XML 38 R27.htm IDEA: XBRL DOCUMENT v3.8.0.1
FINANCE RECEIVABLES (Tables)
 9 Months Ended
Sep. 30, 2017
Receivables [Abstract]  
Schedule of Accounts, Notes, Loans and Financing Receivable
Finance receivables, net consisted of the following (in millions):
 
September 30,
2017
 
December 31,
2016
Commercial loans
$
230.0

 
$
226.4

Sales-type leases
16.7

 
16.4

Total finance receivables, gross
246.7

 
242.8

Allowance for credit losses
(7.1
)
 
(6.3
)
Total finance receivables, net
$
239.6

 
$
236.5
Allowance for Credit Losses on Financing Receivables
The following table presents an analysis of the allowance for credit losses:

 
 
Three Months Ended
September 30, 2017
 
Three Months Ended
September 30, 2016
 
 
Commercial Loans
 
Sales-Type Leases
 
Total
 
Commercial Loans
 
Sales-Type Leases
 
Total
Balance, beginning of period
 
$
5.9

 
$
0.4

 
$
6.3

 
$
6.9

 
$
0.5

 
$
7.4

Provision for credit losses
 
0.9

 
0.1

 
1.0

 
(0.5
)
 
0.6

 
0.1

Charge offs
 
(0.2
)
 
—

 
(0.2
)
 
—

 
—

 
—

Recoveries
 
—

 
—

 
—

 
—

 
—

 
—

Balance, end of period
 
$
6.6

 
$
0.5

 
$
7.1

 
$
6.4

 
$
1.1

 
$
7.5

 
 
Nine Months Ended
September 30, 2017
 
Nine Months Ended
September 30, 2016
 
 
Commercial Loans
 
Sales-Type Leases
 
Total
 
Commercial Loans
 
Sales-Type Leases
 
Total
Balance, beginning of period
 
$
5.9

 
0.4

 
$
6.3

 
$
6.5

 
$
0.8

 
$
7.3

Provision for credit losses
 
1.0

 
0.1

 
1.1

 
(0.1
)
 
0.3

 
0.2

Charge offs
 
(0.3
)
 
—

 
(0.3
)
 
—

 
—

 
—

Recoveries
 
—

 
—

 
—

 
—

 
—

 
—

Balance, end of period
 
$
6.6

 
$
0.5

 
$
7.1

 
$
6.4

 
$
1.1

 
$
7.5

The allowance for credit losses and finance receivables by portfolio, segregated by those amounts that are individually evaluated for impairment and those that are collectively evaluated for impairment, was as follows (in millions):

 
 
September 30, 2017
 
December 31, 2016
Allowance for credit losses, ending balance:
 
Commercial Loans
 
Sales-Type Leases
 
Total
 
Commercial Loans
 
Sales-Type Leases
 
Total
Individually evaluated for impairment
 
$
2.4

 
$
—

 
$
2.4

 
$
1.6

 
$
—

 
$
1.6

Collectively evaluated for impairment
 
4.2

 
0.5

 
4.7

 
4.3

 
0.4

 
4.7

Total allowance for credit losses
 
$
6.6

 
$
0.5

 
$
7.1

 
$
5.9

 
$
0.4

 
$
6.3

 
 
 
 
 
 
 
 
 
 
 
 
 
Finance receivables, ending balance:
 
 
 
 
 
 
 
 
 
 
 
 
Individually evaluated for impairment
 
$
6.1

 
$
—

 
$
6.1

 
$
1.6

 
$
—

 
$
1.6

Collectively evaluated for impairment
 
223.9

 
16.7

 
240.6

 
224.8

 
16.4

 
241.2

Total finance receivables
 
$
230.0

 
$
16.7

 
$
246.7

 
$
226.4

 
$
16.4

 
$
242.8
Impaired Financing Receivables
The following table presents individually impaired finance receivables (in millions):

 
 
September 30, 2017
 
December 31, 2016
 
 
Commercial Loans
 
Sales-Type Leases
 
Total
 
Commercial Loans
 
Sales-Type Leases
 
Total
Recorded investment
 
$
6.1

 
$
—

 
$
6.1

 
$
1.6

 
$
—

 
$
1.6

Related allowance
 
2.4

 
—

 
2.4

 
1.6

 
—

 
1.6

Average recorded investment
 
3.0

 
—

 
3.0

 
1.7

 
0.9

 
2.6
Past Due Financing Receivables
The following tables present analysis of aging of recorded investment in finance receivables (in millions):

 
September 30, 2017
 
Current
 
31-60 days past due
 
61-90 days past due
 
Greater than 90 days past due
 
Total past due
 
Total Finance Receivables
Commercial loans
$
225.5

 
$
3.2

 
$
0.1

 
$
1.2

 
$
4.5

 
$
230.0

Sales-type leases
16.7

 
—

 
—

 
—

 
—

 
16.7

Total finance receivables
$
242.2

 
$
3.2

 
$
0.1

 
$
1.2

 
$
4.5

 
$
246.7


 
December 31, 2016
 
Current
 
31-60 days past due
 
61-90 days past due
 
Greater than 90 days past due
 
Total past due
 
Total Finance Receivables
Commercial loans
$
224.2

 
$
0.6

 
$
0.2

 
$
1.4

 
$
2.2

 
$
226.4

Sales-type leases
15.8

 
—

 
0.6

 
—

 
0.6

 
16.4

Total finance receivables
$
240.0

 
$
0.6

 
$
0.8

 
$
1.4

 
$
2.8

 
$
242.8
Financing Receivable Credit Quality Indicators
Finance receivables by risk rating (in millions):

Rating
 
September 30, 2017
 
December 31, 2016
Superior
 
$
6.7

 
$
9.6

Above Average
 
51.4

 
64.7

Average
 
107.6

 
111.3

Below Average
 
69.7

 
53.0

Sub Standard
 
11.3

 
4.2

Total
 
$
246.7


$
242.8