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LEASES (Tables) | 9 Months Ended
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Sep. 30, 2024
Leases [Abstract] |
Schedule of Components of Revenue from Leases | The components of lease income were as follows:
|  | Three months ended September 30, |  | Nine months ended September 30,
(In millions) |  | 2024 |  | 2023 |  | 2024 |  | 2023
Operating leases |  |  |  |  |  |  |  |
Lease income related to ChoiceLease |  | $ | 362 |  |  | $ | 375 |  |  | $ | 1,102 |  |  | $ | 1,103 |
Lease income related to commercial rental (1) |  | $ | 240 |  |  | $ | 281 |  |  | $ | 691 |  |  | $ | 856 |
Sales-type leases |  |  |  |  |  |  |  |
Interest income related to net investment in leases |  | $ | 18 |  |  | $ | 14 |  |  | $ | 54 |  |  | $ | 40 |
Variable lease income excluding commercial rental (1) |  | $ | 96 |  |  | $ | 74 |  |  | $ | 267 |  |  | $ | 216 |
———————————— (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 based on management's internal estimates.
Schedule of Components of Net Investment in Leases | 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) |  | September 30, 2024 |  | December 31, 2023 |  |
Net investment in the lease — lease payment receivable |  | $ | 785 |  |  | $ | 723 |  |  |
Net investment in the lease — unguaranteed residual value in assets |  | 48 |  |  | 43 |  |  |
|  | 833 |  |  | 766 |  |  |
Estimated loss allowance |  | (3) |  |  | (4) |  |  |
Total |  | $ | 830 |  |  | $ | 762 |  |  |

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