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Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2021

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 measured at fair value on a recurring basis as of March 31, 2021 and December 31, 2020 (dollars in thousands):

			As of March 31, 2021
			Fair Value Measured and Recorded Using
			Level 1						Level 2						Level 3						Total
Assets
Available for sale securities:
Debt securities:
U.S. treasury securities			$	7,115					$	—					$	—					$	7,115
Debt securities issued by U.S. federal agencies			—						9,489						—						9,489
Corporate debt securities			—						50,514						—						50,514
Asset-backed securities			—						3,791						—						3,791
Collateralized mortgage obligations			—						1,369						—						1,369
Total available for sale debt securities			7,115						65,163						—						72,278
Equity securities			44,592						—						—						44,592
Investments in unconsolidated subsidiaries			—						—						216,939						216,939
Warehouse receivables			—						686,317						—						686,317
Total assets at fair value			$	51,707					$	751,480					$	216,939					$	1,020,126

			As of December 31, 2020
			Fair Value Measured and Recorded Using
			Level 1						Level 2						Level 3						Total
Assets
Available for sale securities:
Debt securities:
U.S. treasury securities			$	7,270					$	—					$	—					$	7,270
Debt securities issued by U.S. federal agencies			—						10,216						—						10,216
Corporate debt securities			—						51,244						—						51,244
Asset-backed securities			—						3,801						—						3,801
Collateralized mortgage obligations			—						1,369						—						1,369
Total available for sale debt securities			7,270						66,630						—						73,900
Equity securities			43,334						—						—						43,334
Investments in unconsolidated subsidiaries			—						—						50,000						50,000
Warehouse receivables			—						1,411,170						—						1,411,170
Total assets at fair value			$	50,604					$	1,477,800					$	50,000					$	1,578,404

Summary of Non-Recurring Fair Value Measurement

The following non-recurring fair value measurements were recorded for the three months ended March 31, 2020 (dollars in thousands):

			Net Carrying Value as of March 31, 2020						Fair Value Measured and Recorded Using																		Total Impairment Charges for the Three Months Ended March 31, 2020
									Level 1						Level 2						Level 3
Property and equipment			$	10,185					$	—					$	—					$	10,185					$	21,663
Goodwill			418,861						—						—						418,861						25,000
Other intangible assets			13,403						—						—						13,403						28,508
Total			$	442,449					$	—					$	—					$	442,449					$	75,171

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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (bbb)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

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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/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

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