Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

v2.4.0.8
Fair Value Measurements (Tables)
3 Months Ended
Mar. 31, 2014
Fair Value Disclosures [Abstract]  
Schedule of Residual Interests Securitized Receivables and Derivatives Carried at Fair Value
     As of March 31, 2014
     Fair Value      Carrying Value      Level
     (amounts in millions)       

Assets

        

Financing receivables (1)

   $ 401.7       $ 395.5       Level 3

Investments

     92.5         91.3       Level 3

Residual assets

     4.5         4.5       Level 3

Liabilities

        

Credit facility

   $ 117.1       $ 117.1       Level 3

Nonrecourse debt

     157.7         150.7       Level 3

Asset-backed nonrecourse notes

     98.2         98.7       Level 3

 

(1) Financing receivables includes $0.8 million, which represents the net fair value of collateral related to an impaired loan. The allowance for loan losses included in the carrying value of the financing receivables was $11.0 million as of March 31, 2014.

 

     As of December 31, 2013
     Fair Value      Carrying Value      Level
     (amounts in millions)       

Assets

        

Financing receivables (1)

   $ 346.4       $ 347.9       Level 3

Investments

     92.0         92.0       Level 3

Financing receivables and investments held-for-sale

     28.0         28.0       Level 3

Residual assets

     4.9         4.9       Level 3

Liabilities

        

Credit facility

   $ 77.1       $ 77.1       Level 3

Nonrecourse debt

     167.1         159.8       Level 3

Asset-backed nonrecourse notes

     99.8         100.0       Level 3

 

(1) Financing receivables includes $0.8 million, which represents the net fair value of collateral related to an impaired loan. The allowance for loan losses included in the carrying value of the financing receivables was $11.0 million as of December 31, 2013.
Schedule of Reconciliation of Residual Assets

The following table reconciles the beginning and ending balances for our Level 3 assets carried at fair value, which consists of our residual assets:

 

     For the three months ended March 31,  
     2014     2013  
     (amounts in thousands)  

Balance, beginning of period

   $ 4,863      $ 4,638   

Accretion

     150        127   

Collections

     (510     (121

Unrealized loss on residual assets

     (13     (208
  

 

 

   

 

 

 

Balance, end of period

   $ 4,490      $ 4,436