Auto Loan Receivables (Tables)
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3 Months Ended |
May. 31, 2015 |
|---|
| Auto Loan Receivables [Abstract] |
|
| Auto Loan Receivables, Net |
|
|
|
|
|
|
|
|
|
|
As of May 31
|
As of February 28
|
|
(In millions)
|
|
2015
|
|
|
2015
|
|
|
Warehouse facilities
|
$
|
1,089.0
|
|
$
|
986.0
|
|
|
Term securitizations
|
|
7,485.8
|
|
|
7,226.5
|
|
|
Other receivables (1)
|
|
287.8
|
|
|
246.2
|
|
|
Total ending managed receivables
|
|
8,862.6
|
|
|
8,458.7
|
|
|
Accrued interest and fees
|
|
35.1
|
|
|
31.2
|
|
|
Other
|
|
(1.1)
|
|
|
27.3
|
|
|
Less allowance for loan losses
|
|
(83.7)
|
|
|
(81.7)
|
|
|
Auto loan receivables, net
|
$
|
8,812.9
|
|
$
|
8,435.5
|
|
(1)Other receivables includes receivables not funded through the warehouse facilities or term securitizations.
|
| Ending Managed Receivables By Major Credit Grade |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of May 31
|
|
As of February 28
|
|
(In millions)
|
|
|
2015 (1)
|
|
% (2)
|
|
|
2015 (1)
|
|
% (2)
|
|
A
|
|
$
|
4,301.7
|
|
48.5
|
|
$
|
4,135.6
|
|
48.9
|
|
B
|
|
|
3,201.2
|
|
36.1
|
|
|
3,055.3
|
|
36.1
|
|
C and other
|
|
|
1,359.7
|
|
15.4
|
|
|
1,267.8
|
|
15.0
|
|
Total ending managed receivables
|
|
$
|
8,862.6
|
|
100.0
|
|
$
|
8,458.7
|
|
100.0
|
(1)Classified based on credit grade assigned when customers were initially approved for financing.
(2)Percent of total ending managed receivables.
|
| Allowance For Loan Losses |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of May 31
|
|
(In millions)
|
|
|
2015
|
|
% (1)
|
|
|
2014
|
|
% (1)
|
|
Balance as of beginning of year
|
|
$
|
81.7
|
|
0.97
|
|
$
|
69.9
|
|
0.97
|
|
Charge-offs
|
|
|
(34.3)
|
|
|
|
|
(32.0)
|
|
|
|
Recoveries
|
|
|
22.7
|
|
|
|
|
21.7
|
|
|
|
Provision for loan losses
|
|
|
13.6
|
|
|
|
|
15.8
|
|
|
|
Balance as of end of period
|
|
$
|
83.7
|
|
0.94
|
|
$
|
75.4
|
|
1.00
|
(1)Percent of total ending managed receivables.
|
| Past Due Receivables |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of May 31
|
|
As of February 28
|
|
(In millions)
|
|
|
2015
|
|
% (1)
|
|
2015
|
% (1)
|
|
Total ending managed receivables
|
|
$
|
8,862.6
|
|
100.0
|
|
$
|
8,458.7
|
|
100.0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Delinquent loans:
|
|
|
|
|
|
|
|
|
|
|
|
31-60 days past due
|
|
$
|
161.1
|
|
1.8
|
|
$
|
152.1
|
|
1.8
|
|
61-90 days past due
|
|
|
56.1
|
|
0.6
|
|
|
52.5
|
|
0.6
|
|
Greater than 90 days past due
|
|
|
17.2
|
|
0.2
|
|
|
16.8
|
|
0.2
|
|
Total past due
|
|
$
|
234.4
|
|
2.6
|
|
$
|
221.4
|
|
2.6
|
(1)Percent of total ending managed receivable
|