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Finance Assets and Lessor Operating Leases (Tables) | 6 Months Ended
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Jun. 30, 2024
Receivables [Abstract] |
Schedule of Financing Receivables | Finance receivables consisted of the following:
| June 30, 2024 |  | December 31, 2023
| North America |  | International |  | Total |  | North America |  | International |  | Total
Sales-type lease receivables |  |  |  |  |  |  |  |  |  |  |
Gross finance receivables | $ | 975,820 |  |  | $ | 124,799 |  |  | $ | 1,100,619 |  |  | $ | 987,743 |  |  | $ | 143,466 |  |  | $ | 1,131,209 |
Unguaranteed residual values | 37,395 |  |  | 6,566 |  |  | 43,961 |  |  | 38,059 |  |  | 7,211 |  |  | 45,270 |
Unearned income | (258,941) |  |  | (38,599) |  |  | (297,540) |  |  | (253,711) |  |  | (42,847) |  |  | (296,558) |
Allowance for credit losses | (13,096) |  |  | (2,285) |  |  | (15,381) |  |  | (13,942) |  |  | (2,786) |  |  | (16,728) |
Net investment in sales-type lease receivables | 741,178 |  |  | 90,481 |  |  | 831,659 |  |  | 758,149 |  |  | 105,044 |  |  | 863,193 |
Loan receivables |  |  |  |  |  |  |  |  |  |  |
Loan receivables | 324,939 |  |  | 18,471 |  |  | 343,410 |  |  | 342,062 |  |  | 17,865 |  |  | 359,927 |
Allowance for credit losses | (7,221) |  |  | (157) |  |  | (7,378) |  |  | (6,346) |  |  | (153) |  |  | (6,499) |
Net investment in loan receivables | 317,718 |  |  | 18,314 |  |  | 336,032 |  |  | 335,716 |  |  | 17,712 |  |  | 353,428 |
Net investment in finance receivables | $ | 1,058,896 |  |  | $ | 108,795 |  |  | $ | 1,167,691 |  |  | $ | 1,093,865 |  |  | $ | 122,756 |  |  | $ | 1,216,621 |
Schedule of Sales-type Lease Maturity | Maturities of gross finance receivables at June 30, 2024 were as follows:
| Sales-type Lease Receivables |  | Loan Receivables
| North America |  | International |  | Total |  | North America |  | International |  | Total
Remainder 2024 | $ | 188,619 |  |  | $ | 41,375 |  |  | $ | 229,994 |  |  | $ | 202,892 |  |  | $ | 18,471 |  |  | $ | 221,363 |
2025 | 317,823 |  |  | 39,138 |  |  | 356,961 |  |  | 44,977 |  |  | — |  |  | 44,977 |
2026 | 238,192 |  |  | 24,029 |  |  | 262,221 |  |  | 30,891 |  |  | — |  |  | 30,891 |
2027 | 149,506 |  |  | 13,319 |  |  | 162,825 |  |  | 24,404 |  |  | — |  |  | 24,404 |
2028 | 69,320 |  |  | 5,532 |  |  | 74,852 |  |  | 15,975 |  |  | — |  |  | 15,975 |
Thereafter | 12,360 |  |  | 1,406 |  |  | 13,766 |  |  | 5,800 |  |  | — |  |  | 5,800 |
Total | $ | 975,820 |  |  | $ | 124,799 |  |  | $ | 1,100,619 |  |  | $ | 324,939 |  |  | $ | 18,471 |  |  | $ | 343,410 |
Schedule of Loan Receivable Maturity | Maturities of gross finance receivables at June 30, 2024 were as follows:
| Sales-type Lease Receivables |  | Loan Receivables
| North America |  | International |  | Total |  | North America |  | International |  | Total
Remainder 2024 | $ | 188,619 |  |  | $ | 41,375 |  |  | $ | 229,994 |  |  | $ | 202,892 |  |  | $ | 18,471 |  |  | $ | 221,363 |
2025 | 317,823 |  |  | 39,138 |  |  | 356,961 |  |  | 44,977 |  |  | — |  |  | 44,977 |
2026 | 238,192 |  |  | 24,029 |  |  | 262,221 |  |  | 30,891 |  |  | — |  |  | 30,891 |
2027 | 149,506 |  |  | 13,319 |  |  | 162,825 |  |  | 24,404 |  |  | — |  |  | 24,404 |
2028 | 69,320 |  |  | 5,532 |  |  | 74,852 |  |  | 15,975 |  |  | — |  |  | 15,975 |
Thereafter | 12,360 |  |  | 1,406 |  |  | 13,766 |  |  | 5,800 |  |  | — |  |  | 5,800 |
Total | $ | 975,820 |  |  | $ | 124,799 |  |  | $ | 1,100,619 |  |  | $ | 324,939 |  |  | $ | 18,471 |  |  | $ | 343,410 |
Schedule of Past Due Financing Receivables | The aging of gross finance receivables was as follows:
| June 30, 2024
| Sales-type Lease Receivables |  | Loan Receivables |  |
| North America |  | International |  | North America |  | International |  | Total
Past due amounts 0 - 90 days | $ | 966,927 |  |  | $ | 123,377 |  |  | $ | 323,006 |  |  | $ | 18,360 |  |  | $ | 1,431,670 |
Past due amounts > 90 days | 8,893 |  |  | 1,422 |  |  | 1,933 |  |  | 111 |  |  | 12,359 |
Total | $ | 975,820 |  |  | $ | 124,799 |  |  | $ | 324,939 |  |  | $ | 18,471 |  |  | $ | 1,444,029 |
| December 31, 2023
| Sales-type Lease Receivables |  | Loan Receivables |  |
| North America |  | International |  | North America |  | International |  | Total
Past due amounts 0 - 90 days | $ | 977,744 |  |  | $ | 140,857 |  |  | $ | 339,789 |  |  | $ | 17,664 |  |  | $ | 1,476,054 |
Past due amounts > 90 days | 9,999 |  |  | 2,609 |  |  | 2,273 |  |  | 201 |  |  | 15,082 |
Total | $ | 987,743 |  |  | $ | 143,466 |  |  | $ | 342,062 |  |  | $ | 17,865 |  |  | $ | 1,491,136 |
Schedule of Allowance for Credit Losses and Write-offs 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, 2024 | $ | 13,942 |  |  | $ | 2,786 |  |  | $ | 6,346 |  |  | $ | 153 |  |  | $ | 23,227 |
Amounts charged to expense | 422 |  |  | (81) |  |  | 2,839 |  |  | 275 |  |  | 3,455 |
Write-offs | (2,134) |  |  | (402) |  |  | (2,836) |  |  | (268) |  |  | (5,640) |
Recoveries | 886 |  |  | 130 |  |  | 873 |  |  | — |  |  | 1,889 |
Other | (20) |  |  | (148) |  |  | (1) |  |  | (3) |  |  | (172) |
Balance at June 30, 2024 | $ | 13,096 |  |  | $ | 2,285 |  |  | $ | 7,221 |  |  | $ | 157 |  |  | $ | 22,759 |
| Sales-type Lease Receivables |  | Loan Receivables |  |
| North America |  | International |  | North America |  | International |  | Total
Balance at January 1, 2023 | $ | 14,131 |  |  | $ | 2,893 |  |  | $ | 4,787 |  |  | $ | 139 |  |  | $ | 21,950 |
Amounts charged to expense | 1,035 |  |  | 250 |  |  | 2,067 |  |  | 160 |  |  | 3,512 |
Write-offs | (2,374) |  |  | (779) |  |  | (2,668) |  |  | (145) |  |  | (5,966) |
Recoveries | 1,460 |  |  | 134 |  |  | 1,061 |  |  | — |  |  | 2,655 |
Other | 3 |  |  | (64) |  |  | 17 |  |  | 10 |  |  | (34) |
Balance at June 30, 2023 | $ | 14,255 |  |  | $ | 2,434 |  |  | $ | 5,264 |  |  | $ | 164 |  |  | $ | 22,117 |
The table below shows write-offs of gross finance receivables by year of origination.
| June 30, 2024
| Sales Type Lease Receivables |  | Loan Receivables |  | Total
| 2024 |  | 2023 |  | 2022 |  | 2021 |  | 2020 |  | Prior |  |
Write-offs | $ | 63 |  |  | $ | 542 |  |  | $ | 914 |  |  | $ | 487 |  |  | $ | 312 |  |  | $ | 218 |  |  | $ | 3,104 |  |  | $ | 5,640 |
| June 30, 2023
| Sales Type Lease Receivables |  | Loan Receivables |  | Total
| 2023 |  | 2022 |  | 2021 |  | 2020 |  | 2019 |  | Prior |  |
Write-offs | $ | 272 |  |  | $ | 688 |  |  | $ | 936 |  |  | $ | 601 |  |  | $ | 366 |  |  | $ | 290 |  |  | $ | 2,813 |  |  | $ | 5,966 |
Schedule of Financing Receivable Credit Quality Indicators | The table below shows gross finance receivables by relative risk class and year of origination based on the relative scores of the accounts within each class.
| June 30, 2024
| Sales Type Lease Receivables |  | Loan Receivables |  | Total
| 2024 |  | 2023 |  | 2022 |  | 2021 |  | 2020 |  | Prior |  |
Low | $ | 104,885 |  |  | $ | 237,572 |  |  | $ | 196,386 |  |  | $ | 126,665 |  |  | $ | 78,574 |  |  | $ | 58,928 |  |  | $ | 252,945 |  |  | $ | 1,055,955 |
Medium | 17,798 |  |  | 37,847 |  |  | 30,010 |  |  | 22,380 |  |  | 14,097 |  |  | 14,132 |  |  | 47,644 |  |  | 183,908 |
High | 1,967 |  |  | 4,628 |  |  | 3,750 |  |  | 3,177 |  |  | 2,086 |  |  | 1,165 |  |  | 12,637 |  |  | 29,410 |
Not Scored | 37,484 |  |  | 45,477 |  |  | 30,921 |  |  | 19,722 |  |  | 7,868 |  |  | 3,100 |  |  | 30,184 |  |  | 174,756 |
Total | $ | 162,134 |  |  | $ | 325,524 |  |  | $ | 261,067 |  |  | $ | 171,944 |  |  | $ | 102,625 |  |  | $ | 77,325 |  |  | $ | 343,410 |  |  | $ | 1,444,029 |
| December 31, 2023
| Sales Type Lease Receivables |  | Loan Receivables |  | Total
| 2023 |  | 2022 |  | 2021 |  | 2020 |  | 2019 |  | Prior |  |
Low | $ | 261,583 |  |  | $ | 222,947 |  |  | $ | 155,193 |  |  | $ | 96,986 |  |  | $ | 46,635 |  |  | $ | 27,164 |  |  | $ | 264,232 |  |  | $ | 1,074,740 |
Medium | 46,208 |  |  | 35,891 |  |  | 24,483 |  |  | 16,027 |  |  | 10,503 |  |  | 8,041 |  |  | 62,910 |  |  | 204,063 |
High | 4,455 |  |  | 4,217 |  |  | 2,554 |  |  | 1,853 |  |  | 740 |  |  | 862 |  |  | 7,487 |  |  | 22,168 |
Not Scored | 59,335 |  |  | 49,839 |  |  | 33,494 |  |  | 15,944 |  |  | 5,089 |  |  | 1,166 |  |  | 25,298 |  |  | 190,165 |
Total | $ | 371,581 |  |  | $ | 312,894 |  |  | $ | 215,724 |  |  | $ | 130,810 |  |  | $ | 62,967 |  |  | $ | 37,233 |  |  | $ | 359,927 |  |  | $ | 1,491,136 |
Schedule of Sales-type Lease, Lease Income | Lease income from sales-type leases, excluding variable lease payments, was as follows:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Profit recognized at commencement | $ | 27,245 |  |  | $ | 30,839 |  |  | $ | 54,206 |  |  | $ | 62,661 |
Interest income | 38,045 |  |  | 39,181 |  |  | 76,012 |  |  | 78,112 |
Total lease income from sales-type leases | $ | 65,290 |  |  | $ | 70,020 |  |  | $ | 130,218 |  |  | $ | 140,773 |
Schedule of Lessor, Payments to be Received | Maturities of these operating leases are as follows:
Remainder 2024 | $ | 9,818 |
2025 | 17,411 |
2026 | 16,389 |
2027 | 8,950 |
2028 | 1,173 |
Thereafter | 2,744 |
Total | $ | 56,485 |

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