Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2018	Apr. 30, 2018
Document And Entity Information [Abstract]
Entity Registrant Name	Santander Consumer USA Holdings Inc.
Entity Central Index Key	0001580608
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Mar. 31, 2018
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding		361,263,822

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Assets
Cash and cash equivalents - $188,747 and $106,295 held at affiliates, respectively	$ 618,809	$ 527,805
Finance receivables held for sale, net	1,611,535	2,210,421
Finance receivables held for investment, net	22,587,358	22,427,769
Restricted cash - $1,802 and $2,529 held at affiliates, respectively	2,895,615	2,553,902
Accrued interest receivable	269,258	326,640
Leased vehicles, net	10,612,824	10,160,327
Furniture and equipment, net of accumulated depreciation of $58,650 and $55,525, respectively	65,961	69,609
Federal, state and other income taxes receivable	99,099	95,060
Related party taxes receivable	634	467
Goodwill	74,056	74,056
Intangible assets, net of amortization of $45,900 and $36,616, respectively	31,088	29,734
Due from affiliates	53,408	33,270
Other assets	1,125,543	913,244
Total assets	40,045,188	39,422,304
Liabilities:
Notes payable — credit facilities	5,294,358	4,848,316
Notes payable — secured structured financings	22,862,607	22,557,895
Notes payable — related party	3,148,194	3,754,223
Accrued interest payable	38,375	38,529
Accounts payable and accrued expenses	430,361	429,531
Deferred tax liabilities, net	966,444	897,121
Due to affiliates	103,012	82,382
Other liabilities	475,822	333,806
Total liabilities	33,319,173	32,941,803
Commitments and contingencies (Notes 5 and 10)
Equity:
Common stock, $0.01 par value - 1,100,000,000 shares authorized; 361,260,828 and 360,779,465 shares issued and 361,008,826 and 360,527,463 shares outstanding, respectively	3,610	3,605
Additional paid-in capital	1,689,996	1,681,558
Accumulated other comprehensive income, net	63,211	44,262
Retained earnings	4,969,198	4,751,076
Total stockholders’ equity	6,726,015	6,480,501
Total liabilities and equity	40,045,188	39,422,304
Assets
Restricted cash	2,380,619	1,995,557
Finance receivables held for sale, net	452,984	1,106,393
Finance receivables held for investment, net	21,760,294	21,715,365
Leased vehicles, net	10,612,824	10,160,327
Various other assets	810,497	733,123
Total assets	36,017,218	35,710,765
Liabilities
Notes payable	28,634,202	28,467,942
Various other liabilities	193,133	197,969
Total liabilities	$ 28,827,335	$ 28,665,911

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Cash and cash equivalents held for affiliates	$ 188,747	$ 106,295
Restricted cash held for affiliates	1,802	2,529
Accumulated depreciation	58,650	55,525
Accumulated amortization	$ 45,900	$ 36,616
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized	1,100,000,000	1,100,000,000
Common stock, shares issued	361,260,828	360,779,465
Common stock, shares outstanding	361,008,826	360,527,463

CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Income Statement [Abstract]
Interest on finance receivables and loans	$ 1,114,137	$ 1,209,186
Leased vehicle income	504,278	418,233
Other finance and interest income	7,137	3,825
Total finance and other interest income	1,625,552	1,631,244
Interest expense — Including $42,033 and $37,724 to affiliates, respectively	241,028	227,089
Leased vehicle expense	358,683	290,171
Net finance and other interest income	1,025,841	1,113,984
Provision for credit losses	458,995	635,013
Net finance and other interest income after provision for credit losses	566,846	478,971
Profit sharing	4,377	7,945
Net finance and other interest income after provision for credit losses and profit sharing	562,469	471,026
Investment gains (losses), net — Including $(16,903) and $2,719 from affiliates, respectively	(86,520)	(76,399)
Servicing fee income — Including $7,811 and $3,263 from affiliates, respectively	26,182	31,684
Fees, commissions, and other — Including $225 and $225 from affiliates, respectively	85,391	100,195
Total other income	25,053	55,480
Compensation expense	122,005	136,262
Repossession expense	72,081	71,299
Other operating costs — Including $1,161 and $21,644 to affiliates, respectively	93,826	97,517
Total operating expenses	287,912	305,078
Income before income taxes	299,610	221,428
Income tax expense	57,311	78,001
Net income	242,299	143,427
Other comprehensive income (loss):
Change in unrealized gains (losses) on cash flow hedges, net of tax of $2,903 and $4,327, respectively	12,800	7,245
Comprehensive income	$ 255,099	$ 150,672
Net income per common share (basic) (in usd per share)	$ 0.67	$ 0.40
Net income per common share (diluted) (in usd per share)	0.67	0.40
Dividend paid per common share (in usd per share)	$ 0.05	$ 0
Weighted average common shares (basic) (in shares)	360,703,234	359,105,050
Weighted average common shares (diluted) (in shares)	361,616,732	360,616,032

CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Income Statement [Abstract]
Interest expense to affiliates	$ 42,033	$ 37,724
Investment losses, net from affiliates	(16,903)	2,719
Servicing fee income from affiliates	7,811	3,263
Fees, commissions and other from affiliates	225	225
Other operating costs to affiliates	1,161	21,644
Change in unrealized gains (losses) on cash flow hedges, tax	$ 2,903	$ 4,327

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY (Unaudited) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Income (Loss)	Retained Earnings
Beginning balance (in shares) at Dec. 31, 2016		358,908,000
Beginning balance, unrealized gains (losses) on cash flow hedges at Dec. 31, 2016	$ 5,238,619	$ 3,589	$ 1,657,611	$ 28,259	$ 3,549,160
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cumulative-effect adjustment upon adoption of ASU	26,552		1,439		25,113
Stock issued in connection with employee incentive compensation plans (in shares)		487,000
Stock issued in connection with employee incentive compensation plans	1,090	$ 5	1,085
Stock-based compensation expense	2,067
Tax sharing with affiliate	(2)		(2)
Net income	143,427				143,427
Other comprehensive income (loss), net of taxes	7,245			7,245
Ending balance (in shares) at Mar. 31, 2017		359,395,000
Ending balance, unrealized gains (losses) on cash flow hedges at Mar. 31, 2017	$ 5,418,998	$ 3,594	1,662,200	35,504	3,717,700
Beginning balance (in shares) at Dec. 31, 2017	360,527,463	360,527,000
Beginning balance, unrealized gains (losses) on cash flow hedges at Dec. 31, 2017	$ 6,480,501	$ 3,605	1,681,558	44,262	4,751,076
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cumulative-effect adjustment upon adoption of ASU	0			6,149	(6,149)
Stock issued in connection with employee incentive compensation plans (in shares)		481,000
Stock issued in connection with employee incentive compensation plans	469	$ 5	464
Stock-based compensation expense	4,208
Purchase of treasury stock (in shares)		0
Purchase of treasury stock	0		0
Dividends	(18,028)				(18,028)
Tax sharing with affiliate	3,766		3,766
Net income	242,299				242,299
Other comprehensive income (loss), net of taxes	$ 12,800			12,800
Ending balance (in shares) at Mar. 31, 2018	361,008,826	361,008,000
Ending balance, unrealized gains (losses) on cash flow hedges at Mar. 31, 2018	$ 6,726,015	$ 3,610	$ 1,689,996	$ 63,211	$ 4,969,198

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Cash flows from operating activities:
Net income	$ 242,299	$ 143,427
Adjustments to reconcile net income to net cash provided by operating activities
Derivative mark to market	(7,164)	(760)
Provision for credit losses	458,995	635,013
Depreciation and amortization	392,847	317,154
Accretion of discount	(48,075)	(69,945)
Originations and purchases of receivables held for sale	(1,019,425)	(818,817)
Proceeds from sales of and collections on receivables held for sale	1,551,109	973,118
Change in revolving personal loans	5,722	(5,064)
Investment losses, net	86,520	76,399
Stock-based compensation	4,208	2,067
Deferred tax expense	64,048	86,218
Changes in assets and liabilities:
Accrued interest receivable	37,118	49,650
Accounts receivable	11,760	(8,420)
Federal income tax and other taxes	(4,215)	(5,415)
Other assets	(46,923)	(10,435)
Accrued interest payable	(2,529)	1,086
Other liabilities	113,090	53,708
Due to/from affiliates	(4,150)	45,026
Net cash provided by operating activities	1,835,235	1,464,010
Cash flows from investing activities:
Originations of and disbursements on finance receivables held for investment	(3,253,263)	(2,985,822)
Purchases of portfolios of finance receivables held for investment	(43,177)	(152,208)
Collections on finance receivables held for investment	2,673,428	2,585,085
Leased vehicles purchased	(2,118,545)	(1,608,151)
Manufacturer incentives received	215,113	330,017
Proceeds from sale of leased vehicles	957,863	625,628
Change in revolving personal loans	45,184	49,236
Purchases of furniture and equipment	(1,012)	(7,551)
Sales of furniture and equipment	57	409
Other investing activities	(3,705)	(1,931)
Net cash used in investing activities	(1,528,057)	(1,165,288)
Cash flows from financing activities:
Proceeds from notes payable related to secured structured financings — net of debt issuance costs	3,687,932	5,692,771
Payments on notes payable related to secured structured financings	(3,386,999)	(3,638,774)
Proceeds from unsecured notes payable	0	4,315,000
Payments on unsecured notes payable	0	(3,887,283)
Proceeds from notes payable	7,795,002	4,772,034
Payments on notes payable	(7,954,759)	(7,105,930)
Proceeds from stock option exercises, gross	2,391	3,543
Dividends paid	(18,028)	0
Net cash provided by financing activities	125,539	151,361
Net increase in cash and cash equivalents and restricted cash	432,717	450,083
Cash and cash equivalent and restricted cash — Beginning of period	3,081,707	2,917,479
Cash and cash equivalents and restricted cash — End of period	3,514,424	3,367,562
Noncash investing and financing transactions:
Transfer of notes payable between secured and unsecured notes payable	$ 300,000	$ 120,748

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017	Dec. 31, 2016
Supplemental cash flow information:
Cash and cash equivalents	$ 618,809	$ 527,805	$ 420,826
Restricted cash	2,895,615	2,553,902	2,946,736
Total cash and cash equivalents and restricted cash	$ 3,514,424	$ 3,081,707	$ 3,367,562	$ 2,917,479

Description of Business, Basis of Presentation, and Significant Accounting Policies and Practices

3 Months Ended

Mar. 31, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Description of Business, Basis of Presentation, and Significant Accounting Policies and Practices

Santander Consumer USA Holdings Inc., a Delaware corporation (together with its subsidiaries, SC or the Company), is the holding company for Santander Consumer USA Inc., an Illinois corporation (SC Illinois), and its subsidiaries, a specialized consumer finance company focused on vehicle finance and third-party servicing. The Company’s primary business is the indirect origination and securitization of retail installment contracts principally through manufacturer-franchised dealers in connection with their sale of new and used vehicles to retail consumers.

Since May 1, 2013, under the terms of a ten-year private label financing agreement (the Chrysler Agreement) with Fiat Chrysler Automobiles US LLC (FCA), the Company has been FCA's preferred provider for consumer loans and leases and dealer loans. In conjunction with the Chrysler Agreement, the Company offers a full spectrum of auto financing products and services to FCA customers and dealers under the Chrysler Capital brand. These products and services include consumer retail installment contracts and leases, as well as dealer loans for inventory, construction, real estate, working capital and revolving lines of credit. Retail installment contracts and vehicle leases entered into with FCA customers, as part of the Chrysler Agreement, represent a significant concentration of those portfolios and there is a risk that the Chrysler Agreement could be terminated prior to its expiration date. Termination of the Chrysler Agreement could result in a decrease in the amount of new retail installment contracts and vehicle leases entered into with FCA customers.

The Company also originates vehicle loans through a web-based direct lending program, purchases vehicle retail installment contracts from other lenders, and services automobile and recreational and marine vehicle portfolios for other lenders. Additionally, the Company has other relationships through which it provides personal loans, private-label revolving lines and other consumer finance products.

As of March 31, 2018, the Company was owned approximately 68.0% by Santander Holdings USA, Inc. (SHUSA), a subsidiary of Banco Santander, S.A. (Santander), and approximately 32.0% by other shareholders.

Basis of Presentation

The accompanying condensed consolidated financial statements include the accounts of the Company and its subsidiaries, including certain Trusts, which are considered VIEs. The Company also consolidates other VIEs for which it was deemed to be the primary beneficiary. All intercompany balances and transactions have been eliminated in consolidation.

The accompanying condensed consolidated financial statements as of March 31, 2018 and December 31, 2017, and for the three months ended March 31, 2018 and 2017, have been prepared in accordance with U.S. GAAP for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, these financial statements contain all adjustments, consisting of normal recurring adjustments, necessary for the fair statement of the financial position, results of operations and cash flows for the periods indicated. Results of operations for the periods presented herein are not necessarily indicative of results of operations for the entire year. These financial statements should be read in conjunction with the 2017 Annual Report on Form 10-K.

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and the disclosures of contingent assets and liabilities, as of the date of the financial statements and the amount of revenue and expenses during the reporting periods. Actual results could differ from those estimates and those differences may be material. These estimates include the determination of credit loss allowance, discount accretion, impairment, fair value, expected end-of-term lease residual values, values of repossessed assets, and income taxes. These estimates, although based on actual historical trends and modeling, may potentially show significant variances over time.

Business Segment Information

The Company has one reportable segment: Consumer Finance, which includes the Company’s vehicle financial products and services, including retail installment contracts, vehicle leases, and dealer loans, as well as financial products and services related to recreational vehicles, and marine vehicles. It also includes the Company’s personal loan and point-of-sale financing operations.

Accounting Policies

There have been no material changes in the Company's accounting policies from those disclosed in Part II, Item 8 - Financial Statements and Supplementary Data in the 2017 Annual Report on Form 10-K.

Recently Adopted Accounting Standards

Since January 1, 2018, the Company adopted the following Financial Accounting Standards Board (FASB) Accounting Standards Updates (ASUs):

•

ASU 2014-09, Revenue from Contracts with Customers (Topic 606) as amended. This ASU, requires an entity to recognize revenue for the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. It includes a five-step process to assist an entity in achieving the main principles of revenue recognition under ASC 606. Because the ASU does not apply to revenue associated with leases and financial instruments (including loans, securities, and derivatives), it did not have a material impact on the elements of the Company's Consolidated Statements of Operations most closely associated with leases and financial instruments (such as interest income, interest expense and investment gains and losses). All other revenue streams in the scope of the new standard were not material. The Company adopted this standard as of January 1, 2018 using a modified retrospective approach. The adoption of this standard did not require any adjustments to the opening balance of retained earnings as of January 1, 2018.

•

ASU 2016-18, Statement of Cash Flows (Topic 230). Restricted Cash (A consensus of the FASB Emerging Issues Task Force), which requires that the statement of cash flows include restricted cash in the beginning and end-of-period total amounts shown on the statement of cash flows and that the statement of cash flows explain changes in restricted cash during the period. The Company adopted this standard as of January 1, 2018 using retrospective approach. The impact of this adoption was disclosure only for periods presented on the Company's Statements of Cash Flows.

•

ASU 2017-12, Derivatives and Hedging: Targeted Improvements to Accounting for Hedging Activities. The new guidance amends the hedge accounting model to enable entities to more accurately reflect their risk management activities in the financial statements. The amendments expand an entity’s ability to hedge nonfinancial and financial risk components and reduce complexity in hedges of interest rate risk. The guidance eliminates the requirement to separately measure and report hedge ineffectiveness and generally requires the entire change in the fair value of a hedging instrument to be presented in the same income statement line in which the earnings effect of the hedged item is reported. The new guidance is effective for public business entities for fiscal years beginning after December 15, 2018, with early adoption, including adoption in an interim period, permitted. The Company elected to early adopt this standard as of January 1, 2018 using modified retrospective approach. The adoption of this standard did not require any adjustments to the opening balance of retained earnings for cumulative-effect adjustment related to eliminating the separate measurement of ineffectiveness.

•

ASU 2018-02, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. The amendments in this ASU allow a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act. The new guidance is effective for public business entities for fiscal years beginning after December 15, 2018, with early adoption, including adoption in an interim period, permitted. The Company elected to early adopt this standard as of January 1, 2018 and has reclassified $6,149 stranded income tax effects from accumulated other comprehensive income to retained earnings.

The adoption of the following ASUs did not have an impact on the Company's business financial position or results of operations.


•	ASU 2016-01, Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities, as amended


•	ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments


•	ASU 2016-16, Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory


•	ASU 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business


•	ASU 2017-05, Other Income - Gains and Losses from the Derecognition of Nonfinancial Assets (Subtopic 610-20): Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets


•	ASU 2017-07, Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost


•	ASU 2017-09, Compensation-Stock Compensation (Topic 718): Scope of Modification Accounting


•	ASU 2018-05, Income Taxes (Topic 740): Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 118

Recently Issued Accounting Pronouncements

In February 2016, the FASB issued ASU 2016-02, Leases, which will, among other impacts, change the criteria under which leases are identified and accounted for as on- or off-balance sheet. The guidance will be effective for the fiscal year beginning after December 15, 2018, including interim periods within that year. Once effective, the new guidance must be applied for all periods presented. The Company is in the process of reviewing its existing property and equipment lease contracts as well as service contracts that may include embedded leases. Upon adoption, the Company will gross up its balance sheet by the present value of future minimum lease payments for these operating leases. The Company does not intend to early adopt this ASU.

In June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses, which changes the criteria under which credit losses are measured. The amendment introduces a new credit reserving model known as the Current Expected Credit Loss (CECL) model, which replaces the incurred loss impairment methodology in current U.S. GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to establish credit loss estimates. The guidance will be effective for the fiscal year beginning after December 15, 2019, including interim periods within that year. The Company does not intend to adopt the new standard early and is currently evaluating the impact the new guidance will have on its financial position, results of operations and cash flows; however, it is expected that the new CECL model will alter the assumptions used in calculating the Company's credit losses, given the change to estimated losses for the estimated life of the financial asset, and will likely result in material changes to the Company’s credit and capital reserves.

In addition to those described in detail above, the Company is also in the process of evaluating the following ASUs and does not expect them to have a material impact on the Company's business, financial position, results of operations or disclosures:


•	ASU 2017-06, Plan Accounting: Defined Benefit Pension Plans (Topic 960), Defined Contribution Pension Plans (Topic 962), Health and Welfare Benefit Plans (Topic 965): Employee Benefit Plan Master Trust Reporting (a consensus of the Emerging Issues Task Force)


•	ASU 2017-08, Receivables - Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities

•

ASU 2017-11, Earnings Per Share (Topic 260); Distinguishing Liabilities from Equity (Topic 480); Derivatives and Hedging (Topic 815): (Part I) Accounting for Certain Financial Instruments with Down Round Features, (Part II) Replacement of the Indefinite Deferral for Mandatorily Redeemable Financial Instruments of Certain Nonpublic Entities and Certain Mandatorily Redeemable Noncontrolling Interests with a Scope Exception.

Finance Receivables

3 Months Ended

Mar. 31, 2018

Receivables [Abstract]

Finance Receivables

Held For Investment

Finance receivables held for investment, net is comprised of the following at March 31, 2018 and December 31, 2017:



	March 31, 2018		December 31, 2017
Retail installment contracts acquired individually (a)	$	22,526,948	$	22,362,509
Purchased receivables	25,345		27,839
Receivables from dealers	15,334		15,623
Personal loans	3,582		4,459
Capital lease receivables (Note 3)	16,149		17,339
Finance receivables held for investment, net	$	22,587,358	$	22,427,769

(a) The Company has elected the fair value option for certain retail installment contracts reported in finance receivables held for investment, net. As at March 31, 2018 and December 31, 2017, $18,850 and $22,124 of loans were recorded at fair value (Note 13).

The Company's held for investment portfolio of retail installment contracts acquired individually, receivables from dealers, and personal loans is comprised of the following at March 31, 2018 and December 31, 2017:



	March 31, 2018
	Retail Installment Contracts Acquired Individually						Receivables from Dealers			Personal Loans
	Non-TDR			TDR			Receivables from Dealers			Personal Loans
Unpaid principal balance	$	19,987,763		$	5,998,768		$	15,495		$	5,158
Credit loss allowance - specific	—			(1,595,465		)	—			—
Credit loss allowance - collective	(1,586,557		)	—			(161		)	(1,714		)
Discount	(281,345		)	(64,034		)	—			—
Capitalized origination costs and fees	62,400			5,418			—			138
Net carrying balance	$	18,182,261		$	4,344,687		$	15,334		$	3,582



	December 31, 2017
	Retail Installment Contracts Acquired Individually						Receivables from Dealers			Personal Loans
	Non-TDR			TDR			Receivables from Dealers			Personal Loans
Unpaid principal balance	$	19,681,394		$	6,261,894		$	15,787		$	6,887
Credit loss allowance - specific	—			(1,731,320		)	—
Credit loss allowance - collective	(1,529,815		)	—			(164		)	(2,565		)
Discount	(309,191		)	(74,832		)	—			(1		)
Capitalized origination costs and fees	58,638			5,741			—			138
Net carrying balance	$	17,901,026		$	4,461,483		$	15,623		$	4,459

Retail installment contracts

Retail installment contracts are collateralized by vehicle titles, and the Company has the right to repossess the vehicle in the event the consumer defaults on the payment terms of the contract. Most of the Company’s retail installment contracts held for investment are pledged against warehouse lines or securitization bonds (Note 5). Most of the borrowers on the Company’s retail installment contracts held for investment are retail consumers; however, $579,578 and $641,003 of the unpaid principal balance represented fleet contracts with commercial borrowers as of March 31, 2018 and December 31, 2017, respectively.

During the three months ended March 31, 2018 and 2017, the Company originated $1,962,180 and $1,588,506, respectively, in Chrysler Capital loans which represented 46% and 42%, respectively, of the total retail installment contract originations. As of March 31, 2018 and December 31, 2017, the Company's auto retail installment contract portfolio consisted of $7,045,671 and $8,234,653, respectively, of Chrysler loans which represents 31% and 37%, respectively, of the Company's auto retail installment contract portfolio.

As of March 31, 2018, borrowers on the Company’s retail installment contracts held for investment are located in Texas (16%), Florida (12%), California (9%), Georgia (6%) and other states each individually representing less than 5% of the Company’s total portfolio.

Purchased receivables

Purchased receivables portfolios, which were acquired with deteriorated credit quality, is comprised of the following at March 31, 2018 and December 31, 2017:



	March 31, 2018		December 31, 2017
Outstanding balance	$	39,361	$	43,474
Outstanding recorded investment, net of impairment	25,534		28,069

Changes in accretable yield on the Company’s purchased receivables portfolios for the periods indicated were as follows:



	For the Three Months Ended March 31,
	2018			2017
Balance — beginning of period	$	19,464		$	107,041
Accretion of accretable yield	(2,840		)	(11,144		)
Disposals/transfers	—			—
Reclassifications from (to) nonaccretable difference (a)	1,822			2,049
Balance — end of period	$	18,446		$	97,946

(a) Reclassifications from (to) nonaccretable difference represents the increases (decreases) in accretable yield resulting from higher (lower) estimated undiscounted cash flows.

During the three months ended March 31, 2018 and 2017, the Company did not acquire any vehicle loan portfolios for which it was probable at acquisition that not all contractually required payments would be collected. However, during the three months ended March 31, 2018 and 2017, the Company recognized certain retail installment contracts with an unpaid principal balance of $42,996 and $152,208, respectively, held by non-consolidated securitization Trusts, under optional clean-up calls (Note 6). Following the initial recognition of these loans at fair value, the performing loans in the portfolio are carried at amortized cost, net of allowance for credit losses. The Company elected the fair value option for all non-performing loans acquired (more than 60 days delinquent as of re-recognition date), for which it was probable that not all contractually required payments would be collected (Note 13).

Receivable from Dealers

The receivables from dealers held for investment are all Chrysler Agreement-related. As of March 31, 2018, borrowers on these dealer receivables are located in Virginia (62%), New York (27%), Missouri (10%) and Wisconsin (1%).

Personal Loans

At September 30, 2016, the Company determined that its intent to sell certain personal revolving loans had changed and now expects to hold these loans through their maturity. The Company recorded a lower of cost or market adjustment through investment gains (losses), net, immediately prior to transferring the loans to finance receivables held for investment at their new recorded investment. The carrying value of these loans was $3,582 and $4,459 at March 31, 2018 and December 31, 2017, respectively.

Held For Sale

The carrying value of the Company's finance receivables held for sale, net is comprised of the following at March 31, 2018 and December 31, 2017:



	March 31, 2018		December 31, 2017
Retail installment contracts acquired individually	$	643,746	$	1,148,332
Personal loans	967,789		1,062,089
Finance receivables held for sale, net	$	1,611,535	$	2,210,421

Sales of retail installment contracts and proceeds from sales of charged-off assets for the three months ended March 31, 2018 and 2017 were as follows:



	For the Three Months Ended March 31,
	2018		2017
Sales of retail installment contracts to third parties	$	—	$	230,568
Sales of retail installment contracts to affiliates	1,475,253		700,022
Proceeds from sales of charged-off assets to third parties	18,237		21,343

The Company retains servicing of retail installment contracts and leases sold to third parties. Total contracts sold to unrelated third parties and serviced as of March 31, 2018 and December 31, 2017 were as follows:



	March 31, 2018		December 31, 2017
Serviced balance of retail installment contracts and leases sold to third parties	$	4,965,059	$	5,771,085

Leases

3 Months Ended

Mar. 31, 2018

Leases [Abstract]

Leases

The Company has both operating and capital leases, which are separately accounted for and recorded on the Company's condensed consolidated balance sheets. Operating leases are reported as leased vehicles, net, while capital leases are included in finance receivables held for investment, net.

Operating Leases

Leased vehicles, net, which is comprised of leases originated under the Chrysler Agreement, consisted of the following as of March 31, 2018 and December 31, 2017:



	March 31, 2018			December 31, 2017
Leased vehicles	$	14,660,698		$	14,285,769
Less: accumulated depreciation	(3,007,858		)	(3,110,167		)
Depreciated net capitalized cost	11,652,840			11,175,602
Manufacturer subvention payments, net of accretion	(1,076,716		)	(1,042,477		)
Origination fees and other costs	36,700			27,202
Net book value	$	10,612,824		$	10,160,327

The following summarizes the future minimum rental payments due to the Company as lessor under operating leases as of March 31, 2018:




Remainder of 2018	$	1,376,726
2019	1,309,509
2020	634,099
2021	49,097
2022	153
Thereafter	—
Total	$	3,369,584

Capital Leases

Certain leases originated by the Company are accounted for as capital leases, as the contractual residual values are nominal amounts. Capital lease receivables, net consisted of the following as of March 31, 2018 and December 31, 2017:



	March 31, 2018			December 31, 2017
Gross investment in capital leases	$	25,992		$	27,234
Origination fees and other	155			124
Less: unearned income	(4,241		)	(4,377		)
Net investment in capital leases before allowance	21,906			22,981
Less: allowance for lease losses	(5,757		)	(5,642		)
Net investment in capital leases	$	16,149		$	17,339

The following summarizes the future minimum lease payments due to the Company as lessor under capital leases as of March 31, 2018:




Remainder of 2018	$	7,809
2019	7,046
2020	5,004
2021	3,322
2022	2,752
Thereafter	59
Total	$	25,992

Credit Loss Allowance and Credit Quality

3 Months Ended

Mar. 31, 2018

Loans and Leases Receivable Disclosure [Abstract]

Credit Loss Allowance and Credit Quality

Credit Loss Allowance

The Company estimates the allowance for credit losses on individually acquired retail installment contracts and personal loans held for investment not classified as TDRs based on delinquency status, historical loss experience, estimated values of underlying collateral, when applicable, and various economic factors. In developing the allowance, the Company utilizes a loss emergence period assumption, a loss given default assumption applied to recorded investment, and a probability of default assumption. The loss emergence period assumption represents the average length of time between when a loss event is first estimated to have occurred and when the account is charged-off. The recorded investment represents unpaid principal balance adjusted for unaccreted net discounts, subvention from manufacturers, and origination costs. Under this approach, the resulting allowance represents the expected net losses of recorded investment inherent in the portfolio. The Company uses a transition based Markov model for estimating the allowance for credit losses on individually acquired retail installment contracts. This model utilizes the recently observed loan transition rates from various loan statuses, including delinquency and accounting statuses from performing to charge off, to forecast future losses.

For loans classified as TDRs, impairment is generally measured based on the present value of expected future cash flows discounted at the original effective interest rate. For loans that are considered collateral-dependent, such as certain bankruptcy modifications, impairment is measured based on the fair value of the collateral, less its estimated cost to sell. The amount of the allowance is equal to the difference between the loan’s impaired value and the recorded investment.

The Company maintains a general credit loss allowance for receivables from dealers based on risk ratings and individually evaluates loans for specific impairment as necessary. As of March 31, 2018 and 2017, the credit loss allowance for receivables from dealers is comprised entirely of general allowance as none of these receivables have been determined to be individually impaired.

The activity in the credit loss allowance for individually acquired and dealer loans for the three months ended March 31, 2018 and 2017 was as follows:



	Three Months Ended March 31, 2018
	Retail Installment Contracts Acquired Individually			Receivables from Dealers			Personal Loans
	Retail Installment Contracts Acquired Individually			Receivables from Dealers			Personal Loans
Balance — beginning of period	$	3,261,135		$	164		$	2,565
Provision for credit losses	458,679			(3		)	(102		)
Charge-offs (a)	(1,199,021		)	—			(1,068		)
Recoveries	661,229			—			319
Balance — end of period	$	3,182,022		$	161		$	1,714

(a) For the three months ended March 31, 2018, charge-offs for retail installment contracts acquired individually includes approximately $7 million for the partial write-down of loans to the collateral value less estimated costs to sell, for which a bankruptcy notice was received. There is no additional credit loss allowance on these loans.



	Three Months Ended March 31, 2017
	Retail Installment Contracts Acquired Individually			Receivables from Dealers		Personal Loans
	Retail Installment Contracts Acquired Individually			Receivables from Dealers		Personal Loans
Balance — beginning of period	$	3,411,055		$	724	$	—
Provision for credit losses	629,097			10		7,975
Charge-offs (a)	(1,224,697		)	—		(3,632		)
Recoveries	625,764			—		174
Balance — end of period	$	3,441,219		$	734	$	4,517

(a) For the three months ended March 31, 2017, charge-offs for retail installment contracts acquired individually includes approximately $24 million for the partial write-down of loans to the collateral value less estimated costs to sell, for which a bankruptcy notice was received. There is no additional credit loss allowance on these loans.

The Company estimates lease losses on the capital lease receivable portfolio based on delinquency status and loss experience to date, as well as various economic factors. The activity in the lease loss allowance for capital leases for the three months ended March 31, 2018 and 2017 was as follows:



	Three Months Ended March 31,
	2018			2017
Balance — beginning of period	$	5,642		$	9,988
Provision for lease losses	421			(2,069		)
Charge-offs	(1,381		)	(3,679		)
Recoveries	1,075			2,365
Balance — end of period	$	5,757		$	6,605

There was no impairment activity noted for purchased receivable portfolio for the three months ended March 31, 2018 and March 31, 2017.

Delinquencies

Retail installment contracts and personal amortizing term loans are classified as non-performing (or nonaccrual) when they are greater than 60 days past due as to contractual principal or interest payments. See discussion of TDR under the "Troubled Debt Restructurings" section below. Dealer receivables are classified as non-performing when they are greater than 90 days past due. At the time a loan is placed in non-performing (nonaccrual) status, previously accrued and uncollected interest is reversed against interest income. If an account is returned to a performing (accrual) status, the Company returns to accruing interest on the loan.

The Company considers an account delinquent when an obligor fails to pay the required minimum portion of the scheduled payment by the due date. With respect to receivables originated by the Company through its “Chrysler Capital” channel, the required minimum payment is 90% of the scheduled payment. With respect to receivables originated by the Company or acquired by the Company from an unaffiliated third-party originator on or after January 1, 2017, the required minimum payment is 90% of the scheduled payment, whereas previous to January 1, 2017 the required minimum payment was 50% of the scheduled payment. In each case, the period of delinquency is based on the number of days payments are contractually past due.

The accrual of interest on personal loans continues until the loan is charged off. The unpaid principal balance on personal loans (including revolving personal loans) 90 days past due and still accruing totaled $108,022 and $130,034 as of March 31, 2018 and December 31, 2017, respectively.

