Leases (Tables)

12 Months Ended

Dec. 31, 2014

Net investment in direct financing and sales-type leases

The net investment in direct financing and sales-type leases consisted of:



	December 31,
	2014			2013
	(In thousands)
Total minimum lease payments receivable	$	659,551		633,445
Less: Executory costs	(210,241		)	(198,755	)
Minimum lease payments receivable	449,310			434,690
Less: Allowance for uncollectibles	(288		)	(501	)
Net minimum lease payments receivable	449,022			434,189
Unguaranteed residuals	55,992			57,424
Less: Unearned income	(88,003		)	(91,499	)
Net investment in direct financing and sales-type leases	417,011			400,114
Current portion	(85,946		)	(79,787	)
Non-current portion	$	331,065		320,327

Credit risk profile by creditworthiness category of direct financing lease receivables

The following table presents the credit risk profile by creditworthiness category of our direct financing lease receivables at December 31, 2014:



	December 31,
	2014		2013
	(In thousands)
Very low risk to low risk	$	198,496	203,556
Moderate	158,790		164,761
Moderately high to high risk	92,024		66,373
	$	449,310	434,690

Future minimum payments for leases

Future minimum payments for leases in effect at December 31, 2014 were as follows:



	As Lessor ⁽¹⁾			As Lessee
	Operating Leases		Direct Financing Leases	Operating Leases
	(In thousands)
2015	$	974,684	108,433	103,624
2016	795,201		94,174	75,094
2017	627,594		75,385	51,096
2018	465,224		59,288	48,589
2019	296,028		41,929	35,874
Thereafter	219,924		70,101	65,646
Total	$	3,378,655	449,310	379,923

____________________

(1)

Amounts do not include contingent rentals, which may be received under certain leases on the basis of miles of used or changes in the Consumer Price Index. Contingent rentals from operating leases included in revenue during 2014, 2013 and 2012 were $318 million, $318 million, and $319 million, respectively. Contingent rentals from direct financing leases included in revenue during 2014, 2013, and 2012 were $11 million in all periods.