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v3.26.1

Finance Assets and Lessor Operating Leases (Tables) | 3 Months Ended
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Mar. 31, 2026
Receivables [Abstract] |
Schedule of Financing Receivables | Finance receivables consisted of the following:
| March 31, 2026 |  | December 31, 2025
| North America |  | International |  | Total |  | North America |  | International |  | Total
Sales-type lease receivables |  |  |  |  |  |  |  |  |  |  |
Gross finance receivables | $ | 848,201 |  |  | $ | 104,844 |  |  | $ | 953,045 |  |  | $ | 870,453 |  |  | $ | 114,080 |  |  | $ | 984,533 |
Unguaranteed residual values | 31,824 |  |  | 5,666 |  |  | 37,490 |  |  | 33,047 |  |  | 6,063 |  |  | 39,110 |
Unearned income | (256,673) |  |  | (31,275) |  |  | (287,948) |  |  | (255,754) |  |  | (34,736) |  |  | (290,490) |
Allowance for credit losses | (9,674) |  |  | (1,912) |  |  | (11,586) |  |  | (10,281) |  |  | (1,947) |  |  | (12,228) |
Net investment in sales-type lease receivables | 613,678 |  |  | 77,323 |  |  | 691,001 |  |  | 637,465 |  |  | 83,460 |  |  | 720,925 |
Loan receivables |  |  |  |  |  |  |  |  |  |  |
Loan receivables | 365,426 |  |  | 3,060 |  |  | 368,486 |  |  | 384,846 |  |  | 2,152 |  |  | 386,998 |
Allowance for credit losses | (6,707) |  |  | (67) |  |  | (6,774) |  |  | (6,334) |  |  | (14) |  |  | (6,348) |
Net investment in loan receivables | 358,719 |  |  | 2,993 |  |  | 361,712 |  |  | 378,512 |  |  | 2,138 |  |  | 380,650 |
Net investment in finance receivables | $ | 972,397 |  |  | $ | 80,316 |  |  | $ | 1,052,713 |  |  | $ | 1,015,977 |  |  | $ | 85,598 |  |  | $ | 1,101,575 |
Schedule of Sales-type Lease Maturity | Maturities of gross finance receivables at March 31, 2026 were as follows:
| Sales-type Lease Receivables |  | Loan Receivables
| North America |  | International |  | Total |  | North America |  | International |  | Total
Remainder 2026 | $ | 258,655 |  |  | $ | 38,031 |  |  | $ | 296,686 |  |  | $ | 231,877 |  |  | $ | 3,060 |  |  | $ | 234,937 |
2027 | 271,638 |  |  | 31,463 |  |  | 303,101 |  |  | 61,104 |  |  | — |  |  | 61,104 |
2028 | 177,332 |  |  | 19,717 |  |  | 197,049 |  |  | 42,488 |  |  | — |  |  | 42,488 |
2029 | 96,322 |  |  | 10,543 |  |  | 106,865 |  |  | 23,783 |  |  | — |  |  | 23,783 |
2030 | 39,737 |  |  | 4,031 |  |  | 43,768 |  |  | 5,725 |  |  | — |  |  | 5,725 |
Thereafter | 4,517 |  |  | 1,059 |  |  | 5,576 |  |  | 449 |  |  | — |  |  | 449 |
Total | $ | 848,201 |  |  | $ | 104,844 |  |  | $ | 953,045 |  |  | $ | 365,426 |  |  | $ | 3,060 |  |  | $ | 368,486 |
Schedule of Loan Receivable Maturity | Maturities of gross finance receivables at March 31, 2026 were as follows:
| Sales-type Lease Receivables |  | Loan Receivables
| North America |  | International |  | Total |  | North America |  | International |  | Total
Remainder 2026 | $ | 258,655 |  |  | $ | 38,031 |  |  | $ | 296,686 |  |  | $ | 231,877 |  |  | $ | 3,060 |  |  | $ | 234,937 |
