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Finance Assets and Lessor Operating Leases
 12 Months Ended
Dec. 31, 2025
Receivables [Abstract]  
Finance Assets and Lessor Operating Leases Finance Assets and Lessor Operating Leases
Finance Assets
All finance receivables are in our SendTech Solutions segment. We segregate our finance receivables into a North America portfolio and International portfolio. Finance receivables consisted of the following:

December 31, 2025December 31, 2024
North AmericaInternationalTotalNorth AmericaInternationalTotal
Sales-type lease receivables   
Gross finance receivables$870,453 $114,080 $984,533 $946,294 $120,109 $1,066,403 
Unguaranteed residual values33,047 6,063 39,110 36,361 5,890 42,251 
Unearned income(255,754)(34,736)(290,490)(257,971)(34,674)(292,645)
Allowance for credit losses(10,281)(1,947)(12,228)(12,659)(2,324)(14,983)
Net investment in sales-type lease receivables637,465 83,460 720,925 712,025 89,001 801,026 
Loan receivables      
Loan receivables384,846 2,152 386,998 334,717 16,874 351,591 
Allowance for credit losses(6,334)(14)(6,348)(6,549)(144)(6,693)
Net investment in loan receivables378,512 2,138 380,650 328,168 16,730 344,898 
Net investment in finance receivables$1,015,977 $85,598 $1,101,575 $1,040,193 $105,731 $1,145,924 


Maturities of finance receivables at December 31, 2025 were as follows:
Sales-type Lease ReceivablesLoan Receivables
North AmericaInternationalTotalNorth AmericaInternationalTotal
2026$342,867 $46,463 $389,330 $247,693 $2,152 $249,845 
2027255,789 32,589 288,378 61,348 — 61,348 
2028160,119 20,113 180,232 42,587 — 42,587 
202981,720 10,848 92,568 25,247 — 25,247 
203027,706 3,493 31,199 7,307 — 7,307 
Thereafter2,252 574 2,826 664 — 664 
Total$870,453 $114,080 $984,533 $384,846 $2,152 $386,998 
Allowance for Credit Losses
Activity in the allowance for credit losses on finance receivables was as follows:
Allowance for Credit Losses
Sales-type Lease ReceivablesLoan Receivables
North
America		InternationalNorth
America		InternationalTotal
Balance at December 31, 2022$14,131 $2,893 $4,787 $139 $21,950 
Amounts charged to expense2,096 1,178 4,847 389 8,510 
Write-offs (4,757)(1,448)(5,182)(391)(11,778)
Recoveries2,454 181 1,893 — 4,528 
FX impact18 (18)1 16 17 
Balance at December 31, 202313,942 2,786 6,346 153 23,227 
Amounts charged to expense1,176 450 5,363 382 7,371 
Write-offs(4,233)(870)(6,587)(379)(12,069)
Recoveries1,635 178 1,801 — 3,614 
FX impact139 (220)(374)(12)(467)
Balance at December 31, 202412,659 2,324 6,549 144 21,676 
Amounts charged to expense830 (25)4,018 277 5,100 
Write-offs(5,529)(646)(5,058)(419)(11,652)
Recoveries2,244 169 819 — 3,232 
FX impact77 125 6 12 220 
Balance at December 31, 2025$10,281 $1,947 $6,334 $14 $18,576 

The table below shows write-offs of gross finance receivables by year of origination.
December 31, 2025
Sales Type Lease ReceivablesLoan ReceivablesTotal
20252024202320222021Prior
Write-offs$296 $1,041 $1,439 $1,672 $1,129 $598 $5,477 $11,652 
December 31, 2024
Sales Type Lease ReceivablesLoan ReceivablesTotal
20242023202220212020Prior
Write-offs$144 $1,104 $1,702 $1,063 $749 $341 $6,966 $12,069 

