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Finance Receivables (Tables)

6 Months Ended

Jun. 30, 2024

Receivables [Abstract]

Schedule of Finance Receivables

Finance receivables, net were as follows (in thousands):

			June 30, 2024						December 31, 2023						June 30, 2023
Retail finance receivables			$	6,993,930					$	6,818,699					$	6,955,514
Wholesale finance receivables			1,418,151						1,061,532						936,132
			8,412,081						7,880,231						7,891,646
Allowance for credit losses			(393,517)						(381,966)						(381,780)
			$	8,018,564					$	7,498,265					$	7,509,866

Schedule of Changes in the Allowance for Finance Credit Losses on Finance Receivables

Changes in the Company's allowance for credit losses on its finance receivables by portfolio were as follows (in thousands):

			Three months ended June 30, 2024																		Six months ended June 30, 2024
			Retail						Wholesale						Total						Retail						Wholesale						Total
Balance, beginning of period			$	365,411					$	14,950					$	380,361					$	367,037					$	14,929					$	381,966
Provision for credit losses			55,289						741						56,030						116,278						762						117,040
Charge-offs			(60,712)						—						(60,712)						(142,080)						—						(142,080)
Recoveries			17,838						—						17,838						36,591						—						36,591
Balance, end of period			$	377,826					$	15,691					$	393,517					$	377,826					$	15,691					$	393,517
			Three months ended June 30, 2023																		Six months ended June 30, 2023
			Retail						Wholesale						Total						Retail						Wholesale						Total
Balance, beginning of period			$	343,600					$	14,831					$	358,431					$	345,275					$	13,436					$	358,711
Provision for credit losses			57,248						30						57,278						108,217						1,425						109,642
Charge-offs			(50,437)						—						(50,437)						(118,445)						—						(118,445)
Recoveries			16,508						—						16,508						31,872						—						31,872
Balance, end of period			$	366,919					$	14,861					$	381,780					$	366,919					$	14,861					$	381,780

Schedule of Financing Receivable Credit Quality Indicators

The amortized cost along with period gross charge-offs of the Company's U.S. and Canadian retail finance receivables by vintage and credit quality indicator was as follows (in thousands):

			June 30, 2024
			2024						2023						2022						2021						2020						2019 & Prior						Total
U.S. Retail:
Super prime			$	684,675					$	858,653					$	575,749					$	282,472					$	103,657					$	53,898					$	2,559,104
Prime			682,513						988,918						810,245						462,594						194,018						136,465						3,274,753
Sub-prime			207,576						275,532						222,858						150,961						78,021						72,736						1,007,684
			1,574,764						2,123,103						1,608,852						896,027						375,696						263,099						6,841,541
Canadian Retail:
Super prime			25,927						38,107						23,842						12,492						5,744						2,558						108,670
Prime			6,535						11,106						8,880						5,513						3,232						2,680						37,946
Sub-prime			1,282						1,593						1,213						537						643						505						5,773
			33,744						50,806						33,935						18,542						9,619						5,743						152,389
			$	1,608,508					$	2,173,909					$	1,642,787					$	914,569					$	385,315					$	268,842					$	6,993,930
Gross charge-offs for the six months ended June 30, 2024:
U.S. Retail			$	615					$	42,843					$	48,949					$	26,374					$	11,088					$	9,932					$	139,801
Canadian Retail			—						740						704						398						187						250						2,279
			$	615					$	43,583					$	49,653					$	26,772					$	11,275					$	10,182					$	142,080

			December 31, 2023
			2023						2022						2021						2020						2019						2018 & Prior						Total
U.S. Retail:
Super prime			$	1,066,321					$	729,339					$	376,474					$	151,004					$	70,627					$	27,013					$	2,420,778
Prime			1,173,463						993,417						584,305						259,995						139,011						78,880						3,229,071
Sub-prime			333,099						275,964						189,688						101,437						63,393						44,568						1,008,149
			2,572,883						1,998,720						1,150,467						512,436						273,031						150,461						6,657,998
Canadian Retail:
Super prime			48,705						31,733						17,744						9,241						4,521						1,524						113,468
Prime			13,764						11,434						7,336						4,390						2,728						1,838						41,490
Sub-prime			1,846						1,546						739						817						525						270						5,743
			64,315						44,713						25,819						14,448						7,774						3,632						160,701
			$	2,637,198					$	2,043,433					$	1,176,286					$	526,884					$	280,805					$	154,093					$	6,818,699
Gross charge-offs for the year ended December 31, 2023:
U.S. Retail			$	20,047					$	102,387					$	74,212					$	30,896					$	18,088					$	14,655					$	260,285
Canadian Retail			527						1,004						866						472						278						483						3,630
			$	20,574					$	103,391					$	75,078					$	31,368					$	18,366					$	15,138					$	263,915

