6. Financing Receivables and Investments

The financing receivables and investments are typically collateralized contractually committed debt obligations of government entities or private high credit quality obligors and are often supported by additional forms of credit enhancement, including security interests and supplier guaranties. The following is an analysis of financing receivables and investments by type of obligor and credit quality as of December 31, 2013.

The components of financing receivables of December 31, 2013 and September 30, 2012, were as follows (amounts in thousands):

The following table provides a summary of our anticipated maturity dates of our financing receivables and investments for each range of maturities as of December 31, 2013:

Investments consist of debt securities that are classified as held-to-maturity and thus recorded at their amortized cost as of December 31, 2013. There were no investments in an unrealized loss position as of December 31, 2013. There were no investments as of September 30, 2012.

As of December 31, 2013, we held financing receivables and a debt security that were held-for-sale and sold in the first quarter of 2014. The financing receivables, which matured in 2032 and 2037, and the investment, which matures in 2018, were recorded at cost that approximated their fair value of $24.8 million and $3.2 million, respectively, and were classified as held-for-sale as of December 31, 2013. As of September 30, 2012, there were no financing receivables or investments held for sale.

In accordance with the terms of certain financing receivables purchase agreements, payments of the purchase price is scheduled to be made over time, generally within twelve months of entering into the transaction, and as a result, we have recorded deferred funding obligations of $74.7 million as of December 31, 2013. We have $49.9 million in restricted cash as of December 31, 2013 that will be used to pay these funding obligations. As of September 30, 2012, we did not have any deferred funding obligations or related restricted cash amounts.

In May 2013, we made a $24 million mezzanine loan priced at 15.22% to a wholly owned subsidiary of EnergySource LLC (“EnergySource”) to be used for a geothermal project. As previously disclosed, it was determined that additional time and equity funding would be required to complete the project’s development. EnergySource subsequently developed a revised project business plan and budget and was negotiating third party approvals. In connection with the development of the revised business plan, on December 30, 2013, we agreed to amend the loan agreement whereby approximately $14 million was repaid in cash. The remaining outstanding balance of $11.8 million has a rate of interest of 15.22% due quarterly in cash. The loan’s average outstanding balance for the year ended December 31, 2013 was $24.7 million. Total interest income accrued and collected in cash on the loan for the year ended December 31, 2013 was $2.4 million. As previously disclosed, certain of our executive officers and directors own an indirect minority interest in EnergySource following the distribution of the Predecessor’s ownership interest prior to our IPO.

We recently became aware that the project’s equity holders (who have already contributed an estimated $31 million in the project) presently do not plan to continue to fund the additional equity investments called for in the revised business plan and required for the project to move forward. As a result, we believe the probability of repayment of the loan in accordance with our contractual terms is in doubt and thus we concluded that the loan is impaired, requiring us to establish an allowance for credit loss of $11 million against the loan as of December 31, 2013. The project is considered a variable interest entity and the maximum exposure to loss is the net balance of $0.8 million which represents our current estimate of the realizable sale value of tangible project assets. We are assessing various options intended to allow us to recover the balance of the loan.

We had no other financing receivables or investments on nonaccrual status at December 31, 2013. There was no allowance for credit losses as of September 30, 2012, or provision for credit losses for the three months ended December 31, 2012 or for the years ended September 30, 2012 and 2011. We evaluate any modifications to our financing receivables in accordance with the guidance in ASC 310, Receivables. We evaluate modifications of financing receivables to determine if the modification is more than minor, whereby any related fees, such as prepayment fees, would be recognized in income at the time of the modification. We did not have any loan modifications that qualify as trouble debt restructurings for the years ended December 31, 2013, September 30, 2012, and 2011, or for the three months ended December 31, 2012.