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ACCOUNTS RECEIVABLE, NOTES RECEIVABLE, ALLOWANCE FOR DOUBTFUL ACCOUNTS AND BAD DEBT (Tables)
 12 Months Ended
Jun. 30, 2013
Summary of Components of Current and Long-Term Accounts and Notes Receivable, Net

The following summarizes the components of current and long-term accounts and notes receivable, net:

 

     As of
June 30,		  
     2013     2012  

Current, net:

     

Accounts receivable

    $ 152.4      $ 106.3   

Notes receivable

      173.8        183.4   

Allowance for doubtful accounts

      (8.9 )      (6.9 ) 
  

 

 

    

 

 

  

Current accounts and notes receivable, net

    $ 317.3      $ 282.8   
  

 

 

    

 

 

  

Long-term, net:

     

Notes receivable

    $ 92.5      $ 122.3   

Allowance for doubtful accounts

      —         —    
  

 

 

    

 

 

  

Long-term notes receivable, net

    $ 92.5      $ 122.3   
  

 

 

    

 

 

  

Total accounts and notes receivable, net

    $ 409.8      $ 405.1   
  

 

 

    

 

 

  
Components of Total Notes Receivable, Net

The following summarizes the components of total notes receivable, net:

 

     As of
June 30,
2013		     Balances that are
over 90 days past
due		  

Notes receivable:

     

Domestic

    $ 84.8      $ 0.7   

International

      181.5        8.2   
  

 

 

    

 

 

  

Notes receivable subtotal

      266.3        8.9   

Allowance for doubtful accounts

      (5.0 )      (4.0 ) 
  

 

 

    

 

 

  

Total notes receivable, net

    $ 261.3      $ 4.9   
  

 

 

    

 

 

  

 

     As of
June 30,
2012		     Balances that are
over 90 days past
due		  

Notes receivable:

     

Domestic

    $ 123.4      $ 1.4   

International

      182.3        5.2   
  

 

 

    

 

 

  

Notes receivable subtotal

      305.7        6.6   

Allowance for doubtful accounts

      (4.3 )      (1.5 ) 
  

 

 

    

 

 

  

Total notes receivable, net

    $ 301.4      $ 5.1   
  

 

 

    

 

 

  
Evaluation of Notes Receivable for Impairment

The following tables detail our evaluation of notes receivable for impairment:

 

     As of
June 30,
2013		      Ending Balance
Individually Evaluated
for Impairment		      Ending Balance
Collectively Evaluated
for Impairment		  

Notes receivable:

         

Domestic

    $ 84.8       $ 5.7       $ 79.1   

International

      181.5         75.6         105.9   
  

 

 

     

 

 

     

 

 

  

Total notes receivable

    $ 266.3       $ 81.3       $ 185.0   
  

 

 

     

 

 

     

 

 

  
     As of
June 30,
2012		      Ending Balance
Individually Evaluated
for Impairment		      Ending Balance
Collectively Evaluated
for Impairment		  

Notes receivable:

         

Domestic

    $ 123.4       $ 10.8       $ 112.6   

International

      182.3         60.4         121.9   
  

 

 

     

 

 

     

 

 

  

Total notes receivable

    $ 305.7       $ 71.2       $ 234.5   
  

 

 

     

 

 

     

 

 

  
Reconciliation of Current and Non-Current Allowance for Doubtful Notes Receivable

The following table reconciles the current and non-current allowance for doubtful notes receivable from June 30, 2012 to June 30, 2013, and from June 30, 2011 to June 30, 2012:

 

     Total     Ending Balance
Individually Evaluated
for Impairment		     Ending Balance
Collectively Evaluated
for Impairment		  

Balance at June 30, 2012

    $ 4.3      $ 4.3      $ 0.0   

Charge-offs

      (0.6 )      (0.6 )      0.0   

Recoveries

      0.0        0.0        0.0   

Provision

      1.3        1.3        0.0   
  

 

