$CACC
CREDIT ACCEPTANCE CORP

2014 Q3 Form 10-Q Financial Statement

#000088555014000067 Filed on October 29, 2014

View on sec.gov

Income Statement

Concept 2014 Q3 2013 Q3
Revenue $181.7M $172.7M
YoY Change 5.21% 10.92%
Cost Of Revenue $9.400M $11.00M
YoY Change -14.55%
Gross Profit $172.3M $161.7M
YoY Change 6.56%
Gross Profit Margin 94.83% 93.63%
Selling, General & Admin $17.40M $17.20M
YoY Change 1.16% -53.13%
% of Gross Profit 10.1% 10.64%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $3.500M $3.300M
YoY Change 6.06% 10.0%
% of Gross Profit 2.03% 2.04%
Operating Expenses $17.40M $17.20M
YoY Change 1.16% -69.06%
Operating Profit $154.9M $144.5M
YoY Change 7.2%
Interest Expense $13.50M $16.10M
YoY Change -16.15% -198.77%
% of Operating Profit 8.72% 11.14%
Other Income/Expense, Net
YoY Change
Pretax Income $115.3M $102.2M
YoY Change 12.82% 21.96%
Income Tax $41.30M $37.10M
% Of Pretax Income 35.82% 36.3%
Net Earnings $74.00M $65.10M
YoY Change 13.67% 23.06%
Net Earnings / Revenue 40.73% 37.7%
Basic Earnings Per Share $3.38 $2.75
Diluted Earnings Per Share $3.38 $2.75
COMMON SHARES
Basic Shares Outstanding 21.89M shares 23.67M shares
Diluted Shares Outstanding 21.90M shares 23.71M shares

Balance Sheet

Concept 2014 Q3 2013 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.300M $3.600M
YoY Change 19.44% -36.84%
Cash & Equivalents $4.300M $3.600M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $5.700M $4.800M
YoY Change 18.75% -15.79%
LONG-TERM ASSETS
Property, Plant & Equipment $21.80M $22.30M
YoY Change -2.24% 1.83%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $256.8M $168.1M
YoY Change 52.77% -9.87%
Total Long-Term Assets $2.717B $2.380B
YoY Change 14.13% 13.48%
TOTAL ASSETS
Total Short-Term Assets $5.700M $4.800M
Total Long-Term Assets $2.717B $2.380B
Total Assets $2.723B $2.385B
YoY Change 14.14% 13.4%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $111.4M $109.9M
YoY Change 1.36% 12.03%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $122.9M $115.6M
YoY Change 6.31% -48.37%
LONG-TERM LIABILITIES
Long-Term Debt $1.660B $1.434B
YoY Change 15.77% 25.1%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $1.660B $1.434B
YoY Change 15.77% 25.1%
TOTAL LIABILITIES
Total Short-Term Liabilities $122.9M $115.6M
Total Long-Term Liabilities $1.660B $1.434B
Total Liabilities $1.974B $1.695B
YoY Change 16.43% 12.61%
SHAREHOLDERS EQUITY
Retained Earnings $665.5M
YoY Change
Common Stock $83.10M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $748.5M $689.8M
YoY Change
Total Liabilities & Shareholders Equity $2.723B $2.385B
YoY Change 14.14% 13.4%

Cashflow Statement

Concept 2014 Q3 2013 Q3
OPERATING ACTIVITIES
Net Income $74.00M $65.10M
YoY Change 13.67% 23.06%
Depreciation, Depletion And Amortization $3.500M $3.300M
YoY Change 6.06% 10.0%
Cash From Operating Activities $96.10M $80.70M
YoY Change 19.08% 20.63%
INVESTING ACTIVITIES
Capital Expenditures -$300.0K -$1.300M
YoY Change -76.92% 18.18%
Acquisitions
YoY Change
Other Investing Activities -$99.50M -$80.50M
YoY Change 23.6% -26.15%
Cash From Investing Activities -$99.80M -$81.80M
YoY Change 22.0% -25.7%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.300M -4.300M
YoY Change -130.23% -109.82%
NET CHANGE
Cash From Operating Activities 96.10M 80.70M
Cash From Investing Activities -99.80M -81.80M
Cash From Financing Activities 1.300M -4.300M
Net Change In Cash -2.400M -5.400M
YoY Change -55.56% -1000.0%
FREE CASH FLOW
Cash From Operating Activities $96.10M $80.70M
Capital Expenditures -$300.0K -$1.300M
Free Cash Flow $96.40M $82.00M
YoY Change 17.56% 20.59%

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2407400000 USD
CY2013Q4 us-gaap Loans Receivable Fair Value Disclosure
LoansReceivableFairValueDisclosure
2226700000 USD
CY2014Q3 us-gaap Loans Receivable Fair Value Disclosure
LoansReceivableFairValueDisclosure
2417200000 USD
CY2013Q1 us-gaap Loss Contingency Number Of Plaintiffs
LossContingencyNumberOfPlaintiffs
6 dealer
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 seven 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><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, 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;">90.5</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;">9.5</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></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 meet one of the following:</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><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;" 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:48px;"><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:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">received their first accelerated Dealer Holdback payment under the Portfolio Program;</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;" 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:48px;"><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:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">franchise dealership; or</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;" 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:48px;"><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:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">independent dealership that meets certain criteria upon enrollment.</font></div></td></tr></table></div>
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0 USD
CY2014Q3 us-gaap Stockholders Equity
StockholdersEquity
748500000 USD
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
24047443 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
22776197 shares
CY2014Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
21895222 shares
CY2013Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
23708043 shares
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
21978263 shares
CY2013Q3 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
22991709 shares
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
23323319 shares
CY2014Q3 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
21402969 shares
CY2013Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
23672635 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
23989845 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
22750868 shares
CY2014Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
21888591 shares
us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
772605 shares
CY2013Q3 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
680926 shares
CY2014Q3 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
485622 shares
us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
666526 shares
cacc Accelerated Payments Of Dealer Holdback
AcceleratedPaymentsOfDealerHoldback
31600000 USD
cacc Accelerated Payments Of Dealer Holdback
AcceleratedPaymentsOfDealerHoldback
30800000 USD
CY2014Q3 cacc Accelerated Payments Of Dealer Holdback
AcceleratedPaymentsOfDealerHoldback
9700000 USD
CY2013Q3 cacc Accelerated Payments Of Dealer Holdback
AcceleratedPaymentsOfDealerHoldback
10400000 USD
cacc Advances To Dealers
AdvancesToDealers
1103600000 USD
cacc Advances To Dealers
AdvancesToDealers
1048000000 USD
CY2014Q3 cacc Available For Sale Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
0 USD
CY2013Q4 cacc Available For Sale Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
0 USD
CY2014Q3 cacc Available For Sale Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
200000 USD
CY2013Q4 cacc Available For Sale Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
300000 USD
CY2013Q4 cacc Availableforsale Securities Continuous Unrealized Loss Position12 Monthsor Longer Accumulated Loss
