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v3.20.1

Allowance for Doubtful Accounts (Tables) | 3 Months Ended
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Mar. 31, 2020
Receivables [Abstract] |
Notes Receivable Disaggregated by Vintage Year | The following table presents the Company’s two tiers of notes receivable further disaggregated by year of origination as of March 31, 2020. The information is updated as of March 31, 2020:
|  | Notes Receivable |  |  |  |  |  |  |  |  |  |  |  |
|  | Amortized Cost Basis by Origination Year |  |  |  |  |  |  |  |  |  |  |  |
|  | 2020 |  | 2019 |  | 2018 |  | 2017 |  | 2016 |  | Prior |  | Total
|  | (in thousands) |  |  |  |  |  |  |  |  |  |  |  |
Notes Receivable |  |  |  |  |  |  |  |  |  |  |  |  |  |
Standard note receivable |  | $ | 6,810 |  |  |  | $ | 16,058 |  |  |  | $ | 17,745 |  |  |  | $ | 27,066 |  |  |  | $ | 1,989 |  |  |  | $ | 1,606 |  |  |  | $ | 71,274 |
Elevated risk note receivable |  | $ | — |  |  |  | $ | — |  |  |  | $ | 397 |  |  |  | $ | 5,511 |  |  |  | $ | — |  |  |  | $ | 2,457 |  |  |  | $ | 8,365 |
Current-period gross write-offs |  | $ | — |  |  |  | $ | — |  |  |  | $ | — |  |  |  | $ | — |  |  |  | $ | — |  |  |  | $ | — |  |  |  | $ | — |
Current-period recoveries |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Current-period net write-offs |  | $ | — |  |  |  | $ | — |  |  |  | $ | — |  |  |  | $ | — |  |  |  | $ | — |  |  |  | $ | — |  |  |  | $ | — |
Age Analysis of Past-Due Note Receivable | The following table provides information as to the status of payment on the Company’s notes receivable in the manner in which the Company evaluates credit risk amongst the portfolio:
|  | Age Analysis of Past-Due Note Receivable as of March 31, 2020 |  |  |  |  |  |
|  | 0-90 Days |  | 91 - 180 Days |  | Greater than 181 Days |  | Total
|  | (in thousands) |  |  |  |  |  |
Notes Receivable |  |  |  |  |  |  |  |
Standard notes receivable |  | $ | 872 |  |  | $ | 531 |  |  | $ | 2,540 |  |  | $ | 3,943 |
Elevated risk notes receivable |  | 804 |  |  | 532 |  |  | 5,399 |  |  | 6,735 |
|  | $ | 1,676 |  |  |  | $ | 1,063 |  |  |  | $ | 7,939 |  |  |  | $ | 10,678 |
Schedule of Cumulative Effect of Initially Applying New Guidance | The cumulative effect of initially applying the new ASC 326 guidance to the consolidated financial statements on January 1, 2020 was as follows:
Consolidated Statement of Financial Position |  | December 31, 2019 |  | Cumulative Impact from Adopting ASC 326 Guidance |  | January 1, 2020
|  | (in thousands) |  |  |  |
Assets |  |  |  |  |  |
Short-term accounts and notes receivable, less allowance for doubtful accounts |  |  | $ | 340,930 |  |  |  | $ | (41,100) |  |  |  | $ | 299,830 |
Notes receivable – long–term portion, less allowance for doubtful accounts |  |  | $ | 46,992 |  |  |  | $ | (1,136) |  |  |  | $ | 45,856 |
Allowance for doubtful accounts on short-term accounts and notes receivables |  |  | $ | (45,726) |  |  |  | $ | (41,100) |  |  |  | $ | (86,826) |
Allowance for doubtful accounts on long-term notes receivables |  |  | $ | (6,667) |  |  |  | $ | (1,136) |  |  |  | $ | (7,803) |
Deferred income taxes |  |  | $ | 20,364 |  |  |  | $ | 10,137 |  |  |  | $ | 30,501 |
Stockholders’ equity |  |  |  |  |  |  |  |  |  |  |  |
Retained earnings |  |  | $ | 195,455 |  |  |  | $ | (32,099) |  |  |  | $ | 163,356 |
The following table provides a summary of the changes in the Company’s allowance for doubtful accounts on a portfolio segment basis for the three months ended March 31, 2020:
|  | Allowance for doubtful accounts |  |  |  |  |  |  |  |
Portfolio Segment |  | December 31, 2019 |  | Cumulative effect of ASC 326 adoption1 |  | Write-Offs |  | Bad Debt Expense |  | March 31, 2020
|  | (in thousands) |  |  |  |  |  |  |  |
Accounts receivable |  | $ | 39,903 |  |  | $ | 36,709 |  |  | $ | (4,409) |  |  | $ | 2,186 |  |  | $ | 74,389 |
Note receivable |  |  |  |  |  |  |  |  |  |
Standard notes receivable |  | $ | 6,667 |  |  | $ | 5,236 |  |  |  | $ | — |  |  |  | $ | (249) |  |  |  | $ | 11,654 |
Elevated risk notes receivable |  | 5,823 |  |  |  | 291 |  |  |  | — |  |  |  | 123 |  |  |  | 6,237 |
Total notes receivable |  | $ | 12,490 |  |  |  | $ | 5,527 |  |  |  | $ | — |  |  |  | $ | (126) |  |  |  | $ | 17,891 |
Total accounts and notes receivable |  | $ | 52,393 |  |  | $ | 42,236 |  |  | $ | (4,409) |  |  | $ | 2,060 |  |  | $ | 92,280 |
1.Represents a one-time adjustment to the Company’s 2020 opening retained earnings balance in accordance with the adoption of the accounting guidance.
Accounts Receivable, Allowance for Doubtful Accounts | The following table provides a summary of the changes in the Company’s allowance for doubtful accounts on a portfolio segment basis for the three months ended March 31, 2020:
|  | Allowance for doubtful accounts |  |  |  |  |  |  |  |
Portfolio Segment |  | December 31, 2019 |  | Cumulative effect of ASC 326 adoption1 |  | Write-Offs |  | Bad Debt Expense |  | March 31, 2020
|  | (in thousands) |  |  |  |  |  |  |  |
Accounts receivable |  | $ | 39,903 |  |  | $ | 36,709 |  |  | $ | (4,409) |  |  | $ | 2,186 |  |  | $ | 74,389 |
Note receivable |  |  |  |  |  |  |  |  |  |
Standard notes receivable |  | $ | 6,667 |  |  | $ | 5,236 |  |  |  | $ | — |  |  |  | $ | (249) |  |  |  | $ | 11,654 |
Elevated risk notes receivable |  | 5,823 |  |  |  | 291 |  |  |  | — |  |  |  | 123 |  |  |  | 6,237 |
Total notes receivable |  | $ | 12,490 |  |  |  | $ | 5,527 |  |  |  | $ | — |  |  |  | $ | (126) |  |  |  | $ | 17,891 |
Total accounts and notes receivable |  | $ | 52,393 |  |  | $ | 42,236 |  |  | $ | (4,409) |  |  | $ | 2,060 |  |  | $ | 92,280 |
1.Represents a one-time adjustment to the Company’s 2020 opening retained earnings balance in accordance with the adoption of the accounting guidance.
Allowance for Doubtful Accounts | The following table provides a summary of the changes in the Company’s allowance for doubtful accounts on a portfolio segment basis for the three months ended March 31, 2020:
|  | Allowance for doubtful accounts |  |  |  |  |  |  |  |
Portfolio Segment |  | December 31, 2019 |  | Cumulative effect of ASC 326 adoption1 |  | Write-Offs |  | Bad Debt Expense |  | March 31, 2020
|  | (in thousands) |  |  |  |  |  |  |  |
Accounts receivable |  | $ | 39,903 |  |  | $ | 36,709 |  |  | $ | (4,409) |  |  | $ | 2,186 |  |  | $ | 74,389 |
Note receivable |  |  |  |  |  |  |  |  |  |
Standard notes receivable |  | $ | 6,667 |  |  | $ | 5,236 |  |  |  | $ | — |  |  |  | $ | (249) |  |  |  | $ | 11,654 |
Elevated risk notes receivable |  | 5,823 |  |  |  | 291 |  |  |  | — |  |  |  | 123 |  |  |  | 6,237 |
Total notes receivable |  | $ | 12,490 |  |  |  | $ | 5,527 |  |  |  | $ | — |  |  |  | $ | (126) |  |  |  | $ | 17,891 |
Total accounts and notes receivable |  | $ | 52,393 |  |  | $ | 42,236 |  |  | $ | (4,409) |  |  | $ | 2,060 |  |  | $ | 92,280 |
1.Represents a one-time adjustment to the Company’s 2020 opening retained earnings balance in accordance with the adoption of the accounting guidance.

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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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