ATEL Capital Equipment Fund XI, LLC

CIK:0001297667|SEC Filings

Statements of Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Statements of Income - USD ($) $ in Thousands	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Leasing activities:
Operating leases	$ 174	$ 239	$ 609	$ 753
Gain on sales of equipment under operating leases	61		125	274
Other		1		10
Total revenues	235	240	734	1,037
Expenses:
Depreciation of operating lease assets	43	45	132	205
Asset management fees to Managing Member	16	8	38	21
Cost reimbursements to Managing Member and/or affiliates	11	12	53	106
Reversal of credit losses				(33)
Impairment losses on investment in securities			5
Impairment losses on equipment			213
Amortization of initial direct costs		1		1
Professional fees	37	13	133	91
Outside services	26	21	59	65
Taxes on income and franchise fees	6	7	55	21
Printing and photocopying	2		8
Insurance		4	8	12
Other	8	9	15	19
Total operating expenses	149	120	719	508
Other income, net				1
Net income	86	120	15	530
Net income (loss):
Managing Member			84
Other Members	86	120	(69)	530
Net income	$ 86	$ 120	$ 15	$ 530
Net income (loss) per Limited Liability Company Unit (Other Members)	$ 0.02	$ 0.02	$ (0.01)	$ 0.10
Weighted average number of Units outstanding	5,194,307	5,194,307	5,194,307	5,200,571

Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Statements of Cash Flows - USD ($) $ in Thousands	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Operating activities:
Net income	$ 86	$ 120	$ 15	$ 530
Adjustments to reconcile net income to cash (used in) provided by operating activities:
Gain on sales of equipment under operating lease, net	(61)		(125)	(274)
Depreciation of operating lease assets	43	45	132	205
Amortization of initial direct costs		1		1
Reversal of credit losses				(33)
Impairment losses on investment in securities			5
Impairment losses on equipment			213
Changes in operating assets and liabilities:
Accounts receivable	(55)	67	(88)	75
Due from Managing Member	10	(43)	6	(43)
Prepaid expenses and other assets	(7)	(4)	2	(6)
Accounts payable, Managing Member	16	28	16	(11)
Other accounts payable and accruals	(133)	5	39	(13)
Unearned operating lease income	11	(2)	10	14
Net cash (used in) provided by operating activities	(90)	217	225	445
Investing activities:
Proceeds from sales equipment under operating lease, net	188		275	352
Net cash provided by investing activities	188		275	352
Financing activities:
Repurchases of Units				(8)
Net cash used in financing activities			(1,123)	(8)
Net (decrease) increase in cash and cash equivalents	98	217	(623)	789
Cash and cash equivalents at beginning of period	773	1,158	1,494	586
Cash and cash equivalents at end of period	871	1,375	871	1,375
Supplemental disclosures of cash flow information:
Cash paid during the period for taxes	37	18	48	19
Other Members [Member]
Operating activities:
Net income	$ 86	$ 120	(69)	$ 530
Financing activities:
Distributions to Members			(1,039)
Managing Member [Member]
Operating activities:
Net income			84
Financing activities:
Distributions to Members			$ (84)

Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
ASSETS
Cash and cash equivalents	$ 871	$ 1,494
Accounts receivable, net	152	64
Due from Managing Member		6
Investment in securities	6	11
Equipment under operating leases, net	807	1,302
Prepaid expenses and other assets	32	34
Total assets	1,868	2,911
Accounts payable and accrued liabilities:
Affiliates	16
Other	100	61
Unearned operating lease income	35	25
Total liabilities	151	86
Commitments and contingencies
Members' capital:
Other Members	1,717	2,825
Total Members' capital	1,717	2,825
Total liabilities and Members' capital	$ 1,868	$ 2,911