Lessor

9 Months Ended

Sep. 30, 2021

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:

		Three Months Ended September 30,				Nine Months Ended September 30,
	Location in Statements of Income	2021		2020		2021		2020
Revenue from sales type leases	Sales	$	170	$	151	$	506	$	388
Interest income on lease receivables	Financing	55		55		166		170
Lease income - operating leases	Services, maintenance and rentals	54		77		172		242
Variable lease income	Services, maintenance and rentals	15		15		46		51
Total Lease income		$	294	$	298	$	890	$	851

Profit at lease commencement on sales-type leases was estimated to be $51 and $52 for the three months ended September 30, 2021 and 2020, respectively, and $152 and $138 for the nine months ended September 30, 2021 and 2020, 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:

		Three Months Ended September 30,				Nine Months Ended September 30,
	Location in Statements of Income	2021		2020		2021		2020
Revenue from sales type leases	Sales	$	170	$	151	$	506	$	388
Interest income on lease receivables	Financing	55		55		166		170
Lease income - operating leases	Services, maintenance and rentals	54		77		172		242
Variable lease income	Services, maintenance and rentals	15		15		46		51
Total Lease income		$	294	$	298	$	890	$	851

Profit at lease commencement on sales-type leases was estimated to be $51 and $52 for the three months ended September 30, 2021 and 2020, respectively, and $152 and $138 for the nine months ended September 30, 2021 and 2020, respectively.