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Finance Assets and Lessor Operating Leases (Tables)

9 Months Ended

Sep. 30, 2021

Receivables [Abstract]

Financing Receivables

Finance receivables consisted of the following:

			September 30, 2021																		December 31, 2020
			North America						International						Total						North America						International						Total
Sales-type lease receivables
Gross finance receivables			$	960,290					$	186,979					$	1,147,269					$	994,985					$	211,944					$	1,206,929
Unguaranteed residual values			37,827						11,101						48,928						36,405						12,140						48,545
Unearned income			(251,451)						(57,565)						(309,016)						(275,359)						(61,686)						(337,045)
Allowance for credit losses			(22,321)						(3,977)						(26,298)						(22,917)						(6,006)						(28,923)
Net investment in sales-type lease receivables			724,345						136,538						860,883						733,114						156,392						889,506
Loan receivables
Loan receivables			259,653						22,410						282,063						268,690						22,092						290,782
Allowance for credit losses			(3,373)						(236)						(3,609)						(6,484)						(462)						(6,946)
Net investment in loan receivables			256,280						22,174						278,454						262,206						21,630						283,836
Net investment in finance receivables			$	980,625					$	158,712					$	1,139,337					$	995,320					$	178,022					$	1,173,342

Sales-type Lease Maturity

Maturities of gross sales-type lease receivables and gross loan receivables at September 30, 2021 were as follows:

			Sales-type Lease Receivables																		Loan Receivables
			North America						International						Total						North America						International						Total
Remaining for year ending December 31, 2021			$	104,087					$	16,956					$	121,043					$	205,035					$	22,410					$	227,445
Year ending December 31, 2022			353,220						70,368						423,588						20,692						—						20,692
Year ending December 31, 2023			253,168						48,930						302,098						14,616						—						14,616
Year ending December 31, 2024			154,417						29,172						183,589						11,998						—						11,998
Year ending December 31, 2025			76,001						15,305						91,306						6,429						—						6,429
Thereafter			19,397						6,248						25,645						883						—						883
Total			$	960,290					$	186,979					$	1,147,269					$	259,653					$	22,410					$	282,063

Loan Receivable Maturity

Maturities of gross sales-type lease receivables and gross loan receivables at September 30, 2021 were as follows:

			Sales-type Lease Receivables																		Loan Receivables
			North America						International						Total						North America						International						Total
Remaining for year ending December 31, 2021			$	104,087					$	16,956					$	121,043					$	205,035					$	22,410					$	227,445
Year ending December 31, 2022			353,220						70,368						423,588						20,692						—						20,692
Year ending December 31, 2023			253,168						48,930						302,098						14,616						—						14,616
Year ending December 31, 2024			154,417						29,172						183,589						11,998						—						11,998
Year ending December 31, 2025			76,001						15,305						91,306						6,429						—						6,429
Thereafter			19,397						6,248						25,645						883						—						883
Total			$	960,290					$	186,979					$	1,147,269					$	259,653					$	22,410					$	282,063

Past Due Financing Receivables

The aging of gross finance receivables was as follows:

			September 30, 2021
			Sales-type Lease Receivables												Loan Receivables
			North America						International						North America						International						Total
Past due amounts 0 - 90 days			$	955,731					$	184,616					$	255,365					$	22,311					$	1,418,023
Past due amounts > 90 days			4,559						2,363						4,288						99						11,309
Total			$	960,290					$	186,979					$	259,653					$	22,410					$	1,429,332
Past due amounts > 90 days
Still accruing interest			$	2,046					$	872					$	—					$	—					$	2,918
Not accruing interest			2,513						1,491						4,288						99						8,391
Total			$	4,559					$	2,363					$	4,288					$	99					$	11,309

			December 31, 2020
			Sales-type Lease Receivables												Loan Receivables
			North America						International						North America						International						Total
Past due amounts 0 - 90 days			$	972,266					$	208,968					$	264,484					$	21,932					$	1,467,650
Past due amounts > 90 days			22,719						2,976						4,206						160						30,061
Total			$	994,985					$	211,944					$	268,690					$	22,092					$	1,497,711
Past due amounts > 90 days
Still accruing interest			$	5,128					$	463					$	1,797					$	59					$	7,447
Not accruing interest			17,591						2,513						2,409						101						22,614
Total			$	22,719					$	2,976					$	4,206					$	160					$	30,061

Allowance for Credit Losses on Financing Receivables

Activity in the allowance for credit losses for finance receivables was as follows:

			Sales-type Lease Receivables												Loan Receivables
			North America						International						North America						International						Total
Balance at January 1, 2021			$	22,917					$	6,006					$	6,484					$	462					$	35,869
Amounts charged to expense			1,959						(1,019)						(979)						33						(6)
Write-offs			(4,816)						(773)						(4,748)						(251)						(10,588)
Recoveries			2,256						(16)						2,615						3						4,858
Other			5						(221)						1						(11)						(226)
Balance at September 30, 2021			$	22,321					$	3,977					$	3,373					$	236					$	29,907
			Sales-type Lease Receivables												Loan Receivables
			North America						International						North America						International						Total
Balance at December 31, 2019			$	10,920					$	2,085					$	5,906					$	740					$	19,651
Cumulative effect of accounting change			9,271						1,750						(1,116)						(402)						9,503
Amounts charged to expense			10,009						1,314						6,792						429						18,544
Write-offs			(5,950)						(548)						(7,370)						(343)						(14,211)
Recoveries			1,488						91						2,399						1						3,979
Other			148						210						181						63						602
Balance at September 30, 2020			$	25,886					$	4,902					$	6,792					$	488					$	38,068

Financing Receivable Credit Quality Indicators

The table below shows the gross sales-type lease receivable and loan receivable balances by relative risk class and year of     origination based on the relative scores of the accounts within each class as of September 30, 2021 and December 31, 2020.

			September 30, 2021
			Sales Type Lease Receivables																																				Loan Receivables						Total
			2021						2020						2019						2018						2017						Prior
Low			$	211,706					$	206,401					$	174,389					$	111,650					$	44,059					$	17,317					$	194,859					$	960,381
Medium			35,526						38,343						36,921						22,257						10,355						5,551						49,385						198,338
High			4,169						5,335						4,744						3,013						1,050						830						5,265						24,406
Not Scored			65,099						56,985						51,426						27,735						10,079						2,329						32,554						246,207
Total			$	316,500					$	307,064					$	267,480					$	164,655					$	65,543					$	26,027					$	282,063					$	1,429,332
			December 31, 2020
			Sales Type Lease Receivables																																				Loan Receivables						Total
			2020						2019						2018						2017						2016						Prior
Low			$	256,573					$	228,344					$	165,244					$	87,346					$	30,518					$	12,249					$	192,971					$	973,245
Medium			50,785						49,946						37,168						21,388						6,470						2,375						61,625						229,757
High			6,182						5,396						3,782						1,974						1,051						143						4,518						23,046
Not Scored			80,854						77,362						48,704						24,291						7,813						971						31,668						271,663
Total			$	394,394					$	361,048					$	254,898					$	134,999					$	45,852					$	15,738					$	290,782					$	1,497,711

Sales-type Lease, Lease Income

Lease income from sales-type leases was as follows:

			Three Months Ended September 30,												Nine Months Ended September 30,
			2021						2020						2021						2020
Profit recognized at commencement (1)			$	28,394					$	29,169					$	92,756					$	80,348
Interest income			45,806						50,961						142,072						157,044
Total lease income from sales-type leases			$	74,200					$	80,130					$	234,828					$	237,392

(1) Lease contracts do not include variable lease payments.

Lessor, Payments to be Received

We also lease mailing equipment under operating leases with terms of one to five years. Maturities of these operating leases are as follows:

Remaining for year ending December 31, 2021			$	10,624
Year ending December 31, 2022			28,138
Year ending December 31, 2023			21,658
Year ending December 31, 2024			6,395
Year ending December 31, 2025			2,221
Thereafter			320
Total			$	69,356

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