XML 26 R15.htm IDEA: XBRL DOCUMENT
v3.24.1.u1

LEASES | 3 Months Ended
--- | ---
Mar. 31, 2024
Leases [Abstract] |
LEASES | LEASES The components of revenue from leases were as follows:
|  |  | Three months ended March 31,
(In millions) |  |  | 2024 |  | 2023
Operating leases |  |  |  |  |
Lease income related to ChoiceLease |  |  | $ | 381 |  |  | $ | 360 |
Lease income related to commercial rental (1) |  |  | $ | 219 |  |  | $ | 288 |
Sales-type leases |  |  |  |  |
Interest income related to net investment in leases |  |  | $ | 17 |  |  | $ | 15 |
Variable lease income excluding commercial rental (1) |  |  | $ | 72 |  |  | $ | 72 |
———————————— (1)Lease income related to commercial rental includes both fixed and variable lease income. Variable lease income is approximately 15% of total commercial rental income. 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 millions) |  | March 31, 2024 |  | December 31, 2023 |  |
Net investment in the lease — lease payment receivable |  | $ | 750 |  |  | $ | 723 |  |  |
Net investment in the lease — unguaranteed residual value in assets |  | 45 |  |  | 43 |  |  |
|  | 795 |  |  | 766 |  |  |
Estimated loss allowance |  | (3) |  |  | (4) |  |  |
Total |  | $ | 792 |  |  | $ | 762 |  |  |
LEASES | LEASES The components of revenue from leases were as follows:
|  |  | Three months ended March 31,
(In millions) |  |  | 2024 |  | 2023
Operating leases |  |  |  |  |
Lease income related to ChoiceLease |  |  | $ | 381 |  |  | $ | 360 |
Lease income related to commercial rental (1) |  |  | $ | 219 |  |  | $ | 288 |
Sales-type leases |  |  |  |  |
Interest income related to net investment in leases |  |  | $ | 17 |  |  | $ | 15 |
Variable lease income excluding commercial rental (1) |  |  | $ | 72 |  |  | $ | 72 |
———————————— (1)Lease income related to commercial rental includes both fixed and variable lease income. Variable lease income is approximately 15% of total commercial rental income. 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 millions) |  | March 31, 2024 |  | December 31, 2023 |  |
Net investment in the lease — lease payment receivable |  | $ | 750 |  |  | $ | 723 |  |  |
Net investment in the lease — unguaranteed residual value in assets |  | 45 |  |  | 43 |  |  |
|  | 795 |  |  | 766 |  |  |
Estimated loss allowance |  | (3) |  |  | (4) |  |  |
Total |  | $ | 792 |  |  | $ | 762 |  |  |

X
- References No definition available. + Details
Name: | us-gaap_LeasesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure of lessor's sales-type leases. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//842-30/tableOfContent + Details
Name: | us-gaap_LessorSalesTypeLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for lessor's operating leases. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//842-30/tableOfContent + Details
Name: | us-gaap_OperatingLeasesOfLessorDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration