Quarterly report pursuant to Section 13 or 15(d)

Receivables (Tables)

v2.4.0.8
Receivables (Tables)
 6 Months Ended
Dec. 31, 2013
Receivables [Abstract]  
Schedule of receivables and secured loans
Receivables and secured loans consist of the following as of December 31, 2013 and June 30, 2013:
in thousands
December 31, 2013
 
June 30, 2013
 
 
 
 
Customer trade receivables
$
30,185

 
$
38,405

Wholesale trade advances
12,327

 
20,623

Due from brokers
8,909

 
—

Subtotal
51,421

 
59,028

Secured loans
31,935

 
35,585

Subtotal
83,356

 
94,613

Less: allowance for doubtful accounts
(30
)
 
(104
)
Subtotal
83,326

 
94,509

Derivative assets — open sales and purchase commitments, net
3,293

 
—

Derivative assets — forward contracts
4,933

 
471

Derivative assets — futures contracts
10,921

 
14,967

Receivables, net
$
102,473

 
$
109,947

Schedule of classes for financing receivables
The Company further evaluated its portfolio segments by the class of finance receivables, which is defined as a level of information in which the finance receivables have the same initial measurement attribute and a similar method for assessing and monitoring credit risk. As a result, the Company determined that the secured commercial loans portfolio segment has two classes of receivables, those secured by bullion and those secured by collectibles.
The Company's classes, which align with management reporting, are as follows:
in thousands
December 31, 2013
 
June 30, 2013
 
 
 
 
 
 
 
 
Bullion
$
19,403

 
60.8
%
 
$
21,993

 
61.8
%
Collectibles
12,532

 
39.2

 
13,592

 
38.2

 Total secured loans
$
31,935

 
100.0
%
 
$
35,585

 
100.0
%
Financing receivable credit quality indicators
The Company disaggregates its secured loans as follows:
in thousands
December 31, 2013
 
June 30, 2013
 
 
 
 
 
 
 
 
Loan-to-value of 75% or more
$
12,493

 
39.1
%
 
$
3,764

 
10.6
%
Loan-to-value of less than 75%
19,442

 
60.9

 
31,821

 
89.4

Total secured loans
$
31,935

 
100.0
%
 
$
35,585

 
100.0
%
Schedule of activity in allowance for doubtful accounts
Activity in the allowance for doubtful accounts for the six months ended December 31, 2013 and year ended June 30, 2013 is as follows:
in thousands
Period ended:
Beginning Balance

Provision

Charge-off

Ending Balance

December 31, 2013
$
104

$
—

$
(74
)
$
30

June 30, 2013
$
1,118

$
(700
)
$
(314
)
$
104