Finance receivables are comprised of sales-type lease receivables and unsecured revolving loan receivables. Sales-type lease receivables are generally due in monthly, quarterly or semi-annual installments over periods ranging from three to five years. Loan receivables arise primarily from financing services offered to our clients for postage and supplies and are generally due monthly; however, clients may rollover outstanding balances. Interest is recognized on loan receivables using the effective interest method. Annual fees are recognized ratably over the annual period covered and client acquisition costs are expensed as incurred.


	September 30, 2020						December 31, 2019
	North America		International		Total		North America		International		Total
Sales-type lease receivables
Gross finance receivables	$	981,475	$	201,590	$	1,183,065	$	1,055,852	$	224,202	$	1,280,054
Unguaranteed residual values	37,191		11,609		48,800		41,934		11,789		53,723
Unearned income	(270,499)		(58,811)		(329,310)		(319,281)		(65,888)		(385,169)
Allowance for credit losses	(25,886)		(4,902)		(30,788)		(10,920)		(2,085)		(13,005)
Net investment in sales-type lease receivables	722,281		149,486		871,767		767,585		168,018		935,603
Loan receivables
Loan receivables	259,832		22,377		282,209		298,247		27,926		326,173
Allowance for credit losses	(6,792)		(488)		(7,280)		(5,906)		(740)		(6,646)
Net investment in loan receivables	253,040		21,889		274,929		292,341		27,186		319,527
Net investment in finance receivables	$	975,321	$	171,375	$	1,146,696	$	1,059,926	$	195,204	$	1,255,130


	Sales-type Lease Receivables						Loan Receivables
	North America		International		Total		North America		International		Total
Remaining for year ending December 31, 2020	$	114,724	$	35,721	$	150,445	$	215,593	$	22,377	$	237,970
Year ending December 31, 2021	359,198		75,057		434,255		13,314		—		13,314
Year ending December 31, 2022	259,729		49,422		309,151		11,507		—		11,507
Year ending December 31, 2023	155,254		27,279		182,533		6,394		—		6,394
Year ending December 31, 2024	77,034		11,000		88,034		7,023		—		7,023
Thereafter	15,536		3,111		18,647		6,001		—		6,001
Total	$	981,475	$	201,590	$	1,183,065	$	259,832	$	22,377	$	282,209


	September 30, 2020
	Sales-type Lease Receivables				Loan Receivables
	North America		International		North America		International		Total
Past due amounts 0 - 90 days	$	961,346	$	199,565	$	254,802	$	22,096	$	1,437,809
Past due amounts > 90 days	20,129		2,025		5,030		281		27,465
Total	$	981,475	$	201,590	$	259,832	$	22,377	$	1,465,274
Past due amounts > 90 days
Still accruing interest	$	3,365	$	699	$	1,461	$	58	$	5,583
Not accruing interest	16,764		1,326		3,569		223		21,882
Total	$	20,129	$	2,025	$	5,030	$	281	$	27,465


	December 31, 2019
	Sales-type Lease Receivables				Loan Receivables
	North America		International		North America		International		Total
Past due amounts 0 - 90 days	$	1,032,912	$	220,819	$	294,001	$	27,697	$	1,575,429
Past due amounts > 90 days	22,940		3,383		4,246		229		30,798
Total	$	1,055,852	$	224,202	$	298,247	$	27,926	$	1,606,227
Past due amounts > 90 days
Still accruing interest	$	4,835	$	1,081	$	2,094	$	121	$	8,131
Not accruing interest	18,105		2,302		2,152		108		22,667
Total	$	22,940	$	3,383	$	4,246	$	229	$	30,798

We estimate an allowance for credit losses based on historical loss experience, the nature of our portfolios, adverse situations that may affect a client's ability to pay, current conditions, reasonable and supportable forecasts and current economic outlook. Credit losses are estimated at the portfolio level based on asset type and geographic market. Historical loss experience was based on actual loss rates over the average term of the asset of five years for sales-type lease receivables and three years for loan receivables (including accrued interest). Additionally, we evaluate current conditions and review third-party economic forecasts on a quarterly basis to determine the impact on the allowance for credit losses. The assumptions used in determining an estimate of credit losses are inherently subjective and actual results may differ significantly from estimated reserves. The allowance for credit losses at September 30, 2020 considers the current economic conditions and resulting impact on a client's future ability to pay amounts due.

We establish credit approval limits based on the credit quality of the client and the type of equipment financed. Our policy is to discontinue revenue recognition for lease receivables that are more than 120 days past due and for loan receivables that are more than 90 days past due. We resume revenue recognition when the client's payments reduce the account aging to less than 60 days past due. Finance receivables deemed uncollectible are written off against the allowance after all collection efforts have been exhausted and management deems the account to be uncollectible. We monitor delinquency rates and have experienced a slight increase in our delinquencies during this current economic situation. However, we believe that our finance receivable credit risk is low because of the geographic and industry diversification of our clients and small account balances for most of our clients.


	Sales-type Lease Receivables				Loan Receivables
	North America		International		North America		International		Total
Balance at December 31, 2019	$	10,920	$	2,085	$	5,906	$	740	$	19,651
Cumulative effect of accounting change	9,271		1,750		(1,116)		(402)		9,503
Amounts charged to expense	10,009		1,314		6,792		429		18,544
Write-offs	(5,950)		(548)		(7,370)		(343)		(14,211)
Recoveries	1,488		91		2,399		1		3,979
Currency impact	148		210		181		63		602
Balance at September 30, 2020	$	25,886	$	4,902	$	6,792	$	488	$	38,068

	Sales-type Lease Receivables				Loan Receivables
	North America		International		North America		International		Total
Balance at January 1, 2019	$	10,253	$	2,355	$	6,777	$	837	$	20,222
Amounts charged to expense	4,587		801		3,547		440		9,375
Write-offs	(5,153)		(842)		(6,882)		(608)		(13,485)
Recoveries	1,286		157		2,746		9		4,198
Currency impact	199		(254)		(172)		41		(186)
Balance at September 30, 2019	$	11,172	$	2,217	$	6,016	$	719	$	20,124

The extension of credit and management of credit lines to new and existing clients uses a combination of a client's credit score, where available, and a detailed manual review of their financial condition and payment history or an automated process for certain small dollar applications. Once credit is granted, the payment performance of the client is managed through automated collections processes and is supplemented with direct follow up should an account become delinquent. We have robust automated collections and extensive portfolio management processes to ensure that our global strategy is executed, collection resources are allocated appropriately and enhanced tools and processes are implemented as needed.

We use a third party to score the majority of the North America portfolio on a quarterly basis using a commercial credit score. The relative scores are determined based on a number of factors, including financial information, payment history, company type and ownership structure. A fourth class is shown for accounts that are not scored. Absence of a score is not indicative of the credit quality of the account. The degree of risk (low, medium, high), as defined by the third party, refers to the relative risk that an account may become delinquent in the next 12 months.


	Sales Type Lease Receivables												Loan Receivables		Total
	2020		2019		2018		2017		2016		Prior
Low	$	187,763	$	230,942	$	178,224	$	101,307	$	37,346	$	15,488	$	185,709	$	936,779
Medium	39,810		58,779		42,501		24,903		10,491		3,924		59,422		239,830
High	5,752		6,219		4,722		2,605		1,344		184		4,617		25,443
Not Scored	55,694		79,125		53,395		28,611		12,207		1,729		32,461		263,222
Total	$	289,019	$	375,065	$	278,842	$	157,426	$	61,388	$	21,325	$	282,209	$	1,465,274

The majority of the Not Scored amounts above is within our International portfolio. We do not use a third party to score our International portfolio because the cost to do so is prohibitive, given that it is a localized process, and there is no single credit score model that covers all countries. International credit applications below $50 thousand are subjected to an automated review process. All other credit applications are manually reviewed. A manual review includes obtaining client financial information, credit reports and other available financial information. Approximately 80% of credit applications are approved or denied through the automated review process.


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Profit recognized at commencement (1)	$	29,169	$	39,326	$	80,349	$	112,422
Interest income	33,654		56,522		101,969		174,045
Total lease income from sales-type leases	$	62,823	$	95,848	$	182,318	$	286,467


Remaining for year ending December 31, 2020	$	17,351
Year ending December 31, 2021	36,396
Year ending December 31, 2022	13,688
Year ending December 31, 2023	7,172
Year ending December 31, 2024	2,100
Thereafter	399
Total	$	77,106