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New words:
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Removed:
ABS, accruing, applying, Azionario, began, borrower, Borsa, ceased, Citibank, criteria, Deferral, Facilitation, fourth, increasing, Italiana, limit, longer, manufacturing, maturity, Mercato, modified, monitor, prospective, prospectively, reduction, reference, retrospective, Rule, submitted, sunset, Telematico, temporary, Topic, transition, troubled
Financial report summary
?Management Discussion
- Total revenues were $306.3 million for the three months ended March 31, 2024 compared to $228.5 million for the three months ended March 31, 2023. The increase was due to a higher average portfolio coupled with a higher average yield for the total portfolio. The average yield for the total portfolio was 8.1% and 7.4% for the three months ended March 31, 2024 and 2023, respectively.
- Interest income on retail notes and finance leases for the three months ended March 31, 2024 was $87.4 million, representing an increase of $19.2 million from the three months ended March 31, 2023. The increase was due to the favorable impacts of $10.0 million from higher interest rates and $9.2 million from higher average earning assets.
- Rental income on operating leases for the three months ended March 31, 2024 was $59.8 million, representing an increase of $2.8 million from the same period in 2023. The increase was primarily due to a $6.8 million favorable impact from higher interest rates, partially offset by a $4.0 million unfavorable impact from lower average earning assets.