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Atel 16, LLC – ‘10-Q’ for 6/30/22 – ‘R16’

On:  Friday, 8/12/22, at 1:27pm ET   ·   For:  6/30/22   ·   Accession #:  1558370-22-13452   ·   File #:  0-55417

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 8/12/22  Atel 16, LLC                      10-Q        6/30/22   66:7.4M                                   Toppan Merrill Bridge/FA

Quarterly Report   —   Form 10-Q

Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-Q        Quarterly Report                                    HTML   1.64M 
 2: EX-31.1     Certification -- §302 - SOA'02                      HTML     24K 
 3: EX-31.2     Certification -- §302 - SOA'02                      HTML     24K 
 4: EX-32.1     Certification -- §906 - SOA'02                      HTML     22K 
 5: EX-32.2     Certification -- §906 - SOA'02                      HTML     22K 
11: R1          Document and Entity Information                     HTML     74K 
12: R2          Balance Sheets                                      HTML     85K 
13: R3          Statements of Operations                            HTML    101K 
14: R4          Statements of Changes in Members' Capital           HTML     42K 
15: R5          Statements of Changes in Members' Capital           HTML     22K 
                (Parenthetical)                                                  
16: R6          Statements of Cash Flows                            HTML    106K 
17: R7          Organization and Limited Liability Company Matters  HTML     26K 
18: R8          Summary of Significant Accounting Policies          HTML    109K 
19: R9          Notes Receivable, Net                               HTML     22K 
20: R10         Investments in equipment and leases, net            HTML    111K 
21: R11         Allowance for Credit Losses                         HTML    116K 
22: R12         Related Party Transactions                          HTML     47K 
23: R13         Non-Recourse Debt                                   HTML     45K 
24: R14         Borrowing Facilities                                HTML     22K 
25: R15         Commitments and contingencies                       HTML     22K 
26: R16         Members' Capital                                    HTML     43K 
27: R17         Fair Value Measurements                             HTML    227K 
28: R18         Summary of Significant Accounting Policies          HTML    142K 
                (Policy)                                                         
29: R19         Summary of Significant Accounting Policies          HTML     78K 
                (Tables)                                                         
30: R20         Investments in equipment and leases, net (Tables)   HTML    114K 
31: R21         Allowance for Credit Losses (Tables)                HTML    118K 
32: R22         Related Party Transactions (Tables)                 HTML     42K 
33: R23         Non-Recourse Debt (Tables)                          HTML     42K 
34: R24         Members' Capital (Tables)                           HTML     40K 
35: R25         Fair Value Measurements (Tables)                    HTML    229K 
36: R26         Organization and Limited Liability Company Matters  HTML     55K 
                (Narrative) (Details)                                            
37: R27         Summary of Significant Accounting Policies          HTML     96K 
                (Narrative) (Details)                                            
38: R28         Summary of Significant Accounting Policies          HTML     53K 
                (Summary of Geographic Information Relating to                   
                Sources, by Nation, of Partnership's Total Revenue               
                and Long-Lived Assets) (Details)                                 
39: R29         Notes Receivable, Net (Narrative) (Details)         HTML     30K 
40: R30         Investments in equipment and leases, net            HTML     38K 
                (Narrative) (Details)                                            
41: R31         Investments in equipment and leases, net            HTML     34K 
                (Investment in Leases) (Details)                                 
42: R32         Investments in equipment and leases, net (Property  HTML     64K 
                on Operating Leases) (Details)                                   
43: R33         Investments in equipment and leases, net (Future    HTML     35K 
                Minimum Lease Payments Receivable) (Details)                     
44: R34         Investments in equipment and leases, net (Schedule  HTML     53K 
                of Useful Lives of Lease Assets) (Details)                       
45: R35         Allowance for Credit Losses (Narrative) (Details)   HTML     24K 
46: R36         Allowance for Credit Losses (Activity in Allowance  HTML     25K 
                for Credit Losses) (Details)                                     
47: R37         Allowance for Credit Losses (Financing Receivables  HTML     30K 
                by Credit Quality Indicator and by Class)                        
                (Details)                                                        
48: R38         Allowance for Credit Losses (Net Investment in      HTML     41K 
                Financing Receivables by Age) (Details)                          
49: R39         Related Party Transactions (Affiliates Earned       HTML     28K 
                Commissions and Billed for Reimbursements Pursuant               
                to Operating Agreement) (Details)                                
50: R40         Non-Recourse Debt (Narrative) (Details)             HTML     33K 
51: R41         Non-Recourse Debt (Future Minimum Payments of       HTML     69K 
                Non-Recourse Debt) (Details)                                     
52: R42         Borrowing Facilities (Narrative) (Details)          HTML     21K 
53: R43         Commitments and Contingencies (Narrative)           HTML     23K 
                (Details)                                                        
54: R44         Members' Capital (Narrative) (Details)              HTML     42K 
55: R45         Members' Capital (Distributions to Other Members)   HTML     30K 
                (Details)                                                        
56: R46         Fair Value Measurements (Narrative) (Details)       HTML     33K 
57: R47         Fair Value Measurements (Warrants Measured on       HTML     25K 
                Recurring Basis) (Details)                                       
58: R48         Fair Value Measurements (Investment Securities      HTML     27K 
                Measured on Recurring Basis) (Details)                           
59: R49         Fair Value Measurements (Fair Value Measurement of  HTML     34K 
                Assets and Liabilities Measured at Fair Value on a               
                Non-Recurring Basis) (Details)                                   
60: R50         Fair Value Measurements (Summary of Valuation       HTML     64K 
                Techniques and Significant Unobservable Inputs                   
                Used) (Details)                                                  
61: R51         Fair Value Measurements (Estimated Fair Values of   HTML     57K 
                Financial Instruments) (Details)                                 
64: XML         IDEA XML File -- Filing Summary                      XML    121K 
62: XML         XBRL Instance -- tmb-20220630x10q_htm                XML   2.19M 
63: EXCEL       IDEA Workbook of Financial Reports                  XLSX    122K 
 7: EX-101.CAL  XBRL Calculations -- tmb-20220630_cal                XML    177K 
 8: EX-101.DEF  XBRL Definitions -- tmb-20220630_def                 XML    483K 
 9: EX-101.LAB  XBRL Labels -- tmb-20220630_lab                      XML    887K 
10: EX-101.PRE  XBRL Presentations -- tmb-20220630_pre               XML    753K 
 6: EX-101.SCH  XBRL Schema -- tmb-20220630                          XSD    172K 
65: JSON        XBRL Instance as JSON Data -- MetaLinks              281±   439K 
66: ZIP         XBRL Zipped Folder -- 0001558370-22-013452-xbrl      Zip    266K

