XML 40 R28.htm IDEA: XBRL DOCUMENT
v3.19.1

Loans Receivable (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2019
Receivables [Abstract] |
Schedule of Loans Receivable | Loans receivable consists of the following:
(In millions) | As of March 31, 2019
| Dealer Loans |  | Purchased Loans |  | Total
Loans receivable | $ | 4,347.5 |  |  | $ | 2,270.4 |  |  | $ | 6,617.9 |
Allowance for credit losses | (383.1 | ) |  | (91.1 | ) |  | (474.2 | )
Loans receivable, net | $ | 3,964.4 |  |  | $ | 2,179.3 |  |  | $ | 6,143.7 |
(In millions) | As of December 31, 2018
| Dealer Loans |  | Purchased Loans |  | Total
Loans receivable | $ | 4,141.0 |  |  | $ | 2,084.2 |  |  | $ | 6,225.2 |
Allowance for credit losses | (378.1 | ) |  | (83.8 | ) |  | (461.9 | )
Loans receivable, net | $ | 3,762.9 |  |  | $ | 2,000.4 |  |  | $ | 5,763.3 |
Summary of Changes in Loans Receivable | A summary of changes in Loans receivable is as follows:
(In millions) | For the Three Months Ended March 31, 2019
| Dealer Loans |  | Purchased Loans |  | Total
Balance, beginning of period | $ | 4,141.0 |  |  | $ | 2,084.2 |  |  | $ | 6,225.2 |
New Consumer Loan assignments (1) | 719.0 |  |  | 386.4 |  |  | 1,105.4 |
Principal collected on Loans receivable | (531.3 | ) |  | (226.1 | ) |  | (757.4 | )
Accelerated Dealer Holdback payments | 12.3 |  |  | — |  |  | 12.3 |
Dealer Holdback payments | 34.6 |  |  | — |  |  | 34.6 |
Transfers (2) | (25.7 | ) |  | 25.7 |  |  | — |
Write-offs | (2.8 | ) |  | (0.1 | ) |  | (2.9 | )
Recoveries (3) | 0.4 |  |  | 0.3 |  |  | 0.7 |
Balance, end of period | $ | 4,347.5 |  |  | $ | 2,270.4 |  |  | $ | 6,617.9 |
(In millions) | For the Three Months Ended March 31, 2018
| Dealer Loans |  | Purchased Loans |  | Total
Balance, beginning of period | $ | 3,518.1 |  |  | $ | 1,530.9 |  |  | $ | 5,049.0 |
New Consumer Loan assignments (1) | 709.2 |  |  | 342.4 |  |  | 1,051.6 |
Principal collected on Loans receivable | (478.7 | ) |  | (165.2 | ) |  | (643.9 | )
Accelerated Dealer Holdback payments | 12.6 |  |  | — |  |  | 12.6 |
Dealer Holdback payments | 33.2 |  |  | — |  |  | 33.2 |
Transfers (2) | (18.4 | ) |  | 18.4 |  |  | — |
Write-offs | (4.3 | ) |  | (2.1 | ) |  | (6.4 | )
Recoveries (3) | 1.8 |  |  | 0.2 |  |  | 2.0 |
Balance, end of period | $ | 3,773.5 |  |  | $ | 1,724.6 |  |  | $ | 5,498.1 |
(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 and the related allowance for credit losses 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 March 31, 2019
| Dealer Loans |  | Purchased Loans |  | Total
Balance, beginning of period | $ | 1,283.0 |  |  | $ | 782.5 |  |  | $ | 2,065.5 |
New Consumer Loan assignments (1) | 291.3 |  |  | 160.0 |  |  | 451.3 |
Accretion (2) | (215.7 | ) |  | (108.4 | ) |  | (324.1 | )
Provision for credit losses | 11.6 |  |  | 2.9 |  |  | 14.5 |
Forecast changes | 0.5 |  |  | 16.2 |  |  | 16.7 |
Transfers (3) | (9.5 | ) |  | 11.8 |  |  | 2.3 |
Balance, end of period | $ | 1,361.2 |  |  | $ | 865.0 |  |  | $ | 2,226.2 |
(In millions) | For the Three Months Ended March 31, 2018
| Dealer Loans |  | Purchased Loans |  | Total
Balance, beginning of period | $ | 1,088.6 |  |  | $ | 576.9 |  |  | $ | 1,665.5 |
New Consumer Loan assignments (1) | 289.4 |  |  | 147.8 |  |  | 437.2 |
Accretion (2) | (192.3 | ) |  | (80.1 | ) |  | (272.4 | )
Provision for credit losses | 18.7 |  |  | 4.7 |  |  | 23.4 |
Forecast changes | (6.1 | ) |  | (4.7 | ) |  | (10.8 | )
Transfers (3) | (7.2 | ) |  | 9.2 |  |  | 2.0 |
Balance, end of period | $ | 1,191.1 |  |  | $ | 653.8 |  |  | $ | 1,844.9 |
(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) | 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, the related allowance for credit losses 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 March 31, 2019
| Dealer Loans |  | Purchased Loans |  | Total
Contractual net cash flows at the time of assignment (1) | $ | 1,131.5 |  |  | $ | 850.3 |  |  | $ | 1,981.8 |
Expected net cash flows at the time of assignment (2) | 1,010.3 |  |  | 546.4 |  |  | 1,556.7 |
Fair value at the time of assignment (3) | 719.0 |  |  | 386.4 |  |  | 1,105.4 |
(In millions) | For the Three Months Ended March 31, 2018
| Dealer Loans |  | Purchased Loans |  | Total
Contractual net cash flows at the time of assignment (1) | $ | 1,122.7 |  |  | $ | 765.9 |  |  | $ | 1,888.6 |
Expected net cash flows at the time of assignment (2) | 998.6 |  |  | 490.2 |  |  | 1,488.8 |
Fair value at the time of assignment (3) | 709.2 |  |  | 342.4 |  |  | 1,051.6 |
(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 March 31, 2019 with the forecasts as of December 31, 2018 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 |  | March 31, 2019 |  | December 31, 2018 |  | Initial Forecast |  | December 31, 2018 |  | Initial Forecast
2010 |  | 77.7 | % |  | 77.7 | % |  | 73.6 | % |  | 0.0 | % |  | 4.1 | %
2011 |  | 74.8 | % |  | 74.7 | % |  | 72.5 | % |  | 0.1 | % |  | 2.3 | %
2012 |  | 73.8 | % |  | 73.8 | % |  | 71.4 | % |  | 0.0 | % |  | 2.4 | %
2013 |  | 73.5 | % |  | 73.5 | % |  | 72.0 | % |  | 0.0 | % |  | 1.5 | %
2014 |  | 71.7 | % |  | 71.7 | % |  | 71.8 | % |  | 0.0 | % |  | -0.1 | %
2015 |  | 65.4 | % |  | 65.4 | % |  | 67.7 | % |  | 0.0 | % |  | -2.3 | %
2016 |  | 64.1 | % |  | 64.2 | % |  | 65.4 | % |  | -0.1 | % |  | -1.3 | %
2017 |  | 65.2 | % |  | 65.5 | % |  | 64.0 | % |  | -0.3 | % |  | 1.2 | %
2018 |  | 65.5 | % |  | 65.0 | % |  | 63.6 | % |  | 0.5 | % |  | 1.9 | %
2019 |  | 64.1 | % |  | — |  |  | 63.9 | % |  | — |  |  | 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.
Schedule of Additional Consumer Loans Forecasted Collection Percentage |
Schedule of Consumer Loans Performance | The following table segments our Loan portfolio by the performance of the Loan pools:
(In millions) | As of March 31, 2019
| 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 | $ | 1,479.7 |  |  | $ | 1,607.2 |  |  | $ | 3,086.9 |  |  | $ | 2,867.8 |  |  | $ | 663.2 |  |  | $ | 3,531.0 |
Allowance for credit losses | — |  |  | — |  |  | — |  |  | (383.1 | ) |  | (91.1 | ) |  | (474.2 | )
Loans receivable, net | $ | 1,479.7 |  |  | $ | 1,607.2 |  |  | $ | 3,086.9 |  |  | $ | 2,484.7 |  |  | $ | 572.1 |  |  | $ | 3,056.8 |
(In millions) | As of December 31, 2018
| 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 | $ | 1,355.1 |  |  | $ | 1,392.1 |  |  | $ | 2,747.2 |  |  | $ | 2,785.9 |  |  | $ | 692.1 |  |  | $ | 3,478.0 |
Allowance for credit losses | — |  |  | — |  |  | — |  |  | (378.1 | ) |  | (83.8 | ) |  | (461.9 | )
Loans receivable, net | $ | 1,355.1 |  |  | $ | 1,392.1 |  |  | $ | 2,747.2 |  |  | $ | 2,407.8 |  |  | $ | 608.3 |  |  | $ | 3,016.1 |
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 March 31, 2019
| Dealer Loans |  | Purchased Loans |  | Total
Balance, beginning of period | $ | 378.1 |  |  | $ | 83.8 |  |  | $ | 461.9 |
Provision for credit losses | 11.6 |  |  | 2.9 |  |  | 14.5 |
Transfers (1) | (4.2 | ) |  | 4.2 |  |  | — |
Write-offs | (2.8 | ) |  | (0.1 | ) |  | (2.9 | )
Recoveries (2) | 0.4 |  |  | 0.3 |  |  | 0.7 |
Balance, end of period | $ | 383.1 |  |  | $ | 91.1 |  |  | $ | 474.2 |
(In millions) | For the Three Months Ended March 31, 2018
| Dealer Loans |  | Purchased Loans |  | Total
Balance, beginning of period | $ | 366.0 |  |  | $ | 63.4 |  |  | $ | 429.4 |
Provision for credit losses | 18.7 |  |  | 4.7 |  |  | 23.4 |
Transfers (1) | (2.9 | ) |  | 2.9 |  |  | — |
Write-offs | (4.3 | ) |  | (2.1 | ) |  | (6.4 | )
Recoveries (2) | 1.8 |  |  | 0.2 |  |  | 2.0 |
Balance, end of period | $ | 379.3 |  |  | $ | 69.1 |  |  | $ | 448.4 |
(1) | 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 the related allowance for credit losses balance to Purchased Loans in the period this forfeiture occurs.
(2) | 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 [Table Text Block] for Schedule of Additional Consumer Loans Forecasted Collection Percentage [Table] + References No definition available. + Details
Name: | cacc_ScheduleofAdditionalConsumerLoansForecastedCollectionPercentageTableTextBlock
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
- Definition Tabular disclosure of financing receivables (examples of financing receivables include loans, trade accounts receivable and notes receivable) and activity in the allowance for credit losses account. + 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 -URI http://asc.fasb.org/extlink&oid=84173941&loc=SL6953423-111524 + Details
Name: | us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock
Namespace Prefix: | us-gaap_
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://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=6877327&loc=d3e13212-122682 + Details
Name: | us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration