Investments (Tables)

9 Months Ended

Jun. 30, 2016

Investments, Debt and Equity Securities [Abstract]

The Company’s consolidated investments are summarized as follows:



	June 30, 2016
	Cost or Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Carrying Value
Asset-based loans	$	48.2	$	—	$	—	$	48.2	$	48.2
Other invested assets	2.5		—		—		2.5		2.5
Total Investments	$	50.7	$	—	$	—	$	50.7	$	50.7



	September 30, 2015
	(As Adjusted)
	Cost or Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Carrying Value
Corporate fixed-maturity securities, available-for-sale	$	14.1	$	—	$	—	$	14.1	$	14.1
Equity securities - held for trading	18.7		14.1		—		32.8		32.8
Asset-based loans	226.7		—		—		226.7		226.7
Other invested assets	5.3		—		—		5.3		5.3
Total Investments	$	264.8	$	14.1	$	—	$	278.9	$	278.9

Portfolio of Asset-Backed Loans and Other Invested Assets

s of June 30, 2016 and September 30, 2015, the Company’s portfolio of asset-based loans receivable originated by Salus and its co-lender Front Street consisted of the following:



	June 30, 2016		September 30, 2015
			(As Adjusted)
Asset-based loans, net of deferred fees, by major industry:
Apparel	$	34.9	$	66.0
Jewelry	16.8		36.9
Manufacturing	11.9		32.7
Electronics	5.2		45.9
Other	13.2		93.1
Total asset-based loans	82.0		274.6
Less: Allowance for credit losses	33.8		47.9
Total asset-based loans, net	$	48.2	$	226.7

Schedule of Allowance for Credit Losses

The following table presents the activity in its allowance for credit losses for the three and nine months ended June 30, 2016 and 2015:



	Three months ended June 30,					Nine months ended June 30,
	2016			2015		2016			2015
Allowance for credit losses:
Balance at beginning of period	$	47.8		$	22.7	$	47.9		$	5.5
Provision for credit losses	(11.7		)	9.4		2.7			77.7
Charge-offs	(5.2		)	—		(19.7		)	(51.1		)
Recoveries	2.9			—		2.9			—
Balance at end of period	$	33.8		$	32.1	$	33.8		$	32.1

Schedule of Credit Quality of Asset-Based Loan Portfolio



	Internal Risk Rating
	Pass		Special Mention		Substandard		Doubtful		Total
June 30, 2016	$	—	$	1.3	$	11.2	$	69.5	$	82.0
September 30, 2015 (As Adjusted)	$	69.0	$	32.4	$	74.0	$	99.2	$	274.6

- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

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