v3.26.1
Fair Value of Financial Instruments (Tables)
 3 Months Ended
Mar. 31, 2026
Fair Value Disclosures [Abstract]  
Schedule of Comparison of the Carrying Value and Estimated Fair Value of Financial Instruments
A comparison of the carrying amount and estimated fair value of these financial instruments is as follows:

(In millions)As of March 31, 2026As of December 31, 2025
 Carrying
Amount		Estimated Fair
Value		Carrying
Amount		Estimated Fair
Value
Assets    
Cash and cash equivalents$25.7 $25.7 $22.8 $22.8 
Restricted cash and cash equivalents525.7 525.7 477.9 477.9 
Restricted securities available for sale109.4 109.4 106.2 106.2 
Loans receivable, net7,956.4 9,002.7 7,909.2 8,974.1 
Liabilities    
Revolving secured lines of credit$219.6 $219.6 $107.3 $107.3 
Secured financing5,100.3 5,134.3 5,158.8 5,225.3 
Senior notes1,088.7 1,105.3 1,087.8 1,131.4 
Schedule of Assets and Liabilities, Measured at Fair Value on a Recurring Basis
The following table provides the level of measurement used to determine the fair value for each of our financial instruments measured or disclosed at fair value:

(In millions)As of March 31, 2026
 Level 1Level 2Level 3Total Fair Value
Assets   
Cash and cash equivalents (1)$25.7 $— $— $25.7 
Restricted cash and cash equivalents (1)525.7 — — 525.7 
Restricted securities available for sale (2)88.4 21.0 — 109.4 
Loans receivable, net (1)— — 9,002.7 9,002.7 
Liabilities    
Revolving secured lines of credit (1)$— $219.6 $— $219.6 
Secured financing (1)3,483.2 1,651.1 — 5,134.3 
Senior notes (1)1,105.3 — — 1,105.3 
(In millions)As of December 31, 2025
 Level 1Level 2Level 3Total Fair Value
Assets    
Cash and cash equivalents (1)$22.8 $— $— $22.8 
Restricted cash and cash equivalents (1)477.9 — — 477.9 
Restricted securities available for sale (2)84.7 21.5 — 106.2 
Loans receivable, net (1)— — 8,974.1 8,974.1 
Liabilities    
Revolving secured lines of credit (1)$— $107.3 $— $107.3 
Secured financing (1)3,825.1 1,400.2 — 5,225.3 
Senior notes (1)1,131.4 — — 1,131.4 

(1)Measured at amortized cost with fair value disclosed.
(2)Measured at fair value on a recurring basis