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

Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2014

Schedule of Residual Interests Securitized Receivables and Derivatives Carried at Fair Value


	As of June 30, 2014
	Fair Value		Carrying Value		Level
	(amounts in millions)
Assets
Financing receivables⁽¹⁾	$	475.2	$	456.1		Level 3
Investments available-for-sale⁽²⁾		67.6		67.6		Level 3
Residual assets		5.1		5.1		Level 3
Liabilities
Credit facility	$	166.2	$	166.2		Level 3
Nonrecourse debt		153.1		145.0		Level 3
Asset-backed nonrecourse notes		97.6		97.4		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 June 30, 2014.

(2)	The amortized costs of our investments available-for-sale as of June 30, 2014 was $63.8 million.


	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 held-for-sale		24.8		24.8		Level 3
Investments available-for-sale		3.2		3.2		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 Level 3 Investments Available-for-Sale Securities

The following table reconciles the beginning and ending balances for our Level 3 investments available-for-sale that are carried at fair value:


	For the three and six months ended June 30,
	2014			2013
	(amounts in millions)
Balance, beginning of period	$	—		$	—
Transfers to / purchases of available-for-sale debt securities		83.5			—
Sale of available-for-sale debt securities		(20.7	)		—
Unrealized gain on debt securities transferred to available for sale		5.0			—
Unrealized (loss) on debt securities holdings		(0.2	)		—

Balance, end of period	$	67.6		$	—

Schedule of Reconciliation of Residual Assets

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


	For the three months ended June 30,						For the six months ended June 30,
	2014			2013			2014			2013
	(amounts in thousands)
Balance, beginning of period	$	4,490		$	4,436		$	4,863		$	4,639
Accretion		135			118			284			246
Additions		661			10			661			10
Collections		(115	)		(249	)		(624	)		(371	)
Unrealized (loss) gain on residual assets		(33	)		127			(46	)		(82	)

Balance, end of period	$	5,138		$	4,442		$	5,138		$	4,442

- Definition

Tabular disclosure of the application of the fair value option for measurement and reporting of eligible financial assets and liabilities (as defined), as well as certain other eligible items (as defined) included in the statement of financial position, whether such option is elected for a single eligible item or a group of similar eligible items and is in addition to other disclosures concerning fair value which the company may be required to provide. Such disclosure might be expected to include: (1) for items included in the statement of financial position: (a) the reasons for electing a fair value option for each eligible item or group of similar eligible items and (b) if the fair value option is elected for some but not all eligible items within a group of similar eligible items: (i) a description of those similar items and the reasons for partial election and (ii) information of how the group of similar items relates to individual balance sheet line items; (c) for each line item in the statement of financial position that includes an item or items for which the fair value option has been elected, information of how each line item in the statement of financial position relates to major categories of assets and liabilities presented in accordance with other fair value disclosures; (2) for items included in the income statement: (a) a description of how interest and dividends are measured and where they are reported in the income statement; (b) how the gains or losses attributable to changes in instrument-specific credit risk were determined; (c) for liabilities with fair values that have been significantly affected during the reporting period by changes in the instrument-specific credit risk: (i) qualitative information about the reasons for the changes and (ii) how the gains and losses attributable to changes in instrument-specific credit risk were determined; and (3) certain other disclosures as required or determined to be provided.

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