2027 | 271,638 |  |  | 31,463 |  |  | 303,101 |  |  | 61,104 |  |  | — |  |  | 61,104 |
2028 | 177,332 |  |  | 19,717 |  |  | 197,049 |  |  | 42,488 |  |  | — |  |  | 42,488 |
2029 | 96,322 |  |  | 10,543 |  |  | 106,865 |  |  | 23,783 |  |  | — |  |  | 23,783 |
2030 | 39,737 |  |  | 4,031 |  |  | 43,768 |  |  | 5,725 |  |  | — |  |  | 5,725 |
Thereafter | 4,517 |  |  | 1,059 |  |  | 5,576 |  |  | 449 |  |  | — |  |  | 449 |
Total | $ | 848,201 |  |  | $ | 104,844 |  |  | $ | 953,045 |  |  | $ | 365,426 |  |  | $ | 3,060 |  |  | $ | 368,486 |
Schedule of Past Due Financing Receivables | The aging of gross finance receivables was as follows:
| March 31, 2026
| Sales-type Lease Receivables |  | Loan Receivables |  |
| North America |  | International |  | North America |  | International |  | Total
Past due amounts 0 - 90 days | $ | 840,078 |  |  | $ | 102,236 |  |  | $ | 357,361 |  |  | $ | 2,966 |  |  | $ | 1,302,641 |
Past due amounts > 90 days | 8,123 |  |  | 2,608 |  |  | 8,065 |  |  | 94 |  |  | 18,890 |
Total | $ | 848,201 |  |  | $ | 104,844 |  |  | $ | 365,426 |  |  | $ | 3,060 |  |  | $ | 1,321,531 |
| December 31, 2025
| Sales-type Lease Receivables |  | Loan Receivables |  |
| North America |  | International |  | North America |  | International |  | Total
Past due amounts 0 - 90 days | $ | 861,059 |  |  | $ | 111,809 |  |  | $ | 382,697 |  |  | $ | 1,746 |  |  | $ | 1,357,311 |
Past due amounts > 90 days | 9,394 |  |  | 2,271 |  |  | 2,149 |  |  | 406 |  |  | 14,220 |
Total | $ | 870,453 |  |  | $ | 114,080 |  |  | $ | 384,846 |  |  | $ | 2,152 |  |  | $ | 1,371,531 |
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, 2026 | $ | 10,281 |  |  | $ | 1,947 |  |  | $ | 6,334 |  |  | $ | 14 |  |  | $ | 18,576 |
Amounts charged to expense | (287) |  |  | 60 |  |  | 1,546 |  |  | 48 |  |  | 1,367 |
Write-offs | (988) |  |  | (109) |  |  | (1,385) |  |  | — |  |  | (2,482) |
Recoveries | 676 |  |  | 31 |  |  | 212 |  |  | — |  |  | 919 |
Other | (8) |  |  | (17) |  |  | — |  |  | 5 |  |  | (20) |
Balance at March 31, 2026 | $ | 9,674 |  |  | $ | 1,912 |  |  | $ | 6,707 |  |  | $ | 67 |  |  | $ | 18,360 |
| Sales-type Lease Receivables |  | Loan Receivables |  |
| North America |  | International |  | North America |  | International |  | Total
Balance at January 1, 2025 | $ | 12,659 |  |  | $ | 2,324 |  |  | $ | 6,549 |  |  | $ | 144 |  |  | $ | 21,676 |
Amounts charged to expense | 644 |  |  | (105) |  |  | 582 |  |  | 42 |  |  | 1,163 |
Write-offs | (1,536) |  |  | (186) |  |  | (1,543) |  |  | (48) |  |  | (3,313) |
Recoveries | 492 |  |  | 48 |  |  | 328 |  |  | — |  |  | 868 |
Other | 44 |  |  | 84 |  |  | 179 |  |  | 5 |  |  | 312 |
Balance at March 31, 2025 | $ | 12,303 |  |  | $ | 2,165 |  |  | $ | 6,095 |  |  | $ | 143 |  |  | $ | 20,706 |
The table below shows write-offs of gross finance receivables by year of origination.
