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Finance Assets and Lessor Operating Leases (Tables)
 6 Months Ended
Jun. 30, 2020
Receivables [Abstract]  
Financing Receivables
Finance receivables consisted of the following:
 
June 30, 2020
 
December 31, 2019
 
North America
 
International
 
Total
 
North America
 
International
 
Total
Sales-type lease receivables
 

 
 

 
 

 
 

 
 

 
 

Gross finance receivables
$
998,450

 
$
196,767

 
$
1,195,217

 
$
1,055,852

 
$
224,202

 
$
1,280,054

Unguaranteed residual values
37,742

 
11,283

 
49,025

 
41,934

 
11,789

 
53,723

Unearned income
(282,027
)
 
(58,487
)
 
(340,514
)
 
(319,281
)
 
(65,888
)
 
(385,169
)
Allowance for credit losses
(26,603
)
 
(4,743
)
 
(31,346
)
 
(10,920
)
 
(2,085
)
 
(13,005
)
Net investment in sales-type lease receivables
727,562

 
144,820

 
872,382

 
767,585

 
168,018

 
935,603

Loan receivables
 
 
 

 
 

 
 

 
 

 
 

Loan receivables
254,786

 
18,635

 
273,421

 
298,247

 
27,926

 
326,173

Allowance for credit losses
(6,482
)
 
(286
)
 
(6,768
)
 
(5,906
)
 
(740
)
 
(6,646
)
Net investment in loan receivables
248,304

 
18,349

 
266,653

 
292,341

 
27,186

 
319,527

Net investment in finance receivables
$
975,866

 
$
163,169

 
$
1,139,035

 
$
1,059,926

 
$
195,204

 
$
1,255,130
Sales-type Lease Maturity
Maturities of gross sales-type lease receivables and gross loan receivables at June 30, 2020 were as follows:
 
Sales-type Lease Receivables
 
Loan Receivables
 
North America
 
International
 
Total
 
North America
 
International
 
Total
Remaining for year ending December 31, 2020
$
220,405

 
$
41,451

 
$
261,856

 
$
216,777

 
$
18,635

 
$
235,412

Year ending December 31, 2021
336,863

 
68,465

 
405,328

 
12,032

 
—

 
12,032

Year ending December 31, 2022
234,552

 
47,971

 
282,523

 
10,414

 
—

 
10,414

Year ending December 31, 2023
138,308

 
26,324

 
164,632

 
5,582

 
—

 
5,582

Year ending December 31, 2024
58,803

 
10,403

 
69,206

 
6,807

 
—

 
6,807

Thereafter
9,519

 
2,153

 
11,672

 
3,174

 
—

 
3,174

Total
$
998,450

 
$
196,767

 
$
1,195,217

 
$
254,786

 
$
18,635

 
$
273,421
Loan Receivable Maturity
Maturities of gross sales-type lease receivables and gross loan receivables at June 30, 2020 were as follows:
 
Sales-type Lease Receivables
 
Loan Receivables
 
North America
 
International
 
Total
 
North America
 
International
 
Total
Remaining for year ending December 31, 2020
$
220,405

 
$
41,451

 
$
261,856

 
$
216,777

 
$
18,635

 
$
235,412

Year ending December 31, 2021
336,863

 
68,465

 
405,328

 
12,032

 
—

 
12,032

Year ending December 31, 2022
234,552

 
47,971

 
282,523

 
10,414

 
—

 
10,414

Year ending December 31, 2023
138,308

 
26,324

 
164,632

 
5,582

 
—

 
5,582

Year ending December 31, 2024
58,803

 
10,403

 
69,206

 
6,807

 
—

 
6,807

Thereafter
9,519

 
2,153

 
11,672

 
3,174

 
—

 
3,174

Total
$
998,450

 
$
196,767

 
$
1,195,217

 
$
254,786

 
$
18,635

 
$
273,421
Past Due Financing Receivables
The aging of gross finance receivables was as follows:
 
June 30, 2020
 
Sales-type Lease Receivables
 
Loan Receivables
 
 
 
North
America
 
International
 
North
America
 
International
 
Total
Past due amounts 0 - 90 days
$
974,864

 
$
194,055

 
$
246,491

 
$
18,288

 
$
1,433,698

Past due amounts > 90 days
23,586

 
2,712

 
8,295

 
347

 
34,940

Total
$
998,450

 
$
196,767

 
$
254,786

 
$
18,635

 
$
1,468,638

Past due amounts > 90 days
 

 
 

 
 

 
 

 
 

