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CONSOLIDATED STATEMENTS OF CASH FLOWS
$ in Thousands
9 Months Ended
Sep. 30, 2025
USD ($)
Sep. 30, 2024
USD ($)
Cash flows from operating activities:    
Net cash provided by operating activities (Note 6) $ 416,903 $ 930,655
Cash flows from investing activities:    
Capital expenditures (102,090) (140,424)
Origination of finance receivables held for investment (2,287,369) (3,002,737)
Collections from finance receivables held for investment 2,459,406 2,657,149
Proceeds from sale of securitization beneficial interests, net 125,369 0
Collection of retained securitization beneficial interests 9,353 0
Other investing activities 808 (165)
Net cash used by investing activities 205,477 (486,177)
Cash flows from financing activities:    
Proceeds from issuance of medium-term notes 647,088 495,856
Repayments of medium-term notes (700,000) 0
Proceeds from term loan 448,013 0
Repayments of senior unsecured notes (450,000) 0
Proceeds from securitization debt 497,790 1,145,211
Repayments of securitization debt (718,034) (782,161)
Borrowings of asset-backed commercial paper 155,000 366,171
Repayments of asset-backed commercial paper (217,554) (195,709)
Net increase (decrease) in unsecured commercial paper 44,938 (387,392)
Net increase in deposits 3,312 100,737
Dividends paid (66,288) (69,454)
Repurchase of common stock (193,209) (359,810)
Other financing activities 1,269 11
Net cash (used) provided by financing activities (547,675) 313,460
Effect of exchange rate changes on cash, cash equivalents and restricted cash 11,009 198
Net increase in cash, cash equivalents and restricted cash 85,714 758,136
Cash, cash equivalents and restricted cash, beginning of period 1,740,854 1,648,811
Net increase in cash, cash equivalents and restricted cash 85,714 758,136
Cash, cash equivalents and restricted cash, end of period 1,826,568 2,406,947
Reconciliation of cash, cash equivalents and restricted cash on the Consolidated balance sheets to the Consolidated statements of cash flows:    
Cash and cash equivalents 1,775,038 2,243,910
Restricted cash 51,530 147,910
Restricted cash included in Other long-term assets 0 15,127
Cash, cash equivalents and restricted cash per the Consolidated statements of cash flows $ 1,826,568 $ 2,406,947