XML 33 R22.htm IDEA: XBRL DOCUMENT v3.5.0.2

Fair Value Measurements (Tables)

6 Months Ended

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		$	—

X

- 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

Name:	us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_FairValueDisclosuresAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- 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

Name:	us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration