Allowance for Doubtful Accounts (Tables)

3 Months Ended

Mar. 31, 2021

Receivables [Abstract]

Notes Receivable Disaggregated by Vintage Year

The following table presents the Company’s two tiers of notes receivable further disaggregated by year of origination, as well as write-off activity for the current three month period ended March 31, 2021.

			Notes Receivable
			Amortized Cost Basis by Origination Year
	2021		2020		2019		2018		2017		Prior		Total
	(in thousands)
Notes Receivable
Standard notes receivable	$	485	$	11,466	$	8,966	$	19,117	$	22,153	$	1,562	$	63,749
Elevated risk notes receivable	$	—	$	—	$	617	$	—	$	723	$	1,374	$	2,714
Current-period gross write-offs	$	—	$	—	$	—	$	315	$	2,494	$	—	$	2,809
Current-period recoveries	—		—		—		—		—		—		—
Current-period net write-offs	$	—	$	—	$	—	$	315	$	2,494	$	—	$	2,809

Age Analysis of Past-Due Note Receivable

The following table provides information as to the status of payment on the Company’s notes receivable which were past due as of March 31, 2021:

	Age Analysis of Past-Due Notes Receivable as of March 31, 2021
	0-90 Days		91 - 180 Days		Greater than 181 Days		Total
	(in thousands)
Notes Receivable
Standard notes receivable	$	966	$	620	$	4,115	$	5,701
Elevated risk notes receivable	—		—		2,714		2,714
	$	966	$	620	$	6,829	$	8,415

Schedule of Cumulative Effect of Initially Applying New Guidance

The following tables provide 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, 2021 and 2020:

	Allowance for doubtful accounts
Portfolio Segment:	December 31 2020		Write-Offs1		Bad Debt Expense		March 31 2021
	(in thousands)
Accounts receivable	$	51,052	$	(7,305)	$	2,779	$	46,526
Notes Receivables
Standard notes receivable	$	13,258	$	(9)	$	(256)	$	12,993
Elevated risk notes receivable	3,491		(2,800)		892		1,583
	$	16,749	$	(2,809)	$	636	$	14,576
Total accounts and notes receivable	$	67,801	$	(10,114)	$	3,415	$	61,102

1.Write-offs are shown net of recoveries. During the three months ended March 31, 2021, the amount of such recoveries was not material.

	Allowance for doubtful accounts
Portfolio Segment:	December 31, 2019		Cumulative effect of ASC 326 adoption1		Write-Offs2		Bad Debt Expense		March 31, 2020
	(in thousands)
Accounts receivable	$	39,903	$	36,709	$	(4,409)	$	2,186	$	74,389
Notes 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 the pre-tax one-time adjustment to the Company’s 2020 opening retained earnings balance in accordance with the adoption of the CECL accounting guidance.

2.Write-offs are shown net of recoveries. During the three months ended March 31, 2020, the amount of such recoveries was not material.

Accounts Receivable, Allowance for Doubtful Accounts

The following tables provide 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, 2021 and 2020:

	Allowance for doubtful accounts
Portfolio Segment:	December 31 2020		Write-Offs1		Bad Debt Expense		March 31 2021
	(in thousands)
Accounts receivable	$	51,052	$	(7,305)	$	2,779	$	46,526
Notes Receivables
Standard notes receivable	$	13,258	$	(9)	$	(256)	$	12,993
Elevated risk notes receivable	3,491		(2,800)		892		1,583
	$	16,749	$	(2,809)	$	636	$	14,576
Total accounts and notes receivable	$	67,801	$	(10,114)	$	3,415	$	61,102

1.Write-offs are shown net of recoveries. During the three months ended March 31, 2021, the amount of such recoveries was not material.

	Allowance for doubtful accounts
Portfolio Segment:	December 31, 2019		Cumulative effect of ASC 326 adoption1		Write-Offs2		Bad Debt Expense		March 31, 2020
	(in thousands)
Accounts receivable	$	39,903	$	36,709	$	(4,409)	$	2,186	$	74,389
Notes 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 the pre-tax one-time adjustment to the Company’s 2020 opening retained earnings balance in accordance with the adoption of the CECL accounting guidance.

2.Write-offs are shown net of recoveries. During the three months ended March 31, 2020, the amount of such recoveries was not material.

Allowance for Doubtful Accounts

The following tables provide 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, 2021 and 2020:

	Allowance for doubtful accounts
Portfolio Segment:	December 31 2020		Write-Offs1		Bad Debt Expense		March 31 2021
	(in thousands)
Accounts receivable	$	51,052	$	(7,305)	$	2,779	$	46,526
Notes Receivables
Standard notes receivable	$	13,258	$	(9)	$	(256)	$	12,993
Elevated risk notes receivable	3,491		(2,800)		892		1,583
	$	16,749	$	(2,809)	$	636	$	14,576
Total accounts and notes receivable	$	67,801	$	(10,114)	$	3,415	$	61,102

1.Write-offs are shown net of recoveries. During the three months ended March 31, 2021, the amount of such recoveries was not material.

	Allowance for doubtful accounts
Portfolio Segment:	December 31, 2019		Cumulative effect of ASC 326 adoption1		Write-Offs2		Bad Debt Expense		March 31, 2020
	(in thousands)
Accounts receivable	$	39,903	$	36,709	$	(4,409)	$	2,186	$	74,389
Notes 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 the pre-tax one-time adjustment to the Company’s 2020 opening retained earnings balance in accordance with the adoption of the CECL accounting guidance.

2.Write-offs are shown net of recoveries. During the three months ended March 31, 2020, the amount of such recoveries was not material.