Finance Receivables (Tables)

12 Months Ended

Dec. 31, 2016

Receivables [Abstract]

Finance Receivables

Finance receivables, net at December 31 for the past five years were as follows (in thousands):

	2016			2015			2014			2013			2012
Wholesale
United States	$	961,150		$	965,379		$	903,380		$	800,491		$	776,633
Canada	65,440			58,481			48,941			44,721			39,771
Total wholesale	1,026,590			1,023,860			952,321			845,212			816,404
Retail
United States	5,769,410			5,803,071			5,398,006			5,051,245			4,850,450
Canada	212,801			188,400			209,918			213,799			222,665
Total retail	5,982,211			5,991,471			5,607,924			5,265,044			5,073,115
	7,008,801			7,015,331			6,560,245			6,110,256			5,889,519
Allowance for credit losses	(173,343		)	(147,178		)	(127,364		)	(110,693		)	(107,667		)
Total finance receivables, net	$	6,835,458		$	6,868,153		$	6,432,881		$	5,999,563		$	5,781,852

Contractual Maturities Of Finance Receivables

On December 31, 2016, contractual maturities of finance receivables were as follows (in thousands):

	United States		Canada		Total
2017	$	2,004,454	$	107,658	$	2,112,112
2018	1,123,428		44,731		1,168,159
2019	1,256,972		48,806		1,305,778
2020	1,217,711		53,254		1,270,965
2021	1,106,241		23,792		1,130,033
Thereafter	21,754		—		21,754
Total	$	6,730,560	$	278,241	$	7,008,801

Changes In The Allowance For Finance Credit Losses On Finance Receivables

Changes in the allowance for credit losses on finance receivables by portfolio for the year ended December 31 were as follows (in thousands):

	2016
	Retail			Wholesale			Total
Balance, beginning of period	$	139,320		$	7,858		$	147,178
Provision for credit losses	137,893			(1,276		)	136,617
Charge-offs	(148,566		)	—			(148,566		)
Recoveries	41,405			—			41,405
Other (a)	(3,291		)	—			(3,291		)
Balance, end of period	$	166,761		$	6,582		$	173,343

	2015
	Retail			Wholesale		Total
Balance, beginning of period	$	122,025		$	5,339	$	127,364
Provision for credit losses	98,826			2,519		101,345
Charge-offs	(123,911		)	—		(123,911		)
Recoveries	42,380			—		42,380
Balance, end of period	$	139,320		$	7,858	$	147,178

	2014
	Retail			Wholesale		Total
Balance, beginning of period	$	106,063		$	4,630	$	110,693
Provision for credit losses	80,237			709		80,946
Charge-offs	(102,831		)	—		(102,831		)
Recoveries	38,556			—		38,556
Balance, end of period	$	122,025		$	5,339	$	127,364

(a) Related to the sale of finance receivables during the second quarter of 2016 with a principal balance of $301.8 million

through an off-balance sheet asset-backed securitization transaction (see Note 11 for additional information).

There were no finance receivables individually evaluated for impairment on December 31, 2016 or 2015. The allowance for credit losses and finance receivables by portfolio, collectively evaluated for impairment, at December 31 was as follows (in thousands):

	2016
	Retail		Wholesale		Total
Allowance for credit losses, ending balance:
Individually evaluated for impairment	$	—	$	—	$	—
Collectively evaluated for impairment	166,761		6,582		173,343
Total allowance for credit losses	$	166,761	$	6,582	$	173,343
Finance receivables, ending balance:
Individually evaluated for impairment	$	—	$	—	$	—
Collectively evaluated for impairment	5,982,211		1,026,590		7,008,801
Total finance receivables	$	5,982,211	$	1,026,590	$	7,008,801
	2015
	Retail		Wholesale		Total
Allowance for credit losses, ending balance:
Individually evaluated for impairment	$	—	$	—	$	—
Collectively evaluated for impairment	139,320		7,858		147,178
Total allowance for credit losses	$	139,320	$	7,858	$	147,178
Finance receivables, ending balance:
Individually evaluated for impairment	$	—	$	—	$	—
Collectively evaluated for impairment	5,991,471		1,023,860		7,015,331
Total finance receivables	$	5,991,471	$	1,023,860	$	7,015,331

Past Due Financing Receivables

An analysis of the aging of past due finance receivables at December 31 was as follows (in thousands):

	2016
	Current		31-60 Days Past Due		61-90 Days Past Due		Greater than 90 Days Past Due		Total Past Due		Total Finance Receivables
Retail	$	5,760,818	$	131,302	$	49,642	$	40,449	$	221,393	$	5,982,211
Wholesale	1,024,995		1,000		319		276		1,595		1,026,590
Total	$	6,785,813	$	132,302	$	49,961	$	40,725	$	222,988	$	7,008,801

	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	$	5,796,003	$	118,996	$	43,680	$	32,792	$	195,468	$	5,991,471
Wholesale	1,022,365		888		530		77		1,495		1,023,860
Total	$	6,818,368	$	119,884	$	44,210	$	32,869	$	196,963	$	7,015,331

The recorded investment of retail and wholesale finance receivables, excluding non-accrual status finance receivables, that were contractually past due 90 days or more at December 31 for the past five years was as follows (in thousands):

	2016		2015		2014		2013		2012
United States	$	39,399	$	31,677	$	27,800	$	23,770	$	26,500
Canada	1,326		1,192		1,118		1,031		1,533
Total	$	40,725	$	32,869	$	28,918	$	24,801	$	28,033

Financing Receivable Credit Quality Indicators

The recorded investment of retail finance receivables, by credit quality indicator, at December 31 was as follows (in thousands):

	2016		2015
Prime	$	4,768,420	$	4,777,448
Sub-prime	1,213,791		1,214,023
Total	$	5,982,211	$	5,991,471

The recorded investment of wholesale finance receivables, by internal credit quality indicator, at December 31 was as follows (in thousands):

	2016		2015
Doubtful	$	1,333	$	5,169
Substandard	1,773		21,774
Special Mention	30,152		6,271
Medium Risk	14,620		11,494
Low Risk	978,712		979,152
Total	$	1,026,590	$	1,023,860