A summary of delinquencies as of March 31, 2018 and December 31, 2017 is as follows:



	March 31, 2018
	Retail Installment Contracts Held for Investment
	Loans Acquired Individually		Purchased Receivables Portfolios		Total
Principal, 30-59 days past due	$	2,234,126	$	4,299	$	2,238,425
Delinquent principal over 59 days (a)	1,087,491		2,157		1,089,648
Total delinquent principal	$	3,321,617	$	6,456	$	3,328,073



	December 31, 2017
	Retail Installment Contracts Held for Investment
	Loans Acquired Individually		Purchased Receivables Portfolios		Total
Principal, 30-59 days past due	$	2,822,686	$	4,992	$	2,827,678
Delinquent principal over 59 days (a)	1,541,728		2,855		1,544,583
Total delinquent principal	$	4,364,414	$	7,847	$	4,372,261

(a) Interest is accrued until 60 days past due in accordance with the Company's accounting policy for retail installment contracts. The Company's delinquency ratio continues to be calculated using the end of period delinquent principal over 60 days. Refer to Item 2 "Selected Financial Data" for details on delinquent principal over 60 days and related delinquency ratios.

In addition, retail installment contracts acquired individually held for investment that were placed on nonaccrual status, as of March 31, 2018 and December 31, 2017:



	March 31, 2018				December 31, 2017
	Amount		Percent (a)		Amount		Percent (a)
Non-TDR	$	470,674	1.8	%	$	666,926	2.6	%
TDR	1,346,148		5.2	%	1,390,373		5.4	%
Total nonaccrual principal	$	1,816,822	7.0	%	$	2,057,299	7.9	%

(a) Percent of unpaid principal balance of retail installment contracts individually held for investment.

The balances in the above tables reflect total unpaid principal balance rather than net recorded investment before allowance.

As of March 31, 2018 and December 31, 2017, there were no receivables from dealers that were 30 days or more delinquent. As of March 31, 2018 and December 31, 2017, there were $1,244 and $1,701, respectively, of retail installment contracts held for sale that were 30 days or more delinquent.

Credit Quality Indicators

FICO^® Distribution — A summary of the credit risk profile of the Company’s retail installment contracts held for investment by FICO^® distribution, determined at origination, as of March 31, 2018 and December 31, 2017 was as follows:



FICO^® Band	March 31, 2018 (b)	December 31, 2017 (b)
Commercial (a)	2.2%	2.5%
No-FICOs	11.2%	11.2%
<540	21.6%	21.8%
540-599	32.4%	32.0%
600-639	17.6%	17.4%
>640	15.0%	15.1%

(a)No FICO score is obtained on loans to commercial borrowers.

(b)Percentages are based on unpaid principal balance.

Commercial Lending — The Company's risk department performs a credit analysis and classifies certain loans over an internal threshold based on the commercial lending classifications described in Note 4 of the 2017 Annual Report on Form 10-K. Fleet loan credit quality indicators for retail installment contracts held for investment with commercial borrowers as of March 31, 2018 and December 31, 2017 were as follows:



	March 31, 2018		December 31, 2017
Pass	$	11,154	$	12,276
Special Mention	4,812		5,324
Substandard	600		715
Doubtful	—		—
Loss	—		—
Total (Unpaid principal balance)	$	16,566	$	18,315

Commercial loan credit quality indicators for receivables from dealers held for investment as of March 31, 2018 and December 31, 2017 were as follows:



	March 31, 2018		December 31, 2017
Pass	$	13,910	$	14,130
Special Mention	1,585		1,657
Substandard	—		—
Doubtful	—		—
Loss	—		—
Total (Unpaid principal balance)	$	15,495	$	15,787

Troubled Debt Restructurings

In certain circumstances, the Company modifies the terms of its finance receivables to troubled borrowers. Modifications may include a temporary reduction in monthly payment, reduction in interest rate, an extension of the maturity date, rescheduling of future cash flows, or a combination thereof. A modification of finance receivable terms is considered a TDR if the Company grants a concession to a borrower for economic or legal reasons related to the debtor’s financial difficulties that would not otherwise have been considered. Management considers TDRs to include all individually acquired retail installment contracts that have been modified at least once, deferred for a period of 90 days or more, or deferred at least twice. Additionally, restructurings through bankruptcy proceedings are deemed to be TDRs. The purchased receivables portfolio, operating and capital leases, and loans held for sale, including personal loans, are excluded from the scope of the applicable guidance. The Company's TDR balance as of March 31, 2018 and December 31, 2017 primarily consisted of loans that had been deferred or modified to receive a temporary reduction in monthly payment. As of March 31, 2018 and December 31, 2017, there were no receivables from dealers classified as a TDR.

For loans not classified as TDRs, the Company generally estimates an appropriate allowance for credit losses based on delinquency status, the Company’s historical loss experience, estimated values of underlying collateral, and various economic factors. Once a loan has been classified as a TDR, it is generally assessed for impairment based on the present value of expected future cash flows discounted at the loan's original effective interest rate considering all available evidence. For loans that are considered collateral-dependent, such as certain bankruptcy modifications, impairment is measured based on the fair value of the collateral, less its estimated cost to sell.

The table below presents the Company’s TDRs as of March 31, 2018 and December 31, 2017:



	March 31, 2018			December 31, 2017
	Retail Installment Contracts
Outstanding recorded investment (a)	$	5,978,182		$	6,261,432
Impairment	(1,595,465		)	(1,731,320		)
Outstanding recorded investment, net of impairment	$	4,382,717		$	4,530,112

(a) As of March 31, 2018, the outstanding recorded investment excludes $68.1 million of collateral-dependent bankruptcy TDRs that has been written down by $31.1 million to fair value less cost to sell. As of December 31, 2017, the outstanding recorded investment excludes $64.7 million of collateral-dependent bankruptcy TDRs that has been written down by $29.2 million to fair value less cost to sell.

A summary of the Company’s delinquent TDRs at March 31, 2018 and December 31, 2017, is as follows:



	March 31, 2018		December 31, 2017
	Retail Installment Contracts (a)
Principal, 30-59 days past due	$	1,097,661	$	1,332,239
Delinquent principal over 59 days	576,396		818,938
Total delinquent TDR principal	$	1,674,057	$	2,151,177

(a) The balances in the above table reflects total unpaid principal balance rather than net recorded investment before allowance.

Within the total non-accrual principal in the "Delinquencies" section above, as of March 31, 2018 and December 31, 2017, the Company had $1,346,148 and $1,390,373 of TDRs on nonaccrual status respectively, of which $942,890 and $790,461 of TDRs as of March 31, 2018 and December 31, 2017 followed cost recovery basis respectively. The remaining nonaccrual TDR loans follow cash basis of accounting. Out of the total TDRs on cost recovery basis, $832,066 and $652,679 of TDRs were less than 60 days past due as of March 31, 2018 and December 31, 2017 respectively. The Company applied $99,860 and $56,740 of interest received, on these loans, towards recorded investment (as compared to interest income), in accordance with cost recovery method as of March 31, 2018 and December 31, 2017 respectively.

Average recorded investment and income recognized on TDR loans are as follows:



	Three Months Ended
	March 31, 2018		March 31, 2017
	Retail Installment Contracts
Average outstanding recorded investment in TDRs	$	6,078,203	$	5,711,412
Interest income recognized	$	241,211	$	260,352

The following table summarizes the financial effects, excluding impacts related to credit loss allowance and impairment, of TDRs that occurred for the three months ended March 31, 2018 and 2017:



	Three Months Ended
	March 31, 2018		March 31, 2017
	Retail Installment Contracts
Outstanding recorded investment before TDR	$	584,448	$	881,699
Outstanding recorded investment after TDR	$	582,664	$	866,278
Number of contracts (not in thousands)	34,374		49,499

Loan restructurings accounted for as TDRs within the previous twelve months that subsequently defaulted during the three months ended March 31, 2018 and 2017 are summarized in the following table:



	Three Months Ended
	March 31, 2018		March 31, 2017
	Retail Installment Contracts
Recorded investment in TDRs that subsequently defaulted (a)	$	195,265	$	211,697
Number of contracts (not in thousands)	11,540		11,894

(a) For TDR modifications and TDR modifications that subsequently defaults, the allowance methodology remains unchanged, however the transition rates of the TDR loans are adjusted to reflect the respective risks.

- Definition

The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.

+ References + Details

Debt

3 Months Ended

Mar. 31, 2018

Debt Disclosure [Abstract]

Debt

Revolving Credit Facilities

The following table presents information regarding credit facilities as of March 31, 2018 and December 31, 2017:



	March 31, 2018
	Maturity Date(s)	Utilized Balance		Committed Amount		Effective Rate	Assets Pledged		Restricted Cash Pledged
Facilities with third parties
Warehouse line	August 2019	$	229,984	$	500,000	3.74%	$	348,645	$	19,915
Warehouse line	Various (a)	603,145		1,250,000		2.71%	865,991		24,063
Warehouse line (b)	August 2019	2,105,843		3,900,000		3.42%	3,108,422		68,631
Warehouse line	December 2018	—		300,000		—%	—		—
Warehouse line	October 2019	611,477		1,800,000		3.43%	839,499		14,727
Repurchase facility (d)	Various (c)	291,949		291,949		3.49%	407,299		12,962
Repurchase facility (d)	April 2018 (e)	196,727		196,727		3.06%	257,054		—
Repurchase facility (d)	June 2018	153,177		153,177		3.80%	222,108		—
Repurchase facility (d)	December 2018	67,772		67,772		3.55%	156,202		—
Warehouse line	November 2019	297,699		1,000,000		3.63%	420,623		11,557
Warehouse line	October 2019	148,565		400,000		3.65%	206,287		4,070
Warehouse line	November 2019	358,220		500,000		2.06%	421,622		21,337
Warehouse line	October 2018	229,800		300,000		3.37%	268,054		10,719
Total facilities with third parties		5,294,358		10,659,625			7,521,806		187,981
Facilities with Santander and related subsidiaries:
Line of credit (f)	December 2018	30,000		1,000,000		3.09%	30,000		—
Promissory Note (g)	December 2021	250,000		250,000		3.70%	—		—
Promissory Note (g)	December 2022	250,000		250,000		3.95%	—		—
Promissory Note (g)	March 2019	300,000		300,000		3.38%	—		—
Promissory Note (g)	October 2020	400,000		400,000		3.10%	—		—
Promissory Note (g)	May 2020	500,000		500,000		3.49%	—		—
Promissory Note (g) (h)	March 2022	650,000		650,000		4.20%	—		—
Promissory Note (g)	August 2021	650,000		650,000		3.44%	—		—
Line of credit (f)	December 2018	114,200		750,000		4.34%	126,392		2,376
Line of credit (f)	March 2019	—		3,000,000		3.94%	—		—
Total facilities with Santander and related subsidiaries		3,144,200		7,750,000			156,392		2,376
Total revolving credit facilities		$	8,438,558	$	18,409,625		$	7,678,198	$	190,357

(a) Half of the outstanding balance on this facility matures in March 2019 and remaining balance matures in March 2020.

(b) This line is held exclusively for financing of Chrysler Capital leases.

(c) The maturity of this repurchase facility ranges from April 2018 to July 2018.

(d) These repurchase facilities are collateralized by securitization notes payable retained by the Company. These facilities have rolling maturities of up to one year. As the borrower, we are exposed to liquidity risk due to changes in the market value of the retained securities pledged. In some instances, we place or receive cash collateral with counterparties under collateral arrangements associated with our repurchase agreements.

(e) Half of this repurchase facility was settled on maturity in April 2018 and remaining balance of this repurchase facility was extended to July 2018.


(f)	These lines are also collateralized by securitization notes payable and residuals retained by the Company.


(g)	As of March 31, 2018 and December 31, 2017, $3,000,000 and $3,000,000, respectively, of the aggregate outstanding balances on these facilities were unsecured.

(h)

In 2017, the Company entered into an interest rate swap to hedge the interest rate risk on this fixed rate debt. This derivative was designated as fair value hedge at inception. This was later terminated and the unamortized fair value hedge adjustment as of March 31, 2018 and December 31, 2017 was $$3,994 and $4,223, the amortization of which will reduce interest expense over the remaining life of the fixed rate debt.



	December 31, 2017
	Maturity Date(s)	Utilized Balance		Committed Amount		Effective Rate	Assets Pledged		Restricted Cash Pledged
Facilities with third parties:
Warehouse line	January 2018	$	336,484	$	500,000	2.87%	$	473,208	$	—
Warehouse line	Various	339,145		1,250,000		2.53%	461,353		12,645
Warehouse line	August 2019	2,044,843		3,900,000		2.96%	2,929,890		53,639
Warehouse line	December 2018	—		300,000		1.49%	—		—
Warehouse line	October 2019	226,577		1,800,000		4.95%	311,336		6,772
Repurchase facility	Various	325,775		325,775		3.24%	474,188		13,842
Repurchase facility	April 2018	202,311		202,311		2.67%	264,120		—
Repurchase facility	March 2018	147,500		147,500		3.91%	222,108		—
Repurchase facility	March 2018	68,897		68,897		3.04%	95,762		—
Warehouse line	November 2019	403,999		1,000,000		2.66%	546,782		14,729
Warehouse line	October 2019	81,865		400,000		4.09%	114,021		3,057
Warehouse line	November 2019	435,220		500,000		1.92%	521,365		16,866
Warehouse line	October 2018	235,700		300,000		2.84%	289,634		10,474
Total facilities with third parties		4,848,316		10,694,483			6,703,767		132,024
Facilities with Santander and related subsidiaries:
Line of credit	December 2018	—		1,000,000		3.09%	—		—
Promissory Note	December 2021	250,000		250,000		3.70%	—		—
Promissory Note	December 2022	250,000		250,000		3.95%	—		—
Promissory Note	March 2019	300,000		300,000		2.67%	—		—
Promissory Note	October 2020	400,000		400,000		3.10%	—		—
Promissory Note	May 2020	500,000		500,000		3.49%	—		—
Promissory Note	March 2022	650,000		650,000		4.20%	—		—
Promissory Note	August 2021	650,000		650,000		3.44%	—		—
Line of credit	December 2018	750,000		750,000		1.33%	—		—
Line of credit	March 2019	—		3,000,000		3.94%	—		—
Total facilities with Santander and related subsidiaries		3,750,000		7,750,000			—		—
Total revolving credit facilities		$	8,598,316	$	18,444,483		$	6,703,767	$	132,024

Facilities with Third Parties

The warehouse lines and repurchase facilities are fully collateralized by a designated portion of the Company’s retail installment contracts (Note 2), leased vehicles (Note 3), securitization notes payables and residuals retained by the Company.

Facilities with Santander and Related Subsidiaries

Lines of Credit

Through SHUSA, Santander provides the Company with $3,000,000 of committed revolving credit that can be drawn on an unsecured basis. Through its New York branch, Santander provides the Company with $1,750,000 of long-term committed revolving credit facilities. The $1,750,000 of longer-term committed revolving credit facilities is composed of a $1,000,000 facility that permits unsecured borrowing but is generally collateralized by retained residuals and $750,000 facility that is securitized by Prime retail installment loans. Both facilities have current maturity dates of December 31, 2018.

Promissory Notes

Through SHUSA, Santander provides the Company with $3,000,000 of promissory notes.

Secured Structured Financings

The following table presents information regarding secured structured financings as of March 31, 2018 and December 31, 2017:



	March 31, 2018
	Estimated Maturity Date(s)	Balance		Initial Note Amounts Issued		Initial Weighted Average Interest Rate	Collateral (b)		Restricted Cash
2013 Securitization	March 2021	$	159,041	$	2,260,930	1.24%	$	183,756	$	46,212
2014 Securitizations	February 2020 - April 2022	982,601		6,391,020		1.16% - 1.72%	1,163,941		218,420
2015 Securitizations	June 2020 - January 2023	2,132,438		9,158,532		1.33% - 2.29%	3,019,846		378,911
2016 Securitizations	April 2022 - March 2024	3,153,267		7,462,790		1.63%-2.80%	4,221,844		366,250
2017 Securitizations	April 2023 - September 2024	6,433,289		9,296,570		1.35% - 2.52%	8,691,397		487,993
2018 Securitizations	May 2022 - May 2025	3,082,538		3,415,030		2.41% - 2.77%	3,629,647		131,952
Public Securitizations (a)		15,943,174		37,984,872			20,910,431		1,629,738
2011 Private issuance	September 2028	213,510		1,700,000		1.46%	332,325		21,100
2013 Private issuances	August 2021-September 2024	1,848,474		2,044,054		1.28%-1.38%	3,118,953		221,752
2014 Private issuance	November 2021	74,908		1,530,125		1.10%	157,838		8,355
2015 Private issuances	November 2018 - September 2021	1,723,235		2,058,187		0.88%-2.80%	733,193		101,080
2016 Private issuances	May 2020 - September 2024	1,215,814		3,050,000		1.55%-2.86%	1,799,082		122,417
2017 Private issuances	April 2021 - September 2021	1,214,597		1,600,000		1.85%-2.44%	1,550,015		83,298
2018 Private issuance	June 2022	628,895		650,002		2.42%	831,285		15,484
Privately issued amortizing notes		6,919,433		12,632,368			8,522,691		573,486
Total secured structured financings		$	22,862,607	$	50,617,240		$	29,433,122	$	2,203,224

(a)Securitizations executed under Rule 144A of the Securities Act are included within this balance.

(b)Secured structured financings may be collateralized by the Company's collateral overages of other issuances.



	December 31, 2017
	Estimated Maturity Date(s)	Balance		Initial Note Amounts Issued		Initial Weighted Average Interest Rate	Collateral		Restricted Cash
2013 Securitizations	January 2019 - March 2021	$	418,806	$	4,239,700	0.89%-1.59%	$	544,948	$	125,696
2014 Securitizations	February 2020 - April 2022	1,150,422		6,391,020		1.16%-1.72%	1,362,814		210,937
2015 Securitizations	September 2019 - January 2023	2,484,051		9,171,332		1.33%-2.29%	3,465,671		366,062
2016 Securitizations	April 2022 - March 2024	3,596,822		7,462,790		1.63%-2.80%	4,798,807		344,899
2017 Securitizations	April 2023 - September 2024	7,343,157		9,535,800		2.01%-2.52%	9,701,381		422,865
Public Securitizations		14,993,258		36,800,642			19,873,621		1,470,459
2011 Private issuance	September 2028	281,946		1,700,000		1.46%	398,051		20,356
2013 Private issuances	August 2021 - September 2024	2,292,279		2,044,054		1.28%-1.38%	3,719,148		155,066
2014 Private issuances	March 2018 - November 2021	117,730		1,538,087		1.05%-1.40%	231,997		9,552
2015 Private issuances	November 2018 - September 2021	2,009,627		2,305,062		0.88%-4.09%	988,247		55,451
2016 Private issuances	May 2020 - September 2024	1,489,464		3,050,000		1.55%-2.86%	2,147,988		89,460
2017 Private issuances	April 2021 - September 2021	1,373,591		1,641,079		1.85%-2.27%	1,747,227		47,415
Privately issued amortizing notes		7,564,637		12,278,282			9,232,658		377,300
Total secured structured financings		$	22,557,895	$	49,078,924		$	29,106,279	$	1,847,759

Most of the Company’s secured structured financings are in the form of public, SEC-registered securitizations. The Company also executes private securitizations under Rule 144A of the Securities Act and periodically issues private term amortizing notes, which are structured similarly to securitizations but are acquired by banks and conduits. The Company’s securitizations and private issuances are collateralized by vehicle retail installment contracts and loans or leases. As of March 31, 2018 and December 31, 2017, the Company had private issuances of notes backed by vehicle leases totaling $4,604,923 and $3,710,377, respectively.

Unamortized debt issuance costs are amortized as interest expense over the terms of the related notes payable using the effective interest method and are classified as a discount to the related recorded debt balance. Amortized debt issuance costs were $7,920 and $8,729 for the three months ended March 31, 2018 and 2017, respectively. For securitizations, the term takes into consideration the expected execution of the contractual call option, if applicable. Amortization of premium or accretion of discount on acquired notes payable is also included in interest expense using the effective interest method over the estimated remaining life of the acquired notes. Total interest expense on secured structured financings for the three months ended March 31, 2018 and 2017 was $150,675 and $124,065, respectively.

Variable Interest Entities

3 Months Ended

Mar. 31, 2018

Variable Interest Entity Disclosure [Abstract]

Variable Interest Entities

The Company transfers retail installment contracts and vehicle leases into newly formed Trusts that then issue one or more classes of notes payable backed by the collateral. The Company’s continuing involvement with these Trusts is in the form of servicing the assets and, generally, through holding residual interests in the Trusts. The Trusts are considered VIEs under U.S. GAAP and the Company may or may not consolidate these VIEs on the condensed consolidated balance sheets.

For further description of the Company’s securitization activities, involvement with VIEs and accounting policies regarding consolidation of VIEs, see Note 7 of the 2017 Annual Report on Form 10-K.

On-balance sheet variable interest entities

The Company retains servicing for receivables transferred to the Trusts and receives a monthly servicing fee on the outstanding principal balance. Supplemental fees, such as late charges, for servicing the receivables are reflected in fees, commissions and other income. As of March 31, 2018 and December 31, 2017, the Company was servicing $25,500,802 and $26,250,482, respectively, of gross retail installment contracts that have been transferred to consolidated Trusts. The remainder of the Company’s retail installment contracts remain unpledged.

A summary of the cash flows received from consolidated securitization trusts during the three months ended March 31, 2018 and 2017, is as follows:



	Three Months Ended
	March 31, 2018		March 31, 2017
Assets securitized	$	7,240,944	$	7,646,625

Net proceeds from new securitizations (a)	$	3,476,322	$	5,576,801
Net proceeds from sale of retained bonds	211,610		115,970
Cash received for servicing fees (b)	215,790		208,923
Net distributions from Trusts (b)	545,152		678,229
Total cash received from Trusts	$	4,448,874	$	6,579,923


(a)	Includes additional advances on existing securitizations.


(b)	These amounts are not reflected in the accompanying condensed consolidated statements of cash flows because these cash flows are intra-company and eliminated in consolidation.

Off-balance sheet variable interest entities

During the three months ended March 31, 2018 and 2017 the Company sold $1,475,253 and $700,022 of gross retail installment contracts to VIEs in off-balance sheet securitizations for a loss of $16,903 and $2,719, respectively, which is recorded in investment losses, net in the accompanying condensed consolidated statements of income. These transactions were executed under securitization platforms with Santander. Santander, as a majority owned affiliate, holds eligible vertical interest in Notes and Certificates of not less than 5% to comply with the Dodd-Frank Act risk retention rules.

As of March 31, 2018 and December 31, 2017, the Company was servicing $4,358,695 and $3,428,248, respectively, of gross retail installment contracts that have been sold in off-balance sheet securitizations and were subject to an optional clean-up call. The portfolio was comprised as follows:



	March 31, 2018		December 31, 2017
SPAIN	$	3,176,238	$	2,024,016
Total serviced for related parties	3,176,238		2,024,016
Chrysler Capital securitizations	1,182,457		1,404,232
Total serviced for third parties	1,182,457		1,404,232
Total serviced for others portfolio	$	4,358,695	$	3,428,248

Other than repurchases of sold assets due to standard representations and warranties, the Company has no exposure to loss as a result of its involvement with these VIEs.

A summary of the cash flows received from off-balance sheet securitization trusts during the three months ended March 31, 2018 and 2017 is as follows:



	Three Months Ended
	March 31, 2018		March 31, 2017
Receivables securitized (a)	$	1,475,253	$	700,022

Net proceeds from new securitizations	$	1,474,820	$	702,319
Cash received for servicing fees	8,078		1,398
Total cash received from securitization trusts	$	1,482,898	$	703,717

(a) Represents the unpaid principal balance at the time of original securitization.

Derivative Financial Instruments

3 Months Ended

Mar. 31, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments

The Company uses derivatives financial instruments such as interest rate swaps, interest rate caps and the corresponding options written in order to offset the interest rate caps to manage the Company's exposure to changing interest rates. The Company uses both derivatives that qualify for hedge accounting treatment and economic hedges.

In addition, the Company is the holder of a warrant that gives it the right, if certain vesting conditions are satisfied, to purchase additional shares in a company in which it has a cost method investment. This warrant was issued in 2012 and is carried at its estimated fair value of zero at March 31, 2018 and December 31, 2017.

The underlying notional amounts and aggregate fair values of these derivatives financial instruments at March 31, 2018 and December 31, 2017, are as follows:



	March 31, 2018
	Notional		Fair Value			Asset		Liability
Interest rate swap agreements designated as cash flow hedges	$	4,682,300	$	71,351		$	71,351	$	—
Interest rate swap agreements not designated as hedges	2,163,600		16,474			16,685		(211		)
Interest rate cap agreements	10,825,149		197,667			197,667		—
Options for interest rate cap agreements	10,825,149		(197,548		)	—		(197,548		)



	December 31, 2017
	Notional		Fair Value			Asset		Liability
Interest rate swap agreements designated as cash flow hedges	$	4,926,900	$	45,986		$	45,986	$	—
Interest rate swap agreements not designated as hedges	1,736,400		9,596			9,596		—
Interest rate cap agreements	10,906,081		103,721			135,830		(32,109		)
Options for interest rate cap agreements	10,906,081		(103,659		)	32,165		(135,824		)

See Note 13 for disclosure of fair value and balance sheet location of the Company's derivative financial instruments.

The Company enters into legally enforceable master netting agreements that reduce risk by permitting netting of transactions, such as derivatives and collateral posting, with the same counterparty on the occurrence of certain events. A master netting agreement allows two counterparties the ability to net-settle amounts under all contracts, including any related collateral posted, through a single payment. The right to offset and certain terms regarding the collateral process, such as valuation, credit events and settlement, are contained in ISDA master agreements. The Company has elected to present derivative balances on a gross basis even if the derivative is subject to a legally enforceable master netting (ISDA) agreement. Collateral that is received or pledged for these transactions is disclosed within the “Gross amounts not offset in the Condensed Consolidated Balance Sheet” section of the tables below. Information on the offsetting of derivative assets and derivative liabilities due to the right of offset was as follows, as of March 31, 2018 and December 31, 2017:



	Gross Amounts Not Offset in the Condensed Consolidated Balance Sheet
	Assets Presented in the Condensed Consolidated Balance Sheet		Cash Collateral Received (a)			Net Amount
March 31, 2018
Interest rate swaps - Santander and affiliates	$	—	$	—		$	—
Interest rate swaps - third party (b)	88,036		(61,617		)	26,419
Interest rate caps - Santander and affiliates	21,241		(12,240		)	9,001
Interest rate caps - third party	176,426		(64,993		)	111,433
Total derivatives subject to a master netting arrangement or similar arrangement	285,703		(138,850		)	146,853
Total derivatives not subject to a master netting arrangement or similar arrangement	—		—			—
Total derivative assets	$	285,703	$	(138,850	)	$	146,853
Total financial assets	$	285,703	$	(138,850	)	$	146,853

December 31, 2017
Interest rate swaps - Santander and affiliates	$	8,621	$	(3,461	)	$	5,160
Interest rate swaps - third party	46,961		(448		)	46,513
Interest rate caps - Santander and affiliates	18,201		(12,240		)	5,961
Interest rate caps - third party	149,794		(55,835		)	93,959
Total derivatives subject to a master netting arrangement or similar arrangement	223,577		(71,984		)	151,593
Total derivatives not subject to a master netting arrangement or similar arrangement	—		—			—
Total derivative assets	$	223,577	$	(71,984	)	$	151,593
Total financial assets	$	223,577	$	(71,984	)	$	151,593

(a) Cash collateral received is reported in Other liabilities or Due to affiliate, as applicable, in the consolidated balance sheet.

(b) Includes derivative instruments originally transacted with Santander and affiliates and subsequently amended to reflect clearing with central clearing counterparties.



	Gross Amounts Not Offset in the Condensed Consolidated Balance Sheet
	Liabilities Presented in the Condensed Consolidated Balance Sheet		Cash Collateral Pledged (a)			Net Amount
March 31, 2018
Interest rate swaps - third party	211		(211		)	—
Back to back - Santander & affiliates	21,241		(21,241		)	—
Back to back - third party	176,307		(176,307		)	—
Total derivatives subject to a master netting arrangement or similar arrangement	197,759		(197,759		)	—
Total derivatives not subject to a master netting arrangement or similar arrangement	—		—			—
Total derivative liabilities	$	197,759	$	(197,759	)	$	—
Total financial liabilities	$	197,759	$	(197,759	)	$	—

December 31, 2017
Back to back - Santander & affiliates	18,201		(18,201		)	—
Back to back - third party	149,732		(133,540		)	16,192
Total derivatives subject to a master netting arrangement or similar arrangement	167,933		(151,741		)	16,192
Total derivatives not subject to a master netting arrangement or similar arrangement	—		—			—
Total derivative liabilities	$	167,933	$	(151,741	)	$	16,192
Total financial liabilities	$	167,933	$	(151,741	)	$	16,192

(a) Cash collateral pledged is reported in Other assets or Due from affiliate, as applicable, in the consolidated balance sheet. In certain instances, the Company is over-collateralized since the actual amount of cash pledged as collateral exceeds the associated financial liability. As a result, the actual amount of cash collateral pledged that is reported in Other assets or Due from affiliates may be greater than the amount shown in the table above.

The gross gains (losses) reclassified from accumulated other comprehensive income (loss) to net income, are included as components of interest expense. The impacts on the condensed consolidated statements of income and comprehensive income for the three months ended March 31, 2018 and 2017 were as follows:



	Three Months Ended March 31, 2018
	Recognized in Earnings			Gross Gains Recognized in Accumulated Other Comprehensive Income (Loss)		Gross amount Reclassified From Accumulated Other Comprehensive Income to Interest Expense
Interest rate swap agreements designated as cash flow hedges	$	—		$	26,429	$	4,578

Derivative instruments not designated as hedges:
Gains (losses) recognized in interest expenses	$	(9,717	)



	Three Months Ended March 31, 2017
	Recognized in Earnings			Gross Gains (Losses) Recognized in Accumulated Other Comprehensive Income (Loss)		Gross Gains (Losses) Reclassified From Accumulated Other Comprehensive Income to Interest Expense
Interest rate swap agreements designated as cash flow hedges	$	383		$	7,332	$	4,240

Derivative instruments not designated as hedges:
Gains (losses) recognized in interest expense	$	(1,204	)
Gains (losses) recognized in operating expenses	$	(505	)

The Company estimates that approximately $34,698 of unrealized gains included in accumulated other comprehensive income (loss) will be reclassified to interest expense within the next twelve months.

Other Assets

3 Months Ended

Mar. 31, 2018

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Other Assets

Other assets were comprised as follows:



	March 31, 2018		December 31, 2017
Vehicles (a)	$	383,657	$	293,546
Manufacturer subvention payments receivable (b)	120,268		83,910
Upfront fee (b)	76,250		80,000
Derivative assets at fair value (c)	264,462		196,755
Derivative - third party collateral	187,226		149,805
Prepaids	37,702		40,830
Accounts receivable	26,799		38,583
Other	29,179		29,815
Other assets	$	1,125,543	$	913,244


(a)	Includes vehicles obtained through repossession as well as vehicles obtained due to lease terminations.


(b)	These amounts relate to the Chrysler Agreement. The Company paid a $150,000 upfront fee upon the May 2013 inception of the agreement. The fee is being amortized into finance and other interest income over a ten-year term. As the preferred financing provider for FCA, the Company is entitled to subvention payments on loans and leases with below-market customer payments.


(c)	Derivative assets at fair value represent the gross amount of derivatives presented in the condensed consolidated financial statements. Refer to Note 7 to these Condensed Consolidated Financial Statements for the detail of these amounts.

