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 June 30, 2013 (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	$	—	$	—	$	41,685	$	41,685	$	76	$	41,761
Real estate investment entities	833		868		16,622		18,323		2,579		20,902
Financial fund management entities	12		—		10		22		2,110		2,132
RSO	—		—		—		—		2,087		2,087
Other	—		—		—		—		138		138
	845		868		58,317		60,030		6,990		67,020
Rent receivables - real estate	7		5		24		36		7		43
Total financing receivables	$	852	$	873	$	58,341	$	60,066	$	6,997	$	67,063


(1)	Receivables are presented gross of an allowance for credit losses of $33.9 million and $656,000 related to the Company’s commercial finance 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 had 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 June 30, 2013:
Balance, beginning of period	$	32,906		$	—		$	54		$	32,960
Provision for (reversal of) credit losses	1,677			(4		)	(26		)	1,647
Charge-offs	—			—			1			1
Recoveries	4			4			—			8
Balance, end of period	$	34,587		$	—		$	29		$	34,616

Nine Months Ended June 30, 2013:
Balance, beginning of year	$	27,580		$	—		$	33		$	27,613
Provision for (reversal of) credit losses	7,127			(10		)	20			7,137
Charge-offs	(140		)	—			(24		)	(164		)
Recoveries	20			10			—			30
Balance, end of period	$	34,587		$	—		$	29		$	34,616

Ending balance, individually evaluated for impairment	$	34,587		$	—		$	—		$	34,587
Ending balance, collectively evaluated for impairment	—			—			29			29
Balance, end of period	$	34,587		$	—		$	29		$	34,616

Three Months Ended June 30, 2012:
Balance, beginning of period	$	15,538		$	—		$	34		$	15,572
Provision for (reversal of) credit losses	5,711			(4		)	(9		)	5,698
Recoveries	—			4			—			4
Balance, end of period	$	21,249		$	—		$	25		$	21,274

Nine Months Ended June 30, 2012:
Balance, beginning of year	$	10,490		$	430		$	15		$	10,935
Provision for credit losses	10,759			141			10			10,910
Charge-offs	—			(124		)	—			(124		)
Recoveries	—			35			—			35
Deconsolidation of LEAF	—			(482		)	—			(482		)
Balance, end of period	$	21,249		$	—		$	25		$	21,274

Ending balance, individually evaluated for impairment	$	21,249		$	—		$	—		$	21,249
Ending balance, collectively evaluated for impairment	—			—			25			25
Balance, end of period	$	21,249		$	—		$	25		$	21,274

The Company’s financing receivables (presented gross of allowance for credit losses) as of June 30, 2013 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	$	67,020	$	—	$	67,020
Ending balance, collectively evaluated for impairment	—		43		43
Balance, end of period	$	67,020	$	43	$	67,063

The Company’s financing receivables (presented gross of 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 June 30, 2013
Financing receivables with a specific valuation allowance:
Receivables from managed entities – commercial finance	$	4,656	$	38,587	$	33,931	$	38,236
Receivables from managed entities – financial fund management	649		1,305		656		1,305
Rent receivables – real estate	—		29		29		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 June 30, 2013 and September 30, 2012.