Before posting, I tried to find an answer to this in CLH, PNC or CCP threads, but with no luck. So here goes:
I have been looking at the accounting treatment of the three above-mentioned companies and am unclear on what defines a PDL as a Current or Non-Current asset.
Looking at PNC's books most recently, I noticed that they list ~$29m of PDLs in Current Assets, yet only $13m (from memory) of principle was removed from the PDL asset line item. Does this mean they collected 44.8% (13/29) of the principle from these PDLs, or that 44.8% were collected in total?
I look at CCPs books and can't make that distinction either...
Common sense tells me that I should expect PDLs in the Current Account to be partially collected and carry over, but I'm not sure what accounting rules dictate. Any assistance would be greatly appreciated.
CCP Price at posting:
$9.98 Sentiment: None Disclosure: Not Held
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