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10-Q Filing

CREDIT ACCEPTANCE CORP CIK: 885550 Q1 2019
Filing Information
Form Type 10-Q
Accession Number 0000885550-19-000034
Period End Date 20190331
Filing Date 20190429
Fiscal Year 2019
Fiscal Period Q1
XBRL Instance cacc-20190331.xml
Balance Sheet 78 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
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 $41.30M USD Point-in-time
Preferred stock, par value (in usd per share) PreferredStockParOrStatedValuePerShare $0.01 USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $25.70M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $11.50M USD Point-in-time
Restricted cash and cash equivalents RestrictedCashAndCashEquivalents $303.60M USD Point-in-time
Restricted cash and cash equivalents RestrictedCashAndCashEquivalents $255.60M USD Point-in-time
Preferred stock, shares authorized PreferredStockSharesAuthorized 1.00M shares Point-in-time
Restricted cash and cash equivalents RestrictedCashAndCashEquivalents $368.50M USD Point-in-time
Restricted cash and cash equivalents RestrictedCashAndCashEquivalents $417.90M USD Point-in-time
Preferred stock, shares authorized PreferredStockSharesAuthorized 1.00M shares Point-in-time
Restricted securities available for sale AvailableForSaleSecuritiesRestricted $62.00M USD Point-in-time
Preferred stock, shares issued PreferredStockSharesIssued 0.00 shares Point-in-time
Preferred stock, shares issued PreferredStockSharesIssued 0.00 shares Point-in-time
Restricted securities available for sale AvailableForSaleSecuritiesRestricted $58.60M USD Point-in-time
Loans receivable LoansAndLeasesReceivableNetOfDeferredIncome $5.50B USD 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 $5.05B USD Point-in-time
Loans receivable LoansAndLeasesReceivableNetOfDeferredIncome $6.62B USD Point-in-time
Loans receivable LoansAndLeasesReceivableNetOfDeferredIncome $6.23B USD Point-in-time
Allowance for credit losses LoansAndLeasesReceivableAllowance $474.20M USD Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 80.00M shares 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
Allowance for credit losses LoansAndLeasesReceivableAllowance $461.90M USD Point-in-time
Allowance for credit losses LoansAndLeasesReceivableAllowance $429.40M USD Point-in-time
Common stock, shares issued CommonStockSharesIssued 18.80M shares Point-in-time
Loans receivable, net LoansAndLeasesReceivableNetReportedAmount $5.76B USD Point-in-time
Loans receivable, net LoansAndLeasesReceivableNetReportedAmount $6.14B USD Point-in-time
Common stock, shares issued CommonStockSharesIssued 18.97M shares Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $43.40M USD Point-in-time
Balance, shares CommonStockSharesOutstanding 18.80M shares Point-in-time
Balance, shares CommonStockSharesOutstanding 18.97M shares Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $40.20M USD Point-in-time
Income taxes receivable IncomeTaxReceivable $7.50M USD Point-in-time
Income taxes receivable IncomeTaxReceivable $7.90M USD Point-in-time
Other assets OtherAssets $38.10M USD Point-in-time
Other assets OtherAssets $34.10M USD Point-in-time
Total Assets Assets $6.24B USD Point-in-time
Total Assets Assets $6.75B USD Point-in-time
Accounts payable and accrued liabilities AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent $192.00M USD Point-in-time
Accounts payable and accrued liabilities AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent $186.40M USD Point-in-time
Revolving secured line of credit LineOfCredit $171.90M USD Point-in-time
Revolving secured line of credit LineOfCredit - USD Point-in-time
Secured financing SecuredDebt $3.28B USD Point-in-time
Secured financing SecuredDebt $3.09B USD Point-in-time
Senior notes SeniorLongTermNotes $544.40M USD Point-in-time
Senior notes SeniorLongTermNotes $939.10M USD Point-in-time
Mortgage note OtherBorrowings $11.90M USD Point-in-time
Mortgage note OtherBorrowings $11.70M USD Point-in-time
Deferred income taxes, net DeferredTaxLiabilities $236.70M USD Point-in-time
Deferred income taxes, net DeferredTaxLiabilities $256.30M USD Point-in-time
