NOTE 4 - FINANCING RECEIVABLES

The following table is the aging of the Company’s financing receivables (presented gross of allowance for credit losses) as of June 30, 2016 (in thousands):



	Current		30-89 Days Past Due		90-180 Days Past Due		Greater than 181 Days		Total Past Due		Total
Loans and receivables from managed entities and related parties:
Real estate investment entities	$	9,265	$	312	$	665	$	6,980	$	7,957	$	17,222
Financial fund management entities	1,627		28		21		38		87		1,714
RSO	2,126		—		—		—		—		2,126
Other	2,908		—		—		—		—		2,908
	15,926		340		686		7,018		8,044		23,970
Rent receivables - real estate	168		22		4		2		28		196
Total financing receivables	$	16,094	$	362	$	690	$	7,020	$	8,072	$	24,166

The following table is the aging of the Company’s financing receivables (presented gross of allowance for credit losses) as of December 31, 2015 (in thousands):



	Current		30-89 Days Past Due		90-180 Days Past Due		Greater than 181 Days		Total Past Due		Total
Loans and receivables from managed entities and related parties:
Commercial finance investment entities	$	—	$	16	$	73	$	1,200	$	1,289	$	1,289
Real estate investment entities	7,909		392		890		11,955		13,237		21,146
Financial fund management entities	1,582		—		—		—		—		1,582
RSO	2,331		—		—		—		—		2,331
Other	319		—		—		—		—		319
	12,141		408		963		13,155		14,526		26,667
Rent receivables - real estate	192		8		2		4		14		206
Total financing receivables	$	12,333	$	416	$	965	$	13,159	$	14,540	$	26,873

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, 2016:
Balance, beginning of period	$	—	$	20		$	9		$	29
Provision for (reversal) of credit losses	—		(94		)	(8		)	(102		)
(Charge-offs)	—		(82		)				(82		)
Recoveries	—		206			—			206
Balance, end of period	$	—	$	50		$	1		$	51

Ending balance, individually evaluated for impairment	$	—	$	50		$	1		$	51
Ending balance, collectively evaluated for impairment	—		—			—			—
Balance, end of period	$	—	$	50		$	1		$	51

Six Months Ended June 30, 2016
Balance, beginning of period	$	—	$	130		$	5		$	135
Provision for (reversal) of credit losses	—		11			(4		)	7
(Charge-offs)	—		(324		)				(324		)
Recoveries	—		233			—			233
Balance, end of period	$	—	$	50		$	1		$	51

Ending balance, individually evaluated for impairment	$	—	$	50		$	1		$	51
Ending balance, collectively evaluated for impairment	—		—			—			—
Balance, end of period	$	—	$	50		$	1		$	51



	Receivables from Managed Entities		Leases and Loans			Rent Receivables		Total
Three Months Ended June 30, 2015:
Balance, beginning of period	$	17,359	$	—		$	1	$	17,360
Provision for (reversal) of credit losses	306		(31		)	1		276
(Charge-offs) recoveries	—		31			—		31
Balance, end of period	$	17,665	$	—		$	2	$	17,667

Ending balance, individually evaluated for impairment	$	17,665	$	—		$	2	$	17,667
Ending balance, collectively evaluated for impairment	—		—			—		—
Balance, end of period	$	17,665	$	—		$	2	$	17,667

Six Months Ended June 30, 2015
Balance, beginning of period	$	16,990	$	—		$	—	$	16,990
Provision for (reversal) of credit losses	675		1			2		678
(Charge-offs) recoveries	—		(1		)	—		(1		)
Balance, end of period	$	17,665	$	—		$	2	$	17,667

Ending balance, individually evaluated for impairment	$	17,665	$	—		$	2	$	17,667
Ending balance, collectively evaluated for impairment	—		—			—		—
Balance, end of period	$	17,665	$	—		$	2	$	17,667

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



As of June 30, 2016:	Receivables from Managed Entities		Rent Receivables		Total
Ending balance, individually evaluated for impairment	$	23,970	$	—	$	23,970
Ending balance, collectively evaluated for impairment	—		196		196
Balance, end of period	$	23,970	$	196	$	24,166



As of December 31, 2015:
Ending balance, individually evaluated for impairment	$	26,667	$	—	$	26,667
Ending balance, collectively evaluated for impairment	—		206		206
Balance, end of year	$	26,667	$	206	$	26,873

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, 2016:
Financing receivables with a specific valuation allowance:
Rent receivables – real estate	$	—	$	—	$	1	$	—

As of December 31, 2015:
Financing receivables with a specific valuation allowance:
Loans and receivables from managed entities – commercial finance	$	—	$	—	$	—	$	13,788
Rent receivables – real estate	—		—		5		—

The Company had no impaired financing receivables without a specific allowance as of June 30, 2016 and December 31, 2015.

Included in Other Assets in the consolidated balance sheet as of June 30, 2016 and December 31, 2015 is a commercial lease portfolio totaling $1.7 million and $1.1 million, respectively, which includes the leases acquired from three of the LEAF investment partnerships upon their liquidation in settlement of balances owed to the Company. As of June 30, 2016, the portfolio was comprised of 57 leases with an average lease balance of $29,900 and a remaining average lease term of 20 months; the aging of the outstanding lease payments was 83% current, 1% past due 30 days and 16% past due 90 days and over. As of December 31, 2015, the portfolio was comprised of 60 leases with an average lease balance of $18,100 and a remaining average lease term of 15 months; the aging of the outstanding lease payments was 80% current, 5% past due 30 days, and 15% past due 90 days and over.