Leases |
3 Months Ended |
|---|---|
Mar. 31, 2020 | |
| Leases [Abstract] | |
| Leases |
Leases
The Corporation enters into both lessor and lessee arrangements. For more information on lease accounting, see Note 1 – Summary of Significant Accounting Principles and Note 9 – Leases to the Consolidated Financial Statements of the Corporation’s 2019 Annual Report on Form 10-K. For more information on lease financing receivables, see Note 5 – Outstanding Loans and Leases and Allowance for Credit Losses.
Lessor Arrangements
The Corporation’s lessor arrangements primarily consist of operating, sales-type and direct financing leases for equipment. Lease agreements may include options to renew and for the lessee to purchase the leased equipment at the end of the lease term.
At March 31, 2020 and December 31, 2019, the total net investment in sales-type and direct financing leases was $21.3 billion and $21.9 billion, comprised of $18.8 billion and $19.3 billion in lease receivables and $2.5 billion and $2.6 billion in unguaranteed residuals. In certain cases, the Corporation obtains third-party residual value insurance to reduce its residual asset risk. The carrying value of residual assets with third-party residual value insurance for at least a portion of the asset value was $6.2 billion and $5.8 billion at March 31, 2020 and December 31, 2019.
For the three months ended March 31, 2020 and 2019, total lease income was $440 million and $426 million, consisting of $197 million and $205 million from sales-type and direct financing leases and $243 million and $221 million from operating leases.
Lessee Arrangements
The Corporation’s lessee arrangements predominantly consist of operating leases for premises and equipment; the Corporation’s financing leases are not significant. Right-of-use assets were $10.1 billion and $9.7 billion and lease liabilities were $10.4 billion and $10.1 billion at March 31, 2020 and December 31, 2019.
|
| Leases |
Leases
The Corporation enters into both lessor and lessee arrangements. For more information on lease accounting, see Note 1 – Summary of Significant Accounting Principles and Note 9 – Leases to the Consolidated Financial Statements of the Corporation’s 2019 Annual Report on Form 10-K. For more information on lease financing receivables, see Note 5 – Outstanding Loans and Leases and Allowance for Credit Losses.
Lessor Arrangements
The Corporation’s lessor arrangements primarily consist of operating, sales-type and direct financing leases for equipment. Lease agreements may include options to renew and for the lessee to purchase the leased equipment at the end of the lease term.
At March 31, 2020 and December 31, 2019, the total net investment in sales-type and direct financing leases was $21.3 billion and $21.9 billion, comprised of $18.8 billion and $19.3 billion in lease receivables and $2.5 billion and $2.6 billion in unguaranteed residuals. In certain cases, the Corporation obtains third-party residual value insurance to reduce its residual asset risk. The carrying value of residual assets with third-party residual value insurance for at least a portion of the asset value was $6.2 billion and $5.8 billion at March 31, 2020 and December 31, 2019.
For the three months ended March 31, 2020 and 2019, total lease income was $440 million and $426 million, consisting of $197 million and $205 million from sales-type and direct financing leases and $243 million and $221 million from operating leases.
Lessee Arrangements
The Corporation’s lessee arrangements predominantly consist of operating leases for premises and equipment; the Corporation’s financing leases are not significant. Right-of-use assets were $10.1 billion and $9.7 billion and lease liabilities were $10.4 billion and $10.1 billion at March 31, 2020 and December 31, 2019.
|
| Leases |
Leases
The Corporation enters into both lessor and lessee arrangements. For more information on lease accounting, see Note 1 – Summary of Significant Accounting Principles and Note 9 – Leases to the Consolidated Financial Statements of the Corporation’s 2019 Annual Report on Form 10-K. For more information on lease financing receivables, see Note 5 – Outstanding Loans and Leases and Allowance for Credit Losses.
Lessor Arrangements
The Corporation’s lessor arrangements primarily consist of operating, sales-type and direct financing leases for equipment. Lease agreements may include options to renew and for the lessee to purchase the leased equipment at the end of the lease term.
At March 31, 2020 and December 31, 2019, the total net investment in sales-type and direct financing leases was $21.3 billion and $21.9 billion, comprised of $18.8 billion and $19.3 billion in lease receivables and $2.5 billion and $2.6 billion in unguaranteed residuals. In certain cases, the Corporation obtains third-party residual value insurance to reduce its residual asset risk. The carrying value of residual assets with third-party residual value insurance for at least a portion of the asset value was $6.2 billion and $5.8 billion at March 31, 2020 and December 31, 2019.
For the three months ended March 31, 2020 and 2019, total lease income was $440 million and $426 million, consisting of $197 million and $205 million from sales-type and direct financing leases and $243 million and $221 million from operating leases.
Lessee Arrangements
The Corporation’s lessee arrangements predominantly consist of operating leases for premises and equipment; the Corporation’s financing leases are not significant. Right-of-use assets were $10.1 billion and $9.7 billion and lease liabilities were $10.4 billion and $10.1 billion at March 31, 2020 and December 31, 2019.
|
| Leases |
Leases
The Corporation enters into both lessor and lessee arrangements. For more information on lease accounting, see Note 1 – Summary of Significant Accounting Principles and Note 9 – Leases to the Consolidated Financial Statements of the Corporation’s 2019 Annual Report on Form 10-K. For more information on lease financing receivables, see Note 5 – Outstanding Loans and Leases and Allowance for Credit Losses.
Lessor Arrangements
The Corporation’s lessor arrangements primarily consist of operating, sales-type and direct financing leases for equipment. Lease agreements may include options to renew and for the lessee to purchase the leased equipment at the end of the lease term.
At March 31, 2020 and December 31, 2019, the total net investment in sales-type and direct financing leases was $21.3 billion and $21.9 billion, comprised of $18.8 billion and $19.3 billion in lease receivables and $2.5 billion and $2.6 billion in unguaranteed residuals. In certain cases, the Corporation obtains third-party residual value insurance to reduce its residual asset risk. The carrying value of residual assets with third-party residual value insurance for at least a portion of the asset value was $6.2 billion and $5.8 billion at March 31, 2020 and December 31, 2019.
For the three months ended March 31, 2020 and 2019, total lease income was $440 million and $426 million, consisting of $197 million and $205 million from sales-type and direct financing leases and $243 million and $221 million from operating leases.
Lessee Arrangements
The Corporation’s lessee arrangements predominantly consist of operating leases for premises and equipment; the Corporation’s financing leases are not significant. Right-of-use assets were $10.1 billion and $9.7 billion and lease liabilities were $10.4 billion and $10.1 billion at March 31, 2020 and December 31, 2019.
|