CIT leases primarily include office space and bank branches; and substantially all of our lease liabilities relate to United States real estate leases under operating lease arrangements. Our lessee finance leases are not significant. Our real estate leases have remaining lease terms of up to 15 years. Our lease terms may include options to extend or terminate the lease. The options are included in the lease term when it is determined that it is reasonably certain the option will be exercised.

The following tables present supplemental balance sheet and cash flow information related to operating leases. ROU assets are included in Other assets and lease liabilities are included in Other liabilities.

	March 31,		December 31,
	2020		2019
ROU assets	$	232.4	$	194.9
Lease liabilities		280.6		242.6

	Quarters Ended March 31,
	2020		2019
Cash paid for amounts included in the measurement of lease liabilities	$	13.9	$	10.2
ROU assets obtained in exchange for new lease liabilities		5.6		-

The Company leases equipment to commercial end-users under operating lease and finance lease arrangements. The majority of operating lease equipment is long-lived rail equipment which is typically leased several times over the equipment’s life. We also lease technology and office equipment and large and small industrial, medical, and transportation equipment under both operating leases and finance leases.

Our Rail operating leases typically do not include purchase options. Many of our finance leases, and other equipment operating leases, offer the lessee the option to purchase the equipment at fair market value or for a nominal fixed purchase option; and many of the leases that do not have a nominal purchase option include renewal provisions resulting in some leases continuing beyond initial contractual term. Our leases typically do not include early termination options; and continued rent payments are due if leased equipment is not returned at the end of the lease.

The table that follows presents lease income related to the Company’s operating and finance leases:

	Quarters Ended March 31,
	2020		2019
Lease income – Operating leases	$	197.8	$	203.3
Variable lease income – Operating leases ⁽¹⁾		12.0		14.4
Rental income on operating leases		209.8		217.7
Interest income - Sales type and direct financing leases		43.7		49.2
Variable lease income included in Other non-interest income ⁽²⁾		10.9		11.5
Leveraged lease income		2.6		1.9
Total lease income	$	267.0	$	280.3

⁽¹⁾ Primarily includes per diem railcar operating lease rental income earned on a time or mileage usage basis.

⁽²⁾ Includes leased equipment property tax reimbursements due from customers of $4.6 million and $6.1 million for the quarters ended March 31, 2020 and 2019, respectively, and revenue related to insurance coverage on Business Capital leased equipment of $6.3 million and $5.4 million for the quarters ended March 31, 2020 and 2019, respectively.