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)

3 Months Ended

Mar. 31, 2015

Summary of Fair Value and Carrying Value of Financial Assets and Liabilities


	As of March 31, 2015
	Fair Value		Carrying Value		Level
	(amounts in millions)
Assets
Financing receivables⁽¹⁾	$	610	$	554	Level 3
Financing receivables held-for-sale		40		40	Level 3
Investments available-for-sale⁽²⁾		23		23	Level 3
Liabilities
Credit facility	$	321	$	321	Level 3
Nonrecourse debt		126		111	Level 3
Asset-backed nonrecourse notes		210		209	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 $1.2 million as of March 31, 2015.

(2)	The amortized costs of our investments available-for-sale as of March 31, 2015 was $22 million.


	As of December 31, 2014
	Fair Value		Carrying Value		Level
	(amounts in millions)
Assets
Financing receivables ⁽¹⁾	$	598	$	553	Level 3
Financing receivables held-for-sale		62		62	Level 3
Investments available-for-sale⁽²⁾		27		27	Level 3
Liabilities
Credit facility	$	316	$	316	Level 3
Nonrecourse debt		127		113	Level 3
Asset-backed nonrecourse notes		208		208	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 $1.2 million as of December 31, 2014.

(2)	The amortized costs of our investments available-for-sale as of December 31, 2014, was $26.9 million.

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 that are carried at fair value following the transfer of our investments to available-for-sale:


	For the three months ended March 31,
	2015			2014
	(amounts in millions)
Balance, beginning of period	$	27.3		$	—
Transfers to / purchases of available-for-sale debt securities.		5.0			—
Payments on available-for-sale debt securities		(7.6	)		—
Sale of available-for-sale debt securities		(2.3	)		—
Gains on debt securities recorded in earnings		0.3			—
Gains on debt securities recorded in OCI		0.1			—
Balance, end of period	$	22.8		$	—

- 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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