Equipment on Lease, Net
|3 Months Ended|
Mar. 31, 2022
|Equipment on Lease, Net||Equipment on Lease, NetThe equipment leased to customers had a cost basis of $10.9 million and accumulated depreciation of $1.4 million as of March 31, 2022. The equipment leased to customers had a cost basis of $9.3 million and accumulated depreciation of $0.9 million as of December 31, 2021.
Total lease revenue earned for the three months ended March 31, 2022 and 2021 was $0.9 million and $0.4 million, respectively. The total depreciation expense was $0.5 million and $0.2 million included in cost of revenue for the three months ended March 31, 2022 and 2021, respectively.
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