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Cancellation Reserves
 9 Months Ended
Nov. 30, 2014
Cancellation Reserves [Abstract]  
Cancellation Reserves

7.Cancellation Reserves

 

We recognize commission revenue for EPP products at the time of sale, net of a reserve for estimated contract cancellations.  Cancellations of these services may result from early termination by the customer, or default or prepayment on the finance contract.  The reserve for cancellations is evaluated for each product, and is based on forecasted forward cancellation curves utilizing historical experience, recent trends and credit mix of the customer base. 

Cancellation Reserves

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended November 30

 

Nine Months Ended November 30

(In millions)

 

 

2014

 

 

2013

 

 

2014

 

 

2013

Balance as of beginning of period

 

$
86.0 

 

$
34.0 

 

$
72.5 

 

$
32.7 

Cancellations

 

 
(12.4)

 

 
(10.2)

 

 
(37.4)

 

 
(27.2)

Provision for future cancellations

 

 
15.3 

 

 
16.9 

 

 
53.8 

 

 
35.2 

Balance as of end of period

 

$
88.9 

 

$
40.7 

 

$
88.9 

 

$
40.7