XML 36 R25.htm IDEA: XBRL DOCUMENT
v3.5.0.2

Loans Receivable (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2016
Receivables [Abstract] |
Schedule of Loans Receivable | Loans receivable consists of the following:
(In millions) | As of June 30, 2016
| Dealer Loans |  | Purchased Loans |  | Total
Loans receivable | $ | 3,049.2 |  |  | $ | 762.8 |  |  | $ | 3,812.0 |
Allowance for credit losses | (268.2 | ) |  | (8.7 | ) |  | (276.9 | )
Loans receivable, net | $ | 2,781.0 |  |  | $ | 754.1 |  |  | $ | 3,535.1 |
(In millions) | As of December 31, 2015
| Dealer Loans |  | Purchased Loans |  | Total
Loans receivable | $ | 2,823.4 |  |  | $ | 521.7 |  |  | $ | 3,345.1 |
Allowance for credit losses | (235.1 | ) |  | (8.5 | ) |  | (243.6 | )
Loans receivable, net | $ | 2,588.3 |  |  | $ | 513.2 |  |  | $ | 3,101.5 |
Summary of Changes in Loans Receivable | A summary of changes in Loans receivable is as follows:
(In millions) | For the Three Months Ended June 30, 2016
| Dealer Loans |  | Purchased Loans |  | Total
Balance, beginning of period | $ | 2,985.7 |  |  | $ | 640.5 |  |  | $ | 3,626.2 |
New Consumer Loan assignments (1) | 438.0 |  |  | 189.4 |  |  | 627.4 |
Principal collected on Loans receivable | (420.5 | ) |  | (68.1 | ) |  | (488.6 | )
Accelerated Dealer Holdback payments | 14.9 |  |  | — |  |  | 14.9 |
Dealer Holdback payments | 35.9 |  |  | — |  |  | 35.9 |
Transfers (2) | (1.1 | ) |  | 1.1 |  |  | — |
Write-offs | (4.1 | ) |  | (0.1 | ) |  | (4.2 | )
Recoveries (3) | 0.4 |  |  | — |  |  | 0.4 |
Balance, end of period | $ | 3,049.2 |  |  | $ | 762.8 |  |  | $ | 3,812.0 |
(In millions) | For the Three Months Ended June 30, 2015
| Dealer Loans |  | Purchased Loans |  | Total
Balance, beginning of period | $ | 2,564.3 |  |  | $ | 379.3 |  |  | $ | 2,943.6 |
New Consumer Loan assignments (1) | 410.1 |  |  | 81.6 |  |  | 491.7 |
Principal collected on Loans receivable | (385.8 | ) |  | (46.3 | ) |  | (432.1 | )
Accelerated Dealer Holdback payments | 12.8 |  |  | — |  |  | 12.8 |
Dealer Holdback payments | 37.5 |  |  | — |  |  | 37.5 |
Transfers (2) | (3.3 | ) |  | 3.3 |  |  | — |
Write-offs | (1.3 | ) |  | (0.1 | ) |  | (1.4 | )
Recoveries (3) | 0.5 |  |  | — |  |  | 0.5 |
Balance, end of period | $ | 2,634.8 |  |  | $ | 417.8 |  |  | $ | 3,052.6 |
(In millions) | For the Six Months Ended June 30, 2016
| Dealer Loans |  | Purchased Loans |  | Total
Balance, beginning of period | $ | 2,823.4 |  |  | $ | 521.7 |  |  | $ | 3,345.1 |
New Consumer Loan assignments (1) | 1,000.7 |  |  | 370.8 |  |  | 1,371.5 |
Principal collected on Loans receivable | (871.3 | ) |  | (132.1 | ) |  | (1,003.4 | )
Accelerated Dealer Holdback payments | 29.7 |  |  | — |  |  | 29.7 |
Dealer Holdback payments | 75.8 |  |  | — |  |  | 75.8 |
Transfers (2) | (2.5 | ) |  | 2.5 |  |  | — |
Write-offs | (7.3 | ) |  | (0.1 | ) |  | (7.4 | )
Recoveries (3) | 0.7 |  |  | — |  |  | 0.7 |
Balance, end of period | $ | 3,049.2 |  |  | $ | 762.8 |  |  | $ | 3,812.0 |
(In millions) | For the Six Months Ended June 30, 2015
| Dealer Loans |  | Purchased Loans |  | Total
Balance, beginning of period | $ | 2,389.8 |  |  | $ | 330.0 |  |  | $ | 2,719.8 |
New Consumer Loan assignments (1) | 943.6 |  |  | 174.2 |  |  | 1,117.8 |
Principal collected on Loans receivable | (793.4 | ) |  | (93.2 | ) |  | (886.6 | )
Accelerated Dealer Holdback payments | 26.6 |  |  | — |  |  | 26.6 |
Dealer Holdback payments | 78.6 |  |  | — |  |  | 78.6 |
Transfers (2) | (6.9 | ) |  | 6.9 |  |  | — |
Write-offs | (4.4 | ) |  | (0.2 | ) |  | (4.6 | )
Recoveries (3) | 0.9 |  |  | 0.1 |  |  | 1.0 |
Balance, end of period | $ | 2,634.8 |  |  | $ | 417.8 |  |  | $ | 3,052.6 |
(1) | The Dealer Loans amount represents advances paid to Dealers on Consumer Loans assigned under our Portfolio Program. The Purchased Loans amount represents one-time payments made to Dealers to purchase Consumer Loans assigned under our Purchase Program.
