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Fair Value Of Financial Instruments (Tables)
12 Months Ended
Dec. 31, 2015
Fair Value Disclosures [Abstract]  
Schedule Of Comparison Of The Carrying Value And Estimated Fair Value Of These Financial Instruments
A comparison of the carrying amount and estimated fair value of these financial instruments is as follows:
(In millions)
As of December 31,
 
2015
 
2014
 
Carrying
Amount
 
Estimated
Fair Value
 
Carrying
Amount
 
Estimated
Fair Value
Assets
 
 
 
 
 
 
 
Cash and cash equivalents
$
6.3

 
$
6.3

 
$
6.4

 
$
6.4

Restricted cash and cash equivalents
167.4

 
167.4

 
157.6

 
157.6

Restricted securities available for sale
48.3

 
48.3

 
53.2

 
53.2

Net investment in Loans receivable
3,101.5

 
3,126.3

 
2,512.9

 
2,517.3

Liabilities
 
 
 
 
 
 
 
Revolving secured line of credit
$
57.7

 
$
57.7

 
$
119.5

 
$
119.5

Secured financing
1,478.6

 
1,471.9

 
1,333.0

 
1,334.7

Senior notes
548.3

 
549.6

 
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 December 31, 2015 and 2014
(In millions)
As of December 31, 2015
 
Level 1
 
Level 2
 
Level 3
 
Total Fair Value
Assets
 
 
 
 
 
 
 
Cash and cash equivalents
$
6.3

 
$

 
$

 
$
6.3

Restricted cash and cash equivalents
167.4

 

 

 
167.4

Restricted securities available for sale
38.7

 
9.6

 

 
48.3

Net investment in Loans receivable

 

 
3,126.3

 
3,126.3

Liabilities
 
 
 
 
 
 
 
Revolving secured line of credit
$

 
$
57.7

 
$

 
$
57.7

Secured financing

 
1,471.9

 

 
1,471.9

Senior notes
549.6

 

 

 
549.6


 

 

 

 
(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