Notes Receivable and Allowance for Losses (Tables)

9 Months Ended

Sep. 30, 2014

Notes Receivable and Allowance for Losses [Line Items]

The following table shows the composition of our notes receivable balances:



	September 30, 2014						December 31, 2013
	(in thousands)						(in thousands)
Credit Quality Indicator	Forgivable Notes Receivable		Mezzanine & Other Notes Receivable		Total		Forgivable Notes Receivable		Mezzanine & Other Notes Receivable		Total
Senior	$	—	$	10,150	$	10,150	$	—	$	18,052	$	18,052
Subordinated	—		14,867		14,867		—		14,152		14,152
Unsecured	25,660		4,071		29,731		20,625		3,405		24,030
Total notes receivable	25,660		29,088		54,748		20,625		35,609		56,234
Allowance for losses on non-impaired loans	1,951		1,570		3,521		1,650		1,607		3,257
Allowance for losses on receivables specifically evaluated for impairment	547		8,348		8,895		—		8,289		8,289
Total loan reserves	2,498		9,918		12,416		1,650		9,896		11,546
Net carrying value	$	23,162	$	19,170	$	42,332	$	18,975	$	25,713	$	44,688
Current portion, net	$	65	$	7,222	$	7,287	$	361	$	12,455	$	12,816
Long-term portion, net	23,097		11,948		35,045		18,614		13,258		31,872
Total	$	23,162	$	19,170	$	42,332	$	18,975	$	25,713	$	44,688

Summary Of Activity Related To Allowance For Losses

The following table summarizes the activity related to the Company’s Forgivable Notes Receivable and Mezzanine and Other Notes Receivable allowance for losses for the nine months ended September 30, 2014:



	Forgivable Notes Receivable			Mezzanine & Other Notes Receivable
	(in thousands)
Beginning balance	$	1,650		$	9,896
Provisions	1,253			102
Recoveries	(208		)	(80		)
Write-offs	(217		)	—
Other⁽¹⁾	20			—
Ending balance	$	2,498		$	9,918

(1) Consists of default rate assumption changes

Accretable Yield Reconciliation

The Company's accretable yield at acquisition was $1.8 million or 7.36% and a reconciliation of the accretable yield for the nine months ended September 30, 2014 is as follows:



	Accretable Yield
	(in thousands)
Beginning balance	$	582
Additions	—
Accretion	(143		)
Disposals	(439		)
Reclassifications from nonaccretable yield	—
Ending balance	$	—

Forgivable Notes Receivable [Member]

Notes Receivable and Allowance for Losses [Line Items]

Past Due Balances Of Notes Receivable

Past due balances of forgivable notes receivable are as follows:



	30-89 days Past Due		> 90 days Past Due		Total Past Due		Current		Total Notes Receivable
	(in thousands)
As of September 30, 2014
Forgivable Notes	$	—	$	1,277	$	1,277	$	24,383	$	25,660
	$	—	$	1,277	$	1,277	$	24,383	$	25,660

As of December 31, 2013
Forgivable Notes	$	—	$	—	$	—	$	20,625	$	20,625
	$	—	$	—	$	—	$	20,625	$	20,625

Mezzanine & Other Notes Receivable [Member]

Notes Receivable and Allowance for Losses [Line Items]

Past Due Balances Of Notes Receivable

Past due balances of mezzanine and other notes receivable by credit quality indicators are as follows:



	30-89 days Past Due		> 90 days Past Due		Total Past Due		Current		Total Notes Receivable
	(in thousands)
As of September 30, 2014
Senior	$	—	$	—	$	—	$	10,150	$	10,150
Subordinated	—		10,986		10,986		3,881		14,867
Unsecured	—		47		47		4,024		4,071
	$	—	$	11,033	$	11,033	$	18,055	$	29,088
As of December 31, 2013
Senior	$	—	$	—	$	—	$	18,052	$	18,052
Subordinated	—		9,629		9,629		4,523		14,152
Unsecured	—		47		47		3,358		3,405
	$	—	$	9,676	$	9,676	$	25,933	$	35,609