Accounts and Notes Receivable and Credit Quality of Notes Receivable (Tables)
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9 Months Ended |
Sep. 30, 2015 |
Receivables [Abstract] |
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Schedule of Accounts Receivable, Net |
The following summarizes the components of current and long-term accounts and notes receivable, net: | | | | | | | | | | September 30, 2015 | | December 31, 2014 | Current: | | | | Accounts receivable | $ | 478.9 |
| | $ | 479.5 |
| Notes receivable | 174.5 |
| | 194.6 |
| Allowance for doubtful accounts | (19.7 | ) | | (17.0 | ) | Current accounts and notes receivable, net | $ | 633.7 |
| | $ | 657.1 |
| Long-term: | | | | Notes receivable | 57.6 |
| | 87.5 |
| Total accounts and notes receivable, net | $ | 691.3 |
| | $ | 744.6 |
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Schedule of Notes Receivable, Balances Over 90 Days Past Due |
The following summarizes the components of total notes receivable, net: | | | | | | | | | | | | | | | | | | September 30, 2015 | | Balances over 90 days past due | | December 31, 2014 | | Balances over 90 days past due | Notes receivable: | | | | | | | | Domestic | $ | 63.1 |
| | $ | 2.6 |
| | $ | 95.3 |
| | $ | 7.9 |
| International | 169.0 |
| | 20.3 |
| | 186.8 |
| | 12.0 |
| Total notes receivable | 232.1 |
| | 22.9 |
| | 282.1 |
| | 19.9 |
| | | | | | | | | Notes receivable allowance for doubtful accounts: | | | | | | | | Domestic | (2.9 | ) | | (1.5 | ) | | — |
| | — |
| International | (8.5 | ) |
| (4.4 | ) | | (5.9 | ) | | (3.5 | ) | Total notes receivable allowance for doubtful accounts | (11.4 | ) | | (5.9 | ) | | (5.9 | ) | | (3.5 | ) | Note receivable, net | $ | 220.7 |
| | $ | 17.0 |
| | $ | 276.2 |
| | $ | 16.4 |
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Schedule of Notes Receivable Evaluated For Impairment |
The following tables detail our evaluation of notes receivable for impairment as of September 30, 2015 and December 31, 2014: | | | | | | | | | | | | | | September 30, 2015 | | Ending Balance Individually Evaluated for Impairment | | Ending Balance Collectively Evaluated for Impairment | Notes receivable: | | | | | | Domestic | $ | 63.1 |
| | $ | 32.4 |
| | $ | 30.7 |
| International | 169.0 |
| | 112.3 |
| | 56.7 |
| Total notes receivable | $ | 232.1 |
| | $ | 144.7 |
| | $ | 87.4 |
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| | | | | | | | | | | | | | December 31, 2014 | | Ending Balance Individually Evaluated for Impairment | | Ending Balance Collectively Evaluated for Impairment | Notes receivable: | | | | | | Domestic | $ | 95.3 |
| | $ | 36.1 |
| | $ | 59.2 |
| International | 186.8 |
| | 121.0 |
| | 65.8 |
| Total notes receivable | $ | 282.1 |
| | $ | 157.1 |
| | $ | 125.0 |
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Schedule of Allowance For Doubtful Notes Receivable |
The following table reconciles the allowance for doubtful notes receivable from December 31, 2014 to September 30, 2015: | | | | | | | | | | | | | | Total | | Ending Balance Individually Evaluated for Impairment | | Ending Balance Collectively Evaluated for Impairment | Beginning balance at December 31, 2014 | $ | 5.9 |
| | $ | 5.9 |
| | $ | — |
| Charge-offs | (1.9 | ) | | (1.9 | ) | | — |
| Recoveries | (0.5 | ) | | (0.4 | ) | | (0.1 | ) | Provision | 7.9 |
| | 6.2 |
| | 1.7 |
| Ending balance at September 30, 2015 | $ | 11.4 |
| | $ | 9.8 |
| | $ | 1.6 |
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The following table reconciles the allowance for doubtful notes receivable from December 31, 2013 to September 30, 2014: | | | | | | | | | | | | | | Total | | Ending Balance Individually Evaluated for Impairment | | Ending Balance Collectively Evaluated for Impairment | Beginning balance at December 31, 2013 | $ | 5.6 |
| | $ | 5.6 |
| | $ | — |
| Charge-offs | (0.1 | ) | | (0.1 | ) | | — |
| Recoveries | — |
| | — |
| | — |
| Provision | 1.9 |
| | 1.9 |
| | — |
| Ending balance at September 30, 2014 | $ | 7.4 |
| | $ | 7.4 |
| | $ | — |
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Schedule of Notes Receivable That Had Modification of Terms |
The following summarizes the notes receivable financing terms that were modified during the nine months ended September 30, 2014: | | | | | | | | | | | | | | | | Nine months ended September 30, 2014 | | # of Customers | # of Notes | | Pre-Modification Investment | | Post-Modification Investment | Financing term modifications: | | | | | | | International (1) | 9 |
| 28 |
| | $ | 12.8 |
| | $ | 12.8 |
| Total financing term modifications | 9 |
| 28 |
| | $ | 12.8 |
| | $ | 12.8 |
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(1) The modifications are detailed below: | | • | one customer for which 12 notes were consolidated into one note aggregating $4.0 million, with an average 28-month payment extension; |
| | • | one customer for which three notes were consolidated into one note aggregating $3.1 million, with an average four-month payment extension; |
| | • | one customer with a note for $2.3 million for which original payment terms were extended by nine months; |
| | • | one customer for which four notes were consolidated into one note aggregating $1.4 million, with an average five-month extension, and another note for $0.2 million for which original payment terms were extended by seven months; |
| | • | one customer for which two notes were consolidated into one note aggregating $0.7 million, with an average 15-month payment extension; |
| | • | one customer with a note for $0.5 million for which original payment terms were extended by 21 months; |
| | • | one customer with a note for $0.3 million for which original payment terms were extended by 27 months; |
| | • | one customer for which two notes were consolidated into one note aggregating $0.2 million, with an average 14-month payment extension; and |
| | • | one customer with a note for $0.1 million for which original payment terms were extended by 21 months. |
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Schedules of Concentration Risk, Notes Receivable |
Our notes receivable were concentrated in the following international gaming jurisdictions at September 30, 2015: | | | | Mexico | 19 | % | Peru | 17 | % | Australia | 8 | % | Columbia | 7 | % | Argentina | 7 | % | Other (less than 5% individually) | 15 | % | Total international notes receivable as a percentage of total notes receivable | 73 | % |
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