Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.21.1
Leases (Tables)
 3 Months Ended
Mar. 31, 2021
Leases [Abstract]  
Schedule of Net Investment in Sales-type and Direct Financing Leases
The table below presents the net investment in sales-type and direct financing leases at March 31, 2021 and December 31, 2020.
Net Investment (1)
March 31 December 31
(Dollars in millions) 2021 2020
Lease receivables $ 17,158  $ 17,627 
Unguaranteed residuals 2,243  2,303 
   Total net investment in sales-type and direct
      financing leases		 $ 19,401  $ 19,930 
(1) In certain cases, the Corporation obtains third-party residual value insurance to reduce its residual asset risk. The carrying value of residual assets with third-party residual value insurance for at least a portion of the asset value was $7.0 billion and $6.9 billion at March 31, 2021 and December 31, 2020.
Sales-type Lease, Lease Income
The table below presents lease income for the three months ended March 31, 2021 and 2020.
Lease Income
Three Months Ended March 31
(Dollars in millions) 2021 2020
Sales-type and direct financing leases $ 164  $ 197 
Operating leases 231  243 
   Total lease income $ 395  $ 440 
Operating Lease, Lease Income
The table below presents lease income for the three months ended March 31, 2021 and 2020.
Lease Income
Three Months Ended March 31
(Dollars in millions) 2021 2020
Sales-type and direct financing leases $ 164  $ 197 
Operating leases 231  243 
   Total lease income $ 395  $ 440 
Direct Financing Lease, Lease Income
The table below presents lease income for the three months ended March 31, 2021 and 2020.
Lease Income
Three Months Ended March 31
(Dollars in millions) 2021 2020
Sales-type and direct financing leases $ 164  $ 197 
Operating leases 231  243 
   Total lease income $ 395  $ 440 
Lease, Cost
The table below provides information on the right-of-use assets and lease liabilities at March 31, 2021 and December 31, 2020.
Lessee Arrangements
March 31 December 31
(Dollars in millions) 2021 2020
Right-of-use asset $ 9,673  $ 10,000 
Lease liabilities 10,275  10,474