ATEL 12, LLC

CIK:0001394922|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	$ 155	$ 328	$ 665	$ 990
Gain (loss) on sales of lease assets	2		(51)	6
Gain on sales or dispositions of investment in securities	5		14	11
Unrealized (loss) gain on fair value adjustment for investment in securities	(7)	(8)	8	12
Unrealized gain on fair value adjustment for warrants	12	3	8	10
Other		1	117	27
Total revenues	167	324	761	1,056
Expenses:
Depreciation of operating lease assets	21	32	42	197
Asset management fees to Managing Member	6	13	19	42
Cost reimbursements to Managing Member and/or affiliates	9	14	49	99
Provision for (reversal of) credit losses	1		2	(37)
Impairment losses on investment in securities			5
Impairment losses on equipment			264
Professional fees	42	14	144	91
Outside services	22	20	54	59
Taxes on income and franchise fees	8	8	46	12
Other	7	15	27	33
Total expenses	116	116	652	496
Net income	51	208	109	560
Net income:
Managing Member			85
Other Members	51	208	24	560
Net income	$ 51	$ 208	$ 109	$ 560
Net income per Limited Liability Company Unit (Other Members)	$ 0.02	$ 0.07	$ 0.01	$ 0.19
Weighted average number of Units outstanding	2,992,482	2,992,482	2,992,482	2,992,482

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	$ 51	$ 208	$ 109	$ 560
Adjustment to reconcile net income to cash (used in) provided by operating activities:
(Gain) loss on sales of equipment under operating leases	(2)		51	(6)
Depreciation of operating lease assets	21	32	42	197
Provision for (reversal of) credit losses	1		2	(37)
Impairment losses on investment in securities			5
Impairment losses on equipment			264
Gain on sales or dispositions of investment in securities	(5)		(14)	(11)
Unrealized loss (gain) on fair value adjustment for investment in securities	7	8	(8)	(12)
Unrealized gain on fair value adjustment for warrants	(12)	(3)	(8)	(10)
Changes in operating assets and liabilities:
Accounts receivable	(1)	(1)	5	75
Due from Managing Member and affiliates	42	(27)	46	(27)
Prepaid expenses and other assets	(7)	(1)		(6)
Due to Managing Member and affiliate	7	3	7	(18)
Other accounts payable and accruals	(189)	(5)		(62)
Unearned operating lease income	11	23	(3)	16
Net cash provided by operating activities	(76)	237	498	659
Investing activities:
Proceeds from sales of lease assets	18		328	93
Proceeds from sales or dispositions of investment in securities	5	11	14	11
Net cash provided by investing activities	23	11	342	104
Financing activities:
Repayments under non-recourse debt				(103)
Net cash used in financing activities			(1,132)	(103)
Net (decrease) increase in cash and cash equivalents	(53)	248	(292)	660
Cash and cash equivalents at beginning of period	1,285	891	1,524	479
Cash and cash equivalents at end of period	1,232	1,139	1,232	1,139
Supplemental disclosures of cash flow information:
Cash paid during the period for taxes			53	19
Schedule of non-cash transactions:
Conversion of warrants to equity securities			93
Other Members [Member]
Operating activities:
Net income	$ 51	$ 208	24	$ 560
Financing activities:
Distributions to Members			(1,047)
Managing Member [Member]
Operating activities:
Net income			85
Financing activities:
Distributions to Members			$ (85)

Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
ASSETS
Cash and cash equivalents	$ 1,232	$ 1,524
Accounts receivable, net	3	10
Due from Managing Member and affiliates		46
Investment in securities	129	33
Warrants, fair value	68	153
Equipment under operating leases, net	857	1,542
Prepaid expenses and other assets	27	27
Total assets	2,316	3,335
Accounts payable and accrued liabilities:
Due to Managing Member and affiliates	7
Other	206	206
Unearned operating lease income	14	17
Total liabilities	227	223
Commitments and contingencies
Members' capital:
Managing Member
Other Members	2,089	3,112
Total Members' capital	2,089	3,112
Total liabilities and Members' capital	$ 2,316	$ 3,335