XML 48 R38.htm IDEA: XBRL DOCUMENT

VARIABLE INTEREST ENTITIES (Tables)

6 Months Ended

Jun. 30, 2023

Variable Interest Entity [Line Items]

The following table represents the carrying value of the associated unconsolidated assets and liabilities and the associated maximum loss exposure for alternative energy partnerships as of the dates indicated:


($ in thousands)	June 30, 2023		December 31, 2022
Cash	$	2,910	$	4,110
Equipment, net of depreciation	233,152		237,641
Other assets	10,078		9,838
Total unconsolidated assets	$	246,140	$	251,589
Total unconsolidated liabilities	$	11,426	$	11,679


Maximum loss exposure	$	19,111	$	21,410

Variable Interest Entity, Not Primary Beneficiary

Variable Interest Entity [Line Items]

Schedule of Unconsolidated VIEs

The following table presents information regarding activity in our alternative energy partnerships for the periods indicated:


	Three Months Ended June 30,				Six Months Ended June 30,
($ in thousands)	2023		2022		2023		2022

Return of capital	$	352	$	582	$	717	$	1,156

Gain (loss) on investments in alternative energy partnerships	36		(1,043)		(1,582)		(1,201)

Tax expense (benefit) recognized from HLBV application	10		(301)		(457)		(347)

Variable Interest Entity, Not Primary Beneficiary | Affordable Housing Fund Investment

Variable Interest Entity [Line Items]

Schedule of Unconsolidated VIEs

The following table presents information regarding balances in LIHTC investments for the periods indicated:


($ in thousands)	June 30, 2023		December 31, 2022
Ending balance(1)	$	42,818	$	45,726
Aggregate funding commitment	72,997		72,967
Total amount funded	57,290		55,487
Unfunded commitment	15,707		17,480
Maximum loss exposure	42,818		45,726

(1)Included in other assets in the accompanying Consolidated Statements of Financial Condition.

The following table presents information regarding activity in our LIHTC investments for the periods indicated:


	Three Months Ended June 30,				Six Months Ended June 30,
($ in thousands)	2023		2022		2023		2022
Fundings	$	1,168	$	919	$	1,803	$	2,024
Proportional amortization recognized	1,427		1,027		2,938		2,573
Income tax credits recognized	1,688		1,163		3,375		2,536

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

+ References + Details

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details