AvailableforsaleSecuritiesContinuousUnrealizedLossPosition12MonthsorLongerAccumulatedLoss
0 USD
CY2014Q3 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
CY2014Q3 cacc Availableforsale Securities Continuous Unrealized Loss Position Accumulated Loss
AvailableforsaleSecuritiesContinuousUnrealizedLossPositionAccumulatedLoss
200000 USD
CY2013Q4 cacc Availableforsale Securities Continuous Unrealized Loss Position Lessthan12 Months Accumulated Loss
AvailableforsaleSecuritiesContinuousUnrealizedLossPositionLessthan12MonthsAccumulatedLoss
300000 USD
CY2014Q3 cacc Availableforsale Securities Continuous Unrealized Loss Position Lessthan12 Months Accumulated Loss
AvailableforsaleSecuritiesContinuousUnrealizedLossPositionLessthan12MonthsAccumulatedLoss
100000 USD
CY2014Q3 cacc Certain Loans Acquired In Transfer Accounted For As Loans Accretable Yield
CertainLoansAcquiredInTransferAccountedForAsLoansAccretableYield
842700000 USD
CY2013Q4 cacc Certain Loans Acquired In Transfer Accounted For As Loans Accretable Yield
CertainLoansAcquiredInTransferAccountedForAsLoansAccretableYield
780300000 USD
CY2013Q3 cacc Certain Loans Acquired In Transfer Accounted For As Loans Accretable Yield
CertainLoansAcquiredInTransferAccountedForAsLoansAccretableYield
779700000 USD
CY2012Q4 cacc Certain Loans Acquired In Transfer Accounted For As Loans Accretable Yield
CertainLoansAcquiredInTransferAccountedForAsLoansAccretableYield
718100000 USD
CY2014Q3 cacc Certain Loans Acquired In Transfer Accounted For As Loans Accretable Yield Reclassifications From Nonaccretable Difference
CertainLoansAcquiredInTransferAccountedForAsLoansAccretableYieldReclassificationsFromNonaccretableDifference
9800000 USD
cacc Certain Loans Acquired In Transfer Accounted For As Loans Accretable Yield Transfers
CertainLoansAcquiredInTransferAccountedForAsLoansAccretableYieldTransfers
3800000 USD
CY2013Q3 cacc Certain Loans Acquired In Transfer Accounted For As Loans Accretable Yield Transfers
CertainLoansAcquiredInTransferAccountedForAsLoansAccretableYieldTransfers
1500000 USD
cacc Certain Loans Acquired In Transfer Accounted For As Loans Accretable Yield Transfers
CertainLoansAcquiredInTransferAccountedForAsLoansAccretableYieldTransfers
3600000 USD
CY2014Q3 cacc Certain Loans Acquired In Transfer Accounted For As Loans Accretable Yield Transfers
CertainLoansAcquiredInTransferAccountedForAsLoansAccretableYieldTransfers
1200000 USD
CY2014Q3 cacc Debt Instrument Covenant Net Income For Past Two Quarters
DebtInstrumentCovenantNetIncomeForPastTwoQuarters
1 USD
CY2013Q3 cacc Dilutive Securities Restricted Stock And Restricted Stock Units
DilutiveSecuritiesRestrictedStockAndRestrictedStockUnits
7556 shares
cacc Dilutive Securities Restricted Stock And Restricted Stock Units
DilutiveSecuritiesRestrictedStockAndRestrictedStockUnits
22658 shares
cacc Dilutive Securities Restricted Stock And Restricted Stock Units
DilutiveSecuritiesRestrictedStockAndRestrictedStockUnits
20936 shares
CY2014Q3 cacc Dilutive Securities Restricted Stock And Restricted Stock Units
DilutiveSecuritiesRestrictedStockAndRestrictedStockUnits
6631 shares
CY2014Q3 cacc Loans And Leases Receivable Transfers
LoansAndLeasesReceivableTransfers
USD
CY2013Q3 cacc Loans And Leases Receivable Transfers
LoansAndLeasesReceivableTransfers
USD
cacc Loans And Leases Receivable Transfers
LoansAndLeasesReceivableTransfers
USD
cacc Loans And Leases Receivable Transfers
LoansAndLeasesReceivableTransfers
USD
cacc Loans Receivable Contractual Net Cash Flows At Assignment
LoansReceivableContractualNetCashFlowsAtAssignment
1780000000 USD
CY2013Q3 cacc Loans Receivable Contractual Net Cash Flows At Assignment
LoansReceivableContractualNetCashFlowsAtAssignment
581500000 USD
CY2014Q3 cacc Loans Receivable Contractual Net Cash Flows At Assignment
LoansReceivableContractualNetCashFlowsAtAssignment
617400000 USD
cacc Loans Receivable Contractual Net Cash Flows At Assignment
