Annual report pursuant to Section 13 and 15(d)

Third Party Notes Receivable

v3.8.0.1
Third Party Notes Receivable
12 Months Ended
Dec. 31, 2017
Notes, Loans and Financing Receivable, Net, Noncurrent [Abstract]  
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]
6.
LEASES AND NOTES RECEIVABLE FROM THIRD PARTIES
From time to time, the Company engages in lending and leasing activities involving various types of equipment. The Company recognizes interest income as payments are due, typically monthly, and expenses all costs associated with its lending and leasing activities as incurred. These leases and notes receivable are typically collateralized by the underlying equipment and require scheduled lease payments or periodic principal and interest payments. As of December 31, 2017 and 2016, the outstanding balance of leases and notes receivable from third parties was $2.8 million and $12.6 million, respectively, and is included in other long-term assets in the accompanying consolidated balance sheets. During the years ended December 31, 2017, 2016 and 2015, the Company made advances on notes receivable from third parties of $10.1 million, $9.1 million and $9.6 million, respectively, and received repayments on notes receivable from third parties of $34.5 million, $6.3 million and $23.9 million, respectively. During the year ended December 31, 2016, the Company recognized reserves of $6.7 million for one of its notes receivable from third parties following non-performance and a decline in the underlying collateral value (see Note 10).