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Allowance for Doubtful Accounts (Tables) | 9 Months Ended
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Sep. 30, 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 well as write-off activity for the current nine month period ending September 30, 2020:
|  | Notes Receivable |  |  |  |  |  |  |  |  |  |  |  |
|  | Amortized Cost Basis by Origination Year |  |  |  |  |  |  |  |  |  |  |  |
|  | 2020 |  | 2019 |  | 2018 |  | 2017 |  | 2016 |  | Prior |  | Total
|  | (in thousands) |  |  |  |  |  |  |  |  |  |  |  |
Notes Receivable |  |  |  |  |  |  |  |  |  |  |  |  |  |
Standard notes receivable |  | $ | 7,007 |  |  | $ | 11,716 |  |  | $ | 17,608 |  |  | $ | 26,260 |  |  | $ | 28 |  |  | $ | 1,598 |  |  | $ | 64,217 |
Elevated risk notes receivable |  | $ | — |  |  | $ | 603 |  |  | $ | — |  |  | $ | 5,511 |  |  | $ | — |  |  | $ | 2,421 |  |  | $ | 8,535 |
Current-period gross write-offs |  | $ | — |  |  | $ | — |  |  | $ | 411 |  |  | $ | — |  |  | $ | 1,970 |  |  | $ | 40 |  |  | $ | 2,421 |
Current-period recoveries |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Current-period net write-offs |  | $ | — |  |  | $ | — |  |  | $ | 411 |  |  | $ | — |  |  | $ | 1,970 |  |  | $ | 40 |  |  | $ | 2,421 |
Age Analysis of Past-Due Note Receivable | The following table provides information as to the status of payment on the Company’s notes receivable which were past due as of September 30, 2020:
|  | Age Analysis of Past-Due Notes Receivable as of September 30, 2020 |  |  |  |  |  |
|  | 0-90 Days |  | 91 - 180 Days |  | Greater than 181 Days |  | Total
|  | (in thousands) |  |  |  |  |  |
Notes Receivable |  |  |  |  |  |  |  |
Standard notes receivable |  | $ | 3,979 |  |  | $ | 606 |  |  | $ | 3,425 |  |  | $ | 8,010 |
Elevated risk notes receivable |  | 613 |  |  | 1,035 |  |  | 6,864 |  |  | 8,512 |
|  | $ | 4,592 |  |  | $ | 1,641 |  |  | $ | 10,289 |  |  | $ | 16,522 |
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 and nine months ended September 30, 2020:
|  | Allowance for doubtful accounts |  |  |  |  |  |
Portfolio Segment: |  | June 30 2020 |  | Write-Offs1 |  | Bad Debt Expense |  | September 30 2020
|  | (in thousands) |  |  |  |  |  |
Accounts Receivables |  | $ | 66,299 |  |  | $ | (2,475) |  |  | $ | 967 |  |  | $ | 64,791 |
Notes Receivables |  |  |  |  |  |  |  |
Standard notes receivable |  | $ | 11,869 |  |  | $ | (253) |  |  | $ | (132) |  |  | $ | 11,484 |
Elevated risk notes receivable |  | 5,818 |  |  | — |  |  | — |  |  | 5,818 |
|  | $ | 17,687 |  |  | $ | (253) |  |  | $ | (132) |  |  | $ | 17,302 |
Total accounts and notes receivable |  | $ | 83,986 |  |  | $ | (2,728) |  |  | $ | 835 |  |  | $ | 82,093 |
1.Write-offs are shown net of recoveries. During the three months ended September 30, 2020, the Company collected $0.1 million of accounts receivables that were recovered subsequent to being written-off.
|  | Allowance for doubtful accounts |  |  |  |  |  |  |  |
Portfolio Segment: |  | December 31, 2019 |  | Cumulative effect of ASC 326 adoption1 |  | Write-Offs2 |  | Bad Debt Expense |  | September 30, 2020
|  | (in thousands) |  |  |  |  |  |  |  |
Accounts receivable |  | $ | 39,903 |  |  | $ | 36,709 |  |  | $ | (16,871) |  |  | $ | 5,050 |  |  | $ | 64,791 |
Notes receivable |  |  |  |  |  |  |  |  |  |
Standard notes receivable |  | $ | 6,667 |  |  | $ | 5,236 |  |  | $ | (1,974) |  |  | $ | 1,555 |  |  | $ | 11,484 |
Elevated risk notes receivable |  | 5,823 |  |  | 291 |  |  | (447) |  |  | 151 |  |  | 5,818 |
Total notes receivable |  | $ | 12,490 |  |  | $ | 5,527 |  |  | $ | (2,421) |  |  | $ | 1,706 |  |  | $ | 17,302 |
Total accounts and notes receivable |  | $ | 52,393 |  |  | $ | 42,236 |  |  | $ | (19,292) |  |  | $ | 6,756 |  |  | $ | 82,093 |
1.Represents the pre-tax one-time adjustment to the Company’s 2020 opening retained earnings balance in accordance with the adoption of the CECL accounting guidance. 2.Write-offs are shown net of recoveries. During the nine months ended September 30, 2020, the Company collected $0.9 million of accounts receivables that were recovered subsequent to being written-off.
