$CACC
CREDIT ACCEPTANCE CORP

2014 Q2 Form 10-Q Financial Statement

#000088555014000054 Filed on July 30, 2014

View on sec.gov

Income Statement

Concept 2014 Q2 2013 Q2
Revenue $179.8M $169.4M
YoY Change 6.14% 11.59%
Cost Of Revenue $11.00M $10.50M
YoY Change 4.76%
Gross Profit $168.8M $158.9M
YoY Change 6.23%
Gross Profit Margin 93.88% 93.8%
Selling, General & Admin $17.30M $16.80M
YoY Change 2.98% -52.27%
% of Gross Profit 10.25% 10.57%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $3.200M $3.100M
YoY Change 3.23% 3.33%
% of Gross Profit 1.9% 1.95%
Operating Expenses $17.30M $16.80M
YoY Change 2.98% -64.26%
Operating Profit $151.5M $142.1M
YoY Change 6.62%
Interest Expense $13.30M $16.20M
YoY Change -17.9% -203.85%
% of Operating Profit 8.78% 11.4%
Other Income/Expense, Net
YoY Change
Pretax Income $109.2M $97.40M
YoY Change 12.11% 9.19%
Income Tax $39.80M $35.90M
% Of Pretax Income 36.45% 36.86%
Net Earnings $69.40M $61.50M
YoY Change 12.85% 8.66%
Net Earnings / Revenue 38.6% 36.3%
Basic Earnings Per Share $3.06 $2.57
Diluted Earnings Per Share $3.06 $2.56
COMMON SHARES
Basic Shares Outstanding 22.65M shares 23.97M shares
Diluted Shares Outstanding 22.66M shares 24.02M shares

Balance Sheet

Concept 2014 Q2 2013 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $6.700M $9.000M
YoY Change -25.56% 73.08%
Cash & Equivalents $4.300M $9.000M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $8.300M $9.800M
YoY Change -15.31% 71.93%
LONG-TERM ASSETS
Property, Plant & Equipment $23.00M $22.40M
YoY Change 2.68% 1.82%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $211.2M $164.4M
YoY Change 28.47% 11.31%
Total Long-Term Assets $2.619B $2.306B
YoY Change 13.61% 15.44%
TOTAL ASSETS
Total Short-Term Assets $8.300M $9.800M
Total Long-Term Assets $2.619B $2.306B
Total Assets $2.628B $2.315B
YoY Change 13.49% 15.6%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $110.1M $112.3M
YoY Change -1.96% -40.96%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $150.8M
YoY Change -100.0% 1051.15%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $112.8M $263.7M
YoY Change -57.22% 26.05%
LONG-TERM LIABILITIES
Long-Term Debt $1.655B $1.256B
YoY Change 31.7% 12.29%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $1.655B $1.256B
YoY Change 31.7% 12.29%
TOTAL LIABILITIES
Total Short-Term Liabilities $112.8M $263.7M
Total Long-Term Liabilities $1.655B $1.256B
Total Liabilities $1.955B $1.661B
YoY Change 17.66% 13.59%
SHAREHOLDERS EQUITY
Retained Earnings $591.5M
YoY Change
Common Stock $81.30M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $672.8M $653.9M
YoY Change
Total Liabilities & Shareholders Equity $2.628B $2.315B
YoY Change 13.49% 15.6%

Cashflow Statement

Concept 2014 Q2 2013 Q2
OPERATING ACTIVITIES
Net Income $69.40M $61.50M
YoY Change 12.85% 8.66%
Depreciation, Depletion And Amortization $3.200M $3.100M
YoY Change 3.23% 3.33%
Cash From Operating Activities $80.80M $59.80M
YoY Change 35.12% -4.01%
INVESTING ACTIVITIES
Capital Expenditures -$1.200M -$1.800M
YoY Change -33.33% -14.29%
Acquisitions
YoY Change
Other Investing Activities -$56.90M -$70.40M
YoY Change -19.18% 43.09%
Cash From Investing Activities -$58.10M -$72.20M
YoY Change -19.53% 40.74%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -21.60M 13.60M
YoY Change -258.82% -227.1%
NET CHANGE
Cash From Operating Activities 80.80M 59.80M
Cash From Investing Activities -58.10M -72.20M
Cash From Financing Activities -21.60M 13.60M
Net Change In Cash 1.100M 1.200M
YoY Change -8.33% 300.0%
FREE CASH FLOW
Cash From Operating Activities $80.80M $59.80M
Capital Expenditures -$1.200M -$1.800M
Free Cash Flow $82.00M $61.60M
YoY Change 33.12% -4.35%

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6 dealer
CY2014Q1 us-gaap Loans And Leases Receivable Net Of Deferred Income
LoansAndLeasesReceivableNetOfDeferredIncome
2518100000 USD
us-gaap Nature Of Operations
NatureOfOperations
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">DESCRIPTION OF BUSINESS</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Since 1972, Credit Acceptance has offered automobile dealers financing programs that enable them to sell vehicles to consumers, regardless of their credit history.&#160;&#160;Our financing programs are offered through a nationwide network of automobile dealers who benefit from sales of vehicles to consumers who otherwise could not obtain financing; from repeat and referral sales generated by these same customers; and from sales to customers responding to advertisements for our product, but who actually end up qualifying for traditional financing.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We refer to automobile dealers who participate in our programs and who share our commitment to changing consumers&#8217; lives as &#8220;Dealers&#8221;.