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Net Investment in Leases (Tables) | 9 Months Ended
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Sep. 30, 2021
Leases [Abstract] |
Schedule of net investment in leases | The Company’s net investment in leases were comprised of the following as of September 30, 2021 and December 31, 2020 ($ in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | September 30, 2021 |  | December 31, 2020
Total undiscounted cash flows | ​ | $ | 1,538,758 | ​ | $ | 1,020,921
Unguaranteed estimated residual value | ​ |  | 367,804 | ​ |  | 345,284
Present value discount | ​ |  | (1,420,066) | ​ |  | (926,233)
Allowance for losses on net investment in leases | ​ |  | (9,136) | ​ |  | (10,871)
Net investment in leases(1) | ​ | $ | 477,360 | ​ | $ | 429,101
Schedule of future minimum lease payments to be collected under sales-type leases |
​ | ​ | ​ | ​
​ |  | Amount
2021 (remaining three months) | ​ | $ | 7,372
2022 | ​ |  | 30,590
2023 | ​ |  | 43,272
2024 | ​ |  | 43,029
2025 | ​ |  | 31,955
Thereafter | ​ |  | 1,382,540
Total undiscounted cash flows | ​ | $ | 1,538,758
Schedule of changes in allowance for losses on net investment in leases |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Three Months Ended |  | Nine Months Ended |
​ | ​ | September 30, 2021 | ​ | September 30, 2020 | ​ | September 30, 2021 |  | September 30, 2020 | ​
Allowance for losses on net investment in leases at beginning of period |  | $ | 9,005 | ​ | $ | 10,937 |  | $ | 10,871 | ​ | $ | — |
Initial allowance recorded upon adoption of new accounting standard(1) | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | 9,111 | ​
Provision for (recovery of) losses on net investment in leases(2) | ​ |  | 131 | ​ |  | 176 | ​ |  | (1,735) | ​ |  | 2,002 | ​
Allowance for losses on net investment in leases at end of period | ​ | $ | 9,136 | ​ | $ | 11,113 | ​ | $ | 9,136 | ​ | $ | 11,113 | ​
(1) | The Company recorded an initial allowance for losses on net investment in leases of $9.1 million upon the adoption of ASU 2016-13 on January 1, 2020.
(2) | During the three and nine months ended September 30, 2021, the Company recorded a provision for (recovery of) losses on net investment in leases of $0.1 million and ($1.7) million, respectively. The provision for losses for the three months ended September 30, 2021 resulted from market changes since June 30, 2021 and the recovery of losses for the nine months ended September 30, 2021 was due primarily to asset sales and an improving macroeconomic forecast on commercial real estate markets since December 31, 2020. During the three and nine months ended September 30, 2020, the Company recorded a provision for losses on net investment in leases of $0.2 million and $2.0 million, respectively, due primarily to the macroeconomic impact of COVID-19 on commercial real estate markets and the adoption of ASU 2016-13.

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- Definition Tabular disclosure of maturity of undiscounted cash flows to be received on annual basis for sales-type and direct financing leases receivable. Includes, but is not limited to, reconciliation to lease receivable recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 30 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=121576215&loc=SL77919391-209981 + Details
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- Definition Tabular disclosure of allowance for credit loss on net investment in sales-type financing lease. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=121599337&loc=SL82919249-210447 + Details
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