XML 16 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Statements Of Cash Flows (USD $)
In Thousands, unless otherwise specified
9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Cash Flows from Operating Activities:    
Net Income $ 43,134 $ 66,517
Adjustments to Reconcile Net Income to Net Cash (Used In) / Provided by Operating Activities:    
Provision for Credit Losses - Finance Receivables 240,489 181,840
Provision for Credit Losses - Dealer Finance Receivables 2,003 0
Depreciation Expense 17,734 15,061
Amortization of Debt Issuance Costs and Debt Premium and Discount 4,803 5,965
Non-Cash Compensation Expense—Related Party 930 1,239
Gain from Disposal of Property and Equipment (4) (138)
Originations of Finance Receivables (868,782) (749,268)
Collections and Recoveries on Finance Receivable Principal Balances 426,982 420,709
Change in Accrued Interest Receivable and Loan Origination Costs (2,786) (4,433)
Decrease in Vehicle Inventory 25,989 53,237
Change in Other Assets 6,011 2,599
Increase in Deferred Revenue 14,306 0
Increase in Accounts Payable, Accrued Expenses and Other Liabilities 17,055 34,576
Change in Accrued Expenses-Related Party (133) 213
Net Cash (Used In) / Provided by Operating Activities (72,269) 28,117
Cash Flows from Investing Activities:    
Originations of Dealer Finance Receivables (89,273) (25,602)
Collections and Recoveries of Dealer Finance Receivables, net 22,430 1,970
Proceeds from Disposal of Property and Equipment 1,377 1,521
Purchase of Property and Equipment (41,090) (15,807)
Net Cash Used in Investing Activities (106,556) (37,918)
Cash Flows from Financing Activities:    
Increase in Restricted Cash (10,546) (36)
Deposits into Investments Held in Trust (9,000) (9,000)
Collections, Buybacks and Change in Investments Held in Trust 4,930 38
Additions to Portfolio Term Financings 543,890 482,246
Repayment of Portfolio Term Financings (415,352) (345,481)
Additions to Portfolio Warehouse Facilities 709,400 548,300
Repayment of Portfolio Warehouse Facilities (712,600) (630,992)
Additions to Senior Secured Notes Payable 55,500 0
Additions to Other Secured Notes Payable 33,872 42,969
Repayment of Other Secured Notes Payable (2,189) (31,375)
Payment of Debt Issuance Costs (5,659) (3,206)
Dividend Distributions (10,855) (44,790)
Net Cash Provided by Financing Activities 181,391 8,673
Net Increase / (Decrease) in Cash and Cash Equivalents 2,566 (1,128)
Cash and Cash Equivalents at Beginning of Period 26,480 25,930
Cash and Cash Equivalents at End of Period 29,046 24,802
Supplemental Statement of Cash Flows Information:    
Interest Paid 48,986 48,621
Interest Paid—Related Party 476 0
Income Taxes Paid 874 1,209
Supplemental Statement of Non-Cash Investing and Financing Activities:    
Disposal of Fully Depreciated Property and Equipment $ 0 $ 2,710