XML 41 R32.htm IDEA: XBRL DOCUMENT v3.23.2
Finance Receivables (Tables)
 6 Months Ended
Jun. 30, 2023
Receivables [Abstract]  
Schedule of Finance Receivables Finance receivables, net were as follows (in thousands):
June 30,
2023		December 31,
2022		June 26,
2022
Retail finance receivables$6,955,514 $6,748,201 $6,847,651 
Wholesale finance receivables936,132 748,948 608,170 
7,891,646 7,497,149 7,455,821 
Allowance for credit losses(381,780)(358,711)(352,137)
$7,509,866 $7,138,438 $7,103,684 
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 30, 2023Six months ended June 30, 2023
 RetailWholesaleTotalRetailWholesaleTotal
Balance, beginning of period$343,600 $14,831 $358,431 $345,275 $13,436 $358,711 
Provision for credit losses57,248 30 57,278 108,217 1,425 109,642 
Charge-offs(50,437)— (50,437)(118,445)— (118,445)
Recoveries16,508 — 16,508 31,872 — 31,872 
Balance, end of period$366,919 $14,861 $381,780 $366,919 $14,861 $381,780 
 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 
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 30, 2023
202320222021202020192018 & PriorTotal
U.S. Retail:
Super prime$653,241 $900,693 $483,064 $204,865 $108,690 $52,889 $2,403,442 
Prime744,143 1,197,541 719,455 334,005 192,671 132,899 3,320,714 
Sub-prime203,996 341,127 236,686 128,806 83,042 69,723 1,063,380 
1,601,380 2,439,361 1,439,205 667,676 384,403 255,511 6,787,536 
Canadian Retail:
Super prime29,516 39,496 23,265 13,012 7,952 3,296 116,537 
Prime9,836 13,856 8,895 5,755 3,733 3,063 45,138 
Sub-prime1,287 1,868 1,021 994 666 467 6,303 
40,639 55,220 33,181 19,761 12,351 6,826 167,978 
$1,642,019 $2,494,581 $1,472,386 $687,437 $396,754 $262,337 $6,955,514 
Current YTD period gross charge-offs:
US Retail$738 $44,340 $37,534 $16,365 $9,518 $8,354 $116,849 
Canadian Retail— 492 421 205 128 350 1,596 
$738 $44,832 $37,955 $16,570 $9,646 $8,704 $118,445 
December 31, 2022
202220212020201920182017 & PriorTotal
U.S. Retail:
Super prime$1,118,198 $612,890 $276,492 $159,550 $69,652 $26,701 $2,263,483 
Prime1,433,141 887,817 425,401 260,458 135,454 79,611 3,221,882 
Sub-prime420,660 298,153 164,946 108,372 57,993 46,827 1,096,951 
2,971,999 1,798,860 866,839 528,380 263,099 153,139 6,582,316 
Canadian Retail:
Super prime49,033 30,090 17,553 12,215 4,975 1,527 115,393 
Prime16,094 10,705 7,283 5,098 3,068 1,787 44,035 
Sub-prime2,223 1,402 1,173 869 475 315 6,457 
67,350 42,197 26,009 18,182 8,518 3,629 165,885 
$3,039,349 $1,841,057 $892,848 $546,562 $271,617 $156,768 $6,748,201 
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 $6,847,651 
The amortized cost of the Company's wholesale financial receivables, by vintage and credit quality indicator, was as follows (in thousands):
June 30, 2023
202320222021202020192018 & PriorTotal
Non-Performing$— $— $— $— $— $— $— 
Doubtful— — — — — — — 
Substandard— — — — — — — 
Special Mention— — — — — — — 
Medium Risk— — — — — — — 
Low Risk746,491 165,620 7,060 5,779 8,665 2,517 936,132 
$746,491 $165,620 $7,060 $5,779 $8,665 $2,517 $936,132 
December 31, 2022
202220212020201920182017 & PriorTotal
Non-Performing$— $— $— $— $— $— $— 
Doubtful— — — — — — — 
Substandard— — — — — — — 
Special Mention— — — — — — — 
Medium Risk— — — — — — — 
Low Risk714,238 11,478 6,646 8,457 7,938 191 748,948 
$714,238 $11,478 $6,646 $8,457 $7,938 $191 $748,948 
June 26, 2022
202220212020201920182017 & PriorTotal
Non-Performing$— $— $— $— $— $— $— 
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 
Schedule of Past Due Financing Receivables The aging analysis of the Company's finance receivables was as follows (in thousands):
 June 30, 2023
Current31-60 Days
Past Due		61-90 Days
Past Due		Greater than
90 Days
Past Due		Total
Past Due		Total
Retail finance receivables$6,730,985 $134,418 $47,207 $42,904 $224,529 $6,955,514 
Wholesale finance receivables934,562 1,543 26 1 1,570 936,132 
$7,665,547 $135,961 $47,233 $42,905 $226,099 $7,891,646 
 December 31, 2022
Current31-60 Days
Past Due		61-90 Days
Past Due		Greater than
90 Days
Past Due		Total
Past Due		Total
Retail finance receivables$6,473,462 $152,343 $60,446 $61,950 $274,739 $6,748,201 
Wholesale finance receivables748,682 222 44 — 266 748,948 
$7,222,144 $152,565 $60,490 $61,950 $275,005 $7,497,149 
 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