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Auto Loan Receivables (Tables)
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3 Months Ended |
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May 31, 2014
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| Auto Loan Receivables [Abstract] |
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| Auto Loan Receivables, Net |
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As of May 31
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As of February 28
|
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(In millions)
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|
2014
|
|
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2014
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|
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Warehouse facilities
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$
|
964.0
|
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$
|
879.0
|
|
|
Term securitizations
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6,409.0
|
|
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6,145.5
|
|
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Other receivables (1)
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|
200.8
|
|
|
159.9
|
|
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Total ending managed receivables
|
|
7,573.8
|
|
|
7,184.4
|
|
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Accrued interest and fees
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31.2
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|
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26.3
|
|
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Other
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18.1
|
|
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7.0
|
|
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Less allowance for loan losses
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(75.4)
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|
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(69.9)
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|
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Auto loan receivables, net
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$
|
7,547.7
|
|
$
|
7,147.8
|
|
(1)Other receivables includes receivables not funded through the warehouse facilities or term securitizations.
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| Ending Managed Receivables By Major Credit Grade |
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As of May 31
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As of February 28
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(In millions)
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2014 (1)
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% (2)
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2014 (1)
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% (2)
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A
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$
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3,698.6
|
|
48.8
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$
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3,506.0
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48.8
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B
|
|
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2,786.9
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|
36.8
|
|
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2,658.5
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37.0
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C and other
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|
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1,088.3
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14.4
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|
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1,019.9
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14.2
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Total ending managed receivables
|
|
$
|
7,573.8
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|
100.0
|
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$
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7,184.4
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|
100.0
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(1)Classified based on credit grade assigned when customers were initially approved for financing.
(2)Percentage of total ending managed receivables.
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| Allowance For Loan Losses |
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Three Months Ended May 31
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(In millions)
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2014
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% (1)
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2013
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% (1)
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Balance as of beginning of year
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$
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69.9
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0.97
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$
|
57.3
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|
0.97
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Charge-offs
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(32.0)
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|
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(26.4)
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Recoveries
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21.7
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18.7
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Provision for loan losses
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|
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15.8
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11.3
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|
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Balance as of end of period
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$
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75.4
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1.00
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$
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60.9
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0.96
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(1)Percentage of total ending managed receivables as of the corresponding reporting date.
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| Past Due Receivables |
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As of May 31
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As of February 28
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(In millions)
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|
|
2014
|
|
% (1)
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2014
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% (1)
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Total ending managed receivables
|
|
$
|
7,573.8
|
|
100.0
|
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$
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7,184.4
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|
100.0
|
|
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Delinquent loans:
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31-60 days past due
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$
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133.5
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1.7
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$
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126.6
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1.8
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61-90 days past due
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|
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42.4
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0.6
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|
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42.6
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0.6
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Greater than 90 days past due
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14.2
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0.2
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16.0
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0.2
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Total past due
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$
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190.1
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|
2.5
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$
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185.2
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2.6
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(1)Percentage of total ending managed receivable
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