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LEASES | 9 Months Ended
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Sep. 30, 2020
Leases [Abstract] |
LEASES | LEASES Leases as Lessor The components of lease income were as follows:
|  | Three months ended September 30, |  | Nine months ended September 30,
|  | 2020 |  | 2019 |  | 2020 |  | 2019
|  | (In thousands)
Operating leases |  |  |  |  |  |  |  |
Lease income related to ChoiceLease |  | $ | 387,867 |  |  | $ | 381,170 |  |  | $ | 1,173,094 |  |  | $ | 1,116,029 |
Lease income related to commercial rental (1) |  | 208,489 |  |  | 249,941 |  |  | 565,404 |  |  | 708,181 |
Sales-type leases |  |  |  |  |  |  |  |
Interest income related to net investment in leases |  | $ | 12,836 |  |  | $ | 11,169 |  |  | $ | 36,560 |  |  | $ | 33,057 |
Variable lease income excluding commercial rental (1) |  | $ | 73,740 |  |  | $ | 69,641 |  |  | $ | 198,129 |  |  | $ | 183,489 |
———————————— (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:
| September 30, 2020 |  | December 31, 2019 |  |
| (In thousands)
Net investment in the lease — lease payment receivable | $ | 567,871 |  |  | $ | 553,076 |  |  |
Net investment in the lease — unguaranteed residual value in assets | 41,842 |  |  | 44,952 |  |  |
| 609,713 |  |  | 598,028 |  |  |
Estimated loss allowance (1) | (2,713) |  |  | (673) |  |  |
Total (2) | $ | 607,000 |  |  | $ | 597,355 |  |  |
———————————— (1)Amount as of September 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 September 30, |  | Nine months ended September 30,
|  | 2020 |  | 2019 |  | 2020 |  | 2019
|  | (In thousands)
Operating leases |  |  |  |  |  |  |  |
Lease income related to ChoiceLease |  | $ | 387,867 |  |  | $ | 381,170 |  |  | $ | 1,173,094 |  |  | $ | 1,116,029 |
Lease income related to commercial rental (1) |  | 208,489 |  |  | 249,941 |  |  | 565,404 |  |  | 708,181 |
Sales-type leases |  |  |  |  |  |  |  |
Interest income related to net investment in leases |  | $ | 12,836 |  |  | $ | 11,169 |  |  | $ | 36,560 |  |  | $ | 33,057 |
Variable lease income excluding commercial rental (1) |  | $ | 73,740 |  |  | $ | 69,641 |  |  | $ | 198,129 |  |  | $ | 183,489 |
———————————— (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:
| September 30, 2020 |  | December 31, 2019 |  |
| (In thousands)
Net investment in the lease — lease payment receivable | $ | 567,871 |  |  | $ | 553,076 |  |  |
Net investment in the lease — unguaranteed residual value in assets | 41,842 |  |  | 44,952 |  |  |
| 609,713 |  |  | 598,028 |  |  |
Estimated loss allowance (1) | (2,713) |  |  | (673) |  |  |
Total (2) | $ | 607,000 |  |  | $ | 597,355 |  |  |
———————————— (1)Amount as of September 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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