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STATEMENTS OF COMPREHENSIVE INCOME AND RETAINED EARNINGS - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Income Statement [Abstract]        
Interest and fee income $ 160.9 $ 112.1 $ 308.0 $ 212.7
Operating lease and rental revenues 42.4 62.0 94.7 131.9
Used truck sales and other revenues 5.7 4.7 17.5 11.7
TOTAL INTEREST AND OTHER REVENUES 209.0 178.8 420.2 356.3
Interest and other borrowing costs 97.8 64.1 187.5 117.2
Depreciation and other rental expenses 41.5 43.5 89.1 91.7
Cost of used truck sales and other expenses 5.6 3.4 17.1 8.6
Selling, general and administrative expenses 18.0 16.0 35.2 31.6
Provision for losses on receivables 6.1 0.8 13.2 1.4
TOTAL EXPENSES 169.0 127.8 342.1 250.5
INCOME BEFORE INCOME TAXES 40.0 51.0 78.1 105.8
Income taxes 10.0 12.7 18.9 26.4
NET INCOME 30.0 38.3 59.2 79.4
COMPREHENSIVE INCOME 29.3 45.0 60.4 77.9
RETAINED EARNINGS AT BEGINNING OF PERIOD 1,682.3 1,604.7 1,703.1 [1] 1,813.6
RETAINED EARNINGS AT END OF PERIOD $ 1,712.3 $ 1,643.0 $ 1,712.3 $ 1,643.0
[1] The December 31, 2023 balance sheet has been derived from audited financial statements.