Securitizations

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



	Successor						Predecessor
	For the Year Ended December 31, 2012		For the Year Ended December 31, 2011		Period From October 1, 2010 Through December 31, 2010		Period From July 1, 2010 Through September 30, 2010		For the Year Ended June 30, 2010
	For the Year Ended December 31, 2012		For the Year Ended December 31, 2011		Period From October 1, 2010 Through December 31, 2010		Period From July 1, 2010 Through September 30, 2010		For the Year Ended June 30, 2010
Receivables securitized	$	6,776,799	$	4,827,620	$	742,708	$	1,164,267	$	2,843,308
Net proceeds from securitization	6,400,000		4,550,000		700,000		1,050,000		2,352,493
Servicing fees^(a)	242,145		200,889		46,229		43,663		196,304
Net distributions from Trusts	1,486,820		852,359		216,004		110,930		424,161

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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.

We retain servicing responsibilities for receivables transferred to the Trusts. We receive a monthly base servicing fee on the outstanding principal balance of our securitized receivables and supplemental fees (such as late charges) for servicing the receivables.

As of December 31, 2012 and 2011, we were servicing $9.9 billion and $7.9 billion, respectively, of finance receivables that have been transferred to the Trusts.