ATEL 15, LLC

CIK:0001519117|SEC Filings

Statements of Operations - USD ($)	12 Months Ended
Statements of Operations - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Leasing and lending activities:
Operating lease revenue, net	$ 3,120,000	$ 3,146,000
Gain on sales of operating lease assets	738,000	193,000
Other revenue	11,000	939,000
Total operating revenues	3,869,000	4,278,000
Operating expenses:
Depreciation of operating lease assets	1,518,000	2,063,000
Asset management fees to Managing Member	95,000	115,000
Cost reimbursements to Managing Member and/or affiliates	335,000	378,000
Impairment losses on equipment	0	0
Amortization of initial direct costs	1,000	1,000
Interest expense	25,000	58,000
Professional fees	153,000	164,000
Outside services	92,000	52,000
Taxes on income and franchise fees	85,000	80,000
Storage fees	4,000	4,000
Railcar maintenance	153,000	77,000
Other expense	75,000	95,000
Total operating expenses	2,536,000	3,087,000
Net income from operations	1,333,000	1,191,000
Other (loss) income:
Loss on sale of investment in equity securities	(1,000)	0
Unrealized loss on fair value adjustment for equity securities	(2,000)	(23,000)
Unrealized loss on fair value adjustment for warrants	0	(2,000)
Total other loss	(3,000)	(25,000)
Net income	1,330,000	1,166,000
Net income:
Managing Member	205,000	172,000
Other Members	1,125,000	994,000
Net income	$ 1,330,000	$ 1,166,000
Net loss per Limited Liability Company Unit (Other Members)	$ 0.17	$ 0.15
Weighted average number of Units outstanding	6,538,506	6,542,557

Statements of Cash Flows - USD ($)	12 Months Ended
Statements of Cash Flows - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Operating activities:
Net Income (Loss)	$ 1,330,000	$ 1,166,000
Adjustments to reconcile net income to cash provided by operating activities:
Gain on sales of operating lease assets	(738,000)	(193,000)
Loss on sale of investment in equity securities	1,000	0
Depreciation of operating lease assets	1,518,000	2,063,000
Amortization of initial direct costs	1,000	1,000
Provision (reversal) for doubtful accounts	3,000	(5,000)
Impairment losses on equipment	0	0
Unrealized loss on fair value adjustment for equity securities	2,000	23,000
Unrealized loss on fair value adjustment for warrants	0	2,000
Changes in operating assets and liabilities:
Accounts receivable	(1,000)	11,000
Prepaid expenses and other assets	4,000
Due to/from Managing Member and affiliates	(3,000)	(2,000)
Accounts payable, other		(29,000)
Unearned operating lease income	(24,000)	(1,000)
Net cash provided by operating activities	2,093,000	3,036,000
Investing activities:
Proceeds from sales of operating lease assets	1,983,000	653,000
Proceeds from sales equity securities	10,000
Net cash provided by investing activities	1,993,000	653,000
Financing activities:
Repayments under non-recourse debt	(1,012,000)	(979,000)
Repurchases of Units	(43,000)
Net cash used in financing activities	(3,779,000)	(3,277,000)
Net increase in cash and cash equivalents	307,000	412,000
Cash and cash equivalents at beginning of year	2,992,000	2,580,000
Cash and cash equivalents at end of year	3,299,000	2,992,000
Supplemental disclosures of cash flow information:
Cash paid during the year for interest	25,000	58,000
Cash paid during the year for taxes	90,000	80,000
Other Members [Member]
Operating activities:
Net Income (Loss)	1,125,000	994,000
Financing activities:
Distributions to Other Members	(2,519,000)	(2,126,000)
Managing Member [Member]
Operating activities:
Net Income (Loss)	205,000	172,000
Financing activities:
Distributions to Other Members	$ (205,000)	$ (172,000)

Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
ASSETS
Cash and cash equivalents	$ 3,299	$ 2,992
Accounts receivable, net	34	36
Investment in equity securities	24	37
Investment in equipment and leases, net	4,769	7,533
Prepaid expenses and other assets	5	9
Total assets	8,131	10,607
Accounts payable and accrued liabilities:
Non-recourse debt	172	1,184
Unearned operating lease income	43	67
Total liabilities	325	1,364
Commitments and contingencies
Members' capital:
Managing Member	0	0
Other Members	7,806	9,243
Total Members' capital	7,806	9,243
Total liabilities and Members' capital	8,131	10,607
Managing Member And Affiliates [Member]
Accounts payable and accrued liabilities:
Accounts payable and accrued liabilities	19	22
Nonrelated Party [Member]
Accounts payable and accrued liabilities:
Accounts payable and accrued liabilities	$ 91	$ 91