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v3.22.2.2

LEASES | 9 Months Ended
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Sep. 30, 2022
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,
(In thousands) |  | 2022 |  | 2021 |  | 2022 |  | 2021
Operating leases |  |  |  |  |  |  |  |
Lease income related to ChoiceLease |  | $ | 367,009 |  |  | $ | 383,669 |  |  | $ | 1,127,391 |  |  | $ | 1,159,930 |
Lease income related to commercial rental (1) |  | 332,568 |  |  | 287,612 |  |  | 955,927 |  |  | 752,994 |
Sales-type leases |  |  |  |  |  |  |  |
Interest income related to net investment in leases |  | $ | 11,986 |  |  | $ | 10,925 |  |  | $ | 32,941 |  |  | $ | 36,380 |
Variable lease income excluding commercial rental (1) |  | $ | 80,688 |  |  | $ | 75,621 |  |  | $ | 226,030 |  |  | $ | 219,743 |
———————————— (1)Lease income related to commercial rental includes both fixed and variable lease income. Variable 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:
(In thousands) |  | September 30, 2022 |  | December 31, 2021 |  |
Net investment in the lease — lease payment receivable |  | $ | 537,090 |  |  | $ | 583,008 |  |  |
Net investment in the lease — unguaranteed residual value in assets |  | 36,789 |  |  | 46,740 |  |  |
|  | 573,879 |  |  | 629,748 |  |  |
Estimated loss allowance |  | (3,245) |  |  | (3,705) |  |  |
Total |  | $ | 570,634 |  |  | $ | 626,043 |  |  |
LEASES | LEASES Leases as Lessor The components of lease income were as follows:
|  | Three months ended September 30, |  | Nine months ended September 30,
(In thousands) |  | 2022 |  | 2021 |  | 2022 |  | 2021
Operating leases |  |  |  |  |  |  |  |
Lease income related to ChoiceLease |  | $ | 367,009 |  |  | $ | 383,669 |  |  | $ | 1,127,391 |  |  | $ | 1,159,930 |
Lease income related to commercial rental (1) |  | 332,568 |  |  | 287,612 |  |  | 955,927 |  |  | 752,994 |
Sales-type leases |  |  |  |  |  |  |  |
Interest income related to net investment in leases |  | $ | 11,986 |  |  | $ | 10,925 |  |  | $ | 32,941 |  |  | $ | 36,380 |
Variable lease income excluding commercial rental (1) |  | $ | 80,688 |  |  | $ | 75,621 |  |  | $ | 226,030 |  |  | $ | 219,743 |
———————————— (1)Lease income related to commercial rental includes both fixed and variable lease income. Variable 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:
(In thousands) |  | September 30, 2022 |  | December 31, 2021 |  |
Net investment in the lease — lease payment receivable |  | $ | 537,090 |  |  | $ | 583,008 |  |  |
Net investment in the lease — unguaranteed residual value in assets |  | 36,789 |  |  | 46,740 |  |  |
|  | 573,879 |  |  | 629,748 |  |  |
Estimated loss allowance |  | (3,245) |  |  | (3,705) |  |  |
Total |  | $ | 570,634 |  |  | $ | 626,043 |  |  |

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