It is a long term lease plan treated as loan by the lessee from an accounting perspective. The asset is treated as being owned by the lessee so it is included in the balance sheet.

For IFRS, GASB 87, and GASB 96 all leases longer than 12 months are classified as finance lease. For ASC 842, only leases that cover almost all the useful life of the underlying asset, or transfer its ownership, are Finance leases. The rest are Operating leases.