Leases

3 Months Ended

Mar. 31, 2020

Leases

Leases

9. 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:	2020		2019
Lease income — sales-type and direct financing leases
Sales-type lease selling price	$	211	$	149
Less: Carrying value of underlying assets, excluding unguaranteed residual value		76		55
Gross profit		135		94
Interest income on lease receivables		74		79
Total sales-type and direct financing lease income	$	208	$	172
Lease income — operating leases		71		90
Variable lease income		30		18
Total lease income	$	310	$	280