Quarterly report pursuant to Section 13 or 15(d)

Receivables (Tables)

v2.4.0.8
Receivables (Tables)
 9 Months Ended
Mar. 31, 2014
Receivables [Abstract]  
Schedule of receivables and secured loans
Receivables and secured loans consist of the following as of March 31, 2014 and June 30, 2013:
in thousands
March 31, 2014
 
June 30, 2013
 
 
 
 
Customer trade receivables
$
12,361

 
$
38,405

Wholesale trade advances
9,931

 
20,623

Due from brokers
9,665

 
—

Subtotal
31,957

 
59,028

Secured loans
31,861

 
35,585

Subtotal
63,818

 
94,613

Less: allowance for doubtful accounts
(30
)
 
(104
)
Subtotal
63,788

 
94,509

Derivative assets — open sales and purchase commitments, net
2,245

 
—

Derivative assets — futures contracts
5,741

 
14,967

Derivative assets — forward contracts
9,813

 
471

Receivables, net
$
81,587

 
$
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
March 31, 2014
 
June 30, 2013
 
 
 
 
 
 
 
 
Bullion
$
13,211

 
41.5
%
 
$
21,993

 
61.8
%
Collectibles
18,650

 
58.5

 
13,592

 
38.2

 Total secured loans
$
31,861

 
100.0
%
 
$
35,585

 
100.0
%
Financing receivable credit quality indicators
The Company disaggregates its secured loans as follows:
in thousands
March 31, 2014
 
June 30, 2013
 
 
 
 
 
 
 
 
Loan-to-value of 75% or more
$
19,375

 
60.8
%
 
$
3,764

 
10.6
%
Loan-to-value of less than 75%
12,486

 
39.2

 
31,821

 
89.4

Total secured loans
$
31,861

 
100.0
%
 
$
35,585

 
100.0
%
Schedule of activity in allowance for doubtful accounts
Allowance for Doubtful Accounts
Allowances for doubtful accounts are recorded based on specifically identified receivables, which the Company has identified as potentially uncollectible. Activity in the allowance for doubtful accounts for the nine months ended March 31, 2014 and year ended June 30, 2013 is as follows:
in thousands
Period ended:
 
Beginning Balance
 
Provision
 
Charge-off
 
Ending Balance
March 31, 2014
 
$
104

 
$
—

 
$
(74
)
 
$
30

June 30, 2013
 
$
1,118

 
$
(700
)
 
$
(314
)
 
$
104