XML 36 R21.htm IDEA: XBRL DOCUMENT v3.25.0.1
Lessor Leases
 12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Lessor Leases Lessor Leases
Sales-Type Leases
The following table presents the Company’s income recognized from sales-type leases:
Year Ended December 31,
202420232022
(In thousands)
Sales-type lease revenues$31,624 $36,208 $38,959 
Cost of sales-type lease revenues(18,518)(18,093)(19,359)
Selling profit on sales-type lease revenues$13,106 $18,115 $19,600 
The receivables as a result of these types of transactions are collateralized by the underlying equipment leased and consist of the following components:
December 31,
20242023
(In thousands)
Net minimum lease payments to be received$77,976 $65,017 
Less: Unearned interest income portion(12,757)(10,196)
Net investment in sales-type leases65,219 54,821 
Less: Current portion (1)
(12,475)(11,867)
Long-term investment in sales-type leases, net$52,744 $42,954 
_________________________________________________
(1)    The current portion of the net investment in sales-type leases is included in other current assets in the Consolidated Balance Sheets.
The carrying amount of the Company’s sales-type lease receivables is a reasonable estimate of fair value.
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,
2024
(In thousands)
2025$15,540 
202614,201 
202712,652 
202811,525 
20298,917 
Thereafter15,141 
Total future minimum sales-type lease payments77,976 
Present value adjustment(12,757)
Total net investment in sales-type leases$65,219 
Operating Leases
The following table represents the Company’s income recognized from operating leases:
Year Ended December 31,
202420232022
(In thousands)
Rental income$3,649 $6,591 $9,460 
Lessor Leases Lessor Leases
Sales-Type Leases
The following table presents the Company’s income recognized from sales-type leases:
Year Ended December 31,
202420232022
(In thousands)
Sales-type lease revenues$31,624 $36,208 $38,959 
Cost of sales-type lease revenues(18,518)(18,093)(19,359)
Selling profit on sales-type lease revenues$13,106 $18,115 $19,600 
The receivables as a result of these types of transactions are collateralized by the underlying equipment leased and consist of the following components:
December 31,
20242023
(In thousands)
Net minimum lease payments to be received$77,976 $65,017 
Less: Unearned interest income portion(12,757)(10,196)
Net investment in sales-type leases65,219 54,821 
Less: Current portion (1)
(12,475)(11,867)
Long-term investment in sales-type leases, net$52,744 $42,954 
_________________________________________________
(1)    The current portion of the net investment in sales-type leases is included in other current assets in the Consolidated Balance Sheets.
The carrying amount of the Company’s sales-type lease receivables is a reasonable estimate of fair value.
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,
2024
(In thousands)
2025$15,540 
202614,201 
202712,652 
202811,525 
20298,917 
Thereafter15,141 
Total future minimum sales-type lease payments77,976 
Present value adjustment(12,757)
Total net investment in sales-type leases$65,219 
Operating Leases
The following table represents the Company’s income recognized from operating leases:
Year Ended December 31,
202420232022
(In thousands)
Rental income$3,649 $6,591 $9,460