Finance Receivables and Obligations Collateralized by Finance Receivables (Tables)

3 Months Ended

Mar. 31, 2020

Financing Receivable, after Allowance for Credit Loss, Current [Abstract]

Schedule of quantitative information about delinquencies, credit losses less recoveries ("net credit losses") and components of securitized financial assets and other related assets managed

The following tables present quantitative information about delinquencies, credit loss charge-offs less recoveries ("net credit losses") and components of securitized financial assets and other related assets managed. For purposes of this illustration, delinquent receivables are defined as receivables 31 days or more past due.

	March 31, 2020				Net Credit Losses Three Months Ended March 31, 2020
	Total Amount of:
(in millions)	Receivables		Receivables Delinquent
Floorplan receivables	$	1,939.3	$	23.2	$	11.9
Other loans	15.5		—		—
Total receivables managed	$	1,954.8	$	23.2	$	11.9

	December 31, 2019				Net Credit Losses Three Months Ended March 31, 2019
	Total Amount of:
(in millions)	Receivables		Receivables Delinquent
Floorplan receivables	$	2,099.4	$	28.8	$	7.9
Other loans	15.8		—		—
Total receivables managed	$	2,115.2	$	28.8	$	7.9

Summary of the changes in the allowance for credit losses and doubtful accounts

The following is a summary of the changes in the allowance for credit losses related to finance receivables (in millions):

	March 31, 2020			March 31, 2019
Allowance for Credit Losses
Balance at beginning of period	$	15.0		$	14.0
Opening balance adjustment for adoption of ASC Topic 326	5.0			—
Provision for credit losses	16.9			8.2
Recoveries	1.9			2.3
Less charge-offs	(13.8		)	(10.2		)
Balance at end of period	$	25.0		$	14.3

Schedule of obligations collateralized by finance receivables

Obligations collateralized by finance receivables consisted of the following:

	March 31, 2020			December 31, 2019
Obligations collateralized by finance receivables, gross	$	1,361.4		$	1,474.4
Unamortized securitization issuance costs	(11.5		)	(13.2		)
Obligations collateralized by finance receivables	$	1,349.9		$	1,461.2