Accounts Receivable and Finance Receivables (Tables)

6 Months Ended

Jun. 30, 2012

Accounts Receivable and Finance Receivables

Accounts Receivable

(In millions)	June 30, 2012			December 31, 2011
Commercial	$	577		$	528
U.S. Government contracts	358			346
	935			874
Allowance for doubtful accounts	(18		)	(18		)
Total accounts receivable, net	$	917		$	856

Finance Receivables

(In millions)	June 30, 2012		December 31, 2011
Captive	$	1,753	$	1,945
Golf Mortgage	244		381
Timeshare	203		318
Structured Capital	149		208
Other liquidating	23		43
Total finance receivables	2,372		2,895
Less: Allowance for losses	122		156
Less: Finance receivables held for sale	244		418
Total finance receivables held for investment, net	$	2,006	$	2,321

Finance receivables held for investment based on the internally assigned credit quality

	June 30, 2012											December 31, 2011
(In millions)	Performing			Watchlist			Nonaccrual			Total		Performing			Watchlist			Nonaccrual			Total
Captive	$	1,491		$	150		$	112		$	1,753	$	1,558		$	251		$	136		$	1,945
Timeshare	73			4			126			203		89			25			167			281
Structured Capital	144			5			—			149		203			5			—			208
Other liquidating	9			—			14			23		25			—			18			43
Total	$	1,717		$	159		$	252		$	2,128	$	1,875		$	281		$	321		$	2,477
% of Total	80.7		%	7.5		%	11.8		%			75.7		%	11.3		%	13.0		%

Finance receivables held for investment by delinquency aging

	June 30, 2012										December 31, 2011
(In millions)	Less Than 31 Days Past Due		31-60 Days Past Due		61-90 Days Past Due		Over 90 Days Past Due		Total		Less Than 31 Days Past Due		31-60 Days Past Due		61-90 Days Past Due		Over 90 Days Past Due		Total
Captive	$	1,571	$	43	$	71	$	68	$	1,753	$	1,758	$	69	$	43	$	75	$	1,945
Timeshare	171		10		—		22		203		238		3		—		40		281
Structured Capital	149		—		—		—		149		208		—		—		—		208
Other liquidating	15		—		—		8		23		35		—		—		8		43
Total	$	1,906	$	53	$	71	$	98	$	2,128	$	2,239	$	72	$	43	$	123	$	2,477

Summary of impaired finance receivables, excluding leveraged leases

	Recorded Investment
(In millions)	Impaired Loans with No Related Allowance for Credit Losses		Impaired Loans with Related Allowance for Credit Losses		Total Impaired Loans		Unpaid Principal Balance		Allowance For Losses On Impaired Loans		Average Recorded Investment
June 30, 2012
Captive	$	28	$	85	$	113	$	119	$	23	$	121
Timeshare	95		62		157		214		29		195
Other liquidating	1		12		13		23		9		14
Total	$	124	$	159	$	283	$	356	$	61	$	330
December 31, 2011
Captive	$	47	$	94	$	141	$	144	$	40	$	149
Timeshare	170		57		227		288		38		315
Golf Mortgage	—		—		—		—		—		232
Other liquidating	3		12		15		59		9		30
Total	$	220	$	163	$	383	$	491	$	87	$	726

Allowance for Losses

(In millions)	Captive			Golf Mortgage			Timeshare			Other liquidating			Total
For the six months ended June 30, 2012
Beginning balance	$	101		$	—		$	40		$	15		$	156
Provision for losses	—			—			2			(5		)	(3		)
Charge-offs	(26		)	—			(13		)	(1		)	(40		)
Recoveries	7			—			—			2			9
Ending balance	$	82		$	—		$	29		$	11		$	122
For the six months ended July 2, 2011
Beginning balance	$	123		$	79		$	106		$	34		$	342
Provision for losses	14			(1		)	10			1			24
Charge-offs	(26		)	(4		)	(28		)	(10		)	(68		)
Recoveries	6			—			—			8			14
Transfers	—			—			—			(13		)	(13		)
Ending balance	$	117		$	74		$	88		$	20		$	299

Allowance for losses on finance receivables on an individual and on a collective basis

	June 30, 2012								July 2, 2011
					Allowance		Allowance						Allowance		Allowance
	Finance				Based on		Based on		Finance				Based on		Based on
	Receivables Evaluated				Individual		Collective		Receivables Evaluated				Individual		Collective
(In millions)	Individually		Collectively		Evaluation		Evaluation		Individually		Collectively		Evaluation		Evaluation
Captive	$	113	$	1,640	$	23	$	59	$	143	$	2,009	$	44	$	73
Timeshare	157		46		29		—		322		188		86		2
Golf Mortgage	—		—		—		—		294		325		44		30
Other liquidating	13		10		9		2		28		54		9		11
Total	$	283	$	1,696	$	61	$	61	$	787	$	2,576	$	183	$	116