&#160;&#160;Upon enrollment in our financing programs, the Dealer enters into a Dealer servicing agreement with us that defines the legal relationship between Credit Acceptance and the Dealer.&#160;&#160;The Dealer servicing agreement assigns the responsibilities for administering, servicing, and collecting the amounts due on retail installment contracts (referred to as &#8220;Consumer Loans&#8221;) from the Dealers to us.&#160;&#160;We are an indirect lender from a legal perspective, meaning the Consumer Loan is originated by the Dealer and assigned to us.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We have </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">two</font><font style="font-family:inherit;font-size:10pt;"> programs: the Portfolio Program and the Purchase Program.&#160;&#160;Under the Portfolio Program, we advance money to Dealers (referred to as a &#8220;Dealer Loan&#8221;) in exchange for the right to service the underlying Consumer Loans.&#160;&#160;Under the Purchase Program, we buy the Consumer Loans from the Dealers (referred to as a &#8220;Purchased Loan&#8221;) and keep all amounts collected from the consumer.&#160;&#160;Dealer Loans and Purchased Loans are collectively referred to as &#8220;Loans&#8221;.&#160;&#160;The following table shows the percentage of Consumer Loans assigned to us based on unit volumes under each of the programs for each of the last six quarters:</font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:99.80506822612085%;border-collapse:collapse;text-align:left;"><tr><td colspan="7" rowspan="1"></td></tr><tr><td width="70%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="13%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="13%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Quarter Ended</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Portfolio Program</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:2px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Purchase Program</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">March 31, 2013</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">94.4</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">%</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">5.6</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">%</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">June 30, 2013</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">93.9</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">%</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6.1</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">%</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">September 30, 2013</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">92.9</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">%</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">7.1</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">%</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">December 31, 2013</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">92.4</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">%</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">7.6</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">%</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">March 31, 2014</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">91.7</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">%</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">8.3</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">%</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">June 30, 2014</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">91.4</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">%</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">8.6</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">%</font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Portfolio Program</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">As payment for the vehicle, the Dealer generally receives the following:</font></div><div style="line-height:120%;padding-left:4px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:61px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:37px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">a down payment from the consumer;</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:61px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:37px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">a non-recourse cash payment (&#8220;advance&#8221;) from us; and</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:61px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:37px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">after the advance has been recovered by us, the cash from payments made on the Consumer Loan, net of certain collection costs and our servicing fee (&#8220;Dealer Holdback&#8221;).