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LEASES | 6 Months Ended
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Jun. 30, 2020
Leases [Abstract] |
LEASES | LEASES Leases as Lessor The components of lease income were as follows:
|  | Three months ended June 30, |  |  |  | Six months ended June 30, |  |
|  | 2020 |  | 2019 |  | 2020 |  | 2019
|  | (In thousands) |  |  |  |  |  |
Operating leases |  |  |  |  |  |  |  |
Lease income related to ChoiceLease |  | $ | 385,639 |  |  | $ | 374,550 |  |  | $ | 785,227 |  |  | $ | 734,859 |
Lease income related to commercial rental (1) |  | 161,220 |  |  | 239,068 |  |  | 356,915 |  |  | 458,240 |
Sales type leases |  |  |  |  |  |  |  |
Interest income related to net investment in leases |  | $ | 12,080 |  |  | $ | 10,432 |  |  | $ | 23,724 |  |  | $ | 21,888 |
Variable lease income excluding commercial rental (1) |  | $ | 58,882 |  |  | $ | 58,409 |  |  | $ | 124,389 |  |  | $ | 113,848 |
———————————— (1)Lease income related to commercial rental includes both fixed and variable lease income. Variable lease income is approximately 15% to 25% of total commercial rental income based on management's internal estimates. The components of net investment in sales-type leases were as follows:
| June 30, 2020 |  | December 31, 2019 |  |
| (In thousands) |  |  |  |
Net investment in the lease — lease payment receivable | $ | 561,795 |  |  | $ | 553,076 |  |  |
Net investment in the lease — unguaranteed residual value in assets | 41,013 |  |  | 44,952 |  |  |
| 602,808 |  |  | 598,028 |  |  |
Estimated loss allowance (1) | (3,226) |  |  | (673) |  |  |
Total (2) | $ | 599,582 |  |  | $ | 597,355 |  |  |
———————————— (1)Amount as of June 30, 2020 reflects an immaterial cumulative-effect adjustment in connection with the adoption of the new credit loss standard (refer to Note 2 for further information). (2)Net investment in the sales-type lease are included in "Receivables, net" and "Sales-type leases and other assets" in the Condensed Consolidated Balance Sheets.
LEASES | LEASES Leases as Lessor The components of lease income were as follows:
|  | Three months ended June 30, |  |  |  | Six months ended June 30, |  |
|  | 2020 |  | 2019 |  | 2020 |  | 2019
|  | (In thousands) |  |  |  |  |  |
Operating leases |  |  |  |  |  |  |  |
Lease income related to ChoiceLease |  | $ | 385,639 |  |  | $ | 374,550 |  |  | $ | 785,227 |  |  | $ | 734,859 |
Lease income related to commercial rental (1) |  | 161,220 |  |  | 239,068 |  |  | 356,915 |  |  | 458,240 |
Sales type leases |  |  |  |  |  |  |  |
Interest income related to net investment in leases |  | $ | 12,080 |  |  | $ | 10,432 |  |  | $ | 23,724 |  |  | $ | 21,888 |
Variable lease income excluding commercial rental (1) |  | $ | 58,882 |  |  | $ | 58,409 |  |  | $ | 124,389 |  |  | $ | 113,848 |
———————————— (1)Lease income related to commercial rental includes both fixed and variable lease income. Variable lease income is approximately 15% to 25% of total commercial rental income based on management's internal estimates. The components of net investment in sales-type leases were as follows:
| June 30, 2020 |  | December 31, 2019 |  |
| (In thousands) |  |  |  |
Net investment in the lease — lease payment receivable | $ | 561,795 |  |  | $ | 553,076 |  |  |
Net investment in the lease — unguaranteed residual value in assets | 41,013 |  |  | 44,952 |  |  |
| 602,808 |  |  | 598,028 |  |  |
Estimated loss allowance (1) | (3,226) |  |  | (673) |  |  |
Total (2) | $ | 599,582 |  |  | $ | 597,355 |  |  |
———————————— (1)Amount as of June 30, 2020 reflects an immaterial cumulative-effect adjustment in connection with the adoption of the new credit loss standard (refer to Note 2 for further information). (2)Net investment in the sales-type lease are included in "Receivables, net" and "Sales-type leases and other assets" in the Condensed Consolidated Balance Sheets.

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