オペレーティングリースの判定基準と借手の会計・税務処理を解説

Companies often use leases instead of purchasing to acquire necessary equipment or property. A lease is a contract to obtain the right to use a specific asset for a set period and is a widely used form of financing. Among the different types of leases, operating leases are a common option for many businesses.

オペレーティングリースの判定基準

A lease is classified as an operating lease based on criteria in the FASB’s Accounting Standards Codification Topic 842. Under this standard, a lease is tested to see if it meets the conditions for a finance lease. If the contract does not meet any of the five finance lease criteria, it is classified as an operating lease. This determination must be made at the beginning of the lease term.

The first criterion for a finance lease is the transfer of asset ownership to the lessee by the end of the lease term. The second is if the lessee has an option to purchase the asset and is reasonably certain to exercise it, for instance, if the purchase price is significantly favorable compared to market value.

A third criterion is if the lease term covers a major part of the asset’s economic life, which is often considered 75% or more. A fourth is if the present value of lease payments equals substantially all of the asset’s fair value, typically 90% or more. Calculating the present value uses the rate in the contract or the lessee’s incremental borrowing rate.

The final criterion is if the asset is so specialized that it has no alternative use to the lessor after the lease term ends. A lease that does not meet any of these five tests is classified as an operating lease.

借手側の会計処理

For an operating lease, the lessee must record an asset and a liability on the balance sheet. A “Right-of-Use Asset” is recognized for the right to use the asset, and a “Lease Liability” is recognized for the future payment obligation. This treatment is a significant change from older standards where operating leases were kept off-balance sheet.

The initial lease liability is the present value of unpaid lease payments, discounted using the rate in the lease or the lessee’s incremental borrowing rate. The Right-of-Use Asset is calculated from this liability amount, plus any prepaid lease payments and initial direct costs. This accounting increases both company assets and liabilities, which can affect financial ratios.

On the income statement, the cost is recognized as a single “lease expense.” This expense is calculated using the straight-line method, allocating the total lease payments evenly over the lease term. As a result, the expense amount is constant each period, unlike a finance lease where interest and depreciation are recorded separately.

借手側の税務処理

Tax treatment is determined by criteria in the Internal Revenue Code, separate from the accounting classification. Tax law determines if a contract is a “true lease” or a financing agreement. While an accounting operating lease is often a “true lease” for tax purposes, the criteria differ, so the classifications do not always align.

If a contract is a “true lease” for tax purposes, the lessee can deduct the lease payments as a business expense. This is reported on the corporate income tax return, Form 1120. Any sales tax included in the lease payments is typically treated as part of the business expense.

For a true lease, a Right-of-Use asset is not recorded for tax purposes, and payments are directly deductible. This difference from accounting treatment creates a “Book-Tax Difference.” Companies must then recognize a deferred tax asset or liability to adjust for this temporary difference.