XML 37 R27.htm IDEA: XBRL DOCUMENT
v3.19.2

FINANCE RECEIVABLES (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2019
Receivables [Abstract] |
Schedule of Accounts, Notes, Loans and Financing Receivable | Finance receivables, net consisted of the following (in millions):
| June 30, 2019 |  | December 31, 2018
Commercial loans | $ | 148.9 |  |  | $ | 154.0 |
Sales-type leases | 45.9 |  |  | 45.5 |
Total finance receivables, gross | 194.8 |  |  | 199.5 |
Allowance for credit losses | (12.1 | ) |  | (5.5 | )
Total finance receivables, net | $ | 182.7 |  |  | $ | 194.0 |
Allowance for Credit Losses on Financing Receivables | The allowance for credit losses and finance receivables by portfolio, segregated by those amounts that are individually evaluated for impairment and those that are collectively evaluated for impairment, was as follows (in millions):
|  | June 30, 2019 |  | December 31, 2018
Allowance for credit losses, ending balance: |  | Commercial Loans |  | Sales-Type Leases |  | Total |  | Commercial Loans |  | Sales-Type Leases |  | Total
Individually evaluated for impairment |  | $ | 8.0 |  |  | $ | — |  |  | $ | 8.0 |  |  | $ | 0.6 |  |  | $ | — |  |  | $ | 0.6 |
Collectively evaluated for impairment |  | 2.9 |  |  | 1.2 |  |  | 4.1 |  |  | 3.4 |  |  | 1.5 |  |  | 4.9 |
Total allowance for credit losses |  | $ | 10.9 |  |  | $ | 1.2 |  |  | $ | 12.1 |  |  | $ | 4.0 |  |  | $ | 1.5 |  |  | $ | 5.5 |
Finance receivables, ending balance: |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  | $ | 8.2 |  |  | $ | — |  |  | $ | 8.2 |  |  | $ | 1.5 |  |  | $ | — |  |  | $ | 1.5 |
Collectively evaluated for impairment |  | 140.7 |  |  | 45.9 |  |  | 186.6 |  |  | 152.5 |  |  | 45.5 |  |  | 198.0 |
Total finance receivables |  | $ | 148.9 |  |  | $ | 45.9 |  |  | $ | 194.8 |  |  | $ | 154.0 |  |  | $ | 45.5 |  |  | $ | 199.5 |
The following table presents an analysis of the allowance for credit losses (in millions):
|  | Three Months Ended June 30, 2019 |  | Three Months Ended June 30, 2018
|  | Commercial Loans |  | Sales-Type Leases |  | Total |  | Commercial Loans |  | Sales-Type Leases |  | Total
Balance, beginning of period |  | $ | 11.4 |  |  | $ | 1.2 |  |  | $ | 12.6 |  |  | $ | 2.3 |  |  | $ | 1.5 |  |  | $ | 3.8 |
Provision for credit losses |  | 0.3 |  |  | — |  |  | 0.3 |  |  | 0.7 |  |  | — |  |  | 0.7 |
Charge offs |  | (0.8 | ) |  | — |  |  | (0.8 | ) |  | — |  |  | — |  |  | — |
Balance, end of period |  | $ | 10.9 |  |  | $ | 1.2 |  |  | $ | 12.1 |  |  | $ | 3.0 |  |  | $ | 1.5 |  |  | $ | 4.5 |
|  | Six Months Ended June 30, 2019 |  | Six Months Ended June 30, 2018
|  | Commercial Loans |  | Sales-Type Leases |  | Total |  | Commercial Loans |  | Sales-Type Leases |  | Total
Balance, beginning of period |  | $ | 4.0 |  |  | $ | 1.5 |  |  | $ | 5.5 |  |  | $ | 5.7 |  |  | $ | 0.9 |  |  | $ | 6.6 |
Provision for credit losses |  | 7.7 |  |  | (0.3 | ) |  | 7.4 |  |  | (1.6 | ) |  | 0.6 |  |  | (1.0 | )
Charge offs |  | (0.8 | ) |  | — |  |  | (0.8 | ) |  | (1.1 | ) |  | — |  |  | (1.1 | )
Balance, end of period |  | $ | 10.9 |  |  | $ | 1.2 |  |  | $ | 12.1 |  |  | $ | 3.0 |  |  | $ | 1.5 |  |  | $ | 4.5 |
Impaired Financing Receivables | The following table presents individually impaired finance receivables (in millions):
|  | June 30, 2019 |  | December 31, 2018
|  | Commercial Loans |  | Sales-Type Leases |  | Total |  | Commercial Loans |  | Sales-Type Leases |  | Total
Recorded investment |  | $ | 8.2 |  |  | $ | — |  |  | $ | 8.2 |  |  | $ | 1.5 |  |  | $ | — |  |  | $ | 1.5 |
Related allowance |  | 8.0 |  |  | — |  |  | 8.0 |  |  | 0.6 |  |  | — |  |  | 0.6 |
