Fair Value of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2014

Fair Value Disclosures [Abstract]

Schedule of Comparison of the Carrying Value and Estimated Fair Value of Financial Instruments

A comparison of the carrying value and estimated fair value of these financial instruments is as follows:

(In millions)
	As of September 30, 2014				As of December 31, 2013
	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Assets
Cash and cash equivalents	$	4.3	$	4.3	$	4.2	$	4.2
Restricted cash and cash equivalents	205.4		205.4		111.3		111.3
Restricted securities available for sale	51.4		51.4		53.6		53.6
Net investment in Loans receivable	2,407.4		2,417.2		2,212.8		2,226.7
Liabilities
Revolving secured line of credit	$	8.8	$	8.8	$	102.8	$	102.8
Secured financing	1,351.3		1,356.9		935.6		938.9
Mortgage note	—		—		3.8		3.8
Senior notes	300.0		307.9		350.2		367.1

Schedule of Assets and Liabilities, Measured at Fair Value on a Recurring Basis

The following table provides the level of measurement used to determine the fair value for each of our financial instruments on a recurring basis, as of September 30, 2014 and December 31, 2013:

(In millions)
	As of September 30, 2014
	Level 1		Level 2		Level 3		Total Fair Value
Assets
Cash and cash equivalents	$	4.3	$	—	$	—	$	4.3
Restricted cash and cash equivalents	205.4		—		—		205.4
Restricted securities available for sale	47.9		3.5		—		51.4
Net investment in Loans receivable	—		—		2,417.2		2,417.2
Liabilities
Revolving secured line of credit	$	—	$	8.8	$	—	$	8.8
Secured financing	—		1,356.9		—		1,356.9
Senior notes	307.9		—		—		307.9

(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