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Finance Assets and Lessor Operating Leases
 12 Months Ended
Dec. 31, 2021
Receivables [Abstract]  
Finance Assets and Lessor Operating Leases Finance Assets and Lessor Operating Leases
Finance Assets
All finance receivables are in our SendTech segment. We segregate our finance receivables into a North America portfolio and International portfolio. Finance receivables consisted of the following:
December 31, 2021December 31, 2020
North AmericaInternationalTotalNorth AmericaInternationalTotal
Sales-type lease receivables   
Gross finance receivables$958,440 $187,831 $1,146,271 $994,985 $211,944 $1,206,929 
Unguaranteed residual values37,896 10,717 48,613 36,405 12,140 48,545 
Unearned income(246,381)(56,643)(303,024)(275,359)(61,686)(337,045)
Allowance for credit losses(19,546)(3,246)(22,792)(22,917)(6,006)(28,923)
Net investment in sales-type lease receivables730,409 138,659 869,068 733,114 156,392 889,506 
Loan receivables      
Loan receivables262,310 20,155 282,465 268,690 22,092 290,782 
Allowance for credit losses(3,259)(167)(3,426)(6,484)(462)(6,946)
Net investment in loan receivables259,051 19,988 279,039 262,206 21,630 283,836 
Net investment in finance receivables$989,460 $158,647 $1,148,107 $995,320 $178,022 $1,173,342 


Maturities of finance receivables at December 31, 2021 were as follows:
Sales-type Lease ReceivablesLoan Receivables
North AmericaInternationalTotalNorth AmericaInternationalTotal
2022$379,948 $75,525 $455,473 $226,322 $20,155 $246,477 
2023276,501 53,695 330,196 15,383 — 15,383 
2024177,005 32,799 209,804 12,278 — 12,278 
202593,071 17,958 111,029 6,880 — 6,880 
202631,092 6,508 37,600 1,447 — 1,447 
Thereafter823 1,346 2,169 — — — 
Total$958,440 $187,831 $1,146,271 $262,310 $20,155 $282,465 
Allowance for Credit Losses
Activity in the allowance for credit losses on finance receivables was as follows:
Sales-type Lease ReceivablesLoan Receivables
North
America		InternationalNorth
America		InternationalTotal
Balance at December 31, 2018$10,253 $2,355 $6,777 $837 $20,222 
Amounts charged to expense5,672 1,157 4,746 569 12,144 
Write-offs (6,971)(1,505)(8,971)(849)(18,296)
Recoveries1,717 181 3,519 9 5,426 
Other249 (103)(165)174 155 
Balance at December 31, 201910,920 2,085 5,906 740 19,651 
Cumulative effect of accounting change9,271 1,750 (1,116)(402)9,503 
Amounts charged to expense10,789 2,902 8,158 555 22,404 
Write-offs(7,609)(1,068)(9,955)(551)(19,183)
Recoveries2,070 194 3,474 4 5,742 
Other(2,524)143 17 116 (2,248)
Balance at December 31, 202022,917 6,006 6,484 462 35,869 
Amounts charged to expense648 (1,788)(426)19 (1,547)
Write-offs(7,120)(846)(6,045)(302)(14,313)
Recoveries3,097 173 3,245 3 6,518 
Other4 (299)1 (15)(309)
Balance at December 31, 2021$19,546 $3,246 $3,259 $167 $26,218 

Aging of Receivables
The aging of gross finance receivables was as follows:
December 31, 2021
Sales-type Lease ReceivablesLoan Receivables
North
America		InternationalNorth
America		InternationalTotal
Amounts 0 - 90 days$950,138 $185,057 $258,514 $20,018 $1,413,727 
Amounts > 90 days8,302 2,774 3,796 137 15,009 
Total$958,440 $187,831 $262,310 $20,155 $1,428,736 
Amounts > 90 days     
Still accruing interest$4,964 $682 $— $— $5,646 
Not accruing interest3,338 2,092 3,796 137 9,363 
Total$8,302 $2,774 $3,796 $137 $15,009 
December 31, 2020
Sales-type Lease ReceivablesLoan Receivables
North
America		InternationalNorth
America		InternationalTotal
Amounts 0 - 90 days$972,266 $208,968 $264,484 $21,932 $1,467,650 
Amounts > 90 days22,719 2,976 4,206 160 30,061 
Total$994,985 $211,944 $268,690 $22,092 $1,497,711 
Amounts > 90 days     
Still accruing interest$5,128 $463 $1,797 $59 $7,447 
Not accruing interest17,591 2,513 2,409 101 22,614 
Total$22,719 $2,976 $4,206 $160 $30,061 
Credit Quality
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, a detailed manual review of their financial condition and payment history or an automated process. 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 and enhanced tools and processes are implemented as needed.

Over 85% of our finance receivables are within our North American portfolio. We use a third party to score the majority of this portfolio on a quarterly basis using a proprietary commercial credit score. The relative scores are determined based on a number of factors, including financial information, payment history, company type and ownership structure. We stratify the third party's credit scores of our clients into low, medium and high-risk accounts. Due to timing and other issues, our entire portfolio may not be scored at period end. We report these amounts as "Not Scored"; however, absence of a score is not indicative of the credit quality of the account. The third-party credit score is used to predict the payment behaviors of our clients and the probability that an account will become greater than 90 days past due during the subsequent 12-month period.
•Low risk accounts are companies with very good credit scores and a predicted delinquency rate of less than 5%.
•Medium risk accounts are companies with average to good credit scores and a predicted delinquency rate between 5% and 10%.
•High risk accounts are companies with poor credit scores, are delinquent or are at risk of becoming delinquent. The predicted delinquency rate would be greater than 10%.

We do not use a third party to score our International portfolio because the cost to do so is prohibitive as there is no single credit score model that covers all countries. Accordingly, the entire International portfolio is reported in the Not Scored category. This portfolio comprises approximately 15% of our total finance receivables. Most of our International credit applications are small dollar applications (i.e. below $50 thousand) and are subjected to an automated review process. Larger credit applications are manually reviewed, which includes obtaining client financial information, credit reports and other available information.

The table below shows the gross sales-type lease receivable and loan receivable balances by relative risk class and year of origination based on the relative scores of the accounts within each class as of December 31, 2021 and 2020.

Sales Type Lease ReceivablesLoan ReceivablesTotal
20212020201920182017Prior
Low$274,191 $195,421 $162,479 $95,661 $33,698 $14,862 $192,161 $968,473 
Medium43,403 34,955 31,038 17,895 6,981 3,619 55,708 193,599 
High5,474 5,017 4,044 2,708 849 889 4,822 23,803 
Not Scored45,644 54,097 47,973 33,998 19,161 12,214 29,774 242,861 
Total$368,712 $289,490 $245,534 $150,262 $60,689 $31,584 $282,465 $1,428,736 

Sales Type Lease ReceivablesLoan ReceivablesTotal
20202019201820172016Prior
Low$256,573 $228,344 $165,244 $87,346 $30,518 $12,249 $192,971 $973,245 
Medium50,785 49,946 37,168 21,388 6,470 2,375 61,625 229,757 
High6,182 5,396 3,782 1,974 1,051 143 4,518 23,046 
Not Scored80,854 77,362 48,704 24,291 7,813 971 31,668 271,663 
Total$394,394 $361,048 $254,898 $134,999 $45,852 $15,738 $290,782 $1,497,711 
Lease Income
Lease income from sales-type leases, excluding variable lease payments, was as follows:
Years Ended December 31,
202120202019
Profit recognized at commencement $127,469 $117,359 $146,923 
Interest income186,532 206,517 229,719 
Total lease income from sales-type leases$314,001 $323,876 $376,642 

Lessor Operating Leases
We also lease mailing equipment under operating leases with terms of one to five years. Maturities of these operating leases are as follows:
2022$22,782 
202313,607 
202416,444 
20254,185 
2026902 
Thereafter59 
Total$57,979