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Securities Available for Sale (Tables)
 9 Months Ended
Sep. 30, 2018
Investments, Debt and Equity Securities [Abstract]  
Schedule of Available-for-sale Securities Reconciliation
The amortized cost, gross unrealized gains and losses, and fair value of securities available for sale as of September 30, 2018 and December 31, 2017, were as follows:
September 30, 2018
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
Securitized asset-backed senior securities (1)(2)
$
67,058

 
$
55

 
$
(58
)
 
$
67,055

CLUB Certificate asset-backed securities (1)
29,004

 
152

 
(110
)
 
29,046

Certificates of deposit
22,446

 
—

 
—

 
22,446

Securitized asset-backed subordinated residual certificates (1)
13,302

 
291

 
(15
)
 
13,578

Asset-backed securities
12,037

 
—

 
(1
)
 
12,036

Corporate debt securities
11,690

 
3

 
(3
)
 
11,690

Commercial paper
9,093

 
—

 
—

 
9,093

Other securities
498

 
—

 
—

 
498

Total securities available for sale
$
165,128

 
$
501

 
$
(187
)
 
$
165,442

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2017
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
Securitized asset-backed senior securities (1)
$
36,953

 
$
73

 
$
(6
)
 
$
37,020

Certificates of deposit
24,758

 
—

 
—

 
24,758

Corporate debt securities
16,268

 
1

 
(11
)
 
16,258

Asset-backed securities
14,843

 
1

 
(1
)
 
14,843

Commercial paper
14,665

 
—

 
—

 
14,665

Securitized asset-backed subordinated residual certificates (1)
8,262

 
—

 
(26
)
 
8,236

CLUB Certificate asset-backed securities (1)
1,796

 
11

 
(14
)
 
1,793

Total securities available for sale
$
117,545

 
$
86

 
$
(58
)
 
$
117,573


(1) 
As of September 30, 2018, and December 31, 2017, $108.0 million and $45.3 million, respectively, of the asset-backed securities related to structured program transactions at fair value are subject to restrictions on transfer pursuant to the Company's obligations as a “sponsor” under the U.S. Risk Retention Rules (as more fully described in “Part II. Other Information – Item 1A. Risk Factors – Risk retention rules and recent developments in our business may increase our compliance costs, impair our liquidity and otherwise adversely affect our operating results” in the Annual Report).
(2) 
Includes $24.7 million of securities pledged as collateral at fair value. See “Note 13. Debt” for further information.
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value
A summary of securities available for sale with unrealized losses as of September 30, 2018, and December 31, 2017, aggregated by period of continuous unrealized loss, is as follows:
 
Less than
12 months
 
12 months
or longer
 
Total
September 30, 2018
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
Asset-backed securities related to structured program transactions (1)
$
44,930

 
$
(183
)
 
$
—

 
$
—

 
$
44,930

 
$
(183
)
Asset-backed securities
5,796

 
(1
)
 
—

 
—

 
5,796

 
(1
)
Corporate debt securities
3,386

 
(3
)
 
—

 
—

 
3,386

 
(3
)
Other securities
498

 
—

 
—

 
—

 
498

 
—

Total securities with unrealized losses (2)
$
54,610

 
$
(187
)
 
$
—

 
$
—

 
$
54,610

 
$
(187
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Less than
12 months
 
12 months
or longer
 
Total
December 31, 2017
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
Asset-backed securities related to structured program transactions
$
26,534

 
$
(46
)
 
$
—

 
$
—

 
$
26,534

 
$
(46
)
Corporate debt securities
14,368

 
(11
)
 
—

 
—

 
14,368

 
(11
)
Asset-backed securities
4,401

 
(1
)
 
—

 
—

 
4,401

 
(1
)
Total securities with unrealized losses (2)
$
45,303

 
$
(58
)
 
$
—

 
$
—

 
$
45,303

 
$
(58
)
(1) 
Includes $24.7 million of securities pledged as collateral at fair value. See “Note 13. Debt” for further information.
(2) 
The number of investment positions with unrealized losses at September 30, 2018 and December 31, 2017 totaled 34 and 24, respectively.
Available-for-sale Securities by Contractual Maturity
The contractual maturities of securities available for sale at September 30, 2018, were as follows:
 
Fair Value
 
Amortized Cost
Within 1 year:
 
 
 
Certificates of deposit
$
22,446

 
$
22,446

Corporate debt securities
11,690

 
11,690

Asset-backed securities
10,536

 
10,537

Commercial paper
9,093

 
9,093

Other securities
498

 
498

Total
$
54,263

 
$
54,264

After 1 year through 5 years:
 
 
 
Asset-backed securities
$
1,500

 
$
1,500

Total
$
1,500

 
$
1,500

Asset-backed securities related to structured program transactions (1)
$
109,679

 
$
109,364

Total securities available for sale
$
165,442

 
$
165,128


(1) 
Includes $24.7 million of securities pledged as collateral at fair value. See “Note 13. Debt” for further information.