Finance Receivables (Tables)

6 Months Ended

Jun. 28, 2015

Receivables [Abstract]

Finance Receivables

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

	June 28, 2015			December 31, 2014			June 29, 2014
Retail	$	5,962,685		$	5,607,924		$	5,603,187
Wholesale	1,325,041			952,321			1,338,085
	7,287,726			6,560,245			6,941,272
Allowance for credit losses	(139,231		)	(127,364		)	(122,355		)
	$	7,148,495		$	6,432,881		$	6,818,917

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 28, 2015
	Retail		Wholesale		Total
Allowance for credit losses, ending balance:
Individually evaluated for impairment	$	—	$	—	$	—
Collectively evaluated for impairment	131,903		7,328		139,231
Total allowance for credit losses	$	131,903	$	7,328	$	139,231
Finance receivables, ending balance:
Individually evaluated for impairment	$	—	$	—	$	—
Collectively evaluated for impairment	5,962,685		1,325,041		7,287,726
Total finance receivables	$	5,962,685	$	1,325,041	$	7,287,726
	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
	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

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

	Three months ended June 28, 2015
	Retail			Wholesale			Total
Balance, beginning of period	$	123,777		$	9,043		$	132,820
Provision for credit losses	16,890			(1,715		)	15,175
Charge-offs	(21,003		)	—			(21,003		)
Recoveries	12,239			—			12,239
Balance, end of period	$	131,903		$	7,328		$	139,231
	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
	Six months ended June 28, 2015
	Retail			Wholesale			Total
Balance, beginning of period	$	122,025		$	5,339		$	127,364
Provision for credit losses	39,433			1,989			41,422
Charge-offs	(53,736		)	—			(53,736		)
Recoveries	24,181			—			24,181
Balance, end of period	$	131,903		$	7,328		$	139,231
	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

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 28, 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	$	5,819,279	$	96,982	$	28,150	$	18,274	$	143,406	$	5,962,685
Wholesale	1,324,174		513		181		173		867		1,325,041
Total	$	7,143,453	$	97,495	$	28,331	$	18,447	$	144,273	$	7,287,726
	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
	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

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):

	June 28, 2015		December 31, 2014		June 29, 2014
Prime	$	4,718,363	$	4,435,352	$	4,407,364
Sub-prime	1,244,322		1,172,572		1,195,823
Total	$	5,962,685	$	5,607,924	$	5,603,187

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

	June 28, 2015		December 31, 2014		June 29, 2014
Doubtful	$	—	$	954	$	4,916
Substandard	7,739		7,025		4,192
Special Mention	15,343		—		—
Medium Risk	3,245		11,557		16,202
Low Risk	1,298,714		932,785		1,312,775
Total	$	1,325,041	$	952,321	$	1,338,085