Lessor Leases (Tables)

12 Months Ended

Dec. 31, 2019

Leases [Abstract]

Income Recognized from Sales-Type Leases

The following table presents the Company’s income recognized from sales-type leases for the years ended December 31, 2019, 2018, and 2017:

	Year Ended December 31,
	2019		2018		2017
	(In thousands)
Sales-type lease revenues	$	37,175	$	39,167	$	29,675
Cost of sales-type lease revenues	(14,985)		(16,185)		(12,395)
Selling profit on sales-type lease revenues	$	22,190	$	22,982	$	17,280
Interest income on sales-type lease receivables	$	1,756	$	1,296	$	992

Components of Sales-Type Lease Receivables

The receivables as a result of these types of transactions are collateralized by the underlying equipment leased and consist of the following components at December 31, 2019 and 2018:

	December 31,
	2019		2018
	(In thousands)
Net minimum lease payments to be received	$	32,360	$	28,295
Less: Unearned interest income portion	(2,840)		(2,477)
Net investment in sales-type leases	29,520		25,818
Less: Current portion (1)	(9,770)		(8,736)
Long-term investment in sales-type leases, net	$	19,750	$	17,082

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⁽¹⁾ The current portion of the net investment in sales-type leases is included in other current assets in the Consolidated Balance Sheets.

Maturity Schedule of Future Minimum Lease Payments under Sales-Type Leases

The maturity schedule of future minimum lease payments under sales-type leases retained in-house and the reconciliation to the net investment in sales-type leases reported on the Consolidated Balance Sheets was as follows:

	December 31, 2019
	(In thousands)
2020	$	10,690
2021	7,473
2022	6,768
2023	4,754
2024	1,852
Thereafter	823
Total future minimum sales-type lease payments	32,360
Present value adjustment	(2,840)
Total net investment in sales-type leases	$	29,520

Income Recognized from Operating Leases

The following table represents the Company’s income recognized from operating leases for the years ended December 31, 2019, 2018, and 2017:

	Year Ended December 31,
	2019		2018		2017
	(In thousands)
Rental income	$	12,660	$	12,207	$	10,993

Maturity Schedule of Future Minimum Lease Payments under Operating Leases

The maturity schedule of future minimum lease payments under operating leases was as follows:

	December 31, 2019
	(In thousands)
2020	$	10,415
2021	6,829
2022	4,941
2023	2,914
2024	884
Thereafter	345
Total future minimum operating lease payments	$	26,328