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Auto Loan Receivables (Tables)

12 Months Ended

Feb. 28, 2023

Auto Loans Receivable, Net


	As of February 28
(In millions)	2023		2022
Asset-backed term funding	$	12,242.8	$	11,653.8
Warehouse facilities	3,649.9		3,291.9
Overcollateralization (1)	739.9		489.1
Other managed receivables (2)	135.3		217.5
Total ending managed receivables	16,767.9		15,652.3
Accrued interest and fees	78.0		67.3
Other	3.1		3.1
Less: allowance for loan losses	(507.2)		(433.0)
Auto loans receivable, net	$	16,341.8	$	15,289.7

(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


	As of February 28, 2023
	Fiscal Year of Origination (1)
(In millions)	2023		2022		2021		2020		2019		Prior to 2019		Total		% (2)
Core managed receivables (3):
A	$	3,890.9	$	2,555.3	$	1,112.0	$	677.1	$	218.3	$	36.3	$	8,489.9	50.6
B	2,497.5		1,839.9		816.2		488.9		215.1		56.0		5,913.6		35.3
C and other	732.7		609.5		314.5		169.3		74.1		25.6		1,925.7		11.5
Total core managed receivables	7,121.1		5,004.7		2,242.7		1,335.3		507.5		117.9		16,329.2		97.4
Other managed receivables (4):
C and other	272.0		112.5		15.0		21.1		13.2		4.9		438.7		2.6

Total ending managed receivables	$	7,393.1	$	5,117.2	$	2,257.7	$	1,356.4	$	520.7	$	122.8	$	16,767.9	100.0


	As of February 28, 2022
	Fiscal Year of Origination (1)
(In millions)	2022		2021		2020		2019		2018		Prior to 2018		Total		% (2)
Core managed receivables (3):
A	$	3,885.5	$	1,788.3	$	1,266.1	$	574.1	$	203.4	$	32.3	$	7,749.7	49.5
B	2,795.2		1,288.5		857.7		473.1		205.2		50.4		5,670.1		36.2
C and other	919.1		496.2		294.8		156.7		73.8		29.6		1,970.2		12.6
Total core managed receivables	7,599.8		3,573.0		2,418.6		1,203.9		482.4		112.3		15,390.0		98.3
Other managed receivables (4):
C and other	165.2		23.9		34.7		23.8		10.0		4.7		262.3		1.7

Total ending managed receivables	$	7,765.0	$	3,596.9	$	2,453.3	$	1,227.7	$	492.4	$	117.0	$	15,652.3	100.0

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

(2)Percent of total ending managed receivables.

(3)Represents CAF’s Tier 1 originations.

(4)Represents CAF’s Tier 2 and Tier 3 originations.

Allowance for Loan Losses


	As of February 28, 2023
(In millions)	Core		Other		Total		% (1)
Balance as of beginning of year	$	377.5	$	55.5	$	433.0	2.77
Charge-offs	(348.1)		(54.4)		(402.5)
Recoveries (2)	142.5		17.2		159.7
Provision for loan losses	229.6		87.4		317.0
Balance as of end of year	$	401.5	$	105.7	$	507.2	3.02


	As of February 28, 2022
(In millions)	Core		Other		Total		% (1)
Balance as of beginning of year	379.4		31.7		411.1		2.97
Charge-offs	(206.5)		(20.7)		(227.2)
Recoveries (2)	99.4		8.0		107.4
Provision for loan losses	105.2		36.5		141.7
Balance as of end of year	$	377.5	$	55.5	$	433.0	2.77

(1)Percent of total ending managed receivables.

(2)Net of costs incurred to recover vehicle.


	As of February 28, 2023
	Core Receivables								Other Receivables		Total
(In millions)	A		B		C & Other		Total		C & Other		$		% (1)
Current	$	8,450.3	$	5,540.2	$	1,612.3	$	15,602.8	$	327.6	$	15,930.4	95.00
Delinquent loans:
31-60 days past due	25.1		225.7		175.4		426.2		60.6		486.8		2.90
61-90 days past due	10.6		120.0		114.5		245.1		42.1		287.2		1.71
Greater than 90 days past due	3.9		27.7		23.5		55.1		8.4		63.5		0.39
Total past due	39.6		373.4		313.4		726.4		111.1		837.5		5.00
Total ending managed receivables	$	8,489.9	$	5,913.6	$	1,925.7	$	16,329.2	$	438.7	$	16,767.9	100.00


	As of February 28, 2022
	Core Receivables								Other Receivables		Total
(In millions)	A		B		C & Other		Total		C & Other		$		% (1)
Current	$	7,711.9	$	5,401.3	$	1,702.7	$	14,815.9	$	206.4	$	15,022.3	95.98
Delinquent loans:
31-60 days past due	25.4		173.3		160.4		359.1		33.0		392.1		2.50
61-90 days past due	9.2		75.6		85.2		170.0		19.1		189.1		1.21
Greater than 90 days past due	3.2		19.9		21.9		45.0		3.8		48.8		0.31
Total past due	37.8		268.8		267.5		574.1		55.9		630.0		4.02
Total ending managed receivables	$	7,749.7	$	5,670.1	$	1,970.2	$	15,390.0	$	262.3	$	15,652.3	100.00

(1)Percent of total ending managed receivables.