Pay vs Performance Disclosure - USD ($)
Dec. 31, 2025
May 03, 2021
Dec. 31, 2021
Nov. 12, 2025
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
PAY VERSUS PERFORMANCE
As required by Section 953(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act and Item 402(v) of Regulation S-K (the “PVP Requirements”), we are providing the following information about the relationship between compensation reported in the summary compensation table (“SCT”) and compensation actually paid (“CAP”) as calculated under the PVP Requirements to our principal executive officer (“PEO”) and our other named executive officers (“NEOs”) and certain financial performance measures.
| Vinayak R. Hegde | Kenneth S. Booth | Brett A. Roberts | Value of Initial Fixed $100 Investment Based on: (d) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Year | SCT Total for PEO ($) (a) | CAP to PEO ($) (b) | SCT Total for PEO ($) (a) | CAP to PEO ($) (b) | SCT Total for PEO ($) (a) | CAP to PEO ($) (b) | Average SCT Total for NEOs ($) (c) | CAP to NEOs ($) (b) (c) | Total Shareholder Return ($) | Peer Group Total Shareholder Return ($) | GAAP Net Income ($ in millions) | Economic Profit ($ in millions) (e) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 2025 | $ | 62,567,647 | $ | 62,851,930 | $ | 27,416,214 | $ | 26,271,243 | n/a | n/a | $ | 1,473,848 | $ | 901,342 | $ | 128.05 | $ | 197.82 | $ | 423.9 | $ | 173.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| 2024 | n/a | n/a | 1,018,553 | (2,289,737) | n/a | n/a | 13,133,539 | 11,924,232 | 106.09 | 198.91 | 247.9 | 206.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 2023 | n/a | n/a | 1,016,500 | 3,552,673 | n/a | n/a | 677,825 | 1,415,826 | 120.40 | 152.34 | 286.1 | 260.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 2022 | n/a | n/a | 1,015,250 | (22,614,425) | n/a | n/a | 4,418,311 | 1,709,981 | 107.24 | 125.51 | 535.8 | 476.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 2021 | n/a | n/a | 30,526,345 | 59,123,384 | $ | 359,911 | (46,514,489) | 10,101,413 | 15,536,684 | 155.47 | 148.00 | 958.3 | 574.1 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(a)During 2025, our PEOs were Mr. Booth (until his transition to Executive Board Member effective November 13, 2025) and Mr. Hegde (beginning on November 13, 2025). During 2024, 2023, and 2022, our PEO was Mr. Booth. During 2021, our PEOs were Mr. Roberts (until his retirement effective May 3, 2021) and Mr. Booth (beginning on May 3, 2021).
(b)Compensation actually paid, as computed under SEC rules, requires starting with the “Total” column of the SCT and making certain adjustments to reflect adjusted values to equity awards based on stock prices as of year end or the relevant vesting dates and, in the case of stock option awards, various other accounting valuation assumptions. The following tables reflect the adjustments made to SCT total compensation to compute CAP for our PEO and average CAP for our non-PEO NEOs:
| PEOs | ||||||||||||||||||||||||||||||||||||||||||||
| 2025 (Hegde) | 2025 (Booth) | 2024 | 2023 | 2022 | 2021 (Booth) | 2021 (Roberts) | ||||||||||||||||||||||||||||||||||||||
| Compensation reported in the SCT | $ | 62,567,647 | $ | 27,416,214 | $ | 1,018,553 | $ | 1,016,500 | $ | 1,015,250 | $ | 30,526,345 | $ | 359,911 | ||||||||||||||||||||||||||||||
| Adjustments related to stock options | ||||||||||||||||||||||||||||||||||||||||||||
Deduction for amounts reported in the “Option Awards” column in the SCT | — | — | — | — | — | (29,623,631) | — | |||||||||||||||||||||||||||||||||||||
| Increase for fair value of awards granted during year that remain unvested as of year end | — | — | — | — | — | 53,755,806 | — | |||||||||||||||||||||||||||||||||||||
| Increase for fair value of awards granted during year that vested during year | — | — | — | — | — | 4,392,539 | — | |||||||||||||||||||||||||||||||||||||
| Increase/deduction for change in fair value from prior year-end to current year-end of awards granted prior to year that were outstanding and unvested as of year-end | — | — | (1,601,679) | 2,890,227 | (17,456,114) | — | — | |||||||||||||||||||||||||||||||||||||
| Deduction for change in fair value from prior year-end to vesting date of awards granted prior to year that vested during year | (148,648) | (87,405) | (1,706,611) | (354,054) | (6,173,561) | — | — | |||||||||||||||||||||||||||||||||||||
