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FINANCE RECEIVABLES (Tables) | 12 Months Ended
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Dec. 31, 2020
Receivables [Abstract] |
Schedule of Accounts, Notes, Loans and Financing Receivable | Finance receivables, net consisted of the following (in millions):
| December 31, 2020 |  | December 31, 2019
Commercial loans | $ | 118.2 |  |  | $ | 145.7 |
Sales-type leases | 11.6 |  |  | 20.5 |
Total finance receivables, gross | 129.8 |  |  | 166.2 |
Allowance for credit losses | (13.8) |  |  | (11.0) |
Total finance receivables, net | $ | 116.0 |  |  | $ | 155.2 |
Impaired Financing Receivables | The following table presents individually impaired finance receivables (in millions):
|  | December 31, 2020 |  | December 31, 2019 |  | December 31, 2018
|  | Commercial Loans |  | Sales-Type Leases |  | Total |  | Commercial Loans |  | Sales-Type Leases |  | Total |  | Commercial Loans |  | Sales-Type Leases |  | Total
Recorded investment |  | $ | 22.0 |  |  | $ | — |  |  | $ | 22.0 |  |  | $ | 7.8 |  |  | $ | — |  |  | $ | 7.8 |  |  | $ | 1.5 |  |  | $ | — |  |  | $ | 1.5 |
Related allowance |  | 10.9 |  |  | — |  |  | 10.9 |  |  | 7.8 |  |  | — |  |  | 7.8 |  |  | 0.6 |  |  | — |  |  | 0.6 |
Average recorded investment |  | 19.2 |  |  | 0.2 |  |  | 19.4 |  |  | 7.5 |  |  | — |  |  | 7.5 |  |  | 2.4 |  |  | — |  |  | 2.4 |
Allowance for Credit Losses on Financing Receivables | The following table presents an analysis of the allowance for credit losses (in millions):
|  | Year Ended December 31, 2020 |  | Year Ended December 31, 2019 |  | Year Ended December 31, 2018
|  | Commercial Loans |  | Sales-Type Leases |  | Total |  | Commercial Loans |  | Sales-Type Leases |  | Total |  | Commercial Loans |  | Sales-Type Leases |  | Total
Balance, beginning of period |  | $ | 10.5 |  |  | $ | 0.5 |  |  | $ | 11.0 |  |  | $ | 4.0 |  |  | $ | 1.5 |  |  | $ | 5.5 |  |  | $ | 5.7 |  |  | $ | 0.9 |  |  | $ | 6.6 |
Provision for credit losses |  | 2.9 |  |  | (0.5) |  |  | 2.4 |  |  | 6.9 |  |  | (1.0) |  |  | 5.9 |  |  | (0.5) |  |  | 0.6 |  |  | 0.1 |
Charge offs |  | (0.2) |  |  | — |  |  | (0.2) |  |  | (0.4) |  |  | — |  |  | (0.4) |  |  | (1.1) |  |  | — |  |  | (1.1) |
Recoveries |  | 0.6 |  |  | — |  |  | 0.6 |  |  | — |  |  | — |  |  | — |  |  | (0.1) |  |  | — |  |  | (0.1) |
Balance, end of period |  | $ | 13.8 |  |  | $ | — |  |  | $ | 13.8 |  |  | $ | 10.5 |  |  | $ | 0.5 |  |  | $ | 11.0 |  |  | $ | 4.0 |  |  | $ | 1.5 |  |  | $ | 5.5 |
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):
|  | December 31, 2020 |  | December 31, 2019
Allowance for credit losses, ending balance: |  | Commercial Loans |  | Sales-Type Leases |  | Total |  | Commercial Loans |  | Sales-Type Leases |  | Total
Individually evaluated for impairment |  | $ | 10.9 |  |  | $ | — |  |  | $ | 10.9 |  |  | $ | 7.8 |  |  | $ | — |  |  | $ | 7.8 |
Collectively evaluated for impairment |  | 2.9 |  |  | — |  |  | 2.9 |  |  | 2.7 |  |  | 0.5 |  |  | 3.2 |
Total allowance for credit losses |  | $ | 13.8 |  |  | $ | — |  |  | $ | 13.8 |  |  | $ | 10.5 |  |  | $ | 0.5 |  |  | $ | 11.0 |
