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Auto Loan Receivables (Tables)
 9 Months Ended
Nov. 30, 2019
Loans and Leases Receivable, Net Amount [Abstract]  
Auto Loan Receivables, Net
Auto Loan Receivables, Net
 
As of November 30
 
As of February 28
(In millions)
2019
 
2019
Asset-backed term funding
$
10,616.9

 
$
10,273.4

Warehouse facilities
2,305.7

 
1,877.0

Overcollateralization (1)
296.3

 
273.3

Other managed receivables (2)
133.7

 
86.5

Total ending managed receivables
13,352.6

 
12,510.2

Accrued interest and fees
59.9

 
49.6

Other
17.8

 
6.9

Less allowance for loan losses
(153.6
)
 
(138.2
)
Auto loan receivables, net
$
13,276.7

 
$
12,428.5


(1)  
Represents receivables restricted as excess collateral for the non-recourse funding vehicles.
(2)
Other managed receivables includes receivables not funded through the non-recourse funding vehicles.
Ending Managed Receivables By Major Credit Grade
Ending Managed Receivables by Major Credit Grade
 
As of November 30
 
As of February 28
(In millions)
2019 (1)
 
% (2)
 
2019 (1)
 
% (2)
A
$
6,691.4

 
50.1
 
$
6,225.6

 
49.8
B
4,813.9

 
36.1
 
4,488.2

 
35.9
C and other
1,847.3

 
13.8
 
1,796.4

 
14.3
Total ending managed receivables
$
13,352.6

 
100.0
 
$
12,510.2

 
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)
2019
 
% (1)
 
2018
 
% (1)
 
2019
 
% (1)
 
2018
 
% (1)
Balance as of beginning of period
$
150.4

 
1.15
 
$
138.1

 
1.13
 
$
138.2

 
1.10
 
$
128.6

 
1.11
Charge-offs
(81.2
)
 
 
 
(74.3
)
 

 
(223.4
)
 
 
 
(198.1
)
 
 
Recoveries
35.4

 
 
 
33.7

 

 
106.1

 
 
 
96.1

 
 
Provision for loan losses
49.0

 
 
 
40.8

 

 
132.7

 
 
 
111.7

 
 
Balance as of end of period
$
153.6

 
1.15
 
$
138.3

 
1.12
 
$
153.6

 
1.15
 
$
138.3

 
1.12

(1)  
Percent of total ending managed receivables.
Past Due Receivables
Past Due Receivables
 
As of November 30
 
As of February 28
(In millions)
2019
 
% (1)
 
2019
 
% (1)
Total ending managed receivables
$
13,352.6

 
100.0
 
$
12,510.2

 
100.0
Delinquent loans:
 
 
 
 
 
 
 
31-60 days past due
$
323.0

 
2.4
 
$
276.5

 
2.2
61-90 days past due
152.3

 
1.1
 
141.4

 
1.1
Greater than 90 days past due
35.6

 
0.3
 
33.9

 
0.3
Total past due
$
510.9

 
3.8
 
$
451.8

 
3.6

(1)  
Percent of total ending managed receivables.