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FINANCE RECEIVABLES (Tables)
 9 Months Ended
Sep. 30, 2025
Receivables [Abstract]  
Schedule of Finance Receivables, Net Accounts receivable consisted of the following:
(In millions)
September 30, 2025
December 31, 2024
Contracts in transit
$437.2
$497.4
Trade receivables
166.2
166.5
Vehicle receivables
258.7
243.7
Manufacturer receivables
338.0
306.3
Other receivables, current
19.4
25.4
 
1,219.5
1,239.3
Less: Allowance for doubtful accounts
(6.7)
(2.3)
Total accounts receivable, net
$1,212.8
$1,237.0
Finance Receivables, net
(In millions)
September 30, 2025
December 31, 2024
Asset-backed term funding
$2,757.3
$2,604.9
Warehouse facilities
1,514.8
1,052.0
Other managed receivables
389.5
314.2
Total finance receivables
4,661.6
3,971.1
Accrued interest and fees
23.1
20.5
Less: Allowance for credit losses
(139.8)
(123.4)
Finance receivables, net
$4,544.9
$3,868.2
Schedule of Finance Receivable by FICO Score Finance Receivables by FICO Score
As of September 30, 2025
Year of Origination
($ in millions)
2025
2024
2023
2022
2021
Prior to 2021
Total
<599
$35.9
$39.2
$26.2
$14.1
$5.8
$0.6
$121.8
600-699
490.1
410.0
284.2
200.5
54.7
4.3
1,443.8
700-774
612.7
423.3
287.2
194.3
24.6
1.7
1,543.8
775+
614.8
379.4
224.8
118.4
5.7
0.5
1,343.6
Total auto loan receivables
$1,753.5
$1,251.9
$822.4
$527.3
$90.8
$7.1
4,453.0
Other finance receivables 1
208.6
Total finance receivables
$4,661.6
As of December 31, 2024
Year of Origination
($ 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 allowance for credit losses on finance receivables consisted of the
following changes during the period:
Nine Months Ended September 30,
(In millions)
2025
2024
Allowance at beginning of period
$123.4
$106.4
Charge-offs
(120.1)
(106.8)
Recoveries
64.5
44.2
Sold loans
—
(0.3)
Provision expense
72.5
77.0
Currency translation
(0.5)
—
Allowance at end of period
$139.8
$120.5
Charge-off Activity by Year of Origination
Nine Months Ended September 30,
(In millions)
2025
2024
2025
$6.0
$—
2024
37.1
5.3
2023
38.3
45.4
2022
26.7
39.5
2021
7.6
13.6
2020 and prior
0.4
1.2
Other finance receivables 1
4.0
1.8
Total charge-offs
$120.1
$106.8
1Includes legacy portfolio, loans that are originated with no FICO score available, and finance lease receivables.