Lessor

9 Months Ended

Sep. 30, 2020

Leases [Abstract]

Lessor

Lessor

Revenue from sales-type leases is presented on a gross basis when the company enters into a lease to realize value from a product that it would otherwise sell in its ordinary course of business, whereas in transactions where the company enters into a lease for the purpose of generating revenue by providing financing, the profit or loss, if any, is presented on a net basis. In addition, we have elected to account for sales tax and other similar taxes collected from a lessee as lessee costs and therefore we exclude these costs from contract consideration and variable consideration and present revenue net of these costs.

The components of lease income are as follows:

	Location in	Three Months Ended September 30,				Nine Months Ended September 30,
	Statements of Income	2020		2019		2020		2019
Revenue from sales type leases	Sales	$	151	$	200	$	388	$	484
Interest income on lease receivables	Financing	55		60		170		184
Lease income - operating leases	Services, maintenance and rentals	77		99		242		303
Variable lease income	Services, maintenance and rentals	15		25		51		80
Total Lease income		$	298	$	384	$	851	$	1,051

Profit at lease commencement on sales type leases was estimated to be approximately $52 and $86 for the three months ended September 30, 2020 and 2019, respectively and $138 and $206 for the nine months ended September 30, 2020 and 2019, respectively.

Lessor

Lessor

Revenue from sales-type leases is presented on a gross basis when the company enters into a lease to realize value from a product that it would otherwise sell in its ordinary course of business, whereas in transactions where the company enters into a lease for the purpose of generating revenue by providing financing, the profit or loss, if any, is presented on a net basis. In addition, we have elected to account for sales tax and other similar taxes collected from a lessee as lessee costs and therefore we exclude these costs from contract consideration and variable consideration and present revenue net of these costs.

The components of lease income are as follows:

	Location in	Three Months Ended September 30,				Nine Months Ended September 30,
	Statements of Income	2020		2019		2020		2019
Revenue from sales type leases	Sales	$	151	$	200	$	388	$	484
Interest income on lease receivables	Financing	55		60		170		184
Lease income - operating leases	Services, maintenance and rentals	77		99		242		303
Variable lease income	Services, maintenance and rentals	15		25		51		80
Total Lease income		$	298	$	384	$	851	$	1,051

Profit at lease commencement on sales type leases was estimated to be approximately $52 and $86 for the three months ended September 30, 2020 and 2019, respectively and $138 and $206 for the nine months ended September 30, 2020 and 2019, respectively.