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Significant Accounting Policies and Consolidated Financial Statement Components (Tables) | 6 Months Ended
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Jun. 30, 2013
Accounting Policies [Abstract] |
Components of our aggregated categories of loans and fees receivable, net | Components of our aggregated categories of loans and fees receivable, net (in millions) are as follows:
| Balance at December 31, 2012 |  | Additions |  | Subtractions |  | Balance at June 30, 2013
Loans and fees receivable, gross | $ | 89.1 |  |  | $ | 109.2 |  |  | $ | (98.8 | ) |  | $ | 99.5 |
Deferred revenue | (8.3 | ) |  | (15.1 | ) |  | 13.9 |  |  | (9.5 | )
Allowance for uncollectible loans and fees receivable | (11.2 | ) |  | (10.0 | ) |  | 7.6 |  |  | (13.6 | )
Loans and fees receivable, net | $ | 69.6 |  |  | $ | 84.1 |  |  | $ | (77.3 | ) |  | $ | 76.4 |
| Balance at December 31, 2011 |  | Additions |  | Subtractions |  | Balance at June 30, 2012
Loans and fees receivable, gross | $ | 119.3 |  |  | $ | 95.7 |  |  | $ | (102.5 | ) |  | $ | 112.5 |
Deferred revenue | (8.0 | ) |  | (13.3 | ) |  | 12.8 |  |  | (8.5 | )
Allowance for uncollectible loans and fees receivable | (14.7 | ) |  | (10.3 | ) |  | 8.0 |  |  | (17.0 | )
Loans and fees receivable, net | $ | 96.6 |  |  | $ | 72.1 |  |  | $ | (81.7 | ) |  | $ | 87.0 |
Roll-forward of allowance for uncollectible loans and fees receivable, net | A roll-forward (in millions) of our allowance for uncollectible loans and fees receivable by class of receivable is as follows:
For the Three Months Ended June 30, 2013 | Credit Cards |  | Auto Finance |  | Other Unsecured Lending Products |  | Total
Allowance for uncollectible loans and fees receivable: |  |  |  |  |  |  |
Balance at beginning of period | $ | (4.0 | ) |  | $ | (2.6 | ) |  | $ | (3.5 | ) |  | $ | (10.1 | )
Provision for loan losses | (3.7 | ) |  | 0.5 |  |  | (3.5 | ) |  | (6.7 | )
Charge offs | 1.5 |  |  | 1.2 |  |  | 1.0 |  |  | 3.7 |
Recoveries | (0.1 | ) |  | (0.3 | ) |  | (0.1 | ) |  | (0.5 | )
Balance at end of period | $ | (6.3 | ) |  | $ | (1.2 | ) |  | $ | (6.1 | ) |  | $ | (13.6 | )
Balance at end of period individually evaluated for impairment | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Balance at end of period collectively evaluated for impairment | $ | (6.3 | ) |  | $ | (1.2 | ) |  | $ | (6.1 | ) |  | $ | (13.6 | )
For the Six Months Ended June 30, 2013 | Credit Cards |  | Auto Finance |  | Other Unsecured Lending Products |  | Total
Allowance for uncollectible loans and fees receivable: |  |  |  |  |  |  |
Balance at beginning of period | $ | (4.6 | ) |  | $ | (3.1 | ) |  | $ | (3.5 | ) |  | $ | (11.2 | )
Provision for loan losses | (5.9 | ) |  | 0.7 |  |  | (4.8 | ) |  | (10.0 | )
Charge offs | 4.3 |  |  | 2.3 |  |  | 2.3 |  |  | 8.9 |
Recoveries | (0.1 | ) |  | (1.1 | ) |  | (0.1 | ) |  | (1.3 | )
Balance at end of period | $ | (6.3 | ) |  | $ | (1.2 | ) |  | $ | (6.1 | ) |  | $ | (13.6 | )
Balance at end of period individually evaluated for impairment | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Balance at end of period collectively evaluated for impairment | $ | (6.3 | ) |  | $ | (1.2 | ) |  | $ | (6.1 | ) |  | $ | (13.6 | )
Loans and fees receivable: |  |  |  |  |  |  |  |  |  |  |
Loans and fees receivable, gross | $ | 13.2 |  |  | $ | 60.7 |  |  | $ | 25.6 |  |  | $ | 99.5 |
Loans and fees receivable individually evaluated for impairment | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Loans and fees receivable collectively evaluated for impairment | $ | 13.2 |  |  | $ | 60.7 |  |  | $ | 25.6 |  |  | $ | 99.5 |
For the Three Months Ended June 30, 2012 | Credit Cards |  | Auto Finance |  | Other Unsecured Lending Products |  | Total
Allowance for uncollectible loans and fees receivable: |  |  |  |  |  |  |
Balance at beginning of period | $ | (4.5 | ) |  | $ | (6.1 | ) |  | $ | (1.9 | ) |  | $ | (12.5 | )
Provision for loan losses (includes $1.4 million of provision netted within income from discontinued operations) | (7.1 | ) |  | 0.7 |  |  | (1.0 | ) |  | (7.4 | )
Charge offs | 1.4 |  |  | 1.8 |  |  | 0.9 |  |  | 4.1 |
Recoveries | (0.3 | ) |  | (0.9 | ) |  | — |  |  | (1.2 | )
Balance at end of period | $ | (10.5 | ) |  | $ | (4.5 | ) |  | $ | (2.0 | ) |  | $ | (17.0 | )
Balance at end of period individually evaluated for impairment | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Balance at end of period collectively evaluated for impairment | $ | (10.5 | ) |  | $ | (4.5 | ) |  | $ | (2.0 | ) |  | $ | (17.0 | )
