This chapter discusses the following topics:
  • Subleases
  • Sales of leased assets
  • Sales of lease receivables and unguaranteed residual assets
  • Sales of equipment with guaranteed minimum resale amount
  • Business combinations
  • Remeasurement of right-of-use asset to functional currency
  • Lessor operating leases – impact of collectibility on revenue and receivables
  • Application of CECL to leasing
  • Leasehold improvements

Lessors may execute lease transactions using limited partnerships, joint ventures, and trusts. Special-purpose lessor entities are also frequently used to structure leases, including synthetic leases. These lessor entities, as well as similar entities employed by a lessee, should be evaluated to determine whether they should be consolidated by the lessor or lessee. See PwC’s Consolidation guide for more information.
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