OPERATING LEASES - LESSOR |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Leases [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| OPERATING LEASES - LESSOR | OPERATING LEASES - LESSOR The Company provides financing for various types of equipment through operating leasing arrangements. The equipment leased to others is carried at cost less accumulated depreciation in other assets on our consolidated balance sheets. The Company had equipment leased to others of $26.8 million and $30.7 million at March 31, 2025 and December 31, 2024, respectively, net of accumulated depreciation of $18.5 million and $18.1 million at March 31, 2025 and December 31, 2024, respectively. The Company recorded lease income of $3.1 million and $4.5 million related to lease payments for operating leases in other income on our consolidated statements of income for the three months ended March 31, 2025 and 2024, respectively. Depreciation expense related to leased equipment was $2.3 million and $3.6 million for the three months ended March 31, 2025 and 2024, respectively. The Company performs assessment of the recoverability of long-lived assets when events or changes in circumstances indicate their carrying values may not be recoverable. The future lease payments receivable from operating leases as of March 31, 2025 are as follows:
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