v3.25.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash Flows from Operating Activities:    
Net income $ 681 $ 97
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 141 158
Equity-based compensation expense 50 45
Loss on disposal of property and equipment 2 2
Loss on debt extinguishment 2 2
Payment-in-kind interest expense 146 285
Provision for bad debt and valuation allowance 10 17
Amortization of debt issuance costs 3 9
Unrealized gain on warrants to acquire Root Class A common stock (123) (53)
Unrealized gain on beneficial interests in securitizations (4) (14)
Changes in finance receivable related assets:    
Originations of finance receivables (5,746) (3,888)
Proceeds from sale of finance receivables, net 5,916 4,012
Gain on loan sales (547) (317)
Principal payments received on finance receivables held for sale 117 90
Other changes in assets and liabilities:    
Vehicle inventory (404) (70)
Accounts receivable (22) (88)
Other assets (52) 9
Accounts payable and accrued liabilities 36 145
Operating lease right-of-use assets 10 (11)
Operating lease liabilities (9) 15
Other liabilities 54 10
Net cash provided by operating activities 261 455
Cash Flows from Investing Activities:    
Purchases of property and equipment (58) (40)
Proceeds from disposal of property and equipment 1 8
Payments for acquisitions, net of cash acquired (24) 0
Principal payments received on and proceeds from sale of beneficial interests 27 41
Net cash (used in) provided by investing activities (54) 9
Cash Flows from Financing Activities:    
Proceeds from short-term revolving facilities 2,136 1,746
Payments on short-term revolving facilities (2,131) (2,342)
Proceeds from issuance of long-term debt 79 101
Payments on long-term debt (98) (303)
Payments of debt issuance costs (11) (3)
Payments of tax made on behalf of non-controlling members (4) 0
Net proceeds from issuance of Class A common stock and LLC Units 0 347
Tax receivable agreement payments (17) 0
Proceeds from equity-based compensation plans 22 3
Tax withholdings related to restricted stock units (13) 0
Net cash used in financing activities (37) (451)
Net increase in cash, cash equivalents and restricted cash 170 13
Cash, cash equivalents, and restricted cash at beginning of period 1,760 594
Cash, cash equivalents, and restricted cash at end of period $ 1,930 $ 607