Lease Receivable Lease Receivable

3 Months Ended

Mar. 28, 2020

6. Lease Receivable

The Company recognizes revenue and costs, as well as a lease receivable, at the time embedded sales-type leases within its deferred equipment agreements commence. Lease revenue related to both operating-type and sales-type leases for the three months ended March 28, 2020 and March 30, 2019 was approximately $10.0 million and $12.0 million, respectively, and is included within product revenue in the accompanying condensed consolidated statement of operations. Costs related to embedded leases within the Company’s deferred equipment agreements are included in cost of goods sold in the accompanying condensed consolidated statements of operations.

Lease receivable consists of the following (in thousands):



	March 28, 2020			December 28, 2019
Lease receivable	$	72,315		$	70,589
Allowance for credit loss	(181		)	(403		)
Lease receivable, net	72,134			70,186
Less: Current portion of lease receivable	(20,454		)	(20,250		)
Lease receivable, noncurrent	$	51,680		$	49,936

As of March 28, 2020, estimated future maturities of customer sales-type lease receivables for each of the following fiscal years are as follows (in thousands):



Fiscal year	Amount
2020 (balance of year)	$	16,083
2021	17,911
2022	14,928
2023	10,792
2024	7,240
Thereafter	5,361
Total	$	72,315

Estimated future operating lease payments expected to be received from customers under deferred equipment agreements are not material as of March 28, 2020.