FINANCING RECEIVABLES

The following table is the aging of the Company’s past due financing receivables (presented gross of allowance for credit losses) as of December 31, 2012 (in thousands):



	30-89 Days Past Due		Greater than 90 Days		Greater than 181 Days		Total Past Due		Current		Total
Receivables from managed entities and related parties: ⁽¹⁾
Commercial finance investment entities	$	—	$	—	$	40,112	$	40,112	$	118	$	40,230
Real estate investment entities	816		744		17,062		18,622		2,002		20,624
Financial fund management entities	6		—		47		53		2,140		2,193
RSO	—		—		—		—		8,020		8,020
Other	41		—		—		41		137		178
	863		744		57,221		58,828		12,417		71,245
Rent receivables - real estate	4		10		58		72		40		112
Total financing receivables	$	867	$	754	$	57,279	$	58,900	$	12,457	$	71,357


(1)	Receivables are presented gross of an allowance for credit losses of $29.6 million, $2.5 million and $457,000 related to the Company’s commercial finance, real estate and financial fund management investment entities, respectively. The remaining receivables from managed entities and related parties have no related allowance for credit losses.

The following table is the aging of the Company’s past due financing receivables (presented gross of allowance for credit losses) as of September 30, 2012 (in thousands):



	30-89 Days Past Due		Greater than 90 Days		Greater than 181 Days		Total Past Due		Current		Total
Receivables from managed entities and related parties: ⁽¹⁾
Commercial finance investment entities	$	—	$	—	$	38,834	$	38,834	$	148	$	38,982
Real estate investment entities	784		2,694		15,180		18,658		2,091		20,749
Financial fund management entities	6		—		46		52		2,141		2,193
RSO	—		—		—		—		6,555		6,555
Other	—		—		—		—		152		152
	790		2,694		54,060		57,544		11,087		68,631
Rent receivables - real estate	6		1		32		39		6		45
Total financing receivables	$	796	$	2,695	$	54,092	$	57,583	$	11,093	$	68,676


(1)	Receivables are presented gross of an allowance for credit losses of $25.1 million and $2.5 million related to the Company’s commercial finance and real estate investment entities, respectively. The remaining receivables from managed entities and related parties have no related allowance for credit losses.

The following table summarizes the activity in the allowance for credit losses for all financing receivables (in thousands):



	Receivables from Managed Entities			Leases and Loans			Rent Receivables		Total
Three Months Ended December 31, 2012:
Balance, beginning of year	$	27,580		$	—		$	33	$	27,613
Provision for credit losses	5,120			(3		)	35		5,152
Charge-offs	(140		)				—		(140		)
Recoveries	—			3			—		3
Balance, end of period	$	32,560		$	—		$	68	$	32,628

Ending balance, individually evaluated for impairment	$	32,560		$	—		$	—	$	32,560
Ending balance, collectively evaluated for impairment	—			—			68		68
Balance, end of period	$	32,560		$	—		$	68	$	32,628

Three Months Ended December 31, 2011:
Balance, beginning of year	$	10,490		$	430		$	15	$	10,935
Provision for credit losses	2,085			151			14		2,250
Charge-offs	—			(124		)	—		(124		)
Recoveries	—			25			—		25
Deconsolidation of LEAF	—			(482		)	—		(482		)
Balance, end of period	$	12,575		$	—		$	29	$	12,604

Ending balance, individually evaluated for impairment	$	12,575		$	—		$	—	$	12,575
Ending balance, collectively evaluated for impairment	—			—			29		29
Balance, end of period	$	12,575		$	—		$	29	$	12,604

The Company’s financing receivables (presented exclusive of any allowance for credit losses) as of December 31, 2012 relate to the balance in the allowance for credit losses, as follows (in thousands):



	Receivables from Managed Entities		Rent Receivables		Total
Ending balance, individually evaluated for impairment	$	71,245	$	—	$	71,245
Ending balance, collectively evaluated for impairment	—		112		112
Balance, end of year	$	71,245	$	112	$	71,357

The Company’s financing receivables (presented exclusive of any allowance for credit losses) as of September 30, 2012 relate to the balance in the allowance for credit losses, as follows (in thousands):



	Receivables from Managed Entities		Rent Receivables		Total
Ending balance, individually evaluated for impairment	$	68,631	$	—	$	68,631
Ending balance, collectively evaluated for impairment	—		45		45
Balance, end of year	$	68,631	$	45	$	68,676

The following table discloses information about the Company’s impaired financing receivables (in thousands):



	Net Balance		Unpaid Balance		Specific Allowance		Average Investment in Impaired Assets
As of December 31, 2012
Financing receivables with a specific valuation allowance:
Receivables from managed entities – commercial finance	$	8,633	$	38,219	$	29,586	$	38,110
Receivables from managed entities – real estate	2,291		4,808		2,517		4,630
Receivables from managed entities – financial fund management	848		1,305		457		1,305
Rent receivables – real estate	—		68		68		40

As of September 30, 2012:
Financing receivables with a specific valuation allowance:
Receivables from managed entities – commercial finance	$	12,865	$	37,943	$	25,078	$	38,060
Receivables from managed entities – real estate	2,181		4,683		2,502		4,511
Rent receivables – real estate	12		45		33		45

The Company had no impaired financing receivables without a specific allowance as of December 31, 2012 and September 30, 2012.