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LEASES | 3 Months Ended
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Mar. 31, 2021
Leases [Abstract] |
LEASES | LEASES Leases as Lessor The components of lease income were as follows:
|  | Three months ended March 31,
|  | 2021 |  | 2020
|  | (In thousands)
Operating leases |  |  |  |
Lease income related to ChoiceLease |  | $ | 389,611 |  |  | $ | 399,588 |
Lease income related to commercial rental (1) |  | 210,284 |  |  | 195,695 |
Sales-type leases |  |  |  |
Interest income related to net investment in leases |  | $ | 14,415 |  |  | $ | 11,644 |
Variable lease income excluding commercial rental (1) |  | $ | 71,993 |  |  | $ | 65,507 |
———————————— (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, which are included in "Receivables, net" and "Sales-type leases and other assets" in the Condensed Consolidated Balance Sheets, were as follows:
| March 31, 2021 |  | December 31, 2020 |  |
| (In thousands)
Net investment in the lease — lease payment receivable | $ | 594,469 |  |  | $ | 589,120 |  |  |
Net investment in the lease — unguaranteed residual value in assets | 45,429 |  |  | 44,704 |  |  |
| 639,898 |  |  | 633,824 |  |  |
Estimated loss allowance | (4,025) |  |  | (4,025) |  |  |
Total | $ | 635,873 |  |  | $ | 629,799 |  |  |
LEASES | LEASES Leases as Lessor The components of lease income were as follows:
|  | Three months ended March 31,
|  | 2021 |  | 2020
|  | (In thousands)
Operating leases |  |  |  |
Lease income related to ChoiceLease |  | $ | 389,611 |  |  | $ | 399,588 |
Lease income related to commercial rental (1) |  | 210,284 |  |  | 195,695 |
Sales-type leases |  |  |  |
Interest income related to net investment in leases |  | $ | 14,415 |  |  | $ | 11,644 |
Variable lease income excluding commercial rental (1) |  | $ | 71,993 |  |  | $ | 65,507 |
———————————— (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, which are included in "Receivables, net" and "Sales-type leases and other assets" in the Condensed Consolidated Balance Sheets, were as follows:
| March 31, 2021 |  | December 31, 2020 |  |
| (In thousands)
Net investment in the lease — lease payment receivable | $ | 594,469 |  |  | $ | 589,120 |  |  |
Net investment in the lease — unguaranteed residual value in assets | 45,429 |  |  | 44,704 |  |  |
| 639,898 |  |  | 633,824 |  |  |
Estimated loss allowance | (4,025) |  |  | (4,025) |  |  |
Total | $ | 635,873 |  |  | $ | 629,799 |  |  |

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- Definition The entire disclosure for lessor's operating leases. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 10 -Section 55 -Paragraph 40 -Subparagraph Note 1 -URI http://asc.fasb.org/extlink&oid=121580752&loc=d3e38371-112697 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 10 -Section 55 -Paragraph 40 -Subparagraph Note 3 -URI http://asc.fasb.org/extlink&oid=121580752&loc=d3e38371-112697 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 30 -URI http://asc.fasb.org/subtopic&trid=77888252 + Details
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