Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2015

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 March 31, 2015				As of December 31, 2014
	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Assets
Cash and cash equivalents	$	86.7	$	86.7	$	6.4	$	6.4
Restricted cash and cash equivalents	198.9		198.9		157.6		157.6
Restricted securities available for sale	53.0		53.0		53.2		53.2
Net investment in Loans receivable	2,733.2		2,739.4		2,512.9		2,517.3
Liabilities
Revolving secured line of credit	$	—	$	—	$	119.5	$	119.5
Secured financing	1,435.3		1,438.1		1,333.0		1,334.7
Senior notes	548.2		535.8		300.0		299.3

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 March 31, 2015 and December 31, 2014:

(In millions)
	As of March 31, 2015
	Level 1		Level 2		Level 3		Total Fair Value
Assets
Cash and cash equivalents	$	86.7	$	—	$	—	$	86.7
Restricted cash and cash equivalents	198.9		—		—		198.9
Restricted securities available for sale	43.0		10.0		—		53.0
Net investment in Loans receivable	—		—		2,739.4		2,739.4
Liabilities
Secured financing	$	—	$	1,438.1	$	—	$	1,438.1
Senior notes	535.8		—		—		535.8

(In millions)
	As of December 31, 2014
	Level 1		Level 2		Level 3		Total Fair Value
Assets
Cash and cash equivalents	$	6.4	$	—	$	—	$	6.4
Restricted cash and cash equivalents	157.6		—		—		157.6
Restricted securities available for sale	47.8		5.4		—		53.2
Net investment in Loans receivable	—		—		2,517.3		2,517.3
Liabilities
Revolving secured line of credit	$	—	$	119.5	$	—	$	119.5
Secured financing	—		1,334.7		—		1,334.7
Senior notes	299.3		—		—		299.3