Equipment on Lease, Net
|3 Months Ended|
Mar. 31, 2023
|Equipment on Lease, Net||Equipment on Lease, Net
The equipment leased to customers had a cost basis of $8.1 million and accumulated depreciation of $1.4 million as of March 31, 2023. The equipment leased to customers had a cost basis of $10.6 million and accumulated depreciation of $1.5 million as of December 31, 2022.
The total depreciation expense was $0.3 million and $0.5 million included in cost of revenue for the three months ended March 31, 2023 and 2022, respectively.
Lease payments from customers consisted of the following:
The Company entered into debt secured by certain leased equipment to customers. See Note 9, Long-term Debt, for a description of these financing arrangements.
The entire disclosure of lessor's direct financing leases.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef