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) | | 2021 | | 2020 | | 2021 | | 2020 | Lease income – sales-type and direct financing leases: | | | | | | | | | | | | | Sales-type lease selling price | | $ | 394 | | $ | 368 | | $ | 757 | | $ | 579 | Less: Carrying value of underlying assets* | | | 103 | | | 117 | | | 162 | | | 194 | Gross profit | | $ | 291 | | $ | 251 | | $ | 595 | | $ | 385 | Interest income on lease receivables | | | 47 | | | 65 | | | 98 | | | 139 | Total sales-type and direct financing lease income | | $ | 338 | | $ | 316 | | $ | 693 | | $ | 524 | Lease income – operating leases | | | 47 | | | 68 | | | 99 | | | 139 | Variable lease income | | | 22 | | | 27 | | | 79 | | | 58 | Total lease income | | $ | 408 | | $ | 411 | | $ | 871 | | $ | 721 |
* Excludes unguaranteed residual value.
|