6. Lease Receivable

The Company adopted ASC 842, the new lease accounting standard, effective as of December 30, 2018. Among other things, the Company’s adoption of ASC 842 resulted in changes to the classification of certain embedded leases within its deferred equipment agreements from operating to sales-type leases. As a result, the Company now recognizes revenue and costs, as well as a lease receivable, at the time the lease commences pursuant to deferred equipment agreements containing embedded sales-type leases. Revenue and costs related to embedded leases within the Company’s deferred equipment agreements are included in product revenue and cost of goods sold, respectively. See “Recently Adopted Accounting Pronouncements” under Note 2 to these condensed consolidated financial statements for additional information related to the Company’s adoption of ASC 842.

Lease receivable consists of the following (in thousands):



	March 30, 2019
Lease receivable	$	61,161
Allowance for credit loss	(335		)
Lease receivable, net	60,826
Less: Current portion of lease receivable	(19,677		)
Lease receivable, noncurrent	$	41,149

As of March 30, 2019, estimated future maturities of customer sales-type lease receivables for each of the following fiscal years are as follows (in thousands):



Fiscal year	Maturities of Customer Lease Receivables
2019 (balance of year)	$	16,617
2020	15,820
2021	9,838
2022	8,124
2023	5,196
Thereafter	5,231
Total	$	60,826

Estimated future operating lease payments expected to be received from customers under deferred equipment agreements are not material as of March 30, 2019.