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Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 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 December 31, 2016 and 2015 (dollars in thousands):

		As of December 31, 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		$	8,485			$	—			$	—			$	8,485
Debt securities issued by U.S. federal agencies			—				5,046				—				5,046
Corporate debt securities			—				17,094				—				17,094
Asset-backed securities			—				2,695				—				2,695
Collateralized mortgage obligations			—				1,010				—				1,010
Total debt securities			8,485				25,845				—				34,330
Equity securities			22,744				—				—				22,744
Total available for sale securities			31,229				25,845				—				57,074
Trading securities			52,629				—				—				52,629
Warehouse receivables			—				1,276,047				—				1,276,047
Foreign currency exchange forward contracts			—				1,471				—				1,471
Total assets at fair value		$	83,858			$	1,303,363			$	—			$	1,387,221
Liabilities
Interest rate swaps		$	—			$	13,162			$	—			$	13,162
Securities sold, not yet purchased			3,591				—				—				3,591
Total liabilities at fair value		$	3,591			$	13,162			$	—			$	16,753
		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 these Level 3 assets for the years ended December 31, 2016 and 2015 (dollars in thousands):

		Year Ended December 31,
		2016				2015
Beginning balance		$	1,680			$	2,372
Net gains included in earnings			31,400				21,709
Settlements			(33,080	)			(22,401	)
Ending balance		$	—			$	1,680

Schedule of Non-Recurring Fair Value Measurements

There were no significant non-recurring fair value measurements recorded during the years ended December 31, 2016 and 2015. The following non-recurring fair value measurements were recorded for the year ended December 31, 2014 (dollars in thousands):

		Net Carrying Value as of December 31, 2014				Fair Value Measured and Recorded Using												Total Impairment Charges for the Year Ended December 31, 2014
						Level 1				Level 2				Level 3
Property and equipment		$	—			$	—			$	—			$	—			$	8,615
Investments in unconsolidated subsidiaries		$	26,266			$	—			$	26,266			$	—				3,628
Real estate		$	3,840			$	—			$	3,840			$	—				1,909
Total impairment charges																		$	14,152

X

- Definition

Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3).

+ 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 (bbb)
-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 1
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19190-110258

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258

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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

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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

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