Description of Business and Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2020

Accounting Policies [Abstract]

Schedule of Cumulative Effect of Initially Applying New Guidance

The cumulative effect of initially applying the new ASC 326 guidance to the consolidated financial statements on January 1, 2020 was as follows:

Consolidated Statement of Financial Position	December 31, 2019		Cumulative Impact from Adopting ASC 326 Guidance		January 1, 2020
	(in thousands)
Assets
Short-term accounts and notes receivable, less allowance for doubtful accounts	$	340,930	$	(41,100)	$	299,830
Notes receivable – long–term portion, less allowance for doubtful accounts	$	46,992	$	(1,136)	$	45,856
Allowance for doubtful accounts on short-term accounts and notes receivables	$	(45,726)	$	(41,100)	$	(86,826)
Allowance for doubtful accounts on long-term notes receivables	$	(6,667)	$	(1,136)	$	(7,803)
Deferred income taxes	$	20,364	$	10,137	$	30,501
Stockholders’ equity
Retained earnings	$	195,455	$	(32,099)	$	163,356

The following table provides a summary of the changes in the Company’s allowance for doubtful accounts on a portfolio segment basis for the three months ended March 31, 2020:

	Allowance for doubtful accounts
Portfolio Segment	December 31, 2019		Cumulative effect of ASC 326 adoption1		Write-Offs		Bad Debt Expense		March 31, 2020
	(in thousands)
Accounts receivable	$	39,903	$	36,709	$	(4,409)	$	2,186	$	74,389
Note receivable
Standard notes receivable	$	6,667	$	5,236	$	—	$	(249)	$	11,654
Elevated risk notes receivable	5,823		291		—		123		6,237
Total notes receivable	$	12,490	$	5,527	$	—	$	(126)	$	17,891
Total accounts and notes receivable	$	52,393	$	42,236	$	(4,409)	$	2,060	$	92,280

1.Represents a one-time adjustment to the Company’s 2020 opening retained earnings balance in accordance with the adoption of the accounting guidance.