December 31, 2023
Sales Type Lease ReceivablesLoan ReceivablesTotal
20232022202120202019Prior
Write-offs$883 $1,680 $1,551 $1,079 $619 $393 $5,573 $11,778 
Aging of Receivables
The aging of gross finance receivables was as follows:
December 31, 2025
Sales-type Lease ReceivablesLoan Receivables
North
America		InternationalNorth
America		InternationalTotal
Past due amounts 0 - 90 days$861,059 $111,809 $382,697 $1,746 $1,357,311 
Past due amounts > 90 days9,394 2,271 2,149 406 14,220 
Total$870,453 $114,080 $384,846 $2,152 $1,371,531 
December 31, 2024
Sales-type Lease ReceivablesLoan Receivables
North
America		InternationalNorth
America		InternationalTotal
Past due amounts 0 - 90 days$932,948 $117,908 $331,411 $16,809 $1,399,076 
Past due amounts > 90 days13,346 2,201 3,306 65 18,918 
Total$946,294 $120,109 $334,717 $16,874 $1,417,994 

Credit Quality
The extension of credit and management of credit lines to new and existing clients uses a combination of a client's credit score, where available, a detailed manual review of their financial condition and payment history or an automated process. Once credit is granted, the payment performance of the client is managed through automated collections processes and is supplemented with direct follow up should an account become delinquent. We have robust automated collections and extensive portfolio management processes to ensure that our global strategy is executed, collection resources are allocated and enhanced tools and processes are implemented as needed.
Over 90% of our finance receivables are within our North American portfolio. We use a third party to score the majority of this portfolio on a quarterly basis using a proprietary credit score. The relative scores are determined based on a number of factors, including financial information, payment history, company type and ownership structure. We stratify the credit scores of our clients into low, medium and high-risk accounts. Due to timing and other issues, our entire portfolio may not be scored at period end. We report these amounts as "Not Scored"; however, absence of a score is not indicative of the credit quality of the account. The credit score is used to predict client payment behaviors and the probability that an account will become greater than 90 days past due during the subsequent 12-month period.
•Low risk accounts are companies with very good credit scores and a predicted delinquency rate of less than 5%.
•Medium risk accounts are companies with average to good credit scores and a predicted delinquency rate between 5% and 10%.
•High risk accounts are companies with poor credit scores, are delinquent or are at risk of becoming delinquent. The predicted delinquency rate would be greater than 10%.
We do not use a third party to score our International portfolio because the cost to do so is prohibitive as there is no single credit score model that covers all countries. Accordingly, the entire International portfolio is reported in the Not Scored category. Most of the International credit applications are subjected to an automated review process, while larger dollar value credit applications are manually reviewed, which includes obtaining client financial information, credit reports and other available information.
The table below shows gross finance receivables by relative risk class and year of origination based on the relative scores of the accounts within each class as of December 31, 2025 and 2024.

Sales Type Lease ReceivablesLoan ReceivablesTotal
20252024202320222021Prior
Low$150,688 $153,596 $153,844 $106,037 $76,774 $76,956 $336,943 $1,054,838 
Medium27,793 28,927 27,310 18,950 12,719 12,754 29,701 158,154 
High2,798 2,974 2,555 2,076 1,214 1,451 4,998 18,066 
Not Scored49,845 32,817 23,710 12,157 4,531 2,057 15,356 140,473 
Total$231,124 $218,314 $207,419 $139,220 $95,238 $93,218 $386,998 $1,371,531 
Sales Type Lease ReceivablesLoan ReceivablesTotal
20242023202220212020Prior
Low$188,847 $210,547 $163,892 $104,269 $66,673 $42,586 $273,736 $1,050,550 
Medium31,970 31,839 26,652 19,180 10,556 10,512 34,376 165,085 
High4,633 4,488 3,753 2,415 2,038 684 11,826 29,837 
Not Scored49,835 38,659 28,250 17,131 5,400 1,594 31,653 172,522 
Total$275,285 $285,533 $222,547 $142,995 $84,667 $55,376 $351,591 $1,417,994 


Lease Income
Lease income from sales-type leases, excluding variable lease payments, was as follows:
Years Ended December 31,
202520242023
Profit recognized at commencement $75,390 $101,600 $120,011 
Interest income149,999 152,348 154,998 
Total lease income from sales-type leases$225,389 $253,948 $275,009 

Lessor Operating Leases
We lease mailing equipment under operating leases with terms of one to five years. Revenue from operating leases for the years ended December 31, 2025, 2024 and 2023 were $58 million, $65 million and $68 million, respectively. Maturities of these operating leases are as follows:
2026$25,966 
202716,716 
20287,281 
20294,271 
20301,753 
Thereafter59 
Total$56,046