Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Schedule Of Income Tax Provision

The income tax provision consists of the following:

(In millions)	For the Years Ended December 31,
	2020		2019		2018
Income before provision for income taxes:	$	549.5	$	855.9	$	755.1
Current provision for income taxes:
Federal	53.8		94.1		110.9
State	6.6		18.7		19.5
	60.4		112.8		130.4
Deferred provision for income taxes:
Federal	57.3		70.7		35.0
State	11.0		14.8		14.3
	68.3		85.5		49.3
Interest and penalties expense:
Interest	(0.2)		1.5		1.4
Penalties	—		—		—
	(0.2)		1.5		1.4
Provision for income taxes	$	128.5	$	199.8	$	181.1

Schedule Of Deferred Tax Assets And Liabilities

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities consist of the following:

(In millions)	As of December 31,
	2020		2019
Deferred tax assets:
Allowance for credit losses	$	801.4	$	128.3
Stock-based compensation	15.8		15.5
Deferred state net operating loss	4.3		3.6
Other, net	12.3		13.2
Total deferred tax assets	833.8		160.6
Deferred tax liabilities:
Valuation of Loans receivable	1,208.5		471.3
Deferred Loan origination costs	1.6		1.6
Other, net	14.7		10.2
Total deferred tax liabilities	1,224.8		483.1
Net deferred tax liability	$	391.0	$	322.5

Schedule Of Reconciliation Of The U.S. Federal Statutory Rate To Effective Tax Rate

A reconciliation of the U.S. federal statutory income tax rate to our effective income tax rate is as follows:

	For the Years Ended December 31,
	2020		2019		2018
U.S. federal statutory income tax rate	21.0	%	21.0	%	21.0	%
State income taxes	2.7	%	3.1	%	3.5	%
Excess tax benefits from stock-based compensation plans	-0.5	%	-0.9	%	-0.1	%
Effect of the 2017 Tax Act	—	%	—	%	-0.7	%
Other	0.2	%	0.1	%	0.3	%
Effective income tax rate	23.4	%	23.3	%	24.0	%

Schedule Of Unrecognized Tax Benefits

The following table is a summary of changes in gross unrecognized tax benefits:

(In millions)	For the Years Ended December 31,
	2020		2019		2018
Unrecognized tax benefits at January 1,	$	41.7	$	38.7	$	31.9
Additions for tax positions of the current year	10.2		10.0		10.2
Additions for tax positions of prior years	0.1		—		—
Reductions for tax positions of prior years	—		—		—
Settlements	(4.6)		(2.3)		—
Reductions as a result of a lapse of the statute of limitations	(5.6)		(4.7)		(3.4)
Unrecognized tax benefits at December 31,	$	41.8	$	41.7	$	38.7