Lessee: The minimum rental payments called for by the lease over the lease term; plus
any guarantee by the lessee of the residual value of the leased property at the end of the lease term; and
any penalty required to be paid by the lessee for failure to renew or extend the lease at the end of the lease term.
If a bargain purchase option exists, then only the minimum rental payments and the bargain purchase option are included in the lease payments.
The minimum lease payments for the lessee as described above and any residual value or rental payments beyond the lease term guaranteed by a third party unrelated to the lessee or lessor. (KPMG LLP)