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Fair Value Of Financial Instruments (Tables)
12 Months Ended
Dec. 31, 2018
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,
 
2018
 
2017
 
Carrying
Amount
 
Estimated
Fair Value
 
Carrying
Amount
 
Estimated
Fair Value
Assets
 
 
 
 
 
 
 
Cash and cash equivalents
$
25.7

 
$
25.7

 
$
8.2

 
$
8.2

Restricted cash and cash equivalents
303.6

 
303.6

 
255.6

 
255.6

Restricted securities available for sale
58.6

 
58.6

 
46.1

 
46.1

Loans receivable, net
5,763.3

 
5,855.1

 
4,619.6

 
4,741.5

Liabilities
 
 
 
 
 
 
 
Revolving secured line of credit
$
171.9

 
$
171.9

 
$
13.9

 
$
13.9

Secured financing
3,092.7

 
3,100.9

 
2,514.1

 
2,527.6

Senior notes
544.4

 
556.3

 
542.8

 
569.4

Mortgage note
11.9

 
11.9

 

 




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 measured or disclosed at fair value:
(In millions)
As of December 31, 2018
 
Level 1
 
Level 2
 
Level 3
 
Total Fair Value
Assets
 
 
 
 
 
 
 
Cash and cash equivalents (1)
$
25.7

 
$

 
$

 
$
25.7

Restricted cash and cash equivalents (1)
303.6

 

 

 
303.6

Restricted securities available for sale (2)
47.9

 
10.7

 

 
58.6

Loans receivable, net (1)

 

 
5,855.1

 
5,855.1

Liabilities
 
 
 
 
 
 
 
Revolving secured line of credit (1)
$

 
$
171.9

 
$

 
$
171.9

Secured financing (1)

 
3,100.9

 

 
3,100.9

Senior notes (1)
556.3

 

 

 
556.3

Mortgage note (1)

 
11.9

 

 
11.9


 

 

 

 
(In millions)
As of December 31, 2017
 
Level 1
 
Level 2
 
Level 3
 
Total Fair Value
Assets
 


 


 


 

Cash and cash equivalents (1)
$
8.2

 
$

 
$

 
$
8.2

Restricted cash and cash equivalents (1)
255.6

 

 

 
255.6

Restricted securities available for sale (2)
37.1

 
9.0

 

 
46.1

Loans receivable, net (1)

 

 
4,741.5

 
4,741.5

Liabilities
 
 
 
 
 
 
 
Revolving secured line of credit (1)
$

 
$
13.9

 
$

 
$
13.9

Secured financing (1)

 
2,527.6

 

 
2,527.6

Senior notes (1)
569.4

 

 

 
569.4


(1)
Measured at amortized cost with fair value disclosed.
(2)
Measured at fair value on a recurring basis.