Finance Receivables (Tables)

3 Months Ended

Mar. 29, 2015

Receivables [Abstract]

Finance Receivables

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

	March 29, 2015			December 31, 2014			March 30, 2014
Retail	$	5,576,558		$	5,607,924		$	5,254,133
Wholesale	1,404,854			952,321			1,298,091
	6,981,412			6,560,245			6,552,224
Allowance for credit losses	(132,820		)	(127,364		)	(114,529		)
	$	6,848,592		$	6,432,881		$	6,437,695

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 29, 2015
	Retail		Wholesale		Total
Allowance for credit losses, ending balance:
Individually evaluated for impairment	$	—	$	—	$	—
Collectively evaluated for impairment	123,777		9,043		132,820
Total allowance for credit losses	$	123,777	$	9,043	$	132,820
Finance receivables, ending balance:
Individually evaluated for impairment	$	—	$	—	$	—
Collectively evaluated for impairment	5,576,558		1,404,854		6,981,412
Total finance receivables	$	5,576,558	$	1,404,854	$	6,981,412
	December 31, 2014
	Retail		Wholesale		Total
Allowance for credit losses, ending balance:
Individually evaluated for impairment	$	—	$	—	$	—
Collectively evaluated for impairment	122,025		5,339		127,364
Total allowance for credit losses	$	122,025	$	5,339	$	127,364
Finance receivables, ending balance:
Individually evaluated for impairment	$	—	$	—	$	—
Collectively evaluated for impairment	5,607,924		952,321		6,560,245
Total finance receivables	$	5,607,924	$	952,321	$	6,560,245
	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

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

	Three months ended March 29, 2015
	Retail			Wholesale		Total
Balance, beginning of period	$	122,025		$	5,339	$	127,364
Provision for credit losses	22,543			3,704		26,247
Charge-offs	(32,733		)	—		(32,733		)
Recoveries	11,942			—		11,942
Balance, end of period	$	123,777		$	9,043	$	132,820
	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

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 29, 2015
	Current		31-60 Days Past Due		61-90 Days Past Due		Greater than 90 Days Past Due		Total Past Due		Total Finance Receivables
Retail	$	5,451,248	$	82,302	$	24,013	$	18,995	$	125,310	$	5,576,558
Wholesale	1,404,160		443		107		144		694		1,404,854
Total	$	6,855,408	$	82,745	$	24,120	$	19,139	$	126,004	$	6,981,412
	December 31, 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	$	5,427,719	$	113,007	$	38,486	$	28,712	$	180,205	$	5,607,924
Wholesale	951,660		383		72		206		661		952,321
Total	$	6,379,379	$	113,390	$	38,558	$	28,918	$	180,866	$	6,560,245
	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

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 29, 2015		December 31, 2014		March 30, 2014
Prime	$	4,400,440	$	4,435,352	$	4,128,996
Sub-prime	1,176,118		1,172,572		1,125,137
Total	$	5,576,558	$	5,607,924	$	5,254,133

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

	March 29, 2015		December 31, 2014		March 30, 2014
Doubtful	$	1,523	$	954	$	5,508
Substandard	21,854		7,025		3,888
Special Mention	—		—		10,950
Medium Risk	19,634		11,557		11,103
Low Risk	1,361,843		932,785		1,266,642
Total	$	1,404,854	$	952,321	$	1,298,091