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DEBT | 3 Months Ended
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Mar. 31, 2025
Debt Disclosure [Abstract] |
DEBT | DEBT Non-Recourse Notes Payable In 2025, we issued $564.0 million in non-recourse notes payable related to asset-backed term funding transactions. Below is a summary of outstanding non-recourse notes payable issued:
($ in millions) | Balance as of March 31, 2025 | Initial Principal Amount | Issuance Date | Interest Rate Range | Final Distribution Date
LAD Auto Receivables Trust 2021-1 Class A-D | $34.1 | $344.4 | 11/24/21 | 2.35% to 3.99% | Various dates through Nov 2029
LAD Auto Receivables Trust 2022-1 Class A-C | 65.9 | 298.1 | 08/17/22 | 5.21% to 6.85% | Various dates through Apr 2030
LAD Auto Receivables Trust 2023-1 Class A-D | 148.3 | 479.7 | 02/14/23 | 5.48% to 7.30% | Various dates through Jun 2030
LAD Auto Receivables Trust 2023-2 Class A-D | 210.3 | 556.7 | 05/24/23 | 5.42% to 6.30% | Various dates through Feb 2031
LAD Auto Receivables Trust 2023-3 Class A-D | 190.8 | 415.4 | 08/23/23 | 5.95% to 6.92% | Various dates through Dec 2030
LAD Auto Receivables Trust 2023-4 Class A-D | 215.9 | 421.2 | 11/15/23 | 6.10% to 7.37% | Various dates through Apr 2031
LAD Auto Receivables Trust 2024-1 Class A-D | 193.6 | 329.4 | 02/14/24 | 5.17% to 6.15% | Various dates through Jun 2031
LAD Auto Receivables Trust 2024-2 Class A-D | 285.7 | $409.6 | 06/20/24 | 5.46% to 6.37% | Various dates through Oct 2031
LAD Auto Receivables Trust 2024-3 Class A-D | 494.8 | $614.9 | 11/15/24 | 4.52% to 5.18% | Various dates through Feb 2032
LAD Auto Receivables Trust 2025-1 Class A-D | $524.3 | $564.0 | 02/12/25 | 4.51% to 5.52% | Various dates through May 2032
Total non-recourse notes payable | $2,363.7 | $4,433.4 |  |  |

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481544/470-10-50-6 Reference 2: 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