HA Sustainable Infrastructure Capital, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Securitization of Receivables (Tables)

Securitization of Receivables (Tables)

12 Months Ended

Dec. 31, 2013

Schedule of Fair Values of Retained Interests, Discount Rates Used in Valuing Interests

As of December 31, 2013 and September 30, 2012, the fair values of retained interests, discount rates used in valuing those interests and the sensitivity to an increase in the discount rates of 5% and 10% were as follows (amounts in thousands):


	December 31, 2013
	Servicing			Residual Assets
Amortized cost basis	$	1,281		$	4,750
Fair value	$	1,407		$	4,863
Weighted-average life in years		8			6 to 19
Discount rate		8	%		8% to 10	%
Fair value that would be decreased based on hypothetical adverse changes in discount rates:
5% change in discount rate	$	255		$	1,194
10% change in discount rate	$	418		$	1,842

	September 30, 2012
	Servicing			Residual Assets
Amortized cost basis	$	1,636		$	4,344
Fair value	$	1,752		$	4,597
Weighted-average life in years		8			7 to 18
Discount rate		8	%		8% to 10	%
Fair value that would be decreased based on hypothetical adverse changes in discount rates:
5% change in discount rate	$	316		$	1,215
10% change in discount rate	$	524		$	1,887

Schedule of Cash Flows between us and Securitization Trusts

The following is an analysis of certain cash flows between us and the securitization trusts (amounts in thousands):


	Year ended		Three months ended		Years ended September 30,
	December 31, 2013		December 31, 2012		2012		2011
Purchase of receivables securitized	$	260,115	$	57,056	$	142,045	$	116,493
Proceeds from securitizations	$	265,712	$	59,590	$	145,957	$	120,518
Servicing fees received	$	581	$	137	$	689	$	794
Cash received from residual assets	$	479	$	215	$	631	$	1,401