XML 42 R33.htm IDEA: XBRL DOCUMENT v3.22.2
Finance Receivables (Tables)
 6 Months Ended
Jun. 26, 2022
Receivables [Abstract]  
Schedule of Finance Receivables Finance receivables, net were as follows (in thousands):
June 26,
2022		December 31,
2021		June 27,
2021
Retail finance receivables$6,847,651 $6,493,519 $6,663,518 
Wholesale finance receivables608,170 417,781 584,247 
7,455,821 6,911,300 7,247,765 
Allowance for credit losses(352,137)(339,379)(358,811)
$7,103,684 $6,571,921 $6,888,954 
Schedule of Changes In The Allowance For Finance Credit Losses On Finance Receivables Changes in the Company's allowance for credit losses on its finance receivables by portfolio were as follows (in thousands):
 Three months ended June 26, 2022Six months ended June 26, 2022
 RetailWholesaleTotalRetailWholesaleTotal
Balance, beginning of period$327,206 $13,267 $340,473 $326,320 $13,059 $339,379 
Provision for credit losses32,954 (3,821)29,133 61,568 (3,613)57,955 
Charge-offs(32,058)— (32,058)(73,862)— (73,862)
Recoveries14,589 — 14,589 28,665 — 28,665 
Balance, end of period$342,691 $9,446 $352,137 $342,691 $9,446 $352,137 
 Three months ended June 27, 2021Six months ended June 27, 2021
 RetailWholesaleTotalRetailWholesaleTotal
Balance, beginning of period$327,060 $19,173 $346,233 $371,738 $19,198 $390,936 
Provision for credit losses19,053 (2,852)16,201 (3,396)(2,877)(6,273)
Charge-offs(17,107)— (17,107)(51,696)— (51,696)
Recoveries13,484 — 13,484 25,844 — 25,844 
Balance, end of period$342,490 $16,321 $358,811 $342,490 $16,321 $358,811 
Schedule of Financing Receivable Credit Quality Indicators The amortized cost of the Company's U.S. and Canadian retail finance receivables by vintage and credit quality indicator was as follows (in thousands):
June 26, 2022
202220212020201920182017 & PriorTotal
U.S. Retail:
Super prime$703,972 $780,335 $364,514 $225,193 $111,097 $50,527 $2,235,638 
Prime923,272 1,107,587 546,653 348,801 194,109 134,420 3,254,842 
Sub-prime287,448 379,189 211,288 139,507 78,111 73,359 1,168,902 
1,914,692 2,267,111 1,122,455 713,501 383,317 258,306 6,659,382 
Canadian Retail:
Super prime35,811 40,084 24,426 18,702 8,819 3,085 130,927 
Prime11,623 13,831 9,767 7,022 4,458 3,267 49,968 
Sub-prime1,415 1,844 1,628 1,186 743 558 7,374 
48,849 55,759 35,821 26,910 14,020 6,910 188,269 
$1,963,541 $2,322,870 $1,158,276 $740,411 $397,337 $265,216 $6,847,651 
December 31, 2021
202120202019201820172016 & PriorTotal
U.S. Retail:
Super prime$1,010,636 $484,479 $316,390 $171,763 $65,753 $27,424 $2,076,445 
Prime1,391,385 712,858 470,177 277,206 142,288 82,169 3,076,083 
Sub-prime476,688 273,787 182,002 105,330 61,923 51,035 1,150,765 
2,878,709 1,471,124 968,569 554,299 269,964 160,628 6,303,293 
Canadian Retail:
Super prime51,779 32,724 27,073 13,984 4,619 1,614 131,793 
Prime16,882 12,675 9,244 6,230 3,628 1,779 50,438 
Sub-prime2,356 2,134 1,571 947 606 381 7,995 
71,017 47,533 37,888 21,161 8,853 3,774 190,226 
$2,949,726 $1,518,657 $1,006,457 $575,460 $278,817 $164,402 $6,493,519 
June 27, 2021
202120202019201820172016 & PriorTotal
U.S. Retail:
Super prime$632,627 $634,661 $429,884 $250,679 $106,124 $53,347 $2,107,322 
Prime876,007 911,265 619,597 380,662 208,176 140,807 3,136,514 
Sub-prime313,302 352,221 233,934 137,060 83,886 81,538 1,201,941 
1,821,936 1,898,147 1,283,415 768,401 398,186 275,692 6,445,777 
Canadian Retail:
Super prime38,562 42,967 37,461 20,709 8,625 3,374 151,698 
Prime12,468 15,872 11,990 8,254 5,007 3,182 56,773 
Sub-prime1,856 2,727 1,998 1,263 819 607 9,270 
52,886 61,566 51,449 30,226 14,451 7,163 217,741 
$1,874,822 $1,959,713 $1,334,864 $798,627 $412,637 $282,855 $6,663,518 
The amortized cost of the Company's wholesale financial receivables, by vintage and credit quality indicator, was as follows (in thousands):
June 26, 2022
202220212020201920182017 & PriorTotal
Non-Performing$— $— $— $— $— $— $— 
Doubtful— — — — — — — 
Substandard— — — — — — — 
Special Mention— — — — — — — 
Medium Risk— — — — — — — 
Low Risk540,284 45,976 7,871 4,153 9,247 639 608,170 
$540,284 $45,976 $7,871 $4,153 $9,247 $639 $608,170 
December 31, 2021
202120202019201820172016 & PriorTotal
Non-Performing$— $— $— $— $— $— $— 
Doubtful— — — — — — — 
Substandard— — — — — — — 
Special Mention— — — — — — — 
Medium Risk— — — — — — — 
Low Risk380,211 11,379 11,047 10,565 3,662 917 417,781 
$380,211 $11,379 $11,047 $10,565 $3,662 $917 $417,781 
June 27, 2021
202120202019201820172016 & PriorTotal
Non-Performing$— $— $— $— $— $— $— 
Doubtful— — — — — — — 
Substandard— — — — — — — 
Special Mention— — — — — — — 
Medium Risk— — — — — — — 
Low Risk500,490 38,408 26,449 11,888 4,581 2,431 584,247 
$500,490 $38,408 $26,449 $11,888 $4,581 $2,431 $584,247 
Schedule of Past Due Financing Receivables The aging analysis of the Company's finance receivables was as follows (in thousands):
 June 26, 2022
Current31-60 Days
Past Due		61-90 Days
Past Due		Greater than
90 Days
Past Due		Total
Past Due		Total
Retail finance receivables$6,660,108 $117,436 $38,855 $31,252 $187,543 $6,847,651 
Wholesale finance receivables608,169 — 1 — 1 608,170 
$7,268,277 $117,436 $38,856 $31,252 $187,544 $7,455,821 
 December 31, 2021
Current31-60 Days
Past Due		61-90 Days
Past Due		Greater than
90 Days
Past Due		Total
Past Due		Total
Retail finance receivables$6,298,485 $115,942 $44,326 $34,766 $195,034 $6,493,519 
Wholesale finance receivables417,720 9 1 51 61 417,781 
$6,716,205 $115,951 $44,327 $34,817 $195,095 $6,911,300 
 June 27, 2021
Current31-60 Days
Past Due		61-90 Days
Past Due		Greater than
90 Days
Past Due		Total
Past Due		Total
Retail finance receivables$6,531,560 $87,853 $27,300 $16,805 $131,958 $6,663,518 
Wholesale finance receivables584,154 39 — 54 93 584,247 
$7,115,714 $87,892 $27,300 $16,859 $132,051 $7,247,765