Subsequent Events

9 Months Ended

Sep. 30, 2021

Subsequent Events [Abstract]

Subsequent Events

NOTE 19 — SUBSEQUENT EVENTS

Investment in Root, Inc.

On October 1, 2021, the Company purchased a combination of convertible preferred stock and warrants to acquire Class A common stock of Root, Inc. (a publicly traded company listed on the Nasdaq Global Select Market under the trading symbol ROOT, "Root") for approximately $126 million.

Short-Term Revolving Facility

On October 15, 2021, the Company and a subsidiary entered into an agreement with a new lender pursuant to which the lender agreed to provide a $350 million revolving credit facility to fund certain automotive finance receivables originated by the Company. The Company can draw upon this facility until April 15, 2023. The facility requires monthly payments of interest

and fees based on usage and unused facility amounts. The subsidiary is a wholly-owned, special purpose entity whose assets are not available to the general creditors of the Company. The facility is self-amortizing from the end of the draw period until maturity, offers full prepayment rights, and has no credit sublimits or aging restrictions, subject to negotiated concentration limits.