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Variable Interest Entities and Securitizations (Tables)
12 Months Ended
Dec. 31, 2024
Variable Interest Entities and Securitizations [Abstract]  
Schedule 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 the Company’s variable interests in consolidated VIEs, as classified in the consolidated balance sheets (in thousands):
 

As of December 31, 2024

   

Securitization
Vehicles

 

Warehouse
Facilities
(1)

 

Total

Assets:

 

 

   

 

   

 

 

Restricted cash

 

$

29,213

 

$

18,895

 

$

48,108

Finance receivables at fair value

 

 

214,420

 

 

252,900

 

 

467,320

Finance receivables held for sale

 

 

178,845

 

 

131,120

 

 

309,965

Interest receivable

 

 

6,892

 

 

6,370

 

 

13,262

Other assets

 

 

6,057

 

 

4,700

 

 

10,757

Total Assets

 

$

435,427

 

$

413,985

 

$

849,412

Liabilities:

 

 

   

 

   

 

 

Securitization debt

 

$

353,356

 

$

 

$

353,356

Warehouse credit facilities

 

 

 

 

359,912

 

 

359,912

Other liabilities

 

 

3,597

 

 

10,244

 

 

13,841

Total Liabilities

 

$

356,953

 

$

370,156

 

$

727,109

 

As of December 31, 2023

   

Securitization
Vehicles

 

Warehouse
Facilities
(1)

 

Total

Assets:

 

 

   

 

   

 

 

Restricted cash

 

$

28,458

 

$

20,688

 

$

49,146

Finance receivables at fair value

 

 

316,998

 

 

24,446

 

 

341,444

Finance receivables held for sale

 

 

 

 

457,185

 

 

457,185

Interest receivable

 

 

6,107

 

 

7,586

 

 

13,693

Other assets

 

 

6,283

 

 

6,987

 

 

13,270

Total Assets

 

$

357,846

 

$

516,892

 

$

874,738

Liabilities:

 

 

   

 

   

 

 

Securitization debt

 

$

314,095

 

$

 

$

314,095

Warehouse credit facilities

 

 

 

 

421,268

 

 

421,268

Other liabilities

 

 

4,534

 

 

9,801

 

 

14,335

Total Liabilities

 

$

318,629

 

$

431,069

 

$

749,698

(1)      Refer to Note 10 — Warehouse Credit Facilities of Consolidated VIEs for further details of the warehouse facilities.

Schedule of Unconsolidated Variable Interest Entity

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 December 31, 2024

 

As of December 31, 2023

   

Aggregate
Principal
Balance

 

Carrying
Value

 

Total
Exposure

 

Aggregate
Principal
Balance

 

Carrying
Value

 

Total
Exposure

Rated notes

 

$

2,106

 

$

1,992

 

$

1,992

 

$

4,538

 

$

4,345

 

$

4,345

Certificates

 

 

 

 

192

 

 

192

 

 

 

 

140

 

 

140

Other assets

 

 

310

 

 

310

 

 

310

 

 

310

 

 

310

 

 

310

Total unconsolidated VIEs

 

$

2,416

 

$

2,494

 

$

2,494

 

$

4,848

 

$

4,795

 

$

4,795