Quarterly Trended Statement Of Operations
SC Delinquency And Loss (Quarterly)
Delinquency Ratios: 30-59 Days Delinquent, Retail Installment Contracts ("RICS"), Held For
Investment ("HFI")
Delinquencies and charge-offs remain low and are beginning to
normalize
11.4% 11.0%
9.7%
8.3%
6.0%
6.8%
7.4%
7.3%
8.0%
4.3%
5.0%
5.5%
4.4%
Delinquency Ratios: >59 Days Delinquent, RICS, HFI
Early stage delinquencies increased 250 bps YoY
6.3% 6.0%
5.1%
4.6%
4.1%
4.1%
3.1%
3.3%
3.4%
Late stage delinquencies increased 170 bps YoY
2.4% 2.4%
2.2% 2.4%
Gross Charge-off Rates
19.2% 20.2%
17.3%
15.5%
11.1%
9.9% 9.7%
6.8%
6.6% 7.7%
9.6% 10.4%
9.5%
Gross charge-off rate increased 290 bps YoY
SC Recovery Rates¹ (% of Gross Loss)
114.9%
91.4%
64.2%
69.1%
74.4%
65.7% 67.8% 69.1%
46.3% 47.3%
52.2% 50.1% 45.7%
Net Charge-off Rates²
SC's Q2 recovery rate of 69% beginning to normalize but remains
elevated due to low gross losses and continued strength in
wholesale auction prices
10.3% 10.6%
8.3% 7.7%
6.0%
3.5% 3.0%
3.3% 3.4%
2.0%
2.9%
0.6%
-1.0%
Q4 Q4
2017
Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 4Q Q1
Q2
2018 2019 2020 2020 2020 2020 2021 2021 2021 2021 2022 2022
Santander 1❘ Recovery rate - Includes insurance proceeds, bankruptcy/deficiency sales, and timing impacts
2 Net charge-off rates on RICS, HFI
Net charge-off rate increased 390 bps YoY
30
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