| Adjustments related to RSUs and restricted shares | ||||||||||||||||||||||||||||||||||||||||||||
Deduction for amounts reported in the “Stock Awards” column in the SCT (1) | (61,833,291) | (26,380,906) | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
| Increase for fair value of awards granted during year that remain unvested as of year end | 62,266,219 | 25,323,340 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
| Deduction for change in fair value from prior year-end to current year-end of awards granted prior to year that were outstanding and unvested as of year-end | (1,586) | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||
| Increase for change in fair value from prior year-end to vesting date of awards granted prior to year that vested during year | 1,589 | — | — | — | — | 72,325 | 1,585,200 | |||||||||||||||||||||||||||||||||||||
| Deduction of fair value of awards granted prior to year that were forfeited during year | — | — | — | — | — | — | (48,459,600) | |||||||||||||||||||||||||||||||||||||
| Compensation actually paid | $ | 62,851,930 | $ | 26,271,243 | $ | (2,289,737) | $ | 3,552,673 | $ | (22,614,425) | $ | 59,123,384 | $ | (46,514,489) | ||||||||||||||||||||||||||||||
(1) The 2025 amount reported for Mr. Hegde includes 410 RSUs granted on June 4, 2025 in connection with the annual equity award for his service as a director prior to his appointment as Chief Executive Officer, which was reported in the “All Other Compensation” column in the SCT.
| Non-PEO NEOs | ||||||||||||||||||||||||||||||||
| 2025 | 2024 | 2023 | 2022 | 2021 | ||||||||||||||||||||||||||||
| Compensation reported in the SCT | $ | 1,473,848 | $ | 13,133,539 | $ | 677,825 | $ | 4,418,311 | $ | 10,101,413 | ||||||||||||||||||||||
| Adjustments related to stock options | ||||||||||||||||||||||||||||||||
Deduction for amounts reported in the “Option Awards” column in the SCT | — | — | — | (1,885,347) | (9,403,018) | |||||||||||||||||||||||||||
| Increase for fair value of awards granted during year that remain unvested as of year end | — | — | — | 1,630,624 | 10,463,258 | |||||||||||||||||||||||||||
| Increase for fair value of awards granted during year that vested during year | — | — | — | — | 4,304,688 | |||||||||||||||||||||||||||
| Increase/deduction for change in fair value from prior year-end to current year-end of awards granted prior to year that were outstanding and unvested as of year-end | (31,263) | (9,424) | 499,504 | (1,554,222) | — | |||||||||||||||||||||||||||
| Increase/deduction for change in fair value from prior year-end to vesting date of awards granted prior to year that vested during year | (28,829) | (867,963) | 166,584 | (916,535) | — | |||||||||||||||||||||||||||
| Adjustments related to RSUs | ||||||||||||||||||||||||||||||||
Deduction for amounts reported in the “Stock Awards” column in the SCT | (430,594) | (12,496,450) | — | (2,117,650) | — | |||||||||||||||||||||||||||
| Increase for fair value of awards granted during year that remain unvested as of year end | 426,697 | 12,164,530 | — | 2,134,800 | — | |||||||||||||||||||||||||||
| Increase/deduction for change in fair value from prior year-end to current year-end of awards granted prior to year that were outstanding and unvested as of year-end | (533,629) | — | 87,495 | — | — | |||||||||||||||||||||||||||
| Increase/deduction for change in fair value from prior year-end to vesting date of awards granted prior to year that vested during year | 25,112 | — | (15,582) | — | 70,343 | |||||||||||||||||||||||||||
| Compensation actually paid | $ | 901,342 | $ | 11,924,232 | $ | 1,415,826 | $ | 1,709,981 | $ | 15,536,684 | ||||||||||||||||||||||
(c)Our non-PEO NEOs consisted of the following individuals:
2025: Messrs. Busk, Martin, Mohan, Smith, and Ulatowski
2024: Messrs. Lum, Martin, Smith, and Ulatowski
2023: Messrs. Busk, Rostami, Smith, and Ulatowski
2022: Messrs. Mohan, Rostami, and Smith and Ms. Rummler
2021: Charles A. Pearce and Messrs. Busk, Smith, and Ulatowski
(d)Assumes that $100 was invested in Common Stock and in a market index representing our peer group on December 31, 2020, and assumes the reinvestment of dividends. The peer group market index used for this purpose is the Dow Jones U.S. Financial Services Index.
