XML 48 R29.htm IDEA: XBRL DOCUMENT
v3.26.1

FINANCE RECEIVABLES (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2026
Receivables [Abstract] |
Schedule of Finance Receivables, Net | Accounts receivable consisted of the following:
(In millions) | June 30, 2026 |  | December 31, 2025
Contracts in transit | $429.4 |  | $468.6
Vehicle receivables | 209.3 |  | 177.6
Manufacturer receivables | 315.5 |  | 327.9
Trade receivables | 148.4 |  | 148.6
Other receivables, current | 28.0 |  | 18.3
| 1,130.6 |  | 1,141.0
Less: Allowance for doubtful accounts | (5.7) |  | (6.9)
Total accounts receivable, net | $1,124.9 |  | $1,134.1
Finance Receivables, net
(In millions) | June 30, 2026 |  | December 31, 2025
Asset-backed term funding | $3,231.3 |  | $2,954.6
Warehouse facilities | 1,786.3 |  | 1,514.8
Other managed receivables | 389.9 |  | 403.4
Total finance receivables | 5,407.5 |  | 4,872.8
Accrued interest and fees | 27.5 |  | 26.0
Less: Allowance for credit losses | (153.4) |  | (143.7)
Finance receivables, net | $5,281.6 |  | $4,755.1
Schedule of Finance Receivable by FICO Score | Finance Receivables by FICO Score
| As of June 30, 2026
| Year of Origination
($ in millions) | 2026 |  | 2025 |  | 2024 |  | 2023 |  | 2022 |  | Prior to 2022 |  | Total
<599 | $20.4 |  | $34.2 |  | $26.8 |  | $16.7 |  | $8.4 |  | $3.2 |  | $109.7
600-699 | 414.5 |  | 529.2 |  | 294.4 |  | 191.0 |  | 125.2 |  | 30.6 |  | 1,584.9
700-774 | 510.9 |  | 652.7 |  | 302.3 |  | 195.8 |  | 122.4 |  | 14.0 |  | 1,798.1
775+ | 551.9 |  | 646.7 |  | 265.6 |  | 146.4 |  | 73.0 |  | 3.4 |  | 1,687.0
Total auto loan receivables | $1,497.7 |  | $1,862.8 |  | $889.1 |  | $549.9 |  | $329.0 |  | $51.2 |  | 5,179.7
Other finance receivables 1 |  |  |  |  |  |  |  |  |  |  |  |  | 227.8
Total finance receivables |  |  |  |  |  |  |  |  |  |  |  |  | $5,407.5
|  |  | As of December 31, 2025
|  |  | Year of Origination
($ in millions) | 2025 |  | 2024 |  | 2023 |  | 2022 |  | 2021 |  | Prior to 2021 |  | Total
<599 | $42.0 |  | $34.4 |  | $22.7 |  | $12.0 |  | $4.7 |  | $0.5 |  | $116.3
600-699 | 629.9 |  | 369.1 |  | 250.9 |  | 173.0 |  | 45.2 |  | 3.3 |  | 1,471.4
700-774 | 784.1 |  | 382.1 |  | 254.7 |  | 168.4 |  | 20.4 |  | 1.3 |  | 1,611.0
775+ | 810.5 |  | 338.5 |  | 197.3 |  | 102.0 |  | 4.8 |  | 0.4 |  | 1,453.5
Total auto loan receivables | $2,266.5 |  | $1,124.1 |  | $725.6 |  | $455.4 |  | $75.1 |  | $5.5 |  | 4,652.2
Other finance receivables 1 |  |  |  |  |  |  |  |  |  |  |  |  | 220.6
Total finance receivables |  |  |  |  |  |  |  |  |  |  |  |  | $4,872.8
1 Includes 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:
| Six Months Ended June 30, |  | 2026 vs. 2025
(In millions) | 2026 |  | 2025 |  | $ Change |  | % Change
Allowance for credit losses at beginning of period | $143.7 |  | $123.4 |  | $20.3 |  | 16.5%
Charge-offs | (74.4) |  | (79.2) |  | 4.8 |  | (6.1)
Recoveries | 41.5 |  | 44.6 |  | (3.1) |  | (7.0)
Net charge-offs | (32.9) |  | (34.6) |  | 1.7 |  | (4.9)%
Change in provision due to portfolio size | 9.3 |  | 12.1 |  | (2.8) |  | (23.1)
Change in provision due to net charge-offs | 32.9 |  | 34.6 |  | (1.7) |  | (4.9)
Currency translation | 0.4 |  | (0.4) |  | 0.8 |  | (200.0)
Allowance for credit losses at end of period | $153.4 |  | $135.1 |  | $18.3 |  | 13.5%
Charge-off Activity by Year of Origination
| Six Months Ended June 30,
(In millions) | 2026 |  | 2025
2026 | $0.9 |  | $—
2025 | 22.3 |  | 0.7
2024 | 21.2 |  | 24.1
2023 | 15.5 |  | 26.7
2022 | 10.3 |  | 19.1
2021 and prior | 2.1 |  | 5.6
Other finance receivables 1 | 2.1 |  | 3.0
Total charge-offs | $74.4 |  | $79.2
1 Includes 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://www.xbrl.org/2009/role/commonPracticeRef -Topic 326 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479319/326-20-50-5 + Details
Name: | us-gaap_FinancingReceivableCreditQualityIndicatorsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_ReceivablesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481962/310-10-50-3 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481990/310-10-45-2 + Details
Name: | us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of allowance for credit loss of financing receivable, classified as noncurrent. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 326 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479319/326-20-50-13 + Details
Name: | us-gaap_ScheduleOfCreditLossesRelatedToFinancingReceivablesNoncurrentTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration