Supplemental Consolidating Data - Schedule of Cash Flows (Details) - USD ($)
$ in Thousands |
3 Months Ended |
Mar. 31, 2026 |
Mar. 31, 2025 |
| Cash flows from operating activities: |
|
|
| Net income |
$ 24,123
|
$ 130,797
|
| Adjustments to reconcile Net income to Net cash (used) provided by operating activities: |
|
|
| Depreciation and amortization |
44,139
|
41,704
|
| Amortization of deferred loan origination costs |
2,153
|
15,856
|
| Amortization of financing origination fees |
1,351
|
3,269
|
| Income related to long-term employee benefits |
(11,686)
|
(13,763)
|
| Employee benefit plan contributions and payments |
(1,535)
|
(1,556)
|
| Stock compensation expense |
8,543
|
6,815
|
| Net change in wholesale finance receivables related to sales |
(178,721)
|
(270,851)
|
| Provision for credit losses |
13,153
|
53,334
|
| Collections from finance receivables held for sale |
24,950
|
0
|
| Proceeds from sale of finance receivables held for sale |
275,439
|
0
|
| Originations of finance receivables held for sale |
(491,565)
|
|
| Deferred income taxes |
1,942
|
18,573
|
| Other, net |
3,380
|
2,808
|
| Changes in current assets and liabilities: |
|
|
| Accounts receivable, net |
(64,013)
|
(72,586)
|
| Finance receivables – accrued interest and other |
(4,378)
|
(3,496)
|
| Inventories, net |
102,804
|
42,217
|
| Accounts payable and accrued liabilities |
195,710
|
203,281
|
| Other current assets |
(173,810)
|
(14,868)
|
| Total adjustments |
(252,144)
|
10,737
|
| Net cash provided by operating activities |
(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 on 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 securitization debt |
0
|
(292,671)
|
| Borrowings of asset-backed commercial paper |
0
|
155,000
|
| Repayments of asset-backed commercial paper |
0
|
(65,004)
|
| Repayments of medium-term notes |
(810,950)
|
0
|
| Net increase in unsecured commercial paper |
2,364
|
(140,778)
|
| Net increase (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: |
|
|
| Cash, cash equivalents and restricted cash, beginning of period |
3,091,744
|
1,740,854
|
| Net decrease 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
|
| Reportable Legal Entities | Non-Financial Services Entities |
|
|
| Cash flows from operating activities: |
|
|
| Net income |
7,415
|
82,539
|
| Adjustments to reconcile Net income to Net cash (used) provided by operating activities: |
|
|
| Depreciation and amortization |
43,422
|
39,344
|
| Amortization of deferred loan origination costs |
0
|
0
|
| Amortization of financing origination fees |
32
|
182
|
| Income related to long-term employee benefits |
(11,686)
|
(13,763)
|
| Employee benefit plan contributions and payments |
(1,535)
|
(1,556)
|
| Stock compensation expense |
8,043
|
6,241
|
| Net change in wholesale finance receivables related to sales |
0
|
0
|
| Provision for credit losses |
0
|
0
|
| Collections from finance receivables held for sale |
0
|
|
| Proceeds from sale of finance receivables held for sale |
0
|
|
| Originations of finance receivables held for sale |
0
|
|
| Deferred income taxes |
5,761
|
14,735
|
| Other, net |
9,737
|
(5,550)
|
| Changes in current assets and liabilities: |
|
|
| Accounts receivable, net |
(310,862)
|
(334,284)
|
| Finance receivables – accrued interest and other |
0
|
0
|
| Inventories, net |
102,804
|
42,217
|
| Accounts payable and accrued liabilities |
254,255
|
125,876
|
| Other current assets |
(209,049)
|
28,707
|
| Total adjustments |
(109,078)
|
(97,851)
|
| Net cash provided by operating activities |
(101,663)
|
(15,312)
|
| Cash flows from investing activities: |
|
|
| Capital expenditures |
(31,772)
|
(29,935)
|
| Origination of finance receivables held for investment |
0
|
0
|
| Collections on finance receivables held for investment |
0
|
0
|
| Collection of retained securitization beneficial interests |
0
|
|
| Proceeds from derivative instruments |
0
|
|
| Other investing activities |
91
|
171
|
| Net cash (used) provided by investing activities |
(31,681)
|
(29,764)
|
| Cash flows from financing activities: |
|
|
| Proceeds from issuance of medium-term notes |
|
0
|
| Repayments of securitization debt |
|
0
|
| Borrowings of asset-backed commercial paper |
|
0
|
| Repayments of asset-backed commercial paper |
|
0
|
| Repayments of medium-term notes |
0
|
|
| Net increase in unsecured commercial paper |
0
|
0
|
| Net increase (decrease) in deposits |
0
|
0
|
| Dividends paid |
(21,540)
|
(22,921)
|
| Repurchase of common stock |
(70,018)
|
(93,095)
|
| Other financing activities |
|
5
|
| Net cash (used) provided by financing activities |
(91,558)
|
(116,011)
|
| Effect of exchange rate changes on cash, cash equivalents and restricted cash |
(5,787)
|
2,870
|
| Net (decrease) increase in cash, cash equivalents and restricted cash |
(230,689)
|
(158,217)
|
| Cash, cash equivalents and restricted cash: |
|
|
| Cash, cash equivalents and restricted cash, beginning of period |
1,314,917
|
1,105,663
|
| Net decrease in cash, cash equivalents and restricted cash |
(230,689)
|
(158,217)
|
| Cash, cash equivalents and restricted cash, end of period |
1,084,228
|
947,446
|
| Reportable Legal Entities | Financial Services Entities |
|
|
| Cash flows from operating activities: |
|
|
| Net income |
16,664
|
48,051
|
| Adjustments to reconcile Net income to Net cash (used) provided by operating activities: |
|
|
| Depreciation and amortization |
717
|
2,360
|
| Amortization of deferred loan origination costs |
2,153
|
15,856
|
| Amortization of financing origination fees |
1,319
|
3,087
|
| Income related to long-term employee benefits |
0
|
0
|
| Employee benefit plan contributions and payments |
0
|
0
|
| Stock compensation expense |
500
|
574
|
| Net change in wholesale finance receivables related to sales |
0
|
0
|
| Provision for credit losses |
13,153
|
53,334
|
| Collections from finance receivables held for sale |
24,950
|
|
| Proceeds from sale of finance receivables held for sale |
275,439
|
|
| Originations of finance receivables held for sale |
(491,565)
|
|
| Deferred income taxes |
(3,501)
|
4,102
|
| Other, net |
(6,312)
|
8,567
|
| Changes in current assets and liabilities: |
|
|
| Accounts receivable, net |
0
|
0
|
| Finance receivables – accrued interest and other |
(4,378)
|
(3,496)
|
| Inventories, net |
0
|
0
|
| Accounts payable and accrued liabilities |
200,113
|
299,158
|
| Other current assets |
19,609
|
(6,925)
|
| Total adjustments |
32,197
|
376,617
|
| Net cash provided by operating activities |
48,861
|
424,668
|
| Cash flows from investing activities: |
|
|
| Capital expenditures |
(20)
|
(38)
|
| Origination of finance receivables held for investment |
(1,122,001)
|
(1,493,955)
|
| Collections on finance receivables held for investment |
824,644
|
1,317,330
|
| Collection of retained securitization beneficial interests |
10,261
|
|
| Proceeds from derivative instruments |
51,574
|
|
| Other investing activities |
0
|
0
|
| Net cash (used) provided by investing activities |
(235,542)
|
(176,663)
|
| Cash flows from financing activities: |
|
|
| Proceeds from issuance of medium-term notes |
|
647,088
|
| Repayments of securitization debt |
|
(292,671)
|
| Borrowings of asset-backed commercial paper |
|
155,000
|
| Repayments of asset-backed commercial paper |
|
(65,004)
|
| Repayments of medium-term notes |
(810,950)
|
|
| Net increase in unsecured commercial paper |
2,364
|
(140,778)
|
| Net increase (decrease) in deposits |
(59,193)
|
(37,439)
|
| Dividends paid |
0
|
0
|
| Repurchase of common stock |
0
|
0
|
| Other financing activities |
|
0
|
| Net cash (used) provided by financing activities |
(867,779)
|
266,196
|
| Effect of exchange rate changes on cash, cash equivalents and restricted cash |
(1,527)
|
429
|
| Net (decrease) increase in cash, cash equivalents and restricted cash |
(1,055,987)
|
514,630
|
| Cash, cash equivalents and restricted cash: |
|
|
| Cash, cash equivalents and restricted cash, beginning of period |
1,776,827
|
635,191
|
| Net decrease in cash, cash equivalents and restricted cash |
(1,055,987)
|
514,630
|
| Cash, cash equivalents and restricted cash, end of period |
720,840
|
1,149,821
|
| Consolidating Adjustments |
|
|
| Cash flows from operating activities: |
|
|
| Net income |
44
|
207
|
| Adjustments to reconcile Net income to Net cash (used) provided by operating activities: |
|
|
| Depreciation and amortization |
0
|
0
|
| Amortization of deferred loan origination costs |
0
|
0
|
| Amortization of financing origination fees |
0
|
0
|
| Income related to long-term employee benefits |
0
|
0
|
| Employee benefit plan contributions and payments |
0
|
0
|
| Stock compensation expense |
0
|
0
|
| Net change in wholesale finance receivables related to sales |
(178,721)
|
(270,851)
|
| Provision for credit losses |
0
|
0
|
| Collections from finance receivables held for sale |
0
|
|
| Proceeds from sale of finance receivables held for sale |
0
|
|
| Originations of finance receivables held for sale |
0
|
|
| Deferred income taxes |
(318)
|
(264)
|
| Other, net |
(45)
|
(209)
|
| Changes in current assets and liabilities: |
|
|
| Accounts receivable, net |
246,849
|
261,698
|
| Finance receivables – accrued interest and other |
0
|
0
|
| Inventories, net |
0
|
0
|
| Accounts payable and accrued liabilities |
(258,658)
|
(221,753)
|
| Other current assets |
15,630
|
(36,650)
|
| Total adjustments |
(175,263)
|
(268,029)
|
| Net cash provided by operating activities |
(175,219)
|
(267,822)
|
| Cash flows from investing activities: |
|
|
| Capital expenditures |
0
|
0
|
| Origination of finance receivables held for investment |
753,162
|
757,154
|
| Collections on finance receivables held for investment |
(577,943)
|
(489,332)
|
| Collection of retained securitization beneficial interests |
0
|
|
| Proceeds from derivative instruments |
0
|
|
| Other investing activities |
0
|
0
|
| Net cash (used) provided by investing activities |
175,219
|
267,822
|
| Cash flows from financing activities: |
|
|
| Proceeds from issuance of medium-term notes |
|
0
|
| Repayments of securitization debt |
|
0
|
| Borrowings of asset-backed commercial paper |
|
0
|
| Repayments of asset-backed commercial paper |
|
0
|
| Repayments of medium-term notes |
0
|
|
| Net increase in unsecured commercial paper |
0
|
0
|
| Net increase (decrease) in deposits |
0
|
0
|
| Dividends paid |
0
|
0
|
| Repurchase of common stock |
0
|
0
|
| Other financing activities |
|
0
|
| Net cash (used) provided by financing activities |
0
|
0
|
| Effect of exchange rate changes on cash, cash equivalents and restricted cash |
0
|
0
|
| Net (decrease) increase in cash, cash equivalents and restricted cash |
0
|
0
|
| Cash, cash equivalents and restricted cash: |
|
|
| Cash, cash equivalents and restricted cash, beginning of period |
0
|
0
|
| Net decrease in cash, cash equivalents and restricted cash |
0
|
0
|
| Cash, cash equivalents and restricted cash, end of period |
$ 0
|
$ 0
|