‘R16’   —   Members’ Capital

This is an IDEA Financial Report.  [ Alternative Formats ]

 
v3.22.2
Members' Capital
 6 Months Ended
Members' Capital [Abstract]  
Members' Capital

10. Members’ capital:

A total of 4,274,486 Units were issued and outstanding at both June 30, 2022 and December 31, 2021, including the 50 Units issued to the initial Member (Managing Member). The Fund was authorized to issue up to 15,000,000 Units in addition to the Units issued to the initial Member.

The Company has the right, exercisable at the Managing Member’s discretion, but not the obligation, to repurchase Units of a Unitholder who ceases to be a U.S. Citizen, for a price equal to 100% of the holder’s capital account. The Company is otherwise permitted, but not required, to repurchase Units upon a holder’s request. The repurchase of Fund units is made in accordance with Section 13 of the Amended and Restated Limited Liability Company Operating Agreement. The repurchase would be at the discretion of the Managing Member on terms it determines to be appropriate under given circumstances, in the event that the Managing Member deems such repurchase to be in the best interest of the Company; provided, the Company is never required to repurchase any Units. Upon the repurchase of any Units by the Fund, the tendered Units are cancelled. Units repurchased in prior periods were repurchased at amounts representing the original investment less cumulative distributions made to the Unitholder with respect to the Units. All Units repurchased during a quarter are deemed to be repurchased effective the last day of the preceding quarter, and are not deemed to be outstanding during, or entitled to allocations of net income, net loss or distributions for the quarter in which such repurchase occurs.

The Fund’s net income or net losses are to be allocated 100% to the members. From the commencement of the Fund until the initial closing date, net income and net loss were allocated 99% to the Managing Member and 1% to the initial members. Commencing with the initial closing date, net income and net loss are to be allocated 99.9% to the Other Members and 0.01% to the Managing Member.

Fund distributions are to be allocated 0.01% to the Managing Member and 99.99% to the Other Members. The Company commenced periodic distributions in the second quarter of 2014.

Distributions to the Other Members for the three and six months ended June 30, 2022 and 2021 were as follows (in thousands except Units and per Unit data):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

    

Three Months Ended

​

Six Months Ended

​

​

June 30, 

​

June 30, 

​

    

2022

    

2021

    

2022

    

2021

Distributions

​

$

748

​

$

748

​

$

1,496

​

$

1,496

Weighted average number of Units outstanding

​

 

4,274,486

​

 

4,274,486

​

 

4,274,486

​

 

4,274,486

Weighted average distributions per Unit

​

$

0.17

​

$

0.17

​

$

0.35

​

$

0.35

​

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-Q’ Filing    Date    Other Filings
Filed on:8/12/22
For Period end:6/30/22
12/31/2110-K
6/30/2110-Q
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Filing Submission 0001558370-22-013452   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)
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