Auto Loan Receivables (Tables)

Auto Loans Receivable, Net



	As of February 29 or 28
(In millions)	2020			2019
Asset-backed term funding	$	11,007.1		$	10,273.4
Warehouse facilities	2,181.7			1,877.0
Overcollateralization ⁽¹⁾	289.0			273.3
Other managed receivables⁽²⁾	140.0			86.5
Total ending managed receivables	13,617.8			12,510.2
Accrued interest and fees	56.2			49.6
Other	35.5			6.9
Less: allowance for loan losses	(157.8		)	(138.2		)
Auto loans receivable, net	$	13,551.7		$	12,428.5

Represents receivables restricted as excess collateral for the non-recourse funding vehicles.

Other managed receivables includes receivables not funded through the non-recourse funding vehicles.

Ending Managed Receivables by Major Credit Grade



	As of February 29 or 28
(In millions)	2020 ⁽¹⁾		% ⁽²⁾	2019⁽¹⁾		% ⁽²⁾
A	$	6,915.9	50.8	$	6,225.6	49.8
B	4,841.2		35.6	4,488.2		35.9
C and other	1,860.7		13.6	1,796.4		14.3
Total ending managed receivables	$	13,617.8	100.0	$	12,510.2	100.0

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

Percent of total ending managed receivables.

Allowance for Loan Losses



	As of February 29 or 28
(In millions)	2020			% ⁽¹⁾	2019			% ⁽¹⁾
Balance as of beginning of year	$	138.2		1.10	$	128.6		1.11
Charge-offs	(309.0		)		(274.2		)
Recoveries	142.9				130.0
Provision for loan losses	185.7				153.8
Balance as of end of year	$	157.8		1.16	$	138.2		1.10

Percent of total ending managed receivables.

Past Due Receivables



	As of February 29 or 28
(In millions)	2020		% ⁽¹⁾	2019		% ⁽¹⁾
Total ending managed receivables	$	13,617.8	100.0	$	12,510.2	100.0

Delinquent loans:
31-60 days past due	$	296.4	2.18	$	276.5	2.21
61-90 days past due	138.3		1.01	141.4		1.13
Greater than 90 days past due	34.2		0.25	33.9		0.27
Total past due	$	468.9	3.44	$	451.8	3.61

Percent of total ending managed receivables.