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Fair Value Of Financial Instruments (Tables)
12 Months Ended
Dec. 31, 2013
Fair Value Of Financial Instruments [Abstract]  
Schedule Of Comparison Of The Carrying Value And Estimated Fair Value Of These Financial Instruments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(In millions)

 

As of December 31,

 

   

 

2013

 

 

2012

 

   

 

Carrying

Amount

 

 

Estimated

Fair Value

 

 

Carrying

Amount

 

 

Estimated

Fair Value

 

 Assets

 

 

 

 

 

 

 

 

 

 

 

 

 Cash and cash equivalents

 

$

4.2 

 

 

$

4.2 

 

 

$

9.0 

 

 

$

9.0 

 

 Restricted cash and cash equivalents

 

 

111.3 

 

 

 

111.3 

 

 

 

92.4 

 

 

 

92.4 

 

 Restricted securities available for sale

 

 

53.6 

 

 

 

53.6 

 

 

 

46.1 

 

 

 

46.1 

 

 Net investment in Loans receivable

 

 

2,212.8 

 

 

 

2,226.7 

 

 

 

1,933.5 

 

 

 

1,951.4 

 

 Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Revolving secured line of credit

 

$

102.8 

 

 

$

102.8 

 

 

$

43.5 

 

 

$

43.5 

 

 Secured financing

 

 

935.6 

 

 

 

938.9 

 

 

 

853.0 

 

 

 

863.0 

 

 Mortgage note

 

 

3.8 

 

 

 

3.8 

 

 

 

4.0 

 

 

 

4.0 

 

 Senior notes

 

 

350.2 

 

 

 

367.1 

 

 

 

350.3 

 

 

 

381.9 

 

 

Schedule Of Assets And Liabilities, Measured At Fair Value On A Recurring Basis

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(In millions)

 

 

 

 

 

 

 

 

   

As of December 31, 2013

 

   

Level 1

 

Level 2

 

Level 3

 

Total Fair Value

 

Assets

 

 

 

 

 

 

 

 

Cash and cash equivalents

$

4.2 

 

$

 

$

 

$

4.2 

 

Restricted cash and cash equivalents

 

111.3 

 

 

 

 

 

 

111.3 

 

Restricted securities available for sale

 

25.1 

 

 

28.5 

 

 

 

 

53.6 

 

Net investment in Loans receivable

 

 

 

 

 

2,226.7 

 

 

2,226.7 

 

Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

Revolving secured line of credit

$

 

$

102.8 

 

$

 

$

102.8 

 

Secured financing

 

 

 

938.9 

 

 

 

 

938.9 

 

Mortgage note

 

 

 

3.8 

 

 

 

 

3.8 

 

Senior notes

 

367.1 

 

 

 

 

 

 

367.1 

 

   

 

 

 

 

 

 

 

 

 

 

 

 

(In millions)

 

 

 

 

 

 

 

 

 

 

 

 

   

As of December 31, 2012

 

   

Level 1

 

Level 2

 

Level 3

 

Total Fair Value

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

$

9.0 

 

$

 

$

 

$

9.0 

 

Restricted cash and cash equivalents

 

92.4 

 

 

 

 

 

 

92.4 

 

Restricted securities available for sale (1)

 

24.0 

 

 

22.1 

 

 

 

 

46.1 

 

Net investment in Loans receivable

 

 

 

 

 

1,951.4 

 

 

1,951.4 

 

Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

Revolving secured line of credit

$

 

$

43.5 

 

$

 

$

43.5 

 

Secured financing

 

 

 

863.0 

 

 

 

 

863.0 

 

Mortgage note

 

 

 

4.0 

 

 

 

 

4.0 

 

Senior notes

 

381.9 

 

 

 

 

 

 

381.9 

 

 

 

(1) Certificates of deposit totaling $3.3 million were reclassified from Level 1 to Level 2 to agree with current year presentation.