 

    

 

 

    

 

 

  

Balance at June 30, 2013

    $ 5.0      $ 5.0      $ 0.0   
  

 

 

    

 

 

    

 

 

  

 

     Total     Ending Balance
Individually Evaluated
for Impairment		     Ending Balance
Collectively Evaluated
for Impairment		  

Balance at June 30, 2011

    $ 2.6      $ 2.6      $ 0.0   

Charge-offs

      (3.1 )      (3.1 )      0.0   

Recoveries

      0.0        0.0        0.0   

Provision, primarily amounts recorded for Mexican customers’ notes receivable

      4.8        4.8        0.0   
  

 

 

    

 

 

    

 

 

  

Balance at June 30, 2012

    $ 4.3      $ 4.3      $ 0.0   
  

 

 

    

 

 

    

 

 

  
Summary of Receivables that had Modification of Financing Terms

The following summarizes the notes receivable that had modification of financing terms:

 

            Year Ended June 30, 2013  
     # of
Customers		      # of
Contracts		      Pre-
Modification
Investment		      Post-
Modification
Investment		  

Financing term modifications:

            

Domestic(a)

      1         1       $ 3.5       $ 3.5   

International(a)

      10         31         30.1         30.1   
  

 

 

     

 

 

     

 

 

     

 

 

  

Total financing term modifications

      11         32       $ 33.6       $ 33.6   
  

 

 

     

 

 

     

 

 

     

 

 

  

 

(a)

Detailed modifications included:

 

  Ø  

One domestic customer with one note for $3.5 million for which original terms were extended by 19 months;

 

  Ø  

One international customer for which 20 notes were consolidated into one note aggregating $9.0 million, with an average 13-month extension;

 

  Ø  

One international customer with one note for $8.3 million for which original terms were extended by two months;

 

  Ø  

One international customer with one note for $4.8 million for which original terms were extended by eight months;

 

  Ø  

One international customer for which two notes were consolidated into one note aggregating $2.1 million, with an average 10-month extension;

 

  Ø  

One international customer with one note for $1.5 million for which original terms were extended by 11 months;

 

  Ø  

One international customer with one note for $1.4 million for which original terms were extended by 17 months;

 

  Ø  

One international customer with one note for $1.1 million for which original terms were extended by 28 months;

 

  Ø  

One international customer with one note for $1.0 million for which original terms were extended by eight months;

 

  Ø  

One international customer for which two notes were consolidated into one note aggregating $0.6 million, with an average 12-month extension; and

 

  Ø  

One international customer with one note for $0.3 million for which original terms were extended by 13 months.

 

     Year Ended June 30, 2012  
     # of
Customers		      # of
Notes		      Pre-
Modification
Investment		      Post-
Modification
Investment		  

Financing term modifications:

            

Domestic

      1         2       $ 0.7       $ 0.7   

International(a)

      17         80         53.8         53.8   
  

 

 

     

 

 

     

 

 

     

 

 

  

Total financing term modifications

      18         82       $ 54.5       $ 54.5   
  

 

 

     

 

 

     

 

 

     

 

 

  

 

(a)

Detailed modifications included:

 

  Ø  

One international customer with one note for $14.8 million for which original terms were extended by five months;

 

  Ø  

One international customer in which 16 notes were consolidated into one note aggregating $8.8 million, with an average 12 month extension of terms;

 

  Ø  

One international customer in which 14 notes were consolidated into three notes aggregating $8.0 million, with an average 14 month extension of terms;

 

  Ø  

One international customer in which 11 notes were consolidated into one note aggregating $6.4 million, with an average 11 month extension of terms;

 

  Ø  

The remaining 13 international customers with 38 notes were consolidated into 13 notes aggregating $15.8 million, with an average of 12 month extension of terms; and

 

  Ø  

One domestic customer in which two notes were consolidated into one note aggregating for $0.7 million for which original terms were extended by 12 months.