Finance Receivables (Tables)

12 Months Ended

Dec. 31, 2017

Receivables [Abstract]

Finance Receivables

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

	2017			2016			2015			2014			2013
Wholesale
United States	$	939,621		$	961,150		$	965,379		$	903,380		$	800,491
Canada	77,336			65,440			58,481			48,941			44,721
Total wholesale	1,016,957			1,026,590			1,023,860			952,321			845,212
Retail
United States	5,901,002			5,769,410			5,803,071			5,398,006			5,051,245
Canada	239,598			212,801			188,400			209,918			213,799
Total retail	6,140,600			5,982,211			5,991,471			5,607,924			5,265,044
	7,157,557			7,008,801			7,015,331			6,560,245			6,110,256
Allowance for credit losses	(192,471		)	(173,343		)	(147,178		)	(127,364		)	(110,693		)
Total finance receivables, net	$	6,965,086		$	6,835,458		$	6,868,153		$	6,432,881		$	5,999,563

Contractual Maturities Of Finance Receivables

On December 31, 2017, contractual maturities of finance receivables were as follows (in thousands):

	United States		Canada		Total
2018	$	2,018,646	$	126,345	$	2,144,991
2019	1,160,372		51,764		1,212,136
2020	1,251,444		56,173		1,307,617
2021	1,250,821		60,957		1,311,778
2022	1,144,281		21,695		1,165,976
Thereafter	15,059		—		15,059
Total	$	6,840,623	$	316,934	$	7,157,557

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):

	2017
	Retail			Wholesale			Total
Balance, beginning of period	$	166,810		$	6,533		$	173,343
Provision for credit losses	132,760			(316		)	132,444
Charge-offs	(160,972		)	—			(160,972		)
Recoveries	47,656			—			47,656
Balance, end of period	$	186,254		$	6,217		$	192,471

	2016
	Retail			Wholesale			Total
Balance, beginning of period	$	139,320		$	7,858		$	147,178
Provision for credit losses	137,942			(1,325		)	136,617
Charge-offs	(148,566		)	—			(148,566		)
Recoveries	41,405			—			41,405
Other (a)	(3,291		)	—			(3,291		)
Balance, end of period	$	166,810		$	6,533		$	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

(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 10 for additional information).

There were no finance receivables individually evaluated for impairment on December 31, 2017 or 2016. The allowance for credit losses and finance receivables by portfolio, collectively evaluated for impairment, at December 31 was as follows (in thousands):

	2017
	Retail		Wholesale		Total
Allowance for credit losses, ending balance:
Individually evaluated for impairment	$	—	$	—	$	—
Collectively evaluated for impairment	186,254		6,217		192,471
Total allowance for credit losses	$	186,254	$	6,217	$	192,471
Finance receivables, ending balance:
Individually evaluated for impairment	$	—	$	—	$	—
Collectively evaluated for impairment	6,140,600		1,016,957		7,157,557
Total finance receivables	$	6,140,600	$	1,016,957	$	7,157,557
	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

Past Due Financing Receivables

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

	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	$	5,913,473	$	139,629	$	47,539	$	39,959	$	227,127	$	6,140,600
Wholesale	1,016,000		595		245		117		957		1,016,957
Total	$	6,929,473	$	140,224	$	47,784	$	40,076	$	228,084	$	7,157,557

	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

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):

	2017		2016		2015		2014		2013
United States	$	39,051	$	39,399	$	31,677	$	27,800	$	23,770
Canada	1,025		1,326		1,192		1,118		1,031
Total	$	40,076	$	40,725	$	32,869	$	28,918	$	24,801

Financing Receivable Credit Quality Indicators

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

	2017		2016
Prime	$	4,966,193	$	4,768,420
Sub-prime	1,174,407		1,213,791
Total	$	6,140,600	$	5,982,211

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

	2017		2016
Doubtful	$	688	$	1,333
Substandard	3,837		1,773
Special Mention	26,866		30,152
Medium Risk	9,917		14,620
Low Risk	975,649		978,712
Total	$	1,016,957	$	1,026,590