(2) | Under our Portfolio Program, certain events may result in Dealers forfeiting their rights to Dealer Holdback. We transfer the Dealer’s outstanding Dealer Loan balance to Purchased Loans in the period this forfeiture occurs.
(3) | Represents collections received on previously written off Loans.
Summary of Changes in Accretable Yield | A summary of changes in the accretable yield is as follows:
(In millions) | For the Three Months Ended June 30, 2016
| Dealer Loans |  | Purchased Loans |  | Total
Balance, beginning of period | $ | 946.6 |  |  | $ | 238.6 |  |  | $ | 1,185.2 |
New Consumer Loan assignments (1) | 183.6 |  |  | 70.3 |  |  | 253.9 |
Accretion (2) | (180.4 | ) |  | (37.0 | ) |  | (217.4 | )
Provision for credit losses | 17.9 |  |  | — |  |  | 17.9 |
Forecast changes | (3.9 | ) |  | 10.4 |  |  | 6.5 |
Transfers (4) | (0.6 | ) |  | 1.0 |  |  | 0.4 |
Balance, end of period | $ | 963.2 |  |  | $ | 283.3 |  |  | $ | 1,246.5 |
(In millions) | For the Three Months Ended June 30, 2015
| Dealer Loans |  | Purchased Loans |  | Total
Balance, beginning of period | $ | 802.4 |  |  | $ | 155.1 |  |  | $ | 957.5 |
New Consumer Loan assignments (1) | 170.1 |  |  | 30.4 |  |  | 200.5 |
Accretion (2) (3) | (157.7 | ) |  | (24.8 | ) |  | (182.5 | )
Provision for credit losses (3) | 8.6 |  |  | (0.2 | ) |  | 8.4 |
Forecast changes (3) | 2.6 |  |  | 5.9 |  |  | 8.5 |
Transfers (4) | (0.9 | ) |  | 2.0 |  |  | 1.1 |
Balance, end of period | $ | 825.1 |  |  | $ | 168.4 |  |  | $ | 993.5 |
(In millions) | For the Six Months Ended June 30, 2016
| Dealer Loans |  | Purchased Loans |  | Total
Balance, beginning of period | $ | 874.2 |  |  | $ | 198.6 |  |  | $ | 1,072.8 |
New Consumer Loan assignments (1) | 417.7 |  |  | 137.6 |  |  | 555.3 |
Accretion (2) | (354.1 | ) |  | (68.4 | ) |  | (422.5 | )
Provision for credit losses | 39.7 |  |  | 0.3 |  |  | 40.0 |
Forecast changes | (13.5 | ) |  | 13.3 |  |  | (0.2 | )
Transfers (4) | (0.8 | ) |  | 1.9 |  |  | 1.1 |
Balance, end of period | $ | 963.2 |  |  | $ | 283.3 |  |  | $ | 1,246.5 |
(In millions) | For the Six Months Ended June 30, 2015
| Dealer Loans |  | Purchased Loans |  | Total
Balance, beginning of period | $ | 725.2 |  |  | $ | 136.5 |  |  | $ | 861.7 |
New Consumer Loan assignments (1) | 386.7 |  |  | 65.2 |  |  | 451.9 |
Accretion (2) (3) | (307.1 | ) |  | (47.7 | ) |  | (354.8 | )
Provision for credit losses (3) | 14.8 |  |  | (0.2 | ) |  | 14.6 |
Forecast changes (3) | 7.4 |  |  | 10.5 |  |  | 17.9 |
Transfers (4) | (1.9 | ) |  | 4.1 |  |  | 2.2 |
Balance, end of period | $ | 825.1 |  |  | $ | 168.4 |  |  | $ | 993.5 |
(1) | The Dealer Loans amount represents the net cash flows expected at the time of assignment on Consumer Loans assigned under our Portfolio Program, less the related advances paid to Dealers. The Purchased Loans amount represents the net cash flows expected at the time of assignment on Consumer Loans assigned under our Purchase Program, less the related one-time payments made to Dealers.
