EQUIPMENT SUBJECT TO OPERATING LEASES

12 Months Ended

Dec. 31, 2018

Property Subject to or Available for Operating Lease, Net [Abstract]

EQUIPMENT SUBJECT TO OPERATING LEASES

EQUIPMENT SUBJECT TO OPERATING LEASES

Operating leases arise from leasing the Company’s products to customers.  Initial non-cancellable lease terms typically range up to 90 months.  The net book value of equipment subject to operating leases was approximately $26 million and $52 million (net of accumulated depreciation of approximately $12 million and $19 million) at December 31, 2018 and 2017, respectively, and is included in Other assets on the Company’s Consolidated Balance Sheet.  The equipment is depreciated on a straight-line basis over its estimated useful life.

Future minimum lease payments to be received under non-cancellable operating leases with lease terms in excess of one year are as follows (in millions):

Years ending December 31,
2019	$	3.9
2020	1.4
2021	0.9
2022	0.4
2023	0.1
	$	6.7

The Company received approximately $9 million and $16 million of rental income from assets under operating leases during 2018 and 2017, respectively, none of which represented contingent rental payments.