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Auto Loan Receivables (Tables)

6 Months Ended

Aug. 31, 2014

Auto Loan Receivables [Abstract]

Auto Loan Receivables, Net

	As of August 31			As of February 28
(In millions)		2014			2014
Warehouse facilities	$	1,045.0		$	879.0
Term securitizations		6,603.3			6,145.5
Other receivables (1)		242.7			159.9
Total ending managed receivables		7,891.0			7,184.4
Accrued interest and fees		31.8			26.3
Other		(0.7)			7.0
Less allowance for loan losses		(77.8)			(69.9)
Auto loan receivables, net	$	7,844.3		$	7,147.8

(1) Other receivables includes receivables not funded through the warehouse facilities or term securitizations.

Ending Managed Receivables By Major Credit Grade

			As of August 31				As of February 28
(In millions)			2014 (1)		%  (2)			2014 (1)		%  (2)
A		$	3,867.3		49.0		$	3,506.0		48.8
B			2,884.9		36.6			2,658.5		37.0
C and other			1,138.8		14.4			1,019.9		14.2
Total ending managed receivables		$	7,891.0		100.0		$	7,184.4		100.0

(1) Classified based on credit grade assigned when customers were initially approved for financing.

(2) Percentage of total ending managed receivables.

Allowance For Loan Losses

		Three Months Ended August 31										Six Months Ended August 31
(In millions)			2014		%  (1)			2013		%  (1)			2014		%  (1)			2013		%  (1)
Balance as of beginning of period		$	75.4		1.00		$	60.9		0.96		$	69.9		0.97		$	57.3		0.97
Charge-offs			(36.9)					(31.8)					(68.9)					(58.2)
Recoveries			18.9					18.8					40.6					37.5
Provision for loan losses			20.4					18.0					36.2					29.3
Balance as of end of period		$	77.8		0.99		$	65.9		0.99		$	77.8		0.99		$	65.9		0.99

(1) Percentage of total ending managed receivables as of the corresponding reporting date.

Past Due Receivables

			As of August 31				As of February 28
(In millions)			2014		%  (1)		2014			%  (1)
Total ending managed receivables		$	7,891.0		100.0		$	7,184.4		100.0
Delinquent loans:
31-60 days past due		$	150.0		1.9		$	126.6		1.8
61-90 days past due			52.1		0.7			42.6		0.6
Greater than 90 days past due			17.9		0.2			16.0		0.2
Total past due		$	220.0		2.8		$	185.2		2.6

(1) Percentage of total ending managed receivable

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

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- Definition

Tabular disclosure of financing receivables that are past due but not impaired, financing receivables that are 90 days past due and still accruing, and financing receivables on nonaccrual status.

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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.

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Tabular disclosure of the activity in the total allowance for credit losses related to noncurrent financing receivables (such as loans or lease receivables), including the balance in the allowance at the beginning and end of each period, additions charged to operations, direct write-downs charged against the allowance, and recoveries of amounts previously charged off.

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