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Customer Financing | 9 Months Ended
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Sep. 30, 2023
Customer Financing [Abstract] |
Customer Financing | Customer Financing Customer financing consisted of the following:
| September 30 2023 |  | December 31 2022
Financing receivables: |  |  |
Investment in sales-type/finance leases | $628 |  |  | $804 |
Notes | 115 |  |  | 385 |
Total financing receivables | 743 |  |  | 1,189 |
Less allowance for losses on receivables | 51 |  |  | 55 |
Financing receivables, net | 692 |  |  | 1,134 |
Operating lease equipment, at cost, less accumulated depreciation of $72 and $76 | 359 |  |  | 470 |
Total | $1,051 |  |  | $1,604 |
Financing arrangements typically range in terms from 1 to 12 years and may include options to extend or terminate. Certain leases include provisions to allow the lessee to purchase the underlying aircraft at a specified price. At September 30, 2023 and December 31, 2022, $54 and $405 were determined to be uncollectible financing receivables and placed on non-accrual status. The allowance for losses on receivables remained largely unchanged during the nine months ended September 30, 2023. Our financing receivable balances at September 30, 2023 by internal credit rating category and year of origination consisted of the following:
Rating categories | Current | 2022 | 2021 | 2020 | 2019 | Prior | Total
BBB |  |  | $2 |  |  |  | $26 |  | $28 |
BB | $56 |  | $32 |  | 203 |  | $105 |  | $37 |  | 116 |  | 549 |
B |  |  |  |  | 16 |  | 96 |  | 112 |
CCC | 10 |  |  | 35 |  |  |  | 9 |  | 54 |
Total carrying value of financing receivables | $66 |  | $32 |  | $240 |  | $105 |  | $53 |  | $247 |  | $743 |
At September 30, 2023, our allowance for losses related to receivables with ratings of CCC, B, BB, and BBB. We applied default rates that averaged 100.0%, 0.0%, 2.5%, and 0.1%, respectively, to the exposure associated with those receivables. Customer Financing Exposure The majority of our gross customer financing portfolio is concentrated in the following aircraft models:
| September 30 2023 |  | December 31 2022
717 Aircraft ($0 and $45 accounted for as operating leases) | $485 |  |  | $563 |
747-8 Aircraft (accounted for as sales-type/finance leases) | 131 |  |  | 394 |
737 Aircraft ($149 and $174 accounted for as operating leases) | 168 |  |  | 186 |
777 Aircraft (accounted for as operating leases) | 197 |  |  | 209 |
MD-80 Aircraft (accounted for as sales-type/finance leases) |  |  | 96 |
757 Aircraft (accounted for as sales-type/finance leases) | 63 |  |  | 107 |
747-400 Aircraft (accounted for as sales-type/finance leases) | 44 |  |  | 46 |
Operating lease equipment primarily includes large commercial jet aircraft. Lease income recorded in revenue on the Condensed Consolidated Statements of Operations for the nine months ended September 30, 2023 and 2022 included $43 and $52 from sales-type/finance leases, and $45 and $50 from operating leases, of which $4 and $6 related to variable operating lease payments. Lease income recorded in revenue on the Condensed Consolidated Statements of Operations for the three months ended September 30, 2023 and 2022 included $14 and $16 from sales-type/finance leases, and $18 and $18 from operating leases, of which $3 and $1 related to variable operating lease payments. Profit at the commencement of sales-type leases was recorded in revenue for the nine months ended September 30, 2023 and 2022 in the amount of $24 and $16. Customer financing interest income received was $122 and $10 for the nine months ended September 30, 2023 and 2022. Profit at the commencement of sales-type leases was recorded in revenue for the three months ended September 30, 2023 and 2022 in the amount of $4 and $4. Customer financing interest income received was $60 and $4 for the three months ended September 30, 2023 and 2022.

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- Definition Customer Financing [Abstract] + References No definition available. + Details
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- Definition The entire disclosure for customer financing receivables. Examples of customer financing receivables include, but are not limited to, notes receivable, finance lease receivables, and operating lease equipment less allowance for losses on receivables. + References No definition available. + Details
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