</font></div></td></tr></table><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We record the amount advanced to the Dealer as a Dealer Loan, which is classified within Loans receivable in our consolidated balance sheets.&#160;&#160;Cash advanced to the Dealer is automatically assigned to the Dealer&#8217;s open pool of advances.&#160;&#160;We generally require Dealers to group advances into pools of at least </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">100</font><font style="font-family:inherit;font-size:10pt;"> Consumer Loans.&#160;&#160;At the Dealer&#8217;s option, a pool containing at least </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">100</font><font style="font-family:inherit;font-size:10pt;"> Consumer Loans can be closed and subsequent advances assigned to a new pool.&#160;&#160;All advances within a Dealer&#8217;s pool are secured by the future collections on the related Consumer Loans assigned to the pool.&#160;&#160;For Dealers with more than one pool, the pools are cross-collateralized so the performance of other pools is considered in determining eligibility for Dealer Holdback.&#160;&#160;We perfect our security interest in the Dealer Loans by taking possession of the Consumer Loans, which list us as lien holder on the vehicle title.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Dealer servicing agreement provides that collections received by us during a calendar month on Consumer Loans assigned by a Dealer are applied on a pool-by-pool basis as follows:</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:61px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:37px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">First, to reimburse us for certain collection costs;</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:61px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:37px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Second, to pay us our servicing fee, which generally equals </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">20%</font><font style="font-family:inherit;font-size:10pt;"> of collections;</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:61px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:37px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Third, to reduce the aggregate advance balance and to pay any other amounts due from the Dealer to us; and</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:61px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:37px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Fourth, to the Dealer as payment of Dealer Holdback.</font></div></td></tr></table><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">If the collections on Consumer Loans from a Dealer&#8217;s pool are not sufficient to repay the advance balance and any other amounts due to us, the Dealer will not receive Dealer Holdback.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Dealers have an opportunity to receive an accelerated Dealer Holdback payment each time </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">100</font><font style="font-family:inherit;font-size:10pt;"> Consumer Loans have been assigned to us.&#160;&#160;The amount paid to the Dealer is calculated using a formula that considers the forecasted collections and the advance balance on the related Consumer Loans.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Since typically the combination of the advance and the consumer&#8217;s down payment provides the Dealer with a cash profit at the time of sale, the Dealer&#8217;s risk in the Consumer Loan is limited.&#160;&#160;We cannot demand repayment of the advance from the Dealer except in the event the Dealer is in default of the Dealer servicing agreement.&#160;&#160;Advances are made only after the consumer and Dealer have signed a Consumer Loan contract, we have received the original Consumer Loan contract and supporting documentation, and we have approved all of the related stipulations for funding.&#160;&#160;The Dealer can also opt to repurchase Consumer Loans that have been assigned to us under the Portfolio Program, at their discretion, for a fee.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">For accounting purposes, the transactions described under the Portfolio Program are not considered to be loans to consumers.&#160;&#160;Instead, our accounting reflects that of a lender to the Dealer.&#160;&#160;The classification as a Dealer Loan for accounting purposes is primarily a result of (1) the Dealer&#8217;s financial interest in the Consumer Loan and (2) certain elements of our legal relationship with the Dealer.</font></div><div style="line-height:120%;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Purchase Program</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Purchase Program differs from our Portfolio Program in that the Dealer receives a one-time payment from us at the time of assignment to purchase the Consumer Loan instead of a cash advance at the time of assignment and future Dealer Holdback payments.