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Finance Receivables and Obligations Collateralized by Finance Receivables (Tables) | 3 Months Ended
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Mar. 31, 2024
Financing Receivable, after Allowance for Credit Loss, Current [Abstract] |
Schedule of quantitative information about delinquencies, credit losses less recoveries ("net credit losses") and components of securitized financial assets and other related assets managed | The following tables present quantitative information about delinquencies, credit loss charge-offs less recoveries ("net credit losses") and components of securitized financial assets and other related assets managed. For purposes of this illustration, delinquent receivables are defined as receivables 31 days or more past due.
| March 31, 2024 |  | Net Credit Losses Three Months Ended March 31, 2024
| Total Amount of: |
(in millions) | Receivables |  | Receivables Delinquent |
Floorplan receivables | $ | 2,310.0 |  |  | $ | 24.1 |  |  | $ | 15.5 |
Other loans | 3.7 |  |  | — |  |  | — |
Total receivables managed | $ | 2,313.7 |  |  | $ | 24.1 |  |  | $ | 15.5 |
| December 31, 2023 |  | Net Credit Losses Three Months Ended March 31, 2023
| Total Amount of: |
(in millions) | Receivables |  | Receivables Delinquent |
Floorplan receivables | $ | 2,301.4 |  |  | $ | 23.7 |  |  | $ | 12.5 |
Other loans | 3.6 |  |  | — |  |  | — |
Total receivables managed | $ | 2,305.0 |  |  | $ | 23.7 |  |  | $ | 12.5 |
Summary of the changes in the allowance for credit losses and doubtful accounts | The following is a summary of the changes in the allowance for credit losses related to finance receivables (in millions):
| March 31, 2024 |  | March 31, 2023
Allowance for Credit Losses |  |  |
Balance at December 31 | $ | 23.0 |  |  | $ | 21.5 |
Provision for credit losses | 13.6 |  |  | 12.0 |
Recoveries | 1.6 |  |  | 1.6 |
Less charge-offs | (17.1) |  |  | (14.1) |
Other | (0.1) |  |  | — |
Balance at end of period | $ | 21.0 |  |  | $ | 21.0 |
Schedule of obligations collateralized by finance receivables | Obligations collateralized by finance receivables consisted of the following:
| March 31, 2024 |  | December 31, 2023
Obligations collateralized by finance receivables, gross | $ | 1,609.1 |  |  | $ | 1,645.4 |
Unamortized securitization issuance costs | (11.9) |  |  | (13.5) |
Obligations collateralized by finance receivables | $ | 1,597.2 |  |  | $ | 1,631.9 |

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- Definition Tabular disclosure of allowance for credit loss on financing receivable. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 326 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479319/326-20-50-13 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 11B -Publisher FASB -URI https://asc.fasb.org//1943274/2147481962/310-10-50-11B + Details
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- Definition Tabular disclosure of the carrying amount and classification of assets and liabilities recognized in the transferor's statement of financial position at the end of each period presented. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1A -Subparagraph (b)(1) -SubTopic 30 -Topic 860 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481420/860-30-50-1A + Details
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- Definition Tabular disclosure of transferred financial assets that continue to be recognized and other financial assets that it manages together with them. Includes, but is not limited to, delinquencies and credit losses, after recoveries. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 860 -SubTopic 20 -Section 50 -Paragraph 4 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481326/860-20-50-4 + Details
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