Still accruing interest
$
4,982

 
$
1,091

 
$
5,205

 
$
191

 
$
11,469

Not accruing interest
18,604

 
1,621

 
3,090

 
156

 
23,471

Total
$
23,586

 
$
2,712

 
$
8,295

 
$
347

 
$
34,940

 
December 31, 2019
 
Sales-type Lease Receivables
 
Loan Receivables
 
 
 
North
America
 
International
 
North
America
 
International
 
Total
Past due amounts 0 - 90 days
$
1,032,912

 
$
220,819

 
$
294,001

 
$
27,697

 
$
1,575,429

Past due amounts > 90 days
22,940

 
3,383

 
4,246

 
229

 
30,798

Total
$
1,055,852

 
$
224,202

 
$
298,247

 
$
27,926

 
$
1,606,227

Past due amounts > 90 days
 

 
 

 
 

 
 

 
 

Still accruing interest
$
4,835

 
$
1,081

 
$
2,094

 
$
121

 
$
8,131

Not accruing interest
18,105

 
2,302

 
2,152

 
108

 
22,667

Total
$
22,940

 
$
3,383

 
$
4,246

 
$
229

 
$
30,798
Allowance for Credit Losses on Financing Receivables
Activity in the allowance for credit losses for finance receivables was as follows:
 
Sales-type Lease Receivables
 
Loan Receivables
 
 
 
North
America
 
International
 
North
America
 
International
 
Total
Balance at December 31, 2019
$
10,920

 
$
2,085

 
$
5,906

 
$
740

 
$
19,651

Cumulative effect of accounting change
9,271

 
1,750

 
(1,116
)
 
(402
)
 
9,503

Amounts charged to expense
9,025

 
1,257

 
4,758

 
208

 
15,248

Write-offs
(3,536
)
 
(386
)
 
(4,542
)
 
(297
)
 
(8,761
)
Recoveries
946

 
44

 
1,386

 
1

 
2,377

Other
(23
)
 
(7
)
 
90

 
36

 
96

Balance at June 30, 2020
$
26,603

 
$
4,743

 
$
6,482

 
$
286

 
$
38,114

 
 
 
 
 
 
 
 
 
 
 
Sales-type Lease Receivables
 
Loan Receivables
 
 
 
North
America
 
International
 
North
America
 
International
 
Total
Balance at January 1, 2019
$
10,253

 
$
2,355

 
$
6,777

 
$
837

 
$
20,222

Amounts charged to expense
3,660

 
455

 
2,329

 
315

 
6,759

Write-offs
(3,452
)
 
(533
)
 
(4,649
)
 
(451
)
 
(9,085
)
Recoveries
813

 
167

 
1,909

 
4

 
2,893

Other
48

 
(182
)
 
8

 
54

 
(72
)
Balance at June 30, 2019
$
11,322

 
$
2,262

 
$
6,374

 
$
759

 
$
20,717
Financing Receivable Credit Quality Indicators
The table below shows the gross sales-type lease receivable and loan receivable balances by relative risk class and year of origination based on the relative scores of the accounts within each class.
 
Sales Type Lease Receivables
 
Loan Receivables
 
Total
 
2020
 
2019
 
2018
 
2017
 
2016
 
Prior
 
 
Low
$
136,197

 
$
252,315

 
$
199,078

 
$
118,201

 
$
49,013

 
$
19,906

 
$
187,311

 
$
962,021

Medium
25,754

 
57,452

 
45,269

 
28,693

 
10,886

 
5,688

 
53,748

 
227,490

High
3,249

 
6,342

 
5,295

 
3,380

 
1,802

 
323

 
4,210

 
24,601

Not Scored
35,880

 
82,099

 
56,596

 
33,466

 
15,450

 
2,883

 
28,152

 
254,526

Total
$
201,080

 
$
398,208

 
$
306,238

 
$
183,740

 
$
77,151

 
$
28,800

 
$
273,421

 
$
1,468,638
Sales-type Lease, Lease Income
Lease income from sales-type leases was as follows:
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2020
 
2019
 
2020
 
2019
Profit recognized at commencement (1)
$
21,271

 
$
36,508

 
$
51,166

 
$
73,112

Interest income
34,055

 
58,045

 
68,315

 
117,523

Total lease income from sales-type leases
$
55,326

 
$
94,553

 
$
119,481

 
$
190,635

(1) Lease contracts do not include variable lease payments.
Lessor, Payments to be Received
We also lease mailing equipment under operating leases with terms of one to five years. Maturities of these operating leases are as follows:
Remaining for year ending December 31, 2020
$
20,222

Year ending December 31, 2021
27,899

Year ending December 31, 2022
10,881

Year ending December 31, 2023
4,899

Year ending December 31, 2024
1,528

Thereafter
200

Total
$
65,629