ATEL 14, LLC

CIK:0001463389|SEC Filings

Statements of Operations - USD ($) $ in Thousands	12 Months Ended
Statements of Operations - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Investment in equipment and leases, net
Operating leases	$ 1,826	$ 2,170
Gain on sales of operating lease assets	631	361
Other revenue	2	6
Total operating revenues	2,459	2,537
Operating expenses:
Depreciation of operating lease assets	1,324	1,410
Asset management fees to Managing Member	78	91
Cost reimbursements to Managing Member and/or affiliates	310	335
Interest expense	25	58
Professional fees	138	156
Outside services	89	51
Taxes on income and franchise fees	23	111
Bank charges	6	8
Storage fees	4	3
Railcar maintenance	170	142
Freight and shipping	6
Other expense	64	73
Total operating expenses	2,237	2,438
Income from operations	222	99
Other loss:
Unrealized gain (loss) on fair value adjustment for equity securities		(5)
Unrealized loss on fair value adjustment for warrants		(3)
Total other loss		(8)
Net income	222	91
Net (loss) income:
Managing Member	50	114
Other Members	172	(23)
Net income	$ 222	$ 91
Net income per Limited Liability Company Unit - Other Members	$ 0.02
Weighted average number of Units outstanding	8,244,099	8,246,919

Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
Statements of Cash Flows - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Operating activities:
Net income	$ 222	$ 91
Adjustments to reconcile net (loss) income to cash provided by operating activities:
Gain on sales of operating lease assets	(631)	(361)
Depreciation of operating lease assets	1,324	1,410
Provision for (reversal of) doubtful accounts	1	(4)
Unrealized loss on fair value adjustment for equity securities		5
Unrealized loss on fair value adjustment for warrants		3
Changes in operating assets and liabilities:
Accounts receivable	21	2
Prepaid expenses and other assets	3	2
Accounts payable, Managing Member and affiliates	(3)	(1)
Other accounts payable and accruals	(13)	8
Unearned operating lease income	(13)	(12)
Net cash provided by operating activities	911	1,143
Investing activities:
Proceeds from sales of investment securities	3	0
Proceeds from sales of operating lease assets	1,436	566
Net cash provided by investing activities	1,439	566
Financing activities:
Repayments under non-recourse debt	(1,012)	(979)
Repurchase of Units	(14)
Net cash used in financing activities	(1,694)	(2,495)
Net increase (decrease) in cash and cash equivalents	656	(786)
Cash and cash equivalents at beginning of year	962	1,748
Cash and cash equivalents at end of year	1,618	962
Supplemental disclosures of cash flow information:
Cash paid during the year for interest	25	58
Cash paid during the year for taxes	81	117
Other Members [Member]
Financing activities:
Distributions to Members	(618)	(1,402)
Managing Member [Member]
Financing activities:
Distributions to Members	$ (50)	$ (114)

Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
ASSETS
Cash and cash equivalents	$ 1,618	$ 962
Accounts receivable, net	19	41
Investment in equity securities	125	128
Equipment under operating leases, net	4,667	6,796
Prepaid expenses and other assets	3	6
Total assets	6,432	7,933
Accounts payable and accrued liabilities:
Non-recourse debt	172	1,184
Unearned operating lease income	0	13
Total liabilities	342	1,383
Commitments and contingencies
Members' capital:
Managing Member	0	0
Other Members	6,090	6,550
Total Members' capital	6,090	6,550
Total liabilities and Members' capital	6,432	7,933
Affiliated Entity [Member]
Accounts payable and accrued liabilities:
Accounts payable and accrued liabilities	17	20
Nonrelated Party [Member]
Accounts payable and accrued liabilities:
Accounts payable and accrued liabilities	$ 153	$ 166