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Auto Loan Receivables (Tables)

3 Months Ended

May 31, 2018

Loans Receivable, Net [Abstract]

Auto Loan Receivables, Net

Auto Loan Receivables, Net

	As of May 31				As of February 28
(In millions)	2018				2018
Asset-backed term funding	$	9,559.5			$	9,455.2
Warehouse facilities	2,028.0				1,834.0
Overcollateralization (1)	277.4				269.4
Other managed receivables (2)	60.1				60.3
Total ending managed receivables	11,925.0				11,618.9
Accrued interest and fees	50.5				43.2
Other	1.5				2.2
Less allowance for loan losses	(134.3		)		(128.6		)
Auto loan receivables, net	$	11,842.7			$	11,535.7

⁽¹⁾   Represents receivables restricted as excess collateral for the non-recourse funding vehicles.

⁽²⁾ Other managed receivables includes receivables not funded through the non-recourse funding vehicles.

Ending Managed Receivables By Major Credit Grade

Ending Managed Receivables by Major Credit Grade

	As of May 31						As of February 28
(In millions)	2018 (1)				% (2)		2018 (1)				% (2)
A	$	5,871.2			49.2		$	5,725.1			49.3
B	4,267.2				35.8		4,133.8				35.6
C and other	1,786.6				15.0		1,760.0				15.1
Total ending managed receivables	$	11,925.0			100.0		$	11,618.9			100.0

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

⁽²⁾   Percent of total ending managed receivables.

Allowance For Loan Losses

Allowance for Loan Losses

	Three Months Ended May 31
(In millions)	2018				% (1)		2017				% (1)
Balance as of beginning of period	$	128.6			1.11		$	123.6			1.16
Charge-offs	(58.9		)				(54.1		)
Recoveries	33.7						31.7
Provision for loan losses	30.9						28.6
Balance as of end of period	$	134.3			1.13		$	129.8			1.18

⁽¹⁾   Percent of total ending managed receivables.

Past Due Receivables

Past Due Receivables

	As of May 31						As of February 28
(In millions)	2018				% (1)		2018				% (1)
Total ending managed receivables	$	11,925.0			100.0		$	11,618.9			100.0
Delinquent loans:
31-60 days past due	$	239.1			2.0		$	246.6			2.1
61-90 days past due	110.1				0.9		116.9				1.0
Greater than 90 days past due	27.1				0.3		29.7				0.3
Total past due	$	376.3			3.2		$	393.2			3.4

⁽¹⁾   Percent of total ending managed 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/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 55
-Paragraph 19
-URI http://asc.fasb.org/extlink&oid=82894031&loc=SL6953803-111525

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 29
-URI http://asc.fasb.org/extlink&oid=84173941&loc=SL6953659-111524

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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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=84173941&loc=d3e5111-111524

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-Name Accounting Standards Codification
-Topic 310
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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

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.3,4)
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- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 11B
-Subparagraph (c)
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