Annual report pursuant to Section 13 and 15(d)

Notes Receivable (Tables)

v3.8.0.1
Notes Receivable (Tables)
12 Months Ended
Dec. 31, 2017
Notes Receivable [Abstract]  
Information Relating To Bluegreen's Notes Receivable







 

 

 

 

 

 



 

 

 

 

 

 



 

As of December 31,



 

2017

 

2016

Notes receivable secured by VOIs:

 

 

 

 

 

 

VOI notes receivable - non-securitized

 

$

184,971 

 

$

175,123 

VOI notes receivable - securitized

 

 

364,349 

 

 

369,259 



 

 

549,320 

 

 

544,382 

Allowance for credit losses - non-securitized

 

 

(36,965)

 

 

(33,173)

Allowance for credit losses - securitized

 

 

(81,750)

 

 

(82,247)

VOI notes receivable, net

 

$

430,605 

 

$

428,962 

Allowance as a % of VOI notes receivable

 

 

22% 

 

 

21% 



 

 

 

 

 

 

Notes receivable secured by homesites: (1)

 

 

 

 

 

 

Homesite notes receivable

 

 

1,329 

 

 

1,688 

Allowance for credit losses

 

 

(133)

 

 

(170)

Homesite notes receivable, net

 

$

1,196 

 

$

1,518 

Allowance as a % of homesite notes receivable

 

 

10% 

 

 

10% 

Total notes receivable:

 

 

 

 

 

 

Gross notes receivable

 

$

550,649 

 

$

546,070 

Allowance for credit losses

 

 

(118,848)

 

 

(115,590)

Notes receivable, net

 

$

431,801 

 

$

430,480 

Allowance as a % of gross notes receivable

 

 

22% 

 

 

21% 



(1)

Notes receivable secured by homesites were originated through a business, substantially all the assets of which were sold by us in 2012.    

Future Conctractual Principal Payments Of Notes Receivables



 

 

 



 

 

 

2018

 

$

62,360 

2019

 

 

56,879 

2020

 

 

59,500 

2021

 

 

63,061 

2022

 

 

66,246 

Thereafter

 

 

242,603 

          Total

 

$

550,649 



Activity In The Allowance For Loan Losses



 

 

 

 

 

 



 

 

 

 

 

 



 

For the Year Ended
December 31,



 

2017

 

2016

Balance, beginning of year

 

$

115,590 

 

$

110,714 

Provision for credit losses

 

 

46,149 

 

 

44,337 

Less: Write-offs of uncollectible receivables 

 

 

(42,891)

 

 

(39,461)

Balance, end of year

 

$

118,848 

 

$

115,590 



Delinquency Status Of VOI Notes Receivable



 

 

 

 

 

 



 

 

 

 

 

 



 

As of December 31,



 

2017

 

2016

Current

 

$

525,482 

 

$

521,536 

31-60 days

 

 

6,088 

 

 

6,378 

61-90 days

 

 

4,897 

 

 

5,082 

Over 91 days (1)

 

 

12,853 

 

 

11,386 

Total

 

$

549,320 

 

$

544,382 



(1)

Includes $7.6 million and $5.3 million as of December 31, 2017 and 2016, respectively, related to VOI notes receivable that, as of such date, had defaulted, but the related VOI note receivable balance had not yet been charged off in accordance with the provisions of certain of our receivable-backed notes payable transactions. These VOI notes receivable have been reflected in the allowance for credit losses.