&#160;&#160;For accounting purposes, the transactions described under the Purchase Program are considered to be originated by the Dealer and then purchased by us.</font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Program Enrollment</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Dealers may enroll in our program by (1) paying an up-front, one-time fee of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$9,850</font><font style="font-family:inherit;font-size:10pt;">, or (2) agreeing to allow us to retain </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">50%</font><font style="font-family:inherit;font-size:10pt;"> of their first accelerated Dealer Holdback payment.&#160;&#160;Dealers are granted access to the Portfolio Program upon enrollment.&#160;&#160;Access to the Purchase Program is limited and is typically only granted to Dealers that either have received their first accelerated Dealer Holdback payment under the Portfolio Program or are franchise dealerships.</font></div></div>
CY2013Q4 us-gaap Loans And Leases Receivable Net Reported Amount
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2212800000 USD
CY2014Q2 us-gaap Loans And Leases Receivable Net Reported Amount
LoansAndLeasesReceivableNetReportedAmount
2358000000 USD
CY2013Q4 us-gaap Loans Receivable Fair Value Disclosure
LoansReceivableFairValueDisclosure
2226700000 USD
CY2013Q1 us-gaap Loans And Leases Receivable Net Of Deferred Income
LoansAndLeasesReceivableNetOfDeferredIncome
2210300000 USD
CY2014Q2 us-gaap Loans Receivable Fair Value Disclosure
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2369100000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
58900000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
32200000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-204000000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-199600000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
140700000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
174300000 USD
CY2013Q2 us-gaap Net Income Loss
NetIncomeLoss
61500000 USD
us-gaap Net Income Loss
NetIncomeLoss
119200000 USD
CY2014Q2 us-gaap Net Income Loss
NetIncomeLoss
69400000 USD
us-gaap Net Income Loss
NetIncomeLoss
122100000 USD
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
CY2013Q4 us-gaap Other Assets
OtherAssets
28100000 USD
CY2014Q2 us-gaap Other Assets
OtherAssets
27100000 USD
CY2014Q2 us-gaap Other Borrowings
OtherBorrowings
0 USD
CY2013Q4 us-gaap Other Borrowings
OtherBorrowings
3800000 USD
CY2013Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-200000 USD
CY2014Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
100000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-100000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
200000 USD
CY2014Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
100000 USD
CY2013Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-200000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-100000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
200000 USD
CY2013Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
-100000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
0 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
0 USD
CY2014Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
0 USD
CY2013Q2 us-gaap Other Income
OtherIncome
9000000 USD
CY2014Q2 us-gaap Other Income
OtherIncome
8300000 USD
us-gaap Other Income
OtherIncome
19200000 USD
us-gaap Other Income
OtherIncome
18800000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
218700000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
95900000 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
2900000 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
25800000 USD
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
47100000 USD
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
49900000 USD
us-gaap Payments To Acquire Loans Receivable
PaymentsToAcquireLoansReceivable
56300000 USD
us-gaap Payments To Acquire Loans Receivable
PaymentsToAcquireLoansReceivable
94000000 USD
CY2013Q2 us-gaap Policyholder Benefits And Claims Incurred Net
PolicyholderBenefitsAndClaimsIncurredNet
10500000 USD
us-gaap Policyholder Benefits And Claims Incurred Net
PolicyholderBenefitsAndClaimsIncurredNet
19500000 USD
CY2014Q2 us-gaap Policyholder Benefits And Claims Incurred Net
PolicyholderBenefitsAndClaimsIncurredNet
11000000 USD
us-gaap Policyholder Benefits And Claims Incurred Net
PolicyholderBenefitsAndClaimsIncurredNet
22000000 USD
CY2014Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2013Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2014Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2013Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2014Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2013Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2014Q2 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2013Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2013Q2 us-gaap Premiums Earned Net
PremiumsEarnedNet
12900000 USD
CY2014Q2 us-gaap Premiums Earned Net
PremiumsEarnedNet
13600000 USD
us-gaap Premiums Earned Net
PremiumsEarnedNet
24900000 USD
us-gaap Premiums Earned Net
PremiumsEarnedNet
26800000 USD
us-gaap Proceeds From Collection Of Loans Receivable
ProceedsFromCollectionOfLoansReceivable
790400000 USD
us-gaap Proceeds From Collection Of Loans Receivable
ProceedsFromCollectionOfLoansReceivable
677900000 USD
CY2014Q2 us-gaap Proceeds From Collection Of Loans Receivable
ProceedsFromCollectionOfLoansReceivable
381700000 USD
CY2013Q2 us-gaap Proceeds From Collection Of Loans Receivable
ProceedsFromCollectionOfLoansReceivable
332400000 USD
us-gaap Proceeds From Collection Of Other Receivables
ProceedsFromCollectionOfOtherReceivables
-500000 USD
us-gaap Proceeds From Collection Of Other Receivables
ProceedsFromCollectionOfOtherReceivables
-400000 USD
us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
921600000 USD
us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
646500000 USD
us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
0 USD
us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
300000000 USD
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
1347000000 USD
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
1559800000 USD
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
41000000 USD
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
37200000 USD
us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
9000000 USD
us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
7200000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
600000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
300000 USD
CY2014Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
23000000 USD
CY2013Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
22300000 USD
CY2013Q2 us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
5400000 USD
us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
11200000 USD
CY2014Q2 us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
4600000 USD
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
1343600000 USD
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
1452500000 USD
us-gaap Repayments Of Other Debt
RepaymentsOfOtherDebt
100000 USD
us-gaap Repayments Of Other Debt
RepaymentsOfOtherDebt
3800000 USD
CY2014Q2 us-gaap Repayments Of Other Debt
RepaymentsOfOtherDebt
3600000 USD
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
597200000 USD
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
608700000 USD
us-gaap Repayments Of Senior Debt
RepaymentsOfSeniorDebt
0 USD
us-gaap Repayments Of Senior Debt
RepaymentsOfSeniorDebt
350000000 USD
CY2013Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
111300000 USD
CY2014Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
156600000 USD
CY2013Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
686900000 USD
CY2014Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
591500000 USD
us-gaap Revenues
Revenues
356700000 USD
CY2013Q2 us-gaap Revenues
Revenues
169400000 USD
CY2014Q2 us-gaap Revenues
Revenues
179800000 USD
us-gaap Revenues
Revenues
334100000 USD
CY2013Q4 us-gaap Secured Debt
SecuredDebt
935600000 USD
CY2014Q2 us-gaap Secured Debt
SecuredDebt
1248500000 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
18400000 USD
CY2014Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
8800000 USD
CY2013Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
8500000 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
17500000 USD
CY2014Q2 us-gaap Senior Long Term Notes
SeniorLongTermNotes
300000000 USD
CY2013Q4 us-gaap Senior Long Term Notes
SeniorLongTermNotes
350200000 USD
CY2014Q2 us-gaap Share Based Compensation
ShareBasedCompensation
3400000 USD
CY2013Q2 us-gaap Share Based Compensation
ShareBasedCompensation
3200000 USD
CY2014Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
7500 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
7500 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
130.16
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
130.16
CY2014Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Granted
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted
0 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Granted
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted
71900 shares
CY2014Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
862682 shares
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
1099157 shares
CY2014Q2 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
324456 shares
