Notes Receivable and Allowance for Losses (Tables)

12 Months Ended

Dec. 31, 2014

Accounts and Notes Receivable, Net [Abstract]

Past due balances of mezzanine and other notes receivable by credit quality indicators

Past due balances of mezzanine and other notes receivable by credit quality indicators are as follows:



	30-89 days Past Due		> 90 days Past Due		Total Past Due		Current		Total Mezzanine and Other Notes Receivables
As of December 31, 2014	(in thousands)
Senior	$	—	$	—	$	—	$	10,152	$	10,152
Subordinated	—		—		—		3,863		3,863
Unsecured	—		47		47		3,948		3,995
	$	—	$	47	$	47	$	17,963	$	18,010
As of December 31, 2013
Senior	$	—	$	—	$	—	$	18,052	$	18,052
Subordinated	—		9,629		9,629		4,523		14,152
Unsecured	—		47		47		3,358		3,405
	$	—	$	9,676	$	9,676	$	25,933	$	35,609

Accretable yield reconciliation

The Company's accretable yield at acquisition was $1.8 million or 7.36% and a reconciliation of the accretable yield for years ended December 31, 2014 and 2013 is as follows:



	Year Ended December 31,
	2014			2013
	(in thousands)
Balance, Beginning of Year	$	582		$	1,161
Additions	—			—
Accretion	(143		)	(579		)
Disposals	(439		)	—
Reclassifications from nonaccretable yield	—			—
Balance, End of Year	$	—		$	582

Schedule of notes receivable

A summary of the Company's notes receivable and related allowances are as follows:



	December 31, 2014						December 31, 2013
	(in thousands)
Credit Quality Indicator	Forgivable Notes Receivable		Mezzanine & Other Notes Receivable		Total		Forgivable Notes Receivable		Mezzanine & Other Notes Receivable		Total
Senior	$	—	$	10,152	$	10,152	$	—	$	18,052	$	18,052
Subordinated	—		3,863		3,863		—		14,152		14,152
Unsecured	32,379		3,995		36,374		20,625		3,405		24,030
Total notes receivable	32,379		18,010		50,389		20,625		35,609		56,234
Allowance for losses on non-impaired loans	3,661		1,540		5,201		1,650		1,607		3,257
Allowance for losses on receivables specifically evaluated for impairment	—		786		786		—		8,289		8,289
Total loan reserves	3,661		2,326		5,987		1,650		9,896		11,546
Net carrying value	$	28,718	$	15,684	$	44,402	$	18,975	$	25,713	$	44,688
Current portion, net	$	124	$	3,837	$	3,961	$	361	$	12,455	$	12,816
Long-term portion, net	28,594		11,847		40,441		18,614		13,258		31,872
Total	$	28,718	$	15,684	$	44,402	$	18,975	$	25,713	$	44,688

Summary of activity related to allowance for losses

The following table summarizes the activity related to the Company’s Forgivable Notes Receivable and Mezzanine & Other Notes Receivable allowance for losses for the years ended December 31, 2014 and 2013:



	Year Ended December 31, 2014						Year Ended December 31, 2013
	Forgivable Notes Receivable			Mezzanine & Other Notes Receivable			Forgivable Notes Receivable			Mezzanine & Other Notes Receivable
	(in thousands)
Beginning balance	$	1,650		$	9,896		$	1,623		$	8,927
Provisions	2,528			102			699			969
Recoveries	(303		)	(875		)	(9		)	—
Write-offs	(305		)	(6,797		)	(115		)	—
Other⁽¹⁾	91			—			(548		)	—
Ending balance	$	3,661		$	2,326		$	1,650		$	9,896

⁽¹⁾ Consists of default rate assumption changes