LoansReceivableContractualNetCashFlowsAtAssignment
1959500000 USD
CY2014Q3 cacc Loans Receivable Expected Net Cash Flows At Assignment
LoansReceivableExpectedNetCashFlowsAtAssignment
547300000 USD
cacc Loans Receivable Expected Net Cash Flows At Assignment
LoansReceivableExpectedNetCashFlowsAtAssignment
1746100000 USD
CY2013Q3 cacc Loans Receivable Expected Net Cash Flows At Assignment
LoansReceivableExpectedNetCashFlowsAtAssignment
521000000 USD
cacc Loans Receivable Expected Net Cash Flows At Assignment
LoansReceivableExpectedNetCashFlowsAtAssignment
1612300000 USD
CY2014Q3 cacc Loans Receivable Fair Value Of Net Cash Flows At Assignment
LoansReceivableFairValueOfNetCashFlowsAtAssignment
391700000 USD
cacc Loans Receivable Fair Value Of Net Cash Flows At Assignment
LoansReceivableFairValueOfNetCashFlowsAtAssignment
1246400000 USD
CY2013Q3 cacc Loans Receivable Fair Value Of Net Cash Flows At Assignment
LoansReceivableFairValueOfNetCashFlowsAtAssignment
369200000 USD
cacc Loans Receivable Fair Value Of Net Cash Flows At Assignment
LoansReceivableFairValueOfNetCashFlowsAtAssignment
1138200000 USD
CY2014Q3 cacc Maximum Hedging Reserve
MaximumHedgingReserve
1000000 USD
cacc Monthly Servicing Fee Per Financing
MonthlyServicingFeePerFinancing
0.06
CY2014Q3 cacc New Consumer Loan Assignments
NewConsumerLoanAssignments
391700000 USD
CY2013Q3 cacc New Consumer Loan Assignments
NewConsumerLoanAssignments
369200000 USD
cacc New Consumer Loan Assignments
NewConsumerLoanAssignments
1246400000 USD
cacc New Consumer Loan Assignments
NewConsumerLoanAssignments
1138200000 USD
CY2014Q3 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
101500000 USD
cacc Payments Of Dealer Holdback
PaymentsOfDealerHoldback
86300000 USD
CY2013Q3 cacc Payments Of Dealer Holdback
PaymentsOfDealerHoldback
27800000 USD
CY2014Q3 cacc Payments Of Dealer Holdback
PaymentsOfDealerHoldback
33700000 USD
cacc Percentage Of Collections On Contributed Loans
PercentageOfCollectionsOnContributedLoans
0.06
CY2013Q4 cacc Percentage Of Due From Affiliates
PercentageOfDueFromAffiliates
0.003
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
CY2014Q3 cacc Restricted Available For Sale Securities Amortized Cost
RestrictedAvailableForSaleSecuritiesAmortizedCost
51600000 USD
CY2013Q4 cacc Restricted Available For Sale Securities Amortized Cost
RestrictedAvailableForSaleSecuritiesAmortizedCost
53900000 USD
CY2013Q4 cacc Restricted Cash And Cash Equivalents Fair Value Disclosure
RestrictedCashAndCashEquivalentsFairValueDisclosure
111300000 USD
CY2014Q3 cacc Restricted Cash And Cash Equivalents Fair Value Disclosure
RestrictedCashAndCashEquivalentsFairValueDisclosure
205400000 USD
cacc Revenue From Enrollment And Registration Fees In Program
RevenueFromEnrollmentAndRegistrationFeesInProgram
9850 USD
CY2013Q4 cacc Secured Financing Fair Value Disclosure
SecuredFinancingFairValueDisclosure
938900000 USD
CY2014Q3 cacc Secured Financing Fair Value Disclosure
SecuredFinancingFairValueDisclosure
1356900000 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
CY2014Q3 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
CY2014Q3 cacc Stock Repurchase Program Number Of Shares Authorized To Be Repurchased Increase
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchasedIncrease
995698 shares
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
dei Document Period End Date
DocumentPeriodEndDate
2014-09-30
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0000885550
CY2014Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
20597890 shares
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
CREDIT ACCEPTANCE CORP

Files In Submission

Name View Source Status
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0000885550-14-000067.txt Edgar Link pending
0000885550-14-000067-xbrl.zip Edgar Link pending
cacc-20140930.xml Edgar Link completed
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cacc-20140930_pre.xml Edgar Link unprocessable
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