Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2018

Summary of Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following tables present information about the Company’s assets and liabilities measured at fair value on a recurring basis as of December 31 (in thousands):



	2018		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Cash equivalents	$	998,601	$	728,800	$	269,801	$	—
Marketable securities	54,250		44,243		10,007		—
Derivatives	15,071		—		15,071		—
Total	$	1,067,922	$	773,043	$	294,879	$	—
Liabilities:
Derivatives	$	5,316	$	—	$	5,316	$	—



	2017		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Cash equivalents	$	488,432	$	358,500	$	129,932	$	—
Marketable securities	48,006		48,006		—		—
Derivatives	1,769		—		1,769		—
Total	$	538,207	$	406,506	$	131,701	$	—
Liabilities:
Derivatives	$	21,308	$	—	$	21,308	$	—

Summary Of The Fair Value And Carrying Value Of The Company's Financial Instruments

The following table summarizes the fair value and carrying value of the Company’s remaining financial instruments that are measured at cost or amortized cost at December 31 (in thousands):



	2018				2017
	Fair Value		Carrying Value		Fair Value		Carrying Value
Assets:
Finance receivables, net	$	7,304,334	$	7,221,931	$	7,021,549	$	6,965,086
Liabilities:
Unsecured commercial paper	$	1,135,810	$	1,135,810	$	1,273,482	$	1,273,482
Asset-backed U.S. commercial paper conduit facilities	$	582,717	$	582,717	$	279,457	$	279,457
Asset-backed Canadian commercial paper conduit facility	$	155,951	$	155,951	$	174,779	$	174,779
Medium-term notes	$	4,829,671	$	4,887,007	$	4,189,092	$	4,165,706
Senior unsecured notes	$	707,198	$	742,624	$	784,433	$	741,961
Asset-backed securitization debt	$	94,974	$	95,167	$	351,767	$	352,624