Income taxes payable AccruedIncomeTaxes $2.50M USD Point-in-time
Income taxes payable AccruedIncomeTaxes $21.40M USD Point-in-time
Total Liabilities Liabilities $4.25B USD Point-in-time
Total Liabilities Liabilities $4.70B 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, 18,797,071 and 18,972,558 shares issued and outstanding as of March 31, 2019 and December 31, 2018, respectively CommonStockValue $200.00K USD Point-in-time
Common stock, $0.01 par value, 80,000,000 shares authorized, 18,797,071 and 18,972,558 shares issued and outstanding as of March 31, 2019 and December 31, 2018, respectively CommonStockValue $200.00K USD Point-in-time
Paid-in capital AdditionalPaidInCapitalCommonStock $152.20M USD Point-in-time
Paid-in capital AdditionalPaidInCapitalCommonStock $154.90M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $1.84B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $1.90B USD Point-in-time
Accumulated other comprehensive gain (loss) AccumulatedOtherComprehensiveIncomeLossNetOfTax $300.00K USD Point-in-time
Accumulated other comprehensive gain (loss) AccumulatedOtherComprehensiveIncomeLossNetOfTax $-300.00K USD Point-in-time
Total Shareholders' Equity StockholdersEquity $1.66B USD Point-in-time
Total Shareholders' Equity StockholdersEquity $2.05B USD Point-in-time
Total Shareholders' Equity StockholdersEquity $1.54B USD Point-in-time
Total Shareholders' Equity StockholdersEquity $1.99B USD Point-in-time
Total Liabilities and Shareholders' Equity LiabilitiesAndStockholdersEquity $6.75B USD Point-in-time
Total Liabilities and Shareholders' Equity LiabilitiesAndStockholdersEquity $6.24B USD Point-in-time
Income Statement 36 line items
Line Item Tag Value Unit Period
Finance Charges Revenue FinanceChargesRevenue $270.30M USD 1 Quarter
Finance Charges Revenue FinanceChargesRevenue $321.90M USD 1 Quarter
Premiums earned PremiumsEarnedNet $10.30M USD 1 Quarter
Premiums earned PremiumsEarnedNet $12.20M USD 1 Quarter
Other income OtherIncome $15.00M USD 1 Quarter
Other income OtherIncome $19.70M USD 1 Quarter
Total revenue Revenues $353.80M USD 1 Quarter
Total revenue Revenues $295.60M USD 1 Quarter
Salaries and wages LaborAndRelatedExpense $42.50M USD 1 Quarter
Salaries and wages LaborAndRelatedExpense $48.70M 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 $18.80M USD 1 Quarter
Sales and marketing SellingAndMarketingExpense $17.80M USD 1 Quarter
Provision for credit losses ProvisionForLoanAndLeaseLosses $23.40M USD 1 Quarter
Provision for credit losses ProvisionForLoanAndLeaseLosses $14.50M USD 1 Quarter
Interest InterestExpense $34.50M USD 1 Quarter
Interest InterestExpense $45.00M USD 1 Quarter
Provision for claims PolicyholderBenefitsAndClaimsIncurredNet $6.60M USD 1 Quarter
Provision for claims PolicyholderBenefitsAndClaimsIncurredNet $5.20M USD 1 Quarter
Total costs and expenses CostsAndExpenses $137.90M USD 1 Quarter
Total costs and expenses CostsAndExpenses $147.50M USD 1 Quarter
Income before provision for income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $206.30M USD 1 Quarter
Income before provision for income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $157.70M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $37.60M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $41.90M USD 1 Quarter
Net income NetIncomeLoss $120.10M USD 1 Quarter
Net income NetIncomeLoss $164.40M USD 1 Quarter
Basic (in usd per share) EarningsPerShareBasic $8.67 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 $8.65 USD 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 19.44M shares 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 18.96M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 19.47M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 19.00M shares 1 Quarter
Cash Flow Statement 76 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $120.10M USD 1 Quarter
Net income NetIncomeLoss $164.40M USD 1 Quarter
Provision for credit losses ProvisionForLoanAndLeaseLosses $23.40M USD 1 Quarter
Provision for credit losses ProvisionForLoanAndLeaseLosses $14.50M USD 1 Quarter
Depreciation Depreciation $1.30M USD 1 Quarter
