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Variable Interest Entities and Securitizations (Tables)
9 Months Ended
Sep. 30, 2022
Variable Interest Entity, Measure of Activity [Abstract]  
Summary of Total Assets and Total Liabilities Associated With Variable Interests in Consolidated VIEs The following table presents the total assets and total liabilities associated with our variable interests in consolidated VIEs, as classified in the condensed consolidated balance sheets (in thousands):

 

 

 

As of September 30, 2022

 

 

 

Securitization Vehicles

 

 

Warehouse
Facilities
1

 

 

Total

 

Current Assets:

 

 

 

 

 

 

 

 

 

Restricted Cash

 

$

10,133

 

 

$

9,356

 

 

$

19,489

 

Finance Receivables at fair value

 

 

5,344

 

 

 

5,597

 

 

 

10,941

 

Finance Receivables held for sale

 

 

 

 

 

137,077

 

 

 

137,077

 

Other assets

 

 

1,141

 

 

 

264

 

 

 

1,405

 

Total Current Assets

 

 

16,618

 

 

 

152,294

 

 

 

168,912

 

Finance Receivables at fair value

 

 

89,117

 

 

 

46,647

 

 

 

135,764

 

Total Assets

 

$

105,735

 

 

$

198,941

 

 

$

304,676

 

Current Liabilities:

 

 

 

 

 

 

 

 

 

Current portion of securitization debt

 

$

54,652

 

 

$

 

 

$

54,652

 

Warehouse credit facilities

 

 

 

 

 

135,453

 

 

 

135,453

 

Total Current Liabilities

 

 

54,652

 

 

 

135,453

 

 

 

190,105

 

Securitization debt, net of current portion

 

 

40,842

 

 

 

 

 

 

40,842

 

Other liabilities

 

 

97

 

 

 

407

 

 

 

504

 

Total Liabilities

 

$

95,591

 

 

$

135,860

 

 

$

231,451

 

 

1 Refer to Note 11 – Warehouse Credit Facilities of Consolidated VIEs for further details of the warehouse facilities.

Summary of Unconsolidated Variable Interest Entities

The following table summarizes the amortized cost, the carrying amount, which is the fair value, and the maximum exposure to losses of UACC's assets related to unconsolidated VIEs (in thousands):

 

 

 

As of September 30, 2022

 

 

 

Aggregate Principal Balance

 

 

Carrying Value

 

 

Total Exposure

 

Rated notes

 

$

22,004

 

 

$

21,580

 

 

$

21,580

 

Certificates

 

 

 

 

 

2,404

 

 

 

2,404

 

Other assets

 

 

310

 

 

 

310

 

 

 

310

 

Total unconsolidated VIEs

 

$

22,314

 

 

$

24,294

 

 

$

24,294