4. FINANCING RECEIVABLES AND ALLOWANCE FOR CREDIT LOSSES

A financing receivable is a contractual right to receive money, on demand or on fixed or determinable dates, that is recognized as an asset in the creditor’s balance sheet. The Company’s financing receivables, consisting of its accounts receivable with contractual maturities of more than one year and the related allowance for doubtful accounts, notes receivable and short-term investment, are presented in the following table:


(In millions)	June 29, 2012		September 30, 2011
Accounts receivable with contractual maturities of more than one year:
Gross amount	$	26.8	$	16.2
Allowance for doubtful accounts		0.0		0.0

Net amount	$	26.8	$	16.2

Amount past due	$	0.9	$	1.2

Note receivable:
Note receivable from related party	$	5.4	$	8.8

Amount past due	$	0.0	$	0.0

Short-term investment:
Total short-term investment¹	$	47.2	$	19.2

Amount past due	$	0.0	$	0.0

¹	Represents a loan to CPTC. See Note 15, “Variable Interest Entity.”

During the three and nine months ended June 29, 2012, the Company sold $2.2 million and $9.7 million, respectively, of accounts receivable with contractual maturities of more than one year. There was no significant activity in the allowance for doubtful financing receivable accounts during the three and nine months ended June 29, 2012.