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Leases (Tables)
 9 Months Ended
Sep. 30, 2023
Leases [Abstract]  
Lessee, Balance Sheet and Income Statement Effect
The following table summarizes the impact of the Company's leases in its financial statements (in thousands):
Balance SheetFinancial statement captionSeptember 30, 2023December 31, 2022
Right-of-use asset - operatingOther assets$10,158 $3,145 
Lease liability - operatingAccounts payable and other accrued expenses$13,315 $3,465 
Three Months Ended September 30,Nine Months Ended September 30,
Income StatementFinancial statement caption2023202220232022
Operating lease cost(1)
Administrative expenses$652 $797 $2,127 $2,444 
(1)     Includes short-term leases that are immaterial.
Schedule of deferred revenue These amounts will be amortized into revenue as follows (in thousands):
Year ending December 31,
2023 (Remaining 3 months)$19,245 
202476,275 
202565,160 
202642,870 
202716,924 
2028 and thereafter58,459 
Total$278,933 
Schedule of Components of Leveraged Lease Investments
The following table summarizes the components of the net investment in finance leases (in thousands):
September 30, 2023December 31, 2022
Future minimum lease payment receivable(1)
$1,974,693 $2,161,192 
Estimated residual receivable(2)
218,251 218,004 
Gross finance lease receivables(3)
2,192,944 2,379,196 
Unearned income(4)
(659,385)(739,365)
Net investment in finance leases(5)
$1,533,559 $1,639,831 

(1)     There were no executory costs included in gross finance lease receivables as of September 30, 2023 and December 31, 2022.
(2)     The Company's finance leases generally include a purchase option at nominal amounts that is reasonably certain to be exercised, and therefore, the Company has immaterial residual value risk for assets.
(3)    The gross finance lease receivable is reduced as billed to customers and reclassified to accounts receivable until paid by customers.
(4)     There were no unamortized initial direct costs as of September 30, 2023 and December 31, 2022.
(5)    One major customer represented 93% and 90% as of the Company's finance lease portfolio as of September 30, 2023 and December 31, 2022, respectively. No other customer represented more than 10% of the Company's finance lease portfolio in each of those periods.