Average recorded investment |  | 7.3 |  |  | — |  |  | 7.3 |  |  | 2.4 |  |  | — |  |  | 2.4 |
Past Due Financing Receivables | The following tables present analysis of aging of recorded investment in finance receivables (in millions):
| June 30, 2019
| Current |  | 31-60 days past due |  | 61-90 days past due |  | Greater than 90 days past due |  | Total past due |  | Total Finance Receivables
Commercial loans | $ | 139.9 |  |  | $ | 0.7 |  |  | $ | — |  |  | $ | 8.3 |  |  | $ | 9.0 |  |  | $ | 148.9 |
Sales-type leases | 45.2 |  |  | 0.7 |  |  | — |  |  | — |  |  | 0.7 |  |  | 45.9 |
Total finance receivables | $ | 185.1 |  |  | $ | 1.4 |  |  | $ | — |  |  | $ | 8.3 |  |  | $ | 9.7 |  |  | $ | 194.8 |
| December 31, 2018
| Current |  | 31-60 days past due |  | 61-90 days past due |  | Greater than 90 days past due |  | Total past due |  | Total Finance Receivables
Commercial loans | $ | 152.2 |  |  | $ | 0.1 |  |  | $ | — |  |  | $ | 1.7 |  |  | $ | 1.8 |  |  | $ | 154.0 |
Sales-type leases | 45.3 |  |  | 0.2 |  |  | — |  |  | — |  |  | 0.2 |  |  | 45.5 |
Total finance receivables | $ | 197.5 |  |  | $ | 0.3 |  |  | $ | — |  |  | $ | 1.7 |  |  | $ | 2.0 |  |  | $ | 199.5 |
Financing Receivable Credit Quality Indicators | Finance receivables by risk rating (in millions):
Rating |  | June 30, 2019 |  | December 31, 2018
Superior |  | $ | 2.0 |  |  | $ | 7.5 |
Above Average |  | 20.0 |  |  | 30.7 |
Average |  | 56.7 |  |  | 56.9 |
Below Average |  | 106.8 |  |  | 94.5 |
Sub Standard |  | 9.3 |  |  | 9.9 |
Total |  | $ | 194.8 |  |  | $ | 199.5 |
The Company believes the finance receivables retained, net of allowance for credit losses, are collectible.

X
- Definition Tabular disclosure of financing receivables (examples of financing receivables include loans, trade accounts receivable and notes receivable) and activity in the allowance for credit losses account. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 11B -URI http://asc.fasb.org/extlink&oid=84173941&loc=SL6953423-111524 + Details
Name: | us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of financing receivables by credit quality indicator. The credit quality indicator is a statistic about the credit quality of financing receivables. Examples include, but not limited to, consumer credit risk scores, credit-rating-agency ratings, an entity's internal credit risk grades, loan-to-value ratios, collateral, collection experience and other internal metrics. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=84173941&loc=SL6953659-111524 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 55 -Paragraph 19 -URI http://asc.fasb.org/extlink&oid=82894031&loc=SL6953803-111525 + Details
Name: | us-gaap_FinancingReceivableCreditQualityIndicatorsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of impaired financing receivables. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=84173941&loc=d3e5212-111524 + Details
Name: | us-gaap_ImpairedFinancingReceivablesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of financing receivables that are past due but not impaired, financing receivables that are 90 days past due and still accruing, and financing receivables on nonaccrual status. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 7A -URI http://asc.fasb.org/extlink&oid=84173941&loc=SL6953401-111524 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=84173941&loc=d3e5111-111524 + Details
Name: | us-gaap_PastDueFinancingReceivablesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_ReceivablesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.3,4) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
Name: | us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration