XML 51 R36.htm IDEA: XBRL DOCUMENT
v3.20.4

Income Taxes (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2020
Income Tax Disclosure [Abstract] |
Schedule Of Income Tax Provision | The income tax provision consists of the following:
(In millions) | For the Years Ended December 31,
| 2020 |  | 2019 |  | 2018
Income before provision for income taxes: | $ | 549.5 |  |  | $ | 855.9 |  |  | $ | 755.1 |
Current provision for income taxes: |  |  |  |  |
Federal | 53.8 |  |  | 94.1 |  |  | 110.9 |
State | 6.6 |  |  | 18.7 |  |  | 19.5 |
| 60.4 |  |  | 112.8 |  |  | 130.4 |
Deferred provision for income taxes: |  |  |  |  |
Federal | 57.3 |  |  | 70.7 |  |  | 35.0 |
State | 11.0 |  |  | 14.8 |  |  | 14.3 |
| 68.3 |  |  | 85.5 |  |  | 49.3 |
Interest and penalties expense: |  |  |  |  |
Interest | (0.2) |  |  | 1.5 |  |  | 1.4 |
Penalties | — |  |  | — |  |  | — |
| (0.2) |  |  | 1.5 |  |  | 1.4 |
Provision for income taxes | $ | 128.5 |  |  | $ | 199.8 |  |  | $ | 181.1 |
Schedule Of Deferred Tax Assets And Liabilities | The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities consist of the following:
(In millions) | As of December 31,
| 2020 |  | 2019
Deferred tax assets: |  |  |
Allowance for credit losses | $ | 801.4 |  |  | $ | 128.3 |
Stock-based compensation | 15.8 |  |  | 15.5 |
Deferred state net operating loss | 4.3 |  |  | 3.6 |
Other, net | 12.3 |  |  | 13.2 |
Total deferred tax assets | 833.8 |  |  | 160.6 |
Deferred tax liabilities: |  |  |
Valuation of Loans receivable | 1,208.5 |  |  | 471.3 |
Deferred Loan origination costs | 1.6 |  |  | 1.6 |
Other, net | 14.7 |  |  | 10.2 |
Total deferred tax liabilities | 1,224.8 |  |  | 483.1 |
Net deferred tax liability | $ | 391.0 |  |  | $ | 322.5 |
Schedule Of Reconciliation Of The U.S. Federal Statutory Rate To Effective Tax Rate | A reconciliation of the U.S. federal statutory income tax rate to our effective income tax rate is as follows:
| For the Years Ended December 31,
| 2020 |  | 2019 |  | 2018
U.S. federal statutory income tax rate | 21.0 | % |  | 21.0 | % |  | 21.0 | %
State income taxes | 2.7 | % |  | 3.1 | % |  | 3.5 | %
Excess tax benefits from stock-based compensation plans | -0.5 | % |  | -0.9 | % |  | -0.1 | %
Effect of the 2017 Tax Act | — | % |  | — | % |  | -0.7 | %
Other | 0.2 | % |  | 0.1 | % |  | 0.3 | %
Effective income tax rate | 23.4 | % |  | 23.3 | % |  | 24.0 | %
Schedule Of Unrecognized Tax Benefits | The following table is a summary of changes in gross unrecognized tax benefits:
(In millions) | For the Years Ended December 31,
| 2020 |  | 2019 |  | 2018
Unrecognized tax benefits at January 1, | $ | 41.7 |  |  | $ | 38.7 |  |  | $ | 31.9 |
Additions for tax positions of the current year | 10.2 |  |  | 10.0 |  |  | 10.2 |
Additions for tax positions of prior years | 0.1 |  |  | — |  |  | — |
Reductions for tax positions of prior years | — |  |  | — |  |  | — |
Settlements | (4.6) |  |  | (2.3) |  |  | — |
Reductions as a result of a lapse of the statute of limitations | (5.6) |  |  | (4.7) |  |  | (3.4) |
Unrecognized tax benefits at December 31, | $ | 41.8 |  |  | $ | 41.7 |  |  | $ | 38.7 |

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

X
- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the change in unrecognized tax benefits. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 55 -Paragraph 217 -URI http://asc.fasb.org/extlink&oid=121610041&loc=d3e36027-109320 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15A -URI http://asc.fasb.org/extlink&oid=84230637&loc=SL6600010-109319 + Details
Name: | us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration