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Fair Value Measurements (Tables) | 6 Months Ended
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Jun. 30, 2016
Fair Value Disclosures [Abstract] |
Fair Value of Assets and Liabilities Measured at Fair Value on Recurring Basis | The following tables present the fair value of assets and liabilities measured at fair value on a recurring basis as of June 30, 2016 and December 31, 2015 (dollars in thousands):
|  | As of June 30, 2016 |
|  | Fair Value Measured and Recorded Using |  |  |  |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Available for sale securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. treasury securities |  | $ | 6,752 |  |  | $ | — |  |  | $ | — |  |  | $ | 6,752 |
Debt securities issued by U.S. federal agencies |  |  | — |  |  |  | 5,104 |  |  |  | — |  |  |  | 5,104 |
Corporate debt securities |  |  | — |  |  |  | 18,957 |  |  |  | — |  |  |  | 18,957 |
Asset-backed securities |  |  | — |  |  |  | 2,890 |  |  |  | — |  |  |  | 2,890 |
Collateralized mortgage obligations |  |  | — |  |  |  | 1,297 |  |  |  | — |  |  |  | 1,297 |
Total debt securities |  |  | 6,752 |  |  |  | 28,248 |  |  |  | — |  |  |  | 35,000 |
Equity securities |  |  | 22,968 |  |  |  | — |  |  |  | — |  |  |  | 22,968 |
Total available for sale securities |  |  | 29,720 |  |  |  | 28,248 |  |  |  | — |  |  |  | 57,968 |
Trading securities |  |  | 68,471 |  |  |  | — |  |  |  | — |  |  |  | 68,471 |
Warehouse receivables |  |  | — |  |  |  | 847,712 |  |  |  | — |  |  |  | 847,712 |
Foreign currency exchange forward contracts |  |  | — |  |  |  | 12,586 |  |  |  | — |  |  |  | 12,586 |
Total assets at fair value |  | $ | 98,191 |  |  | $ | 888,546 |  |  | $ | — |  |  | $ | 986,737 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps |  | $ | — |  |  | $ | 22,840 |  |  | $ | — |  |  | $ | 22,840 |
Securities sold, not yet purchased |  |  | 3,084 |  |  |  | — |  |  |  | — |  |  |  | 3,084 |
Foreign currency exchange forward contracts |  |  | — |  |  |  | 5,429 |  |  |  | — |  |  |  | 5,429 |
Total liabilities at fair value |  | $ | 3,084 |  |  | $ | 28,269 |  |  | $ | — |  |  | $ | 31,353 |
|  | As of December 31, 2015 |
|  | Fair Value Measured and Recorded Using |  |  |  |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Available for sale securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. treasury securities |  | $ | 7,350 |  |  | $ | — |  |  | $ | — |  |  | $ | 7,350 |
Debt securities issued by U.S. federal agencies |  |  | — |  |  |  | 3,360 |  |  |  | — |  |  |  | 3,360 |
Corporate debt securities |  |  | — |  |  |  | 18,085 |  |  |  | — |  |  |  | 18,085 |
Asset-backed securities |  |  | — |  |  |  | 1,897 |  |  |  | — |  |  |  | 1,897 |
Collateralized mortgage obligations |  |  | — |  |  |  | 1,752 |  |  |  | — |  |  |  | 1,752 |
Total debt securities |  |  | 7,350 |  |  |  | 25,094 |  |  |  | — |  |  |  | 32,444 |
Equity securities |  |  | 24,118 |  |  |  | — |  |  |  | — |  |  |  | 24,118 |
Total available for sale securities |  |  | 31,468 |  |  |  | 25,094 |  |  |  | — |  |  |  | 56,562 |
Trading securities |  |  | 64,124 |  |  |  | — |  |  |  | — |  |  |  | 64,124 |
Warehouse receivables |  |  | — |  |  |  | 1,767,107 |  |  |  | — |  |  |  | 1,767,107 |
Loan commitments |  |  | — |  |  |  | — |  |  |  | 1,680 |  |  |  | 1,680 |
Foreign currency exchange forward contracts |  |  | — |  |  |  | 9,236 |  |  |  | — |  |  |  | 9,236 |
Total assets at fair value |  | $ | 95,592 |  |  | $ | 1,801,437 |  |  | $ | 1,680 |  |  | $ | 1,898,709 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps |  | $ | — |  |  | $ | 21,502 |  |  | $ | — |  |  | $ | 21,502 |
Securities sold, not yet purchased |  |  | 4,436 |  |  |  | — |  |  |  | — |  |  |  | 4,436 |
Foreign currency exchange forward contracts |  |  | — |  |  |  | 1,008 |  |  |  | — |  |  |  | 1,008 |
Total liabilities at fair value |  | $ | 4,436 |  |  | $ | 22,510 |  |  | $ | — |  |  | $ | 26,946 |
Schedule of Fair Value Measurements for Level 3 Assets | The following table provides additional information about fair value measurements for the Level 3 assets for the six months ended June 30, 2016 (dollars in thousands):
Balance, December 31, 2015 |  | $ | 1,680 |
Net gains included in earnings |  |  | — |
Settlements |  |  | (1,680 | )
Transfers into (out of) Level 3 |  |  | — |
Balance, June 30, 2016 |  | $ | — |

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- Definition Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19279-110258 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19190-110258 + Details
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