For the Six Months Ended June 30, 2012 | Credit Cards |  | Auto Finance |  | Other Unsecured Lending Products |  | Total
Allowance for uncollectible loans and fees receivable: |  |  |  |  |  |  |
Balance at beginning of period | $ | (4.0 | ) |  | $ | (8.4 | ) |  | $ | (2.3 | ) |  | $ | (14.7 | )
Provision for loan losses (includes $1.8 million of provision netted within income from discontinued operations) | (8.9 | ) |  | 1.3 |  |  | (2.7 | ) |  | (10.3 | )
Charge offs | 3.0 |  |  | 4.7 |  |  | 3.0 |  |  | 10.7 |
Recoveries | (0.6 | ) |  | (2.1 | ) |  | — |  |  | (2.7 | )
Balance at end of period | $ | (10.5 | ) |  | $ | (4.5 | ) |  | $ | (2.0 | ) |  | $ | (17.0 | )
Balance at end of period individually evaluated for impairment | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Balance at end of period collectively evaluated for impairment | $ | (10.5 | ) |  | $ | (4.5 | ) |  | $ | (2.0 | ) |  | $ | (17.0 | )
Loans and fees receivable: |  |  |  |  |  |  |  |  |  |  |
Loans and fees receivable, gross | $ | 27.9 |  |  | $ | 73.4 |  |  | $ | 11.2 |  |  | $ | 112.5 |
Loans and fees receivable individually evaluated for impairment | $ | — |  |  | $ | 0.1 |  |  | $ | — |  |  | $ | 0.1 |
Loans and fees receivable collectively evaluated for impairment | $ | 27.9 |  |  | $ | 73.3 |  |  | $ | 11.2 |  |  | $ | 112.4 |
Components of loans and fees receivable, net | The components (in millions) of loans and fees receivable, net as of the date of each of our consolidated balance sheets are as follows:
| June 30, 2013 |  | December 31, 2012
Current loans receivable | $ | 82.4 |  |  | $ | 71.4 |
Current fees receivable | 3.0 |  |  | 0.8 |
Delinquent loans and fees receivable | 14.1 |  |  | 16.9 |
Loans and fees receivable, gross | $ | 99.5 |  |  | $ | 89.1 |
Delinquent loans and fees receivable, gross | We consider loan delinquencies a key indicator of credit quality as this measure provides the best ongoing estimate of how a particular class of receivables is performing. An aging of our delinquent loans and fees receivable, gross (in millions) by class of receivable as of June 30, 2013 and December 31, 2012 is as follows:
Balance at June 30, 2013 | Credit Cards |  | Auto Finance |  | Other Unsecured Lending Products |  | Total
30-59 days past due | $ | 1.2 |  |  | $ | 5.2 |  |  | $ | 1.2 |  |  | $ | 7.6 |
60-89 days past due | 0.9 |  |  | 1.5 |  |  | 0.8 |  |  | 3.2 |
90 or more days past due | 1.5 |  |  | 0.6 |  |  | 1.2 |  |  | 3.3 |
Delinquent loans and fees receivable, gross | 3.6 |  |  | 7.3 |  |  | 3.2 |  |  | 14.1 |
Current loans and fees receivable, gross | 9.6 |  |  | 53.4 |  |  | 22.4 |  |  | 85.4 |
Total loans and fees receivable, gross | $ | 13.2 |  |  | $ | 60.7 |  |  | $ | 25.6 |  |  | $ | 99.5 |
Balance of loans 90 or more days past due and still accruing interest and fees | $ | — |  |  | $ | 0.1 |  |  | $ | — |  |  | $ | 0.1 |
Balance at December 31, 2012 | Credit Cards |  | Auto Finance |  | Other Unsecured Lending Products |  | Total
30-59 days past due | $ | 0.7 |  |  | $ | 5.4 |  |  | $ | 0.6 |  |  | $ | 6.7 |
60-89 days past due | 1.0 |  |  | 2.0 |  |  | 0.5 |  |  | 3.5 |
90 or more days past due | 4.2 |  |  | 1.6 |  |  | 0.9 |  |  | 6.7 |
Delinquent loans and fees receivable, gross | 5.9 |  |  | 9.0 |  |  | 2.0 |  |  | 16.9 |
Current loans and fees receivable, gross | 1.3 |  |  | 55.2 |  |  | 15.7 |  |  | 72.2 |
Total loans and fees receivable, gross | $ | 7.2 |  |  | $ | 64.2 |  |  | $ | 17.7 |  |  | $ | 89.1 |
Balance of loans 90 or more days past due and still accruing interest and fees | $ | — |  |  | $ | 0.5 |  |  | $ | — |  |  | $ | 0.5 |
Components of fees and related income on earning assets | The components (in thousands) of our fees and related income on earning assets are as follows:
| Three months ended June 30, |  | Six months ended June 30,
| 2013 |  | 2012 |  | 2013 |  | 2012
Fees on credit products | $ | 5,385 |  |  | $ | 4,031 |  |  | $ | 9,301 |  |  | $ | 6,994 |
Changes in fair value of loans and fees receivable recorded at fair value | 8,342 |  |  | 26,942 |  |  | 25,065 |  |  | 82,871 |
Changes in fair value of notes payable associated with structured financings recorded at fair value | (970 | ) |  | (16,073 | ) |  | (15,575 | ) |  | (25,390 | )
Other | (2,538 | ) |  | (469 | ) |  | (1,766 | ) |  | (177 | )
Total fees and related income on earning assets | $ | 10,219 |  |  | $ | 14,431 |  |  | $ | 17,025 |  |  | $ | 64,298 |

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