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Transferred Receivables and Financed Lease Debt
3 Months Ended
Mar. 31, 2012
Transferred Receivables and Financed Lease Debt [Abstract]  
Transferred Receivables and Financed Lease Debt

6. Transferred Receivables and Financed Lease Debt

The Company transferred gross financing receivables of $19.1 million and $18.3 million for the three months ended March 31, 2012 and 2011, to third parties that meet the sale criteria under FASB ASC 860, Transfers and Servicing. In exchange, for the three months ended March 31, 2012 and 2011 the Company received cash of $18.0 million and $17.8 million and recorded a profit on the sales of $1.1 million and $0.5 million, respectively. The receivables are transferred non-recourse to third parties which accept all credit, interest, and termination risk from the underlying issuers. Continuing involvement with the transferred assets is limited only to billing and remitting payments on behalf of some third parties at the specific direction of the third parties.