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EQUIPMENT SUBJECT TO OPERATING LEASES

12 Months Ended

Dec. 31, 2017

Property Subject to or Available for Operating Lease, Net [Abstract]

EQUIPMENT SUBJECT TO OPERATING LEASES

EQUIPMENT SUBJECT TO OPERATING LEASES

Operating leases arise from leasing the Company’s products to customers.  Initial non-cancellable lease terms typically range up to 90 months.  The net book value of equipment subject to operating leases was approximately $52 million and $67 million (net of accumulated depreciation of approximately $19 million and $16 million) at December 31, 2017 and 2016, respectively, and is included in Other assets on the Company’s Consolidated Balance Sheet.  The equipment is depreciated on a straight-line basis over its estimated useful life.

Future minimum lease payments to be received under non-cancellable operating leases with lease terms in excess of one year are as follows (in millions):

Years ending December 31,
2018	$	7.5
2019	4.4
2020	2.5
2021	1.4
2022	0.4
Thereafter	—
	$	16.2

The Company received approximately $16 million and $14 million of rental income from assets under operating leases during 2017 and 2016, respectively, none of which represented contingent rental payments.

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- Definition

The entire disclosure for operating leases of a lessor. This may include a general description of lessor's leasing arrangements for operating leases, including the basis on which contingent rental payments are determined, the existence and terms of renewal or purchase options and escalation clauses, restrictions imposed by lease arrangements, such as those concerning dividends, additional debt, and further leasing, rent holidays, rent concessions, or leasehold improvement incentives and unusual provisions or conditions.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 840
-SubTopic 20
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6453916&loc=d3e41457-112716

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 840
-SubTopic 20
-Section 45
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6453916&loc=d3e41460-112716

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 840
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6452767&loc=d3e37051-112695

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 932
-SubTopic 235
-Section 50
-Paragraph 13
-URI http://asc.fasb.org/extlink&oid=68064819&loc=d3e61901-109447

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 840
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6452767&loc=d3e37045-112695

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X

- References

No definition available.

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