The Financial Accounting Standards Board (FASB) and International Account Standards Board (IASB) have proposed that largely all leases be reported on a company's financial statements. The proposal requires that leases be reported on the balance sheet. In the income statement, leases would be recognized under a dual model as either a financing or ratably over the lease term.
This PwC Point of View offers some great insight and analysis on the topic and how Income Statement recognition could be addressed.