CY2013Q2 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
326629 shares
CY2014Q2 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
915750 shares
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
1691046 shares
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
863683 shares
CY2014Q2 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
115100000 USD
CY2013Q2 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
36200000 USD
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
95900000 USD
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
218700000 USD
CY2014Q2 us-gaap Stockholders Equity
StockholdersEquity
672800000 USD
CY2013Q4 us-gaap Stockholders Equity
StockholdersEquity
750100000 USD
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
24220403 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
23157289 shares
CY2014Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
22658891 shares
CY2013Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
24017273 shares
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
22356299 shares
CY2013Q2 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
23293173 shares
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
23491872 shares
CY2014Q2 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
22167771 shares
CY2013Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
23974099 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
24151080 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
23122288 shares
CY2014Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
22653393 shares
us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
765989 shares
CY2013Q2 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
680926 shares
CY2014Q2 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
485622 shares
us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
659208 shares
cacc Accelerated Payments Of Dealer Holdback
AcceleratedPaymentsOfDealerHoldback
21900000 USD
cacc Accelerated Payments Of Dealer Holdback
AcceleratedPaymentsOfDealerHoldback
20400000 USD
CY2014Q2 cacc Accelerated Payments Of Dealer Holdback
AcceleratedPaymentsOfDealerHoldback
10700000 USD
CY2013Q2 cacc Accelerated Payments Of Dealer Holdback
AcceleratedPaymentsOfDealerHoldback
10900000 USD
cacc Advances To Dealers
AdvancesToDealers
760700000 USD
cacc Advances To Dealers
AdvancesToDealers
712700000 USD
CY2013Q4 cacc Available For Sale Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
0 USD
CY2014Q2 cacc Available For Sale Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
0 USD
CY2013Q4 cacc Available For Sale Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
300000 USD
CY2014Q2 cacc Available For Sale Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
100000 USD
CY2013Q4 cacc Availableforsale Securities Continuous Unrealized Loss Position12 Monthsor Longer Accumulated Loss
AvailableforsaleSecuritiesContinuousUnrealizedLossPosition12MonthsorLongerAccumulatedLoss
0 USD
CY2014Q2 cacc Availableforsale Securities Continuous Unrealized Loss Position12 Monthsor Longer Accumulated Loss
AvailableforsaleSecuritiesContinuousUnrealizedLossPosition12MonthsorLongerAccumulatedLoss
100000 USD
CY2013Q4 cacc Availableforsale Securities Continuous Unrealized Loss Position Accumulated Loss
AvailableforsaleSecuritiesContinuousUnrealizedLossPositionAccumulatedLoss
300000 USD
CY2014Q2 cacc Availableforsale Securities Continuous Unrealized Loss Position Accumulated Loss
AvailableforsaleSecuritiesContinuousUnrealizedLossPositionAccumulatedLoss
100000 USD
CY2013Q4 cacc Availableforsale Securities Continuous Unrealized Loss Position Lessthan12 Months Accumulated Loss
AvailableforsaleSecuritiesContinuousUnrealizedLossPositionLessthan12MonthsAccumulatedLoss
300000 USD
CY2014Q2 cacc Availableforsale Securities Continuous Unrealized Loss Position Lessthan12 Months Accumulated Loss
AvailableforsaleSecuritiesContinuousUnrealizedLossPositionLessthan12MonthsAccumulatedLoss
0 USD
CY2014Q2 cacc Certain Loans Acquired In Transfer Accounted For As Loans Accretable Yield
CertainLoansAcquiredInTransferAccountedForAsLoansAccretableYield
834100000 USD
CY2013Q4 cacc Certain Loans Acquired In Transfer Accounted For As Loans Accretable Yield
CertainLoansAcquiredInTransferAccountedForAsLoansAccretableYield
780300000 USD
CY2013Q2 cacc Certain Loans Acquired In Transfer Accounted For As Loans Accretable Yield
CertainLoansAcquiredInTransferAccountedForAsLoansAccretableYield
766100000 USD
CY2012Q4 cacc Certain Loans Acquired In Transfer Accounted For As Loans Accretable Yield
CertainLoansAcquiredInTransferAccountedForAsLoansAccretableYield
718100000 USD
CY2013Q1 cacc Certain Loans Acquired In Transfer Accounted For As Loans Accretable Yield
CertainLoansAcquiredInTransferAccountedForAsLoansAccretableYield
754400000 USD
CY2014Q1 cacc Certain Loans Acquired In Transfer Accounted For As Loans Accretable Yield
CertainLoansAcquiredInTransferAccountedForAsLoansAccretableYield
826400000 USD
CY2014Q2 cacc Certain Loans Acquired In Transfer Accounted For As Loans Accretable Yield Additions
CertainLoansAcquiredInTransferAccountedForAsLoansAccretableYieldAdditions
153300000 USD
cacc Certain Loans Acquired In Transfer Accounted For As Loans Accretable Yield Additions
CertainLoansAcquiredInTransferAccountedForAsLoansAccretableYieldAdditions
344100000 USD
cacc Certain Loans Acquired In Transfer Accounted For As Loans Accretable Yield Additions
CertainLoansAcquiredInTransferAccountedForAsLoansAccretableYieldAdditions
322300000 USD
CY2013Q2 cacc Certain Loans Acquired In Transfer Accounted For As Loans Accretable Yield Additions
CertainLoansAcquiredInTransferAccountedForAsLoansAccretableYieldAdditions
147000000 USD
CY2013Q2 cacc Certain Loans Acquired In Transfer Accounted For As Loans Accretable Yield Reclassifications From Nonaccretable Difference
CertainLoansAcquiredInTransferAccountedForAsLoansAccretableYieldReclassificationsFromNonaccretableDifference
11200000 USD
cacc Certain Loans Acquired In Transfer Accounted For As Loans Accretable Yield Reclassifications From Nonaccretable Difference
CertainLoansAcquiredInTransferAccountedForAsLoansAccretableYieldReclassificationsFromNonaccretableDifference
14000000 USD
cacc Certain Loans Acquired In Transfer Accounted For As Loans Accretable Yield Reclassifications From Nonaccretable Difference
CertainLoansAcquiredInTransferAccountedForAsLoansAccretableYieldReclassificationsFromNonaccretableDifference
17800000 USD
CY2014Q2 cacc Certain Loans Acquired In Transfer Accounted For As Loans Accretable Yield Reclassifications From Nonaccretable Difference
CertainLoansAcquiredInTransferAccountedForAsLoansAccretableYieldReclassificationsFromNonaccretableDifference
11100000 USD
cacc Certain Loans Acquired In Transfer Accounted For As Loans Accretable Yield Transfers
CertainLoansAcquiredInTransferAccountedForAsLoansAccretableYieldTransfers
2600000 USD
CY2013Q2 cacc Certain Loans Acquired In Transfer Accounted For As Loans Accretable Yield Transfers
CertainLoansAcquiredInTransferAccountedForAsLoansAccretableYieldTransfers
1000000 USD
cacc Certain Loans Acquired In Transfer Accounted For As Loans Accretable Yield Transfers
CertainLoansAcquiredInTransferAccountedForAsLoansAccretableYieldTransfers
2100000 USD
CY2014Q2 cacc Certain Loans Acquired In Transfer Accounted For As Loans Accretable Yield Transfers
CertainLoansAcquiredInTransferAccountedForAsLoansAccretableYieldTransfers
1200000 USD
CY2014Q2 cacc Debt Instrument Covenant Net Income For Past Two Quarters
DebtInstrumentCovenantNetIncomeForPastTwoQuarters
1 USD
CY2013Q2 cacc Dilutive Securities Restricted Stock And Restricted Stock Units
DilutiveSecuritiesRestrictedStockAndRestrictedStockUnits
5360 shares
cacc Dilutive Securities Restricted Stock And Restricted Stock Units
DilutiveSecuritiesRestrictedStockAndRestrictedStockUnits
30787 shares
cacc Dilutive Securities Restricted Stock And Restricted Stock Units
DilutiveSecuritiesRestrictedStockAndRestrictedStockUnits
28355 shares
CY2014Q2 cacc Dilutive Securities Restricted Stock And Restricted Stock Units
DilutiveSecuritiesRestrictedStockAndRestrictedStockUnits
5498 shares
cacc Loans And Leases Receivable Transfers
LoansAndLeasesReceivableTransfers
USD
cacc Loans And Leases Receivable Transfers
LoansAndLeasesReceivableTransfers
USD
CY2014Q2 cacc Loans And Leases Receivable Transfers
LoansAndLeasesReceivableTransfers
USD
CY2013Q2 cacc Loans And Leases Receivable Transfers
LoansAndLeasesReceivableTransfers
USD
cacc Loans Receivable Contractual Net Cash Flows At Assignment
LoansReceivableContractualNetCashFlowsAtAssignment
1198500000 USD
CY2013Q2 cacc Loans Receivable Contractual Net Cash Flows At Assignment
LoansReceivableContractualNetCashFlowsAtAssignment
565100000 USD
CY2014Q2 cacc Loans Receivable Contractual Net Cash Flows At Assignment
LoansReceivableContractualNetCashFlowsAtAssignment
599800000 USD
cacc Loans Receivable Contractual Net Cash Flows At Assignment
LoansReceivableContractualNetCashFlowsAtAssignment
1342100000 USD
CY2014Q2 cacc Loans Receivable Expected Net Cash Flows At Assignment
LoansReceivableExpectedNetCashFlowsAtAssignment
535600000 USD
cacc Loans Receivable Expected Net Cash Flows At Assignment
LoansReceivableExpectedNetCashFlowsAtAssignment
1198800000 USD
CY2013Q2 cacc Loans Receivable Expected Net Cash Flows At Assignment
LoansReceivableExpectedNetCashFlowsAtAssignment
509500000 USD
cacc Loans Receivable Expected Net Cash Flows At Assignment
LoansReceivableExpectedNetCashFlowsAtAssignment
1091300000 USD
CY2014Q2 cacc Loans Receivable Fair Value Of Net Cash Flows At Assignment
LoansReceivableFairValueOfNetCashFlowsAtAssignment
382300000 USD
cacc Loans Receivable Fair Value Of Net Cash Flows At Assignment