| Three Months Ended March 31, 2026
| Sales Type Lease Receivables |  | Loan Receivables |  | Total
| 2026 |  | 2025 |  | 2024 |  | 2023 |  | 2022 |  | Prior |  |
Write-offs | $ | 43 |  |  | $ | 142 |  |  | $ | 236 |  |  | $ | 327 |  |  | $ | 202 |  |  | $ | 147 |  |  | $ | 1,385 |  |  | $ | 2,482 |
| Three Months Ended March 31, 2025
| Sales Type Lease Receivables |  | Loan Receivables |  | Total
| 2025 |  | 2024 |  | 2023 |  | 2022 |  | 2021 |  | Prior |  |
Write-offs | $ | 64 |  |  | $ | 124 |  |  | $ | 383 |  |  | $ | 518 |  |  | $ | 396 |  |  | $ | 237 |  |  | $ | 1,591 |  |  | $ | 3,313 |
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.
| March 31, 2026
| Sales Type Lease Receivables |  | Loan Receivables |  | Total
| 2026 |  | 2025 |  | 2024 |  | 2023 |  | 2022 |  | Prior |  |
Low | $ | 39,445 |  |  | $ | 141,695 |  |  | $ | 141,261 |  |  | $ | 138,020 |  |  | $ | 89,313 |  |  | $ | 140,451 |  |  | $ | 309,973 |  |  | $ | 1,000,158 |
Medium | 7,755 |  |  | 26,359 |  |  | 26,621 |  |  | 24,317 |  |  | 15,603 |  |  | 23,508 |  |  | 34,087 |  |  | 158,250 |
High | 941 |  |  | 3,969 |  |  | 4,774 |  |  | 4,023 |  |  | 2,870 |  |  | 3,873 |  |  | 7,297 |  |  | 27,747 |
Not Scored | 28,797 |  |  | 33,723 |  |  | 25,350 |  |  | 15,473 |  |  | 9,081 |  |  | 5,823 |  |  | 17,129 |  |  | 135,376 |
Total | $ | 76,938 |  |  | $ | 205,746 |  |  | $ | 198,006 |  |  | $ | 181,833 |  |  | $ | 116,867 |  |  | $ | 173,655 |  |  | $ | 368,486 |  |  | $ | 1,321,531 |
| December 31, 2025
| Sales Type Lease Receivables |  | Loan Receivables |  | Total
| 2025 |  | 2024 |  | 2023 |  | 2022 |  | 2021 |  | Prior |  |
Low | $ | 150,688 |  |  | $ | 153,596 |  |  | $ | 153,844 |  |  | $ | 106,037 |  |  | $ | 76,774 |  |  | $ | 76,956 |  |  | $ | 336,943 |  |  | $ | 1,054,838 |
Medium | 27,793 |  |  | 28,927 |  |  | 27,310 |  |  | 18,950 |  |  | 12,719 |  |  | 12,754 |  |  | 29,701 |  |  | 158,154 |
High | 2,798 |  |  | 2,974 |  |  | 2,555 |  |  | 2,076 |  |  | 1,214 |  |  | 1,451 |  |  | 4,998 |  |  | 18,066 |
Not Scored | 49,845 |  |  | 32,817 |  |  | 23,710 |  |  | 12,157 |  |  | 4,531 |  |  | 2,057 |  |  | 15,356 |  |  | 140,473 |
Total | $ | 231,124 |  |  | $ | 218,314 |  |  | $ | 207,419 |  |  | $ | 139,220 |  |  | $ | 95,238 |  |  | $ | 93,218 |  |  | $ | 386,998 |  |  | $ | 1,371,531 |
Schedule of Sales-type Lease, Lease Income | Lease income from sales-type leases, excluding variable lease payments, was as follows:
|  |  | Three Months Ended March 31,
|  |  |  |  | 2026 |  | 2025
Profit recognized at commencement |  |  |  |  | $ | 18,811 |  |  | $ | 19,760 |
Interest income |  |  |  |  | 37,357 |  |  | 37,763 |
Total lease income from sales-type leases |  |  |  |  | $ | 56,168 |  |  | $ | 57,523 |
Schedule of Lessor, Payments to be Received | Maturities of operating leases are as follows:
Remainder 2026 | $ | 19,675 |
2027 | 19,989 |
2028 | 9,792 |
2029 | 6,248 |
2030 | 3,257 |
Thereafter | 623 |
Total | $ | 59,584 |

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