v3.25.4
Supplemental Consolidating Data - Schedule of Cash Flows (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:      
Net income $ 329,154 $ 445,175 $ 695,046
Adjustments to reconcile Net income to Net cash provided by operating activities:      
Depreciation and amortization 172,371 160,673 158,112
Amortization of deferred loan origination costs 45,165 70,745 85,018
Amortization of financing origination fees 13,552 13,963 13,208
Provision for (income) related to long-term employee benefits (55,195) (54,008) (67,624)
Employee benefit plan contributions and payments (6,835) (5,078) (5,736)
Stock compensation expense 31,749 49,005 82,901
Net change in wholesale finance receivables related to sales 64,461 46,884 (387,743)
Provision for credit losses (191,392) 247,225 227,158
Collections from finance receivables held for sale 28,979 0 0
Proceeds from sale of finance receivables held for sale 552,670 0 0
Originations and purchases of finance receivables held for sale (844,232) 0 0
Gain on sale of securitization beneficial interests (27,867) 0 0
Loss on sale of finance receivables 11,378 0 0
Loss on debt extinguishment 72,630 0 0
Deferred income taxes 84,143 (26,276) (30,059)
Other, net 33,174 17,070 (39,713)
Changes in current assets and liabilities:      
Accounts receivable, net 32,646 19,778 (11,443)
Finance receivables – accrued interest and other 43,786 36 (339)
Inventories, net 47,577 164,609 21,257
Accounts payable and accrued liabilities 125,556 (55,436) 28,570
Other current assets 5,452 (30,532) (13,726)
Total change in current assets and liabilities 239,768 618,658 59,841
Net cash provided by operating activities 568,922 1,063,833 754,887
Cash flows from investing activities:      
Capital expenditures (153,679) (196,563) (207,404)
Origination of finance receivables held for investment (2,553,575) (3,639,279) (3,873,542)
Collections of finance receivables held for investment 2,650,199 3,440,340 3,570,822
Proceeds from sale of finance receivables initially held for investment 3,685,613 0 0
Proceeds from sale of securitization beneficial interests, net 125,369 0 0
Collections of retained securitization beneficial interests 23,722 0 0
Other investing activities 1,126 12,172 (2,180)
Net cash provided (used) by investing activities 3,778,775 (383,330) (512,304)
Cash flows from financing activities:      
Proceeds from issuance of medium-term notes 647,088 495,856 1,446,304
Repayments of medium-term notes (1,815,368) (660,780) (1,056,680)
Proceeds from term loan 448,013 0 0
Repayment of term loan (450,000) 0 0
Repayment of senior unsecured notes (450,000) 0 0
Proceeds from securitization debt 497,790 1,145,211 1,045,547
Repayments of securitization debt (781,141) (1,078,248) (1,193,526)
Borrowings of asset-backed commercial paper 155,000 469,986 42,429
Repayments of asset-backed commercial paper (671,526) (258,077) (237,370)
Net decrease in unsecured commercial paper (141,600) (237,340) 107,146
Capital contribution from third parties 46,600 0 0
Net (decrease) increase in deposits (14,711) 102,119 129,855
Dividends paid (86,388) (91,224) (96,310)
Repurchase of common stock (353,270) (459,829) (363,987)
Share repurchases not yet settled (40,000) 0 0
Other financing activities (787) 11 1,946
Net cash used by financing activities (3,010,300) (572,315) (174,646)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 13,493 (16,145) 1,697
Net increase in cash, cash equivalents and restricted cash 1,350,890 92,043 69,634
Reconciliation of cash, cash equivalents and restricted cash on the Consolidated balance sheets to the Consolidated statements of cash flows:      
Cash, cash equivalents and restricted cash, beginning of period 1,740,854 1,648,811 1,579,177
Net increase in cash, cash equivalents and restricted cash 1,350,890 92,043 69,634
Cash, cash equivalents and restricted cash, end of period 3,091,744 1,740,854 1,648,811
Reportable Legal Entities      
Cash flows from financing activities:      
Proceeds from securitization debt   0 0
Reportable Legal Entities | Non-Financial Services Entities      
Cash flows from operating activities:      
Net income 976,716 460,621 712,909
Adjustments to reconcile Net income to Net cash provided by operating activities:      
Depreciation and amortization 163,013 151,316 149,187
Amortization of deferred loan origination costs 0 0 0
Amortization of financing origination fees 2,465 721 709
Provision for (income) related to long-term employee benefits (55,195) (54,008) (67,624)
Employee benefit plan contributions and payments (6,835) (5,078) (5,736)
Stock compensation expense 29,580 46,960 79,311
Net change in wholesale finance receivables related to sales 0 0 0
Provision for credit losses 0 0 0
Collections from finance receivables held for sale 0    
Proceeds from sale of finance receivables held for sale 0    
Originations and purchases of finance receivables held for sale 0    
Gain on sale of securitization beneficial interests 0    
Loss on sale of finance receivables 0    
Loss on debt extinguishment 0    
Deferred income taxes 5,937 (21,136) (26,720)
Other, net 6,799 17,289 (18,480)
Changes in current assets and liabilities:      
Accounts receivable, net 30,585 107,088 (42,312)
Finance receivables – accrued interest and other 0 0 0
Inventories, net 47,577 164,609 21,257
Accounts payable and accrued liabilities 22,072 (27,273) (21,957)
Other current assets 60,801 (110,404) (11,283)
Total change in current assets and liabilities 306,799 270,084 56,352
Net cash provided by operating activities 1,283,515 730,705 769,261
Cash flows from investing activities:      
Capital expenditures (152,670) (194,707) (202,325)
Origination of finance receivables held for investment 0 0 0
Collections of finance receivables held for investment 0 0 0
Proceeds from sale of finance receivables initially held for investment 0    
Proceeds from sale of securitization beneficial interests, net 0    
Collections of retained securitization beneficial interests 0    
Other investing activities 1,126 8,172 (4,680)
Net cash provided (used) by investing activities (151,544) (186,535) (207,005)
Cash flows from financing activities:      
Proceeds from issuance of medium-term notes 0 0 0
Repayments of medium-term notes 0 0 0
Proceeds from term loan 448,013    
Repayment of term loan (450,000)    
Repayment of senior unsecured notes (450,000)    
Proceeds from securitization debt 0    
Repayments of securitization debt 0 0 0
Borrowings of asset-backed commercial paper 0 0 0
Repayments of asset-backed commercial paper 0 0 0
Net decrease in unsecured commercial paper 0 0 0
Capital contribution from third parties 0    
Net (decrease) increase in deposits 0 0 0
Dividends paid (86,388) (91,224) (96,310)
Repurchase of common stock (353,270) (459,829) (363,987)
Share repurchases not yet settled (40,000)    
Other financing activities (789) 11 1,946
Net cash used by financing activities (932,434) (551,042) (458,351)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 9,717 (14,865) 1,697
Net increase in cash, cash equivalents and restricted cash 209,254 (21,737) 105,602
Reconciliation of cash, cash equivalents and restricted cash on the Consolidated balance sheets to the Consolidated statements of cash flows:      
Cash, cash equivalents and restricted cash, beginning of period 1,105,663 1,127,400 1,021,798
Net increase in cash, cash equivalents and restricted cash 209,254 (21,737) 105,602
Cash, cash equivalents and restricted cash, end of period 1,314,917 1,105,663 1,127,400
Reportable Legal Entities | Financial Services Entities      
Cash flows from operating activities:      
Net income 352,237 184,309 181,937
Adjustments to reconcile Net income to Net cash provided by operating activities:      
Depreciation and amortization 9,358 9,357 8,925
Amortization of deferred loan origination costs 45,165 70,745 85,018
Amortization of financing origination fees 11,087 13,242 12,499
Provision for (income) related to long-term employee benefits 0 0 0
Employee benefit plan contributions and payments 0 0 0
Stock compensation expense 2,169 2,045 3,590
Net change in wholesale finance receivables related to sales 0 0 0
Provision for credit losses (191,392) 247,225 227,158
Collections from finance receivables held for sale 28,979    
Proceeds from sale of finance receivables held for sale 552,670    
Originations and purchases of finance receivables held for sale (844,232)    
Gain on sale of securitization beneficial interests (27,867)    
Loss on sale of finance receivables 11,378    
Loss on debt extinguishment 72,630    
Deferred income taxes 78,120 (4,811) (3,663)
Other, net 26,576 25 (21,033)
Changes in current assets and liabilities:      
Accounts receivable, net 0 0 0
Finance receivables – accrued interest and other 43,786 36 (339)
Inventories, net 0 0 0
Accounts payable and accrued liabilities 66,849 (73,795) 67,635
Other current assets (24,616) 9,818 (5,482)
Total change in current assets and liabilities (139,340) 273,887 374,308
Net cash provided by operating activities 212,897 458,196 556,245
Cash flows from investing activities:      
Capital expenditures (1,009) (1,856) (5,079)
Origination of finance receivables held for investment (4,932,753) (6,464,892) (7,284,431)
Collections of finance receivables held for investment 5,101,887 6,340,885 6,611,092
Proceeds from sale of finance receivables initially held for investment 3,685,613    
Proceeds from sale of securitization beneficial interests, net 125,369    
Collections of retained securitization beneficial interests 23,722    
Other investing activities 0 0 0
Net cash provided (used) by investing activities 4,002,829 (125,863) (678,418)
