v3.25.2
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
REVENUES        
Interest income on retail notes and finance leases $ 95,584 $ 92,184 $ 189,693 $ 179,575
Rental income on operating leases 61,129 57,540 120,922 117,346
Revolving charge account income 11,648 10,883 22,064 20,189
Interest income on wholesale notes 37,920 31,007 72,496 57,930
Interest and other income from affiliates 123,024 128,259 244,893 247,733
Other income 2,784 3,490 6,114 6,896
Total revenues 332,089 323,363 656,182 629,669
Interest expense:        
Interest expense to third parties 164,902 174,896 331,319 337,699
Total interest expense 165,384 175,864 332,036 343,291
Administrative and operating expenses:        
Provision for credit losses 24,444 11,771 41,540 22,283
Depreciation of equipment on operating leases 48,154 44,195 94,486 87,295
Other expenses, net 3,004 4,699 9,662 5,295
Total administrative and operating expenses 88,161 72,113 170,291 139,916
Total expenses 253,545 247,977 502,327 483,207
INCOME BEFORE TAXES 78,544 75,386 153,855 146,462
Income tax provision 17,617 16,548 36,306 33,151
NET INCOME 60,927 58,838 117,549 113,311
Related Party        
Interest expense:        
Interest expense to affiliates 482 968 717 5,592
Total interest expense 482 968 717 5,592
Administrative and operating expenses:        
Fees charged by affiliates $ 12,559 $ 11,448 $ 24,603 $ 25,043