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3. Finance Receivables (Tables)

12 Months Ended

Dec. 31, 2018

Finance Receivables

Schedule of finance receivables

The following table presents the components of finance receivables, net of unearned interest:

		December 31,
		2018				2017
Finance receivables		(In thousands)
Automobile finance receivables, net of unearned interest		$	1,518,395			$	2,298,608
Unearned acquisition fees, discounts and deferred origination costs, net			3,690				6,376
Finance receivable		$	1,522,085			$	2,304,984

Schedule of delinquency status of finance receivables

The following table summarizes the delinquency status of finance receivables as of December 31, 2018 and 2017:

		December 31,
		2018				2017
		(In thousands)
Delinquency Status
Current		$	1,262,730			$	2,069,617
31 - 60 days			157,688				138,395
61 - 90 days.			66,134				63,081
91 + days			31,843				27,515
		$	1,518,395			$	2,298,608

Schedule of allowance for credit losses

The following table presents a summary of the activity for the allowance for finance credit losses, for the years ended December 31, 2018, 2017 and 2016:

		December 31,
		2018				2017				2016
						(In thousands)
Balance at beginning of year		$	109,187			$	95,578			$	75,603
Provision for credit losses			133,080				186,713				178,511
Charge-offs			(220,523	)			(211,948	)			(192,366	)
Recoveries			45,632				38,844				33,830
Balance at end of year		$	67,376			$	109,187			$	95,578

Schedule of allowance for losses on repossessed inventory

The following table presents a summary of such repossessed inventory together with the allowance for losses on repossessed inventory:

		December 31,
		2018				2017
		(In thousands)
Gross balance of repossessions in inventory		$	33,462			$	33,679
Allowance for losses on repossessed inventory			(24,564	)			(24,024	)
Net repossessed inventory included in other assets		$	8,898			$	9,655

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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

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Tabular disclosure of impaired financing receivables.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=84173941&loc=d3e5212-111524

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