(2) | Represents finance charges excluding the amortization of deferred direct origination costs for Dealer Loans.
(3) | We have changed the presentation from prior periods to: (i) exclude the amortization of deferred direct origination costs for Dealer Loans from accretion (finance charge income under our previous presentation) and forecast changes and (ii) present provision for credit losses and forecast changes as separate activities. Under our previous presentation, we presented: (i) finance charges as reported in our consolidated statements of income and (ii) provision for credit losses and forecast changes as a combined activity.
(4) | Under our Portfolio Program, certain events may result in Dealers forfeiting their rights to Dealer Holdback. We transfer the Dealer’s outstanding Dealer Loan balance and related expected future net cash flows to Purchased Loans in the period this forfeiture occurs.
Summary of Information Related to New Consumer Loan Assignments | Additional information related to new Consumer Loan assignments is as follows:
(In millions) | For the Three Months Ended June 30, 2016
| Dealer Loans |  | Purchased Loans |  | Total
Contractual net cash flows at the time of assignment (1) | $ | 698.6 |  |  | $ | 382.9 |  |  | $ | 1,081.5 |
Expected net cash flows at the time of assignment (2) | 621.6 |  |  | 259.7 |  |  | 881.3 |
Fair value at the time of assignment (3) | 438.0 |  |  | 189.4 |  |  | 627.4 |
(In millions) | For the Three Months Ended June 30, 2015
| Dealer Loans |  | Purchased Loans |  | Total
Contractual net cash flows at the time of assignment (1) | $ | 643.8 |  |  | $ | 161.7 |  |  | $ | 805.5 |
Expected net cash flows at the time of assignment (2) | 580.2 |  |  | 112.0 |  |  | 692.2 |
Fair value at the time of assignment (3) | 410.1 |  |  | 81.6 |  |  | 491.7 |
(In millions) | For the Six Months Ended June 30, 2016
| Dealer Loans |  | Purchased Loans |  | Total
Contractual net cash flows at the time of assignment (1) | $ | 1,588.7 |  |  | $ | 749.5 |  |  | $ | 2,338.2 |
Expected net cash flows at the time of assignment (2) | 1,418.4 |  |  | 508.4 |  |  | 1,926.8 |
Fair value at the time of assignment (3) | 1,000.7 |  |  | 370.8 |  |  | 1,371.5 |
(In millions) | For the Six Months Ended June 30, 2015
| Dealer Loans |  | Purchased Loans |  | Total
Contractual net cash flows at the time of assignment (1) | $ | 1,469.1 |  |  | $ | 345.4 |  |  | $ | 1,814.5 |
Expected net cash flows at the time of assignment (2) | 1,330.3 |  |  | 239.4 |  |  | 1,569.7 |
Fair value at the time of assignment (3) | 943.6 |  |  | 174.2 |  |  | 1,117.8 |
(1) | The Dealer Loans amount represents the repayments that we were contractually owed at the time of assignment on Consumer Loans assigned under our Portfolio Program, less the related Dealer Holdback payments that we would be required to make if we collected all of the contractual repayments. The Purchased Loans amount represents the repayments that we were contractually owed at the time of assignment on Consumer Loans assigned under our Purchase Program.
(2) | The Dealer Loans amount represents the repayments that we expected to collect at the time of assignment on Consumer Loans assigned under our Portfolio Program, less the related Dealer Holdback payments that we expected to make. The Purchased Loans amount represents the repayments that we expected to collect at the time of assignment on Consumer Loans assigned under our Purchase Program.
(3) | The Dealer Loans amount represents advances paid to Dealers on Consumer Loans assigned under our Portfolio Program. The Purchased Loans amount represents one-time payments made to Dealers to purchase Consumer Loans assigned under our Purchase Program.
