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Auto Loan Receivables (Tables)

9 Months Ended

Nov. 30, 2016

Loans Receivable, Net [Abstract]

Auto Loan Receivables, Net

Auto Loan Receivables, Net



	As of November 30				As of February 29
(In millions)	2016				2016
Term securitizations	$	8,473.1			$	7,828.0
Warehouse facilities	1,677.0				1,399.0
Other receivables⁽¹⁾	257.6				366.6
Total ending managed receivables	10,407.7				9,593.6
Accrued interest and fees	41.8				35.0
Other	(1.4		)		3.2
Less allowance for loan losses	(114.8		)		(94.9		)
Auto loan receivables, net	$	10,333.3			$	9,536.9


⁽¹⁾	Other receivables includes receivables not funded through the warehouse facilities or term securitizations, including receivables restricted as excess collateral for those funding arrangements.

Ending Managed Receivables By Major Credit Grade

Ending Managed Receivables by Major Credit Grade



	As of November 30						As of February 29
(In millions)	2016⁽¹⁾				% ⁽²⁾		2016⁽¹⁾				% ⁽²⁾
A	$	5,068.7			48.7		$	4,666.6			48.6
B	3,643.9				35.0		3,400.1				35.4
C and other	1,695.1				16.3		1,526.9				16.0
Total ending managed receivables	$	10,407.7			100.0		$	9,593.6			100.0


⁽¹⁾	Classified based on credit grade assigned when customers were initially approved for financing.


⁽²⁾	Percent of total ending managed receivables.

Allowance For Loan Losses

Allowance for Loan Losses



	Three Months Ended November 30												Nine Months Ended November 30
(In millions)	2016				%⁽¹⁾		2015				%⁽¹⁾		2016				%⁽¹⁾		2015				%⁽¹⁾
Balance as of beginning of period	$	109.7			1.08		$	87.8			0.96		$	94.9			0.99		$	81.7			0.97
Charge-offs	(62.9		)				(51.9		)				(164.6		)				(128.7		)
Recoveries	26.1						24.1						80.3						67.7
Provision for loan losses	41.9						30.9						104.2						70.2
Balance as of end of period	$	114.8			1.10		$	90.9			0.97		$	114.8			1.10		$	90.9			0.97


⁽¹⁾	Percent of total ending managed receivables.

Past Due Receivables

Past Due Receivables



	As of November 30						As of February 29
(In millions)	2016				%⁽¹⁾		2016				%⁽¹⁾
Total ending managed receivables	$	10,407.7			100.0		$	9,593.6			100.0
Delinquent loans:
31-60 days past due	$	228.8			2.2		$	171.0			1.8
61-90 days past due	101.9				1.0		69.1				0.7
Greater than 90 days past due	29.0				0.3		22.7				0.2
Total past due	$	359.7			3.5		$	262.8			2.7


⁽¹⁾	Percent of total ending managed receivables.