LoansReceivableFairValueOfNetCashFlowsAtAssignment
854700000 USD
CY2013Q2 cacc Loans Receivable Fair Value Of Net Cash Flows At Assignment
LoansReceivableFairValueOfNetCashFlowsAtAssignment
362500000 USD
cacc Loans Receivable Fair Value Of Net Cash Flows At Assignment
LoansReceivableFairValueOfNetCashFlowsAtAssignment
769000000 USD
CY2014Q2 cacc Maximum Hedging Reserve
MaximumHedgingReserve
1000000 USD
cacc Monthly Servicing Fee Per Financing
MonthlyServicingFeePerFinancing
0.06
cacc New Consumer Loan Assignments
NewConsumerLoanAssignments
854700000 USD
cacc New Consumer Loan Assignments
NewConsumerLoanAssignments
769000000 USD
CY2014Q2 cacc New Consumer Loan Assignments
NewConsumerLoanAssignments
382300000 USD
CY2013Q2 cacc New Consumer Loan Assignments
NewConsumerLoanAssignments
362500000 USD
CY2014Q2 cacc Number Of Business Programs
NumberOfBusinessPrograms
2 program
cacc Number Of Consumer Loans Assigned To Receive Accelerated Dealer Holdback Payment
NumberOfConsumerLoansAssignedToReceiveAcceleratedDealerHoldbackPayment
100 loan
cacc Number Of Consumers Required To Group Advances
NumberOfConsumersRequiredToGroupAdvances
100 loan
cacc Numberof Portfolio Segments
NumberofPortfolioSegments
2 portfolio_segment
cacc Payments Of Dealer Holdback
PaymentsOfDealerHoldback
67800000 USD
cacc Payments Of Dealer Holdback
PaymentsOfDealerHoldback
58500000 USD
CY2014Q2 cacc Payments Of Dealer Holdback
PaymentsOfDealerHoldback
33300000 USD
CY2013Q2 cacc Payments Of Dealer Holdback
PaymentsOfDealerHoldback
28500000 USD
cacc Percentage Of Collections On Contributed Loans
PercentageOfCollectionsOnContributedLoans
0.06
CY2013Q4 cacc Percentage Of Due From Affiliates
PercentageOfDueFromAffiliates
0.003
CY2014Q2 cacc Percentage Of Due From Affiliates
PercentageOfDueFromAffiliates
0.004
cacc Percentage Of Revenue From Enrollment And Registration Fees In Program
PercentageOfRevenueFromEnrollmentAndRegistrationFeesInProgram
0.5
cacc Period After Consumer Loans With No Forecasted Future Net Cash Flows
PeriodAfterConsumerLoansWithNoForecastedFutureNetCashFlows
P120M
cacc Period After Determination Dealer Loan Write Off
PeriodAfterDeterminationDealerLoanWriteOff
P120M
cacc Period After Determination Purchased Loan Write Off
PeriodAfterDeterminationPurchasedLoanWriteOff
P120M
CY2013Q4 cacc Restricted Available For Sale Securities Amortized Cost
RestrictedAvailableForSaleSecuritiesAmortizedCost
53900000 USD
CY2014Q2 cacc Restricted Available For Sale Securities Amortized Cost
RestrictedAvailableForSaleSecuritiesAmortizedCost
54700000 USD
CY2013Q4 cacc Restricted Cash And Cash Equivalents Fair Value Disclosure
RestrictedCashAndCashEquivalentsFairValueDisclosure
111300000 USD
CY2014Q2 cacc Restricted Cash And Cash Equivalents Fair Value Disclosure
RestrictedCashAndCashEquivalentsFairValueDisclosure
156600000 USD
cacc Revenue From Enrollment And Registration Fees In Program
RevenueFromEnrollmentAndRegistrationFeesInProgram
9850 USD
CY2013Q4 cacc Secured Financing Fair Value Disclosure
SecuredFinancingFairValueDisclosure
938900000 USD
CY2014Q2 cacc Secured Financing Fair Value Disclosure
SecuredFinancingFairValueDisclosure
1255100000 USD
cacc Service Fee Income As Percentage Of Collections
ServiceFeeIncomeAsPercentageOfCollections
0.2
cacc Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Converted Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsConvertedWeightedAverageGrantDateFairValue
26.53
CY2014Q2 cacc Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageGrantDateFairValue
61.91
CY2013Q4 cacc Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageGrantDateFairValue
48.23
CY2013Q1 cacc Stock Repurchase Program Number Of Shares Authorized To Be Repurchased Increase
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchasedIncrease
1000000 shares
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
dei Document Period End Date
DocumentPeriodEndDate
2014-06-30
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0000885550
CY2014Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
21593612 shares
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
CREDIT ACCEPTANCE CORP

Files In Submission

Name View Source Status
0000885550-14-000054-index-headers.html Edgar Link pending
0000885550-14-000054-index.html Edgar Link pending
0000885550-14-000054.txt Edgar Link pending
0000885550-14-000054-xbrl.zip Edgar Link pending
cacc-20140630.xml Edgar Link completed
cacc-20140630.xsd Edgar Link pending
cacc-20140630x10q.htm Edgar Link pending
cacc-20140630xex31a.htm Edgar Link pending
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cacc-20140630_cal.xml Edgar Link unprocessable
cacc-20140630_def.xml Edgar Link unprocessable
cacc-20140630_lab.xml Edgar Link unprocessable
cacc-20140630_pre.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
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