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Securities Available for Sale (Tables)
 12 Months Ended
Dec. 31, 2019
Investments, Debt and Equity Securities [Abstract]  
Schedule of Available-for-sale Securities Reconciliation
The amortized cost, gross unrealized gains and losses, and fair value of securities available for sale as of December 31, 2019 and 2018, were as follows:
December 31, 2019
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
Asset-backed senior securities (1)
$
108,780

 
$
597

 
$
(38
)
 
$
109,339

CLUB Certificate asset-backed securities (1)
90,728

 
41

 
(1,063
)
 
89,706

Asset-backed subordinated securities (1)
20,888

 
423

 
(221
)
 
21,090

Corporate debt securities
14,333

 
11

 
(1
)
 
14,343

Certificates of deposit
13,100

 
—

 
—

 
13,100

Other asset-backed securities
12,075

 
6

 
(1
)
 
12,080

Commercial paper
9,274

 
—

 
—

 
9,274

U.S. agency securities
1,995

 
—

 
—

 
1,995

Total securities available for sale (2)
$
271,173

 
$
1,078

 
$
(1,324
)
 
$
270,927

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2018
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
Asset-backed senior securities (1)(2)
$
56,363

 
$
188

 
$
(62
)
 
$
56,489

CLUB Certificate asset-backed securities (1)
48,505

 
150

 
(225
)
 
48,430

Corporate debt securities
17,339

 
1

 
(12
)
 
17,328

Certificates of deposit
14,929

 
—

 
—

 
14,929

Asset-backed subordinated securities (1)
11,602

 
249

 
(2
)
 
11,849

Other asset-backed securities
11,232

 
—

 
(7
)
 
11,225

Commercial paper
9,720

 
—

 
—

 
9,720

Other securities
499

 
—

 
—

 
499

Total securities available for sale
$
170,189

 
$
588

 
$
(308
)
 
$
170,469


(1) 
As of December 31, 2019 and 2018, $219.0 million and $115.1 million, respectively, of the asset-backed securities related to Structured Program transactions at fair value are subject to restrictions on transfer pursuant to the Company’s obligations as a “sponsor” under the U.S. Risk Retention Rules (as more fully described in “Part I – Item 1A. Risk Factors – Risk retention rules may increase our compliance costs, impair our liquidity and otherwise adversely affect our operating results.”)
(2) 
As of December 31, 2019 and 2018, includes $174.8 million and $53.6 million, respectively, of securities pledged as collateral at fair value.
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value
A summary of securities available for sale with unrealized losses as of December 31, 2019 and 2018, aggregated by period of continuous unrealized loss, is as follows:
 
Less than
12 months
 
12 months
or longer
 
Total
December 31, 2019
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
Asset-backed securities related to Structured Program transactions
$
91,350

 
$
(1,287
)
 
$
1,875

 
$
(35
)
 
$
93,225

 
$
(1,322
)
Corporate debt securities
4,613

 
(1
)
 
—

 
—

 
4,613

 
(1
)
Other asset-backed securities
3,062

 
(1
)
 
—

 
—

 
3,062

 
(1
)
Total securities with unrealized losses (1)
$
99,025

 
$
(1,289
)
 
$
1,875

 
$
(35
)
 
$
100,900

 
$
(1,324
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Less than
12 months
 
12 months
or longer
 
Total
December 31, 2018
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
Asset-backed securities related to Structured Program transactions
$
49,047

 
$
(285
)
 
$
1,745

 
$
(4
)
 
$
50,792

 
$
(289
)
Corporate debt securities
14,538

 
(12
)
 
—

 
—

 
14,538

 
(12
)
Other asset-backed securities
11,208

 
(7
)
 
—

 
—

 
11,208

 
(7
)
Total securities with unrealized losses (1)
$
74,793

 
$
(304
)
 
$
1,745

 
$
(4
)
 
$
76,538

 
$
(308
)
(1) 
The number of investment positions with unrealized losses at December 31, 2019 and 2018 totaled 70 and 56, respectively.
Investments Classified by Contractual Maturity Date
The contractual maturities of securities available for sale at December 31, 2019, were as follows:
 
Amortized Cost
 
Fair Value
Within 1 year:
 
 
 
Corporate debt securities
$
14,333

 
$
14,343

Certificates of deposit
13,100

 
13,100

Other asset-backed securities
7,756

 
7,758

Commercial paper
9,274

 
9,274

U.S. agency securities
1,995

 
1,995

Total
46,458

 
46,470

After 1 year through 5 years:
 
 
 
Other asset-backed securities
4,319

 
4,322

Total
4,319

 
4,322

Asset-backed securities related to Structured Program transactions
220,396

 
220,135

Total securities available for sale
$
271,173

 
$
270,927
Schedule of Proceeds from Sales and Realized Gain (Loss) on Available-for-sale Securities Proceeds and gross realized gains and losses from other sales of securities available for sale were as follows:
Year Ended December 31,
2019
 
2018
 
2017
Proceeds
$
12,548

 
$
497

 
$
125,522

Gross realized gains
$
9

 
$
1

 
$
196

Gross realized losses
$
(1
)
 
$
(3
)
 
$
(26
)