Net Investment In Direct Finance Leases (Tables)

9 Months Ended

Sep. 30, 2018

Net Investment In Direct Finance Leases [Abstract]

Components Of Net Investment In Direct Finance Leases

	September 30,		December 31,
	2018		2017
Gross finance lease receivables (1)	$	757,087	$	412,489
Unearned income (2)		(237,709)		(135,976)
Net investment in direct finance leases	$	519,378	$	276,513

(1) At the inception of the lease, the Company records the total minimum lease payments, executory costs, if any, and unguaranteed residual value as gross finance lease receivables. The gross finance lease receivables are reduced as customer payments are received. There was $64.8 million and $34.4 million unguaranteed residual value at September 30, 2018 and December 31, 2017, respectively, included in gross finance lease receivables. There were no executory costs included in gross finance lease receivables as of September 30, 2018 and December 31, 2017.

(2) The difference between the gross finance lease receivables and the cost of the equipment or carrying amount at the lease inception is recorded as unearned income. Unearned income, together with initial direct costs, are amortized to income over the lease term so as to produce a constant periodic rate of return. There were no unamortized initial direct costs as of September 30, 2018 and December 31, 2017.

Gross Finance Lease Receivables By Customer Categories

	September 30,		December 31,
	2018		2017
Tier 1	$	645,856	$	366,629
Tier 2		111,231		45,860
Tier 3		-		-
	$	757,087	$	412,489

Contractual Maturities Of Gross Finance Lease Receivables

2019	$	114,346
2020		97,319
2021		77,996
2022		70,787
2023		68,946
2024 and thereafter		327,693
	$	757,087