9. Leases: Accounting for Leases as a Lessor The following table presents amounts included in the Consolidated Income Statement related to lessor activity: | | | | | | | (Dollars in millions) | | | For the three months ended March 31: | | 2021 | | 2020 | Lease income – sales-type and direct financing leases: | | | | | | | Sales-type lease selling price | | $ | 363 | | $ | 211 | Less: Carrying value of underlying assets* | | | 59 | | | 76 | Gross profit | | $ | 304 | | $ | 135 | Interest income on lease receivables | | | 51 | | | 74 | Total sales-type and direct financing lease income | | $ | 355 | | $ | 208 | Lease income – operating leases | | | 51 | | | 71 | Variable lease income | | | 57 | | | 30 | Total lease income | | $ | 463 | | $ | 310 |
* Excludes unguaranteed residual value.
|