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Fair Value Of Financial Instruments (Tables)
12 Months Ended
Dec. 31, 2016
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,
 
2016
 
2015
 
Carrying
Amount
 
Estimated
Fair Value
 
Carrying
Amount
 
Estimated
Fair Value
Assets
 
 
 
 
 
 
 
Cash and cash equivalents
$
14.6

 
$
14.6

 
$
6.3

 
$
6.3

Restricted cash and cash equivalents
224.7

 
224.7

 
167.4

 
167.4

Restricted securities available for sale
45.3

 
45.3

 
48.3

 
48.3

Loans receivable, net
3,886.6

 
3,955.9

 
3,101.5

 
3,126.3

Liabilities
 
 
 
 
 
 
 
Revolving secured line of credit
$

 
$

 
$
57.7

 
$
57.7

Secured financing (1)
2,062.4

 
2,072.0

 
1,470.1

 
1,471.9

Senior notes (1)
541.3

 
560.5

 
540.0

 
549.6



(1)
Prior year carrying amounts have been reclassified to reflect the adoption of ASU 2015-03, as amended by ASU No. 2015-15, which resulted in a reclassification of certain deferred debt issuance costs from other assets to secured financing and senior notes.
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:
(In millions)
As of December 31, 2016
 
Level 1
 
Level 2
 
Level 3
 
Total Fair Value
Assets
 
 
 
 
 
 
 
Cash and cash equivalents
$
14.6

 
$

 
$

 
$
14.6

Restricted cash and cash equivalents
224.7

 

 

 
224.7

Restricted securities available for sale (1)
37.1

 
8.2

 

 
45.3

Loans receivable, net

 

 
3,955.9

 
3,955.9

Liabilities
 
 
 
 
 
 
 
Revolving secured line of credit
$

 
$

 
$

 
$

Secured financing

 
2,072.0

 

 
2,072.0

Senior notes
560.5

 

 

 
560.5


 

 

 

 
(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 (1)
38.7

 
9.6

 

 
48.3

Loans receivable, net

 

 
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


(1)
Measured and recorded at fair value on a recurring basis.