XML 53 R32.htm IDEA: XBRL DOCUMENT
v3.21.1

Auto Loan Receivables (Tables) | 12 Months Ended
--- | ---
Feb. 28, 2021
Loans and Leases Receivable, Net Amount [Abstract] |
Auto Loan Receivables, Net | Auto Loans Receivable, Net
| As of February 28 or 29
(In millions) | 2021 |  | 2020
Asset-backed term funding | $ | 11,008.3 |  |  | $ | 11,007.1 |
Warehouse facilities | 2,314.1 |  |  | 2,181.7 |
Overcollateralization (1) | 345.2 |  |  | 289.0 |
Other managed receivables (2) | 179.6 |  |  | 140.0 |
Total ending managed receivables | 13,847.2 |  |  | 13,617.8 |
Accrued interest and fees | 57.4 |  |  | 56.2 |
Other | (3.7) |  |  | 35.5 |
Less: allowance for loan losses | (411.1) |  |  | (157.8) |
Auto loans receivable, net | $ | 13,489.8 |  |  | $ | 13,551.7 |
(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 February 28, 2021
| Fiscal Year of Origination (1) |  |  |  |
(In millions) | 2021 |  | 2020 |  | 2019 |  | 2018 |  | 2017 |  | Prior to 2017 |  | Total |  | % (2)
A | $ | 2,782.0 |  |  | $ | 2,146.5 |  |  | $ | 1,146.7 |  |  | $ | 568.9 |  |  | $ | 199.6 |  |  | $ | 30.4 |  |  | $ | 6,874.1 |  |  | 49.6 |
B | 1,993.6 |  |  | 1,424.5 |  |  | 870.1 |  |  | 476.0 |  |  | 195.5 |  |  | 49.2 |  |  | 5,008.9 |  |  | 36.2 |
C and other | 786.1 |  |  | 541.6 |  |  | 320.4 |  |  | 182.0 |  |  | 99.8 |  |  | 34.3 |  |  | 1,964.2 |  |  | 14.2 |
Total ending managed receivables | $ | 5,561.7 |  |  | $ | 4,112.6 |  |  | $ | 2,337.2 |  |  | $ | 1,226.9 |  |  | $ | 494.9 |  |  | $ | 113.9 |  |  | $ | 13,847.2 |  |  | 100.0 |
| As of February 29
(In millions) | 2020 (1) |  | % (2)
A | $ | 6,915.9 |  |  | 50.8 |
B | 4,841.2 |  |  | 35.6 |
C and other | 1,860.7 |  |  | 13.6 |
Total ending managed receivables | $ | 13,617.8 |  |  | 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
| As of February 28 or 29
(In millions) | 2021 |  | % (1) |  | 2020 (2) |  | % (1)
Balance as of beginning of year | $ | 157.8 |  |  | 1.16 |  |  | $ | 138.2 |  |  | 1.10 |
Adoption of ASU 2016-13 | 202.0 |  |  |  |  | — |  |  |
Adjusted balance as of beginning of period | 359.8 |  |  | 2.64 |  |  | 138.2 |  |  | 1.10 |
Charge-offs | (230.4) |  |  |  |  | (309.0) |  |  |
Recoveries (3) | 121.0 |  |  |  |  | 142.9 |  |  |
Provision for loan losses | 160.7 |  |  |  |  | 185.7 |  |  |
Balance as of end of year (4) | $ | 411.1 |  |  | 2.97 |  |  | $ | 157.8 |  |  | 1.16 |
(1)Percent of total ending managed receivables (2)The comparative information has not been restated and continues to be reported under the accounting guidance in effect during fiscal 2020. (3)Net of costs incurred to recover vehicle. (4)The allowance for loan losses primarily relates to estimated losses on CAF’s core receivables, noting that $31.8 million and $17.3 million of the total allowance related to the outstanding CAF Tier 3 loan balances as of February 28, 2021 and February 29, 2020, respectively.
Past Due Receivables | Past Due Receivables
| As of February 28, 2021
| Major Credit Grade |  |  |  |
(In millions) | A |  | B |  | C & Other |  | Total |  | % (1)
Current | $ | 6,847.2 |  |  | $ | 4,840.3 |  |  | $ | 1,767.2 |  |  | $ | 13,454.7 |  |  | 97.17 |
Delinquent loans: |  |  |  |  |  |  |  |  |
31-60 days past due | $ | 17.3 |  |  | $ | 108.9 |  |  | $ | 120.0 |  |  | $ | 246.2 |  |  | 1.78 |
61-90 days past due | $ | 7.0 |  |  | $ | 48.4 |  |  | $ | 64.5 |  |  | $ | 119.9 |  |  | 0.86 |
Greater than 90 days past due | $ | 2.6 |  |  | $ | 11.3 |  |  | $ | 12.5 |  |  | $ | 26.4 |  |  | 0.19 |
Total past due | $ | 26.9 |  |  | $ | 168.6 |  |  | $ | 197.0 |  |  | $ | 392.5 |  |  | 2.83 |
Total ending managed receivables | $ | 6,874.1 |  |  | $ | 5,008.9 |  |  | $ | 1,964.2 |  |  | $ | 13,847.2 |  |  | 100.00 |
| As of February 29
(In millions) | 2020 |  | % (1)
Total ending managed receivables | $ | 13,617.8 |  |  | 100.00 |
Delinquent loans: |  |  |
31-60 days past due | $ | 296.4 |  |  | 2.18 |
61-90 days past due | 138.3 |  |  | 1.01 |
Greater than 90 days past due | 34.2 |  |  | 0.25 |
Total past due | $ | 468.9 |  |  | 3.44 |
(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/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=121599337&loc=SL82919230-210447 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=121611835&loc=SL6953659-111524 + Details
Name: | us-gaap_FinancingReceivableCreditQualityIndicatorsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

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

X
- Definition Tabular disclosure of aging analysis for financing receivable. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 14 -URI http://asc.fasb.org/extlink&oid=121599337&loc=SL82919253-210447 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 7A -URI http://asc.fasb.org/extlink&oid=121611835&loc=SL6953401-111524 Reference 3: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 55 -Paragraph 80 -URI http://asc.fasb.org/extlink&oid=121647567&loc=SL82922355-210448 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=121611835&loc=d3e5111-111524 + Details
Name: | us-gaap_PastDueFinancingReceivablesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.3,4) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum: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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 11B -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=121611835&loc=SL6953423-111524 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=121599337&loc=SL82919249-210447 + Details
Name: | us-gaap_ScheduleOfCreditLossesRelatedToFinancingReceivablesNoncurrentTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration