v3.26.3
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Cash Flows from Operating Activities:    
Net income $ 1,401 $ 944
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 202 206
Equity-based compensation expense 75 74
Deferred income taxes 157 (2)
Tax receivable agreement expense 2 105
Loss on disposal of property and equipment 1 3
Loss on debt extinguishment 53 16
Payment-in-kind interest expense 0 182
Provision for bad debt and valuation allowance 11 12
Amortization of debt issuance costs, premium, and original issue discount 13 6
Unrealized loss (gain) on warrants to acquire common stock 62 (3)
Unrealized gain on beneficial interests in securitizations (12) (8)
Changes in finance receivable related assets:    
Originations of finance receivables (14,187) (9,180)
Proceeds from sale of finance receivables, net 14,722 9,583
Gain on loan sales (1,084) (878)
Principal payments received on finance receivables held for sale 201 189
Other changes in assets and liabilities:    
Vehicle inventory (1,025) (676)
Accounts receivable (82) (56)
Other assets (67) (44)
Accounts payable and accrued liabilities 475 153
Operating lease right-of-use assets 9 2
Operating lease liabilities (11) (6)
Other liabilities (16) (16)
Net cash provided by operating activities 900 606
Cash Flows from Investing Activities:    
Purchases of property and equipment (166) (96)
Proceeds from disposal of property and equipment 2 2
Payments for acquisitions, net of cash acquired (40) (51)
Principal payments received on and proceeds from sale of beneficial interests 75 45
Net cash used in investing activities (129) (100)
Cash Flows from Financing Activities:    
Proceeds from short-term revolving facilities 3,956 3,064
Payments on short-term revolving facilities (3,943) (3,058)
Proceeds from issuance of long-term debt 1,841 128
Payments on long-term debt (1,774) (696)
Payments of debt issuance costs (20) (15)
Payments of tax made on behalf of non-controlling members (4) (4)
Net proceeds from issuance of Class A common stock 0 536
Tax receivable agreement payments (37) (17)
Proceeds from equity-based compensation plans 5 38
Tax withholdings related to RSUs (52) (21)
Net cash used in financing activities (28) (45)
Net increase in cash, cash equivalents and restricted cash 743 461
Cash, cash equivalents, and restricted cash at beginning of period 2,429 1,760
Cash, cash equivalents, and restricted cash at end of period $ 3,172 $ 2,221