XML 68 R42.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Fair Value of Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2019
Fair Value Disclosures [Abstract]  
Summary of Fair Value Measurements and Hierarchy Level
The following tables are a summary of fair value measurements and hierarchy level at December 31, 2019 and 2018 (in thousands):

December 31, 2019
Carrying Value
Level 1
Level 2
Level 3
Assets:
Money market funds (1)
$56,435  $56,435  $—  $—  
Beneficial interests in securitizations
98,780  —  29,222  69,558  

December 31, 2018
Carrying Value
Level 1
Level 2
Level 3
Assets:
Money market funds (1)
$63,713  $63,713  $—  $—  
(1) Consist of highly liquid investments with original maturities of three months or less and classified in cash and cash equivalents in the accompanying consolidated balance sheets.
Scheduled of Additional Information of Beneficial Interests in Securitizations
The following table presents additional information about Level 3 beneficial interests in securitizations measured at fair value on a recurring basis for the year ended December 31, 2019 (in thousands):

Year Ended December 31, 2019
Opening Balance$—  
Transfers into Level 380,081  
Cash receipts(9,559) 
Change in fair value(964) 
Ending Balance$69,558  
Schedule of Fair Value Senior Notes and Carrying Value and Fair Value of Finance Receivables The fair value of the Senior Notes as of December 31, 2019 and 2018 was as follows (in thousands):
December 31,
20192018
Carrying value, net of unamortized debt issuance costs$591,124  $342,869  
Fair value625,114  319,375  
The carrying value and fair value of the finance receivables as of December 31, 2019 and 2018 were as follows (in thousands):
December 31,
20192018
Carrying value$286,969  $105,200  
Fair value304,532  109,703