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company recorded income tax expense of $57,311 (19.1% effective tax rate) and $78,001 (35.2% effective tax rate) during the three months ended March 31, 2018 and 2017, respectively. The Company is a party to a tax sharing agreement requiring that the unitary state tax liability among affiliates included in unitary state tax returns be allocated using the hypothetical separate company tax calculation method. The Company had a net receivable from affiliates under the tax sharing agreement of $634 and $467 at March 31, 2018 and December 31, 2017, respectively, which was included in related party taxes receivable in the condensed consolidated balance sheet. The Company provides U.S. income taxes on earnings of foreign subsidiaries unless the subsidiaries' earnings are considered indefinitely reinvested outside of the United States. As of December 31, 2017 and March 31, 2018, the Company has no earnings that are considered indefinitely reinvested. During the three months ended March 31, 2018, the Company adopted ASU 2018-02, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. This standard requires entities to reclassify from accumulated other comprehensive income to retained earnings stranded tax effects resulting from the 2017 Tax Cuts and Jobs Act. The Company reclassified $6,149 related to stranded tax effects. The Company applies an aggregate portfolio approach whereby income tax effects from accumulated other comprehensive income are released only when an entire portfolio (i.e. all related units of account) of a particular type is liquidated, sold or extinguished. Significant judgment is required in evaluating and reserving for uncertain tax positions. Although management believes adequate reserves have been established for all uncertain tax positions, the final outcomes of these matters may differ. Management does not believe the outcome of any uncertain tax position, individually or combined, will have a material effect on the Company's business, financial position or results of operations. The reserve for uncertain tax positions, as well as associated penalties and interest, is a component of the income tax provision.

Commitments and Contingencies

3 Months Ended

Mar. 31, 2018

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

The following table summarizes liabilities recorded for commitments and contingencies as of March 31, 2018 and December 31, 2017, all of which are included in accounts payable and accrued expenses in the accompanying condensed consolidated balance sheets:



Agreement or Legal Matter	Commitment or Contingency	March 31, 2018		December 31, 2017
Chrysler Agreement	Revenue-sharing and gain-sharing payments	$	11,571	$	6,580
Agreement with Bank of America	Servicer performance fee	7,453		8,072
Agreement with CBP	Loss-sharing payments	5,506		5,625
Other Contingencies	Consumer arrangements	3,410		6,326
Legal and regulatory proceedings	Aggregate legal and regulatory liabilities	115,600		108,800

Following is a description of the agreements and legal matters pursuant to which the liabilities in the preceding table were recorded.

Chrysler Agreement

Under terms of the Chrysler Agreement, the Company must make revenue sharing payments to FCA and also must make gain-sharing payments to FCA when residual gains on leased vehicles exceed a specified threshold. The Company had accrued $11,571 and $6,580 at March 31, 2018 and December 31, 2017, respectively, related to these obligations.

The Chrysler Agreement requires, among other things, that the Company bear the risk of loss on loans originated pursuant to the agreement, but also that FCA shares in any residual gains and losses from consumer leases. The agreement also requires that Company maintain at least $5.0 billion in funding available for dealer inventory financing and $4.5 billion of financing dedicated to FCA retail financing. In turn, FCA must provide designated minimum threshold percentages of its subvention business to the Company. The Chrysler Agreement is subject to early termination in certain circumstances, including the failure by either party to comply with certain of their ongoing obligations under the Chrysler Agreement. These obligations include the Company's meeting specified escalating penetration rates for the first five years of the agreement. The Company has not met these penetration rates at March 31, 2018. If the Chrysler Agreement were to terminate, there could be a materially adverse impact to the Company's business, financial position and results of operations.

Agreement with Bank of America

Until January 31, 2017, the Company had a flow agreement with Bank of America whereby the Company was committed to sell up to $300,000 of eligible loans to the bank each month. The Company retains servicing on all sold loans and may receive or pay a servicer performance payment based on an agreed-upon formula if performance on the sold loans is better or worse, respectively, than expected performance at time of sale. Servicer performance payments are due six years from the cut-off date of each loan sale. The Company had accrued $7,453 and $8,072 at March 31, 2018 and December 31, 2017, respectively, related to this obligation.

Agreement with CBP

Until May 1, 2017, the Company sold loans to CBP under terms of a flow agreement and predecessor sale agreements. The Company retained servicing on the sold loans and will owe CBP a loss-sharing payment capped at 0.5% of the original pool balance if losses exceed a specified threshold, established on a pool-by-pool basis. Loss-sharing payments are due the month in which net losses exceed the established threshold of each loan sale. The Company had accrued $5,506 and $5,625 at March 31, 2018 and December 31, 2017, respectively, related to the loss-sharing obligation.

Other Contingencies

The Company is or may be subject to potential liability under various other contingent exposures. The Company had accrued $3,410 and $6,326 at March 31, 2018 and December 31, 2017, respectively, for other miscellaneous contingencies.

Legal and regulatory proceedings

Periodically, the Company is party to, or otherwise involved in, various lawsuits and other legal proceedings that arise in the ordinary course of business. In view of the inherent difficulty of predicting the outcome of any such lawsuit, regulatory matter and legal proceeding, particularly where the claimants seek very large or indeterminate damages or where the matters present novel legal theories or involve a large number of parties, the Company generally cannot predict the eventual outcome of the pending matters, the timing of the ultimate resolution of the matters, or the eventual loss, fines or penalties related to the matter. Further, it is reasonably possible that actual outcomes or losses may differ materially from the Company's current assessments and estimates and any adverse resolution of any of these matters against it could materially and adversely affect the Company's business, financial condition and results of operation.

In accordance with applicable accounting guidance, the Company establishes an accrued liability for litigation, regulatory matters and other legal proceedings when those matters present material loss contingencies that are both probable and estimable. In such cases, there may be an exposure to loss in excess of any amounts accrued. When a loss contingency is not both probable and estimable, the Company does not establish an accrued liability. As a litigation, regulatory matter or other legal proceeding develops, the Company, in conjunction with any outside counsel handling the matter, evaluates on an ongoing basis whether the matter presents a material loss contingency that is probable and estimable. If a determination is made during a given quarter that a material loss contingency is probable and estimable, an accrued liability is established during such quarter with respect to such loss contingency. The Company continues to monitor the matter for further developments that could affect the amount of the accrued liability previously established.

As of March 31, 2018, the Company has accrued aggregate legal and regulatory liabilities of $115,600. Further, the Company believes that the estimate of the aggregate range of reasonably possible losses, in excess of reserves established, for legal and regulatory proceedings is up to $207,000 as of March 31, 2018. Set forth below are descriptions of the material lawsuits, regulatory matters and other legal proceedings to which the Company is subject.

Securities Class Action and Shareholder Derivative Lawsuits

•Deka Lawsuit: The Company is a defendant in a purported securities class action lawsuit (the Deka Lawsuit) in the United States District Court, Northern District of Texas, captioned Deka Investment GmbH et al. v. Santander Consumer USA Holdings Inc. et al., No. 3:15-cv-2129-K. The Deka Lawsuit, which was filed in August 26, 2014, was brought against the Company, certain of its current and former directors and executive officers and certain institutions that served as underwriters in the Company’s IPO on behalf of a class consisting of those who purchased or otherwise acquired our securities between January 23, 2014 and June 12, 2014. The complaint alleges, among other things, that our IPO registration statement and prospectus and certain subsequent public disclosures violated federal securities laws by containing misleading statements concerning the Company’s ability to pay dividends and the adequacy of the Company’s compliance systems and oversight. On December 18, 2015, the Company and the individual defendants moved to dismiss the lawsuit, which was denied. On December 2, 2016, the plaintiffs moved to certify the proposed classes. On July 11, 2017, the court entered an order staying the Deka Lawsuit pending the resolution of the appeal of a class certification order in In re Cobalt Int’l Energy, Inc. Sec. Litig., No. H-14-3428, 2017 U.S. Dist. LEXIS 91938 (S.D. Tex. June 15, 2017).

•Feldman Lawsuit: On October 15, 2015, a shareholder derivative complaint was filed in the Court of Chancery of the State of Delaware, captioned Feldman v. Jason A. Kulas, et al., C.A. No. 11614 (the Feldman Lawsuit). The Feldman Lawsuit names as defendants current and former members of the Board, and names the Company as a nominal defendant. The complaint alleges, among other things, that the current and former director defendants breached their fiduciary duties in connection with overseeing the Company’s nonprime vehicle lending practices, resulting in harm to the Company. The complaint seeks unspecified damages and equitable relief. On December 29, 2015, the Feldman Lawsuit was stayed pending the resolution of the Deka Lawsuit.

•Parmelee Lawsuit: The Company is a defendant in two purported securities class actions lawsuits that were filed in March and April 2016 in the United States District Court, Northern District of Texas. The lawsuits were consolidated and are now captioned Parmelee v. Santander Consumer USA Holdings Inc. et al., No. 3:16-cv-783. The lawsuits were filed against the Company and certain of its current and former directors and executive officers on behalf of a class consisting of all those who purchased or otherwise acquired our securities between February 3, 2015 and March 15, 2016. The complaint alleges that the Company violated federal securities laws by making false or misleading statements, as well as failing to disclose material adverse facts, in its periodic reports filed under the Exchange Act and certain other public disclosures, in connection with, among other things, the Company’s change in its methodology for estimating its allowance for credit losses and correction of such allowance for prior periods. On March 14, 2017, the Company filed a motion to dismiss the lawsuit. On January 3, 2018, the court granted the Company’s motion as to defendant Ismail Dawood (the Company’s former Chief Financial Officer) and denied the motion as to all other defendants.

•Jackie888 Lawsuit: On September 27, 2016, a shareholder derivative complaint was filed in the Court of Chancery of the State of Delaware, captioned Jackie888, Inc. v. Jason Kulas, et al., C.A. # 12775 (the Jackie888 Lawsuit). The Jackie888 Lawsuit names as defendants current and former members of the Board, and names the Company as a nominal defendant. The complaint alleges, among other things, that the defendants breached their fiduciary duties in connection with the Company’s accounting practices and controls. The complaint seeks unspecified damages and equitable relief. On April 13, 2017, the Jackie888 Lawsuit was stayed pending the resolution of the Deka Lawsuit.

Consumer Lending Cases

The Company is also party to various lawsuits pending in federal and state courts alleging violations of state and federal consumer lending laws, including, without limitation, the Equal Credit Opportunity Act, the Fair Debt Collection Practices Act, Fair Credit Reporting Act, Section 5 of the Federal Trade Commission Act, the Telephone Consumer Protection Act, the Truth in Lending Act, wrongful repossession laws, usury laws and laws related to unfair and deceptive acts or practices. In general, these cases seek damages and equitable and/or other relief.

Regulatory Investigations and Proceedings

The Company is party to, or is periodically otherwise involved in, reviews, investigations, examinations and proceedings (both formal and informal), and information-gathering requests, by government and self-regulatory agencies, including the FRBB, the CFPB, the DOJ, the SEC, the FTC and various state regulatory and enforcement agencies.

Currently, such matters include, but are not limited to, the following:

•

The Company received a civil subpoena from the DOJ, under FIRREA, requesting the production of documents and communications that, among other things, relate to the underwriting and securitization of nonprime vehicle loans, and also from the SEC requesting the production of documents and communications that, among other things, relate to the underwriting and securitization of nonprime vehicle loans. The Company has responded to these requests within the deadlines specified in the subpoenas and has otherwise cooperated with the DOJ and SEC with respect to these matters.

•

In October 2014, May 2015, July 2015 and February 2017, the Company received subpoenas and/or Civil Investigative Demands (CIDs) from the Attorneys General of California, Illinois, Oregon, New Jersey, Maryland and Washington under the authority of each state's consumer protection statutes. The Company has been informed that these states will serve as an executive committee on behalf of a group of 30 state Attorneys General. The subpoenas and/or CIDs from the executive committee states contain broad requests for information and the production of documents related to the Company’s underwriting, securitization, servicing and collection of nonprime vehicle loans. The Company has responded to these requests within the deadlines specified in the CIDs and has otherwise cooperated with the Attorneys General with respect to this matter.

•

In February 2016, the CFPB issued a supervisory letter relating to its investigation of the Company’s compliance systems, Board and senior management oversight, consumer complaint handling, marketing of GAP coverage and loan deferral disclosure practices. The Company subsequently received a series of CIDs from the CFPB requesting information and testimony regarding the Company’s marketing of GAP coverage and loan deferral disclosure practices. The Company has responded to these requests within the deadlines specified in the CIDs and has otherwise cooperated with the CFPB with respect to this matter.


•	In August 2017, the Company received a CID from the CFPB. The stated purpose of the CID is to determine whether the Company has complied with the Fair Credit Reporting Act and related regulations. The Company has responded to these requests within the deadlines specified in the CIDs and has otherwise cooperated with the CFPB with respect to this matter.

These matters are ongoing and could in the future result in the imposition of damages, fines or other penalties. No assurance can be given that the ultimate outcome of these matters or any resulting proceedings would not materially and adversely affect the Company’s business, financial condition and results of operations.

•2017 Written Agreement with the Federal Reserve

On March 21, 2017, the Company and SHUSA entered into a written agreement with the FRBB. Under the terms of the agreement, the Company is required to enhance its compliance risk management program, Board oversight of risk management and senior management oversight of risk management, and SHUSA is required to enhance its oversight of the Company's management and operations.

•Mississippi Attorney General Lawsuit

On January 10, 2017, the Attorney General of Mississippi filed a lawsuit against the Company in the Chancery Court of the First Judicial District of Hinds County, Mississippi, captioned State of Mississippi ex rel. Jim Hood, Attorney General of the State of Mississippi v. Santander Consumer USA Inc., C.A. # G-2017-28. The complaint alleges that the Company engaged in unfair and deceptive business practices to induce Mississippi consumers to apply for loans that they could not afford. The complaint asserts claims under the Mississippi Consumer Protection Act (the MCPA) and seeks unspecified civil penalties, equitable relief and other relief. On March 31, 2017, the Company filed motions to dismiss the lawsuit and subsequently filed a motion to stay the lawsuit pending the resolution of an interlocutory appeal relating to the MCPA before the Mississippi Supreme Court in Purdue Pharma, L.P., et al. v. State, No. 2017-IA- 00300-SCT. On September 25, 2017, the court granted the motion to stay and ordered a stay of all proceedings, excluding discovery and final briefing on motions to dismiss.

•SCRA Consent Order

In February 2015, the Company entered into a consent order with the DOJ, approved by the United States District Court for the Northern District of Texas, that resolves the DOJ’s claims against the Company that certain of its repossession and collection activities during the period of time between January 2008 and February 2013 violated the Servicemembers Civil Relief Act (SCRA). The consent order requires the Company to pay a civil fine in the amount of $55, as well as at least $9,360 to affected servicemembers consisting of $10 per servicemember plus compensation for any lost equity (with interest) for each repossession by the Company, and $5 per servicemember for each instance where the Company sought to collect repossession-related fees on accounts where a repossession was conducted by a prior account holder. The consent order also provides for monitoring by the DOJ for the Company’s SCRA compliance for a period of five years and requires the Company to undertake certain additional remedial measures.

Agreements

The Company is party to agreements with Bluestem whereby the Company is committed to purchase certain new advances on personal revolving financings receivables, along with existing balances on accounts with new advances, originated by Bluestem for an initial term ending in April 2020 and renewing through April 2022 at Bluestem's option. As of March 31, 2018 and December 31, 2017, the total unused credit available to customers was $3.7 billion, and $3.9 billion, respectively. In 2017, the Company purchased $1.2 billion of receivables, out of the $4.0 billion unused credit available to customers as of December 31, 2016. In addition, the Company purchased $263,831 of receivables related to newly opened customer accounts in 2017. During the three months ended March 31, 2018, the Company purchased $0.3 billion of receivables, out of the $3.9 billion unused credit available to customers as of December 31, 2017. In addition, the Company purchased $17,398 of receivables related to newly opened customer accounts during the three months ended March 31, 2018.

Each customer account generated under the agreements generally is approved with a credit limit higher than the amount of the initial purchase, with each subsequent purchase automatically approved as long as it does not cause the account to exceed its limit and the customer is in good standing. As of March 31, 2018 and December 31, 2017, the Company was obligated to purchase $10,345 and $11,539, respectively, in receivables that had been originated by Bluestem but not yet purchased by the Company. The Company also is required to make a profit-sharing payment to Bluestem each month if performance exceeds a specified return threshold. During the year ended December 31, 2015, the Company and Bluestem executed an amendment that, among other provisions, increases the profit-sharing percentage retained by the Company, gives Bluestem the right to repurchase up to 9.99% of the existing portfolio at any time during the term of the agreement, and, provided that repurchase right is exercised, gives Bluestem the right to retain up to 20% of new accounts subsequently originated.

Under terms of an application transfer agreement with Nissan, the Company has the first opportunity to review for its own portfolio any credit applications turned down by the Nissan's captive finance company. The agreement does not require the Company to originate any loans, but for each loan originated the Company will pay Nissan a referral fee.

The Company also has agreements with SBNA to service recreational and marine vehicle portfolios. These agreements call for a periodic retroactive adjustment, based on cumulative return performance, of the servicing fee rate to inception of the contract. There were zero adjustments for the three months ended March 31, 2018 and March 31, 2017.

In connection with the sale of retail installment contracts through securitizations and other sales, the Company has made standard representations and warranties customary to the consumer finance industry. Violations of these representations and warranties may require the Company to repurchase loans previously sold to on- or off-balance sheet Trusts or other third parties. As of March 31, 2018, there were no loans that were the subject of a demand to repurchase or replace for breach of representations and warranties for the Company's asset-backed securities or other sales. In the opinion of management, the potential exposure of other recourse obligations related to the Company’s retail installment contract sales agreements is not expected to have a material adverse effect on the Company’s business, financial position, results of operations, or cash flows.

Santander has provided guarantees on the covenants, agreements, and obligations of the Company under the governing documents of its warehouse lines and privately issued amortizing notes. These guarantees are limited to the obligations of the Company as servicer.

The Company provided SBNA with the first right to review and approve consumer vehicle lease applications, subject to volume constraints, under terms of a flow agreement that was terminated on May 9, 2015. The Company has indemnified SBNA for potential credit and residual losses on $48,226 of leases that had been originated by SBNA under this program but were subsequently determined not to meet SBNA’s underwriting requirements. This indemnification agreement is supported by an equal amount of cash collateral posted by the Company in an SBNA bank account. The collateral account balance is included in restricted cash in the Company's consolidated balance sheets. As of March 31, 2018, the balance in the collateral account is $18. In January 2015, the Company additionally agreed to indemnify SBNA for residual losses, up to a cap, on certain leases originated under the flow agreement between September 24, 2014 and May 9, 2015 for which SBNA and the Company had differing residual value expectations at lease inception. As of March 31, 2018 and December 31, 2017, the Company had a recorded liability of $1,481 and $2,206, respectively, related to the residual losses covered under the agreement.

In November 2015, the Company executed a forward flow asset sale agreement with a third party under terms of which the Company committed to sell $350,000 in charged off loan receivables in bankruptcy status on a quarterly basis . However, any sale more than $275,000 is subject to a market price check. As of March 31, 2018 and December 31, 2017, the remaining aggregate commitment was $87,998 and $98,858, respectively.

Leases

The Company has entered into various operating leases, primarily for office space and computer equipment. Lease expense incurred totaled $2,559 and $2,739 for the three months ended March 31, 2018 and 2017, respectively. The remaining obligations under lease commitments at March 31, 2018 are as follows:



Years ended December 31,
2018	$	9,462
2019	12,771
2020	13,032
2021	12,907
2022	12,282
Thereafter	44,663
Total	$	105,117

Related-Party Transactions

3 Months Ended

Mar. 31, 2018

Related-Party Transactions

Related-party transactions not otherwise disclosed in these footnotes to the condensed consolidated financial statements include the following:

Credit Facilities

Interest expense, including unused fees, for affiliate lines/letters of credit for the three months ended March 31, 2018 and 2017, was as follows:



	Three Months Ended
	March 31, 2018		March 31, 2017
Line of credit agreement with Santander - New York Branch (Note 5)	$	4,367	$	22,976
Debt facilities with SHUSA (Note 5)	35,846		12,634

Accrued interest for affiliate lines/letters of credit at March 31, 2018 and December 31, 2017, was as follows:



	March 31, 2018		December 31, 2017
Line of credit agreement with Santander - New York Branch (Note 5)	$	563	$	1,435
Debt facilities with SHUSA (Note 5)	18,073		18,670

In August 2015, under an agreement with Santander, the Company agreed to begin incurring a fee of 12.5 basis points (per annum) on certain warehouse lines, as they renew, for which Santander provides a guarantee of the Company's servicing obligations. The Company recognized guarantee fee expense of $2,048 and $1,465 for the three months ended March 31, 2018 and 2017, respectively. As of March 31, 2018 and December 31, 2017, the Company had $9,647 and $7,598 of related fees payable to Santander, respectively.

Derivatives

The Company has derivative financial instruments with Santander and affiliates with outstanding notional amounts of $2,532,000 and $3,734,400 at March 31, 2018 and December 31, 2017, respectively (Note 7). The Company had a collateral overage on derivative liabilities with Santander and affiliates of $11,898 and $1,622 at March 31, 2018 and December 31, 2017, respectively. Interest and mark-to-market adjustments on these agreements totaled $229 and $29 for the three months ended March 31, 2018 and 2017, respectively.

Originations

The Company is required to permit SBNA a first right to review and assess Chrysler Capital dealer lending opportunities, and SBNA is required to pay the Company a relationship management fee based upon the performance and yields of Chrysler Capital dealer loans held by SBNA. On April 15, 2016, the relationship management fee was replaced with an origination fee and annual renewal fee for each loan. The Company did not recognize any relationship management fee income the three months period ended March 31, 2018 and 2017. The Company recognized $456 and $600 of origination fee income for the three months ended March 31, 2018 and 2017, respectively. Additionally, the Company recognized $384 and $306 of renewal fee income for the three months ended March 31, 2018 and 2017, respectively. As of March 31, 2018 and December 31, 2017, the Company had origination and renewal fees receivable from SBNA of $268 and $369. The agreement also transferred the servicing of all Chrysler Capital receivables from dealers, including receivables held by SBNA and by the Company, from the Company to SBNA. Servicing fee expense under this agreement totaled $20 for the three months ended March 31, 2018. As of March 31, 2018 and December 31, 2017, the Company had $9 and $9, respectively, of servicing fees payable to SBNA. The Company may provide advance funding for dealer loans originated by SBNA, which is reimbursed to the Company by SBNA. The Company had no outstanding receivable from SBNA as of March 31, 2018 and December 31, 2017 for such advances.

Under the agreement with SBNA, the Company may originate retail consumer loans in connection with sales of vehicles that are collaterally held against floorplan loans by SBNA. Upon origination, the Company remits payment to SBNA, who settles the transaction with the dealer. The Company owed SBNA $6,708 and $4,481 related to such originations as of March 31, 2018 and December 31, 2017, respectively.

The Company received a $9,000 referral fee in connection with the original arrangement and was amortizing the fee into income over the ten-year term of the agreement. The remaining balance of the referral fee SBNA paid to the Company in connection with the original sourcing and servicing agreement is considered a referral fee in connection with the new agreements and will continue to be amortized into income through the July 1, 2022 termination date of the new agreements. As of March 31, 2018 and December 31, 2017, the unamortized fee balance was $4,725 and $4,950, respectively. The Company recognized $225 and $225 of income related to the referral fee for the three months ended March 31, 2018 and 2017, respectively.

The Company also has agreements with SBNA to service auto retail installment contracts and recreational and marine vehicle portfolios. Servicing fee income recognized under these agreements totaled $742 and $925 for the three months ended March 31, 2018 and 2017, respectively. Other information on the serviced auto loan and retail installment contract portfolios for SBNA as of March 31, 2018 and December 31, 2017 is as follows:



	March 31, 2018		December 31, 2017
Total serviced portfolio	$	371,622	$	400,788
Cash collections due to owner	12,917		11,870
Servicing fees receivable	819		839

During the year ended December 31, 2017, the Company sold certain receivables previously acquired with deteriorated credit quality to SBNA. These loans were sold with a gain of $35,927 recognized in investment losses, net in the accompanying condensed consolidated financial statements. The Company will continue to perform the servicing of these assets and has recorded $297 of servicing fee income from SBNA for the three months ended March 31, 2018. There were no such sales of receivables previously acquired with deteriorated credit quality to SBNA for the three months ended March 31, 2017.

Other information on the serviced receivables for SBNA as of March 31, 2018 is as follows:



	March 31, 2018
Total serviced portfolio	$	112,900
Cash collections due to owner	291
Servicing fees receivable	96

Beginning in 2016, the Company agreed to pay SBNA a market rate-based fee expense for payments made at SBNA retail branch locations for accounts originated/serviced by the Company and the costs associated with modifying the Advanced Teller platform to the payments. The Company incurred $187 and $197 for these services during the three ended March 31, 2018 and 2017.

Beginning in 2018, the Company agreed to provide SBNA with origination support services in connection with the processing, underwriting and purchase of retail loans, primarily from Chrysler dealers. In addition, the Company agreed to perform the servicing for any loans originated on SBNA’s behalf. The Company facilitated the purchase of $24 million of retail installment contacts. The Company recognized referral fee and servicing fee income of $146 and $26, respectively, for the three months ended March 31, 2018 of which $155 is receivable as of March 31, 2018.

Flow Agreements

Until May 9, 2015, the Company was party to a flow agreement with SBNA whereby SBNA had the first right to review and approve Chrysler Capital consumer vehicle lease applications. The Company could review any applications declined by SBNA for the Company’s own portfolio. The Company received an origination fee on all leases originated under this agreement and continues to service these vehicles leases. Pursuant to the Chrysler Agreement, the Company pays FCA on behalf of SBNA for residual gains and losses on the flowed leases. Servicing fee income recognized on leases serviced for SBNA totaled $781 and $1,393 for the three months ended March 31, 2018 and 2017, respectively.

Other information on the consumer vehicle lease portfolio serviced for SBNA as of March 31, 2018 and December 31, 2017 is as follows:



	March 31, 2018		December 31, 2017
Total serviced portfolio	$	97,274	$	321,629
Cash collections due to owner	—		—
Origination and servicing fees receivable	238		2,067
Revenue share reimbursement receivable	3,793		1,548

On June 30, 2014, the Company entered into an indemnification agreement with SBNA whereby the Company indemnifies SBNA for any credit or residual losses on a pool of $48,226 in leases originated under the flow agreement. The covered leases are non-conforming units because they did not meet SBNA’s credit criteria at origination. At the time of the agreement, the Company established a $48,226 collateral account with SBNA in restricted cash that will be released over time to SBNA, in the case of losses, and the Company, in the case of payments and sale proceeds. As of March 31, 2018 and December 31, 2017, the balance in the collateral account is $18 and $18, respectively. The Company recognized $722 and zero indemnification expense for the three months ended March 31, 2018 and 2017.

Also, in January 2015, the Company agreed to indemnify SBNA for residual losses, up to a cap, on certain leases originated under the flow agreement between September 24, 2014 and May 9, 2015 for which SBNA and the Company had differing residual value expectations at lease inception. At the time of the agreement, the Company established a collateral account held by SBNA to cover the expected losses, as of March 31, 2018 and December 31, 2017, the balance in the collateral account was $1,483 and $2,210, respectively. As of March 31, 2018 and December 31, 2017, the Company had a recorded liability of $1,481 and $2,206 respectively, related to the residual losses covered under the agreement.

Securitizations

On March 29, 2017, the Company entered into a Master Securities Purchase Agreement (MSPA) with Santander, whereby the Company has the option to sell a contractually determined amount of eligible prime loans to Santander, through the SPAIN securitization platform, for a term ending in December 2018. The Company will provide servicing on all loans originated under this arrangement. For the three months ended March 31, 2017, the Company sold $700,000 of loans at fair value under this MSPA arrangement. The MSPA was amended in March 2018 and under this amended agreement, the Company sold $1,475,253 of prime loans at fair value to Santander for the three months ended March 31, 2018. A total loss of $16,903 and $2,700 was recognized for the three months ended March 31, 2018 and March 31, 2017 respectively, which is included in investment losses, net in the accompanying condensed consolidated financial statements. Servicing fee income recognized totaled $4,792 and zero for the three months ended March 31, 2018 and March 31, 2017 respectively of which $2,755 and $1,848 was receivable as of March 31, 2018 and December 31, 2017 respectively. The Company had $15,408 and $12,961 of collections due to Santander as of March 31, 2018 and December 31, 2017 respectively.

CEO compensation

On August 28, 2017, the Board of the Company announced that Scott Powell would succeed Jason Kulas as President and CEO, effective immediately. During the first quarter of year 2018, the Company paid $250 as its share of compensation expense based on time allocation between his services to the Company and SHUSA.

Other related-party transactions

As of March 31, 2018, Jason Kulas and Mr. Thomas G. Dundon, both being former members of the Board and CEO of the Company, along with a Santander employee who was a member of the Board until the second quarter of 2015, each had a minority equity investment in a property in which the Company leases 373,000 square feet as its corporate headquarters. For the three months ended March 31, 2018 and 2017, the Company recorded $1,194 and $1,275, respectively, in lease expenses on this property. The Company subleases approximately 13,000 square feet of its corporate office space to SBNA. For the three months ended March 31, 2018 and 2017, the Company recorded $41 and $41 respectively, in sublease revenue on this property. Future minimum lease payments over the remainder of the 9-year term of the lease, which extends through 2026, total $60,697.

The Company's wholly-owned subsidiary, Santander Consumer International Puerto Rico, LLC (SCI), opened deposit accounts with Banco Santander Puerto Rico, an affiliated entity. As of March 31, 2018 and December 31, 2017, SCI had cash of $189,049 and $106,596, respectively, on deposit with Banco Santander Puerto Rico.

Santander Investment Securities Inc. (SIS), an affiliated entity, serves as co-manager on certain of the Company’s securitizations. Amounts paid to SIS as co-manager for the three months ended March 31, 2018 and 2017, totaled $710 and $150, respectively, and are included in debt issuance costs in the accompanying condensed consolidated financial statements.

Produban Servicios Informaticos Generales S.L., a Santander affiliate, is under contract with the Company to provide professional services, telecommunications, and internal and/or external applications. Expenses incurred, which are included as a component of other operating costs in the accompanying consolidated statements of income, totaled zero and $21 for the three months ended March 31, 2018 and 2017.

Beginning in 2017, the Company and SBNA entered into a Credit Card Agreement (Card Agreement) whereby SBNA will provide credit card services for travel and related business expenses and for vendor payments. This service is at zero cost but generate rebates based on purchases made. As of March 31, 2018, the activities associated with the program were insignificant.

Effective April 1, 2017, the Company contracted Aquanima, a Santander affiliate, to provide procurement services. Expenses incurred and paid for totaled $379 for the three months ended March 31, 2018.

The Company partners with SHUSA to place Cyber Liability Insurance in which participating national entities share $150 million aggregate limits. The Company repays SHUSA for the Company’s equitably allocated portion of insurance premiums and fees. Expenses incurred totaled $92 and $78 for the three months ended March 31, 2018 and 2017, respectively.

Computation of Basic and Diluted Earnings per Common Share

3 Months Ended

Mar. 31, 2018

Earnings Per Share [Abstract]

Computation of Basic and Diluted Earnings per Common Share

Earnings per common share (EPS) is computed using the two-class method required for participating securities. Restricted stock awards are considered to be participating securities because holders of such shares have non-forfeitable dividend rights in the event of a declaration of a dividend on the Company's common shares.

The calculation of diluted EPS excludes 284,951 and 973,230 employee stock options and zero RSUs for the three months ended March 31, 2018 and 2017, respectively, as the effect of exercise or settlement of those securities would be anti-dilutive.

The following table represents EPS numbers for the three months ended March 31, 2018 and 2017:



	Three Months Ended March 31,
	2018		2017
Earnings per common share
Net income	$	242,299	$	143,427
Weighted average number of common shares outstanding before restricted participating shares (in thousands)	360,703		358,939
Weighted average number of participating restricted common shares outstanding (in thousands)	—		166
Weighted average number of common shares outstanding (in thousands)	360,703		359,105
Earnings per common share	$	0.67	$	0.40
Earnings per common share - assuming dilution
Net income	$	242,299	$	143,427
Weighted average number of common shares outstanding (in thousands)	360,703		359,105
Effect of employee stock-based awards (in thousands)	914		1,511
Weighted average number of common shares outstanding - assuming dilution (in thousands)	361,617		360,616
Earnings per common share - assuming dilution	$	0.67	$	0.40

Fair Value of Financial Instruments

3 Months Ended

Mar. 31, 2018

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

Fair value measurement requires that valuation techniques maximize the use of observable inputs and minimize the use of unobservable inputs and also establishes a fair value hierarchy that categorizes into three levels the inputs to valuation techniques used to measure fair value as follows:

Level 1 inputs are quoted prices in active markets for identical assets or liabilities that can be accessed as of the measurement date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis.

Level 2 inputs are those other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active.

Level 3 inputs are those that are unobservable for the asset or liability and are used to measure fair value to the extent relevant observable inputs are not available.

Financial Instruments Disclosed, But Not Carried, At Fair Value

The following tables present the carrying value and estimated fair value of the Company’s financial assets and liabilities disclosed, but not carried, at fair value at March 31, 2018 and December 31, 2017, and the level within the fair value hierarchy:



	March 31, 2018
	Carrying Value		Estimated Fair Value		Level 1		Level 2		Level 3
Assets:
Cash and cash equivalents (a)	$	618,809	$	618,809	$	618,809	$	—	$	—
Finance receivables held for investment, net (b)	22,439,866		24,369,757		—		—		24,369,757
Restricted cash (a)	2,895,615		2,895,615		2,895,615		—		—
Total	$	25,954,290	$	27,884,181	$	3,514,424	$	—	$	24,369,757
Liabilities:
Notes payable — credit facilities (c)	$	5,294,358	$	5,294,358	$	—	$	—	$	5,294,358
Notes payable — secured structured financings (d)	22,862,607		22,932,974		—		13,657,638		9,275,336
Notes payable — related party (e)	3,148,194		3,148,194		—		—		3,148,194
Total	$	31,305,159	$	31,375,526	$	—	$	13,657,638	$	17,717,888



	December 31, 2017
	Carrying Value		Estimated Fair Value		Level 1		Level 2		Level 3
Assets:
Cash and cash equivalents (a)	$	527,805	$	527,805	$	527,805	$	—	$	—
Finance receivables held for investment, net (b)	22,284,068		24,340,739		—		—		24,340,739
Restricted cash (a)	2,553,902		2,553,902		2,553,902		—		—
Total	$	25,365,775	$	27,422,446	$	3,081,707	$	—	$	24,340,739
Liabilities:
Notes payable — credit facilities (c)	$	4,848,316	$	4,848,316	$	—	$	—	$	4,848,316
Notes payable — secured structured financings (d)	22,557,895		22,688,381		—		12,275,408		10,412,973
Notes payable — related party (e)	3,754,223		3,754,223		—		—		3,754,223
Total	$	31,160,434	$	31,290,920	$	—	$	12,275,408	$	19,015,512


(a)	Cash and cash equivalents and restricted cash — The carrying amount of cash and cash equivalents, including restricted cash, is at an approximated fair value as the instruments mature within 90 days or less and bear interest at market rates.


(b)	Finance receivables held for investment, net — Finance receivables held for investment, net are carried at amortized cost, net of an allowance. These receivables exclude retail installment contracts that are measured at fair value on a recurring and nonrecurring basis. The estimated fair value for the underlying financial instruments are determined as follows:


•	Retail installment contracts held for investment, net — The estimated fair value is calculated based on a DCF in which the Company uses significant unobservable inputs on key assumptions, including historical default rates and adjustments to reflect prepayment rates, expected recovery rates, discount rates reflective of the cost of funding, and credit loss expectations.

•

Receivables from dealers held for investment and Capital lease receivables, net — Receivables from dealers held for investment and capital lease receivables are carried at amortized cost, net of credit loss allowance and gross investments, net of unearned income and allowance for lease losses, respectively. Management believes that the terms of these credit agreements approximate market terms for similar credit agreements.


(c)	Notes payable — credit facilities — The carrying amount of notes payable related to revolving credit facilities is estimated to approximate fair value. Management believes that the terms of these credit agreements approximate market terms for similar credit agreements as the facilities are subject to short-term floating interest rates that approximate rates available to the Company.

(d)

Notes payable — secured structured financings — The estimated fair value of notes payable related to secured structured financings is calculated based on market observable prices and spreads for the Company's publicly traded debt and market observed prices of similar notes issued by the Company, or recent market transactions involving similar debt with similar credit risks, which are considered level 2 inputs. The estimated fair value of notes payable related to privately issued amortizing notes is calculated based on a combination of discounted cash flow analysis and market observable spreads for similar liabilities in which the Company uses significant unobservable inputs on key assumptions, including historical default rates and adjustments to reflect prepayment rates, discount rates reflective of the cost of funding, and credit loss expectations, which are considered level 3 inputs.


(e)	Notes payable — related party — The carrying amount of notes payable to a related party is estimated to approximate fair value as the facilities are subject to short-term floating interest rates that approximate rates available to the Company.

Financial Instruments Measured At Fair Value On A Recurring Basis

The following tables present the Company’s assets and liabilities that are measured at fair value on a recurring basis at March 31, 2018 and December 31, 2017, and the level within the fair value hierarchy:



	Fair Value Measurements at March 31, 2018
	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Other assets — trading interest rate caps (a)	$	176,426	$	—	$	176,426	$	—
Due from affiliates — trading interest rate caps (a)	21,241		—		21,241		—
Other assets — cash flow hedging interest rate swaps (a)	71,351		—		71,351		—
Other assets — trading interest rate swaps (a)	16,685		—		16,685		—
Other liabilities — trading options for interest rate caps (a)	176,307		—		176,307		—
Due to affiliates — trading options for interest rate caps (a)	21,241		—		21,241		—
Other liabilities — trading interest rate swaps (a)	211		—		211		—
Retail installment contracts acquired individually (b)	18,850		—		—		18,850



	Fair Value Measurements at December 31, 2017
	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Other assets — trading interest rate caps (a)	$	129,718	$	—	$	129,718	$	—
Due from affiliates — trading interest rate caps (a)	6,112		—		6,112		—
Other assets — cash flow hedging interest rate swaps (a)	39,036		—		39,036		—
Due from affiliates — cash flow hedging interest rate swaps (a)	6,950		—		6,950		—
Other assets — trading interest rate swaps (a)	7,925		—		7,925		—
Due from affiliates — trading interest rate swaps (a)	1,671		—		1,671		—
Other assets — trading options for interest rate caps (a)	20,075		—		20,075		—
Due from affiliates — trading options for interest rate caps (a)	12,090		—		12,090		—
Other liabilities — trading options for interest rate caps (a)	129,712		—		129,712		—
Due to affiliates — trading options for interest rate caps (a)	6,112		—		6,112		—
Other liabilities — trading interest rate caps (a)	20,019		—		20,019		—
Due to affiliates — trading interest rate caps (a)	12,090		—		12,090		—
Retail installment contracts acquired individually (b)	22,124		—		—		22,124

(a)

The valuation is determined using widely accepted valuation techniques including a DCF on the expected cash flows of each derivative. This analysis reflects the contractual terms of the derivative, including the period to maturity, and uses observable market-based inputs. The Company incorporates credit valuation adjustments to appropriately reflect both its own nonperformance risk and the respective counterparty’s nonperformance risk in the fair value measurement of its derivatives. In adjusting the fair value of its derivative contracts for the effect of nonperformance risk, the Company has considered the impact of netting and any applicable credit enhancements, such as collateral postings and guarantees. The Company utilizes the exception in ASC 820-10-35-18D (commonly referred to as the “portfolio exception”) with respect to measuring counterparty credit risk for instruments (Note 7).

(b)

For certain retail installment contracts reported in finance receivables held for investment, net, the Company has elected the fair value option. The fair values of the retail installment contracts are estimated using a DCF model. When estimating the fair value using this model, the Company uses significant unobservable inputs on key assumptions, which includes historical default rates and adjustments to reflect prepayment rates based on available data from a comparable market securitization of similar assets, discount rates reflective of the cost of funding of debt issuance and recent historical equity yields, and recovery rates based on the average severity utilizing reported severity rates and loss severity utilizing available market data from a comparable securitized pool. Accordingly, retail installment contracts held for investment are classified as Level 3. Changes in the fair value are recorded in investment gains (losses), net in the condensed consolidated statement of income.

The following table presents the changes in retail installment contracts held for investment balances classified as Level 3 balances for the three months ended March 31, 2018 and 2017:



	Three Months Ended March 31,
	2018			2017
Balance — beginning of period	$	22,124		$	24,495
Additions / issuances	1,349			13,331
Net collection activities	(5,594		)	(10,113		)
Loans sold	—			—
Transfers to held for sale	—			(12		)
Gains recognized in earnings	971			2,951
Balance — end of period	$	18,850		$	30,652

All total return settlement payments were made as of September 30, 2017, and the derivative instrument has been settled. The following table presents the changes in the total return settlement balance, which was classified as Level 3, for the three months ended March 31, 2017:



Balance — beginning of period	$	30,618
(Gains)/losses recognized in earnings	505
Settlements	—
Balance — end of period	$	31,123

The Company did not have any transfers between Levels 1 and 2 during the three months ended March 31, 2018 and 2017. There were no amounts transferred into or out of Level 3 during the three months ended and March 31, 2018 and 2017.

Financial Instruments Measured At Fair Value On A Nonrecurring Basis

The following table presents the Company’s assets and liabilities that are measured at fair value on a nonrecurring basis at March 31, 2018 and December 31, 2017, and are categorized using the fair value hierarchy:



	Fair Value Measurements at March 31, 2018
	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Lower of cost or fair value expense for the three months ended March 31, 2018
Other assets — vehicles (a)	$	383,657	$	—	$	383,657	$	—	$	—
Personal loans held for sale (b)	967,789		—		—		967,789		58,963
Retail installment contracts held for sale (c)	643,746		—		—		643,746		11,536
Auto loans impaired due to bankruptcy (d)	128,641		—		128,641				82,145



	Fair Value Measurements at December 31, 2017
	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Lower of cost or fair value expense for the year ended December 31, 2017
Other assets — vehicles (a)	$	293,546	$	—	$	293,546	$	—	$	—
Personal loans held for sale (b)	1,062,089		—		—		1,062,089		374,374
Retail installment contracts held for sale (c)	1,148,332		—		—		1,148,332		11,686
Auto loans impaired due to bankruptcy (d)	$	121,578	—		$	121,578	—		75,194

(a) The Company estimates the fair value of its vehicles, which are obtained either through repossession or lease termination, using historical auction rates and current market levels of used car prices.

(b) Represents the portion of the portfolio specifically impaired as of period-end. The estimated fair value for personal loans held for sale is calculated based on the lower of market participant view and a DCF analysis in which the Company uses significant unobservable inputs on key assumptions, including historical default rates and adjustments to reflect prepayment rates, discount rates reflective of the cost of funding, and credit loss expectations. The lower of cost or fair value adjustment for personal loans held for sale includes customer default activity and adjustments related to the net change in the portfolio balance during the reporting period.

(c) At March 31, 2018, as the SPAIN ABS platform matures with several market executions over the last few quarters, the fair value of the retail installments contracts held for sale reserved for future SPAIN transactions are estimated based on contractual pricing methodology used for previous SPAIN transactions. This pricing methodology includes consideration of significant unobservable inputs including investor return expectations (i.e., Yield), expected lifetime cumulative net loss and weighted average life of the retail installment contracts. At December 31, 2017, the estimated fair value was calculated based on a DCF analysis in which the Company used significant unobservable inputs on key assumptions, including expected default rates, prepayment rates, recovery rates, and discount rates reflective of the cost of funds and appropriate rate of returns. The change in methodology did not have a material impact on the fair value of the retail installments contacts held for sale.

(d) For loans that are considered collateral-dependent, such as certain bankruptcy loans, impairment is measured based on the fair value of the collateral, less its estimated cost to sell. For the underlying collateral, the estimated fair value is obtained using historical auction rates and current market levels of used car prices.

Quantitative Information about Level 3 Fair Value Measurements

The following table presents quantitative information about the significant unobservable inputs for assets and liabilities measured at fair value on a recurring and nonrecurring basis at March 31, 2018 and December 31, 2017:



Financial Instruments	Fair Value at March 31, 2018		Valuation Technique	Unobservable Inputs	Range
Financial Assets:
Retail installment contracts held for investment	$	18,850	Discounted Cash Flow	Discount Rate	8%-10%
				Default Rate	15%-20%
				Prepayment Rate	6%-8%
				Loss Severity Rate	50%-60%
Personal loans held for sale	$	967,789	Lower of Market or Income Approach	Market Approach
				Market Participant View	70%-80%
				Income Approach
				Discount Rate	15%-20%

				Default Rate	30%-40%
				Net Principal Payment Rate	50%-70%
				Loss Severity Rate	90%-95%
Retail installment contracts held for sale	$	643,746	Income Approach	Expected Yield	1%-2%
				Expected Lifetime Cumulative Net Loss	4%-6%
				Weighted Average Life	2 - 3 years



Financial Instruments	Fair Value at December 31, 2017		Valuation Technique	Unobservable Inputs	Range
Financial Assets:
Retail installment contracts held for investment	$	22,124	Discounted Cash Flow	Discount Rate	8%-10%
				Default Rate	15%-20%
				Prepayment Rate	6%-8%
				Loss Severity Rate	50%-60%
Personal loans held for sale	$	1,062,089	Lower of Market or Income Approach	Market Approach
				Market Participant View	70%-80%
				Income Approach
				Discount Rate	15%-20%

				Default Rate	30%-40%
				Net Principal Payment Rate	50%-70%
				Loss Severity Rate	90%-95%
Retail installment contracts held for sale	$	1,148,332	Discounted Cash Flow	Discount Rate	3%-6%
				Default Rate	3%-4%
				Prepayment Rate	15%-20%
				Loss Severity Rate	50%-60%

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Employee Benefit Plans

3 Months Ended

Mar. 31, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Employee Benefit Plans

The Company has granted stock options to certain executives, other employees, and independent directors under the 2011 Management Equity Plan (the Plan), which enabled the Company to make stock awards up to a total of approximately 29 million common shares (net of shares canceled and forfeited), and expired on January 31, 2015. The Company has granted stock options, restricted stock awards and restricted stock units (RSUs) under the Omnibus Incentive Plan, which was established in 2013 and enables the Company to grant awards of cash and of non-qualified and incentive stock options, stock appreciation rights, restricted stock awards, RSUs, and other awards that may be settled in or based upon the value of the Company's common stock up to a total of 5,192,641 common shares. The Omnibus Incentive Plan was amended and restated as of June 16, 2016.

Stock options granted have an exercise price based on the estimated fair market value of the Company’s common stock on the grant date. The stock options expire ten years after grant date and include both time vesting options and performance vesting options. The fair value of the stock options is amortized into income over the vesting period as time and performance vesting conditions are met.

Compensation expense related to the 583,890 shares of restricted stock that the Company has issued to certain executives is recognized over a five-year vesting period, with zero and $178 recorded for the three months ended March 31, 2018 and 2017, respectively. During the three months ended March 31, 2018 and 2017, the Company recognized $4,208 and $2,067 respectively related to stock options and restricted stock units within compensation expense. In addition, the Company recognize forfeitures as they occur.

A summary of the Company’s stock options and related activity as of and for the three months ended March 31, 2018 is as follows:



	Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value
Options outstanding at January 1, 2018	1,695,008		$	12.39	4.7	$	12,058
Granted	—		—		—	—
Exercised	(205,306	)	9.48		—	1,553
Expired	(4,200	)	22.72		—	—
Forfeited	(64,268	)	23.72		—	—
Options outstanding at March 31, 2018	1,421,234		12.26		3.8	7,546
Options exercisable at March 31, 2018	1,279,659		$	11.37	3.5	$	7,465

In connection with compensation restrictions imposed on certain executive officers and other employees by the European Central Bank under the Capital Requirements Directive IV prudential rules, which require a portion of such officers' and employees' variable compensation to be paid in the form of equity, the Company periodically grants RSUs. Such RSUs were granted during the three months ended March 31, 2018. Under the Company's Omnibus Incentive Plan, a portion of these RSUs vest immediately upon grant, and a portion vest annually over the following three or five years or subject to the achievement of certain performance conditions as applicable. After the shares subject to the RSUs vest and are settled, they are subject to transfer and sale restrictions for one year. The Company also has granted certain directors RSUs that vest either upon the earlier of the first anniversary of grant date or the first annual meeting following the grant date.

A summary of the Company’s Restricted Stock Units and Performance stock units and related activity as of and for the three months ended March 31, 2018 is as follows:



	Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value
Outstanding as of January 1, 2018	$	650,252		$	12.68	1.0	$	12,108
Granted	519,772			16.12		—	—
Vested	(377,233		)	14.53		—	6,107
Forfeited/canceled	(13,909		)	12.81		—	—
Unvested as of March 31, 2018	778882			14.09		1.5	12696

Shareholders' Equity

3 Months Ended

Mar. 31, 2018

Equity [Abstract]

Shareholders' Equity

Treasury Stock

The Company had 252,002 shares of treasury stock outstanding, with a cost of $5,370, as of March 31, 2018 and December 31, 2017. Prior to the IPO, the Company repurchased 3,154 shares as a result of an employee leaving the Company. Additionally, 248,848 shares were withheld to cover income taxes related to stock issued in connection with employee incentive compensation plans. The value of the treasury stock is immaterial and included within additional paid-in-capital.

Accumulated Other Comprehensive Income (Loss)

A summary of changes in accumulated other comprehensive income (loss), net of tax, for the three months ended March 31, 2018 and 2017 is as follows:



	Three Months Ended
	March 31, 2018			March 31, 2017
Beginning balance, unrealized gains (losses) on cash flow hedges	$	44,262		$	28,259
Other comprehensive income (loss) before reclassifications (gross) (a)	22,919			9,900
Amounts (gross) reclassified out of accumulated other comprehensive income (loss)	(3,970		)	(2,655		)
Ending balance, unrealized gains (losses) on cash flow hedges	$	63,211		$	35,504

(a) Includes impact of accumulated other comprehensive income reclassified to Retained earnings, primarily comprised of $6,149 as a result of the adoption of ASU 2018-02. Refer to Note 1 for further discussion.

Amounts (gross) reclassified out of accumulated other comprehensive income (loss) during the three months ended March 31, 2018 and 2017 consist of the following:



	Three Months Ended March 31, 2018				Three Months Ended March 31, 2017
Reclassification	Amount reclassified			Income statement line item	Amount reclassified			Income statement line item

Cash flow hedges	$	(4,578	)	Interest expense	$	(4,240	)	Interest expense
Tax expense (benefit)	608				1,585
Net of tax	$	(3,970	)		$	(2,655	)

Dividends

The Company paid dividend of $0.05 per share in February 2018 and has declared a cash dividend of $0.05 per share, to be paid on May 14, 2018, to shareholders of record as of the close of business on May 4, 2018.

Investment Losses, Net

3 Months Ended

Mar. 31, 2018

Investments, Debt and Equity Securities [Abstract]

Investment Losses, Net

When the Company sells retail installment contracts acquired individually, personal loans or leases to unrelated third parties or to VIEs and determines that such sale meets the applicable criteria for sale accounting, the Company recognizes a gain or loss for the difference between the cash proceeds and carrying value of the assets sold. The gain or loss is recorded in investment gains (losses), net. Lower of cost or market adjustments on the recorded investment of finance receivables held for sale are also recorded in investment gains (losses), net.

Investment gains (losses), net was comprised of the following for the three months ended March 31, 2018 and 2017:



	Three Months Ended
	March 31, 2018			March 31, 2017
Gain (loss) on sale of loans and leases	$	(16,696	)	$	(10,882	)
Lower of cost or market adjustments	(70,499		)	(66,121		)
Other gains, losses and impairments, net	675			604
	$	(86,520	)	$	(76,399	)

The lower of cost or market adjustments for the three months ended March 31, 2018 and 2017 included $105,774 and $116,641 in customer default activity, respectively, and net favorable adjustments of $35,275 and $50,520, respectively, primarily related to net changes in the unpaid principal balance on the personal lending portfolio, most of which has been classified as held for sale since September 30, 2015.

Description of Business, Basis of Presentation, and Significant Accounting Policies and Practices (Policies)

3 Months Ended

Mar. 31, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Basis of Presentation

The accompanying condensed consolidated financial statements include the accounts of the Company and its subsidiaries, including certain Trusts, which are considered VIEs. The Company also consolidates other VIEs for which it was deemed to be the primary beneficiary. All intercompany balances and transactions have been eliminated in consolidation.

The accompanying condensed consolidated financial statements as of March 31, 2018 and December 31, 2017, and for the three months ended March 31, 2018 and 2017, have been prepared in accordance with U.S. GAAP for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, these financial statements contain all adjustments, consisting of normal recurring adjustments, necessary for the fair statement of the financial position, results of operations and cash flows for the periods indicated. Results of operations for the periods presented herein are not necessarily indicative of results of operations for the entire year. These financial statements should be read in conjunction with the 2017 Annual Report on Form 10-K.

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and the disclosures of contingent assets and liabilities, as of the date of the financial statements and the amount of revenue and expenses during the reporting periods. Actual results could differ from those estimates and those differences may be material. These estimates include the determination of credit loss allowance, discount accretion, impairment, fair value, expected end-of-term lease residual values, values of repossessed assets, and income taxes. These estimates, although based on actual historical trends and modeling, may potentially show significant variances over time.

Business Segment Information

The Company has one reportable segment: Consumer Finance, which includes the Company’s vehicle financial products and services, including retail installment contracts, vehicle leases, and dealer loans, as well as financial products and services related to recreational vehicles, and marine vehicles. It also includes the Company’s personal loan and point-of-sale financing operations.

Recently Adopted Accounting Standards and Recently Issued Accounting Pronouncements

Recently Adopted Accounting Standards

Since January 1, 2018, the Company adopted the following Financial Accounting Standards Board (FASB) Accounting Standards Updates (ASUs):

•

ASU 2014-09, Revenue from Contracts with Customers (Topic 606) as amended. This ASU, requires an entity to recognize revenue for the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. It includes a five-step process to assist an entity in achieving the main principles of revenue recognition under ASC 606. Because the ASU does not apply to revenue associated with leases and financial instruments (including loans, securities, and derivatives), it did not have a material impact on the elements of the Company's Consolidated Statements of Operations most closely associated with leases and financial instruments (such as interest income, interest expense and investment gains and losses). All other revenue streams in the scope of the new standard were not material. The Company adopted this standard as of January 1, 2018 using a modified retrospective approach. The adoption of this standard did not require any adjustments to the opening balance of retained earnings as of January 1, 2018.

•

ASU 2016-18, Statement of Cash Flows (Topic 230). Restricted Cash (A consensus of the FASB Emerging Issues Task Force), which requires that the statement of cash flows include restricted cash in the beginning and end-of-period total amounts shown on the statement of cash flows and that the statement of cash flows explain changes in restricted cash during the period. The Company adopted this standard as of January 1, 2018 using retrospective approach. The impact of this adoption was disclosure only for periods presented on the Company's Statements of Cash Flows.

•

ASU 2017-12, Derivatives and Hedging: Targeted Improvements to Accounting for Hedging Activities. The new guidance amends the hedge accounting model to enable entities to more accurately reflect their risk management activities in the financial statements. The amendments expand an entity’s ability to hedge nonfinancial and financial risk components and reduce complexity in hedges of interest rate risk. The guidance eliminates the requirement to separately measure and report hedge ineffectiveness and generally requires the entire change in the fair value of a hedging instrument to be presented in the same income statement line in which the earnings effect of the hedged item is reported. The new guidance is effective for public business entities for fiscal years beginning after December 15, 2018, with early adoption, including adoption in an interim period, permitted. The Company elected to early adopt this standard as of January 1, 2018 using modified retrospective approach. The adoption of this standard did not require any adjustments to the opening balance of retained earnings for cumulative-effect adjustment related to eliminating the separate measurement of ineffectiveness.

•

ASU 2018-02, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. The amendments in this ASU allow a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act. The new guidance is effective for public business entities for fiscal years beginning after December 15, 2018, with early adoption, including adoption in an interim period, permitted. The Company elected to early adopt this standard as of January 1, 2018 and has reclassified $6,149 stranded income tax effects from accumulated other comprehensive income to retained earnings.

The adoption of the following ASUs did not have an impact on the Company's business financial position or results of operations.


•	ASU 2016-01, Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities, as amended


•	ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments


•	ASU 2016-16, Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory


•	ASU 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business


•	ASU 2017-05, Other Income - Gains and Losses from the Derecognition of Nonfinancial Assets (Subtopic 610-20): Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets


•	ASU 2017-07, Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost


•	ASU 2017-09, Compensation-Stock Compensation (Topic 718): Scope of Modification Accounting


•	ASU 2018-05, Income Taxes (Topic 740): Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 118

Recently Issued Accounting Pronouncements

In February 2016, the FASB issued ASU 2016-02, Leases, which will, among other impacts, change the criteria under which leases are identified and accounted for as on- or off-balance sheet. The guidance will be effective for the fiscal year beginning after December 15, 2018, including interim periods within that year. Once effective, the new guidance must be applied for all periods presented. The Company is in the process of reviewing its existing property and equipment lease contracts as well as service contracts that may include embedded leases. Upon adoption, the Company will gross up its balance sheet by the present value of future minimum lease payments for these operating leases. The Company does not intend to early adopt this ASU.

In June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses, which changes the criteria under which credit losses are measured. The amendment introduces a new credit reserving model known as the Current Expected Credit Loss (CECL) model, which replaces the incurred loss impairment methodology in current U.S. GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to establish credit loss estimates. The guidance will be effective for the fiscal year beginning after December 15, 2019, including interim periods within that year. The Company does not intend to adopt the new standard early and is currently evaluating the impact the new guidance will have on its financial position, results of operations and cash flows; however, it is expected that the new CECL model will alter the assumptions used in calculating the Company's credit losses, given the change to estimated losses for the estimated life of the financial asset, and will likely result in material changes to the Company’s credit and capital reserves.

In addition to those described in detail above, the Company is also in the process of evaluating the following ASUs and does not expect them to have a material impact on the Company's business, financial position, results of operations or disclosures:


•	ASU 2017-06, Plan Accounting: Defined Benefit Pension Plans (Topic 960), Defined Contribution Pension Plans (Topic 962), Health and Welfare Benefit Plans (Topic 965): Employee Benefit Plan Master Trust Reporting (a consensus of the Emerging Issues Task Force)


•	ASU 2017-08, Receivables - Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities

•

ASU 2017-11, Earnings Per Share (Topic 260); Distinguishing Liabilities from Equity (Topic 480); Derivatives and Hedging (Topic 815): (Part I) Accounting for Certain Financial Instruments with Down Round Features, (Part II) Replacement of the Indefinite Deferral for Mandatorily Redeemable Financial Instruments of Certain Nonpublic Entities and Certain Mandatorily Redeemable Noncontrolling Interests with a Scope Exception.

Finance Receivables (Tables)

3 Months Ended

Mar. 31, 2018

Receivables [Abstract]

Summary of Financing Receivables Held for Investment

Finance receivables held for investment, net is comprised of the following at March 31, 2018 and December 31, 2017:



	March 31, 2018		December 31, 2017
Retail installment contracts acquired individually (a)	$	22,526,948	$	22,362,509
Purchased receivables	25,345		27,839
Receivables from dealers	15,334		15,623
Personal loans	3,582		4,459
Capital lease receivables (Note 3)	16,149		17,339
Finance receivables held for investment, net	$	22,587,358	$	22,427,769

(a) The Company has elected the fair value option for certain retail installment contracts reported in finance receivables held for investment, net. As at March 31, 2018 and December 31, 2017, $18,850 and $22,124 of loans were recorded at fair value (Note 13).

The Company's held for investment portfolio of retail installment contracts acquired individually, receivables from dealers, and personal loans is comprised of the following at March 31, 2018 and December 31, 2017:



	March 31, 2018
	Retail Installment Contracts Acquired Individually						Receivables from Dealers			Personal Loans
	Non-TDR			TDR			Receivables from Dealers			Personal Loans
Unpaid principal balance	$	19,987,763		$	5,998,768		$	15,495		$	5,158
Credit loss allowance - specific	—			(1,595,465		)	—			—
Credit loss allowance - collective	(1,586,557		)	—			(161		)	(1,714		)
Discount	(281,345		)	(64,034		)	—			—
Capitalized origination costs and fees	62,400			5,418			—			138
Net carrying balance	$	18,182,261		$	4,344,687		$	15,334		$	3,582



	December 31, 2017
	Retail Installment Contracts Acquired Individually						Receivables from Dealers			Personal Loans
	Non-TDR			TDR			Receivables from Dealers			Personal Loans
Unpaid principal balance	$	19,681,394		$	6,261,894		$	15,787		$	6,887
Credit loss allowance - specific	—			(1,731,320		)	—
Credit loss allowance - collective	(1,529,815		)	—			(164		)	(2,565		)
Discount	(309,191		)	(74,832		)	—			(1		)
Capitalized origination costs and fees	58,638			5,741			—			138
Net carrying balance	$	17,901,026		$	4,461,483		$	15,623		$	4,459

Purchased receivables portfolios, which were acquired with deteriorated credit quality, is comprised of the following at March 31, 2018 and December 31, 2017:



	March 31, 2018		December 31, 2017
Outstanding balance	$	39,361	$	43,474
Outstanding recorded investment, net of impairment	25,534		28,069

Changes in Accretable Yield on Purchased Receivables Portfolios

Changes in accretable yield on the Company’s purchased receivables portfolios for the periods indicated were as follows:



	For the Three Months Ended March 31,
	2018			2017
Balance — beginning of period	$	19,464		$	107,041
Accretion of accretable yield	(2,840		)	(11,144		)
Disposals/transfers	—			—
Reclassifications from (to) nonaccretable difference (a)	1,822			2,049
Balance — end of period	$	18,446		$	97,946

(a) Reclassifications from (to) nonaccretable difference represents the increases (decreases) in accretable yield resulting from higher (lower) estimated undiscounted cash flows.

Schedule of Carrying Values of Finance Receivables Held for Sale

The carrying value of the Company's finance receivables held for sale, net is comprised of the following at March 31, 2018 and December 31, 2017:



	March 31, 2018		December 31, 2017
Retail installment contracts acquired individually	$	643,746	$	1,148,332
Personal loans	967,789		1,062,089
Finance receivables held for sale, net	$	1,611,535	$	2,210,421

Schedule of Sales of Retail Installment Contracts and Charged-off Assets

Sales of retail installment contracts and proceeds from sales of charged-off assets for the three months ended March 31, 2018 and 2017 were as follows:



	For the Three Months Ended March 31,
	2018		2017
Sales of retail installment contracts to third parties	$	—	$	230,568
Sales of retail installment contracts to affiliates	1,475,253		700,022
Proceeds from sales of charged-off assets to third parties	18,237		21,343

Schedule of Servicing of Retail Installment Contracts

Total contracts sold to unrelated third parties and serviced as of March 31, 2018 and December 31, 2017 were as follows:



	March 31, 2018		December 31, 2017
Serviced balance of retail installment contracts and leases sold to third parties	$	4,965,059	$	5,771,085

Leases (Tables)

3 Months Ended

Mar. 31, 2018

Leases [Abstract]

Summary of Leased Vehicles

Leased vehicles, net, which is comprised of leases originated under the Chrysler Agreement, consisted of the following as of March 31, 2018 and December 31, 2017:



	March 31, 2018			December 31, 2017
Leased vehicles	$	14,660,698		$	14,285,769
Less: accumulated depreciation	(3,007,858		)	(3,110,167		)
Depreciated net capitalized cost	11,652,840			11,175,602
Manufacturer subvention payments, net of accretion	(1,076,716		)	(1,042,477		)
Origination fees and other costs	36,700			27,202
Net book value	$	10,612,824		$	10,160,327

Summary of Minimum Rental Payments under Operating Leases

The following summarizes the future minimum rental payments due to the Company as lessor under operating leases as of March 31, 2018:




Remainder of 2018	$	1,376,726
2019	1,309,509
2020	634,099
2021	49,097
2022	153
Thereafter	—
Total	$	3,369,584

Schedule of Capital Lease Receivables

Capital lease receivables, net consisted of the following as of March 31, 2018 and December 31, 2017:



	March 31, 2018			December 31, 2017
Gross investment in capital leases	$	25,992		$	27,234
Origination fees and other	155			124
Less: unearned income	(4,241		)	(4,377		)
Net investment in capital leases before allowance	21,906			22,981
Less: allowance for lease losses	(5,757		)	(5,642		)
Net investment in capital leases	$	16,149		$	17,339

Summary of Future Minimum Lease Payments for Capital Leases

The following summarizes the future minimum lease payments due to the Company as lessor under capital leases as of March 31, 2018:




Remainder of 2018	$	7,809
2019	7,046
2020	5,004
2021	3,322
2022	2,752
Thereafter	59
Total	$	25,992

Credit Loss Allowance and Credit Quality (Tables)

3 Months Ended

Mar. 31, 2018

Loans and Leases Receivable Disclosure [Abstract]

Summary of Activity in Loan Loss Allowance

The activity in the lease loss allowance for capital leases for the three months ended March 31, 2018 and 2017 was as follows:



	Three Months Ended March 31,
	2018			2017
Balance — beginning of period	$	5,642		$	9,988
Provision for lease losses	421			(2,069		)
Charge-offs	(1,381		)	(3,679		)
Recoveries	1,075			2,365
Balance — end of period	$	5,757		$	6,605

The activity in the credit loss allowance for individually acquired and dealer loans for the three months ended March 31, 2018 and 2017 was as follows:



	Three Months Ended March 31, 2018
	Retail Installment Contracts Acquired Individually			Receivables from Dealers			Personal Loans
	Retail Installment Contracts Acquired Individually			Receivables from Dealers			Personal Loans
Balance — beginning of period	$	3,261,135		$	164		$	2,565
Provision for credit losses	458,679			(3		)	(102		)
Charge-offs (a)	(1,199,021		)	—			(1,068		)
Recoveries	661,229			—			319
Balance — end of period	$	3,182,022		$	161		$	1,714

(a) For the three months ended March 31, 2018, charge-offs for retail installment contracts acquired individually includes approximately $7 million for the partial write-down of loans to the collateral value less estimated costs to sell, for which a bankruptcy notice was received. There is no additional credit loss allowance on these loans.



	Three Months Ended March 31, 2017
	Retail Installment Contracts Acquired Individually			Receivables from Dealers		Personal Loans
	Retail Installment Contracts Acquired Individually			Receivables from Dealers		Personal Loans
Balance — beginning of period	$	3,411,055		$	724	$	—
Provision for credit losses	629,097			10		7,975
Charge-offs (a)	(1,224,697		)	—		(3,632		)
Recoveries	625,764			—		174
Balance — end of period	$	3,441,219		$	734	$	4,517

(a) For the three months ended March 31, 2017, charge-offs for retail installment contracts acquired individually includes approximately $24 million for the partial write-down of loans to the collateral value less estimated costs to sell, for which a bankruptcy notice was received. There is no additional credit loss allowance on these loans.

Summary of Delinquencies

A summary of delinquencies as of March 31, 2018 and December 31, 2017 is as follows:



	March 31, 2018
	Retail Installment Contracts Held for Investment
	Loans Acquired Individually		Purchased Receivables Portfolios		Total
Principal, 30-59 days past due	$	2,234,126	$	4,299	$	2,238,425
Delinquent principal over 59 days (a)	1,087,491		2,157		1,089,648
Total delinquent principal	$	3,321,617	$	6,456	$	3,328,073



	December 31, 2017
	Retail Installment Contracts Held for Investment
	Loans Acquired Individually		Purchased Receivables Portfolios		Total
Principal, 30-59 days past due	$	2,822,686	$	4,992	$	2,827,678
Delinquent principal over 59 days (a)	1,541,728		2,855		1,544,583
Total delinquent principal	$	4,364,414	$	7,847	$	4,372,261

(a) Interest is accrued until 60 days past due in accordance with the Company's accounting policy for retail installment contracts. The Company's delinquency ratio continues to be calculated using the end of period delinquent principal over 60 days. Refer to Item 2 "Selected Financial Data" for details on delinquent principal over 60 days and related delinquency ratios.

Summary of Retail Installment Contracts Held for Investment on Nonaccrual Status

, retail installment contracts acquired individually held for investment that were placed on nonaccrual status, as of March 31, 2018 and December 31, 2017:



	March 31, 2018				December 31, 2017
	Amount		Percent (a)		Amount		Percent (a)
Non-TDR	$	470,674	1.8	%	$	666,926	2.6	%
TDR	1,346,148		5.2	%	1,390,373		5.4	%
Total nonaccrual principal	$	1,816,822	7.0	%	$	2,057,299	7.9	%

(a) Percent of unpaid principal balance of retail installment contracts individually held for investment.

Summary of Credit Risk Profile

A summary of the credit risk profile of the Company’s retail installment contracts held for investment by FICO^® distribution, determined at origination, as of March 31, 2018 and December 31, 2017 was as follows:



FICO^® Band	March 31, 2018 (b)	December 31, 2017 (b)
Commercial (a)	2.2%	2.5%
No-FICOs	11.2%	11.2%
<540	21.6%	21.8%
540-599	32.4%	32.0%
600-639	17.6%	17.4%
>640	15.0%	15.1%

(a)No FICO score is obtained on loans to commercial borrowers.

(b)Percentages are based on unpaid principal balance.

Summary Commercial Loan Credit Quality Indicators

Fleet loan credit quality indicators for retail installment contracts held for investment with commercial borrowers as of March 31, 2018 and December 31, 2017 were as follows:



	March 31, 2018		December 31, 2017
Pass	$	11,154	$	12,276
Special Mention	4,812		5,324
Substandard	600		715
Doubtful	—		—
Loss	—		—
Total (Unpaid principal balance)	$	16,566	$	18,315

Commercial loan credit quality indicators for receivables from dealers held for investment as of March 31, 2018 and December 31, 2017 were as follows:



	March 31, 2018		December 31, 2017
Pass	$	13,910	$	14,130
Special Mention	1,585		1,657
Substandard	—		—
Doubtful	—		—
Loss	—		—
Total (Unpaid principal balance)	$	15,495	$	15,787

Summary of TDRs

The table below presents the Company’s TDRs as of March 31, 2018 and December 31, 2017:



	March 31, 2018			December 31, 2017
	Retail Installment Contracts
Outstanding recorded investment (a)	$	5,978,182		$	6,261,432
Impairment	(1,595,465		)	(1,731,320		)
Outstanding recorded investment, net of impairment	$	4,382,717		$	4,530,112

(a) As of March 31, 2018, the outstanding recorded investment excludes $68.1 million of collateral-dependent bankruptcy TDRs that has been written down by $31.1 million to fair value less cost to sell. As of December 31, 2017, the outstanding recorded investment excludes $64.7 million of collateral-dependent bankruptcy TDRs that has been written down by $29.2 million to fair value less cost to sell.

Summary of Delinquent TDRs

A summary of the Company’s delinquent TDRs at March 31, 2018 and December 31, 2017, is as follows:



	March 31, 2018		December 31, 2017
	Retail Installment Contracts (a)
Principal, 30-59 days past due	$	1,097,661	$	1,332,239
Delinquent principal over 59 days	576,396		818,938
Total delinquent TDR principal	$	1,674,057	$	2,151,177

(a) The balances in the above table reflects total unpaid principal balance rather than net recorded investment before allowance.

Average Recorded Investment and Income Recognized on TDR Loans

Average recorded investment and income recognized on TDR loans are as follows:



	Three Months Ended
	March 31, 2018		March 31, 2017
	Retail Installment Contracts
Average outstanding recorded investment in TDRs	$	6,078,203	$	5,711,412
Interest income recognized	$	241,211	$	260,352

Summary of Financial Effects of TDRs

The following table summarizes the financial effects, excluding impacts related to credit loss allowance and impairment, of TDRs that occurred for the three months ended March 31, 2018 and 2017:



	Three Months Ended
	March 31, 2018		March 31, 2017
	Retail Installment Contracts
Outstanding recorded investment before TDR	$	584,448	$	881,699
Outstanding recorded investment after TDR	$	582,664	$	866,278
Number of contracts (not in thousands)	34,374		49,499

Summary of Loan Restructuring Accounted for as TDRs

Loan restructurings accounted for as TDRs within the previous twelve months that subsequently defaulted during the three months ended March 31, 2018 and 2017 are summarized in the following table:



	Three Months Ended
	March 31, 2018		March 31, 2017
	Retail Installment Contracts
Recorded investment in TDRs that subsequently defaulted (a)	$	195,265	$	211,697
Number of contracts (not in thousands)	11,540		11,894

(a) For TDR modifications and TDR modifications that subsequently defaults, the allowance methodology remains unchanged, however the transition rates of the TDR loans are adjusted to reflect the respective risks.

Debt (Tables)

3 Months Ended

Mar. 31, 2018

Debt Disclosure [Abstract]

Schedule of Credit Facilities

The following table presents information regarding credit facilities as of March 31, 2018 and December 31, 2017:



	March 31, 2018
	Maturity Date(s)	Utilized Balance		Committed Amount		Effective Rate	Assets Pledged		Restricted Cash Pledged
Facilities with third parties
Warehouse line	August 2019	$	229,984	$	500,000	3.74%	$	348,645	$	19,915
Warehouse line	Various (a)	603,145		1,250,000		2.71%	865,991		24,063
Warehouse line (b)	August 2019	2,105,843		3,900,000		3.42%	3,108,422		68,631
Warehouse line	December 2018	—		300,000		—%	—		—
Warehouse line	October 2019	611,477		1,800,000		3.43%	839,499		14,727
Repurchase facility (d)	Various (c)	291,949		291,949		3.49%	407,299		12,962
Repurchase facility (d)	April 2018 (e)	196,727		196,727		3.06%	257,054		—
Repurchase facility (d)	June 2018	153,177		153,177		3.80%	222,108		—
Repurchase facility (d)	December 2018	67,772		67,772		3.55%	156,202		—
Warehouse line	November 2019	297,699		1,000,000		3.63%	420,623		11,557
Warehouse line	October 2019	148,565		400,000		3.65%	206,287		4,070
Warehouse line	November 2019	358,220		500,000		2.06%	421,622		21,337
Warehouse line	October 2018	229,800		300,000		3.37%	268,054		10,719
Total facilities with third parties		5,294,358		10,659,625			7,521,806		187,981
Facilities with Santander and related subsidiaries:
Line of credit (f)	December 2018	30,000		1,000,000		3.09%	30,000		—
Promissory Note (g)	December 2021	250,000		250,000		3.70%	—		—
Promissory Note (g)	December 2022	250,000		250,000		3.95%	—		—
Promissory Note (g)	March 2019	300,000		300,000		3.38%	—		—
Promissory Note (g)	October 2020	400,000		400,000		3.10%	—		—
Promissory Note (g)	May 2020	500,000		500,000		3.49%	—		—
Promissory Note (g) (h)	March 2022	650,000		650,000		4.20%	—		—
Promissory Note (g)	August 2021	650,000		650,000		3.44%	—		—
Line of credit (f)	December 2018	114,200		750,000		4.34%	126,392		2,376
Line of credit (f)	March 2019	—		3,000,000		3.94%	—		—
Total facilities with Santander and related subsidiaries		3,144,200		7,750,000			156,392		2,376
Total revolving credit facilities		$	8,438,558	$	18,409,625		$	7,678,198	$	190,357

(a) Half of the outstanding balance on this facility matures in March 2019 and remaining balance matures in March 2020.

(b) This line is held exclusively for financing of Chrysler Capital leases.

(c) The maturity of this repurchase facility ranges from April 2018 to July 2018.

(d) These repurchase facilities are collateralized by securitization notes payable retained by the Company. These facilities have rolling maturities of up to one year. As the borrower, we are exposed to liquidity risk due to changes in the market value of the retained securities pledged. In some instances, we place or receive cash collateral with counterparties under collateral arrangements associated with our repurchase agreements.

(e) Half of this repurchase facility was settled on maturity in April 2018 and remaining balance of this repurchase facility was extended to July 2018.


(f)	These lines are also collateralized by securitization notes payable and residuals retained by the Company.


(g)	As of March 31, 2018 and December 31, 2017, $3,000,000 and $3,000,000, respectively, of the aggregate outstanding balances on these facilities were unsecured.

(h)

In 2017, the Company entered into an interest rate swap to hedge the interest rate risk on this fixed rate debt. This derivative was designated as fair value hedge at inception. This was later terminated and the unamortized fair value hedge adjustment as of March 31, 2018 and December 31, 2017 was $$3,994 and $4,223, the amortization of which will reduce interest expense over the remaining life of the fixed rate debt.



	December 31, 2017
	Maturity Date(s)	Utilized Balance		Committed Amount		Effective Rate	Assets Pledged		Restricted Cash Pledged
Facilities with third parties:
Warehouse line	January 2018	$	336,484	$	500,000	2.87%	$	473,208	$	—
Warehouse line	Various	339,145		1,250,000		2.53%	461,353		12,645
Warehouse line	August 2019	2,044,843		3,900,000		2.96%	2,929,890		53,639
Warehouse line	December 2018	—		300,000		1.49%	—		—
Warehouse line	October 2019	226,577		1,800,000		4.95%	311,336		6,772
Repurchase facility	Various	325,775		325,775		3.24%	474,188		13,842
Repurchase facility	April 2018	202,311		202,311		2.67%	264,120		—
Repurchase facility	March 2018	147,500		147,500		3.91%	222,108		—
Repurchase facility	March 2018	68,897		68,897		3.04%	95,762		—
Warehouse line	November 2019	403,999		1,000,000		2.66%	546,782		14,729
Warehouse line	October 2019	81,865		400,000		4.09%	114,021		3,057
Warehouse line	November 2019	435,220		500,000		1.92%	521,365		16,866
Warehouse line	October 2018	235,700		300,000		2.84%	289,634		10,474
Total facilities with third parties		4,848,316		10,694,483			6,703,767		132,024
Facilities with Santander and related subsidiaries:
Line of credit	December 2018	—		1,000,000		3.09%	—		—
Promissory Note	December 2021	250,000		250,000		3.70%	—		—
Promissory Note	December 2022	250,000		250,000		3.95%	—		—
Promissory Note	March 2019	300,000		300,000		2.67%	—		—
Promissory Note	October 2020	400,000		400,000		3.10%	—		—
Promissory Note	May 2020	500,000		500,000		3.49%	—		—
Promissory Note	March 2022	650,000		650,000		4.20%	—		—
Promissory Note	August 2021	650,000		650,000		3.44%	—		—
Line of credit	December 2018	750,000		750,000		1.33%	—		—
Line of credit	March 2019	—		3,000,000		3.94%	—		—
Total facilities with Santander and related subsidiaries		3,750,000		7,750,000			—		—
Total revolving credit facilities		$	8,598,316	$	18,444,483		$	6,703,767	$	132,024

Summary of Secured Structured Financings

The following table presents information regarding secured structured financings as of March 31, 2018 and December 31, 2017:



	March 31, 2018
	Estimated Maturity Date(s)	Balance		Initial Note Amounts Issued		Initial Weighted Average Interest Rate	Collateral (b)		Restricted Cash
2013 Securitization	March 2021	$	159,041	$	2,260,930	1.24%	$	183,756	$	46,212
2014 Securitizations	February 2020 - April 2022	982,601		6,391,020		1.16% - 1.72%	1,163,941		218,420
2015 Securitizations	June 2020 - January 2023	2,132,438		9,158,532		1.33% - 2.29%	3,019,846		378,911
2016 Securitizations	April 2022 - March 2024	3,153,267		7,462,790		1.63%-2.80%	4,221,844		366,250
2017 Securitizations	April 2023 - September 2024	6,433,289		9,296,570		1.35% - 2.52%	8,691,397		487,993
2018 Securitizations	May 2022 - May 2025	3,082,538		3,415,030		2.41% - 2.77%	3,629,647		131,952
Public Securitizations (a)		15,943,174		37,984,872			20,910,431		1,629,738
2011 Private issuance	September 2028	213,510		1,700,000		1.46%	332,325		21,100
2013 Private issuances	August 2021-September 2024	1,848,474		2,044,054		1.28%-1.38%	3,118,953		221,752
2014 Private issuance	November 2021	74,908		1,530,125		1.10%	157,838		8,355
2015 Private issuances	November 2018 - September 2021	1,723,235		2,058,187		0.88%-2.80%	733,193		101,080
2016 Private issuances	May 2020 - September 2024	1,215,814		3,050,000		1.55%-2.86%	1,799,082		122,417
2017 Private issuances	April 2021 - September 2021	1,214,597		1,600,000		1.85%-2.44%	1,550,015		83,298
2018 Private issuance	June 2022	628,895		650,002		2.42%	831,285		15,484
Privately issued amortizing notes		6,919,433		12,632,368			8,522,691		573,486
Total secured structured financings		$	22,862,607	$	50,617,240		$	29,433,122	$	2,203,224

(a)Securitizations executed under Rule 144A of the Securities Act are included within this balance.

(b)Secured structured financings may be collateralized by the Company's collateral overages of other issuances.



	December 31, 2017
	Estimated Maturity Date(s)	Balance		Initial Note Amounts Issued		Initial Weighted Average Interest Rate	Collateral		Restricted Cash
2013 Securitizations	January 2019 - March 2021	$	418,806	$	4,239,700	0.89%-1.59%	$	544,948	$	125,696
2014 Securitizations	February 2020 - April 2022	1,150,422		6,391,020		1.16%-1.72%	1,362,814		210,937
2015 Securitizations	September 2019 - January 2023	2,484,051		9,171,332		1.33%-2.29%	3,465,671		366,062
2016 Securitizations	April 2022 - March 2024	3,596,822		7,462,790		1.63%-2.80%	4,798,807		344,899
2017 Securitizations	April 2023 - September 2024	7,343,157		9,535,800		2.01%-2.52%	9,701,381		422,865
Public Securitizations		14,993,258		36,800,642			19,873,621		1,470,459
2011 Private issuance	September 2028	281,946		1,700,000		1.46%	398,051		20,356
2013 Private issuances	August 2021 - September 2024	2,292,279		2,044,054		1.28%-1.38%	3,719,148		155,066
2014 Private issuances	March 2018 - November 2021	117,730		1,538,087		1.05%-1.40%	231,997		9,552
2015 Private issuances	November 2018 - September 2021	2,009,627		2,305,062		0.88%-4.09%	988,247		55,451
2016 Private issuances	May 2020 - September 2024	1,489,464		3,050,000		1.55%-2.86%	2,147,988		89,460
2017 Private issuances	April 2021 - September 2021	1,373,591		1,641,079		1.85%-2.27%	1,747,227		47,415
Privately issued amortizing notes		7,564,637		12,278,282			9,232,658		377,300
Total secured structured financings		$	22,557,895	$	49,078,924		$	29,106,279	$	1,847,759

Variable Interest Entities (Tables)

3 Months Ended

Mar. 31, 2018

Variable Interest Entity Disclosure [Abstract]

Summary of Cash Flows Received from Consolidated Securitization Trusts

A summary of the cash flows received from consolidated securitization trusts during the three months ended March 31, 2018 and 2017, is as follows:



	Three Months Ended
	March 31, 2018		March 31, 2017
Assets securitized	$	7,240,944	$	7,646,625

Net proceeds from new securitizations (a)	$	3,476,322	$	5,576,801
Net proceeds from sale of retained bonds	211,610		115,970
Cash received for servicing fees (b)	215,790		208,923
Net distributions from Trusts (b)	545,152		678,229
Total cash received from Trusts	$	4,448,874	$	6,579,923


(a)	Includes additional advances on existing securitizations.


(b)	These amounts are not reflected in the accompanying condensed consolidated statements of cash flows because these cash flows are intra-company and eliminated in consolidation.

A summary of the cash flows received from off-balance sheet securitization trusts during the three months ended March 31, 2018 and 2017 is as follows:



	Three Months Ended
	March 31, 2018		March 31, 2017
Receivables securitized (a)	$	1,475,253	$	700,022

Net proceeds from new securitizations	$	1,474,820	$	702,319
Cash received for servicing fees	8,078		1,398
Total cash received from securitization trusts	$	1,482,898	$	703,717

(a) Represents the unpaid principal balance at the time of original securitization.

Off-balance Sheet Variable Interest Entities Portfolio

The portfolio was comprised as follows:



	March 31, 2018		December 31, 2017
SPAIN	$	3,176,238	$	2,024,016
Total serviced for related parties	3,176,238		2,024,016
Chrysler Capital securitizations	1,182,457		1,404,232
Total serviced for third parties	1,182,457		1,404,232
Total serviced for others portfolio	$	4,358,695	$	3,428,248

Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Underlying Notional Amounts and Aggregate Fair Values

The underlying notional amounts and aggregate fair values of these derivatives financial instruments at March 31, 2018 and December 31, 2017, are as follows:



	March 31, 2018
	Notional		Fair Value			Asset		Liability
Interest rate swap agreements designated as cash flow hedges	$	4,682,300	$	71,351		$	71,351	$	—
Interest rate swap agreements not designated as hedges	2,163,600		16,474			16,685		(211		)
Interest rate cap agreements	10,825,149		197,667			197,667		—
Options for interest rate cap agreements	10,825,149		(197,548		)	—		(197,548		)



	December 31, 2017
	Notional		Fair Value			Asset		Liability
Interest rate swap agreements designated as cash flow hedges	$	4,926,900	$	45,986		$	45,986	$	—
Interest rate swap agreements not designated as hedges	1,736,400		9,596			9,596		—
Interest rate cap agreements	10,906,081		103,721			135,830		(32,109		)
Options for interest rate cap agreements	10,906,081		(103,659		)	32,165		(135,824		)

Schedule of Offsetting Financial Assets



	Gross Amounts Not Offset in the Condensed Consolidated Balance Sheet
	Assets Presented in the Condensed Consolidated Balance Sheet		Cash Collateral Received (a)			Net Amount
March 31, 2018
Interest rate swaps - Santander and affiliates	$	—	$	—		$	—
Interest rate swaps - third party (b)	88,036		(61,617		)	26,419
Interest rate caps - Santander and affiliates	21,241		(12,240		)	9,001
Interest rate caps - third party	176,426		(64,993		)	111,433
Total derivatives subject to a master netting arrangement or similar arrangement	285,703		(138,850		)	146,853
Total derivatives not subject to a master netting arrangement or similar arrangement	—		—			—
Total derivative assets	$	285,703	$	(138,850	)	$	146,853
Total financial assets	$	285,703	$	(138,850	)	$	146,853

December 31, 2017
Interest rate swaps - Santander and affiliates	$	8,621	$	(3,461	)	$	5,160
Interest rate swaps - third party	46,961		(448		)	46,513
Interest rate caps - Santander and affiliates	18,201		(12,240		)	5,961
Interest rate caps - third party	149,794		(55,835		)	93,959
Total derivatives subject to a master netting arrangement or similar arrangement	223,577		(71,984		)	151,593
Total derivatives not subject to a master netting arrangement or similar arrangement	—		—			—
Total derivative assets	$	223,577	$	(71,984	)	$	151,593
Total financial assets	$	223,577	$	(71,984	)	$	151,593

(a) Cash collateral received is reported in Other liabilities or Due to affiliate, as applicable, in the consolidated balance sheet.

Schedule of Offsetting Financial Liabilities



	Gross Amounts Not Offset in the Condensed Consolidated Balance Sheet
	Liabilities Presented in the Condensed Consolidated Balance Sheet		Cash Collateral Pledged (a)			Net Amount
March 31, 2018
Interest rate swaps - third party	211		(211		)	—
Back to back - Santander & affiliates	21,241		(21,241		)	—
Back to back - third party	176,307		(176,307		)	—
Total derivatives subject to a master netting arrangement or similar arrangement	197,759		(197,759		)	—
Total derivatives not subject to a master netting arrangement or similar arrangement	—		—			—
Total derivative liabilities	$	197,759	$	(197,759	)	$	—
Total financial liabilities	$	197,759	$	(197,759	)	$	—

December 31, 2017
Back to back - Santander & affiliates	18,201		(18,201		)	—
Back to back - third party	149,732		(133,540		)	16,192
Total derivatives subject to a master netting arrangement or similar arrangement	167,933		(151,741		)	16,192
Total derivatives not subject to a master netting arrangement or similar arrangement	—		—			—
Total derivative liabilities	$	167,933	$	(151,741	)	$	16,192
Total financial liabilities	$	167,933	$	(151,741	)	$	16,192

(a) Cash collateral pledged is reported in Other assets or Due from affiliate, as applicable, in the consolidated balance sheet. In certain instances, the Company is over-collateralized since the actual amount of cash pledged as collateral exceeds the associated financial liability. As a result, the actual amount of cash collateral pledged that is reported in Other assets or Due from affiliates may be greater than the amount shown in the table above.

Gross Gains (Losses) Reclassified from Accumulated Other Comprehensive Income (Loss)

The impacts on the condensed consolidated statements of income and comprehensive income for the three months ended March 31, 2018 and 2017 were as follows:



	Three Months Ended March 31, 2018
	Recognized in Earnings			Gross Gains Recognized in Accumulated Other Comprehensive Income (Loss)		Gross amount Reclassified From Accumulated Other Comprehensive Income to Interest Expense
Interest rate swap agreements designated as cash flow hedges	$	—		$	26,429	$	4,578

Derivative instruments not designated as hedges:
Gains (losses) recognized in interest expenses	$	(9,717	)



	Three Months Ended March 31, 2017
	Recognized in Earnings			Gross Gains (Losses) Recognized in Accumulated Other Comprehensive Income (Loss)		Gross Gains (Losses) Reclassified From Accumulated Other Comprehensive Income to Interest Expense
Interest rate swap agreements designated as cash flow hedges	$	383		$	7,332	$	4,240

Derivative instruments not designated as hedges:
Gains (losses) recognized in interest expense	$	(1,204	)
Gains (losses) recognized in operating expenses	$	(505	)

Other Assets (Tables)

3 Months Ended

Mar. 31, 2018

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Schedule of Other Assets

Other assets were comprised as follows:



	March 31, 2018		December 31, 2017
Vehicles (a)	$	383,657	$	293,546
Manufacturer subvention payments receivable (b)	120,268		83,910
Upfront fee (b)	76,250		80,000
Derivative assets at fair value (c)	264,462		196,755
Derivative - third party collateral	187,226		149,805
Prepaids	37,702		40,830
Accounts receivable	26,799		38,583
Other	29,179		29,815
Other assets	$	1,125,543	$	913,244


(a)	Includes vehicles obtained through repossession as well as vehicles obtained due to lease terminations.


(b)	These amounts relate to the Chrysler Agreement. The Company paid a $150,000 upfront fee upon the May 2013 inception of the agreement. The fee is being amortized into finance and other interest income over a ten-year term. As the preferred financing provider for FCA, the Company is entitled to subvention payments on loans and leases with below-market customer payments.


(c)	Derivative assets at fair value represent the gross amount of derivatives presented in the condensed consolidated financial statements. Refer to Note 7 to these Condensed Consolidated Financial Statements for the detail of these amounts.

Commitments and Contingencies (Tables)

3 Months Ended

Mar. 31, 2018

Commitments and Contingencies Disclosure [Abstract]

Summary of Liabilities for Commitments and Contingencies

The following table summarizes liabilities recorded for commitments and contingencies as of March 31, 2018 and December 31, 2017, all of which are included in accounts payable and accrued expenses in the accompanying condensed consolidated balance sheets:



Agreement or Legal Matter	Commitment or Contingency	March 31, 2018		December 31, 2017
Chrysler Agreement	Revenue-sharing and gain-sharing payments	$	11,571	$	6,580
Agreement with Bank of America	Servicer performance fee	7,453		8,072
Agreement with CBP	Loss-sharing payments	5,506		5,625
Other Contingencies	Consumer arrangements	3,410		6,326
Legal and regulatory proceedings	Aggregate legal and regulatory liabilities	115,600		108,800

Schedule of Future Minimum Rental Payments for Operating Leases

The remaining obligations under lease commitments at March 31, 2018 are as follows:



Years ended December 31,
2018	$	9,462
2019	12,771
2020	13,032
2021	12,907
2022	12,282
Thereafter	44,663
Total	$	105,117

- Definition

Tabular disclosure of the loss contingencies that were reported in the period or disclosed as of the balance sheet date.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=82911808&loc=d3e14472-108349

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 460
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=82913245&loc=d3e12021-110248

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=82911808&loc=d3e14453-108349

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 460
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=82913245&loc=d3e12053-110248

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=82911808&loc=d3e14394-108349

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=82911808&loc=d3e14435-108349

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=82911808&loc=d3e14326-108349

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=82911808&loc=d3e14557-108349

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=82911808&loc=d3e14615-108349

+ Details

Related-Party Transactions (Tables)

3 Months Ended

Mar. 31, 2018

Schedule of Related Party Transactions

Interest expense, including unused fees, for affiliate lines/letters of credit for the three months ended March 31, 2018 and 2017, was as follows:



	Three Months Ended
	March 31, 2018		March 31, 2017
Line of credit agreement with Santander - New York Branch (Note 5)	$	4,367	$	22,976
Debt facilities with SHUSA (Note 5)	35,846		12,634

Accrued interest for affiliate lines/letters of credit at March 31, 2018 and December 31, 2017, was as follows:



	March 31, 2018		December 31, 2017
Line of credit agreement with Santander - New York Branch (Note 5)	$	563	$	1,435
Debt facilities with SHUSA (Note 5)	18,073		18,670

Other information on the serviced auto loan and retail installment contract portfolios for SBNA as of March 31, 2018 and December 31, 2017 is as follows:



	March 31, 2018		December 31, 2017
Total serviced portfolio	$	371,622	$	400,788
Cash collections due to owner	12,917		11,870
Servicing fees receivable	819		839

Other information on the serviced receivables for SBNA as of March 31, 2018 is as follows:



	March 31, 2018
Total serviced portfolio	$	112,900
Cash collections due to owner	291
Servicing fees receivable	96

Other information on the consumer vehicle lease portfolio serviced for SBNA as of March 31, 2018 and December 31, 2017 is as follows:



	March 31, 2018		December 31, 2017
Total serviced portfolio	$	97,274	$	321,629
Cash collections due to owner	—		—
Origination and servicing fees receivable	238		2,067
Revenue share reimbursement receivable	3,793		1,548

Computation of Basic and Diluted Earnings per Common Share (Tables)

3 Months Ended

Mar. 31, 2018

Earnings Per Share [Abstract]

Summary of Computation of Basic and Diluted Earnings per Common Share

The following table represents EPS numbers for the three months ended March 31, 2018 and 2017:



	Three Months Ended March 31,
	2018		2017
Earnings per common share
Net income	$	242,299	$	143,427
Weighted average number of common shares outstanding before restricted participating shares (in thousands)	360,703		358,939
Weighted average number of participating restricted common shares outstanding (in thousands)	—		166
Weighted average number of common shares outstanding (in thousands)	360,703		359,105
Earnings per common share	$	0.67	$	0.40
Earnings per common share - assuming dilution
Net income	$	242,299	$	143,427
Weighted average number of common shares outstanding (in thousands)	360,703		359,105
Effect of employee stock-based awards (in thousands)	914		1,511
Weighted average number of common shares outstanding - assuming dilution (in thousands)	361,617		360,616
Earnings per common share - assuming dilution	$	0.67	$	0.40

Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2018

Fair Value Disclosures [Abstract]

Summary of Fair Value Estimates, Methods and Assumptions

The following tables present the carrying value and estimated fair value of the Company’s financial assets and liabilities disclosed, but not carried, at fair value at March 31, 2018 and December 31, 2017, and the level within the fair value hierarchy:



	March 31, 2018
	Carrying Value		Estimated Fair Value		Level 1		Level 2		Level 3
Assets:
Cash and cash equivalents (a)	$	618,809	$	618,809	$	618,809	$	—	$	—
Finance receivables held for investment, net (b)	22,439,866		24,369,757		—		—		24,369,757
Restricted cash (a)	2,895,615		2,895,615		2,895,615		—		—
Total	$	25,954,290	$	27,884,181	$	3,514,424	$	—	$	24,369,757
Liabilities:
Notes payable — credit facilities (c)	$	5,294,358	$	5,294,358	$	—	$	—	$	5,294,358
Notes payable — secured structured financings (d)	22,862,607		22,932,974		—		13,657,638		9,275,336
Notes payable — related party (e)	3,148,194		3,148,194		—		—		3,148,194
Total	$	31,305,159	$	31,375,526	$	—	$	13,657,638	$	17,717,888



	December 31, 2017
	Carrying Value		Estimated Fair Value		Level 1		Level 2		Level 3
Assets:
Cash and cash equivalents (a)	$	527,805	$	527,805	$	527,805	$	—	$	—
Finance receivables held for investment, net (b)	22,284,068		24,340,739		—		—		24,340,739
Restricted cash (a)	2,553,902		2,553,902		2,553,902		—		—
Total	$	25,365,775	$	27,422,446	$	3,081,707	$	—	$	24,340,739
Liabilities:
Notes payable — credit facilities (c)	$	4,848,316	$	4,848,316	$	—	$	—	$	4,848,316
Notes payable — secured structured financings (d)	22,557,895		22,688,381		—		12,275,408		10,412,973
Notes payable — related party (e)	3,754,223		3,754,223		—		—		3,754,223
Total	$	31,160,434	$	31,290,920	$	—	$	12,275,408	$	19,015,512


(a)	Cash and cash equivalents and restricted cash — The carrying amount of cash and cash equivalents, including restricted cash, is at an approximated fair value as the instruments mature within 90 days or less and bear interest at market rates.


(b)	Finance receivables held for investment, net — Finance receivables held for investment, net are carried at amortized cost, net of an allowance. These receivables exclude retail installment contracts that are measured at fair value on a recurring and nonrecurring basis. The estimated fair value for the underlying financial instruments are determined as follows:


•	Retail installment contracts held for investment, net — The estimated fair value is calculated based on a DCF in which the Company uses significant unobservable inputs on key assumptions, including historical default rates and adjustments to reflect prepayment rates, expected recovery rates, discount rates reflective of the cost of funding, and credit loss expectations.

•

Receivables from dealers held for investment and Capital lease receivables, net — Receivables from dealers held for investment and capital lease receivables are carried at amortized cost, net of credit loss allowance and gross investments, net of unearned income and allowance for lease losses, respectively. Management believes that the terms of these credit agreements approximate market terms for similar credit agreements.


(c)	Notes payable — credit facilities — The carrying amount of notes payable related to revolving credit facilities is estimated to approximate fair value. Management believes that the terms of these credit agreements approximate market terms for similar credit agreements as the facilities are subject to short-term floating interest rates that approximate rates available to the Company.

(d)

Notes payable — secured structured financings — The estimated fair value of notes payable related to secured structured financings is calculated based on market observable prices and spreads for the Company's publicly traded debt and market observed prices of similar notes issued by the Company, or recent market transactions involving similar debt with similar credit risks, which are considered level 2 inputs. The estimated fair value of notes payable related to privately issued amortizing notes is calculated based on a combination of discounted cash flow analysis and market observable spreads for similar liabilities in which the Company uses significant unobservable inputs on key assumptions, including historical default rates and adjustments to reflect prepayment rates, discount rates reflective of the cost of funding, and credit loss expectations, which are considered level 3 inputs.


(e)	Notes payable — related party — The carrying amount of notes payable to a related party is estimated to approximate fair value as the facilities are subject to short-term floating interest rates that approximate rates available to the Company.

Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following tables present the Company’s assets and liabilities that are measured at fair value on a recurring basis at March 31, 2018 and December 31, 2017, and the level within the fair value hierarchy:



	Fair Value Measurements at March 31, 2018
	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Other assets — trading interest rate caps (a)	$	176,426	$	—	$	176,426	$	—
Due from affiliates — trading interest rate caps (a)	21,241		—		21,241		—
Other assets — cash flow hedging interest rate swaps (a)	71,351		—		71,351		—
Other assets — trading interest rate swaps (a)	16,685		—		16,685		—
Other liabilities — trading options for interest rate caps (a)	176,307		—		176,307		—
Due to affiliates — trading options for interest rate caps (a)	21,241		—		21,241		—
Other liabilities — trading interest rate swaps (a)	211		—		211		—
Retail installment contracts acquired individually (b)	18,850		—		—		18,850



	Fair Value Measurements at December 31, 2017
	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Other assets — trading interest rate caps (a)	$	129,718	$	—	$	129,718	$	—
Due from affiliates — trading interest rate caps (a)	6,112		—		6,112		—
Other assets — cash flow hedging interest rate swaps (a)	39,036		—		39,036		—
Due from affiliates — cash flow hedging interest rate swaps (a)	6,950		—		6,950		—
Other assets — trading interest rate swaps (a)	7,925		—		7,925		—
Due from affiliates — trading interest rate swaps (a)	1,671		—		1,671		—
Other assets — trading options for interest rate caps (a)	20,075		—		20,075		—
Due from affiliates — trading options for interest rate caps (a)	12,090		—		12,090		—
Other liabilities — trading options for interest rate caps (a)	129,712		—		129,712		—
Due to affiliates — trading options for interest rate caps (a)	6,112		—		6,112		—
Other liabilities — trading interest rate caps (a)	20,019		—		20,019		—
Due to affiliates — trading interest rate caps (a)	12,090		—		12,090		—
Retail installment contracts acquired individually (b)	22,124		—		—		22,124

(a)

The valuation is determined using widely accepted valuation techniques including a DCF on the expected cash flows of each derivative. This analysis reflects the contractual terms of the derivative, including the period to maturity, and uses observable market-based inputs. The Company incorporates credit valuation adjustments to appropriately reflect both its own nonperformance risk and the respective counterparty’s nonperformance risk in the fair value measurement of its derivatives. In adjusting the fair value of its derivative contracts for the effect of nonperformance risk, the Company has considered the impact of netting and any applicable credit enhancements, such as collateral postings and guarantees. The Company utilizes the exception in ASC 820-10-35-18D (commonly referred to as the “portfolio exception”) with respect to measuring counterparty credit risk for instruments (Note 7).

(b)

For certain retail installment contracts reported in finance receivables held for investment, net, the Company has elected the fair value option. The fair values of the retail installment contracts are estimated using a DCF model. When estimating the fair value using this model, the Company uses significant unobservable inputs on key assumptions, which includes historical default rates and adjustments to reflect prepayment rates based on available data from a comparable market securitization of similar assets, discount rates reflective of the cost of funding of debt issuance and recent historical equity yields, and recovery rates based on the average severity utilizing reported severity rates and loss severity utilizing available market data from a comparable securitized pool. Accordingly, retail installment contracts held for investment are classified as Level 3. Changes in the fair value are recorded in investment gains (losses), net in the condensed consolidated statement of income.

Changes in Level 3 Balances, Assets

The following table presents the changes in retail installment contracts held for investment balances classified as Level 3 balances for the three months ended March 31, 2018 and 2017:



	Three Months Ended March 31,
	2018			2017
Balance — beginning of period	$	22,124		$	24,495
Additions / issuances	1,349			13,331
Net collection activities	(5,594		)	(10,113		)
Loans sold	—			—
Transfers to held for sale	—			(12		)
Gains recognized in earnings	971			2,951
Balance — end of period	$	18,850		$	30,652

Change in Level 3 Balances, Liabilities

The following table presents the changes in the total return settlement balance, which was classified as Level 3, for the three months ended March 31, 2017:



Balance — beginning of period	$	30,618
(Gains)/losses recognized in earnings	505
Settlements	—
Balance — end of period	$	31,123

Assets and Liabilities Measured at Fair Value on Nonrecurring Basis

The following table presents the Company’s assets and liabilities that are measured at fair value on a nonrecurring basis at March 31, 2018 and December 31, 2017, and are categorized using the fair value hierarchy:



	Fair Value Measurements at March 31, 2018
	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Lower of cost or fair value expense for the three months ended March 31, 2018
Other assets — vehicles (a)	$	383,657	$	—	$	383,657	$	—	$	—
Personal loans held for sale (b)	967,789		—		—		967,789		58,963
Retail installment contracts held for sale (c)	643,746		—		—		643,746		11,536
Auto loans impaired due to bankruptcy (d)	128,641		—		128,641				82,145



	Fair Value Measurements at December 31, 2017
	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Lower of cost or fair value expense for the year ended December 31, 2017
Other assets — vehicles (a)	$	293,546	$	—	$	293,546	$	—	$	—
Personal loans held for sale (b)	1,062,089		—		—		1,062,089		374,374
Retail installment contracts held for sale (c)	1,148,332		—		—		1,148,332		11,686
Auto loans impaired due to bankruptcy (d)	$	121,578	—		$	121,578	—		75,194

(a) The Company estimates the fair value of its vehicles, which are obtained either through repossession or lease termination, using historical auction rates and current market levels of used car prices.

(b) Represents the portion of the portfolio specifically impaired as of period-end. The estimated fair value for personal loans held for sale is calculated based on the lower of market participant view and a DCF analysis in which the Company uses significant unobservable inputs on key assumptions, including historical default rates and adjustments to reflect prepayment rates, discount rates reflective of the cost of funding, and credit loss expectations. The lower of cost or fair value adjustment for personal loans held for sale includes customer default activity and adjustments related to the net change in the portfolio balance during the reporting period.

(c) At March 31, 2018, as the SPAIN ABS platform matures with several market executions over the last few quarters, the fair value of the retail installments contracts held for sale reserved for future SPAIN transactions are estimated based on contractual pricing methodology used for previous SPAIN transactions. This pricing methodology includes consideration of significant unobservable inputs including investor return expectations (i.e., Yield), expected lifetime cumulative net loss and weighted average life of the retail installment contracts. At December 31, 2017, the estimated fair value was calculated based on a DCF analysis in which the Company used significant unobservable inputs on key assumptions, including expected default rates, prepayment rates, recovery rates, and discount rates reflective of the cost of funds and appropriate rate of returns. The change in methodology did not have a material impact on the fair value of the retail installments contacts held for sale.

(d) For loans that are considered collateral-dependent, such as certain bankruptcy loans, impairment is measured based on the fair value of the collateral, less its estimated cost to sell. For the underlying collateral, the estimated fair value is obtained using historical auction rates and current market levels of used car prices.

Quantitative Information About Significant Unobservable Inputs for Assets Measured at Fair Value

The following table presents quantitative information about the significant unobservable inputs for assets and liabilities measured at fair value on a recurring and nonrecurring basis at March 31, 2018 and December 31, 2017:



Financial Instruments	Fair Value at March 31, 2018		Valuation Technique	Unobservable Inputs	Range
Financial Assets:
Retail installment contracts held for investment	$	18,850	Discounted Cash Flow	Discount Rate	8%-10%
				Default Rate	15%-20%
				Prepayment Rate	6%-8%
				Loss Severity Rate	50%-60%
Personal loans held for sale	$	967,789	Lower of Market or Income Approach	Market Approach
				Market Participant View	70%-80%
				Income Approach
				Discount Rate	15%-20%

				Default Rate	30%-40%
				Net Principal Payment Rate	50%-70%
				Loss Severity Rate	90%-95%
Retail installment contracts held for sale	$	643,746	Income Approach	Expected Yield	1%-2%
				Expected Lifetime Cumulative Net Loss	4%-6%
				Weighted Average Life	2 - 3 years



Financial Instruments	Fair Value at December 31, 2017		Valuation Technique	Unobservable Inputs	Range
Financial Assets:
Retail installment contracts held for investment	$	22,124	Discounted Cash Flow	Discount Rate	8%-10%
				Default Rate	15%-20%
				Prepayment Rate	6%-8%
				Loss Severity Rate	50%-60%
Personal loans held for sale	$	1,062,089	Lower of Market or Income Approach	Market Approach
				Market Participant View	70%-80%
				Income Approach
				Discount Rate	15%-20%

				Default Rate	30%-40%
				Net Principal Payment Rate	50%-70%
				Loss Severity Rate	90%-95%
Retail installment contracts held for sale	$	1,148,332	Discounted Cash Flow	Discount Rate	3%-6%
				Default Rate	3%-4%
				Prepayment Rate	15%-20%
				Loss Severity Rate	50%-60%

Quantitative Information About Significant Unobservable Inputs for Liabilities Measured at Fair Value

The following table presents quantitative information about the significant unobservable inputs for assets and liabilities measured at fair value on a recurring and nonrecurring basis at March 31, 2018 and December 31, 2017:



Financial Instruments	Fair Value at March 31, 2018		Valuation Technique	Unobservable Inputs	Range
Financial Assets:
Retail installment contracts held for investment	$	18,850	Discounted Cash Flow	Discount Rate	8%-10%
				Default Rate	15%-20%
				Prepayment Rate	6%-8%
				Loss Severity Rate	50%-60%
Personal loans held for sale	$	967,789	Lower of Market or Income Approach	Market Approach
				Market Participant View	70%-80%
				Income Approach
				Discount Rate	15%-20%

				Default Rate	30%-40%
				Net Principal Payment Rate	50%-70%
				Loss Severity Rate	90%-95%
Retail installment contracts held for sale	$	643,746	Income Approach	Expected Yield	1%-2%
				Expected Lifetime Cumulative Net Loss	4%-6%
				Weighted Average Life	2 - 3 years



Financial Instruments	Fair Value at December 31, 2017		Valuation Technique	Unobservable Inputs	Range
Financial Assets:
Retail installment contracts held for investment	$	22,124	Discounted Cash Flow	Discount Rate	8%-10%
				Default Rate	15%-20%
				Prepayment Rate	6%-8%
				Loss Severity Rate	50%-60%
Personal loans held for sale	$	1,062,089	Lower of Market or Income Approach	Market Approach
				Market Participant View	70%-80%
				Income Approach
				Discount Rate	15%-20%

				Default Rate	30%-40%
				Net Principal Payment Rate	50%-70%
				Loss Severity Rate	90%-95%
Retail installment contracts held for sale	$	1,148,332	Discounted Cash Flow	Discount Rate	3%-6%
				Default Rate	3%-4%
				Prepayment Rate	15%-20%
				Loss Severity Rate	50%-60%

Employee Benefit Plans (Tables)

3 Months Ended

Mar. 31, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Summary of Stock Options and Related Activity

A summary of the Company’s stock options and related activity as of and for the three months ended March 31, 2018 is as follows:



	Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value
Options outstanding at January 1, 2018	1,695,008		$	12.39	4.7	$	12,058
Granted	—		—		—	—
Exercised	(205,306	)	9.48		—	1,553
Expired	(4,200	)	22.72		—	—
Forfeited	(64,268	)	23.72		—	—
Options outstanding at March 31, 2018	1,421,234		12.26		3.8	7,546
Options exercisable at March 31, 2018	1,279,659		$	11.37	3.5	$	7,465

Schedule of Nonvested Restricted Stock Units and Performance Stock Units Activity

A summary of the Company’s Restricted Stock Units and Performance stock units and related activity as of and for the three months ended March 31, 2018 is as follows:



	Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value
Outstanding as of January 1, 2018	$	650,252		$	12.68	1.0	$	12,108
Granted	519,772			16.12		—	—
Vested	(377,233		)	14.53		—	6,107
Forfeited/canceled	(13,909		)	12.81		—	—
Unvested as of March 31, 2018	778882			14.09		1.5	12696

Shareholders' Equity (Tables)

3 Months Ended

Mar. 31, 2018

Equity [Abstract]

Summary of Changes in Accumulated Other Comprehensive Income (Loss)

A summary of changes in accumulated other comprehensive income (loss), net of tax, for the three months ended March 31, 2018 and 2017 is as follows:



	Three Months Ended
	March 31, 2018			March 31, 2017
Beginning balance, unrealized gains (losses) on cash flow hedges	$	44,262		$	28,259
Other comprehensive income (loss) before reclassifications (gross) (a)	22,919			9,900
Amounts (gross) reclassified out of accumulated other comprehensive income (loss)	(3,970		)	(2,655		)
Ending balance, unrealized gains (losses) on cash flow hedges	$	63,211		$	35,504

(a) Includes impact of accumulated other comprehensive income reclassified to Retained earnings, primarily comprised of $6,149 as a result of the adoption of ASU 2018-02. Refer to Note 1 for further discussion.

Reclassification of Amounts Out of Accumulated Other Comprehensive Income (Loss)

Amounts (gross) reclassified out of accumulated other comprehensive income (loss) during the three months ended March 31, 2018 and 2017 consist of the following:



	Three Months Ended March 31, 2018				Three Months Ended March 31, 2017
Reclassification	Amount reclassified			Income statement line item	Amount reclassified			Income statement line item

Cash flow hedges	$	(4,578	)	Interest expense	$	(4,240	)	Interest expense
Tax expense (benefit)	608				1,585
Net of tax	$	(3,970	)		$	(2,655	)

Investment Losses, Net (Tables)

3 Months Ended

Mar. 31, 2018

Investments, Debt and Equity Securities [Abstract]

Schedule of Investment Losses, Net

Investment gains (losses), net was comprised of the following for the three months ended March 31, 2018 and 2017:



	Three Months Ended
	March 31, 2018			March 31, 2017
Gain (loss) on sale of loans and leases	$	(16,696	)	$	(10,882	)
Lower of cost or market adjustments	(70,499		)	(66,121		)
Other gains, losses and impairments, net	675			604
	$	(86,520	)	$	(76,399	)

- Definition

Tabular disclosure of the realized and unrealized gains and losses reported in the statement of income which have resulted from the sale and holding of marketable securities, respectively, as well as the sale or disposal of cost method investments. Such amounts would include realized gains and losses on the sale or disposal of trading, available-for-sale, and held-to-maturity securities, unrealized gains and losses on trading securities, unrealized gains and losses on available-for-sale and held-to-maturity securities transferred to the trading securities category, realized gains and losses on the sale or disposal of cost method investments, and losses recognized for other than temporary impairments (OTTI) of such investments.

+ References + Details

Description of Business, Basis of Presentation, and Significant Accounting Policies and Practices (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2018 USD ($) segment	Mar. 31, 2017 USD ($)
Basis Of Presentation And Significant Accounting Policies [Line Items]
Number of reportable segments \| segment	1
Stranded income tax effects reclassified from AOCI to retained earnings	$ 0	$ 26,552
Retained Earnings
Basis Of Presentation And Significant Accounting Policies [Line Items]
Stranded income tax effects reclassified from AOCI to retained earnings	(6,149)	$ 25,113
Accumulated Other Comprehensive Income
Basis Of Presentation And Significant Accounting Policies [Line Items]
Stranded income tax effects reclassified from AOCI to retained earnings	$ 6,149
SHUSA
Basis Of Presentation And Significant Accounting Policies [Line Items]
Ownership percentage held in the Company	68.00%
Public Shareholders
Basis Of Presentation And Significant Accounting Policies [Line Items]
Ownership percentage held in the Company	32.00%
FCA
Basis Of Presentation And Significant Accounting Policies [Line Items]
Financing contract term	10 years

Finance Receivables - Summary of Financing Receivables Held for Investment (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Purchased receivables	$ 25,345	$ 27,839
Capital lease receivables	16,149	17,339
Finance receivables held for investment, net	22,587,358	22,427,769
Purchased receivables portfolios acquired with deteriorated credit quality:
Outstanding balance	39,361	43,474
Outstanding recorded investment, net of impairment	25,534	28,069
Recurring
Accounts, Notes, Loans and Financing Receivable [Line Items]
Retail installment contracts acquired individually	18,850	22,124
Retail Installment Contracts Acquired Individually
Accounts, Notes, Loans and Financing Receivable [Line Items]
Finance receivables held for investment, net	22,526,948	22,362,509
Retail Installment Contracts Acquired Individually \| Non-TDR
Accounts, Notes, Loans and Financing Receivable [Line Items]
Finance receivables held for investment, net	18,182,261	17,901,026
Retail Installment Contracts Acquired Individually \| Non-TDR \| Unpaid principal balance
Accounts, Notes, Loans and Financing Receivable [Line Items]
Finance receivables held for investment, net	19,987,763	19,681,394
Retail Installment Contracts Acquired Individually \| Non-TDR \| Credit loss allowance - specific
Accounts, Notes, Loans and Financing Receivable [Line Items]
Finance receivables held for investment, net	0	0
Retail Installment Contracts Acquired Individually \| Non-TDR \| Credit loss allowance - collective
Accounts, Notes, Loans and Financing Receivable [Line Items]
Finance receivables held for investment, net	(1,586,557)	(1,529,815)
Retail Installment Contracts Acquired Individually \| Non-TDR \| Discount
Accounts, Notes, Loans and Financing Receivable [Line Items]
Finance receivables held for investment, net	(281,345)	(309,191)
Retail Installment Contracts Acquired Individually \| Non-TDR \| Capitalized origination costs and fees
Accounts, Notes, Loans and Financing Receivable [Line Items]
Finance receivables held for investment, net	62,400	58,638
Retail Installment Contracts Acquired Individually \| TDR
Accounts, Notes, Loans and Financing Receivable [Line Items]
Finance receivables held for investment, net	4,344,687	4,461,483
Retail Installment Contracts Acquired Individually \| TDR \| Unpaid principal balance
Accounts, Notes, Loans and Financing Receivable [Line Items]
Finance receivables held for investment, net	5,998,768	6,261,894
Retail Installment Contracts Acquired Individually \| TDR \| Credit loss allowance - specific
Accounts, Notes, Loans and Financing Receivable [Line Items]
Finance receivables held for investment, net	(1,595,465)	(1,731,320)
Retail Installment Contracts Acquired Individually \| TDR \| Credit loss allowance - collective
Accounts, Notes, Loans and Financing Receivable [Line Items]
Finance receivables held for investment, net	0	0
Retail Installment Contracts Acquired Individually \| TDR \| Discount
Accounts, Notes, Loans and Financing Receivable [Line Items]
Finance receivables held for investment, net	(64,034)	(74,832)
Retail Installment Contracts Acquired Individually \| TDR \| Capitalized origination costs and fees
Accounts, Notes, Loans and Financing Receivable [Line Items]
Finance receivables held for investment, net	5,418	5,741
Receivables from Dealers
Accounts, Notes, Loans and Financing Receivable [Line Items]
Finance receivables held for investment, net	15,334	15,623
Receivables from Dealers \| Unpaid principal balance
Accounts, Notes, Loans and Financing Receivable [Line Items]
Finance receivables held for investment, net	15,495	15,787
Receivables from Dealers \| Credit loss allowance - specific
Accounts, Notes, Loans and Financing Receivable [Line Items]
Finance receivables held for investment, net	0	0
Receivables from Dealers \| Credit loss allowance - collective
Accounts, Notes, Loans and Financing Receivable [Line Items]
Finance receivables held for investment, net	(161)	(164)
Receivables from Dealers \| Discount
Accounts, Notes, Loans and Financing Receivable [Line Items]
Finance receivables held for investment, net	0	0
Receivables from Dealers \| Capitalized origination costs and fees
Accounts, Notes, Loans and Financing Receivable [Line Items]
Finance receivables held for investment, net	0	0
Personal Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Finance receivables held for investment, net	3,582	4,459
Personal Loans \| Unpaid principal balance
Accounts, Notes, Loans and Financing Receivable [Line Items]
Finance receivables held for investment, net	5,158	6,887
Personal Loans \| Credit loss allowance - specific
Accounts, Notes, Loans and Financing Receivable [Line Items]
Finance receivables held for investment, net	0
Personal Loans \| Credit loss allowance - collective
Accounts, Notes, Loans and Financing Receivable [Line Items]
Finance receivables held for investment, net	(1,714)	(2,565)
Personal Loans \| Discount
Accounts, Notes, Loans and Financing Receivable [Line Items]
Finance receivables held for investment, net	0	(1)
Personal Loans \| Capitalized origination costs and fees
Accounts, Notes, Loans and Financing Receivable [Line Items]
Finance receivables held for investment, net	$ 138	$ 138

Finance Receivables - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Schedule Of Financing Receivables [Line Items]
Purchases of portfolios of finance receivables held for investment	$ 43,177	$ 152,208
Loans classified as non-performing, period for classification	60 days
Texas
Schedule Of Financing Receivables [Line Items]
Retail installment contracts held for investment (as a percent)	16.00%
Florida
Schedule Of Financing Receivables [Line Items]
Retail installment contracts held for investment (as a percent)	12.00%
California
Schedule Of Financing Receivables [Line Items]
Retail installment contracts held for investment (as a percent)	9.00%
Georgia
Schedule Of Financing Receivables [Line Items]
Retail installment contracts held for investment (as a percent)	6.00%
Other States (less than 5%)
Schedule Of Financing Receivables [Line Items]
Retail installment contracts held for investment (as a percent)	5.00%
Virginia
Schedule Of Financing Receivables [Line Items]
Percentage of remaining receivable from dealers held for investment	62.00%
New York
Schedule Of Financing Receivables [Line Items]
Percentage of remaining receivable from dealers held for investment	27.00%
Missouri
Schedule Of Financing Receivables [Line Items]
Percentage of remaining receivable from dealers held for investment	10.00%
Wisconsin
Schedule Of Financing Receivables [Line Items]
Percentage of remaining receivable from dealers held for investment	1.00%
Retail Installment Contracts
Schedule Of Financing Receivables [Line Items]
Loans classified as non-performing, period for classification	60 days
Retail Installment Contracts \| Unpaid Principal Balance
Schedule Of Financing Receivables [Line Items]
Financing receivables recognized in period	$ 42,996	152,208
Consumer Portfolio Segment \| Personal Loans
Schedule Of Financing Receivables [Line Items]
Financing receivable, net	3,582		$ 4,459
Chrysler Capital Loans
Schedule Of Financing Receivables [Line Items]
Purchases of portfolios of finance receivables held for investment	1,962,180	$ 1,588,506
Chrysler Capital Loans \| Retail Installment Contracts \| Automobile Loan
Schedule Of Financing Receivables [Line Items]
Financing receivable, net	$ 7,045,671		8,234,653
Chrysler Capital Loans \| Credit Concentration Risk \| Accounts Receivable
Schedule Of Financing Receivables [Line Items]
Concentration risk percentage	46.00%	42.00%
Chrysler Capital Leases \| Credit Concentration Risk \| Accounts Receivable \| Automobile Loan
Schedule Of Financing Receivables [Line Items]
Concentration risk percentage	31.00%	37.00%
Fleet Contracts
Schedule Of Financing Receivables [Line Items]
Financing receivable, net	$ 579,578		$ 641,003

Finance Receivables - Changes in Accretable Yield on Purchased Receivables Portfolios (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward]
Balance — beginning of period	$ 19,464	$ 107,041
Accretion of accretable yield	(2,840)	(11,144)
Disposals/transfers	0	0
Reclassifications from (to) nonaccretable difference	1,822	2,049
Balance — end of period	$ 18,446	$ 97,946

Finance Receivables - Schedule of Carrying Values of Finance Receivables Held for Sale (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Finance receivables held for sale, net	$ 1,611,535	$ 2,210,421
Retail installment contracts acquired individually
Accounts, Notes, Loans and Financing Receivable [Line Items]
Finance receivables held for sale, net	643,746	1,148,332
Personal loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Finance receivables held for sale, net	$ 967,789	$ 1,062,089

Finance Receivables - Schedule of Sales of Retail Installment Contracts and Charged-off Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Receivables [Abstract]
Sales of retail installment contracts to third parties	$ 0	$ 230,568
Sales of retail installment contracts to affiliates	1,475,253	700,022
Proceeds from sales of charged-off assets to third parties	$ 18,237	$ 21,343

Finance Receivables - Schedule of Servicing of Retail Installment Contracts (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Receivables [Abstract]
Serviced balance of retail installment contracts and leases sold to third parties	$ 4,965,059	$ 5,771,085

Leases - Summary of Leased Vehicles (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Leases [Abstract]
Leased vehicles	$ 14,660,698	$ 14,285,769
Less: accumulated depreciation	(3,007,858)	(3,110,167)
Depreciated net capitalized cost	11,652,840	11,175,602
Manufacturer subvention payments, net of accretion	(1,076,716)	(1,042,477)
Origination fees and other costs	36,700	27,202
Net book value	$ 10,612,824	$ 10,160,327

Leases - Future Minimum Rental Payments Due to Lessor under Operating Leases (Details) $ in Thousands	Mar. 31, 2018 USD ($)
Leases [Abstract]
Remainder of 2018	$ 1,376,726
2019	1,309,509
2020	634,099
2021	49,097
2022	153
Thereafter	0
Total	$ 3,369,584

Leases - Summary of Capital Lease Receivables (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Leases [Abstract]
Gross investment in capital leases	$ 25,992	$ 27,234
Origination fees and other	155	124
Less unearned income	(4,241)	(4,377)
Net investment in capital leases before allowance	21,906	22,981
Less: allowance for lease losses	(5,757)	(5,642)
Net investment in capital leases	$ 16,149	$ 17,339

Leases - Future Minimum Rental Receivable under Capital Leases (Details) $ in Thousands	Mar. 31, 2018 USD ($)
Leases [Abstract]
Remainder of 2018	$ 7,809
2019	7,046
2020	5,004
2021	3,322
2022	2,752
Thereafter	59
Total	$ 25,992

Credit Loss Allowance and Credit Quality - Activity in Loan Loss Allowance (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Retail Installment Contracts Acquired Individually
Allowance for Loan and Lease Losses [Roll Forward]
Balance — beginning of period	$ 3,261,135	$ 3,411,055
Provision for credit losses	458,679	629,097
Charge-offs	(1,199,021)	(1,224,697)
Recoveries	661,229	625,764
Balance — end of period	3,182,022	3,441,219
Write-down of loans for which a bankruptcy notice was received	7,000	24,000
Receivables from Dealers
Allowance for Loan and Lease Losses [Roll Forward]
Balance — beginning of period	164	724
Provision for credit losses	(3)	10
Charge-offs	0	0
Recoveries	0	0
Balance — end of period	161	734
Personal Loans
Allowance for Loan and Lease Losses [Roll Forward]
Balance — beginning of period	2,565	0
Provision for credit losses	(102)	7,975
Charge-offs	(1,068)	(3,632)
Recoveries	319	174
Balance — end of period	1,714	4,517
Finance Leases Portfolio Segment
Allowance for Loan and Lease Losses [Roll Forward]
Balance — beginning of period	5,642	9,988
Provision for credit losses	421	(2,069)
Charge-offs	(1,381)	(3,679)
Recoveries	1,075	2,365
Balance — end of period	$ 5,757	$ 6,605

Credit Loss Allowance and Credit Quality - Delinquencies, Narrative (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2016	Dec. 31, 2017
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivable, nonperforming loans, period for classification	60 days
Chrysler Capital Securitization
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loan origination, required minimum payment, percentage of scheduled payment		90.00%
Third Party
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loan origination, required minimum payment, percentage of scheduled payment	90.00%	50.00%
Receivables From Dealers
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivable, nonperforming loans, period for classification	90 days
Financing receivable, recorded investment, past due	$ 0		$ 0
Personal loans \| Consumer Portfolio Segment \| Unfunded Loan Commitment \| Unpaid Principal Balance
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivable, recorded investment, 90 days past due and still accruing	108,022,000		130,034,000
Retail installment contracts held for sale
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing receivable, recorded investment, past due	$ 1,244,000		$ 1,701,000

Credit Loss Allowance and Credit Quality - Summary of Delinquencies (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Financing Receivable, Recorded Investment, Past Due [Line Items]
Principal, 30-59 days past due	$ 2,238,425	$ 2,827,678
Delinquent principal over 59 days	1,089,648	1,544,583
Total delinquent principal	3,328,073	4,372,261
Loans Acquired Individually
Financing Receivable, Recorded Investment, Past Due [Line Items]
Principal, 30-59 days past due	2,234,126	2,822,686
Delinquent principal over 59 days	1,087,491	1,541,728
Total delinquent principal	3,321,617	4,364,414
Purchased Receivables Portfolios
Financing Receivable, Recorded Investment, Past Due [Line Items]
Principal, 30-59 days past due	4,299	4,992
Delinquent principal over 59 days	2,157	2,855
Total delinquent principal	$ 6,456	$ 7,847

Credit Loss Allowance and Credit Quality - Credit Risk Profile (Details) - Retail Installment Contracts Held for Investment	Mar. 31, 2018	Dec. 31, 2017
Commercial Portfolio Segment
Financing Receivable Recorded Investment [Line Items]
Financing receivable, net, percentage	2.20%	2.50%
Consumer Portfolio Segment \| No-FICOs
Financing Receivable Recorded Investment [Line Items]
Financing receivable, net, percentage	11.20%	11.20%
Consumer Portfolio Segment \| FICO Band Less Than 540
Financing Receivable Recorded Investment [Line Items]
Financing receivable, net, percentage	21.60%	21.80%
Consumer Portfolio Segment \| FICO Band 540-599
Financing Receivable Recorded Investment [Line Items]
Financing receivable, net, percentage	32.40%	32.00%
Consumer Portfolio Segment \| FICO Band 600-639
Financing Receivable Recorded Investment [Line Items]
Financing receivable, net, percentage	17.60%	17.40%
Consumer Portfolio Segment \| FICO Band Greater Than 640
Financing Receivable Recorded Investment [Line Items]
Financing receivable, net, percentage	15.00%	15.10%

