v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS
$ in Thousands
3 Months Ended
Mar. 31, 2026
USD ($)
Mar. 31, 2025
USD ($)
Cash flows from operating activities:    
Net cash (used) provided by operating activities (Note 6) $ (228,021) $ 141,534
Cash flows from investing activities:    
Capital expenditures (31,792) (29,973)
Origination of finance receivables held for investment (368,839) (736,801)
Collections from finance receivables held for investment 246,701 827,998
Collection of retained securitization beneficial interests 10,261 0
Proceeds from derivative instruments 51,574 0
Other investing activities 91 171
Net cash (used) provided by investing activities (92,004) 61,395
Cash flows from financing activities:    
Proceeds from issuance of medium-term notes 0 647,088
Repayments of medium-term notes (810,950) 0
Repayments of securitization debt 0 (292,671)
Borrowings of asset-backed commercial paper 0 155,000
Repayments of asset-backed commercial paper 0 (65,004)
Net increase (decrease) in unsecured commercial paper 2,364 (140,778)
Net decrease in deposits (59,193) (37,439)
Dividends paid (21,540) (22,921)
Repurchase of common stock (70,018) (93,095)
Other financing activities 0 5
Net cash (used) provided by financing activities (959,337) 150,185
Effect of exchange rate changes on cash, cash equivalents and restricted cash (7,314) 3,299
Net (decrease) increase in cash, cash equivalents and restricted cash (1,286,676) 356,413
Cash, cash equivalents and restricted cash, beginning of period 3,091,744 1,740,854
Net (decrease) increase in cash, cash equivalents and restricted cash (1,286,676) 356,413
Cash, cash equivalents and restricted cash, end of period 1,805,068 2,097,267
Reconciliation of cash, cash equivalents and restricted cash on the Consolidated balance sheets to the Consolidated statements of cash flows:    
Cash and cash equivalents 1,805,068 1,931,175
Restricted cash 0 150,132
Restricted cash included in Other long-term assets 0 15,960
Cash, cash equivalents and restricted cash per the Consolidated statements of cash flows $ 1,805,068 $ 2,097,267