Schedule of Consumer Loans Forecasted Collection Percentage | The following table compares our forecast of Consumer Loan collection rates as of June 30, 2016, with the forecasts as of March 31, 2016, December 31, 2015, and at the time of assignment, segmented by year of assignment:
|  | Forecasted Collection Percentage as of (1) |  | Current Forecast Variance from
Consumer Loan Assignment Year |  | June 30, 2016 |  | March 31, 2016 |  | December 31, 2015 |  | Initial Forecast |  | March 31, 2016 |  | December 31, 2015 |  | Initial Forecast
2007 |  | 68.1 | % |  | 68.1 | % |  | 68.1 | % |  | 70.7 | % |  | 0.0 | % |  | 0.0 | % |  | -2.6 | %
2008 |  | 70.4 | % |  | 70.3 | % |  | 70.3 | % |  | 69.7 | % |  | 0.1 | % |  | 0.1 | % |  | 0.7 | %
2009 |  | 79.5 | % |  | 79.5 | % |  | 79.4 | % |  | 71.9 | % |  | 0.0 | % |  | 0.1 | % |  | 7.6 | %
2010 |  | 77.5 | % |  | 77.5 | % |  | 77.4 | % |  | 73.6 | % |  | 0.0 | % |  | 0.1 | % |  | 3.9 | %
2011 |  | 74.3 | % |  | 74.3 | % |  | 74.2 | % |  | 72.5 | % |  | 0.0 | % |  | 0.1 | % |  | 1.8 | %
2012 |  | 73.3 | % |  | 73.3 | % |  | 73.2 | % |  | 71.4 | % |  | 0.0 | % |  | 0.1 | % |  | 1.9 | %
2013 |  | 73.1 | % |  | 73.2 | % |  | 73.4 | % |  | 72.0 | % |  | -0.1 | % |  | -0.3 | % |  | 1.1 | %
2014 |  | 72.0 | % |  | 72.2 | % |  | 72.6 | % |  | 71.8 | % |  | -0.2 | % |  | -0.6 | % |  | 0.2 | %
2015 |  | 67.0 | % |  | 67.4 | % |  | 67.8 | % |  | 67.7 | % |  | -0.4 | % |  | -0.8 | % |  | -0.7 | %
2016 (2) |  | 66.5 | % |  | 66.1 | % |  | — |  |  | 66.3 | % |  | 0.4 | % |  | — |  |  | 0.2 | %
(1) | Represents the total forecasted collections we expect to collect on the Consumer Loans as a percentage of the repayments that we were contractually owed on the Consumer Loans at the time of assignment. Contractual repayments include both principal and interest. Forecasted collection rates are negatively impacted by canceled Consumer Loans as the contractual amount owed is not removed from the denominator for purposes of computing forecasted collection rates in the table.
(2) | The forecasted collection rate for 2016 Consumer Loans as of June 30, 2016 includes both Consumer Loans that were in our portfolio as of March 31, 2016 and Consumer Loans assigned during the most recent quarter. The following table provides forecasted collection rates for each of these segments:
|  | Forecasted Collection Percentage as of |  | Current Forecast Variance from
2016 Consumer Loan Assignment Period |  | June 30, 2016 |  | March 31, 2016 |  | Initial Forecast |  | March 31, 2016 |  | Initial Forecast
January 1, 2016 through March 31, 2016 |  | 67.1 | % |  | 66.1 | % |  | 66.5 | % |  | 1.0 | % |  | 0.6 | %
April 1, 2016 through June 30, 2016 |  | 65.7 | % |  | — |  |  | 66.1 | % |  | — |  |  | -0.4 | %
Schedule of Consumer Loans Performance | The following table segments our Loan portfolio by the performance of the Loan pools:
(In millions) | As of June 30, 2016
| Loan Pool Performance Meets or Exceeds Initial Estimates |  | Loan Pool Performance Less than Initial Estimates
| Dealer Loans |  | Purchased Loans |  | Total |  | Dealer Loans |  | Purchased Loans |  | Total
Loans receivable | $ | 1,036.0 |  |  | $ | 634.0 |  |  | $ | 1,670.0 |  |  | $ | 2,013.2 |  |  | $ | 128.8 |  |  | $ | 2,142.0 |
Allowance for credit losses | — |  |  | — |  |  | — |  |  | (268.2 | ) |  | (8.7 | ) |  | (276.9 | )
Loans receivable, net | $ | 1,036.0 |  |  | $ | 634.0 |  |  | $ | 1,670.0 |  |  | $ | 1,745.0 |  |  | $ | 120.1 |  |  | $ | 1,865.1 |
(In millions) | As of December 31, 2015
| Loan Pool Performance Meets or Exceeds Initial Estimates |  | Loan Pool Performance Less than Initial Estimates
| Dealer Loans |  | Purchased Loans |  | Total |  | Dealer Loans |  | Purchased Loans |  | Total
Loans receivable | $ | 1,066.8 |  |  | $ | 478.1 |  |  | $ | 1,544.9 |  |  | $ | 1,756.6 |  |  | $ | 43.6 |  |  | $ | 1,800.2 |