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 and nine months ended September 30, 2020:
|  | Allowance for doubtful accounts |  |  |  |  |  |
Portfolio Segment: |  | June 30 2020 |  | Write-Offs1 |  | Bad Debt Expense |  | September 30 2020
|  | (in thousands) |  |  |  |  |  |
Accounts Receivables |  | $ | 66,299 |  |  | $ | (2,475) |  |  | $ | 967 |  |  | $ | 64,791 |
Notes Receivables |  |  |  |  |  |  |  |
Standard notes receivable |  | $ | 11,869 |  |  | $ | (253) |  |  | $ | (132) |  |  | $ | 11,484 |
Elevated risk notes receivable |  | 5,818 |  |  | — |  |  | — |  |  | 5,818 |
|  | $ | 17,687 |  |  | $ | (253) |  |  | $ | (132) |  |  | $ | 17,302 |
Total accounts and notes receivable |  | $ | 83,986 |  |  | $ | (2,728) |  |  | $ | 835 |  |  | $ | 82,093 |
1.Write-offs are shown net of recoveries. During the three months ended September 30, 2020, the Company collected $0.1 million of accounts receivables that were recovered subsequent to being written-off.
|  | Allowance for doubtful accounts |  |  |  |  |  |  |  |
Portfolio Segment: |  | December 31, 2019 |  | Cumulative effect of ASC 326 adoption1 |  | Write-Offs2 |  | Bad Debt Expense |  | September 30, 2020
|  | (in thousands) |  |  |  |  |  |  |  |
Accounts receivable |  | $ | 39,903 |  |  | $ | 36,709 |  |  | $ | (16,871) |  |  | $ | 5,050 |  |  | $ | 64,791 |
Notes receivable |  |  |  |  |  |  |  |  |  |
Standard notes receivable |  | $ | 6,667 |  |  | $ | 5,236 |  |  | $ | (1,974) |  |  | $ | 1,555 |  |  | $ | 11,484 |
Elevated risk notes receivable |  | 5,823 |  |  | 291 |  |  | (447) |  |  | 151 |  |  | 5,818 |
Total notes receivable |  | $ | 12,490 |  |  | $ | 5,527 |  |  | $ | (2,421) |  |  | $ | 1,706 |  |  | $ | 17,302 |
Total accounts and notes receivable |  | $ | 52,393 |  |  | $ | 42,236 |  |  | $ | (19,292) |  |  | $ | 6,756 |  |  | $ | 82,093 |
1.Represents the pre-tax one-time adjustment to the Company’s 2020 opening retained earnings balance in accordance with the adoption of the CECL accounting guidance. 2.Write-offs are shown net of recoveries. During the nine months ended September 30, 2020, the Company collected $0.9 million of accounts receivables that were recovered subsequent to being written-off.
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 and nine months ended September 30, 2020:
|  | Allowance for doubtful accounts |  |  |  |  |  |
Portfolio Segment: |  | June 30 2020 |  | Write-Offs1 |  | Bad Debt Expense |  | September 30 2020
|  | (in thousands) |  |  |  |  |  |
Accounts Receivables |  | $ | 66,299 |  |  | $ | (2,475) |  |  | $ | 967 |  |  | $ | 64,791 |
Notes Receivables |  |  |  |  |  |  |  |
Standard notes receivable |  | $ | 11,869 |  |  | $ | (253) |  |  | $ | (132) |  |  | $ | 11,484 |
Elevated risk notes receivable |  | 5,818 |  |  | — |  |  | — |  |  | 5,818 |
|  | $ | 17,687 |  |  | $ | (253) |  |  | $ | (132) |  |  | $ | 17,302 |
Total accounts and notes receivable |  | $ | 83,986 |  |  | $ | (2,728) |  |  | $ | 835 |  |  | $ | 82,093 |
1.Write-offs are shown net of recoveries. During the three months ended September 30, 2020, the Company collected $0.1 million of accounts receivables that were recovered subsequent to being written-off.
|  | Allowance for doubtful accounts |  |  |  |  |  |  |  |
Portfolio Segment: |  | December 31, 2019 |  | Cumulative effect of ASC 326 adoption1 |  | Write-Offs2 |  | Bad Debt Expense |  | September 30, 2020
|  | (in thousands) |  |  |  |  |  |  |  |
Accounts receivable |  | $ | 39,903 |  |  | $ | 36,709 |  |  | $ | (16,871) |  |  | $ | 5,050 |  |  | $ | 64,791 |
Notes receivable |  |  |  |  |  |  |  |  |  |
Standard notes receivable |  | $ | 6,667 |  |  | $ | 5,236 |  |  | $ | (1,974) |  |  | $ | 1,555 |  |  | $ | 11,484 |
Elevated risk notes receivable |  | 5,823 |  |  | 291 |  |  | (447) |  |  | 151 |  |  | 5,818 |
Total notes receivable |  | $ | 12,490 |  |  | $ | 5,527 |  |  | $ | (2,421) |  |  | $ | 1,706 |  |  | $ | 17,302 |
Total accounts and notes receivable |  | $ | 52,393 |  |  | $ | 42,236 |  |  | $ | (19,292) |  |  | $ | 6,756 |  |  | $ | 82,093 |
1.Represents the pre-tax one-time adjustment to the Company’s 2020 opening retained earnings balance in accordance with the adoption of the CECL accounting guidance. 2.Write-offs are shown net of recoveries. During the nine months ended September 30, 2020, the Company collected $0.9 million of accounts receivables that were recovered subsequent to being written-off.

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