			June 30, 2023
			2023						2022						2021						2020						2019						2018 & Prior						Total
U.S. Retail:
Super prime			$	653,241					$	900,693					$	483,064					$	204,865					$	108,690					$	52,889					$	2,403,442
Prime			744,143						1,197,541						719,455						334,005						192,671						132,899						3,320,714
Sub-prime			203,996						341,127						236,686						128,806						83,042						69,723						1,063,380
			1,601,380						2,439,361						1,439,205						667,676						384,403						255,511						6,787,536
Canadian Retail:
Super prime			29,516						39,496						23,265						13,012						7,952						3,296						116,537
Prime			9,836						13,856						8,895						5,755						3,733						3,063						45,138
Sub-prime			1,287						1,868						1,021						994						666						467						6,303
			40,639						55,220						33,181						19,761						12,351						6,826						167,978
			$	1,642,019					$	2,494,581					$	1,472,386					$	687,437					$	396,754					$	262,337					$	6,955,514
Gross charge-offs for the six months ended June 30, 2023:
U.S. Retail			$	738					$	44,340					$	37,534					$	16,365					$	9,518					$	8,354					$	116,849
Canadian Retail			—						492						421						205						128						350						1,596
			$	738					$	44,832					$	37,955					$	16,570					$	9,646					$	8,704					$	118,445

The amortized cost of the Company's wholesale finance receivables, by vintage and credit quality indicator, was as follows (in thousands):

			June 30, 2024
			2024						2023						2022						2021						2020						2019 & Prior						Total
Non-Performing			$	2,738					$	2,672					$	145					$	—					$	—					$	5					$	5,560
Doubtful			5,105						4,661						144						—						—						9						9,919
Substandard			11,038						4,943						98						—						—						—						16,079
Special Mention			2,934						986						96						—						—						211						4,227
Medium Risk			—						—						—						—						—						—						—
Low Risk			1,088,176						236,891						41,749						3,877						3,716						7,957						1,382,366
			$	1,109,991					$	250,153					$	42,232					$	3,877					$	3,716					$	8,182					$	1,418,151

			December 31, 2023
			2023						2022						2021						2020						2019						2018 & Prior						Total
Non-Performing			$	—					$	—					$	—					$	—					$	—					$	—					$	—
Doubtful			—						—						—						—						—						—						—
Substandard			10,934						258						—						—						5						—						11,197
Special Mention			641						30						—						—						—						—						671
Medium Risk			2,905						—						—						—						—						—						2,905
Low Risk			961,519						66,757						5,107						4,962						7,786						628						1,046,759
			$	975,999					$	67,045					$	5,107					$	4,962					$	7,791					$	628					$	1,061,532

			June 30, 2023
			2023						2022						2021						2020						2019						2018 & Prior						Total
Non-Performing			$	—					$	—					$	—					$	—					$	—					$	—					$	—
Doubtful			—						—						—						—						—						—						—
Substandard			—						—						—						—						—						—						—
Special Mention			—						—						—						—						—						—						—
Medium Risk			—						—						—						—						—						—						—
Low Risk			746,491						165,620						7,060						5,779						8,665						2,517						936,132
			$	746,491					$	165,620					$	7,060					$	5,779					$	8,665					$	2,517					$	936,132

Schedule of Past Due Financing Receivables

The aging analysis of the Company's finance receivables was as follows (in thousands):

			June 30, 2024
			Current						31-60 Days Past Due						61-90 Days Past Due						Greater than 90 Days Past Due						Total Past Due						Total
Retail finance receivables			$	6,753,883					$	148,590					$	49,790					$	41,667					$	240,047					$	6,993,930
Wholesale finance receivables			1,417,053						715						219						164						1,098						1,418,151
			$	8,170,936					$	149,305					$	50,009					$	41,831					$	241,145					$	8,412,081
			December 31, 2023
			Current						31-60 Days Past Due						61-90 Days Past Due						Greater than 90 Days Past Due						Total Past Due						Total
Retail finance receivables			$	6,516,342					$	168,027					$	67,033					$	67,297					$	302,357					$	6,818,699
Wholesale finance receivables			1,060,561						763						25						183						971						1,061,532
			$	7,576,903					$	168,790					$	67,058					$	67,480					$	303,328					$	7,880,231
			June 30, 2023
			Current						31-60 Days Past Due						61-90 Days Past Due						Greater than 90 Days Past Due						Total Past Due						Total
Retail finance receivables			$	6,730,985					$	134,418					$	47,207					$	42,904					$	224,529					$	6,955,514
Wholesale finance receivables			934,562						1,543						26						1						1,570						936,132
			$	7,665,547					$	135,961					$	47,233					$	42,905					$	226,099					$	7,891,646

X

- Definition

Tabular disclosure of allowance for credit loss on financing receivable.

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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.

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Tabular disclosure of aging analysis for financing receivable.

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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.

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