Finance Receivables (Tables)

3 Months Ended

Mar. 26, 2017

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



	March 26, 2017			December 31, 2016			March 27, 2016
Retail	$	6,002,550		$	5,982,211		$	6,012,804
Wholesale	1,327,602			1,026,590			1,519,946
Total finance receivables	7,330,152			7,008,801			7,532,750
Allowance for credit losses	(184,030		)	(173,343		)	(156,184		)
Finance receivables, net	$	7,146,122		$	6,835,458		$	7,376,566

Changes in the Allowance for Credit Losses on Finance Receivables

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



	Three months ended March 26, 2017
	Retail			Wholesale		Total
Balance, beginning of period	$	166,810		$	6,533	$	173,343
Provision for credit losses	42,160			1,429		43,589
Charge-offs	(45,924		)	—		(45,924		)
Recoveries	13,022			—		13,022
Balance, end of period	$	176,068		$	7,962	$	184,030

	Three months ended March 27, 2016
	Retail			Wholesale		Total
Balance, beginning of period	$	139,320		$	7,858	$	147,178
Provision for credit losses	35,524			1,599		37,123
Charge-offs	(39,644		)	—		(39,644		)
Recoveries	11,527			—		11,527
Balance, end of period	$	146,727		$	9,457	$	156,184

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 26, 2017
	Retail		Wholesale		Total
Allowance for credit losses, ending balance:
Individually evaluated for impairment	$	—	$	—	$	—
Collectively evaluated for impairment	176,068		7,962		184,030
Total allowance for credit losses	$	176,068	$	7,962	$	184,030
Finance receivables, ending balance:
Individually evaluated for impairment	$	—	$	—	$	—
Collectively evaluated for impairment	6,002,550		1,327,602		7,330,152
Total finance receivables	$	6,002,550	$	1,327,602	$	7,330,152

	December 31, 2016
	Retail		Wholesale		Total
Allowance for credit losses, ending balance:
Individually evaluated for impairment	$	—	$	—	$	—
Collectively evaluated for impairment	166,810		6,533		173,343
Total allowance for credit losses	$	166,810	$	6,533	$	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

	March 27, 2016
	Retail		Wholesale		Total
Allowance for credit losses, ending balance:
Individually evaluated for impairment	$	—	$	—	$	—
Collectively evaluated for impairment	146,727		9,457		156,184
Total allowance for credit losses	$	146,727	$	9,457	$	156,184
Finance receivables, ending balance:
Individually evaluated for impairment	$	—	$	—	$	—
Collectively evaluated for impairment	6,012,804		1,519,946		7,532,750
Total finance receivables	$	6,012,804	$	1,519,946	$	7,532,750

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 26, 2017
	Current		31-60 Days Past Due		61-90 Days Past Due		Greater than 90 Days Past Due		Total Past Due		Total Finance Receivables
Retail	$	5,840,164	$	100,471	$	33,403	$	28,512	$	162,386	$	6,002,550
Wholesale	1,325,575		1,129		273		625		2,027		1,327,602
Total	$	7,165,739	$	101,600	$	33,676	$	29,137	$	164,413	$	7,330,152

	December 31, 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

	March 27, 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	$	5,864,850	$	94,984	$	30,094	$	22,876	$	147,954	$	6,012,804
Wholesale	1,517,926		1,407		135		478		2,020		1,519,946
Total	$	7,382,776	$	96,391	$	30,229	$	23,354	$	149,974	$	7,532,750

Recorded Investment of Retail Finance Receivables by Credit Quality Indicator

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



	March 26, 2017		December 31, 2016		March 27, 2016
Doubtful	$	1,133	$	1,333	$	—
Substandard	9,213		1,773		24,391
Special Mention	19,898		30,152		7,220
Medium Risk	14,648		14,620		11,610
Low Risk	1,282,710		978,712		1,476,725
Total	$	1,327,602	$	1,026,590	$	1,519,946

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



	March 26, 2017		December 31, 2016		March 27, 2016
Prime	$	4,806,730	$	4,768,420	$	4,798,394
Sub-prime	1,195,820		1,213,791		1,214,410
Total	$	6,002,550	$	5,982,211	$	6,012,804