company's equipment held for sale is recorded at the lower of its estimated 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. 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 components of Net gain (loss) on sale of leasing equipment on the Consolidated Statements of Operations (in thousands):
Year Ended December 31,
202420232022
Impairment (loss) reversal on equipment held for sale$(4,337)$(7,144)$(887)
Gain (loss) on sale of equipment, net of selling costs74,114 65,759 116,552 
Up-front (loss) on finance lease(57,408)— — 
Net gain (loss) on sale of leasing equipment$12,369 $58,615 $115,665 

During 2024, the Company entered into a finance lease transaction which included certain containers purchased during the COVID-19 pandemic with carrying values that were higher than current market values, resulting in an up-front loss of $57.4 million and corresponding reduction to the net book value of revenue earning assets.