Depreciation Depreciation $1.50M USD 1 Quarter
Amortization AmortizationOfFinancingCostsAndDiscounts $2.90M USD 1 Quarter
Amortization AmortizationOfFinancingCostsAndDiscounts $3.60M USD 1 Quarter
Provision for deferred income taxes DeferredIncomeTaxExpenseBenefit $19.10M USD 1 Quarter
Provision for deferred income taxes DeferredIncomeTaxExpenseBenefit $19.50M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $3.10M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $2.20M USD 1 Quarter
Other OtherOperatingActivitiesCashFlowStatement $-100.00K USD 1 Quarter
Other OtherOperatingActivitiesCashFlowStatement - USD 1 Quarter
Increase (decrease) in accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $19.10M USD 1 Quarter
Increase (decrease) in accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-2.60M USD 1 Quarter
Decrease (increase) in income taxes receivable IncreaseDecreaseInIncomeTaxesReceivable $300.00K USD 1 Quarter
Decrease (increase) in income taxes receivable IncreaseDecreaseInIncomeTaxesReceivable $-400.00K USD 1 Quarter
Increase in income taxes payable IncreaseDecreaseInAccruedIncomeTaxesPayable $18.90M USD 1 Quarter
Increase in income taxes payable IncreaseDecreaseInAccruedIncomeTaxesPayable $15.70M USD 1 Quarter
Decrease in other assets IncreaseDecreaseInOtherOperatingAssets $-7.40M USD 1 Quarter
Decrease in other assets IncreaseDecreaseInOtherOperatingAssets $-3.00M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $229.70M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $207.40M USD 1 Quarter
Purchases of restricted securities available for sale PaymentsToAcquireAvailableForSaleSecurities $13.70M USD 1 Quarter
Purchases of restricted securities available for sale PaymentsToAcquireAvailableForSaleSecurities $15.40M 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 $9.40M 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 $757.40M USD 1 Quarter
Principal collected on Loans receivable ProceedsFromCollectionOfLoansReceivable $643.90M USD 1 Quarter
Advances to Dealers AdvancesToDealers $719.00M USD 1 Quarter
Advances to Dealers AdvancesToDealers $709.20M USD 1 Quarter
Purchases of Consumer Loans PaymentsToAcquireLoansReceivable $342.40M USD 1 Quarter
Purchases of Consumer Loans PaymentsToAcquireLoansReceivable $386.40M USD 1 Quarter
Accelerated payments of Dealer Holdback AcceleratedPaymentsOfDealerHoldback $12.60M USD 1 Quarter
Accelerated payments of Dealer Holdback AcceleratedPaymentsOfDealerHoldback $12.30M USD 1 Quarter
Payments of Dealer Holdback PaymentsOfDealerHoldback $34.60M USD 1 Quarter
Payments of Dealer Holdback PaymentsOfDealerHoldback $33.20M USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $4.70M USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $1.20M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-402.20M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-460.30M USD 1 Quarter
Borrowings under revolving secured line of credit ProceedsFromLongTermLinesOfCredit $1.07B USD 1 Quarter
Borrowings under revolving secured line of credit ProceedsFromLongTermLinesOfCredit $465.40M USD 1 Quarter
Repayments under revolving secured line of credit RepaymentsOfLongTermLinesOfCredit $1.24B USD 1 Quarter
Repayments under revolving secured line of credit RepaymentsOfLongTermLinesOfCredit $456.30M USD 1 Quarter
Proceeds from secured financing ProceedsFromIssuanceOfSecuredDebt $814.00M USD 1 Quarter
Proceeds from secured financing ProceedsFromIssuanceOfSecuredDebt $1.00B USD 1 Quarter
Repayments of secured financing RepaymentsOfSecuredDebt $632.20M USD 1 Quarter
Repayments of secured financing RepaymentsOfSecuredDebt $625.90M USD 1 Quarter
Proceeds from issuance of senior notes ProceedsFromIssuanceOfSeniorLongTermDebt $400.00M USD 1 Quarter
Proceeds from issuance of senior notes ProceedsFromIssuanceOfSeniorLongTermDebt - USD 1 Quarter
Payments of debt issuance costs PaymentsOfDebtIssuanceCosts $3.90M USD 1 Quarter
Payments of debt issuance costs PaymentsOfDebtIssuanceCosts $8.90M USD 1 Quarter
Repurchase of common stock PaymentsForRepurchaseOfCommonStock $2.00M USD 1 Quarter
Repurchase of common stock PaymentsForRepurchaseOfCommonStock $109.20M USD 1 Quarter
