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Finance Receivables (Tables) | 12 Months Ended
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Dec. 31, 2019
Receivables [Abstract] |
Finance Receivables | Finance receivables, net at December 31, were as follows (in thousands):
| 2019 |  | 2018 |  | 2017 |  | 2016 |  | 2015
Retail finance receivables: |  |  |  |  |  |  |  |  |
United States | $ | 6,180,236 |  |  | $ | 6,103,378 |  |  | $ | 5,901,002 |  |  | $ | 5,769,410 |  |  | $ | 5,803,071 |
Canada | 236,192 |  |  | 224,823 |  |  | 239,598 |  |  | 212,801 |  |  | 188,400 |
| 6,416,428 |  |  | 6,328,201 |  |  | 6,140,600 |  |  | 5,982,211 |  |  | 5,991,471 |
Wholesale finance receivables: |  |  |  |  |  |  |  |  |
United States | 1,067,880 |  |  | 1,007,956 |  |  | 939,621 |  |  | 961,150 |  |  | 965,379 |
Canada | 88,639 |  |  | 75,659 |  |  | 77,336 |  |  | 65,440 |  |  | 58,481 |
| 1,156,519 |  |  | 1,083,615 |  |  | 1,016,957 |  |  | 1,026,590 |  |  | 1,023,860 |
| 7,572,947 |  |  | 7,411,816 |  |  | 7,157,557 |  |  | 7,008,801 |  |  | 7,015,331 |
Allowance for credit losses | (198,581 | ) |  | (189,885 | ) |  | (192,471 | ) |  | (173,343 | ) |  | (147,178 | )
| $ | 7,374,366 |  |  | $ | 7,221,931 |  |  | $ | 6,965,086 |  |  | $ | 6,835,458 |  |  | $ | 6,868,153 |
Contractual Maturities Of Finance Receivables | As of December 31, 2019, contractual maturities of total finance receivables were as follows (in thousands):
| United States |  | Canada |  | Total
2020 | $ | 2,177,277 |  |  | $ | 138,251 |  |  | $ | 2,315,528 |
2021 | 1,188,915 |  |  | 52,390 |  |  | 1,241,305 |
2022 | 1,329,148 |  |  | 56,629 |  |  | 1,385,777 |
2023 | 1,486,564 |  |  | 61,211 |  |  | 1,547,775 |
2024 | 1,061,450 |  |  | 16,350 |  |  | 1,077,800 |
Thereafter | 4,762 |  |  | — |  |  | 4,762 |
| $ | 7,248,116 |  |  | $ | 324,831 |  |  | $ | 7,572,947 |
Changes In The Allowance For Finance Credit Losses On Finance Receivables | Changes in the allowance for credit losses on finance receivables by portfolio for the year ended December 31, were as follows (in thousands):
| 2019
Retail |  | Wholesale |  | Total
Balance, beginning of period | $ | 182,098 |  |  | $ | 7,787 |  |  | $ | 189,885 |
Provision for credit losses | 132,243 |  |  | 2,293 |  |  | 134,536 |
Charge-offs | (173,358 | ) |  | — |  |  | (173,358 | )
Recoveries | 47,518 |  |  | — |  |  | 47,518 |
Balance, end of period | $ | 188,501 |  |  | $ | 10,080 |  |  | $ | 198,581 |
| 2018
Retail |  | Wholesale |  | Total
Balance, beginning of period | $ | 186,254 |  |  | $ | 6,217 |  |  | $ | 192,471 |
Provision for credit losses | 105,292 |  |  | 1,578 |  |  | 106,870 |
Charge-offs | (154,433 | ) |  | (8 | ) |  | (154,441 | )
Recoveries | 44,985 |  |  | — |  |  | 44,985 |
Balance, end of period | $ | 182,098 |  |  | $ | 7,787 |  |  | $ | 189,885 |
| 2017
Retail |  | Wholesale |  | Total
Balance, beginning of period | $ | 166,810 |  |  | $ | 6,533 |  |  | $ | 173,343 |
Provision for credit losses | 132,760 |  |  | (316 | ) |  | 132,444 |
Charge-offs | (160,972 | ) |  | — |  |  | (160,972 | )
Recoveries | 47,656 |  |  | — |  |  | 47,656 |
Balance, end of period | $ | 186,254 |  |  | $ | 6,217 |  |  | $ | 192,471 |
Finance receivables are considered impaired when management determines it is probable that the Company will be unable to collect all amounts due according to the terms of the loan agreement. Portions of the allowance for credit losses are established to cover estimated losses on finance receivables specifically identified for impairment. The unspecified portion of the allowance for credit losses covers estimated losses on finance receivables which are collectively reviewed for impairment. Impaired finance receivables also include loans that have been modified in troubled debt restructurings as a concession to borrowers experiencing financial difficulty. Generally, it is the Company’s policy not to change the terms and conditions of finance receivables. However, to minimize the economic loss, the Company may modify certain finance receivables in troubled debt restructurings. Total restructured finance receivables are not significant. The allowance for credit losses and finance receivables by portfolio, segregated by those amounts that are individually evaluated for impairment and those that are collectively evaluated for impairment, at December 31, was as follows (in thousands):
| 2019
| Retail |  | Wholesale |  | Total
Allowance for credit losses, ending balance: |  |  |  |  |
Individually evaluated for impairment | $ | — |  |  | $ | 2,100 |  |  | $ | 2,100 |
