Securitizations (Tables)

6 Months Ended

Jun. 30, 2012

A summary of our securitization activity and cash flows from special purpose entities used for securitizations is as follows (in thousands):



	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2012		2011		2012		2011
Receivables securitized	$	2,433,616	$	2,068,978	$	4,349,335	$	2,917,788
Net proceeds from securitization	2,300,000		1,950,000		4,100,000		2,750,000
Servicing fees^(a)	59,237		48,985		117,800		97,909
Net distributions from Trusts	465,110		291,088		915,655		434,256

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(a)	Cash flows received for the servicing of securitizations consolidated as VIE’s are a component of finance charge income on the consolidated statements of income and comprehensive income.