(e)Economic profit is an important financial performance measure used by the Company to evaluate business decisions and strategies and our financial performance and is used to link certain compensation actually paid to our non-PEO NEOs to Company performance (company-selected measure). The following is a reconciliation of GAAP net income to economic profit:
| (In millions) | For the Years Ended December 31, | |||||||||||||||||||||||||||||||
| 2025 | 2024 | 2023 | 2022 | 2021 | ||||||||||||||||||||||||||||
| GAAP net income | $ | 423.9 | $ | 247.9 | $ | 286.1 | $ | 535.8 | $ | 958.3 | ||||||||||||||||||||||
| Floating yield adjustment (after-tax) | (470.9) | (420.4) | (310.1) | (196.5) | (148.5) | |||||||||||||||||||||||||||
GAAP provision for credit losses (after-tax) | 465.4 | 627.3 | 566.9 | 370.7 | 6.5 | |||||||||||||||||||||||||||
| Loss on sale of building (after-tax) | — | 18.3 | — | — | — | |||||||||||||||||||||||||||
| Contingent loss (after-tax) (1) | 55.6 | 6.5 | — | — | — | |||||||||||||||||||||||||||
Senior notes adjustment (after-tax) | — | — | (4.2) | (2.1) | (2.1) | |||||||||||||||||||||||||||
| Income tax adjustment | 3.0 | 5.8 | (3.1) | 12.2 | 12.6 | |||||||||||||||||||||||||||
| Adjusted net income (1) | 477.0 | 485.4 | 535.6 | 720.1 | 826.8 | |||||||||||||||||||||||||||
| Adjusted interest expense (after-tax) | 349.5 | 323.0 | 209.5 | 130.4 | 128.5 | |||||||||||||||||||||||||||
| Adjusted net income plus interest expense (after-tax) (1) | 826.5 | 808.4 | 745.1 | 850.5 | 955.3 | |||||||||||||||||||||||||||
| Less: cost of capital | 653.2 | 601.6 | 484.6 | 373.9 | 381.2 | |||||||||||||||||||||||||||
| Economic profit (1) | $ | 173.3 | $ | 206.8 | $ | 260.5 | $ | 476.6 | $ | 574.1 | ||||||||||||||||||||||
(c)Our non-PEO NEOs consisted of the following individuals:
2025: Messrs. Busk, Martin, Mohan, Smith, and Ulatowski
2024: Messrs. Lum, Martin, Smith, and Ulatowski
2023: Messrs. Busk, Rostami, Smith, and Ulatowski
2022: Messrs. Mohan, Rostami, and Smith and Ms. Rummler
2021: Charles A. Pearce and Messrs. Busk, Smith, and Ulatowski
| PEOs | ||||||||||||||||||||||||||||||||||||||||||||
| 2025 (Hegde) | 2025 (Booth) | 2024 | 2023 | 2022 | 2021 (Booth) | 2021 (Roberts) | ||||||||||||||||||||||||||||||||||||||
| Compensation reported in the SCT | $ | 62,567,647 | $ | 27,416,214 | $ | 1,018,553 | $ | 1,016,500 | $ | 1,015,250 | $ | 30,526,345 | $ | 359,911 | ||||||||||||||||||||||||||||||
| Adjustments related to stock options | ||||||||||||||||||||||||||||||||||||||||||||
Deduction for amounts reported in the “Option Awards” column in the SCT | — | — | — | — | — | (29,623,631) | — | |||||||||||||||||||||||||||||||||||||
| Increase for fair value of awards granted during year that remain unvested as of year end | — | — | — | — | — | 53,755,806 | — | |||||||||||||||||||||||||||||||||||||
| Increase for fair value of awards granted during year that vested during year | — | — | — | — | — | 4,392,539 | — | |||||||||||||||||||||||||||||||||||||
| Increase/deduction for change in fair value from prior year-end to current year-end of awards granted prior to year that were outstanding and unvested as of year-end | — | — | (1,601,679) | 2,890,227 | (17,456,114) | — | — | |||||||||||||||||||||||||||||||||||||
| Deduction for change in fair value from prior year-end to vesting date of awards granted prior to year that vested during year | (148,648) | (87,405) | (1,706,611) | (354,054) | (6,173,561) | — | — | |||||||||||||||||||||||||||||||||||||
| Adjustments related to RSUs and restricted shares | ||||||||||||||||||||||||||||||||||||||||||||
Deduction for amounts reported in the “Stock Awards” column in the SCT (1) | (61,833,291) | (26,380,906) | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
| Increase for fair value of awards granted during year that remain unvested as of year end | 62,266,219 | 25,323,340 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||
| Deduction for change in fair value from prior year-end to current year-end of awards granted prior to year that were outstanding and unvested as of year-end | (1,586) | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||
| Increase for change in fair value from prior year-end to vesting date of awards granted prior to year that vested during year | 1,589 | — | — | — | — | 72,325 | 1,585,200 | |||||||||||||||||||||||||||||||||||||
| Deduction of fair value of awards granted prior to year that were forfeited during year | — | — | — | — | — | — | (48,459,600) | |||||||||||||||||||||||||||||||||||||
| Compensation actually paid | $ | 62,851,930 | $ | 26,271,243 | $ | (2,289,737) | $ | 3,552,673 | $ | (22,614,425) | $ | 59,123,384 | $ | (46,514,489) | ||||||||||||||||||||||||||||||
| Non-PEO NEOs | ||||||||||||||||||||||||||||||||
| 2025 | 2024 | 2023 | 2022 | 2021 | ||||||||||||||||||||||||||||
| Compensation reported in the SCT | $ | 1,473,848 | $ | 13,133,539 | $ | 677,825 | $ | 4,418,311 | $ | 10,101,413 | ||||||||||||||||||||||
| Adjustments related to stock options | ||||||||||||||||||||||||||||||||
Deduction for amounts reported in the “Option Awards” column in the SCT | — | — | — | (1,885,347) | (9,403,018) | |||||||||||||||||||||||||||
| Increase for fair value of awards granted during year that remain unvested as of year end | — | — | — | 1,630,624 | 10,463,258 | |||||||||||||||||||||||||||
| Increase for fair value of awards granted during year that vested during year | — | — | — | — | 4,304,688 | |||||||||||||||||||||||||||
| Increase/deduction for change in fair value from prior year-end to current year-end of awards granted prior to year that were outstanding and unvested as of year-end | (31,263) | (9,424) | 499,504 | (1,554,222) | — | |||||||||||||||||||||||||||
| Increase/deduction for change in fair value from prior year-end to vesting date of awards granted prior to year that vested during year | (28,829) | (867,963) | 166,584 | (916,535) | — | |||||||||||||||||||||||||||
| Adjustments related to RSUs | ||||||||||||||||||||||||||||||||
Deduction for amounts reported in the “Stock Awards” column in the SCT | (430,594) | (12,496,450) | — | (2,117,650) | — | |||||||||||||||||||||||||||
| Increase for fair value of awards granted during year that remain unvested as of year end | 426,697 | 12,164,530 | — | 2,134,800 | — | |||||||||||||||||||||||||||
| Increase/deduction for change in fair value from prior year-end to current year-end of awards granted prior to year that were outstanding and unvested as of year-end | (533,629) | — | 87,495 | — | — | |||||||||||||||||||||||||||
| Increase/deduction for change in fair value from prior year-end to vesting date of awards granted prior to year that vested during year | 25,112 | — | (15,582) | — | 70,343 | |||||||||||||||||||||||||||
| Compensation actually paid | $ | 901,342 | $ | 11,924,232 | $ | 1,415,826 | $ | 1,709,981 | $ | 15,536,684 | ||||||||||||||||||||||
Company Performance Metrics. Listed below are the financial performance measures, including our company-selected measure, which in our assessment represent the most important financial performance measures we used in 2025 to link CAP to the Company’s named executive officers to Company performance. For 2025, the Company used fewer than three financial performance metrics to link CAP to the Company’s named executive officers to Company performance.
| Measure | Nature | Explanation | ||||||||||||
| Economic profit | Financial measure | Economic profit is a non-GAAP financial measure we use to evaluate our financial results and determine profit-sharing for team members, which is available to all team members, including named executive officers, with the exception of our Chief Executive Officer. | ||||||||||||
| Share price | Financial measure | Our RSU awards provide value proportionate to the amount of shareholder wealth created, as measured by the share price. Our stock option awards provide value only if the market price of our Common Stock increases above the exercise price of the stock options. | ||||||||||||