Finance receivables, ending balance: |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  | $ | 22.0 |  |  | $ | — |  |  | $ | 22.0 |  |  | $ | 7.8 |  |  | $ | — |  |  | $ | 7.8 |
Collectively evaluated for impairment |  | 96.2 |  |  | 11.6 |  |  | 107.8 |  |  | 137.9 |  |  | 20.5 |  |  | 158.4 |
Total finance receivables |  | $ | 118.2 |  |  | $ | 11.6 |  |  | $ | 129.8 |  |  | $ | 145.7 |  |  | $ | 20.5 |  |  | $ | 166.2 |
Past Due Financing Receivables | The following tables present analysis of aging of recorded investment in finance receivables (in millions):
| December 31, 2020
| 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 | $ | 104.5 |  |  | $ | 1.3 |  |  | $ | 2.4 |  |  | $ | 10.0 |  |  | $ | 13.7 |  |  | $ | 118.2 |
Sales-type leases | 10.3 |  |  | 1.2 |  |  | — |  |  | 0.1 |  |  | 1.3 |  |  | 11.6 |
Total finance receivables | $ | 114.8 |  |  | $ | 2.5 |  |  | $ | 2.4 |  |  | $ | 10.1 |  |  | $ | 15.0 |  |  | $ | 129.8 |
| December 31, 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 | $ | 135.1 |  |  | $ | 2.4 |  |  | $ | 0.1 |  |  | $ | 8.1 |  |  | $ | 10.6 |  |  | $ | 145.7 |
Sales-type leases | 20.2 |  |  | — |  |  | 0.3 |  |  | — |  |  | 0.3 |  |  | 20.5 |
Total finance receivables | $ | 155.3 |  |  | $ | 2.4 |  |  | $ | 0.4 |  |  | $ | 8.1 |  |  | $ | 10.9 |  |  | $ | 166.2 |
Financing Receivable Credit Quality Indicators | The following table presents finance receivables by risk rating and year of origination as of December 31, 2020 (in millions):
Rating |  | 2020 | 2019 | 2018 | 2017 | 2016 | Prior | Total
Superior |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |
Above Average |  | 5.1 |  | 2.1 |  | 2.6 |  | — |  | — |  | 1.0 |  | 10.8 |
Average |  | 15.1 |  | 27.0 |  | 23.6 |  | 2.7 |  | — |  | — |  | 68.4 |
Below Average |  | 1.6 |  | 16.2 |  | 18.7 |  | 1.6 |  | 3.9 |  | — |  | 42.0 |
Sub Standard |  | — |  | 8.4 |  | 0.2 |  | — |  | — |  | — |  | 8.6 |
Total |  | $ | 21.8 |  | $ | 53.7 |  | $ | 45.1 |  | $ | 4.3 |  | $ | 3.9 |  | $ | 1.0 |  | $ | 129.8 |
The following table present finance receivables by risk rating and year of origination as of December 31, 2019 (in millions):
Rating |  | 2019 | 2018 | 2017 | 2016 | 2015 | Prior | Total |
Superior |  | $ | 1.7 |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 1.7 |  |
Above Average |  | 12.6 |  | 3.0 |  | — |  | — |  | 1.7 |  | — |  | 17.3 |  |
Average |  | 20.8 |  | 17.1 |  | 3.4 |  | 0.7 |  | 0.1 |  | — |  | 42.1 |  |
Below Average |  | 44.6 |  | 43.1 |  | 4.6 |  | 3.9 |  | — |  | — |  | 96.2 |  |
Sub Standard |  | 7.7 |  | 1.1 |  | — |  | — |  | 0.1 |  | — |  | 8.9 |  |
Total |  | $ | 87.4 |  | $ | 64.3 |  | $ | 8.0 |  | $ | 4.6 |  | $ | 1.9 |  | $ | — |  | $ | 166.2 |  |

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- 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://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=119407570&loc=SL82919230-210447 Reference 2: 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=118936363&loc=SL6953659-111524 + Details
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- 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
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