Accounts Receivable and Finance Receivables (Tables)

6 Months Ended

Jun. 29, 2013

Accounts Receivable and Finance Receivables

Accounts Receivable

(In millions)	June 29, 2013			December 29, 2012
Commercial	$	658		$	534
U.S. Government contracts	370			314
	1,028			848
Allowance for doubtful accounts	(21		)	(19		)
Total	$	1,007		$	829

Finance Receivables

(In millions)	June 29, 2013		December 29, 2012
Captive	$	1,408	$	1,704
Non-captive	275		370
Total finance receivables	1,683		2,074
Less: Allowance for losses	67		84
Less: Finance receivables held for sale	106		140
Total finance receivables held for investment, net	$	1,510	$	1,850

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

	June 29, 2013											December 29, 2012
(In millions)	Performing			Watchlist			Nonaccrual			Total		Performing			Watchlist			Nonaccrual			Total
Captive	$	1,211		$	90		$	107		$	1,408	$	1,476		$	130		$	98		$	1,704
Non-captive*	152			—			17			169		185			—			45			230
Total	$	1,363		$	90		$	124		$	1,577	$	1,661		$	130		$	143		$	1,934
% of Total	86.4		%	5.7		%	7.9		%			85.9		%	6.7		%	7.4		%

*Non-captive nonaccrual finance receivables are primarily related to the Timeshare portfolio.

Finance receivables held for investment by delinquency aging

	June 29, 2013										December 29, 2012
(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	$	1,220	$	126	$	24	$	38	$	1,408	$	1,531	$	87	$	55	$	31	$	1,704
Non-captive	166		—		—		3		169		226		—		1		3		230
Total	$	1,386	$	126	$	24	$	41	$	1,577	$	1,757	$	87	$	56	$	34	$	1,934

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 29, 2013
Captive	$	67	$	71	$	138	$	144	$	18	$	134
Non-captive*	7		11		18		25		4		32
Total	$	74	$	82	$	156	$	169	$	22	$	166
December 29, 2012
Captive	$	61	$	66	$	127	$	128	$	15	$	121
Non-captive*	11		33		44		59		12		149
Total	$	72	$	99	$	171	$	187	$	27	$	270

*Non-captive impaired loans are primarily related to the Timeshare portfolio.

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

	June 29, 2013								December 29, 2012
					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	$	138	$	1,270	$	18	$	44	$	127	$	1,577	$	15	$	55
Non-captive	18		32		4		1		44		64		12		2
Total	$	156	$	1,302	$	22	$	45	$	171	$	1,641	$	27	$	57

Allowance for Losses

(In millions)	Captive			Non-captive*			Total
For the six months ended June 29, 2013
Beginning balance	$	70		$	14		$	84
Provision for losses	(5		)	(11		)	(16		)
Charge-offs	(6		)	(2		)	(8		)
Recoveries	3			4			7
Ending balance	$	62		$	5		$	67
For the six months ended June 30, 2012
Beginning balance	$	101		$	55		$	156
Provision for losses	—			(3		)	(3		)
Charge-offs	(26		)	(14		)	(40		)
Recoveries	7			2			9
Ending balance	$	82		$	40		$	122

*Non-captive allowance for losses is primarily related to the Timeshare portfolio.