Annual report pursuant to Section 13 and 15(d)

Financing Receivables (Tables)

v2.4.1.9
Financing Receivables (Tables)
 12 Months Ended
Dec. 31, 2014
Receivables [Abstract]  
Financing receivables, excluding trade accounts receivable contractually due within one year, by segment
The following are the Company’s financing receivables, excluding trade accounts receivable contractually due within one year, by segment as of December 31, 2014:
(in millions)
Marine
 Engine
 
Boat
 
Fitness
 
Corporate (A)
 
Total
Recourse Receivables:
 
 
 
 
 
 
 
 
 
Short-term
$
—

 
$
—

 
$
0.3

 
$
2.7

 
$
3.0

Long-term
—

 
—

 
0.2

 
0.8

 
1.0

Allowance for credit loss
—

 
—

 
(0.3
)
 
(2.9
)
 
(3.2
)
Total
—

 
—

 
0.2

 
0.6

 
0.8

 
 
 
 
 
 
 
 
 
 
Third-Party Receivables:
 

 
 

 
 

 
 

 
 

Short-term
2.6

 
4.5

 
16.6

 
—

 
23.7

Long-term
—

 
—

 
19.6

 
—

 
19.6

Allowance for credit loss
—

 
—

 
—

 
—

 
—

Total
2.6

 
4.5

 
36.2

 
—

 
43.3

 
 
 
 
 
 
 
 
 
 
Other Receivables:
 

 
 

 
 

 
 

 
 

Short-term
7.1

 
0.2

 
0.6

 
4.0

 
11.9

Long-term
0.6

 
0.1

 
0.3

 
1.3

 
2.3

Allowance for credit loss
—

 
(0.2
)
 
—

 
—

 
(0.2
)
Total
7.7

 
0.1

 
0.9

 
5.3

 
14.0

 
 
 
 
 
 
 
 
 
 
Total Financing Receivables
$
10.3

 
$
4.6

 
$
37.3

 
$
5.9

 
$
58.1


(A) Total recourse receivables of $0.6 million represent amounts previously reported in the former Bowling & Billiards segment that have been retained by Corporate as a result of the sale of the retail bowling business as discussed in Note 2 – Discontinued Operations. Other short-term receivables of $4.0 million represent a note receivable as partial consideration for the sale of the retail bowling business as discussed in Note 2 – Discontinued Operations.
The following are the Company’s financing receivables, excluding trade accounts receivable contractually due within one year, by segment as of December 31, 2013:
(in millions)
Marine
Engine
 
Boat
 
Fitness
 
Corporate
 
Total
Recourse Receivables:
 
 
 
 
 
 
 
 
 
Short-term
$
—

 
$
—

 
$
0.7

 
$
—

 
$
0.7

Long-term
—

 
—

 
0.2

 
—

 
0.2

Allowance for credit loss
—

 
—

 
(0.4
)
 
—

 
(0.4
)
Total
—

 
—

 
0.5

 
—

 
0.5

 
 
 
 
 
 
 
 
 
 
Third-Party Receivables:
 

 
 

 
 

 
 

 
 

Short-term
12.0

 
3.1

 
21.1

 
—

 
36.2

Long-term
—

 
—

 
18.9

 
—

 
18.9

Allowance for credit loss
—

 
—

 
—

 
—

 
—

Total
12.0

 
3.1

 
40.0

 
—

 
55.1

 
 
 
 
 
 
 
 
 
 
Other Receivables:
 

 
 

 
 

 
 

 
 

Short-term
10.2

 
0.3

 
0.6

 
0.2

 
11.3

Long-term
0.9

 
0.2

 
0.1

 
—

 
1.2

Allowance for credit loss
—

 
(0.3
)
 
—

 
—

 
(0.3
)
Total
11.1

 
0.2

 
0.7

 
0.2

 
12.2

 
 
 
 
 
 
 
 
 
 
Total Financing Receivables
$
23.1

 
$
3.3

 
$
41.2

 
$
0.2

 
$
67.8

Activity related to allowance for credit loss on financing receivables during the period
The following table sets forth activity related to the allowance for credit loss on financing receivables during the year ended December 31, 2014:
(in millions)
Boat
 
Fitness
 
Corporate (A)
 
Total
Recourse Receivables:
 
 
 
 
 
 
 
Beginning balance
$
—

 
$
0.4

 
$
2.9

 
$
3.3

Current period provision
—

 
—

 
—

 
—

Direct write-downs
—

 
(0.1
)
 
—

 
(0.1
)
Recoveries
—

 
—

 
—

 
—

Ending balance
$
—

 
$
0.3

 
$
2.9

 
$
3.2

 
 
 
 
 
 
 
 
Other Receivables:
 

 
 

 
 

 
 

Beginning balance
$
0.3

 
$
—

 
$
—

 
$
0.3

Current period provision
(0.1
)
 
—

 
—

 
(0.1
)
Direct write-downs
—

 
—

 
—

 
—

Recoveries
—

 
—

 
—

 
—

Ending balance
$
0.2

 
$
—

 
$
—

 
$
0.2


(A) The allowance for doubtful accounts related to recourse receivables represents the amount previously reported in the former Bowling & Billiards segment that has been retained by Corporate as a result of the sale of the retail bowling business as discussed in Note 2 – Discontinued Operations.

The following table sets forth activity related to the allowance for credit loss on financing receivables during the year ended December 31, 2013:
(in millions)
Boat
 
Fitness
 
Total
Recourse Receivables:
 
 
 
 
 
Beginning balance
$
—

 
$
0.9

 
$
0.9

Current period provision
—

 
0.3

 
0.3

Direct write-downs
—

 
(0.4
)
 
(0.4
)
Recoveries
—

 
(0.4
)
 
(0.4
)
Ending balance
$
—

 
$
0.4

 
$
0.4

 
 
 
 
 
 
Other Receivables:
 

 
 

 
 

Beginning balance
$
2.8

 
$
0.2

 
$
3.0

Current period provision
(0.2
)
 
—

 
(0.2
)
Direct write-downs
(2.3
)
 
(0.2
)
 
(2.5
)
Recoveries
—

 
—

 
—

Ending balance
$
0.3

 
$
—

 
$
0.3