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FINANCE RECEIVABLES (Tables)

3 Months Ended

Mar. 31, 2025

Receivables [Abstract]

Schedule of Finance Receivables, Net

Accounts receivable consisted of the following:

(in millions)	March 31, 2025		December 31, 2024
Contracts in transit	$593.0		$497.4
Trade receivables	159.8		166.5
Vehicle receivables	306.2		243.7
Manufacturer receivables	326.7		306.3
Other receivables, current	19.1		25.4
	1,404.8		1,239.3
Less: Allowance for doubtful accounts	(5.6)		(2.3)
Total accounts receivable, net	$1,399.2		$1,237.0

Finance Receivables, net

(in millions)	March 31, 2025		December 31, 2024
Asset-backed term funding	$2,868.0		$2,604.9
Warehouse facilities	956.4		1,052.0
Other managed receivables	328.7		314.2
Total finance receivables	4,153.1		3,971.1
Accrued interest and fees	21.9		20.5
Less: Allowance for credit losses	(127.5)		(123.4)
Finance receivables, net	$4,047.5		$3,868.2

Schedule of Finance Receivable by FICO Score

Finance Receivables by FICO Score

	As of March 31, 2025
	Year of Origination
($ in millions)	2025		2024		2023		2022		2021		Prior to 2021		Total
<599	$13.0		$48.8		$34.7		$19.2		$8.3		$1.0		$125.0
600-699	154.3		499.9		362.4		263.2		77.4		6.8		1,364.0
700-774	185.2		519.1		361.6		253.2		34.2		2.7		1,356.0
775+	201.5		474.9		288.2		156.3		7.9		1.0		1,129.8
Total auto loan receivables	$554.0		$1,542.7		$1,046.9		$691.9		$127.8		$11.5		3,974.8
Other finance receivables 1													178.3
Total finance receivables													$4,153.1

			As of December 31, 2024
			Year of Origination
($ in millions)	2024		2023		2022		2021		2020		Total
<599	$53.0		$39.7		$22.4		$9.9		$1.4		$126.4
600-699	534.1		406.2		298.8		90.2		8.3		1,337.6
700-774	560.2		402.5		284.9		39.5		3.2		1,290.3
775+	528.1		324.9		176.6		9.1		1.3		1,040.0
Total auto loan receivables	$1,675.4		$1,173.3		$782.7		$148.7		$14.2		3,794.3
Other finance receivables 1											176.8
Total finance receivables											$3,971.1

1Includes legacy portfolio, loans that are originated with no FICO score available, lease receivables, and deferred origination

fees.

Schedule of Financing Receivable, Noncurrent, Allowance for Credit Loss

The allowances for credit losses related to finance receivables

consisted of the following changes during the period:

	Three Months Ended March 31,
(in millions)	2025		2024
Allowance at beginning of period	$123.4		$106.4
Charge-offs	(43.1)		(34.1)
Recoveries	21.7		14.8
Sold loans	—		(0.3)
Provision expense	25.5		25.0
Allowance at end of period	$127.5		$111.8

Charge-off Activity by Year of Origination

	Three Months Ended March 31,
(in millions)	2025		2024
2025	$—		$—
2024	11.5		—
2023	15.9		13.4
2022	10.7		15.1
2021	3.1		4.9
2020 and prior	0.1		—
Other finance receivables 1	1.8		0.7
Total charge-offs	$43.1		$34.1

1Includes legacy portfolio, loans that are originated with no FICO score available, and finance lease receivables.

X

- Definition

Tabular disclosure of financing receivables by credit quality indicator. The credit quality indicator is a statistic about the credit quality of financing receivables. Examples include, but not limited to, consumer credit risk scores, credit-rating-agency ratings, an entity's internal credit risk grades, loan-to-value ratios, collateral, collection experience and other internal metrics.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef
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-Name Accounting Standards Codification
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Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition

Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables.

+ References

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-Topic 210
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-Name Accounting Standards Codification
-Section S99
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Tabular disclosure of allowance for credit loss of financing receivable, classified as noncurrent.

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-Name Accounting Standards Codification
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