Allowance for credit losses | — |  |  | — |  |  | — |  |  | (235.1 | ) |  | (8.5 | ) |  | (243.6 | )
Loans receivable, net | $ | 1,066.8 |  |  | $ | 478.1 |  |  | $ | 1,544.9 |  |  | $ | 1,521.5 |  |  | $ | 35.1 |  |  | $ | 1,556.6 |
Summary of Changes in Allowance for Credit Losses | A summary of changes in the allowance for credit losses is as follows:
(In millions) | For the Three Months Ended June 30, 2016
| Dealer Loans |  | Purchased Loans |  | Total
Balance, beginning of period | $ | 254.0 |  |  | $ | 8.8 |  |  | $ | 262.8 |
Provision for credit losses | 17.9 |  |  | — |  |  | 17.9 |
Write-offs | (4.1 | ) |  | (0.1 | ) |  | (4.2 | )
Recoveries (1) | 0.4 |  |  | — |  |  | 0.4 |
Balance, end of period | $ | 268.2 |  |  | $ | 8.7 |  |  | $ | 276.9 |
(In millions) | For the Three Months Ended June 30, 2015
| Dealer Loans |  | Purchased Loans |  | Total
Balance, beginning of period | $ | 201.6 |  |  | $ | 8.8 |  |  | $ | 210.4 |
Provision for credit losses | 8.6 |  |  | (0.2 | ) |  | 8.4 |
Write-offs | (1.3 | ) |  | (0.1 | ) |  | (1.4 | )
Recoveries (1) | 0.5 |  |  | — |  |  | 0.5 |
Balance, end of period | $ | 209.4 |  |  | $ | 8.5 |  |  | $ | 217.9 |
(In millions) | For the Six Months Ended June 30, 2016
| Dealer Loans |  | Purchased Loans |  | Total
Balance, beginning of period | $ | 235.1 |  |  | $ | 8.5 |  |  | $ | 243.6 |
Provision for credit losses | 39.7 |  |  | 0.3 |  |  | 40.0 |
Write-offs | (7.3 | ) |  | (0.1 | ) |  | (7.4 | )
Recoveries (1) | 0.7 |  |  | — |  |  | 0.7 |
Balance, end of period | $ | 268.2 |  |  | $ | 8.7 |  |  | $ | 276.9 |
(In millions) | For the Six Months Ended June 30, 2015
| Dealer Loans |  | Purchased Loans |  | Total
Balance, beginning of period | $ | 198.1 |  |  | $ | 8.8 |  |  | $ | 206.9 |
Provision for credit losses | 14.8 |  |  | (0.2 | ) |  | 14.6 |
Write-offs | (4.4 | ) |  | (0.2 | ) |  | (4.6 | )
Recoveries (1) | 0.9 |  |  | 0.1 |  |  | 1.0 |
Balance, end of period | $ | 209.4 |  |  | $ | 8.5 |  |  | $ | 217.9 |
(1) | Represents collections received on previously written off Loans.

X
- Definition Schedule Of Changes In Accounts Notes Loans And Financing Receivable [Table Text Block] + References No definition available. + Details
Name: | cacc_ScheduleOfChangesInAccountsNotesLoansAndFinancingReceivableTableTextBlock
Namespace Prefix: | cacc_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule Of Consumer Loans Forecasted Collection Percentage [Text Block] + References No definition available. + Details
Name: | cacc_ScheduleOfConsumerLoansForecastedCollectionPercentageTextBlock
Namespace Prefix: | cacc_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule Of Consumer Loans Performance [Table Text Block] + References No definition available. + Details
Name: | cacc_ScheduleOfConsumerLoansPerformanceTableTextBlock
Namespace Prefix: | cacc_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of new consumer loan assignments. + References No definition available. + Details
Name: | cacc_ScheduleOfNewConsumerLoanAssignmentsTableTextBlock
Namespace Prefix: | cacc_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Summary of changes in the accretable yield. + References No definition available. + Details
Name: | cacc_SummaryOfChangesInAccretableYieldTableTextBlock
Namespace Prefix: | cacc_
Data Type: | nonnum: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/2003/role/presentationRef -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=6877327&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 the activity in the total allowance for credit losses related to financing receivables (such as loans or lease receivables) for entities that have an unclassified balance sheet, 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) -URI http://asc.fasb.org/extlink&oid=49124121&loc=SL6953423-111524 + Details
Name: | us-gaap_ScheduleOfCreditLossesRelatedToFinancingReceivablesCurrentAndNoncurrentTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration