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10-Q Filing

CREDIT ACCEPTANCE CORP CIK: 885550 Q1 2018
Filing Information
Form Type 10-Q
Accession Number 0000885550-18-000034
Period End Date 20180331
Filing Date 20180503
Fiscal Year 2018
Fiscal Period Q1
XBRL Instance cacc-20180331.xml
Filing Contents
Balance Sheet 74 line items
Line Item Tag Value Unit Period
Loans receivable, from affiliates DueFromAffiliates - USD Point-in-time
Loans receivable, from affiliates DueFromAffiliates - USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $11.10M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $11.50M USD Point-in-time
Preferred stock, par value (in usd per share) PreferredStockParOrStatedValuePerShare $0.01 USD Point-in-time
Preferred stock, par value (in usd per share) PreferredStockParOrStatedValuePerShare $0.01 USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $8.20M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $14.60M USD Point-in-time
Restricted cash and cash equivalents RestrictedCashAndCashEquivalents $316.70M USD Point-in-time
Preferred stock, shares authorized PreferredStockSharesAuthorized 1.00M shares Point-in-time
Restricted cash and cash equivalents RestrictedCashAndCashEquivalents $255.60M USD Point-in-time
Restricted cash and cash equivalents RestrictedCashAndCashEquivalents $224.70M USD Point-in-time
Restricted cash and cash equivalents RestrictedCashAndCashEquivalents $368.50M USD Point-in-time
Preferred stock, shares authorized PreferredStockSharesAuthorized 1.00M shares Point-in-time
Preferred stock, shares issued PreferredStockSharesIssued 0.00 shares Point-in-time
Restricted securities available for sale AvailableForSaleSecuritiesRestricted $46.10M USD Point-in-time
Restricted securities available for sale AvailableForSaleSecuritiesRestricted $51.30M USD Point-in-time
Preferred stock, shares issued PreferredStockSharesIssued 0.00 shares Point-in-time
Common stock, par value (in usd per share) CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Common stock, par value (in usd per share) CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Loans receivable LoansAndLeasesReceivableNetOfDeferredIncome $4.47B USD Point-in-time
Loans receivable LoansAndLeasesReceivableNetOfDeferredIncome $5.50B USD Point-in-time
Loans receivable LoansAndLeasesReceivableNetOfDeferredIncome $4.21B USD Point-in-time
Loans receivable LoansAndLeasesReceivableNetOfDeferredIncome $5.05B USD Point-in-time
Allowance for credit losses LoansAndLeasesReceivableAllowance $429.40M USD Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 80.00M shares Point-in-time
Allowance for credit losses LoansAndLeasesReceivableAllowance $320.40M USD Point-in-time
Allowance for credit losses LoansAndLeasesReceivableAllowance $338.00M USD Point-in-time
Allowance for credit losses LoansAndLeasesReceivableAllowance $448.40M USD Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 80.00M shares Point-in-time
Loans receivable, net LoansAndLeasesReceivableNetReportedAmount $5.05B USD Point-in-time
Common stock, shares issued CommonStockSharesIssued 19.31M shares Point-in-time
Loans receivable, net LoansAndLeasesReceivableNetReportedAmount $4.62B USD Point-in-time
Common stock, shares issued CommonStockSharesIssued 19.31M shares Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $20.40M USD Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 19.31M shares Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $20.50M USD Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 19.31M shares Point-in-time
Income taxes receivable IncomeTaxReceivable $2.50M USD Point-in-time
Income taxes receivable IncomeTaxReceivable $2.20M USD Point-in-time
Other assets OtherAssets $33.40M USD Point-in-time
Other assets OtherAssets $30.10M USD Point-in-time
Total Assets Assets $4.99B USD Point-in-time
Total Assets Assets $5.53B USD Point-in-time
Accounts payable and accrued liabilities AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent $168.90M USD Point-in-time
Accounts payable and accrued liabilities AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent $151.70M USD Point-in-time
Revolving secured line of credit LineOfCredit $23.00M USD Point-in-time
Revolving secured line of credit LineOfCredit $13.90M USD Point-in-time
Secured financing SecuredDebt $2.51B USD Point-in-time
Secured financing SecuredDebt $2.88B USD Point-in-time
Senior notes SeniorLongTermNotes $543.20M USD Point-in-time
Senior notes SeniorLongTermNotes $542.80M USD Point-in-time
Deferred income taxes, net DeferredTaxLiabilities $206.40M USD Point-in-time
Deferred income taxes, net DeferredTaxLiabilities $187.40M USD Point-in-time
Income taxes payable AccruedIncomeTaxes $39.90M USD Point-in-time
Income taxes payable AccruedIncomeTaxes $55.60M USD Point-in-time
Total Liabilities Liabilities $3.88B USD Point-in-time
Total Liabilities Liabilities $3.45B USD Point-in-time
Commitments and Contingencies - See Note 15 CommitmentsAndContingencies - USD Point-in-time
Commitments and Contingencies - See Note 15 CommitmentsAndContingencies - USD Point-in-time
Preferred stock, $0.01 par value, 1,000,000 shares authorized, none issued PreferredStockValue - USD Point-in-time
Preferred stock, $0.01 par value, 1,000,000 shares authorized, none issued PreferredStockValue - USD Point-in-time
Common stock, $0.01 par value, 80,000,000 shares authorized, 19,309,937 and 19,310,049 shares issued and outstanding as of March 31, 2018 and December 31, 2017, respectively CommonStockValue $200.00K USD Point-in-time
Common stock, $0.01 par value, 80,000,000 shares authorized, 19,309,937 and 19,310,049 shares issued and outstanding as of March 31, 2018 and December 31, 2017, respectively CommonStockValue $200.00K USD Point-in-time
Paid-in capital AdditionalPaidInCapitalCommonStock $145.50M USD Point-in-time
Paid-in capital AdditionalPaidInCapitalCommonStock $147.70M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $1.51B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $1.39B USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-200.00K USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-500.00K USD Point-in-time
Total Shareholders' Equity StockholdersEquity $1.54B USD Point-in-time
Total Shareholders' Equity StockholdersEquity $1.66B USD Point-in-time
Total Liabilities and Shareholders' Equity LiabilitiesAndStockholdersEquity $4.99B USD Point-in-time
Total Liabilities and Shareholders' Equity LiabilitiesAndStockholdersEquity $5.53B USD Point-in-time
Income Statement 36 line items
Line Item Tag Value Unit Period
Finance charges FinancialServicesRevenue $270.30M USD 1 Quarter
Finance charges FinancialServicesRevenue $238.00M USD 1 Quarter
Premiums earned PremiumsEarnedNet $10.30M USD 1 Quarter
Premiums earned PremiumsEarnedNet $10.10M USD 1 Quarter
Other income OtherIncome $15.00M USD 1 Quarter
Other income OtherIncome $14.70M USD 1 Quarter
Total revenue Revenues $262.80M USD 1 Quarter
Total revenue Revenues $295.60M USD 1 Quarter
Salaries and wages LaborAndRelatedExpense $35.50M USD 1 Quarter
Salaries and wages LaborAndRelatedExpense $42.50M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $13.90M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $14.50M USD 1 Quarter
Sales and marketing SellingAndMarketingExpense $17.80M USD 1 Quarter
Sales and marketing SellingAndMarketingExpense $15.10M USD 1 Quarter
Provision for credit losses ProvisionForLoanAndLeaseLosses $23.40M USD 1 Quarter
Provision for credit losses ProvisionForLoanAndLeaseLosses $20.50M USD 1 Quarter
Interest InterestExpense $34.50M USD 1 Quarter
Interest InterestExpense $27.60M USD 1 Quarter
Provision for claims PolicyholderBenefitsAndClaimsIncurredNet $6.00M USD 1 Quarter
Provision for claims PolicyholderBenefitsAndClaimsIncurredNet $5.20M USD 1 Quarter
Total costs and expenses CostsAndExpenses $118.60M USD 1 Quarter
Total costs and expenses CostsAndExpenses $137.90M USD 1 Quarter
Income before provision for income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $157.70M USD 1 Quarter
Income before provision for income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $144.20M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $50.90M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $37.60M USD 1 Quarter
Net income NetIncomeLoss $120.10M USD 1 Quarter
Net income NetIncomeLoss $93.30M USD 1 Quarter
Basic (in usd per share) EarningsPerShareBasic $4.73 USD 1 Quarter
Basic (in usd per share) EarningsPerShareBasic $6.18 USD 1 Quarter
Diluted (in usd per share) EarningsPerShareDiluted $6.17 USD 1 Quarter
Diluted (in usd per share) EarningsPerShareDiluted $4.72 USD 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 19.44M shares 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 19.72M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 19.47M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 19.77M shares 1 Quarter
Cash Flow Statement 72 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $120.10M USD 1 Quarter
Net income NetIncomeLoss $93.30M USD 1 Quarter
Provision for credit losses ProvisionForLoanAndLeaseLosses $23.40M USD 1 Quarter
Provision for credit losses ProvisionForLoanAndLeaseLosses $20.50M USD 1 Quarter
Depreciation Depreciation $1.60M USD 1 Quarter
Depreciation Depreciation $1.30M USD 1 Quarter
Amortization AmortizationOfFinancingCostsAndDiscounts $2.90M USD 1 Quarter
Amortization AmortizationOfFinancingCostsAndDiscounts $2.50M USD 1 Quarter
Provision for deferred income taxes DeferredIncomeTaxExpenseBenefit $40.30M USD 1 Quarter
Provision for deferred income taxes DeferredIncomeTaxExpenseBenefit $19.10M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $3.10M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $2.50M USD 1 Quarter
Increase (decrease) in accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-10.10M USD 1 Quarter
Increase (decrease) in accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $19.10M USD 1 Quarter
Increase in income taxes receivable IncreaseDecreaseInIncomeTaxesReceivable $900.00K USD 1 Quarter
Increase in income taxes receivable IncreaseDecreaseInIncomeTaxesReceivable $300.00K USD 1 Quarter
Increase in income taxes payable IncreaseDecreaseInAccruedIncomeTaxesPayable $9.30M USD 1 Quarter
Increase in income taxes payable IncreaseDecreaseInAccruedIncomeTaxesPayable $15.70M USD 1 Quarter
Decrease in other assets IncreaseDecreaseInOtherOperatingAssets $-3.00M USD 1 Quarter
Decrease in other assets IncreaseDecreaseInOtherOperatingAssets $-2.90M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $161.90M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $207.40M USD 1 Quarter
Purchases of restricted securities available for sale PaymentsToAcquireAvailableForSaleSecurities $13.90M USD 1 Quarter
Purchases of restricted securities available for sale PaymentsToAcquireAvailableForSaleSecurities $13.70M USD 1 Quarter
Proceeds from sale of restricted securities available for sale ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities $6.70M USD 1 Quarter
Proceeds from sale of restricted securities available for sale ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities $9.20M USD 1 Quarter
Maturities of restricted securities available for sale ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities $3.40M USD 1 Quarter
Maturities of restricted securities available for sale ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities $1.40M USD 1 Quarter
Principal collected on Loans receivable ProceedsFromCollectionOfLoansReceivable $567.00M USD 1 Quarter
Principal collected on Loans receivable ProceedsFromCollectionOfLoansReceivable $643.90M USD 1 Quarter
Advances to Dealers AdvancesToDealers $709.20M USD 1 Quarter
Advances to Dealers AdvancesToDealers $536.90M USD 1 Quarter
Purchases of Consumer Loans PaymentsToAcquireLoansReceivable $342.40M USD 1 Quarter
Purchases of Consumer Loans PaymentsToAcquireLoansReceivable $254.60M USD 1 Quarter
Accelerated payments of Dealer Holdback AcceleratedPaymentsOfDealerHoldback $10.20M USD 1 Quarter
Accelerated payments of Dealer Holdback AcceleratedPaymentsOfDealerHoldback $12.60M USD 1 Quarter
Payments of Dealer Holdback PaymentsOfDealerHoldback $35.20M USD 1 Quarter
Payments of Dealer Holdback PaymentsOfDealerHoldback $33.20M USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $1.20M USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $3.20M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-460.30M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-274.40M USD 1 Quarter
Borrowings under revolving secured line of credit ProceedsFromLongTermLinesOfCredit $622.90M USD 1 Quarter
Borrowings under revolving secured line of credit ProceedsFromLongTermLinesOfCredit $465.40M USD 1 Quarter
Repayments under revolving secured line of credit RepaymentsOfLongTermLinesOfCredit $456.30M USD 1 Quarter
Repayments under revolving secured line of credit RepaymentsOfLongTermLinesOfCredit $488.80M USD 1 Quarter
Proceeds from secured financing ProceedsFromIssuanceOfSecuredDebt $736.00M USD 1 Quarter
Proceeds from secured financing ProceedsFromIssuanceOfSecuredDebt $1.00B USD 1 Quarter
Repayments of secured financing RepaymentsOfSecuredDebt $568.00M USD 1 Quarter
Repayments of secured financing RepaymentsOfSecuredDebt $632.20M USD 1 Quarter
Payments of debt issuance costs PaymentsOfDebtIssuanceCosts $3.90M USD 1 Quarter
Payments of debt issuance costs PaymentsOfDebtIssuanceCosts $2.80M USD 1 Quarter
Repurchase of common stock PaymentsForRepurchaseOfCommonStock $105.80M USD 1 Quarter
Repurchase of common stock PaymentsForRepurchaseOfCommonStock $2.00M USD 1 Quarter
Other financing activities ProceedsFromPaymentsForOtherFinancingActivities $-1.90M USD 1 Quarter
Other financing activities ProceedsFromPaymentsForOtherFinancingActivities $7.50M USD 1 Quarter
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivities $369.10M USD 1 Quarter
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivities $201.00M USD 1 Quarter
Net increase in cash, cash equivalents, restricted cash and restricted cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $88.50M USD 1 Quarter
Net increase in cash, cash equivalents, restricted cash and restricted cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $116.20M USD 1 Quarter
Cash, cash equivalents, restricted cash and restricted cash equivalents end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $380.00M USD Point-in-time
Cash, cash equivalents, restricted cash and restricted cash equivalents end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $263.80M USD Point-in-time
Cash, cash equivalents, restricted cash and restricted cash equivalents end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $239.30M USD Point-in-time
Cash, cash equivalents, restricted cash and restricted cash equivalents end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $327.80M USD Point-in-time
Cash, cash equivalents, restricted cash and restricted cash equivalents beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $380.00M USD Point-in-time
Cash, cash equivalents, restricted cash and restricted cash equivalents beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $263.80M USD Point-in-time
Cash, cash equivalents, restricted cash and restricted cash equivalents beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $239.30M USD Point-in-time
Cash, cash equivalents, restricted cash and restricted cash equivalents beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $327.80M USD Point-in-time
Cash paid during the period for interest InterestPaidNet $40.30M USD 1 Quarter
Cash paid during the period for interest InterestPaidNet $34.00M USD 1 Quarter
Cash paid during the period for income taxes IncomeTaxesPaidNet $1.60M USD 1 Quarter
Cash paid during the period for income taxes IncomeTaxesPaidNet $1.80M USD 1 Quarter
Comprehensive Income 8 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $120.10M USD 1 Quarter
Net income NetIncomeLoss $93.30M USD 1 Quarter
Unrealized gain (loss) on securities, net of tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $-300.00K USD 1 Quarter
Unrealized gain (loss) on securities, net of tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $100.00K USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $-300.00K USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $100.00K USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $93.40M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $119.80M USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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