XML 44 R34.htm IDEA: XBRL DOCUMENT v3.22.2
Lessor Leases (Tables)
 6 Months Ended
Jun. 30, 2022
Leases [Abstract]  
Income Recognized from Sales-Type Leases
The following table presents the Company’s income recognized from sales-type leases for the three and six months ended June 30, 2022 and 2021:
Three Months Ended June 30,Six Months Ended June 30,
2022202120222021
(In thousands)
Sales-type lease revenues$17,413 $4,648 $23,918 $10,611 
Cost of sales-type lease revenues(8,528)(1,613)(11,606)(3,979)
Selling profit on sales-type lease revenues$8,885 $3,035 $12,312 $6,632 
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 June 30, 2022 and December 31, 2021:
June 30,
2022		December 31,
2021
(In thousands)
Net minimum lease payments to be received$46,482 $31,444 
Less: Unearned interest income portion(4,961)(2,388)
Net investment in sales-type leases41,521 29,056 
Less: Current portion (1)
(12,312)(10,665)
Long-term investment in sales-type leases, net$29,209 $18,391 
_________________________________________________
(1)    The current portion of the net investment in sales-type leases is included in other current assets in the Condensed 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 Condensed Consolidated Balance Sheets was as follows:
June 30,
2022
(In thousands)
Remaining six months of 2022$7,014 
202311,852 
20248,774 
20256,882 
20264,047 
Thereafter7,913 
Total future minimum sales-type lease payments46,482 
Present value adjustment(4,961)
Total net investment in sales-type leases$41,521 
Income Recognized from Operating Leases
The following table represents the Company’s income recognized from operating leases for the three and six months ended June 30, 2022 and 2021:
Three Months Ended June 30,Six Months Ended June 30,
2022202120222021
(In thousands)
Rental income$2,421 $3,193 $4,893 $5,804