Other ProceedsFromPaymentsForOtherFinancingActivities $4.30M USD 1 Quarter
Other ProceedsFromPaymentsForOtherFinancingActivities $-1.90M USD 1 Quarter
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivities $302.40M USD 1 Quarter
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivities $369.10M USD 1 Quarter
Net increase in cash and cash equivalents and restricted cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $129.90M USD 1 Quarter
Net increase in cash and cash equivalents and restricted cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $116.20M USD 1 Quarter
Cash and cash equivalents and restricted cash and cash equivalents beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $329.30M USD Point-in-time
Cash and cash equivalents and restricted cash and cash equivalents beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $459.20M USD Point-in-time
Cash and cash equivalents and restricted cash and cash equivalents beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $263.80M USD Point-in-time
Cash and cash equivalents and restricted cash and cash equivalents beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $380.00M USD Point-in-time
Cash and cash equivalents and restricted cash and cash equivalents end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $329.30M USD Point-in-time
Cash and cash equivalents and restricted cash and cash equivalents end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $459.20M USD Point-in-time
Cash and cash equivalents and restricted cash and cash equivalents end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $263.80M USD Point-in-time
Cash and cash equivalents and restricted cash and cash equivalents end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $380.00M 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 $48.80M 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
Stockholders Equity 22 line items
Line Item Tag Value Unit Period
Balance, shares CommonStockSharesOutstanding 18.80M shares Point-in-time
Balance, shares CommonStockSharesOutstanding 18.97M shares Point-in-time
Balance StockholdersEquity $1.66B USD Point-in-time
Balance StockholdersEquity $2.05B USD Point-in-time
Balance StockholdersEquity $1.54B USD Point-in-time
Balance StockholdersEquity $1.99B USD Point-in-time
Net income NetIncomeLoss $120.10M USD 1 Quarter
Net income NetIncomeLoss $164.40M USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $-300.00K USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $600.00K USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $2.20M USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $3.10M USD 1 Quarter
Common stock repurchased, shares StockRepurchasedDuringPeriodShares 6,185.00 shares 1 Quarter
Common stock repurchased, shares StockRepurchasedDuringPeriodShares 268,611.00 shares 1 Quarter
Common stock repurchased, value StockRepurchasedDuringPeriodValue $2.00M USD 1 Quarter
Common stock repurchased, value StockRepurchasedDuringPeriodValue $109.20M USD 1 Quarter
Balance, shares CommonStockSharesOutstanding 18.80M shares Point-in-time
Balance, shares CommonStockSharesOutstanding 18.97M shares Point-in-time
Balance StockholdersEquity $1.66B USD Point-in-time
Balance StockholdersEquity $2.05B USD Point-in-time
Balance StockholdersEquity $1.54B USD Point-in-time
Balance StockholdersEquity $1.99B USD Point-in-time
Comprehensive Income 8 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $120.10M USD 1 Quarter
Net income NetIncomeLoss $164.40M USD 1 Quarter
Unrealized gain (loss) on securities, net of tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $600.00K USD 1 Quarter
Unrealized gain (loss) on securities, net of tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $-300.00K USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $600.00K USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $-300.00K USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $119.80M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $165.00M USD 1 Quarter

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

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