Financing Receivables and Operating Leases
 12 Months Ended
Jun. 30, 2017
Leases [Abstract]  
Financing Receivables and Operating Leases
Financing Receivables and Operating Leases

The Company records the lease receivables related to discounted sales-type or direct financing leases as financing receivables, and the related liability resulting from discounting customer payment streams as discounted financing receivables, in the Company’s consolidated balance sheets. Discounted customer payment streams are typically collateralized by a security interest in the underlying assets being leased. At June 30, 2017 and 2016, the interest rates on discounted leases ranged from 2.0% to 10.5% and 2.0% to 9.8%, respectively.



























Financing receivables – The assets and related liabilities for discounted and not discounted sales-type and direct financing leases to financial institutions were as follows (in millions):

June 30, 2016 - Successor
 
Discounted to financial institutions
 
Not discounted to financial institutions
 
Total
Minimum lease payments
 
$
168.5

 
$
18.4

 
$
186.9

Estimated net residual values
 
—

 
7.9

 
7.9

Unearned income
 
(7.4
)
 
(1.6
)
 
(9.0
)
Provision for credit losses
 
—

 
(0.7
)
 
(0.7
)
Total, net
 
$
161.1

 
$
24.0

 
$
185.1

 
 
 
 
 
 
 
Reported as:
 
 
 
 
 
 
Current
 
$
74.4

 
$
8.7

 
$
83.1

Long-term
 
86.7

 
15.3

 
102.0

Total, net
 
$
161.1

 
$
24.0

 
$
185.1

 
 
 
 
 
 
 
Discounted financing receivables:
 
 
 
 
 
 
Nonrecourse
 
$
159.2

 
$
—

 
$
159.2

Recourse
 
1.0

 
—

 
1.0

Total
 
$
160.2

 
$
—

 
$
160.2

 
 
 
 
 
 
 
Reported as:
 
 
 
 
 
 
Current
 
$
73.9

 
$
—

 
$
73.9

Long-term
 
86.3

 
—

 
86.3

Total
 
$
160.2

 
$
—

 
$
160.2

 
 
 
 
 
 
 
June 30, 2017 - Successor
 
 
 
 
 
 
Minimum lease payments
 
$
197.2

 
$
4.2

 
$
201.4

Estimated net residual values
 
—

 
7.2

 
7.2

Unearned income
 
(9.4
)
 
(0.8
)
 
(10.2
)
Provision for credit losses
 
—

 
(0.6
)
 
(0.6
)
Total, net
 
$
187.8

 
$
10.0

 
$
197.8

 
 
 
 
 
 
 
Reported as:
 
 
 
 
 
 
Current
 
$
80.8

 
$
3.4

 
$
84.2

Long-term
 
107.0

 
6.6

 
113.6

Total, net
 
$
187.8

 
$
10.0

 
$
197.8

 
 
 
 
 
 
 
Discounted financing receivables:
 
 
 
 
 
 
Nonrecourse
 
$
183.7

 
$
—

 
$
183.7

Recourse
 
—

 
—

 
—

Total
 
$
183.7

 
$
—

 
$
183.7

 
 
 
 
 
 
 
Reported as:
 
 
 
 
 
 
Current
 
$
79.3

 
$
—

 
$
79.3

Long-term
 
104.4

 
—

 
104.4

Total
 
$
183.7

 
$
—

 
$
183.7



The discounted financing receivables associated with sales-type and direct financing type leases are presented in the consolidated balance sheets together with the discounted financing receivables associated with operating leases, which is discussed below.

Minimum lease payments for discounted and non-discounted sales-type and direct financing leases were as follows (in millions):
Years ending June 30,
 
Discounted to financial institutions
 
Not discounted to financial institutions
 
Total
2018
 
$
85.8

 
$
1.5

 
$
87.3

2019
 
61.6

 
1.2

 
62.8

2020
 
30.9

 
0.7

 
31.6

2021
 
14.8

 
0.6

 
15.4

2022
 
4.1

 
0.2

 
4.3

2023 and thereafter
 
—

 
—

 
—

Total
 
$
197.2

 
$
4.2

 
$
201.4



Operating leases – Equipment under operating leases and accumulated depreciation presented within other assets in the consolidated balance sheets was as follows (in millions):

 
 
Successor
 
 
June 30, 2016
 
June 30, 2017
Equipment under operating leases
 
$
5.6

 
$
4.6

Accumulated depreciation
 
(2.7
)
 
(2.9
)
Total equipment under operating leases, net
 
$
2.9

 
$
1.7



Depreciation and amortization expense associated with equipment under operating leases that is included in cost of product revenue within the Company’s consolidated statements of operations was $1.7 million for the fiscal year ended June 30, 2017, $2.5 million for the fiscal year ended June 30, 2016, $1.2 million for the Successor period ended June 30, 2015 and $2.0 million for the Predecessor period ended February 1, 2015.
    
The minimum lease payments related to operating leases discounted or non-discounted were as follows (in millions):
Years ending June 30,
 
Discounted to financial institutions
 
Not discounted to financial institutions
 
Total
2018
 
$
0.7

 
$
—

 
$
0.7

2019
 
0.2

 
—

 
0.2

2020
 
—

 
—

 
—

2021
 
—

 
—

 
—

2022
 
—

 
—

 
—

2023 and thereafter
 
—

 
—

 
—

Total
 
$
0.9

 
$
—

 
$
0.9




Liabilities for discounted operating leases was follows (in millions):
 
 
Successor
 
 
June 30, 2016
 
June 30, 2017
Discounted operating leases:
 
 
 
 
Current
 
$
1.4

 
$
0.7

Noncurrent
 
0.8

 
0.2

Total
 
$
2.2

 
$
0.9