Leases

3 Months Ended

Mar. 31, 2024

Leases [Abstract]

Leases

Leases:

Accounting for Leases as a Lessor

The following table presents amounts included in the Consolidated Income Statement related to lessor activity.

(Dollars in millions)
For the three months ended March 31:	2024		2023
Lease income — sales-type and direct financing leases:
Sales-type lease selling price	$	113	$	90
Less: Carrying value of underlying assets (1)	(28)		(30)
Gross profit	$	85	$	61
Interest income on lease receivables	69		59
Total sales-type and direct financing lease income	$	154	$	119
Lease income — operating leases	18		26
Variable lease income	20		21
Total lease income	$	192	$	166

(1)Excludes unguaranteed residual value.

Leases

Leases:

Accounting for Leases as a Lessor

The following table presents amounts included in the Consolidated Income Statement related to lessor activity.

(Dollars in millions)
For the three months ended March 31:	2024		2023
Lease income — sales-type and direct financing leases:
Sales-type lease selling price	$	113	$	90
Less: Carrying value of underlying assets (1)	(28)		(30)
Gross profit	$	85	$	61
Interest income on lease receivables	69		59
Total sales-type and direct financing lease income	$	154	$	119
Lease income — operating leases	18		26
Variable lease income	20		21
Total lease income	$	192	$	166

(1)Excludes unguaranteed residual value.

Leases

Leases:

Accounting for Leases as a Lessor

The following table presents amounts included in the Consolidated Income Statement related to lessor activity.

(Dollars in millions)
For the three months ended March 31:	2024		2023
Lease income — sales-type and direct financing leases:
Sales-type lease selling price	$	113	$	90
Less: Carrying value of underlying assets (1)	(28)		(30)
Gross profit	$	85	$	61
Interest income on lease receivables	69		59
Total sales-type and direct financing lease income	$	154	$	119
Lease income — operating leases	18		26
Variable lease income	20		21
Total lease income	$	192	$	166

(1)Excludes unguaranteed residual value.