Finance Receivables (Tables)

3 Months Ended

Mar. 30, 2014

Receivables [Abstract]

Finance Receivables

Finance receivables, net, consisted of the following (in thousands):

	March 30, 2014			December 31, 2013			March 31, 2013
Retail	$	5,254,133		$	5,265,044		$	4,981,488
Wholesale	1,298,091			845,212			1,159,243
	6,552,224			6,110,256			6,140,731
Allowance for credit losses	(114,529		)	(110,693		)	(106,792		)
	$	6,437,695		$	5,999,563		$	6,033,939

Changes In The Allowance For Credit Losses On Finance Receivables

The allowance for credit losses and finance receivables by portfolio, segregated by those amounts that are individually evaluated for impairment and those that are collectively evaluated for impairment, was as follows (in thousands):

	March 30, 2014
	Retail		Wholesale		Total
Allowance for credit losses, ending balance:
Individually evaluated for impairment	$	—	$	—	$	—
Collectively evaluated for impairment	106,776		7,753		114,529
Total allowance for credit losses	$	106,776	$	7,753	$	114,529
Finance receivables, ending balance:
Individually evaluated for impairment	$	—	$	—	$	—
Collectively evaluated for impairment	5,254,133		1,298,091		6,552,224
Total finance receivables	$	5,254,133	$	1,298,091	$	6,552,224
	December 31, 2013
	Retail		Wholesale		Total
Allowance for credit losses, ending balance:
Individually evaluated for impairment	$	—	$	—	$	—
Collectively evaluated for impairment	106,063		4,630		110,693
Total allowance for credit losses	$	106,063	$	4,630	$	110,693
Finance receivables, ending balance:
Individually evaluated for impairment	$	—	$	—	$	—
Collectively evaluated for impairment	5,265,044		845,212		6,110,256
Total finance receivables	$	5,265,044	$	845,212	$	6,110,256
	March 31, 2013
	Retail		Wholesale		Total
Allowance for credit losses, ending balance:
Individually evaluated for impairment	$	—	$	—	$	—
Collectively evaluated for impairment	98,542		8,250		106,792
Total allowance for credit losses	$	98,542	$	8,250	$	106,792
Finance receivables, ending balance:
Individually evaluated for impairment	$	—	$	—	$	—
Collectively evaluated for impairment	4,981,488		1,159,243		6,140,731
Total finance receivables	$	4,981,488	$	1,159,243	$	6,140,731

Changes in the allowance for credit losses on finance receivables by portfolio were as follows (in thousands):

	Three months ended March 30, 2014
	Retail			Wholesale		Total
Balance, beginning of period	$	106,063		$	4,630	$	110,693
Provision for credit losses	17,208			3,123		20,331
Charge-offs	(27,343		)	—		(27,343		)
Recoveries	10,848			—		10,848
Balance, end of period	$	106,776		$	7,753	$	114,529
	Three months ended March 31, 2013
	Retail			Wholesale		Total
Balance, beginning of period	$	101,442		$	6,225	$	107,667
Provision for credit losses	11,085			2,025		13,110
Charge-offs	(25,243		)	—		(25,243		)
Recoveries	11,258			—		11,258
Balance, end of period	$	98,542		$	8,250	$	106,792

Aging Of Past Due Finance Receivables Including Non-Accrual Status Finance Receivables

An analysis of the aging of past due finance receivables was as follows (in thousands):

	March 30, 2014
	Current		31-60 Days Past Due		61-90 Days Past Due		Greater than 90 Days Past Due		Total Past Due		Total Finance Receivables
Retail	$	5,134,053	$	80,344	$	22,767	$	16,969	$	120,080	$	5,254,133
Wholesale	1,297,761		144		96		90		330		1,298,091
Total	$	6,431,814	$	80,488	$	22,863	$	17,059	$	120,410	$	6,552,224
	December 31, 2013
	Current		31-60 Days Past Due		61-90 Days Past Due		Greater than 90 Days Past Due		Total Past Due		Total Finance Receivables
Retail	$	5,094,615	$	109,806	$	36,029	$	24,594	$	170,429	$	5,265,044
Wholesale	844,033		791		181		207		1,179		845,212
Total	$	5,938,648	$	110,597	$	36,210	$	24,801	$	171,608	$	6,110,256
	March 31, 2013
	Current		31-60 Days Past Due		61-90 Days Past Due		Greater than 90 Days Past Due		Total Past Due		Total Finance Receivables
Retail	$	4,855,128	$	83,265	$	22,837	$	20,258	$	126,360	$	4,981,488
Wholesale	1,157,596		535		310		802		1,647		1,159,243
Total	$	6,012,724	$	83,800	$	23,147	$	21,060	$	128,007	$	6,140,731

Recorded Investment Of Retail Finance Receivables By Credit Quality Indicator

The recorded investment of retail finance receivables, by credit quality indicator, was as follows (in thousands):

	March 30, 2014		December 31, 2013		March 31, 2013
Prime	$	4,128,996	$	4,141,559	$	3,942,294
Sub-prime	1,125,137		1,123,485		1,039,194
Total	$	5,254,133	$	5,265,044	$	4,981,488

The recorded investment of wholesale finance receivables, by internal credit quality indicator, was as follows (in thousands):

	March 30, 2014		December 31, 2013		March 31, 2013
Doubtful	$	5,508	$	—	$	4,843
Substandard	3,888		8,383		10,441
Special Mention	10,950		2,076		11,125
Medium Risk	11,103		5,205		7,804
Low Risk	1,266,642		829,548		1,125,030
Total	$	1,298,091	$	845,212	$	1,159,243