Collectively evaluated for impairment | 188,501 |  |  | 7,980 |  |  | 196,481 |
| $ | 188,501 |  |  | $ | 10,080 |  |  | $ | 198,581 |
Finance receivables, ending balance: |  |  |  |  |
Individually evaluated for impairment | $ | — |  |  | $ | 4,601 |  |  | $ | 4,601 |
Collectively evaluated for impairment | 6,416,428 |  |  | 1,151,918 |  |  | 7,568,346 |
| $ | 6,416,428 |  |  | $ | 1,156,519 |  |  | $ | 7,572,947 |
| 2018
| Retail |  | Wholesale |  | Total
Allowance for credit losses, ending balance: |  |  |  |  |
Individually evaluated for impairment | $ | — |  |  | $ | — |  |  | $ | — |
Collectively evaluated for impairment | 182,098 |  |  | 7,787 |  |  | 189,885 |
| $ | 182,098 |  |  | $ | 7,787 |  |  | $ | 189,885 |
Finance receivables, ending balance: |  |  |  |  |
Individually evaluated for impairment | $ | — |  |  | $ | — |  |  | $ | — |
Collectively evaluated for impairment | 6,328,201 |  |  | 1,083,615 |  |  | 7,411,816 |
| $ | 6,328,201 |  |  | $ | 1,083,615 |  |  | $ | 7,411,816 |
Impaired Financing Receivables Under ASC 310 | Additional information related to the wholesale finance receivables that are individually deemed to be impaired under ASC Topic 310, Receivables at December 31, 2019 includes (in thousands):
| Recorded Investment |  | Unpaid Principal Balance |  | Related Allowance |  | Average Recorded Investment |  | Interest Income Recognized
Wholesale: |  |  |  |  |  |  |  |  |
No related allowance recorded | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Related allowance recorded | 4,994 |  |  | 4,601 |  |  | 2,100 |  |  | 4,976 |  |  | — |
| $ | 4,994 |  |  | $ | 4,601 |  |  | $ | 2,100 |  |  | $ | 4,976 |  |  | $ | — |
Past Due Financing Receivables | An aging analysis of finance receivables at December 31, was as follows (in thousands):
| 2019
| Current |  | 31-60 Days Past Due |  | 61-90 Days Past Due |  | Greater than 90 Days Past Due |  | Total Past Due |  | Total Finance Receivables
Retail finance receivables | $ | 6,171,930 |  |  | $ | 142,479 |  |  | $ | 53,995 |  |  | $ | 48,024 |  |  | $ | 244,498 |  |  | $ | 6,416,428 |
Wholesale financial receivables | 1,152,416 |  |  | 1,145 |  |  | 384 |  |  | 2,574 |  |  | 4,103 |  |  | 1,156,519 |
| $ | 7,324,346 |  |  | $ | 143,624 |  |  | $ | 54,379 |  |  | $ | 50,598 |  |  | $ | 248,601 |  |  | $ | 7,572,947 |
| 2018
| Current |  | 31-60 Days Past Due |  | 61-90 Days Past Due |  | Greater than 90 Days Past Due |  | Total Past Due |  | Total Finance Receivables
Retail finance receivables | $ | 6,100,186 |  |  | $ | 136,945 |  |  | $ | 49,825 |  |  | $ | 41,245 |  |  | $ | 228,015 |  |  | $ | 6,328,201 |
Wholesale financial receivables | 1,081,729 |  |  | 522 |  |  | 273 |  |  | 1,091 |  |  | 1,886 |  |  | 1,083,615 |
| $ | 7,181,915 |  |  | $ | 137,467 |  |  | $ | 50,098 |  |  | $ | 42,336 |  |  | $ | 229,901 |  |  | $ | 7,411,816 |
The recorded investment of retail and wholesale finance receivables, excluding non-accrual status finance receivables, that were contractually past due 90 days or more at December 31, for the past five years was as follows (in thousands):
| 2019 |  | 2018 |  | 2017 |  | 2016 |  | 2015
United States | $ | 47,138 |  |  | $ | 41,285 |  |  | $ | 39,051 |  |  | $ | 39,399 |  |  | $ | 31,677 |
Canada | 888 |  |  | 1,051 |  |  | 1,025 |  |  | 1,326 |  |  | 1,192 |
| $ | 48,026 |  |  | $ | 42,336 |  |  | $ | 40,076 |  |  | $ | 40,725 |  |  | $ | 32,869 |
Financing Receivable Credit Quality Indicators | The recorded investment of retail finance receivables, by credit quality indicator at December 31, was as follows (in thousands):
| 2019 |  | 2018
Prime | $ | 5,278,093 |  |  | $ | 5,183,754 |
Sub-prime | 1,138,335 |  |  | 1,144,447 |
| $ | 6,416,428 |  |  | $ | 6,328,201 |
The recorded investment of wholesale finance receivables, by internal credit quality indicator at December 31, was as follows (in thousands):
| 2019 |  | 2018
Doubtful | $ | 11,664 |  |  | $ | 2,210 |
Substandard | 6,122 |  |  | 9,660 |
Special Mention | 16,125 |  |  | 10,299 |
Medium Risk | 16,800 |  |  | 25,802 |
Low Risk | 1,105,808 |  |  | 1,035,644 |
| $ | 1,156,519 |  |  | $ | 1,083,615 |

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- 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=119407570&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=118936363&loc=SL6953659-111524 + Details
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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://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
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