9. Leases: Accounting for leases as a lessor The following table presents amounts included in the Consolidated Income Statement related to lessor activity: | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | (Dollars in millions) | | 2020 | | 2019 | | 2020 | | 2019 | Lease income — sales-type and direct financing leases | | | | | | | | | | | | | Sales-type lease selling price | | $ | 368 | | $ | 179 | | $ | 579 | | $ | 328 | Less: Carrying value of underlying assets* | | | 117 | | | 74 | | | 194 | | | 129 | Gross profit | | $ | 251 | | $ | 105 | | $ | 385 | | $ | 199 | Interest income on lease receivables | | | 65 | | | 73 | | | 139 | | | 151 | Total sales-type and direct financing lease income | | $ | 316 | | $ | 178 | | $ | 524 | | $ | 350 | Lease income — operating leases | | | 68 | | | 82 | | | 139 | | | 172 | Variable lease income | | | 27 | | | 9 | | | 58 | | | 27 | Total lease income | | $ | 411 | | $ | 269 | | $ | 721 | | $ | 548 |
* Excludes unguaranteed residual value.
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