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LEASES (Tables)
 9 Months Ended
Sep. 30, 2020
Leases [Abstract]  
Schedule of Lease Income - Operating
The components of lease income were as follows:
Three months ended September 30,Nine months ended September 30,
 2020201920202019
 (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 
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(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.
Schedule of Lease Income - Sales Type
The components of net investment in sales-type leases were as follows:
September 30, 2020December 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 assets41,842 44,952 
609,713 598,028 
Estimated loss allowance (1)
(2,713)(673)
Total (2)
$607,000 $597,355 
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(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.