Cash flows from financing activities:      
Proceeds from issuance of medium-term notes 647,088 495,856 1,446,304
Repayments of medium-term notes (1,815,368) (660,780) (1,056,680)
Proceeds from term loan 0    
Repayment of term loan 0    
Repayment of senior unsecured notes 0    
Proceeds from securitization debt 497,790 1,145,211 1,045,547
Repayments of securitization debt (781,141) (1,078,248) (1,193,526)
Borrowings of asset-backed commercial paper 155,000 469,986 42,429
Repayments of asset-backed commercial paper (671,526) (258,077) (237,370)
Net decrease in unsecured commercial paper (141,600) (237,340) 107,146
Capital contribution from third parties 46,600    
Net (decrease) increase in deposits (14,711) 102,119 129,855
Dividends paid (1,000,000) (200,000) (200,000)
Repurchase of common stock 0 0 0
Share repurchases not yet settled 0    
Other financing activities 2 4,000 2,500
Net cash used by financing activities (3,077,866) (217,273) 86,205
Effect of exchange rate changes on cash, cash equivalents and restricted cash 3,776 (1,280) 0
Net increase in cash, cash equivalents and restricted cash 1,141,636 113,780 (35,968)
Reconciliation of cash, cash equivalents and restricted cash on the Consolidated balance sheets to the Consolidated statements of cash flows:      
Cash, cash equivalents and restricted cash, beginning of period 635,191 521,411 557,379
Net increase in cash, cash equivalents and restricted cash 1,141,636 113,780 (35,968)
Cash, cash equivalents and restricted cash, end of period 1,776,827 635,191 521,411
Consolidating Adjustments      
Cash flows from operating activities:      
Net income (999,799) (199,755) (199,800)
Adjustments to reconcile Net income to Net cash provided by operating activities:      
Depreciation and amortization 0 0 0
Amortization of deferred loan origination costs 0 0 0
Amortization of financing origination fees 0 0 0
Provision for (income) related to long-term employee benefits 0 0 0
Employee benefit plan contributions and payments 0 0 0
Stock compensation expense 0 0 0
Net change in wholesale finance receivables related to sales 64,461 46,884 (387,743)
Provision for credit losses 0 0 0
Collections from finance receivables held for sale 0    
Proceeds from sale of finance receivables held for sale 0    
Originations and purchases of finance receivables held for sale 0    
Gain on sale of securitization beneficial interests 0    
Loss on sale of finance receivables 0    
Loss on debt extinguishment 0    
Deferred income taxes 86 (329) 324
Other, net (201) (244) (200)
Changes in current assets and liabilities:      
Accounts receivable, net 2,061 (87,310) 30,869
Finance receivables – accrued interest and other 0 0 0
Inventories, net 0 0 0
Accounts payable and accrued liabilities 36,635 45,632 (17,108)
Other current assets (30,733) 70,054 3,039
Total change in current assets and liabilities 72,309 74,687 (370,819)
Net cash provided by operating activities (927,490) (125,068) (570,619)
Cash flows from investing activities:      
Capital expenditures 0 0 0
Origination of finance receivables held for investment 2,379,178 2,825,613 3,410,889
Collections of finance receivables held for investment (2,451,688) (2,900,545) (3,040,270)
Proceeds from sale of finance receivables initially held for investment 0    
Proceeds from sale of securitization beneficial interests, net 0    
Collections of retained securitization beneficial interests 0    
Other investing activities 0 4,000 2,500
Net cash provided (used) by investing activities (72,510) (70,932) 373,119
Cash flows from financing activities:      
Proceeds from issuance of medium-term notes 0 0 0
Repayments of medium-term notes 0 0 0
Proceeds from term loan 0    
Repayment of term loan 0    
Repayment of senior unsecured notes 0    
Proceeds from securitization debt 0 0 0
Repayments of securitization debt 0 0 0
Borrowings of asset-backed commercial paper 0 0 0
Repayments of asset-backed commercial paper 0 0 0
Net decrease in unsecured commercial paper 0 0 0
Capital contribution from third parties 0    
Net (decrease) increase in deposits 0 0 0
Dividends paid 1,000,000 200,000 200,000
Repurchase of common stock 0 0 0
Share repurchases not yet settled 0    
Other financing activities 0 (4,000) (2,500)
Net cash used by financing activities 1,000,000 196,000 197,500
Effect of exchange rate changes on cash, cash equivalents and restricted cash 0 0 0
Net increase in cash, cash equivalents and restricted cash 0 0 0
Reconciliation of cash, cash equivalents and restricted cash on the Consolidated balance sheets to the Consolidated statements of cash flows:      
Cash, cash equivalents and restricted cash, beginning of period 0 0 0
Net increase in cash, cash equivalents and restricted cash 0 0 0
Cash, cash equivalents and restricted cash, end of period $ 0 $ 0 $ 0