XML 41 R7.htm IDEA: XBRL DOCUMENT v3.20.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash Flows From Operating Activities:    
Net income (loss) $ (83.8) $ 164.4
Adjustments to reconcile cash provided by operating activities:    
Provision for credit losses 354.7 14.5
Depreciation 1.8 1.5
Amortization 3.7 3.6
Provision (benefit) for deferred income taxes (37.5) 19.5
Stock-based compensation 1.8 2.2
Loss on Extinguishment of Debt 7.4 0.0
Other (0.2) (0.1)
Change in operating assets and liabilities:    
Increase (decrease) in accounts payable and accrued liabilities (35.5) (2.6)
Increase in income taxes receivable 6.6 0.4
Decrease in income taxes payable 0.0 18.9
Decrease in other assets 12.3 7.4
Net cash provided by operating activities 231.3 229.7
Cash Flows From Investing Activities:    
Purchases of restricted securities available for sale (16.0) (15.4)
Proceeds from Sale of Debt Securities, Available-for-sale 8.1 9.4
Maturities of restricted securities available for sale 4.0 3.4
Principal collected on Loans receivable 815.3 757.4
Advances to Dealers (638.1) (719.0)
Purchases of Consumer Loans (417.2) (386.4)
Accelerated payments of Dealer Holdback (11.4) (12.3)
Payments of Dealer Holdback (36.6) (34.6)
Purchases of property and equipment (4.4) (4.7)
Net cash used in investing activities (296.3) (402.2)
Cash Flows From Financing Activities:    
Borrowings under revolving secured line of credit 1,121.8 1,066.9
Repayments under revolving secured line of credit (1,041.9) (1,238.8)
Proceeds from secured financing 1,115.9 814.0
Repayments of secured financing (497.1) (625.9)
Proceeds from issuance of senior notes 0.0 400.0
Repayment of senior notes 401.8 0.0
Payments of debt issuance costs and debt extinguishment costs (8.5) (8.9)
Repurchase of common stock (307.1) (109.2)
Other (0.2) 4.3
Net cash provided by financing activities (18.9) 302.4
Net increase in cash and cash equivalents and restricted cash and cash equivalents (83.9) 129.9
Cash and cash equivalents and restricted cash and cash equivalents beginning of period 517.7 329.3
Cash and cash equivalents and restricted cash and cash equivalents end of period 433.8 459.2
Supplemental Disclosure of Cash Flow Information:    
Cash paid during the period for interest 58.2 48.8
Cash paid during the period for income taxes $ 0.8 $ 1.8