FINANCING RECEIVABLES (Tables)
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6 Months Ended |
Jun. 30, 2020 |
Receivables [Abstract] |
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Schedule of Components of Short Term Payment Plans |
These receivables, included in the current portion of financing receivables, were comprised of the following at June 30, 2020 and December 31, 2019: | | | | | | | | | | | | (In thousands) | June 30, 2020 | | December 31, 2019 | Short-term payment plans, gross | $ | 1,828 | | | $ | 2,361 | | Less: allowance for losses | (128) | | | (165) | | Short-term payment plans, net | $ | 1,700 | | | $ | 2,196 | |
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Components of Lease Receivables |
The components of these receivables were as follows at June 30, 2020 and December 31, 2019: | | | | | | | | | | | | (In thousands) | June 30, 2020 | | December 31, 2019 | Long-term financing arrangements, gross | $ | 30,155 | | | $ | 34,483 | | Less: allowance for expected credit losses | (2,221) | | | (2,806) | | Less: unearned income | (3,067) | | | (3,574) | | Long-term financing arrangements, net | $ | 24,867 | | | $ | 28,103 | |
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Future Minimum Lease Payments to be Received |
Future minimum payments to be received subsequent to June 30, 2020 are as follows: | | | | | | (In thousands) | | Years Ending December 31, | | 2020 | $ | 6,385 | | 2021 | 10,200 | | 2022 | 6,666 | | 2023 | 3,846 | | 2024 | 2,228 | | Thereafter | 830 | | Total minimum payments to be received | 30,155 | | Less: allowance for expected credit losses | (2,221) | | Less: unearned income | (3,067) | | Receivables, net | $ | 24,867 | | | |
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Allowance for Financing Credit Losses |
The following table is a roll-forward of the allowance for expected credit losses for the six months ended June 30, 2020 and year ended December 31, 2019: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (In thousands) | Balance at Beginning of Period | | Provision | | Charge-offs | | Recoveries | | Balance at End of Period | June 30, 2020 | $ | 2,971 | | | $ | 703 | | | $ | (1,325) | | | $ | — | | | $ | 2,349 | | December 31, 2019 | $ | 2,567 | | | $ | 970 | | | $ | (566) | | | $ | — | | | $ | 2,971 | |
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Analysis of Age of Financing Receivables Amounts |
The following is an analysis of the age of financing receivables amounts (excluding short-term payment plans) that have been reclassified to trade accounts receivable and were past due as of June 30, 2020 and December 31, 2019: | | | | | | | | | | | | | | | | | | | | | | | | (In thousands) | 1 to 90 Days Past Due | | 91 to 180 Days Past Due | | 181 + Days Past Due | | Total Past Due | June 30, 2020 | $ | 974 | | | $ | 406 | | | $ | 342 | | | $ | 1,722 | | December 31, 2019 | $ | 1,480 | | | $ | 150 | | | $ | 207 | | | $ | 1,837 | |
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Schedule of Financing Receivable Credit Quality Indicators |
The table below categorizes customer financing receivable balances (excluding short-term payment plans) based on the age of the oldest payment outstanding that has been reclassified to trade accounts receivable: | | | | | | | | | | | | (In thousands) | June 30, 2020 | | December 31, 2019 | Stratification of uninvoiced client financing receivables based on aging of related trade accounts receivable: | | | | Uninvoiced client financing receivables related to trade accounts receivable that are 1 to 90 Days Past Due | $ | 10,663 | | | $ | 18,015 | | Uninvoiced client financing receivables related to trade accounts receivable that are 91 to 180 Days Past Due | 2,905 | | | 2,136 | | Uninvoiced client financing receivables related to trade accounts receivable that are 181 + Days Past Due | 3,164 | | | 1,972 | | Total uninvoiced client financing receivables balances of clients with a trade accounts receivable | $ | 16,732 | | | $ | 22,123 | | Total uninvoiced client financing receivables of clients with no related trade accounts receivable | 10,356 | | | 8,786 | | Total financing receivables with contractual maturities of one year or less | 1,828 | | | 2,361 | | Less: allowance for expected credit losses | (2,349) | | | (2,971) | | Total financing receivables | $ | 26,567 | | | $ | 30,299 | |
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