Credit Loss Allowance and Credit Quality - Commercial Loan Credit Quality Indicators (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Fleet Contracts
Financing Receivable Recorded Investment [Line Items]
Financing receivable, net	$ 579,578	$ 641,003
Fleet Contracts \| Total (Unpaid principal balance)
Financing Receivable Recorded Investment [Line Items]
Financing receivable, net	16,566	18,315
Fleet Contracts \| Pass
Financing Receivable Recorded Investment [Line Items]
Financing receivable, net	11,154	12,276
Fleet Contracts \| Special Mention
Financing Receivable Recorded Investment [Line Items]
Financing receivable, net	4,812	5,324
Fleet Contracts \| Substandard
Financing Receivable Recorded Investment [Line Items]
Financing receivable, net	600	715
Fleet Contracts \| Doubtful
Financing Receivable Recorded Investment [Line Items]
Financing receivable, net	0	0
Fleet Contracts \| Loss
Financing Receivable Recorded Investment [Line Items]
Financing receivable, net	0	0
Receivables From Dealers \| Total (Unpaid principal balance)
Financing Receivable Recorded Investment [Line Items]
Financing receivable, net	15,495	15,787
Receivables From Dealers \| Pass
Financing Receivable Recorded Investment [Line Items]
Financing receivable, net	13,910	14,130
Receivables From Dealers \| Special Mention
Financing Receivable Recorded Investment [Line Items]
Financing receivable, net	1,585	1,657
Receivables From Dealers \| Substandard
Financing Receivable Recorded Investment [Line Items]
Financing receivable, net	0	0
Receivables From Dealers \| Doubtful
Financing Receivable Recorded Investment [Line Items]
Financing receivable, net	0	0
Receivables From Dealers \| Loss
Financing Receivable Recorded Investment [Line Items]
Financing receivable, net	$ 0	$ 0

Credit Loss Allowance and Credit Quality - Troubled Debt Restructurings, Narrative (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Financing Receivable, Modifications [Line Items]
Loans classified as TDRs that were placed on nonaccrual status	$ 942,890,000	$ 790,461,000
Interest received applied on TDRs on nonaccrual status	99,860,000	56,740,000
TDR
Financing Receivable, Modifications [Line Items]
Nonaccrual status loans	1,346,148,000	1,390,373,000
TDR \| TDRs Less Than 60 Days Past Due
Financing Receivable, Modifications [Line Items]
Loans classified as TDRs that were placed on nonaccrual status	$ 832,066,000	652,679,000
Retail Installment Contracts Acquired Individually
Financing Receivable, Modifications [Line Items]
TDRs, deferral period (or more)	90 days
Receivables From Dealers
Financing Receivable, Modifications [Line Items]
Total TDR principal	$ 0	$ 0

Credit Loss Allowance and Credit Quality - Summary of TDRs (Details) - Retail Installment Contracts - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Financing Receivable, Modifications [Line Items]
Outstanding recorded investment	$ 5,978,182	$ 6,261,432
Impairment	(1,595,465)	(1,731,320)
Outstanding recorded investment, net of impairment	4,382,717	4,530,112
Collateral Dependent
Financing Receivable, Modifications [Line Items]
Outstanding recorded investment	68,100	64,700
TDR write down	$ 31,100	$ 29,200

Credit Loss Allowance and Credit Quality - Delinquent TDRs (Details) - Retail Installment Contracts - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Troubled Debt Restructuring Debtor Current Period [Line Items]
Principal, 30-59 days past due	$ 1,097,661	$ 1,332,239
Delinquent principal over 59 days	576,396	818,938
Total delinquent TDR principal	$ 1,674,057	$ 2,151,177

Credit Loss Allowance and Credit Quality - Nonaccrual Status (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
TDR
Financing Receivable, Modifications [Line Items]
Total nonaccrual principal	$ 1,346,148	$ 1,390,373
Retail Installment Contracts Acquired Individually, Held for Investment
Financing Receivable, Modifications [Line Items]
Total nonaccrual principal	$ 1,816,822	$ 2,057,299
Percent	7.00%	7.90%
Retail Installment Contracts Acquired Individually, Held for Investment \| Non-TDR
Financing Receivable, Modifications [Line Items]
Total nonaccrual principal	$ 470,674	$ 666,926
Percent	1.80%	2.60%
Retail Installment Contracts Acquired Individually, Held for Investment \| TDR
Financing Receivable, Modifications [Line Items]
Total nonaccrual principal		$ 1,390,373
Percent	5.20%	5.40%

Credit Loss Allowance and Credit Quality - Average Recorded Investment and Income Recognized on TDR Loans (Details) - Retail Installment Contracts - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Financing Receivable, Modifications [Line Items]
Average outstanding recorded investment in TDRs	$ 6,078,203	$ 5,711,412
Interest income recognized	$ 241,211	$ 260,352

Credit Loss Allowance and Credit Quality - Financial Effects of TDRs (Details) - Retail Installment Contracts $ in Thousands	3 Months Ended
	Mar. 31, 2018 USD ($) contract	Mar. 31, 2017 USD ($) contract
Financing Receivable, Modifications [Line Items]
Outstanding recorded investment before TDR	$ 584,448	$ 881,699
Outstanding recorded investment after TDR	$ 582,664	$ 866,278
Number of contracts \| contract	34,374	49,499

Credit Loss Allowance and Credit Quality - Defaults in Loan Modifications Accounted for as TDRs (Details) - Retail Installment Contracts $ in Thousands	3 Months Ended
	Mar. 31, 2018 USD ($) contract	Mar. 31, 2017 USD ($) contract
Financing Receivable, Modifications [Line Items]
Recorded investment in TDRs that subsequently defaulted \| $	$ 195,265	$ 211,697
Number of contracts \| contract	11,540	11,894

Debt - Schedule of Credit Facilities (Details) - USD ($)	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Line of Credit Facility [Line Items]
Utilized Balance	$ 5,294,358,000	$ 4,848,316,000
Committed Amount	3,000,000,000
Unsecured Debt
Line of Credit Facility [Line Items]
Utilized Balance	3,000,000,000	3,000,000,000
Total revolving credit facilities
Line of Credit Facility [Line Items]
Utilized Balance	8,438,558,000	8,598,316,000
Committed Amount	18,409,625,000	18,444,483,000
Assets Pledged	7,678,198,000	6,703,767,000
Restricted Cash Pledged	190,357,000	132,024,000
Total facilities with third parties
Line of Credit Facility [Line Items]
Utilized Balance	5,294,358,000	4,848,316,000
Committed Amount	10,659,625,000	10,694,483,000
Assets Pledged	7,521,806,000	6,703,767,000
Restricted Cash Pledged	$ 187,981,000	132,024,000
Total facilities with third parties \| Securitized Notes Payable Retained by the Company
Line of Credit Facility [Line Items]
Debt term	1 year
Warehouse line, due August 2019
Line of Credit Facility [Line Items]
Utilized Balance	$ 229,984,000	2,044,843,000
Committed Amount	$ 500,000,000	$ 3,900,000,000
Effective Rate	3.74%	2.96%
Assets Pledged	$ 348,645,000	$ 2,929,890,000
Restricted Cash Pledged	19,915,000	53,639,000
Warehouse line, due Various
Line of Credit Facility [Line Items]
Utilized Balance	603,145,000	339,145,000
Committed Amount	$ 1,250,000,000	$ 1,250,000,000
Effective Rate	2.71%	2.53%
Assets Pledged	$ 865,991,000	$ 461,353,000
Restricted Cash Pledged	24,063,000	12,645,000
Warehouse line, due August 2019
Line of Credit Facility [Line Items]
Utilized Balance	2,105,843,000
Committed Amount	$ 3,900,000,000
Effective Rate	3.42%
Assets Pledged	$ 3,108,422,000
Restricted Cash Pledged	68,631,000
Warehouse line due December 2018
Line of Credit Facility [Line Items]
Utilized Balance	0	0
Committed Amount	$ 300,000,000	$ 300,000,000
Effective Rate	0.00%	1.49%
Assets Pledged	$ 0	$ 0
Restricted Cash Pledged	0	0
Warehouse line due October 2019
Line of Credit Facility [Line Items]
Utilized Balance	611,477,000	226,577,000
Committed Amount	$ 1,800,000,000	$ 1,800,000,000
Effective Rate	3.43%	4.95%
Assets Pledged	$ 839,499,000	$ 311,336,000
Restricted Cash Pledged	14,727,000	6,772,000
Repurchase facility, due on Various
Line of Credit Facility [Line Items]
Utilized Balance	291,949,000	325,775,000
Committed Amount	$ 291,949,000	$ 325,775,000
Effective Rate	3.49%	3.24%
Assets Pledged	$ 407,299,000	$ 474,188,000
Restricted Cash Pledged	12,962,000	13,842,000
Repurchase facility, due April 2018
Line of Credit Facility [Line Items]
Utilized Balance	196,727,000	202,311,000
Committed Amount	$ 196,727,000	$ 202,311,000
Effective Rate	3.06%	2.67%
Assets Pledged	$ 257,054,000	$ 264,120,000
Restricted Cash Pledged	0	0
Repurchase facility, due June 2018
Line of Credit Facility [Line Items]
Utilized Balance	153,177,000
Committed Amount	$ 153,177,000
Effective Rate	3.80%
Assets Pledged	$ 222,108,000
Restricted Cash Pledged	0
Repurchase facility, due December 2018
Line of Credit Facility [Line Items]
Utilized Balance	67,772,000
Committed Amount	$ 67,772,000
Effective Rate	3.55%
Assets Pledged	$ 156,202,000
Restricted Cash Pledged	0
Warehouse line, due November 2019
Line of Credit Facility [Line Items]
Utilized Balance	297,699,000	403,999,000
Committed Amount	$ 1,000,000,000	$ 1,000,000,000
Effective Rate	3.63%	2.66%
Assets Pledged	$ 420,623,000	$ 546,782,000
Restricted Cash Pledged	11,557,000	14,729,000
Warehouse line, due October 2019
Line of Credit Facility [Line Items]
Utilized Balance	148,565,000	81,865,000
Committed Amount	$ 400,000,000	$ 400,000,000
Effective Rate	3.65%	4.09%
Assets Pledged	$ 206,287,000	$ 114,021,000
Restricted Cash Pledged	4,070,000	3,057,000
Warehouse line, due November 2019
Line of Credit Facility [Line Items]
Utilized Balance	358,220,000	435,220,000
Committed Amount	$ 500,000,000	$ 500,000,000
Effective Rate	2.06%	1.92%
Assets Pledged	$ 421,622,000	$ 521,365,000
Restricted Cash Pledged	21,337,000	16,866,000
Warehouse line, due October 2018
Line of Credit Facility [Line Items]
Utilized Balance	229,800,000	235,700,000
Committed Amount	$ 300,000,000	$ 300,000,000
Effective Rate	3.37%	2.84%
Assets Pledged	$ 268,054,000	$ 289,634,000
Restricted Cash Pledged	10,719,000	10,474,000
Warehouse line, due January 2018
Line of Credit Facility [Line Items]
Utilized Balance		336,484,000
Committed Amount		$ 500,000,000
Effective Rate		2.87%
Assets Pledged		$ 473,208,000
Restricted Cash Pledged		0
Repurchase facility, due March 2018
Line of Credit Facility [Line Items]
Utilized Balance		147,500,000
Committed Amount		$ 147,500,000
Effective Rate		3.91%
Assets Pledged		$ 222,108,000
Restricted Cash Pledged		0
Repurchase facility, due March 2018
Line of Credit Facility [Line Items]
Utilized Balance		68,897,000
Committed Amount		$ 68,897,000
Effective Rate		3.04%
Assets Pledged		$ 95,762,000
Restricted Cash Pledged		0
Total facilities with Santander and related subsidiaries
Line of Credit Facility [Line Items]
Utilized Balance	3,144,200,000	3,750,000,000
Committed Amount	7,750,000,000	7,750,000,000
Assets Pledged	156,392,000	0
Restricted Cash Pledged	2,376,000	0
Line of credit, due December 2018
Line of Credit Facility [Line Items]
Utilized Balance	30,000,000	0
Committed Amount	$ 1,000,000,000	$ 1,000,000,000
Effective Rate	3.09%	3.09%
Assets Pledged	$ 30,000,000	$ 0
Restricted Cash Pledged	0	0
Promissory Note, due December 2021
Line of Credit Facility [Line Items]
Utilized Balance	250,000,000	250,000,000
Committed Amount	$ 250,000,000	$ 250,000,000
Effective Rate	3.70%	3.70%
Assets Pledged	$ 0	$ 0
Restricted Cash Pledged	0	0
Promissory Note, due December 2022
Line of Credit Facility [Line Items]
Utilized Balance	250,000,000	250,000,000
Committed Amount	$ 250,000,000	$ 250,000,000
Effective Rate	3.95%	3.95%
Assets Pledged	$ 0	$ 0
Restricted Cash Pledged	0	0
Promissory Note, due March 2019
Line of Credit Facility [Line Items]
Utilized Balance	300,000,000	300,000,000
Committed Amount	$ 300,000,000	$ 300,000,000
Effective Rate	3.38%	2.67%
Assets Pledged	$ 0	$ 0
Restricted Cash Pledged	0	0
Promissory Note, due October 2020
Line of Credit Facility [Line Items]
Utilized Balance	400,000,000	400,000,000
Committed Amount	$ 400,000,000	$ 400,000,000
Effective Rate	3.10%	3.10%
Assets Pledged	$ 0	$ 0
Restricted Cash Pledged	0	0
Promissory Note, due May 2020
Line of Credit Facility [Line Items]
Utilized Balance	500,000,000	500,000,000
Committed Amount	$ 500,000,000	$ 500,000,000
Effective Rate	3.49%	3.49%
Assets Pledged	$ 0	$ 0
Restricted Cash Pledged	0	0
Promissory Note, due March 2022
Line of Credit Facility [Line Items]
Utilized Balance	650,000,000	650,000,000
Committed Amount	$ 650,000,000	$ 650,000,000
Effective Rate	4.20%	4.20%
Assets Pledged	$ 0	$ 0
Restricted Cash Pledged	0	0
Fair value hedge adjustment	3,994,000	4,223,000
Promissory Note, due August 2021
Line of Credit Facility [Line Items]
Utilized Balance	650,000,000	650,000,000
Committed Amount	$ 650,000,000	$ 650,000,000
Effective Rate	3.44%	3.44%
Assets Pledged	$ 0	$ 0
Restricted Cash Pledged	0	0
Line of credit, due December 2018
Line of Credit Facility [Line Items]
Utilized Balance	114,200,000	750,000,000
Committed Amount	$ 750,000,000	$ 750,000,000
Effective Rate	4.34%	1.33%
Assets Pledged	$ 126,392,000	$ 0
Restricted Cash Pledged	2,376,000	0
Line of credit, due March 2019
Line of Credit Facility [Line Items]
Utilized Balance	0	0
Committed Amount	$ 3,000,000,000	$ 3,000,000,000
Effective Rate	3.94%	3.94%
Assets Pledged	$ 0	$ 0
Restricted Cash Pledged	$ 0	$ 0

Debt - Lines of Credit (Details)	Mar. 31, 2018 USD ($)
Line of Credit Facility [Line Items]
Committed amount	$ 3,000,000,000
Total facilities with Santander and related subsidiaries
Line of Credit Facility [Line Items]
Committed amount	1,750,000,000
Total facilities with Santander and related subsidiaries \| Retained residuals
Line of Credit Facility [Line Items]
Committed amount	1,000,000,000
Total facilities with Santander and related subsidiaries \| Prime retail installment loans
Line of Credit Facility [Line Items]
Committed amount	$ 750,000,000

Debt - Promissory Notes (Details) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Committed amount	$ 3,000,000,000
Total facilities with Santander and related subsidiaries
Debt Instrument [Line Items]
Committed amount	1,750,000,000
Revolving credit facilities
Debt Instrument [Line Items]
Committed amount	18,409,625,000	$ 18,444,483,000
Secured debt \| Revolving credit facilities \| Total facilities with Santander and related subsidiaries
Debt Instrument [Line Items]
Committed amount	$ 3,000,000,000

Debt - Summary of Secured Structured Financings (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Balance	$ 22,862,607	$ 22,557,895
Secured Structured Financings
Debt Instrument [Line Items]
Balance	22,862,607	22,557,895
Initial Note Amounts Issued	50,617,240	49,078,924
Collateral	29,433,122	29,106,279
Restricted Cash	2,203,224	1,847,759
Secured Structured Financings \| Public securitizations
Debt Instrument [Line Items]
Balance	15,943,174	14,993,258
Initial Note Amounts Issued	37,984,872	36,800,642
Collateral	20,910,431	19,873,621
Restricted Cash	1,629,738	1,470,459
Secured Structured Financings \| 2013 Securitization
Debt Instrument [Line Items]
Balance	159,041	418,806
Initial Note Amounts Issued	$ 2,260,930	4,239,700
Initial Weighted Average Interest Rate	1.24%
Collateral	$ 183,756	544,948
Restricted Cash	46,212	$ 125,696
Secured Structured Financings \| 2013 Securitization \| Minimum
Debt Instrument [Line Items]
Initial Weighted Average Interest Rate		0.92%
Secured Structured Financings \| 2013 Securitization \| Maximum
Debt Instrument [Line Items]
Initial Weighted Average Interest Rate		1.23%
Secured Structured Financings \| 2014 Securitizations
Debt Instrument [Line Items]
Balance	982,601	$ 1,150,422
Initial Note Amounts Issued	6,391,020	6,391,020
Collateral	1,163,941	1,362,814
Restricted Cash	$ 218,420	$ 210,937
Secured Structured Financings \| 2014 Securitizations \| Minimum
Debt Instrument [Line Items]
Initial Weighted Average Interest Rate	1.16%	0.89%
Secured Structured Financings \| 2014 Securitizations \| Maximum
Debt Instrument [Line Items]
Initial Weighted Average Interest Rate	1.72%	1.59%
Secured Structured Financings \| 2015 Securitizations
Debt Instrument [Line Items]
Balance	$ 2,132,438	$ 2,484,051
Initial Note Amounts Issued	9,158,532	9,171,332
Collateral	3,019,846	3,465,671
Restricted Cash	$ 378,911	$ 366,062
Secured Structured Financings \| 2015 Securitizations \| Minimum
Debt Instrument [Line Items]
Initial Weighted Average Interest Rate	1.33%	1.16%
Secured Structured Financings \| 2015 Securitizations \| Maximum
Debt Instrument [Line Items]
Initial Weighted Average Interest Rate	2.29%	1.72%
Secured Structured Financings \| 2016 Securitizations
Debt Instrument [Line Items]
Balance	$ 3,153,267	$ 3,596,822
Initial Note Amounts Issued	7,462,790	7,462,790
Collateral	4,221,844	4,798,807
Restricted Cash	$ 366,250	$ 344,899
Secured Structured Financings \| 2016 Securitizations \| Minimum
Debt Instrument [Line Items]
Initial Weighted Average Interest Rate	1.63%	1.33%
Secured Structured Financings \| 2016 Securitizations \| Maximum
Debt Instrument [Line Items]
Initial Weighted Average Interest Rate	2.80%	2.29%
Secured Structured Financings \| 2017 Securitizations
Debt Instrument [Line Items]
Balance	$ 6,433,289	$ 7,343,157
Initial Note Amounts Issued	9,296,570	9,535,800
Collateral	8,691,397	9,701,381
Restricted Cash	$ 487,993	$ 422,865
Secured Structured Financings \| 2017 Securitizations \| Minimum
Debt Instrument [Line Items]
Initial Weighted Average Interest Rate	1.35%	1.63%
Secured Structured Financings \| 2017 Securitizations \| Maximum
Debt Instrument [Line Items]
Initial Weighted Average Interest Rate	2.52%	2.46%
Secured Structured Financings \| 2018 Securitizations
Debt Instrument [Line Items]
Balance	$ 3,082,538
Initial Note Amounts Issued	3,415,030
Collateral	3,629,647
Restricted Cash	$ 131,952
Secured Structured Financings \| 2018 Securitizations \| Minimum
Debt Instrument [Line Items]
Initial Weighted Average Interest Rate	2.41%
Secured Structured Financings \| 2018 Securitizations \| Maximum
Debt Instrument [Line Items]
Initial Weighted Average Interest Rate	2.77%
Secured Structured Financings \| Privately issued amortizing notes
Debt Instrument [Line Items]
Balance	$ 6,919,433	$ 7,564,637
Initial Note Amounts Issued	12,632,368	12,278,282
Collateral	8,522,691	9,232,658
Restricted Cash	573,486	377,300
Secured Structured Financings \| 2011 Private issuance
Debt Instrument [Line Items]
Balance	213,510	281,946
Initial Note Amounts Issued	$ 1,700,000	$ 1,700,000
Initial Weighted Average Interest Rate	1.46%	1.46%
Collateral	$ 332,325	$ 398,051
Restricted Cash	21,100	20,356
Secured Structured Financings \| 2013 Private issuances
Debt Instrument [Line Items]
Balance	1,848,474	2,292,279
Initial Note Amounts Issued	2,044,054	2,044,054
Collateral	3,118,953	3,719,148
Restricted Cash	$ 221,752	$ 155,066
Secured Structured Financings \| 2013 Private issuances \| Minimum
Debt Instrument [Line Items]
Initial Weighted Average Interest Rate	1.28%	1.28%
Secured Structured Financings \| 2013 Private issuances \| Maximum
Debt Instrument [Line Items]
Initial Weighted Average Interest Rate	1.38%	1.38%
Secured Structured Financings \| 2014 Private issuances
Debt Instrument [Line Items]
Balance	$ 74,908	$ 117,730
Initial Note Amounts Issued	$ 1,530,125	1,538,087
Initial Weighted Average Interest Rate	1.10%
Collateral	$ 157,838	231,997
Restricted Cash	8,355	$ 9,552
Secured Structured Financings \| 2014 Private issuances \| Minimum
Debt Instrument [Line Items]
Initial Weighted Average Interest Rate		1.05%
Secured Structured Financings \| 2014 Private issuances \| Maximum
Debt Instrument [Line Items]
Initial Weighted Average Interest Rate		1.40%
Secured Structured Financings \| 2015 Private issuances
Debt Instrument [Line Items]
Balance	1,723,235	$ 2,009,627
Initial Note Amounts Issued	2,058,187	2,305,062
Collateral	733,193	988,247
Restricted Cash	$ 101,080	$ 55,451
Secured Structured Financings \| 2015 Private issuances \| Minimum
Debt Instrument [Line Items]
Initial Weighted Average Interest Rate	0.88%	0.88%
Secured Structured Financings \| 2015 Private issuances \| Maximum
Debt Instrument [Line Items]
Initial Weighted Average Interest Rate	2.80%	4.09%
Secured Structured Financings \| 2016 Private issuances
Debt Instrument [Line Items]
Balance	$ 1,215,814	$ 1,489,464
Initial Note Amounts Issued	3,050,000	3,050,000
Collateral	1,799,082	2,147,988
Restricted Cash	$ 122,417	$ 89,460
Secured Structured Financings \| 2016 Private issuances \| Minimum
Debt Instrument [Line Items]
Initial Weighted Average Interest Rate	1.55%	1.55%
Secured Structured Financings \| 2016 Private issuances \| Maximum
Debt Instrument [Line Items]
Initial Weighted Average Interest Rate	2.86%	2.86%
Secured Structured Financings \| 2017 Private issuances
Debt Instrument [Line Items]
Balance	$ 1,214,597	$ 1,373,591
Initial Note Amounts Issued	1,600,000	1,641,079
Collateral	1,550,015	1,747,227
Restricted Cash	$ 83,298	$ 47,415
Secured Structured Financings \| 2017 Private issuances \| Minimum
Debt Instrument [Line Items]
Initial Weighted Average Interest Rate	1.85%	1.85%
Secured Structured Financings \| 2017 Private issuances \| Maximum
Debt Instrument [Line Items]
Initial Weighted Average Interest Rate	2.44%	2.27%
Secured Structured Financings \| 2018 Private issuance
Debt Instrument [Line Items]
Balance	$ 628,895
Initial Note Amounts Issued	$ 650,002
Initial Weighted Average Interest Rate	2.42%
Collateral	$ 831,285
Restricted Cash	$ 15,484

Debt - Secured Structured Financings, Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Debt Disclosure [Abstract]
Private issuance notes secured with vehicle lease	$ 4,604,923		$ 3,710,377
Amortized debt issuance costs	7,920	$ 8,729
Interest expense on secured structured financing	$ 150,675	$ 124,065

Variable Interest Entities - Additional Information (Details) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Securitization Financial Asset For Which Transfer Is Accounted As Sale [Line Items]
Gross retail installment contracts transferred and serviced	$ 25,500,802,000		$ 26,250,482,000
Receivables securitized	7,240,944,000	$ 7,646,625,000
VIE, Not Primary Beneficiary
Securitization Financial Asset For Which Transfer Is Accounted As Sale [Line Items]
Gross retail installment contracts transferred and serviced	4,358,695,000		$ 3,428,248,000
Receivables securitized	1,475,253,000	700,022,000
Loss on retail installment contracts	16,903,000	$ 2,719,000
Maximum exposure to loss, involvement with the VIE	$ 0

Variable Interest Entities - Summary of Cash Flows Received from Securitization Trusts (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Variable Interest Entity [Line Items]
Assets securitized	$ 7,240,944	$ 7,646,625
Net proceeds from new securitizations	3,476,322	5,576,801
Net proceeds from sale of retained bonds	211,610	115,970
Cash received for servicing fees	215,790	208,923
Net distributions from Trusts	545,152	678,229
Total cash received from Trusts	4,448,874	6,579,923
VIE, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Assets securitized	1,475,253	700,022
Net proceeds from new securitizations	1,474,820	702,319
Cash received for servicing fees	8,078	1,398
Total cash received from Trusts	$ 1,482,898	$ 703,717

Variable Interest Entities - Off-balance Sheet Variable Interest Entities Portfolio (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Variable Interest Entity [Line Items]
Total serviced for others portfolio	$ 25,500,802	$ 26,250,482
VIE, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Total serviced for others portfolio	4,358,695	3,428,248
VIE, Not Primary Beneficiary \| Chrysler Capital securitizations
Variable Interest Entity [Line Items]
Total serviced for others portfolio	1,182,457	1,404,232
VIE, Not Primary Beneficiary \| Third parties
Variable Interest Entity [Line Items]
Total serviced for others portfolio	1,182,457	1,404,232
VIE, Not Primary Beneficiary \| Santander
Variable Interest Entity [Line Items]
Total serviced for others portfolio	$ 3,176,238	$ 2,024,016

Derivative Financial Instruments - Additional Information (Details) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Estimated unrealized gains to be reclassified from AOCI to interest expense in next 12 months	$ 34,698,000
Warrant
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Estimated fair value of warrant	$ 0	$ 0

Derivative Financial Instruments - Summary of Underlying Notional Amounts and Aggregate Fair Values (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Derivative [Line Items]
Asset	$ 285,703	$ 223,577
Liability	(197,759)	(167,933)
Interest rate swaps \| Not Designated As Hedges
Derivative [Line Items]
Notional	2,163,600	1,736,400
Fair Value	16,474	9,596
Asset	16,685	9,596
Liability	(211)	0
Interest rate swaps \| Cash Flow Hedging \| Designated as Hedges
Derivative [Line Items]
Notional	4,682,300	4,926,900
Fair Value	71,351	45,986
Asset	71,351	45,986
Liability	0	0
Interest rate cap agreements
Derivative [Line Items]
Notional	10,825,149	10,906,081
Fair Value	197,667	103,721
Asset	197,667	135,830
Liability	0	(32,109)
Options for interest rate cap agreements
Derivative [Line Items]
Notional	10,825,149	10,906,081
Fair Value	(197,548)	(103,659)
Asset	0	32,165
Liability	$ (197,548)	$ (135,824)

Derivative Financial Instruments - Offsetting of Derivative Assets and Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Offsetting of Financial Assets
Assets Presented in the Condensed Consolidated Balance Sheet, Total derivatives subject to a master netting arrangement or similar arrangement	$ 285,703	$ 223,577
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheet, Cash Collateral Received, Total derivative assets	(138,850)	(71,984)
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheet, Net Amount, Total derivatives subject to a master netting arrangement or similar arrangement	146,853	151,593
Total derivatives not subject to a master netting arrangement or similar arrangement	0	0
Assets Presented in the Condensed Consolidated Balance Sheet, Total derivative assets	285,703	223,577
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheet, Net Amount, Total derivative assets	146,853	151,593
Assets Presented in the Condensed Consolidated Balance Sheet, Total financial assets	285,703	223,577
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheet, Cash Collateral Received, Total financial assets	(138,850)	(71,984)
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheet, Net Amount, Total financial assets	146,853	151,593
Offsetting of Financial Liabilities
Liabilities Presented in the Condensed Consolidated Balance Sheet, Total derivatives subject to a master netting arrangement or similar arrangement	197,759	167,933
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheet, Cash Collateral Received, Total derivative liabilities	(197,759)	(151,741)
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheet, Net Amount, Total derivatives subject to a master netting arrangement or similar arrangement	0	16,192
Total derivatives not subject to a master netting arrangement or similar arrangement	0	0
Liabilities Presented in the Condensed Consolidated Balance Sheet, Total derivative liabilities	197,759	167,933
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheet, Net Amount, Total derivative liabilities	0	16,192
Liabilities Presented in the Condensed Consolidated Balance Sheet, Total financial liabilities	197,759	167,933
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheet, Cash Collateral Pledged, Total financial liabilities	(197,759)	(151,741)
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheet, Net Amount, Total financial liabilities	0	16,192
Interest rate swaps \| Santander and Affiliates
Offsetting of Financial Assets
Assets Presented in the Condensed Consolidated Balance Sheet, Total derivatives subject to a master netting arrangement or similar arrangement	0	8,621
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheet, Cash Collateral Received, Total derivative assets	0	(3,461)
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheet, Net Amount, Total derivatives subject to a master netting arrangement or similar arrangement	0	5,160
Interest rate swaps \| Third Party
Offsetting of Financial Assets
Assets Presented in the Condensed Consolidated Balance Sheet, Total derivatives subject to a master netting arrangement or similar arrangement	88,036	46,961
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheet, Cash Collateral Received, Total derivative assets	(61,617)	(448)
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheet, Net Amount, Total derivatives subject to a master netting arrangement or similar arrangement	26,419	46,513
Offsetting of Financial Liabilities
Liabilities Presented in the Condensed Consolidated Balance Sheet, Total derivatives subject to a master netting arrangement or similar arrangement	211
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheet, Cash Collateral Received, Total derivative liabilities	(211)
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheet, Net Amount, Total derivatives subject to a master netting arrangement or similar arrangement	0
Interest rate caps
Offsetting of Financial Assets
Assets Presented in the Condensed Consolidated Balance Sheet, Total derivative assets	197,667	135,830
Offsetting of Financial Liabilities
Liabilities Presented in the Condensed Consolidated Balance Sheet, Total derivative liabilities	0	32,109
Interest rate caps \| Santander and Affiliates
Offsetting of Financial Assets
Assets Presented in the Condensed Consolidated Balance Sheet, Total derivatives subject to a master netting arrangement or similar arrangement	21,241	18,201
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheet, Cash Collateral Received, Total derivative assets	(12,240)	(12,240)
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheet, Net Amount, Total derivatives subject to a master netting arrangement or similar arrangement	9,001	5,961
Interest rate caps \| Third Party
Offsetting of Financial Assets
Assets Presented in the Condensed Consolidated Balance Sheet, Total derivatives subject to a master netting arrangement or similar arrangement	176,426	149,794
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheet, Cash Collateral Received, Total derivative assets	(64,993)	(55,835)
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheet, Net Amount, Total derivatives subject to a master netting arrangement or similar arrangement	111,433	93,959
Back to back \| Santander and Affiliates
Offsetting of Financial Liabilities
Liabilities Presented in the Condensed Consolidated Balance Sheet, Total derivatives subject to a master netting arrangement or similar arrangement	21,241	18,201
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheet, Cash Collateral Received, Total derivative liabilities	(21,241)	(18,201)
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheet, Net Amount, Total derivatives subject to a master netting arrangement or similar arrangement	0	0
Back to back \| Third Party
Offsetting of Financial Liabilities
Liabilities Presented in the Condensed Consolidated Balance Sheet, Total derivatives subject to a master netting arrangement or similar arrangement	176,307	149,732
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheet, Cash Collateral Received, Total derivative liabilities	(176,307)	(133,540)
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheet, Net Amount, Total derivatives subject to a master netting arrangement or similar arrangement	$ 0	$ 16,192

Derivative Financial Instruments - Gross Gains (Losses) Reclassified from Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Designated as Hedges \| Interest Rate Swaps \| Cash Flow Hedging
Derivative Instruments Gain Loss [Line Items]
Recognized in Earnings	$ 0	$ 383
Gross Gains Recognized in Accumulated Other Comprehensive Income (Loss)	26,429	7,332
Gross amount Reclassified From Accumulated Other Comprehensive Income to Interest Expense	4,578	4,240
Not Designated As Hedges \| Interest Expense
Derivative Instruments Gain Loss [Line Items]
Recognized in Earnings		(1,204)
Not Designated As Hedges \| Operating Expense
Derivative Instruments Gain Loss [Line Items]
Recognized in Earnings	$ (9,717)	$ (505)

Other Assets (Details) - USD ($) $ in Thousands	1 Months Ended
Other Assets (Details) - USD ($) $ in Thousands	May 31, 2013	Mar. 31, 2018	Dec. 31, 2017
Other Assets [Line Items]
Other assets		$ 1,125,543	$ 913,244
Upfront fee	$ 150,000
Finance and other interest income amortization period	10 years
Vehicles
Other Assets [Line Items]
Other assets		383,657	293,546
Manufacturer subvention payments receivable
Other Assets [Line Items]
Other assets		120,268	83,910
Upfront fee
Other Assets [Line Items]
Other assets		76,250	80,000
Derivative assets at fair value
Other Assets [Line Items]
Other assets		264,462	196,755
Derivative - third party collateral
Other Assets [Line Items]
Other assets		187,226	149,805
Prepaids
Other Assets [Line Items]
Other assets		37,702	40,830
Accounts receivable
Other Assets [Line Items]
Other assets		26,799	38,583
Other
Other Assets [Line Items]
Other assets		$ 29,179	$ 29,815

Income Taxes (Details) - USD ($)	3 Months Ended
Income Taxes (Details) - USD ($)	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Income tax expense	$ 57,311,000	$ 78,001,000
Effective tax rate	19.10%	35.20%
Earnings that are considered indefinitely reinvested	$ 0		$ 0
Stranded income tax effects reclassified from AOCI to retained earnings	0	$ 26,552,000
Operating Loss Carryforwards [Line Items]
Related party taxes receivable	634,000		467,000
Retained Earnings
Income Tax Disclosure [Abstract]
Stranded income tax effects reclassified from AOCI to retained earnings	(6,149,000)	$ 25,113,000
Accumulated Other Comprehensive Income
Income Tax Disclosure [Abstract]
Stranded income tax effects reclassified from AOCI to retained earnings	6,149,000
Tax Sharing Agreement
Operating Loss Carryforwards [Line Items]
Related party taxes receivable	$ 634,000		$ 467,000

Commitments and Contingencies - Liabilities for Commitments and Contingencies (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Consumer arrangements
Loss Contingencies [Line Items]
Contingencies	$ 3,410	$ 6,326
Legal and regulatory proceedings
Loss Contingencies [Line Items]
Contingencies	115,600	108,800
Revenue-sharing and gain-sharing payments \| Chrysler
Loss Contingencies [Line Items]
Commitments	11,571	6,580
Servicer performance fee \| Bank of America
Loss Contingencies [Line Items]
Commitments	7,453	8,072
Loss-sharing payments \| CBP
Loss Contingencies [Line Items]
Commitments	$ 5,506	$ 5,625

Commitments and Contingencies - Chrysler Agreement (Details) - Chrysler - USD ($)	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Other Commitments [Line Items]
Funding available for FCA retail financing	$ 4,500,000,000
Meeting specified escalating penetration rates, period	5 years
Minimum
Other Commitments [Line Items]
Funding available for dealer inventory financing	$ 5,000,000,000.0
Revenue-sharing and gain-sharing payments
Other Commitments [Line Items]
Amount accrued for the payments	$ 11,571,000	$ 6,580,000

Commitments and Contingencies - Agreement with Bank of America (Details) - Bank of America - USD ($)	Jan. 31, 2017	Mar. 31, 2018	Dec. 31, 2017
Other Commitments [Line Items]
Commitment to sell loans	$ 300,000,000
Servicer performance payments due, period	6 years
Servicer performance fee
Other Commitments [Line Items]
Commitments		$ 7,453,000	$ 8,072,000

Commitments and Contingencies - Agreement with CBP (Details) - CBP - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Other Commitments [Line Items]
Loans servicing, loss-sharing payment percentage	0.50%
Loss-sharing payments
Other Commitments [Line Items]
Commitments	$ 5,506	$ 5,625

Commitments and Contingencies - Other Contingencies (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Consumer arrangements
Other Commitments [Line Items]
Accrual for miscellaneous contingencies	$ 3,410	$ 6,326

Commitments and Contingencies - Legal and Regulatory Proceedings (Details) $ in Thousands		1 Months Ended
	Jan. 03, 2018 claim	Feb. 28, 2015 USD ($)	Mar. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)
Parmelee Lawsuit
Loss Contingencies [Line Items]
Number of claims dismissed \| claim	2
Violation of SCRA
Loss Contingencies [Line Items]
SCRA compliance monitoring period		5 years
Aggregate Legal and Regulatory Liabilities
Loss Contingencies [Line Items]
Contingencies			$ 115,600	$ 108,800
Maximum possible loss			$ 207,000
Civil Fine \| Violation of SCRA
Loss Contingencies [Line Items]
Civil fine, amount		$ 55
Civil Fine to Affected Service Members \| Violation of SCRA \| Minimum
Loss Contingencies [Line Items]
Civil fine, amount		9,360
Lost Equity for Each Repossession by SCUSA \| Violation of SCRA
Loss Contingencies [Line Items]
Civil fine, amount		10
SCUSA Sought to Collect Repossession-related Fees \| Violation of SCRA
Loss Contingencies [Line Items]
Civil fine, amount		$ 5

Commitments and Contingencies - Agreements (Details) - USD ($)	1 Months Ended	3 Months Ended		12 Months Ended
	Nov. 30, 2015	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017	Dec. 31, 2015	Dec. 31, 2016	May 09, 2015	Jun. 30, 2014
Other Commitments [Line Items]
Purchase obligation		$ 10,345,000		$ 11,539,000
Purchase commitment, repurchase rate (up to)					9.99%
Retainer rate (up to) upon exercise of repurchase right					20.00%
Servicing fees adjustment		0	$ 0
Repurchase requests outstanding		0
Commitment to sell charged off loan receivables in bankruptcy sale	$ 350,000,000
Sales subject to market price check	$ 275,000,000
Remaining aggregate commitment to sell charged off loan receivables		87,998,000		98,858,000
SBNA
Other Commitments [Line Items]
Indemnification of leases							$ 48,226,000
Credit loss indemnification of leases		18,000		18,000				$ 48,226,000
Indemnification liability		1,481,000		2,206,000
Bluestem \| Purchase New Advances on Personal Revolving Finance Receivable
Other Commitments [Line Items]
Commitments		3,700,000,000		3,900,000,000		$ 4,000,000,000
Purchases of receivables		300,000,000		1,200,000,000
Bluestem \| Purchase of Receivables Related to New Opened Customer Accounts
Other Commitments [Line Items]
Purchases of receivables		$ 17,398,000		$ 263,831,000

Commitments and Contingencies - Leases (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Lease expense	$ 2,559	$ 2,739

Commitments and Contingencies - Future Minimum Lease Commitments (Details) $ in Thousands	Mar. 31, 2018 USD ($)
Years ended December 31,
2018	$ 9,462
2019	12,771
2020	13,032
2021	12,907
2022	12,282
Thereafter	44,663
Total	$ 105,117

Related-Party Transactions - Interest Expense and Accrued Interest (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Santander
Related Party Transaction [Line Items]
Interest expense for affiliate lines/letters of credit	$ 4,367	$ 22,976
Accrued interest for affiliate lines/letters of credit	563		$ 1,435
SHUSA
Related Party Transaction [Line Items]
Interest expense for affiliate lines/letters of credit	35,846	$ 12,634
Accrued interest for affiliate lines/letters of credit	$ 18,073		$ 18,670

Related-Party Transactions - Credit Facilities (Details) - Santander - USD ($) $ in Thousands	1 Months Ended	3 Months Ended
	Aug. 31, 2015	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Related Party Transaction [Line Items]
Guarantee fee, basis spread (as a percent)	12.50%
Guarantee fee expense		$ 2,048	$ 1,465
Guarantee fee payable		$ 9,647		$ 7,598

Related-Party Transactions - Derivatives (Details) - Santander and Affiliates - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Related Party Transaction [Line Items]
Outstanding notional amount	$ 2,532,000		$ 3,734,400
Collateral coverage on derivative liabilities	11,898		$ 1,622
Interest and mark-to-market adjustments	$ 229	$ 29

Related-Party Transactions - Originations (Details) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
SBNA
Related Party Transaction [Line Items]
Servicing fee expense	$ 20,000
Servicing fees payable	9,000		$ 9,000
Referral fee	$ 9,000,000
Referral fee, amortization period	10 years
Unamortized fee balance	$ 4,725,000		4,950,000
Income related to referral fee	225,000	$ 225,000
Servicing fee income on receivables sold	781,000	1,393,000
SBNA \| Receivables Acquired with Deteriorated Credit Quality
Related Party Transaction [Line Items]
Servicing fee expense	297,000
Gain from sale of receivables acquired with deteriorated credit quality			35,927,000
SBNA \| Dealer Loan Portfolio
Related Party Transaction [Line Items]
Relationship management fee income	0	0
Due from related parties	0		0
SBNA \| Origination Fee Income
Related Party Transaction [Line Items]
Revenue from related parties	456,000	600,000
SBNA \| Renewal Fee Income
Related Party Transaction [Line Items]
Revenue from related parties	384,000	306,000
SBNA \| Origination and Renewal Fees
Related Party Transaction [Line Items]
Due from related parties	268,000		369,000
SBNA \| Loan Origination on Sales of Floorplan Inventory
Related Party Transaction [Line Items]
Due to related parties	6,708,000		$ 4,481,000
SBNA \| Serviced Auto Loan and Retail Installment
Related Party Transaction [Line Items]
Servicing fee income on receivables sold	742,000	925,000
SBNA \| Fee for Payments Made at Retail Branch Locations
Related Party Transaction [Line Items]
Expenses from transaction with related party	187,000	$ 197,000
Affiliates \| Purchase of Retail Installment Contracts \| SBNA
Related Party Transaction [Line Items]
Additions to servicing asset	24,000,000
Affiliates \| Referral Fee Income \| SBNA
Related Party Transaction [Line Items]
Revenue from related parties	146,000
Affiliates \| Servicing Fee Income \| SBNA
Related Party Transaction [Line Items]
Revenue from related parties	26,000
Affiliates \| Referral and Servicing Fee \| SBNA
Related Party Transaction [Line Items]
Due from related parties	$ 155,000

Related-Party Transactions - Information on Serviced Auto Loan and Retail Installment Contract Portfolio (Details) - SBNA - Serviced Auto Loan and Retail Installment - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Related Party Transaction [Line Items]
Total serviced portfolio	$ 371,622	$ 400,788
Cash collections due to owner	12,917	11,870
Servicing fees receivable	$ 819	$ 839

Related-Party Transactions - Information on Serviced Receivables for SBNA (Details) - SBNA - Serviced Receivables $ in Thousands	Mar. 31, 2018 USD ($)
Related Party Transaction [Line Items]
Total serviced portfolio	$ 112,900
Cash collections due to owner	291
Servicing fees receivable	$ 96

Related-Party Transactions - Flow Agreements (Details) - SBNA - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017	Jun. 30, 2014
Related Party Transaction [Line Items]
Servicing fee income on receivables sold	$ 781,000	$ 1,393,000
Credit loss indemnification of leases	18,000		$ 18,000	$ 48,226,000
Indemnification expense	722,000	$ 0
Balance of collateral on lease origination	1,483,000		2,210,000
Indemnification liability	$ 1,481,000		$ 2,206,000

Related-Party Transactions - Information on Consumer Vehicle Lease Portfolio (Details) - SBNA - Consumer Vehicle Lease - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Related Party Transaction [Line Items]
Total serviced portfolio	$ 97,274	$ 321,629
Cash collections due to owner	0	0
Servicing fees receivable	238	2,067
Revenue share reimbursement receivable	$ 3,793	$ 1,548

Related-Party Transactions - Securitizations (Details) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Related Party Transaction [Line Items]
Servicing fee income	$ 7,811,000	$ 3,263,000
Santander
Related Party Transaction [Line Items]
Sale of loans securitized	1,475,253,000	700,000,000
Loss from sale of securitized loans	16,903,000	2,700,000
Servicing fee income	4,792,000	$ 0
Due from related parties	2,755,000		$ 1,848,000
Due to related parties	$ 15,408,000		$ 12,961,000

Related-Party Transactions - Employment Agreements (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2018 USD ($)
Chairman and CEO
Related Party Transaction [Line Items]
Compensation expense paid	$ 250

Related-Party Transactions - Other Related Party Transactions (Details)	3 Months Ended
	Mar. 31, 2018 USD ($) ft²	Mar. 31, 2017 USD ($)	Dec. 31, 2017 USD ($)
Related Party Transaction [Line Items]
Lease expense	$ 2,559,000	$ 2,739,000
Future minimum payment of lease	105,117,000
Restricted cash	$ 2,895,615,000	2,946,736,000	$ 2,553,902,000
Chairman and CEO, President and CFO and Board Member
Related Party Transaction [Line Items]
Area of leased property (in square foot) \| ft²	373,000
Lease expense	$ 1,194,000	1,275,000
Lease term	9 years
Future minimum payment of lease	$ 60,697,000
SBNA \| Sublease of Corporate Office Space
Related Party Transaction [Line Items]
Area of property (in square foot) \| ft²	13,000
Sublease revenue	$ 41,000	41,000
Subsidiaries \| Banco Santander Puerto Rico \| Demand Deposits
Related Party Transaction [Line Items]
Restricted cash	189,049,000		$ 106,596,000
Affiliates \| SHUSA
Related Party Transaction [Line Items]
Expenses from transaction with related party	92,000	78,000
Cyber liability insurance, coverage limit	150,000,000
Affiliates \| Fees Paid for Co-Management of Certain Securitizations \| SIS
Related Party Transaction [Line Items]
Expenses from transaction with related party	710,000	150,000
Produban Servicios Informaticos Generales S.L
Related Party Transaction [Line Items]
Expenses incurred	0	$ 21,000
Santander \| Procurement Services
Related Party Transaction [Line Items]
Expenses from transaction with related party	$ 379,000

Computation of Basic and Diluted Earnings per Common Share - Additional Information (Details) - shares	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Employee Stock Option
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Awards excluded from computation of earnings per share (in shares)	284,951	973,230
Restricted Stock Units (RSUs)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Awards excluded from computation of earnings per share (in shares)	0	0

Computation of Basic and Diluted Earnings per Common Share - Summary of Computation of Basic and Diluted Earnings per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Earnings per common share
Net income	$ 242,299	$ 143,427
Weighted average number of common shares outstanding before restricted participating shares	360,703,000	358,939,000
Weighted average number of participating restricted common shares outstanding	0	166,000
Weighted average number of common shares outstanding	360,703,234	359,105,050
Earnings per common share (in usd per share)	$ 0.67	$ 0.40
Earnings per common share - assuming dilution
Net income	$ 242,299	$ 143,427
Weighted average number of common shares outstanding	360,703,234	359,105,050
Effect of employee stock-based awards (in shares)	914,000	1,511,000
Weighted average number of common shares outstanding - assuming dilution	361,616,732	360,616,032
Earnings per common share - assuming dilution (in usd per share)	$ 0.67	$ 0.40

Fair Value of Financial Instruments - Summary of Fair Value Estimates, Methods and Assumptions (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Level 1
Assets:
Cash and cash equivalents	$ 618,809	$ 527,805
Finance receivables held for investment, net	0	0
Restricted cash	2,895,615	2,553,902
Total	3,514,424	3,081,707
Liabilities:
Notes payable — credit facilities	0	0
Notes payable — secured structured financings	0	0
Notes payable — related party	0	0
Total	0	0
Level 2
Assets:
Cash and cash equivalents	0	0
Finance receivables held for investment, net	0	0
Restricted cash	0	0
Total	0	0
Liabilities:
Notes payable — credit facilities	0	0
Notes payable — secured structured financings	13,657,638	12,275,408
Notes payable — related party	0	0
Total	13,657,638	12,275,408
Level 3
Assets:
Cash and cash equivalents	0	0
Finance receivables held for investment, net	24,369,757	24,340,739
Restricted cash	0	0
Total	24,369,757	24,340,739
Liabilities:
Notes payable — credit facilities	5,294,358	4,848,316
Notes payable — secured structured financings	9,275,336	10,412,973
Notes payable — related party	3,148,194	3,754,223
Total	17,717,888	19,015,512
Carrying Value
Assets:
Cash and cash equivalents	618,809	527,805
Finance receivables held for investment, net	22,439,866	22,284,068
Restricted cash	2,895,615	2,553,902
Total	25,954,290	25,365,775
Liabilities:
Notes payable — credit facilities	5,294,358	4,848,316
Notes payable — secured structured financings	22,862,607	22,557,895
Notes payable — related party	3,148,194	3,754,223
Total	31,305,159	31,160,434
Estimated Fair Value
Assets:
Cash and cash equivalents	618,809	527,805
Finance receivables held for investment, net	24,369,757	24,340,739
Restricted cash	2,895,615	2,553,902
Total	27,884,181	27,422,446
Liabilities:
Notes payable — credit facilities	5,294,358	4,848,316
Notes payable — secured structured financings	22,932,974	22,688,381
Notes payable — related party	3,148,194	3,754,223
Total	$ 31,375,526	$ 31,290,920

Fair Value of Financial Instruments - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - Recurring - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Retail installment contracts acquired individually	$ 18,850	$ 22,124
Interest Rate Caps
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other assets	176,426	129,718
Due from affiliates	21,241	6,112
Other liabilities		20,019
Due to affiliates		12,090
Interest Rate Swaps
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other assets	16,685	7,925
Due from affiliates		1,671
Other liabilities	211
Interest Rate Swaps \| Cash Flow Hedging
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other assets	71,351	39,036
Due from affiliates		6,950
Trading Options for Interest Rate Caps
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other assets		20,075
Due from affiliates		12,090
Other liabilities	176,307	129,712
Due to affiliates	21,241	6,112
Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Retail installment contracts acquired individually	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) \| Interest Rate Caps
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other assets	0	0
Due from affiliates	0	0
Other liabilities		0
Due to affiliates		0
Quoted Prices in Active Markets for Identical Assets (Level 1) \| Interest Rate Swaps
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other assets	0	0
Due from affiliates		0
Other liabilities	0
Quoted Prices in Active Markets for Identical Assets (Level 1) \| Interest Rate Swaps \| Cash Flow Hedging
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other assets	0	0
Due from affiliates		0
Quoted Prices in Active Markets for Identical Assets (Level 1) \| Trading Options for Interest Rate Caps
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other assets		0
Due from affiliates		0
Other liabilities	0	0
Due to affiliates	0	0
Significant Other Observable Inputs (Level 2)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Retail installment contracts acquired individually	0	0
Significant Other Observable Inputs (Level 2) \| Interest Rate Caps
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other assets	176,426	129,718
Due from affiliates	21,241	6,112
Other liabilities		20,019
Due to affiliates		12,090
Significant Other Observable Inputs (Level 2) \| Interest Rate Swaps
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other assets	16,685	7,925
Due from affiliates		1,671
Other liabilities	211
Significant Other Observable Inputs (Level 2) \| Interest Rate Swaps \| Cash Flow Hedging
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other assets	71,351	39,036
Due from affiliates		6,950
Significant Other Observable Inputs (Level 2) \| Trading Options for Interest Rate Caps
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other assets		20,075
Due from affiliates		12,090
Other liabilities	176,307	129,712
Due to affiliates	21,241	6,112
Significant Unobservable Inputs (Level 3)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Retail installment contracts acquired individually	18,850	22,124
Significant Unobservable Inputs (Level 3) \| Interest Rate Caps
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other assets	0	0
Due from affiliates	0	0
Other liabilities		0
Due to affiliates		0
Significant Unobservable Inputs (Level 3) \| Interest Rate Swaps
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other assets	0	0
Due from affiliates		0
Other liabilities	0
Significant Unobservable Inputs (Level 3) \| Interest Rate Swaps \| Cash Flow Hedging
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other assets	0	0
Due from affiliates		0
Significant Unobservable Inputs (Level 3) \| Trading Options for Interest Rate Caps
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other assets		0
Due from affiliates		0
Other liabilities	0	0
Due to affiliates	$ 0	$ 0

Fair Value of Financial Instruments - Change in Level 3 Balances (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Derivative Financial Instruments, Liabilities \| Total Return Settlement
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance — beginning of period		$ 30,618
(Gains)/losses recognized in earnings		505
Settlements		0
Balance — end of period		31,123
Retail Installment Contracts
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance — beginning of period	$ 22,124	24,495
Additions / issuances	1,349	13,331
Net collection activities	(5,594)	(10,113)
Loans sold	0	0
Transfers to held for sale	0	(12)
Gains recognized in earnings	971	2,951
Balance — end of period	$ 18,850	$ 30,652

Fair Value of Financial Instruments - Assets and Liabilities Measured at Fair Value on Nonrecurring Basis (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Vehicles
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets, fair value, nonrecurring	$ 383,657	$ 293,546
Lower of cost or fair value expense	0	0
Vehicles \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets, fair value, nonrecurring	0	0
Vehicles \| Significant Other Observable Inputs (Level 2)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets, fair value, nonrecurring	383,657	293,546
Vehicles \| Significant Unobservable Inputs (Level 3)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets, fair value, nonrecurring	0	0
Personal loans held for sale
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets, fair value, nonrecurring	967,789	1,062,089
Lower of cost or fair value expense	58,963	374,374
Personal loans held for sale \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets, fair value, nonrecurring	0	0
Personal loans held for sale \| Significant Other Observable Inputs (Level 2)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets, fair value, nonrecurring	0	0
Personal loans held for sale \| Significant Unobservable Inputs (Level 3)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets, fair value, nonrecurring	967,789	1,062,089
Retail installment contracts held for sale
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets, fair value, nonrecurring	643,746	1,148,332
Lower of cost or fair value expense	11,536	11,686
Retail installment contracts held for sale \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets, fair value, nonrecurring	0	0
Retail installment contracts held for sale \| Significant Other Observable Inputs (Level 2)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets, fair value, nonrecurring	0	0
Retail installment contracts held for sale \| Significant Unobservable Inputs (Level 3)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets, fair value, nonrecurring	643,746	1,148,332
Auto loans impaired due to bankruptcy
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets, fair value, nonrecurring	128,641	121,578
Lower of cost or fair value expense	82,145	75,194
Auto loans impaired due to bankruptcy \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets, fair value, nonrecurring	0	0
Auto loans impaired due to bankruptcy \| Significant Other Observable Inputs (Level 2)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets, fair value, nonrecurring	128,641	121,578
Auto loans impaired due to bankruptcy \| Significant Unobservable Inputs (Level 3)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets, fair value, nonrecurring		$ 0

Fair Value of Financial Instruments - Quantitative Information for Assets and Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Retail installment contracts held for investment \| Discounted Cash Flow
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Fair Value	$ 18,850	$ 22,124
Retail installment contracts held for investment \| Discounted Cash Flow \| Minimum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Discount Rate	8.00%	8.00%
Default Rate	15.00%	15.00%
Prepayment Rate	6.00%	6.00%
Loss Severity Rate	50.00%	50.00%
Retail installment contracts held for investment \| Discounted Cash Flow \| Maximum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Discount Rate	10.00%	10.00%
Default Rate	20.00%	20.00%
Prepayment Rate	8.00%	8.00%
Loss Severity Rate	60.00%	60.00%
Personal loans held for sale \| Lower of Market or Income Approach
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Fair Value	$ 967,789	$ 1,062,089
Personal loans held for sale \| Market Approach \| Minimum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Market Participant View	70.00%	70.00%
Personal loans held for sale \| Market Approach \| Maximum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Market Participant View	80.00%	80.00%
Personal loans held for sale \| Income Approach \| Minimum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Discount Rate	15.00%	15.00%
Default Rate	30.00%	30.00%
Loss Severity Rate	90.00%	90.00%
Net Principal Payment Rate	50.00%	50.00%
Personal loans held for sale \| Income Approach \| Maximum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Discount Rate	20.00%	20.00%
Default Rate	40.00%	40.00%
Loss Severity Rate	95.00%	95.00%
Net Principal Payment Rate	70.00%	70.00%
Retail installment contracts held for sale \| Discounted Cash Flow
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Fair Value		$ 1,148,332
Retail installment contracts held for sale \| Discounted Cash Flow \| Minimum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Discount Rate		3.00%
Default Rate		3.00%
Prepayment Rate		15.00%
Loss Severity Rate		50.00%
Retail installment contracts held for sale \| Discounted Cash Flow \| Maximum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Discount Rate		6.00%
Default Rate		4.00%
Prepayment Rate		20.00%
Loss Severity Rate		60.00%
Retail installment contracts held for sale \| Income Approach
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Fair Value	$ 643,746
Retail installment contracts held for sale \| Income Approach \| Minimum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Expected Yield	1.00%
Expected Lifetime Cumulative Net Loss	4.00%
Weighted Average Life	2 years
Retail installment contracts held for sale \| Income Approach \| Maximum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Expected Yield	2.00%
Expected Lifetime Cumulative Net Loss	6.00%
Weighted Average Life	3 years

Employee Benefit Plans - Additional Information (Details) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017	Dec. 31, 2013	Dec. 31, 2011
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, shares issued	361,260,828		360,779,465
Expiration period	10 years
MEP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common shares stock awards available for grant					29,000,000
Omnibus Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, shares issued				5,192,641
Omnibus Incentive Plan \| Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common shares stock awards available for grant	583,890
Stock vesting period	5 years
Employee Benefits and Share-based Compensation	$ 0	$ 178,000
Omnibus Incentive Plan \| Stock Options and Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee Benefits and Share-based Compensation	$ 4,208,000	$ 2,067,000
Omnibus Incentive Plan \| RSUs \| Certain Officers
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Transfer and sale restrictions period	1 year
Omnibus Incentive Plan \| RSUs \| Vesting One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock vesting period	3 years
Omnibus Incentive Plan \| RSUs \| Vesting Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock vesting period	5 years

Employee Benefit Plans - Summary of Stock Options and Related Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Shares
Options outstanding, Beginning balance (in shares)	1,695,008,000
Granted (in shares)	0
Exercised (in shares)	(205,306,000)
Expired (in shares)	(4,200,000)
Forfeited (in shares)	(64,268,000)
Options outstanding, Ending balance (in shares)	1,421,234,000	1,695,008,000
Options exercisable, Ending balance (in shares)	1,279,659,000
Weighted Average Exercise Price
Options outstanding, Beginning balance (in usd per share)	$ 12.39
Granted (in usd per share)	0.00
Exercised (in usd per share)	9.48
Expired (in usd per share)	22.72
Forfeited (in usd per share)	23.72
Options outstanding, Ending balance (in usd per share)	12.26	$ 12.39
Options exercisable, Weighted average exercise price, Ending balance (in usd per share)	$ 11.37
Weighted Average Remaining Contractual Term (Years)
Options outstanding, Weighted average remaining contractual term (Years)	3 years 9 months 18 days	4 years 8 months 12 days
Options exercisable, Weighted average remaining contractual term (Years)	3 years 6 months
Aggregate Intrinsic Value
Options outstanding, Aggregate intrinsic value	$ 7,546	$ 12,058
Exercised Aggregate intrinsic value	1,553
Options exercisable, Aggregate intrinsic value	$ 7,465

Employee Benefit Plans - Schedule of Restricted Stock and Performance Stock Units (Details) - Restricted Stock and Performance Stock Units - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Shares
Outstanding as of January 1, 2018 (in shares)	650,252
Granted (in shares)	519,772
Vested (in shares)	(377,233)
Forfeited/canceled (in shares)	(13,909)
Unvested as of March 31, 2018 (in shares)	778,882	650,252
Weighted Average Exercise Price
Outstanding as of January 1, 2018 (in usd per share)	$ 12.68
Granted (in usd per share)	16.12
Vested (in usd per share)	14.53
Forfeited/canceled (in usd per share)	12.81
Unvested as of March 31, 2018 (in usd per share)	$ 14.09	$ 12.68
Weighted Average Remaining Contractual Term (Years)	1 year 6 months	1 year
Aggregate Intrinsic Value
Outstanding as of January 1, 2018		$ 12,108
Vested	$ 6,107
Unvested as of March 31, 2018	$ 12,696

Shareholders' Equity - Treasury Stock (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2013
Equity [Abstract]
Number of shares withheld to cover income taxes related to vesting of RSUs	252,002
Treasury stock value	$ 5,370
Number of shares repurchased prior to the IPO		3,154
Number of shares withheld for income tax	248,848

Shareholders' Equity - Summary of Changes in Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Accumulated Other Comprehensive Income Loss [Line Items]
Cumulative-effect adjustment upon adoption of ASU	$ 0	$ 26,552
Increase (Decrease) in Accumulated Other Comprehensive Loss [Roll Forward]
Beginning balance, unrealized gains (losses) on cash flow hedges	6,480,501	5,238,619
Ending balance, unrealized gains (losses) on cash flow hedges	6,726,015	5,418,998
Unrealized Gains (Losses) on Cash Flow Hedges
Increase (Decrease) in Accumulated Other Comprehensive Loss [Roll Forward]
Beginning balance, unrealized gains (losses) on cash flow hedges	44,262	28,259
Other comprehensive income (loss) before reclassifications (gross) (a)	22,919	9,900
Amounts (gross) reclassified out of accumulated other comprehensive income (loss)	(3,970)	(2,655)
Ending balance, unrealized gains (losses) on cash flow hedges	63,211	35,504
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income Loss [Line Items]
Cumulative-effect adjustment upon adoption of ASU	6,149
Increase (Decrease) in Accumulated Other Comprehensive Loss [Roll Forward]
Beginning balance, unrealized gains (losses) on cash flow hedges	44,262	28,259
Ending balance, unrealized gains (losses) on cash flow hedges	$ 63,211	$ 35,504

Shareholders' Equity - Reclassification of Amounts Out of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income On Derivatives [Line Items]
Cash flow hedges	$ 241,028	$ 227,089
Tax expense (benefit)	57,311	78,001
Net of tax	(242,299)	(143,427)
Reclassification out of Accumulated Other Comprehensive Income \| Unrealized Gains (Losses) on Cash Flow Hedges
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income On Derivatives [Line Items]
Cash flow hedges	(4,578)	(4,240)
Tax expense (benefit)	608	1,585
Net of tax	$ (3,970)	$ (2,655)

Shareholders' Equity - Dividends (Details) - $ / shares		1 Months Ended	3 Months Ended
Shareholders' Equity - Dividends (Details) - $ / shares	May 14, 2018	Feb. 28, 2018	Mar. 31, 2018	Mar. 31, 2017
Dividends Payable [Line Items]
Dividend paid per common share (in usd per share)		$ 0.05	$ 0.05	$ 0
Dividends declared, per share (in usd per share)		$ 0.05
Scenario, Forecast
Dividends Payable [Line Items]
Dividend paid per common share (in usd per share)	$ 0.05

Investment Losses, Net - Schedule of Investment Gains (Losses), Net (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Investments, Debt and Equity Securities [Abstract]
Gain (loss) on sale of loans and leases	$ (16,696)	$ (10,882)
Lower of cost or market adjustments	(70,499)	(66,121)
Other gains, losses and impairments, net	675	604
Investment losses, net	$ (86,520)	$ (76,399)

- Definition

This item represents the net total realized and unrealized gain (loss) included in earnings for the period as a result of selling or holding marketable securities categorized as trading, available-for-sale, or held-to-maturity, including the unrealized holding gain (loss) of held-to-maturity securities transferred to the trading security category and the cumulative unrealized gain (loss) which was included in other comprehensive income (a separate component of shareholders' equity) for available-for-sale securities transferred to trading securities during the period. Additionally, this item would include any gains (losses) realized during the period from the sale of investments accounted for under the cost method of accounting and losses recognized for other than temporary impairments (OTTI) of the subject investments.

+ References + Details

Investment Losses, Net - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Investments, Debt and Equity Securities [Abstract]
Lower of cost or market adjustment, customer default activity	$ 105,774	$ 116,641
Lower of cost or market adjustment	$ 35,275	$ 50,520