Finance Receivables (Tables)

6 Months Ended

Jun. 29, 2014

Receivables [Abstract]

Finance Receivables

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

	June 29, 2014			December 31, 2013			June 30, 2013
Retail	$	5,603,187		$	5,265,044		$	5,248,289
Wholesale	1,338,085			845,212			1,088,621
	6,941,272			6,110,256			6,336,910
Allowance for credit losses	(122,355		)	(110,693		)	(111,324		)
	$	6,818,917		$	5,999,563		$	6,225,586

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):

	June 29, 2014
	Retail		Wholesale		Total
Allowance for credit losses, ending balance:
Individually evaluated for impairment	$	—	$	—	$	—
Collectively evaluated for impairment	114,899		7,456		122,355
Total allowance for credit losses	$	114,899	$	7,456	$	122,355
Finance receivables, ending balance:
Individually evaluated for impairment	$	—	$	—	$	—
Collectively evaluated for impairment	5,603,187		1,338,085		6,941,272
Total finance receivables	$	5,603,187	$	1,338,085	$	6,941,272
	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
	June 30, 2013
	Retail		Wholesale		Total
Allowance for credit losses, ending balance:
Individually evaluated for impairment	$	—	$	—	$	—
Collectively evaluated for impairment	103,770		7,554		111,324
Total allowance for credit losses	$	103,770	$	7,554	$	111,324
Finance receivables, ending balance:
Individually evaluated for impairment	$	—	$	—	$	—
Collectively evaluated for impairment	5,248,289		1,088,621		6,336,910
Total finance receivables	$	5,248,289	$	1,088,621	$	6,336,910

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

	Three months ended June 29, 2014
	Retail			Wholesale			Total
Balance, beginning of period	$	106,776		$	7,753		$	114,529
Provision for credit losses	16,258			(297		)	15,961
Charge-offs	(19,018		)	—			(19,018		)
Recoveries	10,883			—			10,883
Balance, end of period	$	114,899		$	7,456		$	122,355
	Three months ended June 30, 2013
	Retail			Wholesale			Total
Balance, beginning of period	$	98,542		$	8,250		$	106,792
Provision for credit losses	11,993			(696		)	11,297
Charge-offs	(18,166		)	—			(18,166		)
Recoveries	11,401			—			11,401
Balance, end of period	$	103,770		$	7,554		$	111,324
	Six months ended June 29, 2014
	Retail			Wholesale			Total
Balance, beginning of period	$	106,063		$	4,630		$	110,693
Provision for credit losses	33,466			2,826			36,292
Charge-offs	(46,361		)	—			(46,361		)
Recoveries	21,731			—			21,731
Balance, end of period	$	114,899		$	7,456		$	122,355
	Six months ended June 30, 2013
	Retail			Wholesale			Total
Balance, beginning of period	$	101,442		$	6,225		$	107,667
Provision for credit losses	23,078			1,329			24,407
Charge-offs	(43,409		)	—			(43,409		)
Recoveries	22,659			—			22,659
Balance, end of period	$	103,770		$	7,554		$	111,324

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):

	June 29, 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	$	5,469,796	$	90,617	$	28,088	$	14,686	$	133,391	$	5,603,187
Wholesale	1,337,437		501		113		34		648		1,338,085
Total	$	6,807,233	$	91,118	$	28,201	$	14,720	$	134,039	$	6,941,272
	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
	June 30, 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	$	5,119,572	$	90,790	$	24,023	$	13,904	$	128,717	$	5,248,289
Wholesale	1,087,607		507		281		226		1,014		1,088,621
Total	$	6,207,179	$	91,297	$	24,304	$	14,130	$	129,731	$	6,336,910

Recorded Investment Of Retail Finance Receivables By Credit Quality Indicator

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

	June 29, 2014		December 31, 2013		June 30, 2013
Doubtful	$	4,916	$	—	$	3,958
Substandard	4,192		8,383		14,187
Special Mention	—		2,076		2,929
Medium Risk	16,202		5,205		10,041
Low Risk	1,312,775		829,548		1,057,506
Total	$	1,338,085	$	845,212	$	1,088,621

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

	June 29, 2014		December 31, 2013		June 30, 2013
Prime	$	4,407,364	$	4,141,559	$	4,128,450
Sub-prime	1,195,823		1,123,485		1,119,839
Total	$	5,603,187	$	5,265,044	$	5,248,289