Net Investment In Sales-Type And Direct Finance Leases (Tables)

9 Months Ended

Sep. 30, 2019

Net Investment In Sales-Type And Direct Finance Leases [Abstract]

Components Of Net Investment In Direct Finance Leases

	September 30,		December 31,
	2019		2018
Gross sales-type and finance lease receivables (1)	$	781,624	$	804,511
Unearned income (2)		(241,857)		(254,744)
Net investment in sales-type and direct finance leases	$	539,767	$	549,767

(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 sales-type and finance lease receivables. The gross sales-type and finance lease receivables are reduced as customer payments are received. There was $74.3 million and $74.4 million of unguaranteed residual value at September 30, 2019 and December 31, 2018, respectively, included in gross sales-type and finance lease receivables. There were no executory costs included in gross sales-type and finance lease receivables as of September 30, 2019 and December 31, 2018.

(2)The difference between the gross sales-type and 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, 2019 and December 31, 2018.

Gross Finance Lease Receivables By Customer Categories

	September 30,		December 31,
	2019		2018
Tier 1	$	714,921	$	698,014
Tier 2		66,703		106,497
Tier 3		-		-
	$	781,624	$	804,511

Contractual Maturities Of Gross Finance Lease Receivables

2020	$	109,400
2021		98,955
2022		91,883
2023		91,211
2024		61,405
2025 and thereafter		328,770
	$	781,624