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Allowance for Credit Losses (Tables)
12 Months Ended
Dec. 31, 2020
Allowance For Credit Loss [Abstract]  
Summary of Net Investment in Finance Leases and Container Leaseback Financing Receivable

The following table presents the net investment in finance leases and container leaseback financing receivable by internal credit rating category and year of origination as of December 31, 2020:

 

 

 

Year Ended December 31,

2020

 

 

2019

 

 

2018

 

 

2017

 

 

2016

 

 

Prior

 

 

Total

 

Tier 1

 

$

571,226

 

 

$

111,206

 

 

$

35,580

 

 

$

7,221

 

 

$

 

 

$

36,625

 

 

$

761,858

 

Tier 2

 

 

40,657

 

 

 

37,176

 

 

 

21,164

 

 

 

53

 

 

 

5,153

 

 

 

3,505

 

 

 

107,708

 

Tier 3

 

 

2,624

 

 

 

7,145

 

 

 

1,132

 

 

 

 

 

 

42

 

 

 

784

 

 

 

11,727

 

   Net investment in finance leases

 

$

614,507

 

 

$

155,527

 

 

$

57,876

 

 

$

7,274

 

 

$

5,195

 

 

$

40,914

 

 

$

881,293

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tier 1

 

$

113,383

 

 

$

213,386

 

 

$

 

 

$

 

 

$

 

 

$

 

 

$

326,769

 

Tier 2

 

 

 

 

 

37,523

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

37,523

 

Tier 3

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

   Container leaseback financing receivable

 

$

113,383

 

 

$

250,909

 

 

$

 

 

$

 

 

$

 

 

$

 

 

$

364,292

 

Summary of Changes in Carrying Amount of Allowance for Credit Losses The changes in the carrying amount of the allowance for credit losses during the year ended December 31, 2020 are as follows:

 

 

Accounts Receivable

 

 

Net Investment in Finance Leases

 

 

Container Leaseback Financing Receivable

 

 

Total Allowance for Credit Losses

 

Balance as of December 31, 2019

 

$

6,299

 

 

$

 

 

$

 

 

$

6,299

 

Impact of adopting ASU 2016-13 on January 1, 2020

 

 

 

 

 

636

 

 

 

256

 

 

 

892

 

Additions charged to expense (recovery), net

 

 

(3,149

)

 

 

697

 

 

 

168

 

 

 

(2,284

)

Write-offs

 

 

(487

)

 

 

 

 

 

 

 

 

(487

)

Balance as of December 31, 2020

 

$

2,663

 

 

$

1,333

 

 

$

424

 

 

$

4,420